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ESG 2021 Annual Report

By the Numbers

Sustainability Metrics

DISCLAIMER: The measurement and performance results, as well as any goals disclosed in this report, are based on various assumptions made in good faith at the time of publication and are not guarantees or promises of actual future performance and should not be construed as a characterization regarding the materiality or financial impact of that information. For a discussion of information that is material to SJI, please see our Annual Report or our Form 10-K.

 

EEI-AGA ESG/Sustainability Metrics

The Edison Electric Institute/American Gas Association (EEI/AGA) ESG/Sustainability Template is a voluntary reporting template developed to assist gas and electric companies in providing the financial sector with comparable and consistent ESG data and information.

South Jersey Industries

Measurement 2021 2020 2019 2011
UTILITY SYSTEM EMISSIONS (IN METRIC TONS)
Direct CO2-Equivalent Emissions - Scope 1 95,619 101,792 127,761 232,741
Product-Supplied CO2-Equivalent Emissions - Scope 3 (partial) 4,856,846 4,553,554 4,956,154 5,199,791
CO2 1,947 1,788 1,887 3,112
Methane 3,747 4,000 5,035 9,185
Nitrous Oxide 0.0038 0.0030 0.0030 0.0050
 
METHANE EMISSIONS AND MIGRATION FROM DISTRIBUTION MAINS
Number of Gas Distribution Customers 716,765 706,499 694,281 -
Distribution Mains in Service 10,271 10,209 10,081 9,277
Plastic (miles) 7,381 7,135 6,860 4,464
Cathodically Protected Steel - Bare & Coated (miles) 2,619 2,714 2,774 2,956
Unprotected Steel - Bare & Coated (miles) 23 51 89 957
Cast Iron/Wrought Iron - without upgrades (miles) 236 292 338 870
Ductile Iron (miles) 13 17 20 31
Copper 0.4 0.5 0.4 0.5
 
PLAN/COMMITMENT TO REPLACE/UPGRADE REMAINING MILES OF DISTRIBUTION MAINS(#YEARS TO COMPLETE (# Years to Complete)
Unprotected Steel-Bare & Coated 1 SJG;4 ETG 2 SJG; 5 ETG 3 SJG; 6 ETG  
Cast Iron/ Wrought iron 1 SJG;4 ETG 2 SJG; 5 ETG 3 SJG; 6 ETG  
 
DISTRIBUTION CO2E FUGITIVE EMISSIONS
CO2e Fugitive Methane Emissions from Gas Distribution Operations (metric tons) 93,670 100,003 125,872 229,626
CO2e Fugitive Methane Emissions from Infrastructure (Pipeline Main & Services), includes ductile iron for ETG 94,181 100,615 127,058 230,215
Percent Reduction from 2006 to each year 65% 63% 53% 14%
CH4 Fugitive Methane Emissions from Gas Distribution Operations (metric tons) 3,747 4,000 5,035 9,185
CH4 Fugitive Methane Emissions from Gas Distribution Operations (metric tons) 195 208 262 478
Annual Natural Gas Throughput from Gas Distribution Operations in thousands of standard cubic feet (Mscf/year) 98,632,573 94,209,006 102,812,976 96,299,261
Annual Methane Gas Throughput from Gas Distribution Operations in millions of standard cubic feet(MMscf/year) 93,701 89,499 97,672 91,484
Fugitive Methane Emissions Rate (Percent MMscf of Methane Emissions per MMscf of Methane Throughput)% 0.21% 0.23% 0.27% 0.52%
 
BLOWDOWN EMISSIONS REDUCTION INITIATIVE
Natural Gas Volume Released during Blowdown 3,262,044 3,363,374 779,310 -
Natural Gas Volume Saved 4,617,795 5,353,654 1,402,476 -
CO2e Emissions Reduced 2,108 2,444 640 -
Percent CO2e Emissions Reduced 59% 61% 64% -
 
EXCESS FLOW VALVE INSTALLATION PROGRAM**
Excess Flow Valves (EFVs) 319,785 290,668 236,597 -
Total Number of Services 590,426 581,503 551,886 -
% EFVs to total Services 54% 50% 43% -
EFVs Methane Emissions Reduction,Mcf 146,187 132,877 108,158 -
** EFVs Methane Emissions Reduction calculation based on the EPA's natural Gas Star Program Partner Reported Opportunities for Reducing Methane Emissions, the estimated annual methane emission reductions is equal to 160 Mcf per installation of 350 Excess Flow Valves.
 
Recycled Waste
Tons of Municipal Waste, Landfilled*** 391 522 375 -
Tons of Municipal Waste, Recycled*** 149 207 110 -
Tons of Municipal Waste, % Recycled*** 28% 28% 23% -
Tons of Utility Operations Solid Waste, Landfilled 7,660 6,716 5,619 -
Tons of Utility Operations Solid Waste, Recycled 859 965 1,371 -
Tons of Utility Operations Solid Waste, % Recycled 10% 13% 20% -
Tons of Manifested Waste 1.57 0.78 2.03 -
Gallons of Utility Operations Liquid Waste 154,597 117,749 69,619 -
***Waste data is from all division locations based on information available at the time of the report. In 2021, SJI recategorized municipal waste into office municipal waste and utility operations waste (both solid and liquid) with new information and added manifested waste.
Water Disclosure (Office, Division sites, LNG facilities) ****
Total Water Used/Consumed, gallons 3,838,498 3,266,088 6,469,681 -
City Water Usage, gallons 3,043,608 2,767,910 3,360,061 -
Water Withdrawn from Well, gallons 794,890 498,178 3,109,620 -
**** 2020 water usage decreased due to reduced occupancy during Covid. This year's report replaced estimated water information with actual data that was not available at the time of last year's report.

South Jersey Gas

Measurement 2021 2020 2019 2011
UTILITY SYSTEM EMISSIONS (IN METRIC TONS)
Direct CO2-Equivalent Emissions - Scope 1 50,303 49,215 69,899 135,230
Product-Supplied CO2-Equivalent Emissions - Scope 3 (partial) 2,470,878 2,291,928 2,491,760 2,591,032
CO2 1,453 1,259 1,388 2,067
Methane 1,954 1,918 2,740 5,326
Nitrous Oxide 0.0030 0.0020 0.0020 0.0040
 
METHANE EMISSIONS AND MIGRATION FROM DISTRIBUTION MAINS
Gas Distribution Customers 411,301 404,886 397,090 -
Distribution Mains in Service 6,977 6,918 6,830 6,144
Plastic (miles) 5,341 5,169 4,987 3,030
Cathodically Protected Steel - Bare & Coated (miles) 1,618 1,709 1,760 1,923
Unprotected Steel - Bare & Coated (miles) 19 40 83 955
Cast Iron/Wrought Iron - without upgrades (miles) 0 0 0 236
Ductile Iron (miles) 0 0 0 0
Copper 0 0 0 0
 
PLAN/COMMITMENT TO REPLACE/UPGRADE REMAINING MILES OF DISTRIBUTION MAINS (# Years to Complete)
Unprotected Steel-Bare & Coated 1 2 3 0
Cast Iron/Wrought Iron 1 2 3 0
 
DISTRIBUTION CO2E FUGITIVE EMISSIONS
CO2e Fugitive Methane Emissions from Gas Distribution Operations (metric tons) 48,848 47,955 68,509 133,161
CO2e Fugitive Methane Emissions from Infrastructure (Pipeline Main & Services), includes ductile iron for ETG 48,281 47,041 67,582 131,137
Percent Reduction from 2006 to each year 68% 69% 55% 13%
CH4 Fugitive Methane Emissions from Gas Distribution Operations 1,954 1,918 2,740 5,326
CH4 Fugitive Methane Emissions from Gas Distribution Operations (metric tons) 102 100 143 277
Annual Natural Gas Throughput from Gas Distribution Operations in thousands of standard cubic feet (Mscf/year) 51,629,711 49,364,522 54,496,700 45,164,947
Annual Methane Gas Throughput from Gas Distribution Operations in millions of standard cubic fee (MMscf/year) 49,048 46,896 51,772 42,907
Fugitive Methane Emissions Rate (Percent MMscf of Methane Emissions per MMscf of Methane Throughput)% 0.21% 0.21% 0.28% 0.65%
 
BLOWDOWN EMISSIONS REDUCTION INITIATIVE
Natural Gas Volume Released during Blowdown,cf 3,198,772 3,204,292 672,767 -
Natural Gas Volume Saved, cf 4,606,868 5,136,440 1,348,181 -
CO2e Emissions Reduced metric tons/yr 2,103 2,345 615 -
Percent CO2e Emissions Reduced metric tons/yr 59% 62% 67% -
 
EXCESS FLOW VALVE INSTALLATION PROGRAM**
Excess Flow Valves (EFVs) 205,756 187,375 144,299 -
Total Number of Services 359,471 350,734 322,000 -
% EFVs to total Services 57% 53% 45% -
EFVs Methane Emissions Reduction, Mcf 94,060 85,657 65,965 -
 ** EFVs Methane Emissions Reduction calculation based on the EPA's natural Gas Star Program Partner Reported Opportunities for Reducing Methane Emissions, the estimated annual methane emission reductions is equal to 160 Mcf per installation of 350 Excess Flow Valves.
 
RECYCLED WASTE
Tons of Municipal Waste, Landfilled 285 373 255 -
Tons of Municipal Waste, Recycled 72 140 43 -
Tons of Municipal Waste, % Recycled 20% 27% 14% -
Tons of Utility Operations Solid Waste, Landfilled 108 121 22
Tons of Utility Operations Solid Waste, Recycled 713 798 683 -
Tons of Utility Operations Solid Waste, % Recycled 87% 87% 97% -
Tons of Manifested Waste 0.00 0.45 1.61 -
Gallons of Utility Operations Liquid Waste 122,763 60,690 31,626 -
***Waste data is from all division locations based on information available at the time of the report. In 2021, SJI recategorized municipal waste into office municipal waste and utility operations waste (both solid and liquid) with new information and added manifested waste.
WATER DISCLOSURE
Total Water Used/Consumed, gallons 2,939,420 2,674,026 5,503,277 -
City Water Usage, gallons 2,372,030 2,344,530 2,607,507 -
Water Withdrawn from Well, gallons 567,390 329,496 2,895,770 -
**** 2020 water usage decreased due to reduced occupancy during Covid. This year's report replaced estimated water information with actual data that was not available at the time of last year's report.

Elizabethtown Gas

Measurement 2021 2020 2019  2011
UTILITY SYSTEM EMISSIONS (IN METRIC TONS)
Direct CO2-Equivalent Emissions - Scope 1 45,316 52,577 57,862 97,511
Product-Supplied CO2-Equivalent Emissions - Scope 3 (partial) 2,385,968 2,261,626 2,464,394 2,608,759
CO2 493 529 499 1,046
Methane 1,793 2,082 2,295 3,859
Nitrous Oxide 0.0008 0.0010 0.0010 0.0010
 
METHANE EMISSIONS AND MIGRATION FROM DISTRIBUTION MAINS
Gas Distribution Customers 305,464 301,613 297,191 -
Distribution Mains in Service 3,294 3,291 3,251 3,133
Plastic (miles) 2,040 1,966 1,873 1,434
Cathodically Protected Steel - Bare & Coated (miles) 1,001 1,005 1,014 1,033
Unprotected Steel - Bare & Coated (miles) 4 10 6 2
Cast Iron/Wrought Iron - without upgrades (miles) 236 292 338 634
Ductile Iron (miles) 13 17 20 31
Copper 0.4 0.5 0.4 0.5
 
PLAN/COMMITMENT TO REPLACE/UPGRADE REMAINING MILES OF DISTRIBUTION MAINS (# Years to Complete)
Unprotected Steel-Bare & Coated 4 5 6  
Cast Iron/Wrought iron 4 5 6  
 
DISTRIBUTION CO2E FUGITIVE EMISSIONS
CO2e Fugitive Methane Emissions from Gas Distribution Operations (metric tons) 44,822 52,048 57,363 96,464
CO2e Fugitive Methane Emissions from Infrastructure (Pipeline Main & Services), includes ductile iron for ETG 45,900 53,574 59,476 99,078
Percent Reduction from 2006 to each year 61% 55% 50% 17%
CH4 Fugitive Methane Emissions from Gas Distribution Operations 1,793 2,082 2,295 3,859
CH4 Fugitive Methane Emissions from Gas Distribution Operations (metric tons) 93 108 120 201
Annual Natural Gas Throughput from Gas Distribution Operations in thousands of standard cubic feet (MMscf/year) 47,002,862 44,844,484 48,316,276 51,134,314
Annual Methane Gas Throughput from Gas Distribution Operations in millions of standard cubic fee (Mscf/year) 44,653 42,602 45,900 48,578
Fugitive Methane Emissions Rate (Percent MMscf of Methane Emissions per MMscf of Methane Throughput)% 0.21% 0.25% 0.26% 0.41%
 
BLOWDOWN EMISSIONS REDUCTION INITIATIVE
Natural Gas Volume Released during Blowdown,cf 63,272 159,082 106,542 -
Natural Gas Volume Saved, cf 10,927 217,214 54,295 -
CO2e Emissions Reduced metric tons/yr 5 99 25 -
Percent CO2e Emissions Reduced metric tons/yr 15% 58% 34% -
 
EXCESS FLOW VALVE INSTALLATION PROGRAM**
Excess Flow Valves (EFVs) 114,029 103,293 92,298 -
Total Number of Services 230,955 230,769 229,886 -
% EFVs to total Services 49% 45% 40% -
EFVs Methane Emissions Reduction, Mcf 52,128 47,220 42,193 -
 ** EFVs Methane Emissions Reduction calculation based on the EPA's natural Gas Star Program Partner Reported Opportunities for Reducing Methane Emissions, the estimated annual methane emission reductions is equal to 160 Mcf per installation of 350 Excess Flow Valves. This year's report includes a correction for an erroneous number of total EFVs from 2020.
 
RECYCLED WASTE
Tons of Municipal Waste, Landfilled 106 149 119 0
Tons of Municipal Waste, Recycled 77 67 67 0
Tons of Municipal Waste, % Recycled 42% 31% 36% -
Tons of Utility Operations Solid Waste, Landfilled 7,552 6,595 5,597 -
Tons of Utility Operations Solid Waste, Recycled 146 168 687 -
Tons of Utility Operations Solid Waste, % Recycled 2% 2% 11% -
Tons of Manifested Waste 1.57 0.34 0.42 -
Gallons of Utility Operations Liquid Waste 31,834 57,059 37,993 -
***Waste data is from all division locations based on information available at the time of the report. In 2021, SJI recategorized municipal waste into office municipal waste and utility operations waste (both solid and liquid) with new information and added manifested waste.
WATER DISCLOSURE
Total Water Used/Consumed, gallons 899,078 592,062 966,404 -
City Water Usage, gallons 671,578 423,380 752,554 -
Water Withdrawn from Well, gallons 227,500 168,682 213,850 -
**** 2020 water usage decreased due to reduced occupancy during Covid. This year's report replaced estimated water information with actual data that was not available at the time of last year's report.
 

Social

Measurement 2021 2020 2019
Total Employees** 1,173 1,128 1,117
Corporate 20% 20% 18%
Utility Company 77% 77% 79%
Non-Utility Company 3% 3% 3%
 
% of Employees Represented by Unions** 39% 41% 44%
Employee Turnover Rate** 8% 8% 7%
Retirements 2% 4% 6%
EMPLOYEE POPULATION ETHNICITY REPRESENTATION
Male 63% 62% 61%
Female 37% 38% 39%
White 70% 71% 72%
Non White 30% 29% 28%
People of Color (including women) 51% 51% 51%
Breakdown of Non-White Employees
          American Indian 1% 1% 1%
          Asian 10% 10.7% 9%
          Black 40% 40% 42.5%
          Hispanic 43% 43% 42.5%
          Two or More Races 5% 4% 5%
          Native Hawaiian or Other Pacific Islander 0.3% 0.3% N/A
 
Median Employee Age** 43 44 45
EMPLOYEE POPULATION GENERATIONAL REPRESENTATION
Traditionalists (Over 75) 0% 0% 0%
Baby Boomers (56-74) 21% 24% 31%
Generation X (40-55) 34% 35% 34%
Millenials/Generation Y (25-39) 40% 37% 34%
I Gen/Generation Z (24 and younger) 5% 4% 1%
New Hire Representation
New Hire Males 60% 70% 51%
New Hire Women 40% 30% 49%
New Hire People of Color (including Women) 57% 52% 75%
New Hire Non White 39% 38% 40%
 
Median Employee Tenure** 5 5 6
Leadership Roles Held by Women 40% 38% 39%
Entry Level Engineer Positions Held by Women and Minorities **** 40% 62% 55%
Internship Program Participants 19 7 14
Employee Engagement Survey Engagement Rate 92% N/A 88%
Employee Engagement Survey Response Rate 88% N/A 82%
Employee Participation in Corporate Training/Development Programs (in hours) 6,730 5,945 4,877

** Intern Population included
*** Senior Engineer Positions: Engineer V and Above
**** Entry Level Engineer Positions: Coordinator, Associate, Intermediate, Level 

Safety

Measurement 2021 2020 2019
OSHA Recordable Rate 0.66 1.13 1.97
DART Rate 0.45 0.68 1.23
Preventable Auto Rate 1.64 1.3 2.8
SJI Fatality Rate 0.00 0.00 0.00

Governance

Measurement 2021 2020 2019
Members of the Board of Directors 10 10 11
Female Members of the Board of Directors 3 3 3
Ethnic Diversity of Board      
          African American 1 1 1
          Asian 1 1 1
          International 1 1 1
          Other 7 7 8
 

SASB Gas Utility Standards

SASB Code Accounting Metric SJG 2021 ETG 2021
Energy affordability
IF-GU-240a.1 Average gas retail rate for residential customers (USD per MMBtu) $15.98 $10.51
Average gas retail rate for commercial customers (USD per MMBtu) $14.93 $11.13
Average gas retail rate for industrial customers (USD per MMBtu) $7.97 $8.83
Average gas retail rate for transportation services (USD per MMBtu) $4.50 $2.83
 
IF-GU-240a.2 Typical monthly gas bill for residential customers for (1) 50MMBtu of gas delivered per year $69.29 $47.86
Typical monthly gas bill for residential customers for (2)100 MMBtu of gas delivered per year $127.93 $85.64
 
IF-GU-240a.3 Number of residential customer gas disconnections for non-payment Moratorium in effect during the entirety of 2021
IF-GU-240a.4 Discussion of impact of external factors on customer affordability of gas, including the economic conditions of the service territory Please see this item in SASB Discussion and Analysis Section
End-Use Efficiency
IF-GU-420a.1 Percentage of gas utility revenues from rate structures that are decoupled 89% 84%
Percentage of gas utility revenues from rate structures that contain a lost revenue adjustment mechanism (LRAM) - -
IF-GU-420a.2 Residential Customer gas savings from efficiency measures by market (MMBtu) 231,363 118,740
Commercial Customer gas savings from efficiency measures by market 774 863
Multifamily gas savings from efficiency measures by market - -
INTEGRITY OF GAS DELIVERY INFRASTRUCTURE
IF-GU-540a.1 Number of reportable pipeline incidents, 0 0
Number of Corrective Action Orders (CAO) 0 0
Number of Notices of Probable Violation (NOPV) 0 0
IF-GU-540a.2 Percentage of distribution pipeline that is (1) cast and/or wrought iron 0% 7%
Percentage of distribution pipeline that is (2) unprotected steel 0.28% 0.11%
IF-GU-540a.3 Percentage of gas (1) transmission pipelines inspected 4% 0%
Percentage of gas (2) distribution pipelines inspected 2% 2%
IF-GU-540a.4 Description of efforts to manage the integrity of gas delivery infrastructure, including risks related to safety and emissions Please see this item in SASB Discussion and Analysis Section
Activity metrics
IF-GU-000.A Number of residential customers served 384,058 281,614
Number of commercial customers served 26,925 23,748
Number of industrial customers served 318 102
IF-GU-000.B Amount of natural gas delivered to residential customers (MMBtu) 25,444,651 23,152,773
Amount of natural gas delivered to commercial customers (MMBtu) 12,720,970 13,795,821
Amount of natural gas delivered to industrial customers (MMBtu) 10,791,401 11,989,219
IF-GU-000.C Number of gas transmission pipelines 236 21
Length of gas distribution pipelines (km) 10,992 5,280
SASB DISCUSSION AND ANALYSIS
IF-GU-240a.4 Discussion of impact of external factors on customer affordability of gas, including the economic conditions of the service territory
  The challenges presented to our Customers and the Country as a whole related to the financial impact of the COVID-19 pandemic has caused continued financial hardship and affected the ability for some in our service territory to pay for utility service.  In addition to the Moratorium that was placed on utility shutoffs that continued through 2021, SJG has continued to partner with providers to promote financial assistance to those in need through low income assistance programs, including the Low-Income Home Energy Assistance Program (“LIHEAP”), Payment Assistance for Gas and Electric (“PAGE”), Lifeline, Comfort Partners and NJ SHARES, as well as other grants and relief funds administered by our State and Federal agency partners.
IF-GU-420a.2 Customer gas savings from efficiency measures by market
  For additional information on our energy efficiency programs please see the "Clean Energy Investments" and "Energy Efficiency" sections of this report.
IF-GU-540a.4 Description of efforts to manage the integrity of gas delivery infrastructure, including risks related to safety and emissions
  Our system improvement efforts across our utilities focus on enhancing the safety, reliability, and resiliency of our natural gas systems.  Our modernized system results in fewer leaks, and our diligent leak tracking and response program ensures timely repairs.  With less natural gas escaping our system, we also see less greenhouse gas emissions.  As shown in our metrics table our infrastructure improvement programs at our utilities have resulted in a reduction in CO2 equivalent emissions from 2006 levels of 68% at SJG and 61% at ETG. Further discussion on our infrastructure improvements can be found within the infrastructure modernization section of the ESG report.
 

Other Metrics

Measurement 2021 2020 2019
Utility Customer Count 716,765 706,499 701,080
Customer Representation
Residential 92.19% 92.8% 92.8%
Commercial 7.77% 7.08% 7.10%
Industrial 0.03% 0.07% 0.10%
 
Gas Leak Hotline Calls (SJG) *** 39,222 20,875 24,540
Gas Leak Hotline Calls (ETG) *** 31,135 - -
Gas Leak Hotline Average Call Response Time (in Minutes) (SJG) *** 29 27.2 25.6
Gas Leak Hotline Average Call Response Time (in Minutes) (ETG) *** 32 - -
Customer Growth Rate 1.5% 1.76% 1.40%
Total Utility Customer Bill Financial Support Given (in Millions of Dollars) 14.18 15.75 16.5
Capital Investment (in Millions of Dollars) 532 486.5 504.2
Salaries Paid to Employees (in Millions of Dollars) 99.8 96.4 90.3
Total Supplies and Services Expenditures from New Jersey-Based Companies (in Millions of Dollars)** 624 327.8 233.6**
Total Supplies and Services Expenditures from Minority-, Service-Disabled Veteran-, Woman-Owned Businesses (in Millions of Dollars) 104 86.00 87.40
Economic Earnings (in Millions of Dollars) 178.00 163.00 103.00
Annualized Dividend Declared Per Common Share (in Dollars) 1.24 1.21 1.18
** Data from 2019 revised to reflect more accurate methods for extracting data on New Jersey-based suppliers that SJI adapted after a forensic review of procurement records related to the acquisition of Elizabethtown Gas
***  This year, Gas Leak Hotline Calls and Average Call Response Time broken out by utility



 

DISCLAIMER AND FORWARD-LOOKING STATEMENTS

The information and opinions contained in this report are provided as of the date of this report and are subject to change without notice. South Jersey Industries (SJI) does not undertake to update or revise any such statements. This report represents current SJI policy and intent and is not intended to create legal rights or obligations. This report may contain or incorporate by reference public information not separately reviewed, approved, or endorsed by SJI, and no representation, warranty, or undertaking is made by SJI as to the accuracy, reasonableness, or completeness of such information. Inclusion of information in this report is not an indication that the subject or information is material to SJI’s business or operating results.

This report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current facts, including statements regarding our plans, initiatives, projections, goals, commitments, expectations, or prospects, are forward-looking. We use words such as aim, believe, commit, drive, estimate, ensure, expect, goal, intend, may, mission, plan, project, seek, strategy, strive, target, and will or similar expressions to identify forward-looking statements. Forward-looking statements reflect management’s current expectations and inherently involve risks and uncertainties. Actual results could differ materially due to a variety of factors, including assumptions not being realized, scientific or technological developments, evolving sustainability strategies, changes in carbon markets, evolving government regulations, our expansion into new products, services, technologies, and geographic regions, or other changes in circumstances, as well as the factors set forth in the “Risk Factors” section of SJI’s most recent Annual Report on Form 10-K and subsequent filings. The standards of measurement and performance contained in the report are developing and based on assumptions, and no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this report can or will be achieved.