Cash flow Singapore Exchange Limited

Equities

S68

SG1J26887955

Financial & Commodity Market Operators

Delayed Singapore S.E. Other stock markets 03:28:17 2025-06-24 am EDT			5-day change	1st Jan Change
13.90 ^SGD	+0.29%		-2.04%	+9.11%

Jun. 10	Singapore Exchange, B3 Launch Brazilian Real Futures	MT
Jun. 09	Singapore Exchange Posts May Derivatives Daily Average Volume Of 1.3 Million Contracts	RE

4d78c1bce54a659bd67f5c77e351a._ANOu1LJwSkLwh63Bw4_U59vko3_dIh2jyGVzyAEKSo.hXcEyT2ni2h-uHrBQGF1A_M2697KOvFO62bgqA1HGk-GVzbIFZ_2fUixfQ

Published financial data: SINGAPORE EXCHANGE LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2020	2021	2022	2023	2024
Revenues	1.05B	1.06B	1.1B	1.19B	1.23B
Other Revenues, Total	-	-	-	-	-
Total Revenues	1.05B	1.06B	1.1B	1.19B	1.23B
Cost of Goods Sold, Total	123M	137M	151M	161M	161M
Gross Profit	930M	919M	948M	1.03B	1.07B
Selling General & Admin Expenses, Total	246M	277M	284M	313M	329M
Depreciation & Amortization - (IS)	89.86M	94.52M	96.66M	98.32M	95.85M
Other Operating Expenses	27.22M	22.93M	28.14M	31.39M	39.25M
Other Operating Expenses, Total	363M	395M	409M	443M	464M
Operating Income	567M	524M	539M	590M	607M
Interest Expense, Total	-2.89M	-4.78M	-7.38M	-7.25M	-10.32M
Interest And Investment Income	13.68M	5.96M	4.21M	28.1M	37.18M
Net Interest Expenses	10.79M	1.18M	-3.18M	20.84M	26.87M
Income (Loss) On Equity Invest.	-2.3M	-4.29M	-10.53M	-15.56M	-14.47M
Currency Exchange Gains (Loss)	488K	-830K	8.6M	-1.39M	409K
Other Non Operating Income (Expenses)	2.38M	4.66M	2.02M	35.67M	93.07M
EBT, Excl. Unusual Items	579M	525M	536M	630M	713M
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-6.2M	14.61M	5.29M	41.46M	17.19M
Gain (Loss) On Sale Of Assets	-378K	-	-	-708K	-828K
Asset Writedown	-1.04M	-25K	-1.83M	-11.63M	-20.44M
Other Unusual Items	-	-2.7M	4.94M	14.88M	-
EBT, Incl. Unusual Items	571M	536M	545M	674M	709M
Income Tax Expense	98.96M	90.7M	92.69M	103M	111M
Earnings From Continuing Operations	472M	446M	452M	571M	598M
Net Income to Company	472M	446M	452M	571M	598M
Minority Interest	-170K	-371K	-503K	330K	329K
Net Income - (IS)	472M	445M	451M	571M	598M
Net Income to Common Incl Extra Items	472M	445M	451M	571M	598M
Net Income to Common Excl. Extra Items	472M	445M	451M	571M	598M
Per Share Items
Net EPS - Basic	0.44	0.42	0.42	0.53	0.56
Basic EPS - Continuing Operations	0.44	0.42	0.42	0.53	0.56
Basic Weighted Average Shares Outstanding	1.07B	1.07B	1.07B	1.07B	1.07B
Net EPS - Diluted	0.44	0.41	0.41	0.52	0.55
Diluted EPS - Continuing Operations	0.44	0.41	0.41	0.52	0.55
Diluted Weighted Average Shares Outstanding	1.08B	1.09B	1.1B	1.11B	1.1B
Normalized Basic EPS	0.34	0.31	0.31	0.37	0.42
Normalized Diluted EPS	0.34	0.3	0.3	0.36	0.41
Dividend Per Share	0.3	0.32	0.32	0.32	0.34
Payout Ratio	68.08	76.89	75.82	60.28	61.03
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	593M	554M	570M	622M	635M
EBITA	573M	540M	556M	608M	620M
EBIT	567M	524M	539M	590M	607M
EBITDAR	602M	563M	580M	631M	645M
Total Revenues (As Reported)	1.05B	1.06B	1.1B	1.19B	1.23B
Effective Tax Rate - (Ratio)	17.33	16.91	17.02	15.32	15.72
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	106M	99.47M	98.52M	113M	119M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-7.25M	-8.77M	-5.83M	-9.29M	-7.81M
Normalized Net Income	361M	328M	335M	394M	446M
Interest on Long-Term Debt	2.59M	2.84M	6.97M	7.16M	10.32M
Supplemental Operating Expense Items
Marketing Expenses	7.28M	7.6M	7.66M	8.94M	9.32M
Selling and Marketing Expenses	7.28M	7.6M	7.66M	8.94M	9.32M
General and Administrative Expenses	13.39M	16.97M	15.79M	18.34M	17.32M
Research And Development Expense From Footnotes	133M	145M	153M	160M	165M
Net Rental Expense, Total	9.88M	9.66M	10M	9.8M	10.38M
Imputed Operating Lease Interest Expense	-	792K	889K	750K	1.18M
Imputed Operating Lease Depreciation	-	8.86M	9.11M	9.05M	9.2M
Stock-Based Comp., SG&A Exp. (Total)	14.59M	17.54M	14.65M	17.78M	20.63M
Stock-Based Comp., Other (Total)	345K	345K	326K	94K	348K
Total Stock-Based Compensation	14.93M	17.88M	14.98M	17.87M	20.98M

Fiscal Period: June	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	907M	1.06B	998M	1.03B	998M
Short Term Investments	48.93M	41.62M	95.17M	40.14M	137M
Total Cash And Short Term Investments	956M	1.1B	1.09B	1.07B	1.13B
Accounts Receivable, Total	727M	714M	1.03B	1.06B	1.06B
Other Receivables	6.22M	4.44M	5.66M	11.68M	10.37M
Total Receivables	734M	719M	1.03B	1.07B	1.07B
Prepaid Expenses	23.85M	29.3M	28.95M	36.42M	33.18M
Other Current Assets, Total	2.51M	320K	24K	1.01M	7.36M
Total Current Assets	1.72B	1.85B	2.15B	2.18B	2.25B
Gross Property Plant And Equipment	228M	216M	187M	189M	226M
Accumulated Depreciation	-89.65M	-96.71M	-102M	-114M	-87.38M
Net Property Plant And Equipment	138M	120M	85.17M	75.11M	138M
Long-term Investments	191M	197M	591M	565M	682M
Goodwill	329M	541M	708M	703M	700M
Other Intangibles, Total	277M	288M	284M	243M	204M
Loans Receivable Long-Term	-	-	9.04M	-	-
Other Long-Term Assets, Total	28.37M	26.49M	18.17M	15.34M	13.48M
Total Assets	2.68B	3.02B	3.85B	3.78B	3.98B
Liabilities
Accounts Payable, Total	643M	655M	999M	934M	867M
Accrued Expenses, Total	143M	156M	181M	182M	197M
Short-term Borrowings	304M	-	-	-	-
Current Portion of Long-Term Debt	-	-	41.86M	352M	-
Current Portion of Leases	19.48M	20.37M	22.14M	20.47M	20.1M
Current Income Taxes Payable	110M	99.63M	99.94M	113M	115M
Unearned Revenue Current, Total	3.94M	-	-	-	-
Other Current Liabilities	34.3M	75.12M	97.82M	36.94M	39.83M
Total Current Liabilities	1.26B	1.01B	1.44B	1.64B	1.24B
Long-Term Debt	-	468M	694M	340M	643M
Long-Term Leases	69.55M	51.06M	30.94M	14.83M	64.83M
Unearned Revenue Non Current	-	-	14.63M	14.7M	14.62M
Deferred Tax Liability Non Current	62.32M	66.46M	79.47M	55.05M	53.63M
Other Non Current Liabilities	40.55M	41.39M	37.58M	14.77M	9.15M
Total Liabilities	1.43B	1.63B	2.3B	2.08B	2.02B
Common Stock, Total	430M	430M	427M	423M	420M
Retained Earnings	742M	846M	955M	1.18B	1.41B
Treasury Stock	-21M	-25.19M	-34.64M	-32.45M	-27.66M
Comprehensive Income and Other	94.5M	134M	196M	130M	152M
Total Common Equity	1.24B	1.38B	1.54B	1.7B	1.96B
Minority Interest	4.44M	4.86M	5.06M	2.71M	1.33M
Total Equity	1.25B	1.39B	1.55B	1.7B	1.96B
Total Liabilities And Equity	2.68B	3.02B	3.85B	3.78B	3.98B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.07B	1.07B	1.07B	1.07B	1.07B
ECS Total Common Shares Outstanding	1.07B	1.07B	1.07B	1.07B	1.07B
Book Value / Share	1.16	1.3	1.45	1.59	1.83
Tangible Book Value	639M	555M	552M	755M	1.06B
Tangible Book Value Per Share	0.6	0.52	0.52	0.71	0.99
Total Debt	393M	539M	789M	727M	728M
Net Debt	-563M	-562M	-304M	-346M	-407M
Debt Equivalent Oper. Leases	79.03M	77.25M	79.98M	78.41M	83.04M
Minority Interest, Total (Incl. Fin. Div)	4.44M	4.86M	5.06M	2.71M	1.33M
Equity Method Investments, Total	71.97M	50.53M	58.09M	48.37M	50.6M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	5.63M	6.11M	-	-	-
Buildings, Total	5.61M	6.08M	-	-	-
Machinery, Total	79.04M	85.11M	83.12M	91.77M	98.61M
Full Time Employees	846	970	1.06K	1.12K	1.17K
Accumulated Allowance for Doubtful Accounts (Supple)	1.83M	1.93M	5.18M	6.18M	3.66M

Fiscal Period: June	2020	2021	2022	2023	2024
Net Income	472M	445M	451M	571M	598M
Depreciation & Amortization - CF	39.97M	34.46M	34.99M	35.95M	38.29M
Amortization of Goodwill and Intangible Assets - (CF)	5.55M	15.76M	16.9M	17.76M	13.25M
Depreciation & Amortization, Total	45.52M	50.23M	51.89M	53.71M	51.54M
Amortization of Deferred Charges, Total - (CF)	44.34M	44.3M	44.77M	44.62M	44.31M
(Gain) Loss From Sale Of Asset	378K	-	-	708K	828K
(Gain) Loss on Sale of Investments - (CF)	2.4M	-16.77M	-5.29M	-41.46M	-102M
Asset Writedown & Restructuring Costs	1.04M	25K	1.83M	11.52M	20.44M
Stock-Based Compensation (CF)	14.93M	17.88M	14.98M	17.87M	20.98M
Other Operating Activities, Total	18.34M	-15.19M	7.81M	-49.46M	-19.26M
Change In Accounts Receivable	141M	12.64M	-311M	-33.89M	-2.87M
Change In Accounts Payable	-118M	22.18M	346M	-118M	-49.9M
Change in Other Net Operating Assets	2.24M	-7.75M	-18.93M	-10.28M	53.49M
Cash from Operations	624M	553M	584M	447M	616M
Capital Expenditure	-34.63M	-45.28M	-44.15M	-54.3M	-64.57M
Sale of Property, Plant, and Equipment	-	-	31.06M	-	-
Cash Acquisitions	-272M	-161M	-167M	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-23.45M	-3.04M	-367M	38.46M	-109M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-9.04M	9.04M	-
Other Investing Activities, Total	15.9M	11.24M	6.1M	19.15M	35.44M
Cash from Investing	-314M	-198M	-550M	12.34M	-138M
Short Term Debt Issued, Total	585M	-	-	-	-
Long-Term Debt Issued, Total	-	882M	417M	-	299M
Total Debt Issued	585M	882M	417M	-	299M
Short Term Debt Repaid, Total	-296M	-	-	-	-
Long-Term Debt Repaid, Total	-20.86M	-731M	-153M	-65.67M	-375M
Total Debt Repaid	-317M	-731M	-153M	-65.67M	-375M
Repurchase of Common Stock	-17M	-15.93M	-27.72M	-18.61M	-14.64M
Common Dividends Paid	-321M	-342M	-342M	-344M	-365M
Common & Preferred Stock Dividends Paid	-321M	-342M	-342M	-344M	-365M
Other Financing Activities, Total	-113K	-2.13M	-2.34M	-4.45M	-4.17M
Cash from Financing	-69.74M	-210M	-109M	-433M	-460M
Foreign Exchange Rate Adjustments	538K	1.88M	-6.32M	-1M	205K
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	241M	147M	-81.21M	25.15M	18.42M
Supplemental Items
Cash Interest Paid	113K	2.13M	2.34M	4.45M	4.17M
Cash Income Tax Paid (Refund)	72.38M	109M	99.09M	98.91M	112M
Levered Free Cash Flow	481M	455M	481M	268M	377M
Unlevered Free Cash Flow	482M	458M	486M	272M	383M
Change In Net Working Capital	-57.73M	-63.12M	-80.99M	159M	48.49M
Net Debt Issued / Repaid	269M	151M	264M	-65.67M	-75.95M

Fiscal Period: June	2020	2021	2022	2023	2024
Profitability
Return on Assets	14.73	11.48	9.81	9.67	9.77
Return on Total Capital	25.94	18.34	15.8	15.47	14.82
Return On Equity %	40.34	33.78	30.75	35.08	32.61
Return on Common Equity	40.4	33.87	30.82	35.18	32.67
Margin Analysis
Gross Profit Margin %	88.35	86.99	86.3	86.5	86.96
SG&A Margin	23.34	26.26	25.88	26.23	26.69
EBITDA Margin %	56.29	52.42	51.85	52.04	51.53
EBITA Margin %	54.41	51.1	50.61	50.9	50.38
EBIT Margin %	53.88	49.61	49.07	49.42	49.3
Income From Continuing Operations Margin %	44.84	42.22	41.12	47.77	48.52
Net Income Margin %	44.82	42.18	41.07	47.8	48.54
Net Avail. For Common Margin %	44.82	42.18	41.07	47.8	48.54
Normalized Net Income Margin	34.33	31.01	30.45	32.98	36.21
Levered Free Cash Flow Margin	45.65	43.06	43.76	22.42	30.6
Unlevered Free Cash Flow Margin	45.83	43.34	44.18	22.8	31.12
Asset Turnover
Asset Turnover	0.44	0.37	0.32	0.31	0.32
Fixed Assets Turnover	10.59	8.2	10.74	14.9	11.54
Receivables Turnover (Average Receivables)	1.32	1.46	1.26	1.15	1.16
Short Term Liquidity
Current Ratio	1.36	1.84	1.49	1.33	1.81
Quick Ratio	1.34	1.81	1.47	1.31	1.78
Operating Cash Flow to Current Liabilities	0.5	0.55	0.4	0.27	0.5
Days Sales Outstanding (Average Receivables)	276.34	249.17	288.85	318.15	314.76
Average Days Payable Outstanding	2.1K	1.73K	2.01K	2.19K	2.05K
Long Term Solvency
Total Debt/Equity	31.47	38.8	50.91	42.69	37.12
Total Debt / Total Capital	23.93	27.95	33.74	29.92	27.07
LT Debt/Equity	5.57	37.33	46.78	20.83	36.1
Long-Term Debt / Total Capital	4.23	26.9	31	14.6	26.32
Total Liabilities / Total Assets	53.38	54.02	59.74	54.95	50.79
EBIT / Interest Expense	196.4	109.55	73.03	81.4	58.87
EBITDA / Interest Expense	212.16	120.06	80.06	88.81	63.86
(EBITDA - Capex) / Interest Expense	200.18	110.59	74.08	81.32	57.6
Total Debt / EBITDA	0.64	0.94	1.33	1.13	1.11
Net Debt / EBITDA	-0.92	-0.98	-0.51	-0.54	-0.62
Total Debt / (EBITDA - Capex)	0.68	1.02	1.44	1.23	1.23
Net Debt / (EBITDA - Capex)	-0.97	-1.06	-0.56	-0.59	-0.68
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	15.71	0.31	4.08	8.68	3.12
Gross Profit, 1 Yr. Growth %	18.75	-1.23	3.25	8.93	3.66
EBITDA, 1 Yr. Growth %	22.46	-5.87	2.95	9.07	2.11
EBITA, 1 Yr. Growth %	23.48	-5.03	3.07	9.32	2.05
EBIT, 1 Yr. Growth %	22.87	-6.9	2.94	9.45	2.87
Earnings From Cont. Operations, 1 Yr. Growth %	20.68	-5.55	1.37	26.26	4.73
Net Income, 1 Yr. Growth %	20.64	-5.6	1.35	26.47	4.73
Normalized Net Income, 1 Yr. Growth %	22.11	-8.67	2.6	17.74	6.49
Diluted EPS Before Extra, 1 Yr. Growth %	20.6	-6.38	-0.21	26.26	5.49
Accounts Receivable, 1 Yr. Growth %	-15.64	-1.8	43.52	3.11	0.41
Net Property, Plant and Equip., 1 Yr. Growth %	126.25	-13.3	-28.77	-11.81	84.31
Total Assets, 1 Yr. Growth %	25.66	12.8	27.32	-1.74	5.38
Tangible Book Value, 1 Yr. Growth %	-16.55	-13.1	-0.62	36.71	39.91
Common Equity, 1 Yr. Growth %	14.12	11.25	11.52	10.13	15.22
Cash From Operations, 1 Yr. Growth %	49.51	-11.41	5.53	-23.45	37.86
Capital Expenditures, 1 Yr. Growth %	-26.87	30.78	-2.5	23	18.9
Levered Free Cash Flow, 1 Yr. Growth %	77.49	-4.83	5.77	-44.33	43.58
Unlevered Free Cash Flow, 1 Yr. Growth %	78.16	-4.57	6.09	-43.92	43.56
Dividend Per Share, 1 Yr. Growth %	1.67	4.92	0	1.56	6.15
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	11.64	7.73	2.18	6.35	5.86
Gross Profit, 2 Yr. CAGR %	17.69	8.3	0.99	6.05	6.27
EBITDA, 2 Yr. CAGR %	15.13	6.95	-1.56	5.96	5.54
EBITA, 2 Yr. CAGR %	15.7	7.86	-1.07	6.15	5.62
EBIT, 2 Yr. CAGR %	15.44	6.53	-2.1	6.15	6.11
Earnings From Cont. Operations, 2 Yr. CAGR %	14	6.76	-2.15	13.13	14.99
Net Income, 2 Yr. CAGR %	13.98	6.72	-2.19	13.21	15.09
Normalized Net Income, 2 Yr. CAGR %	14.88	5.19	-3.4	9.91	15.45
Diluted EPS Before Extra, 2 Yr. CAGR %	13.97	6.26	-3.35	12.25	15.41
Accounts Receivable, 2 Yr. CAGR %	-4.67	-8.98	18.72	21.65	1.75
Net Property, Plant and Equip., 2 Yr. CAGR %	38.56	40.06	-21.41	-20.74	27.49
Total Assets, 2 Yr. CAGR %	12.56	19.06	19.84	11.85	1.76
Tangible Book Value, 2 Yr. CAGR %	-9.03	-14.84	-7.07	16.56	38.3
Common Equity, 2 Yr. CAGR %	6.56	12.68	11.38	10.82	12.65
Cash From Operations, 2 Yr. CAGR %	20.93	15.09	-3.31	-10.12	2.73
Capital Expenditures, 2 Yr. CAGR %	-33.61	-2.2	12.92	9.51	20.93
Levered Free Cash Flow, 2 Yr. CAGR %	35.63	29.58	0.33	-23.26	-11.48
Unlevered Free Cash Flow, 2 Yr. CAGR %	35.89	30.01	0.62	-22.87	-11.15
Dividend Per Share, 2 Yr. CAGR %	0.83	3.28	2.43	0.78	3.83
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	9.54	7.73	6.5	4.3	5.26
Gross Profit, 3 Yr. CAGR %	13.76	11.01	6.59	3.57	5.25
EBITDA, 3 Yr. CAGR %	12.14	7.38	5.6	1.86	4.67
EBITA, 3 Yr. CAGR %	12.38	8.04	6.24	2.28	4.76
EBIT, 3 Yr. CAGR %	12.18	7.17	5.32	1.61	5.04
Earnings From Cont. Operations, 3 Yr. CAGR %	11.59	7.07	4.93	6.53	10.26
Net Income, 3 Yr. CAGR %	11.57	7.04	4.9	6.56	10.31
Normalized Net Income, 3 Yr. CAGR %	11.9	6.14	4.17	3.18	11
Diluted EPS Before Extra, 3 Yr. CAGR %	11.58	6.73	4.05	5.66	9.95
Accounts Receivable, 3 Yr. CAGR %	-2.71	-3.72	5.94	13.27	14.11
Net Property, Plant and Equip., 3 Yr. CAGR %	19.69	18.51	11.8	-18.33	5.01
Total Assets, 3 Yr. CAGR %	9.49	12.64	21.75	12.17	9.65
Tangible Book Value, 3 Yr. CAGR %	-3.93	-10.41	-10.34	5.69	23.88
Common Equity, 3 Yr. CAGR %	6.43	8.1	12.29	10.97	12.27
Cash From Operations, 3 Yr. CAGR %	18.22	9.01	11.81	-10.55	3.65
Capital Expenditures, 3 Yr. CAGR %	-16.8	-16.78	-2.3	16.18	12.55
Levered Free Cash Flow, 3 Yr. CAGR %	24.45	20.29	21.1	-17.55	-6.07
Unlevered Free Cash Flow, 3 Yr. CAGR %	24.6	20.55	21.49	-17.2	-5.74
Dividend Per Share, 3 Yr. CAGR %	2.89	2.17	2.17	2.14	2.54
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	6.22	5.24	6.54	7.17	6.25
Gross Profit, 5 Yr. CAGR %	8.6	7.77	8.47	9	6.46
EBITDA, 5 Yr. CAGR %	7.22	5.3	6.28	6.81	5.58
EBITA, 5 Yr. CAGR %	7.31	5.64	6.63	7.28	5.99
EBIT, 5 Yr. CAGR %	7.13	5.06	6.07	6.76	5.64
Earnings From Cont. Operations, 5 Yr. CAGR %	6.25	5.02	5.87	9.45	8.85
Net Income, 5 Yr. CAGR %	6.24	5	5.85	9.47	8.86
Normalized Net Income, 5 Yr. CAGR %	7.04	4.42	5.34	7.54	8.55
Diluted EPS Before Extra, 5 Yr. CAGR %	6.2	4.81	5.35	8.91	8.46
Accounts Receivable, 5 Yr. CAGR %	2.73	-4.77	5.36	5.72	4.24
Net Property, Plant and Equip., 5 Yr. CAGR %	17.65	14.02	1.15	0.9	17.83
Total Assets, 5 Yr. CAGR %	8.26	7.5	13.52	12.32	13.32
Tangible Book Value, 5 Yr. CAGR %	-4.39	-7.02	-5.2	-0.46	6.63
Common Equity, 5 Yr. CAGR %	4.98	6.95	8.39	9.18	12.43
Cash From Operations, 5 Yr. CAGR %	7.79	5.48	9.09	0.91	8.08
Capital Expenditures, 5 Yr. CAGR %	-15.93	-9.32	-5.99	-7.12	6.4
Levered Free Cash Flow, 5 Yr. CAGR %	8.16	11.51	14.04	0.49	6.83
Unlevered Free Cash Flow, 5 Yr. CAGR %	8.24	11.66	14.26	0.83	7.2
Dividend Per Share, 5 Yr. CAGR %	1.73	2.71	2.71	1.61	2.83