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<font style="display:inline;font-size:10pt;"> </font>
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<font style="display:inline;font-weight:bold;font-size:10pt;">7. Dividends on common stock:</font>
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<font style="display:inline;font-size:10pt;"> </font>
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<font style="display:inline;font-size:10pt;">Dividends are recorded as a reduction to retained earnings. Dividends on unvested restricted shares of common stock are paid as the awards vest. The Company’s initial quarterly dividend payment was made in the third quarter of 2012. In addition to the Company’s regular quarterly dividends, in 2013, the Company’s Board of Directors approved an additional return of capital program (the “Capital Program”). Under the Capital Program the Company plans on returning additional capital to the Company’s shareholders each quarter through either stock buybacks or a special dividend or a combination of stock buybacks and a special dividend. The aggregate payment under the Capital Program initially was a minimum of $10.0 million each quarter and was increased to be a minimum of $12.0 million each quarter. Amounts paid under the Capital Program are in addition to the Company’s regular quarterly dividend payments.</font>
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<font style="display:inline;font-size:10pt;"> </font>
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<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">On August 3, 2016, the Company’s Board of Directors approved the payment of our quarterly dividend of $0.38 per common share. The dividend for the third quarter of 2016 will be paid to holders of record on August 19, 2016. This estimated $16.9 million dividend payment is expected to be made on September 9, 2016.</font>
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<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
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<font style="display:inline;font-size:10pt;">The payment of any future dividends and any other returns of capital, including stock buybacks and our Capital Program, will be at the discretion of the Company’s Board of Directors and may be reduced, eliminated or increased and will be dependent upon the Company’s financial position, results of operations, available cash, cash flow, capital requirements, limitations under the Company’s debt indentures and other factors deemed relevant by the Company’s Board of Directors. The Company is a Delaware Corporation and under the General Corporate Law of the State of Delaware distributions may be restricted including a restriction that distributions, including stock purchases and dividends, do not result in an impairment of a corporation’s capital, as defined under Delaware Law. The indentures governing the Company’s notes limit the Company’s ability to return cash to its stockholders. Consequently, on November 2, 2015, the Company’s Board of Directors suspended the $12.0 million quarterly minimum payment under the Capital Program. As the Company’s cash flow increases the indenture covenants permit additional distributions to stockholders. See Note 3 for additional discussion of limitations on the Capital Program.</font>
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<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">6. Common stock buyback program:</font>
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<font style="display:inline;font-size:10pt;"> </font>
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<font style="display:inline;font-size:10pt;">The Company’s Board of Directors has approved purchases of the Company’s common stock under a buyback program (the “Buyback Program”) through December 31, 2016. At June 30, 2016, there was approximately $47.8 million remaining for purchases under the Buyback Program. During the three and six months ended June 30, 2015 the Company purchased 0.6 million and 0.8 million shares of its common stock for $19.1 million and $27.2 million, respectively. There were no purchases of common stock during the three and six months ended June 30, 2016.</font>
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<font style="display:inline;font-size:10pt;"> </font>
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<font style="display:inline;font-size:10pt;"> </font>
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<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">Basis of presentation</font>
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<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
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<font style="display:inline;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments that the Company considers necessary for the fair presentation of its results of operations and cash flows for the interim periods covered, and of the financial position of the Company at the date of the interim condensed consolidated balance sheet. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The operating results for interim periods are not necessarily indicative of the operating results for the entire year. While the Company believes that the disclosures are adequate to not make the information misleading, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in its annual report on Form 10-K for the year ended December 31, 2015.</font>
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<font style="display:inline;font-size:10pt;"> </font>
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<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The accompanying unaudited consolidated financial statements include all wholly-owned subsidiaries. All inter-company accounts and activity have been eliminated.</font>
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<font style="display:inline;font-size:10pt;"> </font>
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<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">4. Commitments and contingencies</font><font style="display:inline;font-size:10pt;">:</font>
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<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Current and potential litigation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:20.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In accordance with the accounting guidance for contingencies, the Company accrues its estimate of a contingent liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Where it is probable that a liability has been incurred and there is a range of expected loss for which no amount in the range is more likely than any other amount, the Company accrues at the low end of the range. The Company reviews its accruals at least quarterly and adjusts them to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular matter. The Company has taken certain positions related to its obligations for leased circuit and dark fiber obligations for which it is reasonably possible could result in a loss of up to $2.5 million in excess of the amount accrued at June 30, 2016.</font>
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<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:20.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In December 2011, certain former sales employees of the Company filed a collective action against the Company in the United States District Court, Southern District of Texas, Houston Division alleging misclassification of the Company’s sales employees throughout the United States in violation of the Fair Labor Standards Act. The lawsuit sought to recover pay for allegedly unpaid overtime and other damages, including attorney’s fees. In March 2014, the judge de-certified the collective action. Each of the former employees that opted-in to the collective action retained the right to file an individual action. Approximately 70 former employees did so. The Company has settled a number of the cases that were filed and made the required settlement payments. Currently, only one case in California remains (Ambrosia v. Cogent Communications, Inc. in the U. S. District Court for the Northern District of California). On January 4, 2016, the judge provisionally certified a class and collective action related to the employees in California. The Company denies the claims and believes that the claims for unpaid overtime are without merit. The Company believes its classification of sales employees is in compliance with applicable law.</font>
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<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:20.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In the ordinary course of business the Company is involved in other legal activities and claims. Because such matters are subject to many uncertainties and the outcomes are not predictable with assurance, the liability related to these legal actions and claims cannot be determined with certainty. Management does not believe that such claims and actions will have a material impact on the Company’s financial condition or results of operations. Judgment is required in estimating the ultimate outcome of any dispute resolution process, as well as any other amounts that may be incurred to conclude the negotiations or settle any litigation. Actual results may differ from these estimates under different assumptions or conditions and such differences could be material.</font>
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<font style="display:inline;font-size:10pt;"> </font>
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<font style="display:inline;font-size:10pt;"> </font>
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<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">8. Incentive award plan:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
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<font style="display:inline;font-size:10pt;">The Company has an award plan, the 2004 Incentive Award Plan, as amended (the “Award Plan”), under which grants of stock and options are made. In May 2016 the Company granted 73,450 restricted shares under the Award Plan with a grant date fair value of $2.9 million that are subject to certain performance conditions based upon the Company’s operating metrics and will be recognized as equity-based compensation expense on a straight line basis over the service period. In the second quarter of 2016, the Company also granted 247,180 restricted shares to certain of its employees that will vest on a quarterly basis in 2019 and over a four year period. These restricted shares had a grant date fair value of $9.6 million and will be recognized as equity-based compensation expense on a straight line basis over the service period.</font>
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<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Basic and diluted net income (loss) per common share</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Basic earnings per share (“EPS”) excludes dilution for common stock equivalents and is computed by dividing net income or (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding during each period, adjusted for the effect of dilutive common stock equivalents. Shares of restricted stock are included in the computation of basic EPS as they vest and are included in diluted EPS, to the extent they are dilutive, determined using the treasury stock method. For the three and six months ended June 30, 2016 and 2015, the Company’s employees exercised options for 18,968, 28,478, 6,165 and 12,624 common shares, respectively.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The following details the determination of diluted weighted average shares:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 90.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:42.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Weighted average common shares - basic</font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,491,899
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,774,831
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,484,863
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Dilutive effect of stock options</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,498
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,749
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,989
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Dilutive effect of restricted stock</font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>175,640
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>236,927
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>155,229
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Weighted average common shares - diluted</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,705,037
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,054,507
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,676,081
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The following details unvested shares of restricted common stock as well as the anti-dilutive effects of stock options and restricted stock awards outstanding:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 92.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:36.90%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Unvested shares of restricted common stock</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,062,790
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,128,863
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,062,790
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,128,863
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Anti-dilutive options for common stock</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>64.349
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120,533
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100,504
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>110,385
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Anti-dilutive shares of restricted common stock</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>369,243
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>99,308
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,894
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
-2361000
909000
100000
100000
4200000
2200000
5597000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Financial instruments</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">At June 30, 2016, the carrying amount of cash and cash equivalents, accounts receivable, prepaid and other current assets, accounts payable and accrued expenses approximated fair value because of the short-term nature of these instruments. The Company measures its cash equivalents at amortized cost, which approximates fair value based upon quoted market prices (Level 1). Based upon recent trading prices (Level 2 — market approach) at June 30, 2016 the fair value of the Company’s $189.2 million senior unsecured notes was $189.2 million and the fair value of the Company’s $250.0 million senior secured notes was $249.1 million.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The Company was party to letters of credit totaling $0.1 million as of June 30, 2016. These letters of credit are secured by investments that are restricted and included in other assets.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
10110000
10100000
1837000
6480000
-587000
-587000
200000
10110000
2268000
719000
6385000
400000
4439000
-10144000
903000
6078000
24618000
13230000
814000
1535000
13346000
7603000
-89000
-4543000
-11272000
-5627000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">5. Income taxes:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The components of income (loss) before income taxes consist of the following (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 92.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:22.82%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Domestic</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.16%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,230
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,078
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,618
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>903
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Foreign</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,627
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(4,543
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,272
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(89
</td>
<td valign="bottom" style="width:01.02%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">)</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.16%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,603
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,535
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,346
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.06%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>814
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
1558000
695000
5768000
3379000
-1126000
1445000
689000
8765000
3124000
3435000
42749
236927
35989
155229
37498
175640
516000
417000
468000
335000
21000000
9692000
20309000
10243000
10900000
P5Y
100000
675087000
655767000
662816000
626378000
68904000
65881000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">3. Long-term debt:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Senior unsecured notes- $200.0 million</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Group is obligor on $189.2 million (originally $200.0 million) of 5.625% Senior Notes due 2021 (the “2021 Notes”). The 2021 Notes were sold in private offerings for resale to qualified institutional buyers pursuant to SEC Rule 144A. Holdings provided a guarantee of the 2021 Notes but Holdings is not subject to the covenants under the indenture.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In the second quarter of 2016, the Company paid $10.9 million for the purchase of $10.8 million of par value and accrued interest on its 2021 Notes reducing the principal amount to $189.2 million and resulting in a loss of $0.2 million. The loss resulted from the write off of the remaining unamortized debt issuance costs related to the purchased notes.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Debt extinguishment, redemption and new debt issuance- $250.0 million</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In March 2015, Group redeemed its $240.0 million 8.375% senior notes due in 2018 (the “2018 Notes”) with the proceeds from its February 2015 issuance of $250.0 million of 5.375% senior secured notes (the “2022 Notes”) and existing cash on hand. In February 2015 the Company deposited $251.6 million with the trustee for the benefit of the holders of the 2018 Notes in order to redeem on March 12, 2015 the entire outstanding amount of 2018 Notes at a redemption price of 104.188% of the $240.0 million principal amount thereof plus accrued and unpaid interest. As a result of this transaction the Company incurred a loss on debt extinguishment and redemption of $10.1 million in the six months ended June 30, 2015.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:62pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The 2022 Notes were sold in private offerings for resale to qualified institutional buyers pursuant to SEC Rule 144A and mature on March 1, 2022. Interest accrues at 5.375% beginning on February 20, 2015 and is paid semi-annually in arrears on March 1 and September 1 of each year, commencing on September 1, 2015. The net proceeds from the offering were $248.7 million after deducting discounts and commissions and offering expenses.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Limitations under the indentures</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:20.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The indentures governing the 2022 and 2021 Notes, among other things, limits the Company’s ability to incur indebtedness; to pay dividends or make other distributions; to make certain investments and other restricted payments; to create liens; consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; to incur restrictions on the ability of a subsidiary to pay dividends or make other payments; and to enter into certain transactions with its affiliates. Limitations on the ability to incur additional indebtedness (excluding IRU agreements incurred in the normal course of business) include a restriction on incurring additional indebtedness if the Company’s consolidated leverage ratio, as defined in the indentures, is greater than 5.0. The indentures prohibit certain payments, such as dividends and stock purchases, when the Company’s consolidated leverage ratio, as defined by the indentures, is greater than 4.25. A limited amount of such unrestricted payments is permitted notwithstanding this prohibition. As of June 30, 2016, $11.2 million was available for such unrestricted payments. This amount may be increased by the Company’s consolidated cash flow, as defined in the indentures, as long as the Company’s consolidated leverage ratio is less than 4.25. The Company’s consolidated leverage ratio is currently below 4.25 as of June 30, 2016, and as a result, an additional $154.5 million is available for permitted investments including dividends and stock purchases.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Senior secured notes- $240.0 million</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">On January 26, 2011 and on August 19, 2013, the Company issued its 8.375% 2018 Notes for aggregate principal amounts of $175.0 million and $65.0 million, respectively, in private offerings for resale to qualified institutional buyers pursuant to SEC Rule 144A. The 2018 Notes were secured and bore interest at 8.375% per annum. Interest was payable in cash semiannually in arrears on February 15 and August 15, of each year. On January 26, 2011, the Company received net proceeds of $170.5 million after deducting $4.5 million of issuance costs from issuing $175.0 million of its 2018 Notes. On August 19, 2013, the Company received net proceeds of approximately $69.9 million after deducting $1.0 million of issuance costs from issuing $65.0 million of 2018 Notes. The 2018 Notes sold in August 2013 were sold at 109.00% of par value. The resulting $5.9 million premium was being amortized as a reduction to interest expense to the maturity date using the effective interest rate method. In March 2015, the 2018 Notes were extinguished and redeemed with the proceeds of the Company’s issuance of its $250.0 million of 2022 Notes and cash on hand.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
2500000
-75642000
-71494000
-23700000
-29294000
38407000
51255000
-744000
840000
7578000
4224000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Recent accounting pronouncements—to be adopted</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:20.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In February 2016, the FASB issued ASU No. 2016-02, </font><font style="display:inline;font-style:italic;font-size:10pt;">Leases</font><font style="display:inline;font-size:10pt;">. The ASU will replace most existing accounting for lease guidance when it becomes effective. The new standard is effective for the Company beginning on January 1, 2019. Early application is permitted. The standard must be adopted using the modified retrospective approach. The standard will require the Company to record a right to use asset and a lease liability for most of the Company’s leases including the Company’s leases currently treated as operating leases. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures and has not yet determined the effect of the standard on its ongoing financial reporting.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In May 2014, the FASB issued ASU No. 2014-09, </font><font style="display:inline;font-style:italic;font-size:10pt;">Revenue from Contracts with Customers</font><font style="display:inline;font-size:10pt;">, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company beginning on January 1, 2018. Early application is permitted for annual periods beginning after December 31, 2016. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
1744000
360163000
74976000
285187000
370600000
79364000
291236000
1
21298000
10810000
33187000
17511000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">1. Description of the business and recent developments:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">Reorganization and merger</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">On May 15, 2014, pursuant to the Agreement and Plan of Reorganization (the “Merger Agreement”) by and among Cogent Communications Group, Inc. (“Group”), a Delaware corporation, Cogent Communications Holdings, Inc., a Delaware corporation (“Holdings”) and Cogent Communications Merger Sub, Inc., a Delaware corporation (“Merger Sub”), Group adopted a new holding company organizational structure whereby Group is now a wholly owned subsidiary of Holdings. Holdings is a “successor issuer” to Group pursuant to Rule 12g-3(a) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). References to the “Company” for events that occurred prior to May 15, 2014 refer to Cogent Communications Group, Inc. and its subsidiaries and on and after May 15, 2014 the “Company” refers to Cogent Communications Holdings, Inc. and its subsidiaries.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">Description of business</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:17.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The Company is a Delaware corporation and is headquartered in Washington, DC. The Company is a facilities-based provider of low-cost, high-speed Internet access and Internet Protocol (“IP”) communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and Asia.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:20.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The Company offers on-net Internet access services exclusively through its own facilities, which run from its network to its customers’ premises. The Company is not dependent on local telephone companies to serve its customers for its on-net Internet access services because of its integrated network architecture. The Company offers its on-net services to customers located in buildings that are physically connected to its network. The Company’s on-net service consists of high-speed Internet access and IP connectivity ranging from 100 Megabits per second to 100 Gigabits per second of bandwidth. The Company provides its on-net Internet access services to its corporate and net-centric customers. The Company’s corporate customers are located in multi-tenant office buildings and typically include law firms, financial services firms, advertising and marketing firms and other professional services businesses. The Company’s net-centric customers include bandwidth-intensive users such as universities, other Internet service providers, telephone companies, cable television companies, web hosting companies, content delivery network companies and commercial content and application service providers. These net-centric customers obtain the Company’s services in carrier neutral data centers and in the Company’s data centers. The Company operates data centers throughout North America and Europe that allow its customers to collocate their equipment and access the Company’s network.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:20.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In addition to providing its on-net services, the Company provides Internet connectivity to customers that are not located in buildings directly connected to its network. The Company provides this off-net service primarily to corporate customers using other carriers’ facilities to provide the “last mile” portion of the link from the customers’ premises to the Company’s network. The Company also provides certain non-core services that resulted from acquisitions. The Company continues to support but does not actively sell these non-core services.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">Basis of presentation</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments that the Company considers necessary for the fair presentation of its results of operations and cash flows for the interim periods covered, and of the financial position of the Company at the date of the interim condensed consolidated balance sheet. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The operating results for interim periods are not necessarily indicative of the operating results for the entire year. While the Company believes that the disclosures are adequate to not make the information misleading, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in its annual report on Form 10-K for the year ended December 31, 2015.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The accompanying unaudited consolidated financial statements include all wholly-owned subsidiaries. All inter-company accounts and activity have been eliminated.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Use of estimates</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Financial instruments</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">At June 30, 2016, the carrying amount of cash and cash equivalents, accounts receivable, prepaid and other current assets, accounts payable and accrued expenses approximated fair value because of the short-term nature of these instruments. The Company measures its cash equivalents at amortized cost, which approximates fair value based upon quoted market prices (Level 1). Based upon recent trading prices (Level 2 — market approach) at June 30, 2016 the fair value of the Company’s $189.2 million senior unsecured notes was $189.2 million and the fair value of the Company’s $250.0 million senior secured notes was $249.1 million.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The Company was party to letters of credit totaling $0.1 million as of June 30, 2016. These letters of credit are secured by investments that are restricted and included in other assets.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Gross receipts taxes, universal service fund and other surcharges</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:20.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Revenue recognition standards include guidance relating to taxes or surcharges assessed by a governmental authority that are directly imposed on a revenue-producing transaction between a seller and a customer and may include, but are not limited to, gross receipts taxes, excise taxes, Universal Service Fund fees and certain state regulatory fees. Such charges may be presented gross or net based upon the Company’s accounting policy election. The Company records certain excise taxes and surcharges on a gross basis and includes them in its revenues and costs of network operations. Excise taxes and surcharges billed to customers and recorded on a gross basis (as service revenue and network operations expense) were $2.2 million, $4.2 million, $0.1 million and $0.1 million for the three and six months ended June 30, 2016 and June 30, 2015, respectively.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Basic and diluted net income (loss) per common share</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Basic earnings per share (“EPS”) excludes dilution for common stock equivalents and is computed by dividing net income or (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding during each period, adjusted for the effect of dilutive common stock equivalents. Shares of restricted stock are included in the computation of basic EPS as they vest and are included in diluted EPS, to the extent they are dilutive, determined using the treasury stock method. For the three and six months ended June 30, 2016 and 2015, the Company’s employees exercised options for 18,968, 28,478, 6,165 and 12,624 common shares, respectively.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The following details the determination of diluted weighted average shares:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 90.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:42.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Weighted average common shares - basic</font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,491,899
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,774,831
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,484,863
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Dilutive effect of stock options</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,498
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,749
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,989
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Dilutive effect of restricted stock</font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>175,640
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>236,927
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>155,229
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Weighted average common shares - diluted</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,705,037
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,054,507
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,676,081
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The following details unvested shares of restricted common stock as well as the anti-dilutive effects of stock options and restricted stock awards outstanding:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 92.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:36.90%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Unvested shares of restricted common stock</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,062,790
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,128,863
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,062,790
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,128,863
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Anti-dilutive options for common stock</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>64.349
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120,533
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100,504
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>110,385
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Anti-dilutive shares of restricted common stock</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>369,243
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>99,308
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,894
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Recent accounting pronouncements—to be adopted</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:20.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In February 2016, the FASB issued ASU No. 2016-02, </font><font style="display:inline;font-style:italic;font-size:10pt;">Leases</font><font style="display:inline;font-size:10pt;">. The ASU will replace most existing accounting for lease guidance when it becomes effective. The new standard is effective for the Company beginning on January 1, 2019. Early application is permitted. The standard must be adopted using the modified retrospective approach. The standard will require the Company to record a right to use asset and a lease liability for most of the Company’s leases including the Company’s leases currently treated as operating leases. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures and has not yet determined the effect of the standard on its ongoing financial reporting.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In May 2014, the FASB issued ASU No. 2014-09, </font><font style="display:inline;font-style:italic;font-size:10pt;">Revenue from Contracts with Customers</font><font style="display:inline;font-size:10pt;">, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company beginning on January 1, 2018. Early application is permitted for annual periods beginning after December 31, 2016. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
-5713000
1683000
2107000
-1967000
30977000
24728000
27225000
4500000
1000000
34973000
32842000
16900000
23782000
29294000
17030000
20701000
170500000
69900000
248599000
248700000
-10775000
82000
219000
630000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">2. Property and equipment:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Depreciation and amortization expense related to property and equipment and capital leases was $18.6 million, $36.4 million, $17.4 million and $34.8 million for the three and six months ended June 30, 2016 and 2015, respectively. The Company capitalized salaries and related benefits of employees working directly on the construction and build-out of its network of $2.6 million, $4.4 million, $2.1 million and $4.3 million for the three and six months ended June 30, 2016 and 2015, respectively.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Exchange agreement</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In the three and six months ended June 30, 2016 and 2015, the Company exchanged certain used network equipment and cash consideration for new network equipment. The fair value of the equipment received was estimated to be $7.4 million, $12.5 million, $1.7 million and $8.3 million, respectively. After considering the cash component the transactions resulted in gains of $4.4 million, $6.4 million, $0.7 million and $2.3 million respectively. The estimated fair value of the equipment received was based upon the cash consideration price the Company pays for the new network equipment on a standalone basis (Level 3).</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Purchase and installment payment agreements</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:24pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In January 2015, the Company entered into a purchase agreement with a vendor. Under the purchase agreement the Company was required to purchase a total of $28.9 million of network equipment during the eighteen month term. As of June 30, 2016, the Company completed the purchases required under the purchase agreement. In March 2015, the Company entered into an installment payment agreement (“IPA”) with this vendor. Under the IPA the Company was able to purchase up to $25.0 million of network equipment in exchange for interest free note obligations each with a twenty-four month term. There were no payments under each note obligation for the first six months followed by eighteen equal installment payments for the remaining eighteen month term. As of December 31, 2015 there was $21.2 million of note obligations outstanding under the IPA, secured by the related equipment. The Company recorded the net present value of the note obligation utilizing an imputed interest rate. The resulting discount of $0.8 million as of December 31, 2015 was amortized over the note term using the effective interest rate method. In June 2016, the Company elected to repay the outstanding $17.1 million principal balance of the IPA prior to its maturity resulting in a loss of $0.4 million from the remaining unamortized discount.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Gain on capital lease termination</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">In March 2015 the Company elected to terminate certain IRU capital lease obligations in Spain with a vendor. The Company has obtained alternative fiber to serve its customers in Spain. Under its estimate of the termination provisions of the related contracts the Company has recorded an estimated termination liability of $8.1 million included in accrued and other current liabilities. The difference between the remaining carrying amount of the related IRU capital lease liabilities ($29.9 million), the remaining net book value of the IRU assets ($10.0 million) and the termination liability and amounts due through the termination date was recorded as a gain on capital lease termination of $10.1 million.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
10000000
360136000
370573000
28900000
25000000
400000
300000
900000
500000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">9. Related party transactions:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:4pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Office leases</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The Company’s headquarters was located in an office building owned by Niobium LLC (a successor to 6715 Kenilworth Avenue Partnership). The two owners of Niobium LLC are the Company’s Chief Executive Officer, David Schaeffer, who has a 51% interest in Niobium LLC and his wife who has a 49% interest. The lease was scheduled to end on August 31, 2016 and was cancellable by the Company upon 60 days’ notice. The Company terminated the lease effective as of May 10, 2015. In April 2015, the Company entered into a new lease agreement for its headquarters building with Sodium LLC whose two owners are the Company’s Chief Executive Officer, who has a 51% interest in Sodium LLC and his wife who has a 49% interest. The Company moved into the new headquarters building in May 2015. The fixed annual rent for the new headquarters building is $1.0 million per year plus an allocation of taxes and utilities. The lease term is for five years and is cancellable by the Company upon 60 days’ notice. The Company’s audit committee reviews and approves all transactions with related parties. The Company paid $0.5 million, $0.9 million, $0.3 million and $0.4 million in the three and six months ended June 30, 2016 and 2015, respectively, for rent and related costs (including taxes and utilities) to these lessors for these leases.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
10982000
7304000
21203000
251280000
240000000
-431784000
-457048000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Gross receipts taxes, universal service fund and other surcharges</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:20.25pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Revenue recognition standards include guidance relating to taxes or surcharges assessed by a governmental authority that are directly imposed on a revenue-producing transaction between a seller and a customer and may include, but are not limited to, gross receipts taxes, excise taxes, Universal Service Fund fees and certain state regulatory fees. Such charges may be presented gross or net based upon the Company’s accounting policy election. The Company records certain excise taxes and surcharges on a gross basis and includes them in its revenues and costs of network operations. Excise taxes and surcharges billed to customers and recorded on a gross basis (as service revenue and network operations expense) were $2.2 million, $4.2 million, $0.1 million and $0.1 million for the three and six months ended June 30, 2016 and June 30, 2015, respectively.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
196041000
35210000
160831000
98799000
17605000
81194000
218247000
36765000
181482000
109955000
18526000
91429000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 92.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:36.90%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Unvested shares of restricted common stock</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,062,790
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,128,863
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,062,790
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,128,863
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Anti-dilutive options for common stock</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>64.349
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120,533
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100,504
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>110,385
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:36.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Anti-dilutive shares of restricted common stock</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:12.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">—</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>369,243
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>99,308
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,894
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The components of income (loss) before income taxes consist of the following (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 92.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:22.82%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Domestic</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.16%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,230
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,078
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,618
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>903
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Foreign</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,627
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(4,543
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,272
</td>
<td valign="bottom" style="width:02.72%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">)</font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(89
</td>
<td valign="bottom" style="width:01.02%;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">)</font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.16%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,603
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,535
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,346
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.06%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>814
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The Company operates as one operating segment. The Company’s service revenue and long lived assets by geographic region are as follows (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 92.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:22.82%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Revenues</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">North America</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.16%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>91,429
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>81,194
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>181,482
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>160,831
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Europe</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,526
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,605
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,765
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,210
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.16%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>109,955
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>98,799
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>218,247
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.06%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>196,041
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 84.00%;margin-left:36pt;">
<tr>
<td valign="bottom" style="width:64.28%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">June 30,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2016</font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Long lived assets, net</font></p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">North America</font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.34%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.94%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>291,236
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.34%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.94%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>285,187
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Europe</font></p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79,364
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>74,976
</td>
<td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.34%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.94%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>370,600
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.34%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.94%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>360,163
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 90.00%;margin-left:0pt;">
<tr>
<td valign="bottom" style="width:42.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Weighted average common shares - basic</font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,491,899
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,774,831
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,484,863
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Dilutive effect of stock options</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,498
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,749
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,989
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Dilutive effect of restricted stock</font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>175,640
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>236,927
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>155,229
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Weighted average common shares - diluted</font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,705,037
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,054,507
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:16.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>44,676,081
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:42.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:16.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.12%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
248748000
248835000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;">10. Segment information:</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:18pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The Company operates as one operating segment. The Company’s service revenue and long lived assets by geographic region are as follows (in thousands):</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 92.00%;margin-left:18pt;">
<tr>
<td valign="bottom" style="width:22.82%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2016</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">Six Months</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">Ended</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">June 30, 2015</font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Revenues</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">North America</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.16%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>91,429
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>81,194
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>181,482
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>160,831
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Europe</font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,526
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,605
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,765
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,210
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.16%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>109,955
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>98,799
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.08%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>218,247
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:15.06%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>196,041
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:22.82%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.72%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:15.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 84.00%;margin-left:36pt;">
<tr>
<td valign="bottom" style="width:64.28%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">June 30,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2016</font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 8pt;">
<font style="display:inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Long lived assets, net</font></p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">North America</font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.34%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.94%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>291,236
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.34%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.94%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>285,187
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Europe</font></p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79,364
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>74,976
</td>
<td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10.1pt;line-height:106.67%;text-indent: -10.1pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.34%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.94%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>370,600
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
<td valign="bottom" style="width:01.34%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">$</font></p>
</td>
<td valign="bottom" style="width:12.94%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>360,163
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 12pt;">
</p>
</td>
</tr>
<tr>
<td valign="top" style="width:64.28%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:02.98%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:12.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.20%;padding:0pt;">
<p style="margin:0pt;line-height:106.67%;font-family:Times New Roman,Times,serif;font-size: 1pt;">
<font style="display:inline;font-size:1pt;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The majority of North American revenue consists of services delivered within the United States.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
58603000
28925000
59352000
29820000
250000000
6240000
4868000
P4Y
247180
73450
1128863
1062790
9600000
2900000
-12271000
-29389000
12624
6165
28478
18968
800000
600000
0
0
27200000
19100000
47800000
1252000
3305000
1165000
2835000
196695000
186390000
189200000
<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-style:italic;font-size:10pt;">Use of estimates</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;text-indent:25.2pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;">The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates.</font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
<font style="display:inline;font-size:10pt;"> </font>
</p></div><div style="margin-left:0%;margin-right:0%;">
<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div>
45012441
45054507
44676081
44705037
45012441
44774831
44484863
44491899