Statement Of Income
Statement Of Income (USD $) | ||
In Thousands, except Per Share data | 3 Months Ended
Sep. 30, 2009 | 3 Months Ended
Sep. 30, 2008 |
Net sales | $2,237,165 | $3,064,688 |
Cost of sales | 1,800,945 | 2,337,222 |
Gross profit | 436,220 | 727,466 |
Selling, general and administrative expenses | 301,843 | 332,683 |
Interest expense | 25,723 | 28,096 |
Other (income) expense, net | (5,375) | 8,299 |
Income before income taxes | 114,029 | 358,388 |
Income taxes | 40,059 | 106,553 |
Net income | 73,970 | 251,835 |
Less: Noncontrolling interest in subsidiaries' earnings | 477 | 1,659 |
Net income attributable to common shareholders | $73,493 | $250,176 |
Earnings per share attributable to common shareholders: | ||
Basic | 0.46 | 1.52 |
Diluted | 0.45 | 1.5 |
Cash dividends per common share | 0.25 | 0.25 |
Statement Of Financial Position
Statement Of Financial Position Classified (USD $) | ||
In Thousands | Sep. 30, 2009
| Jun. 30, 2009
|
Current assets: | ||
Cash and cash equivalents | $189,849 | $187,611 |
Accounts receivable, net | 1,452,494 | 1,417,305 |
Inventories: | ||
Finished products | 528,316 | 514,495 |
Work in process | 580,468 | 581,266 |
Raw materials | 157,535 | 158,789 |
Inventory, Net, Total | 1,266,319 | 1,254,550 |
Prepaid expenses | 100,189 | 142,335 |
Deferred income taxes | 124,640 | 121,980 |
Total current assets | 3,133,491 | 3,123,781 |
Plant and equipment | 4,810,205 | 4,705,060 |
Less accumulated depreciation | 2,918,767 | 2,824,506 |
Property, Plant and Equipment, Net, Total | 1,891,438 | 1,880,554 |
Goodwill | 2,964,321 | 2,903,077 |
Intangible assets, net | 1,276,049 | 1,273,862 |
Other assets | 671,874 | 674,628 |
Total assets | 9,937,173 | 9,855,902 |
Current liabilities: | ||
Notes payable | 304,083 | 481,467 |
Accounts payable, trade | 659,764 | 649,718 |
Accrued payrolls and other compensation | 279,910 | 356,776 |
Accrued domestic and foreign taxes | 152,262 | 113,107 |
Other accrued liabilities | 439,318 | 404,686 |
Total current liabilities | 1,835,337 | 2,005,754 |
Long-term debt | 1,855,531 | 1,839,705 |
Pensions and other postretirement benefits | 1,255,515 | 1,233,271 |
Deferred income taxes | 187,907 | 183,457 |
Other liabilities | 233,270 | 243,275 |
Total liabilities | 5,367,560 | 5,505,462 |
Shareholders' equity: | ||
Serial preferred stock, $.50 par value; authorized 3,000,000 shares; none issued | 0 | 0 |
Common stock, $.50 par value; authorized 600,000,000 shares; issued 181,046,128 shares at September 30 and June 30 | 90,523 | 90,523 |
Additional capital | 614,247 | 588,201 |
Retained earnings | 5,747,734 | 5,722,038 |
Accumulated other comprehensive (loss) | (696,200) | (843,019) |
Treasury shares, at cost; 20,354,682 shares at September 30 and 20,557,537 at June 30 | (1,274,320) | (1,289,544) |
Total shareholders' equity | 4,481,984 | 4,268,199 |
Noncontrolling interests | 87,629 | 82,241 |
Total equity | 4,569,613 | 4,350,440 |
Total liabilities and equity | $9,937,173 | $9,855,902 |
1_Statement Of Financial Positi
Statement Of Financial Position Classified (Parenthetical) (USD $) | ||
Sep. 30, 2009
| Jun. 30, 2009
| |
Serial preferred stock, par value | 0.5 | 0.5 |
Serial preferred stock, authorized | 3,000,000 | 3,000,000 |
Serial preferred stock, issued | 0 | 0 |
Common stock, par value | 0.5 | 0.5 |
Common stock, authorized | 600,000,000 | 600,000,000 |
Common stock, issued | 181,046,128 | 181,046,128 |
Treasury shares, shares | 20,354,682 | 20,557,537 |
Statement Of Cash Flows Indirec
Statement Of Cash Flows Indirect (USD $) | ||
In Thousands | 3 Months Ended
Sep. 30, 2009 | 3 Months Ended
Sep. 30, 2008 |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $73,970 | $251,835 |
Adjustments to reconcile net income to net cash provided by operations: | ||
Depreciation | 64,165 | 64,057 |
Amortization | 28,798 | 22,109 |
Stock compensation | 26,436 | 20,655 |
Deferred income taxes | (16,011) | 7,622 |
Foreign currency transaction (gain) loss | (4,096) | 1,159 |
(Gain) loss on sale of plant and equipment | (2,194) | 765 |
Changes in assets and liabilities, net of effects from acquisitions: | ||
Accounts receivable | (2,682) | 118,791 |
Inventories | 17,863 | (89,651) |
Prepaid expenses | 42,962 | 5,783 |
Other assets | 25,690 | 8,305 |
Accounts payable, trade | 110 | (83,240) |
Accrued payrolls and other compensation | (82,069) | (75,045) |
Accrued domestic and foreign taxes | 29,760 | 59,149 |
Other accrued liabilities | 35,792 | 3,849 |
Pensions and other postretirement benefits | 25,177 | 15,588 |
Other liabilities | (3,618) | (24,384) |
Net cash provided by operating activities | 260,053 | 307,347 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Acquisitions (less acquired cash of $119 in 2008) | 0 | (12,088) |
Capital expenditures | (30,099) | (98,273) |
Proceeds from sale of plant and equipment | 4,422 | 7,437 |
Other | (1,334) | (8,004) |
Net cash (used in) investing activities | (27,011) | (110,928) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from exercise of stock options | 2,868 | 532 |
(Payments for) common shares | (5,000) | (413,959) |
Tax benefit from share-based compensation | 886 | 2,837 |
(Payments of) proceeds from notes payable, net | (190,983) | 564,580 |
Proceeds from long-term borrowings | 679 | 3,265 |
(Payments of) long-term borrowings | (6,975) | (6,287) |
Dividends | (40,171) | (41,109) |
Net cash (used in) provided by financing activities | (238,696) | 109,859 |
Effect of exchange rate changes on cash | 7,892 | (23,999) |
Net increase in cash and cash equivalents | 2,238 | 282,279 |
Cash and cash equivalents at beginning of year | 187,611 | 326,048 |
Cash and cash equivalents at end of period | $189,849 | $608,327 |
2_Statement Of Cash Flows Indir
Statement Of Cash Flows Indirect (Parenthetical) (USD $) | ||
In Thousands | 3 Months Ended
Sep. 30, 2009 | 3 Months Ended
Sep. 30, 2008 |
Acquisitions, acquired cash | $0 | $119 |
BUSINESS SEGMENT INFORMATION BY
BUSINESS SEGMENT INFORMATION BY INDUSTRY | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
BUSINESS SEGMENT INFORMATION BY INDUSTRY | BUSINESS SEGMENT INFORMATION BY INDUSTRY (Dollars in thousands) (Unaudited) The Company operates in three reportable business segments: Industrial, Aerospace and Climate Industrial Controls. The Industrial Segment is the largest and includes a significant portion of international operations. Industrial - This segment produces a broad range of motion-control and fluid systems and components used in all kinds of manufacturing, packaging, processing, transportation, mobile construction, agricultural and military machinery and equipment. Sales are made directly to major original equipment manufacturers (OEMs) and through a broad distribution network to smaller OEMs and the aftermarket. Aerospace - This segment designs and manufactures products and provides aftermarket support for commercial, business jet, military and general aviation aircraft, missile and spacecraft markets. The Aerospace Segment provides a full range of systems and components for hydraulic, pneumatic and fuel applications. Climate Industrial Controls - This segment manufactures motion-control systems and components for use primarily in the refrigeration and air conditioning and transportation industries. Three Months Ended September30, 2009 2008 Net sales Industrial: North America $ 783,085 $ 1,107,077 International 850,250 1,223,192 Aerospace 416,856 478,473 Climate Industrial Controls 186,974 255,946 Total $ 2,237,165 $ 3,064,688 Segment operating income Industrial: North America $ 76,171 $ 160,486 International 61,823 202,952 Aerospace 53,146 68,148 Climate Industrial Controls 10,497 15,499 Total segment operating income 201,637 447,085 Corporate general and administrative expenses 26,302 40,374 Income from operations before interest expense and other 175,335 406,711 Interest expense 25,723 28,096 Other expense 35,583 20,227 Income before income taxes $ 114,029 $ 358,388 |
1.Management representation
1.Management representation | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
1.Management representation | 1. Management representation In the opinion of the management of the Company, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position as of September30, 2009, the results of operations for the three months ended September30, 2009 and 2008 and cash flows for the three months then ended. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Companys 2009 Annual Report on Form 10-K. Interim period results are not necessarily indicative of the results to be expected for the full fiscal year. Certain prior period amounts have been reclassified to conform to the current year presentation. These include the adoption of new accounting rules regarding noncontrolling interests. The Company has evaluated for disclosure subsequent events that have occurred up to November3, 2009, the date of the filing of the Companys Form 10-Q for the quarter ended September30, 2009. |
2.New accounting pronouncements
2.New accounting pronouncements | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
2.New accounting pronouncements | 2. New accounting pronouncements Effective July1, 2009, the Company adopted the Financial Accounting Standards Boards (FASB) new guidance regarding business combinations. This guidance changed the accounting for business combinations both during the period of acquisition and in subsequent periods. Acquisition costs will generally be expensed as incurred; noncontrolling interests will be valued at fair value at the acquisition date; in-process research and development will be recorded at fair value as an indefinite-lived asset at the acquisition date; restructuring costs associated with a business combination will generally be expensed subsequent to the acquisition date; and changes in deferred tax asset valuation allowances and income tax uncertainties after the acquisition date generally will affect income tax expense. The adoption of this guidance did not have a material effect on the Companys financial position or results of operations during the quarter ended September30, 2009. In December 2008, the FASB issued new guidance requiring detailed disclosures regarding the investment strategies, fair value measurements, and concentrations of risk of plan assets of a defined benefit pension or other postretirement plan. This guidance is effective for fiscal years ending after December31, 2009, and the Company has not yet determined the impact it will have on the Companys retirement benefits disclosures. |
3.Product warranty
3.Product warranty | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
3.Product warranty | 3. Product warranty In the ordinary course of business, the Company warrants its products against defect in design, materials and workmanship over various time periods. The warranty accrual as of September30, 2009 and June30, 2009 is immaterial to the financial position of the Company and the change in the accrual for both the current-year quarter and prior-year quarter was immaterial to the Companys results of operations and cash flows. |
4.Earnings per share
4.Earnings per share | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
4.Earnings per share | 4. Earnings per share The following table presents a reconciliation of the numerator and denominator of basic and diluted earnings per share for the three months ended September30, 2009 and 2008. Three Months Ended September30, 2009 2008 Numerator: Net income attributable to common shareholders $ 73,493 $ 250,176 Denominator: Basic - weighted average common shares 160,629,291 164,415,418 Increase in weighted average from dilutive effect of equity-based awards 1,411,494 2,497,798 Diluted - weighted average common shares, assuming exercise of equity-based awards 162,040,785 166,913,216 Basic earnings per share $ .46 $ 1.52 Diluted earnings per share $ .45 $ 1.50 At September30, 2009 and 2008, 10,031,236 and 3,645,525 common shares, respectively, subject to equity-based awards were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive. |
5.Share repurchase program
5.Share repurchase program | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
5.Share repurchase program | 5. Share repurchase program The Company has a program to repurchase its common shares. Under the program, the Company is authorized to repurchase an amount of common shares each fiscal year equal to the greater of 7.5million shares or five percent of the shares outstanding as of the end of the prior fiscal year. Repurchases are funded primarily from operating cash flows and commercial paper borrowings, and the shares are initially held as treasury stock. The Company repurchased 105,930 shares of its common stock at an average price of $47.20 during the three-month period ended September30, 2009 under this program. |
6.Business realignment charges
6.Business realignment charges | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
6.Business realignment charges | 6. Business realignment charges During the first quarter of fiscal 2010, the Company recorded a $19.3 million charge for the costs to structure its businesses in light of current and anticipated customer demand. The charge primarily consists of severance costs related to plant closures as well as general work force reductions implemented by various operating units throughout the world. The Company believes the realignment actions will positively impact future results of operations but will have no material effect on liquidity and sources and uses of capital. The Industrial Segment recognized $17.0 million of the total charge primarily for severance costs related to approximately 820 employees and the Climate Industrial Controls Segment recognized $2.3 million of the total charge primarily for severance costs related to approximately 235 employees. The charge is presented primarily in the Cost of sales caption in the Consolidated Statement of Income for the three months ended September30, 2009. As of September30, 2009, approximately $5.9 million in severance payments have been made with the remaining payments expected to be made by June30, 2010. Additional charges to be recognized in future periods related to these specific actions are not expected to be significant. Business realignment charges were not material for the first quarter of fiscal 2009. |
7.Equity
7.Equity | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
7.Equity | 7. Equity Effective July1, 2009, the Company adopted the FASBs new guidance regarding the accounting for noncontrolling interests. The new rules require the recognition of a noncontrolling interest as equity in the consolidated financial statements and separate from the parents equity. The amount of net income attributable to the noncontrolling interest is included in Net income on the face of the Consolidated Statement of Income. Changes in equity for the three months ended September30, 2008 and September30, 2009 are as follows: Shareholders Equity Noncontrolling Interests Total Equity Balance July1, 2008 $ 5,251,553 $ 78,589 $ 5,330,142 Net income 250,176 1,659 251,835 Other comprehensive income: Foreign currency translation (360,495 ) (168 ) (360,663 ) Retirement benefits plan activity 8,000 8,000 Net unrealized (loss) (1,400 ) (1,400 ) Total comprehensive income (353,895 ) (168 ) (354,063 ) Dividends paid (41,109 ) (41,109 ) Stock incentive plan activity 30,994 30,994 Shares purchased at cost (413,959 ) (413,959 ) Purchase of subsidiary shares (825 ) (825 ) Retirement benefits plan activity 12,858 12,858 Balance September30, 2008 $ 4,736,618 $ 79,255 $ 4,815,873 Balance July1, 2009 $ 4,268,199 $ 82,241 $ 4,350,440 Net income 73,493 477 73,970 Other comprehensive income: Foreign currency translation 137,968 4,911 142,879 Retirement benefits plan activity 8,887 8,887 Net unrealized (loss) (36 ) (36 ) Total comprehensive income 146,819 4,911 151,730 Dividends paid (40,171 ) (40,171 ) Stock incentive plan activity 29,575 29,575 Shares purchased at cost (5,000 ) (5,000 ) Retirement benefits plan activity 9,069 9,069 Balance September30, 2009 $ 4,481,984 $ 87,629 $ 4,569,613 With regards to other comprehensive income for shareholders equity, foreign currency translation is net of taxes of $9,995 and $20,938 for the three months ended September30, 2009 and September30, 2008, respectively. Retirement benefits plan activity is net of taxes of $5,022 and $4,775 for the three months ended September30, 2009 and September30, 2008, respectively. Net unrealized (loss) relates to marketable equity securities and cash flow hedging and is net of tax of $20 and $865 for the three months ended September30, 2009 and September30, 2008, respectively. |
8.Goodwill and intangible asset
8.Goodwill and intangible assets | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
8.Goodwill and intangible assets | 8. Goodwill and intangible assets The changes in the carrying amount of goodwill for the three months ended September30, 2009 are as follows: Industrial Segment Aerospace Segment Climate Industrial Controls Segment Total Balance June30, 2009 $ 2,496,449 $ 98,709 $ 307,919 $ 2,903,077 Acquisitions Foreign currency translation 55,854 16 1,975 57,845 Goodwill adjustments 3,399 3,399 Balance September30, 2009 $ 2,555,702 $ 98,725 $ 309,894 $ 2,964,321 Goodwill adjustments primarily represented final adjustments to the purchase price allocation during the twelve-month period subsequent to the acquisition date and primarily involved the valuation of income tax liabilities. Goodwill is tested for impairment on an annual basis, as of December31, and between annual tests whenever events or circumstances indicate that the carrying value of a reporting unit may not exceed its fair value. No such events or circumstances occurred during the three months ended September30, 2009. Intangible assets are amortized on the straight-line method over their legal or estimated useful lives. The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets: September30, 2009 June30, 2009 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Patents $ 122,207 $ 45,167 $ 119,811 $ 42,188 Trademarks 292,738 70,220 287,691 62,926 Customer lists and other 1,180,889 204,398 1,154,713 183,239 Total $ 1,595,834 $ 319,785 $ 1,562,215 $ 288,353 Total intangible amortization expense for the three months ended September30, 2009 was $28,055. The estimated amortization expense for the five years ending June30, 2010 through 2014 is $112,096, $107,318, $94,627, $86,247 and $84,655, respectively. Intangible assets are evaluated for impairment whenever events or circumstances indicate that the undiscounted net cash flows to be generated by their use over their expected useful lives and eventual disposition may be less than their carrying value. No such events or circumstances occurred during the three months ended September30, 2009. |
9.Retirement benefits
9.Retirement benefits | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
9.Retirement benefits | 9. Retirement benefits Net periodic pension cost recognized included the following components: Three Months Ended September30, 2009 2008 Service cost $ 19,067 $ 17,649 Interest cost 43,207 41,796 Expected return on plan assets (43,332 ) (46,551 ) Amortization of prior service cost 3,155 3,339 Amortization of net actuarial loss 15,507 9,637 Amortization of initial net obligation (asset) 6 (16 ) Net periodic benefit cost $ 37,610 $ 25,854 Postretirement benefit cost recognized included the following components: ThreeMonthsEnded September30, 2009 2008 Service cost $ 151 $ 380 Interest cost 926 1,425 Net amortization and deferral and other (114 ) (185 ) Net periodic benefit cost $ 963 $ 1,620 |
10.Income taxes
10.Income taxes | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
10.Income taxes | 10. Income taxes As of September30, 2009, the Company had gross unrecognized tax benefits of $150,129. The total amount of unrecognized benefits that, if recognized, would affect the effective tax rate was $127,263. The accrued interest related to the gross unrecognized tax benefits, excluded from the amounts above, was $12,801. The Company and its subsidiaries file income tax returns in the United States and various state and foreign jurisdictions. In the normal course of business, the Companys tax returns are subject to examination by taxing authorities throughout the world. The Company is no longer subject to examinations of its federal income tax returns by the Internal Revenue Service (IRS) for fiscal years through 2005. All significant state and local and foreign tax returns have been examined for fiscal years through 2001. The Company believes that it is reasonably possible that within the next 12 months the IRS examination for fiscal years 2006 and 2007 will be settled. The Company anticipates that within the next 12 months the total amount of unrecognized tax benefits related to income inclusion items, loss deductions and loss carryforwards may be reduced by an amount up to $64 million due to the settlement of examinations and the expiration of statutes of limitation. |
11.Fair value measurement
11.Fair value measurement | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
11.Fair value measurement | 11. Fair value measurement On July1, 2009, the Company adopted the FASBs new guidance relating to fair value measurements of nonfinancial assets and nonfinancial liabilities. The adoption of this provision did not have a material effect on the Companys financial position or results of operations. The Companys financial instruments consist primarily of investments in cash, cash equivalents and long-term investments as well as obligations under notes payable and long-term debt. Due to their short-term nature, the carrying values of Cash and cash equivalents, Investments and Notes payable approximate fair value. The carrying value of Long-term debt (excluding leases) was $1,912,541 and $1,889,844 at September30, 2009 and June30, 2009, respectively, and was estimated to have a fair value of $1,997,106 and $1,899,246 at September30, 2009 and June30, 2009, respectively. The fair value of Long-term debt was estimated using discounted cash flow analyses based on the Companys current incremental borrowing rate for similar types of borrowing arrangements. The fair value of financial assets and liabilities that were measured at fair value on a recurring basis at September30, 2009 follows: Total QuotedPrices In Active Markets (Level 1) SignificantOther Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Available for sale securities $ 3,340 $ 3,340 $ $ Derivatives 107 107 Liabilities: Deferred compensation plans 107,858 107,858 Derivatives 3,088 3,088 The fair value of derivatives is calculated with a model that utilizes market observable inputs including both spot and forward prices for the same underlying currencies. Available for sale securities are measured at fair value using quoted market prices. The Company has established nonqualified deferred compensation programs which permit officers, directors and certain management employees to defer a portion of their compensation, on a pre-tax basis, until their termination of employment. Changes in the value of the compensation deferred under these programs are recognized based on the fair value of the participants investment elections. |
12.Contingencies
12.Contingencies | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
12.Contingencies | 12. Contingencies The Company is involved in various legal proceedings arising in the normal course of business, including proceedings based on product liability claims, workers compensation claims and alleged violations of various environmental laws. The Company is self-insured in the United States for health care, workers compensation, general liability and product liability up to predetermined amounts, above which third party insurance applies. Management regularly reviews the probable outcome of these proceedings, the expenses expected to be incurred, the availability and limits of the insurance coverage, and the established accruals for liabilities. While the outcome of pending proceedings cannot be predicted with certainty, management believes that any liabilities that may result from these proceedings will not have a material adverse effect on the Companys liquidity, financial condition or results of operations. Parker ITR S.r.l. (Parker ITR), a subsidiary acquired on January31, 2002, has been the subject of a number of lawsuits and regulatory investigations, which are more fully described in Part II, Item1 of this Quarterly Report on Form 10-Q. Each of these lawsuits and regulatory investigations was also described in the Companys Annual Report on Form 10-K for the fiscal year ended June30, 2009. The status of these lawsuits and regulatory investigations has not significantly changed since June30, 2009. No additional accruals were recorded during the first quarter of fiscal 2010 relating to these lawsuits and regulatory investigations. The Company has made all required payments as of September 30, 2009 and has a remaining reserve of $2.9 million for future losses relating to these matters. Legal expenses related to these matters are being expensed as incurred and were insignificant in the first quarter of fiscal 2010. |
Document Information
Document Information | |
3 Months Ended
Sep. 30, 2009 USD / shares | |
Document Information [Text Block] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | 2009-09-30 |
Entity Information
Entity Information (USD $) | |
3 Months Ended
Sep. 30, 2009 | |
Entity [Text Block] | |
Trading Symbol | PH |
Entity Registrant Name | PARKER HANNIFIN CORP |
Entity Central Index Key | 0000076334 |
Current Fiscal Year End Date | --06-30 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 160,691,446 |