Consumer products and retail quarterly update - Q1 2019

Consumer Products and Retail Quarterly update

Q1 2019

Deloitte Corporate Finance LLC | investmentbanking.

Quarterly update | Q1 2019 | Consumer Products and Retail

Consumer Products and Retail trends

In-store revolution1

Experts predict there will be fewer, better stores in the future and with a smaller portfolio of stores, companies are expected to invest more to ensure that the remaining locations meet the needs of their consumers. During the period of disruption, retailers have continued to innovate, using the opportunity to redefine the role of brick & mortar stores and how they interact with e-commerce platforms. While e-commerce made up only 20 percent of all retail sales in 2018, this number is expected to increase, making the relationship between ecommerce and brick & mortar even more important.

Diet-based products2

From paleo to keto, as well as a number of other popular diets being tried by many Americans, many food and beverage companies are exploring ways to create or acquire new product lines that fill the needs of dieting Americans. Food and beverage companies with products that fit specific dining patterns, such as the growing meal replacement drink category, can often charge a higher price for these products.

Premiumization

The premiumization of certain food and beverage categories demonstrates an opportunity for disruptors to enter formerly static categories to shake up the industry with premium offerings. After remaining stagnant for years, new players have recently brought growth to both the ice cream and jerky markets through the addition of artisanal and gourmet products. Often featuring new flavors that drive an increased price tag, these new market entrants are causing many longstanding companies to take action through new products or M&A.

Dry drinks3

As Americans aged 18 to 34 are becoming more interested in spiritfree cocktails than any other demographic group, many of the bars that serve these consumers are preparing recipes and ingredients to reflect these new preferences. Many bars have begun to carry an increased number of lower-alcohol spirits, such as prosecco, to include in mixed drinks and many have also started to include mocktails, or drinks not including any alcohol, on their menus in order to appeal to this demographic.

In the news

February 28,20194 ? In February, Borgman Capital LLC (Borgman Capital), acquired Gilman, Wisconsin-based Gilman Cheese Corporation (Gilman Cheese), a premium natural and processed cheese manufacturer. Gilman produces more than 1.6 million pounds of processed cheese per month spread across 450 different products. Borgman Capital acquired Gilman Cheese from Tom and Char Hand, who have operated the business since purchasing it in 2000. The acquisition marks Borgman Capital's first in the food space, following a number of industrial manufacturer acquisitions.

February 26,20195 ? In February, Campbell Soup Company (Campbell's) (NYSE:CPB) agreed to terms to sell Ferndale, Michigan-based Garden Fresh Gourmet to Quebec-based Fontaine Sant?, an affiliate of Houston, Texas-based Fountain of Health USA, for an undisclosed amount. Campbell's has outlined a plan to divest its Campbell Fresh and Campbell International businesses, a move expected to narrow its focus, reduce debt, and strengthen its balance sheet. The transaction will strengthen Fontaine Sant?'s portfolio, adding a leading salsa brand to its robust portfolio of natural dips and spreads.

In this update

? Consumer trends ? Economic outlook ? Industry analysis ? Select M&A transactions ? Appendix

This update will focus on news and trends in the following areas:

? Food & Beverages ? Products & Durables ? Restaurant & Food

Services ? Specialty Retail

Who we are

Deloitte Corporate Finance LLC is a leading global middle market M&A advisor. The firm's professionals have extensive knowledge of and transaction experience in the Consumer Products and Retail space.

Contacts

Lorin DeMordaunt Managing Director ldemordaunt@ +1 (704) 333-0591

Matt Preece Managing Director mpreece@ +1 (704) 731-7186

Garett Poston Managing Director gposton@ +1 (213) 593-4544

investmentbanking. | Page 2

$ in trillions

% unemployed

Consumer confidence

$20.0 $15.0 $10.0

$5.0 $0.0

Quarterly update | Q1 2019 | Consumer Products and Retail

MMaaccrrooeeccoonnoommiicc aanndd CCoonnssuummeerr PPrroodduuccttss aanndd RReettaaiill Ssector Oouuttllooookk

US gross domestic product1

5.0% 4.0% 3.0% 2.0% 1.0% 0.0%

YoY percent change

Interest rate

3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0%

US Treasury yield curve2 (nominal vs. real)

GDP ($ in trillions)

Real yield (%)

Nominal yield (%)

10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0%

US unemployment rate3

600 550 500 450 400 350 300 250 200

Initial jobless claims

Unemployment rate (%)

Jobless claims (thousands)

ISM Non-manufacturing

64.0 62.0 60.0 58.0 56.0 54.0 52.0 50.0 48.0

ISM non-manufacturing index and consumer confidence index4

145.0 135.0 125.0 115.0 105.0 95.0 85.0 75.0 65.0

ISM Non-manufacturing

Consumer confidence

$50.0 $48.0 $46.0 $44.0 $42.0 $40.0 $38.0 $36.0 $34.0 $32.0

US per capita disposable income5

$48.9 $43.8

$ in billions

$420.0 $410.0 $400.0 $390.0 $380.0 $370.0 $360.0 $350.0 $340.0 $330.0 $320.0

Monthly total US retail sales6

$ in thousands

investmentbanking. | Page 3

Quarterly update | Q1 2019 | Consumer Products and Retail

Consumer Products and Retail sector breakdown and trading statistics1

Sector

Number of companies

% of 52 Week high

Median revenue CAGR

(3 Yr)

Median LTM EBITDA ($M)

Median EBITDA margin

Median enterprise value ($M)

Last twelve months

EV/ Revenue

EV/ EBITDA

NTM

EV/ EBITDA

Beauty & cosmetics Food & beverage Home & garden Restaurant & food services Apparel & specialty retail

12

81.1 %

3.4 %

$844.4

10

97.4

0.2

2,720.0

10

82.9

4.0

686.9

18

83.9

6.0

381.0

10

81.4

6.1

467.4

14.9 % $9,960.4

20.0

35,330.5

15.2

8,710.1

11.8

4,072.9

14.3

6,431.4

1.7 x 2.8 2.0 1.5 1.5

11.5 x 15.9 13.5 12.4

9.6

12.5 x 15.1 13.6 11.6

8.9

Consumer products index

60

83.9 %

3.9 % $524.9

14.5 % $8,347.6

1.8 x

12.5 x

12.0 x

80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0%

0.0% (10.0%) (20.0%)

Public comparables three-year stock market performance2

S&P 500 index NASDAQ Composite index Consumer index*

43.27% 64.82%

24.71%

S&P 500 index

NASDAQ Composite index

Consumer index

*Consumer index companies listed on pages 6 and 7 in the appendix.

investmentbanking. | Page 4

Quarterly update | Q1 2019 | Consumer Products and Retail

Select recent Consumer Products and Retail M&A transactions1

Announce date

Target/acquiror

Mar-19

FLAWLESS and FINISHING TOUCH Brands of IdeaVillage Products Corp.

Church & Dwight Co., Inc.

Target business description

Enterprise value (EV)

FLAWLESS and FINISHING TOUCH Brands of IdeaVillage Products Corp. comprises electric hair removal products, including Finishing Touch Flawless for legs and brows, and Finishing Touch Lumina.

$900.0

Mar-19

GARANCIA SAS Unilever PLC

GARANCIA SAS manufactures skin care products.

N/A

EV/ EBITDA

16.4

N/A

Mar-19

Dean & DeLuca Caf? Japan Co., Ltd Welcome Co., Ltd.

Dean & DeLuca Caf? Japan Co., Ltd owns and operates caf?s.

19.7

N/A

Mar-19 Feb-19 Feb-19 Feb-19 Feb-19 Jan-19

Janie and Jack Retail Chain of Gymboree Group Inc. The Gap, Inc.

Janie and Jack Retail Chain of Gymboree Group Inc. comprises children apparel retail stores' operations.

35.0

Watson Foods Co., Inc. Glanbia Nutritionals, Inc.

CytoSport Business of Hormel Foods Corporation PepsiCo, Inc.

Cott Beverages LLC Refresco Group N.V.

Wholesale Business Assets of Advanced Sports Enterprisers, Inc. BikeCo, LLC

Watson Foods Co., Inc. produces and supplies human health and nutrition products and ingredient systems for food and supplement industries.

89.0

CytoSport Business of Hormel Foods Corporation comprises a sports-oriented nutritional products manufacturing business.

465.0

Cott Beverages LLC develops and manufactures soft drink concentrates for bottlers in the United States and internationally.

50.0

Wholesale Business Assets of Advanced Sports Enterprises, Inc. comprises a business division that engages in distribution of sports equipment.

23.0

The Fuller's Beer Company Ltd Asahi Europe Ltd

The Fuller's Beer Company Ltd produces beer.

329.4

N/A N/A N/A N/A N/A 23.6

Jan-19

Substantially all of the Assets of Sears Holdings Corporation ESL Investments, Inc.

Assets of Sears Holdings Corporation comprises specialty retail stores in the United States.

5,200.0

N/A

Annual Consumer Products and Retail M&A transaction volume2

3,500 3,000 2,500 2,000

1,983

2,479

2,772

3,041

2,874

3,213

3,199

2,603

2,369

2,212

1,500

1,000 500

536

623

0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Q1 2018 Q1 2019

Undisclosed $1,000M

Number of deals

investmentbanking. | Page 5

Quarterly update | Q1 2019 | Consumer Products and Retail

Appendix Consumer Products and Retail trading multiples1

Company (ticker)

($ in millions)

Beauty & cosmetics (12) Avon Products, Inc. (NYSE:AVP) Coty Inc. (NYSE:COTY) L'Occitane International S.A. (SEHK:973) L'Or?al S.A. (ENXTPA:OR) Nu Skin Enterprises, Inc. (NYSE:NUS) Oriflame Holding AG (OM:ORI) Revlon, Inc. (NYSE:REV) Sally Beauty Holdings, Inc. (NYSE:SBH) The Est?e Lauder Companies Inc. (NYSE:EL) The Procter & Gamble Company (NYSE:PG) Ulta Beauty, Inc. (NasdaqGS:ULTA) Unilever PLC (LSE:ULVR)

Median

Mean

Food & beverage (10) Conagra Brands, Inc. (NYSE:CAG) General Mills, Inc. (NYSE:GIS) Hormel Foods Corporation (NYSE:HRL) Mondelez International, Inc. (NasdaqGS:MDLZ) Nestl? S.A. (SWX:NESN) PepsiCo, Inc. (NasdaqGS:PEP) The Coca-Cola Company (NYSE:KO) The Hain Celestial Group, Inc. (NasdaqGS:HAIN) The J. M. Smucker Company (NYSE:SJM) TreeHouse Foods, Inc. (NYSE:THS)

Median

Mean

Home & garden (10) Central Garden & Pet Company (NasdaqGS:CENT) Helen of Troy Limited (NasdaqGS:HELE) iRobot Corporation (NasdaqGS:IRBT) Newell Brands Inc. (NasdaqGS:NWL) Snap-on Incorporated (NYSE:SNA) Stanley Black & Decker, Inc. (NYSE:SWK) The Clorox Company (NYSE:CLX) The Toro Company (NYSE:TTC) Tupperware Brands Corporation (NYSE:TUP) Whirlpool Corporation (NYSE:WHR)

Median

Mean

% of 52 Week high

LTM revenue

Historical

Revenue CAGR (3 Yr)

LTM EBITDA

NTM EBITDA

EBITDA margin

Enterprise value (EV)

Last twelve months

EV/ Revenue

EV/ EBITDA

NTM

EV/ EBITDA

83.6 % 62.2 78.6 99.1 56.9 43.3 70.7 77.3 98.8 99.9 96.9 96.9

81.1 %

80.4 %

75.5 % 99.3 89.0 99.5 98.3 99.2 91.9 68.3 96.9 97.8

97.4 %

91.6 %

57.6 % 81.4 96.4 54.2 82.3 92.2 92.7 99.9 56.4 83.5

82.9 %

79.7 %

$5,364.7 9,064.6 1,587.7

30,842.0 2,686.4 1,464.1 2,564.5 3,897.6

14,568.0 67,093.0

6,716.6 58,371.9

$8,891.4 16,593.7

9,574.8 25,711.0 93,245.7 64,983.0 32,250.0

2,397.3 7,717.2 5,632.0

$2,235.3 1,564.2 1,113.2 8,531.5 4,059.2

14,106.7 6,278.0 2,673.4 2,014.4

20,886.0

(3.2) % 28.5

3.3 3.5 7.3 1.8 10.2 (0.1) 9.4 0.7 19.6 (1.5)

$492.2 1,307.6

222.2 6,733.3

412.1 194.6

89.4 555.6 3,114.0 17,704.0 1,133.2 15,983.5

3.4 % $844.4

6.6 % $3,995.1

$347.0 1,381.8

256.1 7,475.9

430.4 198.6 261.0 567.6 3,241.4 17,719.6 1,286.9 12,854.4

9.2 % 14.4 14.0 21.8 15.3 13.3

3.5 14.3 21.4 26.4 16.9 27.4

14.9 %

16.5 %

(3.0) % (0.7)

1.5 (3.2)

1.0 1.2 (9.7) (3.8) 1.2 15.1

$1,815.1 3,624.8 1,336.3 4,400.0

18,664.4 13,035.0 10,687.0

179.5 1,649.5

494.1

0.2 % $2,720.0

(0.0) % $5,588.6

$2,099.2 3,569.1 1,437.1 5,145.5

20,356.3 13,143.8 11,443.2

197.2 1,675.5

554.0

2,834.1

5,962.1

20.4 % 21.8 14.0 17.1 20.0 20.1 33.1

7.5 21.4

8.8

20.0 %

18.4 %

9.5 % 3.9 20.9 12.7 4.0 8.0 3.2 3.6 (3.3) 0.4

4.0 %

6.3 %

$203.4 NA 231.6 138.1 936.0

1,039.6 2,188.2 1,291.0

437.9 355.8 1,885.0

245.2 174.4 1,016.1 1,071.7 2,358.4 1,362.2 530.8 370.8 2,000.5

$686.9

$870.6

9.1 % 14.8 12.4 11.0 25.6 15.5 20.6 16.4 17.7

9.0

15.2 %

15.2 %

$2,672.0 15,816.4

2,373.9 149,078.4

2,994.2 1,283.3 4,104.3 3,814.9 60,998.9 283,263.0 19,868.0 173,278.0

$9,960.4

$59,962.1

0.5 x 1.7 1.5 4.8 1.1 0.9 1.6 1.0 4.2 4.2 3.0 3.0

1.7 x

2.3 x

$25,301.4 45,359.6 22,155.2 90,842.8

314,678.4 198,033.4 233,101.3

2,987.4 19,381.0

6,043.5

$35,330.5

$95,788.4

2.8 x 2.7 2.3 3.5 3.4 3.0 7.2 1.2 2.5 1.1

2.8 x

3.0 x

$1,716.5 3,338.7 3,454.8

13,962.9 9,672.0

27,545.2 22,357.3

7,748.2 2,197.3 15,264.3

$8,710.1

$10,725.7

0.8 x 2.1 3.1 1.6 2.4 2.0 3.6 2.9 1.1 0.7

2.0 x

2.0 x

5.4 x 12.1 10.7 22.1

7.3 6.6 45.9 6.9 19.6 16.0 17.5 10.8

11.5 x

15.1 x

7.7 x 11.4

9.3 19.9

7.0 6.5 15.7 6.7 18.8 16.0 15.4 13.5

12.5 x

12.3 x

13.9 x 12.5 16.6 20.6 16.9 15.2 21.8 16.6 11.7 12.2

15.9 x

15.8 x

12.1 x 12.7 15.4 17.7 15.5 15.1 20.4 15.1 11.6 10.9

15.1 x

14.6 x

8.4 x 14.4 25.0 14.9

9.3 12.6 17.3 17.7

6.2 8.1

13.5 x

13.4 x

NA x 13.6 19.8 13.7

9.0 11.7 16.4 14.6

5.9 7.6

13.6 x

12.5 x

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Quarterly update | Q1 2019 | Consumer Products and Retail

Consumer Products and Retail trading multiples (cont.)1

Company (ticker)

% of 52 Week high

($ in millions)

Restaurant & food services (18)

Aramark (NYSE:ARMK) Bloomin' Brands, Inc. (NasdaqGS:BLMN) Brinker International, Inc. (NYSE:EAT) Chipotle Mexican Grill, Inc. (NYSE:CMG) Core-Mark Holding Company, Inc. (NasdaqGS:CORE) Cracker Barrel Old Country Store, Inc. (NasdaqGS:CBRL) Darden Restaurants, Inc. (NYSE:DRI) Dine Brands Global, Inc. (NYSE:DIN) Domino's Pizza, Inc. (NYSE:DPZ) Dunkin' Brands Group, Inc. (NasdaqGS:DNKN) Jack in the Box Inc. (NasdaqGS:JACK) Recipe Unlimited Corporation (TSX:RECP) SpartanNash Company (NasdaqGS:SPTN) Sysco Corporation (NYSE:SYY) Texas Roadhouse, Inc. (NasdaqGS:TXRH) The Cheesecake Factory Incorporated (NasdaqGS:CAKE) United Natural Foods, Inc. (NYSE:UNFI) YUM! Brands, Inc. (NYSE:YUM)

71.5 % 76.5 79.4 98.8 91.8 83.9 94.0 89.6 84.4 98.5 83.8 83.9 61.9 90.8 82.9 79.1 28.6 99.8

Median

83.9 %

Mean

82.2 %

LTM revenue

$16,089.9 4,138.1 3,200.9 5,024.8

12,903.9 3,077.6 8,415.4 830.0 3,483.5 1,339.4 866.0 874.6 8,064.6

59,955.0 2,520.4 2,347.1

14,258.5 5,571.0

Historical

Revenue CAGR (3 Yr)

LTM EBITDA

3.9 % (1.6)

0.6 5.8 13.4 2.4 6.2 7.5 15.6 18.0 (17.5) 54.9 1.8 6.9 10.6 3.2 19.8 1.9

6.0 %

8.5 %

$1,429.9 381.8 380.2 589.7 134.3 384.9

1,166.7 228.1 619.8 453.6 259.2 151.9 197.1

3,252.5 289.6 228.7 364.3

1,918.0

$381.0

$690.6

EBITDA margin

8.9 % 9.2 11.9 11.7 1.0 12.5 13.9 27.5 17.8 33.9 29.9 17.4 2.4 5.4 11.5 9.7 2.6 34.4

11.8 %

14.5 %

Enterprise value (EV)

Last twelve months

EV/ Revenue

EV/ EBITDA

NTM

EV/ EBITDA

$14,819.3 4,182.3 2,826.8

21,689.3 2,058.6 3,963.6

14,951.2 3,337.6

14,210.0 9,280.2 3,083.1 1,533.7 1,286.6

43,589.9 4,752.9 2,164.7 3,887.7

40,814.3

$4,072.9

$10,690.7

0.9 x 1.0 0.9 4.3 0.2 1.3 1.8 4.0 4.1 6.9 3.6 1.8 0.2 0.7 1.9 0.9 0.3 7.3

1.5 x

2.3 x

10.4 x 11.0

7.4 36.8 15.3 10.3 12.8 14.6 22.9 20.5 11.9 10.1

6.5 13.4 16.4

9.5 10.7 21.3

12.4 x

14.5 x

8.9 x 10.2

7.7 32.2 11.5

9.9 12.0 12.3 20.3 19.3 11.6

8.9 5.9 12.0 14.5 9.6 5.9 19.6

11.6 x

12.9 x

Apparel & specialty retail (10) Carter's, Inc. (NYSE:CRI) Columbia Sportswear Company (NasdaqGS:COLM) G-III Apparel Group, Ltd. (NasdaqGS:GIII) Guess?, Inc. (NYSE:GES) Hanesbrands Inc. (NYSE:HBI) Iconix Brand Group, Inc. (NasdaqGS:ICON) Oxford Industries, Inc. (NYSE:OXM) PVH Corp. (NYSE:PVH) Ralph Lauren Corporation (NYSE:RL) V.F. Corporation (NYSE:VFC)

Median

Mean

88.8 % 94.7 80.8 67.4 82.1 14.4 80.3 76.3 86.7 93.5

81.4 %

76.5 %

3,447.5 2,849.6 3,076.2 2,609.7 6,920.5

187.7 1,107.5 9,656.8 6,336.5 13,506.6

4.1 % 6.3 % 9.5 % 6.1 % 6.4 % (11.6) % 4.5 % 6.4 % (5.1) % NA %

6.1 %

3.0 %

484.6 450.1 272.3 179.7 1,092.3

76.6 138.1 1,255.9 984.4 1,964.5

$467.4

$689.9

14.1 % 15.8

8.9 6.9 15.8 40.8 12.5 13.0 15.5 14.5

14.3 %

15.8 %

6,077.7 6,785.2 2,332.5 1,313.8 11,019.2

621.9 1,328.5 12,086.8 8,947.0 38,168.8

$6,431.4

$8,868.1

1.8 x 2.4 0.8 0.5 1.6 3.3 1.2 1.3 1.4 2.8

1.5 x

1.7 x

12.5 x 15.1

8.6 7.3 10.1 8.1 9.6 9.6 9.1 19.4

9.6 x

10.9 x

12.1 x 15.1

7.5 6.5 10.0 8.2 9.0 8.7 8.6 16.0

8.9 x

10.2 x

Overall Median

83.9 %

3.9 %

$524.9 14.5 %

$8,347.6

1.8 x

12.5 x

12.0 x

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Quarterly update | Q1 2019 | Consumer Products and Retail

Recent Consumer Products and Retail M&A transactions1

Target/acquiror ($ in millions)

Annouce date

FLAWLESS and FINISHING TOUCH Brands of IdeaVillage Products Corp. Church & Dwight Co., Inc.

Pending

Dean & DeLuca Caf? Japan Co., Ltd Welcome Co.,Ltd.

Pending

International Dehydrated Foods, Inc./American Dehydrated Foods, Inc. Symrise AG

Pending

The Fuller's Beer Company Ltd Asahi Europe Ltd

Pending

Dairy Crest Group plc Saputo Inc.

Apr-19

CytoSport Business of Hormel Foods Corporation PepsiCo, Inc.

Apr-19

GARANCIA SAS Unilever PLC

Apr-19

The worldwide rights to Gymboree and Crazy 8 The Children's Place, Inc.

Apr-19

All Assets of Innovative Mattress Solutions, LLC Tempur World LLC

Apr-19

St. Louis and Kansas City operations of Morey's Seafood International LLC ARC Group

Mar-19

ORION BREWERIES, LTD. Ocean Holdings Co., Ltd.

Mar-19

Janie and Jack Retail Chain of Gymboree Group Inc. The Gap, Inc.

Mar-19

Fresh Hemp Foods Ltd. Tilray, Inc.

Feb-19

Watson Foods Co., Inc. Glanbia Nutritionals, Inc.

Feb-19

Enviro Water Solutions, Inc. Pentair plc

Feb-19

Substantially all of the Assets of Sears Holdings Corporation ESL Investments, Inc.

Feb-19

Cott Beverages LLC Refresco Group N.V.

Feb-19

Wholesale Business Assets of Advanced Sports Enterprises, Inc. BikeCo, LLC

Feb-19

Ringers Gloves, Inc. Ansell Limited

Feb-19

Tangible Play, Inc. Think & Learn Pvt Ltd

Jan-19

Copper Dog Whisky Limited Diageo plc

Sep-18

Morley Brands, LLC Kar Nut Products Company

Oct-18

SFERRA Fine Linens, LLC Highlander Partners, L.P.

Oct-18

LTM revenue

LTM EBITDA

EBITDA margin

Enterprise value (EV)

Last twelve months

EV/ Revenue

EV/ EBITDA

$180.0

$55.0

30.6 %

$900.0

5.0 x

16.4 x

N/A

N/A

N/A

220.0

N/A

N/A

201.4

14.0

6.9

19.7

N/A

900.0

4.1

329.4

1.6

N/A N/A 23.6

602.7

114.8

19.0

1,580.0

2.6

13.8

300.0

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

465.0

1.6

N/A

N/A

N/A

N/A

76.0

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

519.2

N/A

N/A

35.0

N/A

N/A

N/A

N/A

N/A

318.5

N/A

N/A

101.0

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

89.0

0.9

N/A

120.0

N/A

N/A

5,200.0

N/A

N/A

80.0

N/A

N/A

50.0

0.6

N/A

N/A

N/A

N/A

34.0

N/A

N/A

N/A

N/A

N/A

23.0

N/A

N/A

70.0

2.1

N/A

120.0

N/A

N/A

N/A

N/A

N/A

25.3

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Median Mean

19.0 % 18.8 %

1.8 x 2.3 x

16.4 x 17.9 x

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