DIEBOLD NIXDORF, Inc 10-Q for FY2021 Q1

DIEBOLD NIXDORF, Inc (DBD)

10-Q 2021-05-10 For: 2021-03-31

Added on April 08, 2026

About this 10-Q

DIEBOLD NIXDORF, Inc filed this 10-Q on May 10, 2021, covering the quarter ended March 31, 2021 (FY2021 Q1).

Headline figures

Quarter ended March 31, 2021, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $943.9M; up 3.6% from $910.7M a year earlier
Net loss: $8.1M; compared with a net loss of $92.8M a year earlier

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Part I - Financial Information			3
Item 1: Financial Statements			3
Condensed Consolidated Balance Sheets – March 31, 2021 (Unaudited) and December 31, 2020			3
Condensed Consolidated Statements of Operations (Unaudited) – Three Months Ended March 3 1 , 202 1 and 20 20			4
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) – Three Months Ended M arch 3 1 , 202 1 and 20 20			5
Condensed Consolidated Statements of Cash Flows (Unaudited) – Three Months Ended March 3 1 , 202 1 and 20 20			6
Notes to Condensed Consolidated Financial Statements (Unaudited)			7
Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations			29
Item 3: Quantitative and Qualitative Disclosures About Market Risk			43
Item 4: Controls and Procedures			43
Part II - Other Information			44
Item 1: Legal Proceedings			44
Item 1A: Risk Factors			44
Item 2: Unregistered Sales of Equity Securities and Use of Proceeds			44
Item 3: Defaults Upon Senior Securities			44
Item 4: Mine Safety Disclosures			44
Item 5: Other Information			44
Item 6: Exhibits			45
Signatures			46


	March 31, 2021		December 31, 2020
	(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	234.8	$	324.5
Short-term investments	21.3		37.2
Trade receivables, less allowances for doubtful accounts of $35.1 and $37.5, respectively	629.1		646.9
Inventories	538.7		498.2
Prepaid expenses	58.6		58.8
Current assets held for sale	63.8		64.7
Other current assets	246.6		227.0
Total current assets	1,792.9		1,857.3
Securities and other investments	10.4		10.3
Property, plant and equipment, net of accumulated depreciation and amortization of $538.3 and $536.1, respectively	156.7		177.5
Goodwill	771.4		800.4
Deferred income taxes	99.0		97.5

Customer relationships, net	370.4		407.9


Other assets	314.8		306.5
Total assets	$	3,515.6	$	3,657.4
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Current liabilities
Notes payable	$	11.0	$	10.7
Accounts payable	546.9		499.9
Deferred revenue	365.8		346.8
Payroll and other benefits liabilities	201.4		226.6
Current liabilities held for sale	15.4		15.4

Other current liabilities	488.4		550.1
Total current liabilities	1,628.9		1,649.5
Long-term debt	2,270.7		2,335.7
Pensions, post-retirement and other benefits	205.9		228.7


Deferred income taxes	103.4		103.4
Other liabilities	146.7		152.6

Redeemable noncontrolling interests	—		19.2
Equity
Diebold Nixdorf, Incorporated shareholders' equity
Preferred shares, no par value, 1,000,000 authorized shares, none issued	—		—
Common shares, $1.25 par value, 125,000,000 authorized shares, 94,438,989 and 93,534,866 issued shares, 78,209,484 and 77,678,984 outstanding shares, respectively	118.0		116.9
Additional capital	809.5		787.9
Retained earnings (accumulated deficit)	(750.4)		(742.3)
Treasury shares, at cost (16,229,505 and 15,855,882 shares, respectively)	(581.9)		(576.7)
Accumulated other comprehensive loss	(443.8)		(412.9)
Total Diebold Nixdorf, Incorporated shareholders' equity	(848.6)		(827.1)
Noncontrolling interests	8.6		(4.6)
Total equity	(840.0)		(831.7)
Total liabilities, redeemable noncontrolling interests and equity	$	3,515.6	$	3,657.4


	Three Months Ended
	March 31,
	2021		2020
Net sales
Services	$	573.6	$	587.8
Products	370.3		322.9
	943.9		910.7
Cost of sales
Services	389.6		437.5
Products	281.1		246.4
	670.7		683.9
Gross profit	273.2		226.8
Selling and administrative expense	203.4		222.1
Research, development and engineering expense	34.1		32.5

(Gain) loss on sale of assets, net	(0.5)		(1.8)
	237.0		252.8
Operating profit (loss)	36.2		(26.0)
Other income (expense)
Interest income	1.7		1.1
Interest expense	(48.7)		(48.0)
Foreign exchange gain, net	5.7		0.4
Miscellaneous, net	(0.7)		(0.9)
Loss before taxes	(5.8)		(73.4)
Income tax expense	1.2		20.0
Equity in (loss) earnings of unconsolidated subsidiaries	(1.1)		—
Net loss	(8.1)		(93.4)
Net (loss) income attributable to noncontrolling interests	—		(0.6)
Net loss attributable to Diebold Nixdorf, Incorporated	$	(8.1)	$	(92.8)

Basic and diluted weighted-average shares outstanding	78.0		77.2


Net loss attributable to Diebold Nixdorf, Incorporated
Basic and diluted loss per share	$	(0.10)	$	(1.20)


	Three Months Ended
	March 31,
	2021		2020
Net loss	$	(8.1)	$	(93.4)
Other comprehensive income (loss), net of tax
Translation adjustment	(35.3)		(96.6)
Foreign currency hedges (net of tax of $0.0 and $0.3, respectively)	1.6		0.7
Interest rate hedges
Net income (loss) recognized in other comprehensive income (net of tax of $0.4 and $(4.1), respectively)	2.1		(19.7)
Reclassification adjustment for amounts recognized in net income	(0.5)		4.5
	1.6		(15.2)
Pension and other post-retirement benefits
Net actuarial loss amortized (net of tax of $0.5 and $3.5, respectively)	2.6		6.8




Other	(0.9)		(1.2)
Other comprehensive loss, net of tax	(30.4)		(105.5)
Comprehensive loss	(38.5)		(198.9)
Less: Comprehensive income (loss) attributable to noncontrolling interests	0.5		(1.9)
Comprehensive loss attributable to Diebold Nixdorf, Incorporated	$	(39.0)	$	(197.0)


	Three Months Ended
	March 31,
	2021		2020
Cash flow from operating activities
Net loss	$	(8.1)	$	(93.4)
Adjustments to reconcile net loss to cash flow used by operating activities:
Depreciation and amortization	19.8		26.5

Amortization of Wincor Nixdorf purchase accounting intangible assets	19.9		21.4
Amortization of deferred financing costs into interest expense	4.3		5.6
Share-based compensation	3.5		4.0

(Gain) loss on sale of assets, net	(0.5)		(1.8)

Deferred income taxes	1.8		(14.1)

Changes in certain assets and liabilities
Trade receivables	(1.3)		(8.0)
Inventories	(60.2)		(33.9)
Accounts payable	64.1		47.3
Deferred revenue	32.2		66.4
Sales tax and net value added tax	(24.5)		(20.4)

Income taxes	(8.5)		31.8

Accrued salaries, wages and commissions	(18.9)		(46.4)
Restructuring	(10.6)		(4.8)
Warranty liability	(0.4)		(3.6)
Liabilities held for sale	—		(13.1)
Pension and post retirement benefits	(16.4)		(11.0)
Certain other assets and liabilities	(61.4)		(30.7)
Net cash provided (used) by operating activities	(65.2)		(78.2)
Cash flow from investing activities
Capital expenditures	(2.5)		(5.4)
Capitalized software development	(5.9)		(5.1)
Proceeds from divestitures, net of cash divested	—		(38.5)


Proceeds from maturities of investments	109.2		40.1
Payments for purchases of investments	(97.6)		(44.5)


Net cash provided (used) by investing activities	3.2		(53.4)
Cash flow from financing activities

Debt issuance costs	—		(3.8)

Revolving credit facility borrowings (repayments), net	(30.0)		385.9
Other debt borrowings	0.6		20.0
Other debt repayments	(2.4)		(83.1)
Contributions from noncontrolling interest holders	12.7		—


Other	(5.8)		(5.0)
Net cash provided (used) by financing activities	(24.9)		314.0
Effect of exchange rate changes on cash and cash equivalents	(1.8)		(15.6)
Change in cash and cash equivalents	(88.7)		166.8
Add: Cash included in assets held for sale at beginning of period	2.7		97.2
Less: Cash included in assets held for sale at end of period	3.7		32.8
Cash and cash equivalents at the beginning of the period	324.5		280.9
Cash and cash equivalents at the end of the period	$	234.8	$	512.1


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


	March 31, 2021		December 31, 2020
Finished goods	$	212.1	$	204.7
Service parts	172.7		169.0
Raw materials and work in process	153.9		124.5
Total inventories	$	538.7	$	498.2


	Cost Basis		Unrealized Gain / (Loss)		Fair Value
As of March 31, 2021
Short-term investments
Certificates of deposit	$	21.3	$	—	$	21.3



Long-term investments
Assets held in a rabbi trust	$	5.3	$	1.4	$	6.7

As of December 31, 2020
Short-term investments
Certificates of deposit	$	37.2	$	—	$	37.2


Long-term investments
Assets held in a rabbi trust	$	5.2	$	1.4	$	6.6


	March 31, 2021		December 31, 2020
Gross minimum lease receivables	$	46.7	$	44.0
Allowance for credit losses	(0.3)		(0.2)
Estimated unguaranteed residual values	0.2		0.2
	46.6		44.0
Less:
Unearned interest income	(1.4)		(1.5)


Total	$	45.2	$	42.5


	Eurasia Banking		Americas Banking		Retail		Total
Goodwill	$	579.2	$	431.3	$	224.4	$	1,234.9
Accumulated impairment	(291.7)		(122.0)		(57.2)		(470.9)
Balance at January 1, 2020	$	287.5	$	309.3	$	167.2	$	764.0
Transferred to assets held for sale	(1.4)		—		—		(1.4)
Divestitures	(6.4)		(2.4)		(1.2)		(10.0)
Currency translation adjustment	19.0		15.8		13.0		47.8
Goodwill	$	590.4	$	444.7	$	236.2	$	1,271.3

Accumulated impairment	(291.7)		(122.0)		(57.2)		(470.9)
Balance at December 31, 2020	$	298.7	$	322.7	$	179.0	$	800.4
Transferred to assets held for sale	—		—		—		—
Divestitures	—		—		(0.3)		(0.3)

Currency translation adjustment	(11.4)		(9.5)		(7.8)		(28.7)
Goodwill	$	579.0	$	435.2	$	228.1	$	1,242.3

Accumulated impairment	(291.7)		(122.0)		(57.2)		(470.9)
Balance at March 31, 2021	$	287.3	$	313.2	$	170.9	$	771.4


		March 31, 2021						December 31, 2020
	Weighted-average remaining useful lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships, net	4.9 years	$	728.1	$	(357.7)	$	370.4	$	762.0	$	(354.1)	$	407.9

Internally-developed software	2.0 years	198.7		(160.9)		37.8		198.0		(160.0)		38.0
Development costs non-software	1.8 years	53.6		(53.3)		0.3		56.1		(55.8)		0.3
Other intangibles	6.3 years	67.3		(65.1)		2.2		69.8		(67.4)		2.4
Other intangible assets, net		319.6		(279.3)		40.3		323.9		(283.2)		40.7
Total		$	1,047.7	$	(637.0)	$	410.7	$	1,085.9	$	(637.3)	$	448.6


	2021		2020
Beginning balance as of January 1	$	38.0	$	46.0
Capitalization	5.9		5.1
Amortization	(6.0)		(7.8)

Transferred to held for sale	(1.0)		(1.1)
Currency translation adjustment	0.9		1.1
Ending balance as of March 31	$	37.8	$	43.3


	DN Now
	Severance		Other
Eurasia Banking	$	78.9	$	2.5
Americas Banking	12.9		0.1
Retail	38.7		2.2
Corporate	54.3		7.1
Total	$	184.8	$	11.9


									Accumulated Other Comprehensive Income (Loss)		Total Diebold Nixdorf, Incorporated Shareholders' Equity
	Common Shares		Additional Capital		Accumulated Deficit		Treasury Shares						Non-controlling Interests		Total Equity
Balance, December 31, 2020	$	116.9	$	787.9	$	(742.3)	$	(576.7)	$	(412.9)	$	(827.1)	$	(4.6)	$	(831.7)
Net loss	—		—		(8.1)		—		—		(8.1)		—		(8.1)
Other comprehensive loss	—		—		—		—		(30.9)		(30.9)		0.5		(30.4)
Share-based compensation issued	1.1		(1.1)		—		—		—		—		—		—
Share-based compensation expense	—		3.5		—		—		—		3.5		—		3.5
Treasury shares	—		—		—		(5.2)		—		(5.2)		—		(5.2)

Redeemable noncontrolling interest adjustments	—		19.2		—		—		—		19.2		12.7		31.9

Balance, March 31, 2021	$	118.0	$	809.5	$	(750.4)	$	(581.9)	$	(443.8)	$	(848.6)	$	8.6	$	(840.0)


2021	$	16.5
2022	8.7
2023	6.6
2024	6.0
2025	5.5
Thereafter	3.4
	$	46.7


	March 31, 2021		December 31, 2020
Notes payable
Uncommitted lines of credit	$	1.3	$	0.2



Term Loan B Facility - USD	4.8		4.8
Term Loan B Facility - Euro	4.9		5.1
Other	—		0.6
	$	11.0	$	10.7
Long-term debt
Revolving Facility	$	30.1	$	60.1


Term Loan B Facility - USD	384.5		385.7
Term Loan B Facility - Euro	392.5		412.1
2024 Senior Notes	400.0		400.0
2025 Senior Secured Notes - USD	700.0		700.0
2025 Senior Secured Notes - EUR	410.4		429.5
Other	3.2		3.1
	2,320.7		2,390.5
Long-term deferred financing fees	(50.0)		(54.8)
	$	2,270.7	$	2,335.7


Foreign Currency Derivative	Number of Instruments	Notional Sold		Notional Purchased

Currency forward agreements (USD-BRL)	6	54.9	BRL	10.1	USD
Currency forward agreements (GBP-EUR)	8	5.6	GBP	6.5	EUR
Currency forward agreements (USD-EUR)	4	2.4	EUR	2.8	USD


	Translation		Foreign Currency Hedges		Interest Rate Hedges		Pension and Other Post-retirement Benefits		Other		Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2021	$	(256.7)	$	(2.6)	$	(6.1)	$	(146.9)	$	(0.6)	$	(412.9)
Other comprehensive income (loss) before reclassifications (1)	(35.8)		1.6		2.1		—		(0.9)		(33.0)
Amounts reclassified from AOCI	—		—		(0.5)		2.6		—		2.1
Net current-period other comprehensive income (loss)	(35.8)		1.6		1.6		2.6		(0.9)		(30.9)
Balance at March 31, 2021	$	(292.5)	$	(1.0)	$	(4.5)	$	(144.3)	$	(1.5)	$	(443.8)


	Three Months Ended				Affected Line Item on the Statement of Operations
	March 31,
	2021		2020
Interest rate hedge gain/(loss)	$	(0.5)	$	4.5		Interest expense
Pension and post-retirement benefits:
Net actuarial loss amortized (net of tax of $0.5 and $3.5, respectively)	2.6		6.8			Miscellaneous, net
Total reclassifications for the period	$	2.1	$	11.3


	Pension Benefits
	U.S.Plans				Non-U.S. Plans				Other Benefits
	2021		2020		2021		2020		2021		2020
Components of net periodic benefit cost
Service cost	$	0.8	$	1.0	$	2.5	$	2.5	$	—	$	—
Interest cost	4.0		4.7		0.8		1.0		0.2		0.1
Expected return on plan assets	(6.4)		(6.3)		(3.8)		(3.3)		—		—
Recognized net actuarial loss	2.2		1.9		0.8		(0.1)		0.1		—

Other	—		—		—		0.1		—		—
Net periodic pension benefit cost	$	0.6	$	1.3	$	0.3	$	0.2	$	0.3	$	0.1


Derivative instrument	Classification on condensed consolidated statements of operations	Three Months Ended
		March 31,
		2021		2020
Foreign exchange forward contracts and cash flow hedges	Foreign exchange gain (loss), net	$	(4.2)	$	(13.6)
Interest rate swaps and non-designated hedges	Interest expense	(1.9)		(1.5)
Foreign exchange forward contracts and cash flow hedges	Net sales	—		0.3
Total		$	(6.1)	$	(14.8)


		March 31, 2021						December 31, 2020
				Fair Value Measurements Using						Fair Value Measurements Using
	Classification on condensed consolidated Balance Sheets	Fair Value		Level 1		Level 2		Fair Value		Level 1		Level 2
Assets
Short-term investments
Certificates of deposit	Short-term investments	$	21.3	$	21.3	$	—	$	37.2	$	37.2	$	—
Assets held in rabbi trusts	Securities and other investments	6.7		6.7		—		6.6		6.6		—
Foreign exchange forward contracts	Other current assets	—		—		—		1.7		—		1.7


Total		$	28.0	$	28.0	$	—	$	45.5	$	43.8	$	1.7
Liabilities
Foreign exchange forward contracts	Other current liabilities	$	—	$	—	$	—	$	2.7	$	—	$	2.7
Interest rate swaps	Other liabilities	1.8		—		1.8		3.0		—		3.0
Deferred compensation	Other liabilities	6.7		6.7		—		6.6		6.6		—
Total		$	8.5	$	6.7	$	1.8	$	12.3	$	6.6	$	5.7


	Three Months Ended
	March 31,
Timing of revenue recognition	2021		2020
Products transferred at a point in time	39	%	35	%
Products and services transferred over time	61	%	65	%
Net sales	100	%	100	%


Contract balance information	Trade Receivables		Contract liabilities
Balance at December 31	$	646.9	$	346.8
Balance at March 31	$	629.1	$	365.8


	Three Months Ended						Percent of Total Net Sales for the Three Months Ended
	March 31,						March 31,
	2021		2020		% Change	% Change in CC (1)	2021	2020
Segments
Eurasia Banking
Services	$	189.6	$	206.0	(8.0)	(13.9)	20.1	22.6
Products	138.2		104.5		32.2	24.2	14.6	11.5
Total Eurasia Banking	327.8		310.5		5.6	(1.1)	34.7	34.1

Americas Banking
Services	227.7		239.5		(4.9)	(3.5)	24.1	26.3
Products	84.0		105.2		(20.2)	(18.2)	8.9	11.6
Total Americas Banking	311.7		344.7		(9.6)	(8.0)	33.0	37.9

Retail
Services	156.3		142.3		9.8	1.5	16.6	15.6
Products	148.1		113.2		30.8	22.8	15.7	12.4
Total Retail	304.4		255.5		19.1	10.9	32.3	28.0

Total net sales	$	943.9	$	910.7	3.6	(0.1)	100.0	100.0


	Three Months Ended
	March 31,
Eurasia Banking:	2021			2020			% Change
Net sales	$	327.8		$	310.5		5.6
Segment operating profit	$	25.0		$	22.8		9.6
Segment operating profit margin	7.6		%	7.3		%


	Three Months Ended
	March 31,
Americas Banking:	2021			2020			% Change
Net sales	$	311.7		$	344.7		(9.6)
Segment operating profit	$	40.2		$	46.5		(13.5)
Segment operating profit margin	12.9		%	13.5		%


	Three Months Ended
	March 31,
Retail:	2021			2020			% Change
Net sales	$	304.4		$	255.5		19.1
Segment operating profit	$	27.1		$	11.1		144.1
Segment operating profit margin	8.9		%	4.3		%


Summary of cash flows:	March 31, 2021		March 31, 2020
Net cash provided (used) by operating activities	$	(65.2)	$	(78.2)
Net cash provided (used) by investing activities	3.2		(53.4)
Net cash provided (used) by financing activities	(24.9)		314.0
Effect of exchange rate changes on cash and cash equivalents	(1.8)		(15.6)
Change in cash and cash equivalents	$	(88.7)	$	166.8


	Summarized Balance Sheets
	March 31, 2021		December 31, 2020
Total current assets	$	465.8	$	449.9
Total non-current assets	$	1,942.1	$	1,504.6

Total current liabilities	$	1,311.7	$	1,252.5
Total non-current liabilities	$	2,034.9	$	2,084.3


	Summarized Statements of Operations
	Three Months Ended		Year Ended
	March 31, 2021		December 31, 2020
Net sales	$	257.8	$	1,097.4
Cost of sales	178.5		784.3
Selling and administrative expense	99.0		446.4
Research, development and engineering expense	9.8		38.1
Impairment of assets	—		2.5
Gain on sale of assets, net	—		(0.5)
Interest income	0.2		1.1
Interest expense	(33.4)		(267.8)
Foreign exchange gain (loss), net	4.3		(9.5)
Miscellaneous, net	34.4		156.9
Loss from continuing operations before taxes	$	(24.0)	$	(292.7)

Net (loss) income	$	(20.7)	$	(269.1)
Net (loss) income attributable to Diebold Nixdorf, Incorporated	$	(20.7)	$	(269.1)


Period	Total Number of Shares Purchased (1)	Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans (2)	Maximum Number of Shares that May Yet Be Purchased Under the Plans (2)
January	1,747	$	9.51	—	2,426,177
February	361,769	$	13.91	—	2,426,177
March	10,107	$	12.81	—	2,426,177
Total	373,623	$	13.86	—




3.1(i)						Amended and Restated Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.1(i) to Registrant’s Annual Report on Form 10-K for the year ended December 31, 1994 (Commission File No. 1-4879)

3.1(ii)						Amended and Restated Code of Regulations – incorporated by reference to Exhibit 3.1(ii) to Registrant’s Current Report on Form 8-K filed on February 17, 2017 (Commission File No. 1-4879)

3.2						Certificate of Amendment by Shareholders to Amended Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.2 to Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 1996 (Commission File No. 1-4879)

3.3						Certificate of Amendment to Amended Articles of Incorporation of Diebold, Incorporated – incorporated by reference to Exhibit 3.3 to Registrant’s Annual Report on Form 10-K for the year ended December 31, 1998 (Commission File No. 1-4879)

3.4						Certificate of Amendment to Amended Articles of Incorporation of Diebold Nixdorf, Incorporated – incorporated by reference to Exhibit 3.1(i) to Registrant’s Current Report on Form 8-K filed on December 12, 2016 (Commission File No. 1-4879)

3.5						Certificate of Amendment to Amended Articles of Incorporation of Diebold Nixdorf, Incorporated, effective April 26, 2017 – incorporated by reference to Exhibit 3.5 to Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 (Commission File No. 1-4879)

10.1						Performance Unit Award Agreement, dated February 12, 2021, by and between Diebold Nixdorf, Incorporated and Gerrard Schmid, incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on February 16, 2021 (Commission File No. 1-4879)

10.44						Performance Unit Award Agreement, dated February 23, 2021, by and between Diebold Nixdorf, Incorporated and Jeffrey Rutherford incorporated by reference to Exhibit 10.44 to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2021 (Commission File No. 1-4879)

22.1						List of Subsidiary Guarantors

31.1						Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2						Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1						Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350

32.2						Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350

101.INS						Inline XBRL Instance Document

101.SCH						Inline XBRL Taxonomy Extension Schema Document

101.CAL						Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF						Inline XBRL Taxonomy Extension Definition Linkbase Document

101.LAB						Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE						Inline XBRL Taxonomy Extension Presentation Linkbase Document

104						Cover Page Interactive Data File (embedded within the Inline XBRL document included in Exhibit 101)