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<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;text-indent:4pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">7. Dividends on common stock:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Dividends are recorded as a reduction to retained earnings. Dividends on unvested restricted shares of common stock are paid as the awards vest. The Company’s initial quarterly dividend payment was made in the third quarter of 2012. In addition to the Company’s regular quarterly dividends, in 2013, the Company’s board of directors approved an additional return of capital program (the “Capital Program”). Under the Capital Program the Company plans on returning additional capital to the Company’s shareholders each quarter through either stock buybacks or a special dividend or a combination of stock buybacks and a special dividend. The aggregate payment under the Capital Program initially was a minimum of $10.0 million each quarter and was increased to be a minimum of $12.0 million each quarter. Amounts paid under the Capital Program are in addition to the Company’s regular quarterly dividend payments.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">On August 5, 2015, the Company’s board of directors approved the payment of the Company’s quarterly dividend of $0.34 per common share. The dividend for the third quarter of 2015 will be paid to holders of record on August 21, 2015. This estimated $15.2 million dividend payment is expected to be made on September 11, 2015.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">A summary of the Company’s quarterly dividends paid since its initial dividend payment is as follows (in thousands, except per share amounts):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 80.00%;margin-left:54pt;">
<tr>
<td valign="bottom" style="width:15.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Dividend Period</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Amount per</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Common Share</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Record Date</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Payment Date</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Dividends Paid</font></p>
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q3 2012</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.10
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">August 22, 2012</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">September 12, 2012</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,537
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q4 2012</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.11
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">November 21, 2012</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">December 12, 2102</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,012
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q1 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.12
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 4, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 15, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,489
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q2 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.13
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">May 31, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">June 18, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,145
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q3 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.14
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">September 5, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">September 25, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,512
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q4 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.37
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">November 27, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">December 20, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,206
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q1 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.39
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 7, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 27, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,352
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q2 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.17
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">May 30, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">June 18, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,882
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q3 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.30
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">August 29, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">September 19, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,792
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q4 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.31
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">November 26, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">December 12, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,190
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q1 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.35
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 11, 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 26, 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,001
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q2 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.42
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">May 22, 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">June 12, 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,972
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:13pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">A summary of the Company’s amounts paid under the Capital Program is as follows (in thousands, except per share amounts):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 90.00%;margin-left:54pt;">
<tr>
<td valign="bottom" style="width:16.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Dividend Period </font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Capital</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Program</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Amount</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Stock Buyback</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Amount</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">During the</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Period</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Stock Buyback</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Amount Greater</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">than Capital</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Program Amount?</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Payment Under</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Capital Program</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Paid As</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Dividend (1)</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Amount Per</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Share Paid As</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Dividends</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Under the</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Capital Program</font></p>
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q3 2013</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,000
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">No</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q4 2013</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,500
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">No</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,186
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.22
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q1 2014</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,500
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,196
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Yes</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,707
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.23
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q2 2014</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,500
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,888
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Yes</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q3 2014</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,000
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,943
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Yes</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q4 2014</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,000
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,555
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">No</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q1 2015</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,000
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,119
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">No</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,357
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.03
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q2 2015</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,000
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,106
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Yes</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,019
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.09
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 22.00pt; display: inline;">
<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
<font style="margin:0pt;font-family:Times New Roman;font-size:10pt;;"> (1)</font>
</p>
</td><td style="width:7pt;"><p style="width:7pt;width:7pt;font-size:0pt;"></p></td><td align="left" valign="top">
<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
<font style="display: inline;font-size:10pt;color:#000000;">Under the Capital Program if the amount spent on stock buybacks during a quarter is less than the program amount the difference is added to the dividend payment for the following quarter. The stock buyback amount for the second quarter of 2015 was $19.1 million and more than the Capital Program amount of $12.0 million. As a result no additional amounts will be added to the third quarter 2015 regular dividend.</font></p></td></tr></table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;color:#000000;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;color:#000000;">The payment of any future dividends and any other returns of capital will be at the discretion of the Company’s board of directors and may be reduced, eliminated or increased and will be dependent upon the Company’s financial position, results of operations, available cash, cash flow, capital requirements, limitations under the Company’s debt indentures as described in Note 3, and other factors deemed relevant by the Company’s board of directors. The Company is a Delaware Corporation and under the General Corporate Law of the State of Delaware distributions may be restricted including a restriction that distributions, including stock purchases and dividends, do not result in an impairment of a corporation’s capital, as defined under Delaware Law.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
8100000
10300000
5600000
8300000
1700000
4900000
4900000
2700000
4594000
2300000
700000
227000
208000
P60D
P60D
70
227000
114000
332000
160000
18
P18M
0
1000000
0.65
P3M
3900000
1900000
4300000
2100000
P18M
2
2
0.51
0.49
0.51
0.49
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;text-indent:13pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">A summary of the Company’s amounts paid under the Capital Program is as follows (in thousands, except per share amounts):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 90.00%;margin-left:54pt;">
<tr>
<td valign="bottom" style="width:16.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Dividend Period </font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Capital</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Program</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Amount</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Stock Buyback</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Amount</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">During the</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Period</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Stock Buyback</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Amount Greater</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">than Capital</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Program Amount?</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Payment Under</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Capital Program</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Paid As</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Dividend (1)</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Amount Per</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Share Paid As</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Dividends</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Under the</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Capital Program</font></p>
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q3 2013</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,000
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">No</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q4 2013</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,500
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">No</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,186
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.22
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q1 2014</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,500
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,196
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Yes</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,707
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.23
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q2 2014</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,500
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,888
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Yes</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q3 2014</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,000
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,943
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Yes</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q4 2014</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,000
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,555
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">No</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q1 2015</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,000
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,119
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">No</font></p>
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,357
</td>
<td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.03
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:16.04%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q2 2015</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,000
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:10.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,106
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:15.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Yes</font></p>
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,019
</td>
<td valign="bottom" style="width:02.78%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.74%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.09
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 22.00pt; display: inline;">
<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
<font style="margin:0pt;font-family:Times New Roman;font-size:10pt;;"> (1)</font>
</p>
</td><td style="width:7pt;"><p style="width:7pt;width:7pt;font-size:0pt;"></p></td><td align="left" valign="top">
<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
<font style="display: inline;font-size:10pt;color:#000000;">Under the Capital Program if the amount spent on stock buybacks during a quarter is less than the program amount the difference is added to the dividend payment for the following quarter. The stock buyback amount for the second quarter of 2015 was $19.1 million and more than the Capital Program amount of $12.0 million. As a result no additional amounts will be added to the third quarter 2015 regular dividend.</font></p></td></tr></table></div>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The amount of interest expense recognized and effective interest rates for the Convertible Notes were as follows (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 60.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:39.52%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.70%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:03.70%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:24.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:39.52%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.70%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.96%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:03.70%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:24.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:39.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Contractual coupon interest</font></p>
</td>
<td valign="bottom" style="width:03.70%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:24.02%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>189
</td>
<td valign="bottom" style="width:03.70%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:22.32%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>419
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:39.52%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Amortization of discount and costs on Notes</font></p>
</td>
<td valign="bottom" style="width:03.70%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.96%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,417
</td>
<td valign="bottom" style="width:03.70%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:24.12%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,106
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:39.52%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.70%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:25.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.70%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:24.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:39.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20.2pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Interest expense</font></p>
</td>
<td valign="bottom" style="width:03.70%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:24.02%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,606
</td>
<td valign="bottom" style="width:03.70%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:22.32%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,525
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:39.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.70%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:24.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:03.70%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:22.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:39.52%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Effective interest rate</font></p>
</td>
<td valign="bottom" style="width:03.70%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.96%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.7
</td>
<td valign="bottom" style="width:03.70%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">%</font></p>
</td>
<td colspan="2" valign="bottom" style="width:24.12%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.7
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">%</font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
3651000
1759000
5908000
2938000
10240
100
50000000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">6. Common stock buyback program:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:18pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The Company’s board of directors has approved purchases of the Company’s common stock under a buyback program (the “Buyback Program”)</font><font style="display: inline;font-size:10pt;">. </font><font style="display: inline;font-size:10pt;">On August 5, 2015 the Company’s board of directors approved an additional $50.0 million under the Buyback Program and extended the program through December 31, 2016.</font><font style="display: inline;font-size:10pt;"> At June 30, 2015, there was approximately $10.0 million remaining for purchases under the Buyback Program. During the three and six months ended June 30, 2015 and 2014, the Company purchased 0.6 million, 0.8 million, 0.5 million and 0.9 million shares of its common stock for $19.1 million, $27.2 million, $17.9 million and $32.1 million, respectively.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
false
--12-31
Q2
2015
2015-06-30
10-Q
0001158324
45598018
Yes
Large Accelerated Filer
COGENT COMMUNICATIONS HOLDINGS, INC.
13287000
15489000
33089000
30972000
32151000
40913000
-6462000
-12175000
460576000
440401000
1707000
1872000
2555000
-127000
3106000
1417000
46226
1200
120553
369243
761775000
682388000
339641000
276527000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">Basis of presentation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments that the Company considers necessary for the fair presentation of its results of operations and cash flows for the interim periods covered, and of the financial position of the Company at the date of the interim condensed consolidated balance sheet. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The operating results for interim periods are not necessarily indicative of the operating results for the entire year. While the Company believes that the disclosures are adequate to not make the information misleading, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in its 2014 annual report on Form 10-K.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The accompanying unaudited consolidated financial statements include all wholly-owned subsidiaries. All inter-company accounts and activity have been eliminated.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
29900000
14594000
8187000
7671000
7683000
151944000
120485000
304866000
349835000
287790000
224494000
44969000
-63296000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">4. Commitments and contingencies</font><font style="display: inline;font-size:10pt;">:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Current and potential litigation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">In accordance with the accounting guidance for contingencies, the Company accrues its estimate of a contingent liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Where it is probable that a liability has been incurred and there is a range of expected loss for which no amount in the range is more likely than any other amount, the Company accrues at the low end of the range. The Company reviews its accruals at least quarterly and adjusts them to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular matter. The Company has taken certain positions related to its obligations for leased circuit and dark fiber obligations for which it is reasonably possible could result in a loss of up to $2.3 million in excess of the amount accrued at June 30, 2015.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">On March 27, 2015 the City of Sunrise Firefighters Retirement Fund (“Plaintiff”) filed suit against the Company in the Court of Chancery of the State of Delaware alleging that certain bylaw amendments regarding litigation had been adopted by the board in violation of Delaware law. On March 30, the Company rescinded the amendments to the bylaws and withdrew from the proxy a request that the stockholders give an advisory vote on the amendments. On April 1, the Company filed a supplement to the proxy, which acknowledged that the Company’s certificate of incorporation does not give the Company’s board of directors the power to amend the bylaws of the Company and that the provision of the bylaws that purports to give the board of directors such authority is not enforceable absent a grant of such authority in the certificate of incorporation. The board of directors agreed that it will not seek to adopt, amend or repeal any bylaws other than by a vote of stockholders, unless such power is conferred on the board of directors through an amendment to the Company’s certificate of incorporation.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The Company and Plaintiff entered into a Memorandum of Understanding to settle the lawsuit, subject to Court approval. Pursuant to the proposed settlement, the Company agreed that the lawsuit was the sole cause of the Company’s above-referenced March 30 and April 1 disclosures. In exchange, Plaintiff will consent to dismissal of this case with prejudice and the parties will exchange mutual releases. On July 30, 2015 the court accepted the settlement agreement and awarded the plaintiffs’ attorneys fees.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Certain former sales employees of the Company filed a collective action against the Company in December 2011 in the United States District Court, Southern District of Texas, Houston Division alleging misclassification of the Company’s sales employees throughout the United States in violation of the Fair Labor Standards Act. The lawsuit sought to recover pay for allegedly unpaid overtime and other damages, including attorney’s fees. In March 2014, the judge de-certified the collective action. Each of the former employees that opted-in to the collective action retained the right to file an individual action. Approximately 70 former employees did so. The Company has settled a number of the cases that were filed and made the required settlement payments. Currently, only the case in California remains. In it the plaintiffs seek certification of a class or collective action related to the employees in California. The Company denies the claims and believes that the claims for unpaid overtime are without merit. The Company believes its classification of sales employees is in compliance with applicable law.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">In the normal course of business the Company is involved in other legal activities and claims. Because such matters are subject to many uncertainties and the outcomes are not predictable with assurance, the liability related to these legal actions and claims cannot be determined with certainty. Management does not believe that such claims and actions will have a material impact on the Company’s financial condition or results of operations. Judgment is required in estimating the ultimate outcome of any dispute resolution process, as well as any other amounts that may be incurred to conclude the negotiations or settle any litigation. Actual results may differ from these estimates under different assumptions or conditions and such differences could be material.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
0.10
0.11
0.12
0.13
0.14
0.37
0.39
0.56
0.17
0.30
0.31
0.35
0.77
0.42
0.001
0.001
75000000
75000000
46398729
45631978
46398729
45631978
46000
46000
827000
1164000
-6457000
2523000
92000000
78442000
39605000
83491000
42412000
165370000
83045000
176977000
88708000
0.0050
200000000
175000000
65000000
200000000
250000000
250000000
5600000
247500000
190800000
0.087
0.01
0.08375
0.08375
0.05625
0.05375
0.08375
0.05375
1.00
1.00
1.04219
1.04219
1.02813
1.01406
1.000
1.04188
108000000
240000000
P24M
300000
5900000
4230000
772000
1475000
48963000
47448000
34505000
34500000
17301000
17300000
34883000
34800000
17371000
17400000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">A summary of the Company’s quarterly dividends paid since its initial dividend payment is as follows (in thousands, except per share amounts):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 80.00%;margin-left:54pt;">
<tr>
<td valign="bottom" style="width:15.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Dividend Period</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Amount per</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Common Share</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Record Date</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Payment Date</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Dividends Paid</font></p>
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q3 2012</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.10
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">August 22, 2012</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">September 12, 2012</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,537
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q4 2012</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.11
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">November 21, 2012</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">December 12, 2102</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,012
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q1 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.12
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 4, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 15, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,489
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q2 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.13
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">May 31, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">June 18, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,145
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q3 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.14
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">September 5, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">September 25, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,512
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q4 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.37
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">November 27, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">December 20, 2013</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,206
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q1 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.39
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 7, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 27, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,352
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q2 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.17
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">May 30, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">June 18, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,882
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q3 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.30
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">August 29, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">September 19, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,792
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q4 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.31
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">November 26, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">December 12, 2014</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,190
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q1 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.35
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 11, 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">March 26, 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,001
</td>
<td valign="bottom" style="width:01.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:15.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Q2 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:13.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.42
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">May 22, 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:20.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">June 12, 2015</font></p>
</td>
<td valign="bottom" style="width:03.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,972
</td>
<td valign="bottom" style="width:01.24%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
0.03
0.03
-0.02
0.02
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Basic and diluted net income (loss) per common share</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Basic earnings per share (“EPS”) excludes dilution for common stock equivalents and is computed by dividing net income or (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding during each period, adjusted for the effect of dilutive common stock equivalents.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Shares of restricted stock are included in the computation of basic EPS as they vest and are included in diluted EPS, to the extent they are dilutive, determined using the treasury stock method. As of June 30, 2015 and 2014, 1.1 million and 0.8 million unvested shares of restricted common stock, respectively, are not included in the computation of basic income per share, as these shares were not vested. Using the “if-converted” method, the shares issuable upon conversion of the Company’s convertible senior notes (the “Convertible Notes”) were anti-dilutive for the three months ended June 30, 2014. Accordingly, that impact has been excluded from the computation of diluted loss per share. The Convertible Notes were repaid in June 2014 and are no longer outstanding. Anti-dilutive stock options and restricted shares excluded from diluted weighted average shares were 120,553 and 369,243 as of June 30, 2015 and 46,226 and 1,200 as of June 30, 2014, respectively. For the three and six months ended June 30, 2015 and 2014, the Company’s employees exercised options for 6,165, 12,624, 15,278 and 25,035 common shares, respectively.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The following details the determination of diluted weighted average shares:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 85.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:42.96%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Weighted average common shares - basic</font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,774,831
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,897,449
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,200,844
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Dilutive effect of stock options</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,749
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>59,270
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>68,504
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Dilutive effect of restricted stock</font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>236,927
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>338,247
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>379,067
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Weighted average common shares - diluted</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,054,507
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,294,966
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,648,415
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
0.35
0.35
0.35
0.35
-229000
-2361000
5597000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Financial instruments</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">At June 30, 2015, the carrying amount of cash and cash equivalents, accounts receivable, prepaid and other current assets, accounts payable and accrued expenses approximated fair value because of the short-term nature of these instruments. The Company measures its cash equivalents at amortized cost, which approximates fair value based upon quoted market prices (Level 1). Based upon recent trading prices (Level 2 — market approach) at June 30, 2015 the fair value of the Company’s $200.0 million senior unsecured notes was $190.8 million and the fair value of the Company’s $250.0 million senior secured notes was $247.5 million.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The Company was party to letters of credit totaling $0.4 million as of June 30, 2015. These letters of credit are secured by investments that are restricted and included in other assets.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
10110000
10100000
4959000
1837000
5026000
2731000
2268000
719000
-10144000
-10100000
16014000
7578000
903000
6078000
2528000
787000
814000
1535000
-13486000
-6791000
-89000
-4543000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="text-indent:0pt;margin-left:0pt; padding-right:13.6pt;"><font style="display: inline;font-weight:bold;font-size:10pt;">5.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Income taxes:</font></font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The effective income tax rates for the three and six months ended June 30, 2015 and 2014 are different from the U.S. federal income tax statutory rate of 35.0% primarily due to the impact of discrete expenses, permanent differences resulting from non-deductible equity-based compensation expense and from the impact of state taxes and foreign losses that have not met the criteria for recording as an income tax benefit. The components of income (loss) before income taxes consist of the following (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 92.00%;margin-left:21.6pt;">
<tr>
<td valign="bottom" style="width:20.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Domestic</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.80%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,078
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,578
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>903
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,014
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Foreign</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.02%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(4,543
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,791
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(89
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,486
</td>
<td valign="bottom" style="width:01.08%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">)</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.80%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,535
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>787
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>814
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.76%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,528
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
1195000
-421000
1558000
695000
2970000
-1126000
7822000
689000
3678000
3124000
68504
379067
59270
338247
42749
236927
404000
268000
516000
417000
25092000
13790000
21000000
9692000
3525000
1606000
419000
189000
P5Y
400000
677981000
660199000
761775000
682388000
60032000
64589000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">3. Long-term debt:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Debt extinguishment, redemption and new debt issuance- $250.0 million</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">In March 2015, Group redeemed its $240.0 million 8.375% senior notes due in 2018 (the “2018 Notes”) with the proceeds from its February 2015 issuance of $250.0 million of 5.375% senior secured notes (the “2022 Notes”) and existing cash on hand. In February 2015 the Company deposited $251.6 million with the trustee for the benefit of the holders of the 2018 Notes in order to redeem on March 12, 2015 the entire outstanding amount of 2018 Notes at a redemption price of 104.188% of the $240.0 million principal amount thereof plus accrued interest. As a result of this transaction the Company incurred a loss on debt extinguishment and redemption of $10.1 million.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The 2022 Notes were sold in private offerings for resale to qualified institutional buyers pursuant to SEC Rule 144A and mature on March 1, 2022. Interest accrues at 5.375% beginning on February 20, 2015 and is paid semi-annually in arrears on March 1 and September 1 of each year, commencing on September 1, 2015. The net proceeds from the offering were $248.6 million after deducting discounts and commissions and offering expenses. Issuance costs are included in deposits and other assets. The net proceeds from the offering are intended to be used for general corporate purposes.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The indenture governing the 2022 Notes provides that the Company and each of the Company’s existing domestic subsidiaries and future material domestic subsidiaries guarantee the 2022 Notes, subject to certain exceptions and permitted liens. The 2022 Notes are also secured by a pledge of all of the equity interests in Group’s domestic subsidiaries and 65% of the equity interests in Group’s first-tier foreign subsidiaries. The 2022 Notes and the subsidiary guarantees will be the Company’s and the subsidiary guarantors’ senior indebtedness and will rank </font><font style="display: inline;font-style:italic;font-size:10pt;">pari passu</font><font style="display: inline;font-size:10pt;"> in right of payment with all of the Company’s and the subsidiary guarantors’ existing and future senior indebtedness, effectively senior to Group’s senior unsecured indebtedness to the extent of the value of the collateral securing the 2022 Notes and the subsidiary guarantees, including Group’s $200.0 million 2021 Notes that were issued on April 9, 2014 and senior to any of the Company’s and the subsidiary guarantors’ future subordinated indebtedness. The 2022 Notes are structurally subordinated to the liabilities of the non-guarantor subsidiaries and are effectively subordinated to the Company’s and the subsidiary guarantors’ secured indebtedness to the extent of the value of the collateral securing such indebtedness on a basis senior to the 2022 Notes and the subsidiary guarantees. Holdings is also a guarantor of the 2022 Notes; however Holdings’s guarantee is unsecured and thus its guarantee is not secured by any of the Holdings assets. Holdings is also not subject to the covenants under the indenture governing the 2022 Notes.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The 2022 Notes may be redeemed prior to December 1, 2021 (three months prior to the maturity date of the Notes) in whole or from time to time in part, at a redemption price equal to the sum of (1) 100% of the principal amount plus accrued and unpaid interest, if any, to, but not including, the redemption date, and (2) a make-whole premium, if any. The make-whole premium is the excess of (1) the net present value, on the redemption date, of the principal being redeemed or paid and the amount of interest (exclusive of interest accrued to the date of redemption) that would have been payable if such redemption had not been made, over (2) the aggregate principal amount of the notes being redeemed or paid. Net present value shall be determined by discounting, on a semi-annual basis, such principal and interest at the reinvestment rate (as determined in the indenture governing the 2022 Notes) from the respective dates on which such principal and interest would have been payable if such redemption had not been made. In addition, at any time on or after December 1, 2021 (three months prior to the maturity date of the Notes), the Issuer may redeem the 2022 Notes, in whole and or in part, at a redemption price equal to 100% of the principal amount of the 2022 Notes to be redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The indenture governing the 2022 Notes, among other things, limits the Company’s ability to incur indebtedness; to pay dividends or make other distributions; to make certain investments and other restricted payments; to create liens; consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; to incur restrictions on the ability of a subsidiary to pay dividends or make other payments; and to enter into certain transactions with its affiliates. Limitations on the ability to incur additional indebtedness (excluding IRU agreements incurred in the normal course of business) include a restriction on incurring additional indebtedness if the Company’s consolidated leverage ratio, as defined in the Indenture is greater than 5.0. Permitted investments and payments that are not restricted total $56.7 million as of June 30, 2015 plus Holdings permitted investments of $30.8 million as of June 30, 2015 which are not subject to these limitations for a total permitted investment amount of $87.5 million as of June 30, 2015. This amount may be increased by the Company’s consolidated cash flow, as defined in the Indenture as long as the Company’s consolidated leverage ratio is less than 4.25.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Senior unsecured notes- $200.0 million</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">On April 9, 2014, Cogent Communications Finance, Inc. ( “Cogent Finance”), a newly formed financing subsidiary of Group, completed an offering of $200.0 million in aggregate principal amount at par of 5.625% Senior Notes due 2021 (the “2021 Notes”). The 2021 Notes were sold in private offerings for resale to qualified institutional buyers pursuant to SEC Rule 144A. The offering closed into escrow pursuant to an escrow agreement, dated as of April 9, 2014 (the “Escrow Agreement”). The term “Issuer” refers to Cogent Finance prior to the release of the funds from the escrow account (such date of release, the “Escrow Release Date”) and to Group after the Escrow Release Date. As a condition to releasing the funds from escrow the Company redeemed its remaining outstanding Convertible Notes on June 20, 2014 (the “Redemption Transaction”). After consummation of the Redemption Transaction, Cogent Finance merged with Group, with Group continuing as the surviving corporation (the “Finance Merger”). At the time of consummation of the Finance Merger, Group assumed the obligations of Cogent Finance under the 2021 Notes and the indenture governing the 2021 Notes (the “Indenture”) and Group and each of Group’s domestic subsidiaries became party to the Indenture pursuant to a supplemental indenture to the Indenture and the obligations under the Indenture became obligations solely of Group and each of Group’s domestic subsidiaries. Holdings also provided a guarantee of the 2021 Notes but Holdings is not subject to any of the covenants under the Indenture. After the conditions to the release of the escrow proceeds were satisfied, on June 25, 2014 (the “Escrow Release Date”) the proceeds from the 2021 Notes were released. The net proceeds from the offering were $195.8 million after deducting discounts and commissions and offering expenses. Issuance costs are included in deposits and other assets. The net proceeds from the offering are intended to be used for general corporate purposes.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The 2021 Notes were issued pursuant to, and are governed by the Indenture between Cogent Finance and the trustee. The 2021 Notes bear interest at a rate of 5.625% per year and mature on April 15, 2021. Interest began to accrue on the 2021 Notes on April 9, 2014 and is paid semi-annually on April 15 and October 15, commencing on October 15, 2014. Following the Escrow Release Date, the 2021 Notes became Group’s senior unsecured obligations and are guaranteed on a senior unsecured basis by the Company. The 2021 Notes are effectively subordinated in right of payment to all of Group’s and each guarantor’s secured indebtedness and future secured indebtedness, if any, to the extent of the value of the assets securing such indebtedness. The 2021 Notes are equal in right of payment with Group’s and each guarantor’s unsecured indebtedness that is not subordinated in right of payment to the 2021 Notes. The 2021 Notes rank senior in right of payment to Group’s and each guarantor’s future subordinated debt, if any; and are structurally subordinated in right of payment to all indebtedness and other liabilities of any of the Group’s subsidiaries that are not guarantors, which consists of immaterial subsidiaries and foreign subsidiaries that do not guarantee other indebtedness of Group.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The Company may redeem the 2021 Notes, in whole or in part, at any time prior to April 15, 2017 at a price equal to 100% of the principal amount plus an “applicable” premium, plus accrued and unpaid interest, if any, to the date of redemption. The “applicable” premium means, with respect to a note at any date of redemption, the greater of (i) 1.0% of the then-outstanding principal amount of such note and (ii) the excess of (A) the present value at such date of redemption of (1) the redemption price of 104.219% plus (2) all remaining required interest payments due on such note through April 15, 2017 (excluding accrued but unpaid interest to the date of redemption), computed using a discount rate equal to the Treasury Rate as of such date of redemption plus 50 basis points, over (B) the then-outstanding principal amount of such note. The Company may also redeem the 2021 Notes, in whole or in part, at any time on or after April 15, 2017 at the applicable redemption prices specified under the indenture governing the 2021 Notes plus accrued and unpaid interest, if any, to the date of redemption. The redemption prices (expressed as a percentage of the principal amount) are 104.219% during the 12-month period beginning on April 15, 2017, 102.813% during the 12-month period beginning on April 15, 2018, 101.406% during the 12-month period beginning on April 15, 2019 and 100.0% during the 12-month period beginning on April 15, 2020 and thereafter. In addition, the Company may redeem up to 35% of the 2021 Notes before April 15, 2017 with the net cash proceeds from certain equity offerings at a redemption price of 105.625% of the principal amount plus accrued and unpaid interest. If the Company experiences specific kinds of changes of control, the Company must offer to repurchase all of the 2021 Notes at a purchase price of 101.0% of their principal amount, plus accrued and unpaid interest, if any, to the repurchase date.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The indenture governing the 2021 Notes, among other things, limits the Company’s ability to incur indebtedness; to pay dividends or make other distributions; to make certain investments and other restricted payments; to create liens; consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; to incur restrictions on the ability of a subsidiary to pay dividends or make other payments; and to enter into certain transactions with its affiliates. Limitations on the ability to incur additional indebtedness (excluding IRU agreements incurred in the normal course of business) include a restriction on incurring additional indebtedness if the Company’s consolidated leverage ratio, as defined in the Indenture is greater than 5.0. Permitted investments and payments that are not restricted total $56.7 million as of June 30, 2015 plus Holdings permitted investments of $30.8 million as of June 30, 2015 which are not subject to these limitations for a total permitted investment amount of $87.5 million as of June 30, 2015. This amount may be increased by the Company’s consolidated cash flow, as defined in the Indenture as long as the Company’s consolidated leverage ratio is less than 4.25.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Senior secured notes- $240.0 million</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">On January 26, 2011 and on August 19, 2013, the Company issued its 8.375% 2018 Notes for aggregate principal amounts of $175.0 million and $65.0 million, respectively, in private offerings for resale to qualified institutional buyers pursuant to SEC Rule 144A. The 2018 Notes were secured and bore interest at 8.375% per annum. Interest was payable in cash semiannually in arrears on February 15 and August 15, of each year. On January 26, 2011, the Company received net proceeds of $170.5 million after deducting $4.5 million of issuance costs from issuing $175.0 million of its 2018 Notes. On August 19, 2013, the Company received net proceeds of approximately $69.9 million after deducting $1.0 million of issuance costs from issuing $65.0 million of 2018 Notes. The 2018 Notes sold in August 2013 were sold at 109.00% of par value. The resulting $5.9 million premium was being amortized as a reduction to interest expense to the maturity date using the effective interest rate method. In March 2015, the 2018 Notes were extinguished and redeemed with the proceeds of the Company’s issuance of its $250.0 million of 2022 Notes and cash on hand.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Convertible senior notes</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">In June 2007, the Company issued its Convertible Notes for an aggregate principal amount of $200.0 million in a private offering for resale to qualified institutional buyers pursuant to SEC Rule 144A. The Convertible Notes were scheduled to mature on June 15, 2027, were unsecured, and bore interest at 1.00% per annum. Interest was payable in cash semiannually in arrears on June 15 and December 15, of each year, beginning on December 15, 2007. The Company received net proceeds from the issuance of the Convertible Notes of approximately $195.1 million, after deducting the original issue discount of 2.25% and issuance costs. The discount and other issuance costs were being amortized to interest expense using the effective interest method through June 15, 2014, which was the earliest put date. In 2008, the Company purchased an aggregate of $108.0 million of face value of the Convertible Notes for $48.6 million in cash in a series of transactions resulting in $92.0 million of principal amount of the Convertible Notes remaining after these purchase transactions.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Holders of the Convertible Notes had the right to require the Company to repurchase for cash all or some of their notes on June 15, 2014, 2017 and 2022 at a redemption price of 100% of the principal amount plus accrued interest. Holders of $58.5 million of principal amount of the Convertible Notes issued a repurchase notice to the Company and on June 16, 2014 the Company repaid $58.5 million of Convertible Notes principal amount plus accrued interest. The Convertible Notes may have been redeemed by the Company at any time on and after June 20, 2014 at a redemption price of 100% of the principal amount plus accrued interest. On June 20, 2014 the Company redeemed the remaining $33.5 million principal amount of the Convertible Notes.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The asmount of interest expense recognized and effective interest rates for the Convertible Notes were as follows (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 60.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:40.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:04.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:04.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:01.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:40.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:04.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:04.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:40.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Contractual coupon interest</font></p>
</td>
<td valign="bottom" style="width:04.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:23.16%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>189
</td>
<td valign="bottom" style="width:04.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:23.14%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>419
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:40.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Amortization of discount and costs on Notes</font></p>
</td>
<td valign="bottom" style="width:04.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.02%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,417
</td>
<td valign="bottom" style="width:04.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.02%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,106
</td>
<td valign="bottom" style="width:01.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:40.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:04.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:25.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:04.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:25.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:40.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20.2pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Interest expense</font></p>
</td>
<td valign="bottom" style="width:04.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:23.16%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,606
</td>
<td valign="bottom" style="width:04.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:23.14%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,525
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:40.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:04.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:23.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:04.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:23.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:40.00%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Effective interest rate</font></p>
</td>
<td valign="bottom" style="width:04.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:25.02%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.7
</td>
<td valign="bottom" style="width:04.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">%</font></p>
</td>
<td colspan="2" valign="bottom" style="width:25.02%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.7
</td>
<td valign="bottom" style="width:01.66%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">%</font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
2300000
37683000
-75642000
-31516000
-23700000
39031000
38407000
1333000
1208000
-744000
840000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Recent Accounting Pronouncements</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:40pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">On May 28, 2014, the FASB issued ASU No. 2014-09, </font><font style="display: inline;font-style:italic;font-size:10pt;">Revenue from Contracts with Customers</font><font style="display: inline;font-size:10pt;"> , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company beginning on January 1, 2018. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:40pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">In April 2015, the FASB issued ASU No. 2015-03, Interest - </font><font style="display: inline;font-style:italic;font-size:10pt;">Imputation of Interest — Simplifying the Presentation of Debt Issuance Costs</font><font style="display: inline;font-size:10pt;"> . The ASU will require debt issuance costs to be presented as a deduction from the corresponding debt liability making the presentation of debt costs consistent with the presentation of debt discounts or premiums. The new standard is effective for the Company on January 1, 2016 and the ASU must be applied retrospectively to all prior periods.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
360795000
94082000
266713000
347580000
75572000
272008000
1
27216000
14309000
21298000
10810000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="text-indent:0pt;margin-left:0pt; padding-right:13.6pt;"><font style="display: inline;font-weight:bold;font-size:10pt;">1.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-size:3pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Description of the business and recent developments:</font></font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">Reorganization and merger</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">On May 15, 2014, pursuant to the Agreement and Plan of Reorganization (the “Merger Agreement”) by and among Cogent Communications Group, Inc. (“Group”), a Delaware corporation, Cogent Communications Holdings, Inc., a Delaware corporation (“Holdings”) and Cogent Communications Merger Sub, Inc., a Delaware corporation (“Merger Sub”), Group adopted a new holding company organizational structure whereby Group is now a wholly owned subsidiary of Holdings. Holdings is a “successor issuer” to Group pursuant to Rule 12g-3(a) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In connection with the succession, the common stock of Holdings is deemed to be registered under Section 12(b) of the Exchange Act by operation of law.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">References to the “Company” for events that occurred prior to May 15, 2014 refer to Cogent Communications Group, Inc. and its subsidiaries and on and after May 15, 2014 the “Company” refers to Cogent Communications Holdings, Inc. and its subsidiaries.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">Description of business</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The Company is a Delaware corporation and is headquartered in Washington, DC. The Company is a facilities-based provider of low-cost, high-speed Internet access and Internet Protocol (“IP”) communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and Japan.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The Company offers on-net Internet access services exclusively through its own facilities, which run from its network to its customers’ premises. The Company is not dependent on local telephone companies to serve its customers for its on-net Internet access services because of its integrated network architecture. The Company offers its on-net services to customers located in buildings that are physically connected to its network. The Company’s on-net service consists of high-speed Internet access and IP connectivity ranging from 100 Megabits per second to 100 Gigabits per second of bandwidth. The Company provides its on-net Internet access services to its net-centric and corporate customers. The Company’s net-centric customers include bandwidth-intensive users such as universities, other Internet service providers, telephone companies, cable television companies, web hosting companies, content delivery network companies and commercial content and application service providers. These net-centric customers obtain the Company’s services in colocation facilities and in the Company’s data centers. The Company operates data centers throughout North America and Europe that allow its customers to collocate their equipment and access the Company’s network. The Company’s corporate customers are located in multi-tenant office buildings and typically include law firms, financial services firms, advertising and marketing firms and other professional services businesses.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">In addition to providing its on-net services, the Company provides Internet connectivity to customers that are not located in buildings directly connected to its network. The Company provides this off-net service primarily to corporate customers in North America using other carriers’ facilities to provide the “last mile” portion of the link from the customers’ premises to the Company’s network. The Company also provides certain non-core services that resulted from acquisitions. The Company continues to support but does not actively sell these non-core services.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">Basis of presentation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments that the Company considers necessary for the fair presentation of its results of operations and cash flows for the interim periods covered, and of the financial position of the Company at the date of the interim condensed consolidated balance sheet. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The operating results for interim periods are not necessarily indicative of the operating results for the entire year. While the Company believes that the disclosures are adequate to not make the information misleading, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in its 2014 annual report on Form 10-K.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The accompanying unaudited consolidated financial statements include all wholly-owned subsidiaries. All inter-company accounts and activity have been eliminated.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Use of estimates</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Financial instruments</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">At June 30, 2015, the carrying amount of cash and cash equivalents, accounts receivable, prepaid and other current assets, accounts payable and accrued expenses approximated fair value because of the short-term nature of these instruments. The Company measures its cash equivalents at amortized cost, which approximates fair value based upon quoted market prices (Level 1). Based upon recent trading prices (Level 2 — market approach) at June 30, 2015 the fair value of the Company’s $200.0 million senior unsecured notes was $190.8 million and the fair value of the Company’s $250.0 million senior secured notes was $247.5 million.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The Company was party to letters of credit totaling $0.4 million as of June 30, 2015. These letters of credit are secured by investments that are restricted and included in other assets.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Basic and diluted net income (loss) per common share</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Basic earnings per share (“EPS”) excludes dilution for common stock equivalents and is computed by dividing net income or (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding during each period, adjusted for the effect of dilutive common stock equivalents.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Shares of restricted stock are included in the computation of basic EPS as they vest and are included in diluted EPS, to the extent they are dilutive, determined using the treasury stock method. As of June 30, 2015 and 2014, 1.1 million and 0.8 million unvested shares of restricted common stock, respectively, are not included in the computation of basic income per share, as these shares were not vested. Using the “if-converted” method, the shares issuable upon conversion of the Company’s convertible senior notes (the “Convertible Notes”) were anti-dilutive for the three months ended June 30, 2014. Accordingly, that impact has been excluded from the computation of diluted loss per share. The Convertible Notes were repaid in June 2014 and are no longer outstanding. Anti-dilutive stock options and restricted shares excluded from diluted weighted average shares were 120,553 and 369,243 as of June 30, 2015 and 46,226 and 1,200 as of June 30, 2014, respectively. For the three and six months ended June 30, 2015 and 2014, the Company’s employees exercised options for 6,165, 12,624, 15,278 and 25,035 common shares, respectively.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The following details the determination of diluted weighted average shares:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 85.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:42.96%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Weighted average common shares - basic</font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,774,831
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,897,449
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,200,844
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Dilutive effect of stock options</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,749
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>59,270
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>68,504
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Dilutive effect of restricted stock</font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>236,927
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>338,247
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>379,067
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Weighted average common shares - diluted</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,054,507
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,294,966
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,648,415
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Recent Accounting Pronouncements</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:40pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">On May 28, 2014, the FASB issued ASU No. 2014-09, </font><font style="display: inline;font-style:italic;font-size:10pt;">Revenue from Contracts with Customers</font><font style="display: inline;font-size:10pt;"> , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company beginning on January 1, 2018. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:40pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">In April 2015, the FASB issued ASU No. 2015-03, Interest - </font><font style="display: inline;font-style:italic;font-size:10pt;">Imputation of Interest — Simplifying the Presentation of Debt Issuance Costs</font><font style="display: inline;font-size:10pt;"> . The ASU will require debt issuance costs to be presented as a deduction from the corresponding debt liability making the presentation of debt costs consistent with the presentation of debt discounts or premiums. The new standard is effective for the Company on January 1, 2016 and the ASU must be applied retrospectively to all prior periods.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
-506000
-44000
-5713000
1683000
21775000
25125000
32084000
27225000
10186000
10707000
1357000
4019000
4500000
1000000
4537000
5012000
5489000
6145000
6512000
17206000
26234000
18352000
7882000
13792000
14190000
34973000
16001000
18972000
15200000
31608000
23782000
18762000
21061000
195100000
170500000
69900000
195800000
248599000
248600000
195824000
92000
82000
301000
219000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">2. Property and equipment:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Depreciation and amortization expense related to property and equipment and capital leases was $17.4 million $34.8 million, $17.3 million and $34.5 million for the three and six months ended June 30, 2015 and 2014, respectively. The Company capitalized salaries and related benefits of employees working directly on the construction and build-out of its network of $2.1 million, $4.3 million, $1.9 million and $3.9 million for the three and six months ended June 30, 2015 and 2014, respectively.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Exchange agreement</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">In the three and six months ended June 30, 2015 and 2014, the Company exchanged certain used network equipment for new network equipment and cash consideration. The fair value of the equipment received was estimated to be $1.7 million, $8.3 million, $5.6 million and $10.3 million, respectively, and resulted in gains of $0.7 million, $2.3 million, $2.7 million and $4.9 million, respectively. The estimated fair value of the equipment received was based upon the cash consideration price the Company pays for the new network equipment on a standalone basis (Level 3).</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Purchase and installment payment agreements</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">In January 2015, the Company entered into a purchase agreement with a vendor. Under the purchase agreement the Company is required to purchase a total of $28.9 million of network equipment during the eighteen month term. As of June 30, 2015, the Company was required to make an additional $19.5 million of purchases under the purchase agreement. In March 2015, the Company entered into an installment payment agreement (“IPA”) with this vendor. Under the IPA the Company may purchase up to $25.0 million of network equipment through July 2015 in exchange for interest free note obligations each with a twenty-four month term. There are no payments under each note obligation for the first six months followed by eighteen equal installment payments for the remaining eighteen month term. As of June 30, 2015, the Company had entered into $5.6 million of note obligations under the IPA. The Company recorded the net present value of the note obligation utilizing an imputed interest rate. The resulting discount totaling $0.3 million as of June 30, 2015, under the note obligations is being amortized over the note term using the effective interest rate method.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Gain on capital lease termination</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">In March 2015 the Company elected to terminate certain IRU capital lease obligations in Spain with a vendor. The Company obtained alternative fiber to serve its customers in Spain. Under its estimate of the termination provisions of the related contracts the Company has recorded an estimated termination liability of $8.1 million included in accrued and other current liabilities. The difference between the remaining carrying amount of the related IRU capital lease ($29.9 million), liabilities the remaining net book value of the IRU assets ($10.0 million) and the termination liability and amounts due through the termination date has been recorded as a gain on capital lease termination of $10.1 million.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
360761000
10000000
347550000
19500000
28900000
25000000
300000
100000
400000
300000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">8. Related party transactions:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:4pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Office lease</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:18pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The Company’s headquarters was located in an office building owned by Niobium LLC (a successor to 6715 Kenilworth Avenue Partnership). The two owners of Niobium LLC are the Company’s Chief Executive Officer, David Schaeffer, who has a 51% interest in Niobium LLC and his wife who has a 49% interest. The lease was scheduled to end on August 31, 2016 and was cancellable by the Company upon 60 days’ notice. The Company terminated the lease effective as of May 10, 2015. In April 2015, the Company entered into a new lease agreement for its headquarters building with Sodium LLC whose two owners are the Company’s Chief Executive Officer, David Schaeffer, who has a 51% interest in Sodium LLC and his wife who has a 49% interest. The Company moved into the new headquarters building in May 2015. The fixed annual rent for the new headquarters building is $1.0 million per year plus an allocation of taxes and utilities. The lease term is for five years and is cancellable by the Company upon 60 days’ notice. The Company’s audit committee reviews and approves all transactions with related parties. The Company paid $0.3 million, $0.4 million, $0.1 million and $0.3 million in the three and six months ended June 30, 2015 and 2014, respectively, for rent and related costs (including taxes and utilities) to these lessors, respectively.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
48600000
91978000
58500000
33500000
8146000
10982000
251280000
240000000
-370366000
-406083000
187560000
39950000
147610000
94623000
20056000
74567000
196041000
35210000
160831000
98799000
17605000
81194000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The components of income (loss) before income taxes consist of the following (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 92.00%;margin-left:21.6pt;">
<tr>
<td valign="bottom" style="width:20.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Domestic</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.80%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,078
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,578
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>903
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,014
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Foreign</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:17.02%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(4,543
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,791
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(89
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,486
</td>
<td valign="bottom" style="width:01.08%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">)</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.80%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,535
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>787
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>814
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.78%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,528
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:20.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;text-indent:18pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The Company’s service revenue and long lived assets by geographic region are as follows (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 93.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:36.94%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:00.92%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Revenues</font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:00.92%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">North America</font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>81,194
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>74,567
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>160,831
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>147,610
</td>
<td valign="bottom" style="width:00.92%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Europe</font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,605
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,056
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,210
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39,950
</td>
<td valign="bottom" style="width:00.92%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.92%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>98,799
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>94,623
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>196,041
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.64%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>187,560
</td>
<td valign="bottom" style="width:00.92%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:11.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:11.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:11.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:11.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.92%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:36pt;">
<tr>
<td valign="bottom" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">June 30,</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Long lived assets, net</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">North America</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>272,008
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>266,713
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Europe</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>75,572
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>94,082
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>347,580
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>360,795
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 85.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:42.96%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Weighted average common shares - basic</font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,774,831
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,897,449
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,200,844
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Dilutive effect of stock options</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,749
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>59,270
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>68,504
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Dilutive effect of restricted stock</font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>236,927
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>338,247
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>379,067
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Weighted average common shares - diluted</font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,054,507
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,294,966
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:16.60%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,648,415
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.96%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
244230000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;">9. Segment information:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:18pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The Company operates as one operating segment. The Company’s service revenue and long lived assets by geographic region are as follows (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 93.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:36.94%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">June 30, 2014</font></p>
</td>
<td valign="bottom" style="width:00.92%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Revenues</font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:00.92%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">North America</font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>81,194
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>74,567
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>160,831
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>147,610
</td>
<td valign="bottom" style="width:00.92%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Europe</font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,605
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,056
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,210
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39,950
</td>
<td valign="bottom" style="width:00.92%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:12.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.92%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>98,799
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>94,623
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.66%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>196,041
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:11.64%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>187,560
</td>
<td valign="bottom" style="width:00.92%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.94%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:11.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:11.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:11.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.68%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:11.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.92%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:36pt;">
<tr>
<td valign="bottom" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">June 30,</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">2014</font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Long lived assets, net</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">North America</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>272,008
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>266,713
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Europe</font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>75,572
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>94,082
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>347,580
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.54%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>360,795
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 12pt">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:65.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.88%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.16%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The majority of North American revenue consists of services delivered within the United States.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
52423000
26139000
58603000
28925000
250000000
250000000
3878000
6240000
800000
1100000
83794000
22189000
25035
15278
12624
6165
900000
500000
800000
600000
14196000
32100000
17888000
15943000
10555000
8119000
27200000
19106000
10000000
200000000
200000000
200000000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-style:italic;font-size:10pt;">Use of estimates</font>
</p>
<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates.</font>
</p>
<p><font size="1"> </font></p>
</div> </div>
46648415
46294966
45012441
45054507
46200844
45897449
45012441
44774831