J & J Snack Foods Corp. (NASDAQ:JJSF) Q2 2022 Earnings Conference Call May 3, 2022 10:00 AM ET Company Participants Norberto Aja - IR Daniel Fachner - CEO Ken Plunk - CFO Conference Call Participants Ryan Bell - Consumer Edge Research Rob Dickerson - Jefferies Todd Brooks - CL King & Associates Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding t ...

Part I [Item 1. Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) This section presents the unaudited consolidated financial statements for J&J Snack Foods Corp. for the quarter ended December 25, 2021, including balance sheets, statements of earnings, comprehensive income, changes in stockholders' equity, and cash flows [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) The company's total assets slightly decreased to $1.11 billion as of December 25, 2021, primarily due to reduced cash and equivalents, while inventories increased Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 25, 2021 (unaudited) | Sep 25, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $576,046 | $584,769 | | Cash and cash equivalents | $268,460 | $283,192 | | Inventories | $132,724 | $123,160 | | **Total Assets** | **$1,111,906** | **$1,122,219** | | **Total Current Liabilities** | $158,098 | $167,629 | | **Total Liabilities** | $265,883 | $276,565 | | **Total Stockholders' Equity** | $845,998 | $845,654 | [Consolidated Statements of Earnings](index=6&type=section&id=Consolidated%20Statements%20of%20Earnings) For the three months ended December 25, 2021, net sales grew 32.2% to $318.5 million, and net earnings increased dramatically to $11.1 million Q1 FY2022 vs Q1 FY2021 Earnings (in thousands, except per share data) | Metric | Q1 FY2022 (ended Dec 25, 2021) | Q1 FY2021 (ended Dec 26, 2020) | Change | | :--- | :--- | :--- | :--- | | Net Sales | $318,490 | $240,997 | +32.2% | | Gross Profit | $79,375 | $50,125 | +58.4% | | Operating Income | $14,845 | $578 | +2,468% | | Net Earnings | $11,091 | $1,778 | +523.8% | | Diluted EPS | $0.58 | $0.09 | +544.4% | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities decreased to $5.5 million, resulting in a net decrease in cash and cash equivalents of $14.7 million for the quarter Cash Flow Summary (in thousands) | Cash Flow Activity | Three months ended Dec 25, 2021 | Three months ended Dec 26, 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $5,454 | $21,304 | | Net cash (used in) provided by investing activities | ($8,669) | $17,367 | | Net cash used in financing activities | ($11,448) | ($6,572) | | **Net (decrease) increase in cash** | **($14,732)** | **$32,526** | | **Cash at end of period** | **$268,460** | **$228,335** | [Notes to the Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section details the company's accounting policies and financial data, covering revenue recognition, segment reporting, goodwill, and tax rates - The company's three reportable segments are Food Service, Retail Supermarkets, and Frozen Beverages Segment Sales and Operating Income (in thousands) | Segment | Sales (Q1 2022) | Sales (Q1 2021) | % Change | Operating Income (Q1 2022) | Operating Income (Q1 2021) | | :--- | :--- | :--- | :--- | :--- | :--- | | Food Service | $211,732 | $160,425 | +32.0% | $9,001 | $6,180 | | Retail Supermarket | $42,695 | $39,094 | +9.2% | $4,984 | $4,723 | | Frozen Beverages | $64,063 | $41,478 | +54.4% | $860 | ($10,325) | - Goodwill remained unchanged at **$121.8 million** as of December 25, 2021, allocated across Food Service (**$61.2 million**), Frozen Beverages (**$56.5 million**), and Retail Supermarket (**$4.1 million**) segments[60](index=60&type=chunk) - The company's effective tax rate for the quarter was **27%**, compared to **8%** in the prior year's quarter, which had benefited from a significant tax benefit related to share-based compensation[48](index=48&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the first quarter fiscal 2022 financial results, highlighting a 32% increase in net sales and a 2,468% increase in operating income, driven by segment recovery Overall Performance Summary (Q1 FY2022) | Metric | Amount (in thousands) | YoY Change | | :--- | :--- | :--- | | Net Sales | $318,490 | +32% | | Operating Income | $14,845 | +2,468% | - The company declared a quarterly cash dividend of **$0.633 per share** and has **318,858 shares** remaining to be purchased under its current stock repurchase authorization[76](index=76&type=chunk) - The company maintains a **$50 million** revolving credit facility, which was undrawn as of December 25, 2021[78](index=78&type=chunk) [Results of Operations](index=28&type=section&id=Results%20of%20Operations) The company's strong quarterly performance was broad-based, with Food Service sales growing 32%, Retail Supermarket sales rising 9%, and Frozen Beverages sales surging 54% - **Food Service:** Sales increased **32%** to **$211.7 million**, driven by the reopening of venues like theaters, sports arenas, and amusement parks[81](index=81&type=chunk) - **Retail Supermarkets:** Sales grew **9%** to **$42.7 million**, led by a **17%** increase in soft pretzel sales and a **16%** increase in frozen novelties[85](index=85&type=chunk) - **Frozen Beverages:** Sales surged **54%** to **$64.1 million**, with beverage-related sales up **113%** and the segment reporting operating income of **$0.9 million**[87](index=87&type=chunk)[88](index=88&type=chunk) - Consolidated gross profit margin improved to **24.9%** from **20.8%** in the prior year, attributed to higher sales volume, favorable product mix, and corresponding margin efficiencies[89](index=89&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material change in its assessment of sensitivity to market risk since its 2021 Annual Report on Form 10-K - There has been no material change in the Company's assessment of its sensitivity to market risk since its 2021 annual report on Form 10-K[94](index=94&type=chunk) [Item 4. Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) The CEO and CFO concluded that disclosure controls and procedures were effective, with no material changes in internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period[95](index=95&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, these controls[96](index=96&type=chunk) Part II. Other Information [Item 6. Exhibits](index=31&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the credit agreement, Sarbanes-Oxley certifications, and XBRL financial data - The exhibits filed with this report include the Second Amended and Restated Credit Agreement, CEO/CFO certifications (Sections 302 and 906 of Sarbanes-Oxley Act), and financial statements formatted in inline XBRL[98](index=98&type=chunk)

J & J Snack Foods Corp. (NASDAQ:JJSF) Q1 2022 Earnings Conference Call February 1, 2022 10:00 AM ET Company Participants Norberto Aja - Investor Relations Dan Fachner - Chief Executive Officer Ken Plunk - Chief Financial Officer Lynwood Mallard - Chief Marketing Officer Conference Call Participants Rob Dickerson - Jefferies Todd Brooks - CL King & Associates Ryan Bell - Consumer Edge Research Robert Costello - Asset Management Inc. Disclaimer*: This transcript is designed to be used alongside the freely ava ...

K.COI Y R S E 0 A A N N U A L R E P O R T 2 Traded Ticker "JJSF" on Nasdaq Selling in national and international markets foodservi frozen reta Three core business groups Preparing for future innovation and success Our growing portfolio of product include soft pretzels, frozen beverages, frozen juice treats and desserts, stuffed sandwiches, churros, fruit pies, funnel cakes, cookies and bakery goods, and other snack foods and drinks. Consumers can enjoy these tasty products in a variety of settings where peo ...

J&J Snack Foods Corp. (NASDAQ:JJSF) Q4 2021 Results Conference Call November 16, 2021 10:00 AM ET Company Participants Norberto Aja - IR Dan Fachner - CEO Ken Plunk - CFO Conference Call Participants Ryan Bell - Consumer Edge Research Operator Welcome to the J&J Snack Foods Fourth Quarter Earnings Conference Call. My name is James, and I’ll be your operator for today’s call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the period ended June 26, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 0-14616 J&J SNACK FOODS CORP. (Exact name of registrant as specified in its charter) New Jersey 22-1935537 (State or other jurisdiction of (I.R.S. Employer incorporation or org ...

J&J Snack Foods Corp. (NASDAQ:JJSF) Q3 2021 Earnings Conference Call July 27, 2021 10:00 AM ET Company Participants Daniel Fachner - President and CEO Conference Call Participants Ryan Bell - Consumer Edge Research Robert Costello - Asset Management Inc. Operator Welcome to the J&J Snack Foods' Third Quarter Earnings Call. My name is Danielle and I'll be your operator for today's call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator In ...

Part I [Item 1. Consolidated Financial Statements](index=4&type=section&id=Item%20l.%20Consolidated%20Financial%20Statements) Presents J&J Snack Foods Corp.'s unaudited consolidated financial statements for the period ended March 27, 2021, detailing balance sheets, earnings, and cash flows [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheet Highlights (in thousands) | Account | March 27, 2021 | September 26, 2020 | | :--- | :--- | :--- | | **Total Current Assets** | $530,269 | $499,557 | | **Total Assets** | **$1,064,915** | **$1,056,553** | | **Total Current Liabilities** | $143,197 | $134,126 | | **Total Stockholders' Equity** | $813,000 | $809,498 | | **Total Liabilities and Stockholders' Equity** | **$1,064,915** | **$1,056,553** | [Consolidated Statements of Earnings](index=6&type=section&id=Consolidated%20Statements%20of%20Earnings) Statements of Earnings Highlights (in thousands, except per share amounts) | Metric | Three Months Ended Mar 27, 2021 | Three Months Ended Mar 28, 2020 | Six Months Ended Mar 27, 2021 | Six Months Ended Mar 28, 2020 | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $256,178 | $272,042 | $497,175 | $554,939 | | **Gross Profit** | $60,896 | $69,443 | $111,021 | $147,304 | | **Operating Income** | $7,230 | $10,982 | $7,808 | $32,685 | | **Net Earnings** | $6,061 | $7,309 | $7,839 | $24,368 | | **Earnings per diluted share** | $0.32 | $0.38 | $0.41 | $1.28 | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary for Six Months Ended (in thousands) | Cash Flow Activity | March 27, 2021 | March 28, 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $26,781 | $42,270 | | Net cash provided by (used in) investing activities | $23,788 | $(67,557) | | Net cash used in financing activities | $(8,367) | $(23,154) | | **Net increase (decrease) in cash** | **$42,577** | **$(49,426)** | | **Cash and cash equivalents at end of period** | **$238,386** | **$142,969** | [Notes to the Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) - The company's sales are negatively impacted by COVID-19, affecting approximately two-thirds of sales to venues that have shut down or curtailed operations, with capacity improving towards the end of the second quarter[26](index=26&type=chunk) - The company adopted ASU 2016-13 regarding credit loss measurement in Q1 FY2021, which did not materially impact consolidated financial statements[50](index=50&type=chunk) Depreciation Expense (in thousands) | Period | Depreciation Expense | | :--- | :--- | | Three months ended Mar 27, 2021 | $11,984 | | Three months ended Mar 28, 2020 | $12,923 | | Six months ended Mar 27, 2021 | $24,253 | | Six months ended Mar 28, 2020 | $24,810 | Earnings Per Share (EPS) | Period | Basic EPS | Diluted EPS | | :--- | :--- | :--- | | Three Months Ended Mar 27, 2021 | $0.32 | $0.32 | | Six Months Ended Mar 27, 2021 | $0.41 | $0.41 | | Three Months Ended Mar 28, 2020 | $0.39 | $0.38 | | Six Months Ended Mar 28, 2020 | $1.29 | $1.28 | - The effective tax rate for the six months ended March 27, 2021, was **20%**, down from 28% in the prior year, primarily due to an **$866,000** tax benefit from share-based compensation[50](index=50&type=chunk) - In fiscal year 2020, the company acquired assets of ICEE Distributors LLC and BAMA ICEE for a total purchase price of **$57.2 million**[72](index=72&type=chunk)[73](index=73&type=chunk)[74](index=74&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial condition, liquidity, and operations, highlighting COVID-19's impact on sales and operating income, offset by Retail Supermarkets' growth [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) - Primary sources of liquidity, including cash balances, investments, and future cash from operations, are considered sufficient for future growth[91](index=91&type=chunk) - A quarterly cash dividend of **$0.575 per share** was declared, payable on April 13, 2021[92](index=92&type=chunk) - The company has a **$50 million** revolving credit facility expiring in November 2021, with no outstanding balance as of March 27, 2021[96](index=96&type=chunk) - No shares were repurchased in the six months ended March 27, 2021, with **318,858 shares** remaining authorized for repurchase[93](index=93&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Consolidated Sales Performance | Period | Net Sales | Change YoY | | :--- | :--- | :--- | | Q2 FY2021 | $256,178,000 | -6% | | Six Months FY2021 | $497,175,000 | -10% | Segment Sales Performance (Q2 FY2021 vs Q2 FY2020) | Segment | Q2 FY2021 Sales | Change YoY | | :--- | :--- | :--- | | Food Service | $169,324,000 | -1% | | Retail Supermarkets | $43,906,000 | +17% | | Frozen Beverages | $42,948,000 | -32% | Segment Operating Income (Loss) Performance (Q2 FY2021 vs Q2 FY2020, in thousands) | Segment | Q2 FY2021 Operating Income | Q2 FY2020 Operating Income | Change YoY | | :--- | :--- | :--- | | Food Service | $6,055 | $7,951 | -24% | | Retail Supermarkets | $6,364 | $4,337 | +47% | | Frozen Beverages | $(5,189) | $(1,306) | Increased Loss | - Consolidated gross profit margin decreased to **23.8%** in Q2 2021 from 25.5% in Q2 2020, due to COVID-19 sales pressure creating margin leverage challenges from lower production volumes[111](index=111&type=chunk) - Consolidated operating income decreased by **34%** to **$7.2 million** in Q2 and by **76%** to **$7.8 million** in the six-month period[114](index=114&type=chunk) - Net earnings decreased by **17%** to **$6.1 million** in Q2 and by **68%** to **$7.8 million** in the six-month period[116](index=116&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material change in the company's market risk assessment since its 2020 annual report - There has been no material change in the Company's assessment of its sensitivity to market risk since its 2020 annual report on Form 10-K[119](index=119&type=chunk) [Item 4. Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) CEO and CFO concluded disclosure controls were effective, with no material changes to internal financial controls - The CEO and CFO concluded that the Company's disclosure controls and procedures are effective as of March 27, 2021[119](index=119&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, these controls[120](index=120&type=chunk) Part II [Item 6. Exhibits](index=35&type=section&id=Item%206.%20Exhibits) Lists exhibits filed, including Sarbanes-Oxley Act certifications and iXBRL financial data - Lists exhibits filed with the report, including Sarbanes-Oxley Act certifications (Sections 302 and 906) and financial data in iXBRL format[122](index=122&type=chunk)[123](index=123&type=chunk)[124](index=124&type=chunk)

J & J Snack Foods Corp. (NASDAQ:JJSF) Q2 2021 Earnings Conference Call April 27, 2020 10:00 AM ET Company Participants Daniel Fachner - President Gerry Shreiber - Founder, Chairman and CEO Ken Plunk - Senior Vice President and CFO Marjorie Roshkoff - Vice President and General Counsel Bob Radano - COO Bob Pape - Senior Vice President of Sales Conference Call Participants Ryan Bell - Consumer Edge Research Jon Andersen - William Blair & Company Todd Brooks - CL King & Associates Rob Dickerson - Jefferies R ...

[Part I. Financial Information](index=2&type=section&id=Part%20I.%20Financial%20Information) This part presents the company's unaudited financial statements, management's analysis, and disclosures on market risk and internal controls [Item 1. Consolidated Financial Statements](index=2&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) The unaudited consolidated financial statements for Q1 2021 include balance sheets, earnings, and cash flow statements [Consolidated Balance Sheets](index=2&type=section&id=Consolidated%20Balance%20Sheets) Total assets slightly decreased to **$1.052 billion**, with increased cash and stable stockholders' equity Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 26, 2020 (unaudited) | Sep 26, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$1,051,843** | **$1,056,553** | | Cash and cash equivalents | $228,335 | $195,809 | | Total current assets | $508,655 | $499,557 | | Property, plant and equipment, net | $259,214 | $261,616 | | Goodwill | $121,833 | $121,833 | | **Total Liabilities** | **$243,554** | **$247,055** | | Total current liabilities | $132,691 | $134,126 | | **Total Stockholders' Equity** | **$808,289** | **$809,498** | [Consolidated Statements of Earnings](index=3&type=section&id=Consolidated%20Statements%20of%20Earnings) Q1 2021 performance declined significantly, with net sales falling 15% and net earnings decreasing by 90% Consolidated Earnings Summary (in thousands, except per share amounts) | Metric | Three months ended Dec 26, 2020 | Three months ended Dec 28, 2019 | | :--- | :--- | :--- | | Net Sales | $240,997 | $282,897 | | Gross Profit | $50,125 | $77,861 | | Operating Income | $578 | $21,703 | | Net Earnings | $1,778 | $17,059 | | Earnings per diluted share | $0.09 | $0.89 | [Consolidated Statements of Cash Flows](index=5&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations decreased, but a net cash increase of **$32.5 million** was driven by investing activities Cash Flow Summary (in thousands) | Activity | Three months ended Dec 26, 2020 | Three months ended Dec 28, 2019 | | :--- | :--- | :--- | | Net cash provided by operating activities | $21,304 | $33,569 | | Net cash provided by (used in) investing activities | $17,367 | $(46,857) | | Net cash used in financing activities | $(6,572) | $(9,065) | | **Net increase (decrease) in cash** | **$32,526** | **$(22,068)** | | Cash and cash equivalents at end of period | $228,335 | $170,327 | [Notes to the Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) Details the significant negative impact of COVID-19 on sales and outlines key accounting policies - The company states that approximately **two-thirds of its sales** are to venues and locations that have been shut down or have sharply curtailed operations due to COVID-19, resulting in a negative impact on the business[21](index=21&type=chunk) - Revenue is primarily recognized at a point-in-time when product control is transferred to the customer, which is generally upon delivery, installation, or pickup[24](index=24&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes a 15% sales decrease and 97% operating income drop to COVID-19's impact on key segments Overall Performance Summary (Q1 FY21) | Metric | Amount | Change vs. Q1 FY20 | | :--- | :--- | :--- | | Net Sales | $240,997,000 | -15% | | Operating Income | $578,000 | -97% | [Liquidity and Capital Resources](index=18&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position, declared a quarterly dividend, and has an undrawn credit facility - The Board of Directors declared a quarterly cash dividend of **$0.575 per share**[78](index=78&type=chunk) - The company has a **$50 million revolving credit facility**, with no outstanding balance at the end of the quarter[81](index=81&type=chunk) - No shares were repurchased in the quarter; **318,858 shares remain authorized** for purchase[79](index=79&type=chunk) [Results of Operations](index=18&type=section&id=Results%20of%20Operations) Pandemic impact led to sales declines in Food Service and Frozen Beverages but growth in Retail Supermarkets Segment Sales Performance (Q1 FY21 vs Q1 FY20) | Segment | Q1 FY21 Sales (in thousands) | Change vs. Q1 FY20 | | :--- | :--- | :--- | | Food Service | $160,425 | -13% | | Retail Supermarkets | $39,094 | +33% | | Frozen Beverages | $41,478 | -41% | - Gross profit as a percentage of sales decreased to **20.8% from 27.5%** in the prior year, attributed to COVID-19 sales pressure creating margin leverage challenges[89](index=89&type=chunk) - Net earnings decreased **90% to $1.8 million**, with an effective tax rate of 8% for the quarter[91](index=91&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=19&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material change in its market risk sensitivity since the 2020 annual report - There has been **no material change** in the Company's assessment of its sensitivity to market risk since its 2020 annual report on Form 10-K[92](index=92&type=chunk) [Item 4. Controls and Procedures](index=19&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes to internal controls - The CEO and CFO concluded that the company's disclosure controls and procedures are **effective** as of December 26, 2020[92](index=92&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[93](index=93&type=chunk) [Part II. Other Information](index=20&type=section&id=Part%20II.%20Other%20Information) This part lists the exhibits filed with the Form 10-Q, including required certifications and iXBRL data [Item 6. Exhibits](index=20&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with the report, including Sarbanes-Oxley certifications and iXBRL financial data - Exhibits filed include **CEO and CFO certifications** under Sarbanes-Oxley Sections 302 and 906[94](index=94&type=chunk) - The report includes financial statements and notes formatted in **iXBRL** as Exhibit 101.1[94](index=94&type=chunk)