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Employer Identification No.\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 116.15 356.48 Td (9255 Coverdale Road) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 356.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 356.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 117.50 341.48 Td (Fort Wayne, Indiana) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 341.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.50 341.48 Td (46809) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.30 326.48 Td (\(Address of principal executive offices\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 326.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.80 326.48 Td (\(Zip Code\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 274.75 295.68505859375 m 337.240234375 295.68505859375 l s q 0 0 0 rg BT 274.75 297.25 Td (\(260\) 824-2900) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.20 285.25 Td (\(Registrant's telephone number) Tj ET Q q 0 0 0 rg BT 327.27 285.25 Td (, including ar) Tj ET Q q 0 0 0 rg BT 384.05 285.25 Td (ea code\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.95 261.25 Td (Securities r) Tj ET Q q 0 0 0 rg BT 232.36 261.25 Td (egister) Tj ET Q q 0 0 0 rg BT 260.50 261.25 Td (ed pursuant to Section 12\(b\) of the ) Tj ET Q q 0 0 0 rg BT 409.67 261.25 Td (Act:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 41.5 224.75 m 285.5 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 224.75 m 571.5 224.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.00 229.48 Td (Common Stock, $0.10 par value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 229.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.05 229.48 Td (NASDAQ Global Select Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 122.10 215.48 Td (\(Title of each class\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.00 215.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.80 215.48 Td (\(Name of each exchange on which registered\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.25 187.25 Td (Securities r) Tj ET Q q 0 0 0 rg BT 232.66 187.25 Td (egister) Tj ET Q q 0 0 0 rg BT 260.80 187.25 Td (ed pursuant to Section 12\(g\) of the ) Tj ET Q q 0 0 0 rg BT 409.41 187.25 Td (Act:) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 294.85 161.68505859375 m 317.0716796875 161.68505859375 l s q 0 0 0 rg BT 294.85 163.25 Td (None) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.10 151.25 Td (\(T) Tj ET Q q 0 0 0 rg BT 274.92 151.25 Td (itle of each class\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 127.25 Td (Indicate by check mark if the registrant is a well-known seasoned issuer) Tj ET Q q 0 0 0 rg BT 328.56 127.25 Td (, as defined in Rule 405 of the Securities ) Tj ET Q q 0 0 0 rg BT 492.97 127.25 Td (Act.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 155.80 95.43 Td (YES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.25 95.43 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 180.25 93.27 cm /I4 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 95.43 Td (NO) Tj ET Q /GS0 gs q 10.00 0 0 9.93 434.65 93.27 cm /I5 Do Q /GS0 gs q 10.60 0 0 9.93 444.65 93.27 cm /I6 Do Q BT /F1 10.00 Tf ET endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 742.10 Td (Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15\(d\) of the ) Tj ET Q q 0 0 0 rg BT 501.98 742.10 Td (Act.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.05 710.33 Td (YES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.50 710.33 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 179.00 708.17 cm /I7 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 710.33 Td (NO) Tj ET Q /GS0 gs q 10.00 0 0 9.93 434.65 708.17 cm /I8 Do Q /GS0 gs q 10.60 0 0 9.93 444.65 708.17 cm /I9 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 695.10 Td (Indicate by check mark whether the registrant \(1\) has filed all reports required to be filed by Section 13 or 15\(d\) of the Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 683.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 82.37 683.10 Td (Act of 1934 during the preceding 12 months \(or for such shorter period that the registrant was required to file such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 671.10 Td (reports\), and \(2\) has been subject to such filing requirements for the past 90 days.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.45 639.33 Td (YES) Tj ET Q /GS0 gs q 10.00 0 0 9.93 172.90 637.17 cm /I10 Do Q /GS0 gs q 10.60 0 0 9.93 182.90 637.17 cm /I11 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.25 639.33 Td (NO) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.25 639.33 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 442.75 637.17 cm /I12 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 624.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 612.10 Td (Indicate by check mark whether the registrant has submitted electronically and posted on its corporate ) Tj ET Q q 0 0 0 rg BT 451.51 612.10 Td (W) Tj ET Q q 0 0 0 rg BT 460.15 612.10 Td (eb site, if any) Tj ET Q q 0 0 0 rg BT 513.37 612.10 Td (, every ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 600.10 Td (Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T) Tj ET Q q 0 0 0 rg BT 429.34 600.10 Td ( \(Section 232.405 of this chapter\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 588.10 Td (during the preceding 12 months \(or for such shorter period that the registrant was required to submit and post such files\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.20 556.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.70 556.17 Td (YES) Tj ET Q /GS0 gs q 10.00 0 0 10.09 174.15 554.01 cm /I13 Do Q /GS0 gs q 10.60 0 0 10.09 184.15 554.01 cm /I14 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.25 556.28 Td (NO) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.25 556.28 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 442.75 554.12 cm /I15 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 528.10 Td (Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K \(Section 229.405 of this chapter\) is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 516.10 Td (not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 504.10 Td (incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 416.46 501.94 cm /I16 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 480.10 Td (Indicate by check mark whether the registrant is a lar) Tj ET Q q 0 0 0 rg BT 253.23 480.10 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 328.88 480.10 Td (, an accelerated filer) Tj ET Q q 0 0 0 rg BT 409.53 480.10 Td (, a non-accelerated filer) Tj ET Q q 0 0 0 rg BT 503.50 480.10 Td (, or a smaller ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 468.10 Td (reporting company) Tj ET Q q 0 0 0 rg BT 116.16 468.10 Td (.See the definitions of lar) Tj ET Q q 0 0 0 rg BT 226.22 468.10 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 301.87 468.10 Td (, accelerated filer and smaller reporting company" in Rule ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 456.10 Td (12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 133.75 456.10 Td (Act.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.15 424.28 Td (Large ) Tj ET Q q 0 0 0 rg BT 70.65 424.28 Td (Accelerated Filer) Tj ET Q /GS0 gs q 10.00 0 0 9.93 144.21 422.12 cm /I17 Do Q /GS0 gs q 10.60 0 0 9.93 154.21 422.12 cm /I18 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.50 424.28 Td (Accelerated Filer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.06 424.28 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 252.56 422.12 cm /I19 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.95 424.28 Td (Non-Accelerated Filer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.63 424.28 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 384.13 422.12 cm /I20 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.00 424.28 Td (Smaller) Tj ET Q q 0 0 0 rg BT 446.14 424.28 Td ( Reporting Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 424.28 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 538.65 422.12 cm /I21 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 396.10 Td (Indicate by check mark whether the registrant is a shell company \(as defined in Rule 12b-2 of the ) Tj ET Q q 0 0 0 rg BT 432.54 396.10 Td (Act\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 155.80 364.28 Td (YES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.25 364.28 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 180.25 362.12 cm /I22 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 364.28 Td (NO) Tj ET Q /GS0 gs q 10.00 0 0 9.93 434.65 362.12 cm /I23 Do Q /GS0 gs q 10.60 0 0 9.93 444.65 362.12 cm /I24 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 336.10 Td (The aggregate market value of the registrant's common stock held by non-af) Tj ET Q q 0 0 0 rg BT 345.57 336.10 Td (filiates of the registrant at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.81 336.10 Td (July1, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.98 336.10 Td ( \(the last business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 324.10 Td (day of the registrant) Tj ET Q q 0 0 0 rg BT 124.03 324.10 Td (s most recently completed second quarter\) was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.69 324.10 Td ($1,527,181,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.19 324.10 Td (.) Tj ET Q q 0 0 0 rg BT 383.50 324.10 Td (The stock price used in this computation was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 312.10 Td (the last sales price on that date, as reported by NASDAQ Global Select Market. For purposes of this calculation, the registrant has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 300.10 Td (excluded shares held by executive of) Tj ET Q q 0 0 0 rg BT 188.26 300.10 Td (ficers and directors of the registrant, including restricted shares and except for shares owned by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 288.10 Td (the executive of) Tj ET Q q 0 0 0 rg BT 104.68 288.10 Td (ficers through the registrant's 401\(k\) Plan. Determination of stock ownership by non-af) Tj ET Q q 0 0 0 rg BT 455.38 288.10 Td (filiates was made solely for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 276.10 Td (the purpose of responding to this requirement and the registrant is not bound by this determination for any other purpose.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.15 252.10 Td (Number) Tj ET Q q 0 0 0 rg BT 192.52 252.10 Td ( of shar) Tj ET Q q 0 0 0 rg BT 224.56 252.10 Td (es of common stock outstanding at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.01 252.10 Td (February15, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.06 252.10 Td (:) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 270.2 238.53505859375002 m 315.2 238.53505859375002 l s q 0 0 0 rg BT 270.20 240.10 Td (46,382,586) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 315.2 238.53505859375002 m 344.741015625 238.53505859375002 l s q 0 0 0 rg BT 315.20 240.10 Td ( shar) Tj ET Q q 0 0 0 rg BT 336.41 240.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 216.10 Td (DOCUMENTS INCORPORA) Tj ET Q q 0 0 0 rg BT 162.41 216.10 Td (TED BY) Tj ET Q q 0 0 0 rg BT 197.87 216.10 Td ( REFERENCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 192.10 Td (A) Tj ET Q q 0 0 0 rg BT 47.67 192.10 Td ( portion of the Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 204.31 192.10 Td (Annual Meeting of Shareholders to be held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.04 192.10 Td (May5, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.88 192.10 Td ( \(Part III\).) Tj ET Q endstream endobj 7 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.50 742.25 Td ( FRANKLIN ELECTRIC CO., INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.65 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 258.58 730.25 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.82 730.25 Td ( CONTENTS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 677.75 m 120.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 120.5 677.75 m 514.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 677.75 m 560.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 557.75 m 120.5 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 120.5 557.75 m 514.5 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 382.75 m 120.5 382.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 120.5 382.75 m 514.5 382.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 252.75 m 120.5 252.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 120.5 252.75 m 514.5 252.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.25 698.32 Td (Page) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 683.32 Td (PART I.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.60 683.32 Td (Number) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 653.32 Td (Item 1.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 651.9833984375 m 158.5615234375 651.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 653.32 Td (Business) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 163.50 653.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 638.32 Td (Item 1A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 636.9833984375 m 173.2783203125 636.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 638.32 Td (Risk Factors) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 173.50 638.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 623.32 Td (Item 1B.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 621.9833984375 m 236.69140625 621.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 623.32 Td (Unresolved Staf) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 187.53 623.32 Td (f Comments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 238.50 623.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 608.32 Td (Item 2.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 606.9833984375 m 163.546875 606.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 608.32 Td (Properties) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 168.50 608.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 593.32 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 591.9833984375 m 351.3544921875 591.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 593.32 Td (Supplemental Item - Executive Of) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 260.00 593.32 Td (ficers of the Registrant) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 353.50 593.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 563.32 Td (PART II.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.00 563.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 563.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 533.32 Td (Item 5.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 531.9833984375 m 504.630859375 531.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 533.32 Td (Market for Registrant's Common Equity) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 283.58 533.32 Td (, Related Stockholder Matters, and Issuer Purchases of ) Tj ET Q BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 521.9833984375 m 191.5986328125 521.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 523.32 Td (Equity Securities) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 193.50 523.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 508.32 Td (Item 6.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 506.9833984375 m 217.9609375 506.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 508.32 Td (Selected Financial Data) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 218.50 508.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 493.32 Td (Item 7.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 491.9833984375 m 423.107421875 491.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 493.32 Td (Management's Discussion and ) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 246.17 493.32 Td (Analysis of Financial Condition and Results) Tj ET Q BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 423.107421875 491.9833984375 m 480.314453125 491.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 423.11 493.32 Td ( of Operations) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 483.50 493.32 Td (. . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 478.32 Td (Item 7A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 476.9833984375 m 364.62109375 476.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 478.32 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 287.40 478.32 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 368.50 478.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 463.32 Td (Item 8.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 461.9833984375 m 307.951171875 461.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 463.32 Td (Financial Statements and Supplementary Data) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 308.50 463.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 448.32 Td (Item 9.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 446.9833984375 m 481.8134765625 446.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 448.32 Td (Changes in and Disagreements with ) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 268.81 448.32 Td (Accountants on ) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 333.24 448.32 Td (Accounting and Financial Disclosure) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 483.50 448.32 Td (. . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 433.32 Td (Item 9A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 431.9833984375 m 221.3154296875 431.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 433.32 Td (Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 223.50 433.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 418.32 Td (Item 9B.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 416.9833984375 m 196.0322265625 416.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 418.32 Td (Other Information) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 198.50 418.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 403.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.00 403.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 403.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 388.32 Td (PART III.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 388.32 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 521.00 388.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 358.32 Td (Item 10.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 356.9833984375 m 352.9951171875 356.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 358.32 Td (Directors, Executive Of) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 218.06 358.32 Td (ficers, and Corporate Governance) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 353.50 358.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 343.32 Td (Item 11.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 341.9833984375 m 223.25390625 341.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 343.32 Td (Executive Compensation) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 223.50 343.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 328.32 Td (Item 12.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 326.9833984375 m 497.609375 326.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 328.32 Td (Security Ownership of Certain Beneficial Owners and Management and Related Stockholder ) Tj ET Q BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 316.9833984375 m 153.546875 316.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 318.32 Td (Matters) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 158.50 318.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 303.32 Td (Item 13.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 301.9833984375 m 425.6953125 301.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 303.32 Td (Certain Relationships and Related ) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 261.68 303.32 Td (T) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 267.43 303.32 Td (ransactions, and Director Independence) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 428.50 303.32 Td (. . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 288.32 Td (Item 14.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 286.9833984375 m 284.3525390625 286.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 288.32 Td (Principal ) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 161.05 288.32 Td (Accounting Fees and Services) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 283.50 288.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 273.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.00 273.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 273.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 258.32 Td (PART IV.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.00 258.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 258.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.00 228.32 Td (Item 15.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 123 226.9833984375 m 284.083984375 226.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 123.00 228.32 Td (Exhibits, Financial Statement Schedules) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 288.50 228.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 51 196.9833984375 m 93.216796875 196.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 51.00 198.32 Td (Signatures) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 94.50 198.32 Td (. . . . .) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.2823529411764706 0.5686274509803921 1 rg BT 123.00 198.32 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 123.50 198.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 51 166.9833984375 m 105.7119140625 166.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 51.00 168.32 Td (Exhibit Index) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 109.50 168.32 Td (. .) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.2823529411764706 0.5686274509803921 1 rg BT 123.00 168.32 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 123.50 168.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.25 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 536.5 651.9833984375 m 541.5 651.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 536.50 653.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 536.5 636.9833984375 m 541.5 636.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 536.50 638.32 Td (7) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 621.9833984375 m 544 621.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 623.32 Td (10) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 606.9833984375 m 544 606.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 608.32 Td (10) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534.15 591.9833984375 m 543.77890625 591.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.15 593.32 Td (1) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 538.78 593.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 531.9833984375 m 544 531.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 533.32 Td (12) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 506.9833984375 m 544 506.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 508.32 Td (14) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 491.9833984375 m 544 491.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 493.32 Td (16) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 476.9833984375 m 544 476.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 478.32 Td (31) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 461.9833984375 m 544 461.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 463.32 Td (32) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 446.9833984375 m 544 446.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 448.32 Td (67) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 431.9833984375 m 544 431.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 433.32 Td (67) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 416.9833984375 m 544 416.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 418.32 Td (69) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 356.9833984375 m 544 356.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 358.32 Td (70) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 341.9833984375 m 544 341.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 343.32 Td (70) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 326.9833984375 m 544 326.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 328.32 Td (70) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 301.9833984375 m 544 301.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 303.32 Td (70) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 286.9833984375 m 544 286.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 288.32 Td (70) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 534 226.9833984375 m 544 226.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 228.32 Td (71) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0.11372549019607843 0.07058823529411765 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 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BUSINESS) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 699.28505859375 m 165.283203125 699.28505859375 l s q 0 0 0 rg BT 50.00 700.85 Td (Description of the Business) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.85 Td (Franklin Electric Co., Inc. \(Franklin Electric or the Company\) is an Indiana corporation founded in 1944 and incorporated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.85 Td (in 1946. Named after ) Tj ET Q q 0 0 0 rg BT 139.42 676.85 Td (America) Tj ET Q q 0 0 0 rg BT 176.62 676.85 Td (s pioneer electrical engineer) Tj ET Q q 0 0 0 rg BT 288.66 676.85 Td (, Benjamin Franklin, Franklin Electric manufactured the first water) Tj ET Q q 0 0 0 rg BT 556.70 676.85 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.85 Td (lubricated submersible motor for water systems, and the first submersible motor for fueling systems. ) Tj ET Q q 0 0 0 rg BT 456.68 664.85 Td (W) Tj ET Q q 0 0 0 rg BT 465.72 664.85 Td (ith 2016 revenue of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.85 Td ($949.9 million and approximately 5,200 employees, today the Company designs, manufactures and distributes water and fuel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.85 Td (pumping systems, composed primarily of submersible motors, pumps, electronic controls and related parts and equipment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.85 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 616.85 Td (s water pumping systems move fresh and waste water for the housing, agriculture, and other industrial end ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.85 Td (markets. ) Tj ET Q q 0 0 0 rg BT 88.97 604.85 Td (W) Tj ET Q q 0 0 0 rg BT 98.01 604.85 Td (ith a growing global footprint, the Company has also evolved into being a top supplier of submersible fueling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.85 Td (systems at gas stations, making pumps, pipes, electronic controls, and monitoring devices. Fuel pumping systems account for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.85 Td (the balance of the Company) Tj ET Q q 0 0 0 rg BT 164.96 580.85 Td (s revenues. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.85 Td (The Company's products are sold worldwide by its employee sales force and independent manufacturing representatives. ) Tj ET Q q 0 0 0 rg BT 538.42 556.85 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.85 Td (Company of) Tj ET Q q 0 0 0 rg BT 99.54 544.85 Td (fers normal and customary trade terms to its customers, no significant part of which is of an extended nature. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.85 Td (Special inventory requirements are not necessary) Tj ET Q q 0 0 0 rg BT 245.66 532.85 Td (, and customer merchandise return rights do not extend beyond normal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.85 Td (warranty provisions.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 489.88505859375 m 234.6826171875 489.88505859375 l s q 0 0 0 rg BT 50.00 491.45 Td (Franklin Electric) Tj ET Q q 0 0 0 rg BT 126.56 491.45 Td (s Key Factors for) Tj ET Q q 0 0 0 rg BT 199.96 491.45 Td ( Success) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.45 Td (While maintaining a culture of safety and lean principals, Franklin Electric promises to deliver quality) Tj ET Q q 0 0 0 rg BT 458.39 479.45 Td (, availability) Tj ET Q q 0 0 0 rg BT 507.72 479.45 Td (, service, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.45 Td (innovation, and value in every encounter the Company has with stakeholders, including direct or indirect customers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.45 Td (employees, shareholders, and suppliers. ) Tj ET Q q 0 0 0 rg BT 213.67 455.45 Td (These key factors for success are a roadmap to ensure the Company consistently of) Tj ET Q q 0 0 0 rg BT 545.87 455.45 Td (fers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.45 Td (the best value to its customer) Tj ET Q q 0 0 0 rg BT 165.81 443.45 Td (.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 412.48505859375 m 160.5712890625 412.48505859375 l s q 0 0 0 rg BT 50.00 414.05 Td (Markets and ) Tj ET Q q 0 0 0 rg BT 106.67 414.05 Td (Applications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.05 Td (The Company's business consists of two reporting segments based on the principal end market served: the ) Tj ET Q q 0 0 0 rg BT 476.53 402.05 Td (W) Tj ET Q q 0 0 0 rg BT 485.17 402.05 Td (ater Systems ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.05 Td (segment and the Fueling Systems segment. ) Tj ET Q q 0 0 0 rg BT 227.02 390.05 Td (The Company includes unallocated corporate expenses in an Other segment that, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.05 Td (together with the ) Tj ET Q q 0 0 0 rg BT 120.08 378.05 Td (W) Tj ET Q q 0 0 0 rg BT 128.72 378.05 Td (ater Systems and Fueling Systems segments, represent the Company) Tj ET Q q 0 0 0 rg BT 402.19 378.05 Td (. Segment and geographic information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.05 Td (appears in Note 16, Segment and Geographic Information to the consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.05 Td (The market for the Company's products is highly competitive and includes diversified accounts by size and type. ) Tj ET Q q 0 0 0 rg BT 505.67 342.05 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.05 Td (Company's ) Tj ET Q q 0 0 0 rg BT 96.90 330.05 Td (W) Tj ET Q q 0 0 0 rg BT 105.54 330.05 Td (ater Systems and Fueling Systems products and related equipment are sold to specialty distributors and some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.05 Td (original equipment manufacturers \(OEMs\), as well as industrial and petroleum equipment distributors and major oil and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.05 Td (utility companies.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 282.05 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 282.05 Td (ater Systems Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.05 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 270.05 Td (ater Systems is a global leader in the production and marketing of water pumping systems and is a technical leader in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.05 Td (submersible motors, pumps, drives, electronic controls, and monitoring devices. ) Tj ET Q q 0 0 0 rg BT 375.03 258.05 Td (The ) Tj ET Q q 0 0 0 rg BT 392.90 258.05 Td (W) Tj ET Q q 0 0 0 rg BT 401.54 258.05 Td (ater Systems segment designs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.05 Td (manufactures and sells motors, pumps, electronic controls and related parts and equipment primarily for use in groundwater) Tj ET Q q 0 0 0 rg BT 545.01 246.05 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.05 Td (wastewater) Tj ET Q q 0 0 0 rg BT 94.58 234.05 Td (, and fuel transfer applications. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.05 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 210.05 Td (ater Systems motors and pumps are used principally for pumping clean water and wastewater in a variety of residential, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.05 Td (agricultural, and industrial applications. ) Tj ET Q q 0 0 0 rg BT 213.94 198.05 Td (W) Tj ET Q q 0 0 0 rg BT 222.58 198.05 Td (ater Systems also manufactures electronic drives and controls for the motors which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.05 Td (control functionality and provide protection from various hazards, such as electric sur) Tj ET Q q 0 0 0 rg BT 392.49 186.05 Td (ges, over) Tj ET Q q 0 0 0 rg BT 428.38 186.05 Td (-heating, or dry wells or tanks. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.05 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 162.05 Td (W) Tj ET Q q 0 0 0 rg BT 76.50 162.05 Td (ater Systems business has grown from a domestic submersible motor manufacturer to a global manufacturer of systems ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.05 Td (and components for the movement of water and automotive fuels. Founded in the 1940s, the Company made submersible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.05 Td (motors for pumps for much of its history) Tj ET Q q 0 0 0 rg BT 212.39 138.05 Td (. ) Tj ET Q q 0 0 0 rg BT 216.84 138.05 Td (About 10 years ago, it entered the pump business, and has since grown through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.85 Td (acquisitions. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 102.77 124.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.52 124.85 Td (Highlights of the ) Tj ET Q q 0 0 0 rg BT 175.62 124.85 Td (W) Tj ET Q q 0 0 0 rg BT 184.25 124.85 Td (ater Systems business transformation, from its origins to the present, are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 100.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 100.85 Td (1950s - Domestic submersible motor manufacturer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 88.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 88.85 Td (1990s - Global manufacturer of submersible motors, electronic drives and controls selling to pump OEMs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 76.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 76.85 Td (2004 - Began to change the business model to include pumps and sell directly to wholesale distributors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 64.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 64.85 Td (2006 - ) Tj ET Q q 0 0 0 rg BT 113.78 64.85 Td (Added adjacent pumping systems, acquired Little Giant Pump Company) Tj ET Q q 0 0 0 rg BT 403.35 64.85 Td (, United States) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 52.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 52.85 Td (2007 - Expanded globally) Tj ET Q q 0 0 0 rg BT 188.94 52.85 Td (, acquired Pump Brands \(Pty\) Limited, South ) Tj ET Q q 0 0 0 rg BT 371.98 52.85 Td (Africa) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (2008 - Continued global expansion, acquired Industrias Schneider SA, Brazil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (2009 - International acquisition, ) Tj ET Q q 0 0 0 rg BT 216.62 730.10 Td (V) Tj ET Q q 0 0 0 rg BT 222.73 730.10 Td (ertical, S.p.A., Italy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (201) Tj ET Q q 0 0 0 rg BT 100.63 718.10 Td (1 - International acquisition, Impo Motor Pompa Sanayi ve ) Tj ET Q q 0 0 0 rg BT 339.29 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 345.05 718.10 Td (icaret ) Tj ET Q q 0 0 0 rg BT 369.20 718.10 Td (A.S., ) Tj ET Q q 0 0 0 rg BT 391.80 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 397.56 718.10 Td (urkey ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (2012 - ) Tj ET Q q 0 0 0 rg BT 113.78 706.10 Td (Acquired majority interest, 70.5%, in mobile pumping systems company) Tj ET Q q 0 0 0 rg BT 403.92 706.10 Td (, Pioneer Pump Holdings, Inc. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (\("PPH"\), a United States company with subsidiaries in the United Kingdom and South ) Tj ET Q q 0 0 0 rg BT 433.58 694.10 Td (Africa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (2014 - International acquisitions, Bombas Leao S.A., Brazil and majority interest, 70%, of Pluga Pumps and Motors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (Private Limited, India) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (2015 - ) Tj ET Q q 0 0 0 rg BT 113.78 658.10 Td (Acquired remaining 29.5% noncontrolling interest of PPH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 634.10 Td (ater Systems products are sold in highly competitive markets. ) Tj ET Q q 0 0 0 rg BT 309.79 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 318.43 634.10 Td (ater) Tj ET Q q 0 0 0 rg BT 333.22 634.10 Td (-pumping systems contribute about 75 to 80 percent of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (revenue. Significant portions of segment revenue come from selling groundwater and surface pumps to residential and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (commercial buildings, as well as agricultural sales which are more seasonal and subject to commodity price changes. ) Tj ET Q q 0 0 0 rg BT 523.00 610.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 598.10 Td (ater segment generates 40 percent of its revenue in developing markets, which often lack municipal water systems. ) Tj ET Q q 0 0 0 rg BT 519.87 598.10 Td (As those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (countries bring systems up to date, the Company views those markets as an opportunity) Tj ET Q q 0 0 0 rg BT 399.85 586.10 Td (. ) Tj ET Q q 0 0 0 rg BT 404.67 586.10 Td (The Company has had 15 to 20 percent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (compounded annual sales growth in those regions in recent years. ) Tj ET Q q 0 0 0 rg BT 317.52 574.10 Td (W) Tj ET Q q 0 0 0 rg BT 326.16 574.10 Td (ater Systems competes in each of its tar) Tj ET Q q 0 0 0 rg BT 483.99 574.10 Td (geted markets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (based on product design, quality of products and services, performance, availability) Tj ET Q q 0 0 0 rg BT 383.97 562.10 Td (, and price. ) Tj ET Q q 0 0 0 rg BT 433.21 562.10 Td (The Company's principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (competitors in the specialty water products industry are Grundfos Management ) Tj ET Q q 0 0 0 rg BT 368.80 550.10 Td (A/S, Pentair) Tj ET Q q 0 0 0 rg BT 417.29 550.10 Td (, Inc., and Xylem, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 72.32 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 80.96 526.10 Td (ater Systems research and development expenditures were primarily related to the following activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.10 Td (Electronic drives and controls for submersible pumping, above-ground pumping, and HV) Tj ET Q q 0 0 0 rg BT 442.41 502.10 Td (AC applications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 488.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 488.90 Td (Solar pumping technology) Tj ET Q q 0 0 0 rg BT 191.45 488.90 Td (, including new models and new ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.37 488.90 Td (accessorie) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.56 488.90 Td (s for the Fhoton Solar Pumping Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 476.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 476.90 Td (Submersible and surface pumps for agricultural and municipal applications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 464.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 464.90 Td (Gray water pumping equipment, including the redesigned PowerSewer Systems and the IGPDS series dual seal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 452.90 Td (grinder pumps) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 440.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 440.90 Td (Condensate removal pumps, including the ) Tj ET Q q 0 0 0 rg BT 256.90 440.90 Td (VCC-20-P) Tj ET Q q 0 0 0 rg BT 299.31 440.90 Td ( designed for use in plenum applications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 428.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 428.90 Td (Submersible motor technology and motor protection, including ultra-ef) Tj ET Q q 0 0 0 rg BT 370.20 428.90 Td (ficient permanent magnet motors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 416.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 416.90 Td (Artificial Lift systems for gas well dewatering and oil pumping, including new pump shrouds, abrasion resistant pump ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 404.90 Td (geometries, pumps for improved oil handling, and drives for deeper set pumps) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 380.90 Td (Fueling Systems Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 368.90 Td (Fueling Systems is a global leader in the production and marketing of fuel pumping systems, fuel containment systems, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 356.90 Td (monitoring and control systems. ) Tj ET Q q 0 0 0 rg BT 183.70 356.90 Td (The Fueling Systems segment designs, manufactures and sells pumps, pipe, sumps, fittings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 344.90 Td (vapor recovery components, electronic controls, monitoring devices and related parts and equipment primarily for use in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 332.90 Td (submersible fueling system applications.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.90 Td (Fueling Systems has expanded its product of) Tj ET Q q 0 0 0 rg BT 228.69 308.90 Td (ferings through internal development and acquisitions. Highlights of the Fueling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.90 Td (Systems history are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 272.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 272.90 Td (1990s - Domestic manufacturer of submersible turbine pumping systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 260.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 260.90 Td (2000 - ) Tj ET Q q 0 0 0 rg BT 113.78 260.90 Td (Acquired ) Tj ET Q q 0 0 0 rg BT 152.93 260.90 Td (Advanced Polymer ) Tj ET Q q 0 0 0 rg BT 232.18 260.90 Td (T) Tj ET Q q 0 0 0 rg BT 237.59 260.90 Td (echnology) Tj ET Q q 0 0 0 rg BT 278.59 260.90 Td (, Inc., a manufacturer of under) Tj ET Q q 0 0 0 rg BT 400.02 260.90 Td (ground pipe for fueling applications, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 248.90 Td (and EBW) Tj ET Q q 0 0 0 rg BT 124.24 248.90 Td (, Inc., a manufacturer and distributor of fueling hardware components) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 236.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 236.90 Td (2006 - ) Tj ET Q q 0 0 0 rg BT 113.78 236.90 Td (Acquired Healy Systems, Inc., a manufacturer of fueling nozzles and vapor recovery systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 224.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 224.90 Td (2010 - ) Tj ET Q q 0 0 0 rg BT 113.78 224.90 Td (Acquired PetroT) Tj ET Q q 0 0 0 rg BT 180.00 224.90 Td (echnik Limited, a United Kingdom distributor that designs and sources flexible and lightweight ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 212.90 Td (under) Tj ET Q q 0 0 0 rg BT 108.59 212.90 Td (ground pipe) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 200.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 200.90 Td (2012 - ) Tj ET Q q 0 0 0 rg BT 113.78 200.90 Td (Acquired Flexing, Inc., a manufacturer of fueling equipment including stainless steel flexible hose connectors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 188.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 188.90 Td (2014 - ) Tj ET Q q 0 0 0 rg BT 113.78 188.90 Td (Acquired majority interest, 65%, in ) Tj ET Q q 0 0 0 rg BT 257.73 188.90 Td (W) Tj ET Q q 0 0 0 rg BT 266.37 188.90 Td (adcorpp India Private Limited, India, a distributor of fueling equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 176.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.90 Td (Fueling Systems products are sold in highly competitive markets. Rising car use is leading to more investment in gas stations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.90 Td (which, in turn, leads to increased demand for the Company) Tj ET Q q 0 0 0 rg BT 289.10 152.90 Td (s Fueling Systems products. ) Tj ET Q q 0 0 0 rg BT 406.15 152.90 Td (The Company believes there is growth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.90 Td (opportunity in developing markets and, accordingly) Tj ET Q q 0 0 0 rg BT 256.52 140.90 Td (, acquired an investment in India in 2014. Fueling Systems competes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.90 Td (each of its tar) Tj ET Q q 0 0 0 rg BT 103.96 128.90 Td (geted markets based on product design, quality of products and services, performance, availability) Tj ET Q q 0 0 0 rg BT 496.24 128.90 Td (, and price. ) Tj ET Q q 0 0 0 rg BT 545.48 128.90 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.90 Td (Company's principal competitors in the petroleum equipment industry are Danaher Corporation and Dover Corporation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.90 Td (2016 Fueling Systems research and development expenditures were primarily related to the following activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 68.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 68.90 Td (Development of a new automatic tank gauge platform) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 56.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 56.90 Td (Development of a pumping system for alternative fuels) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Development of new fuel dispensing nozzles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (Software enhancements to automatic tank gauges) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 699.13505859375 m 257.7685546875 699.13505859375 l s q 0 0 0 rg BT 50.00 700.70 Td (Information Regarding ) Tj ET Q q 0 0 0 rg BT 151.67 700.70 Td (All Reportable Segments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 688.70 Td (Research and Development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.70 Td (The Company incurred research and development expense as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 639.20 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 639.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 639.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 639.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 639.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 639.20 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 639.2 m 423.5 639.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 639.2 m 492.5 639.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 639.2 m 561.5 639.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 639.2 m 423.5 639.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 639.2 m 492.5 639.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 639.2 m 561.5 639.2 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 643.87 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 643.87 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 643.87 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 643.87 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 628.87 Td (Research and development expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 628.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 628.87 Td (21.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 628.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 628.87 Td (18.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 628.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 628.87 Td (19.3) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 600.70 Td (Expenses incurred were for activities related to the development of new products, improvement of existing products and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 588.70 Td (manufacturing methods, and other applied research and development.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.70 Td (The Company owns a number of patents, trademarks, and licenses.In the aggregate, these patents are of material importance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 552.70 Td (to the operation of the business; however) Tj ET Q q 0 0 0 rg BT 214.00 552.70 Td (, the Company believes that its operations are not dependent on any single patent or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 540.70 Td (group of patents.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 516.70 Td (Raw Materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 504.70 Td (The principal raw materials used in the manufacture of the Company) Tj ET Q q 0 0 0 rg BT 328.24 504.70 Td (s products are coil and bar steel, stainless steel, copper ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 492.70 Td (wire, and aluminum ingot. Major components are electric motors, capacitors, motor protectors, for) Tj ET Q q 0 0 0 rg BT 446.37 492.70 Td (gings, gray iron castings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 480.70 Td (plastic resins, and bearings. Most of these raw materials are available from multiple sources in the United States and world ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 468.70 Td (markets. Generally) Tj ET Q q 0 0 0 rg BT 127.93 468.70 Td (, the Company believes that adequate alternative sources are available for the majority of its key raw ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 456.70 Td (material and purchased component needs; however) Tj ET Q q 0 0 0 rg BT 254.24 456.70 Td (, the Company is dependent on a single or limited number of suppliers for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.70 Td (certain materials or components. ) Tj ET Q q 0 0 0 rg BT 184.96 444.70 Td (A) Tj ET Q q 0 0 0 rg BT 191.44 444.70 Td (vailability of fuel and ener) Tj ET Q q 0 0 0 rg BT 297.32 444.70 Td (gy is adequate to satisfy current and projected overall operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.70 Td (unless interrupted by government direction or allocation.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 408.70 Td (Major Customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.70 Td (No single customer accounted for over 10 percent of net sales in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.91 396.70 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.91 396.70 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.91 396.70 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.91 396.70 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.74 396.70 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.74 396.70 Td (. No single customer accounted for over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.70 Td (10 percent of gross accounts receivable in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.21 384.70 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.21 384.70 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.65 384.70 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 384.70 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 360.70 Td (Backlog) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.70 Td (The dollar amount of backlog by segment was as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 301.20 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 301.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 301.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 301.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 271.20 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 271.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 271.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 271.20 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 301.20000000000005 m 492.5 301.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 301.20000000000005 m 561.5 301.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 301.20000000000005 m 492.5 301.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 301.20000000000005 m 561.5 301.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 271.20000000000005 m 492.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 271.20000000000005 m 561.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 271.20000000000005 m 492.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 257.20000000000005 m 492.5 257.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 255.20000000000005 m 492.5 255.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 271.20000000000005 m 561.5 271.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 257.20000000000005 m 561.5 257.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 255.20000000000005 m 561.5 255.20000000000005 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 305.87 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.95 315.87 Td (February 15,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 305.87 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.95 315.87 Td (February 17,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 305.87 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 290.87 Td (Water Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 290.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 290.87 Td (39.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 290.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 290.87 Td (44.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 275.87 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 275.87 Td (25.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 275.87 Td (15.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 260.87 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 260.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 260.87 Td (64.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 260.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 260.87 Td (59.4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.70 Td (The backlog is composed of written orders at prices adjustable on a price-at-the-time-of-shipment basis for products, primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.70 Td (standard catalog items. ) Tj ET Q q 0 0 0 rg BT 146.36 220.70 Td (All backlog orders are expected to be filled in fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.28 220.70 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.28 220.70 Td (.) Tj ET Q q 0 0 0 rg BT 383.60 220.70 Td (The Company) Tj ET Q q 0 0 0 rg BT 443.31 220.70 Td (s sales in the first quarter are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.70 Td (generally less than its sales in other quarters due to generally less water well drilling and overall product sales during the winter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.70 Td (months in the Northern hemisphere. Beyond that, there is no seasonal pattern to the backlog and the backlog has not proven to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.70 Td (be a significant indicator of future sales.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 160.70 Td (Environmental Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.70 Td (The Company believes that it is in compliance with all applicable federal, state, and local laws concerning the dischar) Tj ET Q q 0 0 0 rg BT 520.77 148.70 Td (ge of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.70 Td (material into the environment, or otherwise relating to the protection of the environment. ) Tj ET Q q 0 0 0 rg BT 410.27 136.70 Td (The Company has not experienced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.70 Td (any material costs in connection with environmental compliance, and does not believe that such compliance will have any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.70 Td (material ef) Tj ET Q q 0 0 0 rg BT 92.85 112.70 Td (fect upon the financial position, results of operations, cash flows, or competitive position of the Company) Tj ET Q q 0 0 0 rg BT 514.89 112.70 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 88.70 Td (A) Tj ET Q q 0 0 0 rg BT 55.93 88.70 Td (vailable Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.70 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 76.70 Td (s website address is ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 190.81 76.70 Td (www) Tj ET Q q 0 0 0 rg BT 210.08 76.70 Td (.franklin-electric.com) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.71 76.70 Td (. ) Tj ET Q q 0 0 0 rg BT 304.03 76.70 Td (The Company makes available free of char) Tj ET Q q 0 0 0 rg BT 476.00 76.70 Td (ge on or through its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.70 Td (website its annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and all amendments to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.70 Td (those reports, as soon as reasonably practicable after such material is electronically filed with or furnished to the Securities and ) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Exchange Commission. ) Tj ET Q q 0 0 0 rg BT 149.44 742.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 199.34 742.10 Td (, the Company) Tj ET Q q 0 0 0 rg BT 260.72 742.10 Td (s website includes the Company) Tj ET Q q 0 0 0 rg BT 392.37 742.10 Td (s corporate governance guidelines, its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Board committee charters, and the Company) Tj ET Q q 0 0 0 rg BT 231.61 730.10 Td (s code of business conduct and ethics. Information contained on the Company) Tj ET Q q 0 0 0 rg BT 549.04 730.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (website is not part of this annual report on Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (ITEM 1A. RISK F) Tj ET Q q 0 0 0 rg BT 128.71 694.10 Td (ACT) Tj ET Q q 0 0 0 rg BT 149.64 694.10 Td (ORS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (The following describes the principal risks af) Tj ET Q q 0 0 0 rg BT 230.88 670.10 Td (fecting the Company and its business.) Tj ET Q q 0 0 0 rg BT 386.97 670.10 Td (Additional risks and uncertainties, not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (presently known to the Company) Tj ET Q q 0 0 0 rg BT 182.11 658.10 Td (, could negatively impact the Company) Tj ET Q q 0 0 0 rg BT 342.07 658.10 Td (s results of operations or financial condition in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (future.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 620.53505859375 m 175.009765625 620.53505859375 l s q 0 0 0 rg BT 50.00 622.10 Td (Risks Related to the Industry) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Reduced housing starts adversely af) Tj ET Q q 0 0 0 rg BT 197.60 598.10 Td (fect demand for the Company) Tj ET Q q 0 0 0 rg BT 322.40 598.10 Td (s products, thereby reducing revenues and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (earnings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.62 586.10 Td (Demand for certain Company products is af) Tj ET Q q 0 0 0 rg BT 268.95 586.10 Td (fected by housing starts. ) Tj ET Q q 0 0 0 rg BT 370.97 586.10 Td (V) Tj ET Q q 0 0 0 rg BT 377.08 586.10 Td (ariation in housing starts due to economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (volatility both within the United States and globally could adversely impact gross mar) Tj ET Q q 0 0 0 rg BT 394.20 574.10 Td (gins and operating results.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (The Company's results may be adversely af) Tj ET Q q 0 0 0 rg BT 227.58 550.10 Td (fected by global macroeconomic supply and demand conditions related to the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 536.90 Td (energy and mining industries.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 175.86 536.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.61 536.90 Td (The ener) Tj ET Q q 0 0 0 rg BT 213.68 536.90 Td (gy and mining industries are users of the Company's products, including the coal, iron ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 524.90 Td (ore, gold, copper) Tj ET Q q 0 0 0 rg BT 117.35 524.90 Td (, oil, and natural gas industries. Decisions to purchase the Company's products are dependent upon the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 512.90 Td (performance of the industries in which our customers operate. If demand or output in these industries increases, the demand for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 500.90 Td (our products will generally increase. Likewise, if demand or output in these industries declines, the demand for our products ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 488.90 Td (will generally decrease. ) Tj ET Q q 0 0 0 rg BT 146.99 488.90 Td (The ener) Tj ET Q q 0 0 0 rg BT 182.07 488.90 Td (gy and mining industries' demand and output are impacted by the prices of commodities in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 476.90 Td (these industries which are frequently volatile and change in response to general economic conditions, economic growth, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 464.90 Td (commodity inventories, and any disruptions in production or distribution. Changes in these conditions could adversely impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 452.90 Td (sales, gross mar) Tj ET Q q 0 0 0 rg BT 113.42 452.90 Td (gin, and operating results. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 427.33505859375 m 174.4580078125 427.33505859375 l s q 0 0 0 rg BT 50.00 428.90 Td (Risks Related to the Business) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 404.90 Td (The Company is exposed to political, economic and other risks that arise from operating a multinational business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.94 404.90 Td () Tj ET Q q 0 0 0 rg BT 523.75 404.90 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 392.90 Td (Company has significant operations outside the United States, including Europe, South ) Tj ET Q q 0 0 0 rg BT 400.23 392.90 Td (Africa, Brazil, Mexico, India, China, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 380.90 Td (and ) Tj ET Q q 0 0 0 rg BT 66.76 380.90 Td (T) Tj ET Q q 0 0 0 rg BT 72.51 380.90 Td (urkey) Tj ET Q q 0 0 0 rg BT 94.63 380.90 Td (.Further) Tj ET Q q 0 0 0 rg BT 131.17 380.90 Td (, the Company obtains raw materials and finished goods from foreign suppliers.) Tj ET Q q 0 0 0 rg BT 454.72 380.90 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 504.06 380.90 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 368.90 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 368.90 Td (s business is subject to political, economic, and other risks that are inherent in operating a multinational ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 356.90 Td (business.) Tj ET Q q 0 0 0 rg BT 91.21 356.90 Td (These risks include, but are not limited to, the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 344.90 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 332.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 332.90 Td (Dif) Tj ET Q q 0 0 0 rg BT 108.15 332.90 Td (ficulty ) Tj ET Q q 0 0 0 rg BT 136.75 332.90 Td (in ) Tj ET Q q 0 0 0 rg BT 147.03 332.90 Td (enforcing ) Tj ET Q q 0 0 0 rg BT 187.85 332.90 Td (agreements ) Tj ET Q q 0 0 0 rg BT 235.88 332.90 Td (and ) Tj ET Q q 0 0 0 rg BT 252.82 332.90 Td (collecting ) Tj ET Q q 0 0 0 rg BT 294.75 332.90 Td (receivables ) Tj ET Q q 0 0 0 rg BT 342.22 332.90 Td (through ) Tj ET Q q 0 0 0 rg BT 375.83 332.90 Td (foreign ) Tj ET Q q 0 0 0 rg BT 407.20 332.90 Td (legal ) Tj ET Q q 0 0 0 rg BT 429.14 332.90 Td (systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 320.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 320.90 Td (T) Tj ET Q q 0 0 0 rg BT 100.76 320.90 Td (rade ) Tj ET Q q 0 0 0 rg BT 120.46 320.90 Td (protection ) Tj ET Q q 0 0 0 rg BT 163.51 320.90 Td (measures ) Tj ET Q q 0 0 0 rg BT 203.21 320.90 Td (and ) Tj ET Q q 0 0 0 rg BT 220.15 320.90 Td (import ) Tj ET Q q 0 0 0 rg BT 249.32 320.90 Td (or ) Tj ET Q q 0 0 0 rg BT 260.15 320.90 Td (export ) Tj ET Q q 0 0 0 rg BT 288.19 320.90 Td (licensing ) Tj ET Q q 0 0 0 rg BT 326.80 320.90 Td (requirements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 308.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 308.90 Td (Inability ) Tj ET Q q 0 0 0 rg BT 131.38 308.90 Td (to ) Tj ET Q q 0 0 0 rg BT 141.66 308.90 Td (obtain ) Tj ET Q q 0 0 0 rg BT 169.16 308.90 Td (raw ) Tj ET Q q 0 0 0 rg BT 186.65 308.90 Td (materials ) Tj ET Q q 0 0 0 rg BT 225.80 308.90 Td (and ) Tj ET Q q 0 0 0 rg BT 242.73 308.90 Td (finished ) Tj ET Q q 0 0 0 rg BT 277.45 308.90 Td (goods ) Tj ET Q q 0 0 0 rg BT 303.84 308.90 Td (in ) Tj ET Q q 0 0 0 rg BT 314.12 308.90 Td (a ) Tj ET Q q 0 0 0 rg BT 321.06 308.90 Td (timely ) Tj ET Q q 0 0 0 rg BT 349.11 308.90 Td (manner ) Tj ET Q q 0 0 0 rg BT 381.60 308.90 Td (from ) Tj ET Q q 0 0 0 rg BT 403.54 308.90 Td (foreign ) Tj ET Q q 0 0 0 rg BT 434.91 308.90 Td (suppliers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 296.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 296.90 Td (Imposition ) Tj ET Q q 0 0 0 rg BT 140.83 296.90 Td (of ) Tj ET Q q 0 0 0 rg BT 151.67 296.90 Td (tarif) Tj ET Q q 0 0 0 rg BT 168.14 296.90 Td (fs, ) Tj ET Q q 0 0 0 rg BT 180.36 296.90 Td (exchange ) Tj ET Q q 0 0 0 rg BT 220.62 296.90 Td (controls ) Tj ET Q q 0 0 0 rg BT 255.33 296.90 Td (or ) Tj ET Q q 0 0 0 rg BT 266.16 296.90 Td (other ) Tj ET Q q 0 0 0 rg BT 289.21 296.90 Td (restrictions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 284.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 284.90 Td (Dif) Tj ET Q q 0 0 0 rg BT 108.15 284.90 Td (ficulty ) Tj ET Q q 0 0 0 rg BT 136.75 284.90 Td (in ) Tj ET Q q 0 0 0 rg BT 147.03 284.90 Td (staf) Tj ET Q q 0 0 0 rg BT 161.29 284.90 Td (fing ) Tj ET Q q 0 0 0 rg BT 179.90 284.90 Td (and ) Tj ET Q q 0 0 0 rg BT 196.84 284.90 Td (managing ) Tj ET Q q 0 0 0 rg BT 238.77 284.90 Td (widespread ) Tj ET Q q 0 0 0 rg BT 286.81 284.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 330.96 284.90 Td (and ) Tj ET Q q 0 0 0 rg BT 347.90 284.90 Td (the ) Tj ET Q q 0 0 0 rg BT 362.62 284.90 Td (application ) Tj ET Q q 0 0 0 rg BT 409.55 284.90 Td (of ) Tj ET Q q 0 0 0 rg BT 420.38 284.90 Td (foreign ) Tj ET Q q 0 0 0 rg BT 451.75 284.90 Td (labor ) Tj ET Q q 0 0 0 rg BT 474.80 284.90 Td (regulations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 272.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 272.90 Td (Compliance ) Tj ET Q q 0 0 0 rg BT 145.82 272.90 Td (with ) Tj ET Q q 0 0 0 rg BT 166.10 272.90 Td (foreign ) Tj ET Q q 0 0 0 rg BT 197.48 272.90 Td (laws ) Tj ET Q q 0 0 0 rg BT 218.31 272.90 Td (and ) Tj ET Q q 0 0 0 rg BT 235.24 272.90 Td (regulations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 260.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 260.90 Td (Changes ) Tj ET Q q 0 0 0 rg BT 131.94 260.90 Td (in ) Tj ET Q q 0 0 0 rg BT 142.22 260.90 Td (general ) Tj ET Q q 0 0 0 rg BT 174.14 260.90 Td (economic ) Tj ET Q q 0 0 0 rg BT 215.51 260.90 Td (and ) Tj ET Q q 0 0 0 rg BT 232.45 260.90 Td (political ) Tj ET Q q 0 0 0 rg BT 267.72 260.90 Td (conditions ) Tj ET Q q 0 0 0 rg BT 311.88 260.90 Td (in ) Tj ET Q q 0 0 0 rg BT 322.16 260.90 Td (countries ) Tj ET Q q 0 0 0 rg BT 361.32 260.90 Td (where ) Tj ET Q q 0 0 0 rg BT 388.25 260.90 Td (the ) Tj ET Q q 0 0 0 rg BT 402.96 260.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 444.35 260.90 Td (operates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.90 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.90 Td (Additionally) Tj ET Q q 0 0 0 rg BT 99.90 236.90 Td (, the Company) Tj ET Q q 0 0 0 rg BT 161.28 236.90 Td (s operations outside the United States could be negatively impacted by changes in treaties, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.90 Td (agreements, policies, and laws implemented by the United States.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.90 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.90 Td (If the Company does not anticipate and ef) Tj ET Q q 0 0 0 rg BT 217.27 200.90 Td (fectively manage these risks, these factors may have a material adverse impact on its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.90 Td (international operations or on the business as a whole.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 164.90 Td (The Company) Tj ET Q q 0 0 0 rg BT 110.64 164.90 Td (s acquisition strategy entails expense, integration risks, and other risks that could af) Tj ET Q q 0 0 0 rg BT 456.06 164.90 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 530.86 164.90 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 152.90 Td (earnings and financial condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.81 152.90 Td (One of the Company) Tj ET Q q 0 0 0 rg BT 279.18 152.90 Td (s continuing strategies is to increase revenues and expand market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.90 Td (share through acquisitions that will provide complementary ) Tj ET Q q 0 0 0 rg BT 290.60 140.90 Td (W) Tj ET Q q 0 0 0 rg BT 299.23 140.90 Td (ater and Fueling Systems products, add to the Company's global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.90 Td (reach, or both.) Tj ET Q q 0 0 0 rg BT 112.57 128.90 Td (The Company spends significant time and ef) Tj ET Q q 0 0 0 rg BT 291.24 128.90 Td (fort expanding existing businesses through identifying, pursuing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.90 Td (completing, and integrating acquisitions, which generate expense whether or not the acquisitions are actually completed. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.90 Td (Competition for acquisition candidates may limit the number of opportunities and may result in higher acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.90 Td (prices.) Tj ET Q q 0 0 0 rg BT 81.20 92.90 Td (There is uncertainty related to successfully acquiring, integrating and profitably managing additional businesses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 80.90 Td (without substantial costs, delays or other problems.) Tj ET Q q 0 0 0 rg BT 259.79 80.90 Td (There can also be no assurance that acquired companies will achieve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.90 Td (revenues, profitability or cash flows that justify the investment in them.Failure to manage or mitigate these risks could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 56.90 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.40 56.90 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 172.27 56.90 Td (s results of operations and financial condition.) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 110.64 730.10 Td (s products are sold in highly competitive markets, by numerous competitors whose actions could negatively ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (impact sales volume, pricing and profitability) Tj ET Q q 0 0 0 rg BT 235.74 718.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.24 718.10 Td () Tj ET Q q 0 0 0 rg BT 243.06 718.10 Td (The Company is a global leader in the production and marketing of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (groundwater and fuel pumping systems.End user demand, distribution relationships, industry consolidation, new product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (capabilities of the Company) Tj ET Q q 0 0 0 rg BT 165.25 694.10 Td (s competitors or new competitors, and many other factors contribute to a highly competitive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (environment.) Tj ET Q q 0 0 0 rg BT 107.49 682.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 157.39 682.10 Td (, some of the Company) Tj ET Q q 0 0 0 rg BT 253.21 682.10 Td (s competitors have substantially greater financial resources than the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 670.10 Td (.) Tj ET Q q 0 0 0 rg BT 95.19 670.10 Td (Although the Company believes that consistency of product quality) Tj ET Q q 0 0 0 rg BT 364.48 670.10 Td (, timeliness of delivery) Tj ET Q q 0 0 0 rg BT 455.48 670.10 Td (, service, and continued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (product innovation, as well as price, are principal factors considered by customers in selecting suppliers, competitive factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (previously described may lead to declines in sales or in the prices of the Company) Tj ET Q q 0 0 0 rg BT 381.58 646.10 Td (s products which could have an adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (impact on its results of operations and financial condition.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (The Company's products are sold to numerous distribution outlets based on market performance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.32 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 455.14 610.10 Td (The Company may) Tj ET Q q 0 0 0 rg BT 531.14 610.10 Td (, from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (time to time, change distribution outlets in certain markets based on market share and growth. ) Tj ET Q q 0 0 0 rg BT 430.27 598.10 Td (These changes could adversely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (impact sales and operating results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Increases in the prices of raw materials, components, finished goods and other commodities could adversely af) Tj ET Q q 0 0 0 rg BT 504.54 562.10 Td (fect ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.84 550.10 Td () Tj ET Q q 0 0 0 rg BT 100.66 550.10 Td (The Company purchases most of the raw materials for its products on the open market and relies on third parties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (for the sourcing of certain finished goods.) Tj ET Q q 0 0 0 rg BT 221.90 538.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 271.24 538.10 Td (, the cost of its products may be af) Tj ET Q q 0 0 0 rg BT 408.53 538.10 Td (fected by changes in the market price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (of raw materials, sourced components, or finished goods.) Tj ET Q q 0 0 0 rg BT 283.65 526.10 Td (The Company and its suppliers also use natural gas and electricity in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (manufacturing products and natural gas and electricity prices have historically been volatile.) Tj ET Q q 0 0 0 rg BT 424.13 514.10 Td (The Company does not generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (engage in commodity hedging for raw materials and ener) Tj ET Q q 0 0 0 rg BT 278.63 502.10 Td (gy) Tj ET Q q 0 0 0 rg BT 287.98 502.10 Td (.Significant increases in the prices of commodities, sourced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (components, finished goods, ener) Tj ET Q q 0 0 0 rg BT 183.96 490.10 Td (gy or other commodities could cause product prices to increase, which may reduce demand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (for products or make the Company more susceptible to competition.Furthermore, in the event the Company is unable to pass ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (along increases in operating costs to its customers, mar) Tj ET Q q 0 0 0 rg BT 270.04 466.10 Td (gins and profitability may be adversely af) Tj ET Q q 0 0 0 rg BT 436.48 466.10 Td (fected.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.74 442.10 Td (ransferring operations of the Company to lower cost regions may not result in the intended cost benefits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.49 442.10 Td (The Company is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (continuing its rationalization of manufacturing capacity between all existing manufacturing facilities and the manufacturing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (complexes in lower cost regions.) Tj ET Q q 0 0 0 rg BT 186.18 418.10 Td (T) Tj ET Q q 0 0 0 rg BT 191.59 418.10 Td (o implement this strategy) Tj ET Q q 0 0 0 rg BT 292.31 418.10 Td (, the Company must complete the transfer of assets and intellectual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (property between operations.Each of these transfers involves the risk of disruption to the Company) Tj ET Q q 0 0 0 rg BT 453.79 406.10 Td (s manufacturing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (capability) Tj ET Q q 0 0 0 rg BT 88.78 394.10 Td (, supply chain, and, ultimately) Tj ET Q q 0 0 0 rg BT 208.94 394.10 Td (, to the Company) Tj ET Q q 0 0 0 rg BT 280.60 394.10 Td (s ability to service customers and generate revenues and profits and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (may include significant severance amounts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (The Company has significant investments in foreign entities and has significant sales and purchases in foreign ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (denominated currencies creating exposure to foreign currency exchange rate fluctuations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.22 346.10 Td (The Company has significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (investments outside the United States, including Europe, South ) Tj ET Q q 0 0 0 rg BT 304.42 334.10 Td (Africa, Brazil, Mexico, India, China, and ) Tj ET Q q 0 0 0 rg BT 471.13 334.10 Td (T) Tj ET Q q 0 0 0 rg BT 476.88 334.10 Td (urkey) Tj ET Q q 0 0 0 rg BT 499.00 334.10 Td (.Further) Tj ET Q q 0 0 0 rg BT 535.54 334.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (Company has sales and makes purchases of raw materials and finished goods in foreign denominated currencies.) Tj ET Q q 0 0 0 rg BT 505.42 322.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 554.76 322.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (the Company has exposure to fluctuations in foreign currency exchange rates relative to the U.S. dollar) Tj ET Q q 0 0 0 rg BT 461.82 310.10 Td (.Foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (exchange rate risk is partially mitigated through several means: maintenance of local production facilities in the markets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (served, invoicing of customers in the same currency as the source of the products, prompt settlement of inter) Tj ET Q q 0 0 0 rg BT 483.84 286.10 Td (-company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (balances, limited use of foreign currency denominated debt, and application of derivative instruments when appropriate. ) Tj ET Q q 0 0 0 rg BT 535.49 274.10 Td (T) Tj ET Q q 0 0 0 rg BT 540.90 274.10 Td (o the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (extent that these mitigating strategies are not successful, foreign currency rate fluctuations can have a material adverse impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (on the Company's international operations or on the business as a whole.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (Delays in introducing new products or the inability to achieve or maintain market acceptance with existing or new products ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (may cause the Company) Tj ET Q q 0 0 0 rg BT 152.86 214.10 Td (s revenues to decrease.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.73 214.10 Td () Tj ET Q q 0 0 0 rg BT 251.55 214.10 Td (The industries to which the Company belongs are characterized by intense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (competition, changes in end-user requirements, and evolving product of) Tj ET Q q 0 0 0 rg BT 337.51 202.10 Td (ferings and introductions.) Tj ET Q q 0 0 0 rg BT 444.81 202.10 Td (The Company believes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (future success will depend, in part, on the ability to anticipate and adapt to these factors and of) Tj ET Q q 0 0 0 rg BT 427.75 190.10 Td (fer) Tj ET Q q 0 0 0 rg BT 438.45 190.10 Td (, on a timely basis, products ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (that meet customer demands.Failure to successfully develop new and innovative products or to enhance existing products ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (could result in the loss of existing customers to competitors or the inability to attract new business, either of which may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.40 154.10 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 172.27 154.10 Td (s revenues.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (Certain Company products are subject to regulation and government performance requirements in addition to the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (warranties provided by the Company) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.11 118.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.61 118.10 Td () Tj ET Q q 0 0 0 rg BT 208.43 118.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 268.14 118.10 Td (s product lines have expanded significantly and certain products are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (subject to government regulations and standards for manufacture, assembly) Tj ET Q q 0 0 0 rg BT 351.21 106.10 Td (, and performance in addition to the warranties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (provided by the Company) Tj ET Q q 0 0 0 rg BT 153.50 94.10 Td (.) Tj ET Q q 0 0 0 rg BT 160.82 94.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 220.53 94.10 Td (s failure to meet all such standards or perform in accordance with warranties could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (result in significant warranty or repair costs, lost sales and profits, damage to the Company) Tj ET Q q 0 0 0 rg BT 416.58 82.10 Td (s reputation, fines or penalties from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (governmental or) Tj ET Q q 0 0 0 rg BT 115.63 70.10 Td (ganizations, and increased litigation exposure. Changes to these regulations or standards may require the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (Company to modify its business objectives and incur additional costs to comply) Tj ET Q q 0 0 0 rg BT 369.03 58.10 Td (, and any liabilities or penalties actually ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (incurred could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 214.73 46.10 Td (fect on the Company's earnings and operating results.) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (The growth ofmunicipal water systems and increased government restrictions on groundwater pumpingcould reduce ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (demand for private water wells and the Company) Tj ET Q q 0 0 0 rg BT 254.54 718.10 Td (s products, thereby reducing revenues and earnings.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.05 718.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.55 718.10 Td (Demand for certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Company products is af) Tj ET Q q 0 0 0 rg BT 145.08 706.10 Td (fected by rural communities shifting from private and individual water well systems to city or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (municipal water systems. Many economic and other factors outside the Company) Tj ET Q q 0 0 0 rg BT 381.03 694.10 Td (s control, including Federal and State ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (regulations on water quality) Tj ET Q q 0 0 0 rg BT 161.26 682.10 Td (, and tax credits and incentives, could adversely impact the demand for private and individual water ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (wells. ) Tj ET Q q 0 0 0 rg BT 78.06 670.10 Td (A) Tj ET Q q 0 0 0 rg BT 84.73 670.10 Td ( decline in private and individual water well systems in the United States or other economies in the international ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (markets the Company serves could reduce demand for the Company) Tj ET Q q 0 0 0 rg BT 326.31 658.10 Td (s products and adversely impact sales, gross mar) Tj ET Q q 0 0 0 rg BT 520.52 658.10 Td (gins, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (operating results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Demand for Fueling Systems products is impacted by environmental legislation which may cause significant fluctuations in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (costs and revenues after meeting compliance requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.59 610.10 Td (Environmental legislation related to air quality and fueling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (containment may create demand for certain Fueling Systems products which must be supplied in a relatively short time frame ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (to meet the governmental mandate.During periods of increased demand the Company) Tj ET Q q 0 0 0 rg BT 400.17 586.10 Td (s revenues and profitability could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (increase significantly) Tj ET Q q 0 0 0 rg BT 134.59 574.10 Td (, although the Company can also be at risk of not having capacity to meet demand or cost overruns due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (inef) Tj ET Q q 0 0 0 rg BT 65.37 562.10 Td (ficiencies during ramp up to the higher production levels.) Tj ET Q q 0 0 0 rg BT 299.47 562.10 Td (After the Company) Tj ET Q q 0 0 0 rg BT 379.45 562.10 Td (s customers have met the compliance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (requirements, the Company) Tj ET Q q 0 0 0 rg BT 163.58 550.10 Td (s revenues and profitability may decrease significantly as the demand for certain products declines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (substantially) Tj ET Q q 0 0 0 rg BT 99.90 538.10 Td (.) Tj ET Q q 0 0 0 rg BT 107.22 538.10 Td (The risk of not reducing production costs in relation to the decreased demand and reduced revenues could have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (material adverse impact on gross mar) Tj ET Q q 0 0 0 rg BT 199.49 526.10 Td (gins and the Company's results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Changes in tax legislation regarding the Company's foreign earnings could materially af) Tj ET Q q 0 0 0 rg BT 415.69 502.10 Td (fect future results. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.97 502.10 Td (Since the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (Company operates in dif) Tj ET Q q 0 0 0 rg BT 148.41 490.10 Td (ferent countries and is subject to taxation in dif) Tj ET Q q 0 0 0 rg BT 336.51 490.10 Td (ferent jurisdictions, the Company) Tj ET Q q 0 0 0 rg BT 473.15 490.10 Td (s future ef) Tj ET Q q 0 0 0 rg BT 513.51 490.10 Td (fective tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (rates could be impacted by changes in such countries) Tj ET Q q 0 0 0 rg BT 264.74 478.10 Td ( tax laws or their interpretations.Both domestic and international tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (laws are subject to change as a result of changes in fiscal policy) Tj ET Q q 0 0 0 rg BT 304.26 466.10 Td (, legislation, evolution of regulation and court rulings.) Tj ET Q q 0 0 0 rg BT 525.15 466.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (application of these tax laws and related regulations is subject to legal and factual interpretation, judgment, and uncertainty) Tj ET Q q 0 0 0 rg BT 541.68 454.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Changes to the U.S. international tax laws could limit U.S. deductions for expenses related to un-repatriated foreign-source ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (income and modify the U.S. foreign tax credit and check-the-box rules. ) Tj ET Q q 0 0 0 rg BT 348.88 430.10 Td (The Company cannot predict whether any proposed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (changes in U.S. tax laws will be enacted into law or what, if any) Tj ET Q q 0 0 0 rg BT 306.50 418.10 Td (, changes may be made to any such proposals prior to their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (being enacted into law) Tj ET Q q 0 0 0 rg BT 139.59 406.10 Td (. If the U.S. tax laws change in a manner that increases the Company) Tj ET Q q 0 0 0 rg BT 420.34 406.10 Td (s tax obligation,it could have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (material adverse impact on the Company) Tj ET Q q 0 0 0 rg BT 216.89 394.10 Td (s results of operations and financial condition.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (The Company has significant goodwill and intangible assets and future impairment of the value of these assets may ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.96 358.10 Td (fect operating results and financial condition. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.31 358.10 Td (The Company's total assets reflect substantial intangible assets, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (primarily goodwill. Goodwill results from the Company's acquisitions, representing the excess of the purchase price paid over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (the fair value of the net assets acquired. Goodwill and indefinite-lived intangible assets are tested annually for impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (during the fourth quarter or as warranted by triggering events. If future operating performance at one or more of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Company's operating segments were to decline significantly below current levels, the Company could incur a non-cash char) Tj ET Q q 0 0 0 rg BT 545.64 310.10 Td (ge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (to operating earnings for an impairment. ) Tj ET Q q 0 0 0 rg BT 216.06 298.10 Td (Any future determination requiring the recognition of an impairment of a significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (portion of the Company's goodwill or intangible assets could have a material adverse impact on the Company's results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (operations and financial condition. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (The Company's business may be adversely af) Tj ET Q q 0 0 0 rg BT 235.36 252.10 Td (fected by the seasonality of sales and weather conditions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.52 252.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (experiences seasonal demand in a number of markets within the ) Tj ET Q q 0 0 0 rg BT 308.07 240.10 Td (W) Tj ET Q q 0 0 0 rg BT 316.70 240.10 Td (ater Systems segment. End-user demand in primary markets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (follows warm weather trends and is at seasonal highs from ) Tj ET Q q 0 0 0 rg BT 286.61 228.10 Td (April to ) Tj ET Q q 0 0 0 rg BT 319.95 228.10 Td (August in the Northern Hemisphere. Demand for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.10 Td (residential and agricultural water systems are also af) Tj ET Q q 0 0 0 rg BT 259.46 216.10 Td (fected by weather) Tj ET Q q 0 0 0 rg BT 330.33 216.10 Td (-related disasters including heavy flooding and drought. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.10 Td (Changes in these patterns could reduce demand for the Company's products and adversely impact sales, gross mar) Tj ET Q q 0 0 0 rg BT 506.22 204.10 Td (gins, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.10 Td (operating results.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 166.60 Td (The Company depends on certain key suppliers, and any loss of those suppliers or their failure to meet commitments may ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 154.60 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.96 154.60 Td (fect business and results of operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.43 154.60 Td (The Company is dependent on a single or limited number of suppliers for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.60 Td (some materials or components required in the manufacture of its products. If any of those suppliers fail to meet their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.60 Td (commitments to the Company in terms of delivery or quality) Tj ET Q q 0 0 0 rg BT 292.36 130.60 Td (, the Company may experience supply shortages that could result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.60 Td (in its inability to meet customer requirements, or could otherwise experience an interruption in operations that could negatively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.60 Td (impact the Company's business and results of operations. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 81.10 Td (The Company's operations are dependent on information technology infrastructure and failures could significantly af) Tj ET Q q 0 0 0 rg BT 535.69 81.10 Td (fect ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 69.10 Td (its business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.46 69.10 Td ( ) Tj ET Q q 0 0 0 rg BT 109.28 69.10 Td (The Company depends on information technology infrastructure in order to achieve business objectives. If the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.10 Td (Company experiences a problem that impairs this infrastructure, such as a computer virus, a problem with the functioning of an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 45.10 Td (important IT) Tj ET Q q 0 0 0 rg BT 100.64 45.10 Td ( application, or an intentional disruption of IT) Tj ET Q q 0 0 0 rg BT 283.75 45.10 Td ( systems by a third party) Tj ET Q q 0 0 0 rg BT 381.14 45.10 Td (, the resulting disruptions could impede the ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Company's ability to record or process orders, manufacture and ship products in a timely manner) Tj ET Q q 0 0 0 rg BT 437.13 742.10 Td (, or otherwise carry on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (business in the ordinary course. ) Tj ET Q q 0 0 0 rg BT 180.81 730.10 Td (Any such events could cause the loss of customers or revenue and could cause significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (expense to be incurred to eliminate these problems and address related security concerns. ) Tj ET Q q 0 0 0 rg BT 411.63 718.10 Td (The Company is also in the process ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (of updating its global Enterprise Resource Planning \("ERP"\) system that will redesign and deploy a common information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (system over a period of several years. ) Tj ET Q q 0 0 0 rg BT 205.60 694.10 Td (The process of implementation can be costly and can divert the attention of management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (from the day-to-day operations of the business. ) Tj ET Q q 0 0 0 rg BT 243.01 682.10 Td (As the Company implements the ERP) Tj ET Q q 0 0 0 rg BT 394.58 682.10 Td ( system, the new system may not perform ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (as expected, which could have an adverse ef) Tj ET Q q 0 0 0 rg BT 226.96 670.10 Td (fect on the Company's business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (Additional Risks to the Company) Tj ET Q q 0 0 0 rg BT 185.21 646.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.71 646.10 Td (The Company is subject to various risks in the normal course of business. Exhibit 99.1 sets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (forth risks and other factors that may af) Tj ET Q q 0 0 0 rg BT 207.82 634.10 Td (fect future results, including those identified above, and is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (ITEM 1B. UNRESOL) Tj ET Q q 0 0 0 rg BT 143.27 598.10 Td (VED ST) Tj ET Q q 0 0 0 rg BT 178.37 598.10 Td (AFF) Tj ET Q q 0 0 0 rg BT 197.44 598.10 Td ( COMMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (ITEM 2. PROPER) Tj ET Q q 0 0 0 rg BT 129.93 550.10 Td (TIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Franklin Electric serves customers worldwide with over 125 manufacturing and distribution facilities located in over 20 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (countries. ) Tj ET Q q 0 0 0 rg BT 93.97 514.10 Td (The Global Headquarters is located in Fort ) Tj ET Q q 0 0 0 rg BT 267.35 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 275.99 514.10 Td (ayne, Indiana, United States and houses sales, marketing, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (administrative of) Tj ET Q q 0 0 0 rg BT 117.86 502.10 Td (fices along with a state of the art research and engineering facility) Tj ET Q q 0 0 0 rg BT 380.70 502.10 Td (. 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In the Company) Tj ET Q q 0 0 0 rg BT 490.74 252.10 Td (s opinion, its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (facilities are suitable for their intended use, adequate for the Company) Tj ET Q q 0 0 0 rg BT 334.06 240.10 Td (s business needs, all currently utilized, and in good ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (condition.) 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496.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 584.6 m 561.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 584.6 m 216.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 569.6 m 216.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 584.6 m 285.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 569.6 m 285.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 584.6 m 354.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 569.6 m 354.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 569.6 m 358.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 569.6 m 423.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 584.6 m 492.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 569.6 m 492.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 569.6 m 496.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 569.6 m 561.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 554.6 m 354.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 554.6 m 423.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 554.6 m 492.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 554.6 m 561.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 554.6 m 354.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 554.6 m 423.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 554.6 m 492.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 554.6 m 561.5 554.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.15 589.27 Td (Dividends per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.45 589.27 Td (Price per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 574.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.50 574.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 574.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 574.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 574.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 559.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.00 559.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.00 559.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.30 559.27 Td (Low) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 559.27 Td (High) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.30 559.27 Td (Low) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 559.27 Td (High) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 544.27 Td (1st Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.00 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.15 544.27 Td (.0975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.00 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 544.27 Td (.0900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 544.27 Td (23.93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 544.27 Td (32.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 544.27 Td (33.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 544.27 Td (39.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 529.27 Td (2nd Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.15 529.27 Td (.1000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 529.27 Td (.0975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 529.27 Td (30.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 529.27 Td (35.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 529.27 Td (32.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 529.27 Td (39.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 514.27 Td (3rd Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.15 514.27 Td (.1000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 514.27 Td (.0975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 514.27 Td (32.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 514.27 Td (40.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 514.27 Td (26.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 514.27 Td (31.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 499.27 Td (4th Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.15 499.27 Td (.1000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 499.27 Td (.0975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 499.27 Td (34.90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 499.27 Td (44.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 499.27 Td (26.91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 499.27 Td (35.11) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 471.10 Td (The Company has increased dividend payments on an annual basis for 24 consecutive periods. ) Tj ET Q q 0 0 0 rg BT 433.05 471.10 Td (The payment of dividends in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 459.10 Td (the future will be determined by the Board of Directors and will depend on business conditions, earnings, and other factors.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (Issuer Purchases of Equity Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 427.10 Td (April 2007, the Company) Tj ET Q q 0 0 0 rg BT 165.27 427.10 Td (s Board of Directors unanimously approved a plan to increase the number of shares remaining for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (repurchase from 628,692 to 2,300,000 shares. ) Tj ET Q q 0 0 0 rg BT 235.33 415.10 Td (There is no expiration date for this plan. On ) Tj ET Q q 0 0 0 rg BT 415.01 415.10 Td (August 3, 2015, the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (Board of Directors approved a plan to increase the number of shares remaining for repurchase by an additional 3,000,000 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 82.31 391.10 Td (The authorization was in addition to the 535,107 shares that remained available for repurchase as of July 31, 2015. ) Tj ET Q q 0 0 0 rg BT 545.61 391.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.10 Td (Company did not repurchase any shares under this plan during the fourth quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.02 379.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.02 379.10 Td (. ) Tj ET Q q 0 0 0 rg BT 410.84 379.10 Td (The maximum number of shares that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.10 Td (may still be purchased under this plan as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.79 367.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.38 367.10 Td ( is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.04 367.10 Td (2,156,362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.04 367.10 Td (.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Stock Performance Graph) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (The following graph compares the Company's cumulative total shareholder return \(Common Stock price appreciation plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (dividends, on a reinvested basis\) over the last five fiscal years with the Guggenheim S&P) Tj ET Q q 0 0 0 rg BT 407.60 718.25 Td ( Global ) Tj ET Q q 0 0 0 rg BT 439.64 718.25 Td (W) Tj ET Q q 0 0 0 rg BT 448.28 718.25 Td (ater Index and the Russell ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (2000 Index. ) Tj ET Q /GS0 gs q 512.00 0 0 177.85 50.00 523.39 cm /I25 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.40 Td (Hypothetical $100 invested on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.98 499.40 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 248.19 499.40 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.19 499.40 Td ( \(fiscal year) Tj ET Q q 0 0 0 rg BT 300.18 499.40 Td (-end 201) Tj ET Q q 0 0 0 rg BT 335.08 499.40 Td (1\) in Fra) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 369.52 506.33 153.30 -9.09 re f /GS0 gs q 0 0 0 rg BT 369.52 499.40 Td (nklin Electric common stock \(FELE\), ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 50.00 494.33 404.69 -9.09 re f /GS0 gs q 0 0 0 rg BT 50.00 487.40 Td (Guggenheim S&P) Tj ET Q q 0 0 0 rg BT 122.69 487.40 Td ( Global ) Tj ET Q q 0 0 0 rg BT 154.72 487.40 Td (W) Tj ET Q q 0 0 0 rg BT 163.36 487.40 Td (ater Index, and Russell 2000 Index, assuming reinvestment of dividends:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.40 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 449.90 153.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 449.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 449.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 449.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 449.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 449.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 449.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 449.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 449.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 449.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 449.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 449.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 449.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 419.90 153.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 419.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 419.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 419.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 419.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 419.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 419.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 419.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 419.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 419.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 419.90 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 419.90 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 419.90 55.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 449.9 m 262.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 449.9 m 321.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 449.9 m 380.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 449.9 m 439.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 449.9 m 498.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 449.9 m 557.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 449.9 m 262.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 449.9 m 321.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 449.9 m 380.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 449.9 m 439.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 449.9 m 498.5 449.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 449.9 m 557.5 449.9 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.75 454.57 Td (YE 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 454.57 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 454.57 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.50 454.57 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 454.57 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.50 454.57 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 439.57 Td (FELE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 439.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 439.57 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 439.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 439.57 Td (142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 439.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 439.57 Td (205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 439.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 439.57 Td (172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.00 439.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 439.57 Td (124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 439.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 439.57 Td (179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 424.57 Td (Guggenheim S&P Global Water) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 424.57 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 424.57 Td (119) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 424.57 Td (148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 424.57 Td (152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 424.57 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 424.57 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 409.57 Td (Russell 2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 409.57 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 409.57 Td (116) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 409.57 Td (162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 409.57 Td (169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 409.57 Td (162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 409.57 Td (196) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM 6. SELECTED FINANCIAL) Tj ET Q q 0 0 0 rg BT 201.14 742.25 Td ( DA) Tj ET Q q 0 0 0 rg BT 217.34 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 223.27 742.25 Td (A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (The following selected financial data should be read in conjunction with the Company) Tj ET Q q 0 0 0 rg BT 398.24 718.25 Td (s consolidated financial statements. ) Tj ET Q q 0 0 0 rg BT 544.68 718.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (information set forth below is not necessarily indicative of future operations.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Five ) Tj ET Q q 0 0 0 rg BT 70.64 682.25 Td (Y) Tj ET Q q 0 0 0 rg BT 75.64 682.25 Td (ear Financial Summary ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 615.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 615.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 615.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 615.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 615.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 615.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 615.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 615.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 615.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 615.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 585.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 585.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 585.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 585.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 585.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 585.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 585.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 585.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 585.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 585.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 555.75 201.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 555.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 555.75 6.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 555.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 555.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 555.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 555.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 555.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 555.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 555.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 517.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 517.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 517.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 517.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 517.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 517.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 517.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 517.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 517.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 517.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 487.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 487.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 487.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 487.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 487.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 487.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 487.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 487.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 487.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 487.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 457.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 457.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 457.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 457.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 457.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 457.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 457.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 457.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 457.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 457.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 427.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 427.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 427.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 427.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 427.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 427.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 427.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 427.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 427.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 427.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 397.75 201.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 397.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 397.75 6.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 397.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 397.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 397.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 397.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 397.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 397.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 397.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 347.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 347.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 347.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 347.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 347.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 347.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 347.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 347.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 347.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 347.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 317.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 317.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 317.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 317.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 317.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 317.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 317.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 317.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 317.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 317.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 287.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 287.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 287.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 287.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 287.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 287.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 287.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 287.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 287.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 287.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 257.75 201.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 257.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 257.75 6.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 257.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 257.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 257.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 257.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 257.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 257.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 257.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 197.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 197.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 197.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 197.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 197.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 197.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 197.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 197.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 197.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 197.75 58.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 645.75 m 310 645.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 645.75 m 374 645.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 645.75 m 436 645.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 645.75 m 498 645.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 645.75 m 560 645.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 645.75 m 374 645.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 645.75 m 436 645.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 645.75 m 440 645.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 645.75 m 498 645.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 645.75 m 502 645.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 645.75 m 560 645.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 660.42 Td (\(In thousands, except per share amounts and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 650.42 Td (ratios\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.50 650.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.50 650.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 650.42 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.50 650.42 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.50 650.42 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.95 635.42 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.65 635.42 Td (\(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 620.42 Td (Operations:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 605.42 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.50 605.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.60 605.42 Td (949,856) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 605.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 605.42 Td (924,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 605.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.10 605.42 Td (1,047,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 605.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 605.42 Td (965,462) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 605.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 605.42 Td (891,345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 590.42 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.60 590.42 Td (331,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 590.42 Td (297,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 590.42 Td (344,410) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 590.42 Td (331,514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 590.42 Td (301,664) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 575.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.65 575.42 Td (8,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 575.42 Td (10,039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 575.42 Td (10,735) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 575.42 Td (10,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 575.42 Td (10,208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 560.42 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.65 560.42 Td (24,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 560.42 Td (12,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 560.42 Td (18,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 560.42 Td (28,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 560.42 Td (32,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 546.32 Td (Net income attributable to Franklin Electric) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 536.32 Td (Co., Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.65 537.42 Td (78,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 537.42 Td (72,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 537.42 Td (69,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 537.42 Td (81,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 537.42 Td (82,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 522.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.65 522.42 Td (35,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 522.42 Td (35,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 522.42 Td (37,210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 522.42 Td (31,356) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 522.42 Td (28,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 507.42 Td (Capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.65 507.42 Td (37,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 507.42 Td (25,933) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 507.42 Td (42,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 507.42 Td (67,206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 507.42 Td (42,062) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 492.42 Td (Balance sheet:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 477.42 Td (Working capital \(a\)\(b\)\(e\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.60 477.42 Td (326,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 477.42 Td (293,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 477.42 Td (268,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 477.42 Td (333,880) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 477.42 Td (283,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 462.42 Td (Property, plant, and equipment, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.60 462.42 Td (196,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 462.42 Td (190,039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 462.42 Td (209,786) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 462.42 Td (208,596) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 462.42 Td (171,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 447.42 Td (Total assets \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.10 447.42 Td (1,039,905) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 447.42 Td (996,111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.10 447.42 Td (1,075,797) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 447.42 Td (1,051,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 447.42 Td (976,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 432.42 Td (Long-term debt \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.60 432.42 Td (156,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 432.42 Td (187,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 432.42 Td (143,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 432.42 Td (174,063) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 432.42 Td (150,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 417.42 Td (Shareholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.60 417.42 Td (613,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 417.42 Td (557,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 417.42 Td (596,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 417.42 Td (595,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 417.42 Td (514,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 402.42 Td (Other data:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 387.42 Td (Net income attributable to Franklin Electric) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 377.42 Td (Co.,Inc., to sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.65 377.42 Td (8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 377.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 377.42 Td (7.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 377.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 377.42 Td (6.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 377.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 377.42 Td (8.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 377.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 377.42 Td (9.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.15 377.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 362.42 Td (Net income attributable to Franklin Electric) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 352.42 Td (Co., Inc., to average total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.65 352.42 Td (7.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 352.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 352.42 Td (7.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 352.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 352.42 Td (6.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 352.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 352.42 Td (8.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 352.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 352.42 Td (9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.15 352.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 337.42 Td (Current ratio \(b\)\(f\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.65 337.42 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 337.42 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 337.42 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 337.42 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 337.42 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 322.42 Td (Number of common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.65 322.42 Td (46,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 322.42 Td (46,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 322.42 Td (47,594) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 322.42 Td (47,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 322.42 Td (47,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 307.42 Td (Per share:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 292.42 Td (Market price range) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.50 277.42 Td (High) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.50 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.65 277.42 Td (44.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 277.42 Td (39.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 277.42 Td (45.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 277.42 Td (45.62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 277.42 Td (30.98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.50 262.42 Td (Low) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.50 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.65 262.42 Td (23.93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 262.42 Td (26.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 262.42 Td (33.93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 262.42 Td (29.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 262.42 Td (22.77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 247.42 Td (Net income attributable to Franklin Electric) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 237.42 Td (Co., Inc., per weighted average common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.65 237.42 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.65 237.42 Td (1.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 237.42 Td (1.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 237.42 Td (1.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 237.42 Td (1.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 222.42 Td (Net income attributable to Franklin Electric) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 212.42 Td (Co., Inc.,per weighted average common share,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 202.42 Td (assuming dilution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.50 202.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.65 202.42 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 202.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.65 202.42 Td (1.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 202.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 202.42 Td (1.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 202.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 202.42 Td (1.68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 202.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 202.42 Td (1.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 187.42 Td (Book value \(g\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.50 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.65 187.42 Td (13.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 187.42 Td (11.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 187.42 Td (12.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 187.42 Td (12.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 187.42 Td (10.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 172.42 Td (Dividends per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.50 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.65 172.42 Td (0.3975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 172.42 Td (0.3825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 172.42 Td (0.3475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 172.42 Td (0.3050) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 172.42 Td (0.2850) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 144.25 Td (In 2016, the Company adopted Financial ) Tj ET Q q 0 0 0 rg BT 233.25 144.25 Td (Accounting Standard Board \("F) Tj ET Q q 0 0 0 rg BT 359.62 144.25 Td (ASB"\) ) Tj ET Q q 0 0 0 rg BT 388.43 144.25 Td (Accounting Standard Update \("ASU"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 132.25 Td (2015-03, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 106.33 132.25 Td (Inter) Tj ET Q q 0 0 0 rg BT 125.40 132.25 Td (est - Imputation of Inter) Tj ET Q q 0 0 0 rg BT 220.57 132.25 Td (est \(Subtopic 835-30\): Simplifying the Pr) Tj ET Q q 0 0 0 rg BT 384.89 132.25 Td (esentation of Debt Issuance Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.43 132.25 Td (. ) Tj ET Q q 0 0 0 rg BT 527.75 132.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 120.25 Td (ASU required retrospective adoption; therefore, years 2015, 2014, 2013, and 2012 were restated above to reflect the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 108.25 Td (adoption of the ) Tj ET Q q 0 0 0 rg BT 130.49 108.25 Td (ASU. See Note 2 for additional information regarding this ) Tj ET Q q 0 0 0 rg BT 367.95 108.25 Td (ASU. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.25 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 96.25 Td (Balances as of year) Tj ET Q q 0 0 0 rg BT 145.26 96.25 Td (-end 2014, 2013, 2012, and 201) Tj ET Q q 0 0 0 rg BT 272.10 96.25 Td (1 were not retrospectively adjusted for the adoption of ) Tj ET Q q 0 0 0 rg BT 491.20 96.25 Td (ASU 2015-17, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 84.25 Td (Income T) Tj ET Q q 0 0 0 rg BT 104.57 84.25 Td (axes \(T) Tj ET Q q 0 0 0 rg BT 132.81 84.25 Td (opic 740\): Balance Sheet Classification of Deferr) Tj ET Q q 0 0 0 rg BT 330.74 84.25 Td (ed T) Tj ET Q q 0 0 0 rg BT 347.32 84.25 Td (axes,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.59 84.25 Td ( which related to the presentation of deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 72.25 Td (taxes. ) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (\(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td (Includes the results of operations of the Company's 100% wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 401.04 742.10 Td (, Bombas Leao S.A., since its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td (acquisition in the second quarter of 2014, and 90% of the Company's owned subsidiary) Tj ET Q q 0 0 0 rg BT 416.31 730.10 Td (, Impo Motor Pompa Sanayi ve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 73.76 718.10 Td (icaret ) Tj ET Q q 0 0 0 rg BT 97.91 718.10 Td (A.S., since the Company's acquisition of an additional 10% in the second quarter of 2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (\(d\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 706.10 Td (Includes the results of operations of the Company's 70.5% owned subsidiary) Tj ET Q q 0 0 0 rg BT 373.26 706.10 Td (, Pioneer Pump Holdings, Inc., since the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.10 Td (Company's acquisition of an additional 39.5% in the first quarter of 2012, 100% of the wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 516.57 694.10 Td (, Cerus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td (Industrial Corporation, since its acquisition in the third quarter of 2012, and 100% of the wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 524.77 682.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 670.10 Td (Flexing, Incorporated, since the Company's acquisition in the fourth quarter of 2012.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (\(e\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.64 658.10 Td (orking capital = Current assets minus current liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (\(f\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 646.10 Td (Current ratio = Current assets divided by current liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (\(g\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.10 Td (Book value = Shareholders) Tj ET Q q 0 0 0 rg BT 179.26 634.10 Td ( equity divided by weighted average common shares, assuming full dilution.) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM 7. MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 239.19 742.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 262.81 742.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 290.22 742.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 328.48 742.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 387.09 742.25 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 450.44 742.25 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 507.03 742.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 535.28 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (OPERA) Tj ET Q q 0 0 0 rg BT 84.26 730.25 Td (TIONS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (2016) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 70.00 706.25 Td ( vs. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.83 706.25 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 105.83 706.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (OVER) Tj ET Q q 0 0 0 rg BT 76.42 682.25 Td (VIEW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (Sales in 2016 increased from the prior year) Tj ET Q q 0 0 0 rg BT 221.89 658.25 Td (.Net sales in 2016 were $949.9 million, an increase of about 3 percent compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (2015 sales of $924.9 million. ) Tj ET Q q 0 0 0 rg BT 168.98 646.25 Td (The sales increase was attributable to both volume and price increases partially of) Tj ET Q q 0 0 0 rg BT 495.90 646.25 Td (fset by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (impact of foreign currency translation as the US dollar strengthened against certain foreign currencies. ) Tj ET Q q 0 0 0 rg BT 462.16 634.25 Td (The Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (consolidated gross profit was $331.4 million for 2016, an increase of $33.8 million or about 1) Tj ET Q q 0 0 0 rg BT 424.57 622.25 Td (1 percent from 2015. ) Tj ET Q q 0 0 0 rg BT 510.75 622.25 Td (The gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (profit as a percent of net sales increased 270 basis points to 34.9 percent in 2016 from 32.2 percent in 2015. ) Tj ET Q q 0 0 0 rg BT 483.04 610.25 Td (The gross profit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (mar) Tj ET Q q 0 0 0 rg BT 65.37 598.25 Td (gin change was due primarily to favorable pricing, lower direct material costs and lower fixed cost on higher sales. For ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (2016, diluted earnings per share were $1.65, an increase of 10 percent compared to 2015 diluted earnings per share of $1.50. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (Adjusted earnings per share were $1.66, an increase of 13 percent versus the $1.47 adjusted earnings per share in 2015 \(see the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (table below for a reconciliation of the GAAP) Tj ET Q q 0 0 0 rg BT 229.85 562.25 Td ( EPS to the adjusted EPS\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (RESUL) Tj ET Q q 0 0 0 rg BT 80.75 538.25 Td (TS OF OPERA) Tj ET Q q 0 0 0 rg BT 141.88 538.25 Td (TIONS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (Net sales in 2016 were $949.9 million, an increase of $25.0 million or about 3 percent compared to 2015 sales of $924.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (million. ) Tj ET Q q 0 0 0 rg BT 86.21 490.25 Td (The incremental impact of sales from acquired businesses was $0.7 million.Sales revenue decreased by $23.2 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (or about 2 percent in 2016 due to foreign currency translation. ) Tj ET Q q 0 0 0 rg BT 300.85 478.25 Td (The sales change in 2016, excluding acquisitions and foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (currency translation, was an increase of $47.5 million or about 5 percent.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 413.75 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 413.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 413.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 413.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 413.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 413.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 383.75 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 383.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 383.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 383.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 383.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 383.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 443.75 m 421.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 428.75 m 421.5 428.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 443.75 m 425.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 428.75 m 425.5 428.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 443.75 m 490.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 428.75 m 490.5 428.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 443.75 m 494.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 428.75 m 494.5 428.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 443.75 m 559.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 428.75 m 559.5 428.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 428.75 m 421.5 428.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 413.75 m 421.5 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 428.75 m 490.5 428.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 413.75 m 490.5 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 413.75 m 559.5 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 413.75 m 421.5 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 413.75 m 490.5 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 383.75 m 421.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 383.75 m 490.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 383.75 m 559.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 383.75 m 421.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 369.75 m 421.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 367.75 m 421.5 367.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 383.75 m 490.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 369.75 m 490.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 367.75 m 490.5 367.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 369.75 m 559.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 367.75 m 559.5 367.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.45 433.42 Td (Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 418.42 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.50 418.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.50 418.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 418.42 Td (2016 v 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 403.42 Td (Water Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 403.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 403.42 Td (723.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.00 403.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 403.42 Td (707.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 403.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 403.42 Td (15.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 388.42 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 388.42 Td (226.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 388.42 Td (217.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 388.42 Td (9.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 373.42 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 373.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 373.42 Td (949.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.00 373.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 373.42 Td (924.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 373.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 373.42 Td (25.0) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 345.25 Td (Net Sales-W) Tj ET Q q 0 0 0 rg BT 100.09 345.25 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 333.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 333.25 Td (ater Systems sales were $723.2 million in 2016, an increase of $15.6 million or 2 percent versus 2015. ) Tj ET Q q 0 0 0 rg BT 470.04 333.25 Td (The incremental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 321.25 Td (impact of sales from acquired businesses was $0.7 million. Foreign currency translation rate changes decreased sales $21.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 309.25 Td (million, or about 3 percent, compared to sales in 2015. ) Tj ET Q q 0 0 0 rg BT 270.60 309.25 Td (The sales change in 2016, excluding acquisitions and foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 297.25 Td (translation, was an increase of $36.3 million or about 5 percent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 273.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 273.25 Td (ater Systems sales in the U.S. and Canada were 36 percent of consolidated sales and increased by about 5 percent in 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.25 Td (compared to the prior year) Tj ET Q q 0 0 0 rg BT 155.51 261.25 Td (. Sales revenue decreased by $2.1 million or less than 1 percent in 2016 due to foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.25 Td (translation. ) Tj ET Q q 0 0 0 rg BT 97.03 249.25 Td (The sales change in 2016, excluding acquisitions and foreign currency translation, was an increase of $16.4 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.25 Td (or about 5 percent. In 2016, sales of groundwater pumping equipment increased by about 9 percent. ) Tj ET Q q 0 0 0 rg BT 453.59 237.25 Td (The growth in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.25 Td (groundwater equipment sales was led by a 12 percent increase in sales of products for both residential and agricultural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.25 Td (applications. Sales of Pioneer branded mobile dewatering equipment declined by about 12 percent. ) Tj ET Q q 0 0 0 rg BT 450.25 213.25 Td (The decline in mobile ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.25 Td (dewatering equipment is primarily attributed to reduced demand in the oil and gas end markets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 177.25 Td (ater Systems sales in Europe, Middle East and ) Tj ET Q q 0 0 0 rg BT 245.55 177.25 Td (Africa were about 17 percent of consolidated sales and declined by about 4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 165.25 Td (percent compared to 2015. ) Tj ET Q q 0 0 0 rg BT 158.95 165.25 Td (W) Tj ET Q q 0 0 0 rg BT 167.58 165.25 Td (ater Systems in Europe, the Middle East and ) Tj ET Q q 0 0 0 rg BT 347.27 165.25 Td (Africa were reduced by $10.5 million or about 6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.25 Td (percent due to foreign currency translation. Excluding the impact of foreign currency translation, sales were up in 2016 by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.25 Td (about 2 percent compared to 2015. ) Tj ET Q q 0 0 0 rg BT 191.16 141.25 Td (The growth was driven by strong sales of groundwater pumping equipment in ) Tj ET Q q 0 0 0 rg BT 504.81 141.25 Td (T) Tj ET Q q 0 0 0 rg BT 510.57 141.25 Td (urkey) Tj ET Q q 0 0 0 rg BT 532.69 141.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.25 Td (In local currency sales in ) Tj ET Q q 0 0 0 rg BT 152.28 129.25 Td (T) Tj ET Q q 0 0 0 rg BT 158.03 129.25 Td (urkey grew; however) Tj ET Q q 0 0 0 rg BT 242.60 129.25 Td (, this growth was of) Tj ET Q q 0 0 0 rg BT 321.58 129.25 Td (fset by sales declines in other parts of the region due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.25 Td (political and economic turmoil and the lower price of oil which reduced investment by the public sector) Tj ET Q q 0 0 0 rg BT 464.47 117.25 Td (, particularly in Saudi ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.25 Td (Arabia.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 81.25 Td (ater Systems sales in Latin ) Tj ET Q q 0 0 0 rg BT 167.23 81.25 Td (America were about 14 percent of consolidated sales for 2016 and declined by about 1 percent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.25 Td (compared to 2015. Sales revenue decreased by $8.5 million or about 7 percent in 2016 due to foreign currency translation. ) Tj ET Q q 0 0 0 rg BT 544.11 69.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.25 Td (sales change in 2016, excluding foreign currency translation, was an increase of $7.4 million or about 6 percent. ) Tj ET Q q 0 0 0 rg BT 500.79 57.25 Td (The growth in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 45.25 Td (sales was led by increased sales in Mexico and Brazil, in local currency) Tj ET Q q 0 0 0 rg BT 335.63 45.25 Td (. ) Tj ET Q q 0 0 0 rg BT 340.45 45.25 Td (This sales growth is a result of increasing demand for ) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Franklin submersible pumps and motors, customer acceptance of the many product line upgrades that have been implemented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (over the past two years, and general market conditions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 706.10 Td (ater Systems sales in the ) Tj ET Q q 0 0 0 rg BT 158.34 706.10 Td (Asia Pacific region were 9 percent of consolidated sales and grew by about 12 percent compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (the prior year) Tj ET Q q 0 0 0 rg BT 103.31 694.10 Td (. Foreign currency translation rate changes decreased sales in 2016 in the ) Tj ET Q q 0 0 0 rg BT 397.37 694.10 Td (Asia Pacific region by less than a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (percent. ) Tj ET Q q 0 0 0 rg BT 84.24 682.10 Td (The ) Tj ET Q q 0 0 0 rg BT 101.74 682.10 Td (Asia Pacific region experienced strong year over year growth in Southeast ) Tj ET Q q 0 0 0 rg BT 400.81 682.10 Td (Asia and ) Tj ET Q q 0 0 0 rg BT 438.02 682.10 Td (Australia.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Net Sales-Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (Fueling Systems sales which represented 24 percent of consolidated sales were $226.7 million in 2016, an increase of $9.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (million or about 4 percent versus 2015. Foreign currency translation rate changes decreased sales $1.8 million or about 1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (percent compared to sales in 2015. ) Tj ET Q q 0 0 0 rg BT 191.16 622.10 Td (The sales change in 2016, excluding acquisitions and foreign currency translation, was an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (increase of $1) Tj ET Q q 0 0 0 rg BT 105.71 610.10 Td (1.2 million or about 5 percent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Fueling Systems sales in the U.S. and Canada grew by about 8 percent in 2016 compared to the prior year with sales growth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (coming from most product lines, most significantly our pumping and fuel management systems. Fueling Systems sales in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (rest of the world were down about 2 percent year over year) Tj ET Q q 0 0 0 rg BT 285.74 562.10 Td (. In 2016, Fueling Systems revenues increased in the ) Tj ET Q q 0 0 0 rg BT 500.70 562.10 Td (Asia Pacific ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (regions by about 14 percent, driven by higher sales in India. ) Tj ET Q q 0 0 0 rg BT 292.26 550.10 Td (This growth in ) Tj ET Q q 0 0 0 rg BT 353.09 550.10 Td (Asia was more than of) Tj ET Q q 0 0 0 rg BT 442.89 550.10 Td (fset by a sales decline in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Europe principally due to a 42 percent decline in the sale of storage tanks that support North Sea oil production.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Cost of Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Cost of sales as a percent of net sales for 2016 and 2015 was 65.1 percent and 67.8 percent, respectively) Tj ET Q q 0 0 0 rg BT 465.88 502.10 Td (. Correspondingly) Tj ET Q q 0 0 0 rg BT 537.45 502.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (gross profit mar) Tj ET Q q 0 0 0 rg BT 113.70 490.10 Td (gin increased to 34.9 percent from 32.2 percent, a 270 basis point improvement. ) Tj ET Q q 0 0 0 rg BT 435.93 490.10 Td (The gross profit mar) Tj ET Q q 0 0 0 rg BT 517.67 490.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (increase was primarily due to lower raw material costs and lower fixed costs. Direct materials as a percentage of sales was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (44.8 percent down 210 basis points compared to 46.9 percent last year) Tj ET Q q 0 0 0 rg BT 330.76 466.10 Td (. ) Tj ET Q q 0 0 0 rg BT 338.08 466.10 Td (This decrease in direct materials was primarily due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (favorable pricing and lower direct material costs. ) Tj ET Q q 0 0 0 rg BT 251.13 454.10 Td (The Company's consolidated gross profit was $331.4 million for 2016, up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td ($33.8 million or 1) Tj ET Q q 0 0 0 rg BT 121.85 442.10 Td (1 percent from 2015.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (Selling, General and ) Tj ET Q q 0 0 0 rg BT 137.42 418.10 Td (Administrative \(SG&A\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (Selling, general, and administrative \(SG&A\) expenses were $221.2 million in 2016 and increased by $16.9 million or about 8 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (percent in 2016 compared to last year) Tj ET Q q 0 0 0 rg BT 199.95 394.10 Td (. In 2016, increases in SG&A) Tj ET Q q 0 0 0 rg BT 317.43 394.10 Td ( attributable to higher variable compensation expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (about $12 million or about 6 percent. ) Tj ET Q q 0 0 0 rg BT 200.53 382.10 Td (Additional year over year changes in SG&A) Tj ET Q q 0 0 0 rg BT 377.70 382.10 Td ( costs were primarily in Marketing and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Selling related expenses which increased about $2.5 million to support sales growth and, also, Research, Development & ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (Engineering expense which increased by $2.3 million in the year) Tj ET Q q 0 0 0 rg BT 308.81 358.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Restructuring \(Income\)/Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (Restructuring expenses for 2016 netted to a gain of $\(0.6\) million and increased diluted earnings per share about $0.01. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Restructuring expenses for 2016 included a gain of $\(2.0\) million from the sale of land and building in Brazil and $1.4 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (in expenses related to severance and pension costs, equipment relocation expenses, asset write-downs and other costs related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (the transfer of production activities and other restructuring costs from continued manufacturing realignments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (Restructuring expenses for 2015 were $3.0 million and decreased diluted earnings per share about $0.04. Restructuring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (expenses in 2015 included severance and pension costs, equipment relocation expenses, and asset write-downs primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (related to the closure of the ) Tj ET Q q 0 0 0 rg BT 161.44 238.10 Td (W) Tj ET Q q 0 0 0 rg BT 170.48 238.10 Td (ittlich, Germany facility and other manufacturing realignment activities in Europe and Brazil. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (Operating Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Operating income was $1) Tj ET Q q 0 0 0 rg BT 152.10 202.10 Td (10.8 million in 2016, up $20.4 million from $90.4 million in 2015.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 149.60 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 149.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 149.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 149.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 149.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 149.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 149.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 119.60 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 119.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 119.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 119.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 119.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 119.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 119.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 179.60000000000002 m 423.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 164.60000000000002 m 423.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 179.60000000000002 m 427.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 164.60000000000002 m 427.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 179.60000000000002 m 492.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 164.60000000000002 m 492.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 179.60000000000002 m 496.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 164.60000000000002 m 496.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 179.60000000000002 m 561.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 164.60000000000002 m 561.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 164.60000000000002 m 423.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 149.60000000000002 m 423.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 164.60000000000002 m 492.5 164.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 149.60000000000002 m 492.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 149.60000000000002 m 561.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 149.60000000000002 m 423.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 149.60000000000002 m 492.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 104.60000000000002 m 423.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 104.60000000000002 m 492.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 104.60000000000002 m 561.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 104.60000000000002 m 423.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 90.60000000000002 m 423.5 90.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 88.60000000000002 m 423.5 88.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 104.60000000000002 m 492.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 90.60000000000002 m 492.5 90.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 88.60000000000002 m 492.5 88.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 90.60000000000002 m 561.5 90.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 88.60000000000002 m 561.5 88.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 169.27 Td (Operating income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 154.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 154.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 154.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.50 154.27 Td (2016 v 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 139.27 Td (Water Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 139.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 139.27 Td (108.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 139.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 139.27 Td (86.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 139.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 139.27 Td (21.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 124.27 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 124.27 Td (56.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 124.27 Td (51.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 124.27 Td (4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 109.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 109.32 Td (\(53.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 109.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 109.32 Td (\(47.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 109.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 109.32 Td (\(5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 109.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 94.27 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 94.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 94.27 Td (110.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 94.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 94.27 Td (90.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 94.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 94.27 Td (20.4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.10 Td (There were specific items in 2016 and 2015 that impacted operating income.) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (In 2016 they were as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td ($\(0.6\) million of net restructuring char) Tj ET Q q 0 0 0 rg BT 240.22 730.10 Td (ges. Restructuring \(income\)/expenses in 2016 included a gain of $\(2.0\) million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (from the sale of land and building in Brazil, $0.4 million in asset write-of) Tj ET Q q 0 0 0 rg BT 379.37 718.10 Td (fs, $0.2 million in severance and pension ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (cost, $0.2 million expenses related to equipment transfers and freight costs and $0.6 million in other relocation costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (primarily related to other manufacturing realignment activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 670.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td ($1.2 million related to executive transition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td ($0.1 million in other miscellaneous costs related to closed acquisitions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (In 2015 they were as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (There were $3.0 million of restructuring char) Tj ET Q q 0 0 0 rg BT 266.59 610.10 Td (ges. Restructuring expenses in 2015 were $0.6 million in severance cost, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td ($0.6 million in pension cost, $0.6 million expenses related to equipment transfers and freight costs, $0.1 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (asset write-of) Tj ET Q q 0 0 0 rg BT 139.96 586.10 Td (fs and $1.1 million in other relocation costs primarily related to the closure of the ) Tj ET Q q 0 0 0 rg BT 467.47 586.10 Td (W) Tj ET Q q 0 0 0 rg BT 476.51 586.10 Td (ittlich, Germany ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (facility and other manufacturing realignment activities in Europe and Brazil.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td ($1.2 million related to executive transition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.10 Td ($0.7 million related to business realignment cost, primarily severance, in tar) Tj ET Q q 0 0 0 rg BT 389.90 526.10 Td (geted fixed cost reduction actions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.10 Td ($0.2 million in other miscellaneous costs related to closed acquisitions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (The Company refers to these items as non-GAAP) Tj ET Q q 0 0 0 rg BT 252.64 478.10 Td ( adjustments for purposes of presenting the non-GAAP) Tj ET Q q 0 0 0 rg BT 476.95 478.10 Td ( financial measures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (of operating income after non-GAAP) Tj ET Q q 0 0 0 rg BT 199.03 466.10 Td ( adjustments and percent operating income to net sales after non-GAAP) Tj ET Q q 0 0 0 rg BT 485.80 466.10 Td ( adjustments to net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (sales \(operating income mar) Tj ET Q q 0 0 0 rg BT 162.83 454.10 Td (gin after non-GAAP) Tj ET Q q 0 0 0 rg BT 244.11 454.10 Td ( adjustments\).) Tj ET Q q 0 0 0 rg BT 305.03 454.10 Td (The Company believes this information helps investors and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (management understand underlying trends in the Company's business more easily and by presenting these matters in this way) Tj ET Q q 0 0 0 rg BT 551.88 442.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (gives our investors and management a more accurate picture of the actual operational performance of the Company) Tj ET Q q 0 0 0 rg BT 510.83 430.10 Td (. ) Tj ET Q q 0 0 0 rg BT 515.65 430.10 Td (The non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 76.86 418.10 Td ( adjustments are for restructuring expenses, reported separately on the income statement, as well as certain legal matters ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (and acquisition related items which are included in SG&A) Tj ET Q q 0 0 0 rg BT 283.28 406.10 Td ( on the income statement.) Tj ET Q q 0 0 0 rg BT 390.57 406.10 Td (The dif) Tj ET Q q 0 0 0 rg BT 419.54 406.10 Td (ferences between these non-GAAP) Tj ET Q q 0 0 0 rg BT 559.39 406.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (financial measures and the most comparable GAAP) Tj ET Q q 0 0 0 rg BT 256.79 394.10 Td ( measures are reconciled in the following tables:) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 689.50 272.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 689.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 689.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 689.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 689.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 663.50 272.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 663.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 663.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 663.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 663.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 637.50 272.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 637.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 637.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 637.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 637.50 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 611.50 272.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 611.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 611.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 611.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 611.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 526.50 272.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 526.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 526.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 526.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 526.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 496.50 272.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 496.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 496.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 496.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 496.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 466.50 272.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 466.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 466.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 466.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 466.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 436.50 272.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 436.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 436.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 436.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 436.50 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 702.5 m 381.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 702.5 m 441.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 702.5 m 501.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 702.5 m 561.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 611.5 m 381.5 611.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 611.5 m 441.5 611.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 611.5 m 501.5 611.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 611.5 m 561.5 611.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 541.5 m 381.5 541.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 541.5 m 441.5 541.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 541.5 m 501.5 541.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 541.5 m 561.5 541.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 436.5 m 381.5 436.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 436.5 m 441.5 436.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 436.5 m 501.5 436.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 436.5 m 561.5 436.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 738.17 Td (Operating Income and Margins) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 723.17 Td (Before and After Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 707.17 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.40 707.17 Td (For the Full Year of 2016) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 339.15 691.7333984375 m 362.773046875 691.7333984375 l s q 0 0 0 rg BT 339.15 693.07 Td (Water) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 395.7 691.7333984375 m 426.256640625 691.7333984375 l s q 0 0 0 rg BT 395.70 693.07 Td (Fueling) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 459.6 691.7333984375 m 482.3685546875 691.7333984375 l s q 0 0 0 rg BT 459.60 693.07 Td (Other) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 504.6 691.7333984375 m 557.3734375 691.7333984375 l s q 0 0 0 rg BT 504.60 693.07 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 680.07 Td (Reported Operating Income/\(Loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 680.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 680.07 Td (108.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 680.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 680.07 Td (56.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 680.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.80 680.12 Td (\(53.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 680.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 680.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 680.07 Td (110.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 667.07 Td (% Operating Income To Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.15 667.07 Td (15.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 667.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 667.07 Td (24.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 667.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 667.07 Td (11.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 667.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 641.07 Td (Non-GAAP Adjustments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 628.07 Td (Restructuring) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.80 628.12 Td (\(1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 628.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 628.07 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 628.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 628.12 Td (\(0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 628.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 615.07 Td (Non-GAAP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 615.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 615.07 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 615.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 615.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 615.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 615.07 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 615.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 615.07 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 601.17 Td (Operating Income/\(Loss\) after Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 601.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 601.17 Td (107.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 601.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 601.17 Td (56.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 601.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.80 601.22 Td (\(52.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 601.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 601.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 601.17 Td (111.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 586.17 Td (% Operating Income to Net Sales after Non-GAAP) Tj ET Q q 0 0 0 rg BT 256.85 586.17 Td ( adjustments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 576.17 Td (\(Operating Income Mar) Tj ET Q q 0 0 0 rg BT 146.78 576.17 Td (gin after Non-GAAP) Tj ET Q q 0 0 0 rg BT 230.28 576.17 Td ( ) Tj ET Q q 0 0 0 rg BT 232.23 576.17 Td (Adjustments\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.15 576.17 Td (14.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 576.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 576.17 Td (25.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 576.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 576.17 Td (11.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 576.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.40 546.17 Td (For the Full Year of 2015) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 339.15 529.8333984375 m 362.773046875 529.8333984375 l s q 0 0 0 rg BT 339.15 531.17 Td (Water) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 395.7 529.8333984375 m 426.256640625 529.8333984375 l s q 0 0 0 rg BT 395.70 531.17 Td (Fueling) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 459.6 529.8333984375 m 482.3685546875 529.8333984375 l s q 0 0 0 rg BT 459.60 531.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 504.6 529.8333984375 m 557.3734375 529.8333984375 l s q 0 0 0 rg BT 504.60 531.17 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 516.17 Td (Reported Operating Income/\(Loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 516.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.15 516.17 Td (86.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 516.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 516.17 Td (51.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 516.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.80 516.22 Td (\(47.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 516.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 516.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 516.17 Td (90.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 501.17 Td (% Operating Income To Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.15 501.17 Td (12.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 501.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 501.17 Td (23.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 501.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 501.17 Td (9.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 501.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 471.17 Td (Non-GAAP Adjustments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 456.17 Td (Restructuring) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 456.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 456.17 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 456.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 456.17 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 456.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 456.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 456.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 456.17 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 441.17 Td (Non-GAAP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 441.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 441.17 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 441.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 441.17 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 441.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 441.17 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 441.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 441.17 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 426.17 Td (Operating Income/\(Loss\) after Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 426.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.15 426.17 Td (90.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 426.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 426.17 Td (52.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 426.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.80 426.22 Td (\(46.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 426.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 426.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 426.17 Td (95.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 411.17 Td (% Operating Income to Net Sales after Non-GAAP) Tj ET Q q 0 0 0 rg BT 256.85 411.17 Td ( adjustments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 401.17 Td (\(Operating Income Mar) Tj ET Q q 0 0 0 rg BT 146.78 401.17 Td (gin after Non-GAAP) Tj ET Q q 0 0 0 rg BT 230.28 401.17 Td ( ) Tj ET Q q 0 0 0 rg BT 232.23 401.17 Td (Adjustments\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.15 401.17 Td (12.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 401.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 401.17 Td (23.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 401.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 401.17 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 401.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 373.00 Td (Operating Income-W) Tj ET Q q 0 0 0 rg BT 136.76 373.00 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.00 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 361.00 Td (ater Systems operating income was $108.2 million in 2016, up $21.5 million or 25 percent versus the 2015 as reported and up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.00 Td ($17.0 million or 19 percent versus the 2015 after non-GAAP) Tj ET Q q 0 0 0 rg BT 292.92 349.00 Td ( adjustments. ) Tj ET Q q 0 0 0 rg BT 348.01 349.00 Td (The 2016 operating income mar) Tj ET Q q 0 0 0 rg BT 476.12 349.00 Td (gin was 15.0 percent, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.00 Td (up 270 basis points from 12.3 percent in 2015. ) Tj ET Q q 0 0 0 rg BT 238.41 337.00 Td (The 2016 operating income mar) Tj ET Q q 0 0 0 rg BT 366.52 337.00 Td (gin after non-GAAP) Tj ET Q q 0 0 0 rg BT 447.80 337.00 Td ( adjustments was 14.8 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.00 Td (percent, an increase of 210 basis points from the 12.7 percent of net sales in 2015 after non-GAAP) Tj ET Q q 0 0 0 rg BT 444.24 325.00 Td ( adjustments. ) Tj ET Q q 0 0 0 rg BT 499.33 325.00 Td (The increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.00 Td (basis points was primarily due to improved mar) Tj ET Q q 0 0 0 rg BT 240.62 313.00 Td (gins from lower variable costs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 289.00 Td (Operating Income-Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.00 Td (Fueling Systems operating income was $56.3 million in 2016, up $4.8 million or about 9 percent compared to $51.5 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 265.00 Td (2015 as reported, and up $4.9 million or 9 percent compared to $52.0 million after non-GAAP) Tj ET Q q 0 0 0 rg BT 427.32 265.00 Td ( adjustments in 2015. ) Tj ET Q q 0 0 0 rg BT 515.20 265.00 Td (The 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.00 Td (operating income mar) Tj ET Q q 0 0 0 rg BT 137.56 253.00 Td (gin was 24.8 percent, an increase of 1) Tj ET Q q 0 0 0 rg BT 287.97 253.00 Td (10 basis points from the as reported 23.7 percent of net sales in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.00 Td (2015. ) Tj ET Q q 0 0 0 rg BT 74.82 241.00 Td (The 2016 operating income mar) Tj ET Q q 0 0 0 rg BT 202.93 241.00 Td (gin after non-GAAP) Tj ET Q q 0 0 0 rg BT 284.21 241.00 Td ( adjustments was 25.1 percent, an increase of 120 basis points from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.00 Td (the 23.9 percent of net sales in 2015 after non-GAAP) Tj ET Q q 0 0 0 rg BT 262.91 229.00 Td ( adjustments. ) Tj ET Q q 0 0 0 rg BT 318.00 229.00 Td (The increase in basis points was primarily due to improved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.00 Td (mar) Tj ET Q q 0 0 0 rg BT 65.37 217.00 Td (gins from lower variable costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 205.00 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 193.00 Td (Operating Income-Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.00 Td (Operating income-other is composed primarily of unallocated general and administrative expenses.General and administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.00 Td (expenses after non-GAAP) Tj ET Q q 0 0 0 rg BT 154.60 169.00 Td ( adjustments were higher by about 13 percent, primarily due to higher variable compensation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.00 Td (expenses.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 133.00 Td (Interest Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.00 Td (Interest expense for 2016 and 2015 was $8.7 million and $10.0 million, respectively) Tj ET Q q 0 0 0 rg BT 386.23 121.00 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 97.00 Td (Other Income or Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.00 Td (Other income or expense was a gain of $1.0 million in 2016. Included in other income or expense in 2016 was minority income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.00 Td (of $1.7 million and interest income of $1.0 million, primarily derived from the investment of cash balances in short-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.00 Td (securities. In 2016, other expenses also included the reversal of an indemnification receivable related to a contingent tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.00 Td (liability for $1.9 million recorded at the time of a foreign acquisition. ) Tj ET Q q 0 0 0 rg BT 331.69 49.00 Td (The contingent tax liability was for the same amount and ) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (was also reversed in 2016 and the benefit was recorded in the income tax provision. Other income or expense was income of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td ($6.9 million in 2015. Included in other income or expense in 2016 was minority income of $2.8 million and interest income of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td ($1.3 million, primarily derived from the investment of cash balances in short-term securities. ) Tj ET Q q 0 0 0 rg BT 424.17 718.10 Td (The Company also realized a gain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (on the settlement of the redeemable non-controlling interest liability in the first quarter of 2015 of about $2.7 million. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Foreign Exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Foreign currency-based transactions produced a gain for 2016 of $1.1 million, primarily due to the ) Tj ET Q q 0 0 0 rg BT 446.66 670.10 Td (T) Tj ET Q q 0 0 0 rg BT 452.41 670.10 Td (urkish lira relative to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (U.S. dollar and euro.Foreign currency-based transactions produced a loss for 2015 of $0.9 million, primarily due to the South ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (African rand, Colombian peso and ) Tj ET Q q 0 0 0 rg BT 189.97 646.10 Td (Australian dollar relative to the U.S. dollar) Tj ET Q q 0 0 0 rg BT 360.63 646.10 Td (, none of which individually were significant.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 88.80 622.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (The provision for income taxes in 2016 and 2015 was $24.8 million and $12.6 million, respectively) Tj ET Q q 0 0 0 rg BT 447.62 610.10 Td (. ) Tj ET Q q 0 0 0 rg BT 452.44 610.10 Td (The tax rate for 2016 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (23.8 percent and 2015 was 14.6 percent. Discrete adjustments in 2016 were primarily due to the favorable impact from equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (compensation share based payments and the reversal of a contingent tax liability of) Tj ET Q q 0 0 0 rg BT 382.49 586.10 Td (fset by adjustments to the Company) Tj ET Q q 0 0 0 rg BT 528.86 586.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (valuation allowance against certain state deferred tax assets that are not likely to be realized. Discrete adjustments during 2015 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (were the reversal of a deferred tax liability of about $4.8 million created in 2012 when the Company acquired the controlling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (interest in the Pioneer subsidiary and realized a gain on the then equity investment in Pioneer) Tj ET Q q 0 0 0 rg BT 422.40 550.10 Td (. ) Tj ET Q q 0 0 0 rg BT 429.72 550.10 Td (This purchase transaction also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (resulted in other tax benefits of about $3.5 million. ) Tj ET Q q 0 0 0 rg BT 255.61 538.10 Td (The tax rate before discrete adjustments for 2016 was about 26 percent and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (2015 was about 27 percent. ) Tj ET Q q 0 0 0 rg BT 162.01 526.10 Td (The tax rate is lower than the statutory rate of 35 percent primarily due to the indefinite ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (reinvestment of foreign earnings and reduced taxes on foreign and repatriated earnings. ) Tj ET Q q 0 0 0 rg BT 401.63 514.10 Td (The Company has the ability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (indefinitely reinvest these foreign earnings based on the earnings and cash projections of its other operations, current cash on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (hand and available credit.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Net income for 2016 was $79.3 million compared to 2015 net income of $73.7 million.Net income attributable to Franklin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Electric Co., Inc. for 2016 was $78.7 million, or $1.65 per diluted share, compared to 2015 net income attributable to Franklin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Electric Co., Inc. of $72.9 million or $1.50 per diluted share. Net income attributable to Franklin Electric Co., Inc. after Non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 76.86 418.10 Td ( adjustments for 2016 was $77.4 million, or $1.66 per diluted share, compared to 2015 net income attributable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (Franklin Electric Co., Inc. after Non-GAAP) Tj ET Q q 0 0 0 rg BT 225.14 406.10 Td ( adjustments of $69.7 million or $1.47 per diluted share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (There were specific items in 2016 and 2015 that impacted net income attributable to Franklin Electric Co., Inc. ) Tj ET Q q 0 0 0 rg BT 498.56 382.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (refers to these items as non-GAAP) Tj ET Q q 0 0 0 rg BT 193.20 370.10 Td ( adjustments for purposes of presenting the non-GAAP) Tj ET Q q 0 0 0 rg BT 417.51 370.10 Td ( financial measures of net income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (attributable to Franklin Electric Co., Inc. and adjusted EPS.) Tj ET Q q 0 0 0 rg BT 292.54 358.10 Td (The Company believes this information helps investors understand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (underlying trends in the Company's business more easily) Tj ET Q q 0 0 0 rg BT 276.95 346.10 Td (.) Tj ET Q q 0 0 0 rg BT 284.27 346.10 Td (The dif) Tj ET Q q 0 0 0 rg BT 313.25 346.10 Td (ferences between these non-GAAP) Tj ET Q q 0 0 0 rg BT 453.10 346.10 Td ( financial measures and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (most comparable GAAP) Tj ET Q q 0 0 0 rg BT 147.94 334.10 Td ( measures are reconciled in the following tables:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 67.00 258.60 239.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 258.60 79.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 258.60 79.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 258.60 80.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.00 217.60 239.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 217.60 79.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 217.60 79.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 217.60 80.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.00 181.60 239.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 181.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 181.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 181.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.00 151.60 239.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 151.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 151.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 151.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.00 121.60 239.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 121.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 121.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 121.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.00 91.60 239.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 91.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 91.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 91.60 80.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 278.6 m 385 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 278.6 m 464 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 278.6 m 544 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 278.6 m 385 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 278.6 m 464 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 217.60000000000002 m 385 217.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 217.60000000000002 m 464 217.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 283.27 Td (Earnings Before and After Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.60 283.27 Td (For the Full Year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 263.27 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 335 261.93339843750005 m 355 261.93339843750005 l s q 0 0 0 rg BT 335.00 263.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 414 261.93339843750005 m 434 261.93339843750005 l s q 0 0 0 rg BT 414.00 263.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 488.2 261.93339843750005 m 518.746875 261.93339843750005 l s q 0 0 0 rg BT 488.20 263.27 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 249.17 Td (Net Income attributable to Franklin Electric Co., Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 239.17 Td (Reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 240.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 240.27 Td (78.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 240.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 240.27 Td (72.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 240.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 240.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 222.27 Td (Allocated Undistributed Earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 222.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.30 222.32 Td (\(1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 222.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 222.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.30 222.32 Td (\(1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 222.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 204.27 Td (Earnings for EPS Calculations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 204.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 204.27 Td (77.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 204.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 204.27 Td (71.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 204.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 204.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 69.5 184.93339843750005 m 219.373046875 184.93339843750005 l s q 0 0 0 rg BT 69.50 186.27 Td (Non-GAAP adjustments \(before tax\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 171.27 Td (Restructuring) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 171.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.30 171.32 Td (\(0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 171.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 171.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 171.27 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 156.27 Td (Non-GAAP items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 156.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 156.27 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 156.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 156.27 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 141.27 Td (Pioneer tax benefits on equity gain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 141.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 141.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 141.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.30 141.32 Td (\(4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 141.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 69.5 124.93339843750005 m 212.72265625 124.93339843750005 l s q 0 0 0 rg BT 69.50 126.27 Td (Non-GAAP adjustments, net of tax:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 111.27 Td (Restructuring) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 111.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.30 111.32 Td (\(0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 111.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 111.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 111.27 Td (1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 96.27 Td (Non-GAAP items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 96.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 96.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 96.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 96.27 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 81.27 Td (Pioneer tax benefits on equity gain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 81.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 81.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 81.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.30 81.32 Td (\(4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 81.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 56.27 Td (Earnings after Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 56.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 56.27 Td (77.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 56.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 56.27 Td (69.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 56.27 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 56.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 62.50 685.60 261.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 685.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 685.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 685.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 685.60 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 685.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.50 655.60 261.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 655.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 655.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 655.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 655.60 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 655.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.50 625.60 261.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 625.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 625.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 625.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 625.60 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 625.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.50 595.60 261.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 595.60 69.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 595.60 8.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 595.60 69.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 595.60 9.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 595.60 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.50 563.60 261.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 563.60 69.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 563.60 8.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 563.60 69.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 563.60 9.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 563.60 70.00 -22.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 700.6 m 392.5 700.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 700.6 m 400.5 700.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 700.6 m 469.5 700.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 700.6 m 478.5 700.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 700.6 m 548.5 700.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 700.6 m 392.5 700.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 700.6 m 469.5 700.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 705.27 Td (Earnings Per Share Before and After Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.60 705.27 Td (For the Full Year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 690.27 Td (\(in millions except per-share data\)) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 347.5 688.9333984375 m 367.5 688.9333984375 l s q 0 0 0 rg BT 347.50 690.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 424.5 688.9333984375 m 444.5 688.9333984375 l s q 0 0 0 rg BT 424.50 690.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 497.7 688.9333984375 m 528.246875 688.9333984375 l s q 0 0 0 rg BT 497.70 690.27 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 675.27 Td (Average Fully Diluted Shares Outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.00 675.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 675.27 Td (46.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 675.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 675.27 Td (47.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.95 675.27 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 675.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 645.27 Td (Fully Diluted Earnings Per Share \("EPS"\) Reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.00 645.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 645.27 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 645.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 645.27 Td (1.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.30 645.27 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 645.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 615.27 Td (Restructuring Per Share, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.00 615.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 615.32 Td (\(0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 615.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 615.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 615.27 Td (0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 600.27 Td (Non-GAAP items, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.00 600.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 600.27 Td (0.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 600.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 600.27 Td (0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 584.27 Td (Pioneer tax benefits on equity gain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.00 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 584.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 584.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.80 584.32 Td (\(0.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 584.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 554.17 Td (Fully Diluted EPS after Non-GAAP Adjustments \(Adjusted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 544.22 Td (EPS\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.00 546.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 546.27 Td (1.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 546.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 546.27 Td (1.47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.30 546.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 546.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 518.10 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 70.00 518.10 Td ( vs. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.83 518.10 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 105.83 518.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 494.10 Td (OVER) Tj ET Q q 0 0 0 rg BT 76.42 494.10 Td (VIEW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 470.10 Td (Sales in 2015 decreased from the prior year) Tj ET Q q 0 0 0 rg BT 223.55 470.10 Td (.Net sales in 2015 were $924.9 million, a decrease of about 12 percent compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.10 Td (to 2014 sales of $1,047.8 million. ) Tj ET Q q 0 0 0 rg BT 186.76 458.10 Td (The sales decrease was primarily the impact of foreign currency translation as the US dollar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.10 Td (strengthened against certain foreign currencies and lower sales volume, partially of) Tj ET Q q 0 0 0 rg BT 382.19 446.10 Td (fset by sales price increases, as well as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 434.10 Td (Company's acquisitions. ) Tj ET Q q 0 0 0 rg BT 149.67 434.10 Td (The Company's consolidated gross profit was $297.6 million for 2015, a decrease of $46.8 million or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.10 Td (about 14 percent from 2014. ) Tj ET Q q 0 0 0 rg BT 165.90 422.10 Td (The gross profit as a percent of net sales decreased 70 basis points to 32.2 percent in 2015 from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.10 Td (32.9 percent in 2014. ) Tj ET Q q 0 0 0 rg BT 137.02 410.10 Td (The gross profit mar) Tj ET Q q 0 0 0 rg BT 218.76 410.10 Td (gin change was due primarily to lost leverage on fixed cost due to lower sales. For ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.10 Td (2015, diluted earnings per share were $1.50, an increase of 6 percent compared to 2014 diluted earnings per share of $1.41. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.10 Td (Adjusted earnings per share were $1.47, a decrease of 16 percent versus the $1.76 adjusted earnings per share in 2014 \(see the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.10 Td (table below for a reconciliation of the GAAP) Tj ET Q q 0 0 0 rg BT 229.85 374.10 Td ( EPS to the adjusted EPS\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.10 Td (RESUL) Tj ET Q q 0 0 0 rg BT 80.75 350.10 Td (TS OF OPERA) Tj ET Q q 0 0 0 rg BT 141.88 350.10 Td (TIONS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 326.10 Td (Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.10 Td (Net sales in 2015 were $924.9 million, a decrease of $122.9 million or about 12 percent compared to 2014 sales of $1,047.8 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.10 Td (million. ) Tj ET Q q 0 0 0 rg BT 86.21 302.10 Td (The incremental impact of sales from acquired businesses was $21.3 million or about 2 percent.Sales revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.10 Td (decreased by $89.3 million or about 9 percent in 2015 due to foreign currency translation. ) Tj ET Q q 0 0 0 rg BT 411.66 290.10 Td (The sales change in 2015, excluding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td (acquisitions and foreign currency translation, was a decrease of $54.9 million or about 5 percent.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 225.60 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 225.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 225.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 225.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 225.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 225.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 225.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 195.60 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 195.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 195.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 195.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 195.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 195.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 195.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 255.60000000000002 m 423.5 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 240.60000000000002 m 423.5 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 255.60000000000002 m 427.5 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 240.60000000000002 m 427.5 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 255.60000000000002 m 492.5 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 240.60000000000002 m 492.5 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 255.60000000000002 m 496.5 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 240.60000000000002 m 496.5 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 255.60000000000002 m 561.5 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 240.60000000000002 m 561.5 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 240.60000000000002 m 423.5 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 225.60000000000002 m 423.5 225.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 240.60000000000002 m 492.5 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 225.60000000000002 m 492.5 225.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 225.60000000000002 m 561.5 225.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 225.60000000000002 m 423.5 225.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 225.60000000000002 m 492.5 225.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 195.60000000000002 m 423.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 195.60000000000002 m 492.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 195.60000000000002 m 561.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 181.60000000000002 m 423.5 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 179.60000000000002 m 423.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 181.60000000000002 m 492.5 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 179.60000000000002 m 492.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 181.60000000000002 m 561.5 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 179.60000000000002 m 561.5 179.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.45 245.27 Td (Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 230.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 230.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 230.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.50 230.27 Td (2015 v 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 215.27 Td (Water Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 215.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 215.27 Td (707.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 215.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 215.27 Td (824.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 215.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 215.32 Td (\(117.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 215.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 200.27 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 200.27 Td (217.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 200.27 Td (223.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 200.32 Td (\(5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 200.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 185.27 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 185.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 185.27 Td (924.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 185.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 185.27 Td (1,047.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 185.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 185.32 Td (\(122.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 185.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (Net Sales-W) Tj ET Q q 0 0 0 rg BT 100.09 157.10 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 145.10 Td (ater Systems sales were $707.6 million in 2015, a decrease of $1) Tj ET Q q 0 0 0 rg BT 316.81 145.10 Td (17.0 million or 14 percent versus 2014. ) Tj ET Q q 0 0 0 rg BT 476.33 145.10 Td (The incremental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (impact of sales from acquired businesses was $20.8 million or about 2 percent. Foreign currency translation rate changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (decreased sales $78.3 million, or about 9 percent, compared to sales in 2014. ) Tj ET Q q 0 0 0 rg BT 359.45 121.10 Td (The sales change in 2015, excluding acquisitions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (and foreign currency translation, was a decrease of $59.5 million or about 7 percent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 85.10 Td (ater Systems sales in the U.S. and Canada were 36 percent of consolidated sales and declined by about 20 percent in 2015 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.10 Td (compared to the prior year) Tj ET Q q 0 0 0 rg BT 155.51 73.10 Td (. Sales revenue decreased by $5.9 million or about 1 percent in 2015 due to foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.10 Td (translation. In 2015, U.S. and Canada sales of Pioneer branded mobile dewatering equipment declined by about 55 percent. ) Tj ET Q q 0 0 0 rg BT 545.51 61.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.10 Td (decline in mobile dewatering equipment is primarily attributed to reduced demand in the oil and gas end markets. Sales of ) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (groundwater pumping equipment declined by about 14 percent, and sales of surface water pumping equipment declined by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (about 6 percent versus 2014. ) Tj ET Q q 0 0 0 rg BT 167.01 730.10 Td (The decline in groundwater equipment sales is attributable primarily to weaker demand in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (agriculture sector as a result of less favorable weather and to a lesser extent, distributor changes the Company made in its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (primary groundwater distribution channel. Sales of surface water pumping equipment also declined due to lower condensate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (pump sales as cooler temperatures delayed the start to the HV) Tj ET Q q 0 0 0 rg BT 295.85 694.10 Td (AC season.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 670.10 Td (ater Systems sales in Latin ) Tj ET Q q 0 0 0 rg BT 167.23 670.10 Td (America were about 14 percent of consolidated sales for 2015 and declined by about 9 percent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (compared to the prior year) Tj ET Q q 0 0 0 rg BT 155.51 658.10 Td (. ) Tj ET Q q 0 0 0 rg BT 159.96 658.10 Td (Acquisition related sales during 2015 were $10.4 million or about 7 percent. Foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (translation rate changes decreased sales $34.7 million, or about 24 percent, compared to sales in 2014. Excluding acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (and foreign currency translation, sales in Latin ) Tj ET Q q 0 0 0 rg BT 238.27 634.10 Td (America grew by about 8 percent during 2015. ) Tj ET Q q 0 0 0 rg BT 427.75 634.10 Td (The growth in sales was led by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (increased sales in Mexico and Brazil, in local currency) Tj ET Q q 0 0 0 rg BT 268.43 622.10 Td (. ) Tj ET Q q 0 0 0 rg BT 273.25 622.10 Td (This sales growth is a result of increasing demand for Franklin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (submersible pumps and motors, customer acceptance of the many product line upgrades that have been implemented over the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (past two years, and general market conditions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 574.10 Td (ater Systems sales in the Middle East and ) Tj ET Q q 0 0 0 rg BT 226.39 574.10 Td (Africa were about 1) Tj ET Q q 0 0 0 rg BT 305.70 574.10 Td (1 percent of consolidated sales and decreased by about 10 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (percent compared to 2014. ) Tj ET Q q 0 0 0 rg BT 158.95 562.10 Td (W) Tj ET Q q 0 0 0 rg BT 167.58 562.10 Td (ater Systems sales in the Middle East and ) Tj ET Q q 0 0 0 rg BT 335.33 562.10 Td (Africa were reduced by $16.5 million or about 14 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (percent in the year due to foreign currency translation. Excluding the impact of foreign currency translation, sales were up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (about 4 percent compared to 2014. ) Tj ET Q q 0 0 0 rg BT 191.16 538.10 Td (The growth was driven by strong sales of groundwater pumping equipment in ) Tj ET Q q 0 0 0 rg BT 504.81 538.10 Td (T) Tj ET Q q 0 0 0 rg BT 510.57 538.10 Td (urkey) Tj ET Q q 0 0 0 rg BT 532.69 538.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 514.10 Td (ater Systems sales in the ) Tj ET Q q 0 0 0 rg BT 158.34 514.10 Td (Asia Pacific region were 8 percent of consolidated sales and grew by about 7 percent compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (the prior year) Tj ET Q q 0 0 0 rg BT 103.31 502.10 Td (. ) Tj ET Q q 0 0 0 rg BT 107.76 502.10 Td (Acquisition related sales during 2015 increased sales by about 9 percent in ) Tj ET Q q 0 0 0 rg BT 408.23 502.10 Td (Asia Pacific. Foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (translation rate changes decreased sales in 2015 in the ) Tj ET Q q 0 0 0 rg BT 267.98 490.10 Td (Asia Pacific region by about 5 percent. Excluding acquisitions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (foreign currency translation sales grew by about 3 percent during 2015. ) Tj ET Q q 0 0 0 rg BT 338.06 478.10 Td (The ) Tj ET Q q 0 0 0 rg BT 355.56 478.10 Td (Asia Pacific region experienced strong year over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (year growth in Southeast ) Tj ET Q q 0 0 0 rg BT 151.65 466.10 Td (Asia and Korea. ) Tj ET Q q 0 0 0 rg BT 218.67 466.10 Td (These sales increases were partially of) Tj ET Q q 0 0 0 rg BT 372.03 466.10 Td (fset by smaller declines in sales in ) Tj ET Q q 0 0 0 rg BT 510.61 466.10 Td (Australia, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Japan and China.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 430.10 Td (ater Systems sales in Europe were about 7 percent of consolidated sales and decreased by about 20 percent compared to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (prior year) Tj ET Q q 0 0 0 rg BT 88.59 418.10 Td (. Foreign currency translation rate changes decreased sales by about 21 percent compared to sales in 2014. Excluding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (foreign currency translation, European sales grew by about 1 percent during 2015.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Net Sales-Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Fueling Systems sales which represented 23 percent of consolidated sales were $217.3 million in 2015, a decrease of $5.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (million or about 3 percent versus 2014. ) Tj ET Q q 0 0 0 rg BT 209.23 358.10 Td (The incremental impact of sales from acquired businesses was $0.5 million. Foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (currency translation rate changes decreased sales $1) Tj ET Q q 0 0 0 rg BT 257.86 346.10 Td (1.0 million or about 5 percent compared to sales in 2014. ) Tj ET Q q 0 0 0 rg BT 488.46 346.10 Td (The sales change ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (in 2015, excluding acquisitions and foreign currency translation, was an increase of $4.6 million or about 2 percent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Fueling Systems sales in the U.S. and Canada grew by about 6 percent in 2015 compared to the prior year with sales growth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (coming from most product lines, especially in piping. Fueling Systems revenues declined in India and China due to the timing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (of tender awards made in India and the ongoing reduction in State owned oil company procurements in China. Sales also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (declined in Europe principally due to a 42 percent decline in the sale of storage tanks that support North Sea oil production.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (Cost of Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (Cost of sales as a percent of net sales for 2015 and 2014 was 67.8 percent and 67.1 percent, respectively) Tj ET Q q 0 0 0 rg BT 465.88 238.10 Td (. Correspondingly) Tj ET Q q 0 0 0 rg BT 537.45 238.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (gross profit mar) Tj ET Q q 0 0 0 rg BT 113.70 226.10 Td (gin decreased to 32.2 percent from 32.9 percent, a 70 basis point decline. ) Tj ET Q q 0 0 0 rg BT 408.14 226.10 Td (The gross profit mar) Tj ET Q q 0 0 0 rg BT 489.88 226.10 Td (gin decrease was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (primarily due to fixed costs deleverage on lower sales and higher raw material costs. Direct materials as a percentage of sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (was 46.9 percent up 50 basis points compared to 46.4 percent last year) Tj ET Q q 0 0 0 rg BT 331.59 202.10 Td (. ) Tj ET Q q 0 0 0 rg BT 338.91 202.10 Td (This increase in direct materials was partially of) Tj ET Q q 0 0 0 rg BT 531.16 202.10 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (lower labor and burden costs.) Tj ET Q q 0 0 0 rg BT 172.84 190.10 Td (The Company's consolidated gross profit was $297.6 million for 2015, down $46.8 million or 14 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (percent from 2014.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (Selling, General and ) Tj ET Q q 0 0 0 rg BT 137.42 154.10 Td (Administrative \(SG&A\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Selling, general, and administrative \(SG&A\) expenses were $204.3 million in 2015 and decreased by $23.4 million or about 10 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (percent in 2015 compared to last year) Tj ET Q q 0 0 0 rg BT 199.95 130.10 Td (. In 2015, increases in SG&A) Tj ET Q q 0 0 0 rg BT 317.43 130.10 Td ( attributable to acquisitions were about $6 million or about 3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (percent. ) Tj ET Q q 0 0 0 rg BT 83.87 118.10 Td (Additional year over year changes in SG&A) Tj ET Q q 0 0 0 rg BT 261.04 118.10 Td ( costs were decreases in the year primarily due to lower marketing and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (selling related expenses, as well as lower costs for incentive compensation. ) Tj ET Q q 0 0 0 rg BT 352.41 106.10 Td (Approximately half of the lower SG&A) Tj ET Q q 0 0 0 rg BT 511.55 106.10 Td ( expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (was related to foreign exchange.) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Restructuring Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (Restructuring expenses for 2015 were $3.0 million and reduced diluted earnings per share by approximately $0.04. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Restructuring expenses in 2015 included severance and pension costs, equipment relocation expenses, asset write-downs and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (primarily related to the closure of the ) Tj ET Q q 0 0 0 rg BT 201.15 706.25 Td (W) Tj ET Q q 0 0 0 rg BT 210.19 706.25 Td (ittlich, Germany facility and other manufacturing realignment activities in Europe and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Brazil. ) Tj ET Q q 0 0 0 rg BT 79.25 694.25 Td (There were $16.6 million of restructuring expenses in 2014 and reduced diluted earnings per share by approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td ($0.24. Restructuring expenses in 2014 included severance costs, equipment relocation expenses, and asset write-downs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (primarily related to the closure of the ) Tj ET Q q 0 0 0 rg BT 201.15 670.25 Td (W) Tj ET Q q 0 0 0 rg BT 210.19 670.25 Td (ittlich, Germany facility and other European manufacturing realignment activities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (Operating Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (Operating income was $90.4 million in 2015, down $9.7 million from $100.1 million in 2014.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 581.75 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 581.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 581.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 581.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 581.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 581.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 581.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 551.75 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 551.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 551.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 551.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 551.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 551.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 551.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 611.75 m 423.5 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 596.75 m 423.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 611.75 m 427.5 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 596.75 m 427.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 611.75 m 492.5 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 596.75 m 492.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 611.75 m 496.5 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 596.75 m 496.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 611.75 m 561.5 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 596.75 m 561.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 596.75 m 423.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 581.75 m 423.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 596.75 m 492.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 581.75 m 492.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 581.75 m 561.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 581.75 m 423.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 536.75 m 423.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 536.75 m 492.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 536.75 m 561.5 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 522.75 m 423.5 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 520.75 m 423.5 520.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 522.75 m 492.5 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 520.75 m 492.5 520.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 522.75 m 561.5 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 520.75 m 561.5 520.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 601.42 Td (Operating income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 586.42 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 586.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 586.42 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.50 586.42 Td (2015 v 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 571.42 Td (Water Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 571.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 571.42 Td (86.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 571.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 571.42 Td (103.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 571.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 571.47 Td (\(17.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 571.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 556.42 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 556.42 Td (51.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 556.42 Td (49.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 556.42 Td (1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 541.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 541.47 Td (\(47.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 541.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 541.47 Td (\(53.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 541.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 541.42 Td (5.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 526.42 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 526.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 526.42 Td (90.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 526.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 526.42 Td (100.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 526.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 526.47 Td (\(9.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 526.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.25 Td (There were specific items in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.78 498.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.78 498.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.22 498.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.22 498.25 Td ( that impacted operating income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.25 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 474.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 474.25 Td ( they were as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 462.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 462.25 Td (There were $3.0 million of restructuring char) Tj ET Q q 0 0 0 rg BT 266.59 462.25 Td (ges. Restructuring expenses in 2015 were $0.6 million in severance cost, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 450.25 Td ($0.6 million in pension cost, $0.6 million expenses related to equipment transfers and freight costs, $0.1 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 438.25 Td (asset write-of) Tj ET Q q 0 0 0 rg BT 139.96 438.25 Td (fs and $1.1 million in other relocation costs primarily related to the closure of the ) Tj ET Q q 0 0 0 rg BT 467.47 438.25 Td (W) Tj ET Q q 0 0 0 rg BT 476.51 438.25 Td (ittlich, Germany ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 426.25 Td (facility and other manufacturing realignment activities in Europe and Brazil.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 402.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 402.25 Td ($1.2 million related to executive transition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 378.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 378.25 Td ($0.7 million related to business realignment cost, primarily severance, in tar) Tj ET Q q 0 0 0 rg BT 389.90 378.25 Td (geted fixed cost reduction actions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 354.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 354.25 Td ($0.2 million in other miscellaneous costs related to closed acquisitions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.25 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 330.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 330.25 Td ( they were as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 318.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 318.25 Td (There were $16.6 million of restructuring char) Tj ET Q q 0 0 0 rg BT 271.59 318.25 Td (ges. Restructuring expenses in 2014 were $14.7 million in severance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 306.25 Td (cost, $1.7 million expenses related to equipment transfers, freight and other relocation costs and $0.2 million in asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 294.25 Td (write-of) Tj ET Q q 0 0 0 rg BT 118.03 294.25 Td (fs primarily related to the transfer of production activities from Germany to the Czech Republic and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 282.25 Td (continued manufacturing realignments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 258.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 258.25 Td ($3.2 million in other miscellaneous costs related to closed and pending acquisitions and $0.2 million in legal fees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 246.25 Td (incurred by Franklin Fueling Systems.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 222.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 222.25 Td ($2.5 million related to executive transition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 198.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 198.25 Td ($1.8 million of software write-of) Tj ET Q q 0 0 0 rg BT 217.18 198.25 Td (fs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.25 Td (The Company refers to these items as non-GAAP) Tj ET Q q 0 0 0 rg BT 252.64 174.25 Td ( adjustments for purposes of presenting the non-GAAP) Tj ET Q q 0 0 0 rg BT 476.95 174.25 Td ( financial measures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.25 Td (of operating income after non-GAAP) Tj ET Q q 0 0 0 rg BT 199.03 162.25 Td ( adjustments and percent operating income to net sales after non-GAAP) Tj ET Q q 0 0 0 rg BT 485.80 162.25 Td ( adjustments to net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.25 Td (sales \(operating income mar) Tj ET Q q 0 0 0 rg BT 162.83 150.25 Td (gin after non-GAAP) Tj ET Q q 0 0 0 rg BT 244.11 150.25 Td ( adjustments\).) Tj ET Q q 0 0 0 rg BT 305.03 150.25 Td (The Company believes this information helps investors and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.25 Td (management understand underlying trends in the Company's business more easily and by presenting these matters in this way) Tj ET Q q 0 0 0 rg BT 551.88 138.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.25 Td (gives our investors and management a more accurate picture of the actual operational performance of the Company) Tj ET Q q 0 0 0 rg BT 510.83 126.25 Td (. ) Tj ET Q q 0 0 0 rg BT 515.65 126.25 Td (The non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 76.86 114.25 Td ( adjustments are for restructuring expenses, reported separately on the income statement, as well as certain legal matters ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.25 Td (and acquisition related items which are included in SG&A) Tj ET Q q 0 0 0 rg BT 283.28 102.25 Td ( on the income statement.) Tj ET Q q 0 0 0 rg BT 390.57 102.25 Td (The dif) Tj ET Q q 0 0 0 rg BT 419.54 102.25 Td (ferences between these non-GAAP) Tj ET Q q 0 0 0 rg BT 559.39 102.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.25 Td (financial measures and the most comparable GAAP) Tj ET Q q 0 0 0 rg BT 256.79 90.25 Td ( measures are reconciled in the following tables:) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 689.50 252.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 689.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 689.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 689.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 689.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 663.50 252.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 663.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 663.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 663.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 663.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 637.50 252.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 637.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 637.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 637.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 637.50 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 611.50 252.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 611.50 65.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 611.50 65.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 611.50 65.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 611.50 65.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 499.50 252.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 499.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 499.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 499.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 499.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 469.50 252.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 469.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 469.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 469.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 469.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 439.50 252.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 439.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 439.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 439.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 439.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 409.50 252.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 409.50 65.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 409.50 65.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 409.50 65.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 409.50 65.00 -32.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 702.5 m 366.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 702.5 m 431.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 702.5 m 496.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 702.5 m 561.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 611.5 m 366.5 611.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 611.5 m 431.5 611.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 611.5 m 496.5 611.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 611.5 m 561.5 611.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 529.5 m 366.5 529.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 529.5 m 431.5 529.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 529.5 m 496.5 529.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 529.5 m 561.5 529.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 424.5 m 366.5 424.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 424.5 m 431.5 424.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 424.5 m 496.5 424.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 424.5 m 561.5 424.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 738.17 Td (Operating Income and Margins) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 723.17 Td (Before and After Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 707.17 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.40 707.17 Td (For the Full Year of 2015) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 321.65 691.7333984375 m 345.273046875 691.7333984375 l s q 0 0 0 rg BT 321.65 693.07 Td (Water) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 383.2 691.7333984375 m 413.756640625 691.7333984375 l s q 0 0 0 rg BT 383.20 693.07 Td (Fueling) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 452.1 691.7333984375 m 474.8685546875 691.7333984375 l s q 0 0 0 rg BT 452.10 693.07 Td (Other) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 502.1 691.7333984375 m 554.8734375 691.7333984375 l s q 0 0 0 rg BT 502.10 693.07 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 680.07 Td (Reported Operating Income/\(Loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 680.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 680.07 Td (86.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 680.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 680.07 Td (51.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 680.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 680.12 Td (\(47.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 680.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 680.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 680.07 Td (90.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 667.07 Td (% Operating Income To Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 667.07 Td (12.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 667.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 667.07 Td (23.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 667.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 667.07 Td (9.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 667.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 641.07 Td (Non-GAAP Adjustments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 628.07 Td (Restructuring) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 628.07 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 628.07 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 628.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 628.07 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 615.07 Td (Non-GAAP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 615.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 615.07 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 615.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 615.07 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 615.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 615.07 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 615.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 615.07 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 599.17 Td (Operating Income after Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 599.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 599.17 Td (90.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 599.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 599.17 Td (52.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 599.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 599.22 Td (\(46.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 599.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 599.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 599.17 Td (95.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 584.17 Td (% Operating Income to Net Sales after Non-GAAP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 574.17 Td (Adjustments \(Operating Income Margin after Non-GAAP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 564.17 Td (Adjustments\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 564.17 Td (12.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 564.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 564.17 Td (23.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 564.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 564.17 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 564.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.40 534.17 Td (For the Full Year of 2014) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 321.65 517.8333984375 m 345.273046875 517.8333984375 l s q 0 0 0 rg BT 321.65 519.17 Td (Water) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 383.2 517.8333984375 m 413.756640625 517.8333984375 l s q 0 0 0 rg BT 383.20 519.17 Td (Fueling) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 452.1 517.8333984375 m 474.8685546875 517.8333984375 l s q 0 0 0 rg BT 452.10 519.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 502.1 517.8333984375 m 554.8734375 517.8333984375 l s q 0 0 0 rg BT 502.10 519.17 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 504.17 Td (Reported Operating Income/\(Loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 504.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.15 504.17 Td (103.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 504.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 504.17 Td (49.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 504.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 504.22 Td (\(53.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 504.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 504.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 504.17 Td (100.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 489.17 Td (% Operating Income To Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 489.17 Td (12.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 489.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 489.17 Td (22.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 489.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 489.17 Td (9.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 489.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 459.17 Td (Non-GAAP Adjustments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 444.17 Td (Restructuring) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 444.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 444.17 Td (16.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 444.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 444.17 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 444.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 444.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 444.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 444.17 Td (16.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 429.17 Td (Non-GAAP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 429.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 429.17 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 429.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 429.17 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 429.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 429.17 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 429.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 429.17 Td (7.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 414.17 Td (Operating Income after Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 414.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.15 414.17 Td (123.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 414.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 414.17 Td (51.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 414.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 414.22 Td (\(51.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 414.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 414.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 414.17 Td (124.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 400.07 Td (% Operating Income to Net Sales after Non-GAAP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 390.07 Td (Adjustments \(Operating Income Margin after Non-GAAP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 380.12 Td (Adjustments\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 382.17 Td (15.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 382.17 Td (23.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 382.17 Td (11.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 354.00 Td (Operating Income-W) Tj ET Q q 0 0 0 rg BT 136.76 354.00 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.00 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 342.00 Td (ater Systems operating income, after non-GAAP) Tj ET Q q 0 0 0 rg BT 252.66 342.00 Td ( adjustments, was $90.1 million in 2015, a decrease of 27 percent versus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.00 Td (2014. ) Tj ET Q q 0 0 0 rg BT 74.82 330.00 Td (The 2015 operating income mar) Tj ET Q q 0 0 0 rg BT 202.93 330.00 Td (gin after non-GAAP) Tj ET Q q 0 0 0 rg BT 284.21 330.00 Td ( adjustments was 12.7 percent and decreased by 230 basis points ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.00 Td (compared to the 15.0 percent of net sales in 2014. Operating income mar) Tj ET Q q 0 0 0 rg BT 341.39 318.00 Td (gin after non-GAAP) Tj ET Q q 0 0 0 rg BT 422.67 318.00 Td ( adjustments decreased in ) Tj ET Q q 0 0 0 rg BT 527.46 318.00 Td (W) Tj ET Q q 0 0 0 rg BT 536.09 318.00 Td (ater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.00 Td (Systems primarily due to loss of operating leverage.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 282.00 Td (Operating Income-Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.00 Td (Fueling Systems operating income after non-GAAP) Tj ET Q q 0 0 0 rg BT 257.09 270.00 Td ( adjustments was $52.0 million in 2015 compared to $51.7 million after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.00 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 95.19 258.00 Td ( adjustments in 2014. ) Tj ET Q q 0 0 0 rg BT 183.06 258.00 Td (The 2015 operating income mar) Tj ET Q q 0 0 0 rg BT 311.17 258.00 Td (gin after non-GAAP) Tj ET Q q 0 0 0 rg BT 392.45 258.00 Td ( adjustments was 23.9 percent and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.00 Td (increased by 70 basis points compared to the 23.2 percent of net sales in 2014. ) Tj ET Q q 0 0 0 rg BT 366.13 246.00 Td (This increased profitability was primarily due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.00 Td (lower fixed costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 222.00 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 210.00 Td (Operating Income-Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.00 Td (Operating income-other is composed primarily of unallocated general and administrative expenses.General and administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.00 Td (expenses after non-GAAP) Tj ET Q q 0 0 0 rg BT 154.60 186.00 Td ( adjustments were down about 9 percent compared to last year primarily due to lower incentive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.00 Td (compensation due to lower overall operating results.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 150.00 Td (Interest Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.00 Td (Interest expense for 2015 and 2014 was $10.0 million and $10.7 million, respectively) Tj ET Q q 0 0 0 rg BT 391.23 138.00 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 114.00 Td (Other Income or Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.00 Td (Other income or expense was a gain of $6.9 million in 2015. Included in other income or expense in 2015 was minority income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.00 Td (of $2.8 million and interest income of $1.3 million, primarily derived from the investment of cash balances in short-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.00 Td (securities. ) Tj ET Q q 0 0 0 rg BT 92.58 78.00 Td (The Company also realized a gain on the settlement of the redeemable non-controlling interest liability in the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.00 Td (quarter of this year of about $2.7 million. Other income or expense was a gain of $1.3 million in 2014 and included in other ) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (income or expense in 2014 was interest income of $2.0 million, primarily derived from the investment of cash balances in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (short-term securities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Foreign Exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Foreign currency-based transactions produced a loss for 2015 of $0.9 million, primarily due to the South ) Tj ET Q q 0 0 0 rg BT 470.47 694.10 Td (African rand, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Colombian Peso and ) Tj ET Q q 0 0 0 rg BT 134.72 682.10 Td (Australian dollar relative to the U.S. dollar) Tj ET Q q 0 0 0 rg BT 305.39 682.10 Td (, none of which individually were significant.Foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (currency-based transactions produced a loss for 2014 of $1.0 million, primarily due to the Canadian dollar) Tj ET Q q 0 0 0 rg BT 474.76 670.10 Td (, ) Tj ET Q q 0 0 0 rg BT 479.21 670.10 Td (Australian dollar) Tj ET Q q 0 0 0 rg BT 546.29 670.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 658.10 Td (urkish lira, and South ) Tj ET Q q 0 0 0 rg BT 143.81 658.10 Td (African rand relative to the U.S. dollar) Tj ET Q q 0 0 0 rg BT 297.80 658.10 Td (, none of which individually were significant.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 88.80 634.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (The provision for income taxes in 2015 and 2014 was $12.6 million and $18.9 million, respectively) Tj ET Q q 0 0 0 rg BT 447.62 622.10 Td (. ) Tj ET Q q 0 0 0 rg BT 452.44 622.10 Td (The tax rate for 2015 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (14.6 percent and 2014 was 21.0 percent. Discrete adjustments during 2015 were the reversal of a deferred tax liability created ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (in 2012 when the Company acquired the controlling interest in the Pioneer subsidiary and realized a gain on the then equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (investment in Pioneer) Tj ET Q q 0 0 0 rg BT 136.66 586.10 Td (. ) Tj ET Q q 0 0 0 rg BT 141.47 586.10 Td (This tax benefit of about $4.8 million was treated as a non-GAAP) Tj ET Q q 0 0 0 rg BT 404.38 586.10 Td ( adjustment. Because in 2012, the gain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (was treated as a non-GAAP) Tj ET Q q 0 0 0 rg BT 160.71 574.10 Td ( adjustment, the Company is now consistently treating the reversal of the tax liability related to that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (gain as a non-GAAP) Tj ET Q q 0 0 0 rg BT 132.67 562.10 Td ( adjustment and reducing reported Earnings per Share in 2015 by $0.10 cents. ) Tj ET Q q 0 0 0 rg BT 446.02 562.10 Td (The Company also realized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (a gain on the redeemable non-controlling interest liability in the year of about $2.7 million which is included in Other income. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (This purchase transaction also resulted in other tax benefits of about $2.5 million, which were expensed through the Company) Tj ET Q q 0 0 0 rg BT 557.65 538.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (earnings in prior years as well as a benefit of about $1.0 million related to the 2015 gain. ) Tj ET Q q 0 0 0 rg BT 406.94 526.10 Td (The tax rate before discrete ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (adjustments for 2015 was about 27 percent and 2014 was about 26 percent. ) Tj ET Q q 0 0 0 rg BT 353.08 514.10 Td (The tax rate is lower than the statutory rate of 35 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (percent primarily due to the indefinite reinvestment of foreign earnings and reduced taxes on foreign and repatriated earnings. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (The Company has the ability to indefinitely reinvest these foreign earnings based on the earnings and cash projections of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (other operations, current cash on hand and available credit.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Net income for 2015 was $73.7 million compared to 2014 net income of $70.9 million.Net income attributable to Franklin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Electric Co., Inc. for 2015 was $72.9 million, or $1.50 per diluted share, compared to 2014 net income attributable to Franklin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (Electric Co., Inc. of $69.8 million or $1.41 per diluted share. Net income attributable to Franklin Electric Co., Inc. after Non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 76.86 406.10 Td ( adjustments for 2015 was $69.7 million, or $1.47 per diluted share, compared to 2014 net income attributable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (Franklin Electric Co., Inc. after Non-GAAP) Tj ET Q q 0 0 0 rg BT 225.14 394.10 Td ( adjustments of $84.3 million or $1.76 per diluted share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (There were specific items in 2015 and 2014 that impacted net income attributable to Franklin Electric Co., Inc. ) Tj ET Q q 0 0 0 rg BT 496.06 370.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (refers to these items as non-GAAP) Tj ET Q q 0 0 0 rg BT 193.20 358.10 Td ( adjustments for purposes of presenting the non-GAAP) Tj ET Q q 0 0 0 rg BT 417.51 358.10 Td ( financial measures of net income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (attributable to Franklin Electric Co., Inc. and adjusted EPS.) Tj ET Q q 0 0 0 rg BT 292.54 346.10 Td (The Company believes this information helps investors understand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (underlying trends in the Company's business more easily) Tj ET Q q 0 0 0 rg BT 276.95 334.10 Td (.) Tj ET Q q 0 0 0 rg BT 284.27 334.10 Td (The dif) Tj ET Q q 0 0 0 rg BT 313.25 334.10 Td (ferences between these non-GAAP) Tj ET Q q 0 0 0 rg BT 453.10 334.10 Td ( financial measures and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (most comparable GAAP) Tj ET Q q 0 0 0 rg BT 147.94 322.10 Td ( measures are reconciled in the following tables:) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 707.50 263.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 707.50 79.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 707.50 5.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 707.50 79.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 707.50 5.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 707.50 81.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 666.50 263.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 666.50 79.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 666.50 5.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 666.50 79.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 666.50 5.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 666.50 81.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 630.50 263.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 630.50 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 630.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 630.50 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 630.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 630.50 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 600.50 263.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 600.50 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 600.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 600.50 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 600.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 600.50 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 570.50 263.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 570.50 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 570.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 570.50 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 570.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 570.50 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 540.50 263.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.50 540.50 79.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 540.50 5.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 540.50 79.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 540.50 5.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 540.50 81.00 -34.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 727.5 m 391.5 727.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 727.5 m 396.5 727.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 727.5 m 475.5 727.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 727.5 m 480.5 727.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 727.5 m 561.5 727.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 727.5 m 391.5 727.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 727.5 m 396.5 727.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 727.5 m 475.5 727.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312.5 666.5 m 391.5 666.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 666.5 m 396.5 666.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 666.5 m 475.5 666.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 732.17 Td (Earnings Before and After Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.60 732.17 Td (For the Full Year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 712.17 Td (\(in millions\)) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 341.5 710.8333984375 m 361.5 710.8333984375 l s q 0 0 0 rg BT 341.50 712.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 425.5 710.8333984375 m 445.5 710.8333984375 l s q 0 0 0 rg BT 425.50 712.17 Td (2014) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 505.2 710.8333984375 m 535.746875 710.8333984375 l s q 0 0 0 rg BT 505.20 712.17 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 689.17 Td (Net Income attributable to Franklin Electric Co., Inc. Reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 689.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 689.17 Td (72.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 689.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 689.17 Td (69.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 689.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 689.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 671.17 Td (Allocated Undistributed Earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 671.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.80 671.22 Td (\(1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 671.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 671.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.80 671.22 Td (\(1.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 671.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 653.17 Td (Earnings for EPS Calculations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 653.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 653.17 Td (71.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 653.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 653.17 Td (68.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 653.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 653.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52 633.8333984375 m 201.873046875 633.8333984375 l s q 0 0 0 rg BT 52.00 635.17 Td (Non-GAAP adjustments \(before tax\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 620.17 Td (Restructuring) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 620.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.15 620.17 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 620.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 620.17 Td (16.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 605.17 Td (Non-GAAP items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 605.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.15 605.17 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 605.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 605.17 Td (7.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 590.17 Td (Pioneer tax benefits on equity gain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 590.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.80 590.22 Td (\(4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 590.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 590.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 590.17 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52 573.8333984375 m 195.22265625 573.8333984375 l s q 0 0 0 rg BT 52.00 575.17 Td (Non-GAAP adjustments, net of tax:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 560.17 Td (Restructuring) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 560.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.15 560.17 Td (1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 560.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 560.17 Td (11.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 545.17 Td (Non-GAAP items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 545.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.15 545.17 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 545.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 545.17 Td (4.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 511.17 Td (Pioneer tax benefits on equity gain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 511.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.80 511.22 Td (\(4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 511.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 511.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 511.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 477.17 Td (Earnings after Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.00 477.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 477.17 Td (69.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 477.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 477.17 Td (84.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.95 477.17 Td (\(17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 477.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 416.50 265.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 416.50 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.50 416.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 416.50 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 416.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 416.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 386.50 265.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 386.50 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.50 386.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 386.50 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 386.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 386.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 356.50 265.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 356.50 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.50 356.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 356.50 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 356.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 356.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 326.50 265.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 326.50 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.50 326.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 326.50 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 326.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 326.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 296.50 265.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 296.50 79.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.50 296.50 5.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 296.50 78.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 296.50 5.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 296.50 80.00 -22.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 431.5 m 393.5 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 431.5 m 398.5 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 431.5 m 476.5 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 431.5 m 481.5 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 431.5 m 561.5 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 431.5 m 393.5 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 431.5 m 476.5 431.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 436.17 Td (Earnings Per Share Before and After Non-GAAP Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.60 436.17 Td (For the Full Year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 421.17 Td (\(in millions except per-share data\)) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 343.5 419.8333984375 m 363.5 419.8333984375 l s q 0 0 0 rg BT 343.50 421.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 427 419.8333984375 m 447 419.8333984375 l s q 0 0 0 rg BT 427.00 421.17 Td (2014) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 505.7 419.8333984375 m 536.246875 419.8333984375 l s q 0 0 0 rg BT 505.70 421.17 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 406.17 Td (Average Fully Diluted Shares Outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 406.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 406.17 Td (47.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 406.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 406.17 Td (48.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.95 406.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 406.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 376.17 Td (Fully Diluted Earnings Per Share \("EPS"\) Reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 376.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 376.17 Td (1.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 376.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 376.17 Td (1.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 376.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 376.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 346.17 Td (Restructuring Per Share, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 346.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 346.17 Td (0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 346.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 346.17 Td (0.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 331.17 Td (Non-GAAP items, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 331.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 331.17 Td (0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 331.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 331.17 Td (0.11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 316.17 Td (Pioneer tax benefits on equity gain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 316.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.80 316.22 Td (\(0.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 316.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 316.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 316.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 287.07 Td (Fully Diluted EPS after Non-GAAP Adjustments \(Adjusted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 277.12 Td (EPS\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 279.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 279.17 Td (1.47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 279.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 279.17 Td (1.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.95 279.17 Td (\(16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 279.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.00 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 78.09 239.00 Td (AL) Tj ET Q q 0 0 0 rg BT 91.05 239.00 Td ( RESOURCES ) Tj ET Q q 0 0 0 rg BT 153.29 239.00 Td (AND LIQUIDITY) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 215.00 Td (Sources of Liquidity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 203.00 Td (The Company's primary sources of liquidity are cash on hand, cash flows from operations, revolving credit agreements, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.00 Td (long-term debt funds available. ) Tj ET Q q 0 0 0 rg BT 179.78 191.00 Td (The Company believes its capital resources and liquidity position at December 31, 2016 is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.00 Td (adequate to meet projected needs. ) Tj ET Q q 0 0 0 rg BT 190.03 179.00 Td (The Company expects that ongoing requirements for operations, capital expenditures, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.00 Td (pension obligations, dividends, and debt service will be adequately funded from cash on hand, operations, and existing credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.00 Td (agreements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.00 Td (As of December 31, 2016, the Company had a $300.0 million revolving credit facility) Tj ET Q q 0 0 0 rg BT 393.16 131.00 Td (. ) Tj ET Q q 0 0 0 rg BT 400.48 131.00 Td (The facility is scheduled to mature on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.00 Td (October 28, 2021. ) Tj ET Q q 0 0 0 rg BT 126.66 119.00 Td (As of December 31, 2016, the Company had $294.1 million borrowing capacity under the Credit ) Tj ET Q q 0 0 0 rg BT 516.02 119.00 Td (Agreement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.00 Td (as $5.9 million in letters of commercial and standby letters of credit were outstanding and undrawn and no revolver borrowing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.00 Td (was drawn and outstanding as of the end of the quarter) Tj ET Q q 0 0 0 rg BT 268.27 95.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.00 Td (The Company also has other long-term debt borrowings outstanding as of December 31, 2016. See Footnote 1) Tj ET Q q 0 0 0 rg BT 493.15 71.00 Td (1 for additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.00 Td (specifics regarding these obligations and future maturities.) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (At December 31, 2016, the Company had $74.5 million of cash and cash equivalents held in foreign jurisdictions, which will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (be used to fund foreign operations. ) Tj ET Q q 0 0 0 rg BT 194.23 730.10 Td (There is currently no need to repatriate these funds in order to meet domestic funding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (obligations or scheduled cash distributions. If the Company chose to repatriate historical earnings held in foreign jurisdictions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (the intention to do so would only be in a tax-ef) Tj ET Q q 0 0 0 rg BT 237.01 706.10 Td (ficient manner) Tj ET Q q 0 0 0 rg BT 294.48 706.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Cash Flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (The following table summarizes significant sources and uses of cash and cash equivalents: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 632.60 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 632.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 632.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 632.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 632.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 632.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 602.60 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 602.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 602.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 602.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 602.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 602.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 572.60 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 572.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 572.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 572.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 572.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 572.60 80.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 632.6 m 391.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 632.6 m 476.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 632.6 m 561.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 572.6 m 391.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 558.6 m 391.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 556.6 m 391.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 572.6 m 476.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 558.6 m 476.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 556.6 m 476.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 572.6 m 561.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 558.6 m 561.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 556.6 m 561.5 556.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 637.27 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 637.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.00 637.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.00 637.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 622.27 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 622.27 Td (115.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 622.27 Td (99.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 622.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 622.27 Td (47.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 607.27 Td (Net cash used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.80 607.32 Td (\(33.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 607.32 Td (\(29.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 607.32 Td (\(77.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 592.27 Td (Net cash used in financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.80 592.32 Td (\(51.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 592.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 592.32 Td (\(41.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 592.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 592.32 Td (\(44.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 592.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 577.27 Td (Impact of exchange rates on cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.80 577.32 Td (\(7.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.80 577.32 Td (\(6.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 577.32 Td (\(0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 562.27 Td (Change in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 562.27 Td (22.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 562.27 Td (22.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 562.32 Td (\(75.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 562.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 534.10 Td (Cash Flows Provided by Operating ) Tj ET Q q 0 0 0 rg BT 196.03 534.10 Td (Activities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 522.10 Td (2016 vs. 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 510.10 Td (Net cash provided by operating activities was $1) Tj ET Q q 0 0 0 rg BT 244.30 510.10 Td (15.4 million for 2016 compared to $99.6 million for 2015. ) Tj ET Q q 0 0 0 rg BT 482.05 510.10 Td (An increase in cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.10 Td (provided by operations in 2016 was partially attributable to lar) Tj ET Q q 0 0 0 rg BT 300.03 498.10 Td (ge cash outflows in 2015 related to restructuring costs previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.10 Td (accrued at year) Tj ET Q q 0 0 0 rg BT 110.31 486.10 Td (-end 2014. ) Tj ET Q q 0 0 0 rg BT 157.90 486.10 Td (The increase in cash provided was partially of) Tj ET Q q 0 0 0 rg BT 341.81 486.10 Td (fset by increased cash used during 2016 for higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.10 Td (receivables and inventory balances compared to year) Tj ET Q q 0 0 0 rg BT 261.37 474.10 Td (-end 2015, driven by higher sales volumes in 2016. Finally) Tj ET Q q 0 0 0 rg BT 499.02 474.10 Td (, during 2015 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.10 Td (the mandatory share purchase liability of $22.9 million for Pioneer was settled, resulting in a non-cash gain and reversal of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.10 Td (certain deferred tax liabilities, also non-cash, both of which were adjustments to net income. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 426.10 Td (2015 vs. 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.10 Td (Net cash provided by operating activities was $99.6 million for 2015 compared to $47.3 million for 2014. ) Tj ET Q q 0 0 0 rg BT 475.29 414.10 Td (The increase in cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.10 Td (provided from operations in 2015 compared to 2014 was primarily due to lower uses of cash for trade receivables and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 Td (inventory in conjunction with reduced sales in 2015. ) Tj ET Q q 0 0 0 rg BT 262.28 390.10 Td (This increase in cash provided from operations was partially of) Tj ET Q q 0 0 0 rg BT 514.52 390.10 Td (fset by a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.10 Td (reduction in outstanding accounts payable balances at year) Tj ET Q q 0 0 0 rg BT 284.43 378.10 Td (-end 2015 compared to 2014. ) Tj ET Q q 0 0 0 rg BT 404.22 378.10 Td (This reduction was also primarily due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.10 Td (to lower year) Tj ET Q q 0 0 0 rg BT 102.55 366.10 Td (-end inventory levels. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (Cash Flows Used in Investing ) Tj ET Q q 0 0 0 rg BT 175.49 342.10 Td (Activities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (2016 vs. 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (Net cash used in investing activities was $33.8 million in 2016 compared to $29.6 million in 2015. During 2016, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (had increased capital expenditures compared to 2015, primarily attributable to the purchase of a building in the first quarter) Tj ET Q q 0 0 0 rg BT 542.89 306.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.10 Td (Cash expended on this purchase was partially of) Tj ET Q q 0 0 0 rg BT 242.82 294.10 Td (fset with proceeds realized from the sale of an idle building in Brazil which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (completed during the third quarter of 2016.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 258.10 Td (2015 vs. 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.10 Td (Net cash used in investing activities was $29.6 million in 2015 compared to $77.7 million in 2014. During 2015, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.10 Td (used less cash for acquisitions and equity investment purchases compared to 2014. In addition, cash used for capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.10 Td (expenditures during 2015 was less than the previous year as 2014 saw the completion of a new manufacturing facility in Brazil. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.10 Td (During 2014, the Company completed the acquisitions of Bombas Leao S.A. \(Bombas Leao\), with cash on hand and short-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.10 Td (term borrowings repaid within the year) Tj ET Q q 0 0 0 rg BT 205.94 198.10 Td (, and two entities in India, with cash on hand. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 174.10 Td (Cash Flows Used in Financing ) Tj ET Q q 0 0 0 rg BT 180.50 174.10 Td (Activities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 162.10 Td (2016 vs. 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.10 Td (Net cash flows from financing activities were uses of cash of $51.7 million in 2016 compared to $41.1 million in 2015. During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.10 Td (2016, the Company had net repayments of debt of about $30.4 million compared to net borrowings during 2015 of about $43.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.10 Td (million, resulting in a greater use of cash. ) Tj ET Q q 0 0 0 rg BT 220.61 126.10 Td (The Company paid dividends of $19.1 million in 2016, which was up slightly from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.10 Td ($18.9 million in 2015. In addition, in 2015 the Company made a payment of $20.2 million for the Pioneer mandatory share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.10 Td (purchase liability and repurchased a significant amount of the Company's common stock, which were both lar) Tj ET Q q 0 0 0 rg BT 489.28 102.10 Td (ge uses of cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.10 Td (that did not repeat in 2016.) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (2015 vs. 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (Net cash flows from financing activities were uses of cash of $41.1 million in 2015 compared to $44.3 million in 2014. During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (2015, the Company made a payment of $20.2 million for the Pioneer mandatory share purchase liability) Tj ET Q q 0 0 0 rg BT 465.63 718.25 Td (. In addition, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (Company used cash of $46.3 million to complete the repurchase of about 1.6 million shares of the Company) Tj ET Q q 0 0 0 rg BT 486.30 706.25 Td (s common stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (pursuant to the Company) Tj ET Q q 0 0 0 rg BT 153.60 694.25 Td (s stock repurchase program. Dividends in the amount of $18.9 million were paid to shareholders. ) Tj ET Q q 0 0 0 rg BT 543.88 694.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Company also had increased debt borrowings and repayments during 2015 primarily due to the issuance of $75.0 million of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (debt under the New ) Tj ET Q q 0 0 0 rg BT 130.71 670.25 Td (Y) Tj ET Q q 0 0 0 rg BT 136.93 670.25 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 171.37 670.25 Td (Agreement, first scheduled Prudential ) Tj ET Q q 0 0 0 rg BT 324.94 670.25 Td (Agreement payment of $30.0 million, and increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (Revolver borrowing and repayments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 626.25 Td (AGGREGA) Tj ET Q q 0 0 0 rg BT 97.78 626.25 Td (TE CONTRACTUAL) Tj ET Q q 0 0 0 rg BT 186.57 626.25 Td ( OBLIGA) Tj ET Q q 0 0 0 rg BT 225.73 626.25 Td (TIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 614.25 Td (The majority of the Company) Tj ET Q q 0 0 0 rg BT 171.64 614.25 Td (s contractual obligations to third parties relate to debt obligations. In addition, the Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.25 Td (certain contractual obligations for future lease payments and purchase obligations. ) Tj ET Q q 0 0 0 rg BT 384.15 602.25 Td (The payment schedule for these contractual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 590.25 Td (obligations is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 539.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 539.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 539.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 539.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 539.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 539.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 539.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 539.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 539.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 539.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 511.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 511.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 511.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 511.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 511.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 511.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 483.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 483.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 483.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 483.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 483.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 483.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 483.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 483.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 483.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 483.75 55.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 539.75 m 325.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 539.75 m 384.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 539.75 m 443.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 539.75 m 502.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 539.75 m 561.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 539.75 m 325.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 539.75 m 329.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 539.75 m 384.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 539.75 m 388.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 539.75 m 443.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 539.75 m 447.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 539.75 m 502.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 539.75 m 506.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 539.75 m 561.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 469.75 m 325.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 469.75 m 384.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 469.75 m 443.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 469.75 m 502.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 469.75 m 561.5 469.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 558.32 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 558.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 558.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 558.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.80 558.32 Td (More than) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 544.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.25 544.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.50 544.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 544.32 Td (2018-2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 544.32 Td (2020-2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.20 544.32 Td (5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 530.32 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 530.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.15 530.32 Td (190.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 530.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 530.32 Td (33.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 530.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 530.32 Td (62.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 530.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 530.32 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 530.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 530.32 Td (91.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 516.32 Td (Debt interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 516.32 Td (29.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 516.32 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 516.32 Td (8.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 516.32 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 516.32 Td (9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 502.32 Td (Capital leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 502.32 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 502.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 502.32 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 502.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 502.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 488.32 Td (Operating leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 488.32 Td (21.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 488.32 Td (7.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 488.32 Td (9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 488.32 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 488.32 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 474.32 Td (Purchase obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 474.32 Td (10.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 474.32 Td (10.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 474.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 474.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 474.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 460.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 460.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.15 460.32 Td (252.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 460.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 460.32 Td (59.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 460.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 460.32 Td (79.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 460.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 460.32 Td (11.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 460.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 460.32 Td (101.7) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.25 Td (The Company has pension and other post-retirement benefit obligations not included in the table above which will result in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.25 Td (estimated future payments of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.11 420.25 Td ($6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.50 420.25 Td ( in 2017.) Tj ET Q q 0 0 0 rg BT 310.60 420.25 Td (The Company also has unrecognized tax benefits, none of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.25 Td (which are included in the table above.) Tj ET Q q 0 0 0 rg BT 206.70 408.25 Td (The unrecognized tax benefits of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.07 408.25 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.97 408.25 Td ( have been recorded as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.25 Td (liabilities and the Company is uncertain as to if or when such amounts may be settled. Related to the unrecognized tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.25 Td (benefits,the Company has also recorded a liability for potential penalties and interest of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.61 384.25 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.51 384.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.25 Td (ACCOUNTING PRONOUNCEMENTS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 336.25 Td (Accounting Standards Issued But Not ) Tj ET Q q 0 0 0 rg BT 208.48 336.25 Td (Y) Tj ET Q q 0 0 0 rg BT 213.48 336.25 Td (et ) Tj ET Q q 0 0 0 rg BT 222.82 336.25 Td (Adopted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.25 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 143.96 324.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.87 324.25 Td (ASU 2016-02, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 253.70 324.25 Td (Leases \(T) Tj ET Q q 0 0 0 rg BT 291.40 324.25 Td (opic 842\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.44 324.25 Td (which supersedes existing guidance on accounting for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.25 Td (leases found in ) Tj ET Q q 0 0 0 rg BT 111.93 312.25 Td (Accounting Standards Codification \("ASC"\) ) Tj ET Q q 0 0 0 rg BT 292.11 312.25 Td (T) Tj ET Q q 0 0 0 rg BT 297.52 312.25 Td (opic 840. ) Tj ET Q q 0 0 0 rg BT 339.56 312.25 Td (This ) Tj ET Q q 0 0 0 rg BT 359.29 312.25 Td (ASU requires lessees to present right-of-use assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.25 Td (and lease liabilities on the balance sheet for all leases with terms longer than 12 months. ) Tj ET Q q 0 0 0 rg BT 407.50 300.25 Td (The guidance is to be applied using a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.25 Td (modified retrospective approach at the beginning of the earliest comparative period in the financial statements and is ef) Tj ET Q q 0 0 0 rg BT 526.59 288.25 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.25 Td (for interim and annual periods beginning after December 15, 2018 with early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 443.87 276.25 Td (The Company has begun the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.25 Td (evaluation process for the adoption of the ) Tj ET Q q 0 0 0 rg BT 218.01 264.25 Td (ASU, and anticipates that the majority of the Company) Tj ET Q q 0 0 0 rg BT 441.02 264.25 Td (s outstanding operating leases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.25 Td (would be recognized as right-of-use assets and lease liabilities upon adoption, resulting in a significant impact to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.25 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 240.25 Td (s Consolidated Balance Sheets.) Tj ET Q q 0 0 0 rg BT 218.96 240.25 Td (The impact of this ) Tj ET Q q 0 0 0 rg BT 293.95 240.25 Td (ASU is non-cash in nature and will not af) Tj ET Q q 0 0 0 rg BT 459.84 240.25 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 533.71 240.25 Td (s cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.25 Td (position. ) Tj ET Q q 0 0 0 rg BT 89.55 228.25 Td (The impact to the Company) Tj ET Q q 0 0 0 rg BT 203.96 228.25 Td (s results of operations is still being evaluated. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.25 Td (In May 2014, the F) Tj ET Q q 0 0 0 rg BT 126.20 204.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 175.10 204.25 Td (ASU 2014-09, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 235.93 204.25 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 278.59 204.25 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 408.25 204.25 Td (opic 606\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.29 204.25 Td (. ) Tj ET Q q 0 0 0 rg BT 453.24 204.25 Td (ASU 2014-09 outlines a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.25 Td (single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.25 Td (current revenue recognition guidance. In March 2016, the F) Tj ET Q q 0 0 0 rg BT 290.56 180.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 339.46 180.25 Td (ASU 2016-08, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 400.30 180.25 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 442.96 180.25 Td (om Contracts with ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 168.25 Td (Customers \(T) Tj ET Q q 0 0 0 rg BT 103.26 168.25 Td (opic 606\): Principal versus ) Tj ET Q q 0 0 0 rg BT 215.28 168.25 Td (Agent Considerations \(Reporting Revenue Gr) Tj ET Q q 0 0 0 rg BT 397.65 168.25 Td (oss versus Net\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.20 168.25 Td (. ) Tj ET Q q 0 0 0 rg BT 465.15 168.25 Td (ASU 2016-08 clarifies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.25 Td (the implementation guidance on principal versus agent considerations. In ) Tj ET Q q 0 0 0 rg BT 346.87 156.25 Td (April 2016, the F) Tj ET Q q 0 0 0 rg BT 415.01 156.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 463.91 156.25 Td (ASU 2016-10, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 524.75 156.25 Td (Revenue ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 144.25 Td (fr) Tj ET Q q 0 0 0 rg BT 56.30 144.25 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 185.95 144.25 Td (opic 606\): Identifying Performance Obligations and Licensing. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.97 144.25 Td (ASU 2016-10 clarifies the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.25 Td (implementation guidance on identifying performance obligations. ) Tj ET Q q 0 0 0 rg BT 317.52 132.25 Td (These ) Tj ET Q q 0 0 0 rg BT 343.35 132.25 Td (ASUs are ef) Tj ET Q q 0 0 0 rg BT 392.04 132.25 Td (fective for interim and annual reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.25 Td (periods beginning after December 15, 2017. Entities have the option of using either a full retrospective or a modified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.25 Td (retrospective approach to adopt these standards. ) Tj ET Q q 0 0 0 rg BT 246.42 108.25 Td (The Company will adopt ) Tj ET Q q 0 0 0 rg BT 348.07 108.25 Td (ASU 2014-09 beginning in the first quarter of 2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.25 Td (using the modified retrospective approach. ) Tj ET Q q 0 0 0 rg BT 225.60 96.25 Td (The Company does not expect the adoption of this ) Tj ET Q q 0 0 0 rg BT 429.17 96.25 Td (ASU to have a material impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.25 Td (on the Company) Tj ET Q q 0 0 0 rg BT 118.88 84.25 Td (s consolidated financial position, results of operations, or cash flows. ) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (CRITICAL) Tj ET Q q 0 0 0 rg BT 95.74 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 97.69 742.10 Td (ACCOUNTING ESTIMA) Tj ET Q q 0 0 0 rg BT 202.41 742.10 Td (TES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Management) Tj ET Q q 0 0 0 rg BT 104.98 730.10 Td (s discussion and analysis of its financial condition and results of operations are based upon the Company) Tj ET Q q 0 0 0 rg BT 527.12 730.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (United States of ) Tj ET Q q 0 0 0 rg BT 116.38 706.10 Td (America. ) Tj ET Q q 0 0 0 rg BT 155.63 706.10 Td (The preparation of these financial statements requires management to make estimates and judgments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (that af) Tj ET Q q 0 0 0 rg BT 75.08 694.10 Td (fect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosure of contingent assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (liabilities.Management evaluates its estimates on an ongoing basis.Estimates are based on historical experience and on other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. ) Tj ET Q q 0 0 0 rg BT 480.98 658.10 Td (Actual results may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 646.10 Td (fer from these estimates under dif) Tj ET Q q 0 0 0 rg BT 195.42 646.10 Td (ferent assumptions or conditions.) Tj ET Q q 0 0 0 rg BT 333.00 646.10 Td (There were no material changes to estimates or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (methodologies used to develop those estimates in 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 610.10 Td (s critical accounting estimates are identified below:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Inventory V) Tj ET Q q 0 0 0 rg BT 95.82 586.10 Td (aluation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (The Company uses certain estimates and judgments to value inventory) Tj ET Q q 0 0 0 rg BT 331.78 574.10 Td (. Inventory is recorded at the lower of cost or market. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (The Company reviews its inventories for excess or obsolete products or components. Based on an analysis of historical usage, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (management) Tj ET Q q 0 0 0 rg BT 103.87 550.10 Td (s evaluation of estimated future demand, market conditions, and alternative uses for possible excess or obsolete ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (parts, carrying values are adjusted.) Tj ET Q q 0 0 0 rg BT 193.65 538.10 Td (The carrying value is reduced regularly to reflect the age and current anticipated product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (demand. If actual demand dif) Tj ET Q q 0 0 0 rg BT 167.27 526.10 Td (fers from the estimates, additional reductions would be necessary in the period such determination ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (is made.Excess and obsolete inventory is periodically disposed of through sale to third parties, scrapping, or other means.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.01 490.10 Td (rade Names and Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (According to F) Tj ET Q q 0 0 0 rg BT 109.80 478.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 131.21 478.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 152.98 478.10 Td (T) Tj ET Q q 0 0 0 rg BT 158.39 478.10 Td (opic 350,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 198.11 478.10 Td (Intangibles - Goodwill and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.99 478.10 Td (, intangible assets with indefinite lives must be tested for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (impairment at least annually or more frequently as warranted by triggering events that indicate potential impairment.) Tj ET Q q 0 0 0 rg BT 521.88 466.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Company uses a variety of methodologies in conducting impairment assessments including income and market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (approaches.For indefinite-lived assets apart from goodwill, primarily trade names for the Company) Tj ET Q q 0 0 0 rg BT 451.18 442.10 Td (, if the fair value is less ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (than the carrying amount, an impairment char) Tj ET Q q 0 0 0 rg BT 232.81 430.10 Td (ge is recognized in an amount equal to that excess.) Tj ET Q q 0 0 0 rg BT 440.34 430.10 Td (The Company has not made ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (any material changes to the method of evaluating impairments during the last three years.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (In compliance with F) Tj ET Q q 0 0 0 rg BT 134.52 394.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 155.92 394.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 177.69 394.10 Td (T) Tj ET Q q 0 0 0 rg BT 183.10 394.10 Td (opic 350, goodwill is not amortized. Goodwill is tested at the reporting unit level for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (impairment annually or more frequently as warranted by triggering events that indicate potential impairment.Reporting units ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (are operating segments or one level below) Tj ET Q q 0 0 0 rg BT 218.18 370.10 Td (, known as components, which can be aggregated for testing purposes.) Tj ET Q q 0 0 0 rg BT 504.87 370.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 358.10 Td (s goodwill is allocated to the North ) Tj ET Q q 0 0 0 rg BT 234.15 358.10 Td (America ) Tj ET Q q 0 0 0 rg BT 270.89 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 279.53 358.10 Td (ater Systems, International ) Tj ET Q q 0 0 0 rg BT 388.76 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 397.40 358.10 Td (ater) Tj ET Q q 0 0 0 rg BT 411.98 358.10 Td (, and Fueling Systems units, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (components within the North ) Tj ET Q q 0 0 0 rg BT 168.88 346.10 Td (America ) Tj ET Q q 0 0 0 rg BT 205.62 346.10 Td (W) Tj ET Q q 0 0 0 rg BT 214.26 346.10 Td (ater Systems and International ) Tj ET Q q 0 0 0 rg BT 337.93 346.10 Td (W) Tj ET Q q 0 0 0 rg BT 346.57 346.10 Td (ater reporting units can be aggregated. ) Tj ET Q q 0 0 0 rg BT 504.28 346.10 Td (As the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 334.10 Td (s business model evolves, management will continue to evaluate its reporting units and review the aggregation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (criteria.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (In assessing the recoverability of goodwill, the Company determines the fair value of its reporting units by utilizing a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (combination of both the market value and income approaches. ) Tj ET Q q 0 0 0 rg BT 301.40 286.10 Td (The market value approach compares the reporting units' current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (and projected financial results to entities of similar size and industry to determine the market value of the reporting unit. ) Tj ET Q q 0 0 0 rg BT 532.73 274.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (income approach utilizes assumptions regarding estimated future cash flows and other factors to determine the fair value of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (respective assets. ) Tj ET Q q 0 0 0 rg BT 121.18 250.10 Td (These cash flows consider factors regarding expected future operating income and historical trends, as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (the ef) Tj ET Q q 0 0 0 rg BT 72.30 238.10 Td (fects of demand and competition. ) Tj ET Q q 0 0 0 rg BT 208.19 238.10 Td (The Company may be required to record an impairment if these assumptions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (estimates change whereby the fair value of the reporting units is below their associated carrying values. Goodwill included on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (the balance sheet as of the fiscal year ended 2016 was $199.6 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (During the fourth quarter of 2016, the Company completed its annual impairment test of goodwill and tradenames and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (determined the fair value of all intangibles were substantially in excess of the respective carrying values.Significant judgment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (is required to determine if an indication of impairment has taken place.Factors to be considered include the following: adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (changes in operating results, decline in strategic business plans, significantly lower future cash flows, and sustainable declines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (in market data such as market capitalization.) Tj ET Q q 0 0 0 rg BT 232.43 142.10 Td (A) Tj ET Q q 0 0 0 rg BT 239.10 142.10 Td ( 10 percent decrease in the fair value estimates used in the impairment test ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (would not have changed this determination.) Tj ET Q q 0 0 0 rg BT 229.78 130.10 Td (The sensitivity analysis required the use of numerous subjective assumptions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (which, if actual experience varies, could result in material dif) Tj ET Q q 0 0 0 rg BT 295.00 118.10 Td (ferences in the requirements for impairment char) Tj ET Q q 0 0 0 rg BT 490.28 118.10 Td (ges.Further) Tj ET Q q 0 0 0 rg BT 540.15 118.10 Td (, an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (extended downturn in the economy may impact certain components of the operating segments more significantly and could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (result in changes to the aggregation assumptions and impairment determination.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 86.57 70.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (Under the requirements of F) Tj ET Q q 0 0 0 rg BT 162.56 58.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 183.96 58.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 205.73 58.10 Td (T) Tj ET Q q 0 0 0 rg BT 211.14 58.10 Td (opic 740,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 250.86 58.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 287.43 58.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.20 58.10 Td (, the Company records deferred tax assets and liabilities for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (future tax consequences attributable to dif) Tj ET Q q 0 0 0 rg BT 217.81 46.10 Td (ferences between financial statement carrying amounts of existing assets and ) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (apply to taxable income in the years in which those temporary dif) Tj ET Q q 0 0 0 rg BT 312.24 730.10 Td (ferences are expected to be recovered or settled. ) Tj ET Q q 0 0 0 rg BT 506.67 730.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Company analyzes the deferred tax assets and liabilities for their future realization based on the estimated existence of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (suf) Tj ET Q q 0 0 0 rg BT 62.04 706.10 Td (ficient taxable income. ) Tj ET Q q 0 0 0 rg BT 158.21 706.10 Td (This analysis considers the following sources of taxable income: prior year taxable income, future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (reversals of existing taxable temporary dif) Tj ET Q q 0 0 0 rg BT 218.93 694.10 Td (ferences, future taxable income exclusive of reversing temporary dif) Tj ET Q q 0 0 0 rg BT 492.24 694.10 Td (ferences and tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (planning strategies that would generate taxable income in the relevant period. If suf) Tj ET Q q 0 0 0 rg BT 386.37 682.10 Td (ficient taxable income is not projected then ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (the Company will record a valuation allowance against the relevant deferred tax assets. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (The Company's operations involve dealing with uncertainties and judgments in the application of complex tax regulations in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (multiple jurisdictions. ) Tj ET Q q 0 0 0 rg BT 142.59 634.10 Td (These jurisdictions have dif) Tj ET Q q 0 0 0 rg BT 253.22 634.10 Td (ferent tax rates, and the Company determines the allocation of income to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (each of these jurisdictions based upon various estimates and assumptions. In the normal course of business, the Company will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (under) Tj ET Q q 0 0 0 rg BT 72.59 610.10 Td (go tax audits by various tax jurisdictions. Such audits often require an extended period of time to complete and may result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (in income tax adjustments if changes to the allocation are required between jurisdictions with dif) Tj ET Q q 0 0 0 rg BT 436.93 598.10 Td (ferent tax rates. ) Tj ET Q q 0 0 0 rg BT 503.66 598.10 Td (The final ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (taxes paid are dependent upon many factors, including negotiations with taxing authorities in the various jurisdictions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (resolution of disputes arising from federal, state, and international tax audits. ) Tj ET Q q 0 0 0 rg BT 361.87 574.10 Td (Although the Company has recorded all income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (tax uncertainties in accordance with F) Tj ET Q q 0 0 0 rg BT 201.14 562.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 222.54 562.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 244.32 562.10 Td (T) Tj ET Q q 0 0 0 rg BT 249.73 562.10 Td (opic 740, these accruals represent estimates that are subject to the inherent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (uncertainties associated with the tax audit process, and therefore include uncertainties.Management judgment is required in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (determining the Company) Tj ET Q q 0 0 0 rg BT 157.20 538.10 Td (s provision for income taxes, deferred tax assets and liabilities, which, if actual experience varies, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (could result in material adjustments to tax expense and/or deferred tax assets and liabilities. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Pension and Employee Benefit Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (The Company consults with its actuaries to assist with the calculation of discount rates used in its pension and post retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (plans. Beginning in 2016, the discount rates used to determine domestic pension and post-retirement plan liabilities are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (calculated using a full yield curve approach. ) Tj ET Q q 0 0 0 rg BT 231.69 466.10 Td (The change compared to the previous method resulted in dif) Tj ET Q q 0 0 0 rg BT 472.27 466.10 Td (ferent service and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (interest components of net periodic benefit cost in the 2016 fiscal year) Tj ET Q q 0 0 0 rg BT 330.75 454.10 Td (. Historically) Tj ET Q q 0 0 0 rg BT 384.81 454.10 Td (, the Company estimated these service and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (interest cost components utilizing a single weighted-average discount rate derived from the yield curve used to measure the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (benefit obligation at the beginning of the period. ) Tj ET Q q 0 0 0 rg BT 248.66 430.10 Td (The Company made this change to provide a more precise measurement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (service and interest costs by improving the correlation between projected benefit cash flows to the corresponding spot yield ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (curve rates. Market conditions have caused the weighted-average discount rate to move from 4.37 percent last year to 4.13 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (percent this year for the domestic pension plans and from 4.09 percent last year to 3.89 percent this year for the postretirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (health and life insurance plan. ) Tj ET Q q 0 0 0 rg BT 172.18 382.10 Td (A) Tj ET Q q 0 0 0 rg BT 178.85 382.10 Td ( change in the discount rate selected by the Company of 25 basis points would result in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (change of about $0.1 million to employee benefit expense and a change of about $4.1 million of liability) Tj ET Q q 0 0 0 rg BT 467.29 370.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (The Company consults with actuaries and investment advisors in making its determination of the expected long-term rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (return on plan assets. Using input from these consultations such as long-term investment sector expected returns, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (correlations and standard deviations thereof, and the plan asset allocation, the Company has assumed an expected long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (rate of return on plan assets of 6.25 percent as of the fiscal year ended 2016. ) Tj ET Q q 0 0 0 rg BT 359.06 310.10 Td (A) Tj ET Q q 0 0 0 rg BT 365.73 310.10 Td ( change in the long-term rate of return selected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (by the Company of 25 basis points would result in a change of about $0.4 million of employee benefit expense. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (According to F) Tj ET Q q 0 0 0 rg BT 109.80 274.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 131.21 274.10 Td (ASC 715,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 173.16 274.10 Td (Compensation - Retir) Tj ET Q q 0 0 0 rg BT 258.89 274.10 Td (ement Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.48 274.10 Td (, settlement accounting is triggered when lump sum payouts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (from a defined benefit plan exceed the sum of service cost and interest cost for the year) Tj ET Q q 0 0 0 rg BT 398.75 262.10 Td (. During 2016, one of the Company) Tj ET Q q 0 0 0 rg BT 543.73 262.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (domestic pension plans required settlement accounting as a payout to a participant exceeded these criteria. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (F) Tj ET Q q 0 0 0 rg BT 54.82 226.10 Td (ACT) Tj ET Q q 0 0 0 rg BT 74.64 226.10 Td (ORS ) Tj ET Q q 0 0 0 rg BT 96.41 226.10 Td (THA) Tj ET Q q 0 0 0 rg BT 115.85 226.10 Td (T) Tj ET Q q 0 0 0 rg BT 121.78 226.10 Td ( MA) Tj ET Q q 0 0 0 rg BT 139.48 226.10 Td (Y) Tj ET Q q 0 0 0 rg BT 146.33 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.28 226.10 Td (AFFECT) Tj ET Q q 0 0 0 rg BT 185.33 226.10 Td ( FUTURE RESUL) Tj ET Q q 0 0 0 rg BT 259.97 226.10 Td (TS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (This annual report on Form 10-K contains certain forward-looking information, such as statements about the Company) Tj ET Q q 0 0 0 rg BT 528.78 214.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (financial goals, acquisition strategies, financial expectations including anticipated revenue or expense levels, business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (prospects, market positioning, product development, manufacturing re-alignment, capital expenditures, tax benefits and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (expenses, and the ef) Tj ET Q q 0 0 0 rg BT 130.34 178.10 Td (fect of contingencies or changes in accounting policies.Forward-looking statements are typically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (identified by words or phrases such as believe, expect, anticipate, intend, estimate, may increase, may fluctuate, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (plan, goal, tar) Tj ET Q q 0 0 0 rg BT 126.99 154.10 Td (get, strategy) Tj ET Q q 0 0 0 rg BT 184.09 154.10 Td (, and similar expressions or future or conditional verbs such as may) Tj ET Q q 0 0 0 rg BT 462.26 154.10 Td (, will, should, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (would, and could.) Tj ET Q q 0 0 0 rg BT 144.23 142.10 Td (While the Company believes that the assumptions underlying such forward-looking statements are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (reasonable based on present conditions, forward-looking statements made by the Company involve risks and uncertainties and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (are not guarantees of future performance. ) Tj ET Q q 0 0 0 rg BT 219.92 118.10 Td (Actual results may dif) Tj ET Q q 0 0 0 rg BT 308.33 118.10 Td (fer materially from those forward-looking statements as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (result of various factors, including general economic and currency conditions, various conditions specific to the Company) Tj ET Q q 0 0 0 rg BT 540.70 106.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (business and industry) Tj ET Q q 0 0 0 rg BT 135.46 94.10 Td (, new housing starts, weather conditions, market demand, competitive factors, changes in distribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (channels, supply constraints, ef) Tj ET Q q 0 0 0 rg BT 175.07 82.10 Td (fect of price increases, raw material costs, technology factors, integration of acquisitions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (litigation, government and regulatory actions, the Company) Tj ET Q q 0 0 0 rg BT 291.61 70.10 Td (s accounting policies, and other risks, all as described in Item 1A) Tj ET Q q 0 0 0 rg BT 551.27 70.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (and Exhibit 99.1 of this Form 10-K.) Tj ET Q q 0 0 0 rg BT 198.33 58.10 Td (Any forward-looking statements included in this Form 10-K are based upon information ) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (presently available. ) Tj ET Q q 0 0 0 rg BT 132.56 742.10 Td (The Company does not assume any obligation to update any forward-looking information, except as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (required by law) Tj ET Q q 0 0 0 rg BT 112.10 730.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (ITEM 7A. QUANTIT) Tj ET Q q 0 0 0 rg BT 142.32 706.10 Td (A) Tj ET Q q 0 0 0 rg BT 148.80 706.10 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 175.21 706.10 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 238.08 706.10 Td (A) Tj ET Q q 0 0 0 rg BT 244.56 706.10 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 344.04 706.10 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 379.42 706.10 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 426.74 706.10 Td ( RISK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (The Company is subject to market risk associated with changes in foreign currency exchange rates, interest rates, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (commodity prices. ) Tj ET Q q 0 0 0 rg BT 129.25 670.10 Td (These exposures are actively monitored by management. Exposure to foreign exchange rate risk is due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (certain costs, revenue and borrowings being denominated in currencies other than one of our subsidiaries functional currency) Tj ET Q q 0 0 0 rg BT 550.01 658.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (Similarly) Tj ET Q q 0 0 0 rg BT 86.57 646.10 Td (, the Company is exposed to market risk as the result of changes in interest rates which may af) Tj ET Q q 0 0 0 rg BT 463.79 646.10 Td (fect the cost of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (financing. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (For) Tj ET Q q 0 0 0 rg BT 65.37 610.10 Td (eign Curr) Tj ET Q q 0 0 0 rg BT 107.12 610.10 Td (ency Exchange Rate Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Foreign currency exchange rate risk is mitigated through several means including maintenance of local production facilities in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (the markets served, invoicing of customers in the currency which the Company is billed for production inputs, prompt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (settlement of third party and inter) Tj ET Q q 0 0 0 rg BT 183.93 562.10 Td (-company balances, limited use of foreign currency denominated debt, maintaining minimal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (foreign currency denominated cash balances, and application of derivative instruments when appropriate. Based on the 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (mix of foreign currencies, the Company estimates that a hypothetical strengthening of the US Dollar by about 5 percent would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (have reduced the Company) Tj ET Q q 0 0 0 rg BT 161.90 526.10 Td (s 2016 sales by about 2 percent. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 71.48 502.10 Td (est Rate Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (The results of operations are exposed to changes in interest rates primarily with respect to borrowings under the Company) Tj ET Q q 0 0 0 rg BT 540.98 478.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (revolving credit agreement \(the Credit ) Tj ET Q q 0 0 0 rg BT 209.66 466.10 Td (Agreement\) and the New ) Tj ET Q q 0 0 0 rg BT 317.02 466.10 Td (Y) Tj ET Q q 0 0 0 rg BT 323.24 466.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 357.67 466.10 Td (Agreement, where interest rates are tied to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (prime rate or London Interbank Of) Tj ET Q q 0 0 0 rg BT 188.94 454.10 Td (fered Rates \(LIBOR\). ) Tj ET Q q 0 0 0 rg BT 280.67 454.10 Td (The Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.04 454.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.04 454.10 Td ( borrowings at year) Tj ET Q q 0 0 0 rg BT 444.32 454.10 Td (-end 2016 under the Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Agreement and had $75.0 million outstanding under the New ) Tj ET Q q 0 0 0 rg BT 297.35 442.10 Td (Y) Tj ET Q q 0 0 0 rg BT 303.57 442.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 338.01 442.10 Td (Agreement.) Tj ET Q q 0 0 0 rg BT 389.75 442.10 Td (The Company estimates that a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (hypothetical increase of 100 basis points in LIBOR rates would have increased interest expense by $1.0 million during 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (The Company also has exposure to changes in interest rates in the form of the fair value of outstanding fixed rate debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (fluctuating in response to changing interest rates. ) Tj ET Q q 0 0 0 rg BT 251.15 406.10 Td (The Company does not, as a matter of policy) Tj ET Q q 0 0 0 rg BT 430.18 406.10 Td (, enter into derivative contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (for speculative purposes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Commodity Price Exposur) Tj ET Q q 0 0 0 rg BT 163.70 370.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (Portions of the Company's business are exposed to volatility in the prices of certain commodities, such as copper) Tj ET Q q 0 0 0 rg BT 500.75 346.10 Td (, nickel and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (aluminum, among others. ) Tj ET Q q 0 0 0 rg BT 154.53 334.10 Td (The primary exposure to this volatility resides with the use of these materials in purchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (component parts. ) Tj ET Q q 0 0 0 rg BT 121.19 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 129.83 322.10 Td (e generally maintain long-term fixed price contracts on raw materials and component parts; however) Tj ET Q q 0 0 0 rg BT 531.78 322.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Company is prone to exposure as these contracts expire. Based on the 2016 use of commodities, the Company estimates that a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (hypothetical 10 percent adverse movement in prices for raw metal commodities would result in about a 100 basis point ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (decrease of gross mar) Tj ET Q q 0 0 0 rg BT 136.72 286.10 Td (gin as a percent of sales. ) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (ITEM 8. FINANCIAL) Tj ET Q q 0 0 0 rg BT 145.29 730.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 159.28 730.10 Td (A) Tj ET Q q 0 0 0 rg BT 165.76 730.10 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 216.61 730.10 Td (AND SUPPLEMENT) Tj ET Q q 0 0 0 rg BT 308.37 730.10 Td (AR) Tj ET Q q 0 0 0 rg BT 322.46 730.10 Td (Y) Tj ET Q q 0 0 0 rg BT 329.31 730.10 Td ( DA) Tj ET Q q 0 0 0 rg BT 345.51 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 351.44 730.10 Td (A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 706.10 Td (FRANKLIN ELECTRIC CO., INC. ) Tj ET Q q 0 0 0 rg BT 293.89 706.10 Td (AND CONSOLIDA) Tj ET Q q 0 0 0 rg BT 374.73 706.10 Td (TED SUBSIDIARIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.50 694.10 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 263.17 694.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 295.98 694.10 Td (A) Tj ET Q q 0 0 0 rg BT 302.09 694.10 Td (TEMENTS OF INCOME) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 631.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 631.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 631.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 631.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 631.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 631.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 601.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 601.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 601.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 601.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 601.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 601.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 571.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 571.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 571.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 571.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 571.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 571.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 541.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 541.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 541.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 541.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 541.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 541.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 511.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 511.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 511.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 511.60 65.00 -15.00 re f /GS0 gs 0.8 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(949,856) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 621.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 621.27 Td (924,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 621.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 621.27 Td (1,047,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 606.27 Td (Cost of sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 606.27 Td (618,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 606.27 Td (627,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 606.27 Td (703,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 591.27 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 591.27 Td (331,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 591.27 Td (297,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 591.27 Td (344,410) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 576.27 Td (Selling, general, and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 576.27 Td (221,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 576.27 Td (204,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 576.27 Td (227,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 561.27 Td (Restructuring \(income\)/expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.30 561.32 Td (\(598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 561.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 561.27 Td (2,997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 561.27 Td (16,611) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 546.27 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 546.27 Td (110,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 546.27 Td (90,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 546.27 Td (100,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 531.27 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 531.32 Td (\(8,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 531.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET 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441.27 Td (Less: Net income attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.30 441.32 Td (\(570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 441.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 441.32 Td (\(746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 441.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 441.32 Td (\(1,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 441.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 426.27 Td (Net income attributable to Franklin Electric Co., Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 426.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 426.27 Td (78,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 426.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 426.27 Td (72,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 426.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 426.27 Td (69,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 411.27 Td (Income per share:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 396.27 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 396.27 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 396.27 Td (1.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 396.27 Td (1.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 381.27 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 381.27 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 381.27 Td (1.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 381.27 Td (1.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 366.27 Td (Dividends per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 366.27 Td (0.3975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 366.27 Td (0.3825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 366.27 Td (0.3475) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.75 329.10 Td (See Notes to Consolidated Financial Statements.) 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RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 505.6 m 561.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 491.6 m 561.5 491.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 489.6 m 561.5 489.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 697.27 Td (\(In thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 697.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 697.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.50 697.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 667.27 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.15 667.27 Td (79,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 667.27 Td (73,691) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 667.27 Td (70,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 652.27 Td (Other comprehensive income/\(loss\), before tax:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 637.27 Td ( Foreign currency translation adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 637.32 Td (\(8,459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 637.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.80 637.32 Td (\(58,886) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 637.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 637.32 Td (\(36,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 637.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 622.27 Td ( Employee benefit plan activity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 607.27 Td ( Net gain/\(loss\) arising during period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 607.32 Td (\(3,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 607.27 Td (1,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 607.32 Td (\(30,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 592.27 Td ( Amortization arising during period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 592.27 Td (4,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 592.27 Td (5,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 592.27 Td (4,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 577.27 Td (Other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 577.32 Td (\(7,970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.80 577.32 Td (\(51,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 577.32 Td (\(62,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 563.17 Td (Income tax \(expense\)/benefit related to items of other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 553.22 Td (comprehensive income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.30 555.32 Td (\(499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 555.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.80 555.32 Td (\(2,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 555.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 555.27 Td (8,593) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 540.27 Td (Other comprehensive loss, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 540.32 Td (\(8,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 540.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.80 540.32 Td (\(54,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 540.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 540.32 Td (\(53,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 540.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 525.27 Td (Comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.15 525.27 Td (70,846) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 525.27 Td (19,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 525.27 Td (17,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 510.27 Td (Less: Comprehensive income attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 510.27 Td (345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 510.27 Td (121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 510.27 Td (570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 495.27 Td (Comprehensive income attributable to Franklin Electric Co., Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 495.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.15 495.27 Td (70,501) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 495.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 495.27 Td (19,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 495.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 495.27 Td (16,622) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.75 455.10 Td (See Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 718.10 Td (FRANKLIN ELECTRIC CO., INC. ) Tj ET Q q 0 0 0 rg BT 293.89 718.10 Td (AND CONSOLIDA) Tj ET Q q 0 0 0 rg BT 374.73 718.10 Td (TED SUBSIDIARIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.50 706.10 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 280.17 706.10 Td (TED BALANCE SHEETS) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 635.60 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 635.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 635.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 635.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 605.60 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 605.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 605.60 4.00 -15.00 re f /GS0 gs 0.8 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RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 410.6 m 561.5 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 410.6 m 492.5 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 410.6 m 561.5 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 380.6 m 492.5 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 380.6 m 561.5 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 380.6 m 492.5 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 380.6 m 561.5 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 290.6 m 492.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 290.6 m 561.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 290.6 m 492.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 276.6 m 492.5 276.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 274.6 m 492.5 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 290.6 m 561.5 290.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 276.6 m 561.5 276.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 274.6 m 561.5 274.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 685.27 Td (\(In thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 685.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 685.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 655.27 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 655.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 655.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 640.27 Td (Current assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 640.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 640.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 625.27 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 625.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 625.27 Td (104,331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 625.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 625.27 Td (81,561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 610.27 Td (Receivables, less allowances of $3,601 and $3,801, respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 610.27 Td (145,999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 610.27 Td (127,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 595.27 Td (Inventories:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 580.27 Td (Raw material) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 580.27 Td (80,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 580.27 Td (82,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 565.27 Td (Work-in-process) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 565.27 Td (18,735) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 565.27 Td (18,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 550.27 Td (Finished goods) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 550.27 Td (104,684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 550.27 Td (93,987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 535.27 Td (Total inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 535.27 Td (203,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 535.27 Td (194,594) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 520.27 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 520.27 Td (30,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 520.27 Td (34,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 505.27 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 505.27 Td (483,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 505.27 Td (438,121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 475.27 Td (Property, plant, and equipment, at cost:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 460.27 Td (Land and buildings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 460.27 Td (121,364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 460.27 Td (117,753) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 445.27 Td (Machinery and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 445.27 Td (242,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 445.27 Td (233,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 430.27 Td (Furniture and fixtures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 430.27 Td (47,523) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 430.27 Td (39,639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 415.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 415.27 Td (19,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 415.27 Td (19,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 400.27 Td (Property, plant, and equipment, gross) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 400.27 Td (430,146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 400.27 Td (411,071) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 385.27 Td (Less: Allowance for depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 385.32 Td (\(234,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 385.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 385.32 Td (\(221,032) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 385.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 370.27 Td (Property, plant, and equipment, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 370.27 Td (196,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 370.27 Td (190,039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 355.27 Td (Asset held for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 355.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 355.27 Td (1,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 340.27 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 340.27 Td (4,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 340.27 Td (3,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 325.27 Td (Intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 325.27 Td (134,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 325.27 Td (141,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 310.27 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 310.27 Td (199,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 310.27 Td (199,847) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 295.27 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 295.27 Td (21,052) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 295.27 Td (21,673) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 280.27 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 280.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 280.27 Td (1,039,905) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 280.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 280.27 Td (996,111) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (35) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 688.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 688.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 688.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 658.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 658.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 658.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 628.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 628.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 628.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 598.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 598.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 598.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 598.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 568.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 568.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 568.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 568.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 538.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 538.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 538.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 538.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 508.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 508.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 508.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 508.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 478.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 478.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 478.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 478.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 437.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 437.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 437.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 437.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 407.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 407.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 407.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 407.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 377.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 377.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 377.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 377.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 347.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 347.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 347.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 347.50 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 733.5 m 492.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 733.5 m 561.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 628.5 m 492.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 628.5 m 561.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 628.5 m 492.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 628.5 m 561.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 392.5 m 492.5 392.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 392.5 m 561.5 392.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 392.5 m 492.5 392.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 392.5 m 561.5 392.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 362.5 m 492.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 362.5 m 561.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 362.5 m 492.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 347.5 m 492.5 347.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 362.5 m 561.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 347.5 m 561.5 347.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 333.5 m 492.5 333.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 331.5 m 492.5 331.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 347.5 m 561.5 347.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 333.5 m 561.5 333.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 331.5 m 561.5 331.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 738.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 738.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 708.17 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 708.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 708.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 693.17 Td (Current liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 693.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 693.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 678.17 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 678.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 678.17 Td (63,927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 678.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 678.17 Td (57,822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 663.17 Td (Accrued expenses and other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 663.17 Td (56,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 663.17 Td (52,109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 648.17 Td (Income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 648.17 Td (3,274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 648.17 Td (1,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 633.17 Td (Current maturities of long-term debt and short-term borrowings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 633.17 Td (33,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 633.17 Td (32,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 618.17 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 618.17 Td (157,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 618.17 Td (144,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 603.17 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 603.17 Td (156,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 603.17 Td (187,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 588.17 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 588.17 Td (40,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 588.17 Td (33,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 573.17 Td (Employee benefit plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 573.17 Td (45,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 573.17 Td (47,398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 558.17 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 558.17 Td (17,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 558.17 Td (16,511) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 528.17 Td (Commitments and contingencies \(see Note 17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 528.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 528.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 498.17 Td (Redeemable noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 498.17 Td (7,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 498.17 Td (6,856) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 468.17 Td (Shareholders' equity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 452.17 Td (Common stock \(65,000 shares authorized, $.10 par value\) outstanding \(46,376 and 46,219,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 442.17 Td (respectively\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 442.17 Td (4,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 442.17 Td (4,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 427.17 Td (Additional capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 427.17 Td (228,564) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 427.17 Td (216,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 412.17 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 412.17 Td (550,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 412.17 Td (498,214) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 397.17 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 397.22 Td (\(169,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 397.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 397.22 Td (\(161,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 397.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 382.17 Td (Total shareholders' equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 382.17 Td (613,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 382.17 Td (557,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 367.17 Td (Noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 367.17 Td (1,643) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 367.17 Td (1,765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 352.17 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 352.17 Td (615,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 352.17 Td (559,465) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 337.17 Td (Total liabilities and equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 337.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 337.17 Td (1,039,905) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 337.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 337.17 Td (996,111) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.75 297.00 Td (See Notes to Consolidated Financial Statements.) 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rg BT 449.50 710.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 710.17 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 689.27 Td (Cash flows from operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 689.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 689.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 674.27 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 674.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 674.27 Td (79,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 674.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 674.27 Td (73,691) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 674.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 674.27 Td (70,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 659.27 Td (Adjustments to reconcile net income to net cash flows from operating) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 649.27 Td (activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 634.27 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 634.27 Td (35,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 634.27 Td (35,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 634.27 Td (37,210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 619.27 Td (Share-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 619.27 Td (6,889) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 619.27 Td (5,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 619.27 Td (7,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 604.27 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 604.27 Td (2,978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 604.32 Td (\(6,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 604.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 604.32 Td (\(2,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 604.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 589.27 Td (Loss on disposals of plant and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 589.27 Td (751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 589.27 Td (1,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 589.27 Td (1,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 574.27 Td (Realized gain on share purchase liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 574.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 574.32 Td (\(2,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 574.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 574.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 559.27 Td (Foreign exchange \(income\)/expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 559.32 Td (\(1,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 559.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 559.27 Td (869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 559.27 Td (999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 544.27 Td (Excess tax from share-based payment arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 544.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 544.32 Td (\(932) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 544.32 Td (\(2,463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 529.27 Td (Changes in assets and liabilities, net of acquisitions:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 514.27 Td (Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 514.32 Td (\(21,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 514.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 514.27 Td (3,444) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 514.32 Td (\(29,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 514.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 499.27 Td (Inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 499.32 Td (\(7,636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 499.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 499.27 Td (9,350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 499.32 Td (\(32,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 499.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 484.27 Td (Accounts payable and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 484.27 Td (11,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 484.32 Td (\(19,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 484.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 484.27 Td (22,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 469.27 Td (Income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 469.27 Td (4,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 469.27 Td (5,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 469.32 Td (\(14,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 469.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 454.27 Td (Employee benefit plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 454.32 Td (\(1,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 454.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 454.32 Td (\(2,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 454.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 454.32 Td (\(6,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 454.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 439.27 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 439.27 Td (4,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 439.32 Td (\(3,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 439.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 439.32 Td (\(5,693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 439.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 424.27 Td (Net cash flows from operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 424.27 Td (115,374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 424.27 Td (99,603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 424.27 Td (47,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 409.27 Td (Cash flows from investing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 394.27 Td (Additions to property, plant, and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 394.32 Td (\(39,136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 394.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 394.32 Td (\(26,171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 394.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 394.32 Td (\(35,525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 394.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 379.27 Td (Proceeds from sale of property, plant, and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 379.27 Td (6,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 379.27 Td (202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 379.27 Td (1,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 364.27 Td (Cash paid for acquisitions, net of cash acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 364.32 Td (\(1,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 364.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 364.32 Td (\(3,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 364.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 364.32 Td (\(35,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 364.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 349.27 Td (Additional consideration for prior acquisition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 349.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 349.32 Td (\(127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 349.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 349.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 334.27 Td (Cash paid for minority equity investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 334.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 334.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 334.32 Td (\(6,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 334.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 319.27 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 319.27 Td (346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 319.27 Td (274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 319.32 Td (\(1,490) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 319.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 304.27 Td (Net cash flows from investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 304.32 Td (\(33,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 304.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 304.32 Td (\(29,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 304.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 304.32 Td (\(77,722) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 304.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 289.27 Td (Cash flows from financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 274.27 Td (Proceeds from issuance of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 274.27 Td (64,681) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 274.27 Td (233,486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 274.27 Td (98,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 259.27 Td (Repayment of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 259.32 Td (\(95,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 259.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 259.32 Td (\(189,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 259.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 259.32 Td (\(117,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 259.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 244.27 Td (Proceeds from issuance of common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 244.27 Td (5,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 244.27 Td (2,050) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 244.27 Td (2,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 229.27 Td (Excess tax from share-based payment arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 229.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 229.27 Td (932) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 229.27 Td (2,463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 214.27 Td (Purchases of common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 214.32 Td (\(7,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 214.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 214.32 Td (\(48,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 214.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 214.32 Td (\(10,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 214.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 199.27 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 199.32 Td (\(19,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 199.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 199.32 Td (\(18,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 199.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 199.32 Td (\(17,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 199.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 184.27 Td (Purchase of redeemable noncontrolling shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 184.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 184.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 184.32 Td (\(2,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 184.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 169.27 Td (Share purchase liability payment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 169.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 169.32 Td (\(20,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 169.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 169.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 154.27 Td (Net cash flows from financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 154.32 Td (\(51,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 154.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 154.32 Td (\(41,147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 154.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 154.32 Td (\(44,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 154.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 139.27 Td (Effect of exchange rate changes on cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 139.32 Td (\(7,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 139.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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(See Notes to Consolidated Financial Statements.) 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 344.60 57.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 344.60 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 344.60 56.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 344.60 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 344.60 58.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 303.60 102.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 303.60 50.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 303.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 303.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 303.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 303.60 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 303.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 303.60 42.00 -16.00 re f /GS0 gs 0.8 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422.6 m 265.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 422.6 m 314.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 422.6 m 360.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 422.6 m 421.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 422.6 m 481.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 422.6 m 543.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 219.60000000000002 m 219.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 219.60000000000002 m 219.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 219.60000000000002 m 265.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 219.60000000000002 m 314.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 219.60000000000002 m 360.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 219.60000000000002 m 421.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 219.60000000000002 m 481.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 219.60000000000002 m 543.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 48.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 48.10000000000002 m BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.55 710.85 Td (Total Shareholders' Equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 667.85 Td (\(In thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 179.10 683.85 Td (Common ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 183.30 675.85 Td (Shares) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 174.40 667.85 Td (Outstanding) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.10 675.85 Td (Common) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.85 667.85 Td (Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.35 675.85 Td (Additional) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.90 667.85 Td (Capital) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.75 675.85 Td (Retained) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.75 667.85 Td (Earnings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.15 691.85 Td (Accumulated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.35 683.85 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.35 675.85 Td (Comprehensive) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.15 667.85 Td (Income/\(Loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.55 675.85 Td (Noncontrolling) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.00 667.85 Td (Interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.20 683.85 Td (Redeemable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.55 675.85 Td (Noncontrolling) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.00 667.85 Td (Interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 651.85 Td (Balance as of year end 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.25 651.85 Td (47,715) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.25 651.85 Td (4,771) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.25 651.85 Td (194,810) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.25 651.85 Td (450,855) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.60 651.85 Td (\(54,729) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 651.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 651.85 Td (2,509) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 651.85 Td (5,171) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 635.85 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.25 635.85 Td (69,806) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.30 635.85 Td (654) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.30 635.85 Td (392) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 623.55 Td (Currency translation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 615.55 Td (adjustment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.60 615.85 Td (\(35,767) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 615.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.60 615.85 Td (\(220) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 615.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 615.85 Td (\(256) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 615.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 603.55 Td (Minimum pension liability) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 595.55 Td (adjustment, net of tax benefit) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 587.60 Td (of $8,593) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.60 589.85 Td (\(17,417) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 589.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 577.55 Td (Adjustments to Impo) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 569.55 Td (redemption value) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.60 569.85 Td (\(910) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 569.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.30 569.85 Td (910) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 554.85 Td (Dividends on common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 546.85 Td (\($0.3475/share\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 546.85 Td (\(16,621) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 546.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 530.85 Td (Noncontrolling dividend) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.60 530.85 Td (\(800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 530.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 514.85 Td (Acquisitions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 514.85 Td (3,078) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 498.85 Td (Common stock issued) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.30 498.85 Td (172) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 498.85 Td (17) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 498.85 Td (2,912) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 486.55 Td (Purchase of redeemable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 478.55 Td (noncontrolling shares) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.60 479.85 Td (\(2,875) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 479.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 463.85 Td (Share-based compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 209.60 463.85 Td (\(9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.30 463.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.60 463.85 Td (\(1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.30 463.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 463.85 Td (7,472) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 447.85 Td (Common stock repurchased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.60 447.85 Td (\(284) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.30 447.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.60 447.85 Td (\(28) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.30 447.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 447.85 Td (\(10,582) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 447.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 434.85 Td (Tax benefit of stock options) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 426.85 Td (exercised) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 426.85 Td (2,252) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 410.85 Td (Balance as of year end 2014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.25 410.85 Td (47,594) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 410.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.25 410.85 Td (4,759) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.00 410.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.25 410.85 Td (207,446) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.00 410.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.25 410.85 Td (492,548) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.00 410.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.60 410.85 Td (\(107,913) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 410.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.00 410.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 410.85 Td (2,143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.00 410.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 410.85 Td (6,420) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 394.85 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.25 394.85 Td (72,945) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.30 394.85 Td (591) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.30 394.85 Td (155) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 382.55 Td (Currency translation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 374.55 Td (adjustment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.60 375.85 Td (\(58,261) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 375.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.60 375.85 Td (\(146) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 375.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 375.85 Td (\(479) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 375.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 363.55 Td (Minimum pension liability) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 355.55 Td (adjustment, net of tax) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 347.55 Td (expense of $2,471) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 348.85 Td (4,566) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 336.55 Td (Adjustments to Impo) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 328.55 Td (redemption value) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.60 329.85 Td (\(760) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 329.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.30 329.85 Td (760) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 315.85 Td (Dividends on common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 307.85 Td (\($0.3825/share\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 307.85 Td (\(18,103) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 307.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 291.85 Td (Noncontrolling dividend) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.60 291.85 Td (\(823) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 291.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 275.85 Td (Common stock issued) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.30 275.85 Td (108) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 275.85 Td (11) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 275.85 Td (2,039) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 259.85 Td (Share-based compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.30 259.85 Td (151) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 259.85 Td (15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 259.85 Td (5,611) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 243.85 Td (Common stock repurchased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.60 243.85 Td (\(1,634) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.30 243.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.60 243.85 Td (\(163) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.30 243.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 243.85 Td (\(48,416) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 243.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 231.55 Td (Tax benefit of stock options) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 223.55 Td (exercised) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 223.85 Td (1,376) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 207.85 Td (Balance as of year end 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.25 207.85 Td (46,219) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 207.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.25 207.85 Td (4,622) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.00 207.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.25 207.85 Td (216,472) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.00 207.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.25 207.85 Td (498,214) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.00 207.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.60 207.85 Td (\(161,608) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 207.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.00 207.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 207.85 Td (1,765) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.00 207.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 207.85 Td (6,856) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 191.85 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.25 191.85 Td (78,745) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.30 191.85 Td (577) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 191.85 Td (\(7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 191.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 179.55 Td (Currency translation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 171.55 Td (adjustment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.60 172.85 Td (\(8,234) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 172.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.60 172.85 Td (\(26) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 172.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 172.85 Td (\(199) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 172.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 160.55 Td (Minimum pension liability) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 152.55 Td (adjustment, net of tax) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 144.55 Td (expense of $499) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.60 144.85 Td (\(10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 144.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 130.85 Td (Adjustments to Impo) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 122.85 Td (redemption value) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.60 122.85 Td (\(1,002) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 122.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 122.85 Td (1,002) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 108.85 Td (Dividends on common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 100.85 Td (\($0.3975/share\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 100.85 Td (\(18,464) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 100.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 84.85 Td (Noncontrolling dividend) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.60 84.85 Td (\(673) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 84.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 68.85 Td (Common stock issued) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.30 68.85 Td (274) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 68.85 Td (27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 68.85 Td (5,216) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (39) Tj ET Q 1 1 1 rg /GS0 gs 67.50 731.50 102.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 169.50 731.50 50.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 219.50 731.50 4.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 223.50 731.50 42.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 265.50 731.50 4.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 269.50 731.50 45.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 314.50 731.50 4.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 318.50 731.50 42.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 360.50 731.50 4.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 364.50 731.50 57.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 421.50 731.50 4.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 425.50 731.50 56.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 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389.60 650.75 Td (\(169,852) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 650.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.00 650.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 650.75 Td (1,643) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.00 650.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 650.75 Td (7,652) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.75 623.00 Td (See Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 81 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 82 0 R>> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.25 742.25 Td (FRANKLIN ELECTRIC CO., INC. ) Tj ET Q q 0 0 0 rg BT 295.10 742.25 Td (AND CONSOLIDA) Tj ET Q q 0 0 0 rg BT 379.09 742.25 Td (TED SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.65 730.25 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 184.20 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 190.69 730.25 Td (O NOTES ) Tj ET Q q 0 0 0 rg BT 237.18 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 243.67 730.25 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 313.78 730.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 392.96 730.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 406.94 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 413.42 730.25 Td (TEMENTS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 682.75 m 561.5 682.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.75 697.42 Td (Page) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 687.42 Td (Number) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 662.42 Td (Note 1.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 632.42 Td (Note 3.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 631.9833984375 m 182.6650390625 631.9833984375 l s q 0 0 1 rg BT 136.00 633.32 Td (Acquisition) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 182.6650390625 631.9833984375 m 186.556640625 631.9833984375 l s q 0 0 1 rg BT 182.67 633.32 Td (s) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 189.50 633.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 617.42 Td (Note 4.) 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Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 571.9833984375 m 287.0888671875 571.9833984375 l s q 0 0 1 rg BT 136.00 573.32 Td (Goodwill and Other Intangible ) Tj ET Q q 0 0 1 rg BT 260.98 573.32 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.50 573.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 557.42 Td (Note 8.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 556.9833984375 m 232.6455078125 556.9833984375 l s q 0 0 1 rg BT 136.00 558.32 Td (Employee Benefit Plans) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.50 558.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 542.42 Td (Note 9.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 541.9833984375 m 324.544921875 541.9833984375 l s q 0 0 1 rg BT 136.00 543.32 Td (Accrued Expense and Other Current Liabilities) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.50 543.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 527.42 Td (Note 10.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 526.9833984375 m 191.4833984375 526.9833984375 l s q 0 0 1 rg BT 136.00 528.32 Td (Income ) Tj ET Q q 0 0 1 rg BT 168.30 528.32 Td (T) Tj ET Q q 0 0 1 rg BT 173.71 528.32 Td (axes) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.50 528.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 512.42 Td (Note 11.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 511.9833984375 m 155.4384765625 511.9833984375 l s q 0 0 1 rg BT 136.00 513.32 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.50 513.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 497.42 Td (Note 12.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 496.9833984375 m 219.173828125 496.9833984375 l s q 0 0 1 rg BT 136.00 498.32 Td (Shareholders' Equity) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.50 498.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 482.42 Td (Note 13.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 481.9833984375 m 340.3798828125 481.9833984375 l s q 0 0 1 rg BT 136.00 483.32 Td (Accumulated Other Comprehensive Income \(Loss\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 483.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 467.42 Td (Note 14.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 466.9833984375 m 212.083984375 466.9833984375 l s q 0 0 1 rg BT 136.00 468.32 Td (Earnings per Share) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.50 468.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 452.42 Td (Note 15.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 451.9833984375 m 246.810546875 451.9833984375 l s q 0 0 1 rg BT 136.00 453.32 Td (Share-Based Compensation) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.50 453.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 437.42 Td (Note 16.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 436.9833984375 m 287.3427734375 436.9833984375 l s q 0 0 1 rg BT 136.00 438.32 Td (Segment and Geographic Information) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.50 438.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 422.42 Td (Note 17.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 421.9833984375 m 269.3203125 421.9833984375 l s q 0 0 1 rg BT 136.00 423.32 Td (Commitments and Contingencies) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.50 423.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 407.42 Td (Note 18.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 406.9833984375 m 190.43359375 406.9833984375 l s q 0 0 1 rg BT 136.00 408.32 Td (Restructuring) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.50 408.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 392.42 Td (Note 19.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136 391.9833984375 m 322.591796875 391.9833984375 l s q 0 0 1 rg BT 136.00 393.32 Td (Selected Quarterly Financial Data \(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.50 393.32 Td (. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 661.0833984375 m 540.5 661.0833984375 l s q 0 0 1 rg BT 530.50 662.42 Td (41) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 646.0833984375 m 540.5 646.0833984375 l s q 0 0 1 rg BT 530.50 647.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 631.0833984375 m 540.5 631.0833984375 l s q 0 0 1 rg BT 530.50 632.42 Td (45) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 616.0833984375 m 540.5 616.0833984375 l s q 0 0 1 rg BT 530.50 617.42 Td (46) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 601.0833984375 m 540.5 601.0833984375 l s q 0 0 1 rg BT 530.50 602.42 Td (47) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 586.0833984375 m 540.5 586.0833984375 l s q 0 0 1 rg BT 530.50 587.42 Td (47) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 571.0833984375 m 540.5 571.0833984375 l s q 0 0 1 rg BT 530.50 572.42 Td (47) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 556.0833984375 m 540.5 556.0833984375 l s q 0 0 1 rg BT 530.50 557.42 Td (48) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 541.0833984375 m 540.5 541.0833984375 l s q 0 0 1 rg BT 530.50 542.42 Td (53) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 526.0833984375 m 540.5 526.0833984375 l s q 0 0 1 rg BT 530.50 527.42 Td (54) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 511.0833984375 m 540.5 511.0833984375 l s q 0 0 1 rg BT 530.50 512.42 Td (57) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 496.0833984375 m 540.5 496.0833984375 l s q 0 0 1 rg BT 530.50 497.42 Td (58) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 481.0833984375 m 540.5 481.0833984375 l s q 0 0 1 rg BT 530.50 482.42 Td (59) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 466.0833984375 m 540.5 466.0833984375 l s q 0 0 1 rg BT 530.50 467.42 Td (60) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 451.0833984375 m 540.5 451.0833984375 l s q 0 0 1 rg BT 530.50 452.42 Td (60) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 436.0833984375 m 540.5 436.0833984375 l s q 0 0 1 rg BT 530.50 437.42 Td (62) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 421.0833984375 m 540.5 421.0833984375 l s q 0 0 1 rg BT 530.50 422.42 Td (64) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 406.0833984375 m 540.5 406.0833984375 l s q 0 0 1 rg BT 530.50 407.42 Td (64) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 530.5 391.0833984375 m 540.5 391.0833984375 l s q 0 0 1 rg BT 530.50 392.42 Td (65) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.30 742.25 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 211.52 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 218.01 742.25 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 288.11 742.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 367.29 742.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 381.28 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 387.76 742.25 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (1. SUMMAR) Tj ET Q q 0 0 0 rg BT 105.75 718.25 Td (Y) Tj ET Q q 0 0 0 rg BT 112.60 718.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 128.62 718.25 Td ( SIGNIFICANT) Tj ET Q q 0 0 0 rg BT 197.62 718.25 Td ( ) Tj ET Q q 0 0 0 rg BT 199.57 718.25 Td (ACCOUNTING POLICIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.45 706.25 Td (--Franklin Electric or the Company shall refer to Franklin Electric Co., Inc. and its consolidated subsidiaries.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Fiscal ) Tj ET Q q 0 0 0 rg BT 77.88 682.25 Td (Y) Tj ET Q q 0 0 0 rg BT 82.88 682.25 Td (ear) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.21 682.25 Td (--In December 2016, the Company's Board of Directors approved a change in reporting periods from fiscal periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (to a calendar year) Tj ET Q q 0 0 0 rg BT 120.23 670.25 Td (. ) Tj ET Q q 0 0 0 rg BT 127.55 670.25 Td (This change is ef) Tj ET Q q 0 0 0 rg BT 195.41 670.25 Td (fective beginning January 1, 2017. For fiscal years 2016 and prior) Tj ET Q q 0 0 0 rg BT 461.32 670.25 Td (, the Company's fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (year ends on the Saturday nearest December 31. ) Tj ET Q q 0 0 0 rg BT 247.52 658.25 Td (The financial statements and accompanying notes are as of and for the years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 646.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 646.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.79 646.25 Td (52 weeks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.28 646.25 Td (\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.61 646.25 Td (January2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.21 646.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.04 646.25 Td (52 weeks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.53 646.25 Td (\), and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.80 646.25 Td (January3, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.40 646.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.23 646.25 Td (53 weeks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.72 646.25 Td (\), and referred to as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.23 646.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.23 646.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 634.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.94 634.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.94 634.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 164.60 634.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (Principles of Consolidation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.79 610.25 Td (--The consolidated financial statements include the accounts of Franklin Electric Co., Inc. and its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (consolidated subsidiaries.) Tj ET Q q 0 0 0 rg BT 157.21 598.25 Td (All intercompany transactions have been eliminated.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (Business Combinations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.98 574.25 Td (--The Company allocates the purchase price of its acquisitions to the assets acquired, liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (assumed, and noncontrolling interests acquired based upon their respective fair values at the acquisition date. ) Tj ET Q q 0 0 0 rg BT 491.35 562.25 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (utilizes management estimates and inputs from an independent third-party valuation firm to assist in determining these fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (values. ) Tj ET Q q 0 0 0 rg BT 82.87 538.25 Td (The excess of the acquisition price over these estimated fair values is recorded as goodwill. Goodwill is adjusted for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (any changes to acquisition date fair value amounts made within the measurement period. ) Tj ET Q q 0 0 0 rg BT 409.61 526.25 Td (Acquisition-related transaction costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (are recognized separately from the business combination and expensed as incurred. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (Revenue Recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.05 490.25 Td (--Revenue is recognized when pervasive evidence of an arrangement exists, collectability is reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (assured, the price is fixed or determinable, and shipment or delivery has occurred. For product sales, the Company recognizes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (revenue once the transfer of ownership and risk of loss pass to the customer) Tj ET Q q 0 0 0 rg BT 352.57 466.25 Td (, which is generally when the products are shipped. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (Generally) Tj ET Q q 0 0 0 rg BT 88.77 442.25 Td (, the only post-shipment obligation on the Company) Tj ET Q q 0 0 0 rg BT 299.87 442.25 Td (s products include routine warranty obligations. In the event that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (significant post-shipment obligations were to exist for the Company) Tj ET Q q 0 0 0 rg BT 324.96 430.25 Td (s products, revenue recognition would be deferred until ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (substantially all obligations were satisfied. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (The Company records net sales revenues after discounts at the time of sale based on specific discount programs in ef) Tj ET Q q 0 0 0 rg BT 516.62 394.25 Td (fect, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (related historical data, and experience.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (Shipping and Handling Costs--) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.65 358.25 Td (Shipping and handling costs are recorded as a component of cost of sales. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (Research and Development Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.26 334.25 Td (--The Company) Tj ET Q q 0 0 0 rg BT 266.64 334.25 Td (s research and development activities are char) Tj ET Q q 0 0 0 rg BT 450.25 334.25 Td (ged to expense in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (period incurred. ) Tj ET Q q 0 0 0 rg BT 118.68 322.25 Td (The Company incurred expenses of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.62 322.25 Td ($21.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.51 322.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.29 322.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.29 322.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.29 322.25 Td ($18.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.18 322.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.96 322.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.96 322.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.90 322.25 Td ($19.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 310.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.67 310.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.67 310.25 Td ( related to research and development.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (Cash and Cash Equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.20 286.25 Td (--The Company considers cash on hand, demand deposits, and highly liquid investments with an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (original maturity date of three months or less to be cash and cash equivalents.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (Fair V) Tj ET Q q 0 0 0 rg BT 76.40 250.25 Td (alue of Financial Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.60 250.25 Td (--Financial ) Tj ET Q q 0 0 0 rg BT 246.42 250.25 Td (Accounting Standards Board \("F) Tj ET Q q 0 0 0 rg BT 376.68 250.25 Td (ASB"\) ) Tj ET Q q 0 0 0 rg BT 405.50 250.25 Td (Accounting Standards Codification ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (\("ASC"\) ) Tj ET Q q 0 0 0 rg BT 86.60 238.25 Td (T) Tj ET Q q 0 0 0 rg BT 92.01 238.25 Td (opic 820, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 131.72 238.25 Td (Fair V) Tj ET Q q 0 0 0 rg BT 157.00 238.25 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 206.90 238.25 Td (ements and Disclosur) Tj ET Q q 0 0 0 rg BT 293.19 238.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.52 238.25 Td (, provides guidance for defining, measuring, and disclosing fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (value within an established framework and hierarchy) Tj ET Q q 0 0 0 rg BT 261.49 226.25 Td (. Fair value is defined as the exchange price that would be received for an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (asset or paid to transfer a liability \(an exit price\) in the principal or most advantageous market for the asset or liability in an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (orderly transaction between market participants on the measurement date. ) Tj ET Q q 0 0 0 rg BT 349.98 202.25 Td (The standard established a fair value hierarchy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (which requires an entity to maximize the use of observable inputs and to minimize the use of unobservable inputs when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (measuring fair value. ) Tj ET Q q 0 0 0 rg BT 139.51 178.25 Td (The three levels of inputs that may be used to measure fair value within the hierarchy are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (Level 1 Quoted prices for identical assets and liabilities in active markets;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (Level 2 Quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (liabilities in markets that are not active, and model-derived valuations in which all significant inputs and significant value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (drivers are observablein active markets; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (Level 3 ) Tj ET Q q 0 0 0 rg BT 90.08 82.25 Td (V) Tj ET Q q 0 0 0 rg BT 96.20 82.25 Td (aluations derived from valuation techniques in which one or more significant inputs or significant value drivers are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (unobservable.) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (42) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Accounts Receivable, Earned Discounts, and ) Tj ET Q q 0 0 0 rg BT 237.13 742.25 Td (Allowance for Uncollectible ) Tj ET Q q 0 0 0 rg BT 354.25 742.25 Td (Accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.59 742.25 Td (--Accounts receivable are stated at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (estimated net realizable value. ) Tj ET Q q 0 0 0 rg BT 175.50 730.25 Td (Accounts receivable are comprised of balances due from customers, net of earned discounts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (estimated allowances for uncollectible accounts. Earned discounts are based on specific customer agreement terms. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (determining allowances for uncollectible accounts, historical collection experience, current trends, aging of accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (receivable, and periodic credit evaluations of customers) Tj ET Q q 0 0 0 rg BT 275.55 694.25 Td ( financial condition are reviewed.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.67 670.25 Td (-- Inventories are stated at the lower of cost or market. ) Tj ET Q q 0 0 0 rg BT 321.40 670.25 Td (The majority of the cost of domestic and foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (inventories is determined using the FIFO method with a portion of inventory costs determined using the average cost method. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (The Company reviews its inventories for excess or obsolete products or components based on an analysis of historical usage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (and management's evaluation of estimated future demand, market conditions, and alternative uses for possible excess or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (obsolete parts. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (Property) Tj ET Q q 0 0 0 rg BT 85.18 598.25 Td (, Plant, and Equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.03 598.25 Td (--Property) Tj ET Q q 0 0 0 rg BT 221.48 598.25 Td (, plant, and equipment are stated at historical cost.) Tj ET Q q 0 0 0 rg BT 426.51 598.25 Td (The Company capitalizes certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (computer software and software development costs incurred in connection with developing or obtaining computer software for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (internal use, which are included in property) Tj ET Q q 0 0 0 rg BT 223.46 574.25 Td (, plant, and equipment. Depreciation of plant and equipment is calculated on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (straight line basis over the following estimated useful lives:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 539.75 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 539.75 126.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 509.75 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 509.75 126.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 529.42 Td (Land improvement and buildings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.50 529.42 Td (10-40 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 514.42 Td (Machinery and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 514.42 Td (5-10 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 499.42 Td (Software) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 499.42 Td (3-7 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 484.42 Td (Furniture and fixtures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 484.42 Td (3-7 years) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 456.25 Td (Maintenance, repairs, and renewals of a minor nature are expensed as incurred. Betterments and major renewals which extend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.25 Td (the useful lives or add to the productive capacity of buildings, improvements, and equipment are capitalized. ) Tj ET Q q 0 0 0 rg BT 489.13 444.25 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.25 Td (reviews its property) Tj ET Q q 0 0 0 rg BT 128.77 432.25 Td (, plant, and equipment for impairment at the asset group level whenever events or changes in circumstances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.25 Td (indicate that the carrying amount of such assets may not be recoverable. If an indicator is present, the Company compares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.25 Td (carrying values to undiscounted future cash flows; if the undiscounted future cash flows are less than the carrying value, an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.25 Td (impairment would be recognized for the dif) Tj ET Q q 0 0 0 rg BT 224.20 396.25 Td (ference between the fair value and the carrying value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 372.25 Td (s depreciation expense was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.78 372.25 Td ($27.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.67 372.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.67 372.25 Td ($26.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.56 372.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 372.25 Td ($28.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.39 372.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.17 372.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.17 372.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.17 372.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.17 372.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.11 372.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.11 372.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 360.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 336.25 Td (Goodwill and Other Intangible ) Tj ET Q q 0 0 0 rg BT 179.10 336.25 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.66 336.25 Td (--Goodwill is tested at the reporting unit level, which the Company has determined to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.25 Td (the North ) Tj ET Q q 0 0 0 rg BT 90.00 324.25 Td (America ) Tj ET Q q 0 0 0 rg BT 126.74 324.25 Td (W) Tj ET Q q 0 0 0 rg BT 135.38 324.25 Td (ater Systems, International ) Tj ET Q q 0 0 0 rg BT 244.61 324.25 Td (W) Tj ET Q q 0 0 0 rg BT 253.25 324.25 Td (ater) Tj ET Q q 0 0 0 rg BT 267.83 324.25 Td (, and Fueling Systems units. In compliance with F) Tj ET Q q 0 0 0 rg BT 470.13 324.25 Td (ASB ) Tj ET Q q 0 0 0 rg BT 491.53 324.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 513.31 324.25 Td (T) Tj ET Q q 0 0 0 rg BT 518.72 324.25 Td (opic 350, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 312.25 Td (Intangibles - Goodwill and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.88 312.25 Td (, the Company has evaluated the aggregation criteria and determined that the individual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.25 Td (components within the North ) Tj ET Q q 0 0 0 rg BT 168.88 300.25 Td (America ) Tj ET Q q 0 0 0 rg BT 205.62 300.25 Td (W) Tj ET Q q 0 0 0 rg BT 214.26 300.25 Td (ater Systems and International ) Tj ET Q q 0 0 0 rg BT 337.93 300.25 Td (W) Tj ET Q q 0 0 0 rg BT 346.57 300.25 Td (ater reporting units, respectively) Tj ET Q q 0 0 0 rg BT 475.32 300.25 Td (, can be aggregated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 288.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.28 288.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.25 Td (In assessing the recoverability of goodwill, the Company determines the fair value of its reporting units by utilizing a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.25 Td (combination of both the income and market valuation approaches.) Tj ET Q q 0 0 0 rg BT 319.46 252.25 Td (The income approach estimates fair value based upon future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.25 Td (revenue, expenses, and cash flows discounted to present value. ) Tj ET Q q 0 0 0 rg BT 306.13 240.25 Td (The market valuation approach estimates fair value using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.25 Td (market multipliers of various financial measures compared to a set of comparable public companies. ) Tj ET Q q 0 0 0 rg BT 456.35 228.25 Td (The fair value calculated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.25 Td (for each reporting unit is considered a Level 3 measurement within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 413.10 216.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.25 Td (An indication of impairment exists if the carrying value of the reporting unit is higher than its fair value, as determined by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.25 Td (above approach. ) Tj ET Q q 0 0 0 rg BT 120.34 180.25 Td (The second step of testing as outlined in F) Tj ET Q q 0 0 0 rg BT 288.46 180.25 Td (ASB ) Tj ET Q q 0 0 0 rg BT 309.86 180.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 331.64 180.25 Td (T) Tj ET Q q 0 0 0 rg BT 337.05 180.25 Td (opic 350 must be performed to measure the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.25 Td (impairment loss. ) Tj ET Q q 0 0 0 rg BT 121.48 168.25 Td (The amount of impairment is determined by comparing the implied fair value of the reporting unit's goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.25 Td (to its carrying value in the same manner as if the reporting units were being acquired in a business combination.) Tj ET Q q 0 0 0 rg BT 502.47 156.25 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.25 Td (would allocate the fair value to all of the reporting unit's assets and liabilities, including any unrecognized intangible assets, in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.25 Td (hypothetical analysis that would calculate the implied fair value of goodwill.) Tj ET Q q 0 0 0 rg BT 361.67 132.25 Td (The Company would record an impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.25 Td (char) Tj ET Q q 0 0 0 rg BT 67.03 120.25 Td (ge for the dif) Tj ET Q q 0 0 0 rg BT 118.77 120.25 Td (ference between the implied fair value of goodwill and the recorded goodwill.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.25 Td (The Company currently tests goodwill for impairment on an annual basis using balances as of period 8, or more frequently as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.25 Td (warranted by triggering events that indicate potential impairment. Beginning in 2017, the Company will complete its annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.25 Td (goodwill impairment test during the fourth quarter) Tj ET Q q 0 0 0 rg BT 251.22 72.25 Td (, using balances as of October 1. ) Tj ET Q q 0 0 0 rg BT 386.00 72.25 Td (The change in goodwill impairment testing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.25 Td (date is deemed a change in accounting principle which management determined to be preferable. ) Tj ET Q q 0 0 0 rg BT 442.43 60.25 Td (The change was made to ) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (better align with the timing of the Company's annual and long-term planning processes, which are significant elements of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (testing. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (In connection with the change in date of the annual goodwill impairment test, the Company performed a qualitative assessment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (of goodwill as of October 1, 2016 to ensure that a period of greater than 12 months did not elapse between test dates. ) Tj ET Q q 0 0 0 rg BT 522.47 694.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Company did not recognize a goodwill impairment as a result of the qualitative assessment. ) Tj ET Q q 0 0 0 rg BT 421.40 682.10 Td (The change in annual goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (impairment testing dates did not delay) Tj ET Q q 0 0 0 rg BT 202.37 670.10 Td (, accelerate, or avoid a goodwill impairment char) Tj ET Q q 0 0 0 rg BT 398.50 670.10 Td (ge. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (The Company also tests indefinite lived intangible assets, primarily trade names, for impairment on an annual basis during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (fourth quarter of each year) Tj ET Q q 0 0 0 rg BT 156.21 634.10 Td (, or more frequently as warranted by triggering events that indicate potential impairment.In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (assessing the recoverability of the trade names, the Company determines the fair value using an income approach. ) Tj ET Q q 0 0 0 rg BT 510.78 622.10 Td (The income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (approach estimates fair value based upon future revenue and estimated royalty rates. ) Tj ET Q q 0 0 0 rg BT 392.46 610.10 Td (The fair value calculated for indefinite ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (lived intangible assets is considered a Level 3 measurement within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 411.72 598.10 Td (. ) Tj ET Q q 0 0 0 rg BT 418.67 598.10 Td (An indication of impairment exists ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (if the carrying value of the trade names is higher than the fair value. ) Tj ET Q q 0 0 0 rg BT 326.38 586.10 Td (The Company would record an impairment char) Tj ET Q q 0 0 0 rg BT 518.91 586.10 Td (ge for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 574.10 Td (ference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Amortization is recorded and calculated for other definite lived intangible assets on a basis that reflects cash flows over the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (estimated useful lives.) Tj ET Q q 0 0 0 rg BT 143.96 538.10 Td (The weighted average number of years over which each intangible class is amortized is as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 527.60 357.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 527.60 155.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 497.60 357.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 497.60 155.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 517.27 Td (Patents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.70 517.27 Td (17 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 502.27 Td (Technology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.70 502.27 Td (15 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 487.27 Td (Customer relationships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.00 487.27 Td (13-20 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 472.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 472.27 Td (5-8 years) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 444.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 444.10 Td (arranty Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 444.10 Td (--The Company provides warranties on most of its products. ) Tj ET Q q 0 0 0 rg BT 382.66 444.10 Td (The warranty terms vary but are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.10 Td (generally) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.70 432.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.70 432.10 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.48 432.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.03 432.10 Td ( yearsfrom date of manufacture or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.35 432.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.79 432.10 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.57 432.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.11 432.10 Td ( yearsfrom date of installation. Provisions for estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (expenses related to product warranty are made at the time products are sold or when specific warranty issues are identified. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (These estimates are established using historical information about the nature, frequency) Tj ET Q q 0 0 0 rg BT 400.07 408.10 Td (, and average cost of warranty claims. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (The Company actively studies trends of warranty claims and takes actions to improve product quality and minimize warranty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 80.92 384.10 Td (The Company believes that the warranty reserve is appropriate; however) Tj ET Q q 0 0 0 rg BT 371.25 384.10 Td (, actual claims incurred could dif) Tj ET Q q 0 0 0 rg BT 502.68 384.10 Td (fer from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.10 Td (original estimates, requiring adjustments to the reserve.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 348.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 88.80 348.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.13 348.10 Td (--Income taxes are accounted for in accordance with F) Tj ET Q q 0 0 0 rg BT 324.06 348.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 345.46 348.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 367.23 348.10 Td (T) Tj ET Q q 0 0 0 rg BT 372.64 348.10 Td (opic 740, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 412.36 348.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 448.93 348.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.70 348.10 Td (.Under this guidance, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.10 Td (deferred tax assets and liabilities are determined based on the dif) Tj ET Q q 0 0 0 rg BT 308.61 336.10 Td (ference between the financial statement and tax basis of assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.10 Td (and liabilities and net operating loss and credit carry forwards using enacted tax rates in ef) Tj ET Q q 0 0 0 rg BT 411.08 324.10 Td (fect for the year in which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 312.10 Td (ferences are expected to reverse. ) Tj ET Q q 0 0 0 rg BT 195.94 312.10 Td (V) Tj ET Q q 0 0 0 rg BT 202.05 312.10 Td (aluation allowances are established when necessary to reduce deferred tax assets to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.10 Td (amounts expected to be realized.) Tj ET Q q 0 0 0 rg BT 185.60 300.10 Td (The Company records a liability for uncertain tax positions by establishing a recognition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.10 Td (threshold and measurement attribute for recognition and measurement of a tax position taken or expected to be taken in a tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.10 Td (return.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (Defined Benefit Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.10 252.10 Td (--The Company makes its determination for pension, post retirement, and post employment benefit plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (liabilities based on management estimates and consultation with actuaries, incorporating estimates and assumptions of future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (plan service costs, future interest costs on projected benefit obligations, rates of compensation increases, employee turnover ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.10 Td (rates, anticipated mortality rates, expected investment returns on plan assets, asset allocation assumptions of plan assets, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.10 Td (other factors.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 180.10 Td (Earnings Per Common Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.53 180.10 Td (--Basic and diluted earnings per share are computed and disclosed in accordance with F) Tj ET Q q 0 0 0 rg BT 522.50 180.10 Td (ASB ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 71.77 168.10 Td (T) Tj ET Q q 0 0 0 rg BT 77.18 168.10 Td (opic 260, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 116.90 168.10 Td (Earnings Per Shar) Tj ET Q q 0 0 0 rg BT 191.53 168.10 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.97 168.10 Td (. ) Tj ET Q q 0 0 0 rg BT 203.29 168.10 Td (The Company utilizes the two-class method to compute earnings available to common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.10 Td (shareholders. Under the two-class method, earnings are adjusted by accretion amounts to redeemable noncontrolling interests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.10 Td (recorded at redemption value. ) Tj ET Q q 0 0 0 rg BT 174.21 144.10 Td (The adjustments represent dividend distributions, in substance, to the noncontrolling interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.10 Td (holder as the holders have contractual rights to receive an amount upon redemption other than the fair value of the applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 81.94 120.10 Td (As a result, earnings are adjusted to reflect this in substance distribution that is dif) Tj ET Q q 0 0 0 rg BT 409.74 120.10 Td (ferent from other common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.10 Td (shareholders. In addition, the Company allocates net earnings to each class of common stock and participating security as if all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.10 Td (of the net earnings for the period had been distributed. ) Tj ET Q q 0 0 0 rg BT 271.97 96.10 Td (The Company's participating securities consist of share-based payment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.10 Td (awards that contain a non-forfeitable right to receive dividends and therefore are considered to participate in undistributed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.10 Td (earnings with common shareholders. Basic earnings per common share excludes dilution and is calculated by dividing net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.10 Td (earnings allocated to common shares by the weighted-average number of common shares outstanding for the period. Diluted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.10 Td (earnings per common share is calculated by dividing net earnings allocable to common shares by the weighted-average number ) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (of common shares outstanding for the period, as adjusted for the potential dilutive ef) Tj ET Q q 0 0 0 rg BT 388.07 742.10 Td (fect of non-participating share-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (awards.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.74 706.10 Td (ranslation of Foreign Currency Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.61 706.10 Td (--All assets and liabilities of foreign subsidiaries in functional currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (other than the U.S. dollar are translated at year end exchange rates. ) Tj ET Q q 0 0 0 rg BT 322.11 694.10 Td (All revenue and expense accounts are translated at average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (rates in ef) Tj ET Q q 0 0 0 rg BT 89.24 682.10 Td (fect during the respective period. ) Tj ET Q q 0 0 0 rg BT 225.58 682.10 Td (Adjustments for translating longer term foreign currency assets and liabilities in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (U.S. dollars are included as a component of other comprehensive income. ) Tj ET Q q 0 0 0 rg BT 350.00 670.10 Td (T) Tj ET Q q 0 0 0 rg BT 355.76 670.10 Td (ransaction gains and losses that arise from shorter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (term exchange rate fluctuations are included in the Foreign exchange income/\(expense\)" line within the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (consolidated statements of income, as incurred.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Significant Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.07 622.10 Td (--The preparation of financial statements in conformity with accounting principles generally accepted in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (the United States requires management to make significant estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 421.94 610.10 Td (fect the reported amounts of assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (of expenses during the reporting periods. Significant estimates and assumptions by management af) Tj ET Q q 0 0 0 rg BT 447.50 586.10 Td (fect inventory valuation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (warranty) Tj ET Q q 0 0 0 rg BT 84.89 574.10 Td (, trade names and goodwill, income taxes, and pension and employee benefit obligations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Although the Company regularly assesses these estimates, actual results could materially dif) Tj ET Q q 0 0 0 rg BT 419.17 550.10 Td (fer) Tj ET Q q 0 0 0 rg BT 429.72 550.10 Td (. ) Tj ET Q q 0 0 0 rg BT 437.04 550.10 Td (The Company bases its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (2. ) Tj ET Q q 0 0 0 rg BT 59.45 514.10 Td (ACCOUNTING PRONOUNCEMENTS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Adoption of New ) Tj ET Q q 0 0 0 rg BT 121.58 502.10 Td (Accounting Standards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (In March 2016, the F) Tj ET Q q 0 0 0 rg BT 133.96 490.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 182.87 490.10 Td (ASU 2016-09, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 243.70 490.10 Td (Compensation - Stock Compensation \(T) Tj ET Q q 0 0 0 rg BT 402.22 490.10 Td (opic 718\): Impr) Tj ET Q q 0 0 0 rg BT 465.17 490.10 Td (ovements to Employee ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Shar) Tj ET Q q 0 0 0 rg BT 68.52 478.10 Td (e-Based Payment ) Tj ET Q q 0 0 0 rg BT 140.53 478.10 Td (Accounting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.07 478.10 Td (. ) Tj ET Q q 0 0 0 rg BT 193.39 478.10 Td (This standard simplifies several aspects of the accounting for employee share-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (payment transactions including the recognition of excess tax benefits and deficiencies, the classification of those excess tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (cover income taxes and still qualify for equity classification, and the classification of those taxes paid on the statement of cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 77.04 430.10 Td (This ) Tj ET Q q 0 0 0 rg BT 96.77 430.10 Td (ASU is ef) Tj ET Q q 0 0 0 rg BT 136.03 430.10 Td (fective for annual and interim periods beginning after December 15, 2016 with early adoption permitted.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (The Company early adopted ) Tj ET Q q 0 0 0 rg BT 165.52 406.10 Td (ASU 2016-09 during the second quarter ended July 2, 2016. ) Tj ET Q q 0 0 0 rg BT 411.13 406.10 Td (The primary impact of adoption was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (the recognition of excess tax benefits or deficiencies in the provision for income taxes rather than paid-in capital for all periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (in fiscal year 2016. Early adoption of the standard required adjustments as of January 3, 2016, the beginning of the annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (period that includes the interim period of adoption. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (The Company has elected to continue its current policy of estimating forfeitures rather than recognizing forfeitures when they ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (occur) Tj ET Q /GS0 gs q 4.72 0 0 10.09 71.93 331.94 cm /I26 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 76.94 310.10 Td (ASU 2016-09, excess income tax benefits from stock-based compensation arrangements are classified as cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (from operations, rather than as cash flows from financing activities. ) Tj ET Q q 0 0 0 rg BT 325.57 298.10 Td (The Company elected to apply the cash flow presentation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (requirements prospectively) Tj ET Q q 0 0 0 rg BT 157.92 286.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (The standard also clarifies that cash flows related to employee taxes paid by withheld shares should be classified as a financing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (activity) Tj ET Q q 0 0 0 rg BT 79.34 250.10 Td (. ) Tj ET Q q 0 0 0 rg BT 86.66 250.10 Td (This provision had no impact to the Company) Tj ET Q q 0 0 0 rg BT 269.60 250.10 Td (, because these cash flows have historically been presented as financing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (activities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 214.10 Td (April 2015, the F) Tj ET Q q 0 0 0 rg BT 128.42 214.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 177.32 214.10 Td (ASU 2015-03, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 238.16 214.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 257.23 214.10 Td (est - Imputation of Inter) Tj ET Q q 0 0 0 rg BT 352.40 214.10 Td (est \(Subtopic 835-30\): Simplifying the Pr) Tj ET Q q 0 0 0 rg BT 516.72 214.10 Td (esentation ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (of Debt Issuance Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.94 202.10 Td (, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (associated debt liability instead of a deferred asset. ) Tj ET Q q 0 0 0 rg BT 258.08 190.10 Td (The standard does not change the amortization of debt issuance costs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (which will continue to follow the existing accounting guidance. ) Tj ET Q q 0 0 0 rg BT 309.48 178.10 Td (The Company adopted ) Tj ET Q q 0 0 0 rg BT 402.52 178.10 Td (ASU 2015-03 during the first quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 75.83 166.10 Td (April 2, 2016. ) Tj ET Q q 0 0 0 rg BT 136.75 166.10 Td (The retrospective adoption of this ) Tj ET Q q 0 0 0 rg BT 273.66 166.10 Td (ASU required a total of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.28 166.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.17 166.10 Td ( of unamortized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (debt issuance costs as of year) Tj ET Q q 0 0 0 rg BT 167.26 154.10 Td (-end 2015 to be reclassified from "Other assets" and "Other current assets" to a direct deduction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (from "Long-term debt" in the Company's consolidated balance sheet as of January 2, 2016. In addition, there were no impacts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (to the Company's results of operations, retained earnings, or cash flows in the current or previous interim and annual reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (periods. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (Accounting Standards Issued But Not ) Tj ET Q q 0 0 0 rg BT 208.48 94.10 Td (Y) Tj ET Q q 0 0 0 rg BT 213.48 94.10 Td (et ) Tj ET Q q 0 0 0 rg BT 222.82 94.10 Td (Adopted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 143.96 82.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.87 82.10 Td (ASU 2016-02, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 253.70 82.10 Td (Leases \(T) Tj ET Q q 0 0 0 rg BT 291.40 82.10 Td (opic 842\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.44 82.10 Td (which supersedes existing guidance on accounting for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (leases found in ) Tj ET Q q 0 0 0 rg BT 111.93 70.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 133.71 70.10 Td (T) Tj ET Q q 0 0 0 rg BT 139.12 70.10 Td (opic 840. ) Tj ET Q q 0 0 0 rg BT 181.15 70.10 Td (This ) Tj ET Q q 0 0 0 rg BT 200.88 70.10 Td (ASU requires lessees to present right-of-use assets and lease liabilities on the balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (sheet for all leases with terms longer than 12 months. ) Tj ET Q q 0 0 0 rg BT 268.11 58.10 Td (The guidance is to be applied using a modified retrospective approach at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (the beginning of the earliest comparative period in the financial statements and is ef) Tj ET Q q 0 0 0 rg BT 384.98 46.10 Td (fective for interim and annual periods ) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (beginning after December 15, 2018 with early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 320.29 742.10 Td (The Company has begun the evaluation process for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (adoption of the ) Tj ET Q q 0 0 0 rg BT 112.49 730.10 Td (ASU, and anticipates that the majority of the Company) Tj ET Q q 0 0 0 rg BT 335.50 730.10 Td (s outstanding operating leases would be recognized as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (right-of-use assets and lease liabilities upon adoption, resulting in a significant impact to the Company) Tj ET Q q 0 0 0 rg BT 462.97 718.10 Td (s consolidated balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (sheets.) Tj ET Q q 0 0 0 rg BT 79.26 706.10 Td (The impact of this ) Tj ET Q q 0 0 0 rg BT 154.24 706.10 Td (ASU is non-cash in nature and will not af) Tj ET Q q 0 0 0 rg BT 320.14 706.10 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 394.01 706.10 Td (s cash position. ) Tj ET Q q 0 0 0 rg BT 460.21 706.10 Td (The impact to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 694.10 Td (s results of operations is still being evaluated. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (In May 2014, the F) Tj ET Q q 0 0 0 rg BT 126.20 670.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 175.10 670.10 Td (ASU 2014-09, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 235.93 670.10 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 278.59 670.10 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 408.25 670.10 Td (opic 606\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.29 670.10 Td (. ) Tj ET Q q 0 0 0 rg BT 453.24 670.10 Td (ASU 2014-09 outlines a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (current revenue recognition guidance. In March 2016, the F) Tj ET Q q 0 0 0 rg BT 290.56 646.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 339.46 646.10 Td (ASU 2016-08, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 400.30 646.10 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 442.96 646.10 Td (om Contracts with ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Customers \(T) Tj ET Q q 0 0 0 rg BT 103.26 634.10 Td (opic 606\): Principal versus ) Tj ET Q q 0 0 0 rg BT 215.28 634.10 Td (Agent Considerations \(Reporting Revenue Gr) Tj ET Q q 0 0 0 rg BT 397.65 634.10 Td (oss versus Net\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.20 634.10 Td (. ) Tj ET Q q 0 0 0 rg BT 465.15 634.10 Td (ASU 2016-08 clarifies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (the implementation guidance on principal versus agent considerations. In ) Tj ET Q q 0 0 0 rg BT 346.87 622.10 Td (April 2016, the F) Tj ET Q q 0 0 0 rg BT 415.01 622.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 463.91 622.10 Td (ASU 2016-10, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 524.75 622.10 Td (Revenue ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (fr) Tj ET Q q 0 0 0 rg BT 56.30 610.10 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 185.95 610.10 Td (opic 606\): Identifying Performance Obligations and Licensing. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.97 610.10 Td (ASU 2016-10 clarifies the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (implementation guidance on identifying performance obligations. ) Tj ET Q q 0 0 0 rg BT 317.52 598.10 Td (These ) Tj ET Q q 0 0 0 rg BT 343.35 598.10 Td (ASUs are ef) Tj ET Q q 0 0 0 rg BT 392.04 598.10 Td (fective for interim and annual reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (periods beginning after December 15, 2017. Entities have the option of using either a full retrospective or a modified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (retrospective approach to adopt these standards. ) Tj ET Q q 0 0 0 rg BT 246.42 574.10 Td (The Company will adopt ) Tj ET Q q 0 0 0 rg BT 348.07 574.10 Td (ASU 2014-09 beginning in the first quarter of 2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (using the modified retrospective approach. ) Tj ET Q q 0 0 0 rg BT 225.60 562.10 Td (The Company does not expect the adoption of this ) Tj ET Q q 0 0 0 rg BT 429.17 562.10 Td (ASU to have a material impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (on the Company) Tj ET Q q 0 0 0 rg BT 118.88 550.10 Td (s consolidated financial position, results of operations, or cash flows. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (3. ) Tj ET Q q 0 0 0 rg BT 59.45 526.10 Td (ACQUISITIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (In 2012, the Company acquired a controlling interest in Pioneer Pump Holdings, Inc. \("PPH"\). Pursuant to the terms of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (2012 stock purchase agreement, the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.54 502.10 Td (29.5 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.97 502.10 Td ( noncontrolling interest was recorded at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.03 502.10 Td ($22.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.92 502.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (accounted for as a share purchase liability) Tj ET Q q 0 0 0 rg BT 217.06 490.10 Td (. During the first quarter of 2015, the Company purchased the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.26 490.10 Td (29.5 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.68 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (of outstanding shares of PPH for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.32 478.10 Td ($20.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.21 478.10 Td (, increasing the Company's ownership in PPH to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.16 478.10 Td (100 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.09 478.10 Td (. ) Tj ET Q q 0 0 0 rg BT 487.41 478.10 Td (The purchase was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (considered the settlement of a financing obligation, and the resulting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.87 466.10 Td ($2.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.76 466.10 Td ( gain was recorded in the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (consolidated statements of income in the "Other income, net" line during the first quarter of 2015. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (During the third quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.58 430.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.58 430.10 Td (, the Company acquired controlling interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.09 430.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.09 430.10 Td ( entities in India in separate unrelated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (transactions. Neither of the acquisitions was individually material, and the combined purchase price paid was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td ($6.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.89 406.10 Td (. ) Tj ET Q q 0 0 0 rg BT 106.21 406.10 Td (The results of the two businesses from their respective dates of acquisition through January 3, 2015 were not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (material. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (In an agreement dated June 6, 2014, between the Company and Bombas Leao S.A. \("Bombas Leao"\), the Company acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (rights to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.56 358.10 Td (100 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.48 358.10 Td (of the outstanding shares of Bombas Leao for a cash purchase price of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.75 358.10 Td (BRL) Tj ET Q q 0 0 0 rg BT 497.83 358.10 Td ( 69.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 346.10 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.89 346.10 Td ($31.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.78 346.10 Td (at the then current exchange rate, subject to certain terms and conditions. ) Tj ET Q q 0 0 0 rg BT 434.43 346.10 Td (The Company also acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (debt and certain liabilities of Bombas Leao. ) Tj ET Q q 0 0 0 rg BT 226.99 334.10 Td (The Company funded the acquisition with cash on hand and short-term borrowings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (from the Company's revolving credit agreement.) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 2.50 0 0 10.09 50.00 307.94 cm /I27 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Bombas Leao,based in Monte ) Tj ET Q q 0 0 0 rg BT 173.87 298.10 Td (Azul Paulista, State of Sao Paulo, Brazil, designs, manufactures, and distributes submersible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (groundwater pumping equipment through manufacturing and distribution facilities.) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 2.50 0 0 10.09 50.00 271.94 cm /I28 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (The Bombas Leao intangible assets of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.96 262.10 Td ($23.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.85 262.10 Td (consist primarily of customer relationships, which will be amortized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (utilizing the straight line method over) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.30 250.10 Td (20 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.90 250.10 Td (, andtrade names, which are classified as indefinite lived assets and will not be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (amortized. ) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 2.50 0 0 10.09 50.00 223.94 cm /I29 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (The goodwill amount of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.43 214.10 Td ($3.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.32 214.10 Td (resulting from the Bombas Leao acquisition consists primarily of broadened product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 202.10 Td (ferings and expanded customer base. ) Tj ET Q q 0 0 0 rg BT 207.54 202.10 Td (All of the goodwill was recorded as part of the ) Tj ET Q q 0 0 0 rg BT 396.20 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 404.83 202.10 Td (ater Systems segment and is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (expected to be deductible for tax purposes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Preliminary goodwill increased by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.52 166.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.41 166.10 Td ( and current assets decreased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.91 166.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.80 166.10 Td (during 2015 due to working ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (capital adjustments. In addition, the Company paid an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.28 154.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.17 154.10 Td ( to the sellers of Bombas Leao during 2015 to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (satisfy amounts previously accrued per the original purchase agreement. ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 50.00 125.03 503.48 -9.09 re f /GS0 gs q 0 0 0 rg BT 50.00 118.10 Td (The final purchase price assigned to the major identifiable assets and liabilities for the Bombas Leao acquisition is as follows:) Tj ET Q endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (46) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 718.50 371.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 718.50 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 688.50 371.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 688.50 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 658.50 371.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 658.50 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 628.50 371.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 628.50 139.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 598.50 371.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 598.50 139.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 628.5 m 560.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 598.5 m 560.5 598.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 584.5 m 560.5 584.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 582.5 m 560.5 582.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 738.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 723.17 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 708.17 Td (Cash acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 708.17 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 693.17 Td (Current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 693.17 Td (13.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 678.17 Td (Property, plant, and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 678.17 Td (6.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 663.17 Td (Intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 663.17 Td (23.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 648.17 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 648.17 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 633.17 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 633.17 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 618.17 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 618.17 Td (51.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 603.17 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.80 603.22 Td (\(20.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 603.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 588.17 Td (Total consideration paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.00 588.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.15 588.17 Td (31.0) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 50.00 566.93 499.46 -9.09 re f /GS0 gs q 0 0 0 rg BT 50.00 560.00 Td (The fair values of the identifiable assets, property) Tj ET Q q 0 0 0 rg BT 247.61 560.00 Td (, plant, and equipment, and liabilities were final as of the second quarter of ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 50.00 554.93 513.87 -9.09 re f /GS0 gs q 0 0 0 rg BT 50.00 548.00 Td (2015. ) Tj ET Q q 0 0 0 rg BT 77.32 548.00 Td (The Company utilized management estimates and consultation with an independent third-party valuation firm to assist in ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 50.00 542.93 54.43 -9.09 re f /GS0 gs q 0 0 0 rg BT 50.00 536.00 Td (the valuation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 512.00 Td (The results of operations of Bombas Leao were included in the Company's consolidated statements of income from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 500.00 Td (acquisition date through the year ended January 3, 2015. ) Tj ET Q q 0 0 0 rg BT 280.86 500.00 Td (The dif) Tj ET Q q 0 0 0 rg BT 309.84 500.00 Td (ference between actual sales for the Company and proforma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 488.00 Td (sales including Bombas Leao as if it was acquired at the beginning of the year was not material as a component of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 476.00 Td (Company's consolidated sales for the year ended January 3, 2015. Due to the immaterial nature of the acquisition, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 464.00 Td (Company has not included full year proforma statements of income for the acquisition year) Tj ET Q q 0 0 0 rg BT 414.62 464.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 440.00 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 440.00 Td (ransaction costs for all acquisition related activity were expensed as incurred under the guidance of F) Tj ET Q q 0 0 0 rg BT 459.59 440.00 Td (ASB ) Tj ET Q q 0 0 0 rg BT 480.99 440.00 Td (ASC ) Tj ET Q q 0 0 0 rg BT 502.76 440.00 Td (T) Tj ET Q q 0 0 0 rg BT 508.17 440.00 Td (opic 805, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 428.00 Td (Business Combinations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.12 428.00 Td (T) Tj ET Q q 0 0 0 rg BT 156.88 428.00 Td (ransaction costs included in selling, general, and administrative expense in the Company) Tj ET Q q 0 0 0 rg BT 514.28 428.00 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 416.00 Td (consolidated statements of income were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.45 416.00 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.34 416.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.34 416.00 Td ($0.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.23 416.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.17 416.00 Td ($2.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.06 416.00 Td ( for the fiscal years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.57 416.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.57 416.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.57 416.00 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.57 416.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 404.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 404.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 122.66 404.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 380.00 Td (4. F) Tj ET Q q 0 0 0 rg BT 65.37 380.00 Td (AIR ) Tj ET Q q 0 0 0 rg BT 86.02 380.00 Td (V) Tj ET Q q 0 0 0 rg BT 91.95 380.00 Td (ALUE MEASUREMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 368.00 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 368.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 368.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.47 368.00 Td (January2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.06 368.00 Td (, the assets measured at fair value on a recurring basis were as set forth in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 356.00 Td (table below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 89.50 288.50 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 288.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 288.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 288.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 288.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 288.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 288.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 288.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 288.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 288.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 89.50 213.50 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 213.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 213.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 213.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 213.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 213.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 213.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 213.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 213.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 213.50 4.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 288.5 m 265.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 288.5 m 349.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 288.5 m 433.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 288.5 m 517.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 288.5 m 521.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 288.5 m 265.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 288.5 m 349.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 288.5 m 433.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 288.5 m 517.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 213.5 m 265.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 213.5 m 349.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 213.5 m 433.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 213.5 m 517.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 213.5 m 521.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 213.5 m 265.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 213.5 m 349.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 213.5 m 433.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 213.5 m 517.5 213.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 323.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 313.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 303.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 293.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.95 303.17 Td (December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.00 293.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.65 323.17 Td (Quoted Prices in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.00 313.17 Td (Active Markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.40 303.17 Td (for Identical) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.20 293.17 Td (Assets \(Level 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.40 313.17 Td (Significant Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.45 303.17 Td (Observable Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 293.17 Td (\(Level 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.05 313.17 Td (Significant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.20 303.17 Td (Unobservable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.75 293.17 Td (Inputs \(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 278.17 Td (Cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.00 278.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 278.17 Td (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 278.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 278.17 Td (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 278.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 278.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 278.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.65 278.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.20 218.17 Td (January 2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.65 248.17 Td (Quoted Prices in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.00 238.17 Td (Active Markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.40 228.17 Td (for Identical) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.20 218.17 Td (Assets \(Level 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.40 238.17 Td (Significant Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.45 228.17 Td (Observable Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 218.17 Td (\(Level 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.05 238.17 Td (Significant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.20 228.17 Td (Unobservable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.75 218.17 Td (Inputs \(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 203.17 Td (Cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.00 203.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 203.17 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 203.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 203.17 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 203.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 203.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 203.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.65 203.17 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.00 Td (The Company's Level 1 assets consist of cash equivalents which are generally comprised of foreign bank guaranteed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.00 Td (certificates of deposit. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.00 Td (The Company has no assets measured on a recurring basis classified as Level 2 or Level 3. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.00 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 115.00 Td (otal debt, including current maturities, have carrying amounts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.61 115.00 Td ($190.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 115.00 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.72 115.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.30 115.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.74 115.00 Td ($220.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.63 115.00 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.00 Td (January2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.60 103.00 Td (.) Tj ET Q q 0 0 0 rg BT 120.92 103.00 Td (The estimated fair value of all debt was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.41 103.00 Td ($195 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.80 103.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.24 103.00 Td ($225 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.63 103.00 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.85 103.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.43 103.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.87 103.00 Td (January2, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 91.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 122.66 91.00 Td (. In the absence of quoted prices in active markets, considerable judgment is required in developing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.00 Td (estimates of fair value. Estimates are not necessarily indicative of the amounts the Company could realize in a current market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.00 Td (transaction.In determining the fair value of its debt, the Company uses estimates based on rates currently available to the ) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Company for debt with similar terms and remaining maturities.) Tj ET Q q 0 0 0 rg BT 307.45 742.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 356.79 742.10 Td (, the fair value of debt is classified as Level 2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (within the valuation hierarchy) Tj ET Q q 0 0 0 rg BT 169.59 730.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 706.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 706.10 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.07 706.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.07 706.10 Td ( assets held for sale. ) Tj ET Q q 0 0 0 rg BT 325.77 706.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.21 706.10 Td (January2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.81 706.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.81 706.10 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.71 706.10 Td ( of assets were held for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (sale, recorded at carrying value in the ) Tj ET Q q 0 0 0 rg BT 202.52 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 211.16 694.10 Td (ater Systems segment relating to an idle facility in Brazil. ) Tj ET Q q 0 0 0 rg BT 445.92 694.10 Td (The sale of the facility in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Brazil was completed during 2016. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (5. FINANCIAL) Tj ET Q q 0 0 0 rg BT 116.12 658.10 Td ( INSTRUMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 646.10 Td (s deferred compensation stock program is subject to variable plan accounting and, accordingly) Tj ET Q q 0 0 0 rg BT 486.99 646.10 Td (, is adjusted for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (changes in the Company) Tj ET Q q 0 0 0 rg BT 151.37 634.10 Td (s stock price at the end of each reporting period. ) Tj ET Q q 0 0 0 rg BT 348.89 634.10 Td (The Company has entered into share swap ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (transaction agreements \("the swap"\) to mitigate the Company) Tj ET Q q 0 0 0 rg BT 298.93 622.10 Td (s exposure to these fluctuations in the Company's stock price. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (The swap has not been designated as a hedge for accounting purposes and is cancellable with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.43 610.10 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.43 610.10 Td ( days written notice by either ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (party) Tj ET Q q 0 0 0 rg BT 69.90 598.10 Td (. ) Tj ET Q q 0 0 0 rg BT 76.85 598.10 Td (As of December 31, 2016, the swap has a notional value based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.61 598.10 Td (205,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.11 598.10 Td ( shares. For the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.18 598.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 586.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 586.10 Td (January2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.60 586.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.54 586.10 Td (January3, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.14 586.10 Td (, the swap resulted in a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.82 586.10 Td ($2.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.71 586.10 Td (, and losses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.88 586.10 Td ($2.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.77 586.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.21 586.10 Td ($0.8 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 574.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.55 574.10 Td (. Gains/losses resulting from the swap were primarily of) Tj ET Q q 0 0 0 rg BT 358.54 574.10 Td (fset by losses/gains on the fair value of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (deferred compensation stock liability) Tj ET Q q 0 0 0 rg BT 197.92 562.10 Td (. ) Tj ET Q q 0 0 0 rg BT 204.86 562.10 Td (All gains or losses and expenses related to the swap are recorded in the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (consolidated statements of income within the Selling, general, and administrative expenses line. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (6. OTHER ) Tj ET Q q 0 0 0 rg BT 98.07 526.10 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (The Company has equity interests in various companies for strategic purposes. ) Tj ET Q q 0 0 0 rg BT 369.47 514.10 Td (The investments are accounted for under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (equity method and are included in Other assets on the Company) Tj ET Q q 0 0 0 rg BT 317.71 502.10 Td (s consolidated balance sheet. ) Tj ET Q q 0 0 0 rg BT 438.04 502.10 Td (The carrying amount of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (investments is adjusted for the Company's proportionate share of earnings, losses, and dividends. ) Tj ET Q q 0 0 0 rg BT 442.94 490.10 Td (The investments are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (considered material to the Company) Tj ET Q q 0 0 0 rg BT 197.73 478.10 Td (s financial position, neither individually nor in the aggregate. ) Tj ET Q q 0 0 0 rg BT 446.93 478.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 506.65 478.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (proportionate share of earnings from its equity interests, included in the "Other income, net" line of the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (consolidated statements of income, were immaterial for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.61 454.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.20 454.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.20 454.10 Td (January2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.80 454.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.74 454.10 Td (January3, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 442.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (7. GOODWILL) Tj ET Q q 0 0 0 rg BT 117.24 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 119.18 418.10 Td (AND OTHER INT) Tj ET Q q 0 0 0 rg BT 199.01 418.10 Td (ANGIBLE ) Tj ET Q q 0 0 0 rg BT 247.08 418.10 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (The carrying amounts of the Company) Tj ET Q q 0 0 0 rg BT 207.46 406.10 Td (s intangible assets are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 318.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 318.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 318.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 318.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 318.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 288.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 288.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 288.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 288.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 288.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 288.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 288.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 288.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 288.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 258.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 258.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 258.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 258.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 258.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 258.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 258.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 258.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 258.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 228.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 228.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 228.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 228.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 228.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 228.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 228.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 228.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 228.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 368.6 m 339.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 368.6 m 343.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 368.6 m 413.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 368.6 m 487.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 368.6 m 491.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 368.6 m 561.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 333.6 m 339.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 333.6 m 413.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 333.6 m 487.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 333.6 m 561.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 258.6 m 339.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 258.6 m 413.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 258.6 m 487.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 258.6 m 561.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 258.6 m 339.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 244.60000000000002 m 339.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 242.60000000000002 m 339.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 258.6 m 413.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 244.60000000000002 m 413.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 242.60000000000002 m 413.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 258.6 m 487.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 244.60000000000002 m 487.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 242.60000000000002 m 487.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 258.6 m 561.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 244.60000000000002 m 561.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 242.60000000000002 m 561.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 213.60000000000002 m 339.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 213.60000000000002 m 413.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 213.60000000000002 m 487.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 213.60000000000002 m 561.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 213.60000000000002 m 339.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 199.60000000000002 m 339.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 197.60000000000002 m 339.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 213.60000000000002 m 413.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 199.60000000000002 m 413.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 197.60000000000002 m 413.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 213.60000000000002 m 487.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 199.60000000000002 m 487.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 197.60000000000002 m 487.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 213.60000000000002 m 561.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 199.60000000000002 m 561.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 197.60000000000002 m 561.5 197.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 373.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.00 373.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 373.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 338.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.30 348.27 Td (Gross Carrying) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.60 338.27 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.30 348.27 Td (Accumulated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.30 338.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 348.27 Td (Gross Carrying) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.60 338.27 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.30 348.27 Td (Accumulated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.30 338.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 323.27 Td (Amortized intangibles:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.00 323.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.00 323.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 323.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 323.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 308.27 Td (Patents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 308.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 308.27 Td (7.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 308.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 308.32 Td (\(6.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 308.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 308.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 308.27 Td (7.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 308.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 308.32 Td (\(6.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 308.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 293.27 Td (Technology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 293.27 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 293.32 Td (\(5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 293.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 293.27 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 293.32 Td (\(4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 293.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 278.27 Td (Customer relationships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 278.27 Td (133.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 278.32 Td (\(49.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 278.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 278.27 Td (132.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 278.32 Td (\(42.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 278.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 263.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 263.27 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 263.32 Td (\(2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 263.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 263.27 Td (3.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 263.32 Td (\(2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 263.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 248.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 248.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 248.27 Td (151.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 248.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 248.32 Td (\(63.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 248.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 248.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 248.27 Td (151.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 248.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 248.32 Td (\(56.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 248.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 233.27 Td (Unamortized intangibles:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 218.27 Td (Trade names) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 218.27 Td (47.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 218.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 218.27 Td (46.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 218.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 203.27 Td (Total intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 203.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 203.27 Td (198.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 203.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 203.32 Td (\(63.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 203.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 203.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 203.27 Td (197.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 203.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 203.32 Td (\(56.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 203.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.10 Td (Amortization expense related to intangible assets for fiscal years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.74 175.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.74 175.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.74 175.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.74 175.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.68 175.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.68 175.10 Td (, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.73 175.10 Td ($8.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.62 175.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.62 175.10 Td ($8.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.52 175.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.10 Td ($9.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.89 163.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 151.55 163.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.10 Td (Amortization expense for each of the five succeeding years is projected as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 101.60 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 191.50 101.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.50 101.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 101.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 101.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 101.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 101.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 101.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 101.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 101.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 101.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195.5 101.60000000000002 m 265.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 101.60000000000002 m 339.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 101.60000000000002 m 343.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 101.60000000000002 m 413.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 101.60000000000002 m 487.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 101.60000000000002 m 561.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195.5 101.60000000000002 m 265.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 101.60000000000002 m 339.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 101.60000000000002 m 413.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 101.60000000000002 m 487.5 101.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 101.60000000000002 m 561.5 101.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 106.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.00 106.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 106.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 106.27 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 106.27 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 106.27 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.00 91.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 91.27 Td (8.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 91.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 91.27 Td (8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 91.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 91.27 Td (8.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 91.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 91.27 Td (8.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 91.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 91.27 Td (7.7) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The change in the carrying amount of goodwill by reporting segment for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.70 742.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.70 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.13 742.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.13 742.10 Td (, is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 689.60 251.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 689.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 689.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 689.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 689.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 689.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 689.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 659.60 251.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 659.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 659.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 659.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 659.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 659.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 659.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 629.60 251.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 629.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 629.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 629.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 629.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 629.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 629.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 599.60 251.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 599.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 599.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 599.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 599.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 599.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 599.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 569.60 251.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 569.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 569.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 569.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 569.60 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 569.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 569.60 83.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 704.6 m 387.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 704.6 m 391.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 704.6 m 474.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 704.6 m 478.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 704.6 m 561.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 689.6 m 387.5 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 689.6 m 474.5 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 689.6 m 561.5 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 689.6 m 387.5 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 689.6 m 474.5 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 689.6 m 561.5 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 644.6 m 387.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 644.6 m 474.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 644.6 m 561.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 569.6 m 387.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 555.6 m 387.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 553.6 m 387.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 569.6 m 474.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 555.6 m 474.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 553.6 m 474.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 569.6 m 561.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 555.6 m 561.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 553.6 m 561.5 553.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 709.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.75 694.27 Td (Water Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.30 694.27 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 694.27 Td (Consolidated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 679.28 Td (Balance as of January 3, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.00 679.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.15 679.28 Td (145.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.00 679.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 679.28 Td (63.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.00 679.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.15 679.28 Td (208.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 664.27 Td (Adjustments to prior year acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 664.32 Td (\(0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.65 664.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 664.32 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 664.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 664.32 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 664.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 649.27 Td (Foreign currency translation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 649.32 Td (\(7.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.65 649.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 649.32 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 649.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 649.32 Td (\(7.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 649.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 619.28 Td (Balance as of January 2, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.00 619.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.15 619.28 Td (136.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.00 619.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 619.28 Td (63.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.00 619.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.15 619.28 Td (199.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 589.27 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.65 589.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 589.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 589.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 574.27 Td (Foreign currency translation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.80 574.32 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.65 574.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 574.32 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 574.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 574.32 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 574.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 559.28 Td (Balance as of December 31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.00 559.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.15 559.28 Td (136.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.00 559.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 559.28 Td (63.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.00 559.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.15 559.28 Td (199.6) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 531.10 Td (8. EMPLOYEE BENEFIT) Tj ET Q q 0 0 0 rg BT 163.45 531.10 Td ( PLANS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 519.10 Td (Defined Benefit Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.10 519.10 Td ( - ) Tj ET Q q 0 0 0 rg BT 148.88 519.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.33 519.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.91 519.10 Td (, the Company maintained ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.94 519.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.94 519.10 Td ( domestic pension plans and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.20 519.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.19 519.10 Td ( German ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 507.10 Td (pension plans. ) Tj ET Q q 0 0 0 rg BT 112.04 507.10 Td (The Company used a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.24 507.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.82 507.10 Td ( measurement date for these plans. One of the Company) Tj ET Q q 0 0 0 rg BT 507.48 507.10 Td (s domestic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 495.10 Td (pension plans covers two management employees \(one active employee and one former employee\), while the other domestic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 483.10 Td (plan covers all other eligible employees \(plan was frozen as of December 31, 201) Tj ET Q q 0 0 0 rg BT 375.62 483.10 Td (1\). ) Tj ET Q q 0 0 0 rg BT 391.27 483.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.32 483.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.32 483.10 Td ( domestic and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.36 483.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.34 483.10 Td ( German plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 471.10 Td (collectively comprise the Pension Benefits) Tj ET Q q 0 0 0 rg BT 226.43 471.10 Td ( disclosure caption. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 447.10 Td (Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.28 447.10 Td ( - ) Tj ET Q q 0 0 0 rg BT 118.43 447.10 Td (The Company also maintains a postretirement benefit plan to provide health and life insurance benefits to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 435.10 Td (employees hired prior to 1992. ) Tj ET Q q 0 0 0 rg BT 177.85 435.10 Td (The Company ef) Tj ET Q q 0 0 0 rg BT 244.87 435.10 Td (fectively capped its cost for those benefits through plan amendments made in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 423.10 Td (1992, freezing Company contributions for insurance benefits at 1991 levels for current and future beneficiaries with actuarially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 411.10 Td (reduced benefits for employees who retire before age ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.45 411.10 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.45 411.10 Td (. ) Tj ET Q q 0 0 0 rg BT 282.77 411.10 Td (The disclosures surrounding this plan are reflected in the "Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 399.10 Td (Benefits" caption.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.10 Td (The following table sets forth aggregated information related to the Company) Tj ET Q q 0 0 0 rg BT 363.24 375.10 Td (s pension benefits and other postretirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.10 Td (benefits, including changes in the benefit obligations, changes in plan assets, funded status, amounts recognized in the balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 351.10 Td (sheet, amounts recognized in accumulated other comprehensive income, and actuarial assumptions that the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 339.10 Td (considered in its determination of benefit obligations and plan costs. Benefit obligation balances presented below reflect the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 327.10 Td (projected benefit obligation \(PBO\) for the Company's pension plans, and accumulated postretirement benefit obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.10 Td (\(APBO\) for the Company's other benefit plans.) 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 213.50 216.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 213.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 213.50 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 213.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 213.50 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 213.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 213.50 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 213.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 213.50 70.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 733.5 m 339.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 733.5 m 343.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 733.5 m 413.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 733.5 m 487.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 733.5 m 491.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 733.5 m 561.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 733.5 m 339.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 718.5 m 339.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 733.5 m 413.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 718.5 m 413.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 733.5 m 487.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 718.5 m 487.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 733.5 m 561.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 718.5 m 561.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 718.5 m 339.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 704.5 m 339.5 704.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 702.5 m 339.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 718.5 m 413.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 704.5 m 413.5 704.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 702.5 m 413.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 718.5 m 487.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 704.5 m 487.5 704.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 702.5 m 487.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 718.5 m 561.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 704.5 m 561.5 704.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 702.5 m 561.5 702.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 553.5 m 339.5 553.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 553.5 m 413.5 553.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 553.5 m 487.5 553.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 553.5 m 561.5 553.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 539.5 m 339.5 539.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 537.5 m 339.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 539.5 m 413.5 539.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 537.5 m 413.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 539.5 m 487.5 539.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 537.5 m 487.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 539.5 m 561.5 539.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 537.5 m 561.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 418.5 m 339.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 418.5 m 413.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 418.5 m 487.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 418.5 m 561.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 404.5 m 339.5 404.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 402.5 m 339.5 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 404.5 m 413.5 404.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 402.5 m 413.5 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 404.5 m 487.5 404.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 402.5 m 487.5 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 404.5 m 561.5 404.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 402.5 m 561.5 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 374.5 m 339.5 374.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 372.5 m 339.5 372.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 374.5 m 413.5 374.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 372.5 m 413.5 372.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 374.5 m 487.5 374.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 372.5 m 487.5 372.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 374.5 m 561.5 374.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 372.5 m 561.5 372.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 313.5 m 339.5 313.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 313.5 m 413.5 313.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 313.5 m 487.5 313.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 313.5 m 561.5 313.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 299.5 m 339.5 299.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 297.5 m 339.5 297.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 299.5 m 413.5 299.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 297.5 m 413.5 297.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 299.5 m 487.5 299.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 297.5 m 487.5 297.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 299.5 m 561.5 299.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 297.5 m 561.5 297.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 213.5 m 339.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 213.5 m 413.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 213.5 m 487.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 213.5 m 561.5 213.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 189.5 m 339.5 189.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 187.5 m 339.5 187.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 189.5 m 413.5 189.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 187.5 m 413.5 187.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 189.5 m 487.5 189.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 187.5 m 487.5 187.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 189.5 m 561.5 189.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 187.5 m 561.5 187.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 738.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.25 738.17 Td (Pension Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.70 738.17 Td (Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 723.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 723.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 723.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 723.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 723.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 708.17 Td (Accumulated benefit obligation, end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 708.17 Td (177.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 708.17 Td (182.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 708.17 Td (10.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 708.17 Td (11.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 678.17 Td (Change in benefit obligation:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.00 678.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.00 678.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 678.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 678.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 663.17 Td (Benefit obligation, beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 663.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 663.17 Td (186.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 663.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 663.17 Td (209.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 663.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 663.17 Td (11.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 663.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 663.17 Td (13.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 648.17 Td (Service cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 648.17 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 648.17 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 648.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 648.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 633.17 Td (Interest cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 633.17 Td (6.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 633.17 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 633.17 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 633.17 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 618.17 Td (Actuarial \(gain\)/loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 618.17 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 618.22 Td (\(12.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 618.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 618.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 618.22 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 618.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 603.17 Td (Settlements paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 603.22 Td (\(0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 603.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 603.22 Td (\(0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 603.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 603.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 603.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 588.17 Td (Benefits paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 588.22 Td (\(15.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 588.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 588.22 Td (\(14.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 588.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 588.22 Td (\(1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 588.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 588.22 Td (\(1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 588.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 573.17 Td (Curtailment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 573.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 573.22 Td (\(1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 573.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 573.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 573.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 558.17 Td (Foreign currency exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 558.22 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 558.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 558.22 Td (\(2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 558.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 558.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 558.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 543.17 Td (Benefit obligation, end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 543.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 543.17 Td (181.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 543.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 543.17 Td (186.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 543.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 543.17 Td (10.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 543.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 543.17 Td (11.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 513.17 Td (Change in plan assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 513.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 513.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 513.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 513.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 498.17 Td (Fair value of assets, beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 498.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 498.17 Td (147.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 498.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 498.17 Td (160.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 498.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 498.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 498.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 498.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 483.17 Td (Actual return on plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 483.17 Td (9.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 483.22 Td (\(4.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 483.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 483.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 483.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 468.17 Td (Company contributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 468.17 Td (5.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 468.17 Td (6.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 468.17 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 468.17 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 453.17 Td (Settlements paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 453.22 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 453.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 453.22 Td (\(0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 453.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 453.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 453.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 438.17 Td (Benefits paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 438.22 Td (\(15.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 438.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 438.22 Td (\(14.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 438.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 438.22 Td (\(1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 438.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 438.22 Td (\(1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 438.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 423.17 Td (Foreign currency exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 423.22 Td (\(0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 423.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 423.22 Td (\(0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 423.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 423.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 423.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 408.17 Td (Plan assets, end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 408.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 408.17 Td (146.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 408.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 408.17 Td (147.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 408.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 408.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 408.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 408.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 378.17 Td (Funded status) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 378.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 378.22 Td (\(35.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 378.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 378.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 378.22 Td (\(39.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 378.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 378.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 378.22 Td (\(10.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 378.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 378.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 378.22 Td (\(11.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 378.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 348.17 Td (Amounts recognized in balance sheet:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.00 348.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.00 348.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 348.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 348.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 333.17 Td (Current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 333.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 333.22 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 333.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 333.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 333.22 Td (\(3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 333.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 333.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 333.22 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 333.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 333.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 333.22 Td (\(1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 333.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 318.17 Td (Noncurrent liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 318.22 Td (\(34.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 318.22 Td (\(36.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 318.22 Td (\(9.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 318.22 Td (\(10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 303.17 Td (Net liability, end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 303.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 303.22 Td (\(35.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 303.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 303.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 303.22 Td (\(39.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 303.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 303.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 303.22 Td (\(10.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 303.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 303.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 303.22 Td (\(11.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 303.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 273.17 Td (Amount recognized in accumulated other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 263.17 Td (comprehensive income/\(loss\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.00 263.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.00 263.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 263.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 263.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 248.17 Td (Prior service cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 248.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 248.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 248.17 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 248.17 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 233.17 Td (Net actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 233.17 Td (48.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 233.17 Td (48.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 233.17 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 233.17 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 218.17 Td (Settlement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 218.17 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 218.17 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 218.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 218.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 203.17 Td (Total recognized in accumulated other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 193.17 Td (comprehensive income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 193.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 193.17 Td (50.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 193.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 193.17 Td (50.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 193.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 193.17 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 193.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 193.17 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The following table sets forth other changes in plan assets and benefit obligation recognized in other comprehensive income for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.44 730.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.44 730.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 677.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 677.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 677.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 677.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 677.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 677.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 677.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 677.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 677.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 647.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 647.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 647.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 647.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 647.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 647.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 617.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 617.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 617.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 617.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 617.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 617.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 587.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 587.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 587.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 587.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 587.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 587.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 692.6 m 339.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 692.6 m 343.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 692.6 m 413.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 692.6 m 487.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 692.6 m 491.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 692.6 m 561.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 692.6 m 339.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 677.6 m 339.5 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 692.6 m 413.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 677.6 m 413.5 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 692.6 m 487.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 677.6 m 487.5 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 692.6 m 561.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 677.6 m 561.5 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 677.6 m 339.5 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 677.6 m 413.5 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 572.6 m 339.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 572.6 m 413.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 572.6 m 487.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 572.6 m 561.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 558.6 m 339.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 556.6 m 339.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 558.6 m 413.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 556.6 m 413.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 558.6 m 487.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 556.6 m 487.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 558.6 m 561.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 556.6 m 561.5 556.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 697.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.25 697.27 Td (Pension Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.70 697.27 Td (Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 682.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 682.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 682.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 682.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 682.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 667.27 Td (Net actuarial \(gain\)/loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 667.27 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 667.32 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 667.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 667.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 667.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 667.32 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 667.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 652.27 Td (Amortization of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.00 652.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.00 652.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 652.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 652.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 637.27 Td (Net actuarial gain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 637.32 Td (\(2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 637.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 637.32 Td (\(2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 637.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 637.32 Td (\(0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 637.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 637.32 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 637.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 622.27 Td (Prior service credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 622.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 622.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 622.32 Td (\(0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 622.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 622.32 Td (\(0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 622.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 607.27 Td (Settlement recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 607.32 Td (\(1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 607.32 Td (\(2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 607.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 607.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 592.27 Td (Deferred tax asset) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 592.27 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 592.27 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 592.27 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 592.27 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 577.27 Td (Foreign currency exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 577.32 Td (\(0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 577.32 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 577.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 577.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 562.27 Td (Total recognized in other comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 562.27 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 562.32 Td (\(3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 562.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 562.32 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 562.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 562.32 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 562.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 534.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 534.10 Td (eighted-average assumptions used to determine domestic benefit obligations:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 481.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 481.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 481.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 481.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 481.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 496.6 m 340.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 496.6 m 344.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 496.6 m 414.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 496.6 m 488.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 496.6 m 492.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 496.6 m 562.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 496.6 m 340.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 481.6 m 340.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 496.6 m 414.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 481.6 m 414.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 496.6 m 488.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 481.6 m 488.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 496.6 m 562.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 481.6 m 562.5 481.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 501.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.25 501.27 Td (Pension Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.70 501.27 Td (Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 486.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 486.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 486.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 486.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 486.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 471.27 Td (Discount rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.15 471.27 Td (4.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.65 471.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 471.27 Td (4.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 471.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 471.27 Td (3.89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 471.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 471.27 Td (4.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 471.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 446.27 Td (Rate of increase in future compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 446.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.65 446.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.50 451.77 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 446.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 446.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.50 451.77 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.30 456.27 Td (3.00 - 8.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.90 446.27 Td (\(Graded\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.30 456.27 Td (3.00 - 8.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.90 446.27 Td (\(Graded\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (*No rate of increases in future compensation used within assumptions for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.88 418.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.88 418.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.31 418.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.31 418.10 Td (, as the cash balance component of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (domestic Pension Plan was frozen and the other domestic Pension Plan components do not base benefits on compensation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Assumptions used to determine domestic periodic benefit cost:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 329.60 114.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.50 329.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 329.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 329.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.50 329.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 329.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 329.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 329.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.50 329.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 329.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 329.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 329.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 329.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 289.60 114.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.50 289.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 289.60 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 289.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.50 289.60 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 289.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 289.60 52.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 289.60 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.50 289.60 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 289.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 289.60 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 289.60 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 289.60 70.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 167.5 344.6 m 221.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 344.6 m 225.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 344.6 m 281.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 344.6 m 285.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 344.6 m 337.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 344.6 m 412.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 344.6 m 416.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 344.6 m 486.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 344.6 m 491.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 344.6 m 561.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 167.5 344.6 m 221.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 167.5 329.6 m 221.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 344.6 m 281.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 329.6 m 281.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 344.6 m 337.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 329.6 m 337.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 344.6 m 412.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 329.6 m 412.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 344.6 m 486.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 329.6 m 486.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 344.6 m 561.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 329.6 m 561.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 329.6 m 337.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 329.6 m 561.5 329.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 349.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.25 349.27 Td (Pension Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.20 349.27 Td (Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 334.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.00 334.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 334.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 334.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.00 334.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 334.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 334.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 319.27 Td (Discount rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.15 319.27 Td (4.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.65 319.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.15 319.27 Td (4.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 319.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 319.27 Td (4.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 319.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 319.27 Td (4.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 319.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 319.27 Td (3.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 319.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 319.27 Td (4.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 319.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 304.27 Td (Rate of increase in future) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 294.27 Td (compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.65 294.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.65 294.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.50 299.77 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.65 294.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 294.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.50 299.77 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 294.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 294.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.50 299.77 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.30 304.27 Td (3.00 - 8.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.90 294.27 Td (\(Graded\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.30 304.27 Td (3.00 - 8.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.90 294.27 Td (\(Graded\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.30 304.27 Td (3.00 - 12.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.90 294.27 Td (\(Graded\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 279.27 Td (Expected long-term rate of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 269.27 Td (return on plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.15 269.27 Td (6.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.65 269.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.15 269.27 Td (7.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 269.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 269.27 Td (7.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 269.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 269.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 269.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 269.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 269.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 269.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 269.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.10 Td (*No rate of increases in future compensation used within assumptions for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.88 241.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.88 241.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.88 241.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.88 241.10 Td (, and 2014, as the cash balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (component of the domestic Pension Plan was frozen and the other domestic Pension Plan components do not base benefits on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (compensation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (For the fiscal year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.35 193.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.93 193.10 Td (, the Company used the RP-2014 aggregate table adjusted to back out estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (mortality improvements from 2006 to the measurement date using Scale MP-2014, and then projected forward using Scale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (MP-2016 released by the Society of ) Tj ET Q q 0 0 0 rg BT 195.53 169.10 Td (Actuaries during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.95 169.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.95 169.10 Td ( to estimate future mortality rates based upon current data. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (fiscal year ended January 2, 2016, the Company used the RP-2014 aggregate table adjusted to back out estimated mortality ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (improvements from 2006 to the measurement date using Scale MP-2014, and then projected forward using Scale MP-2015 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (released by the Society of ) Tj ET Q q 0 0 0 rg BT 155.24 133.10 Td (Actuaries during 2015 to estimate future mortality rates.) Tj ET Q endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The following table sets forth the aggregated net periodic benefit cost for all defined benefit plans for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.91 742.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.91 742.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.91 742.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.91 742.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.85 742.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.85 742.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 701.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 701.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 701.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 701.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 701.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 701.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 701.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 701.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 701.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 701.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 701.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 701.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 671.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 671.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 671.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 671.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 671.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 671.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 671.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 671.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 671.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 671.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 671.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 671.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 641.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 641.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 641.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 641.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 641.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 641.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 641.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 641.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 641.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 641.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 641.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 641.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 611.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 611.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 611.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 611.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 611.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 611.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 611.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 611.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 611.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 611.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 611.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 611.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 581.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 581.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 581.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 581.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 581.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 581.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 581.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 581.60 55.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 716.6 m 267.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 716.6 m 271.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 716.6 m 326.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 716.6 m 330.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 716.6 m 385.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 716.6 m 444.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 716.6 m 448.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 716.6 m 503.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 716.6 m 507.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 716.6 m 562.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 716.6 m 267.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 701.6 m 267.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 716.6 m 326.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 701.6 m 326.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 716.6 m 385.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 701.6 m 385.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 716.6 m 444.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 701.6 m 444.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 716.6 m 503.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 701.6 m 503.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 716.6 m 562.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 701.6 m 562.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 701.6 m 267.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 701.6 m 326.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 701.6 m 385.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 701.6 m 444.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 701.6 m 503.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 701.6 m 562.5 701.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 566.6 m 267.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 566.6 m 326.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 566.6 m 385.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 566.6 m 444.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 566.6 m 503.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 566.6 m 562.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 566.6 m 267.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 552.6 m 267.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 550.6 m 267.5 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 566.6 m 326.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 552.6 m 326.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 550.6 m 326.5 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 566.6 m 385.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 552.6 m 385.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 550.6 m 385.5 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 566.6 m 444.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 552.6 m 444.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 550.6 m 444.5 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 566.6 m 503.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 552.6 m 503.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 550.6 m 503.5 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 566.6 m 562.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 552.6 m 562.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 550.6 m 562.5 550.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 721.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.75 721.27 Td (Pension Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.20 721.27 Td (Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 706.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.50 706.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 706.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.50 706.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 706.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.50 706.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.50 706.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 691.27 Td (Service cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.00 691.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 691.27 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.00 691.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 691.27 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 691.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 691.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 691.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 691.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 691.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 691.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 691.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 691.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 676.27 Td (Interest cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 676.27 Td (6.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 676.27 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 676.27 Td (8.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 676.27 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 676.27 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 676.27 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 661.27 Td (Expected return on assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.80 661.27 Td (\(9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.65 661.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.80 661.32 Td (\(9.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.65 661.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 661.32 Td (\(10.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 661.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 661.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 661.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 661.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 646.27 Td (Amortization of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 631.27 Td (Transition obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.65 631.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 631.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 631.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 631.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 631.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 631.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 616.27 Td (Settlement cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 616.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 616.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 616.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 616.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 616.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 616.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 601.27 Td (Prior service cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.65 601.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 601.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 601.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 601.27 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 601.27 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 601.27 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 586.27 Td (Actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 586.27 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 586.27 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 586.27 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 586.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 586.27 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 586.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 571.27 Td (Settlement cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 571.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 571.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 571.27 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 571.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 571.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 571.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.27 Td (Net periodic benefit cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.00 556.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 556.27 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.00 556.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 556.27 Td (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 556.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 556.27 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 556.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 556.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 556.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 556.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 556.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 556.27 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 528.10 Td (The estimated net actuarial \(gain\)/loss and prior service cost/\(credit\) that will be amortized from accumulated other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 516.10 Td (comprehensive income into net periodic benefit cost during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.20 516.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.20 516.10 Td ( fiscal year are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.27 516.10 Td ($2.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.16 516.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.60 516.10 Td ($0.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.49 516.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 556.15 516.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 504.10 Td (for the pension plans and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 504.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.92 504.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.36 504.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.25 504.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 322.92 504.10 Td (, for all other benefits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 480.10 Td (The Company consults with a third party investment manager for the assets of the funded domestic defined benefit plan. ) Tj ET Q q 0 0 0 rg BT 536.08 480.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 468.10 Td (plan assets are currently invested primarily in pooled funds, where each fund in turn is composed of mutual funds that have at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 456.10 Td (least daily net asset valuations. ) Tj ET Q q 0 0 0 rg BT 178.40 456.10 Td (Thus, the Company) Tj ET Q q 0 0 0 rg BT 259.78 456.10 Td (s funded domestic defined benefit plan assets are invested in a fund of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.10 Td (funds approach.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 420.10 Td (s Board has delegated oversight and guidance to an appointed Employee Benefits Committee.) Tj ET Q q 0 0 0 rg BT 489.71 420.10 Td (The Committee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (has the tasks of reviewing plan performance and asset allocation, ensuring plan compliance with applicable laws, establishing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (plan policies, procedures, and controls, monitoring expenses, and other related activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.10 Td (The plan's investment policies and strategies focus on the ability to fund benefit obligations as they come due. Considerations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.10 Td (include the plan's current funded level, plan design, benefit payment assumptions, funding regulations, impact of potentially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.10 Td (volatile business results on the Company) Tj ET Q q 0 0 0 rg BT 216.37 348.10 Td (s ability to make certain levels of contributions, and interest rate and asset return ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.10 Td (volatility among other considerations. ) Tj ET Q q 0 0 0 rg BT 206.46 336.10 Td (The Company currently attempts to maintain plan funded status at approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.87 336.10 Td (80 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.42 324.10 Td ( or greater pursuant to the Pension Protection ) Tj ET Q q 0 0 0 rg BT 262.16 324.10 Td (Act of 2007. Given the plan) Tj ET Q q 0 0 0 rg BT 379.08 324.10 Td (s current funded status, the Company) Tj ET Q q 0 0 0 rg BT 530.72 324.10 Td (s cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.10 Td (on hand, cash historically generated from business operations, and cash available under committed credit facilities, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.10 Td (Company sees ample liquidity to achieve this goal.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.10 Td (Risk management and continuous monitoring requirements are met through monthly investment portfolio reports, quarterly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.10 Td (Employee Benefits Committee meetings, annual valuations,asset/liability studies, and the annual assumption process focusing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (primarily on the return on asset assumption and the discount rate assumption.) Tj ET Q q 0 0 0 rg BT 363.83 252.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.28 252.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.86 252.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 252.10 Td (January2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.90 252.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (funds were invested in equity) Tj ET Q q 0 0 0 rg BT 167.10 240.10 Td (, fixed income, and other investments as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 187.60 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 187.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 187.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 187.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 187.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 187.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 187.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 157.60 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 157.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 157.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 157.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 157.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 157.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 157.60 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 202.60000000000002 m 456.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 202.60000000000002 m 461.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 202.60000000000002 m 561.5 202.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 187.60000000000002 m 248.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252.5 187.60000000000002 m 352.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 187.60000000000002 m 456.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 187.60000000000002 m 561.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252.5 187.60000000000002 m 352.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 187.60000000000002 m 456.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 187.60000000000002 m 561.5 187.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252.5 142.60000000000002 m 352.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252.5 128.60000000000002 m 352.5 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252.5 126.60000000000002 m 352.5 126.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 142.60000000000002 m 456.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 128.60000000000002 m 456.5 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 126.60000000000002 m 456.5 126.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 142.60000000000002 m 561.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 128.60000000000002 m 561.5 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 126.60000000000002 m 561.5 126.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.20 207.27 Td (Target Percentage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 207.27 Td (Plan Asset Allocation at Year-End) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.80 192.27 Td (Asset Category) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.20 192.27 Td (at Year-End 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.00 192.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 192.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 177.27 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 177.27 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 177.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 177.27 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 177.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 177.27 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 177.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 162.27 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 162.27 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 162.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 162.27 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 162.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 162.27 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 162.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 147.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 147.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 147.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 147.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 147.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 147.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 147.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 132.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 132.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 132.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 132.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 132.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 132.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 132.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.10 Td (The Company does not see any particular concentration of risk within the plans, nor any plan assets that pose dif) Tj ET Q q 0 0 0 rg BT 500.26 104.10 Td (ficulties for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.10 Td (fair value assessment. ) Tj ET Q q 0 0 0 rg BT 142.29 92.10 Td (The Company currently has no allocation to potentially illiquid or potentially dif) Tj ET Q q 0 0 0 rg BT 464.54 92.10 Td (ficult to value assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 80.10 Td (such as hedge funds, venture capital, private equity) Tj ET Q q 0 0 0 rg BT 254.00 80.10 Td (, and real estate.) Tj ET Q endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The Company works with actuaries and consultants in making its determination of the asset rate of return assumption and also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the discount rate assumption.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Asset class assumptions are set using a combination of empirical and forward-looking analysis for long-term rate of return on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (plan assets. ) Tj ET Q q 0 0 0 rg BT 100.00 694.10 Td (A) Tj ET Q q 0 0 0 rg BT 106.67 694.10 Td ( variety of models are applied for filtering historical data and isolating the fundamental characteristics of asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (classes. ) Tj ET Q q 0 0 0 rg BT 85.09 682.10 Td (These models provide empirical return estimates for each asset class, which are then reviewed and combined with a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (qualitative assessment of long-term relationships between asset classes before a return estimate is finalized. ) Tj ET Q q 0 0 0 rg BT 484.68 670.10 Td (This provides an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (additional means for correcting for the ef) Tj ET Q q 0 0 0 rg BT 214.19 658.10 Td (fect of unrealistic or unsustainable short-term valuations or trends, opting instead for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (return levels and behavior that are more likely to prevail over long periods.) Tj ET Q q 0 0 0 rg BT 355.00 646.10 Td (W) Tj ET Q q 0 0 0 rg BT 364.03 646.10 Td (ith that, the Company has assumed an expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (long-term rate of return on plan assets of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 634.10 Td (6.25 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.93 634.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 634.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.30 634.10 Td ( net periodic benefit cost, down from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.82 634.10 Td (6.50 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.24 634.10 Td ( in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (prior year) Tj ET Q q 0 0 0 rg BT 88.59 622.10 Td (. ) Tj ET Q q 0 0 0 rg BT 95.91 622.10 Td (This decrease in the assumed long-term rate of return is primarily due to a higher percentage of assets in fixed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (income securities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (The Company uses the ) Tj ET Q q 0 0 0 rg BT 143.32 586.10 Td (Aon Hewitt ) Tj ET Q q 0 0 0 rg BT 192.21 586.10 Td (AA) Tj ET Q q 0 0 0 rg BT 206.10 586.10 Td ( ) Tj ET Q q 0 0 0 rg BT 208.05 586.10 Td (Above Median curve to determine the discount rate.) Tj ET Q q 0 0 0 rg BT 420.76 586.10 Td (All cash flow obligations under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (plan are matched to bonds in the ) Tj ET Q q 0 0 0 rg BT 181.91 574.10 Td (Aon Hewitt universe of liquid, high-quality) Tj ET Q q 0 0 0 rg BT 355.12 574.10 Td (, non-callable / non-putable corporate bonds with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (outliers removed.From that matching exercise, a discount rate is determined.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (At January 2, 2016, the Company changed the method used to calculate the service and interest components of net periodic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (benefit cost for the domestic pension plans and other postretirement benefit plan. ) Tj ET Q q 0 0 0 rg BT 378.61 526.10 Td (This change compared to the previous ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (method resulted in dif) Tj ET Q q 0 0 0 rg BT 137.86 514.10 Td (ferent service and interest components of net periodic benefit cost in the 2016 fiscal year) Tj ET Q q 0 0 0 rg BT 492.17 514.10 Td (. Historically) Tj ET Q q 0 0 0 rg BT 546.24 514.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (the Company estimated these service and interest cost components utilizing a single weighted-average discount rate derived ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (from the yield curve used to measure the benefit obligation at the beginning of the period. ) Tj ET Q q 0 0 0 rg BT 414.16 490.10 Td (The Company elected to utilize a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (full yield curve approach in the estimation of these components by applying the specific spot rates along the yield curve used in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (the determination of the benefit obligation to the relevant projected cash flows. ) Tj ET Q q 0 0 0 rg BT 370.83 466.10 Td (The Company made this change to provide a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (the corresponding spot yield curve rates. ) Tj ET Q q 0 0 0 rg BT 216.99 442.10 Td (This change does not af) Tj ET Q q 0 0 0 rg BT 311.78 442.10 Td (fect the measurement of the Company's domestic pension and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (postretirement benefit obligations and is accounted for as a change in accounting estimate applied prospectively) Tj ET Q q 0 0 0 rg BT 496.98 430.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 406.10 Td (s German pension plans are funded by insurance contract policies whereby the insurance company guarantees a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (fixed minimum return.Due to tax legislation, individual pension benefits can only be financed using direct insurance policies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (up to certain maximums.) Tj ET Q q 0 0 0 rg BT 154.24 382.10 Td (These maximum amounts in respect of each member are paid into such an arrangement on a yearly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (The Company designated all equity and most domestic fixed income plan assets as Level 1, as they are mutual funds with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (prices that are readily available.) Tj ET Q q 0 0 0 rg BT 182.25 334.10 Td (The U.S. ) Tj ET Q q 0 0 0 rg BT 220.40 334.10 Td (T) Tj ET Q q 0 0 0 rg BT 226.16 334.10 Td (reasury securities and German plan assets are designated as Level 2 inputs. ) Tj ET Q q 0 0 0 rg BT 530.87 334.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (fair value of the German plan assets are measured by the reserve that is supervised by the German Federal Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Supervisory ) Tj ET Q q 0 0 0 rg BT 100.28 310.10 Td (Authority) Tj ET Q q 0 0 0 rg BT 138.52 310.10 Td (. ) Tj ET Q q 0 0 0 rg BT 145.83 310.10 Td (The U.S. ) Tj ET Q q 0 0 0 rg BT 183.98 310.10 Td (T) Tj ET Q q 0 0 0 rg BT 189.74 310.10 Td (reasury securities are administered by the United States government. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (The fair values of the Company) Tj ET Q q 0 0 0 rg BT 179.68 286.10 Td (s pension plan assets for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.39 286.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.39 286.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.83 286.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.83 286.10 Td ( by asset category are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 197.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 197.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 197.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 197.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 197.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 197.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 197.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 197.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 197.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 167.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 167.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 167.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 167.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 167.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 167.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 167.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 167.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 167.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 137.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 137.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 137.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 137.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 137.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 137.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 137.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 137.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 137.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 108.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 108.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 108.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 108.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 108.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 108.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 108.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 108.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 108.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 78.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 78.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 78.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 78.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 78.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 78.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 78.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 78.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 78.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 197.60000000000002 m 339.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 197.60000000000002 m 413.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 197.60000000000002 m 487.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 197.60000000000002 m 561.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 63.60000000000002 m 339.5 63.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 63.60000000000002 m 413.5 63.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 63.60000000000002 m 487.5 63.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 63.60000000000002 m 561.5 63.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 49.60000000000002 m 339.5 49.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 47.60000000000002 m 339.5 47.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 49.60000000000002 m 413.5 49.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 47.60000000000002 m 413.5 47.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 49.60000000000002 m 487.5 49.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 47.60000000000002 m 487.5 47.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 49.60000000000002 m 561.5 49.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 47.60000000000002 m 561.5 47.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 202.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 202.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.80 242.27 Td (Quoted Prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.80 232.27 Td (in ) Tj ET Q q 0 0 0 rg BT 369.53 232.27 Td (Active ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 222.27 Td (Markets for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.45 212.27 Td (Identical ) Tj ET Q q 0 0 0 rg BT 383.38 212.27 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.50 202.27 Td (\(Level 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.05 242.27 Td (Significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.60 232.27 Td (Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.20 222.27 Td (Observable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.50 212.27 Td (Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 202.27 Td (\(Level 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.05 232.27 Td (Significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.20 222.27 Td (Unobservable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.25 212.27 Td (Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 202.27 Td (\(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 187.27 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 172.27 Td (Domestic equity mutual funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 172.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 172.27 Td (27.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 172.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 172.27 Td (27.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 172.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 172.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 172.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 172.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 157.27 Td (International equity mutual funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 157.27 Td (17.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 157.27 Td (17.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 157.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 157.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 142.27 Td (Fixed income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 127.27 Td (U.S. treasury and government agency securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 127.27 Td (16.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 127.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 127.27 Td (16.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 127.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 113.17 Td (Fixed income mutual funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 113.17 Td (79.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 113.17 Td (79.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 113.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 113.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 98.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 83.27 Td (Insurance contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 83.27 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 83.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 83.27 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 83.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 68.27 Td (Cash and equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 68.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 68.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 68.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 68.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 53.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 53.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 53.27 Td (146.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 53.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 53.27 Td (125.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 53.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 53.27 Td (20.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 53.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 53.27 Td () Tj ET Q BT /F1 10.00 Tf ET endstream endobj 107 0 obj <> endobj 108 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (53) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 676.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 676.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 676.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 676.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 676.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 676.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 676.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 676.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 676.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 646.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 646.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 646.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 646.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 646.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 646.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 646.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 646.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 646.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 616.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 616.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 616.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 616.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 616.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 616.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 616.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 616.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 616.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 586.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 586.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 586.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 586.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 586.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 586.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 586.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 586.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 586.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 556.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 556.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 556.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 556.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 556.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 556.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 556.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 556.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 556.50 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 676.5 m 339.5 676.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 676.5 m 413.5 676.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 676.5 m 487.5 676.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 676.5 m 561.5 676.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 541.5 m 339.5 541.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 541.5 m 413.5 541.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 541.5 m 487.5 541.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 541.5 m 561.5 541.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 527.5 m 339.5 527.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 525.5 m 339.5 525.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 527.5 m 413.5 527.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 525.5 m 413.5 525.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 527.5 m 487.5 527.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 525.5 m 487.5 525.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 527.5 m 561.5 527.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 525.5 m 561.5 525.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 681.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 681.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.80 721.17 Td (Quoted Prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.80 711.17 Td (in ) Tj ET Q q 0 0 0 rg BT 369.53 711.17 Td (Active ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 701.17 Td (Markets for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.45 691.17 Td (Identical ) Tj ET Q q 0 0 0 rg BT 383.38 691.17 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.50 681.17 Td (\(Level 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.05 721.17 Td (Significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.60 711.17 Td (Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.20 701.17 Td (Observable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.50 691.17 Td (Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 681.17 Td (\(Level 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.05 711.17 Td (Significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.20 701.17 Td (Unobservable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.25 691.17 Td (Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 681.17 Td (\(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 666.17 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 651.17 Td (Domestic equity mutual funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 651.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 651.17 Td (31.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 651.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 651.17 Td (31.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 651.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 651.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 651.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 651.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 636.17 Td (International equity mutual funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 636.17 Td (19.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 636.17 Td (19.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 636.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 636.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 621.17 Td (Fixed income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 606.17 Td (U.S. treasury and government agency securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 606.17 Td (15.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 606.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 606.17 Td (15.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 606.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 591.17 Td (Fixed income mutual funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 591.17 Td (75.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 591.17 Td (75.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 591.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 591.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 576.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 561.17 Td (Insurance contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 561.17 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 561.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 561.17 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 561.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 546.17 Td (Cash and equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 546.17 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 546.17 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 546.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 546.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 531.17 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 531.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 531.17 Td (147.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 531.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 531.17 Td (126.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 531.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 531.17 Td (20.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 531.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 531.17 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.00 Td (The Company estimates total contributions to the plans of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.13 503.00 Td ($6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.52 503.00 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.30 503.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.30 503.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.00 Td (The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid in accordance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.00 Td (with the following schedule:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 419.50 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 419.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 419.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 419.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 419.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 389.50 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 389.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 389.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 389.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 389.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 359.50 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 359.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 359.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 359.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 359.50 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 419.5 m 473.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 419.5 m 561.5 419.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 424.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 434.17 Td (Pension) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.05 424.17 Td ( Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.60 434.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.05 424.17 Td ( Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 409.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 409.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 409.17 Td (11.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 409.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 409.17 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 394.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 394.17 Td (11.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 394.17 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 379.17 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 379.17 Td (11.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 379.17 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 364.17 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 364.17 Td (11.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 364.17 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 349.17 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 349.17 Td (11.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 349.17 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 334.17 Td (Years 2022 through 2026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 334.17 Td (59.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 334.17 Td (3.5) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 306.00 Td (Defined Contribution Plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.97 306.00 Td (-) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 170.30 306.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.80 306.00 Td (The Company maintained two defined contribution plans during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.74 306.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.74 306.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.74 306.00 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.74 306.00 Td (, and 2014. ) Tj ET Q q 0 0 0 rg BT 527.00 306.00 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.00 Td (Company's cash contributions are allocated to participant's accounts based on investment elections.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.00 Td (The following table sets forth Company contributions to the defined contribution plans:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 232.50 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 232.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 232.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 232.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 232.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 232.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 232.50 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 232.5 m 385.5 232.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 232.5 m 473.5 232.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 232.5 m 561.5 232.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 232.5 m 385.5 232.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 237.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 237.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 237.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 237.17 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 222.17 Td (Company contributions to the plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 222.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 222.17 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 222.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 222.17 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 222.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 222.17 Td (5.6) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 194.00 Td (9. ) Tj ET Q q 0 0 0 rg BT 59.45 194.00 Td (ACCRUED EXPENSES ) Tj ET Q q 0 0 0 rg BT 165.58 194.00 Td (AND OTHER CURRENT) Tj ET Q q 0 0 0 rg BT 277.63 194.00 Td ( LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.00 Td (Accrued expenses and other current liabilities consist of:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 156.50 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 156.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 156.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 156.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 156.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 126.50 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 126.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 126.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 126.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 126.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 96.50 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 96.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 96.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 96.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 96.50 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 156.5 m 473.5 156.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 156.5 m 561.5 156.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 81.5 m 473.5 81.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 81.5 m 561.5 81.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 81.5 m 473.5 81.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 67.5 m 473.5 67.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 65.5 m 473.5 65.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 81.5 m 561.5 81.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 67.5 m 561.5 67.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 65.5 m 561.5 65.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 161.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 161.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 161.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 146.17 Td (Salaries, wages, and commissions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 146.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 146.17 Td (28.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 146.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 146.17 Td (20.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 131.17 Td (Product warranty costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 131.17 Td (8.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 131.17 Td (9.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 116.17 Td (Insurance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 116.17 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 116.17 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 101.17 Td (Employee benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 101.17 Td (7.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 101.17 Td (11.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 86.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 86.17 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 86.17 Td (8.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 71.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 71.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 71.17 Td (56.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 71.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 71.17 Td (52.1) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 109 0 obj <> endobj 110 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (54) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (10. INCOME ) Tj ET Q q 0 0 0 rg BT 109.54 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 115.47 742.25 Td (AXES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (Income before income taxes consisted of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 692.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 692.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 692.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 692.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 692.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 692.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 692.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 662.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 662.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 662.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 662.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 662.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 662.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 662.75 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 692.75 m 385.5 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 692.75 m 473.5 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 692.75 m 561.5 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 662.75 m 385.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 662.75 m 473.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 662.75 m 561.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 662.75 m 385.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 648.75 m 385.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 646.75 m 385.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 662.75 m 473.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 648.75 m 473.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 646.75 m 473.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 662.75 m 561.5 662.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 648.75 m 561.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 646.75 m 561.5 646.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 697.42 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 697.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 697.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 697.42 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 682.42 Td (Domestic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 682.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 682.42 Td (45.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 682.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 682.42 Td (23.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 682.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 682.42 Td (42.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 667.42 Td (Foreign) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 667.42 Td (58.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 667.42 Td (62.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 667.42 Td (47.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 652.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 652.42 Td (104.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 652.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 652.42 Td (86.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 652.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 652.42 Td (89.7) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 624.25 Td (The income tax provision/\(benefit\) from continuing operations consisted of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 586.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 586.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 586.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 586.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 586.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 586.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 586.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 556.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 556.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 556.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 556.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 556.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 556.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 556.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 526.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 526.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 526.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 526.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 526.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 526.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 526.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 496.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 496.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 496.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 496.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 496.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 496.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 496.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 466.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 466.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 466.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 466.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 466.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 466.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 466.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 436.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 436.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 436.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 436.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 436.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 436.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 436.75 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 586.75 m 385.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 586.75 m 473.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 586.75 m 561.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 526.75 m 385.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 526.75 m 473.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 526.75 m 561.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 526.75 m 385.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 526.75 m 473.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 526.75 m 561.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 451.75 m 385.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 451.75 m 473.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 451.75 m 561.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 451.75 m 385.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 436.75 m 385.5 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 451.75 m 473.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 436.75 m 473.5 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 451.75 m 561.5 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 436.75 m 561.5 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 422.75 m 385.5 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 420.75 m 385.5 420.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 422.75 m 473.5 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 420.75 m 473.5 420.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 422.75 m 561.5 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 420.75 m 561.5 420.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 591.42 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 591.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 591.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 591.42 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 576.42 Td (Current:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 576.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 576.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 576.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 561.42 Td (Federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 561.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 561.42 Td (9.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 561.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 561.42 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 561.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 561.42 Td (7.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 546.42 Td (Foreign) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 546.42 Td (11.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 546.42 Td (17.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 546.42 Td (12.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 531.42 Td (State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 531.42 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 531.42 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 531.42 Td (1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 516.42 Td (Total current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 516.42 Td (21.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 516.42 Td (19.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 516.42 Td (21.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 501.42 Td (Deferred:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 501.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.00 501.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 501.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 486.42 Td (Federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 486.42 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 486.47 Td (\(1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 486.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 486.42 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 471.42 Td (Foreign) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.80 471.47 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 471.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 471.47 Td (\(4.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 471.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 471.47 Td (\(3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 471.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 456.42 Td (State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 456.42 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 456.47 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 456.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 456.47 Td (\(1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 456.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 441.42 Td (Total deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 441.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 441.42 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 441.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 441.47 Td (\(6.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 441.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 441.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 441.47 Td (\(2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 441.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 426.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 426.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 426.42 Td (24.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 426.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 426.42 Td (12.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 426.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 426.42 Td (18.9) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 398.25 Td ( reconciliation of the tax provision for continuing operations at the U.S. statutory rate to the ef) Tj ET Q q 0 0 0 rg BT 433.06 398.25 Td (fective income tax expense rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.25 Td (as reported is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 348.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 348.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 348.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 348.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 348.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 348.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 348.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 318.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 318.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 318.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 318.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 318.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 318.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 318.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 288.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 288.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 288.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 288.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 288.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 288.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 288.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 248.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 248.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 248.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 248.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 248.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 248.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 248.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 218.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 218.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 218.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 218.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 218.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 218.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 218.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 188.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 188.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 188.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 188.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 188.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 188.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 188.75 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 348.75 m 385.5 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 348.75 m 473.5 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 348.75 m 561.5 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 188.75 m 385.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 188.75 m 473.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 188.75 m 561.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 188.75 m 385.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 174.75 m 385.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 172.75 m 385.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 174.75 m 473.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 172.75 m 473.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 174.75 m 561.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 172.75 m 561.5 172.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 353.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 353.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 353.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 353.42 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 338.42 Td (U.S. Federal statutory rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 338.42 Td (35.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 338.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 338.42 Td (35.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 338.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 338.42 Td (35.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 338.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 323.42 Td (State income taxes, net of federal benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 323.47 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 323.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 323.47 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 323.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 323.42 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 308.42 Td (Foreign operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 308.47 Td (\(8.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 308.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.80 308.47 Td (\(13.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 308.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 308.47 Td (\(9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 308.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 293.42 Td (R&D tax credits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 293.47 Td (\(0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 293.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 293.47 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 293.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 293.47 Td (\(0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 293.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 278.42 Td (Uncertain tax position adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 278.47 Td (\(2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 278.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 278.47 Td (\(1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 278.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 278.47 Td (\(1.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 278.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 263.42 Td (Deferred tax adjustments - restructuring and rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 253.42 Td (adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 253.42 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 253.42 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 253.47 Td (\(3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 253.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 238.42 Td (Valuation allowance on state and foreign deferred tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 238.42 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 238.42 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 238.47 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 238.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 223.42 Td (Purchase of noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 223.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 223.47 Td (\(9.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 223.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 223.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 208.42 Td (Share-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 208.47 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 208.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 208.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 208.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 193.42 Td (Other items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 193.47 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 193.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 193.47 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 193.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 193.42 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 178.42 Td (Effective tax rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 178.42 Td (23.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 178.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 178.42 Td (14.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 178.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 178.42 Td (21.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 178.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 111 0 obj <> endobj 112 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Significant components of the Company's deferred tax assets and liabilities were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 704.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 704.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 704.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 704.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 704.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 674.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 674.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 674.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 674.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 674.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 644.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 644.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 644.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 644.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 644.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 614.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 614.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 614.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 614.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 614.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 584.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 584.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 584.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 554.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 554.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 554.60 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 704.6 m 473.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 704.6 m 561.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 629.6 m 473.5 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 629.6 m 561.5 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 554.6 m 473.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 554.6 m 561.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 539.6 m 473.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 539.6 m 561.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 525.6 m 473.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 523.6 m 473.5 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 525.6 m 561.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 523.6 m 561.5 523.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 709.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 709.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 709.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 694.27 Td (Deferred tax assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 694.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 694.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 679.27 Td (Accrued expenses and reserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 679.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 679.27 Td (10.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 679.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 679.27 Td (12.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 664.27 Td (Compensation and employee benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 664.27 Td (24.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 664.27 Td (25.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 649.27 Td (Other items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 649.27 Td (10.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 649.27 Td (9.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 634.27 Td (Valuation allowance on state and foreign deferred tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 634.32 Td (\(9.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 634.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 634.32 Td (\(7.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 634.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 619.27 Td (Total deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 619.27 Td (35.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 619.27 Td (40.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 604.27 Td (Deferred tax liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.00 604.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 604.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 589.27 Td (Accelerated depreciation on fixed assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 589.27 Td (13.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 589.27 Td (14.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 574.27 Td (Amortization of intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 574.27 Td (56.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 574.27 Td (56.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 559.27 Td (Other items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 559.27 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 559.27 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 544.27 Td (Total deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 544.27 Td (71.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 544.27 Td (70.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 529.27 Td (Net deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 529.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 529.32 Td (\(35.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 529.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 529.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 529.32 Td (\(29.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 529.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 501.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 75.63 501.10 Td (fective tax rate continues to be lower than the statutory rate primarily due to the indefinite reinvestment of foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 489.10 Td (earnings taxed at rates below the U.S. statutory rate as well as recognition of foreign tax credits.) Tj ET Q q 0 0 0 rg BT 438.86 489.10 Td (The Company has the ability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.10 Td (to indefinitely reinvest these foreign earnings based on the earnings and cash projections of its other operations as well as cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.10 Td (on hand and available credit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 441.10 Td (In March 2016, the Financial ) Tj ET Q q 0 0 0 rg BT 168.31 441.10 Td (Accounting Standards Board \("F) Tj ET Q q 0 0 0 rg BT 298.57 441.10 Td (ASB"\) issued ) Tj ET Q q 0 0 0 rg BT 354.88 441.10 Td (Accounting Standards Update \("ASU"\) 2016-09, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 429.10 Td (Compensation - Stock Compensation \(T) Tj ET Q q 0 0 0 rg BT 208.52 429.10 Td (opic 718\): Impr) Tj ET Q q 0 0 0 rg BT 271.46 429.10 Td (ovements to Employee Shar) Tj ET Q q 0 0 0 rg BT 381.89 429.10 Td (e-Based Payment ) Tj ET Q q 0 0 0 rg BT 453.91 429.10 Td (Accounting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.45 429.10 Td (. ) Tj ET Q q 0 0 0 rg BT 506.77 429.10 Td (This standard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 417.10 Td (simplifies several aspects of the accounting for employee share-based payment transactions including the recognition of excess ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 405.10 Td (tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 393.10 Td (election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.10 Td (and the classification of those taxes paid on the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 340.29 381.10 Td (This ) Tj ET Q q 0 0 0 rg BT 360.02 381.10 Td (ASU is ef) Tj ET Q q 0 0 0 rg BT 399.28 381.10 Td (fective for annual and interim periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 369.10 Td (beginning after December 15, 2016 with early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 320.29 369.10 Td (The Company early adopted ) Tj ET Q q 0 0 0 rg BT 435.82 369.10 Td (ASU 2016-09 during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 357.10 Td (second quarter ended July 2, 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 333.10 Td (The Company settled the liability for the noncontrolling interest of a subsidiary during the first quarter of 2015. ) Tj ET Q q 0 0 0 rg BT 498.33 333.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 321.10 Td (transaction created additional accretive benefits for the Company from the reversal of a deferred tax liability created in 2012 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 309.10 Td (when the Company acquired the controlling interest in the Pioneer subsidiary and realized a gain on the then equity investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 297.10 Td (in Pioneer) Tj ET Q q 0 0 0 rg BT 90.27 297.10 Td (. ) Tj ET Q q 0 0 0 rg BT 95.09 297.10 Td (The Company also realized a gain on the mandatorily redeemable noncontrolling interest liability during the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 285.10 Td (quarter of 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.10 Td (In November 2015, the F) Tj ET Q q 0 0 0 rg BT 150.07 261.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 198.97 261.10 Td (ASU 2015-17, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 259.81 261.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 296.38 261.10 Td (axes \(T) Tj ET Q q 0 0 0 rg BT 324.62 261.10 Td (opic 740\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.00 261.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 368.50 261.10 Td (Balance Sheet Classification of Deferr) Tj ET Q q 0 0 0 rg BT 522.55 261.10 Td (ed T) Tj ET Q q 0 0 0 rg BT 539.13 261.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.90 261.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.10 Td (This ) Tj ET Q q 0 0 0 rg BT 69.73 249.10 Td (ASU requires an entity to classify deferred tax assets and liabilities as noncurrent within a classified balance sheet. ) Tj ET Q q 0 0 0 rg BT 530.79 249.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.10 Td (ASU is ef) Tj ET Q q 0 0 0 rg BT 89.26 237.10 Td (fective for interim and annual periods beginning after December 15, 2016, and early adoption is permitted. Entities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.10 Td (can elect either prospective or retrospective adoption of the standard. ) Tj ET Q q 0 0 0 rg BT 328.32 225.10 Td (The Company adopted the new standard on a prospective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.10 Td (basis as of the fiscal year) Tj ET Q q 0 0 0 rg BT 150.04 213.10 Td (-ended January 2, 2016. ) Tj ET Q q 0 0 0 rg BT 247.79 213.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 297.13 213.10 Td (, classification of prior period deferred tax amounts were not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.10 Td (retrospectively adjusted.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.10 Td (The Company assesses the available positive and negative evidence to estimate whether suf) Tj ET Q q 0 0 0 rg BT 416.37 177.10 Td (ficient future taxable income will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 165.10 Td (generated to permit use of the existing deferred tax assets. ) Tj ET Q q 0 0 0 rg BT 284.09 165.10 Td (A) Tj ET Q q 0 0 0 rg BT 290.76 165.10 Td ( significant piece of objective negative evidence evaluated was the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.10 Td (cumulative loss for certain state and foreign income tax purposes incurred over the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 153.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.48 153.10 Td (-year period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.94 153.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 141.10 Td (. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (On the basis of this evaluation, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.03 117.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.61 117.10 Td (, a valuation allowance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.12 117.10 Td ($9.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.02 117.10 Td ( has been recorded to recognize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (only the portion of the deferred tax assets that are more likely than not to be realized. ) Tj ET Q q 0 0 0 rg BT 394.98 105.10 Td (The Company has foreign income tax net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.10 Td (operating loss \("NOL"\) carryforwards of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.61 93.10 Td ($4.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.50 93.10 Td ( and state income tax NOL) Tj ET Q q 0 0 0 rg BT 371.60 93.10 Td ( and credit carryforwards of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.71 93.10 Td ($6.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.60 93.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.10 Td (which will expire on various dates as follows: ) Tj ET Q endstream endobj 113 0 obj <> endobj 114 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (56) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 733.50 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 733.50 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 703.50 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 703.50 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 673.50 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 673.50 144.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 643.50 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 643.50 144.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 643.5 m 561.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 629.5 m 561.5 629.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 627.5 m 561.5 627.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 738.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 723.17 Td (2017-2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 723.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 723.17 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 708.17 Td (2020-2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 708.17 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 693.17 Td (2025-2029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 693.17 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 678.17 Td (2030-2034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 678.17 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 663.17 Td (2035-2039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 663.17 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 648.17 Td (Unlimited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 648.17 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 633.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 633.17 Td (10.8) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.00 Td (The Company believes that it is more likely than not that the benefit from certain foreign NOL) Tj ET Q q 0 0 0 rg BT 428.41 605.00 Td ( carryforwards as well as certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.00 Td (state NOL) Tj ET Q q 0 0 0 rg BT 91.01 593.00 Td ( and state credit carryforwards will not be realized. In recognition of this risk, the Company has provided a valuation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 581.00 Td (allowance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.86 581.00 Td ($3.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.75 581.00 Td ( on the deferred tax assets related to these foreign NOL) Tj ET Q q 0 0 0 rg BT 373.41 581.00 Td ( carryforwards and a valuation allowance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 569.00 Td ($6.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.89 569.00 Td ( on the deferred tax assets related to these state NOL) Tj ET Q q 0 0 0 rg BT 308.99 569.00 Td ( and credit carryforwards. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 545.00 Td (The Company considers undistributed earnings from its foreign subsidiaries to be indefinitely reinvested with respect to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 533.00 Td (U.S. It is the Company) Tj ET Q q 0 0 0 rg BT 144.44 533.00 Td (s policy to reinvest earnings as needed for operations, capital and acquisition spending. ) Tj ET Q q 0 0 0 rg BT 495.00 533.00 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 521.00 Td (does not provide for deferred taxes on the excess of the financial reporting over the tax basis in our investments in foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 509.00 Td (subsidiaries that are essentially permanent in duration. ) Tj ET Q q 0 0 0 rg BT 269.76 509.00 Td (That excess totaled approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 509.00 Td ($440.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.04 509.00 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.20 509.00 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 497.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 497.00 Td (. ) Tj ET Q q 0 0 0 rg BT 77.32 497.00 Td (The determination of the additional deferred taxes that have not been provided is not practicable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 473.00 Td (As of the beginning of fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.35 473.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.35 473.00 Td (, the Company had gross unrecognized tax benefits of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.07 473.00 Td ($2.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.96 473.00 Td (, excluding accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 461.00 Td (interest and penalties.) Tj ET Q q 0 0 0 rg BT 141.73 461.00 Td (The unrecognized tax benefits decreased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.93 461.00 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.82 461.00 Td ( for federal tax liabilities and remained the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 449.00 Td (for state income tax liabilities based on evaluations made during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.93 449.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.93 449.00 Td ( primarily due to statute expirations and of) Tj ET Q q 0 0 0 rg BT 499.98 449.00 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.00 Td (uncertain tax positions identified in the current year) Tj ET Q q 0 0 0 rg BT 256.32 437.00 Td (.) Tj ET Q q 0 0 0 rg BT 263.64 437.00 Td (The Company had gross unrecognized tax benefits, excluding accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.00 Td (interest and penalties, of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.24 425.00 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.14 425.00 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.30 425.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.88 425.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 401.00 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 401.00 Td ( reconciliation of the beginning and ending amount of gross unrecognized tax benefits for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.68 401.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.68 401.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.68 401.00 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.68 401.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.61 401.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.61 401.00 Td ( \(excluding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 389.00 Td (interest and penalties\) is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 351.50 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 351.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 351.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 351.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 351.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 351.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 351.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 321.50 248.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 321.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 321.50 84.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 321.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 321.50 84.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 321.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 321.50 84.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 290.50 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 290.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 290.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 290.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 290.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 290.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 290.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 260.50 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 260.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 260.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 260.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 260.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 260.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 260.50 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 351.5 m 385.5 351.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 351.5 m 473.5 351.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 351.5 m 561.5 351.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 351.5 m 385.5 351.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 351.5 m 389.5 351.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 351.5 m 473.5 351.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 351.5 m 477.5 351.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 351.5 m 561.5 351.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 260.5 m 385.5 260.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 260.5 m 473.5 260.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 260.5 m 561.5 260.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 246.5 m 385.5 246.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 244.5 m 385.5 244.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 246.5 m 473.5 246.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 244.5 m 473.5 244.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 246.5 m 561.5 246.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 244.5 m 561.5 244.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 356.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 356.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 356.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 356.17 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 341.17 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 341.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 341.17 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 341.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 341.17 Td (4.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 341.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 341.17 Td (5.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 326.17 Td (Additions for tax positions of the current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 326.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 326.17 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 326.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 310.17 Td (Additions for tax positions of prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 310.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 310.17 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 310.17 Td (1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 295.17 Td (Reductions for tax positions of prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.80 295.22 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 295.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 295.22 Td (\(0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 295.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 295.22 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 295.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 280.17 Td (Statute expirations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.80 280.22 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 280.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 280.22 Td (\(1.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 280.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 280.22 Td (\(1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 280.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 265.17 Td (Settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 265.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 265.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 265.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 250.17 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 250.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 250.17 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 250.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 250.17 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 250.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 250.17 Td (4.4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.00 Td (If recognized, each annual ef) Tj ET Q q 0 0 0 rg BT 165.58 222.00 Td (fective tax rate would be af) Tj ET Q q 0 0 0 rg BT 274.51 222.00 Td (fected by the net unrecognized tax benefits of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.43 222.00 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.33 222.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.33 222.00 Td ($2.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.00 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 210.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.83 210.00 Td ($4.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.72 210.00 Td ( as of year) Tj ET Q q 0 0 0 rg BT 190.89 210.00 Td (-end ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.16 210.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.16 210.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.16 210.00 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.16 210.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.10 210.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.10 210.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 350.76 210.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.00 Td (The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 174.00 Td (, interest and penalties decreased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.83 174.00 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.72 174.00 Td (, for prior year tax positions. ) Tj ET Q q 0 0 0 rg BT 371.68 174.00 Td (The Company has accrued interest and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.00 Td (penalties as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.70 162.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.29 162.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.29 162.00 Td (January2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.88 162.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.82 162.00 Td (January3, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.42 162.00 Td ( of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.01 162.00 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.90 162.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.90 162.00 Td ($2.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.79 162.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.73 162.00 Td ($2.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.00 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 150.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.55 150.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.00 Td (The Company is subject to taxation in the United States and various state and foreign jurisdictions. ) Tj ET Q q 0 0 0 rg BT 450.30 126.00 Td (W) Tj ET Q q 0 0 0 rg BT 459.34 126.00 Td (ith few exceptions, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 114.00 Td (, the Company is no longer subject to U.S. federal income tax examinations by tax authorities for years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.00 Td (before 2013 and is no longer subject to foreign or state income tax examinations by tax authorities for years before ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.52 102.00 Td (201) Tj ET Q q 0 0 0 rg BT 526.15 102.00 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 102.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.00 Td (It is reasonably possible that the amounts of unrecognized tax benefits could change in the next twelve months as a result of an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.00 Td (audit or due to the expiration of a statute of limitation. Based on the current audits in process and pending statute expirations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 54.00 Td (the payment of taxes as a result could be up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.45 54.00 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.34 54.00 Td (.) Tj ET Q endstream endobj 115 0 obj <> endobj 116 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (1) Tj ET Q q 0 0 0 rg BT 54.45 730.10 Td (1. DEBT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Debt consisted of the following: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 692.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 692.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 692.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 692.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 692.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 662.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 662.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 662.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 662.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 662.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 632.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 632.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 632.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 602.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 602.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 602.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 602.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 602.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 572.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 572.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 572.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 572.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 572.60 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 692.6 m 473.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 692.6 m 561.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 602.6 m 473.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 602.6 m 561.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 602.6 m 473.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 572.6 m 473.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 572.6 m 561.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 572.6 m 473.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 558.6 m 473.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 556.6 m 473.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 572.6 m 561.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 558.6 m 561.5 558.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 556.6 m 561.5 556.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 697.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 697.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 697.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 682.27 Td (New York Life) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 682.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 682.27 Td (75.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 682.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 682.27 Td (75.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 667.27 Td (Prudential Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 667.27 Td (90.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 667.27 Td (120.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 652.27 Td (Tax increment financing debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 652.27 Td (21.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 652.27 Td (22.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 637.27 Td (Capital leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 637.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 637.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 622.27 Td (Foreign subsidiary debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 622.27 Td (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 622.27 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 607.27 Td (Less: unamortized debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 607.32 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 607.32 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 607.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 592.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 592.27 Td (190.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 592.27 Td (220.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 577.27 Td (Less current maturities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 577.32 Td (\(33.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 577.32 Td (\(32.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 562.27 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 562.27 Td (156.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 562.27 Td (187.8) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 534.10 Td (Debt outstanding at December 31, 2016, excluding unamortized debt issuance costs, matures as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 485.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.50 485.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.50 485.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 485.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 485.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 485.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 485.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 485.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 485.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 485.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 485.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 485.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 485.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 485.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 485.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 455.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.50 455.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.50 455.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 455.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 455.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 455.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 455.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 455.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 455.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 455.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 455.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 455.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 455.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 455.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 455.60 56.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 485.6 m 201.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 485.6 m 261.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 485.6 m 321.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 485.6 m 381.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 485.6 m 385.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 485.6 m 441.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 485.6 m 501.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 485.6 m 561.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 485.6 m 201.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 485.6 m 261.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 485.6 m 321.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 485.6 m 381.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 485.6 m 441.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 485.6 m 501.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 485.6 m 561.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 455.6 m 201.5 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 455.6 m 261.5 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 455.6 m 321.5 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 455.6 m 381.5 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 455.6 m 441.5 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 455.6 m 501.5 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 455.6 m 561.5 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 441.6 m 201.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 439.6 m 201.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 441.6 m 261.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 439.6 m 261.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 441.6 m 321.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 439.6 m 321.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 441.6 m 381.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 439.6 m 381.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 441.6 m 441.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 439.6 m 441.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 441.6 m 501.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 439.6 m 501.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 441.6 m 561.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 439.6 m 561.5 439.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 490.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.75 490.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.00 490.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.00 490.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 490.27 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 490.27 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 490.27 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 490.27 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 475.27 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.00 475.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.15 475.27 Td (190.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.00 475.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.15 475.27 Td (33.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 475.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.15 475.27 Td (31.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 475.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 475.27 Td (31.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 475.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 475.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 475.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 475.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 475.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 475.27 Td (91.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 460.27 Td (Capital leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.15 460.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 460.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 460.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 460.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 460.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 460.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 460.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 445.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.15 445.27 Td (190.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.15 445.27 Td (33.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.15 445.27 Td (31.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 445.27 Td (31.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 445.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 445.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 445.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 445.27 Td (91.8) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 417.10 Td (New ) Tj ET Q q 0 0 0 rg BT 70.65 417.10 Td (Y) Tj ET Q q 0 0 0 rg BT 75.65 417.10 Td (ork Life) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 405.10 Td (On May 27, 2015, the Company entered into an uncommitted and unsecured private shelf agreement with NYL) Tj ET Q q 0 0 0 rg BT 495.62 405.10 Td ( Investors LLC, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 393.10 Td (an af) Tj ET Q q 0 0 0 rg BT 69.53 393.10 Td (filiate of New ) Tj ET Q q 0 0 0 rg BT 127.19 393.10 Td (Y) Tj ET Q q 0 0 0 rg BT 133.41 393.10 Td (ork Life \(the "New ) Tj ET Q q 0 0 0 rg BT 211.53 393.10 Td (Y) Tj ET Q q 0 0 0 rg BT 217.75 393.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 252.19 393.10 Td (Agreement"\) for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.68 393.10 Td ($150.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.58 393.10 Td ( maximum aggregate principal borrowing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.10 Td (capacity and the Company authorized the issuance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.48 381.10 Td ($75.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.37 381.10 Td ( of floating rate senior notes due May 27, 2025. ) Tj ET Q q 0 0 0 rg BT 514.42 381.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 369.10 Td (senior notes have a floating interest rate of one-month USD LIBOR \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.88 369.10 Td (0.76 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.30 369.10 Td ( as of December 31, 2016\) plus a spread of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 357.10 Td (1.35 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.42 357.10 Td ( with interest-only payments due on a monthly basis. On October 28, 2016, the Company entered into the First ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 345.10 Td (Amendment to Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 243.57 345.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 295.31 345.10 Td (The ) Tj ET Q q 0 0 0 rg BT 312.81 345.10 Td (Amendment was intended to make the covenants within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 333.10 Td (New ) Tj ET Q q 0 0 0 rg BT 71.01 333.10 Td (Y) Tj ET Q q 0 0 0 rg BT 77.23 333.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 111.67 333.10 Td (Agreement consistent with the covenants that were modified in the ) Tj ET Q q 0 0 0 rg BT 381.41 333.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 405.57 333.10 Td (Amended and Restated Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 321.10 Td (Agreement \(the "Credit ) Tj ET Q q 0 0 0 rg BT 146.00 321.10 Td (Agreement"\). ) Tj ET Q q 0 0 0 rg BT 204.78 321.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.22 321.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.81 321.10 Td (, there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.34 321.10 Td ($75.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.24 321.10 Td ( remaining borrowing capacity under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 309.10 Td (the New ) Tj ET Q q 0 0 0 rg BT 85.73 309.10 Td (Y) Tj ET Q q 0 0 0 rg BT 91.95 309.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 126.38 309.10 Td (Agreement. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 285.10 Td (Project Bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 273.10 Td (On December31, 2012, the Company) Tj ET Q q 0 0 0 rg BT 201.26 273.10 Td (, ) Tj ET Q q 0 0 0 rg BT 205.71 273.10 Td (Allen County) Tj ET Q q 0 0 0 rg BT 259.22 273.10 Td (, Indiana and certain institutional investors entered into a Bond Purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.10 Td (and Loan ) Tj ET Q q 0 0 0 rg BT 89.43 261.10 Td (Agreement. Under the agreement, ) Tj ET Q q 0 0 0 rg BT 229.65 261.10 Td (Allen County) Tj ET Q q 0 0 0 rg BT 283.17 261.10 Td (, Indiana issued a series of Project Bonds entitled T) Tj ET Q q 0 0 0 rg BT 492.42 261.10 Td (axable Economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.10 Td (Development Bonds, Series 2012 \(Franklin Electric Co., Inc. Project\)." ) Tj ET Q q 0 0 0 rg BT 339.67 249.10 Td (The aggregate principal amount of the Project Bonds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.10 Td (that were issued, authenticated, and are now outstanding thereunder was limited to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.68 237.10 Td ($25.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.57 237.10 Td (. ) Tj ET Q q 0 0 0 rg BT 443.89 237.10 Td (The Company then borrowed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.10 Td (the proceeds under the Project Bonds through the issuance of Project Notes to finance the cost of acquisition, construction, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.10 Td (installation and equipping of the new Global Corporate Headquarters and Engineering Center) Tj ET Q q 0 0 0 rg BT 423.50 213.10 Td (. ) Tj ET Q q 0 0 0 rg BT 428.32 213.10 Td (These Project Notes \("T) Tj ET Q q 0 0 0 rg BT 524.17 213.10 Td (ax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.10 Td (increment financing debt"\) bear interest at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.23 201.10 Td (3.6 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 201.10 Td ( per annum. Interest and principal balance of the Project Notes are due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.10 Td (and payable by the Company directly to the institutional investors in aggregate semi-annual installments commencing on July ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.10 Td (10, 2013, and concluding on January 10, 2033. ) Tj ET Q q 0 0 0 rg BT 242.29 177.10 Td (The use of the proceeds from the Project Notes was limited to assist the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 165.10 Td (financing of the new Global Corporate Headquarters and Engineering Center) Tj ET Q q 0 0 0 rg BT 357.39 165.10 Td (. On May 5, 2015, the Company entered into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.10 Td (Amendment No. 1 to the Bond Purchase and Loan ) Tj ET Q q 0 0 0 rg BT 253.85 153.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 305.60 153.10 Td (This amendment provided for debt repayment guarantees from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.10 Td (certain Company subsidiaries and waived certain non-financial covenants related to subsidiary guarantees. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (Prudential ) Tj ET Q q 0 0 0 rg BT 96.03 117.10 Td (Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.17 105.10 Td (April9, 2007, the Company entered into the ) Tj ET Q q 0 0 0 rg BT 243.03 105.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 469.63 105.10 Td (Agreement \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.10 Td ("Prudential ) Tj ET Q q 0 0 0 rg BT 97.13 93.10 Td (Agreement"\) in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.79 93.10 Td ($175.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.68 93.10 Td (. Under the Prudential ) Tj ET Q q 0 0 0 rg BT 371.44 93.10 Td (Agreement, the Company issued notes in an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.10 Td (aggregate principal amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.73 81.10 Td ($1) Tj ET Q q 0 0 0 rg BT 182.36 81.10 Td (10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.25 81.10 Td ( on ) Tj ET Q q 0 0 0 rg BT 245.70 81.10 Td (April30, 2007 \(the B-1 Notes\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.33 81.10 Td ($40.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.22 81.10 Td ( on September7, 2007 \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.10 Td (B-2 Notes\). ) Tj ET Q q 0 0 0 rg BT 110.36 69.10 Td (The B-1 Notes and B-2 Notes bear a coupon of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.42 69.10 Td (5.79 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.84 69.10 Td ( and had at issuance an average life of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.49 69.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.49 69.10 Td ( years with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.10 Td (a final maturity in 2019.On July22, 2010, the Company entered into ) Tj ET Q q 0 0 0 rg BT 331.35 57.10 Td (Amendment No. 3 to the Prudential ) Tj ET Q q 0 0 0 rg BT 476.05 57.10 Td (Agreement to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 45.10 Td (increase its borrowing capacity by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.67 45.10 Td ($25.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.56 45.10 Td (.On December14, 201) Tj ET Q q 0 0 0 rg BT 339.00 45.10 Td (1, the Company entered into ) Tj ET Q q 0 0 0 rg BT 454.53 45.10 Td (Amendment No. 4 to the ) Tj ET Q endstream endobj 117 0 obj <> endobj 118 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 81.39 742.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 307.99 742.10 Td (Agreement to redefine the debt to EBITDA) Tj ET Q q 0 0 0 rg BT 481.27 742.10 Td ( ratio covenant in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (order to be equivalent to that under the ) Tj ET Q q 0 0 0 rg BT 207.17 730.10 Td (Agreement. On December 31, 2012, the Company and Prudential Insurance Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.28 718.10 Td (America entered into an amendment to the Second ) Tj ET Q q 0 0 0 rg BT 264.65 718.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 491.26 718.10 Td (Agreement to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (extend the ef) Tj ET Q q 0 0 0 rg BT 101.46 706.10 Td (fective date to December 31, 2015. On May 5, 2015, the Company entered into ) Tj ET Q q 0 0 0 rg BT 422.76 706.10 Td (Amendment No. 6 to the Second ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 276.61 694.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 330.85 694.10 Td (This amendment provided for debt repayment guarantees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (from certain Company subsidiaries and waived certain non-financial covenants related to subsidiary guarantees. On May 28, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (2015, the Company entered into a ) Tj ET Q q 0 0 0 rg BT 187.84 670.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 212.01 670.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 438.61 670.10 Td (Agreement with Prudential to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (increase the total borrowing capacity from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 658.10 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.04 658.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.82 658.10 Td ($250.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.71 658.10 Td (. On October 28, 2016, the Company entered into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (Amendment No. 1 to the ) Tj ET Q q 0 0 0 rg BT 151.47 646.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 175.63 646.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 402.24 646.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 453.98 646.10 Td (This amendment was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (intended to make the covenants within the Prudential ) Tj ET Q q 0 0 0 rg BT 264.39 634.10 Td (Agreement consistent with the covenants that were modified in the Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Agreement \(below\). ) Tj ET Q q 0 0 0 rg BT 134.97 622.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.41 622.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 622.10 Td (, the Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.93 622.10 Td ($100.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.82 622.10 Td ( borrowing capacity available under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (Prudential ) Tj ET Q q 0 0 0 rg BT 93.05 610.10 Td (Agreement.Principal installments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.24 610.10 Td ($30.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.13 610.10 Td ( are payable annually commencing on ) Tj ET Q q 0 0 0 rg BT 452.96 610.10 Td (April30, 2015 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (continuing to and including ) Tj ET Q q 0 0 0 rg BT 162.21 598.10 Td (April30, 2019, with any unpaid balance due at maturity) Tj ET Q q 0 0 0 rg BT 385.67 598.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 77.69 574.10 Td (Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (On October 28, 2016, the Company entered into the ) Tj ET Q q 0 0 0 rg BT 260.05 562.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 284.21 562.10 Td (Amended and Restated Credit ) Tj ET Q q 0 0 0 rg BT 406.41 562.10 Td (Agreement \(the "Credit ) Tj ET Q q 0 0 0 rg BT 502.40 562.10 Td (Agreement\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (The Credit ) Tj ET Q q 0 0 0 rg BT 94.99 550.10 Td (Agreement extended the maturity date of the Company) Tj ET Q q 0 0 0 rg BT 317.97 550.10 Td (s previous credit agreement to October 28, 2021 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (increased the commitment amount from) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.45 538.10 Td ($150.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.34 538.10 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.12 538.10 Td ($300.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.01 538.10 Td (. ) Tj ET Q q 0 0 0 rg BT 350.33 538.10 Td (The Credit ) Tj ET Q q 0 0 0 rg BT 395.32 538.10 Td (Agreement provides that the Borrowers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (may request an increase in the aggregate commitments by up to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.86 526.10 Td ($150.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.75 526.10 Td (\(not to exceed a total commitment of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.48 526.10 Td ($450.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 514.10 Td (\) subject to the conditions contained therein. ) Tj ET Q q 0 0 0 rg BT 258.29 514.10 Td (All of the Company's present and future material domestic subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (unconditionally guaranty all of the Borrowers' obligations under and in connection with the Credit ) Tj ET Q q 0 0 0 rg BT 445.05 502.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 493.92 502.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 543.82 502.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (Company unconditionally guaranties all of the obligations of Franklin B.V) Tj ET Q q 0 0 0 rg BT 347.55 490.10 Td (. under the Credit ) Tj ET Q q 0 0 0 rg BT 419.48 490.10 Td (Agreement. Under the Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Agreement, the Borrowers are required to pay certain fees, including a facility fee of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.96 478.10 Td (0.100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.79 478.10 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.57 478.10 Td (0.275%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.40 478.10 Td (\(depending on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Company's leverage ratio\) of the aggregate commitment, which fee is payable quarterly in arrears. Loans may be made either at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (\(i\) a Eurocurrency rate based on LIBOR plus an applicable mar) Tj ET Q q 0 0 0 rg BT 303.61 454.10 Td (gin of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.72 454.10 Td (0.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.55 454.10 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.33 454.10 Td (1.60%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.16 454.10 Td (\(depending on the Company's leverage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (ratio\) or \(ii\) an alternative base rate as defined in the Credit ) Tj ET Q q 0 0 0 rg BT 289.35 442.10 Td (Agreement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (As of December 31, 2016, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.07 418.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.07 418.10 Td ( outstanding borrowings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.29 418.10 Td ($5.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.18 418.10 Td ( in letters of credit outstanding, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td ($294.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.89 406.10 Td ( of available capacity under the Credit ) Tj ET Q q 0 0 0 rg BT 263.55 406.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 314.92 406.10 Td (As of January 2, 2016, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.01 406.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.01 406.10 Td ( outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (borrowings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.55 394.10 Td ($5.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.44 394.10 Td ( in letters of credit outstanding, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.85 394.10 Td ($144.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.74 394.10 Td ( of available capacity under the Credit ) Tj ET Q q 0 0 0 rg BT 507.40 394.10 Td (Agreement. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Covenants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (The New ) Tj ET Q q 0 0 0 rg BT 89.06 358.10 Td (Y) Tj ET Q q 0 0 0 rg BT 95.28 358.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 129.71 358.10 Td (Agreement, the Project Bonds, the Prudential ) Tj ET Q q 0 0 0 rg BT 313.01 358.10 Td (Agreement, and the Credit ) Tj ET Q q 0 0 0 rg BT 421.03 358.10 Td (Agreement contain customary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 346.10 Td (firmative and negative covenants. ) Tj ET Q q 0 0 0 rg BT 194.85 346.10 Td (The af) Tj ET Q q 0 0 0 rg BT 220.49 346.10 Td (firmative covenants relate to financial statements, notices of material events, conduct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (of business, inspection of property) Tj ET Q q 0 0 0 rg BT 187.38 334.10 Td (, maintenance of insurance, compliance with laws and most favored lender obligations. ) Tj ET Q q 0 0 0 rg BT 537.92 334.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (negative covenants include limitations on loans, advances and investments, and the granting of liens by the Company or its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (subsidiaries, as well as prohibitions on certain consolidations, mer) Tj ET Q q 0 0 0 rg BT 314.77 310.10 Td (gers, sales and transfers of assets. ) Tj ET Q q 0 0 0 rg BT 451.22 310.10 Td (The covenants also include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (financial requirements including a maximum leverage ratio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.46 298.10 Td (3.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.96 298.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.74 298.10 Td (1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.24 298.10 Td ( \(using net debt in the measure of leverage ratio, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (whereas the previous credit agreement used gross debt\) and a minimum interest coverage ratio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.25 286.10 Td (3.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.75 286.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.53 286.10 Td (1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.03 286.10 Td ( \(using EBITDA) Tj ET Q q 0 0 0 rg BT 555.14 286.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (in the measure, whereas the previous credit agreement used EBIT\). Cross default is applicable with the Credit ) Tj ET Q q 0 0 0 rg BT 491.25 274.10 Td (Agreement, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (Prudential ) Tj ET Q q 0 0 0 rg BT 93.05 262.10 Td (Agreement, the Project Bonds, and the New ) Tj ET Q q 0 0 0 rg BT 271.25 262.10 Td (Y) Tj ET Q q 0 0 0 rg BT 277.47 262.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 311.90 262.10 Td (Agreement, but only if the Company is defaulting on an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (obligation exceeding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.08 250.10 Td ($10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.98 250.10 Td (. ) Tj ET Q q 0 0 0 rg BT 197.29 250.10 Td (The Company was in compliance with all financial covenants as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.05 250.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.63 250.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (12. SHAREHOLDERS' EQUITY) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Authorized Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (The Company has the authority to issue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.36 190.10 Td (65,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.36 190.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.36 190.10 Td ($.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.86 190.10 Td ( par value shares.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Share Repurchases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 154.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.83 154.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 154.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.83 154.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.77 154.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.77 154.10 Td (, pursuant to a stock repurchase program authorized by the Company) Tj ET Q q 0 0 0 rg BT 446.30 154.10 Td (s Board of Directors, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Company repurchased and retired the following amounts and number of shares:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 104.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 104.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 104.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 104.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 104.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 104.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 104.60 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 104.60000000000002 m 385.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 104.60000000000002 m 473.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 104.60000000000002 m 561.5 104.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 109.27 Td (\(In millions, except share amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 109.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 109.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 109.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 94.27 Td (Repurchases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 94.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 94.27 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 94.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 94.27 Td (46.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 94.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 94.27 Td (9.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 79.27 Td (Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 79.27 Td (144,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 79.27 Td (1,568,731) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 79.27 Td (243,020) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 119 0 obj <> endobj 120 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 742.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 742.10 Td (, the Company retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.53 742.10 Td (96,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.03 742.10 Td ( shares that were received from employees as payment for the exercise price of their stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (options and taxes owed upon the exercise of their stock options and release of their restricted awards.) Tj ET Q q 0 0 0 rg BT 459.97 730.10 Td (The Company also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.59 718.10 Td (16,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.09 718.10 Td ( shares that had been previously granted as stock awards to employees, but were forfeited upon not meeting the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (required restriction criteria or termination. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.93 706.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.93 706.10 Td (, the Company retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.62 706.10 Td (65,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.12 706.10 Td ( shares that were received from employees as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (payment for the exercise price of their stock options and taxes owed upon the exercise of their stock options and release of their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (restricted awards.) Tj ET Q q 0 0 0 rg BT 125.34 682.10 Td (The Company also retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.98 682.10 Td (958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.98 682.10 Td ( shares that had been previously granted as a stock award to employees, but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (were forfeited upon not meeting the required restriction criteria or termination.In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.99 670.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.99 670.10 Td (, the Company retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.68 670.10 Td (40,679) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.18 670.10 Td ( shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (that were received from employees as payment for the exercise price of their stock options and taxes owned upon the exercise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (of their stock options and release of their restricted awards. ) Tj ET Q q 0 0 0 rg BT 291.40 646.10 Td (The Company also retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.04 646.10 Td (68,675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.54 646.10 Td ( shares that had been previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (granted as stock awards to employees, but were forfeited upon not meeting the required restriction criteria or termination. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (In 2015 and 2014, the Company recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.85 610.10 Td ($1.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.74 610.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.18 610.10 Td ($2.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.07 610.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 388.73 610.10 Td (, as a reduction in tax liability and an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (increase to shareholders' equity as a result of stock option exercises and award vests. In 2016, the Company early adopted ) Tj ET Q q 0 0 0 rg BT 541.38 598.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (2016-09 \(refer to Note 2 for additional information\); therefore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.80 586.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.80 586.10 Td ( amounts were recorded to equity as a result of stock option ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (exercises and award vests. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (13. ) Tj ET Q q 0 0 0 rg BT 64.45 550.10 Td (ACCUMULA) Tj ET Q q 0 0 0 rg BT 123.14 550.10 Td (TED OTHER COMPREHENSIVE INCOME/\(LOSS\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Changes in accumulated other comprehensive income/\(loss\), net of tax, by component are summarized below: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 435.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 435.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 435.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 435.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 435.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 435.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 404.60 321.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 404.60 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 404.60 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 404.60 69.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 404.60 6.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 404.60 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 373.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 373.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 373.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 373.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 373.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 373.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 343.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 343.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 343.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 343.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 343.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 343.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 313.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 313.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 313.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 313.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 313.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 313.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 283.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 283.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 283.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 283.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 283.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 283.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 253.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 253.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 253.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 253.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 253.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 253.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 223.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 223.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 223.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 223.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 223.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 223.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 193.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 193.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 193.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 193.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 193.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 193.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 163.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 163.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 163.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 163.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 163.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 163.60 45.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 435.6 m 436.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 435.6 m 510.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 435.6 m 561.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 435.6 m 436.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 435.6 m 510.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 435.6 m 561.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 373.6 m 436.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 373.6 m 510.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 373.6 m 561.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 373.6 m 436.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 358.6 m 436.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 373.6 m 510.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 358.6 m 510.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 373.6 m 561.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 358.6 m 561.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 283.6 m 436.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 283.6 m 510.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 283.6 m 561.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 283.6 m 436.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 268.6 m 436.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 283.6 m 510.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 268.6 m 510.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 283.6 m 561.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 268.6 m 561.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 193.60000000000002 m 436.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 193.60000000000002 m 510.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 193.60000000000002 m 561.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 193.60000000000002 m 436.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 178.60000000000002 m 436.5 178.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 193.60000000000002 m 510.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 178.60000000000002 m 510.5 178.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 193.60000000000002 m 561.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 178.60000000000002 m 561.5 178.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 163.60000000000002 m 436.5 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 149.60000000000002 m 436.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 147.60000000000002 m 436.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 163.60000000000002 m 510.5 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 149.60000000000002 m 510.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 147.60000000000002 m 510.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 163.60000000000002 m 561.5 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 149.60000000000002 m 561.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 147.60000000000002 m 561.5 147.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 440.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.40 470.27 Td (Foreign) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.35 460.27 Td (Currency) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.40 450.27 Td (Translation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.70 440.27 Td (Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 480.27 Td (Pension and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.20 470.27 Td (Post-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.25 460.27 Td (Retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.60 450.27 Td (Plan Benefit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 440.27 Td (Adjustments ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 498.21 444.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.25 440.27 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 425.28 Td (Balance, December 28, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.00 425.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.80 425.33 Td (\(16.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 425.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.00 425.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 425.33 Td (\(38.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 425.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 425.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.80 425.33 Td (\(54.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.65 425.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 393.27 Td (Other comprehensive income/\(loss\) before reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 393.32 Td (\(35.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 393.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 393.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 393.32 Td (\(35.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 393.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 378.27 Td (Amounts reclassified from accumulated other comprehensive income/\(loss\) ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 357.18 382.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 378.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.80 378.32 Td (\(17.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 378.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 378.32 Td (\(17.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 378.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 363.27 Td (Net other comprehensive income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 363.32 Td (\(35.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 363.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.80 363.32 Td (\(17.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 363.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 363.32 Td (\(53.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 363.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 333.28 Td (Balance, January 3, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.00 333.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.80 333.33 Td (\(51.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 333.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.00 333.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 333.33 Td (\(56.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 333.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 333.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 333.33 Td (\(107.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.65 333.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 303.27 Td (Other comprehensive income/\(loss\) before reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 303.32 Td (\(58.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 303.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 303.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 303.32 Td (\(58.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 303.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 288.27 Td (Amounts reclassified from accumulated other comprehensive income/\(loss\) ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 357.18 292.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 288.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 288.27 Td (4.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 288.27 Td (4.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 273.27 Td (Net other comprehensive income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 273.32 Td (\(58.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 273.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 273.27 Td (4.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 273.32 Td (\(53.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 273.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 243.28 Td (Balance, January 2, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.00 243.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.80 243.33 Td (\(110.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 243.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.00 243.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 243.33 Td (\(51.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 243.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 243.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 243.33 Td (\(161.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.65 243.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 213.27 Td (Other comprehensive income/\(loss\) before reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.80 213.32 Td (\(8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 213.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 213.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 213.32 Td (\(8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 213.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 198.27 Td (Amounts reclassified from accumulated other comprehensive income/\(loss\) ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 357.18 202.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 198.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 198.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 198.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 183.27 Td (Net other comprehensive income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.80 183.32 Td (\(8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 183.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 183.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 183.32 Td (\(8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 183.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 153.28 Td (Balance, December 31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.00 153.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.80 153.33 Td (\(118.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 153.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.00 153.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 153.33 Td (\(51.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 153.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 153.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 153.33 Td (\(169.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.65 153.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 63.98 122.10 Td (This accumulated other comprehensive income/\(loss\) component is included in the computation of net periodic pension cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.10 Td (\(refer to Note 8 for additional details\) and is included in the "Selling, general, and administrative expenses" line of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.10 Td (Company's consolidated statements of income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.10 Td (\(2\) Net of tax \(benefit\)/expense of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.38 74.10 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.28 74.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.28 74.10 Td ($2.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.17 74.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.61 74.10 Td ($\(8.6\) million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.16 74.10 Td ( for 2016, 2015, and 2014, respectively) Tj ET Q q 0 0 0 rg BT 523.42 74.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 50.10 Td (Amounts related to noncontrolling interests were not material. ) Tj ET Q endstream endobj 121 0 obj <> endobj 122 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (14. EARNINGS PER SHARE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (The Company calculates basic and diluted earnings per common share using the two-class method. Under the two-class ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (method, net earnings are allocated to each class of common stock and participating security as if all of the net earnings for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (period had been distributed. ) Tj ET Q q 0 0 0 rg BT 166.46 694.10 Td (The Company's participating securities consist of share-based payment awards that contain a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (nonforfeitable right to receive dividends and therefore are considered to participate in undistributed earnings with common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (shareholders. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (Basic earnings per common share excludes dilution and is calculated by dividing net earnings allocable to common shares by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (by dividing net earnings allocated to common shares by the weighted-average number of common shares outstanding for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (period, as adjusted for the potential dilutive ef) Tj ET Q q 0 0 0 rg BT 234.21 610.10 Td (fect of non-participating share-based awards. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (The following table sets forth the computation of basic and diluted earnings per share:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 533.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 533.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 533.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 533.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 493.60 248.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 493.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 493.60 84.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 493.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 493.60 84.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 493.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 493.60 84.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 453.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 453.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 453.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 453.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 423.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 423.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 423.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 423.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 383.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 383.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 383.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 383.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 383.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 383.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 383.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 353.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 353.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 353.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 353.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 353.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 353.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 353.60 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 548.6 m 385.5 548.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 548.6 m 473.5 548.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 548.6 m 561.5 548.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 468.6 m 385.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 468.6 m 473.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 468.6 m 561.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 454.6 m 385.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 452.6 m 385.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 454.6 m 473.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 452.6 m 473.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 454.6 m 561.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 452.6 m 561.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 383.6 m 385.5 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 383.6 m 473.5 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 383.6 m 561.5 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 369.6 m 385.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 367.6 m 385.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 369.6 m 473.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 367.6 m 473.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 369.6 m 561.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 367.6 m 561.5 367.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 553.27 Td (\(In millions, except per share amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 553.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 553.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 553.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 538.27 Td (Numerator:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 538.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 538.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 538.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 523.27 Td (Net income attributable to Franklin Electric Co., Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 523.27 Td (78.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 523.27 Td (72.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 523.27 Td (69.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 508.27 Td (Less: Undistributed earnings allocated to participating) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 498.27 Td (securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 498.27 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 498.27 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 498.27 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 483.27 Td (Less: Undistributed earnings allocated to redeemable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 473.27 Td (noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 473.27 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 473.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 473.27 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 458.27 Td (Net income available to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 458.27 Td (77.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 458.27 Td (71.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 458.27 Td (68.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 443.27 Td (Denominator:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 428.27 Td (Basic weighted average common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 428.27 Td (46.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 428.27 Td (47.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 428.27 Td (47.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 413.27 Td (Effect of dilutive securities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 398.27 Td (Non-participating employee stock options and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 388.27 Td (performance awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 388.27 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 388.27 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 388.27 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 373.27 Td (Diluted weighted average common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 373.27 Td (46.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 373.27 Td (47.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 373.27 Td (48.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 358.27 Td (Basic earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 358.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 358.27 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 358.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 358.27 Td (1.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 358.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 358.27 Td (1.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 343.27 Td (Diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 343.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 343.27 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 343.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 343.27 Td (1.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 343.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 343.27 Td (1.41) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.10 Td (There were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.74 315.10 Td (0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.64 315.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.64 315.10 Td (0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.53 315.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.47 315.10 Td (0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.36 315.10 Td ( stock options outstanding as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.24 315.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.24 315.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.24 315.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.24 315.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.18 315.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.18 315.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 524.84 315.10 Td (, that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 303.10 Td (were excluded from the computation of diluted earnings per share, as their inclusion would be anti-dilutive. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 279.10 Td (15. SHARE-BASED COMPENSA) Tj ET Q q 0 0 0 rg BT 195.11 279.10 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 267.10 Td (The Company maintains the Franklin Electric Co., Inc. 2012 Stock Plan \(the "2012 Stock Plan"\), which is a stock-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 255.10 Td (compensation plan that provides for discretionary grants of stock options, stock awards and stock unit awards to key employees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 243.10 Td (and non-employee directors. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.10 Td (The 2012 Stock Plan authorizes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.70 219.10 Td (2,400,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.70 219.10 Td ( shares for issuance as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 181.60 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 181.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 181.60 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 181.60000000000002 m 309.5 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 181.60000000000002 m 413.5 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 181.60000000000002 m 413.5 181.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.20 186.27 Td (2012 Stock Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.90 186.27 Td (Authorized Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 171.27 Td (Stock Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 171.27 Td (1,680,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.60 156.27 Td (Stock/Stock Unit Awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.75 156.27 Td (720,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.10 Td (The Company also maintains the ) Tj ET Q q 0 0 0 rg BT 183.59 128.10 Td (Amended and Restated Franklin Electric Co., Inc. Stock Plan \(the "2009 Stock Plan"\) which, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.10 Td (as amended in 2009, provided for discretionary grants of stock options and stock awards. ) Tj ET Q q 0 0 0 rg BT 411.12 116.10 Td (The 2009 Stock Plan authorized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.10 Td (4,400,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 104.10 Td ( shares for issuance as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 78.60 115.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 78.60 85.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 78.60000000000002 m 320.5 78.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 78.60000000000002 m 405.5 78.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 78.60000000000002 m 405.5 78.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.70 83.27 Td (2009 Stock Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.40 83.27 Td (Authorized Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 68.27 Td (Stock Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 68.27 Td (3,200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.00 53.27 Td (Stock Awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 53.27 Td (1,200,000) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 123 0 obj <> endobj 124 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (All options in the 2009 Stock Plan have been awarded.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (The Company currently issues new shares from its common stock balance to satisfy option exercises and the settlement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (stock awards and stock unit awards made under the 2009 Stock Plan and/or the 2012 Stock Plan. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (The total share-based compensation expense recognized in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.41 670.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.41 670.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.41 670.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.41 670.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.35 670.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.35 670.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.90 670.10 Td ($6.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.79 670.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.79 670.10 Td ($5.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.68 670.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.62 670.10 Td ($7.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 658.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.55 658.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Stock Options:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Under the above plans, the exercise price of each option equals the market price of the Company) Tj ET Q q 0 0 0 rg BT 439.58 622.10 Td (s common stock on the date of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (grant, and the options expire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.64 610.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.64 610.10 Td ( years after the date of the grant.Options granted to employees vest at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.54 610.10 Td (25 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.46 610.10 Td ( a year and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (become fully vested and fully exercisable after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.64 598.10 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.64 598.10 Td ( years \(vesting is accelerated upon retirement, death, or disability\).Subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (the terms of the plans, in general, the aggregate option exercise price and any applicable tax withholdings may be satisfied in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (cash or its equivalent, by the plan participant) Tj ET Q q 0 0 0 rg BT 232.17 574.10 Td (s delivery of shares of the Company) Tj ET Q q 0 0 0 rg BT 379.36 574.10 Td (s common stock having a fair market value at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (the time of exercise equal to the aggregate option exercise price and/or the applicable tax withholdings or by having shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (otherwise subject to the award withheld by the Company or via cashless exercise through a broker) Tj ET Q q 0 0 0 rg BT 442.74 550.10 Td (-dealer) Tj ET Q q 0 0 0 rg BT 469.94 550.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model with a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (single approach and amortized using a straight-line attribution method over the option) Tj ET Q q 0 0 0 rg BT 396.86 514.10 Td (s vesting period.Options granted to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (retirement eligible employees are immediately expensed.) Tj ET Q q 0 0 0 rg BT 283.06 502.10 Td (The Company uses historical data to estimate the expected volatility ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (of its stock, the weighted average expected life, the period of time options granted are expected to be outstanding, and its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (dividend yield.) Tj ET Q q 0 0 0 rg BT 114.81 478.10 Td (The risk-free rates for periods within the contractual life of the option are based on the U.S. ) Tj ET Q q 0 0 0 rg BT 483.12 478.10 Td (T) Tj ET Q q 0 0 0 rg BT 488.87 478.10 Td (reasury yield ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (curve in ef) Tj ET Q q 0 0 0 rg BT 92.57 466.10 Td (fect at the time of the grant.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (The table below provides the weighted average grant-date fair values and key assumptions used for the Black-Scholes model to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (determine the fair value of options granted during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.60 430.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.60 430.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.60 430.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.60 430.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.54 430.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.54 430.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 392.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 392.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 392.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 392.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 392.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 392.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 392.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 362.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 362.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 362.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 362.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 362.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 362.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 362.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 332.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 332.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 332.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 332.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 332.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 332.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 332.60 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 392.6 m 385.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 392.6 m 473.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 392.6 m 561.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 392.6 m 385.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 392.6 m 473.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 392.6 m 561.5 392.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 397.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 397.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 397.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 397.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 382.27 Td (Risk-free interest rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 382.27 Td (1.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 382.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 382.27 Td (1.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 382.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 382.27 Td (1.68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 382.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 367.27 Td (Dividend yield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 367.27 Td (1.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 367.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 367.27 Td (0.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 367.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 367.27 Td (0.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 367.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 352.27 Td (Volatility factor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 352.27 Td (37.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 352.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 352.27 Td (37.90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 352.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 352.27 Td (38.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 352.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 337.27 Td (Expected term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.90 337.27 Td (5.5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.90 337.27 Td (5.5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.90 337.27 Td (5.6 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 322.27 Td (Weighted average grant-date fair value of options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 322.27 Td (9.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 322.27 Td (12.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 322.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 322.27 Td (15.09) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 294.10 Td ( summary of the Company) Tj ET Q q 0 0 0 rg BT 166.10 294.10 Td (s outstanding stock option activity and related information is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 193.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 193.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 193.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 193.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 193.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 193.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 193.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 193.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 193.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 163.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 163.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 163.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 163.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 163.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 163.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 163.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 163.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 163.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 133.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 133.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 133.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 133.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 133.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 133.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 133.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 133.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 133.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 103.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 103.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 103.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 103.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 103.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 103.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 103.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 103.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 103.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 193.60000000000002 m 265.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 193.60000000000002 m 339.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 193.60000000000002 m 413.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 193.60000000000002 m 487.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 193.60000000000002 m 561.5 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 118.60000000000002 m 339.5 118.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 118.60000000000002 m 413.5 118.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 118.60000000000002 m 487.5 118.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 118.60000000000002 m 561.5 118.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 104.60000000000002 m 339.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 102.60000000000002 m 339.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 104.60000000000002 m 413.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 102.60000000000002 m 413.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 104.60000000000002 m 487.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 102.60000000000002 m 487.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 104.60000000000002 m 561.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 102.60000000000002 m 561.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 102.60000000000002 m 339.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 104.60000000000002 m 339.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 89.60000000000002 m 339.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 87.60000000000002 m 339.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 102.60000000000002 m 413.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 104.60000000000002 m 413.5 104.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 89.60000000000002 m 413.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 87.60000000000002 m 413.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 89.60000000000002 m 487.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 87.60000000000002 m 487.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 89.60000000000002 m 561.5 89.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 87.60000000000002 m 561.5 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 74.60000000000002 m 339.5 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 72.60000000000002 m 339.5 72.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 74.60000000000002 m 413.5 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 72.60000000000002 m 413.5 72.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 74.60000000000002 m 487.5 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 72.60000000000002 m 487.5 72.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 74.60000000000002 m 561.5 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 72.60000000000002 m 561.5 72.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 261.27 Td (\(Shares in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 218.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 208.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 198.27 Td (Stock Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 198.27 Td (Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.25 218.27 Td (Weighted-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.40 208.27 Td (Average) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.25 198.27 Td (Exercise Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.25 238.27 Td (Weighted-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.40 228.27 Td (Average) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.05 218.27 Td (Remaining) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.65 208.27 Td (Contractual) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 198.27 Td (Term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 218.27 Td (Aggregate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.75 208.27 Td (Intrinsic ) Tj ET Q q 0 0 0 rg BT 532.39 208.27 Td (V) Tj ET Q q 0 0 0 rg BT 538.51 208.27 Td (alue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.80 198.27 Td (\(000) Tj ET Q q 0 0 0 rg BT 532.91 198.27 Td (s\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 183.27 Td (Outstanding at beginning of 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 183.27 Td (1,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 183.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 183.27 Td (23.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 183.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 183.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 168.27 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 168.27 Td (265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 168.27 Td (29.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 168.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 168.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 153.27 Td (Exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.30 153.32 Td (\(273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 153.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 153.27 Td (19.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 153.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 153.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 138.27 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.30 138.32 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 138.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 138.27 Td (33.68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 138.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 138.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 123.27 Td (Expired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.30 123.32 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 123.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 123.27 Td (43.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 108.27 Td (Outstanding at end of 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 108.27 Td (1,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 108.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 108.27 Td (25.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.90 108.27 Td (5.50 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 108.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 108.27 Td (20,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 93.27 Td (Expected to vest after applying forfeiture rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 93.27 Td (1,433) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 93.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 93.27 Td (24.92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.90 93.27 Td (5.45 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 93.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 93.27 Td (20,433) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 78.27 Td (Vested and exercisable at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 78.27 Td (977) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 78.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 78.27 Td (21.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.90 78.27 Td (4.05 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 78.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 78.27 Td (17,548) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 125 0 obj <> endobj 126 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (62) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 734.50 248.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 734.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 734.50 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 734.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 734.50 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 734.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 734.50 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 706.50 248.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 706.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 706.50 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 706.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 706.50 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 706.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 706.50 84.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 734.5 m 386.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 734.5 m 474.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 734.5 m 562.5 734.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 739.07 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.00 739.07 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.00 739.07 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 739.07 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 725.07 Td (Intrinsic value of options exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 725.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 725.07 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.00 725.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 725.07 Td (1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 725.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 725.07 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 711.07 Td (Cash received from the exercise of options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 711.07 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 711.07 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 711.07 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 697.07 Td (Fair value of shares vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 697.07 Td (1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 697.07 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 697.07 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 683.07 Td (Tax benefit of options exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 683.07 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 683.07 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 683.07 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 655.00 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 655.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 655.00 Td (, there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.56 655.00 Td ($1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.46 655.00 Td ( of total unrecognized compensation cost related to non-vested stock options ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.00 Td (granted under the 2012 Stock Plan.) Tj ET Q q 0 0 0 rg BT 195.35 643.00 Td (That cost is expected to be recognized over a weighted-average period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.21 643.00 Td (2.15 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.31 643.00 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 619.00 Td (Stock/Stock Unit ) Tj ET Q q 0 0 0 rg BT 121.30 619.00 Td (A) Tj ET Q q 0 0 0 rg BT 127.23 619.00 Td (wards:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.00 Td (Under the 2009 Stock Plan, non-employee directors and employees may be granted stock awards. Under the 2012 Stock Plan, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.00 Td (non-employee directors and employees may be granted stock awards and stock units.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.00 Td (Stock awards to non-employee directors are generally fully vested when made.Stock/stock unit awards to employees clif) Tj ET Q q 0 0 0 rg BT 537.45 571.00 Td (f vest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.00 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.27 559.00 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.27 559.00 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.60 559.00 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.60 559.00 Td ( years \(subject to accelerated vesting of a pro rata portion in the case of retirement, death or disability\) and may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.00 Td (contingent on the attainment of certain performance goals. Dividends are paid to the recipient prior to vesting, except that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.00 Td (dividends on performance-based stock awards under the 2012 Stock Plan will be paid only to the extent the performance goals ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.00 Td (are met. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.00 Td (Stock/stock unit awards granted to retirement eligible employees are expensed over the vesting period. Compensation cost for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.00 Td (the performance stock/stock unit awards is accrued based on the probable outcome of specified performance conditions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.00 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 463.00 Td ( summary of the Company) Tj ET Q q 0 0 0 rg BT 166.10 463.00 Td (s restricted stock/stock unit award activity and related information is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 370.50 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 370.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 370.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 370.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 370.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 340.50 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 340.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 340.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 340.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 340.50 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 385.5 m 473.5 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 385.5 m 561.5 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 325.5 m 473.5 325.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 325.5 m 561.5 325.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 311.5 m 473.5 311.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 309.5 m 473.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 311.5 m 561.5 311.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 309.5 m 561.5 309.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 430.17 Td (\(Shares in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 390.17 Td (Restricted Stock/Stock Unit Awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 400.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 390.17 Td (Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.70 410.17 Td (W) Tj ET Q q 0 0 0 rg BT 490.34 410.17 Td (eighted-A) Tj ET Q q 0 0 0 rg BT 529.58 410.17 Td (verage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.95 400.17 Td (Grant-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.70 390.17 Td (Date Fair ) Tj ET Q q 0 0 0 rg BT 527.50 390.17 Td (V) Tj ET Q q 0 0 0 rg BT 533.62 390.17 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 375.17 Td (Non-vested at beginning of 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 375.17 Td (510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 375.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 375.17 Td (34.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 360.17 Td (Awarded) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 360.17 Td (172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 360.17 Td (29.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 345.17 Td (Vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 345.22 Td (\(175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 345.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 345.17 Td (28.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 330.17 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 330.22 Td (\(34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 330.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 330.17 Td (34.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 315.17 Td (Non-vested at end of 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 315.17 Td (473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 315.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 315.17 Td (34.89) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.00 Td (The weighted-average grant date fair value of restricted stock/stock unit awards granted in 2016, 2015, and 2014, is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.13 287.00 Td ($29.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.63 287.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.00 Td ($36.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 275.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.44 275.00 Td ($42.39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.94 275.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 179.60 275.00 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.00 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 251.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 251.00 Td (, there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.56 251.00 Td ($8.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.46 251.00 Td ( of total unrecognized compensation cost related to non-vested stock/stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.00 Td (unit awards granted under the 2012 Stock Plan and the 2009 Stock Plan.) Tj ET Q q 0 0 0 rg BT 343.94 239.00 Td (That cost is expected to be recognized over a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.00 Td (weighted-average period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.45 227.00 Td (2.21 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.54 227.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 203.00 Td (16. SEGMENT) Tj ET Q q 0 0 0 rg BT 114.83 203.00 Td ( ) Tj ET Q q 0 0 0 rg BT 116.78 203.00 Td (AND GEOGRAPHIC INFORMA) Tj ET Q q 0 0 0 rg BT 261.03 203.00 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.00 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 191.00 Td (s business consists of the ) Tj ET Q q 0 0 0 rg BT 212.03 191.00 Td (W) Tj ET Q q 0 0 0 rg BT 220.67 191.00 Td (ater Systems and Fueling Systems reportable segments, based on the principal end ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.00 Td (market served. ) Tj ET Q q 0 0 0 rg BT 113.68 179.00 Td (W) Tj ET Q q 0 0 0 rg BT 122.72 179.00 Td (ithin the ) Tj ET Q q 0 0 0 rg BT 158.09 179.00 Td (W) Tj ET Q q 0 0 0 rg BT 166.73 179.00 Td (ater Systems segment, North ) Tj ET Q q 0 0 0 rg BT 283.66 179.00 Td (America ) Tj ET Q q 0 0 0 rg BT 320.40 179.00 Td (W) Tj ET Q q 0 0 0 rg BT 329.04 179.00 Td (ater Systems and International ) Tj ET Q q 0 0 0 rg BT 452.71 179.00 Td (W) Tj ET Q q 0 0 0 rg BT 461.35 179.00 Td (ater Systems have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.00 Td (identified as operating segments. For reporting segment purposes, the Company aggregates North ) Tj ET Q q 0 0 0 rg BT 445.19 167.00 Td (America ) Tj ET Q q 0 0 0 rg BT 481.93 167.00 Td (W) Tj ET Q q 0 0 0 rg BT 490.57 167.00 Td (ater Systems and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.00 Td (International ) Tj ET Q q 0 0 0 rg BT 103.41 155.00 Td (W) Tj ET Q q 0 0 0 rg BT 112.05 155.00 Td (ater Systems into the ) Tj ET Q q 0 0 0 rg BT 197.96 155.00 Td (W) Tj ET Q q 0 0 0 rg BT 206.60 155.00 Td (ater Systems segment, as they meet the aggregation criteria in F) Tj ET Q q 0 0 0 rg BT 461.06 155.00 Td (ASB ) Tj ET Q q 0 0 0 rg BT 482.46 155.00 Td (ASC 280. ) Tj ET Q q 0 0 0 rg BT 524.23 155.00 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.00 Td (Company includes unallocated corporate expenses and inter) Tj ET Q q 0 0 0 rg BT 289.72 143.00 Td (-company eliminations in an Other segment that together with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.00 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 131.00 Td (ater Systems and Fueling Systems segments, represent the Company) Tj ET Q q 0 0 0 rg BT 332.11 131.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.00 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 107.00 Td (W) Tj ET Q q 0 0 0 rg BT 76.50 107.00 Td (ater Systems segment designs, manufactures and sells motors, pumps, electronic controls and related parts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.00 Td (equipment primarily for use in submersible water and other fluid system applications. ) Tj ET Q q 0 0 0 rg BT 397.51 95.00 Td (The Fueling Systems segment designs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.00 Td (manufactures and sells pumps, electronic controls and related parts and equipment primarily for use in submersible fueling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.00 Td (system applications. ) Tj ET Q q 0 0 0 rg BT 135.92 71.00 Td (The Fueling Systems segment integrates and sells motors and electronic controls produced by the ) Tj ET Q q 0 0 0 rg BT 527.87 71.00 Td (W) Tj ET Q q 0 0 0 rg BT 536.51 71.00 Td (ater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.00 Td (Systems segment.) Tj ET Q endstream endobj 127 0 obj <> endobj 128 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The accounting policies of the Company's reportable segments are the same as those described in Note 1 \(Summary of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 95.83 730.10 Td (Accounting Policies\). Performance is evaluated based on the sales and operating income of the segments and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (variety of ratios to measure performance. ) Tj ET Q q 0 0 0 rg BT 219.75 718.10 Td (These results are not necessarily indicative of the results of operations that would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (have occurred had each segment been an independent, stand-alone entity during the periods presented.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Financial information by reportable business segment is included in the following summary:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 629.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 629.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 629.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 629.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 629.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 629.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 629.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 629.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 629.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 629.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 629.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 629.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 599.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 599.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 599.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 599.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 599.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 599.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 599.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 599.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 599.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 599.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 599.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 599.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 524.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 524.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 524.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 524.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 524.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 524.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 524.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 494.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 494.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 494.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 494.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 494.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 494.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 494.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 494.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 494.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 494.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 494.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 494.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 419.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 419.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 419.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 419.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 419.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 419.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 419.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 419.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 419.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 419.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 419.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 419.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 389.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 389.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.50 389.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 389.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 389.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 389.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 389.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 389.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 389.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 389.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 389.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 389.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 659.6 m 216.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 644.6 m 216.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 659.6 m 220.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 644.6 m 220.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 659.6 m 285.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 644.6 m 285.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 659.6 m 289.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 644.6 m 289.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 659.6 m 354.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 644.6 m 354.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 659.6 m 423.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 644.6 m 423.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 659.6 m 427.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 644.6 m 427.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 659.6 m 492.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 644.6 m 492.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 659.6 m 496.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 644.6 m 496.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 659.6 m 561.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 644.6 m 561.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 644.6 m 216.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 629.6 m 216.5 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 644.6 m 285.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 629.6 m 285.5 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 644.6 m 354.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 629.6 m 354.5 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 644.6 m 423.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 629.6 m 423.5 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 644.6 m 492.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 629.6 m 492.5 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 644.6 m 561.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 629.6 m 561.5 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 584.6 m 216.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 584.6 m 285.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 584.6 m 354.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 584.6 m 423.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 584.6 m 492.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 584.6 m 561.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 570.6 m 216.5 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 568.6 m 216.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 584.6 m 285.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 570.6 m 285.5 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 568.6 m 285.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 584.6 m 354.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 570.6 m 354.5 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 568.6 m 354.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 570.6 m 423.5 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 568.6 m 423.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 570.6 m 492.5 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 568.6 m 492.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 570.6 m 561.5 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 568.6 m 561.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 554.6 m 216.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 539.6 m 216.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 554.6 m 220.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 539.6 m 220.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 554.6 m 285.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 539.6 m 285.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 554.6 m 289.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 539.6 m 289.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 554.6 m 354.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 539.6 m 354.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 554.6 m 423.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 539.6 m 423.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 554.6 m 427.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 539.6 m 427.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 554.6 m 492.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 539.6 m 492.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 554.6 m 496.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 539.6 m 496.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 554.6 m 561.5 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 539.6 m 561.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 524.6 m 216.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 524.6 m 285.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 524.6 m 354.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 539.6 m 423.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 524.6 m 423.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 539.6 m 492.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 524.6 m 492.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 524.6 m 496.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 539.6 m 561.5 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 524.6 m 561.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 524.6 m 354.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 479.6 m 216.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 479.6 m 285.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 479.6 m 354.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 479.6 m 423.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 479.6 m 492.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 479.6 m 561.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 465.6 m 216.5 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 463.6 m 216.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 465.6 m 285.5 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 463.6 m 285.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 465.6 m 354.5 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 463.6 m 354.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 465.6 m 423.5 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 463.6 m 423.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 465.6 m 492.5 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 463.6 m 492.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 465.6 m 561.5 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 463.6 m 561.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 449.6 m 216.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 434.6 m 216.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 449.6 m 220.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216.5 434.6 m 220.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 449.6 m 285.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 434.6 m 285.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 449.6 m 289.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 434.6 m 289.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 449.6 m 354.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 434.6 m 354.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 449.6 m 423.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 434.6 m 423.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 449.6 m 427.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 434.6 m 427.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 449.6 m 492.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 434.6 m 492.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 449.6 m 496.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 434.6 m 496.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 449.6 m 561.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 434.6 m 561.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 434.6 m 216.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 419.6 m 216.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 434.6 m 285.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 419.6 m 285.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 434.6 m 354.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 419.6 m 354.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 434.6 m 423.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 419.6 m 423.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 434.6 m 492.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 419.6 m 492.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 434.6 m 561.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 419.6 m 561.5 419.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 374.6 m 216.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 374.6 m 285.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 374.6 m 354.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 374.6 m 423.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 374.6 m 492.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 374.6 m 561.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 360.6 m 216.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151.5 358.6 m 216.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 360.6 m 285.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 358.6 m 285.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 360.6 m 354.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 358.6 m 354.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 360.6 m 423.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 358.6 m 423.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 360.6 m 492.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 358.6 m 492.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 360.6 m 561.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 358.6 m 561.5 358.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 649.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.25 649.27 Td (Net sales to external customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 649.27 Td (Operating income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 634.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.50 634.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 634.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 634.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 634.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 634.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 634.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 619.27 Td (Water Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.00 619.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.15 619.27 Td (723.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.00 619.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 619.27 Td (707.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 619.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 619.27 Td (824.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 619.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 619.27 Td (108.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 619.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 619.27 Td (86.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 619.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 619.27 Td (103.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 604.27 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.15 604.27 Td (226.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 604.27 Td (217.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 604.27 Td (223.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 604.27 Td (56.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 604.27 Td (51.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 604.27 Td (49.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 589.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.65 589.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 589.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.65 589.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 589.32 Td (\(53.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 589.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 589.32 Td (\(47.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 589.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 589.32 Td (\(53.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 589.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 574.27 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.15 574.27 Td (949.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 574.27 Td (924.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 574.27 Td (1,047.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 574.27 Td (110.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 574.27 Td (90.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 574.27 Td (100.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 544.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.35 545.17 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 544.27 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.50 530.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 530.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 530.17 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 529.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 529.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 529.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 514.27 Td (Water Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.00 514.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.15 514.27 Td (671.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.00 514.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 514.27 Td (677.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 514.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 514.27 Td (757.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 514.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 514.27 Td (19.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 514.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 514.27 Td (19.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 514.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 514.27 Td (19.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 499.27 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.15 499.27 Td (251.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 499.27 Td (248.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 499.27 Td (252.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 499.27 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 499.27 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 499.27 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 484.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.15 484.27 Td (117.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.15 484.27 Td (70.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 484.27 Td (65.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 484.27 Td (5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 484.27 Td (4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 484.27 Td (5.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 469.27 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.00 469.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.65 469.27 Td (1,039.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.00 469.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 469.27 Td (996.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 469.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 469.27 Td (1,075.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 469.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 469.27 Td (27.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 469.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 469.27 Td (26.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 469.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 469.27 Td (28.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 439.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.80 439.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.25 439.27 Td (Capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.50 424.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 424.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.50 424.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 424.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 424.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 424.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 409.27 Td (Water Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.00 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.15 409.27 Td (6.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.00 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 409.27 Td (6.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 409.27 Td (7.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 409.27 Td (31.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 409.27 Td (19.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 409.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 409.27 Td (33.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 394.27 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.15 394.27 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 394.27 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 394.27 Td (1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 394.27 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 394.27 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 394.27 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 379.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.15 379.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 379.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 379.27 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 379.27 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 379.27 Td (5.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 379.27 Td (4.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 364.27 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.00 364.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.15 364.27 Td (8.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.00 364.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 364.27 Td (8.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 364.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 364.27 Td (9.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 364.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 364.27 Td (37.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 364.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 364.27 Td (25.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 364.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 364.27 Td (42.4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.10 Td (Cash is the major asset group in "Other" of total assets at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.34 336.10 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.93 336.10 Td (. Property) Tj ET Q q 0 0 0 rg BT 400.21 336.10 Td (, plant and equipment is the major asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.10 Td (group in "Other" of total assets at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.19 324.10 Td (January2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.79 324.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.10 Td (Financial information by geographic region is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 247.60 121.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 170.50 247.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 247.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 247.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 247.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 247.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 247.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 247.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 247.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 247.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 247.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 247.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 217.60 121.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 170.50 217.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 217.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 217.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 217.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 217.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 217.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 217.60 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 217.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 217.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 217.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 217.60 62.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 277.6 m 232.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 262.6 m 232.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 277.6 m 236.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 262.6 m 236.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 277.6 m 297.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 262.6 m 297.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 277.6 m 301.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 262.6 m 301.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 277.6 m 363.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 262.6 m 363.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 277.6 m 428.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 262.6 m 428.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 277.6 m 432.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 262.6 m 432.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 277.6 m 494.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 262.6 m 494.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 277.6 m 499.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 262.6 m 499.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 277.6 m 561.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 262.6 m 561.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 262.6 m 232.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 247.60000000000002 m 232.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 262.6 m 297.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 247.60000000000002 m 297.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 262.6 m 363.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 247.60000000000002 m 363.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 262.6 m 428.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 247.60000000000002 m 428.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 262.6 m 494.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 247.60000000000002 m 494.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 262.6 m 499.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 247.60000000000002 m 499.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 262.6 m 561.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 247.60000000000002 m 561.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 247.60000000000002 m 561.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 217.60000000000002 m 232.5 217.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 217.60000000000002 m 297.5 217.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 217.60000000000002 m 363.5 217.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 217.60000000000002 m 428.5 217.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 217.60000000000002 m 494.5 217.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 217.60000000000002 m 499.5 217.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 217.60000000000002 m 561.5 217.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 203.60000000000002 m 232.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 201.60000000000002 m 232.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 203.60000000000002 m 297.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 201.60000000000002 m 297.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 203.60000000000002 m 363.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 201.60000000000002 m 363.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 203.60000000000002 m 428.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 201.60000000000002 m 428.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 203.60000000000002 m 494.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 201.60000000000002 m 494.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 203.60000000000002 m 499.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 201.60000000000002 m 499.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 203.60000000000002 m 561.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 201.60000000000002 m 561.5 201.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 267.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.30 267.27 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.85 267.27 Td (Long-lived assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 252.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 252.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 252.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 252.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 252.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 252.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 252.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 237.27 Td (United States) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.00 237.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 237.27 Td (446.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 237.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 237.27 Td (418.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 237.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 237.27 Td (485.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 237.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 237.27 Td (349.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 237.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 237.27 Td (404.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 237.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 237.27 Td (418.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 222.27 Td (Foreign) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 222.27 Td (503.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 222.27 Td (506.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 222.27 Td (562.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 222.27 Td (202.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 222.27 Td (150.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 222.27 Td (184.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 207.27 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 207.27 Td (949.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 207.27 Td (924.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 207.27 Td (1,047.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 207.27 Td (551.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 207.27 Td (554.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 207.27 Td (602.4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.10 Td (Net sales are attributed to geographic regions based upon the ship to location of the customer) Tj ET Q q 0 0 0 rg BT 421.84 179.10 Td (. Long-lived assets are attributed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.10 Td (to geographic regions based upon the country of domicile. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.10 Td (The Company of) Tj ET Q q 0 0 0 rg BT 117.58 143.10 Td (fers a lar) Tj ET Q q 0 0 0 rg BT 152.38 143.10 Td (ge array of products and systems to multiple markets and customers. Product sales information is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.10 Td (tracked regionally and products are categorized dif) Tj ET Q q 0 0 0 rg BT 253.06 131.10 Td (ferently between regions based on local needs and reporting requirements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.10 Td (However) Tj ET Q q 0 0 0 rg BT 86.25 119.10 Td (, net sales by segment are representative of the Company's sales by major product category) Tj ET Q q 0 0 0 rg BT 449.23 119.10 Td (. ) Tj ET Q q 0 0 0 rg BT 454.05 119.10 Td (The Company sells its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.10 Td (products through various distribution channels including wholesale and retail distributors, specialty distributors, industrial and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.10 Td (petroleum equipment distributors, as well as major oil and utility companies and original equipment manufacturers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.22 71.10 Td ( single customer accounted for more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.22 71.10 Td (10 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.14 71.10 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 341.86 71.10 Td (s consolidated sales in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.51 71.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.51 71.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.51 71.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.51 71.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.34 71.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.34 71.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.84 71.10 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.06 71.10 Td ( single ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.10 Td (customer accounted for more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.11 59.10 Td (10 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.04 59.10 Td ( of the Company's gross accounts receivable in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.12 59.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.12 59.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.45 59.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.45 59.10 Td (.) Tj ET Q endstream endobj 129 0 obj <> endobj 130 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (64) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (17. COMMITMENTS ) Tj ET Q q 0 0 0 rg BT 146.95 742.25 Td (AND CONTINGENCIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (The Company is defending various claims and legal actions which have arisen in the ordinary course of business. In the opinion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (of management, based on current knowledge of the facts and after discussion with counsel, these claims and legal actions can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (be defended or resolved without a material ef) Tj ET Q q 0 0 0 rg BT 231.13 706.25 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 317.50 706.25 Td (s financial position, results of operations, and net cash flows.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 682.25 Td (otal rent expense char) Tj ET Q q 0 0 0 rg BT 142.69 682.25 Td (ged to operations for operating leases including contingent rentals was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.05 682.25 Td ($1) Tj ET Q q 0 0 0 rg BT 436.68 682.25 Td (1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.57 682.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.57 682.25 Td ($1) Tj ET Q q 0 0 0 rg BT 495.20 682.25 Td (1.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.09 682.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td ($12.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 670.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.67 670.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.67 670.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.67 670.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.67 670.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.61 670.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.61 670.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 256.27 670.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (The future minimum rental payments for non-cancelable operating leases as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.38 646.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.97 646.25 Td (, are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 609.75 179.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 609.75 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 609.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 609.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 609.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 609.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 609.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 609.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 609.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 609.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 609.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 609.75 60.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 609.75 m 286.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 609.75 m 336.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 609.75 m 385.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 609.75 m 434.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 609.75 m 483.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 609.75 m 487.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 609.75 m 547.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 609.75 m 286.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 609.75 m 336.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 609.75 m 385.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 609.75 m 434.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 609.75 m 483.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 609.75 m 487.5 609.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 609.75 m 547.5 609.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 614.32 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.00 614.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.00 614.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 614.32 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.50 614.32 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 614.32 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 614.32 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 600.32 Td (Future minimum rental payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 600.32 Td (7.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.15 600.32 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 600.32 Td (4.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 600.32 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 600.32 Td (1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 600.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 600.32 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 572.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 572.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.08 572.25 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.13 572.25 Td ($10.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.02 572.25 Td ( of commitments primarily for capital expenditures and the purchase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 560.25 Td (raw materials to be used in production.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 536.25 Td (The changes in the carrying amount of the warranty accrual, as recorded in the "Accrued expenses and other current liabilities" ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 524.25 Td (line of the Company's consolidated balance sheets for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.29 524.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.29 524.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.73 524.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.73 524.25 Td (, are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 512.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 486.75 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 486.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 486.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 486.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 486.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 456.75 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 456.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 456.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 456.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 456.75 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 486.75 m 473.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 486.75 m 561.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 486.75 m 473.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 486.75 m 561.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 441.75 m 473.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 441.75 m 561.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 427.75 m 473.5 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 425.75 m 473.5 425.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 427.75 m 561.5 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 425.75 m 561.5 425.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 491.42 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 491.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 491.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 476.42 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 476.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 476.42 Td (9.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 476.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 476.42 Td (9.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 461.42 Td (Accruals related to product warranties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 461.42 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 461.42 Td (7.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 446.42 Td (Reductions for payments made) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 446.47 Td (\(7.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 446.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 446.47 Td (\(7.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 446.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 431.42 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 431.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 431.42 Td (8.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 431.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 431.42 Td (9.3) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 403.25 Td (18. RESTRUCTURING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.25 Td (On July 1, 2014, the Company announced a plan to close its ) Tj ET Q q 0 0 0 rg BT 292.56 391.25 Td (W) Tj ET Q q 0 0 0 rg BT 301.60 391.25 Td (ittlich, Germany manufacturing facility and to complete other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.25 Td (European based business units and facilities realignments. ) Tj ET Q q 0 0 0 rg BT 284.76 379.25 Td (The realignments as of the end of 2016 are considered to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.25 Td (substantially completed. In total, the Company had previously estimated the cost for these European realignments to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 355.25 Td ($19.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.15 355.25 Td (. ) Tj ET Q q 0 0 0 rg BT 171.47 355.25 Td (The Company actually incurred expenses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.30 355.25 Td ($17.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.19 355.25 Td (. Char) Tj ET Q q 0 0 0 rg BT 430.95 355.25 Td (ges for the realignment included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.25 Td (severance expenses, professional service fees, asset write-of) Tj ET Q q 0 0 0 rg BT 290.27 343.25 Td (fs and manufacturing equipment relocation costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.25 Td (Costs incurred in the twelve months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.02 319.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.61 319.25 Td (, included in the Restructuring \(income\)/expense line of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.25 Td (Company's consolidated statements of income, are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 269.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 269.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 269.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 269.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 269.75 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 269.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 269.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 269.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 269.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 239.75 201.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 239.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 239.75 74.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 239.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 239.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 239.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 239.75 74.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 239.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 239.75 74.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 210.75 201.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 210.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 210.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 210.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 210.75 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.50 210.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 210.75 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 210.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 210.75 74.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 269.75 m 328.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 269.75 m 405.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 269.75 m 483.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 269.75 m 561.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 269.75 m 328.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 269.75 m 405.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 269.75 m 483.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 269.75 m 561.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 210.75 m 328.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 210.75 m 405.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 210.75 m 483.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 196.75 m 328.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 194.75 m 328.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 196.75 m 405.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 194.75 m 405.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 196.75 m 483.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 194.75 m 483.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 210.75 m 561.5 210.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 196.75 m 561.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 194.75 m 561.5 194.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 274.42 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.25 274.42 Td (Water Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.30 274.42 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.60 274.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.60 275.32 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 259.42 Td (Employee severance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 259.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 259.42 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 259.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 259.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 259.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 259.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 259.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 259.42 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 244.42 Td (Equipment relocation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 244.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 244.42 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 244.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 244.42 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 230.32 Td (Asset write-off, net of gain on disposal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.80 230.37 Td (\(2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.65 230.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 230.32 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 230.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 230.37 Td (\(1.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 230.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 215.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 215.42 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 215.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 215.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 215.42 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 200.42 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 200.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.80 200.47 Td (\(1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.65 200.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 200.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 200.42 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 200.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 200.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 200.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 200.47 Td (\(0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 200.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (Restructuring expenses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.36 172.25 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.25 172.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.69 172.25 Td ($16.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.58 172.25 Td ( were incurred in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.11 172.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.11 172.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.54 172.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.54 172.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 461.21 172.25 Td (, primarily for the ) Tj ET Q q 0 0 0 rg BT 534.61 172.25 Td (W) Tj ET Q q 0 0 0 rg BT 543.25 172.25 Td (ater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (Systems realignment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 136.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 136.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.47 136.25 Td (January2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.06 136.25 Td (, there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.48 136.25 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.48 136.25 Td ( material restructuring reserves.) Tj ET Q endstream endobj 131 0 obj <> endobj 132 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (19. SELECTED QUAR) Tj ET Q q 0 0 0 rg BT 149.95 742.25 Td (TERL) Tj ET Q q 0 0 0 rg BT 176.26 742.25 Td (Y) Tj ET Q q 0 0 0 rg BT 183.11 742.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.73 742.25 Td ( DA) Tj ET Q q 0 0 0 rg BT 257.93 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 263.86 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 270.53 742.25 Td ( \(UNAUDITED\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (Unaudited quarterly financial information for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.10 730.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 730.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.54 730.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.54 730.25 Td (, is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 622.75 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 622.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 622.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 622.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 622.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 622.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 622.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 622.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 622.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 622.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 622.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 622.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 592.75 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 592.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 592.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 592.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 592.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 592.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 592.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 592.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 592.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 592.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 592.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 592.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 562.75 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 562.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 562.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 562.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 562.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 562.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 562.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 562.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 562.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 562.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 562.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 562.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 517.75 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 517.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 517.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 517.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 517.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 517.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 517.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 517.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 517.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 517.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 517.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 517.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 487.75 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 487.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 487.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 487.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 487.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 487.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 487.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 487.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 487.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 487.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 487.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 487.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 457.75 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 457.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 457.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 457.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 457.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 457.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 457.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 457.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 457.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 457.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 457.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 457.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 637.75 m 217.5 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 637.75 m 286.5 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 637.75 m 355.5 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 637.75 m 424.5 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 637.75 m 493.5 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 637.75 m 562.5 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 622.75 m 152.5 622.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 637.75 m 355.5 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 562.75 m 217.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 562.75 m 286.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 562.75 m 355.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 562.75 m 424.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 562.75 m 493.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 562.75 m 562.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 562.75 m 217.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 548.75 m 217.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 546.75 m 217.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 562.75 m 286.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 548.75 m 286.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 546.75 m 286.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 562.75 m 355.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 548.75 m 355.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 546.75 m 355.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 562.75 m 424.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 548.75 m 424.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 546.75 m 424.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 562.75 m 493.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 548.75 m 493.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 546.75 m 493.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 562.75 m 562.5 562.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 548.75 m 562.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 546.75 m 562.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 517.75 m 152.5 517.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 457.75 m 217.5 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 457.75 m 286.5 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 457.75 m 355.5 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 457.75 m 424.5 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 457.75 m 493.5 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 443.75 m 217.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 441.75 m 217.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 443.75 m 286.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 441.75 m 286.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 443.75 m 355.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 441.75 m 355.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 443.75 m 424.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 441.75 m 424.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 457.75 m 493.5 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 443.75 m 493.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 441.75 m 493.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 457.75 m 562.5 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 443.75 m 562.5 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 441.75 m 562.5 441.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 697.42 Td (\(In millions, except per share amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 642.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.50 652.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.45 642.42 Td (Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.50 652.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.15 642.42 Td (Gross Profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.00 642.42 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 682.42 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.20 672.42 Td (Attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.55 662.42 Td (Franklin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.35 652.42 Td (Electric Co.,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.85 642.42 Td (Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.35 662.42 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.80 652.42 Td (Earnings Per) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 642.42 Td (Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 682.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 672.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.50 662.42 Td (Diluted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.80 652.42 Td (Earnings Per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.10 642.42 Td (Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.00 627.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 627.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.00 627.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 627.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 628.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 627.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 628.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 612.42 Td (1st quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 612.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 612.42 Td (218.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.00 612.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 612.42 Td (74.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 612.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 612.42 Td (13.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 612.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 612.42 Td (13.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 612.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 612.42 Td (0.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 612.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 612.42 Td (0.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 597.42 Td (2nd quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 597.42 Td (252.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 597.42 Td (90.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 597.42 Td (24.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 597.42 Td (24.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 597.42 Td (0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 597.42 Td (0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 582.42 Td (3rd quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 582.42 Td (239.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 582.42 Td (85.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 582.42 Td (23.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 582.42 Td (23.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 582.42 Td (0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 582.42 Td (0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 567.42 Td (4th quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 567.42 Td (239.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 567.42 Td (81.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 567.42 Td (17.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 567.42 Td (17.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 567.42 Td (0.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 567.42 Td (0.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 552.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 552.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 552.42 Td (949.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.00 552.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 552.42 Td (331.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 552.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 552.42 Td (79.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 552.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 552.42 Td (78.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 552.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 552.42 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 552.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 552.42 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.00 522.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 522.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 507.42 Td (1st quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 507.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 507.42 Td (225.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.00 507.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 507.42 Td (71.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 507.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 507.42 Td (20.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 507.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 507.42 Td (19.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 507.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 507.42 Td (0.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 507.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 507.42 Td (0.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 492.42 Td (2nd quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 492.42 Td (247.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 492.42 Td (80.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 492.42 Td (16.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 492.42 Td (16.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 492.42 Td (0.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 492.42 Td (0.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 477.42 Td (3rd quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 477.42 Td (232.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 477.42 Td (76.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 477.42 Td (21.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 477.42 Td (20.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 477.42 Td (0.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 477.42 Td (0.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 462.42 Td (4th quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 462.42 Td (219.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 462.42 Td (69.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 462.42 Td (16.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 462.42 Td (16.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 462.42 Td (0.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 462.42 Td (0.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.00 447.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 447.42 Td (924.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 447.42 Td (297.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 447.42 Td (73.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 447.42 Td (72.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 447.42 Td (1.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 447.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 447.42 Td (1.50) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.25 Td (Basic and diluted earnings per share amounts are computed independently for each of the quarters presented.) Tj ET Q q 0 0 0 rg BT 489.84 419.25 Td (As a result, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.25 Td (sum of the quarterly earnings per share amounts may not equal the annual earnings per share amount.) Tj ET Q endstream endobj 133 0 obj <> endobj 134 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (REPOR) Tj ET Q q 0 0 0 rg BT 84.65 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.14 742.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 107.15 742.25 Td ( INDEPENDENT) Tj ET Q q 0 0 0 rg BT 182.26 742.25 Td ( REGISTERED PUBLIC ) Tj ET Q q 0 0 0 rg BT 292.57 742.25 Td (ACCOUNTING FIRM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 718.25 Td (o the Board of Directors and Shareholders of Franklin Electric Co., Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (Fort ) Tj ET Q q 0 0 0 rg BT 68.99 706.25 Td (W) Tj ET Q q 0 0 0 rg BT 77.63 706.25 Td (ayne, Indiana) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 682.25 Td (e have audited the accompanying consolidated balance sheets of Franklin Electric Co., Inc. and subsidiaries \(the "Company"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (as of December 31, 2016 and January 2, 2016, and the related consolidated statements of income, comprehensive income, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (equity) Tj ET Q q 0 0 0 rg BT 74.35 658.25 Td (, and cash flows for each of the three years in the period ended December 31, 2016. Our audits also included the financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (statement schedule listed in the Index at Item 15. ) Tj ET Q q 0 0 0 rg BT 248.10 646.25 Td (These financial statements and financial statement schedule are the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (responsibility of the Company's management. Our responsibility is to express an opinion on the financial statements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (financial statement schedule based on our audits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 598.25 Td (e conducted our audits in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 378.83 598.25 Td (Accounting Oversight Board \(United States\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (statements are free of material misstatement. ) Tj ET Q q 0 0 0 rg BT 230.76 574.25 Td (An audit includes examining, on a test basis, evidence supporting the amounts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (disclosures in the financial statements. ) Tj ET Q q 0 0 0 rg BT 206.07 562.25 Td (An audit also includes assessing the accounting principles used and significant estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (made by management, as well as evaluating the overall financial statement presentation. ) Tj ET Q q 0 0 0 rg BT 405.24 550.25 Td (W) Tj ET Q q 0 0 0 rg BT 413.88 550.25 Td (e believe that our audits provide a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (reasonable basis for our opinion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (In our opinion, such consolidated financial statements present fairly) Tj ET Q q 0 0 0 rg BT 320.66 514.25 Td (, in all material respects, the financial position of Franklin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (Electric Co., Inc. and subsidiaries as of December 31, 2016 and January 2, 2016, and the results of their operations and their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (cash flows for each of the three years in the period ended December 31, 2016, in conformity with accounting principles ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (generally accepted in the United States of ) Tj ET Q q 0 0 0 rg BT 218.55 478.25 Td (America. ) Tj ET Q q 0 0 0 rg BT 257.42 478.25 Td (Also, in our opinion, such financial statement schedule, when considered in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (relation to the basic consolidated financial statements taken as a whole, presents fairly) Tj ET Q q 0 0 0 rg BT 393.96 466.25 Td (, in all material respects, the information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (set forth therein.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 430.25 Td (e have also audited, in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 367.44 430.25 Td (Accounting Oversight Board \(United States\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (the Company's internal control over financial reporting as of December 31, 2016, based on the criteria established in) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 515.82 418.25 Td ( Internal ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (Contr) Tj ET Q q 0 0 0 rg BT 72.97 406.25 Td (ol - Integrated Framework \(2013\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.05 406.25 Td ( issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 382.47 406.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 455.88 406.25 Td (T) Tj ET Q q 0 0 0 rg BT 461.64 406.25 Td (readway Commission, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (and our report dated March 1, 2017, expressed an unqualified opinion on the Company's internal control over financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (reporting.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (/s/DELOITTE & T) Tj ET Q q 0 0 0 rg BT 124.28 346.25 Td (OUCHE LLP) Tj ET Q q 0 0 0 rg BT 178.28 346.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (Chicago, Illinois) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (March 1, 2017) Tj ET Q endstream endobj 135 0 obj <> endobj 136 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM 9. CHANGES IN ) Tj ET Q q 0 0 0 rg BT 154.18 742.25 Td (AND DISAGREEMENTS ) Tj ET Q q 0 0 0 rg BT 268.47 742.25 Td (WITH ) Tj ET Q q 0 0 0 rg BT 298.75 742.25 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 348.57 742.25 Td (ANTS ON ) Tj ET Q q 0 0 0 rg BT 394.69 742.25 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 466.09 742.25 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 546.37 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (DISCLOSURE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (ITEM 9A. CONTROLS ) Tj ET Q q 0 0 0 rg BT 154.46 682.25 Td (AND PROCEDURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (As of the end of the period covered by this report \(the Evaluation Date\), the Company carried out an evaluation, under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (supervision and with the participation of the Company) Tj ET Q q 0 0 0 rg BT 270.79 646.25 Td (s management, including the Company) Tj ET Q q 0 0 0 rg BT 429.93 646.25 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 513.89 646.25 Td (ficer and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 634.25 Td (s Chief Financial Of) Tj ET Q q 0 0 0 rg BT 187.57 634.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 205.49 634.25 Td (, of the ef) Tj ET Q q 0 0 0 rg BT 243.62 634.25 Td (fectiveness of the design and operation of the Company) Tj ET Q q 0 0 0 rg BT 469.12 634.25 Td (s disclosure controls ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (and procedures pursuant to Exchange ) Tj ET Q q 0 0 0 rg BT 201.89 622.25 Td (Act Rules 13a-15. Based upon that evaluation, the Company) Tj ET Q q 0 0 0 rg BT 449.35 622.25 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 533.31 622.25 Td (ficer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (and the Company) Tj ET Q q 0 0 0 rg BT 123.32 610.25 Td (s Chief Financial Of) Tj ET Q q 0 0 0 rg BT 204.51 610.25 Td (ficer concluded that, as of the Evaluation Date, the Company) Tj ET Q q 0 0 0 rg BT 451.37 610.25 Td (s disclosure controls and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (procedures were ef) Tj ET Q q 0 0 0 rg BT 125.88 598.25 Td (fective.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (In the third quarter of 2016, the Company began the process of a multi-year implementation of a global enterprise resource ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (planning \(ERP\) system. ) Tj ET Q q 0 0 0 rg BT 158.97 562.25 Td (The new ERP) Tj ET Q q 0 0 0 rg BT 214.15 562.25 Td ( system was designed to better support the Company's business needs in response to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (the changing operating environment. ) Tj ET Q q 0 0 0 rg BT 202.00 550.25 Td (The implementation of a worldwide ERP) Tj ET Q q 0 0 0 rg BT 366.31 550.25 Td ( system will likely af) Tj ET Q q 0 0 0 rg BT 450.01 550.25 Td (fect the processes that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (constitute the Company's internal control over financial reporting and will require testing for ef) Tj ET Q q 0 0 0 rg BT 430.67 538.25 Td (fectiveness as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (implementation progresses. ) Tj ET Q q 0 0 0 rg BT 162.29 526.25 Td (The Company expects that the new ERP) Tj ET Q q 0 0 0 rg BT 323.55 526.25 Td ( system will enhance the overall system of internal controls ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (over financial reporting through further automation and integration of business processes, although it is not being implemented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (in response to any identified deficiency in the Company) Tj ET Q q 0 0 0 rg BT 276.61 502.25 Td (s internal controls over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (Other than the ERP) Tj ET Q q 0 0 0 rg BT 127.67 478.25 Td ( implementation, there have been no changes in the Company's internal control over financial reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (identified in connection with the evaluation required by Rules 13a-15 under the Exchange ) Tj ET Q q 0 0 0 rg BT 411.84 466.25 Td (Act during the last fiscal quarter that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (have materially af) Tj ET Q q 0 0 0 rg BT 122.00 454.25 Td (fected, or are reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 308.96 454.25 Td (fect the Company's internal control over financial reporting.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (MANAGEMENTS REPOR) Tj ET Q q 0 0 0 rg BT 171.59 430.25 Td (T) Tj ET Q q 0 0 0 rg BT 178.08 430.25 Td ( ON INTERNAL) Tj ET Q q 0 0 0 rg BT 250.32 430.25 Td ( CONTROL) Tj ET Q q 0 0 0 rg BT 302.83 430.25 Td ( OVER FINANCIAL) Tj ET Q q 0 0 0 rg BT 392.84 430.25 Td ( REPOR) Tj ET Q q 0 0 0 rg BT 429.99 430.25 Td (TING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (Management is responsible for establishing and maintaining an adequate system of internal control over financial reporting of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (the Company) Tj ET Q q 0 0 0 rg BT 102.95 394.25 Td (. ) Tj ET Q q 0 0 0 rg BT 110.27 394.25 Td (This system is designed to provide reasonable assurance regarding the reliability of financial reporting and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (United States of ) Tj ET Q q 0 0 0 rg BT 116.38 370.25 Td (America.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 346.25 Td (s internal control over financial reporting includes those policies and procedures that \(i\) pertain to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (the Company; \(ii\) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (being made only in accordance with authorizations of management and directors of the Company; \(iii\) provide reasonable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company) Tj ET Q q 0 0 0 rg BT 512.66 286.25 Td (s assets that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (could have a material ef) Tj ET Q q 0 0 0 rg BT 145.88 274.25 Td (fect on the financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (Because of its inherent limitations, internal control over financial reporting can provide only reasonable assurance with respect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (to financial statement preparation and may not prevent or detect misstatements. Further) Tj ET Q q 0 0 0 rg BT 401.43 238.25 Td (, because of changes in conditions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 226.25 Td (fectiveness of internal controls over financial reporting may vary over time.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (Management conducted an evaluation of the ef) Tj ET Q q 0 0 0 rg BT 237.52 202.25 Td (fectiveness of the system of internal control over financial reporting based on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (framework in the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 121.36 190.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 179.05 190.25 Td (ol - Integrated Framework) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.97 190.25 Td ( \(2013\) issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 488.55 190.25 Td (ganizations of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 178.25 Td (readway Commission. Based on its evaluation, management concluded that the Company) Tj ET Q q 0 0 0 rg BT 419.29 178.25 Td (s system of internal control over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (financial reporting was ef) Tj ET Q q 0 0 0 rg BT 152.28 166.25 Td (fective as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.64 166.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.22 166.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (Our independent registered public accounting firm has issued an audit report on the ef) Tj ET Q q 0 0 0 rg BT 393.88 142.25 Td (fectiveness of the Company) Tj ET Q q 0 0 0 rg BT 508.01 142.25 Td (s internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (control over financial reporting as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.39 130.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.97 130.25 Td (. ) Tj ET Q q 0 0 0 rg BT 285.29 130.25 Td (This report appears on page 68.) Tj ET Q endstream endobj 137 0 obj <> endobj 138 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (REPOR) Tj ET Q q 0 0 0 rg BT 84.65 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.14 742.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 107.15 742.25 Td ( INDEPENDENT) Tj ET Q q 0 0 0 rg BT 182.26 742.25 Td ( REGISTERED PUBLIC ) Tj ET Q q 0 0 0 rg BT 292.57 742.25 Td (ACCOUNTING FIRM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 718.25 Td (o the Board of Directors and Shareholders of Franklin Electric Co., Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (Fort ) Tj ET Q q 0 0 0 rg BT 68.99 706.25 Td (W) Tj ET Q q 0 0 0 rg BT 77.63 706.25 Td (ayne, Indiana) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 682.25 Td (e have audited the internal control over financial reporting of Franklin Electric Co., Inc. and subsidiaries \(the "Company"\) as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (of December 31, 2016, based on criteria established in ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 270.21 670.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 327.89 670.25 Td (ol - Integrated Framework \(2013\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.97 670.25 Td ( issued by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 166.20 658.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 239.61 658.25 Td (T) Tj ET Q q 0 0 0 rg BT 245.37 658.25 Td (readway Commission. ) Tj ET Q q 0 0 0 rg BT 337.12 658.25 Td (The Company's management is responsible for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (maintaining ef) Tj ET Q q 0 0 0 rg BT 107.86 646.25 Td (fective internal control over financial reporting and for its assessment of the ef) Tj ET Q q 0 0 0 rg BT 421.45 646.25 Td (fectiveness of internal control over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (financial reporting, included in the accompanying Management) Tj ET Q q 0 0 0 rg BT 306.86 634.25 Td (s Report on Internal Control over Financial Reporting. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (responsibility is to express an opinion on the Company's internal control over financial reporting based on our audit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 598.25 Td (e conducted our audit in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 374.94 598.25 Td (Accounting Oversight Board \(United States\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Those standards require that we plan and perform the audit to obtain reasonable assurance about whether ef) Tj ET Q q 0 0 0 rg BT 479.66 586.25 Td (fective internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (operating ef) Tj ET Q q 0 0 0 rg BT 97.85 550.25 Td (fectiveness of internal control based on the assessed risk, and performing such other procedures as we considered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (necessary in the circumstances. ) Tj ET Q q 0 0 0 rg BT 177.82 538.25 Td (W) Tj ET Q q 0 0 0 rg BT 186.46 538.25 Td (e believe that our audit provides a reasonable basis for our opinion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 514.25 Td ( company's internal control over financial reporting is a process designed by) Tj ET Q q 0 0 0 rg BT 360.79 514.25 Td (, or under the supervision of, the company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (principal executive and principal financial of) Tj ET Q q 0 0 0 rg BT 229.46 502.25 Td (ficers, or persons performing similar functions, and ef) Tj ET Q q 0 0 0 rg BT 445.05 502.25 Td (fected by the company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (board of directors, management, and other personnel to provide reasonable assurance regarding the reliability of financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (principles. ) Tj ET Q q 0 0 0 rg BT 93.88 466.25 Td (A) Tj ET Q q 0 0 0 rg BT 100.55 466.25 Td ( company's internal control over financial reporting includes those policies and procedures that \(1\) pertain to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (the company; \(2\) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (being made only in accordance with authorizations of management and directors of the company; and \(3\) provide reasonable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (could have a material ef) Tj ET Q q 0 0 0 rg BT 145.88 394.25 Td (fect on the financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (improper management override of controls, material misstatements due to error or fraud may not be prevented or detected on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (timely basis. ) Tj ET Q q 0 0 0 rg BT 102.50 346.25 Td (Also, projections of any evaluation of the ef) Tj ET Q q 0 0 0 rg BT 278.38 346.25 Td (fectiveness of the internal control over financial reporting to future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (periods are subject to the risk that the controls may become inadequate because of changes in conditions, or that the degree of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (compliance with the policies or procedures may deteriorate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (In our opinion, the Company maintained, in all material respects, ef) Tj ET Q q 0 0 0 rg BT 320.58 298.25 Td (fective internal control over financial reporting as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (December 31, 2016, based on the criteria established in ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 274.09 286.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 331.78 286.25 Td (ol - Integrated Framework \(2013\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.86 286.25 Td ( issued by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 166.20 274.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 239.61 274.25 Td (T) Tj ET Q q 0 0 0 rg BT 245.37 274.25 Td (readway Commission.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 250.25 Td (e have also audited, in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 367.44 250.25 Td (Accounting Oversight Board \(United States\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (the consolidated financial statements and financial statement schedule as of and for the three years ended December 31, 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (of the Company and our report dated March 1, 2017 expressed an unqualified opinion on those financial statements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (financial statement schedule.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (/s/DELOITTE & T) Tj ET Q q 0 0 0 rg BT 124.28 178.25 Td (OUCHE LLP) Tj ET Q q 0 0 0 rg BT 178.28 178.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (Chicago, Illinois) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (March 1, 2017) Tj ET Q endstream endobj 139 0 obj <> endobj 140 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM 9B. OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 182.60 742.25 Td (TION ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (None.) Tj ET Q endstream endobj 141 0 obj <> endobj 142 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (70) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 285.9 740.68505859375 m 326.0220703125 740.68505859375 l s q 0 0 0 rg BT 285.90 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 291.27 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 305.36 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 311.85 742.25 Td ( III) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (ITEM 10. DIRECT) Tj ET Q q 0 0 0 rg BT 132.89 718.25 Td (ORS, EXECUTIVE OFFICERS ) Tj ET Q q 0 0 0 rg BT 272.92 718.25 Td (AND CORPORA) Tj ET Q q 0 0 0 rg BT 346.89 718.25 Td (TE GOVERNANCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (The information concerning directors and director nominees required by this Item 10 is set forth in the Company's Proxy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Statement for the ) Tj ET Q q 0 0 0 rg BT 120.82 682.25 Td (Annual Meeting of Shareholders to be held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.55 682.25 Td (May5, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.38 682.25 Td (, under the headings of "ELECTION OF ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (DIRECT) Tj ET Q q 0 0 0 rg BT 85.93 670.25 Td (ORS" and "INFORMA) Tj ET Q q 0 0 0 rg BT 177.99 670.25 Td (TION CONCERNING NOMINEES ) Tj ET Q q 0 0 0 rg BT 326.04 670.25 Td (AND CONTINUING DIRECT) Tj ET Q q 0 0 0 rg BT 451.41 670.25 Td (ORS," and is incorporated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (herein by reference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (The information concerning executive of) Tj ET Q q 0 0 0 rg BT 213.64 634.25 Td (ficers required by this Item 10 is contained in Part I of this Form 10-K under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (heading of "EXECUTIVE OFFICERS OF ) Tj ET Q q 0 0 0 rg BT 221.95 622.25 Td (THE REGISTRANT) Tj ET Q q 0 0 0 rg BT 305.37 622.25 Td (," and is incorporated herein by reference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (The information concerning Regulation S-K, Item 405 disclosures of delinquent Form 3, 4, or 5 filers required by this Item 10 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (is set forth in the Company) Tj ET Q q 0 0 0 rg BT 161.38 586.25 Td (s Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 264.98 586.25 Td (Annual Meeting of Shareholders to be held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.71 586.25 Td (May5, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.54 586.25 Td (, under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (heading of SECTION 16\(a\) BENEFICIAL) Tj ET Q q 0 0 0 rg BT 225.70 574.25 Td ( OWNERSHIP) Tj ET Q q 0 0 0 rg BT 286.17 574.25 Td ( REPOR) Tj ET Q q 0 0 0 rg BT 320.30 574.25 Td (TING COMPLIANCE, and is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (reference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (The information concerning the procedures for shareholders to recommend nominees to the Company) Tj ET Q q 0 0 0 rg BT 460.43 538.25 Td (s board of directors, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (Audit Committee of the board of directors, and the Company) Tj ET Q q 0 0 0 rg BT 297.17 526.25 Td (s code of conduct and ethics required by this Item 10 is set forth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (in the Company) Tj ET Q q 0 0 0 rg BT 116.66 514.25 Td (s Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 220.26 514.25 Td (Annual Meeting of Shareholders to be held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.99 514.25 Td (May5, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.82 514.25 Td ( under the heading ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (INFORMA) Tj ET Q q 0 0 0 rg BT 99.45 502.25 Td (TION ) Tj ET Q q 0 0 0 rg BT 125.28 502.25 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 159.54 502.25 Td ( ) Tj ET Q q 0 0 0 rg BT 161.86 502.25 Td (THE BOARD ) Tj ET Q q 0 0 0 rg BT 220.75 502.25 Td (AND ITS COMMITTEES, and is incorporated herein by reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (ITEM 1) Tj ET Q q 0 0 0 rg BT 83.62 478.25 Td (1. EXECUTIVE COMPENSA) Tj ET Q q 0 0 0 rg BT 212.06 478.25 Td (TION ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (The information required by Item 1) Tj ET Q q 0 0 0 rg BT 191.53 454.25 Td (1 is set forth in the Company's Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 413.03 454.25 Td (Annual Meeting of Shareholders to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (be held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.16 442.25 Td (May5, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.99 442.25 Td (, under the headings of INFORMA) Tj ET Q q 0 0 0 rg BT 288.30 442.25 Td (TION ) Tj ET Q q 0 0 0 rg BT 314.13 442.25 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 348.39 442.25 Td ( ) Tj ET Q q 0 0 0 rg BT 350.71 442.25 Td (THE BOARD ) Tj ET Q q 0 0 0 rg BT 409.60 442.25 Td (AND ITS COMMITTEES, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (MANAGEMENT) Tj ET Q q 0 0 0 rg BT 126.47 430.25 Td ( ORGANIZA) Tj ET Q q 0 0 0 rg BT 180.08 430.25 Td (TION ) Tj ET Q q 0 0 0 rg BT 205.91 430.25 Td (AND COMPENSA) Tj ET Q q 0 0 0 rg BT 283.43 430.25 Td (TION COMMITTEE REPOR) Tj ET Q q 0 0 0 rg BT 403.38 430.25 Td (T) Tj ET Q q 0 0 0 rg BT 408.75 430.25 Td (, COMPENSA) Tj ET Q q 0 0 0 rg BT 475.97 430.25 Td (TION, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (DISCUSSION ) Tj ET Q q 0 0 0 rg BT 110.85 418.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 134.46 418.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 161.24 418.25 Td (YSIS, SUMMAR) Tj ET Q q 0 0 0 rg BT 240.69 418.25 Td (Y) Tj ET Q q 0 0 0 rg BT 247.54 418.25 Td ( COMPENSA) Tj ET Q q 0 0 0 rg BT 303.39 418.25 Td (TION ) Tj ET Q q 0 0 0 rg BT 329.59 418.25 Td (T) Tj ET Q q 0 0 0 rg BT 334.90 418.25 Td (ABLE, GRANT) Tj ET Q q 0 0 0 rg BT 409.15 418.25 Td ( OF PLAN BASED ) Tj ET Q q 0 0 0 rg BT 490.28 418.25 Td (A) Tj ET Q q 0 0 0 rg BT 496.70 418.25 Td (W) Tj ET Q q 0 0 0 rg BT 505.03 418.25 Td (ARDS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.31 406.25 Td (ABLE, OUTST) Tj ET Q q 0 0 0 rg BT 126.71 406.25 Td (ANDING EQUITY) Tj ET Q q 0 0 0 rg BT 205.49 406.25 Td ( ) Tj ET Q q 0 0 0 rg BT 207.44 406.25 Td (A) Tj ET Q q 0 0 0 rg BT 213.86 406.25 Td (W) Tj ET Q q 0 0 0 rg BT 222.19 406.25 Td (ARDS ) Tj ET Q q 0 0 0 rg BT 250.82 406.25 Td (A) Tj ET Q q 0 0 0 rg BT 256.93 406.25 Td (T) Tj ET Q q 0 0 0 rg BT 262.86 406.25 Td ( FISCAL) Tj ET Q q 0 0 0 rg BT 299.44 406.25 Td ( ) Tj ET Q q 0 0 0 rg BT 301.57 406.25 Td (YEAR-END ) Tj ET Q q 0 0 0 rg BT 354.99 406.25 Td (T) Tj ET Q q 0 0 0 rg BT 360.30 406.25 Td (ABLE, OPTION EXCERCISES ) Tj ET Q q 0 0 0 rg BT 501.41 406.25 Td (AND ST) Tj ET Q q 0 0 0 rg BT 537.06 406.25 Td (OCK ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (VESTED ) Tj ET Q q 0 0 0 rg BT 90.65 394.25 Td (T) Tj ET Q q 0 0 0 rg BT 95.96 394.25 Td (ABLE, PENSION BENEFITS ) Tj ET Q q 0 0 0 rg BT 229.66 394.25 Td (T) Tj ET Q q 0 0 0 rg BT 234.97 394.25 Td (ABLE, NON-QUALIFIED DEFERRED COMPENSA) Tj ET Q q 0 0 0 rg BT 463.29 394.25 Td (TION, POTENTIAL) Tj ET Q q 0 0 0 rg BT 555.67 394.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (P) Tj ET Q q 0 0 0 rg BT 54.64 382.25 Td (A) Tj ET Q q 0 0 0 rg BT 60.95 382.25 Td (YMENTS UPON ) Tj ET Q q 0 0 0 rg BT 134.11 382.25 Td (TERMINA) Tj ET Q q 0 0 0 rg BT 178.55 382.25 Td (TION OR CHANGE IN CONTROL) Tj ET Q q 0 0 0 rg BT 325.39 382.25 Td ( OF ) Tj ET Q q 0 0 0 rg BT 342.99 382.25 Td (THE COMP) Tj ET Q q 0 0 0 rg BT 392.36 382.25 Td (ANY) Tj ET Q q 0 0 0 rg BT 412.73 382.25 Td (, and DIRECT) Tj ET Q q 0 0 0 rg BT 479.48 382.25 Td (OR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (COMPENSA) Tj ET Q q 0 0 0 rg BT 103.35 370.25 Td (TION, and is incorporated herein by reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (ITEM 12. SECURITY) Tj ET Q q 0 0 0 rg BT 145.48 346.25 Td ( OWNERSHIP) Tj ET Q q 0 0 0 rg BT 209.66 346.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 225.67 346.25 Td ( CER) Tj ET Q q 0 0 0 rg BT 248.94 346.25 Td (T) Tj ET Q q 0 0 0 rg BT 254.86 346.25 Td (AIN BENEFICIAL) Tj ET Q q 0 0 0 rg BT 337.38 346.25 Td ( OWNERS ) Tj ET Q q 0 0 0 rg BT 386.28 346.25 Td (AND MANAGEMENT) Tj ET Q q 0 0 0 rg BT 485.82 346.25 Td ( ) Tj ET Q q 0 0 0 rg BT 487.77 346.25 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 538.97 346.25 Td (TED ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (ST) Tj ET Q q 0 0 0 rg BT 62.05 334.25 Td (OCKHOLDER MA) Tj ET Q q 0 0 0 rg BT 146.59 334.25 Td (TTERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (The information required by Item 12 is set forth in the Company's Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 413.40 310.25 Td (Annual Meeting of Shareholders to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (be held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.16 298.25 Td (May5, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.99 298.25 Td (, under the headings of "SECURITY) Tj ET Q q 0 0 0 rg BT 291.45 298.25 Td ( OWNERSHIP) Tj ET Q q 0 0 0 rg BT 351.91 298.25 Td ( OF CER) Tj ET Q q 0 0 0 rg BT 388.54 298.25 Td (T) Tj ET Q q 0 0 0 rg BT 393.85 298.25 Td (AIN BENEFICIAL) Tj ET Q q 0 0 0 rg BT 472.08 298.25 Td ( OWNERS, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (SECURITY) Tj ET Q q 0 0 0 rg BT 102.96 286.25 Td ( OWNERSHIP) Tj ET Q q 0 0 0 rg BT 163.42 286.25 Td ( OF MANAGEMENT" and SECURITIES ) Tj ET Q q 0 0 0 rg BT 340.00 286.25 Td (AUTHORIZED FOR ISSUANCE UNDER EQUITY) Tj ET Q q 0 0 0 rg BT 554.07 286.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (COMPENSA) Tj ET Q q 0 0 0 rg BT 103.35 274.25 Td (TION PLANS, and is incorporated herein by reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (ITEM 13. 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (ITEM 14. PRINCIP) Tj ET Q q 0 0 0 rg BT 135.09 178.25 Td (AL) Tj ET Q q 0 0 0 rg BT 148.43 178.25 Td ( ) Tj ET Q q 0 0 0 rg BT 150.38 178.25 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 200.20 178.25 Td (ANT) Tj ET Q q 0 0 0 rg BT 221.13 178.25 Td ( FEES ) Tj ET Q q 0 0 0 rg BT 250.59 178.25 Td (AND SER) Tj ET Q q 0 0 0 rg BT 293.85 178.25 Td (VICES ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (The information required by Item 14 is set forth in the Company) Tj ET Q q 0 0 0 rg BT 310.78 154.25 Td (s Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 414.38 154.25 Td (Annual Meeting of Shareholders to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (be held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.16 142.25 Td (May5, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.99 142.25 Td (, under the heading PROPOSAL) Tj ET Q q 0 0 0 rg BT 279.32 142.25 Td ( 3: RA) Tj ET Q q 0 0 0 rg BT 304.88 142.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 336.00 142.25 Td (TION OF ) Tj ET Q q 0 0 0 rg BT 377.48 142.25 Td (THE ) Tj ET Q q 0 0 0 rg BT 398.87 142.25 Td (APPOINTMENT) Tj ET Q q 0 0 0 rg BT 469.24 142.25 Td ( OF DELOITTE & ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.93 130.25 Td (OUCHE LLP) Tj ET Q q 0 0 0 rg BT 110.28 130.25 Td ( ) Tj ET Q q 0 0 0 rg BT 112.23 130.25 Td (AS ) Tj ET Q q 0 0 0 rg BT 127.33 130.25 Td (THE COMP) Tj ET Q q 0 0 0 rg BT 176.69 130.25 Td (ANYS INDEPENDENT) Tj ET Q q 0 0 0 rg BT 279.00 130.25 Td ( REGISTERED PUBLIC ) Tj ET Q q 0 0 0 rg BT 382.62 130.25 Td (ACCOUNTING FIRM FOR ) Tj ET Q q 0 0 0 rg BT 499.96 130.25 Td (THE ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.89 130.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.89 130.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (FISCAL) Tj ET Q q 0 0 0 rg BT 84.08 118.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.21 118.25 Td (YEAR, and is incorporated herein by reference.) 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EXHIBITS ) Tj ET Q q 0 0 0 rg BT 144.47 718.25 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 224.76 718.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 238.75 718.25 Td (A) Tj ET Q q 0 0 0 rg BT 245.22 718.25 Td (TEMENTS SCHEDULES ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 673.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 673.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 673.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 643.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 643.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 643.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 613.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 613.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 613.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 583.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 583.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 583.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 553.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 553.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 553.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 504.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 504.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 504.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 474.75 434.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 474.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 474.75 69.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 52 673.75 m 486 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 673.75 m 559 673.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.50 678.42 Td (Documents filed as part of this report:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.60 698.32 Td (Form 10-K ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.40 688.32 Td (Annual Report) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.20 678.32 Td (\(page\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.50 664.32 Td (1. Financial Statements - Franklin Electric Co., Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.00 664.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.50 649.32 Td (Consolidated Statements of Income for the three years ended December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.50 634.32 Td (Consolidated Statements of Comprehensive Income for the three years ended December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.50 619.32 Td (Consolidated Balance Sheets as of December 31, 2016 and January 2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.50 604.32 Td (Consolidated Statements of Cash Flows for the three years ended December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.50 589.32 Td (Consolidated Statements of Equity for the three years ended December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 574.32 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.50 559.32 Td (2. Financial Statement Schedule - Franklin Electric Co., Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.00 559.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.50 544.32 Td ( Schedule II - Valuation and Qualifying Accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 529.32 Td (Schedules other than those listed above are omitted for the reason that they are not required or are not) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 519.32 Td (applicable, or the required information is disclosed elsewhere in the financial statements and related) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 509.32 Td (notes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.50 495.32 Td (3. Exhibits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.50 480.32 Td ( Exhibits are set forth in the attached Exhibit Index.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 465.32 Td (Management Contract, Compensatory Plan, or Arrangement is denoted by an asterisk \(*\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 649.32 Td (32) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 634.32 Td (33) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 619.32 Td (34) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 604.32 Td (36) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 589.32 Td (38) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 574.32 Td (40) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 544.32 Td (72) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 480.32 Td (75) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 145 0 obj <> endobj 146 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 742.10 Td (FRANKLIN ELECTRIC CO., INC. ) Tj ET Q q 0 0 0 rg BT 293.89 742.10 Td (AND CONSOLIDA) Tj ET Q q 0 0 0 rg BT 374.73 742.10 Td (TED SUBSIDIARIES) Tj 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103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 548.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 518.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 518.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 518.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 488.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 488.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 488.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 458.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 458.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 458.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 428.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 428.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 428.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 398.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 398.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 398.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 368.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 368.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 368.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 338.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 338.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 338.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 308.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 308.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 308.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 278.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 278.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 278.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 248.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 248.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 248.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 218.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 218.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 218.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 188.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 188.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 188.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 158.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 158.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 158.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 128.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 128.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 128.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 98.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 98.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 98.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 68.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 68.60 103.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 68.60 103.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 653.6 m 355.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 653.6 m 458.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 653.6 m 561.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355.5 653.6 m 458.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 653.6 m 561.5 653.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 658.27 Td (Subsidiary) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.40 668.27 Td (State or Country) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.05 658.27 Td (of Or) Tj ET Q q 0 0 0 rg BT 396.25 658.27 Td (ganization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 668.27 Td (Percent of ) Tj ET Q q 0 0 0 rg BT 517.78 668.27 Td (V) Tj ET Q q 0 0 0 rg BT 523.72 668.27 Td (oting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.40 658.27 Td (Stock Owned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 643.27 Td (Bombas Leao SA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.25 643.27 Td (Brazil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 643.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 628.27 Td (Cookson & Zinn \(PTL\) Limited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.75 628.27 Td (United Kingdom) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 628.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 613.27 Td (Coverco S.r.l.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.30 613.27 Td (Italy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 613.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 598.27 Td (FE Latin America B.V.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 598.27 Td (Netherlands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 598.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 583.27 Td (FELE C.V.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 583.27 Td (Netherlands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 583.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 568.27 Td (Franklin Control Systems, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 568.27 Td (Oregon) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 568.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 553.27 Td (Franklin Electric \(Australia\) Pty. Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 553.27 Td (Australia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 553.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 538.27 Td (Franklin Electric \(Chile\) Ltda) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 538.27 Td (Chile) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 538.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 523.27 Td (Franklin Electric \(SEA\) Pty. Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.20 523.27 Td (Singapore) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 523.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 508.27 Td (Franklin Electric \(South Africa\) Pty. Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.05 508.27 Td (South Africa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 508.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 493.27 Td (Franklin Electric \(Suzhou\) Co., Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.55 493.27 Td (China) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 493.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 478.27 Td (Franklin Electric \(Zambia\) Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.20 478.27 Td (Zambia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 478.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 463.27 Td (Franklin Electric B.V.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 463.27 Td (Netherlands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 463.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 448.27 Td (Franklin Electric Botswana Pty. Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.75 448.27 Td (Botswana) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 448.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 433.27 Td (Franklin Electric Canada, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 433.27 Td (Canada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 433.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 418.27 Td (Franklin Electric Colombia SAS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.75 418.27 Td (Colombia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 418.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 403.27 Td (Franklin Electric Europa GmbH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.85 403.27 Td (Germany) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 403.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 388.27 Td (Franklin Electric Germany Holding GmbH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.85 388.27 Td (Germany) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 388.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 373.27 Td (Franklin Electric Holding B.V.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 373.27 Td (Netherlands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 373.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 358.27 Td (Franklin Electric India Private Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.20 358.27 Td (India) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 358.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 343.27 Td (Franklin Electric Industria de Motobombas SA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.25 343.27 Td (Brazil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 343.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 328.27 Td (Franklin Electric International, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.30 328.27 Td (Delaware) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 328.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 313.27 Td (Franklin Electric NL BV) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.30 313.27 Td (Netherlands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 313.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 298.27 Td (Franklin Electric spol s.r.o.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.70 298.27 Td (Czech Republic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 298.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 283.27 Td (Franklin Electric Subsidiaries, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 283.27 Td (Indiana) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 283.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 268.27 Td (Franklin Electric Trading \(Shanghai\) Co., Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.55 268.27 Td (China) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 268.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 253.27 Td (Franklin Fueling Sistemas de Combustiveis Ltda) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.25 253.27 Td (Brazil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 253.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 238.27 Td (Franklin Fueling Systems \(Beijing\) Company Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.55 238.27 Td (China) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 238.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 223.27 Td (Franklin Fueling Systems Australia Pty. Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 223.27 Td (Australia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 223.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 208.27 Td (Franklin Fueling Systems France SARL) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.85 208.27 Td (France) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 208.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 193.27 Td (Franklin Fueling Systems India Private Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.20 193.27 Td (India) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 193.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 178.27 Td (Franklin Fueling Systems Ltd.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.75 178.27 Td (United Kingdom) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 178.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 163.27 Td (Franklin Fueling Systems GmbH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.85 163.27 Td (Germany) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 163.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 148.27 Td (Franklin Fueling Systems, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 148.27 Td (Indiana) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 148.27 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 133.27 Td (Impo Motor Pompa Sanayi ve Ticaret A.S.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 398.10 Td (Increases in the cost of raw material, components, other materials, transportation or other services which the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 386.10 Td (is unable to pass on to customers or which impact demand for the Company's products.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 362.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 111.63 362.10 Td (fects of and changes in, trade, monetary and fiscal policies, laws and regulations and other activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 350.10 Td (governments, agencies and similar or) Tj ET Q q 0 0 0 rg BT 234.94 350.10 Td (ganizations across the many countries and regions where the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 338.10 Td (manufacturers or sells its products, including trade restrictions, inflation, currency fluctuations, import and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 326.10 Td (char) Tj ET Q q 0 0 0 rg BT 103.03 326.10 Td (ges or taxes, nationalizations and unstable governments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 302.10 Td (The Company's success in implementing its strategy of concentrating production in low cost locations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 278.10 Td (The Company's ability to anticipate changing customer requirements, fund and accomplish product innovation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 266.10 Td (improve processes, and attract and retain capable staf) Tj ET Q q 0 0 0 rg BT 299.06 266.10 Td (f in order to deal with increasing volume and complexity in its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 254.10 Td (products.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 230.10 Td (Dif) Tj ET Q q 0 0 0 rg BT 99.15 230.10 Td (ficulties or delays in the development, production, testing and marketing of products, including a failure to ship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 218.10 Td (new products when anticipated, failure of customers to accept these products when planned, any defects in products or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 206.10 Td (a failure of manufacturing economies to develop when planned.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 182.10 Td (The costs and other ef) Tj ET Q q 0 0 0 rg BT 174.12 182.10 Td (fects of administrative, civil or criminal proceedings, settlements and investigations, claims, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 170.10 Td (developments or assertions by or against the Company) Tj ET Q q 0 0 0 rg BT 303.92 170.10 Td (, including those relating to intellectual property rights and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 158.10 Td (licenses, alleged defects in products and non-compliance with governmental regulations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 134.10 Td (The introduction of alternative products or governmental and regulatory actions that favor alternative methods of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 122.10 Td (serving the same function as the Company's products, such as the extension of municipal water systems.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 98.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 111.63 98.10 Td (fect of environmental legislation and regulation on the Company's products and sales.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 74.10 Td (The Company's success in reducing or controlling growth in selling, general and administrative expenses.) Tj ET Q endstream endobj 173 0 obj <> endobj 174 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (The Company's ability to manage the life cycle of its products, reduce product costs and other costs and increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (productivity) Tj ET Q q 0 0 0 rg BT 134.23 718.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (Events such as fires, floods, or other natural disasters and weather conditions impacting the Company's ability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (produce products or the demand for its products.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td (A) Tj ET Q q 0 0 0 rg BT 92.67 658.10 Td ( prolonged disruption of scheduled deliveries from suppliers when alternative sources of raw material and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (components are not available.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td (Labor strikes or work stoppages by employees of the Company) Tj ET Q q 0 0 0 rg BT 338.35 622.10 Td (, its customers, suppliers, or freight contractors or other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.10 Td (providers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (The adoption of new) Tj ET Q q 0 0 0 rg BT 168.38 586.10 Td (, or changes in, accounting policies and practices.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Some of these and other risks and uncertainties that may af) Tj ET Q q 0 0 0 rg BT 285.86 562.10 Td (fect future results are discussed in more detail in Item 1A) Tj ET Q q 0 0 0 rg BT 519.12 562.10 Td ( - Risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Factors, Item 7A) Tj ET Q q 0 0 0 rg BT 125.81 550.10 Td ( - Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 0 rg BT 298.54 550.10 Td (About Market Risk, and Note 17, Commitments and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Contingencies included in Item 8 of this ) Tj ET Q q 0 0 0 rg BT 216.91 538.10 Td (Annual Report on Form 10-K. ) Tj ET Q q 0 0 0 rg BT 342.74 538.10 Td (All forward-looking statements included herein are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (based upon information presently available. ) Tj ET Q q 0 0 0 rg BT 230.04 526.10 Td (The Company does not assume any obligation to update any forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (information, except as required by law) Tj ET Q q 0 0 0 rg BT 203.74 514.10 Td (.) 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