REYN
Reynolds Consumer Products Inc.
Price Chart
Latest Quote
$23.87
| Previous Close | $23.33 |
| Open | $23.39 |
| Day High | $23.92 |
| Day Low | $23.37 |
| Volume | 1,512,124 |
Stock Information
| Quarterly Dividend / Yield | $0.92 / 3.86% |
| Shares Outstanding | 210.77M |
| Quarterly Dividend Yield | 3.86% |
| Quarterly Dividend | $0.92 |
| Total Debt | $1.63B |
| Cash Equivalents | $73.00M |
| Revenue | $3.78B |
| Net Income | $329.00M |
| Sector | Consumer Cyclical |
| Industry | Packaging & Containers |
| Market Cap | $5.03B |
| P/E Ratio | 15.30 |
| EPS (TTM) | $1.56 |
| Exchange | NMS |
đ Comprehensive Analysis
Company Data
| Enterprise Value | $6.59B |
| Sales | $3.78B |
| Income | $329.00M |
| Book/sh | $10.75 |
| Cash/sh | $0.35 |
| Employees | 6K |
Financial Ratios
| Quick Ratio | 0.73 |
| Current Ratio | 1.79 |
| Debt/Eq | 72.10 |
| EPS Growth TTM | 90.30% |
Returns & Margins
| ROA | 6.97% |
| ROE | 15.00% |
| Gross Margin | 24.66% |
| Operating Margin | 11.17% |
| Profit Margin | 8.70% |
Ownership
| Insider Ownership | 74.10% |
| Institutional Ownership | 30.51% |
| Insider & Institutional transactions data not available | |
Valuation Ratios
| Forward P/E | 14.12 |
| P/S | 1.33 |
| P/B | 2.22 |
Analyst Data
| Recommendation | none |
| Target Price | $25.14 |
Technical Indicators
| SMA20 | $22.49 |
| SMA50 | $21.74 |
| SMA200 | $22.63 |
| RSI | 79.41 |
| ATR | 0.5254 |
| Shares Float | 54.18M |
| Short Float | 15.79% |
| Short Ratio | 6.71 |
| Volatility | 0.57 |
| Rel Volume | 1.49 |
Performance History
| Week | +1.92% |
| Month | +12.07% |
| Quarter | +15.60% |
| 6 Months | +1.36% |
| YTD | +5.67% |
| Year | +17.63% |
| 3 Years | -5.37% |
| 5 Years | -7.59% |
| 10 Years | +2.83% |
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Recent Price History
| Date | Close | Volume |
|---|---|---|
| 2026-06-18 | $23.87 | 1,512,100 |
| 2026-06-17 | $23.33 | 1,172,200 |
| 2026-06-16 | $23.62 | 954,900 |
| 2026-06-15 | $23.43 | 770,100 |
| 2026-06-12 | $23.53 | 725,300 |
| 2026-06-11 | $23.42 | 877,400 |
| 2026-06-10 | $23.45 | 1,079,100 |
| 2026-06-09 | $23.03 | 1,084,100 |
| 2026-06-08 | $22.45 | 976,100 |
| 2026-06-05 | $22.46 | 916,200 |
| 2026-06-04 | $21.68 | 940,500 |
| 2026-06-03 | $21.54 | 1,018,800 |
| 2026-06-02 | $21.57 | 864,900 |
| 2026-06-01 | $21.36 | 1,021,900 |
| 2026-05-29 | $21.67 | 1,215,500 |
| 2026-05-28 | $22.10 | 1,115,900 |
| 2026-05-27 | $22.05 | 926,000 |
| 2026-05-26 | $21.81 | 1,044,500 |
| 2026-05-22 | $21.79 | 1,115,200 |
| 2026-05-21 | $21.62 | 1,004,100 |
| 2026-05-20 | $21.74 | 1,098,500 |
| 2026-05-19 | $21.30 | 939,300 |
About Reynolds Consumer Products Inc.
Reynolds Consumer Products Inc. produces and sells products in cooking, serving, cleanup, and storage, and tableware product categories in the United States and internationally. The company operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produces aluminum foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds Kitchens, and EZ Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally. The Hefty Waste & Storage segment offers trash and food storage bags under the Hefty Ultra Strong and Hefty Strong brands; and food storage bags under the Hefty brands. It also provides a suite of products, including compostable bags, bags made from recycled materials. The Hefty Tableware segment offers disposable and compostable plates, bowls, platters, containers, cups, and cutlery under the Hefty brand, as well as dishes and party cups. The Presto Products segment primarily sells store brand products in food storage bags, trash bags, and plastic wrap categories. It offers both branded and store brand products to grocery stores, mass merchants, warehouse clubs, discount chains, dollar stores, drug stores, home improvement stores, military outlets, and eCommerce retailers. Reynolds Consumer Products Inc. was founded in 1947 and is headquartered in Lake Forest, Illinois. Reynolds Consumer Products Inc. is a subsidiary of Packaging Finance Limited.
đ° Latest News
Wall Street CIO: The AI Trade is âTechnically Unsustainable.â Buy These Two Industries Instead.
24/7 Wall St. âĸ 2026-06-10T22:28:51Z3 Reasons to Avoid REYN and 1 Stock to Buy Instead
StockStory âĸ 2026-06-10T09:45:28ZShould Reynoldsâ First-Quarter Earnings Beat and Everyday Demand Momentum Require Action From Reynolds (REYN) Investors?
Simply Wall St. âĸ 2026-05-28T11:05:37ZHousehold Products Stocks Q1 Recap: Benchmarking Reynolds (NASDAQ:REYN)
StockStory âĸ 2026-05-25T18:51:51Z3 Small-Cap Stocks We Steer Clear Of
StockStory âĸ 2026-05-22T18:36:55Z5 Insightful Analyst Questions From Reynoldsâs Q1 Earnings Call
StockStory âĸ 2026-05-16T14:04:55Z3 Stocks Under $50 We Find Risky
StockStory âĸ 2026-05-13T15:08:55ZDividend Investors: Don't Be Too Quick To Buy Reynolds Consumer Products Inc. (NASDAQ:REYN) For Its Upcoming Dividend
Simply Wall St. âĸ 2026-05-11T12:12:02ZReynolds Consumer Products Inc. Q1 2026 Earnings Call Summary
Moby âĸ 2026-05-06T16:45:56ZReynolds Consumer Products Q1 Earnings Call Highlights
MarketBeat âĸ 2026-05-06T13:07:53ZIncome Statement (Annual)
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Revenue | ||||
| Reconciled Cost Of Revenue | $2,807,000,000 | $2,717,000,000 | $2,814,000,000 | $3,041,000,000 |
| Cost Of Revenue | $2,807,000,000 | $2,717,000,000 | $2,814,000,000 | $3,041,000,000 |
| Total Revenue | $3,721,000,000 | $3,695,000,000 | $3,756,000,000 | $3,817,000,000 |
| Operating Revenue | $3,721,000,000 | $3,695,000,000 | $3,756,000,000 | $3,817,000,000 |
| Expenses | ||||
| Interest Expense | $102,000,000 | $127,000,000 | $144,000,000 | $78,000,000 |
| Total Expenses | $3,189,000,000 | $3,146,000,000 | $3,244,000,000 | $3,381,000,000 |
| Other Income Expense | $-53,000,000 | - | - | $-22,000,000 |
| Net Non Operating Interest Income Expense | $-86,000,000 | $-98,000,000 | $-119,000,000 | $-76,000,000 |
| Total Other Finance Cost | $2,000,000 | $4,000,000 | $4,000,000 | $4,000,000 |
| Interest Expense Non Operating | $102,000,000 | $127,000,000 | $144,000,000 | $78,000,000 |
| Operating Expense | $382,000,000 | $429,000,000 | $430,000,000 | $340,000,000 |
| Other Non Operating Income Expenses | - | - | - | $-10,000,000 |
| Other Operating Expenses | - | - | - | $10,000,000 |
| General And Administrative Expense | - | - | - | $340,000,000 |
| Income & Earnings | ||||
| Net Income From Continuing Operation Net Minority Interest | $301,000,000 | $352,000,000 | $298,000,000 | $258,000,000 |
| Net Interest Income | $-86,000,000 | $-98,000,000 | $-119,000,000 | $-76,000,000 |
| Interest Income | $18,000,000 | $33,000,000 | $29,000,000 | $6,000,000 |
| Normalized Income | $341,592,875 | $352,000,000 | $298,000,000 | $267,159,763 |
| Net Income From Continuing And Discontinued Operation | $301,000,000 | $352,000,000 | $298,000,000 | $258,000,000 |
| Total Operating Income As Reported | $492,000,000 | $549,000,000 | $512,000,000 | $414,000,000 |
| Net Income Common Stockholders | $301,000,000 | $352,000,000 | $298,000,000 | $258,000,000 |
| Net Income | $301,000,000 | $352,000,000 | $298,000,000 | $258,000,000 |
| Net Income Including Noncontrolling Interests | $301,000,000 | $352,000,000 | $298,000,000 | $258,000,000 |
| Net Income Continuous Operations | $301,000,000 | $352,000,000 | $298,000,000 | $258,000,000 |
| Pretax Income | $393,000,000 | $451,000,000 | $393,000,000 | $338,000,000 |
| Special Income Charges | $-53,000,000 | $0 | $0 | $-12,000,000 |
| Interest Income Non Operating | $18,000,000 | $33,000,000 | $29,000,000 | $6,000,000 |
| Operating Income | $532,000,000 | $549,000,000 | $512,000,000 | $436,000,000 |
| Gross Profit | $914,000,000 | $978,000,000 | $942,000,000 | $776,000,000 |
| Per Share | ||||
| Diluted EPS | $1.43 | $1.67 | $1.42 | $1.23 |
| Basic EPS | $1.43 | $1.68 | $1.42 | $1.23 |
| Other | ||||
| Tax Effect Of Unusual Items | $-12,407,125 | $0 | $0 | $-2,840,237 |
| Tax Rate For Calcs | $0 | $0 | $0 | $0 |
| Normalized EBITDA (Bullshit earnings) | $683,000,000 | $707,000,000 | $661,000,000 | $545,000,000 |
| Total Unusual Items | $-53,000,000 | $0 | $0 | $-12,000,000 |
| Total Unusual Items Excluding Goodwill | $-53,000,000 | $0 | $0 | $-12,000,000 |
| Reconciled Depreciation | $135,000,000 | $129,000,000 | $124,000,000 | $117,000,000 |
| EBITDA (Bullshit earnings) | $630,000,000 | $707,000,000 | $661,000,000 | $533,000,000 |
| EBIT | $495,000,000 | $578,000,000 | $537,000,000 | $416,000,000 |
| Diluted Average Shares | $210,400,000 | $210,400,000 | $210,000,000 | $209,900,000 |
| Basic Average Shares | $210,300,000 | $210,100,000 | $210,000,000 | $209,800,000 |
| Diluted NI Availto Com Stockholders | $301,000,000 | $352,000,000 | $298,000,000 | $258,000,000 |
| Tax Provision | $92,000,000 | $99,000,000 | $95,000,000 | $80,000,000 |
| Other Special Charges | $53,000,000 | - | - | $12,000,000 |
| Selling General And Administration | $382,000,000 | $429,000,000 | $430,000,000 | $340,000,000 |
| Other Gand A | - | - | - | $340,000,000 |
Balance Sheet (Annual)
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Assets | ||||
| Net Tangible Assets | $-585,000,000 | $-725,000,000 | $-913,000,000 | $-1,042,000,000 |
| Total Assets | $4,936,000,000 | $4,873,000,000 | $4,780,000,000 | $4,929,000,000 |
| Total Non Current Assets | $3,820,000,000 | $3,772,000,000 | $3,739,000,000 | $3,758,000,000 |
| Other Non Current Assets | $61,000,000 | $57,000,000 | $55,000,000 | $61,000,000 |
| Goodwill And Other Intangible Assets | $2,838,000,000 | $2,867,000,000 | $2,896,000,000 | $2,910,000,000 |
| Other Intangible Assets | $943,000,000 | $972,000,000 | $1,001,000,000 | $1,031,000,000 |
| Current Assets | $1,116,000,000 | $1,101,000,000 | $1,041,000,000 | $1,171,000,000 |
| Other Current Assets | $20,000,000 | $47,000,000 | $41,000,000 | $41,000,000 |
| Inventory | $584,000,000 | $567,000,000 | $524,000,000 | $722,000,000 |
| Receivables | $365,000,000 | $350,000,000 | $361,000,000 | $370,000,000 |
| Other Receivables | $10,000,000 | $7,000,000 | $7,000,000 | $15,000,000 |
| Accounts Receivable | $355,000,000 | $337,000,000 | $347,000,000 | $348,000,000 |
| Cash Cash Equivalents And Short Term Investments | $147,000,000 | $137,000,000 | $115,000,000 | $38,000,000 |
| Cash And Cash Equivalents | $147,000,000 | $137,000,000 | $115,000,000 | $38,000,000 |
| Debt | ||||
| Net Debt | $1,433,000,000 | $1,549,000,000 | $1,717,000,000 | $2,053,000,000 |
| Total Debt | $1,684,000,000 | $1,779,000,000 | $1,890,000,000 | $2,158,000,000 |
| Long Term Debt And Capital Lease Obligation | $1,661,000,000 | $1,759,000,000 | $1,874,000,000 | $2,119,000,000 |
| Long Term Debt | $1,580,000,000 | $1,686,000,000 | $1,832,000,000 | $2,066,000,000 |
| Current Debt And Capital Lease Obligation | $23,000,000 | $20,000,000 | $16,000,000 | $39,000,000 |
| Current Debt | - | - | - | $25,000,000 |
| Other Current Borrowings | - | - | - | $25,000,000 |
| Liabilities | ||||
| Total Liabilities Net Minority Interest | $2,683,000,000 | $2,731,000,000 | $2,797,000,000 | $3,061,000,000 |
| Total Non Current Liabilities Net Minority Interest | $2,106,000,000 | $2,192,000,000 | $2,319,000,000 | $2,565,000,000 |
| Other Non Current Liabilities | $82,000,000 | $77,000,000 | $72,000,000 | $47,000,000 |
| Non Current Deferred Liabilities | $350,000,000 | $342,000,000 | $357,000,000 | $365,000,000 |
| Non Current Deferred Taxes Liabilities | $350,000,000 | $342,000,000 | $357,000,000 | $365,000,000 |
| Current Liabilities | $577,000,000 | $539,000,000 | $478,000,000 | $496,000,000 |
| Other Current Liabilities | $61,000,000 | $59,000,000 | $71,000,000 | $72,000,000 |
| Payables And Accrued Expenses | $493,000,000 | $460,000,000 | $391,000,000 | $385,000,000 |
| Payables | $401,000,000 | $358,000,000 | $275,000,000 | $312,000,000 |
| Total Tax Payable | $14,000,000 | $5,000,000 | $22,000,000 | $14,000,000 |
| Income Tax Payable | $14,000,000 | $5,000,000 | $22,000,000 | $14,000,000 |
| Accounts Payable | $387,000,000 | $319,000,000 | $219,000,000 | $252,000,000 |
| Equity | ||||
| Common Stock Equity | $2,253,000,000 | $2,142,000,000 | $1,983,000,000 | $1,868,000,000 |
| Total Equity Gross Minority Interest | $2,253,000,000 | $2,142,000,000 | $1,983,000,000 | $1,868,000,000 |
| Stockholders Equity | $2,253,000,000 | $2,142,000,000 | $1,983,000,000 | $1,868,000,000 |
| Gains Losses Not Affecting Retained Earnings | $20,000,000 | $35,000,000 | $50,000,000 | $52,000,000 |
| Other Equity Adjustments | $20,000,000 | $35,000,000 | $50,000,000 | $52,000,000 |
| Retained Earnings | $802,000,000 | $694,000,000 | $537,000,000 | $431,000,000 |
| Other | ||||
| Ordinary Shares Number | $210,329,618 | $210,200,000 | $210,009,231 | $210,000,000 |
| Share Issued | $210,329,618 | $210,200,000 | $210,009,231 | $210,000,000 |
| Tangible Book Value | $-585,000,000 | $-725,000,000 | $-913,000,000 | $-1,042,000,000 |
| Invested Capital | $3,833,000,000 | $3,828,000,000 | $3,815,000,000 | $3,959,000,000 |
| Working Capital | $539,000,000 | $562,000,000 | $563,000,000 | $675,000,000 |
| Capital Lease Obligations | $104,000,000 | $93,000,000 | $58,000,000 | $67,000,000 |
| Total Capitalization | $3,833,000,000 | $3,828,000,000 | $3,815,000,000 | $3,934,000,000 |
| Additional Paid In Capital | $1,431,000,000 | $1,413,000,000 | $1,396,000,000 | $1,385,000,000 |
| Capital Stock | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $0 | $0 | $0 |
| Employee Benefits | $13,000,000 | $14,000,000 | $16,000,000 | $34,000,000 |
| Non Current Pension And Other Postretirement Benefit Plans | $13,000,000 | $14,000,000 | $16,000,000 | $34,000,000 |
| Long Term Capital Lease Obligation | $81,000,000 | $73,000,000 | $42,000,000 | $53,000,000 |
| Current Capital Lease Obligation | $23,000,000 | $20,000,000 | $16,000,000 | $14,000,000 |
| Current Accrued Expenses | $92,000,000 | $102,000,000 | $116,000,000 | $73,000,000 |
| Dueto Related Parties Current | $0 | $34,000,000 | $34,000,000 | $46,000,000 |
| Goodwill | $1,895,000,000 | $1,895,000,000 | $1,895,000,000 | $1,879,000,000 |
| Net PPE | $921,000,000 | $848,000,000 | $788,000,000 | $787,000,000 |
| Accumulated Depreciation | $-1,034,000,000 | $-961,000,000 | $-897,000,000 | $-821,000,000 |
| Gross PPE | $1,955,000,000 | $1,809,000,000 | $1,685,000,000 | $1,608,000,000 |
| Construction In Progress | $123,000,000 | $87,000,000 | $84,000,000 | $94,000,000 |
| Other Properties | $98,000,000 | $90,000,000 | $56,000,000 | $65,000,000 |
| Machinery Furniture Equipment | $1,444,000,000 | $1,355,000,000 | $1,279,000,000 | $1,202,000,000 |
| Buildings And Improvements | $240,000,000 | $230,000,000 | $220,000,000 | $203,000,000 |
| Land And Improvements | $50,000,000 | $47,000,000 | $46,000,000 | $44,000,000 |
| Properties | $0 | $0 | $0 | $0 |
| Finished Goods | $309,000,000 | $318,000,000 | $260,000,000 | $383,000,000 |
| Work In Process | $76,000,000 | $60,000,000 | $60,000,000 | $81,000,000 |
| Raw Materials | $199,000,000 | $189,000,000 | $204,000,000 | $258,000,000 |
| Duefrom Related Parties Current | $0 | $6,000,000 | $7,000,000 | $7,000,000 |
Cash Flow Statement (Annual)
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Free Cash Flow | ||||
| Free Cash Flow | $316,000,000 | $369,000,000 | $540,000,000 | $91,000,000 |
| Operating Activities | ||||
| Operating Cash Flow | $477,000,000 | $489,000,000 | $644,000,000 | $219,000,000 |
| Cash Flow From Continuing Operating Activities | $477,000,000 | $489,000,000 | $644,000,000 | $219,000,000 |
| Investing Activities | ||||
| Capital Expenditure | $-161,000,000 | $-120,000,000 | $-104,000,000 | $-128,000,000 |
| Investing Cash Flow | $-161,000,000 | $-120,000,000 | $-110,000,000 | $-128,000,000 |
| Cash Flow From Continuing Investing Activities | $-161,000,000 | $-120,000,000 | $-110,000,000 | $-128,000,000 |
| Financing Activities | ||||
| Financing Cash Flow | $-306,000,000 | $-346,000,000 | $-457,000,000 | $-217,000,000 |
| Cash Flow From Continuing Financing Activities | $-306,000,000 | $-346,000,000 | $-457,000,000 | $-217,000,000 |
| Net Other Financing Charges | $-6,000,000 | $-4,000,000 | $-3,000,000 | - |
| Cash Dividends Paid | $-192,000,000 | $-192,000,000 | $-192,000,000 | $-192,000,000 |
| Common Stock Dividend Paid | $-192,000,000 | $-192,000,000 | $-192,000,000 | $-192,000,000 |
| Issuance Of Capital Stock | - | - | - | $0 |
| Net Common Stock Issuance | - | - | - | $0 |
| Common Stock Issuance | - | - | - | $0 |
| Other | ||||
| Repayment Of Debt | $-851,000,000 | $-150,000,000 | $-262,000,000 | $-25,000,000 |
| Issuance Of Debt | $743,000,000 | $0 | $0 | $0 |
| Interest Paid Supplemental Data | $82,000,000 | $98,000,000 | $114,000,000 | $68,000,000 |
| Income Tax Paid Supplemental Data | $67,000,000 | $125,000,000 | $90,000,000 | $64,000,000 |
| End Cash Position | $147,000,000 | $137,000,000 | $115,000,000 | $38,000,000 |
| Beginning Cash Position | $137,000,000 | $115,000,000 | $38,000,000 | $164,000,000 |
| Effect Of Exchange Rate Changes | $0 | $-1,000,000 | $0 | $0 |
| Changes In Cash | $10,000,000 | $23,000,000 | $77,000,000 | $-126,000,000 |
| Net Issuance Payments Of Debt | $-108,000,000 | $-150,000,000 | $-262,000,000 | $-25,000,000 |
| Net Long Term Debt Issuance | $-108,000,000 | $-150,000,000 | $-262,000,000 | $-25,000,000 |
| Long Term Debt Payments | $-851,000,000 | $-150,000,000 | $-262,000,000 | $-25,000,000 |
| Long Term Debt Issuance | $743,000,000 | $0 | $0 | $0 |
| Net Business Purchase And Sale | $0 | $0 | $-6,000,000 | $0 |
| Purchase Of Business | $0 | $0 | $-6,000,000 | $0 |
| Net PPE Purchase And Sale | $-161,000,000 | $-120,000,000 | $-104,000,000 | $-128,000,000 |
| Purchase Of PPE | $-161,000,000 | $-120,000,000 | $-104,000,000 | $-128,000,000 |
| Change In Working Capital | $7,000,000 | $0 | $213,000,000 | $-162,000,000 |
| Change In Other Working Capital | $16,000,000 | $-40,000,000 | $9,000,000 | $13,000,000 |
| Change In Payables And Accrued Expense | $25,000,000 | $69,000,000 | $-1,000,000 | $-5,000,000 |
| Change In Accrued Expense | $-6,000,000 | $-26,000,000 | $42,000,000 | $1,000,000 |
| Change In Payable | $31,000,000 | $95,000,000 | $-43,000,000 | $-6,000,000 |
| Change In Account Payable | $40,000,000 | $95,000,000 | $-31,000,000 | $-14,000,000 |
| Change In Inventory | $-18,000,000 | $-42,000,000 | $198,000,000 | $-139,000,000 |
| Change In Receivables | $-16,000,000 | $13,000,000 | $7,000,000 | $-31,000,000 |
| Changes In Account Receivables | $-11,000,000 | $11,000,000 | $0 | $-31,000,000 |
| Stock Based Compensation | $21,000,000 | $19,000,000 | $14,000,000 | $5,000,000 |
| Deferred Tax | $13,000,000 | $-11,000,000 | $-5,000,000 | $1,000,000 |
| Deferred Income Tax | $13,000,000 | $-11,000,000 | $-5,000,000 | $1,000,000 |
| Depreciation Amortization Depletion | $135,000,000 | $129,000,000 | $124,000,000 | $117,000,000 |
| Depreciation And Amortization | $135,000,000 | $129,000,000 | $124,000,000 | $117,000,000 |
| Net Income From Continuing Operations | $301,000,000 | $352,000,000 | $298,000,000 | $258,000,000 |
| Change In Interest Payable | - | - | - | $0 |
| Change In Tax Payable | - | - | - | $13,000,000 |
| Change In Income Tax Payable | - | - | - | $13,000,000 |