Income Statement Empire Company Limited

Equities

EMP.A

CA2918434077

Food Retail & Distribution

Delayed Toronto S.E. Other stock markets 09:30:00 2025-12-16 EST			5-day change	1st Jan Change
47.45 ^CAD	-0.11%		-7.66%	+8.23%

12-12	Empire Price Target Lowered to $50 at TD	MT
12-11	Empire Company Limited, Q2 2026 Earnings Call, Dec 11, 2025

186a6c854b78c12b080a8ca61.mPhIHOtGlvH4CNsjv5o-L54aLffawyQVpm3b6Sz9tZ8.qbUuft4S-b-uO6EQ8tMPefN_Hs6otGJ6i1WKvBW0gO3wiBxFxnDggr1Jjg

Published financial data: EMPIRE COMPANY LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: May	2021	2022	2023	2024	2025
Revenues	28.27B	30.16B	30.48B	30.73B	31.28B
Gain (Loss) on Sale of Investment, Total (Rev)	-	-	-	-	-
Other Revenues, Total	67.3M	110M	104M	66.8M	83M
Total Revenues	28.34B	30.27B	30.58B	30.8B	31.36B
Cost of Goods Sold, Total	21.07B	22.5B	22.69B	22.66B	22.9B
Gross Profit	7.27B	7.77B	7.9B	8.14B	8.46B
Selling General & Admin Expenses, Total	5.96B	6.46B	6.7B	6.93B	7.2B
Other Operating Expenses	-	-47M	-	-39.6M	-
Other Operating Expenses, Total	5.96B	6.41B	6.7B	6.89B	7.2B
Operating Income	1.31B	1.35B	1.19B	1.25B	1.26B
Interest Expense, Total	-293M	-302M	-284M	-304M	-319M
Interest And Investment Income	29.5M	26.1M	23.8M	26M	26M
Net Interest Expenses	-263M	-276M	-260M	-278M	-293M
Other Non Operating Income (Expenses)	2M	1.5M	1M	19.2M	6M
EBT, Excl. Unusual Items	1.05B	1.08B	935M	988M	973M
Restructuring Charges	-54.8M	-29.5M	-1.6M	-67M	-41M
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Assets	37.1M	23.1M	44.7M	108M	57M
Asset Writedown	-1.6M	7.4M	-12.9M	-300K	-12M
Other Unusual Items	-	-	-	-	18M
EBT, Incl. Unusual Items	1.03B	1.08B	965M	1.03B	995M
Income Tax Expense	266M	270M	238M	266M	249M
Earnings From Continuing Operations	764M	811M	728M	763M	746M
Net Income to Company	764M	811M	728M	763M	746M
Minority Interest	-62.7M	-65.5M	-41.7M	-37.4M	-46M
Net Income - (IS)	702M	746M	686M	725M	700M
Net Income to Common Incl Extra Items	702M	746M	686M	725M	700M
Net Income to Common Excl. Extra Items	702M	746M	686M	725M	700M
Per Share Items
Net EPS - Basic	2.61	2.81	2.65	2.92	2.94
Basic EPS - Continuing Operations	2.61	2.81	2.65	2.92	2.94
Basic Weighted Average Shares Outstanding	268M	265M	259M	248M	238M
Net EPS - Diluted	2.6	2.8	2.64	2.92	2.93
Diluted EPS - Continuing Operations	2.6	2.8	2.64	2.92	2.93
Diluted Weighted Average Shares Outstanding	269M	266M	259M	248M	239M
Normalized Basic EPS	2.21	2.3	2.1	2.34	2.36
Normalized Diluted EPS	2.2	2.29	2.09	2.33	2.36
Dividend Per Share	0.52	0.6	0.66	0.73	0.8
Payout Ratio	19.87	21.02	24.81	25.06	27.14
Supplemental Items
EBITDA	1.71B	1.8B	1.66B	1.72B	2.29B
EBITA	1.34B	1.39B	1.23B	1.28B	1.29B
EBIT	1.31B	1.35B	1.19B	1.25B	1.26B
EBITDAR	1.66B	1.74B	1.6B	1.68B	2.26B
Effective Tax Rate - (Ratio)	25.81	24.99	24.62	25.85	25.03
Total Current Taxes	171M	231M	212M	170M	215M
Total Deferred Taxes	95.3M	39.5M	25.6M	96.3M	34M
Normalized Net Income	593M	610M	543M	580M	562M
Interest Capitalized	500K	600K	1.6M	1.8M	4M
Interest on Long-Term Debt	293M	302M	286M	305M	319M
Non-Cash Pension Expense	6.7M	6.1M	5.1M	4.9M	1M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	-	-	-	-	-
Net Rental Expense, Total	-46.4M	-61.2M	-59.3M	-46.3M	-32M
Imputed Operating Lease Interest Expense	-15.47M	-20.29M	-18.48M	-15.54M	-11.16M
Imputed Operating Lease Depreciation	-30.93M	-40.91M	-40.82M	-30.76M	-20.84M
Stock-Based Comp., SG&A Exp. (Total)	34.7M	18.9M	-5.9M	-3.8M	86M
Stock-Based Comp., Other (Total)	11.8M	14.6M	17.3M	9.1M	-
Total Stock-Based Compensation	46.5M	33.5M	11.4M	5.3M	86M

Fiscal Period: May	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	890M	812M	221M	260M	285M
Total Cash And Short Term Investments	890M	812M	221M	260M	285M
Accounts Receivable, Total	638M	633M	769M	793M	789M
Other Receivables	60.5M	48.7M	90.8M	69.7M	54M
Notes Receivable	-	-	-	-	-
Total Receivables	698M	681M	859M	863M	843M
Inventory	1.5B	1.59B	1.74B	1.77B	1.83B
Prepaid Expenses	101M	128M	131M	162M	173M
Other Current Assets, Total	3.4M	-	-	47.3M	-
Total Current Assets	3.19B	3.21B	2.96B	3.1B	3.13B
Gross Property Plant And Equipment	10.2B	10.81B	10.97B	11.39B	11.76B
Accumulated Depreciation	-2.54B	-2.65B	-2.78B	-2.91B	-3.12B
Net Property Plant And Equipment	7.66B	8.16B	8.2B	8.48B	8.64B
Long-term Investments	578M	685M	702M	688M	720M
Goodwill	1.58B	2.06B	2.07B	2.06B	2.06B
Other Intangibles, Total	976M	1.34B	1.38B	1.35B	1.36B
Accounts Receivable Long-Term	497M	504M	541M	548M	559M
Loans Receivable Long-Term	47.1M	45.5M	45.6M	52.8M	77M
Deferred Tax Assets Long-Term	475M	425M	404M	305M	270M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	173M	165M	193M	197M	206M
Total Assets	15.17B	16.59B	16.48B	16.79B	17.02B
Liabilities
Accounts Payable, Total	2.87B	2.99B	3.03B	3.03B	2.96B
Accrued Expenses, Total	1.4M	1.4M	-	-	162M
Current Portion of Long-Term Debt	46.5M	581M	101M	114M	225M
Current Portion of Leases	490M	510M	564M	585M	597M
Current Income Taxes Payable	22.1M	128M	61.3M	104M	73M
Other Current Liabilities	53.6M	31.3M	103M	54M	79M
Total Current Liabilities	3.49B	4.24B	3.86B	3.89B	4.1B
Long-Term Debt	1.18B	596M	911M	982M	857M
Long-Term Leases	5.42B	5.78B	5.62B	5.68B	5.78B
Unearned Revenue Non Current	7.1M	9.2M	-	5.1M	4M
Pension & Other Post Retirement Benefits	254M	178M	167M	160M	162M
Deferred Tax Liability Non Current	191M	260M	269M	266M	262M
Other Non Current Liabilities	140M	401M	322M	338M	309M
Total Liabilities	10.68B	11.46B	11.15B	11.32B	11.48B
Common Stock, Total	1.97B	2.03B	1.92B	1.78B	1.66B
Additional Paid In Capital	25.2M	37.2M	50.1M	56.2M	30M
Retained Earnings	2.36B	2.91B	3.22B	3.48B	3.7B
Comprehensive Income and Other	13.7M	13.2M	18.8M	19.7M	22M
Total Common Equity	4.37B	4.99B	5.2B	5.34B	5.41B
Minority Interest	125M	142M	136M	128M	134M
Total Equity	4.5B	5.13B	5.34B	5.47B	5.54B
Total Liabilities And Equity	15.17B	16.59B	16.48B	16.79B	17.02B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	267M	262M	252M	242M	232M
ECS Total Common Shares Outstanding	265M	263M	253M	242M	233M
Book Value / Share	16.47	19	20.53	22.07	23.26
Tangible Book Value	1.82B	1.59B	1.76B	1.93B	2B
Tangible Book Value Per Share	6.85	6.07	6.94	7.97	8.58
Total Debt	7.13B	7.46B	7.2B	7.36B	7.46B
Net Debt	6.24B	6.65B	6.98B	7.1B	7.18B
Debt Equivalent of Unfunded Proj. Benefit Obligation	146M	89.4M	79.6M	71.3M	70M
Debt Equivalent Oper. Leases	-371M	-490M	-474M	-370M	-256M
Minority Interest, Total (Incl. Fin. Div)	125M	142M	136M	128M	134M
Equity Method Investments, Total	570M	682M	702M	688M	720M
Account Code - Inventory Valuation	-	6	6	6	6
Land - (BS)	387M	373M	372M	428M	419M
Buildings, Total	1.2B	1.18B	1.21B	1.28B	1.37B
Machinery, Total	2.6B	2.79B	2.81B	2.95B	3.13B
Full Time Employees	134K	130K	131K	128K	-
Accumulated Allowance for Doubtful Accounts (Supple)	36.3M	24.2M	21.4M	28.4M	30M

Fiscal Period: May	2021	2022	2023	2024	2025
Net Income	702M	746M	686M	725M	700M
Depreciation & Amortization - CF	769M	872M	916M	950M	1B
Amortization of Goodwill and Intangible Assets - (CF)	27.5M	39.6M	38.8M	33.4M	29M
Depreciation & Amortization, Total	796M	912M	955M	983M	1.03B
Amortization of Deferred Charges, Total - (CF)	50.3M	57M	77.4M	88.6M	90M
(Gain) Loss From Sale Of Asset	-37.1M	-23.1M	-44.7M	-108M	-57M
Asset Writedown & Restructuring Costs	1.6M	-7.4M	12.9M	300K	17M
(Income) Loss On Equity Investments - (CF)	35.7M	9.5M	-10.2M	19.3M	-3M
Stock-Based Compensation (CF)	11.8M	14.6M	17.3M	9.1M	16M
Other Operating Activities, Total	380M	446M	219M	435M	306M
Change In Accounts Receivable	-	-	-	5.6M	10M
Change In Inventories	-	-	-	-21.2M	-56M
Change In Accounts Payable	-	-	-	-38.7M	104M
Change in Other Net Operating Assets	-80.9M	-46.8M	-307M	-24M	-31M
Cash from Operations	1.86B	2.11B	1.61B	2.07B	2.13B
Capital Expenditure	-566M	-633M	-574M	-705M	-640M
Sale of Property, Plant, and Equipment	114M	166M	48.9M	146M	127M
Cash Acquisitions	-15.9M	-242M	-18.7M	-19.2M	-15M
Sale (Purchase) of Intangible assets	-92.8M	-147M	-184M	-93.5M	-137M
Investment in Marketable and Equity Securities, Total	-	-124M	-3.4M	-6.1M	-26M
Net (Increase) Decrease in Loans Originated / Sold - Investing	48.9M	105M	50M	80M	96M
Other Investing Activities, Total	10.1M	-15M	-3.8M	-10.2M	-2M
Cash from Investing	-502M	-891M	-685M	-608M	-597M
Long-Term Debt Issued, Total	86.4M	94.6M	425M	182M	218M
Total Debt Issued	86.4M	94.6M	425M	182M	218M
Long-Term Debt Repaid, Total	-957M	-663M	-1.1B	-627M	-780M
Total Debt Repaid	-957M	-663M	-1.1B	-627M	-780M
Repurchase of Common Stock	-154M	-249M	-350M	-400M	-400M
Common Dividends Paid	-139M	-157M	-170M	-182M	-190M
Common & Preferred Stock Dividends Paid	-139M	-157M	-170M	-182M	-190M
Other Financing Activities, Total	-311M	-320M	-319M	-401M	-353M
Cash from Financing	-1.48B	-1.29B	-1.51B	-1.43B	-1.5B
Net Change in Cash	-118M	-78.2M	-591M	38.3M	25M
Supplemental Items
Cash Interest Paid	289M	288M	282M	291M	319M
Cash Income Tax Paid (Refund)	199M	113M	320M	106M	240M
Levered Free Cash Flow	742M	981M	565M	757M	1.1B
Unlevered Free Cash Flow	925M	1.17B	743M	947M	1.29B
Change In Net Working Capital	128M	-101M	290M	111M	-77M
Net Debt Issued / Repaid	-871M	-568M	-673M	-444M	-562M

Fiscal Period: May	2021	2022	2023	2024	2025
Profitability
Return on Assets	5.5	5.33	4.51	4.68	4.66
Return on Total Capital	7.25	6.99	5.94	6.14	6.1
Return On Equity %	17.96	16.85	13.9	14.12	13.55
Return on Common Equity	16.91	15.93	13.46	13.76	13.02
Margin Analysis
Gross Profit Margin %	25.64	25.67	25.82	26.42	26.99
SG&A Margin	21.02	21.34	21.92	22.5	22.98
EBITDA Margin %	6.02	5.94	5.44	5.6	7.31
EBITA Margin %	4.72	4.61	4.03	4.15	4.11
EBIT Margin %	4.63	4.48	3.91	4.05	4.02
Income From Continuing Operations Margin %	2.7	2.68	2.38	2.48	2.38
Net Income Margin %	2.48	2.46	2.24	2.35	2.23
Net Avail. For Common Margin %	2.48	2.46	2.24	2.35	2.23
Normalized Net Income Margin	2.09	2.01	1.77	1.88	1.79
Levered Free Cash Flow Margin	2.62	3.24	1.85	2.46	3.49
Unlevered Free Cash Flow Margin	3.26	3.86	2.43	3.07	4.13
Asset Turnover
Asset Turnover	1.9	1.91	1.85	1.85	1.86
Fixed Assets Turnover	3.89	3.83	3.74	3.69	3.66
Receivables Turnover (Average Receivables)	45.53	47.48	43.5	39.36	39.54
Inventory Turnover (Average Inventory)	14.1	14.56	13.61	12.89	12.7
Short Term Liquidity
Current Ratio	0.92	0.76	0.77	0.8	0.77
Quick Ratio	0.46	0.35	0.28	0.29	0.28
Operating Cash Flow to Current Liabilities	0.53	0.5	0.42	0.53	0.52
Days Sales Outstanding (Average Receivables)	7.99	7.81	8.37	9.25	9.21
Days Outstanding Inventory (Average Inventory)	25.82	25.49	26.75	28.23	28.66
Average Days Payable Outstanding	50.3	48.14	47.96	48.63	46.25
Cash Conversion Cycle (Average Days)	-16.48	-14.84	-12.83	-11.16	-8.39
Long Term Solvency
Total Debt/Equity	158.59	145.35	134.86	134.58	134.63
Total Debt / Total Capital	61.33	59.24	57.42	57.37	57.38
LT Debt/Equity	146.65	124.11	122.4	121.8	119.81
Long-Term Debt / Total Capital	56.71	50.58	52.12	51.92	51.06
Total Liabilities / Total Assets	70.36	69.06	67.62	67.43	67.42
EBIT / Interest Expense	4.48	4.49	4.21	4.1	3.95
EBITDA / Interest Expense	7.2	7.51	7.57	7.34	7.18
(EBITDA - Capex) / Interest Expense	5.26	5.41	5.55	5.02	5.18
Total Debt / EBITDA	3.39	3.29	3.35	3.3	3.26
Net Debt / EBITDA	2.96	2.93	3.25	3.18	3.13
Total Debt / (EBITDA - Capex)	4.63	4.57	4.57	4.83	4.52
Net Debt / (EBITDA - Capex)	4.05	4.07	4.43	4.66	4.35
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	6.22	6.83	1.02	0.71	1.82
Gross Profit, 1 Yr. Growth %	8.09	6.92	1.63	3.05	4.02
EBITDA, 1 Yr. Growth %	19.65	8.78	-5.97	3.85	7.91
EBITA, 1 Yr. Growth %	24.11	8.66	-9.66	3.89	9.89
EBIT, 1 Yr. Growth %	24.46	7.88	-9.88	4.47	10.53
Earnings From Cont. Operations, 1 Yr. Growth %	24.71	6.16	-10.3	4.8	-2.23
Net Income, 1 Yr. Growth %	20.22	6.32	-8.02	5.71	-3.58
Normalized Net Income, 1 Yr. Growth %	28.95	9.12	-8.22	7.03	9.31
Diluted EPS Before Extra, 1 Yr. Growth %	20.93	7.69	-5.71	10.61	0.34
Accounts Receivable, 1 Yr. Growth %	5.68	-0.85	21.5	3.17	-0.5
Inventory, 1 Yr. Growth %	0.72	6.09	9.54	1.63	3.44
Net Property, Plant and Equip., 1 Yr. Growth %	10.69	6.56	0.49	3.46	1.84
Total Assets, 1 Yr. Growth %	3.7	9.36	-0.66	1.86	1.36
Tangible Book Value, 1 Yr. Growth %	31.6	-12.36	10.23	9.76	3.47
Common Equity, 1 Yr. Growth %	11.42	14.15	4.19	2.71	1.29
Cash From Operations, 1 Yr. Growth %	-11	13.31	-23.81	29.22	2.6
Capital Expenditures, 1 Yr. Growth %	3.19	11.78	-9.29	22.81	-9.22
Levered Free Cash Flow, 1 Yr. Growth %	-15.02	38.66	-41.27	34.13	56.58
Unlevered Free Cash Flow, 1 Yr. Growth %	-12.99	31.36	-35.48	27.61	45.55
Dividend Per Share, 1 Yr. Growth %	8.33	15.38	10	10.61	9.59
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.94	6.52	3.89	0.87	1.26
Gross Profit, 2 Yr. CAGR %	8.34	7.5	4.24	2.34	3.54
EBITDA, 2 Yr. CAGR %	35.66	12.24	0.31	-1.23	17.45
EBITA, 2 Yr. CAGR %	50.01	13.73	-1.98	-3.18	2.3
EBIT, 2 Yr. CAGR %	52.97	13.43	-2.48	-3.04	2.78
Earnings From Cont. Operations, 2 Yr. CAGR %	35.47	15.06	-2.42	-3.05	1.25
Net Income, 2 Yr. CAGR %	34.58	13.06	-1.11	-1.39	1.02
Normalized Net Income, 2 Yr. CAGR %	47.89	15.14	-1.45	-0.98	1.86
Diluted EPS Before Extra, 2 Yr. CAGR %	35.31	14.12	0.77	2.12	5.35
Accounts Receivable, 2 Yr. CAGR %	19.85	2.37	9.76	11.96	1.32
Inventory, 2 Yr. CAGR %	2	3.37	7.8	5.51	2.54
Net Property, Plant and Equip., 2 Yr. CAGR %	62.16	8.61	3.48	1.97	2.65
Total Assets, 2 Yr. CAGR %	25.71	6.49	4.23	0.59	1.61
Tangible Book Value, 2 Yr. CAGR %	15.23	7.39	-1.72	9.99	6.58
Common Equity, 2 Yr. CAGR %	4.51	12.78	9.05	3.44	2
Cash From Operations, 2 Yr. CAGR %	44.91	0.42	-7.09	-0.78	15.11
Capital Expenditures, 2 Yr. CAGR %	17.37	7.4	0.7	5.55	5.57
Levered Free Cash Flow, 2 Yr. CAGR %	58.34	6.01	-10.61	-11.32	39.32
Unlevered Free Cash Flow, 2 Yr. CAGR %	62.56	4.91	-8.67	-9.32	32.11
Dividend Per Share, 2 Yr. CAGR %	8.71	11.8	12.66	10.3	10.1
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.24	6.23	4.66	2.82	1.18
Gross Profit, 3 Yr. CAGR %	6.6	7.86	5.51	3.84	2.9
EBITDA, 3 Yr. CAGR %	34.93	24.67	5.23	1.44	9.02
EBITA, 3 Yr. CAGR %	57.41	32.85	4.58	-0.1	-1.89
EBIT, 3 Yr. CAGR %	62.19	34.24	4.29	-0.26	-1.67
Earnings From Cont. Operations, 3 Yr. CAGR %	61.98	24.9	5.9	-0.07	-2.76
Net Income, 3 Yr. CAGR %	63.84	24.41	5.54	1.11	-2.09
Normalized Net Income, 3 Yr. CAGR %	75.32	31.01	5.67	1.24	-1.68
Diluted EPS Before Extra, 3 Yr. CAGR %	64.24	25.4	7.08	3.94	1.52
Accounts Receivable, 3 Yr. CAGR %	13.77	12.51	8.38	7.52	7.64
Inventory, 3 Yr. CAGR %	6.22	3.35	5.39	5.7	4.82
Net Property, Plant and Equip., 3 Yr. CAGR %	40.05	40.98	5.83	3.48	1.92
Total Assets, 3 Yr. CAGR %	20.55	20	4.05	3.43	0.85
Tangible Book Value, 3 Yr. CAGR %	-0.72	5.18	8.33	1.97	7.78
Common Equity, 3 Yr. CAGR %	5.7	7.63	9.84	6.9	2.72
Cash From Operations, 3 Yr. CAGR %	28.34	33.5	-8.41	3.71	0.31
Capital Expenditures, 3 Yr. CAGR %	33.17	15.47	1.52	7.59	0.37
Levered Free Cash Flow, 3 Yr. CAGR %	15.96	49.12	-13.48	2.28	4.4
Unlevered Free Cash Flow, 3 Yr. CAGR %	19.92	49.52	-11.25	2.06	3.99
Dividend Per Share, 3 Yr. CAGR %	7.38	10.89	11.2	11.97	10.06
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.76	4.83	4.7	4.05	3.29
Gross Profit, 5 Yr. CAGR %	3.66	5.99	5.65	5.62	4.72
EBITDA, 5 Yr. CAGR %	9.98	20.09	19.06	13.21	9.93
EBITA, 5 Yr. CAGR %	14.63	30.81	29.16	16.56	3.64
EBIT, 5 Yr. CAGR %	15.55	32.9	31.2	17.34	3.65
Earnings From Cont. Operations, 5 Yr. CAGR %	-18.42	36.29	32.26	12.86	4.01
Net Income, 5 Yr. CAGR %	-19.93	36.31	33.88	13.37	3.71
Normalized Net Income, 5 Yr. CAGR %	14.36	37.59	37.59	16.42	4.09
Diluted EPS Before Extra, 5 Yr. CAGR %	-19.69	37.01	35.09	15.51	6.39
Accounts Receivable, 5 Yr. CAGR %	5.45	8.87	12.15	12.29	5.5
Inventory, 5 Yr. CAGR %	3.11	3.78	6.85	4.21	4.24
Net Property, Plant and Equip., 5 Yr. CAGR %	19.48	21.88	24.08	23.85	4.55
Total Assets, 5 Yr. CAGR %	10.67	13.8	13.73	11.82	3.07
Tangible Book Value, 5 Yr. CAGR %	1.2	-1.97	-1.12	7.08	7.63
Common Equity, 5 Yr. CAGR %	3.83	6.49	7.03	5.94	6.63
Cash From Operations, 5 Yr. CAGR %	15.7	24.36	12.78	18.56	0.36
Capital Expenditures, 5 Yr. CAGR %	-1.68	6.56	19.08	11.4	3.12
Levered Free Cash Flow, 5 Yr. CAGR %	21.64	16.11	3.52	20.67	4.64
Unlevered Free Cash Flow, 5 Yr. CAGR %	34.85	17.18	6.74	22.02	4.03
Dividend Per Share, 5 Yr. CAGR %	5.39	7.91	9.46	10.66	10.76