Harte Hanks, Inc.

HHS

HHSHarte Hanks, Inc. US flag

NASDAQ Global Market

2.45

USD

+0.04

- -

18.18MMarket 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	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Sales/Revenue/Turnover	614	581	560	499	444	404	384	285	218	177	195	206	191	185	160
+ Sales & Services Revenue	614	581	560	499	444	404	384	285	218	177	195	206	191	185	160
- Cost of Revenue	192	172	162	165	142	117	109	100	76	49	50	62	60	57	50
+ Cost of Goods & Services	192	172	162	165	142	117	109	100	76	49	50	62	60	57	50
Gross Profit	423	409	398	334	302	287	275	184	142	128	144	144	132	129	110
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	350	346	353	309	290	302	281	206	151	129	130	129	123	121	108
+ Selling, General & Admin	335	330	337	296	278	290	271	198	146	125	128	127	119	117	103
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	15	16	16	13	12	12	11	7	5	4	3	3	4	4	4
Operating Income (Loss)	72	63	45	25	12	-15	-6	-21	-10	-1	14	15	9	8	2
- Non-Operating (Income) Loss	4	6	6	4	230	54	45	-21	15	17	-2	-4	11	46	3
+ Interest Expense, Net	3	3	- -	- -	- -	- -	- -	- -	- -	1	1	- -	- -	- -	- -
+ Interest Expense	3	4	- -	- -	- -	- -	- -	- -	- -	1	1	- -	- -	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	1	3	6	4	230	54	45	-21	15	16	-3	-5	11	46	3
Pretax Income	69	56	40	21	-218	-69	-52	-1	-25	-18	16	19	-2	-38	-1
- Income Tax Expense (Benefit)	26	21	15	8	-37	21	-10	-18	2	-17	1	-17	- -	-8	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	42	35	24	14	-181	-90	-42	18	-26	-2	15	37	-2	-30	-1
- Net Extraordinary Losses (Gains)	-2	119	11	-10	-10	41	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	2	-119	-11	10	10	-41	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-4	237	22	-20	-20	82	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	44	-83	13	24	-171	-131	-42	18	-26	-2	15	37	-2	-30	-1
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	44	-83	13	24	-171	-131	-42	18	-26	-2	15	37	-2	-30	-1
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	44	-83	13	24	-171	-131	-42	17	-27	-2	14	37	-2	-30	-1
EBIT	72	63	45	25	12	-15	-6	-21	-10	-1	14	15	9	8	2
EBITDA	88	79	61	38	24	-3	4	-14	-4	2	17	18	13	12	7
EBITDA Margin (%)	14.28	13.52	10.93	7.64	5.49	-0.7	1.08	-4.81	-2.05	1.36	8.51	8.65	6.94	6.5	4.16
EBITA	72	63	45	25	12	-15	-6	-21	-10	-1	14	15	9	8	2
Gross Margin (%)	68.8	70.38	71.12	66.9	68.05	71.04	71.58	64.78	65.12	72.14	74.17	69.98	68.89	69.42	68.73
Operating Margin (%)	11.76	10.78	8.11	5.06	2.7	-3.75	-1.66	-7.43	-4.51	-0.68	7.19	7.32	4.72	4.14	1.36
Profit Margin (%)	7.2	-14.34	2.39	4.8	-38.48	-32.38	-10.9	6.17	-12.07	-0.96	7.69	17.83	-0.82	-16.36	-0.51
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	3.22	4.29	2.58	3.44	3.45	0.86	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	15	16	16	13	12	12	11	7	5	4	3	3	4	4	4
Basic Weighted Avg Shares	6	6	6	6	6	6	6	6	6	6	7	7	7	7	7
Basic EPS, GAAP	7	-13.25	2.14	3.84	-27.73	-21.3	-6.76	2.74	-4.26	-0.34	2.13	4.97	-0.21	-4.15	-0.11
Basic EPS from Cont Ops	6.66	5.63	3.91	2.2	-29.37	-14.6	-6.76	2.81	-4.18	-0.26	2.2	4.97	-0.21	-4.15	-0.11
Diluted Weighted Avg Shares	6	6	6	6	6	6	6	6	6	6	7	7	7	7	7
Diluted EPS, GAAP	6.95	-13.25	2.13	3.83	-27.73	-21.3	-6.76	2.73	-4.26	-0.34	2.01	4.97	-0.21	-4.15	-0.11
Diluted EPS from Cont Ops	6.62	5.63	3.89	2.2	-29.37	-14.6	-6.76	2.8	-4.18	-0.26	2.08	4.97	-0.21	-4.15	-0.11

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	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Current Assets	272	205	239	201	307	149	103	105	79	86	75	66	65	54	46
+ Cash, Cash Equivalents & STI	87	49	89	57	17	46	8	21	28	29	12	10	18	10	6
+ Cash & Cash Equivalents	87	49	89	57	17	46	8	21	28	29	12	10	18	10	6
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	154	128	120	125	104	89	81	57	40	42	57	52	44	41	36
+ Accounts Receivable, Net	154	128	120	125	104	89	81	54	39	36	41	40	34	32	28
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	2	1	6	16	12	10	9	8
+ Inventories	6	1	1	1	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	6	1	1	1	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	25	27	29	18	186	14	13	27	11	15	6	4	3	3	4
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	661	501	446	443	107	64	28	20	31	33	32	54	58	48	46
+ Property, Plant & Equip, Net	69	44	41	37	28	24	22	14	27	31	30	30	34	31	28
+ Property, Plant & Equip	292	211	211	211	173	165	159	147	152	100	82	74	71	69	63
- Accumulated Depreciation	223	167	170	174	145	141	137	134	125	70	53	44	37	38	35
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	592	457	406	406	79	40	6	7	4	3	3	24	23	17	17
+ Total Intangible Assets	571	403	400	400	74	38	3	- -	- -	- -	- -	6	5	1	1
+ Goodwill	566	398	398	398	70	35	- -	- -	- -	- -	- -	2	2	- -	- -
+ Other Intangible Assets	6	5	2	2	4	3	3	- -	- -	- -	- -	4	3	1	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	21	54	5	5	5	2	3	7	4	3	3	18	19	16	17
Total Assets	933	706	686	644	414	213	131	125	110	119	108	120	123	102	92
+ Payables & Accruals	72	53	56	49	45	86	47	38	21	22	23	29	29	25	22
+ Accounts Payable	46	38	37	36	37	46	36	31	17	16	16	22	23	13	13
+ Accrued Taxes	5	2	3	2	1	30	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	22	13	16	10	7	10	11	7	4	5	7	7	6	12	9
+ ST Debt	69	12	15	18	3	- -	- -	- -	8	12	7	6	5	4	4
+ ST Borrowings	69	12	15	18	3	- -	- -	- -	- -	5	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	8	7	7	6	5	4	4
+ Other ST Liabilities	62	65	69	57	50	19	21	16	17	14	13	9	15	6	5
+ Deferred Revenue	52	56	60	51	19	14	17	13	14	11	10	6	5	3	2
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	10	8	9	6	31	4	4	4	3	3	2	3	9	3	3
Total Current Liabilities	204	130	141	124	98	105	67	54	46	47	42	44	48	35	30
+ LT Debt	110	98	83	64	74	- -	- -	14	32	43	24	17	24	21	19
+ LT Borrowings	110	98	83	64	74	- -	- -	14	19	22	5	- -	- -	- -	- -
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	13	21	19	17	24	21	19
+ Other LT Liabilities	172	150	113	129	102	106	98	66	73	72	56	41	31	24	22
+ Accrued Liabilities	92	54	- -	- -	21	11	1	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	39	65	55	61	59	62	70	67	52	38	29	23	21
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	80	96	74	64	26	34	38	4	3	5	4	3	2	2	1
Total Noncurrent Liabilities	283	248	196	193	176	106	98	80	105	116	80	58	55	45	41
Total Liabilities	486	378	336	318	274	211	165	135	150	163	123	101	103	80	71
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	10	10	10	10	- -	- -	- -	- -
+ Share Capital & APIC	460	460	464	466	473	471	469	466	459	395	303	231	170	136	122
+ Common Stock	118	119	119	120	120	12	12	12	12	12	12	12	12	12	12
+ Additional Paid in Capital	341	342	345	346	353	459	457	454	447	383	291	218	158	124	110
- Treasury Stock	1,244	1,248	1,250	1,258	1,263	1,259	1,254	1,251	1,244	1,179	1,085	1,010	951	916	900
+ Retained Earnings	1,276	1,166	1,163	1,166	974	837	795	813	798	796	811	846	845	815	814
+ Other Equity	-45	-50	-28	-47	-44	-46	-44	-46	-63	-66	-53	-48	-44	-14	-15
Equity Before Minority Interest	446	328	349	327	140	3	-35	-9	-40	-43	-15	19	20	22	21
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	446	328	349	327	140	3	-35	-9	-40	-43	-15	19	20	22	21
Total Liabilities & Equity	933	706	686	644	414	213	131	125	110	119	108	120	123	102	92
Shares Outstanding	6	6	6	6	6	6	6	6	6	7	7	7	7	7	7
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	21	28	26	22	29	25	22
Net Debt	93	61	9	26	61	-46	-8	-7	-9	-2	-7	-10	-18	-10	-6
Net Debt to Equity	20.76	18.55	2.65	7.94	43.15	-1,732.12	24.24	70.63	23.53	5.32	46.1	-55.1	-92.48	-45.8	-27.22
Tangible Common Equity Ratio	-34.54	-24.86	-18.04	-30.26	19.52	-20.02	-29.03	-15.33	-45.08	-44.46	-22.91	11.28	12.8	20.64	21.79
Current Ratio	1.33	1.58	1.7	1.62	3.13	1.43	1.53	1.94	1.74	1.83	1.78	1.52	1.36	1.53	1.54
Cash Conversion Cycle	5.45	4.12	-1.09	11.58	2.76	-38.48	-53.68	-33.61	-35.37	-44.89	-45.39	-42.3	-69.29	-52.95	-28.98

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	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

+ Net Income	42	35	24	14	-181	-90	-42	18	-26	-2	15	37	-2	-30	-1
+ Depreciation & Amortization	15	16	16	13	12	12	11	7	5	4	3	3	4	4	4
+ Non-Cash Items	10	4	8	7	186	77	31	-28	10	-3	-8	-18	1	27	-3
+ Stock-Based Compensation	4	3	6	4	5	3	3	-1	1	1	1	2	1	2	- -
+ Deferred Income Taxes	7	1	2	6	-42	26	-11	-2	1	- -	- -	-20	-1	-9	-1
+ Asset Impairment Charge	- -	- -	3	- -	210	39	35	5	- -	- -	- -	- -	- -	3	- -
+ Other Non-Cash Adj	- -	- -	-2	-3	12	10	5	-31	8	-4	-10	-1	1	31	-2
+ Chg in Non-Cash Work Cap	3	1	-4	-21	- -	50	-31	-6	23	-6	-11	8	7	-4	-2
+ (Inc) Dec in Accts Receiv	-6	12	8	-9	7	15	7	7	17	-1	-9	4	6	2	5
+ (Inc) Dec in Inventories	- -	- -	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	-1	-5	-3	5	1	3	1	-17	20	-3	1	3	3	1	-2
+ Inc (Dec) in Accts Payable	15	-6	8	-17	-9	32	-39	3	-14	-2	-2	6	-1	-5	-4
+ Inc (Dec) in Other	-6	- -	-17	- -	- -	- -	- -	- -	- -	- -	-1	-5	-1	-2	-2
+ Net Cash From Disc Ops	-8	20	15	13	16	-35	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	62	76	60	26	33	15	-31	-9	12	-8	-2	29	10	-3	-2
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	3	1	4	- -	- -	1	- -	- -	- -	2	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	3	1	4	- -	- -	1	- -	- -	- -	2	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-22	-13	-16	-9	-8	-7	-6	-4	-3	-3	-3	-6	-3	-4	-3
+ Acq of Fixed Prod Assets	-22	-13	-16	-9	-8	-7	-6	-4	-3	-3	-3	-6	-3	-4	-3
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-8	-4	-1	-8	-5	- -	- -	- -	- -	- -	- -	- -	-3	- -	- -
+ Increase in Capital Stock	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-8	-4	-2	-8	-6	- -	- -	- -	- -	- -	- -	- -	-3	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	-25	-4	- -	4	- -	- -	- -	-6	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	5	- -	- -	4	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	-30	-4	- -	- -	- -	- -	- -	-6	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	22	-2	-4	109	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	22	-2	-3	109	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-19	-13	10	-11	-36	100	-6	- -	-3	-1	-3	-11	-2	-4	-3
+ Dividends Paid	-20	-27	-16	-21	-21	-5	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	-14	-69	-12	-15	-5	-77	-1	14	4	8	-12	-5	- -	- -	- -
+ Cash From Debt	122	- -	- -	- -	13	276	30	23	4	10	5	- -	- -	- -	- -
+ Repayments of Debt	-136	-69	-12	-15	-18	-354	-31	-10	-1	-2	-17	-5	- -	- -	- -
+ Other Financing Activities	-1	- -	-1	- -	- -	-2	-1	9	-1	-1	-1	-10	- -	- -	1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-42	-100	-30	-45	-32	-85	-1	23	3	7	-13	-16	-3	- -	1
Effect of Foreign Exchange Rates	- -	- -	-1	-2	-2	- -	- -	-1	1	1	- -	-5	3	-2	- -
Net Changes in Cash	1	-37	40	-30	-35	29	-38	13	13	-1	-18	1	5	-7	-4
EBITDA	88	79	61	38	24	-3	4	-14	-4	2	17	18	13	12	7
EBITDA Margin (%)	14.28	13.52	10.93	7.64	5.49	-0.7	1.08	-4.81	-2.05	1.36	8.51	8.65	6.94	6.5	4.16
Free Cash Flow	40	63	44	17	25	8	-36	-13	9	-11	-5	23	8	-7	-4
Net Cash Paid for Acquisitions	- -	- -	- -	- -	25	4	- -	-4	- -	- -	- -	6	- -	- -	- -
Free Cash Flow to Firm	42	65	44	17	- -	- -	- -	- -	- -	- -	-4	- -	- -	- -	- -
Free Cash Flow to Equity	29	-6	35	2	20	-69	-37	10	13	-1	-17	8	8	-7	-5
Free Cash Flow per Basic Share	6.26	10.01	6.99	2.71	4.1	1.28	-5.89	-2.15	1.46	-1.63	-0.71	3.11	1.05	-0.92	-0.61
Price/Free Cash Flow	6.86	4.13	6.51	13.8	4.84	4.36	-2.34	-3.05	1.5	-3.46	42.7	2.5	3.81	49.48	21.77
Cash Flow to Net Income	1.4	-0.92	4.46	1.08	-0.19	-0.11	0.74	-0.52	-0.46	4.63	-0.12	0.78	-6.67	0.1	2.14
Capital Expenditures	-22	-13	-16	-9	-8	-7	-6	-4	-3	-3	-3	-6	-3	-4	-3