AMCON Distributing Company

DIT

DITAMCON Distributing Company US flag

New York Stock Exchange American

62.61

USD

-0.46

- -

61.11MMarket Cap

Income Statement (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Sales/Revenue/Turnover	1,042	1,174	1,211	1,237	1,282	1,295	1,275	1,322	1,392	1,521	1,672	2,011	2,540	2,711	2,817
+ Sales & Services Revenue	1,042	1,174	1,211	1,237	1,282	1,295	1,275	1,322	1,392	1,521	1,672	2,011	2,540	2,711	2,817
- Cost of Revenue	967	1,095	1,134	1,160	1,205	1,220	1,203	1,245	1,308	1,434	1,572	1,883	2,369	2,529	2,628
+ Cost of Goods & Services	967	1,095	1,134	1,160	1,205	1,220	1,203	1,245	1,308	1,434	1,572	1,883	2,369	2,529	2,628
Gross Profit	74	79	77	77	77	75	72	77	84	88	101	128	171	182	188
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	59	66	66	67	65	64	66	69	75	78	83	105	145	164	176
+ Selling, General & Admin	56	63	64	65	63	62	64	67	72	75	80	101	137	155	166
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	2	2	2	2	2	2	2	2	3	3	3	4	8	9	10
Operating Income (Loss)	16	13	11	9	12	11	6	8	9	10	18	23	26	18	13
- Non-Operating (Income) Loss	1	1	1	1	1	1	1	3	4	2	1	1	9	11	11
+ Interest Expense, Net	1	1	1	1	1	1	1	1	2	2	1	2	9	10	10
+ Interest Expense	1	1	1	1	1	1	1	1	2	2	1	2	9	10	10
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	- -	- -	- -	- -	- -	- -	2	3	- -	- -	-1	- -	- -	1
Pretax Income	14	12	10	9	11	10	5	5	5	8	17	21	17	7	2
- Income Tax Expense (Benefit)	6	5	4	4	4	4	2	1	2	2	5	6	6	3	1
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	8	7	6	5	6	6	3	4	3	6	16	17	12	4	1
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	8	7	6	5	6	6	3	4	3	6	16	17	12	4	1
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	8	7	6	5	6	6	3	4	3	6	16	17	12	4	1
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	8	7	6	5	6	6	3	4	3	6	16	17	12	4	1
EBIT	16	13	11	9	12	11	6	8	9	10	18	23	26	18	13
EBITDA	18	16	13	12	14	13	8	10	12	13	21	26	34	27	22
EBITDA Margin (%)	1.71	1.35	1.11	0.95	1.08	1.01	0.65	0.77	0.85	0.83	1.25	1.31	1.32	1.01	0.79
EBITA	16	13	11	9	12	11	6	8	9	10	18	23	26	18	13
Gross Margin (%)	7.12	6.73	6.39	6.19	5.97	5.78	5.68	5.82	6.03	5.77	6.01	6.35	6.73	6.73	6.68
Operating Margin (%)	1.49	1.14	0.91	0.76	0.9	0.84	0.49	0.59	0.66	0.63	1.07	1.12	1.02	0.66	0.45
Profit Margin (%)	0.77	0.63	0.48	0.4	0.5	0.46	0.23	0.27	0.23	0.36	0.93	0.83	0.46	0.16	0.02
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.82	0.51	0.5	0.51	0.5	0.7	0.69	0.71	0.71	0.71	4.06	4.04	4.03	0.7	0.7
Depreciation Expense	2	2	2	2	2	2	2	2	3	3	3	4	8	9	10
Basic Weighted Avg Shares	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Basic EPS, GAAP	8.73	7.71	6.05	5.2	6.64	6.24	2.89	3.65	3.57	6.58	18.82	19.58	13.23	4.83	0.62
Basic EPS from Cont Ops	9.05	8	6.27	5.42	6.85	6.42	2.89	3.65	3.57	6.58	18.82	19.58	13.23	4.83	0.62
Diluted Weighted Avg Shares	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Diluted EPS, GAAP	6.71	6.04	5.01	4.32	5.55	5.44	2.84	3.58	3.5	6.51	18.24	19.06	12.97	4.76	0.62
Diluted EPS from Cont Ops	6.96	6.26	5.2	4.5	5.73	5.59	2.84	3.58	3.5	6.51	18.24	19.06	12.97	4.76	0.62

Balance Sheet (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Total Current Assets	81	80	82	84	97	88	108	116	135	136	137	211	246	229	240
+ Cash, Cash Equivalents & STI	1	- -	- -	- -	- -	1	1	1	- -	1	1	- -	1	1	1
+ Cash & Cash Equivalents	1	- -	- -	- -	- -	1	1	1	- -	1	1	- -	1	1	1
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	33	33	28	33	32	30	31	32	25	34	36	63	73	71	73
+ Accounts Receivable, Net	33	33	28	33	32	30	31	31	25	34	36	62	71	71	73
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	2	1	- -
+ Inventories	38	38	46	44	61	48	73	79	102	99	95	135	159	144	153
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	38	38	46	44	61	48	73	79	102	99	95	135	159	144	153
+ Other ST Assets	8	8	7	7	4	9	4	5	7	2	5	13	14	13	12
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	27	26	25	25	24	23	23	24	23	52	52	78	118	145	152
+ Property, Plant & Equip, Net	14	13	13	14	13	13	13	16	18	36	34	68	104	132	138
+ Property, Plant & Equip	32	33	35	37	37	37	39	42	46	65	65	102	144	179	195
- Accumulated Depreciation	18	20	22	23	25	24	25	27	28	29	31	34	40	48	57
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	7	9	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	7	9	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	13	13	12	11	11	10	10	8	5	9	9	10	14	13	13
+ Total Intangible Assets	12	12	11	11	10	10	10	8	5	5	5	7	11	11	10
+ Goodwill	6	6	6	6	6	6	6	4	4	4	4	5	6	6	6
+ Other Intangible Assets	6	5	5	4	4	4	3	3	- -	- -	- -	2	5	5	4
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	1	1	- -	- -	- -	- -	- -	- -	- -	4	4	3	3	3	3
Total Assets	107	106	106	109	120	111	132	140	158	188	188	289	363	374	391
+ Payables & Accruals	30	29	27	28	28	29	29	33	31	36	41	64	69	81	99
+ Accounts Payable	18	17	16	16	17	18	18	21	19	22	24	40	43	54	70
+ Accrued Taxes	2	2	2	2	- -	- -	1	- -	- -	1	1	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	10	9	9	10	11	10	11	13	12	13	16	24	26	26	29
+ ST Debt	1	1	1	- -	- -	- -	- -	1	1	6	6	8	8	12	13
+ ST Borrowings	1	1	1	- -	- -	- -	- -	1	1	1	1	2	2	5	5
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	6	6	6	6	7	8
+ Other ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	32	30	28	28	28	29	30	34	32	42	47	72	77	93	112
+ LT Debt	27	19	19	19	24	14	32	39	64	79	61	112	170	157	161
+ LT Borrowings	27	19	19	19	24	14	32	39	64	65	49	99	152	138	138
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	14	13	14	17	19	23
+ Other LT Liabilities	7	4	4	4	4	3	2	2	2	3	2	12	13	13	5
+ Accrued Liabilities	3	4	3	3	4	3	2	2	2	2	2	2	5	4	4
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	4	- -	- -	- -	- -	- -	- -	- -	- -	1	1	10	8	8	1
Total Noncurrent Liabilities	34	23	22	22	28	16	34	41	65	81	64	124	183	169	166
Total Liabilities	66	53	51	50	56	45	64	75	97	123	111	196	259	262	278
+ Preferred Equity and Hybrid Capital	- -	4	3	3	3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	10	11	13	14	16	20	21	22	23	24	25	27	31	34	37
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	10	11	13	14	16	20	21	22	23	24	25	27	31	34	37
- Treasury Stock	- -	1	3	6	8	12	14	21	29	31	31	31	31	31	32
+ Retained Earnings	32	38	44	48	54	59	61	64	66	71	84	97	105	109	108
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	42	52	56	58	64	66	68	65	61	65	78	93	104	112	113
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	42	52	56	58	64	66	68	65	61	65	78	93	104	112	113
Total Liabilities & Equity	107	106	106	109	120	111	132	140	158	188	188	289	363	374	391
Shares Outstanding	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	20	18	20	23	26	31
Net Debt	27	20	20	19	24	13	32	40	64	64	49	100	153	142	143
Net Debt to Equity	64.64	38.39	35.3	32.67	38	20.25	46.26	61.4	104.84	99.45	62.81	107.52	147.14	127.42	126.08
Tangible Common Equity Ratio	31.2	39.17	43.66	45.61	46.4	55.25	47.82	42.96	36.54	32.7	39.61	30.33	26.42	27.84	27.04
Current Ratio	2.56	2.66	2.89	3	3.46	3.04	3.66	3.37	4.27	3.25	2.9	2.93	3.21	2.46	2.14
Cash Conversion Cycle	17.92	17.07	17.52	18.13	20.09	19.74	21.78	25.21	27.22	27.5	24.8	25.1	25.83	24.3	21.4

Cash Flow Statement (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

+ Net Income	- -	7	6	5	6	6	3	4	3	6	16	17	12	4	1
+ Depreciation & Amortization	2	2	2	2	2	2	2	2	3	3	3	4	8	9	10
+ Non-Cash Items	11	2	1	1	1	2	1	2	5	1	-1	1	6	3	1
+ Stock-Based Compensation	2	1	1	1	1	1	1	1	1	1	2	3	3	2	3
+ Deferred Income Taxes	2	1	- -	- -	- -	- -	- -	-1	- -	- -	- -	1	3	-1	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	2	3	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	8	- -	- -	- -	- -	- -	- -	- -	1	- -	-3	-3	1	1	-1
+ Chg in Non-Cash Work Cap	3	-2	-3	-1	-13	9	-20	-2	-22	5	3	1	-6	51	7
+ (Inc) Dec in Accts Receiv	4	- -	4	-5	- -	2	-1	-2	7	-10	- -	4	- -	6	-3
+ (Inc) Dec in Inventories	1	- -	-8	3	-17	12	-24	-5	-24	4	4	3	-8	29	-6
+ (Inc) Dec in Prepaid Assets	-3	- -	1	- -	3	-6	4	-1	-2	5	-3	-5	-1	2	1
+ Inc (Dec) in Accts Payable	- -	-2	-1	- -	2	1	- -	5	-3	5	3	3	4	13	14
+ Inc (Dec) in Other	- -	- -	- -	- -	- -	- -	1	- -	- -	2	- -	-4	-1	2	1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	16	10	6	8	-3	18	-14	6	-11	15	21	23	20	68	19
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-2	-1	-2	-3	-1	-2	-3	-3	-4	-3	-2	-15	-12	-20	-9
+ Acq of Fixed Prod Assets	-2	-1	-2	-3	-1	-2	-3	-3	-4	-3	-2	-15	-12	-20	-9
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	-1	-3	-3	-2	-5	-1	-8	-8	-2	- -	- -	- -	- -	-1
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	-1	-3	-3	-2	-5	-1	-8	-8	-2	- -	- -	- -	- -	-1
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-13	- -	- -	-1	- -	- -	- -	- -	- -	-6	- -	- -	-55	-22	-6
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-13	- -	- -	-1	- -	- -	- -	- -	- -	-6	- -	- -	-55	-22	-6
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	-4	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-15	-1	-2	-4	-1	-1	-3	-3	-4	-13	-1	-14	-66	-42	-15
+ Dividends Paid	-1	- -	- -	- -	- -	-1	-1	-1	-1	-1	-3	-3	-4	-1	-1
+ Net Cash From Debt	1	-14	- -	-1	11	1,293	1,330	1,431	1,451	1	-16	-3	54	-42	- -
+ Cash From Debt	2	-6	1	- -	12	2,607	2,624	2,850	2,855	1,515	1,667	2,043	2,519	5,034	2,589
+ Repayments of Debt	-1	-8	-1	-1	- -	-1,314	-1,294	-1,419	-1,404	-1,514	-1,683	-2,046	-2,465	-5,076	-2,588
+ Other Financing Activities	- -	6	-1	-1	-5	-1,304	-1,312	-1,425	-1,428	- -	- -	-2	-3	17	-2
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	- -	-9	-4	-4	4	-17	16	-3	16	-2	-20	-9	47	-26	-4
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	1	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA	18	16	13	12	14	13	8	10	12	13	21	26	34	27	22
EBITDA Margin (%)	1.71	1.35	1.11	0.95	1.08	1.01	0.65	0.77	0.85	0.83	1.25	1.31	1.32	1.01	0.79
Free Cash Flow	14	8	4	5	-4	17	-16	3	-16	12	19	8	8	47	10
Net Cash Paid for Acquisitions	13	- -	- -	1	- -	- -	- -	- -	- -	6	- -	- -	55	22	6
Free Cash Flow to Firm	15	9	4	5	-3	17	-16	4	-15	13	20	10	14	53	13
Free Cash Flow to Equity	15	-2	2	4	8	1,307	1,314	1,433	1,436	13	4	5	62	6	10
Free Cash Flow per Basic Share	15.73	9.14	3.87	5.31	-3.85	18.01	-16.02	2.69	-17.72	14.07	23.5	9.63	9.31	52.8	10.51
Price/Free Cash Flow	2.45	4.48	7.85	5.96	-38.4	3.25	-5.7	6.41	-6.63	1.98	3.77	3.26	3.92	1	2.53
Cash Flow to Net Income	1.98	1.34	0.98	1.54	-0.4	3.07	-4.67	1.63	-3.58	2.74	1.35	1.37	1.7	15.65	32.82
Capital Expenditures	-2	-1	-2	-3	-1	-2	-3	-3	-4	-3	-2	-15	-12	-20	-9