10-Q Filing

NEUROCRINE BIOSCIENCES INC CIK: 914475 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-247437`
Period End Date	20170630
Filing Date	20170803
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	nbix-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 76 Cash Flow Statement 62

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$309.50M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$83.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$74.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$86.25M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments, available for sale	`AvailableForSaleSecuritiesCurrent`	$224.08M	USD	Point-in-time
Short-term investments, available for sale	`AvailableForSaleSecuritiesCurrent`	$215.52M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$6.07M	USD	Point-in-time
Inventory	`InventoryNet`	$128.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$5.53M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.09M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	86.88M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	88.22M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	86.88M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	88.22M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$536.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$310.44M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.95M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.27M	USD	Point-in-time
Long-term investments, available for sale	`AvailableForSaleSecuritiesNoncurrent`	$43.49M	USD	Point-in-time
Long-term investments, available for sale	`AvailableForSaleSecuritiesNoncurrent`	$205.77M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$4.88M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$4.61M	USD	Point-in-time
Total assets	`Assets`	$365.09M	USD	Point-in-time
Total assets	`Assets`	$754.09M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$26.81M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$26.18M	USD	Point-in-time
Current portion of cease-use liability	`CeaseUseLiabilityCurrent`	$181.00K	USD	Point-in-time
Current portion of cease-use liability	`CeaseUseLiabilityCurrent`	$236.00K	USD	Point-in-time
Current portion of deferred rent	`DeferredRentCreditCurrent`	$470.00K	USD	Point-in-time
Current portion of deferred rent	`DeferredRentCreditCurrent`	-	USD	Point-in-time
Current portion of deferred gain on sale of real estate	`DeferredGainOnSaleOfRealEstateCurrent`	$731.00K	USD	Point-in-time
Current portion of deferred gain on sale of real estate	`DeferredGainOnSaleOfRealEstateCurrent`	$3.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$30.41M	USD	Point-in-time
Deferred gain on sale of real estate	`DeferredGainOnSaleOfRealEstateNoncurrent`	$8.41M	USD	Point-in-time
Deferred gain on sale of real estate	`DeferredGainOnSaleOfRealEstateNoncurrent`	$7.37M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$10.23M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$10.23M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$1.69M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$1.46M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtNoncurrent`	$360.68M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtNoncurrent`	-	USD	Point-in-time
Cease-use liability	`CeaseUseLiabilityNoncurrent`	-	USD	Point-in-time
Cease-use liability	`CeaseUseLiabilityNoncurrent`	$617.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$113.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$113.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$408.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$50.21M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 220,000,000 shares authorized; issued and outstanding shares were 88,216,868 as of June 30, 2017 and 86,883,300 as of December 31, 2016	`CommonStockValue`	$87.00K	USD	Point-in-time
Common stock, $0.001 par value; 220,000,000 shares authorized; issued and outstanding shares were 88,216,868 as of June 30, 2017 and 86,883,300 as of December 31, 2016	`CommonStockValue`	$88.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.54B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.37B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-713.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-318.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.06B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.19B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$345.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$314.88M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$365.09M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$754.09M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Product sales, net	`SalesRevenueGoodsNet`	$6.33M	USD	2 Qtrs
Product sales, net	`SalesRevenueGoodsNet`	$6.33M	USD	1 Quarter
Product sales, net	`SalesRevenueGoodsNet`	-	USD	1 Quarter
Product sales, net	`SalesRevenueGoodsNet`	-	USD	2 Qtrs
License fees and milestones	`LicensesRevenue`	$15.00M	USD	2 Qtrs
License fees and milestones	`LicensesRevenue`	-	USD	1 Quarter
License fees and milestones	`LicensesRevenue`	-	USD	2 Qtrs
License fees and milestones	`LicensesRevenue`	-	USD	1 Quarter
Total revenues	`Revenues`	$6.33M	USD	1 Quarter
Total revenues	`Revenues`	$15.00M	USD	2 Qtrs
Total revenues	`Revenues`	-	USD	1 Quarter
Total revenues	`Revenues`	$6.33M	USD	2 Qtrs
Cost of product sales	`CostOfGoodsSold`	$61.00K	USD	2 Qtrs
Cost of product sales	`CostOfGoodsSold`	-	USD	2 Qtrs
Cost of product sales	`CostOfGoodsSold`	$61.00K	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$21.87M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$73.75M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$26.86M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$50.77M	USD	2 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$41.67M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$14.96M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$26.92M	USD	2 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$69.72M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$63.60M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$77.69M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$143.53M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$41.83M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-41.83M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-137.20M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-62.69M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-57.27M	USD	1 Quarter
Gain on sale/disposal of assets	`NonoperatingGainLossOnDispositionOfAssets`	$2.00K	USD	2 Qtrs
Gain on sale/disposal of assets	`NonoperatingGainLossOnDispositionOfAssets`	$17.00K	USD	2 Qtrs
Gain on sale/disposal of assets	`NonoperatingGainLossOnDispositionOfAssets`	$14.00K	USD	1 Quarter
Gain on sale/disposal of assets	`NonoperatingGainLossOnDispositionOfAssets`	$2.00K	USD	1 Quarter
Deferred gain on real estate	`DeferredGainOnSaleOfRealEstate`	$854.00K	USD	1 Quarter
Deferred gain on real estate	`DeferredGainOnSaleOfRealEstate`	$1.76M	USD	2 Qtrs
Deferred gain on real estate	`DeferredGainOnSaleOfRealEstate`	$1.71M	USD	2 Qtrs
Deferred gain on real estate	`DeferredGainOnSaleOfRealEstate`	$879.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.77M	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	$4.77M	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Investment income, net	`InvestmentIncomeNet`	$1.42M	USD	2 Qtrs
Investment income, net	`InvestmentIncomeNet`	$1.17M	USD	1 Quarter
Investment income, net	`InvestmentIncomeNet`	$680.00K	USD	1 Quarter
Investment income, net	`InvestmentIncomeNet`	$1.90M	USD	2 Qtrs
Total other (expense) income	`NonoperatingIncomeExpense`	$-1.11M	USD	2 Qtrs
Total other (expense) income	`NonoperatingIncomeExpense`	$-2.72M	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$1.55M	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$3.14M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-40.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-59.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-138.31M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-59.54M	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.58	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.68	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.69	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.46	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	88.06M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	87.67M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	86.69M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	86.59M	shares	2 Qtrs
Net loss	`NetIncomeLoss`	$-40.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-59.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-138.31M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-59.54M	USD	2 Qtrs
Net unrealized (losses)/gains on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$938.00K	USD	2 Qtrs
Net unrealized (losses)/gains on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$149.00K	USD	1 Quarter
Net unrealized (losses)/gains on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-478.00K	USD	1 Quarter
Net unrealized (losses)/gains on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-395.00K	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-60.46M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-138.71M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-58.61M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-40.13M	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-40.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-59.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-138.31M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-59.54M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$600.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.08M	USD	2 Qtrs
Gain on sale of assets	`GainsLossesOnSalesOfAssets`	$1.72M	USD	2 Qtrs
Gain on sale of assets	`GainsLossesOnSalesOfAssets`	$1.76M	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredLiabilities`	$-136.00K	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredLiabilities`	$-239.00K	USD	2 Qtrs
Cease-use expense	`IncreaseDecreaseInCeaseUseExpense`	$-544.00K	USD	2 Qtrs
Cease-use expense	`IncreaseDecreaseInCeaseUseExpense`	$-584.00K	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$207.00K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$2.65M	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Amortization of premiums on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-2.44M	USD	2 Qtrs
Amortization of premiums on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-596.00K	USD	2 Qtrs
Non-cash share-based compensation expense	`ShareBasedCompensation`	$18.87M	USD	2 Qtrs
Non-cash share-based compensation expense	`ShareBasedCompensation`	$14.19M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.07M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$128.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-315.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.44M	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.18M	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$627.00K	USD	2 Qtrs
Cease-use liability	`IncreaseDecreaseInCeaseUseLiability`	$-181.00K	USD	2 Qtrs
Cease-use liability	`IncreaseDecreaseInCeaseUseLiability`	$-128.00K	USD	2 Qtrs
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-108.00K	USD	2 Qtrs
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-43.55M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-125.60M	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$365.03M	USD	2 Qtrs
Purchases of investments	`PaymentsToAcquireInvestments`	$169.49M	USD	2 Qtrs
Sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$210.32M	USD	2 Qtrs
Sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$227.15M	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$13.00K	USD	2 Qtrs
Deposits and restricted cash	`IncreaseDecreaseInRestrictedCash`	$-270.00K	USD	2 Qtrs
Deposits and restricted cash	`IncreaseDecreaseInRestrictedCash`	$92.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.98M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.76M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$54.60M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-156.20M	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$998.00K	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.24M	USD	2 Qtrs
Proceeds from issuance of senior convertible notes, net	`ProceedsFromConvertibleDebt`	$502.78M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$508.02M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$998.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.05M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$226.23M	USD	2 Qtrs
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$309.50M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$83.27M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$74.19M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$86.25M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$309.50M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$83.27M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$74.19M	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$86.25M	USD	Point-in-time
Cash paid for interest during the period	`InterestPaid`	-	USD	2 Qtrs
Cash paid for interest during the period	`InterestPaid`	-	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.