1. To Our Shareowners
2001 marked the completion of our first full year as a new company.
We have much to be proud of, but still have more work to do.
As shareowners of this company, you can be assured ArvinMeritor
is focused on the future and positively positioned to move forward.
Our successful merger integration process put us ahead of the economic
downturn. As a result, we are ready to respond to the growing challenges
currently facing the automotive industry, including declining sales, and
excess capacity and inventory. We remain diligent in our efforts to grow
the business while taking costs out, striving toward our ultimate goal to
be the supplier of choice for the motor vehicle industry. Our long-term
goals have not changed:
Grow sales 10 percent annually over the business cycle.
•
We intend to achieve this primarily through organic growth;
Grow earnings per share 15 percent to 18 percent annually by
•
focusing on margin expansion. This growth will be driven by cost
reductions and efficiencies;
Emphasize cash generation;
•
Maintain investment grade credit rating; and
•
Reduce debt-to-capital ratio to 45 percent.
•
Our customers, and our promise to deliver the highest levels of product
quality and service, remain at the center of our work. Despite these difficult
economic times, we must never lose sight of our commitment to deliver
innovative solutions that move the world.
2. Financial Highlights
In millions, except per share amounts
Pro Forma(1)
Year Ended September 30, 2001 2000 1999
Sales
Light Vehicle Systems $ 3,588 $ 3,668 $ 3,474
Commercial Vehicle Systems 2,199 2,926 2,941
Light Vehicle Aftermarket 859 950 906
Other 159 178 170
Total Sales $ 6,805 $ 7,722 $ 7,491
Operating income(2) $ 279 $ 515 $ 533
As a percent of sales 4.1% 6.7% 7.1%
Net income(3) $ 91 $ 254 $ 279
Pre-tax interest coverage(3) 2.0x 3.9x 4.9x
Diluted earnings per share(3) $ 1.38 $ 3.56 $ 3.66
Diluted common shares outstanding 66.1 71.4 76.3
Cash provided by operations $ 605 $ 344 $ 415
Total debt to capitalization ratio(4) 67% 67% 58%
(1) Pro forma financial information presented as if the merger had occurred at the beginning of each fiscal year and reflects (a) the amortization of
goodwill from the merger and the elimination of historical Arvin goodwill amortization expense; (b) the adjustment to interest expense for
borrowings to fund the Arvin cash consideration and other financing costs; (c) the income tax effects of (a) and (b) above; and (d) the adjustment
of shares outstanding representing the exchange of one share of Meritor common stock for 0.75 shares of ArvinMeritor common stock and one
share of Arvin common stock for one share of ArvinMeritor common stock, based on the average shares outstanding for each year.
(2) Operating income excludes restructuring costs and other charges of $84 million, $30 million and $35 million in fiscal years 2001, 2000 and
1999, respectively, and gain on sale of businesses and other of $89 million and $31 million in fiscal years 2000 and 1999, respectively.
Operating income also excludes merger-related expenses of $70 million in fiscal year 2000.
(3) Net income, earnings per share and pre-tax interest coverage exclude the special items discussed in (2) above and non-operating one-time
expenses of $3 million and $1 million in fiscal 2000 and 1999, respectively.
(4) As of September 30, 1999 this ratio is based on combined results of Arvin and Meritor.
Sales Operating Income Operating Cash Flow
$ in billions $ in millions $ in millions
$7.7
$7.5
7.1% $605
6.7%
$6.8
$6.3
7.1%
$5.6
$415
6.2% $401
$383
$344
4.1%
$533 $515 $279
$348 $444
1997 2000
1997 2000 1998 1999 1997 2000
2001
1998 1999 1998 1999
2001 2001
I Special items
% Operating income before special items
as a percent of sales
Note: Sales, operating income and operating cash flow for the fiscal years ended September 30, 1997 - 2000 are presented on a pro forma basis.
3. Financial Results For Fiscal Year 2001
The company reported fiscal year 2001 sales of $6.8 billion and net income before
special items of $91 million, or $1.38 per share. Sales declined 12 percent, and
Working Capital
net income before special items decreased 64 percent, as compared to last year’s
as a Percent of Sales
results. Operating income before special items was $279 million, down 46 percent $ in billions
from last year, reflecting an operating margin of 4.1 percent, compared to last
year’s 6.7 percent. 6.9%
4.2%*
For the year, Light Vehicle Systems (LVS) sales were $3.6 billion. Excluding the
$128-million negative impact of currency translation and the loss of $31 million of
seat sales, LVS sales would have been up two percent as compared to last year.
Fiscal year 2001 operating margin for LVS declined to 5.9 percent, from 6.3 percent
last year, attributable to pricing pressures and declining markets in North America.
Commercial Vehicle Systems (CVS) sales were $2.2 billion in fiscal year 2001, a
$6.8
$7.7
decrease of 25 percent from a year ago, and operating margin was 1.5 percent,
down from 7.9 percent for fiscal year 2000. The operating margin decline for 2001
2000
the year is attributable to volume reductions outpacing the company’s lowering
Working capital (receivables,
of its fixed costs.
payables and inventory) as a
percent of sales improved
For the year, Light Vehicle Aftermarket (LVA) sales were $859 million, compared to dramatically as a result of
our focus on cash generation.
$950 million in fiscal year 2000, and operating margin increased to 5.1 percent
*Excluding sale of receivables.
from 4.5 percent in the prior year. The margin increase is the result of improved
pricing and the impact of ongoing cost reductions.
The company generated $605 million in operating cash flow for fiscal year 2001,
Inventory Turnover
including the $211-million sale of accounts receivable, reflecting the company’s
continuing emphasis on cash generation. Due to the strong operating cash flow 13.0x
and the impact of the accounts receivable securitization program, the company 11.4x
was able to reduce debt and preferred capital securities by $320 million.
Sustain and Strengthen the Business
As a direct result of current economic conditions and industry pressures, we are
aggressively pursuing several process improvements and organizational changes
that are designed to improve our returns. Our goals are to cut costs, improve
quality and reduce cycle time in order to sustain and strengthen our business.
Specifically, we will:
2001
2000
Concentrate on core competencies, divest non-core businesses
•
and outsource non-core processes; Inventory turnover was the key
contributor to the improvement in
working capital.
Identify products with low margins and either improve or discontinue them;
•
Improve returns or divest under-performing businesses;
•
Note: References to results for
fiscal year ended September 30,
Conserve cash and capital through joint ventures and alliances; 2000, are on a pro forma basis.
•
1
4. Align inventories with weakening market demands; and
•
Implement continuous improvement initiatives that will improve quality,
•
shorten cycle times and drive out waste.
In addition to these tough measures, we will reduce capital spending by
approximately 15 percent from fiscal year 2001 capital spending of
$206 million, adjust our salaried workforce downward and eliminate
unnecessary costs. These steps will strengthen our financial performance
and ensure that we emerge from the downturn a stronger company.
Our Products
As consolidations and global outsourcing continue to shape our marketplace,
we remain competitively positioned to support these trends and grow our market
share. The merger created an even stronger product portfolio for ArvinMeritor,
Cash Flow from Operations
integrating several competencies for next-generation automotive systems and
$ in millions
modules. These systems are designed, manufactured, assembled and delivered
$605 to our customers wherever and whenever they are needed by way of our global
just-in-time logistics network.
We view systems integration as our greatest growth opportunity. Through value-
$344
added engineering, technology and innovation, we will provide more value to our
customers, and, in return, grow our business by increasing our content per vehicle.
Light Vehicle Systems
Today, our light vehicle products total more than $100 in content per vehicle in
North America and Europe combined. By combining our component technologies
2001
2000
into systems – such as aperture, undercarriage and exhaust systems – we have
identified an eight-percent annual organic growth rate for this segment. This growth
We achieved a positive cash flow
from operations despite a is driven by new products, new business wins and increased market penetration.
significant drop in net income.
While we currently hold the market leadership position in exhaust systems, we
recognize the need to prepare for the market impact of alternative fuels and new
powertrain solutions. We are tracking this transition and working on exciting new
technologies to take advantage of this trend, while maintaining our commitment to
providing cleaner, lighter and smarter exhaust and emission solutions to our
customers. By understanding and optimizing airflow management principles,
ArvinMeritor’s air induction and exhaust system development process will improve
engine performance, as well as reduce OEM development time by eliminating
design and engineering redundancies. A recent tribute to this work was
General Motor’s selection of our new integrated air management solution
– Air2Air™– for the all new Chevy SSR sport utility vehicle.
Another great example of ArvinMeritor’s system integration is in the recently
announced modular, independent rear suspension concept unveiled at the IAA
International Motor Show in Frankfurt, Germany. By integrating several ride control
2
5. and suspension components into a flexible alternative for our customers, we can
reduce product cycle time, lower assembly costs and enhance the total suspension
performance for the end user.
Commercial Vehicle Systems
While vehicle markets for our heavy-duty product lines were down significantly,
our commitment to product enhancements was not. Today, our commercial
vehicle products total more than $2,000 in content per truck and trailer
produced in North America and Europe combined. We intend to grow this number
by continuing to incorporate more products into the drivetrain, suspension and
stopping systems package.
Beyond the much lower vehicle production volumes, the industry faces several
issues, including enhanced safety requirements, new emissions regulations and the
need to lower operating costs. Because ArvinMeritor integrates its products into the
Process
DriveTrain Plus™ system (available only in North America), we can address these
concerns and deliver several benefits to the truck and trailer OEM, as well as the
end-user customer.
In 2001, we launched several new products targeted at reducing
operator maintenance costs, including the Meritor® Amboid Drive
Axle and Meritor® Tire Inflation System by P.S.I. We also began
People
production on the newest automated manual transmission,
ZF Meritor’s FreedomLine™ – which is designed to be a lighter,
more cost-effective solution than that of the competition. Its
electronically controlled shifting senses payload and automatically knows
when to shift gears. This engineering advancement also optimizes fuel
economy – a benefit that has never been more important, as we watch fuel
prices fluctuate and severely affect truck fleet and owner-operator profits.
Products
One of our greatest opportunities for growth in the commercial vehicle market will
come with the pending U.S. and European heavy-duty diesel emissions regulations.
Between now and 2005 for Europe, and by 2007 for the United States, a dramatic
reduction in environmentally harmful diesel emissions must be realized. In order to
The positive interaction of
reduce diesel particulate and emissions from exhaust gas, our customers will need
ArvinMeritor’s unequalled
to redesign their engines and apply aftertreatment technologies. By utilizing our processes, market-leading
proven emissions-control experience and newly developed product solutions, we products and our talented, highly
motivated people creates a
expect to achieve significant penetration in this expanding market within the next
powerful synergy that positions us
five years and beyond. well for today, as well as takes
advantage of future opportunities.
Our commercial vehicle aftermarket business continued its push to promote the
Meritor and Euclid® aftermarket parts brands within their respective distribution
channels, focusing on delivering the right product at the right time. Supporting that
effort was the introduction of XpresswayPlus.com, our first Web-based online parts
ordering system. Today, we have more than 630 customers who will benefit from
the real-time information exchange between ArvinMeritor and our OEMs, dealers
and warehouse distributors.
3
6. Light Vehicle Aftermarket
While the markets remained weak for aftermarket parts, we were successful in
adjusting our operations to put more focus on servicing customers, while reducing
costs. Our marketing and industry-leading distribution capabilities are ready to
support our family of well-known brands, including the introduction of several new
products targeting the performance market. In exhaust and ride control, we expect
to capitalize on the growing number of used vehicles in the critical six- to ten-
year-old segment that requires more frequent service and repair. In filters, the
increasing number of vehicles in operation that drive more miles each year will
generate a strong market. We are well-positioned in each of these markets, with
loyal customer leaders in the “Do-It-Yourself,” “Do-It-for-Me” and Original
Equipment Service markets.
Our Processes
The foundation to our ongoing success is our commitment to continuous improvement
and quality. Both of these areas received significant attention this year.
ArvinMeritor has 33,000 employees
One of our most significant merger accomplishments has been the institution of
and more than 150 manufacturing
facilities in 27 countries.
ArvinMeritor Performance System (AMPS). AMPS is a combination of lean
manufacturing principles and best practices designed to empower teams of
employees to drive out waste, eliminate non-value-added tasks and improve
production and administrative processes. This internally focused initiative – when
combined with our dedication to quality – moves us closer to designing products
that exceed our customer expectations.
The ArvinMeritor “S3” program, which stands for Six Sigma, Shainin and
Solutions, was also launched this year. S-Cubed thinking is helping us to create
a problem-solving culture that is not only focused on customer needs, but also
on delivering products on time, at lower costs. To date, the application of S-Cubed
programs have resulted in approximately $100,000 in savings per project.
12th Our People
It’s been a busy year, and our people have achieved a great deal. Our merger
Largest
integration was successful. By combining human, technical and financial best
Supplier practices we saved the company $40 million in pre-tax integration synergies.
In addition, our other cost reduction initiatives generated $40 million in pre-tax
savings, and we expect recurring income tax savings of $10 million per year.
Our engineering teams made significant advancements in designing new systems
We are the 12th largest global
and technologies, filing more than 145 original patent applications in 2001. And,
automotive supplier based on
2000 sales. our operations made great progress to ensure that the highest levels of sustainable
manufacturing quality were achieved.
Source: Automotive News,
June 18, 2001
It’s not an exaggeration when we say that our success is derived from our people.
It’s through their hard work, commitment and passion to serve the customer that
progress is made and innovations are born.
4
7. This year alone, we were recognized by our customers, peers and professional
associations, as well as by the communities in which we work, with more than
90 awards and accolades. To name a few:
Ford Motor Company’s Gold World Excellence Award to Light Vehicle
•
Aftermarket for its determination and sustained focus on achieving the very
highest of standards with its Purolator® filter brand;
General Motors Corporation Supplier of the Year Award to Light Vehicle Systems
•
for superior performance in quality, service, technology and price with its wheel
product line;
Motor & Equipment Manufacturers Association’s Aftermarket Web Challenge™
•
Award to Commercial Vehicle Aftermarket for its new market-leading B2B Web
site XpresswayPlus.com; and
PACE 2001 – Honorable Mention to Exhaust Systems for its revolutionary use
•
of titanium for a complete exhaust system for the Corvette Z06.
Facing the Future
We have a strong and experienced management team, and we are taking the
necessary actions to weather this downturn and prepare for the eventual
turnaround. In the last year, we built a financially sound, viable new company that
is fast on its feet. It took long hours, tough decisions and a commitment from all to
emerge from the merger bigger and better than we were as separate companies.
Today, we face the future with confidence and certain knowledge that ArvinMeritor
is a growth story. We will continue to strengthen our technology and engineering
Larry Yost
infrastructure to ensure we remain a leader in this industry, always delivering
Chairman and
exemplary value to our customers, shareowners and employees. Chief Executive Officer
We’re in it for the long haul. Stick with us. We’re in for a great ride!
Sincerely,
Larry Yost
Chairman and
Chief Executive Officer
December 11, 2001
5
8. ArvinMeritor At-A-Glance
Business Segments Brand Names Highlights 2001 Results
Light Vehicle Systems
ArvinMeritor
Exhaust Systems Expanded wheel manufacturing facility in Mexico to
Aperture Systems MSSC* respond to growing Americas market
Undercarriage Systems Arvin Sango*
Zeuna Stärker* Introduced new modular, independent
rear suspension
Net Sales Operating Income
Signed an exclusive technology development agreement
(Segment by %) (Segment by %)
with MIT to commercialize new emissions aftertreatment
I LVS 53% I LVS 76%
and other system solutions
Moved into recreational market, with first contracts to
supply exhaust products to Harley-Davidson and Arctic Cat
*Joint Venture Brand Name
Commercial Vehicle Systems
Meritor
Drivetrain Systems Captured major supply contract with Volvo Buses
Stopping Systems Gabriel Commercial for axle modules
Specialty Products Vehicle
Suspension Systems and Trailer Products
ROR Meritor ®Tire Inflation System by P.S.I. selected standard
Euclid equipment on Great Dane classic refrigerated trailers
ZF Meritor*
Operating Income
Net Sales
Meritor WABCO* Awarded first exhaust system contract with European (Segment by %)
(Segment by %)
commercial vehicle manufacturer
I CVS 32% I CVS 11%
*Joint Venture Brand Name
Light Vehicle Aftermarket
Purolator
Exhaust Aggressively aligned manufacturing and distribution
Filters Gabriel capacity with future aftermarket demand
Ride Control Arvin
Ansa Sport Achieved three consecutive quarters of
EuroCat margin improvement
MetalCat
Net Sales Operating Income
Awarded Vendor of the Year by CARQUEST and TruStar
Arvin Tesh
(Segment by %) (Segment by %)
Arvin Rosi
Purolator wins Ford Gold Excellence Award I LVA 13% I LVA 16%
Arvin Timax
Arvin Ansa
Note: Business units that are not focused on automotive products are classified as “Other.” Net sales
6
9. Top Customers Markets Served Market Outlook and Trends
DaimlerChrysler Global manufacturers of: Light vehicle volumes are predicted to
General Motors
Passenger cars and vans decline in North America and Europe in
•
Ford
Sport utility vehicles the next year. The company expects the
•
Volkswagen
Toyota Light trucks continued integration of automotive
•
Nissan
components into major systems and
Segment Sales Segment Sales
(by region) (by product) modules, consolidation and outsourcing
I Exhaust 48%
I to offer future growth opportunities.
North America 57%
I Apertures 32%
I Europe 35%
I Undercarriage 20%
I South America 4%
I Asia/Pacific
and other 4%
Freightliner Global manufacturers of: North American Class 8 commercial vehicle
Volvo
Heavy-duty trucks and trailers volumes will remain soft in 2002.
•
Navistar
Medium-duty trucks European OEMs will increasingly outsource
•
PACCAR
Mack Coaches and buses components in order to achieve cost and
•
Blue Bird
Specialty vehicles efficiency advantages. Approaching U.S. and
Segment Sales Segment Sales •
Evobus
(by region) (by product)
European diesel emission regulations will
Volkswagen
I I Drivetrain Systems 41% Oshkosh Truck generate new markets for aftertreatment
North America 67%
I I Stopping Systems 23% Stewart & Stevenson
Europe 25%
emission products.
I I Specialty Products 19% MCI
South America 4%
I I Suspension Systems IVECO
Asia/Pacific
and other 4% and Trailer Products 17% MAN
Wabash
Trailmobile
Great Dane
Ford/Motorcraft Warehouse distributors The fastest growing segment of vehicles
•
AutoZone
Installers in operation are 6- to 10-years old.
•
CARQUEST
Retail outlets The Motor & Equipment Manufacturers
•
Kwik-Fit
Unipart Association (MEMA) estimates an
Pep Boys
“untapped market” of $58.3 billion of
Segment Sales Segment Sales
Advance
(by region) (by product)
unperformed vehicle maintenance.
Midas
I North America 74% I Exhaust 36% Meineke These two facts combined translate into
I Europe 24% I Filters 35% Texaco
expanding market opportunity for
I Asia/Pacific I Ride Control 29% Pennzoil Quaker State
Light Vehicle Aftermarket.
and other 2%
and operating income for the “Other” classification were $159 million and $(10) million, respectively.
7
10. ArvinMeritor Board of Directors
Larry D. Yost William D. George, Jr. James E. Perrella
Chairman of the Board Former President and Chairman of the Board
Chief Executive Officer Chief Executive Officer Ingersoll-Rand Company
ArvinMeritor Inc. S.C. Johnson Wax
Harold A. Poling
Joseph B. Anderson, Jr. Richard W. Hanselman Former Chief Executive Officer
Chairman of the Board and Chairman of the Board and Chairman of the Board
Chief Executive Officer Health Net, Inc. Ford Motor Company
Chivas Industries LLC
Charles H. Harff Martin D. Walker
Steven C. Beering Former Senior Vice President, Former Chairman of the Board
President Emeritus General Counsel and and Chief Executive Officer
Purdue University Secretary M.A. Hanna Company
Rockwell International Corporation
Rhonda L. Brooks
President Victoria B. Jackson
Exterior Systems Business President
Owens Corning, Inc. Victoria Bellé, Inc.
Joseph P. Flannery James E. Marley
Chairman of the Board Former Chairman of the Board
President and AMP Inc.
Chief Executive Officer
Uniroyal Holding, Inc.
Executive Officers
Larry D. Yost Juan L. De La Riva S. Carl Soderstrom
Chairman of the Board Senior Vice President Senior Vice President
Chief Executive Officer Corporate Development & Strategy, Chief Financial Officer
Engineering and Procurement
Vernon G. Baker, II Craig M. Stinson
Senior Vice President Thomas A. Gosnell Senior Vice President
General Counsel Senior Vice President President, Exhaust Systems
President, Commercial
Diane S. Bullock Frank A. Voltolina
Vehicle Systems
Vice President Vice President
Controller Perry L. Lipe Treasurer
Senior Vice President
Linda M. Cummins Ernest T. Whitus
Chief Information Officer
Senior Vice President Senior Vice President
Communications Terrence E. O’Rourke Human Resources
Senior Vice President
William K. Daniel Bonnie Wilkinson
President, Light Vehicle Systems
Senior Vice President Vice President
President, Light Vehicle Secretary
Aftermarket
8
11. Corporate Information
ArvinMeritor Headquarters Dividend Reinvestment and Additional Investments in
ArvinMeritor Common Stock
2135 West Maple Road
Troy, MI 48084-7186 EquiServe Trust Company, N.A., provides the
Phone: 248-435-1000 DirectSERVICE Investment Program for
Fax: 248-435-1393 ArvinMeritor shareowners, under which current
www.arvinmeritor.com shareowners may elect to reinvest dividends
and/or make optional cash investments in
Corporate Public Relations additional shares of ArvinMeritor common stock.
The program also allows cash investments in
Members of the media should contact:
ArvinMeritor common stock by first-time investors,
Public Relations
with a $500 minimum initial investment.
248-435-7907
Shareowners may also sell their shares through
Shareowner Services the DirectSERVICE Investment Program.
Communications about share ownership, book-entry
For a brochure and details of the program,
accounts, dividend payments, transfer requirements,
please direct inquiries to:
changes of address, lost stock certificates, account
DirectSERVICE Investment Program
status and sale of shares should be directed to:
EquiServe Trust Company, N.A.
EquiServe Trust Company, N.A.
P.O. Box 2598
P.O. Box 43069
Jersey City, NJ 07303-2598
Providence, RI 02940-3069
Registered shareowners: 800-414-6280
800-519-3111
Other interested investors: 800-483-2277
www.equiserve.com
Independent Auditors
For Internet access to account information
Deloitte & Touche LLP
call 877-843-9327 toll free to receive a password
600 Renaissance Center
by mail.
Detroit, MI 48243-1704
313-396-3000
E-mail: equiserve@equiserve.com
Telecommunications Devices for the
Transfer Agent and Registrar
Deaf (TDDs) may be accessed by calling
EquiServe Trust Company, N.A.
201-222-4955.
P.O. Box 43069
Investor Relations Providence, RI 02940-3069
800-519-3111
Securities analysts and professional investors
should contact:
New York Stock Exchange
Investor Relations
Common Stock (Symbol: ARM)
ArvinMeritor, Inc.
2135 West Maple Road
Annual Meeting
Troy, MI 48084-7186
www.arvinmeritor.com/investor/investor.asp The companyÕ annual meeting of shareowners will
s
Phone: 866-INFO-ARM (866-463-6276) be held at the ArvinMeritor headquarters at 9:00 a.m. (EST)
Fax: 248-435-1189 Wednesday, February 20, 2002. A notice of meeting
E-mail: investor.relations@arvinmeritor.com and proxy material will be mailed to shareowners on
or about January 4, 2002.
For copies of annual reports, Forms 10-K
and 10-Q and other ArvinMeritor publications,
please contact Investor Relations at the
above address.
12. Our Market and Brand Strength
North America Europe
Rank Share Rank Share
Light Vehicle Systems OE
Exhaust Systems 1 31% 1 20%
Door Systems 2 18% 2 27%
Roof Systems 2 28% 2 29%
Gas-Charged Lift Supports Aperture 2 27% - -
Vacuum Actuators 1 91% 2 23%
Access Control - - 2 28%
Suspension 1 34% - -
Undercarriage
Wheels 2 23% - -
Shocks and Struts 1 16% 2 21%
Commercial Vehicle Systems OE
Trailer Axles 1 70% 2 30%
Truck Axles 1 53% 1 26%
Brakes and ABS 1 77% 1 40%
Drivelines 2 27% - -
Transmission and Clutch 2 16% - -
Ride Control 1 62% - -
Light Vehicle Aftermarket
Exhaust Systems 2 35% 2 20%
Filters 1 30% - -
Ride Control 2 46% 3 12%
Commercial Vehicle Aftermarket
Trailer Axles 1 80% - -
Truck Axles 1 44% - -
Brakes and ABS 1 40% - -
Drivelines 2 20% - -
Ride Control 2 40% - -
SP-0217