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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.15 412.28 Td (Large ) Tj ET Q q 0 0 0 rg BT 70.65 412.28 Td (Accelerated Filer) Tj ET Q /GS0 gs q 10.00 0 0 9.93 144.21 410.12 cm /I17 Do Q /GS0 gs q 10.60 0 0 9.93 154.21 410.12 cm /I18 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.50 412.28 Td (Accelerated Filer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.06 412.28 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 252.56 410.12 cm /I19 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.95 412.28 Td (Non-Accelerated Filer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.63 412.28 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 384.13 410.12 cm /I20 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.00 412.28 Td (Smaller) Tj ET Q q 0 0 0 rg BT 446.14 412.28 Td ( Reporting Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 412.28 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 538.65 410.12 cm /I21 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.25 398.28 Td (Emerging Gr) Tj ET Q q 0 0 0 rg BT 279.00 398.28 Td (owth Company ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 346.79 396.12 cm /I22 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 370.10 Td (If an emer) Tj ET Q q 0 0 0 rg BT 81.90 370.10 Td (ging growth company) Tj ET Q q 0 0 0 rg BT 169.02 370.10 Td (, indicate by check mark if the registrant has elected not to use the extended transition period for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 358.10 Td (complying with any new or revised financial accounting standards provided pursuant to Section 13\(a\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 517.25 358.10 Td (Act. ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 546.69 355.94 cm /I23 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 334.10 Td (Indicate by check mark whether the registrant is a shell company \(as defined in Rule 12b-2 of the ) Tj ET Q q 0 0 0 rg BT 432.54 334.10 Td (Act\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 155.80 302.28 Td (YES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.25 302.28 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.93 180.25 300.12 cm /I24 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 302.28 Td (NO) Tj ET Q /GS0 gs q 10.00 0 0 9.93 434.65 300.12 cm /I25 Do Q /GS0 gs q 10.60 0 0 9.93 444.65 300.12 cm /I26 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 274.10 Td (The aggregate market value of the registrant) Tj ET Q q 0 0 0 rg BT 220.92 274.10 Td (s common stock held by non-af) Tj ET Q q 0 0 0 rg BT 346.55 274.10 Td (filiates of the registrant at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.79 274.10 Td (June30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.62 274.10 Td ( \(the last ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 262.10 Td (business day of the registrant) Tj ET Q q 0 0 0 rg BT 160.42 262.10 Td (s most recently completed second quarter\) was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.08 262.10 Td ($2,079,179,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.58 262.10 Td (.) Tj ET Q q 0 0 0 rg BT 419.90 262.10 Td (The stock price used in this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 250.10 Td (computation was the last sales price on that date, as reported by NASDAQ Global Select Market. For purposes of this calculation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 238.10 Td (the registrant has excluded shares held by executive of) Tj ET Q q 0 0 0 rg BT 259.07 238.10 Td (ficers and directors of the registrant, including restricted shares and except ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 226.10 Td (for shares owned by the executive of) Tj ET Q q 0 0 0 rg BT 187.99 226.10 Td (ficers through the registrant) Tj ET Q q 0 0 0 rg BT 301.56 226.10 Td (s 401\(k\) Plan. Determination of stock ownership by non-af) Tj ET Q q 0 0 0 rg BT 539.67 226.10 Td (filiates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 214.10 Td (was made solely for the purpose of responding to this requirement and the registrant is not bound by this determination for any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 202.10 Td (other purpose.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.15 178.10 Td (Number) Tj ET Q q 0 0 0 rg BT 192.52 178.10 Td ( of shar) Tj ET Q q 0 0 0 rg BT 224.56 178.10 Td (es of common stock outstanding at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.01 178.10 Td (February12, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.06 178.10 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 270.2 164.53505859375002 m 315.2 164.53505859375002 l s q 0 0 0 rg BT 270.20 166.10 Td (46,273,906) 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 315.2 164.53505859375002 m 344.741015625 164.53505859375002 l s q 0 0 0 rg BT 315.20 166.10 Td ( shar) Tj ET Q q 0 0 0 rg BT 336.41 166.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 142.10 Td (DOCUMENTS INCORPORA) Tj ET Q q 0 0 0 rg BT 162.41 142.10 Td (TED BY) Tj ET Q q 0 0 0 rg BT 197.87 142.10 Td ( REFERENCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 41.00 118.10 Td (A) Tj ET Q q 0 0 0 rg BT 47.67 118.10 Td ( portion of the Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 204.31 118.10 Td (Annual Meeting of Shareholders to be held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.04 118.10 Td (May3, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.88 118.10 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 (P) Tj ET Q q 0 0 0 rg BT 56.10 683.32 Td (AR) Tj ET Q q 0 0 0 rg BT 69.23 683.32 Td (T) Tj ET Q q 0 0 0 rg BT 74.95 683.32 Td ( 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 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 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 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 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 0 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 0 1 rg BT 123.00 593.32 Td (Supplemental Item - Executive Of) Tj ET Q q 0 0 1 rg BT 260.00 593.32 Td (ficers of the Registrant) 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 51.00 563.32 Td (P) Tj ET Q q 0 0 0 rg BT 56.10 563.32 Td (AR) Tj ET Q q 0 0 0 rg BT 69.23 563.32 Td (T) Tj ET Q q 0 0 0 rg BT 74.95 563.32 Td ( 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 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 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 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 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 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 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 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 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 (P) Tj ET Q q 0 0 0 rg BT 56.10 388.32 Td (AR) Tj ET Q q 0 0 0 rg BT 69.23 388.32 Td (T) Tj ET Q q 0 0 0 rg BT 74.95 388.32 Td ( 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 51.00 343.32 Td (Item 1) Tj ET Q q 0 0 0 rg BT 76.64 343.32 Td (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 123 341.9833984375 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 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 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 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 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 (P) Tj ET Q q 0 0 0 rg BT 56.10 258.32 Td (AR) Tj ET Q q 0 0 0 rg BT 69.23 258.32 Td (T) Tj ET Q q 0 0 0 rg BT 74.95 258.32 Td ( IV) Tj ET Q q 0 0 0 rg BT 87.27 258.32 Td (.) 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 0.11372549019607843 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 0.2823529411764706 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 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 0.2823529411764706 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 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 534.15 606.9833984375 m 543.77890625 606.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.15 608.32 Td (1) Tj ET Q q 0.11372549019607843 0.07058823529411765 1 rg BT 538.78 608.32 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 534 591.9833984375 m 544 591.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 593.32 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 534 531.9833984375 m 544 531.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 533.32 Td (13) 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 (15) 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 (17) 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 (28) 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 (30) 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 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0.07058823529411765 1 rg BT 534.00 343.32 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 M 534 326.9833984375 m 544 326.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 328.32 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 M 534 301.9833984375 m 544 301.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 303.32 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 M 534 286.9833984375 m 544 286.9833984375 l s q 0.11372549019607843 0.07058823529411765 1 rg BT 534.00 288.32 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 M 534 226.9833984375 m 544 226.9833984375 l s q 0.11372549019607843 0.07058823529411765 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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 2018 revenue of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.85 Td (about $1.3 billion and approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.53 652.85 Td (5,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.03 652.85 Td ( employees, today the Company designs, manufactures and distributes water and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.85 Td (fuel 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 residential, 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 (The Company also sells various groundwater equipment products to well installation contractors, including water ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.85 Td (pumping systems, through its distribution branches located in the U.S. ) Tj ET Q q 0 0 0 rg BT 335.90 592.85 Td (W) Tj ET Q q 0 0 0 rg BT 344.94 592.85 Td (ith a growing global footprint, the Company has also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.85 Td (evolved into a top supplier of submersible fueling systems at gas stations, making pumps, pipes, electronic controls, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.85 Td (monitoring devices.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.85 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 544.85 Td (s products are sold worldwide by its employee sales force and independent manufacturing representatives. ) Tj ET Q q 0 0 0 rg BT 539.39 544.85 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.85 Td (Company of) Tj ET Q q 0 0 0 rg BT 99.54 532.85 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 50.00 520.85 Td (Special inventory requirements are not necessary) Tj ET Q q 0 0 0 rg BT 245.66 520.85 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 50.00 508.85 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 50 477.88505859375 m 234.6826171875 477.88505859375 l s q 0 0 0 rg BT 50.00 479.45 Td (Franklin Electric) Tj ET Q q 0 0 0 rg BT 126.56 479.45 Td (s Key Factors for) Tj ET Q q 0 0 0 rg BT 199.96 479.45 Td ( Success) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.45 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 458.39 467.45 Td (, availability) Tj ET Q q 0 0 0 rg BT 507.72 467.45 Td (, service, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.45 Td (innovation, and cost in every encounter the Company has with stakeholders, including direct or indirect customers, employees, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.45 Td (shareholders, and suppliers. ) Tj ET Q q 0 0 0 rg BT 165.90 443.45 Td (These key factors for success are a roadmap to ensure the Company can grow as a global provider ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.45 Td (of water and fuel systems, through geographic expansion and product line extensions, leveraging its global platform and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.45 Td (competency in system design, all while consistently of) Tj ET Q q 0 0 0 rg BT 268.11 419.45 Td (fering the best value to its customer) Tj ET Q q 0 0 0 rg BT 410.30 419.45 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 50 388.48505859375 m 160.5712890625 388.48505859375 l s q 0 0 0 rg BT 50.00 390.05 Td (Markets and ) Tj ET Q q 0 0 0 rg BT 106.67 390.05 Td (Applications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.05 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 378.05 Td (s business consists of three reportable segments based on the principal end market served: ) Tj ET Q q 0 0 0 rg BT 471.66 378.05 Td (W) Tj ET Q q 0 0 0 rg BT 480.29 378.05 Td (ater Systems, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.05 Td (Fueling Systems, and Distribution segments. ) Tj ET Q q 0 0 0 rg BT 233.71 366.05 Td (The Company includes unallocated corporate expenses in an Intersegment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.05 Td (Eliminations/Other segment that, together with the ) Tj ET Q q 0 0 0 rg BT 259.49 354.05 Td (W) Tj ET Q q 0 0 0 rg BT 268.13 354.05 Td (ater Systems, Fueling Systems, and Distribution segments, represent the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.05 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 342.05 Td (. Segment and geographic information appears in Note 16, Segment and Geographic Information to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.05 Td (consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.05 Td (The market for the Company) Tj ET Q q 0 0 0 rg BT 168.85 306.05 Td (s products is highly competitive and includes diversified accounts by size and type. ) Tj ET Q q 0 0 0 rg BT 506.65 306.05 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.05 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 294.05 Td (s ) Tj ET Q q 0 0 0 rg BT 97.88 294.05 Td (W) Tj ET Q q 0 0 0 rg BT 106.51 294.05 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 50.00 282.05 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 50.00 270.05 Td (utility companies. ) Tj ET Q q 0 0 0 rg BT 123.97 270.05 Td (The Company) Tj ET Q q 0 0 0 rg BT 183.69 270.05 Td (s Distribution segment sells products primarily to water well contractors. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 246.05 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 246.05 Td (ater Systems Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.05 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 234.05 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 50.00 222.05 Td (submersible motors, pumps, drives, electronic controls, and monitoring devices. ) Tj ET Q q 0 0 0 rg BT 375.03 222.05 Td (The ) Tj ET Q q 0 0 0 rg BT 392.90 222.05 Td (W) Tj ET Q q 0 0 0 rg BT 401.54 222.05 Td (ater Systems segment designs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.05 Td (manufactures and sells motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.05 Td (primarily for use in groundwater) Tj ET Q q 0 0 0 rg BT 180.12 198.05 Td (, wastewater) Tj ET Q q 0 0 0 rg BT 229.69 198.05 Td (, and fuel transfer applications. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.05 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 174.05 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 50.00 162.05 Td (agricultural, and industrial applications. ) Tj ET Q q 0 0 0 rg BT 213.94 162.05 Td (W) Tj ET Q q 0 0 0 rg BT 222.58 162.05 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 50.00 150.05 Td (control functionality and provide protection from various hazards, such as electrical sur) Tj ET Q q 0 0 0 rg BT 399.70 150.05 Td (ges, over) Tj ET Q q 0 0 0 rg BT 435.60 150.05 Td (-heating, dry wells or dry ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.05 Td (tanks. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.05 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 114.05 Td (W) Tj ET Q q 0 0 0 rg BT 76.50 114.05 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 50.00 102.05 Td (and components for the movement of water) Tj ET Q q 0 0 0 rg BT 223.84 102.05 Td (. Founded in the 1940s, the Company began as a manufacturer of submersible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.85 Td (motors for pumps. In 2004, it entered the pump business, and has since grown through acquisitions. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.05 88.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 88.85 Td (Highlights of the ) Tj ET Q q 0 0 0 rg BT 523.90 88.85 Td (W) Tj ET Q q 0 0 0 rg BT 532.54 88.85 Td (ater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.85 Td (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 52.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 52.85 Td (1950s - Domestic submersible motor manufacturer) 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 (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 68.00 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 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 68.00 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (2006 - ) Tj ET Q q 0 0 0 rg BT 113.78 718.10 Td (Added adjacent pumping systems, acquired Little Giant Pump Company) Tj ET Q q 0 0 0 rg BT 403.35 718.10 Td (, United States) 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 (2007 - Expanded globally) Tj ET Q q 0 0 0 rg BT 188.94 706.10 Td (, acquired Pump Brands \(Pty\) Limited, South ) Tj ET Q q 0 0 0 rg BT 371.98 706.10 Td (Africa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 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 68.00 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (2009 - International acquisition, ) Tj ET Q q 0 0 0 rg BT 216.62 682.10 Td (V) Tj ET Q q 0 0 0 rg BT 222.73 682.10 Td (ertical, S.p.A., Italy) 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 (201) Tj ET Q q 0 0 0 rg BT 100.63 670.10 Td (1 - International acquisition, Impo Motor Pompa Sanayi ve ) Tj ET Q q 0 0 0 rg BT 339.29 670.10 Td (T) Tj ET Q q 0 0 0 rg BT 345.05 670.10 Td (icaret ) Tj ET Q q 0 0 0 rg BT 369.20 670.10 Td (A.S., ) Tj ET Q q 0 0 0 rg BT 391.80 670.10 Td (T) Tj ET Q q 0 0 0 rg BT 397.56 670.10 Td (urkey ) 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 (2012 - ) Tj ET Q q 0 0 0 rg BT 113.78 658.10 Td (Acquired majority interest, 70.5%, in mobile pumping systems company) Tj ET Q q 0 0 0 rg BT 403.92 658.10 Td (, Pioneer Pump Holdings, Inc. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td (\(PPH\), a United States company with subsidiaries in the United Kingdom and South ) Tj ET Q q 0 0 0 rg BT 434.29 646.10 Td (Africa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 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 86.00 622.10 Td (Private Limited, India) 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 (2015 - ) Tj ET Q q 0 0 0 rg BT 113.78 610.10 Td (Acquired remaining 29.5% noncontrolling interest of PPH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (2017 - ) Tj ET Q q 0 0 0 rg BT 113.78 598.10 Td (Acquired remaining 10% noncontrolling interest of Impo) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 586.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (2018 - International acquisition, Industrias Rotor Pump S.A., ) Tj ET Q q 0 0 0 rg BT 332.09 586.10 Td (Ar) Tj ET Q q 0 0 0 rg BT 342.46 586.10 Td (gentina) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 562.10 Td (ater Systems products are sold in highly competitive markets. ) Tj ET Q q 0 0 0 rg BT 309.79 562.10 Td (W) Tj ET Q q 0 0 0 rg BT 318.43 562.10 Td (ater Systems contributes about 60 to 65 percent of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 550.10 Td (s total revenue. Significant portions of segment revenue come from selling groundwater and surface pumps for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (residential and commercial buildings, as well as agricultural sales which are more seasonal and subject to commodity price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (changes. ) Tj ET Q q 0 0 0 rg BT 89.53 526.10 Td (The ) Tj ET Q q 0 0 0 rg BT 107.39 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 116.03 526.10 Td (ater Systems segment generates approximately 40 percent of its revenue in developing markets, which often ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (lack municipal water systems. ) Tj ET Q q 0 0 0 rg BT 172.47 514.10 Td (As those countries bring systems up to date, the Company views those markets as an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (opportunity) Tj ET Q q 0 0 0 rg BT 96.02 502.10 Td (. ) Tj ET Q q 0 0 0 rg BT 100.83 502.10 Td (The Company has had 6 to 8 percent compounded annual sales growth in developing regions in recent years. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 490.10 Td (ater Systems competes in each of its tar) Tj ET Q q 0 0 0 rg BT 216.46 490.10 Td (geted markets based on product design, quality of products and services, performance, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (availability) Tj ET Q q 0 0 0 rg BT 94.34 478.10 Td (, and price. ) Tj ET Q q 0 0 0 rg BT 143.58 478.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 203.29 478.10 Td (s principal competitors in the specialty water products industry are Grundfos ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 104.15 466.10 Td (A/S, Pentair) Tj ET Q q 0 0 0 rg BT 152.64 466.10 Td (, Inc., and Xylem, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 72.32 442.10 Td (W) Tj ET Q q 0 0 0 rg BT 80.96 442.10 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 68.00 418.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 418.10 Td (Electronic drives and controls for pumping and HV) Tj ET Q q 0 0 0 rg BT 290.49 418.10 Td (AC applications, including SubDrive Utility) Tj ET Q q 0 0 0 rg BT 466.77 418.10 Td (, MonoDrive Utility) Tj ET Q q 0 0 0 rg BT 546.40 418.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td (and Q-Link.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.10 Td (Solar pumping technology) Tj ET Q q 0 0 0 rg BT 191.45 394.10 Td (, including new expanded models from 1/2 to 10 horsepower and new accessories for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.10 Td (Fhoton Solar Pumping Systems.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 370.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.10 Td (Submersible and surface pumps for residential, commercial, municipal, and agricultural applications including the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.10 Td (SpecPak and Inline Delta pressure boosting systems.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 346.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.10 Td (Greywater pumping equipment, including the new Little Giant Select ) Tj ET Q q 0 0 0 rg BT 365.75 346.10 Td (W) Tj ET Q q 0 0 0 rg BT 374.38 346.10 Td (astewater Pump Series and expanded FPS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 334.10 Td (Non-Clog products up to 25 horsepower) Tj ET Q q 0 0 0 rg BT 246.82 334.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 322.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 322.10 Td (Submersible motor technology and motor protection, including expanded scope of the MagForce high ef) Tj ET Q q 0 0 0 rg BT 513.85 322.10 Td (ficiency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 310.10 Td (permanent magnet motor systems.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Fueling Systems Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 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 50.00 262.10 Td (monitoring and control systems. ) Tj ET Q q 0 0 0 rg BT 183.70 262.10 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 50.00 250.10 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 50.00 238.10 Td (submersible fueling system applications.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (Fuel pumping systems are used principally in total system solutions for under) Tj ET Q q 0 0 0 rg BT 360.06 214.10 Td (ground gasoline, diesel, and biofuel systems. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Fueling systems also of) Tj ET Q q 0 0 0 rg BT 143.98 202.10 Td (fers an array of components between the tank and the dispenser) Tj ET Q q 0 0 0 rg BT 397.38 202.10 Td (, including submersible pumps, station ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (hardware, piping, sumps, vapor recovery and electronic controls. ) Tj ET Q q 0 0 0 rg BT 311.95 190.10 Td (The segment serves other ener) Tj ET Q q 0 0 0 rg BT 433.39 190.10 Td (gy markets such as power ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (reliability systems and includes intelligent electronic devices that are designed for online monitoring for the power utility) Tj ET Q q 0 0 0 rg BT 534.22 178.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (hydroelectric, and industrial markets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.10 Td (Fueling Systems has expanded its product of) Tj ET Q q 0 0 0 rg BT 228.69 146.10 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 50.00 134.10 Td (Systems history are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 110.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 110.10 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 98.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 98.10 Td (2000 - ) Tj ET Q q 0 0 0 rg BT 113.78 98.10 Td (Acquired ) Tj ET Q q 0 0 0 rg BT 152.93 98.10 Td (Advanced Polymer ) Tj ET Q q 0 0 0 rg BT 232.18 98.10 Td (T) Tj ET Q q 0 0 0 rg BT 237.59 98.10 Td (echnology) Tj ET Q q 0 0 0 rg BT 278.59 98.10 Td (, Inc., a manufacturer of under) Tj ET Q q 0 0 0 rg BT 400.02 98.10 Td (ground pipe for fueling applications, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 86.10 Td (and EBW) Tj ET Q q 0 0 0 rg BT 124.24 86.10 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 74.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 74.10 Td (2006 - ) Tj ET Q q 0 0 0 rg BT 113.78 74.10 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 62.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 62.10 Td (2010 - ) Tj ET Q q 0 0 0 rg BT 113.78 62.10 Td (Acquired PetroT) Tj ET Q q 0 0 0 rg BT 180.00 62.10 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 50.10 Td (under) Tj ET Q q 0 0 0 rg BT 108.59 50.10 Td (ground pipe) 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 (2012 - ) Tj ET Q q 0 0 0 rg BT 113.78 742.10 Td (Acquired Flex-ing, 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 68.00 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (2016 - ) Tj ET Q q 0 0 0 rg BT 113.78 730.10 Td (Acquired GridSense, Inc., a manufacturer of remote monitoring equipment for distribution transformers and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (distribution lines) 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 (2018 - ) Tj ET Q q 0 0 0 rg BT 113.78 706.10 Td (Acquired the assets of the Stationary Power Division \(SPD\) of Midtronics, Inc., a manufacturer of battery ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (testing and monitoring equipment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Fueling Systems products are sold in highly competitive markets. Rising car use is leading to more investment in fueling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (stations which, in turn, leads to increased demand for the Company) Tj ET Q q 0 0 0 rg BT 322.16 658.10 Td (s Fueling Systems products. ) Tj ET Q q 0 0 0 rg BT 439.20 658.10 Td (The Company believes there ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (is growth opportunity in developing markets. Fueling Systems competes in each of its tar) Tj ET Q q 0 0 0 rg BT 408.93 646.10 Td (geted markets based on product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (design, quality of products and services, performance, availability) Tj ET Q q 0 0 0 rg BT 313.15 634.10 Td (, and price. ) Tj ET Q q 0 0 0 rg BT 362.40 634.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 422.11 634.10 Td (s principal competitors in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (petroleum equipment industry are Fortive Corporation and Dover Corporation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (2018 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 68.00 574.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 574.10 Td (Developed and launched sumps and fittings for the China market to meet specific customer requirements for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (double wall pipe upgrade initiative.) 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 (Developed products for corrosion control of pumps, tanks and other components that are subject to accelerated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.10 Td (corrosion.) 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 (Developed and launched new fiber) Tj ET Q q 0 0 0 rg BT 225.20 526.10 Td (glass containment sump solutions to address EP) Tj ET Q q 0 0 0 rg BT 415.94 526.10 Td (A) Tj ET Q q 0 0 0 rg BT 422.61 526.10 Td ( regulatory requirements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.10 Td (Developed and launched product enhancements to the EVO Series family of ) Tj ET Q q 0 0 0 rg BT 403.20 514.10 Td (Automatic ) Tj ET Q q 0 0 0 rg BT 447.73 514.10 Td (T) Tj ET Q q 0 0 0 rg BT 453.14 514.10 Td (ank Gauges. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (Distribution Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (The Distribution Segment is operated as a collection of wholly owned leading groundwater distributors known as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Headwater Companies. Headwater Companies deliver quality products and leading brands to the industry) Tj ET Q q 0 0 0 rg BT 471.73 466.10 Td (, providing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (contractors with the availability and service they demand to meet their application challenges. ) Tj ET Q q 0 0 0 rg BT 428.02 454.10 Td (The Distribution segment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (operates within the U.S. professional groundwater market. Highlights of the Distribution Segment are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 418.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 418.10 Td (2017 - ) Tj ET Q q 0 0 0 rg BT 113.78 418.10 Td (Acquired controlling interests in three distributors in the U.S. professional groundwater market, creating the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td (new Distribution Segment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.10 Td (2018 - ) Tj ET Q q 0 0 0 rg BT 113.78 394.10 Td (Acquired ) Tj ET Q q 0 0 0 rg BT 153.30 394.10 Td (V) Tj ET Q q 0 0 0 rg BT 159.42 394.10 Td (alley Farms Supply) Tj ET Q q 0 0 0 rg BT 236.54 394.10 Td (, Inc., a professional groundwater distributor operating in the mid-west ) 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 50 363.13505859375 m 257.7685546875 363.13505859375 l s q 0 0 0 rg BT 50.00 364.70 Td (Information Regarding ) Tj ET Q q 0 0 0 rg BT 151.67 364.70 Td (All Reportable Segments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 352.70 Td (Research and Development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.70 Td (The Company incurred research and development expense as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 303.20 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 303.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 303.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 303.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 303.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 303.20 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 358.5 303.2 m 423.5 303.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 303.2 m 492.5 303.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 303.2 m 561.5 303.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 303.2 m 423.5 303.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 303.2 m 492.5 303.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 303.2 m 561.5 303.2 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 307.87 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 307.87 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 307.87 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 307.87 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 292.87 Td (Research and development expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 292.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 292.87 Td (22.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 292.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 292.87 Td (20.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 292.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 292.87 Td (21.5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.70 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 50.00 252.70 Td (manufacturing methods, and other applied research and development.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.70 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 50.00 216.70 Td (to the operation of the business; however) Tj ET Q q 0 0 0 rg BT 214.00 216.70 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 50.00 204.70 Td (group of patents.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 180.70 Td (Raw Materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.70 Td (The principal raw materials used in the manufacture of the Company) Tj ET Q q 0 0 0 rg BT 328.24 168.70 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 50.00 156.70 Td (wire, and aluminum ingot. Major components are electric motors, capacitors, motor protectors, for) Tj ET Q q 0 0 0 rg BT 446.37 156.70 Td (gings, gray iron castings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.70 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 50.00 132.70 Td (markets. Generally) Tj ET Q q 0 0 0 rg BT 127.93 132.70 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 50.00 120.70 Td (material and purchased component needs; however) Tj ET Q q 0 0 0 rg BT 254.24 120.70 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 50.00 108.70 Td (certain materials or components. ) Tj ET Q q 0 0 0 rg BT 185.33 108.70 Td (The Company believes that availability of fuel and ener) Tj ET Q q 0 0 0 rg BT 407.85 108.70 Td (gy is adequate to satisfy current and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.70 Td (projected overall operations unless interrupted by government direction, allocation or other disruption.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 72.70 Td (Major Customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.70 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 60.70 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.91 60.70 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.91 60.70 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.91 60.70 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.74 60.70 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.74 60.70 Td (. No single customer accounted for over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.70 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 48.70 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.21 48.70 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.65 48.70 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 48.70 Td (. ) 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 /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (Backlog) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (The dollar amount of backlog by segment was as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 670.75 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 670.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 670.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 670.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 640.75 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 640.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 640.75 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 427.5 670.75 m 492.5 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 670.75 m 561.5 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 670.75 m 492.5 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 670.75 m 561.5 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 625.75 m 492.5 625.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 625.75 m 561.5 625.75 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 427.5 609.75 m 492.5 609.75 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 496.5 609.75 m 561.5 609.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 675.42 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.95 685.42 Td (February 12,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 675.42 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.95 685.42 Td (February 13,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 675.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 660.42 Td (W) Tj ET Q q 0 0 0 rg BT 61.04 660.42 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 660.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 660.42 Td (66.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 660.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 660.42 Td (75.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 645.42 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 645.42 Td (18.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 645.42 Td (18.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 630.42 Td (Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 630.42 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 630.42 Td (6.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 615.42 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 615.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 615.42 Td (90.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 615.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 615.42 Td (100.5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.25 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 50.00 575.25 Td (standard catalog items. ) Tj ET Q q 0 0 0 rg BT 146.36 575.25 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 356.28 575.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.28 575.25 Td (.) Tj ET Q q 0 0 0 rg BT 383.60 575.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 443.31 575.25 Td (s sales in the first quarter are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 563.25 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 50.00 551.25 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 50.00 539.25 Td (be a significant indicator of future sales.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 515.25 Td (Environmental Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.25 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 520.77 503.25 Td (ge of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.25 Td (material into the environment, or otherwise relating to the protection of the environment. ) Tj ET Q q 0 0 0 rg BT 410.27 491.25 Td (The Company has not experienced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.25 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 50.00 467.25 Td (material ef) Tj ET Q q 0 0 0 rg BT 92.85 467.25 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 514.89 467.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 443.25 Td (A) Tj ET Q q 0 0 0 rg BT 55.93 443.25 Td (vailable Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 431.25 Td (s website address is ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 190.81 431.25 Td (www) Tj ET Q q 0 0 0 rg BT 210.08 431.25 Td (.franklin-electric.com) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.71 431.25 Td (. ) Tj ET Q q 0 0 0 rg BT 304.03 431.25 Td (The Company makes available free of char) Tj ET Q q 0 0 0 rg BT 476.00 431.25 Td (ge on or through its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.25 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 50.00 407.25 Td (those reports, as soon as reasonably practicable after such material is electronically filed with or furnished to the Securities and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.25 Td (Exchange Commission. ) Tj ET Q q 0 0 0 rg BT 149.44 395.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 199.34 395.25 Td (, the Company) Tj ET Q q 0 0 0 rg BT 260.72 395.25 Td (s website includes the Company) Tj ET Q q 0 0 0 rg BT 392.37 395.25 Td (s corporate governance guidelines, its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.25 Td (Board committee charters, and the Company) Tj ET Q q 0 0 0 rg BT 231.61 383.25 Td (s code of business conduct and ethics. Information contained on the Company) Tj ET Q q 0 0 0 rg BT 549.04 383.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.25 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 50.00 347.25 Td (ITEM 1A. RISK F) Tj ET Q q 0 0 0 rg BT 128.71 347.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 149.64 347.25 Td (ORS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.25 Td (The following describes the principal risks af) Tj ET Q q 0 0 0 rg BT 230.88 323.25 Td (fecting the Company and its business.) Tj ET Q q 0 0 0 rg BT 386.97 323.25 Td (Additional risks and uncertainties, not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.25 Td (presently known to the Company) Tj ET Q q 0 0 0 rg BT 182.11 311.25 Td (, could negatively impact the Company) Tj ET Q q 0 0 0 rg BT 342.07 311.25 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 50.00 299.25 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 50 273.68505859375 m 175.009765625 273.68505859375 l s q 0 0 0 rg BT 50.00 275.25 Td (Risks Related to the Industry) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 251.25 Td (Reduced housing starts adversely af) Tj ET Q q 0 0 0 rg BT 197.60 251.25 Td (fect demand for the Company) Tj ET Q q 0 0 0 rg BT 322.40 251.25 Td (s products, thereby reducing revenues and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 239.25 Td (earnings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.62 239.25 Td (Demand for certain Company products is af) Tj ET Q q 0 0 0 rg BT 268.95 239.25 Td (fected by housing starts. ) Tj ET Q q 0 0 0 rg BT 370.97 239.25 Td (V) Tj ET Q q 0 0 0 rg BT 377.08 239.25 Td (ariation in housing starts due to economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.25 Td (volatility both within the United States and globally could adversely impact gross mar) Tj ET Q q 0 0 0 rg BT 394.20 227.25 Td (gins and operating results.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 203.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 110.64 203.25 Td (s results may be adversely af) Tj ET Q q 0 0 0 rg BT 227.39 203.25 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 50.00 190.05 Td (energy and mining industries.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 175.86 190.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.61 190.05 Td (The ener) Tj ET Q q 0 0 0 rg BT 213.68 190.05 Td (gy and mining industries are users of the Company) Tj ET Q q 0 0 0 rg BT 420.31 190.05 Td (s products, including the coal, iron ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.05 Td (ore, gold, copper) Tj ET Q q 0 0 0 rg BT 117.35 178.05 Td (, oil, and natural gas industries. Decisions to purchase the Company) Tj ET Q q 0 0 0 rg BT 391.46 178.05 Td (s products are dependent upon the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.05 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 50.00 154.05 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 50.00 142.05 Td (will generally decrease. ) Tj ET Q q 0 0 0 rg BT 146.99 142.05 Td (The ener) Tj ET Q q 0 0 0 rg BT 182.07 142.05 Td (gy and mining industries) Tj ET Q q 0 0 0 rg BT 283.81 142.05 Td ( 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 50.00 130.05 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 50.00 118.05 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 50.00 106.05 Td (sales, gross mar) Tj ET Q q 0 0 0 rg BT 113.42 106.05 Td (gin, and operating results. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 82.05 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 82.05 Td (fect ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 70.05 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.84 70.05 Td () Tj ET Q q 0 0 0 rg BT 100.66 70.05 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 58.05 Td (for the sourcing of certain finished goods.) Tj ET Q q 0 0 0 rg BT 221.90 58.05 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 271.24 58.05 Td (, the cost of its products may be af) Tj ET Q q 0 0 0 rg BT 408.53 58.05 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 46.05 Td (of raw materials, sourced components, or finished goods.) Tj ET Q q 0 0 0 rg BT 283.65 46.05 Td (The Company and its suppliers also use natural gas and electricity in ) 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 (manufacturing products both of which have historically been volatile.) Tj ET Q q 0 0 0 rg BT 333.35 742.10 Td (The Company does not generally engage in commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (hedging for raw materials and ener) Tj ET Q q 0 0 0 rg BT 189.48 730.10 Td (gy) Tj ET Q q 0 0 0 rg BT 198.83 730.10 Td (.Significant increases in the prices of commodities, sourced components, finished goods, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (ener) Tj ET Q q 0 0 0 rg BT 67.03 718.10 Td (gy or other commodities could cause product prices to increase, which may reduce demand for products or make the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Company more susceptible to competition.Furthermore, in the event the Company is unable to pass along increases in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (operating costs to its customers, mar) Tj ET Q q 0 0 0 rg BT 195.90 694.10 Td (gins and profitability may be adversely af) Tj ET Q q 0 0 0 rg BT 362.34 694.10 Td (fected.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 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 50.00 658.10 Td (demand for private water wells and the Company) Tj ET Q q 0 0 0 rg BT 254.54 658.10 Td (s products, thereby reducing revenues and earnings.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.05 658.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.55 658.10 Td (Demand for certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (Company products is af) Tj ET Q q 0 0 0 rg BT 145.08 646.10 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 50.00 634.10 Td (municipal water systems. Many economic and other factors outside the Company) Tj ET Q q 0 0 0 rg BT 381.03 634.10 Td (s control, including Federal and State ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (regulations on water quality) Tj ET Q q 0 0 0 rg BT 161.26 622.10 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 50.00 610.10 Td (wells. ) Tj ET Q q 0 0 0 rg BT 78.06 610.10 Td (A) Tj ET Q q 0 0 0 rg BT 84.73 610.10 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 50.00 598.10 Td (markets the Company serves could reduce demand for the Company) Tj ET Q q 0 0 0 rg BT 326.31 598.10 Td (s products and adversely impact sales, gross mar) Tj ET Q q 0 0 0 rg BT 520.52 598.10 Td (gins, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (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 (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 50.00 550.10 Td (costs and revenues.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.72 550.10 Td (Environmental legislation related to air quality and fuel containment may create demand for certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Fueling Systems products which must be supplied in a relatively short time frame to meet the governmental mandate.During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (periods of increased demand the Company) Tj ET Q q 0 0 0 rg BT 223.56 526.10 Td (s revenues and profitability could increase significantly) Tj ET Q q 0 0 0 rg BT 444.51 526.10 Td (, although the Company can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (also be at risk of not having capacity to meet demand or cost overruns due to inef) Tj ET Q q 0 0 0 rg BT 375.28 514.10 Td (ficiencies during ramp up to the higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (production levels.) Tj ET Q q 0 0 0 rg BT 126.10 502.10 Td (After the Company) Tj ET Q q 0 0 0 rg BT 206.08 502.10 Td (s customers have met the compliance requirements, the Company) Tj ET Q q 0 0 0 rg BT 471.28 502.10 Td (s revenues and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (profitability may decrease significantly as the demand for certain products declines substantially) Tj ET Q q 0 0 0 rg BT 435.06 490.10 Td (.) Tj ET Q q 0 0 0 rg BT 442.38 490.10 Td (The risk of not reducing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (production costs in relation to the decreased demand and reduced revenues could have a material adverse impact on gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (mar) Tj ET Q q 0 0 0 rg BT 65.37 466.10 Td (gins and the Company) Tj ET Q q 0 0 0 rg BT 157.86 466.10 Td (s results of operations.) 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 (Changes in tax legislation regarding the Company) Tj ET Q q 0 0 0 rg BT 260.40 442.10 Td (s U.S. or foreign earnings could materially af) Tj ET Q q 0 0 0 rg BT 447.18 442.10 Td (fect future results. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.46 442.10 Td (Since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (the Company operates in dif) Tj ET Q q 0 0 0 rg BT 163.13 430.10 Td (ferent countries and is subject to taxation in dif) Tj ET Q q 0 0 0 rg BT 351.23 430.10 Td (ferent jurisdictions, the Company) Tj ET Q q 0 0 0 rg BT 487.87 430.10 Td (s future ef) Tj ET Q q 0 0 0 rg BT 528.22 430.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (tax rates could be impacted by changes in such countries) Tj ET Q q 0 0 0 rg BT 279.46 418.10 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 50.00 406.10 Td (laws are subject to change as a result of changes in fiscal policy) Tj ET Q q 0 0 0 rg BT 304.26 406.10 Td (, legislation, evolution of regulation and court rulings.) Tj ET Q q 0 0 0 rg BT 525.15 406.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 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 541.68 394.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (The Company cannot predict whether any proposed changes in tax laws will be enacted into law or what, if any) Tj ET Q q 0 0 0 rg BT 495.88 382.10 Td (, changes may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (be made to any such proposals prior to their being enacted into law) Tj ET Q q 0 0 0 rg BT 317.61 370.10 Td (. If the tax laws change in a manner that increases 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 tax obligation,it could have a material adverse impact on the Company) Tj ET Q q 0 0 0 rg BT 386.30 358.10 Td (s results of operations and financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (The U.S. ) Tj ET Q q 0 0 0 rg BT 88.15 322.10 Td (T) Tj ET Q q 0 0 0 rg BT 93.56 322.10 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 163.01 322.10 Td (Act \(T) Tj ET Q q 0 0 0 rg BT 188.69 322.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 200.07 322.10 Td (Act\) was enacted on December 22, 2017 and introduced significant changes to U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (income tax law) Tj ET Q q 0 0 0 rg BT 110.44 310.10 Td (. Ef) Tj ET Q q 0 0 0 rg BT 124.70 310.10 Td (fective in 2018, the ) Tj ET Q q 0 0 0 rg BT 204.21 310.10 Td (T) Tj ET Q q 0 0 0 rg BT 209.62 310.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 221.01 310.10 Td (Act reduced the U.S. statutory tax rate from 35 percent to 21 percent, modified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (existing provisions, and created new provisions including a U.S. based foreign export incentive referred to as Foreign Derived ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Intangible Income. In addition, in 2017 the Company was subject to a one-time transition tax on accumulated foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (subsidiary earnings not previously subject to U.S. income tax. Due to the timing of the enactment and the complexity involved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (in applying the provisions of the ) Tj ET Q q 0 0 0 rg BT 182.03 262.10 Td (T) Tj ET Q q 0 0 0 rg BT 187.44 262.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 198.82 262.10 Td (Act, the Company made reasonable estimates of the ef) Tj ET Q q 0 0 0 rg BT 416.62 262.10 Td (fects and recorded provisional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (amounts in our financial statements as of December 31, 2017. ) Tj ET Q q 0 0 0 rg BT 299.75 250.10 Td (The Company continued to review the provisional amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (throughout 2018, making adjustments as necessary and permitted by the standard setting bodies. ) Tj ET Q q 0 0 0 rg BT 439.93 238.10 Td (As of December 31, 2018, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (accounting for the tax ef) Tj ET Q q 0 0 0 rg BT 147.55 226.10 Td (fects of the ) Tj ET Q q 0 0 0 rg BT 194.30 226.10 Td (T) Tj ET Q q 0 0 0 rg BT 199.71 226.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 211.09 226.10 Td (Act is complete.) 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 50 200.53505859375002 m 174.4580078125 200.53505859375002 l s q 0 0 0 rg BT 50.00 202.10 Td (Risks Related to the Business) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 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 518.94 178.10 Td () Tj ET Q q 0 0 0 rg BT 523.75 178.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Company has significant operations outside the United States, including Europe, South ) Tj ET Q q 0 0 0 rg BT 400.23 166.10 Td (Africa, Brazil, Mexico, India, China, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 154.10 Td (urkey and ) Tj ET Q q 0 0 0 rg BT 97.41 154.10 Td (Ar) Tj ET Q q 0 0 0 rg BT 107.78 154.10 Td (gentina.Further) Tj ET Q q 0 0 0 rg BT 173.75 154.10 Td (, the Company obtains raw materials and finished goods from foreign suppliers.) Tj ET Q q 0 0 0 rg BT 497.30 154.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 546.64 154.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 142.10 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 50.00 130.10 Td (business.) Tj ET Q q 0 0 0 rg BT 91.21 130.10 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 50.00 118.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 106.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 106.10 Td (Dif) Tj ET Q q 0 0 0 rg BT 108.15 106.10 Td (ficulty ) Tj ET Q q 0 0 0 rg BT 136.75 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 147.03 106.10 Td (enforcing ) Tj ET Q q 0 0 0 rg BT 187.85 106.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 235.88 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 252.82 106.10 Td (collecting ) Tj ET Q q 0 0 0 rg BT 294.75 106.10 Td (receivables ) Tj ET Q q 0 0 0 rg BT 342.22 106.10 Td (through ) Tj ET Q q 0 0 0 rg BT 375.83 106.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 407.20 106.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 429.14 106.10 Td (systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 94.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 94.10 Td (T) Tj ET Q q 0 0 0 rg BT 100.76 94.10 Td (rade ) Tj ET Q q 0 0 0 rg BT 120.46 94.10 Td (protection ) Tj ET Q q 0 0 0 rg BT 163.51 94.10 Td (measures ) Tj ET Q q 0 0 0 rg BT 203.21 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 220.15 94.10 Td (import ) Tj ET Q q 0 0 0 rg BT 249.32 94.10 Td (or ) Tj ET Q q 0 0 0 rg BT 260.15 94.10 Td (export ) Tj ET Q q 0 0 0 rg BT 288.19 94.10 Td (licensing ) Tj ET Q q 0 0 0 rg BT 326.80 94.10 Td (requirements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 82.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 82.10 Td (Inability ) Tj ET Q q 0 0 0 rg BT 131.38 82.10 Td (to ) Tj ET Q q 0 0 0 rg BT 141.66 82.10 Td (obtain ) Tj ET Q q 0 0 0 rg BT 169.16 82.10 Td (raw ) Tj ET Q q 0 0 0 rg BT 186.65 82.10 Td (materials ) Tj ET Q q 0 0 0 rg BT 225.80 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.73 82.10 Td (finished ) Tj ET Q q 0 0 0 rg BT 277.45 82.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 303.84 82.10 Td (in ) Tj ET Q q 0 0 0 rg BT 314.12 82.10 Td (a ) Tj ET Q q 0 0 0 rg BT 321.06 82.10 Td (timely ) Tj ET Q q 0 0 0 rg BT 349.11 82.10 Td (manner ) Tj ET Q q 0 0 0 rg BT 381.60 82.10 Td (from ) Tj ET Q q 0 0 0 rg BT 403.54 82.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 434.91 82.10 Td (suppliers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 70.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 70.10 Td (Imposition ) Tj ET Q q 0 0 0 rg BT 140.83 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 151.67 70.10 Td (tarif) Tj ET Q q 0 0 0 rg BT 168.14 70.10 Td (fs, ) Tj ET Q q 0 0 0 rg BT 180.36 70.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 220.62 70.10 Td (controls ) Tj ET Q q 0 0 0 rg BT 255.33 70.10 Td (or ) Tj ET Q q 0 0 0 rg BT 266.16 70.10 Td (other ) Tj ET Q q 0 0 0 rg BT 289.21 70.10 Td (restrictions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 58.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 58.10 Td (Dif) Tj ET Q q 0 0 0 rg BT 108.15 58.10 Td (ficulty ) Tj ET Q q 0 0 0 rg BT 136.75 58.10 Td (in ) Tj ET Q q 0 0 0 rg BT 147.03 58.10 Td (staf) Tj ET Q q 0 0 0 rg BT 161.29 58.10 Td (fing ) Tj ET Q q 0 0 0 rg BT 179.90 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 196.84 58.10 Td (managing ) Tj ET Q q 0 0 0 rg BT 238.77 58.10 Td (widespread ) Tj ET Q q 0 0 0 rg BT 286.81 58.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 330.96 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 347.90 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.62 58.10 Td (application ) Tj ET Q q 0 0 0 rg BT 409.55 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 420.38 58.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 451.75 58.10 Td (labor ) Tj ET Q q 0 0 0 rg BT 474.80 58.10 Td (regulations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 46.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 46.10 Td (Compliance ) Tj ET Q q 0 0 0 rg BT 145.82 46.10 Td (with ) Tj ET Q q 0 0 0 rg BT 166.10 46.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 197.48 46.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 218.31 46.10 Td (and ) Tj ET Q q 0 0 0 rg BT 235.24 46.10 Td (regulations) 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 77.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 742.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 131.94 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 142.22 742.10 Td (general ) Tj ET Q q 0 0 0 rg BT 174.14 742.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 215.51 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.45 742.10 Td (political ) Tj ET Q q 0 0 0 rg BT 267.72 742.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 311.88 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 322.16 742.10 Td (countries ) Tj ET Q q 0 0 0 rg BT 361.32 742.10 Td (where ) Tj ET Q q 0 0 0 rg BT 388.25 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 402.96 742.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 444.35 742.10 Td (operates) Tj ET Q 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 50.00 718.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 99.90 718.10 Td (, the Company) Tj ET Q q 0 0 0 rg BT 161.28 718.10 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 50.00 706.10 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 50.00 694.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (If the Company does not anticipate and ef) Tj ET Q q 0 0 0 rg BT 217.27 682.10 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 50.00 670.10 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 50.00 646.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 110.64 646.10 Td (s acquisition strategy entails expense, integration risks, and other risks that could af) Tj ET Q q 0 0 0 rg BT 456.06 646.10 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 530.86 646.10 Td (s ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (earnings and financial condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.81 634.10 Td (One of the Company) Tj ET Q q 0 0 0 rg BT 279.18 634.10 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 50.00 622.10 Td (share through acquisitions that will provide complementary ) Tj ET Q q 0 0 0 rg BT 290.60 622.10 Td (W) Tj ET Q q 0 0 0 rg BT 299.23 622.10 Td (ater and Fueling Systems products, add to the Company) Tj ET Q q 0 0 0 rg BT 525.59 622.10 Td (s global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (reach, or both.) Tj ET Q q 0 0 0 rg BT 112.57 610.10 Td (The Company spends significant time and ef) Tj ET Q q 0 0 0 rg BT 291.24 610.10 Td (fort expanding existing businesses through identifying, pursuing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 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 50.00 586.10 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 50.00 574.10 Td (prices.) Tj ET Q q 0 0 0 rg BT 81.20 574.10 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 50.00 562.10 Td (without substantial costs, delays or other problems.) Tj ET Q q 0 0 0 rg BT 259.79 562.10 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 50.00 550.10 Td (revenues, profitability or cash flows that justify the investment. Failure to manage or mitigate these risks could adversely af) Tj ET Q q 0 0 0 rg BT 546.63 550.10 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 538.10 Td (s results of operations and financial condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 110.64 514.10 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 50.00 502.10 Td (impact sales volume, pricing and profitability) Tj ET Q q 0 0 0 rg BT 235.74 502.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.24 502.10 Td () Tj ET Q q 0 0 0 rg BT 243.06 502.10 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 50.00 490.10 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 50.00 478.10 Td (capabilities of the Company) Tj ET Q q 0 0 0 rg BT 165.25 478.10 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 50.00 466.10 Td (environment.) Tj ET Q q 0 0 0 rg BT 107.49 466.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 157.39 466.10 Td (, some of the Company) Tj ET Q q 0 0 0 rg BT 253.21 466.10 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 50.00 454.10 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 454.10 Td (.) Tj ET Q q 0 0 0 rg BT 95.56 454.10 Td (The Company believes that consistency of product quality) Tj ET Q q 0 0 0 rg BT 327.91 454.10 Td (, timeliness of delivery) Tj ET Q q 0 0 0 rg BT 418.90 454.10 Td (, service, and continued product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (innovation, as well as price, are principal factors considered by customers in selecting suppliers. Competitive factors previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (described may lead to declines in sales or in the prices of the Company) Tj ET Q q 0 0 0 rg BT 336.86 430.10 Td (s products which could have an adverse impact on its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (results of operations and financial condition.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 110.64 394.10 Td (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 450.13 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 454.95 394.10 Td (The Company may) Tj ET Q q 0 0 0 rg BT 530.95 394.10 Td (, from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 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 430.27 382.10 Td (These changes could adversely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (impact sales and operating results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.74 346.10 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 490.49 346.10 Td (The Company is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 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 50.00 322.10 Td (complexes in lower cost regions.) Tj ET Q q 0 0 0 rg BT 186.18 322.10 Td (T) Tj ET Q q 0 0 0 rg BT 191.59 322.10 Td (o implement this strategy) Tj ET Q q 0 0 0 rg BT 292.31 322.10 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 50.00 310.10 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 453.79 310.10 Td (s manufacturing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (capability) Tj ET Q q 0 0 0 rg BT 88.78 298.10 Td (, supply chain, and, ultimately) Tj ET Q q 0 0 0 rg BT 208.94 298.10 Td (, to the Company) Tj ET Q q 0 0 0 rg BT 280.60 298.10 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 50.00 286.10 Td (may include significant severance amounts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 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 50.00 250.10 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 427.22 250.10 Td (The Company has significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (investments outside the United States, including Europe, South ) Tj ET Q q 0 0 0 rg BT 304.42 238.10 Td (Africa, Brazil, Mexico, India, China, ) Tj ET Q q 0 0 0 rg BT 454.19 238.10 Td (T) Tj ET Q q 0 0 0 rg BT 459.95 238.10 Td (urkey and ) Tj ET Q q 0 0 0 rg BT 501.60 238.10 Td (Ar) Tj ET Q q 0 0 0 rg BT 511.97 238.10 Td (gentina. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (Further) Tj ET Q q 0 0 0 rg BT 79.04 226.10 Td (, the Company has sales and makes purchases of raw materials and finished goods in foreign denominated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (currencies.) Tj ET Q q 0 0 0 rg BT 98.03 214.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 147.37 214.10 Td (, the Company has exposure to fluctuations in foreign currency exchange rates relative to the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (dollar) Tj ET Q q 0 0 0 rg BT 72.77 202.10 Td (.Foreign currency exchange rate risk is partially mitigated through several means: maintenance of local production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (facilities in the markets served, invoicing of customers in the same currency as the source of the products, prompt settlement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (inter) Tj ET Q q 0 0 0 rg BT 68.13 178.10 Td (-company balances, limited use of foreign currency denominated debt, and application of derivative instruments when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (appropriate. ) Tj ET Q q 0 0 0 rg BT 102.85 166.10 Td (T) Tj ET Q q 0 0 0 rg BT 108.26 166.10 Td (o the extent that these mitigating strategies are not successful, foreign currency rate fluctuations can have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (material adverse impact on the Company) Tj ET Q q 0 0 0 rg BT 216.89 154.10 Td (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 50.00 142.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 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 50.00 118.10 Td (may cause the Company) Tj ET Q q 0 0 0 rg BT 152.86 118.10 Td (s revenues to decrease.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.73 118.10 Td () Tj ET Q q 0 0 0 rg BT 251.55 118.10 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 50.00 106.10 Td (competition, changes in end-user requirements, and evolving product of) Tj ET Q q 0 0 0 rg BT 337.51 106.10 Td (ferings and introductions.) Tj ET Q q 0 0 0 rg BT 444.81 106.10 Td (The Company believes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 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 94.10 Td (fer) Tj ET Q q 0 0 0 rg BT 438.45 94.10 Td (, on a timely basis, products ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 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 70.10 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 58.10 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.40 58.10 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 172.27 58.10 Td (s revenues.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td () 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 /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 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 50.00 730.25 Td (warranties provided by the Company) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.11 730.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.61 730.25 Td () Tj ET Q q 0 0 0 rg BT 208.43 730.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 268.14 730.25 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 50.00 718.25 Td (subject to government regulations and standards for manufacture, assembly) Tj ET Q q 0 0 0 rg BT 351.21 718.25 Td (, and performance in addition to the warranties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (provided by the Company) Tj ET Q q 0 0 0 rg BT 153.50 706.25 Td (.) Tj ET Q q 0 0 0 rg BT 160.82 706.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 220.53 706.25 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 50.00 694.25 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 416.58 694.25 Td (s reputation, fines or penalties from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (governmental or) Tj ET Q q 0 0 0 rg BT 115.63 682.25 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 50.00 670.25 Td (Company to modify its business objectives and incur additional costs to comply) Tj ET Q q 0 0 0 rg BT 369.03 670.25 Td (. ) Tj ET Q q 0 0 0 rg BT 373.48 670.25 Td (Any liabilities or penalties actually incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 178.92 658.25 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 265.28 658.25 Td (s earnings and operating results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 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 50.00 622.25 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.96 622.25 Td (fect operating results and financial condition. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.31 622.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 352.03 622.25 Td (s total assets reflect substantial intangible assets, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (primarily goodwill. Goodwill results from the Company) Tj ET Q q 0 0 0 rg BT 279.98 610.25 Td (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 50.00 598.25 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 50.00 586.25 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 50.00 574.25 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 574.25 Td (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 546.62 574.25 Td (ge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (to operating earnings for an impairment. ) Tj ET Q q 0 0 0 rg BT 216.06 562.25 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 50.00 550.25 Td (portion of the Company) Tj ET Q q 0 0 0 rg BT 148.60 550.25 Td (s goodwill or intangible assets could have a material adverse impact on the Company) Tj ET Q q 0 0 0 rg BT 492.12 550.25 Td (s results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (operations and financial condition. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 516.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 110.64 516.25 Td (s business may be adversely af) Tj ET Q q 0 0 0 rg BT 235.17 516.25 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 474.33 516.25 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 504.25 Td (experiences seasonal demand in a number of markets within the ) Tj ET Q q 0 0 0 rg BT 308.07 504.25 Td (W) Tj ET Q q 0 0 0 rg BT 316.70 504.25 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 50.00 492.25 Td (follows warm weather trends and is at seasonal highs from ) Tj ET Q q 0 0 0 rg BT 286.61 492.25 Td (April to ) Tj ET Q q 0 0 0 rg BT 319.95 492.25 Td (August in the Northern Hemisphere. Demand for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 480.25 Td (residential and agricultural water systems are also af) Tj ET Q q 0 0 0 rg BT 259.46 480.25 Td (fected by weather) Tj ET Q q 0 0 0 rg BT 330.33 480.25 Td (-related disasters including heavy flooding and drought. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 468.25 Td (Changes in these patterns could reduce demand for the Company) Tj ET Q q 0 0 0 rg BT 312.98 468.25 Td (s products and adversely impact sales, gross mar) Tj ET Q q 0 0 0 rg BT 507.19 468.25 Td (gins, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 456.25 Td (operating results.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 430.75 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 50.00 418.75 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.96 418.75 Td (fect business and results of operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.43 418.75 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 50.00 406.75 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 50.00 394.75 Td (commitments to the Company in terms of delivery or quality) Tj ET Q q 0 0 0 rg BT 292.36 394.75 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 50.00 382.75 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 50.00 370.75 Td (impact the Company) Tj ET Q q 0 0 0 rg BT 136.09 370.75 Td (s business and results of operations. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 345.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 110.64 345.25 Td (s operations are dependent on information technology infrastructure and failures could significantly af) Tj ET Q q 0 0 0 rg BT 535.50 345.25 Td (fect ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 333.25 Td (its business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.46 333.25 Td ( ) Tj ET Q q 0 0 0 rg BT 109.28 333.25 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 50.00 321.25 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 50.00 309.25 Td (important IT) Tj ET Q q 0 0 0 rg BT 100.64 309.25 Td ( application, or an intentional disruption of IT) Tj ET Q q 0 0 0 rg BT 283.75 309.25 Td ( systems by a third party) Tj ET Q q 0 0 0 rg BT 381.14 309.25 Td (, the resulting disruptions could impede the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 297.25 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 437.13 297.25 Td (, or otherwise carry on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 285.25 Td (business in the ordinary course. ) Tj ET Q q 0 0 0 rg BT 178.31 285.25 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 50.00 273.25 Td (expense to be incurred to eliminate these problems and address related security concerns.The Company is also subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.25 Td (certain U.S. and international data protection and cybersecurity regulations. Complying with these laws may subject the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.25 Td (Company to additional costs or require changes to the Company) Tj ET Q q 0 0 0 rg BT 309.67 249.25 Td (s business practices. ) Tj ET Q q 0 0 0 rg BT 392.43 249.25 Td (Any inability to adequately address ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.25 Td (privacy and security concerns or comply with applicable privacy and data security laws, rules and regulations could expose the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.25 Td (Company to potentially significant liabilities.The Company is also in the process of updating its global Enterprise Resource ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.25 Td (Planning \(ERP\) system that will redesign and deploy a common information system over a period of several years. ) Tj ET Q q 0 0 0 rg BT 511.66 213.25 Td (The process ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.25 Td (of implementation can be costly and can divert the attention of management from the day-to-day operations of the business. ) Tj ET Q q 0 0 0 rg BT 547.08 201.25 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.25 Td (the Company implements the ERP) Tj ET Q q 0 0 0 rg BT 187.95 189.25 Td ( system, the new system may not perform as expected, which could have an adverse ef) Tj ET Q q 0 0 0 rg BT 534.04 189.25 Td (fect on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.25 Td (the Company's results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 165.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 153.25 Td (Additional Risks to the Company) Tj ET Q q 0 0 0 rg BT 185.21 153.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.71 153.25 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 50.00 141.25 Td (forth risks and other factors that may af) Tj ET Q q 0 0 0 rg BT 207.82 141.25 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 50.00 129.25 Td (reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 105.25 Td (ITEM 1B. UNRESOL) Tj ET Q q 0 0 0 rg BT 143.27 105.25 Td (VED ST) Tj ET Q q 0 0 0 rg BT 178.37 105.25 Td (AFF) Tj ET Q q 0 0 0 rg BT 197.44 105.25 Td ( COMMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.25 Td (None.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM 2. PROPER) Tj ET Q q 0 0 0 rg BT 129.93 742.25 Td (TIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Franklin Electric serves customers worldwide with over 175 manufacturing and distribution facilities located in over 20 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (countries. ) Tj ET Q q 0 0 0 rg BT 93.97 706.25 Td (The Global Headquarters is located in Fort ) Tj ET Q q 0 0 0 rg BT 267.35 706.25 Td (W) Tj ET Q q 0 0 0 rg BT 275.99 706.25 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 50.00 694.25 Td (administrative of) Tj ET Q q 0 0 0 rg BT 117.86 694.25 Td (fices along with a state of the art research and engineering facility) Tj ET Q q 0 0 0 rg BT 380.70 694.25 Td (. Besides the owned corporate facility) Tj ET Q q 0 0 0 rg BT 533.61 694.25 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Company considers the following to be principal properties:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 644.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 644.75 197.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 644.75 127.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 614.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 614.75 197.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 614.75 127.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 584.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 584.75 197.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 584.75 127.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 554.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 554.75 197.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 554.75 127.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 524.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 524.75 197.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 524.75 127.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 494.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 494.75 197.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 494.75 127.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 464.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 464.75 197.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 464.75 127.00 -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 49.5 644.75 m 237.5 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 644.75 m 434.5 644.75 l s 0 0 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Freigang) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.00 457.42 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 457.42 Td (V) Tj ET Q q 0 0 0 rg BT 202.92 457.42 Td (ice President, Chief Information Of) Tj ET Q q 0 0 0 rg BT 344.44 457.42 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 457.42 Td (2015 - present) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 442.42 Td (Chief Information Of) Tj ET Q q 0 0 0 rg BT 281.44 442.42 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 442.42 Td (2014 - 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 427.42 Td (V) Tj ET Q q 0 0 0 rg BT 202.92 427.42 Td (ice President, Information ) Tj ET Q q 0 0 0 rg BT 309.17 427.42 Td (T) Tj ET Q q 0 0 0 rg BT 314.84 427.42 Td (echnologies - Eaton Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 427.42 Td (201) Tj ET Q q 0 0 0 rg BT 514.81 427.42 Td (1 - 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 412.42 Td (Steven ) Tj ET Q q 0 0 0 rg BT 81.63 412.42 Td (W) Tj ET Q q 0 0 0 rg BT 90.52 412.42 Td (. ) Tj ET Q q 0 0 0 rg BT 94.78 412.42 Td (Aikman) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.00 412.42 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 412.42 Td (V) Tj ET Q q 0 0 0 rg BT 202.92 412.42 Td (ice President, Global ) Tj ET Q q 0 0 0 rg BT 288.62 412.42 Td (W) Tj ET Q q 0 0 0 rg BT 297.57 412.42 Td (ater Systems Engineering) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 412.42 Td (2010 - present) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 389.42 Td (Dr) Tj ET Q q 0 0 0 rg BT 62.28 389.42 Td (. Paul N. Chhabra) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.00 389.42 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 389.42 Td (V) Tj ET Q q 0 0 0 rg BT 202.92 389.42 Td (ice President, Global Product Supply) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 389.42 Td (2018 - present) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 370.42 Td (V) Tj ET Q q 0 0 0 rg BT 202.92 370.42 Td (ice President, Global Supply Chain - ) Tj ET Q q 0 0 0 rg BT 351.49 370.42 Td (Applied Materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 370.42 Td (2016 - 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 347.42 Td (Managing Director) Tj ET Q q 0 0 0 rg BT 272.16 347.42 Td (, Manufacturing Operations - ) Tj ET Q q 0 0 0 rg BT 390.82 347.42 Td (Applied Materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 347.42 Td (2014 - 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 324.42 Td (Senior Director) Tj ET Q q 0 0 0 rg BT 257.72 324.42 Td (, Supply Chain - SunPower Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 324.42 Td (2014 - 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 301.42 Td (Senior Director) Tj ET Q q 0 0 0 rg BT 257.72 301.42 Td (, Manufacturing Operations - ) Tj ET Q q 0 0 0 rg BT 376.38 301.42 Td (Applied Materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 301.42 Td (2010 - 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 278.42 Td (Jonathan M. Grandon) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.00 278.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 287.32 Td (V) Tj ET Q q 0 0 0 rg BT 202.92 287.32 Td (ice President, Chief ) Tj ET Q q 0 0 0 rg BT 283.43 287.32 Td (Administrative Of) Tj ET Q q 0 0 0 rg BT 356.11 287.32 Td (ficer) Tj ET Q q 0 0 0 rg BT 374.13 287.32 Td (, General Counsel and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 277.32 Td (Secretary) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 278.42 Td (2016 - present) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 263.42 Td (V) Tj ET Q q 0 0 0 rg BT 202.92 263.42 Td (ice President, Integration - Zimmer Biomet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 263.42 Td (2015 - 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 248.42 Td (Senior ) Tj ET Q q 0 0 0 rg BT 224.52 248.42 Td (V) Tj ET Q q 0 0 0 rg BT 231.35 248.42 Td (ice President and General Counsel - Biomet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 248.42 Td (2014 - 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 231.42 Td (V) Tj ET Q q 0 0 0 rg BT 202.92 231.42 Td (ice President and Division General Counsel, ) Tj ET Q q 0 0 0 rg BT 382.03 231.42 Td (Associate General Counsel,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 221.42 Td (Corporate - Biomet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 221.42 Td (2013 - 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.00 206.42 Td (Partner - Ropes & Gray LLP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 206.42 Td (2008 - 2013) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (All executive of) Tj ET Q q 0 0 0 rg BT 114.24 178.25 Td (ficers are elected annually by the Board of Directors at the Board meeting held in conjunction with the annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (meeting of shareholders. ) Tj ET Q q 0 0 0 rg BT 153.03 166.25 Td (All executive of) Tj ET Q q 0 0 0 rg BT 217.27 166.25 Td (ficers hold of) Tj ET Q q 0 0 0 rg BT 270.40 166.25 Td (fice until their successors are duly elected or until their death, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (resignation, or removal by the Board.) 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 /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 287.85 728.53505859375 m 324.08046875 728.53505859375 l s q 0 0 0 rg BT 287.85 730.10 Td (P) Tj ET Q q 0 0 0 rg BT 293.22 730.10 Td (AR) Tj ET Q q 0 0 0 rg BT 307.31 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 313.80 730.10 Td ( II) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (ITEM 5. MARKET) Tj ET Q q 0 0 0 rg BT 133.99 706.10 Td ( FOR REGISTRANTS COMMON EQUITY) Tj ET Q q 0 0 0 rg BT 327.53 706.10 Td (, RELA) Tj ET Q q 0 0 0 rg BT 359.57 706.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 394.68 706.10 Td (OCKHOLDER MA) Tj ET Q q 0 0 0 rg BT 479.22 706.10 Td (TTERS, ) Tj ET Q q 0 0 0 rg BT 516.46 706.10 Td (AND ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (ISSUER PURCHASES OF) Tj ET Q q 0 0 0 rg BT 165.21 694.10 Td ( EQUITY) Tj ET Q q 0 0 0 rg BT 206.79 694.10 Td ( SECURITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (The number of shareholders of record as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.49 670.10 Td (February12, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.09 670.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.64 670.10 Td (705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.64 670.10 Td (. ) Tj ET Q q 0 0 0 rg BT 341.96 670.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 401.67 670.10 Td (s stock is traded on the NASDAQ ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Global Select Market under the symbol FELE.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Dividends paid per common share as quoted by the NASDAQ Global Select Market for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.81 634.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.81 634.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.25 634.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.25 634.10 Td ( were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 566.60 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 566.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 566.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 566.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 536.60 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 536.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 536.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 536.60 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 492.5 596.6 m 496.5 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 596.6 m 561.5 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 596.6 m 492.5 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 581.6 m 492.5 581.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 596.6 m 561.5 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 581.6 m 561.5 581.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.15 601.27 Td (Dividends per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 586.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 586.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 586.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 571.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 571.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 571.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 556.27 Td (1st Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 556.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 556.27 Td (.1075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 556.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 556.27 Td (.1000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 541.27 Td (2nd Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 541.27 Td (.1200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 541.27 Td (.1075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 526.27 Td (3rd Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 526.27 Td (.1200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 526.27 Td (.1075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 511.27 Td (4th Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 511.27 Td (.1200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 511.27 Td (.1075) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 483.10 Td (The Company has increased dividend payments on an annual basis for 26 consecutive periods. ) Tj ET Q q 0 0 0 rg BT 433.05 483.10 Td (The payment of dividends in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 471.10 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 50.00 451.10 Td (Issuer Purchases of Equity Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 439.10 Td (April 2007, the Company) Tj ET Q q 0 0 0 rg BT 165.27 439.10 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 50.00 427.10 Td (repurchase from 628,692 to 2,300,000 shares. ) Tj ET Q q 0 0 0 rg BT 235.33 427.10 Td (There is no expiration date for this plan. On ) Tj ET Q q 0 0 0 rg BT 415.01 427.10 Td (August 3, 2015, the Company) Tj ET Q q 0 0 0 rg BT 537.78 427.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 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 50.00 403.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 82.31 403.10 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 545.61 403.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.10 Td (Company repurchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.19 391.10 Td (51) Tj ET Q q 0 0 0 rg BT 151.82 391.10 Td (1,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.32 391.10 Td ( shares for approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.73 391.10 Td ($21.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.62 391.10 Td ( under this plan during the fourth quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.96 391.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.96 391.10 Td (. ) Tj ET Q q 0 0 0 rg BT 533.78 391.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.10 Td (maximum number of shares that may still be purchased under this plan as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.71 379.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.29 379.10 Td ( is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.96 379.10 Td (1,406,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.96 379.10 Td (. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 314.60 116.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.50 314.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 314.60 87.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 314.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 314.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 314.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 314.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 314.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 314.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 277.60 116.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.50 277.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 277.60 87.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 277.60 5.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 277.60 92.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 277.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 277.60 100.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 277.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 277.60 100.00 -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 49.5 314.6 m 165.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 314.6 m 256.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 314.6 m 353.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 314.6 m 457.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 314.6 m 561.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 314.6 m 256.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 314.6 m 353.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 314.6 m 457.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 314.6 m 561.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 255.60000000000002 m 256.5 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 255.60000000000002 m 353.5 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 255.60000000000002 m 457.5 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 255.60000000000002 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 169.5 241.60000000000002 m 256.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 239.60000000000002 m 256.5 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 241.60000000000002 m 457.5 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 239.60000000000002 m 457.5 239.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 319.27 Td (Period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.20 329.27 Td (T) Tj ET Q q 0 0 0 rg BT 184.96 329.27 Td (otal Number of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.05 319.27 Td (Shares Repurchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.75 329.27 Td (A) Tj ET Q q 0 0 0 rg BT 275.60 329.27 Td (verage Price Paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.95 319.27 Td (per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.70 347.17 Td (T) Tj ET Q q 0 0 0 rg BT 379.46 347.17 Td (otal Number of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.45 337.17 Td (Shares Purchased as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.60 327.17 Td (Part of Publicly) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.80 317.22 Td (Announced Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.10 339.27 Td (Maximum Number of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.55 329.27 Td (Shares that may yet to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.20 319.27 Td (be Repurchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 304.27 Td (October 1 - October 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 304.27 Td (70,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.00 304.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 304.27 Td (45.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 304.27 Td (70,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 304.27 Td (1,848,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 290.17 Td (November 1 - November) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 280.22 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.15 282.27 Td (92,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.00 282.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 282.27 Td (43.57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 282.27 Td (92,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 282.27 Td (1,755,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 268.17 Td (December 1 - December) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 258.22 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.15 260.27 Td (348,914) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.00 260.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 260.27 Td (41.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 260.27 Td (348,914) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 260.27 Td (1,406,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 245.27 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 245.27 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.15 245.27 Td (51) Tj ET Q q 0 0 0 rg BT 230.15 245.27 Td (1,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.00 245.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 245.27 Td (42.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 245.27 Td (51) Tj ET Q q 0 0 0 rg BT 431.15 245.27 Td (1,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 245.27 Td (1,406,748) 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 /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) Tj ET Q q 0 0 0 rg BT 231.90 730.25 Td (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 0 168.45 50.00 520.79 cm /I27 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.80 Td (Hypothetical $100 invested on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.98 496.80 Td (December28, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.56 496.80 Td ( \(fiscal year) Tj ET Q q 0 0 0 rg BT 300.55 496.80 Td (-end 2013\) in Fra) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 370.26 503.73 153.30 -9.09 re f /GS0 gs q 0 0 0 rg BT 370.26 496.80 Td (nklin Electric common stock \(FELE\), ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 50.00 491.73 404.69 -9.09 re f /GS0 gs q 0 0 0 rg BT 50.00 484.80 Td (Guggenheim S&P) Tj ET Q q 0 0 0 rg BT 122.69 484.80 Td ( Global ) Tj ET Q q 0 0 0 rg BT 154.72 484.80 Td (W) Tj ET Q q 0 0 0 rg BT 163.36 484.80 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 50.00 472.80 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 447.30 153.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 447.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 447.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 447.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 447.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 447.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 447.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 447.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 447.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 447.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 447.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 447.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 447.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 417.30 153.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 417.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 417.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 417.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 417.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 417.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 417.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 417.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 417.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 417.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 417.30 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 417.30 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 417.30 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 207.5 447.3 m 262.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 447.3 m 321.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 447.3 m 380.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 447.3 m 439.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 447.3 m 498.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 447.3 m 557.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 447.3 m 262.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 447.3 m 321.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 447.3 m 380.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 447.3 m 439.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 447.3 m 498.5 447.3 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 447.3 m 557.5 447.3 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.55 451.97 Td (YE 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 451.97 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 451.97 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.50 451.97 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 451.97 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.50 451.97 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 436.97 Td (FELE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 436.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 436.97 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 436.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 436.97 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 436.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 436.97 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 436.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.65 436.97 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.00 436.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 436.97 Td (103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 436.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 436.97 Td (96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 421.97 Td (Guggenheim S&P) Tj ET Q q 0 0 0 rg BT 125.87 421.97 Td ( Global ) Tj ET Q q 0 0 0 rg BT 157.81 421.97 Td (W) Tj ET Q q 0 0 0 rg BT 166.76 421.97 Td (ater) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 421.97 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 421.97 Td (103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 421.97 Td (102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 421.97 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 421.97 Td (151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 421.97 Td (136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 406.97 Td (Russell 2000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 406.97 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 406.97 Td (105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 406.97 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 406.97 Td (122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 406.97 Td (138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 406.97 Td (123) Tj ET Q BT /F1 10.00 Tf ET 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 /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 51.00 615.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 615.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 615.75 4.00 -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 51.00 585.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 585.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 585.75 4.00 -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 51.00 555.75 203.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 555.75 58.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 555.75 4.00 -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 51.00 517.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 517.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 517.75 4.00 -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 51.00 487.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 487.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 487.75 4.00 -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 51.00 457.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 457.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 457.75 4.00 -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 51.00 427.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 427.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 427.75 4.00 -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 51.00 397.75 203.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 397.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 397.75 4.00 -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 51.00 347.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 347.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 347.75 4.00 -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 51.00 317.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 317.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 317.75 4.00 -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 51.00 287.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 287.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 287.75 4.00 -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 51.00 257.75 203.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 257.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 257.75 4.00 -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 51.00 197.75 203.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 197.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 197.75 4.00 -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 254 645.75 m 312 645.75 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 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 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 272.50 650.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.50 650.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 650.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.50 650.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.50 650.42 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.95 635.42 Td (\(e\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 635.42 Td (\(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.95 635.42 Td (\(c\)) 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 256.50 605.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.10 605.42 Td (1,298,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 605.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.10 605.42 Td (1,124,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 605.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 605.42 Td (949,856) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 605.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 605.42 Td (924,923) 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 511.10 605.42 Td (1,044,777) 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 270.60 590.42 Td (432,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 590.42 Td (376,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 590.42 Td (331,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 590.42 Td (297,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 590.42 Td (344,410) 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 280.65 575.42 Td (9,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 575.42 Td (10,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 575.42 Td (8,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 575.42 Td (10,039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 575.42 Td (10,735) 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 275.65 560.42 Td (14,890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 560.42 Td (25,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 560.42 Td (24,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 560.42 Td (12,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 560.42 Td (18,851) 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 270.60 537.42 Td (105,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 537.42 Td (78,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 537.42 Td (78,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 537.42 Td (72,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 537.42 Td (69,806) 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 275.65 522.42 Td (38,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 522.42 Td (38,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 522.42 Td (35,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 522.42 Td (35,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 522.42 Td (37,210) 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 275.65 507.42 Td (23,417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 507.42 Td (33,379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 507.42 Td (37,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 507.42 Td (25,933) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 507.42 Td (42,396) 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 (W) Tj ET Q q 0 0 0 rg BT 68.54 477.42 Td (orking capital \(a\)\(b\)\(f\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.60 477.42 Td (324,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 477.42 Td (343,230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 477.42 Td (326,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 477.42 Td (293,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 477.42 Td (268,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 462.42 Td (Property) Tj ET Q q 0 0 0 rg BT 93.61 462.42 Td (, plant, and equipment, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.60 462.42 Td (207,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 462.42 Td (215,694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 462.42 Td (196,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 462.42 Td (190,039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 462.42 Td (209,786) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 447.42 Td (T) Tj ET Q q 0 0 0 rg BT 65.26 447.42 Td (otal assets \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.10 447.42 Td (1,182,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.10 447.42 Td (1,185,353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.10 447.42 Td (1,039,905) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 447.42 Td (996,1) Tj ET Q q 0 0 0 rg BT 479.10 447.42 Td (1) Tj ET Q q 0 0 0 rg BT 484.10 447.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.10 447.42 Td (1,075,797) 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 275.65 432.42 Td (94,379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 432.42 Td (125,596) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 432.42 Td (156,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 432.42 Td (187,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 432.42 Td (143,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 417.42 Td (Shareholders) Tj ET Q q 0 0 0 rg BT 114.67 417.42 Td ( equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.60 417.42 Td (733,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 417.42 Td (700,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 417.42 Td (613,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 417.42 Td (557,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 417.42 Td (596,840) 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 290.65 377.42 Td (8.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 377.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 377.42 Td (7.0) 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 (8.3) 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 (7.9) 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 (6.7) 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 290.65 352.42 Td (8.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 352.42 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 (7.7) 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 (7.0) 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 (6.6) 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 \(b\)\(g\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 337.42 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 337.42 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 337.42 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 337.42 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 337.42 Td (2.3) 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 275.65 322.42 Td (46,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 322.42 Td (46,630) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 322.42 Td (46,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 322.42 Td (46,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 322.42 Td (47,594) 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 256.50 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.65 277.42 Td (51.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 277.42 Td (47.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 277.42 Td (44.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 277.42 Td (39.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 277.42 Td (45.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.50 262.42 Td (Low) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.65 262.42 Td (39.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 262.42 Td (36.55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 262.42 Td (23.93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 262.42 Td (26.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 262.42 Td (33.93) 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 256.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.65 237.42 Td (2.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.65 237.42 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 237.42 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 237.42 Td (1.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 237.42 Td (1.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 222.42 Td (Net income attributable to Franklin Electric) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 212.42 Td (Co., Inc.,per weighted average common share,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 202.42 Td (assuming dilution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 202.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.65 202.42 Td (2.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 202.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.65 202.42 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 202.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 202.42 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 202.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 202.42 Td (1.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 202.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 202.42 Td (1.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 187.42 Td (Book value \(h\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.65 187.42 Td (15.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 187.42 Td (14.89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 187.42 Td (13.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 187.42 Td (1) Tj ET Q q 0 0 0 rg BT 471.65 187.42 Td (1.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 187.42 Td (12.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.50 172.42 Td (Dividends per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.65 172.42 Td (0.4675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 172.42 Td (0.4225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 172.42 Td (0.3975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 172.42 Td (0.3825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.65 172.42 Td (0.3475) 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 \(F) Tj ET Q q 0 0 0 rg BT 359.98 144.25 Td (ASB\) ) Tj ET Q q 0 0 0 rg BT 389.15 144.25 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 and 2014 were restated above to reflect the adoption of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 108.25 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 were not retrospectively adjusted for the adoption of ) Tj ET Q q 0 0 0 rg BT 399.63 96.25 Td (ASU 2015-17, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 460.47 96.25 Td (Income T) Tj ET Q q 0 0 0 rg BT 497.04 96.25 Td (axes \(T) Tj ET Q q 0 0 0 rg BT 525.28 96.25 Td (opic ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.00 84.25 Td (740\): Balance Sheet Classification of Deferr) Tj ET Q q 0 0 0 rg BT 246.21 84.25 Td (ed T) Tj ET Q q 0 0 0 rg BT 262.79 84.25 Td (axes,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.06 84.25 Td ( which related to the presentation of deferred taxes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.25 Td (\(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 72.25 Td (Includes the results of operations of the Company) Tj ET Q q 0 0 0 rg BT 269.90 72.25 Td (s 100% wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 402.02 72.25 Td (, Bombas Leao S.A., since its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 60.25 Td (acquisition in the second quarter of 2014, and 90% of the Company) Tj ET Q q 0 0 0 rg BT 341.27 60.25 Td (s owned subsidiary) Tj ET Q q 0 0 0 rg BT 417.28 60.25 Td (, Impo Motor Pompa Sanayi ve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 48.25 Td (T) Tj ET Q q 0 0 0 rg BT 73.76 48.25 Td (icaret ) Tj ET Q q 0 0 0 rg BT 97.91 48.25 Td (A.S., since the Company) Tj ET Q q 0 0 0 rg BT 200.12 48.25 Td (s acquisition of an additional 10% in the second quarter of 2014.) 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 /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (\(d\) ) 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) Tj ET Q q 0 0 0 rg BT 269.90 742.10 Td (s 100% wholly owned subsidiaries since its acquisition of three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 730.10 Td (groundwater distribution companies \(2M Company) Tj ET Q q 0 0 0 rg BT 272.87 730.10 Td (, Inc. \(2M\), Drillers Service, Inc. \(DSI\), and ) Tj ET Q q 0 0 0 rg BT 469.28 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 477.92 730.10 Td (estern Hydro, LLC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td (\(W) Tj ET Q q 0 0 0 rg BT 84.41 718.10 Td (estern Hydro\)\) in the second quarter of 2017, and 100% of the Company) Tj ET Q q 0 0 0 rg BT 381.82 718.10 Td (s owned subsidiary) Tj ET Q q 0 0 0 rg BT 457.83 718.10 Td (, Impo Motor Pompa ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 706.10 Td (Sanayi ve ) Tj ET Q q 0 0 0 rg BT 109.47 706.10 Td (T) Tj ET Q q 0 0 0 rg BT 115.23 706.10 Td (icaret ) Tj ET Q q 0 0 0 rg BT 139.38 706.10 Td (A.S., since the Company) Tj ET Q q 0 0 0 rg BT 241.59 706.10 Td (s acquisition of an additional 10% in the second quarter of 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (\(e\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.10 Td (Includes the results of operations of the Company) Tj ET Q q 0 0 0 rg BT 269.90 694.10 Td (s 100% wholly owned subsidiaries Industrias Rotor Pump S.A. and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.10 Td (V) Tj ET Q q 0 0 0 rg BT 74.11 682.10 Td (alley Farms Supply) Tj ET Q q 0 0 0 rg BT 151.24 682.10 Td (, Inc. acquired during the quarters ended September 30, 2018 and March 31, 2018, respectively) Tj ET Q q 0 0 0 rg BT 531.30 682.10 Td (. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 670.10 Td (addition, includes substantially all of the assets of the Stationary Power Division \(SPD\) of Midtronics, Inc. which were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 658.10 Td (acquired during the quarter ended September 30, 2018. ) 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 (W) Tj ET Q q 0 0 0 rg BT 76.64 646.10 Td (orking capital = Current assets minus current liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (\(g\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 634.10 Td (Current ratio = Current assets divided by current liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (\(h\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 622.10 Td (Book value = Shareholders) Tj ET Q q 0 0 0 rg BT 179.26 622.10 Td ( equity divided by weighted average common shares, assuming full dilution.) 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 /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 (2018) 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 (2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 105.83 706.25 Td ( ) Tj ET Q BT /F2 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 78.54 682.25 Td (VIEW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (Sales in 2018 increased by 15 percent from the prior year) Tj ET Q q 0 0 0 rg BT 278.81 658.25 Td (.) Tj ET Q q 0 0 0 rg BT 286.13 658.25 Td (The sales increase was led by acquisition related sales, as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (volume and price increases from all three segments. ) Tj ET Q q 0 0 0 rg BT 260.02 646.25 Td (The impact of foreign currency translation decreased sales by about 1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (percent. ) Tj ET Q q 0 0 0 rg BT 84.24 634.25 Td (The Company's consolidated gross profit was $432.4 million for 2018, an increase of $55.4 million or about 15 percent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (from 2017. ) Tj ET Q q 0 0 0 rg BT 96.76 622.25 Td (The gross profit as a percent of net sales decreased 20 basis points to 33.3 percent in 2018 from 33.5 percent in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (2017. ) Tj ET Q q 0 0 0 rg BT 74.82 610.25 Td (The decline in gross profit mar) Tj ET Q q 0 0 0 rg BT 198.21 610.25 Td (gin percentage is primarily due to product and geographic sales mix shifts. For 2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (diluted earnings per share were $2.23, up from 2017 diluted earnings per share of $1.65. In 2017, the Company recorded a net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (tax expense of $10.2 million, or $0.21 in diluted earnings per share related to the enactment of the U.S. ) Tj ET Q q 0 0 0 rg BT 464.71 586.25 Td (T) Tj ET Q q 0 0 0 rg BT 470.12 586.25 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 539.57 586.25 Td (Act ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (of 2017. For 2018, diluted earnings per share were $2.23, up from 2017 diluted earnings per share of $1.86, before the impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (of the U.S. ) Tj ET Q q 0 0 0 rg BT 95.65 562.25 Td (T) Tj ET Q q 0 0 0 rg BT 101.06 562.25 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 170.51 562.25 Td (Act of 2017 or an increase of about 20 percent.) Tj ET Q BT /F2 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 82.43 538.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 110.67 538.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 147.43 538.25 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 2018 were $1,298.1 million, an increase of $173.2 million or about 15 percent compared to 2017 sales of $1,124.9 ) 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 $99.2 million or about 9 percent.Sales revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (decreased by $13.1 million or about 1 percent in 2018 due to foreign currency translation. ) Tj ET Q q 0 0 0 rg BT 411.66 478.25 Td (The sales change in 2018, excluding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.85 Td (acquisitions and foreign currency translation, was an increase of) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 306.85 463.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.85 463.85 Td ($87.1 million or about 8 percent.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 411.35 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 411.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 411.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 411.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 411.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 411.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 381.35 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 381.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 381.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 381.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 381.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 381.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 351.35 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 351.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 351.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 351.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 351.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 351.35 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 356.5 441.35 m 421.5 441.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 426.35 m 421.5 426.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 441.35 m 425.5 441.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 426.35 m 425.5 426.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 441.35 m 490.5 441.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 426.35 m 490.5 426.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 441.35 m 494.5 441.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 426.35 m 494.5 426.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 441.35 m 559.5 441.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 426.35 m 559.5 426.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 426.35 m 421.5 426.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 411.35 m 421.5 411.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 426.35 m 490.5 426.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 411.35 m 490.5 411.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 411.35 m 559.5 411.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 411.35 m 421.5 411.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 411.35 m 490.5 411.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 351.35 m 421.5 351.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 337.35 m 421.5 337.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 335.35 m 421.5 335.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 351.35 m 490.5 351.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 337.35 m 490.5 337.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 335.35 m 490.5 335.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 351.35 m 559.5 351.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 337.35 m 559.5 337.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 335.35 m 559.5 335.35 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.45 431.02 Td (Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 416.02 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.50 416.02 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.50 416.02 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 416.02 Td (2018 v 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 401.02 Td (W) Tj ET Q q 0 0 0 rg BT 63.04 401.02 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 401.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 401.02 Td (796.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.00 401.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 401.02 Td (743.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 401.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 401.02 Td (53.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 386.02 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 386.02 Td (288.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 386.02 Td (245.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 386.02 Td (42.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 371.02 Td (Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 371.02 Td (269.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 371.02 Td (176.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 371.02 Td (92.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 356.02 Td (Eliminations/Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.80 356.07 Td (\(56.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 356.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 356.07 Td (\(40.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 356.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 356.07 Td (\(15.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.65 356.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 341.02 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 341.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 341.02 Td (1,298.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.00 341.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 341.02 Td (1,124.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 341.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 341.02 Td (173.2) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 312.85 Td (Net Sales-W) Tj ET Q q 0 0 0 rg BT 100.09 312.85 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.85 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 300.85 Td (ater Systems sales were $796.5 million in 2018, an increase of $53.2 million or about 7 percent versus 2017. ) Tj ET Q q 0 0 0 rg BT 494.76 300.85 Td (The incremental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.85 Td (impact of sales from acquired businesses was $8.3 million or about 1 percent. Foreign currency translation changes decreased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.85 Td (sales $15.4 million, or about 2 percent, compared to sales in 2017. ) Tj ET Q q 0 0 0 rg BT 317.54 276.85 Td (The ) Tj ET Q q 0 0 0 rg BT 335.41 276.85 Td (W) Tj ET Q q 0 0 0 rg BT 344.04 276.85 Td (ater Systems or) Tj ET Q q 0 0 0 rg BT 405.52 276.85 Td (ganic sales change in 2018 was an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.85 Td (increase of $60.3 million or about 8 percent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.85 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 240.85 Td (ater Systems sales in the U.S. and Canada increased by about 17 percent compared to 2017. Sales revenue increased by $0.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.85 Td (million or less than 1 percent in 2018 due to foreign currency translation. In 2018, sales of Pioneer branded dewatering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.85 Td (equipment increased by about 90 percent when compared to the prior year due to strength in North ) Tj ET Q q 0 0 0 rg BT 446.82 216.85 Td (American oil and gas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.85 Td (markets and continued diversification of product sales channels and geographies. Sales of groundwater pumping equipment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.85 Td (increased by about 8 percent on stronger residential and agricultural system sales primarily to the Headwater Companies, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.85 Td (versus 2017. Sales of other surface pumping equipment increased by about 5 percent in part due to wet weather conditions in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.85 Td (the upper Midwest and Canada.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 149.35 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 149.35 Td (ater Systems sales in markets outside the U.S. and Canada decreased by about 2 percent compared to 2017. Sales revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 137.35 Td (decreased by $15.9 million or about 4 percent in 2018 due to foreign currency translation. ) Tj ET Q q 0 0 0 rg BT 411.66 137.35 Td (The incremental impact of sales from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 125.35 Td (acquired businesses was $8.3 million or about 2 percent. International ) Tj ET Q q 0 0 0 rg BT 331.97 125.35 Td (W) Tj ET Q q 0 0 0 rg BT 340.61 125.35 Td (ater Systems local currency sales improved in Europe, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 113.35 Td (the Middle East and ) Tj ET Q q 0 0 0 rg BT 132.21 113.35 Td (Africa, but declined in ) Tj ET Q q 0 0 0 rg BT 224.12 113.35 Td (Asia Pacific and Brazil in 2018 compared to last year) Tj ET Q q 0 0 0 rg BT 437.11 113.35 Td (. Combined, sales in Latin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 101.35 Td (America and ) Tj ET Q q 0 0 0 rg BT 103.31 101.35 Td (Asia Pacific declined by about 6 percent. In Latin ) Tj ET Q q 0 0 0 rg BT 303.80 101.35 Td (America, the sales decline was primarily in Brazil. ) Tj ET Q q 0 0 0 rg BT 508.54 101.35 Td (The sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.35 Td (decline in Brazil was due to an overall slowdown of the economic environment. In ) Tj ET Q q 0 0 0 rg BT 382.41 89.35 Td (Asia Pacific, the Company) Tj ET Q q 0 0 0 rg BT 492.38 89.35 Td (s sales in Korea ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.35 Td (declined due to an overall slowdown of the economic environment, and in ) Tj ET Q q 0 0 0 rg BT 348.90 77.35 Td (Thailand, sales were adversely impacted by declines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.35 Td (in government funding for water related projects and by weather) Tj ET Q q 0 0 0 rg BT 307.41 65.35 Td (.) 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 /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Net Sales-Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Fueling Systems sales were $288.2 million in 2018, an increase of $42.5 million or about 17 percent from 2017. ) Tj ET Q q 0 0 0 rg BT 500.58 718.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (incremental impact of sales from acquired businesses was $3.5 million or about 1 percent. Foreign currency translation changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (increased sales $2.3 million or about 1 percent compared to sales in 2017. ) Tj ET Q q 0 0 0 rg BT 347.79 694.10 Td (The Fueling Systems or) Tj ET Q q 0 0 0 rg BT 442.89 694.10 Td (ganic sales change in 2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (was an increase of $36.7 million or about 15 percent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Fueling Systems sales in the U.S. and Canada grew by about 10 percent during 2018 with most of the sales growth coming ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (from fuel management systems and piping. Internationally) Tj ET Q q 0 0 0 rg BT 283.46 646.10 Td (, Fueling Systems revenues grew by about 27 percent led by stronger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (sales in China, partially of) Tj ET Q q 0 0 0 rg BT 155.07 634.10 Td (fset by lower sales in India. China sales were about $52 million in 2018 compared to 2017 Fueling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Systems China sales of about $25 million due primarily to China) Tj ET Q q 0 0 0 rg BT 312.20 622.10 Td (s under) Tj ET Q q 0 0 0 rg BT 341.18 622.10 Td (ground piping upgrade.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Net Sales-Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Distribution sales were $269.6 million in 2018, versus 2017 sales of $176.7 million. ) Tj ET Q q 0 0 0 rg BT 388.40 586.10 Td (The incremental impact of sales from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (acquired businesses was $87.4 million. Distribution segment or) Tj ET Q q 0 0 0 rg BT 303.40 574.10 Td (ganic sales increased about 3 percent compared to 2017.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Cost of Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Cost of sales as a percent of net sales for 2018 and 2017 was 66.7 percent and 66.5 percent, respectively) Tj ET Q q 0 0 0 rg BT 465.88 538.10 Td (. Correspondingly) Tj ET Q q 0 0 0 rg BT 537.45 538.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (gross profit mar) Tj ET Q q 0 0 0 rg BT 113.70 526.10 Td (gin was 33.3 percent and 33.5 percent for both years. ) Tj ET Q q 0 0 0 rg BT 328.17 526.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 387.88 526.10 Td (s consolidated gross profit was $432.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (million for 2018, up $55.4 million from the gross profit of $377.0 million in 2017. ) Tj ET Q q 0 0 0 rg BT 381.75 514.10 Td (The gross profit increase was primarily due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (to higher sales. ) Tj ET Q q 0 0 0 rg BT 112.58 502.10 Td (The decline in gross profit mar) Tj ET Q q 0 0 0 rg BT 235.98 502.10 Td (gin percentage is partially attributable to product and geographic sales mix shifts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Selling, General and ) Tj ET Q q 0 0 0 rg BT 137.42 478.10 Td (Administrative \(SG&A\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Selling, general, and administrative expenses were $298.7 million in 2018 and increased by $33.3 million or about 13 percent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (in 2018 compared to $265.4 million last year) Tj ET Q q 0 0 0 rg BT 229.41 454.10 Td (. ) Tj ET Q q 0 0 0 rg BT 234.23 454.10 Td (The increase in SG&A) Tj ET Q q 0 0 0 rg BT 325.04 454.10 Td ( expenses from acquired businesses were $27.2 million. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.70 Td (Excluding the acquired entities, the Company) Tj ET Q q 0 0 0 rg BT 235.51 439.70 Td (s) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 239.40 439.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.40 439.70 Td (SG&A) Tj ET Q q 0 0 0 rg BT 269.63 439.70 Td ( expenses in 2018 were $271.5 and increased by $6.1 million or about 2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.70 Td (percent in 2018 compared to last year) Tj ET Q q 0 0 0 rg BT 199.95 427.70 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 403.70 Td (Restructuring Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.70 Td (Restructuring expenses for 2018 were $1.7 million. Restructuring expenses were $0.6 million in the ) Tj ET Q q 0 0 0 rg BT 451.68 391.70 Td (W) Tj ET Q q 0 0 0 rg BT 460.32 391.70 Td (ater Systems segment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.70 Td ($0.3 million in the Fueling Systems segment and $0.8 million in the Distribution segment. Restructuring expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.70 Td (primarily from continued miscellaneous manufacturing realignment activities and distribution branch closings and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.70 Td (consolidations. Restructuring expenses for 2017 were $4.3 million. Restructuring expenses were $2.7 million in the ) Tj ET Q q 0 0 0 rg BT 514.45 355.70 Td (W) Tj ET Q q 0 0 0 rg BT 523.09 355.70 Td (ater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.70 Td (segment primarily related to the continuing Brazilian manufacturing realignments. Restructuring expenses were primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.70 Td (severance expenses and other miscellaneous manufacturing realignment activities. ) Tj ET Q q 0 0 0 rg BT 381.64 331.70 Td (The Fueling Systems segment restructuring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.70 Td (expenses in 2017 were $1.6 million. ) Tj ET Q q 0 0 0 rg BT 197.02 319.70 Td (The Company wrote of) Tj ET Q q 0 0 0 rg BT 289.87 319.70 Td (f its ownership share in a Fueling Systems joint venture in India.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 295.70 Td (Operating Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.70 Td (Operating income was $132.0 million in 2018, up $24.8 million or 23 percent from $107.2 million in 2017.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 231.20 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 231.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 231.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 231.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 231.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 231.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 231.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 201.20 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 201.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 201.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 201.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 201.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 201.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 201.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 171.20 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 171.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 171.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 171.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 171.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 171.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 171.20 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 358.5 261.20000000000005 m 423.5 261.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 246.20000000000005 m 423.5 246.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 261.20000000000005 m 427.5 261.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 246.20000000000005 m 427.5 246.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 261.20000000000005 m 492.5 261.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 246.20000000000005 m 492.5 246.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 261.20000000000005 m 496.5 261.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 246.20000000000005 m 496.5 246.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 261.20000000000005 m 561.5 261.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 246.20000000000005 m 561.5 246.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 246.20000000000005 m 423.5 246.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 231.20000000000005 m 423.5 231.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 246.20000000000005 m 492.5 246.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 231.20000000000005 m 492.5 231.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 231.20000000000005 m 561.5 231.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 231.20000000000005 m 423.5 231.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 231.20000000000005 m 492.5 231.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 171.20000000000005 m 423.5 171.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 171.20000000000005 m 492.5 171.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 171.20000000000005 m 561.5 171.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 171.20000000000005 m 423.5 171.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 157.20000000000005 m 423.5 157.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 155.20000000000005 m 423.5 155.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 171.20000000000005 m 492.5 171.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 157.20000000000005 m 492.5 157.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 155.20000000000005 m 492.5 155.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 157.20000000000005 m 561.5 157.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 155.20000000000005 m 561.5 155.20000000000005 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 250.87 Td (Operating income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 235.87 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 235.87 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 235.87 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.50 235.87 Td (2018 v 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 220.87 Td (W) Tj ET Q q 0 0 0 rg BT 61.04 220.87 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 220.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 220.87 Td (1) Tj ET Q q 0 0 0 rg BT 402.15 220.87 Td (12.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 220.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 220.87 Td (102.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 220.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 220.87 Td (10.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 205.87 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 205.87 Td (70.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 205.87 Td (60.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 205.87 Td (10.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 190.87 Td (Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 190.87 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 190.87 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 190.92 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 190.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 175.87 Td (Eliminations/Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 175.92 Td (\(54.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 175.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 175.92 Td (\(58.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 175.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 175.87 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 160.87 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 160.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 160.87 Td (132.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 160.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 160.87 Td (107.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 160.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 160.87 Td (24.8) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 132.70 Td (Operating Income-W) Tj ET Q q 0 0 0 rg BT 136.76 132.70 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.70 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 120.70 Td (ater Systems operating income was $1) Tj ET Q q 0 0 0 rg BT 211.84 120.70 Td (12.9 million in 2018 compared to $102.0 million in 2017, an increase of 1) Tj ET Q q 0 0 0 rg BT 507.53 120.70 Td (1 percent. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.70 Td (Operating income mar) Tj ET Q q 0 0 0 rg BT 139.79 108.70 Td (gin for 2018 was 14.2 percent compared to 2017 operating income mar) Tj ET Q q 0 0 0 rg BT 423.96 108.70 Td (gin of 13.7%. Operating income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.70 Td (mar) Tj ET Q q 0 0 0 rg BT 65.37 96.70 Td (gin increased in ) Tj ET Q q 0 0 0 rg BT 131.00 96.70 Td (W) Tj ET Q q 0 0 0 rg BT 139.63 96.70 Td (ater Systems primarily from leverage on fixed cost from higher sales volume and price.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 72.70 Td (Operating Income-Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.70 Td (Fueling Systems operating income was $70.4 million in 2018 compared to $60.0 million in 2017. ) Tj ET Q q 0 0 0 rg BT 442.01 60.70 Td (The operating income mar) Tj ET Q q 0 0 0 rg BT 547.62 60.70 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.70 Td (was 24.4 percent of net sales in both years. ) Tj ET Q q 0 0 0 rg BT 226.44 48.70 Td (The increase in operating income was primarily due to higher sales. ) 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 BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Operating Income-Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Distribution operating income was $3.4 million in 2018 and operating income mar) Tj ET Q q 0 0 0 rg BT 379.76 706.10 Td (gin was 1.3 percent. Distribution operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (income was $3.7 million in 2017 and operating income mar) Tj ET Q q 0 0 0 rg BT 288.66 694.10 Td (gin was 2.1 percent. ) Tj ET Q q 0 0 0 rg BT 371.23 694.10 Td (The Distribution segment) Tj ET Q q 0 0 0 rg BT 476.22 694.10 Td (s operations are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (seasonal and product sales are significantly slower during the fourth and first quarters, i.e., the winter months in North ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (America. ) Tj ET Q q 0 0 0 rg BT 89.24 670.10 Td (The 2017 results did not include the first quarter seasonality impact as the acquisitions of the Distribution entities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (occurred after the first quarter of 2017.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Operating Income-Eliminations/Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Operating income-Eliminations/Other is composed primarily of inter) Tj ET Q q 0 0 0 rg BT 325.29 622.10 Td (-segment sales and profit eliminations and unallocated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (general and administrative expenses.) Tj ET Q q 0 0 0 rg BT 201.99 610.10 Td (The inter) Tj ET Q q 0 0 0 rg BT 238.16 610.10 Td (-segment profit elimination impact in 2018 was a $0.6 million gain or $6.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (million improvement to the prior year as the Distribution segment decreased inventory of ) Tj ET Q q 0 0 0 rg BT 409.45 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 418.09 598.10 Td (ater Systems products on hand. ) Tj ET Q q 0 0 0 rg BT 545.11 598.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (intersegment elimination of operating income ef) Tj ET Q q 0 0 0 rg BT 242.81 586.10 Td (fectively defers the operating income on sales from ) Tj ET Q q 0 0 0 rg BT 450.33 586.10 Td (W) Tj ET Q q 0 0 0 rg BT 458.97 586.10 Td (ater Systems to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Distribution in the consolidated financial results until such time as the transferred product is sold from the Distribution segment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (to its end third party customer) Tj ET Q q 0 0 0 rg BT 169.70 562.10 Td (. General and administrative expenses were higher by $2.3 million or about 4 percent to last year) Tj ET Q q 0 0 0 rg BT 556.25 562.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Interest Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Interest expense for 2018 and 2017 was $9.8 million and $10.3 million, respectively) Tj ET Q q 0 0 0 rg BT 386.23 526.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Other Income or Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (Other income or expense was a loss of $1.0 million in 2018. Included in other income in 2018 was interest income of $0.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.70 Td (million, primarily derived from the investment of cash balances in short-term securities.) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 401.85 475.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.85 475.70 Td (Also included in other expense in 2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.70 Td (was a loss of $0.3 million related to a tax indemnification write-of) Tj ET Q q 0 0 0 rg BT 314.75 463.70 Td (f. Other expense also included $0.4 million related to non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.70 Td (operational pension cost.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.70 Td (Other income or expense was income of $6.7 million in 2017. Included in other income in 2017 was a gain of $5.2 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.70 Td (related to the acquisition of controlling interests in three Distribution entities previously held as equity investments. ) Tj ET Q q 0 0 0 rg BT 514.08 415.70 Td (Also, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.70 Td (included in other income in 2017 was minority income of $0.6 million and interest income of $0.9 million, primarily derived ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.70 Td (from the investment of cash balances in short-term securities. Other expense also included $0.2 million related to non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.70 Td (operational pension cost.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 355.70 Td (Foreign Exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.70 Td (Foreign currency-based transactions for 2018 was a loss of $0.7 million due to movements in several currencies relative to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.70 Td (U.S. dollar) Tj ET Q q 0 0 0 rg BT 93.21 331.70 Td (, with the ) Tj ET Q q 0 0 0 rg BT 133.02 331.70 Td (T) Tj ET Q q 0 0 0 rg BT 138.78 331.70 Td (urkish Lira, South ) Tj ET Q q 0 0 0 rg BT 213.22 331.70 Td (African Rand, ) Tj ET Q q 0 0 0 rg BT 271.82 331.70 Td (Ar) Tj ET Q q 0 0 0 rg BT 282.19 331.70 Td (gentinian Peso and Mexican Peso being the most significant. Foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.70 Td (currency-based transactions for 2017 was a gain of $1.0 million, due to movements in several currencies relative to the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.70 Td (dollar) Tj ET Q q 0 0 0 rg BT 72.92 307.70 Td (, with the ) Tj ET Q q 0 0 0 rg BT 112.74 307.70 Td (T) Tj ET Q q 0 0 0 rg BT 118.50 307.70 Td (urkish Lira being the most significant.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 283.70 Td (Income T) Tj ET Q q 0 0 0 rg BT 88.80 283.70 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.70 Td (The provision for income taxes in 2018 and 2017 was $14.9 million and $26.0 million, respectively) Tj ET Q q 0 0 0 rg BT 447.62 271.70 Td (. ) Tj ET Q q 0 0 0 rg BT 452.44 271.70 Td (The ef) Tj ET Q q 0 0 0 rg BT 478.07 271.70 Td (fective tax rate for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.70 Td (2017 was about 25 percent both before and after the impact of discrete events. ) Tj ET Q q 0 0 0 rg BT 364.98 259.70 Td (The ef) Tj ET Q q 0 0 0 rg BT 390.62 259.70 Td (fective tax rate for 2018 was about 12 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.70 Td (percent and before the impact of discrete events was about 19 percent. ) Tj ET Q q 0 0 0 rg BT 333.31 247.70 Td (The decrease in the ef) Tj ET Q q 0 0 0 rg BT 420.85 247.70 Td (fective tax rate was primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.70 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 235.70 Td (fected by the U.S. ) Tj ET Q q 0 0 0 rg BT 131.83 235.70 Td (T) Tj ET Q q 0 0 0 rg BT 137.24 235.70 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 206.69 235.70 Td (Act of 2017 \(T) Tj ET Q q 0 0 0 rg BT 265.70 235.70 Td (ax ) Tj ET Q q 0 0 0 rg BT 277.08 235.70 Td (Act\), which reduced the U.S. federal corporate income tax rate from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.70 Td (35 percent to 21 percent ef) Tj ET Q q 0 0 0 rg BT 156.71 223.70 Td (fective January 1, 2018. ) Tj ET Q q 0 0 0 rg BT 254.83 223.70 Td (The tax rate was lower than the statutory rate of 21 percent primarily due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.70 Td (foreign earnings taxed at lower statutory rates, as well as recognition of the deduction for Foreign Derived Intangible Income, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.70 Td (and certain discrete events. Discrete events in 2018 include a net benefit related to the release of valuation allowances on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.70 Td (deferred taxes in multiple jurisdictions. Discrete events in 2017 included the net impact of the ) Tj ET Q q 0 0 0 rg BT 429.99 187.70 Td (T) Tj ET Q q 0 0 0 rg BT 435.40 187.70 Td (ax ) Tj ET Q q 0 0 0 rg BT 446.79 187.70 Td (Act of) Tj ET Q q 0 0 0 rg BT 471.88 187.70 Td (fset by the benefit of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.70 Td (realized foreign currency translation loss and of a non-taxable gain recorded on the previously held equity investments. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.70 Td (2019, the Company estimates its ef) Tj ET Q q 0 0 0 rg BT 190.35 163.70 Td (fective tax rate will be about 18 to 20 percent.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 139.70 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.70 Td (Net income for 2018 was $105.5 million compared to 2017 net income of $78.6 million.Net income attributable to Franklin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.70 Td (Electric Co., Inc. for 2018 was $105.9 million, or $2.23 per diluted share, compared to 2017 net income attributable to Franklin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.70 Td (Electric Co., Inc. of $78.2 million or $1.65 per diluted share.) 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 /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (2017) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 70.00 742.25 Td ( vs. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.83 742.25 Td (2016) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 105.83 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (OVER) Tj ET Q q 0 0 0 rg BT 78.54 718.25 Td (VIEW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Sales in 2017 were up from the prior year) Tj ET Q q 0 0 0 rg BT 216.06 694.25 Td (.Net sales in 2017 were $1,124.9 million, an increase of $175.0 million or about 18 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (percent compared to 2016 sales of $949.9 million.) Tj ET Q q 0 0 0 rg BT 253.11 682.25 Td (The sales increase was primarily related to acquisitions. In 2017, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Company acquired a controlling interest in several distribution companies. ) Tj ET Q q 0 0 0 rg BT 350.85 670.25 Td (The distribution companies are reported collectively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (as a new segment. ) Tj ET Q q 0 0 0 rg BT 125.07 658.25 Td (The Company's consolidated gross profit was $377.0 million for 2017, an increase of $45.6 million or about ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (14 percent from 2016. ) Tj ET Q q 0 0 0 rg BT 141.18 646.25 Td (The gross profit as a percent of net sales decreased 140 basis points to 33.5 percent in 2017 from 34.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (percent in 2016. ) Tj ET Q q 0 0 0 rg BT 117.02 634.25 Td (The decline in gross profit mar) Tj ET Q q 0 0 0 rg BT 240.42 634.25 Td (gin percentage is primarily due to product and geographic sales mix shifts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (higher raw material costs. For 2017, diluted earnings per share were $1.65, flat to 2016 diluted earnings per share of $1.65. ) Tj ET Q q 0 0 0 rg BT 544.40 622.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (Company recorded a net tax expense of $10.2 million, or $0.21 in diluted earnings per share related to the enactment of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 70.10 598.25 Td (T) Tj ET Q q 0 0 0 rg BT 75.51 598.25 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 144.96 598.25 Td (Act of 2017. Before the impact of the U.S. ) Tj ET Q q 0 0 0 rg BT 317.51 598.25 Td (T) Tj ET Q q 0 0 0 rg BT 322.92 598.25 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 392.37 598.25 Td (Act of 2017, diluted earnings per share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (for 2017 were $1.86 compared to the 2016 diluted earnings per share of $1.65 or an increase of about 13 percent.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (RESUL) Tj ET Q q 0 0 0 rg BT 82.43 562.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 110.67 562.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 147.43 562.25 Td (TIONS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (Net sales in 2017 were $1,124.9 million, an increase of $175.0 million or about 18 percent compared to sales in 2016 of $949.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (million. ) Tj ET Q q 0 0 0 rg BT 86.21 514.25 Td (The sales increase was primarily from acquisition related sales.Sales revenue increased by $2.7 million or less than 1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (percent in 2017 due to foreign currency translation. ) Tj ET Q q 0 0 0 rg BT 257.80 502.25 Td (The sales change in 2017, excluding acquisitions and foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.85 Td (translation, was a decrease of) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 167.45 487.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.45 487.85 Td ($4.4 million or less than 1 percent.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 435.35 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 435.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 435.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 435.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 435.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 435.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 435.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 405.35 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 405.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 405.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 405.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 405.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 405.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 405.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 375.35 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 375.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 375.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 375.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 375.35 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 375.35 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 375.35 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 358.5 465.35 m 423.5 465.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 450.35 m 423.5 450.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 465.35 m 427.5 465.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 450.35 m 427.5 450.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 465.35 m 492.5 465.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 450.35 m 492.5 450.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 465.35 m 496.5 465.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 450.35 m 496.5 450.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 465.35 m 561.5 465.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 450.35 m 561.5 450.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 450.35 m 423.5 450.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 435.35 m 423.5 435.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 450.35 m 492.5 450.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 435.35 m 492.5 435.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 435.35 m 561.5 435.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 435.35 m 423.5 435.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 435.35 m 492.5 435.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 375.35 m 423.5 375.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 361.35 m 423.5 361.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 359.35 m 423.5 359.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 375.35 m 492.5 375.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 361.35 m 492.5 361.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 359.35 m 492.5 359.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 375.35 m 561.5 375.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 361.35 m 561.5 361.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 359.35 m 561.5 359.35 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.45 455.02 Td (Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 440.02 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 440.02 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 440.02 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.50 440.02 Td (2017 v 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 425.02 Td (W) Tj ET Q q 0 0 0 rg BT 61.04 425.02 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 425.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 425.02 Td (743.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 425.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 425.02 Td (723.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 425.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 425.02 Td (20.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 410.02 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 410.02 Td (245.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 410.02 Td (226.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 410.02 Td (19.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 395.02 Td (Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 395.02 Td (176.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 395.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 395.02 Td (176.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 380.02 Td (Eliminations/Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 380.07 Td (\(40.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 380.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 380.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 380.07 Td (\(40.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 380.02 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 365.02 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 365.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 365.02 Td (1,124.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 365.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 365.02 Td (949.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 365.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 365.02 Td (175.0) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 336.85 Td (Net Sales-W) Tj ET Q q 0 0 0 rg BT 100.09 336.85 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.85 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 324.85 Td (ater Systems sales were $743.3 million in 2017 and increased by $20.1 million or about 3 percent versus 2016. Foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.85 Td (currency translation rate changes increased sales $2.0 million compared to sales in 2016. ) Tj ET Q q 0 0 0 rg BT 407.20 312.85 Td (The ) Tj ET Q q 0 0 0 rg BT 425.07 312.85 Td (W) Tj ET Q q 0 0 0 rg BT 433.71 312.85 Td (ater Systems sales change in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.85 Td (2017, excluding foreign currency translation, was an increase of $18.1 million or about 3 percent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.85 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 276.85 Td (ater Systems sales in the U.S. and Canada were up about 3 percent compared to 2016. ) Tj ET Q q 0 0 0 rg BT 404.19 276.85 Td (The impact of foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.85 Td (translation was not significant. Sales of Pioneer branded dewatering equipment increased by about 50 percent in 2017 when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.85 Td (compared to the prior year resulting from the continued diversification of customers and strengthening in U.S. oil and gas end ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.85 Td (markets. Sales of other surface pumping equipment increased by 2 percent primarily in wastewater related products. Sales of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.85 Td (groundwater pumping equipment were down by about 2 percent overall with flat residential water systems of) Tj ET Q q 0 0 0 rg BT 486.64 228.85 Td (fset with declines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.85 Td (in agricultural systems.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.85 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 192.85 Td (ater Systems sales in markets outside the U.S. and Canada overall increased by about 4 percent. ) Tj ET Q q 0 0 0 rg BT 443.62 192.85 Td (The impact of foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.85 Td (currency translation was not significant. International ) Tj ET Q q 0 0 0 rg BT 266.14 180.85 Td (W) Tj ET Q q 0 0 0 rg BT 274.78 180.85 Td (ater Systems sales were led by improved sales in Europe, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.85 Td (higher sales of Pioneer branded equipment, and the Middle East and ) Tj ET Q q 0 0 0 rg BT 324.93 168.85 Td (Africa, but were of) Tj ET Q q 0 0 0 rg BT 400.82 168.85 Td (fset by lower sales, in local currency) Tj ET Q q 0 0 0 rg BT 546.50 168.85 Td (, in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.85 Td (the Latin ) Tj ET Q q 0 0 0 rg BT 87.77 156.85 Td (American markets compared to last year) Tj ET Q q 0 0 0 rg BT 249.09 156.85 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 132.85 Td (Net Sales-Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.85 Td (Fueling Systems sales were $245.7 million in 2017 and increased $19.0 million or about 8 percent from 2016. Foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.85 Td (translation rate changes increased sales $0.7 million or less than 1 percent compared to sales in 2016. ) Tj ET Q q 0 0 0 rg BT 457.20 108.85 Td (The Fueling Systems ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.85 Td (sales change in 2017, excluding foreign currency translation, was an increase of $18.3 million or about 8 percent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.85 Td (Fueling Systems sales in the U.S. and Canada grew by about 4 percent during 2017 with sales growth coming from all product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.85 Td (lines. Outside the U.S. and Canada, Fueling Systems revenues were up by about 14 percent overall with increased sales in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.85 Td (China and Europe partially of) Tj ET Q q 0 0 0 rg BT 168.67 48.85 Td (fset by lower sales in India.) Tj ET Q 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 BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Net Sales-Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Distribution sales were $176.7 million in 2017 and were all acquisition related. Management estimates Distribution sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (declined by about 6 percent from 2016 primarily driven by supply chain disruptions and weak end market conditions in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Southeast region of the United States.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Cost of Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Cost of sales as a percent of net sales for 2017 and 2016 was 66.5 percent and 65.1 percent, respectively) Tj ET Q q 0 0 0 rg BT 465.88 658.10 Td (. Correspondingly) Tj ET Q q 0 0 0 rg BT 537.45 658.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (gross profit mar) Tj ET Q q 0 0 0 rg BT 113.70 646.10 Td (gin was 33.5 percent and 34.9 percent for both years. ) Tj ET Q q 0 0 0 rg BT 328.17 646.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 387.88 646.10 Td (s consolidated gross profit was $377.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (million for 2017, up $45.6 million from the gross profit of $331.4 million in 2016. ) Tj ET Q q 0 0 0 rg BT 381.75 634.10 Td (The gross profit increase was primarily due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (to higher sales. ) Tj ET Q q 0 0 0 rg BT 112.58 622.10 Td (The decline in gross profit mar) Tj ET Q q 0 0 0 rg BT 235.98 622.10 Td (gin percentage is partially attributable to the inclusion of the Distribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (segment which impacted the mar) Tj ET Q q 0 0 0 rg BT 182.00 610.10 Td (gin by about 20 basis points and the balance is due to product and geographic sales mix shifts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (and higher raw material costs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Selling, General and ) Tj ET Q q 0 0 0 rg BT 137.42 574.10 Td (Administrative \(SG&A\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Selling, general, and administrative expenses were $265.7 million in 2017 and increased by $44.5 million or 20 percent in 2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (compared to $221.2 million last year) Tj ET Q q 0 0 0 rg BT 196.64 550.10 Td (. ) Tj ET Q q 0 0 0 rg BT 201.46 550.10 Td (The increase in SG&A) Tj ET Q q 0 0 0 rg BT 292.27 550.10 Td ( expenses from acquired businesses were $45.1 million. Excluding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.70 Td (the acquired entities, the Company) Tj ET Q q 0 0 0 rg BT 191.90 535.70 Td (s) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 195.80 535.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.80 535.70 Td (SG&A) Tj ET Q q 0 0 0 rg BT 226.03 535.70 Td ( expenses in 2017 were $220.6 and decreased by $0.6 million or flat to last year) Tj ET Q q 0 0 0 rg BT 544.55 535.70 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 511.70 Td (Restructuring Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.70 Td (Restructuring expenses for 2017 were $4.3 million. Restructuring expenses were $2.7 million in the ) Tj ET Q q 0 0 0 rg BT 451.68 499.70 Td (W) Tj ET Q q 0 0 0 rg BT 460.32 499.70 Td (ater segment primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.70 Td (related to the continuing Brazilian manufacturing realignments. Restructuring expenses were primarily severance expenses and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.70 Td (other miscellaneous manufacturing realignment activities. ) Tj ET Q q 0 0 0 rg BT 284.18 475.70 Td (The Fueling segment restructuring expenses in 2017 were $1.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.70 Td (million. ) Tj ET Q q 0 0 0 rg BT 83.71 463.70 Td (The Company wrote of) Tj ET Q q 0 0 0 rg BT 176.56 463.70 Td (f its ownership share in a Fueling Systems joint venture in India. Restructuring char) Tj ET Q q 0 0 0 rg BT 511.32 463.70 Td (ges for 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.70 Td (resulted in a net gain of $0.6 million. Restructuring expenses for 2016 included a gain of $2.0 million from the sale of land and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.70 Td (building in Brazil and $1.4 million in expenses related to severance, equipment transfers, freight and relocation cost related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.70 Td (the transfer of production activities and other restructuring costs from continued manufacturing realignments.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 403.70 Td (Operating Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.70 Td (Operating income was $107.2 million in 2017, down $4.9 million or about 4 percent from $1) Tj ET Q q 0 0 0 rg BT 421.79 391.70 Td (12.1 million in 2016.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 327.20 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 327.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 327.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 327.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 327.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 327.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 327.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 297.20 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 297.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 297.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 297.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 297.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 297.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 297.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 267.20 305.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 267.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 267.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 267.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 267.20 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 267.20 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 267.20 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 358.5 357.20000000000005 m 423.5 357.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 342.20000000000005 m 423.5 342.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 357.20000000000005 m 427.5 357.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 342.20000000000005 m 427.5 342.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 357.20000000000005 m 492.5 357.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 342.20000000000005 m 492.5 342.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 357.20000000000005 m 496.5 357.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 342.20000000000005 m 496.5 342.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 357.20000000000005 m 561.5 357.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 342.20000000000005 m 561.5 342.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 342.20000000000005 m 423.5 342.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 327.20000000000005 m 423.5 327.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 342.20000000000005 m 492.5 342.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 327.20000000000005 m 492.5 327.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 327.20000000000005 m 561.5 327.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 327.20000000000005 m 423.5 327.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 267.20000000000005 m 423.5 267.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 253.20000000000005 m 423.5 253.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 251.20000000000005 m 423.5 251.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 267.20000000000005 m 492.5 267.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 253.20000000000005 m 492.5 253.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 251.20000000000005 m 492.5 251.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 267.20000000000005 m 561.5 267.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 253.20000000000005 m 561.5 253.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 251.20000000000005 m 561.5 251.20000000000005 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 346.87 Td (Operating income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 331.87 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 331.87 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 331.87 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.50 331.87 Td (2017 v 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 316.87 Td (W) Tj ET Q q 0 0 0 rg BT 61.04 316.87 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 316.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 316.87 Td (102.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 316.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 316.87 Td (108.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 316.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 316.92 Td (\(6.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 316.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 301.87 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 301.87 Td (60.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 301.87 Td (56.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 301.87 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 286.87 Td (Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 286.87 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 286.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 286.87 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 271.87 Td (Eliminations/Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 271.92 Td (\(58.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 271.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 271.92 Td (\(52.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 271.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 271.92 Td (\(6.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 271.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 256.87 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 256.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 256.87 Td (107.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 256.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 256.87 Td (1) Tj ET Q q 0 0 0 rg BT 471.15 256.87 Td (12.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 256.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 256.92 Td (\(4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 256.87 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 228.70 Td (Operating Income-W) Tj ET Q q 0 0 0 rg BT 136.76 228.70 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.70 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 216.70 Td (ater Systems operating income was $102.0 million in 2017, down $6.2 million or about 6 percent versus 2016 of $108.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.70 Td (million and operating income mar) Tj ET Q q 0 0 0 rg BT 185.89 204.70 Td (gin was 13.6 percent in 2017 compared to the 15.0 percent in 2016. ) Tj ET Q q 0 0 0 rg BT 457.50 204.70 Td (As mentioned above ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.70 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 192.70 Td (ater Systems operating income was negatively impacted by $2.7 million in restructuring expenses in 2017 and favorably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.70 Td (impacted by $1.2 million in the prior year) Tj ET Q q 0 0 0 rg BT 216.63 180.70 Td (. ) Tj ET Q q 0 0 0 rg BT 221.45 180.70 Td (W) Tj ET Q q 0 0 0 rg BT 230.09 180.70 Td (ater Systems operating income before restructuring was $104.7 million in 2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.70 Td (and $107.0 million in 2016 and operating income mar) Tj ET Q q 0 0 0 rg BT 265.61 168.70 Td (gin before restructuring was 14.0 percent compared to the 14.8 percent in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.70 Td (2016. ) Tj ET Q q 0 0 0 rg BT 74.82 156.70 Td (The decline in operating income mar) Tj ET Q q 0 0 0 rg BT 222.08 156.70 Td (gin is primarily related to product and geographic sales mix shifts and higher raw ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.70 Td (material costs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 120.70 Td (Operating Income-Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.70 Td (Fueling Systems operating income was $60.0 million in 2017, up $3.7 million or about 7 percent compared to $56.3 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.70 Td (2016. ) Tj ET Q q 0 0 0 rg BT 74.82 96.70 Td (The 2017 operating income mar) Tj ET Q q 0 0 0 rg BT 202.93 96.70 Td (gin was 24.4 percent compared to the 24.8 percent of net sales in 2016. ) Tj ET Q q 0 0 0 rg BT 489.24 96.70 Td (As mentioned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.70 Td (above Fueling Systems operating income was negatively impacted by $1.6 million in restructuring expenses in 2017 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.70 Td (impacted by $0.6 million in the prior year) Tj ET Q q 0 0 0 rg BT 216.63 72.70 Td (. Fueling Systems operating income before restructuring was $61.6 million in 2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.70 Td (and $56.9 million in 2016 and operating income mar) Tj ET Q q 0 0 0 rg BT 260.61 60.70 Td (gin before restructuring was 25.1 percent in both 2017 and 2016. ) Tj ET Q q 0 0 0 rg BT 522.31 60.70 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.70 Td (increase in operating income was primarily due to higher sales.) 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 /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Operating Income-Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Distribution operating income was $3.7 million in 2017 and the operating income mar) Tj ET Q q 0 0 0 rg BT 394.47 706.10 Td (gin was 2.1 percent.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Operating Income-Eliminations/Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Operating Income-Eliminations/Other is composed primarily of inter) Tj ET Q q 0 0 0 rg BT 325.84 670.10 Td (-segment sales and profit eliminations and unallocated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (general and administrative expenses.) Tj ET Q q 0 0 0 rg BT 201.99 658.10 Td (The inter) Tj ET Q q 0 0 0 rg BT 238.16 658.10 Td (-segment profit elimination impact in 2017 was $5.5 million. ) Tj ET Q q 0 0 0 rg BT 484.33 658.10 Td (The intersegment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (elimination of operating income ef) Tj ET Q q 0 0 0 rg BT 188.66 646.10 Td (fectively defers the operating income on sales from ) Tj ET Q q 0 0 0 rg BT 396.18 646.10 Td (W) Tj ET Q q 0 0 0 rg BT 404.82 646.10 Td (ater Systems to Distribution in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (consolidated financial results until such time as the transferred product is sold from the Distribution segment to its end third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (party customer) Tj ET Q q 0 0 0 rg BT 109.15 622.10 Td (. General and administrative expenses were higher by $0.6 million or about 1 percent compared to 2016.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Interest Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Interest expense for 2017 and 2016 was $10.3 million and $8.7 million, respectively) Tj ET Q q 0 0 0 rg BT 386.23 586.10 Td (. ) Tj ET Q q 0 0 0 rg BT 391.04 586.10 Td (The increase in interest expense in 2017 is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (due to interest char) Tj ET Q q 0 0 0 rg BT 126.18 574.10 Td (ges on prior years ) Tj ET Q q 0 0 0 rg BT 199.86 574.10 Td (V) Tj ET Q q 0 0 0 rg BT 205.80 574.10 Td (A) Tj ET Q q 0 0 0 rg BT 211.91 574.10 Td (T) Tj ET Q q 0 0 0 rg BT 217.84 574.10 Td ( taxes as a result of an audit in an international jurisdiction and due to higher average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (borrowings resulting from the Headwater acquisitions.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Other Income or Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Other income or expense was income of $6.7 million in 2017. Included in other income in 2017 was a gain of $5.2 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (related to the acquisition of controlling interests in three Distribution entities previously held as equity investments. ) Tj ET Q q 0 0 0 rg BT 514.08 514.10 Td (Also, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (included in other income in 2017 was minority income of $0.6 million and interest income of $0.9 million, primarily derived ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (from the investment of cash balances in short-term securities. Other expense had $0.2 million related to non-operational ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (pension cost.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Other income or expense for 2016 was a loss of $0.3 million. Included in other income in 2016 was minority income $1.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (million and interest income of $1.0 million, primarily derived from the investment of cash balances in short-term securities. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (2016, other expenses also included the reversal of an indemnification receivable related to a contingent tax liability for $1.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (million recorded at the time of a foreign acquisition. ) Tj ET Q q 0 0 0 rg BT 263.92 418.10 Td (The contingent tax liability was for the same amount and was also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (reversed in 2016 and the benefit was recorded in the income tax provision. ) Tj ET Q q 0 0 0 rg BT 350.46 406.10 Td (Also, included in other expense in 2016 was $1.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (million related to non-operational pension cost.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Foreign Exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (Foreign currency-based transactions produced a gain for 2017 and 2016 of $1.0 million and $1.1 million, respectively) Tj ET Q q 0 0 0 rg BT 520.62 358.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 88.80 334.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (The provision for income taxes in 2017 and 2016 was $26.0 million and $24.8 million, respectively) Tj ET Q q 0 0 0 rg BT 447.62 322.10 Td (. ) Tj ET Q q 0 0 0 rg BT 452.44 322.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 478.07 322.10 Td (fective tax rate for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (2016 was about 24 percent and, before the impact of discrete events, was about 26 percent. ) Tj ET Q q 0 0 0 rg BT 416.08 310.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 441.71 310.10 Td (fective tax rate for 2017 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (about 25 percent, both before and after the impact of discrete events. ) Tj ET Q q 0 0 0 rg BT 329.43 298.10 Td (The tax rate was lower than the statutory rate of 35 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (percent primarily due to foreign earnings taxed at lower statutory rates and the recognition of US incentives. ) Tj ET Q q 0 0 0 rg BT 488.29 286.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (recorded a provisional net tax expense of $10.2 million relating to the enactment of the U.S. ) Tj ET Q q 0 0 0 rg BT 420.55 274.10 Td (T) Tj ET Q q 0 0 0 rg BT 425.96 274.10 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 495.41 274.10 Td (Act of 2017. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (This expense was primarily derived from the recognition of a U.S. tax liability for the deemed repatriation of foreign earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (partially of) Tj ET Q q 0 0 0 rg BT 93.97 250.10 Td (fset by the revaluation of other deferred tax liabilities. Other discrete benefits of $10.3 million of) Tj ET Q q 0 0 0 rg BT 483.11 250.10 Td (fset the expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (including a foreign currency translation loss on the repayment of an intercompany loan that was a long-term-investment in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (nature, a tax restructuring in a foreign tax jurisdiction that released a valuation allowance on a deferred tax asset, a tax benefit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (on the non-taxable gain recorded on the previously held equity investments, excess tax benefits from share-based compensation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (and the statute expiration on foreign uncertain tax positions. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Net income for 2017 was $78.6 million compared to 2016 net income of $79.3 million.Net income attributable to Franklin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (Electric Co., Inc. for 2017 was $78.2 million, or $1.65 per diluted share, compared to 2016 net income attributable to Franklin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Electric Co., Inc. of $78.7 million or $1.65 per diluted share.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 80.37 118.10 Td (AL) Tj ET Q q 0 0 0 rg BT 93.71 118.10 Td ( RESOURCES ) Tj ET Q q 0 0 0 rg BT 159.29 118.10 Td (AND LIQUIDITY) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (Sources of Liquidity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 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 58.10 Td (long-term debt funds available. ) Tj ET Q q 0 0 0 rg BT 177.28 58.10 Td (The Company believes its capital resources and liquidity position at December 31, 2018 is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (adequate to meet projected needs. ) Tj ET Q q 0 0 0 rg BT 187.53 46.10 Td (The Company expects that ongoing requirements for operations, capital expenditures, ) 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 /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 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 50.00 730.10 Td (agreements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.10 Td (As of December 31, 2018, the Company had a $300.0 million revolving credit facility) Tj ET Q q 0 0 0 rg BT 393.16 710.10 Td (. ) Tj ET Q q 0 0 0 rg BT 397.98 710.10 Td (The facility is scheduled to mature on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.10 Td (October 28, 2021. ) Tj ET Q q 0 0 0 rg BT 124.16 698.10 Td (As of December 31, 2018, the Company had $218.2 million borrowing capacity under the Credit ) Tj ET Q q 0 0 0 rg BT 513.52 698.10 Td (Agreement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 686.10 Td (as $5.5 million in letters of commercial and standby letters of credit were outstanding and undrawn and $76.3 million revolver ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.10 Td (borrowing was drawn and outstanding as of the end of the year) Tj ET Q q 0 0 0 rg BT 301.32 674.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 654.10 Td (The Company also has other long-term debt borrowings outstanding as of December 31, 2018. See Footnote 1) Tj ET Q q 0 0 0 rg BT 490.65 654.10 Td (1 for additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 642.10 Td (specifics regarding these obligations and future maturities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (At December 31, 2018, the Company had $43.9 million of cash and cash equivalents held in foreign jurisdictions, which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (company intends to use to fund foreign operations. ) Tj ET Q q 0 0 0 rg BT 255.61 610.10 Td (There is currently no need to repatriate these funds in order to meet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (domestic funding obligations or scheduled cash distributions. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 578.10 Td (Cash Flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.10 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 49.50 528.60 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 528.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 528.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 528.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 528.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 528.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 498.60 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 498.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 498.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 498.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 498.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 498.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 468.60 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 468.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 468.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 468.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 468.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 468.60 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 311.5 528.6 m 391.5 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 528.6 m 476.5 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 528.6 m 561.5 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 468.6 m 391.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 454.6 m 391.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 452.6 m 391.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 468.6 m 476.5 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 454.6 m 476.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 452.6 m 476.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 468.6 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 481.5 454.6 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 481.5 452.6 m 561.5 452.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 533.27 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 533.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.00 533.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.00 533.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 518.27 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 518.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 518.27 Td (128.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 518.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 518.27 Td (66.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 518.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 518.27 Td (1) Tj ET Q q 0 0 0 rg BT 540.15 518.27 Td (15.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 503.27 Td (Net cash used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.80 503.32 Td (\(66.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 503.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 503.32 Td (\(84.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 503.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 503.32 Td (\(33.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 503.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 488.27 Td (Net cash used in financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.80 488.32 Td (\(66.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 488.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 488.32 Td (\(22.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 488.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 488.32 Td (\(51.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 488.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 473.27 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 371.80 473.32 Td (\(3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 473.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 473.27 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 473.32 Td (\(7.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 473.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 458.27 Td (Change in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.80 458.32 Td (\(8.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 458.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 458.32 Td (\(37.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 458.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 458.27 Td (22.8) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Cash Flows Provided by Operating ) Tj ET Q q 0 0 0 rg BT 196.03 430.10 Td (Activities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (2018 vs. 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (Net cash provided by operating activities was $128.4 million for 2018 compared to $66.8 million for 2017. ) Tj ET Q q 0 0 0 rg BT 480.29 406.10 Td (The increase in cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (provided by operations in 2018 was lar) Tj ET Q q 0 0 0 rg BT 205.90 394.10 Td (gely attributable to an increase in net income of $22 million before the prior year non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (cash gain on equity investments and the impacts of the U.S. ) Tj ET Q q 0 0 0 rg BT 291.16 382.10 Td (T) Tj ET Q q 0 0 0 rg BT 296.57 382.10 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 366.02 382.10 Td (Act. ) Tj ET Q q 0 0 0 rg BT 385.28 382.10 Td (The Company also had a reduction in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (prepaid assets, a decrease in working capital, primarily related to inventory consistent with increased sales, and a reduction in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (other assets, which consisted primarily of prepaid assets. ) Tj ET Q q 0 0 0 rg BT 279.21 358.10 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 410.63 358.10 Td (fset by tax payments for the U.S. ) Tj ET Q q 0 0 0 rg BT 544.59 358.10 Td (T) Tj ET Q q 0 0 0 rg BT 550.00 358.10 Td (ax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 107.51 346.10 Td (Act during the current year) Tj ET Q q 0 0 0 rg BT 215.24 346.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 326.10 Td (2017 vs. 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.10 Td (Net cash provided by operating activities was $66.8 million for 2017 compared to $1) Tj ET Q q 0 0 0 rg BT 389.55 314.10 Td (15.4 million for 2016. ) Tj ET Q q 0 0 0 rg BT 479.55 314.10 Td (A) Tj ET Q q 0 0 0 rg BT 486.22 314.10 Td ( decrease in cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.10 Td (provided by operations in 2017 was lar) Tj ET Q q 0 0 0 rg BT 205.90 302.10 Td (gely attributable to an increase in inventory) Tj ET Q q 0 0 0 rg BT 379.08 302.10 Td (. Inventory increased primarily as actual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.10 Td (shipments were less than sales projections for 2017 as well as advance purchases of strategic inventory products. ) Tj ET Q q 0 0 0 rg BT 506.08 290.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td (Company also had higher uses of cash related to payments to vendors and reduction of other accrued liabilities, primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.10 Td (payments of incentive compensation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 242.10 Td (Cash Flows Used in Investing ) Tj ET Q q 0 0 0 rg BT 175.49 242.10 Td (Activities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 230.10 Td (2018 vs. 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.10 Td (Net cash used in investing activities was $66.3 million in 2018 compared to $84.7 million in 2017. ) Tj ET Q q 0 0 0 rg BT 446.99 218.10 Td (The decrease was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.10 Td (attributable to decreased capital expenditures and a decrease in the cash paid for acquisitions. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 182.10 Td (2017 vs. 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.10 Td (Net cash used in investing activities was $84.7 million in 2017 compared to $33.8 million in 2016. ) Tj ET Q q 0 0 0 rg BT 449.49 170.10 Td (The increase was almost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.10 Td (entirely attributable to cash paid related to the Distribution acquisitions during the second quarter of 2017. ) Tj ET Q q 0 0 0 rg BT 479.71 158.10 Td (The remainder of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.10 Td (the change was partially of) Tj ET Q q 0 0 0 rg BT 157.55 146.10 Td (fset by decreased capital expenditures in 2017. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 122.10 Td (Cash Flows Used in Financing ) Tj ET Q q 0 0 0 rg BT 180.50 122.10 Td (Activities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 110.10 Td (2018 vs. 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.10 Td (Net cash used in financing activities was $66.8 million in 2018 compared to $22.6 million in 2017. ) Tj ET Q q 0 0 0 rg BT 448.09 98.10 Td (The increase of cash used in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 86.10 Td (financing activities was attributable to increased repayments relative to overall borrowings in the current year) Tj ET Q q 0 0 0 rg BT 487.77 86.10 Td (, increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.10 Td (common stock repurchases under the Company) Tj ET Q q 0 0 0 rg BT 242.45 74.10 Td (s stock repurchase program, and increased dividend payments. ) Tj ET Q q 0 0 0 rg BT 494.97 74.10 Td (These increases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 62.10 Td (were partially of) Tj ET Q q 0 0 0 rg BT 115.90 62.10 Td (fset by proceeds from the issuance of common stock as well as the Company) Tj ET Q q 0 0 0 rg BT 426.10 62.10 Td (s purchase of redeemable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 50.10 Td (noncontrolling shares that occurred in the prior year) Tj ET Q q 0 0 0 rg BT 257.43 50.10 Td (. ) 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 BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (2017 vs. 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Net cash flows from financing activities were uses of cash of $22.6 million in 2017 compared to $51.7 million in 2016. ) Tj ET Q q 0 0 0 rg BT 531.67 718.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (decrease of cash used in financing activities in 2017 was primarily attributable to decreased repayment relative to debt proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (in 2017. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (AGGREGA) Tj ET Q q 0 0 0 rg BT 97.78 670.25 Td (TE CONTRACTUAL) Tj ET Q q 0 0 0 rg BT 186.57 670.25 Td ( OBLIGA) Tj ET Q q 0 0 0 rg BT 225.73 670.25 Td (TIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (The majority of the Company) Tj ET Q q 0 0 0 rg BT 171.64 658.25 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 50.00 646.25 Td (certain contractual obligations for future lease payments and purchase obligations. ) Tj ET Q q 0 0 0 rg BT 384.15 646.25 Td (The payment schedule for these contractual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (obligations is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 583.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 583.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 583.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 583.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 583.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 583.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 583.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 583.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 583.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 583.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 555.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 555.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 555.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 555.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 555.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 555.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 555.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 555.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 555.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 555.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 527.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 527.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 527.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 527.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 527.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 527.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 527.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 527.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 527.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 527.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 488.75 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 488.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 488.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 488.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 488.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 488.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 488.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 488.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 488.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 488.75 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 270.5 583.75 m 325.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 583.75 m 384.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 583.75 m 443.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 583.75 m 502.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 583.75 m 561.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 583.75 m 325.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 583.75 m 329.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 583.75 m 384.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 583.75 m 388.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 583.75 m 443.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 583.75 m 447.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 583.75 m 502.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 583.75 m 506.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 583.75 m 561.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 488.75 m 325.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 488.75 m 384.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 488.75 m 443.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 488.75 m 502.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 488.75 m 561.5 488.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 602.32 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 602.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 602.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 602.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.80 602.32 Td (More than) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 588.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.25 588.32 Td (T) Tj ET Q q 0 0 0 rg BT 293.01 588.32 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.50 588.32 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 588.32 Td (2020-2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 588.32 Td (2022-2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.20 588.32 Td (5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 574.32 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 574.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.15 574.32 Td (206.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 574.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 574.32 Td (1) Tj ET Q q 0 0 0 rg BT 363.15 574.32 Td (12.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 574.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 574.32 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 574.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 574.32 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 574.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 574.32 Td (89.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 560.32 Td (Debt interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 560.32 Td (30.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 560.32 Td (7.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 560.32 Td (7.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 560.32 Td (7.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 560.32 Td (8.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 546.32 Td (Capital leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 546.32 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 546.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 546.32 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 546.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 546.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 532.32 Td (Operating leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 532.32 Td (27.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 532.32 Td (8.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 532.32 Td (9.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 532.32 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 532.32 Td (5.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 518.32 Td (Purchase obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 518.32 Td (8.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 518.32 Td (7.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 518.32 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 518.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 518.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 504.32 Td (Income ) Tj ET Q q 0 0 0 rg BT 84.30 504.32 Td (T) Tj ET Q q 0 0 0 rg BT 89.71 504.32 Td (axes-U.S. ) Tj ET Q q 0 0 0 rg BT 130.92 504.32 Td (T) Tj ET Q q 0 0 0 rg BT 136.33 504.32 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 205.77 504.32 Td (Act transition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 494.32 Td (tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 493.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.15 493.42 Td (17.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 493.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 493.42 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 493.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 493.42 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 493.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 493.42 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 493.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 493.42 Td (8.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 479.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 479.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.15 479.32 Td (290.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 479.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 479.32 Td (137.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 479.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 479.32 Td (23.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 479.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 479.32 Td (17.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 479.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 479.32 Td (1) Tj ET Q q 0 0 0 rg BT 540.15 479.32 Td (12.5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.25 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 50.00 439.25 Td (estimated future payments of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.11 439.25 Td ($1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.50 439.25 Td ( in 2019.) Tj ET Q q 0 0 0 rg BT 310.60 439.25 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 50.00 427.25 Td (which are included in the table above.) Tj ET Q q 0 0 0 rg BT 206.70 427.25 Td (The unrecognized tax benefits of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.07 427.25 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.97 427.25 Td ( have been recorded as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.25 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 50.00 403.25 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 404.61 403.25 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.51 403.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.25 Td (ACCOUNTING PRONOUNCEMENTS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 367.25 Td (Adoption of New ) Tj ET Q q 0 0 0 rg BT 121.58 367.25 Td (Accounting Standards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.25 Td (In March 2017, the Financial ) Tj ET Q q 0 0 0 rg BT 168.31 355.25 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 298.93 355.25 Td (ASB\) issued ) Tj ET Q q 0 0 0 rg BT 355.60 355.25 Td (Accounting Standards Update \(ASU\) 2017-07, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 343.25 Td (Compensation - Retir) Tj ET Q q 0 0 0 rg BT 135.73 343.25 Td (ement Benefits \(T) Tj ET Q q 0 0 0 rg BT 204.79 343.25 Td (opic 715\): Impr) Tj ET Q q 0 0 0 rg BT 267.74 343.25 Td (oving the Pr) Tj ET Q q 0 0 0 rg BT 316.81 343.25 Td (esentation of Net Periodic Pension Cost and Net Periodic ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 331.25 Td (Postr) Tj ET Q q 0 0 0 rg BT 71.30 331.25 Td (etir) Tj ET Q q 0 0 0 rg BT 84.81 331.25 Td (ement Benefit Cost. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.85 331.25 Td (This ) Tj ET Q q 0 0 0 rg BT 187.58 331.25 Td (ASU requires entities to present only the service cost component of net periodic benefit cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.25 Td (as an operating expense \(consistent with the presentation of other employee compensation costs\). ) Tj ET Q q 0 0 0 rg BT 443.87 319.25 Td (The other components of net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.25 Td (periodic benefit cost are to be presented as a non-operating expense. ) Tj ET Q q 0 0 0 rg BT 325.26 307.25 Td (The Company adopted ) Tj ET Q q 0 0 0 rg BT 418.30 307.25 Td (ASU 2017-07 during the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.25 Td (quarter ended March 31, 2018, on a retrospective basis. ) Tj ET Q q 0 0 0 rg BT 274.19 295.25 Td (The non-service cost component of net periodic benefit costs for fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.25 Td (years ended December 31, 2017 and December 31, 2016 was approximately $0.2 million and $1.3 million, respectively) Tj ET Q q 0 0 0 rg BT 527.28 283.25 Td (. ) Tj ET Q q 0 0 0 rg BT 534.59 283.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.25 Td (Company has included current year non-service costs as non-operating expense. ) Tj ET Q q 0 0 0 rg BT 372.77 271.25 Td (The adoption of this pronouncement did not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.25 Td (have a material impact to the Company) Tj ET Q q 0 0 0 rg BT 209.95 259.25 Td (s consolidated financial position, results of operations, or cash flows. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.25 Td (In May 2014, the F) Tj ET Q q 0 0 0 rg BT 126.20 235.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 175.10 235.25 Td (ASU 2014-09, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 235.93 235.25 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 278.59 235.25 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 408.25 235.25 Td (opic 606\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.29 235.25 Td ( as modified by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.25 Td (subsequently issued ) Tj ET Q q 0 0 0 rg BT 131.67 223.25 Td (ASUs 2015-14, 2016-08, 2016-10, 2016-12 and 2016-20 \(collectively ) Tj ET Q q 0 0 0 rg BT 413.57 223.25 Td (ASU 2014-09\). ) Tj ET Q q 0 0 0 rg BT 480.06 223.25 Td (T) Tj ET Q q 0 0 0 rg BT 485.47 223.25 Td (opic 606 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.25 Td (supersedes the revenue recognition requirements in ) Tj ET Q q 0 0 0 rg BT 257.15 211.25 Td (Accounting Standards Codification \(ASC\) ) Tj ET Q q 0 0 0 rg BT 438.05 211.25 Td (T) Tj ET Q q 0 0 0 rg BT 443.46 211.25 Td (opic 605, Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.25 Td (Recognition \(T) Tj ET Q q 0 0 0 rg BT 114.56 199.25 Td (opic 605\), and requires the recognition of revenue when promised goods or services are transferred to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.25 Td (customers in an amount that reflects the considerations to which the entity expects to be entitled to in exchange for those goods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.25 Td (or services. ) Tj ET Q q 0 0 0 rg BT 100.36 175.25 Td (The Company made the accounting policy election allowed by ) Tj ET Q q 0 0 0 rg BT 352.78 175.25 Td (ASC 606-10-32-2A) Tj ET Q q 0 0 0 rg BT 431.40 175.25 Td ( to continue to present sales tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.25 Td (on a net basis, consistent with current guidance in ) Tj ET Q q 0 0 0 rg BT 251.06 163.25 Td (ASC 605-45-15-2\(e\). ) Tj ET Q q 0 0 0 rg BT 341.43 163.25 Td (The guidance permits two methods of adoption: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.25 Td (retrospectively to each prior reporting period presented \(full retrospective method\), or retrospectively with the cumulative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 139.25 Td (fect of initially applying the guidance recognized at the date of initial application \(modified retrospective method\). ) Tj ET Q q 0 0 0 rg BT 520.58 139.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.25 Td (Company adopted ) Tj ET Q q 0 0 0 rg BT 124.99 127.25 Td (ASU 2014-09 during the first quarter ended March 31, 2018 utilizing the modified retrospective approach. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.25 Td (The adoption of this ) Tj ET Q q 0 0 0 rg BT 132.77 115.25 Td (ASU did not have a material impact to the Company) Tj ET Q q 0 0 0 rg BT 345.78 115.25 Td (s condensed consolidated financial position, results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.25 Td (operations, or cash flow; however) Tj ET Q q 0 0 0 rg BT 185.39 103.25 Td (, the adoption of this ) Tj ET Q q 0 0 0 rg BT 269.83 103.25 Td (ASU requires the Company to disclose suf) Tj ET Q q 0 0 0 rg BT 440.18 103.25 Td (ficient information to enable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.25 Td (users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.25 Td (contracts with customers. ) Tj ET Q q 0 0 0 rg BT 154.24 79.25 Td (The Company completed its assessment of the additional disclosure requirements with the following ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.25 Td (results:) 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 /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Disaggr) Tj ET Q q 0 0 0 rg BT 118.41 742.10 Td (egation of Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 720.10 Td (The adoption of this ) Tj ET Q q 0 0 0 rg BT 168.77 720.10 Td (ASU requires the Company to disaggregate revenue into categories to depict how the nature, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 708.10 Td (timing, and uncertainty of revenue and cash flows are af) Tj ET Q q 0 0 0 rg BT 310.73 708.10 Td (fected by economic factors. ) Tj ET Q q 0 0 0 rg BT 425.68 708.10 Td (As evidenced in Footnote 16 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 696.10 Td (Segment and Geographic Information, the Company) Tj ET Q q 0 0 0 rg BT 298.72 696.10 Td (s business consists of the ) Tj ET Q q 0 0 0 rg BT 401.04 696.10 Td (W) Tj ET Q q 0 0 0 rg BT 409.68 696.10 Td (ater) Tj ET Q q 0 0 0 rg BT 424.27 696.10 Td (, Fueling, Distribution, and Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 684.10 Td (segments. ) Tj ET Q q 0 0 0 rg BT 128.04 684.10 Td (The Other segment includes unallocated corporate expenses and intersegment eliminations. ) Tj ET Q q 0 0 0 rg BT 495.42 684.10 Td (A) Tj ET Q q 0 0 0 rg BT 502.09 684.10 Td ( reconciliation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 672.10 Td (of disaggregated revenue to segment revenue as well as ) Tj ET Q q 0 0 0 rg BT 310.45 672.10 Td (W) Tj ET Q q 0 0 0 rg BT 319.09 672.10 Td (ater Segment revenue by geographical regions is provided in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 660.10 Td (Footnote 16, consistent with how the Company evaluates financial performance.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 640.10 Td (Performance Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 618.10 Td (A) Tj ET Q q 0 0 0 rg BT 92.67 618.10 Td ( performance obligation is a promise in a contract to transfer a distinct good or service to the customer) Tj ET Q q 0 0 0 rg BT 501.58 618.10 Td (, and is the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 606.10 Td (unit of account in ) Tj ET Q q 0 0 0 rg BT 158.21 606.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 179.98 606.10 Td (T) Tj ET Q q 0 0 0 rg BT 185.39 606.10 Td (opic 606. ) Tj ET Q q 0 0 0 rg BT 227.43 606.10 Td (The Company typically sells its products to customers by purchase order) Tj ET Q q 0 0 0 rg BT 518.08 606.10 Td (, and does ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 594.10 Td (not have any additional performance obligations included in contracts to customers other than the shipment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 582.10 Td (products. ) Tj ET Q q 0 0 0 rg BT 125.26 582.10 Td (The Company records net sales revenues after discounts at the time of sale based on specific discount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 570.10 Td (programs in ef) Tj ET Q q 0 0 0 rg BT 144.13 570.10 Td (fect, related historical data, and experience. ) Tj ET Q q 0 0 0 rg BT 320.25 570.10 Td (The Company typically ships products FOB shipping at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 558.10 Td (which point control of the products passes to the customers. ) Tj ET Q q 0 0 0 rg BT 327.35 558.10 Td (Any shipping and handling fees prior to shipment are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 546.10 Td (considered activities required to fulfill the Company) Tj ET Q q 0 0 0 rg BT 298.16 546.10 Td (s promise to transfer goods, and do not qualify as a separate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 534.10 Td (performance obligation. Shipping and handling costs are recorded as a component of cost of sales. ) Tj ET Q q 0 0 0 rg BT 483.67 534.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 533.57 534.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 522.10 Td (Company of) Tj ET Q q 0 0 0 rg BT 135.54 522.10 Td (fers assurance-type warranties \(vs. service warranties\) which do not qualify as a separate performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 510.10 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 131.37 510.10 Td (Therefore, the Company allocates the transaction price based on a single performance obligation. ) Tj ET Q q 0 0 0 rg BT 524.93 510.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 498.10 Td (Company of) Tj ET Q q 0 0 0 rg BT 135.54 498.10 Td (fers normal and customary trade terms to its customers, no significant part of which is of an extended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 486.10 Td (nature. ) Tj ET Q q 0 0 0 rg BT 118.30 486.10 Td (The Company considers the performance obligation satisfied and recognizes revenue at a point in time, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 474.10 Td (time of shipment. ) Tj ET Q q 0 0 0 rg BT 161.09 474.10 Td (The Company does not generally allow for refunds or returns to customers and does not have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 462.10 Td (outstanding performance obligations for contracts with original durations of greater than one year at the end of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 450.10 Td (reporting period. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 430.10 Td (Contract Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 408.10 Td (The Company does not have outstanding contracts with an original term greater than one year; therefore, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 396.10 Td (expenses costs to obtain a contract as incurred.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (Accounting Standards Issued But Not ) Tj ET Q q 0 0 0 rg BT 208.48 364.10 Td (Y) Tj ET Q q 0 0 0 rg BT 213.48 364.10 Td (et ) Tj ET Q q 0 0 0 rg BT 222.82 364.10 Td (Adopted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 352.10 Td (August 2018, the F) Tj ET Q q 0 0 0 rg BT 136.21 352.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 185.11 352.10 Td (ASU 2018-14, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 245.94 352.10 Td (Compensation-Retir) Tj ET Q q 0 0 0 rg BT 326.67 352.10 Td (ement Benefits-Defined Benefit Plans-General \(T) Tj ET Q q 0 0 0 rg BT 522.92 352.10 Td (opic ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (715-20\): Disclosur) Tj ET Q q 0 0 0 rg BT 126.01 340.10 Td (e Framework-Changes to the Disclosur) Tj ET Q q 0 0 0 rg BT 283.96 340.10 Td (e Requir) Tj ET Q q 0 0 0 rg BT 317.74 340.10 Td (ements for Defined Benefit Plans, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.93 340.10 Td (which modifies the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. ) Tj ET Q q 0 0 0 rg BT 473.59 328.10 Td (The amendments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (remove disclosures that no longer are considered cost beneficial, including the estimated amounts in accumulated other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (comprehensive income expected to be recognized as components of net periodic expense over the next fiscal year) Tj ET Q q 0 0 0 rg BT 504.26 304.10 Td (. ) Tj ET Q q 0 0 0 rg BT 509.08 304.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (amendments clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (the reasons for significant gains and losses related to change in the benefit obligation for the period. ) Tj ET Q q 0 0 0 rg BT 453.87 280.10 Td (The ) Tj ET Q q 0 0 0 rg BT 471.36 280.10 Td (ASU should be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (applied retrospectively and is ef) Tj ET Q q 0 0 0 rg BT 177.55 268.10 Td (fective for interim and annual periods beginning after December 15, 2020. ) Tj ET Q q 0 0 0 rg BT 477.54 268.10 Td (The Company is still ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (determining the date of adoption for this ) Tj ET Q q 0 0 0 rg BT 213.57 256.10 Td (ASU but does not anticipate the adoption to have a material impact on the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (consolidated financial position, results of operations, or cash flows.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 220.10 Td (August 2018, the F) Tj ET Q q 0 0 0 rg BT 136.21 220.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 185.11 220.10 Td (ASU 2018-15, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 245.94 220.10 Td (Goodwill and Other - Internal-Use Softwar) Tj ET Q q 0 0 0 rg BT 419.17 220.10 Td (e \(Subtopic 350-40\): Customer) Tj ET Q q 0 0 0 rg BT 543.69 220.10 Td () Tj ET Q q 0 0 0 rg BT 545.73 220.10 Td (s ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (Accounting for Implementation Costs Incurr) Tj ET Q q 0 0 0 rg BT 227.39 208.10 Td (ed in a Cloud Computing ) Tj ET Q q 0 0 0 rg BT 330.82 208.10 Td (Arrangement That Is a Service Contract. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.63 208.10 Td (This ) Tj ET Q q 0 0 0 rg BT 516.36 208.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.10 Td (the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software \(and hosting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td (arrangements that include internal-use software license\). ) Tj ET Q q 0 0 0 rg BT 278.33 172.10 Td (The ) Tj ET Q q 0 0 0 rg BT 295.83 172.10 Td (ASU should be applied either retrospectively or prospectively to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (all implementation costs incurred after the date of adoption and is ef) Tj ET Q q 0 0 0 rg BT 322.78 160.10 Td (fective for interim and annual periods beginning after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (December 15, 2019 with early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 254.48 148.10 Td (The Company is still determining the date of adoption for this ) Tj ET Q q 0 0 0 rg BT 504.17 148.10 Td (ASU but does ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (not anticipate the adoption to have a material impact on the Company's consolidated financial position, results of operations, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (cash flows.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (In February 2018, the F) Tj ET Q q 0 0 0 rg BT 143.96 100.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.87 100.10 Td (ASU 2018-02, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 253.70 100.10 Td (Reclassification of Certain T) Tj ET Q q 0 0 0 rg BT 368.06 100.10 Td (ax Effects fr) Tj ET Q q 0 0 0 rg BT 416.01 100.10 Td (om ) Tj ET Q q 0 0 0 rg BT 430.55 100.10 Td (Accumulated Other ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (Compr) Tj ET Q q 0 0 0 rg BT 77.41 88.10 Td (ehensive Income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.26 88.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.58 88.10 Td (This ) Tj ET Q q 0 0 0 rg BT 168.31 88.10 Td (ASU was issued following the enactment of the U.S. ) Tj ET Q q 0 0 0 rg BT 381.71 88.10 Td (T) Tj ET Q q 0 0 0 rg BT 387.12 88.10 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 456.57 88.10 Td (Act of 2017 \("T) Tj ET Q q 0 0 0 rg BT 519.66 88.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 531.04 88.10 Td (Act"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (and permits entities to elect a reclassification from accumulated other comprehensive income to retained earnings for stranded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (tax ef) Tj ET Q q 0 0 0 rg BT 72.30 64.10 Td (fects resulting from the ) Tj ET Q q 0 0 0 rg BT 167.65 64.10 Td (T) Tj ET Q q 0 0 0 rg BT 173.06 64.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 184.45 64.10 Td (Act. ) Tj ET Q q 0 0 0 rg BT 203.71 64.10 Td (The ) Tj ET Q q 0 0 0 rg BT 221.20 64.10 Td (ASU is ef) Tj ET Q q 0 0 0 rg BT 260.46 64.10 Td (fective for interim and annual periods beginning after December 15, 2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.10 Td (with early adoption permitted, and may be applied either at the beginning of the period of adoption or retrospectively to each ) 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 BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (period in which the ef) Tj ET Q q 0 0 0 rg BT 137.57 742.10 Td (fect of the change in the U.S. federal corporate income tax rate in the ) Tj ET Q q 0 0 0 rg BT 416.15 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 421.56 742.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 432.95 742.10 Td (Act is recognized. ) Tj ET Q q 0 0 0 rg BT 507.74 742.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Company will adopt the standard ef) Tj ET Q q 0 0 0 rg BT 192.84 730.10 Td (fective January 1, 2019. ) Tj ET Q q 0 0 0 rg BT 293.46 730.10 Td (The Company will not reclassify tax ef) Tj ET Q q 0 0 0 rg BT 449.35 730.10 Td (fects stranded in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (accumulated other comprehensive loss. ) Tj ET Q q 0 0 0 rg BT 211.62 718.10 Td (As such, there is no impact on the Company) Tj ET Q q 0 0 0 rg BT 391.31 718.10 Td (s consolidated financial position, results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (of operations, and cash flows as a result of the adoption of the ) Tj ET Q q 0 0 0 rg BT 299.94 706.10 Td (ASU. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 686.10 Td (In January 2017, the F) Tj ET Q q 0 0 0 rg BT 138.96 686.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 187.87 686.10 Td (ASU 2017-04, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 248.70 686.10 Td (Intangibles - Goodwill and Other \(T) Tj ET Q q 0 0 0 rg BT 393.06 686.10 Td (opic 350\): Simplifying the T) Tj ET Q q 0 0 0 rg BT 504.35 686.10 Td (est for ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 674.10 Td (Goodwill Impairment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.89 674.10 Td (ASU 2017-04 removes step two from the goodwill impairment test and instead requires an entity to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.10 Td (recognize a goodwill impairment char) Tj ET Q q 0 0 0 rg BT 201.98 662.10 Td (ge for the amount by which the goodwill carrying amount exceeds the reporting unit's fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 78.97 650.10 Td (The ) Tj ET Q q 0 0 0 rg BT 96.47 650.10 Td (ASU is ef) Tj ET Q q 0 0 0 rg BT 135.73 650.10 Td (fective on a prospective basis for interim and annual periods beginning after December 15, 2019 with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 638.10 Td (early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 158.12 638.10 Td (The Company is still determining the date of adoption for this ) Tj ET Q q 0 0 0 rg BT 407.80 638.10 Td (ASU but does not anticipate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 626.10 Td (adoption to have a material impact on the Company's consolidated financial position, results of operations, or cash flows. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.10 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 143.96 602.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.87 602.10 Td (ASU 2016-02, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 253.70 602.10 Td (Leases \(T) Tj ET Q q 0 0 0 rg BT 291.40 602.10 Td (opic 842) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.11 602.10 Td (\), which supersedes existing guidance on accounting for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 590.10 Td (leases found in ) Tj ET Q q 0 0 0 rg BT 111.93 590.10 Td (Accounting Standards Codification \(ASC\) ) Tj ET Q q 0 0 0 rg BT 292.83 590.10 Td (T) Tj ET Q q 0 0 0 rg BT 298.24 590.10 Td (opic 840. ) Tj ET Q q 0 0 0 rg BT 340.27 590.10 Td (This ) Tj ET Q q 0 0 0 rg BT 360.00 590.10 Td (ASU requires lessees to present right-of-use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 578.10 Td (\(ROU\) assets and lease liabilities on the balance sheet for all leases with terms longer than 12 months. In July 2018, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.10 Td (F) Tj ET Q q 0 0 0 rg BT 54.82 566.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 103.72 566.10 Td (ASU 2018-10, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 164.56 566.10 Td (Codification Impr) Tj ET Q q 0 0 0 rg BT 236.13 566.10 Td (ovements to T) Tj ET Q q 0 0 0 rg BT 290.76 566.10 Td (opic 842, Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.70 566.10 Td ( and ) Tj ET Q q 0 0 0 rg BT 376.58 566.10 Td (ASU 2018-1) Tj ET Q q 0 0 0 rg BT 427.05 566.10 Td (1, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 437.05 566.10 Td (Leases \(T) Tj ET Q q 0 0 0 rg BT 474.74 566.10 Td (opic 842\): T) Tj ET Q q 0 0 0 rg BT 523.26 566.10 Td (ar) Tj ET Q q 0 0 0 rg BT 531.78 566.10 Td (geted ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 554.10 Td (Impr) Tj ET Q q 0 0 0 rg BT 69.07 554.10 Td (ovements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.28 554.10 Td (. ) Tj ET Q q 0 0 0 rg BT 110.73 554.10 Td (ASU 2018-10 clarifies certain aspects of ) Tj ET Q q 0 0 0 rg BT 275.49 554.10 Td (T) Tj ET Q q 0 0 0 rg BT 280.90 554.10 Td (opic 842, including the rate implicit in the lease, impairment of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.10 Td (net investment in the lease, lessee reassessment of lease classification, lessor reassessment of lease term and purchase options, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.10 Td (variable payments that depend on an index or rate and certain transition adjustments, among other things. ) Tj ET Q q 0 0 0 rg BT 473.22 530.10 Td (ASU 2018-1) Tj ET Q q 0 0 0 rg BT 523.68 530.10 Td (1 allows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.10 Td (entities adopting ) Tj ET Q q 0 0 0 rg BT 118.33 518.10 Td (ASU 2016-02 to choose an additional \(and optional\) transition method of adoption, under which an entity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 506.10 Td (initially applies the new lease standard at the adoption date and recognizes a cumulative-ef) Tj ET Q q 0 0 0 rg BT 412.73 506.10 Td (fect adjustment to the opening ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 494.10 Td (balance of retained earnings in the period of adoption. ) Tj ET Q q 0 0 0 rg BT 268.26 494.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 318.16 494.10 Td (, ) Tj ET Q q 0 0 0 rg BT 322.61 494.10 Td (ASU 2018-1) Tj ET Q q 0 0 0 rg BT 373.07 494.10 Td (1 allows lessors to not separate non-lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.10 Td (components from the associated lease component if certain conditions are met. ) Tj ET Q q 0 0 0 rg BT 367.49 482.10 Td (The guidance is to be applied using either the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 470.10 Td (transition method prescribed in ) Tj ET Q q 0 0 0 rg BT 176.64 470.10 Td (ASU 2018-1) Tj ET Q q 0 0 0 rg BT 227.10 470.10 Td (1 or a modified retrospective approach at the beginning of the earliest comparative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.10 Td (period in the financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.10 Td (The Company will adopt the standard ef) Tj ET Q q 0 0 0 rg BT 210.89 438.10 Td (fective January 1, 2019 utilizing the optional transition method prescribed in ) Tj ET Q q 0 0 0 rg BT 519.15 438.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.10 Td (2018-1) Tj ET Q q 0 0 0 rg BT 77.96 426.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 87.78 426.10 Td (The Company intends to utilize the transition practical expedients, per ) Tj ET Q q 0 0 0 rg BT 370.76 426.10 Td (ASC 842-10-65-1) Tj ET Q q 0 0 0 rg BT 442.33 426.10 Td (1, that are permitted with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.10 Td (new standard when elected as a package. ) Tj ET Q q 0 0 0 rg BT 215.85 414.10 Td (The Company intends to utilize other available practical expedients, including the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.10 Td (election not to separate non-lease components and the election to use hindsight when determining the lease terms. Finally) Tj ET Q q 0 0 0 rg BT 535.33 402.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 Td (Company will make an accounting policy election that will not record leases with an initial term of 12 months or less \(short-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.10 Td (term leases\) on the balance sheet. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (The Company anticipates that the majority of its outstanding operating leases would be recognized as ROU assets and lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (liabilities upon adoption. ) Tj ET Q q 0 0 0 rg BT 151.66 346.10 Td (At adoption, the Company currently anticipates that it will recognize additional operating liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (approximately $22 million with corresponding ROU assets of the same amount based on the present value of the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (minimum rental payments. ) Tj ET Q q 0 0 0 rg BT 159.80 322.10 Td (The impact of this ) Tj ET Q q 0 0 0 rg BT 234.79 322.10 Td (ASU is non-cash in nature and will not af) Tj ET Q q 0 0 0 rg BT 400.68 322.10 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 474.55 322.10 Td (s cash position. ) Tj ET Q q 0 0 0 rg BT 540.76 322.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Company does not estimate a material impact to the consolidated results of operations or cash flows. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (CRITICAL) Tj ET Q q 0 0 0 rg BT 95.74 286.10 Td ( ) Tj ET Q q 0 0 0 rg BT 97.69 286.10 Td (ACCOUNTING ESTIMA) Tj ET Q q 0 0 0 rg BT 202.41 286.10 Td (TES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (Management) Tj ET Q q 0 0 0 rg BT 104.98 274.10 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 527.12 274.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 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 50.00 250.10 Td (United States of ) Tj ET Q q 0 0 0 rg BT 116.38 250.10 Td (America. ) Tj ET Q q 0 0 0 rg BT 155.63 250.10 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 50.00 238.10 Td (that af) Tj ET Q q 0 0 0 rg BT 75.08 238.10 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 50.00 226.10 Td (liabilities.Management evaluates 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 50.00 214.10 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 50.00 202.10 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 480.98 202.10 Td (Actual results may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 190.10 Td (fer from these estimates under dif) Tj ET Q q 0 0 0 rg BT 195.42 190.10 Td (ferent assumptions or conditions.) Tj ET Q q 0 0 0 rg BT 333.00 190.10 Td (There were no material changes to estimates or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (methodologies used to develop those estimates in 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 154.10 Td (s critical accounting estimates are identified below:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (Inventory V) Tj ET Q q 0 0 0 rg BT 95.82 130.10 Td (aluation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (The Company uses certain estimates and judgments to value inventory) Tj ET Q q 0 0 0 rg BT 331.78 118.10 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 50.00 106.10 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 94.10 Td (management) Tj ET Q q 0 0 0 rg BT 103.87 94.10 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 82.10 Td (parts, carrying values are adjusted.) Tj ET Q q 0 0 0 rg BT 193.65 82.10 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 70.10 Td (demand. If actual demand dif) Tj ET Q q 0 0 0 rg BT 167.27 70.10 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 58.10 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 46.10 Td () 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 /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Business Combinations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (The Company follows the guidance under F) Tj ET Q q 0 0 0 rg BT 225.33 730.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 246.73 730.10 Td (Accounting Standards Codification \(ASC\) ) Tj ET Q q 0 0 0 rg BT 427.63 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 433.04 730.10 Td (opic 805, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 472.75 730.10 Td (Business ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Combinations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.12 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 113.44 718.10 Td (The acquisition purchase price is allocated to the assets acquired and liabilities assumed based upon their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (respective fair values. ) Tj ET Q q 0 0 0 rg BT 142.28 706.10 Td (The Company shall report in its financial statements provisional amounts for the items for which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (accounting is incomplete. Goodwill is adjusted for any changes to provisional amounts made within the measurement period. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (The Company utilizes management estimates and an independent third-party valuation firm to assist in determining the fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (values of assets acquired and liabilities assumed. Such estimates and valuations require the Company to make significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (assumptions, including projections of future events and operating performance. ) Tj ET Q q 0 0 0 rg BT 371.95 658.10 Td (The Company has not made any material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (changes to the method of valuing fair values of assets acquired and liabilities assumed during the last three years.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.01 622.10 Td (rade Names and Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (According to F) Tj ET Q q 0 0 0 rg BT 109.80 610.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 131.21 610.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 152.98 610.10 Td (T) Tj ET Q q 0 0 0 rg BT 158.39 610.10 Td (opic 350,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 198.11 610.10 Td (Intangibles - Goodwill and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.99 610.10 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 50.00 598.10 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 521.88 598.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 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 50.00 574.10 Td (approaches.For indefinite-lived assets apart from goodwill, primarily trade names for the Company) Tj ET Q q 0 0 0 rg BT 451.18 574.10 Td (, if the fair value is less ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (than the carrying amount, an impairment char) Tj ET Q q 0 0 0 rg BT 232.81 562.10 Td (ge is recognized in an amount equal to that excess.) Tj ET Q q 0 0 0 rg BT 440.34 562.10 Td (The Company has not made ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 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 50.00 526.10 Td (In compliance with F) Tj ET Q q 0 0 0 rg BT 134.52 526.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 155.92 526.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 177.69 526.10 Td (T) Tj ET Q q 0 0 0 rg BT 183.10 526.10 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 50.00 514.10 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 50.00 502.10 Td (are operating segments or one level below) Tj ET Q q 0 0 0 rg BT 218.18 502.10 Td (, known as components, which can be aggregated for testing purposes.) Tj ET Q q 0 0 0 rg BT 504.87 502.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 490.10 Td (s goodwill is allocated to the North ) Tj ET Q q 0 0 0 rg BT 234.15 490.10 Td (America ) Tj ET Q q 0 0 0 rg BT 270.89 490.10 Td (W) Tj ET Q q 0 0 0 rg BT 279.53 490.10 Td (ater Systems, International ) Tj ET Q q 0 0 0 rg BT 388.76 490.10 Td (W) Tj ET Q q 0 0 0 rg BT 397.40 490.10 Td (ater) Tj ET Q q 0 0 0 rg BT 411.98 490.10 Td (, and Fueling Systems units, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (components within the North ) Tj ET Q q 0 0 0 rg BT 168.88 478.10 Td (America ) Tj ET Q q 0 0 0 rg BT 205.62 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 214.26 478.10 Td (ater Systems and International ) Tj ET Q q 0 0 0 rg BT 337.93 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 346.57 478.10 Td (ater reporting units can be aggregated. In 2017, as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (result of the Headwater acquisition, the Company added a Distribution reporting unit. ) Tj ET Q q 0 0 0 rg BT 394.74 466.10 Td (The Distribution reporting unit was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (subject to qualitative testing in the year of acquisition. In 2018, all reporting units were tested using the quantitative valuation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (approaches listed below) Tj ET Q q 0 0 0 rg BT 145.43 442.10 Td (. ) Tj ET Q q 0 0 0 rg BT 152.38 442.10 Td (As the Company) Tj ET Q q 0 0 0 rg BT 222.37 442.10 Td (s business model evolves, management will continue to evaluate its reporting units ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (and review the aggregation criteria.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 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 50.00 394.10 Td (combination of both the market value and income approaches. ) Tj ET Q q 0 0 0 rg BT 301.40 394.10 Td (The market value approach compares the reporting units) Tj ET Q q 0 0 0 rg BT 529.74 394.10 Td ( current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 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 532.73 382.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 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 50.00 358.10 Td (respective assets. ) Tj ET Q q 0 0 0 rg BT 121.18 358.10 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 50.00 346.10 Td (the ef) Tj ET Q q 0 0 0 rg BT 72.30 346.10 Td (fects of demand and competition. ) Tj ET Q q 0 0 0 rg BT 208.19 346.10 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 50.00 334.10 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 50.00 322.10 Td (the balance sheet as of the fiscal year ended 2018 was $248.7 million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (During the fourth quarter of 2018, 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 50.00 286.10 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 50.00 274.10 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 50.00 262.10 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 50.00 250.10 Td (in market data such as market capitalization.) Tj ET Q q 0 0 0 rg BT 232.43 250.10 Td (A) Tj ET Q q 0 0 0 rg BT 239.10 250.10 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 50.00 238.10 Td (would not have changed this determination.) Tj ET Q q 0 0 0 rg BT 229.78 238.10 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 50.00 226.10 Td (which, if actual experience varies, could result in material dif) Tj ET Q q 0 0 0 rg BT 295.00 226.10 Td (ferences in the requirements for impairment char) Tj ET Q q 0 0 0 rg BT 490.28 226.10 Td (ges.Further) Tj ET Q q 0 0 0 rg BT 540.15 226.10 Td (, an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 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 50.00 202.10 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 50.00 178.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 86.57 178.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Under the requirements of F) Tj ET Q q 0 0 0 rg BT 162.56 166.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 183.96 166.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 205.73 166.10 Td (T) Tj ET Q q 0 0 0 rg BT 211.14 166.10 Td (opic 740,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 250.86 166.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 287.43 166.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.20 166.10 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 50.00 154.10 Td (future tax consequences attributable to dif) Tj ET Q q 0 0 0 rg BT 217.81 154.10 Td (ferences between financial statement carrying amounts of existing assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 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 50.00 130.10 Td (apply to taxable income in the years in which those temporary dif) Tj ET Q q 0 0 0 rg BT 312.24 130.10 Td (ferences are expected to be recovered or settled. ) Tj ET Q q 0 0 0 rg BT 506.67 130.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 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 50.00 106.10 Td (suf) Tj ET Q q 0 0 0 rg BT 62.04 106.10 Td (ficient taxable income. ) Tj ET Q q 0 0 0 rg BT 158.21 106.10 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 94.10 Td (reversals of existing taxable temporary dif) Tj ET Q q 0 0 0 rg BT 218.93 94.10 Td (ferences, future taxable income exclusive of reversing temporary dif) Tj ET Q q 0 0 0 rg BT 492.24 94.10 Td (ferences and tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 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 82.10 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 70.10 Td (the Company will record a valuation allowance against the relevant deferred tax assets. ) 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 /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 742.10 Td (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 50.00 730.10 Td (multiple jurisdictions. ) Tj ET Q q 0 0 0 rg BT 142.59 730.10 Td (These jurisdictions have dif) Tj ET Q q 0 0 0 rg BT 253.22 730.10 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 50.00 718.10 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 50.00 706.10 Td (under) Tj ET Q q 0 0 0 rg BT 72.59 706.10 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 50.00 694.10 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 436.93 694.10 Td (ferent tax rates. ) Tj ET Q q 0 0 0 rg BT 503.66 694.10 Td (The final ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 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 50.00 670.10 Td (resolution of disputes arising from federal, state, and international tax audits. ) Tj ET Q q 0 0 0 rg BT 361.87 670.10 Td (Although the Company has recorded all income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (tax uncertainties in accordance with F) Tj ET Q q 0 0 0 rg BT 201.14 658.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 222.54 658.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 244.32 658.10 Td (T) Tj ET Q q 0 0 0 rg BT 249.73 658.10 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 50.00 646.10 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 50.00 634.10 Td (determining the Company) Tj ET Q q 0 0 0 rg BT 157.20 634.10 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 50.00 622.10 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 50.00 598.10 Td (Pension and Employee Benefit Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 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 50.00 574.10 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 50.00 562.10 Td (calculated using a full yield curve approach. ) Tj ET Q q 0 0 0 rg BT 231.69 562.10 Td (The change compared to the previous method resulted in dif) Tj ET Q q 0 0 0 rg BT 472.27 562.10 Td (ferent service and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (interest components of net periodic benefit cost in the 2016 fiscal year) Tj ET Q q 0 0 0 rg BT 330.75 550.10 Td (. Historically) Tj ET Q q 0 0 0 rg BT 384.81 550.10 Td (, the Company estimated these service and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 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 50.00 526.10 Td (benefit obligation at the beginning of the period. ) Tj ET Q q 0 0 0 rg BT 248.66 526.10 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 50.00 514.10 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 50.00 502.10 Td (curve rates. Market conditions have caused the weighted-average discount rate to move from 3.61 percent last year to 4.28 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (percent this year for the domestic pension plans and from 3.51 percent last year to 4.18 percent this year for the postretirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (health and life insurance plan. ) Tj ET Q q 0 0 0 rg BT 172.18 478.10 Td (A) Tj ET Q q 0 0 0 rg BT 178.85 478.10 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 50.00 466.10 Td (change of about $0.1 million to employee benefit expense and a change of about $4.0 million of liability) Tj ET Q q 0 0 0 rg BT 467.29 466.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 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 50.00 430.10 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 50.00 418.10 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 50.00 406.10 Td (rate of return on plan assets of 5.75 percent as of the fiscal year ended 2018. ) Tj ET Q q 0 0 0 rg BT 359.06 406.10 Td (A) Tj ET Q q 0 0 0 rg BT 365.73 406.10 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 50.00 394.10 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 50.00 370.10 Td (According to F) Tj ET Q q 0 0 0 rg BT 109.80 370.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 131.21 370.10 Td (ASC 715,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 173.16 370.10 Td (Compensation - Retir) Tj ET Q q 0 0 0 rg BT 258.89 370.10 Td (ement Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.48 370.10 Td (, settlement accounting is triggered when lump sum payouts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 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 398.75 358.10 Td (. During 2016, one of the Company) Tj ET Q q 0 0 0 rg BT 543.73 358.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 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 50.00 322.10 Td (F) Tj ET Q q 0 0 0 rg BT 54.82 322.10 Td (ACT) Tj ET Q q 0 0 0 rg BT 74.64 322.10 Td (ORS ) Tj ET Q q 0 0 0 rg BT 96.41 322.10 Td (THA) Tj ET Q q 0 0 0 rg BT 115.85 322.10 Td (T) Tj ET Q q 0 0 0 rg BT 121.78 322.10 Td ( MA) Tj ET Q q 0 0 0 rg BT 139.48 322.10 Td (Y) Tj ET Q q 0 0 0 rg BT 146.33 322.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.28 322.10 Td (AFFECT) Tj ET Q q 0 0 0 rg BT 185.33 322.10 Td ( FUTURE RESUL) Tj ET Q q 0 0 0 rg BT 259.97 322.10 Td (TS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 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 528.78 310.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 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 50.00 286.10 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 50.00 274.10 Td (expenses, and the ef) Tj ET Q q 0 0 0 rg BT 130.34 274.10 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 50.00 262.10 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 50.00 250.10 Td (plan, goal, tar) Tj ET Q q 0 0 0 rg BT 126.99 250.10 Td (get, strategy) Tj ET Q q 0 0 0 rg BT 184.09 250.10 Td (, and similar expressions or future or conditional verbs such as may) Tj ET Q q 0 0 0 rg BT 462.26 250.10 Td (, will, should, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (would, and could.) Tj ET Q q 0 0 0 rg BT 144.23 238.10 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 50.00 226.10 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 50.00 214.10 Td (are not guarantees of future performance. ) Tj ET Q q 0 0 0 rg BT 219.92 214.10 Td (Actual results may dif) Tj ET Q q 0 0 0 rg BT 308.33 214.10 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 50.00 202.10 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 540.70 202.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (business and industry) Tj ET Q q 0 0 0 rg BT 135.46 190.10 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 50.00 178.10 Td (channels, supply constraints, ef) Tj ET Q q 0 0 0 rg BT 175.07 178.10 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 50.00 166.10 Td (litigation, government and regulatory actions, the Company) Tj ET Q q 0 0 0 rg BT 291.61 166.10 Td (s accounting policies, and other risks, all as described in Item 1A) Tj ET Q q 0 0 0 rg BT 551.27 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (and Exhibit 99.1 of this Form 10-K.) Tj ET Q q 0 0 0 rg BT 198.33 154.10 Td (Any forward-looking statements included in this Form 10-K are based upon information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (presently available. ) Tj ET Q q 0 0 0 rg BT 132.56 142.10 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 50.00 130.10 Td (required by law) Tj ET Q q 0 0 0 rg BT 112.10 130.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (ITEM 7A. QUANTIT) Tj ET Q q 0 0 0 rg BT 142.32 94.10 Td (A) Tj ET Q q 0 0 0 rg BT 148.80 94.10 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 175.21 94.10 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 238.08 94.10 Td (A) Tj ET Q q 0 0 0 rg BT 244.56 94.10 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 344.04 94.10 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 379.42 94.10 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 426.74 94.10 Td ( RISK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 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 58.10 Td (commodity prices. ) Tj ET Q q 0 0 0 rg BT 129.25 58.10 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 46.10 Td (certain costs, revenue and borrowings being denominated in currencies other than one of the Company) Tj ET Q q 0 0 0 rg BT 463.48 46.10 Td (s subsidiaries functional ) 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 (currency) Tj ET Q q 0 0 0 rg BT 84.33 742.10 Td (. Similarly) Tj ET Q q 0 0 0 rg BT 128.40 742.10 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 505.62 742.10 Td (fect the cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (of financing. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (For) Tj ET Q q 0 0 0 rg BT 65.37 706.10 Td (eign Curr) Tj ET Q q 0 0 0 rg BT 107.12 706.10 Td (ency Exchange Rate Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 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 50.00 670.10 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 50.00 658.10 Td (settlement of third party and inter) Tj ET Q q 0 0 0 rg BT 183.93 658.10 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 50.00 646.10 Td (foreign currency denominated cash balances, and application of derivative instruments when appropriate. Based on the 2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (mix of foreign currencies, the Company estimates that a hypothetical strengthening of the US Dollar by about 2 percent would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (have reduced the Company) Tj ET Q q 0 0 0 rg BT 161.90 622.10 Td (s 2018 sales by about 1 percent. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 71.48 598.10 Td (est Rate Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 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 540.98 574.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (revolving credit agreement \(the Credit ) Tj ET Q q 0 0 0 rg BT 209.66 562.10 Td (Agreement\) and, through the third quarter of 2018, the New ) Tj ET Q q 0 0 0 rg BT 455.87 562.10 Td (Y) Tj ET Q q 0 0 0 rg BT 462.09 562.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 496.53 562.10 Td (Agreement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Borrowings under the Credit ) Tj ET Q q 0 0 0 rg BT 166.65 550.10 Td (Agreement may be made either at \(i\) a Eurocurrency rate based on LIBOR plus an applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (mar) Tj ET Q q 0 0 0 rg BT 65.37 538.10 Td (gin or \(ii\) an alternative base rate as defined in the Credit ) Tj ET Q q 0 0 0 rg BT 295.83 538.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 345.08 538.10 Td (Through the third quarter of 2018, borrowings under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (the New ) Tj ET Q q 0 0 0 rg BT 85.73 526.10 Td (Y) Tj ET Q q 0 0 0 rg BT 91.95 526.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 126.38 526.10 Td (Agreement had a floating interest rate using the one-month LIBOR plus a spread of 1.35 percent. During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (third quarter 2018, the Company issued and sold $75.0 million of fixed rate senior notes under the New ) Tj ET Q q 0 0 0 rg BT 466.21 514.10 Td (Y) Tj ET Q q 0 0 0 rg BT 472.43 514.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 506.87 514.10 Td (Agreement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (The proceeds from the issuance of the notes were used to pay of) Tj ET Q q 0 0 0 rg BT 306.40 502.10 Td (f the existing variable rate indebtedness. ) Tj ET Q q 0 0 0 rg BT 472.27 502.10 Td (The Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td ($76.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 490.10 Td ( borrowings at year) Tj ET Q q 0 0 0 rg BT 181.17 490.10 Td (-end 2018 under the Credit ) Tj ET Q q 0 0 0 rg BT 290.86 490.10 Td (Agreement and had $75.0 million outstanding under the New ) Tj ET Q q 0 0 0 rg BT 538.22 490.10 Td (Y) Tj ET Q q 0 0 0 rg BT 544.44 490.10 Td (ork ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Life ) Tj ET Q q 0 0 0 rg BT 68.60 478.10 Td (Agreement.) Tj ET Q q 0 0 0 rg BT 120.35 478.10 Td (The Company estimates that a hypothetical increase of 100 basis points in the LIBOR rate would have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (increased interest expense by $1.4 million during 2018. ) Tj ET Q q 0 0 0 rg BT 276.71 466.10 Td (The Company also has exposure to changes in interest rates in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (form of the fair value of outstanding fixed rate debt fluctuating in response to changing interest rates. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 99.90 430.10 Td (, LIBOR, the index administered by the Intercontinental Exchange, will be phased out after 2021. ) Tj ET Q q 0 0 0 rg BT 492.11 430.10 Td (The United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (States, using the analysis performed by the ) Tj ET Q q 0 0 0 rg BT 223.30 418.10 Td (ARRC \(Alternative Reference Rates Committee\), elected the Secured Overnight ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (Financing Rate \(SOFR\) as a broad measure of the cost of borrowing cash overnight collateralized by U.S. ) Tj ET Q q 0 0 0 rg BT 484.42 406.10 Td (T) Tj ET Q q 0 0 0 rg BT 490.18 406.10 Td (reasury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (Securities. ) Tj ET Q q 0 0 0 rg BT 94.25 394.10 Td (The New ) Tj ET Q q 0 0 0 rg BT 133.31 394.10 Td (Y) Tj ET Q q 0 0 0 rg BT 139.53 394.10 Td (ork Fed commenced publishing the SOFR rate daily beginning ) Tj ET Q q 0 0 0 rg BT 392.55 394.10 Td (April 3, 2018. ) Tj ET Q q 0 0 0 rg BT 450.98 394.10 Td (The Company is still ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (analyzing the potential impacts from changing from LIBOR to SOFR based rates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (Commodity Price Exposur) Tj ET Q q 0 0 0 rg BT 163.70 358.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Portions of the Company) Tj ET Q q 0 0 0 rg BT 153.05 334.10 Td (s business are exposed to volatility in the prices of certain commodities, such as copper) Tj ET Q q 0 0 0 rg BT 501.73 334.10 Td (, steel and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (aluminum, among others. ) Tj ET Q q 0 0 0 rg BT 154.53 322.10 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 50.00 310.10 Td (component parts. ) Tj ET Q q 0 0 0 rg BT 121.19 310.10 Td (W) Tj ET Q q 0 0 0 rg BT 129.83 310.10 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 531.78 310.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Company is prone to exposure as these contracts expire. Based on the 2018 use of commodities, the Company estimates that a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (hypothetical 10 percent adverse movement in prices for raw metal commodities would result in about a 1 percent decrease of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (gross mar) Tj ET Q q 0 0 0 rg BT 88.98 274.10 Td (gin as a percent of sales. ) 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 /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 0.9333333333333333 1 rg /GS0 gs 492.50 511.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 511.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 481.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 481.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 481.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 481.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 481.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 451.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 451.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 451.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 451.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 451.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 451.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 421.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 421.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 421.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 421.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 421.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 421.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 391.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 391.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 391.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 391.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 391.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 391.60 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 358.5 656.6 m 423.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 656.6 m 492.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 656.6 m 561.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 601.6 m 423.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 601.6 m 492.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 601.6 m 561.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 601.6 m 423.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 601.6 m 492.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 601.6 m 561.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 556.6 m 423.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 556.6 m 492.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 556.6 m 561.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 556.6 m 423.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 556.6 m 492.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 556.6 m 561.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 496.6 m 423.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 496.6 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 496.5 496.6 m 561.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 496.6 m 423.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 496.6 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 496.5 496.6 m 561.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 466.6 m 423.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 466.6 m 492.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 466.6 m 561.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 466.6 m 423.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 466.6 m 492.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 466.6 m 561.5 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 436.6 m 423.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 436.6 m 492.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 436.6 m 561.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 436.6 m 423.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 422.6 m 423.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 420.6 m 423.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 436.6 m 492.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 422.6 m 492.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 420.6 m 492.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 436.6 m 561.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 422.6 m 561.5 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 420.6 m 561.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 392.6 m 423.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 390.6 m 423.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 392.6 m 492.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 390.6 m 492.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 392.6 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 496.5 390.6 m 561.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 377.6 m 423.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 375.6 m 423.5 375.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 390.6 m 492.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 392.6 m 492.5 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 377.6 m 492.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 375.6 m 492.5 375.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 377.6 m 561.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 375.6 m 561.5 375.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 362.6 m 423.5 362.6 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 427.5 362.6 m 492.5 362.6 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 496.5 362.6 m 561.5 362.6 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 BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 661.27 Td (\(In thousands, except per share amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 661.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 661.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 661.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 621.27 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 621.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.65 621.27 Td (1,298,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 621.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 621.27 Td (1,124,909) 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 525.15 621.27 Td (949,856) 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 (865,763) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 606.27 Td (747,927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 606.27 Td (618,450) 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 (432,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 591.27 Td (376,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 591.27 Td (331,406) 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 (298,706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 576.27 Td (265,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 576.27 Td (219,934) 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 397.15 561.27 Td (1,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 561.27 Td (4,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 561.32 Td (\(598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 561.27 Td (\)) 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 (131,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 546.27 Td (107,228) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 546.27 Td (1) Tj ET Q q 0 0 0 rg BT 530.15 546.27 Td (12,070) 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 (\(9,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 531.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 531.32 Td (\(10,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 531.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 531.32 Td (\(8,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 531.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 516.27 Td (Other income/\(expense\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 516.32 Td (\(1,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 516.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 516.27 Td (6,656) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 516.32 Td (\(282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 516.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 501.27 Td (Foreign exchange income/\(expense\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.30 501.32 Td (\(706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 501.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 501.27 Td (1,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 501.27 Td (1,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 486.27 Td (Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 486.27 Td (120,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 486.27 Td (104,587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 486.27 Td (104,1) Tj ET Q q 0 0 0 rg BT 547.65 486.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 471.27 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 471.27 Td (14,890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 471.27 Td (25,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 471.27 Td (24,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 456.27 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 456.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 456.27 Td (105,517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 456.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 456.27 Td (78,593) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 456.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 456.27 Td (79,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 441.27 Td (Less: Net loss/\(income\) attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 441.27 Td (360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 441.32 Td (\(413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 441.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 441.32 Td (\(570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 441.27 Td (\)) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 426.27 Td (105,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 426.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 426.27 Td (78,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 426.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 426.27 Td (78,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 411.27 Td (Income per share:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 396.27 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 396.27 Td (2.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 396.27 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 396.27 Td (1.67) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 381.27 Td (2.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 381.27 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 381.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 381.27 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 366.27 Td (Dividends per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 366.27 Td (0.4675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 366.27 Td (0.4225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 366.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 366.27 Td (0.3975) 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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(Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 678.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 678.17 Td (76,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 678.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 678.17 Td (79,348) 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 (64,81) Tj ET Q q 0 0 0 rg BT 483.65 663.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 663.17 Td (63,887) 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 (2,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 648.17 Td (2,213) 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 456.15 633.17 Td (1) Tj ET Q q 0 0 0 rg BT 461.15 633.17 Td (1) Tj ET Q q 0 0 0 rg BT 466.15 633.17 Td (1,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 633.17 Td (100,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 618.17 Td (T) Tj ET Q q 0 0 0 rg BT 69.76 618.17 Td (otal current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 618.17 Td (255,857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 618.17 Td (245,901) 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 461.15 603.17 Td (94,379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 603.17 Td (125,596) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 588.17 Td (Income taxes payable non-current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 588.17 Td (10,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 588.17 Td (17,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 573.17 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 573.17 Td (28,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 573.17 Td (30,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 558.17 Td (Employee benefit plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 558.17 Td (38,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 558.17 Td (42,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 543.17 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 543.17 Td (17,934) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 543.17 Td (19,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 513.17 Td (Commitments and contingencies \(see Note 17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 513.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 513.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 483.17 Td (Redeemable noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 483.17 Td (518) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 483.17 Td (1,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 453.17 Td (Shareholders) Tj ET Q q 0 0 0 rg BT 107.17 453.17 Td ( equity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 437.17 Td (Common stock \(65,000 shares authorized, $.10 par value\) outstanding \(46,326 and 46,630,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 427.17 Td (respectively\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 427.17 Td (4,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 427.17 Td (4,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 412.17 Td (Additional capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 412.17 Td (257,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 412.17 Td (240,136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 397.17 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 397.17 Td (654,724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 397.17 Td (604,905) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 382.17 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 382.22 Td (\(183,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 382.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 382.22 Td (\(149,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 382.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 367.17 Td (T) Tj ET Q q 0 0 0 rg BT 69.41 367.17 Td (otal shareholders) Tj ET Q q 0 0 0 rg BT 140.03 367.17 Td ( equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 367.17 Td (733,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 367.17 Td (700,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 352.17 Td (Noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 352.17 Td (1,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 352.17 Td (1,964) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 337.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.76 337.17 Td (otal equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 337.17 Td (735,827) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 337.17 Td (702,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 322.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 322.17 Td (otal liabilities and equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 322.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 322.17 Td (1,182,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 322.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 322.17 Td (1,185,353) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.75 282.00 Td (See Notes to Consolidated Financial Statements.) 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1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 705.6 m 561.5 705.6 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 427.5 419.6 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 496.5 419.6 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 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 358.5 404.6 m 423.5 404.6 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 427.5 404.6 m 492.5 404.6 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 496.5 404.6 m 561.5 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 329.6 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 358.5 329.6 m 423.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 314.6 m 423.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 329.6 m 427.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 314.6 m 427.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 329.6 m 492.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 314.6 m 492.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 329.6 m 496.5 329.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 314.6 m 496.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 329.6 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 496.5 314.6 m 561.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 209.60000000000002 m 423.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 194.60000000000002 m 423.5 194.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 209.60000000000002 m 492.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 194.60000000000002 m 492.5 194.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 209.60000000000002 m 561.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 194.60000000000002 m 561.5 194.60000000000002 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 427.5 179.60000000000002 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 496.5 179.60000000000002 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 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 427.5 179.60000000000002 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 496.5 179.60000000000002 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 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 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 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 358.5 149.60000000000002 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 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 358.5 149.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 149.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 149.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 149.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 149.10000000000002 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 149.10000000000002 m BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 710.17 Td (\(In thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 710.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 710.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 710.17 Td (2016) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 674.27 Td (105,517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 674.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 674.27 Td (78,593) 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 (79,315) 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 (38,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 634.27 Td (38,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 634.27 Td (35,534) 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 (8,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 619.27 Td (7,109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 619.27 Td (6,889) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 604.27 Td (Income taxes-U.S. ) Tj ET Q q 0 0 0 rg BT 134.56 604.27 Td (T) Tj ET Q q 0 0 0 rg BT 140.22 604.27 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 209.60 604.27 Td (Act) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 604.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 604.27 Td (10,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 604.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 589.27 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 589.32 Td (\(5,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 589.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 589.32 Td (\(6,31) Tj ET Q q 0 0 0 rg BT 483.63 589.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 589.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 589.27 Td (2,978) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 574.27 Td (Loss on disposals of plant and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 574.27 Td (31) Tj ET Q q 0 0 0 rg BT 414.65 574.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 574.27 Td (1,572) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 574.27 Td (751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 559.27 Td (Gain on equity investment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 559.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 559.32 Td (\(5,165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 559.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 559.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 544.27 Td (Foreign exchange \(income\)/expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 544.27 Td (706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 544.32 Td (\(1,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 544.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 544.32 Td (\(1,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 544.27 Td (\)) 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 393.80 514.32 Td (\(8,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 514.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 514.27 Td (9,948) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 514.32 Td (\(21,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 514.27 Td (\)) 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 (\(4,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 499.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 499.32 Td (\(46,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 499.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 499.32 Td (\(7,636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 499.27 Td (\)) 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 397.15 484.27 Td (1,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 484.32 Td (\(1) Tj ET Q q 0 0 0 rg BT 466.13 484.32 Td (1,071) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 484.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 484.27 Td (1) Tj ET Q q 0 0 0 rg BT 535.15 484.27 Td (1,782) 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 393.80 469.32 Td (\(1,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 469.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 469.32 Td (\(2,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 469.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 469.27 Td (4,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 454.27 Td (Income taxes-U.S. ) Tj ET Q q 0 0 0 rg BT 140.56 454.27 Td (T) Tj ET Q q 0 0 0 rg BT 146.22 454.27 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 215.60 454.27 Td (Act) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 454.32 Td (\(6,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 454.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 454.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 454.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 439.27 Td (Employee benefit plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 439.32 Td (\(2,291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 439.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 439.32 Td (\(2,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 439.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 439.32 Td (\(1,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 439.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 424.27 Td (Other) Tj ET Q q 0 0 0 rg BT 86.37 424.27 Td (, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 424.27 Td (1,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 424.32 Td (\(4,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 424.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 424.27 Td (4,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 409.27 Td (Net cash flows from operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 409.27 Td (128,435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 409.27 Td (66,754) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 409.27 Td (1) Tj ET Q q 0 0 0 rg BT 530.15 409.27 Td (15,374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 394.27 Td (Cash flows from investing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 379.27 Td (Additions to property) Tj ET Q q 0 0 0 rg BT 143.78 379.27 Td (, plant, and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 379.32 Td (\(22,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 379.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 379.32 Td (\(33,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 379.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 379.32 Td (\(39,136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 379.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 364.27 Td (Proceeds from sale of property) Tj ET Q q 0 0 0 rg BT 180.97 364.27 Td (, plant, and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 364.27 Td (724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 364.27 Td (21) Tj ET Q q 0 0 0 rg BT 483.65 364.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 364.27 Td (6,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 349.27 Td (Cash paid for acquisitions, net of cash acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 349.32 Td (\(44,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 349.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 349.32 Td (\(51,783) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 349.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 349.32 Td (\(1,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 349.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 334.27 Td (Other) Tj ET Q q 0 0 0 rg BT 80.57 334.27 Td (, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 334.27 Td (387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 334.27 Td (355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 334.27 Td (346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 319.27 Td (Net cash flows from investing 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Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 274.32 Td (\(191,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 274.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 274.32 Td (\(95,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 274.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 259.27 Td (Proceeds from issuance of common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 259.27 Td (8,999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 259.27 Td (4,497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 259.27 Td (5,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 244.27 Td (Purchases of common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 244.32 Td (\(34,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 244.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 244.32 Td (\(3,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 244.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 244.32 Td (\(7,422) Tj ET Q BT /F1 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 526.60 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 494.60 102.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 494.60 50.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 494.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 494.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 494.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 494.60 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 494.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 494.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 494.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 494.60 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 494.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 494.60 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 494.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 494.60 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 462.60 102.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 462.60 50.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 462.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 462.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 462.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 462.60 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 462.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 462.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 462.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 462.60 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 462.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 462.60 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 462.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 462.60 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 427.60 102.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 427.60 50.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 427.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 427.60 42.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 427.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 427.60 45.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 427.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 427.60 42.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 427.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 427.60 57.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 427.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 427.60 56.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 427.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 427.60 58.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 381.60 102.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 381.60 50.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 381.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 381.60 42.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 381.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 381.60 45.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 381.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 381.60 42.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 381.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 381.60 57.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 381.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 381.60 56.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 381.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 381.60 58.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 337.60 102.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 337.60 50.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 337.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 337.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 337.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 337.60 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 337.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 337.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 337.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 337.60 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 337.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 337.60 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 337.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 337.60 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 305.60 102.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 305.60 50.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 305.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 305.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 305.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 305.60 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 305.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 305.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 305.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 305.60 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 305.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 305.60 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 305.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 305.60 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 273.60 102.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 273.60 50.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 273.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 273.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 273.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 273.60 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 273.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 273.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 273.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 273.60 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 273.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 273.60 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 273.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 273.60 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 241.60 102.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 241.60 50.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 241.60 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 241.60 42.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 241.60 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 241.60 45.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 241.60 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 241.60 42.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 241.60 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 241.60 57.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 241.60 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 241.60 56.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 241.60 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 241.60 58.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 194.60 102.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 194.60 50.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 194.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 194.60 42.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 194.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 194.60 45.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 194.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 194.60 42.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 194.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 194.60 57.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 194.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 194.60 56.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 194.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 194.60 58.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 140.60 102.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 140.60 50.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 140.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 140.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 140.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 140.60 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 140.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 140.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 140.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 140.60 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 140.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 140.60 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 140.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 140.60 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 67.50 108.60 102.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 169.50 108.60 50.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 108.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 108.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 108.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 108.60 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 108.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 108.60 42.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 108.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 108.60 57.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.50 108.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 108.60 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 108.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 108.60 58.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 706.6 m 219.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 706.6 m 223.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 706.6 m 265.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 706.6 m 269.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 706.6 m 314.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 706.6 m 318.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 706.6 m 360.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 706.6 m 364.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 706.6 m 421.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.5 706.6 m 425.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 706.6 m 481.5 706.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 663.6 m 219.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 663.6 m 265.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 663.6 m 314.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 663.6 m 360.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 663.6 m 421.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 663.6 m 481.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 663.6 m 543.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 663.6 m 219.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 663.6 m 265.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 663.6 m 314.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 663.6 m 360.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 663.6 m 421.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 663.6 m 481.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 663.6 m 543.5 663.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 478.6 m 219.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 478.6 m 265.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 478.6 m 314.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 478.6 m 360.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 478.6 m 421.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 478.6 m 481.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 478.6 m 543.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 273.6 m 219.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 273.6 m 265.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 273.6 m 314.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 273.6 m 360.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 273.6 m 421.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 273.6 m 481.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 273.6 m 543.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 108.60000000000002 m 219.5 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 93.60000000000002 m 219.5 93.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 91.60000000000002 m 219.5 91.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 108.60000000000002 m 265.5 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 93.60000000000002 m 265.5 93.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 91.60000000000002 m 265.5 91.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 108.60000000000002 m 314.5 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 93.60000000000002 m 314.5 93.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 91.60000000000002 m 314.5 91.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 108.60000000000002 m 360.5 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 93.60000000000002 m 360.5 93.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 91.60000000000002 m 360.5 91.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 108.60000000000002 m 421.5 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 93.60000000000002 m 421.5 93.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 91.60000000000002 m 421.5 91.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 108.60000000000002 m 481.5 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 93.60000000000002 m 481.5 93.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 91.60000000000002 m 481.5 91.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 108.60000000000002 m 543.5 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 93.60000000000002 m 543.5 93.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 91.60000000000002 m 543.5 91.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.25 710.85 Td (T) Tj ET Q q 0 0 0 rg BT 286.86 710.85 Td (otal Shareholders) Tj ET Q q 0 0 0 rg BT 344.71 710.85 Td ( 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 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.25 651.85 Td (46,219) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.25 651.85 Td (4,622) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.25 651.85 Td (216,472) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.25 651.85 Td (498,214) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.60 651.85 Td (\(161,608) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 651.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 651.85 Td (1,765) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.00 651.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 651.85 Td (6,856) 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 (78,745) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.30 635.85 Td (577) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 635.85 Td (\(7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 635.85 Td (\)) 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 397.60 615.85 Td (\(8,234) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 615.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.60 615.85 Td (\(26) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 615.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 615.85 Td (\(199) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 615.85 Td (\)) 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) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 587.60 Td (expense of $499) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.60 589.85 Td (\(10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 589.85 Td (\)) 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 336.60 569.85 Td (\(1,002) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 569.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 569.85 Td (1,002) 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 (\($0.3975/share\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 546.85 Td (\(18,464) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 546.85 Td (\)) 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 (\(673) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 530.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 514.85 Td (Common stock issued) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.30 514.85 Td (274) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 514.85 Td (27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 514.85 Td (5,216) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 498.85 Td (Share-based compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.30 498.85 Td (125) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 498.85 Td (13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 498.85 Td (6,876) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 482.85 Td (Common stock repurchased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.60 482.85 Td (\(242) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.30 482.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.60 482.85 Td (\(24) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.30 482.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.60 482.85 Td (\(7,398) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 482.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 466.85 Td (Balance as of year end 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.25 466.85 Td (46,376) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 466.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.25 466.85 Td (4,638) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.00 466.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.25 466.85 Td (228,564) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.00 466.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.25 466.85 Td (550,095) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.00 466.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.60 466.85 Td (\(169,852) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 466.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.00 466.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 466.85 Td (1,643) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.00 466.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 466.85 Td (7,652) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 450.85 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.25 450.85 Td (78,180) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.30 450.85 Td (661) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 450.85 Td (\(248) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 450.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 438.55 Td (Currency translation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 430.55 Td (adjustment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.30 431.85 Td (18,601) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.30 431.85 Td (164) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 431.85 Td (\(828) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 431.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 419.55 Td (Minimum pension liability) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 411.55 Td (adjustment, net of tax) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 403.55 Td (expense of $534) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 404.85 Td (2,204) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 392.55 Td (Adjustments to Impo) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 384.55 Td (redemption value) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.30 385.85 Td (27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 385.85 Td (\(27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 385.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 371.85 Td (Purchase of redeemable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 363.85 Td (noncontrolling shares) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.60 363.85 Td (\(5,047) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 363.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 349.85 Td (Dividends on common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 341.85 Td (\($0.4225/share\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 341.85 Td (\(19,785) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 341.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 325.85 Td (Noncontrolling dividend) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.60 325.85 Td (\(504) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 325.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 309.85 Td (Common stock issued) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.30 309.85 Td (256) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 309.85 Td (25) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 309.85 Td (4,472) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 293.85 Td (Share-based compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.30 293.85 Td (86) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.30 293.85 Td (9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 293.85 Td (7,100) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 277.85 Td (Common stock repurchased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 205.60 277.85 Td (\(88) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.30 277.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.60 277.85 Td (\(9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.30 277.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.60 277.85 Td (\(3,612) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 277.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 261.85 Td (Balance as of year end 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.25 261.85 Td (46,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 261.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.25 261.85 Td (4,663) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.00 261.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.25 261.85 Td (240,136) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.00 261.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.25 261.85 Td (604,905) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.00 261.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.60 261.85 Td (\(149,047) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 261.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.00 261.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 261.85 Td (1,964) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.00 261.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 261.85 Td (1,502) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 245.85 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.25 245.85 Td (105,877) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.30 245.85 Td (701) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.60 245.85 Td (\(1,061) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 245.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 233.55 Td (Currency translation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 225.55 Td (adjustment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.60 226.85 Td (\(34,751) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 226.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.60 226.85 Td (\(49) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 226.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 226.85 Td (77) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 214.55 Td (Minimum pension liability) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 206.55 Td (adjustment, net of tax) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 198.55 Td (expense of $307) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.30 198.85 Td (779) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 184.85 Td (Dividends on common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 176.85 Td (\($0.4675/share\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 176.85 Td (\(21,951) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 176.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 160.85 Td (Noncontrolling dividend) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.60 160.85 Td (\(661) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.30 160.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 144.85 Td (Common stock issued) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.30 144.85 Td (405) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 144.85 Td (40) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 144.85 Td (8,959) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 128.85 Td (Share-based compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 204.30 128.85 Td (103) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 254.30 128.85 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.25 128.85 Td (8,440) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 112.85 Td (Common stock repurchased) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.60 112.85 Td (\(812) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 216.30 112.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.60 112.85 Td (\(81) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.30 112.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.60 112.85 Td (\(34,107) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.30 112.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 70.00 96.85 Td (Balance as of year end 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.25 96.85 Td (46,326) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 226.00 96.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.25 96.85 Td (4,632) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.00 96.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.25 96.85 Td (257,535) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.00 96.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.25 96.85 Td (654,724) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.00 96.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.60 96.85 Td (\(183,019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 96.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.00 96.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 96.85 Td (1,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.00 96.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.30 96.85 Td (518) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.75 69.10 Td (See Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 75 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 76 0 R>> endobj 76 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (37) 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.) 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 136 661.9833984375 m 314.8671875 661.9833984375 l s q 0 0 1 rg BT 136.00 663.32 Td (Summary of Significant ) Tj ET Q q 0 0 1 rg BT 234.05 663.32 Td (Accounting Policies) 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 52.00 647.42 Td (Note 2.) 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 136 646.9833984375 m 251.810546875 646.9833984375 l s q 0 0 1 rg BT 136.00 648.32 Td (Accounting Pronouncements) 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 52.00 632.42 Td (Note 3.) 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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 136 511.9833984375 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 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 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 340.658203125 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 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 52.00 452.42 Td (Note 15.) 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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 136 421.9833984375 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 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 322.591796875 406.9833984375 l s q 0 0 1 rg BT 136.00 408.32 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 52.00 392.42 Td (Note 19.) 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/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 (63) 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 (65) 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 (66) 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 (66) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (38) 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) Tj ET Q q 0 0 0 rg BT 238.66 682.25 Td (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 took ef) Tj ET Q q 0 0 0 rg BT 206.51 670.25 Td (fect on January 1, 2017. For fiscal years 2016 and prior) Tj ET Q q 0 0 0 rg BT 430.22 670.25 Td (, the Company) Tj ET Q q 0 0 0 rg BT 491.60 670.25 Td (s fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (ended on the Saturday nearest December 31. ) Tj ET Q q 0 0 0 rg BT 233.36 658.25 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, 2018) 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 (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.20 646.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.03 646.25 Td (52 weeks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.52 646.25 Td (\), and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.78 646.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.37 646.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.20 646.25 Td (52 weeks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.69 646.25 Td (\), and referred to as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 634.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 634.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 634.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.94 634.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.94 634.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 189.60 634.25 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 based upon their respective fair values at the acquisition date. ) Tj ET Q q 0 0 0 rg BT 454.42 562.25 Td (The Company utilizes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (management estimates and inputs from an independent third-party valuation firm to assist in determining these fair values. ) Tj ET Q q 0 0 0 rg BT 544.97 550.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (excess of the acquisition price over estimated fair values is recorded as goodwill. Goodwill is adjusted for any changes to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (acquisition date fair value amounts made within the measurement period. ) Tj ET Q q 0 0 0 rg BT 347.69 526.25 Td (Acquisition-related transaction costs are recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (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 promised goods or services are transferred to customers in an amount that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ) Tj ET Q q 0 0 0 rg BT 495.24 478.25 Td (The promise in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (a contract to transfer goods or services to a customer represents a performance obligation. ) Tj ET Q q 0 0 0 rg BT 414.13 466.25 Td (The Company typically sells its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (products to customers by purchase order and does not have any additional performance obligations included in contracts to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (customers other than the shipment of the products. ) Tj ET Q q 0 0 0 rg BT 257.00 442.25 Td (Therefore, the Company allocates the transaction price based on a single ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (performance obligation. ) Tj ET Q q 0 0 0 rg BT 148.39 430.25 Td (The Company typically ships products FOB shipping at which point control of the products passes to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (the customers. ) Tj ET Q q 0 0 0 rg BT 110.08 418.25 Td (The Company considers the performance obligation satisfied and recognizes revenue at a point in time, the time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (of shipment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 382.25 Td (s products may include routine assurance-type warranties which do not qualify as separate performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (obligations. In the event that significant post-shipment obligations were to exist for the Company) Tj ET Q q 0 0 0 rg BT 444.10 370.25 Td (s products, revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (recognition would be deferred until the performance obligations were satisfied. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.25 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 516.62 338.25 Td (fect, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.25 Td (related historical data, and experience.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 306.25 Td (Shipping and Handling Costs--) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.65 306.25 Td (Shipping and handling costs are considered activities required to fulfill the Company) Tj ET Q q 0 0 0 rg BT 521.07 306.25 Td (s promise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.25 Td (to transfer goods, and do not qualify as a separate performance obligation. Shipping and handling costs are recorded as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.25 Td (component of cost of sales.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 258.25 Td (Research and Development Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.26 258.25 Td (--The Company) Tj ET Q q 0 0 0 rg BT 266.64 258.25 Td (s research and development activities are char) Tj ET Q q 0 0 0 rg BT 450.25 258.25 Td (ged to expense in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.25 Td (period incurred. ) Tj ET Q q 0 0 0 rg BT 118.68 246.25 Td (The Company incurred expenses of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.62 246.25 Td ($22.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.51 246.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.29 246.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.29 246.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.29 246.25 Td ($20.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.18 246.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.96 246.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.96 246.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.90 246.25 Td ($21.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 234.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.67 234.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.67 234.25 Td ( related to research and development.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 210.25 Td (Cash and Cash Equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.20 210.25 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 50.00 198.25 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 50.00 174.25 Td (Fair V) Tj ET Q q 0 0 0 rg BT 76.40 174.25 Td (alue of Financial Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.60 174.25 Td (--Financial ) Tj ET Q q 0 0 0 rg BT 246.42 174.25 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 377.04 174.25 Td (ASB\) ) Tj ET Q q 0 0 0 rg BT 406.21 174.25 Td (Accounting Standards Codification ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.25 Td (\(ASC\) ) Tj ET Q q 0 0 0 rg BT 87.31 162.25 Td (T) Tj ET Q q 0 0 0 rg BT 92.72 162.25 Td (opic 820, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 132.44 162.25 Td (Fair V) Tj ET Q q 0 0 0 rg BT 157.71 162.25 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 207.61 162.25 Td (ements and Disclosur) Tj ET Q q 0 0 0 rg BT 293.90 162.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.23 162.25 Td (, provides guidance for defining, measuring, and disclosing fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.25 Td (value within an established framework and hierarchy) Tj ET Q q 0 0 0 rg BT 261.49 150.25 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 50.00 138.25 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 50.00 126.25 Td (orderly transaction between market participants on the measurement date. ) Tj ET Q q 0 0 0 rg BT 349.98 126.25 Td (The standard established a fair value hierarchy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.25 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 50.00 102.25 Td (measuring fair value. ) Tj ET Q q 0 0 0 rg BT 139.51 102.25 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 78.25 Td (Level 1 Quoted prices for identical assets and liabilities in active markets;) 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 BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 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 50.00 730.10 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 50.00 718.10 Td (drivers are observablein active markets; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Level 3 ) Tj ET Q q 0 0 0 rg BT 90.08 694.10 Td (V) Tj ET Q q 0 0 0 rg BT 96.20 694.10 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 50.00 682.10 Td (unobservable.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Accounts Receivable, Earned Discounts, and ) Tj ET Q q 0 0 0 rg BT 237.13 658.10 Td (Allowance for Uncollectible ) Tj ET Q q 0 0 0 rg BT 354.25 658.10 Td (Accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.59 658.10 Td (--Accounts receivable are stated at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (estimated net realizable value. ) Tj ET Q q 0 0 0 rg BT 175.50 646.10 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 50.00 634.10 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 50.00 622.10 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 50.00 610.10 Td (receivable, and periodic credit evaluations of customers) Tj ET Q q 0 0 0 rg BT 275.55 610.10 Td ( financial condition are reviewed.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.67 586.10 Td (-- Inventories are stated at the lower of cost or market. ) Tj ET Q q 0 0 0 rg BT 321.40 586.10 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 50.00 574.10 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 50.00 562.10 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 (and management) Tj ET Q q 0 0 0 rg BT 120.81 550.10 Td (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 50.00 538.10 Td (obsolete parts. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Property) Tj ET Q q 0 0 0 rg BT 85.18 514.10 Td (, Plant, and Equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.03 514.10 Td (--Property) Tj ET Q q 0 0 0 rg BT 221.48 514.10 Td (, plant, and equipment are stated at historical cost.) Tj ET Q q 0 0 0 rg BT 426.51 514.10 Td (The Company capitalizes certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 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 50.00 490.10 Td (internal use, which are included in property) Tj ET Q q 0 0 0 rg BT 223.46 490.10 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 50.00 478.10 Td (straight line basis over the following estimated useful lives:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 455.60 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 455.60 126.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 425.60 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 425.60 126.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 445.27 Td (Land improvement and buildings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.50 445.27 Td (10-40 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 430.27 Td (Machinery and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 430.27 Td (5-10 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 415.27 Td (Software) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 415.27 Td (3-7 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 400.27 Td (Furniture and fixtures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 400.27 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 50.00 372.10 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 50.00 360.10 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 489.13 360.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.10 Td (reviews its property) Tj ET Q q 0 0 0 rg BT 128.77 348.10 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 50.00 336.10 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 50.00 324.10 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 50.00 312.10 Td (impairment would be recognized for the dif) Tj ET Q q 0 0 0 rg BT 224.20 312.10 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 50.00 288.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 288.10 Td (s depreciation expense was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.78 288.10 Td ($29.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.67 288.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.67 288.10 Td ($29.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.56 288.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 288.10 Td ($27.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.39 288.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.17 288.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.17 288.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.17 288.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.17 288.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.11 288.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.11 288.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 276.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (Goodwill and Other Intangible ) Tj ET Q q 0 0 0 rg BT 179.10 252.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.66 252.10 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 50.00 240.10 Td (the North ) Tj ET Q q 0 0 0 rg BT 90.00 240.10 Td (America ) Tj ET Q q 0 0 0 rg BT 126.74 240.10 Td (W) Tj ET Q q 0 0 0 rg BT 135.38 240.10 Td (ater Systems, International ) Tj ET Q q 0 0 0 rg BT 244.61 240.10 Td (W) Tj ET Q q 0 0 0 rg BT 253.25 240.10 Td (ater) Tj ET Q q 0 0 0 rg BT 267.83 240.10 Td (, Fueling Systems, and Distribution units. In compliance with F) Tj ET Q q 0 0 0 rg BT 523.47 240.10 Td (ASB ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 71.77 228.10 Td (T) Tj ET Q q 0 0 0 rg BT 77.18 228.10 Td (opic 350, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 116.90 228.10 Td (Intangibles - Goodwill and Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.78 228.10 Td (, the Company has evaluated the aggregation criteria and determined that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.10 Td (individual components within the North ) Tj ET Q q 0 0 0 rg BT 211.93 216.10 Td (America ) Tj ET Q q 0 0 0 rg BT 248.67 216.10 Td (W) Tj ET Q q 0 0 0 rg BT 257.31 216.10 Td (ater Systems and International ) Tj ET Q q 0 0 0 rg BT 380.98 216.10 Td (W) Tj ET Q q 0 0 0 rg BT 389.62 216.10 Td (ater reporting units, respectively) Tj ET Q q 0 0 0 rg BT 518.37 216.10 Td (, can be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.10 Td (aggregated in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.64 204.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.64 204.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.10 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 50.00 168.10 Td (combination of both the income and market valuation approaches.) Tj ET Q q 0 0 0 rg BT 319.46 168.10 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 50.00 156.10 Td (revenue, expenses, and cash flows discounted to present value. ) Tj ET Q q 0 0 0 rg BT 306.13 156.10 Td (The market valuation approach estimates fair value using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.10 Td (market multipliers of various financial measures compared to a set of comparable public companies. ) Tj ET Q q 0 0 0 rg BT 456.35 144.10 Td (The fair value calculated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.10 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 413.10 132.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.10 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 96.10 Td (above approach. ) Tj ET Q q 0 0 0 rg BT 120.34 96.10 Td (The second step of testing as outlined in F) Tj ET Q q 0 0 0 rg BT 288.46 96.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 309.86 96.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 331.64 96.10 Td (T) Tj ET Q q 0 0 0 rg BT 337.05 96.10 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 84.10 Td (impairment loss. ) Tj ET Q q 0 0 0 rg BT 121.48 84.10 Td (The amount of impairment is determined by comparing the implied fair value of the reporting unit) Tj ET Q q 0 0 0 rg BT 517.20 84.10 Td (s goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.10 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 72.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.10 Td (would allocate the fair value to all of the reporting unit) Tj ET Q q 0 0 0 rg BT 272.15 60.10 Td (s assets and liabilities, including any unrecognized intangible assets, in ) Tj ET Q endstream endobj 81 0 obj <> 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 /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (a hypothetical analysis that would calculate the implied fair value of goodwill.) Tj ET Q q 0 0 0 rg BT 368.61 742.10 Td (The Company would record an impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (char) Tj ET Q q 0 0 0 rg BT 67.03 730.10 Td (ge for the dif) Tj ET Q q 0 0 0 rg BT 118.77 730.10 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 50.00 706.10 Td (Beginning in 2017, the Company completed its annual goodwill impairment test during the fourth quarter) Tj ET Q q 0 0 0 rg BT 472.02 706.10 Td (, using balances as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (October 1. ) Tj ET Q q 0 0 0 rg BT 94.16 694.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 144.06 694.10 Td (, in 2017 as a result of the Headwater acquisitions, the Company added the Distribution reporting unit. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (The Distribution reporting unit was subject to qualitative testing in the year of acquisition. ) Tj ET Q q 0 0 0 rg BT 415.85 682.10 Td (The Company did not recognize a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (goodwill impairment as a result of the qualitative assessment. In 2018, all reporting units were tested using the quantitative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (valuation approaches described above. ) Tj ET Q q 0 0 0 rg BT 206.70 658.10 Td (The Company will test goodwill for impairment more frequently if warranted by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (triggering events that indicate potential impairment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 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 50.00 610.10 Td (fourth quarter of each year) Tj ET Q q 0 0 0 rg BT 156.21 610.10 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 50.00 598.10 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 510.78 598.10 Td (The income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (approach estimates fair value based upon future revenue and estimated royalty rates. ) Tj ET Q q 0 0 0 rg BT 392.46 586.10 Td (The fair value calculated for indefinite ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (lived intangible assets is considered a Level 3 measurement within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 411.72 574.10 Td (. ) Tj ET Q q 0 0 0 rg BT 418.67 574.10 Td (An indication of impairment exists ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (if the carrying value of the trade names is higher than the fair value. ) Tj ET Q q 0 0 0 rg BT 326.38 562.10 Td (The Company would record an impairment char) Tj ET Q q 0 0 0 rg BT 518.91 562.10 Td (ge for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 550.10 Td (ference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 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 50.00 514.10 Td (estimated useful lives.) Tj ET Q q 0 0 0 rg BT 143.96 514.10 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 49.50 503.60 357.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 503.60 155.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 473.60 357.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 473.60 155.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 493.27 Td (Patents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.70 493.27 Td (17 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 478.27 Td (T) Tj ET Q q 0 0 0 rg BT 57.76 478.27 Td (echnology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.70 478.27 Td (15 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 463.27 Td (Customer relationships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.00 463.27 Td (13-20 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 448.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 448.27 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 50.00 420.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 420.10 Td (arranty Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 420.10 Td (--The Company provides warranties on most of its products. ) Tj ET Q q 0 0 0 rg BT 382.66 420.10 Td (The warranty terms vary but are generally) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.42 420.10 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.10 408.10 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.88 408.10 Td (5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.48 408.10 Td ( from date of manufacture or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.20 408.10 Td (1 year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.91 408.10 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.69 408.10 Td (5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.28 408.10 Td ( from date of installation. Provisions for estimated expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (related to product warranty are made at the time products are sold or when specific warranty issues are identified. ) Tj ET Q q 0 0 0 rg BT 506.31 396.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (estimates are established using historical information about the nature, frequency) Tj ET Q q 0 0 0 rg BT 373.69 384.10 Td (, and average cost of warranty claims. ) Tj ET Q q 0 0 0 rg BT 527.61 384.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.10 Td (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 50.00 360.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 80.92 360.10 Td (The Company believes that the warranty reserve is appropriate; however) Tj ET Q q 0 0 0 rg BT 371.25 360.10 Td (, actual claims incurred could dif) Tj ET Q q 0 0 0 rg BT 502.68 360.10 Td (fer from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.10 Td (original estimates, requiring adjustments to the reserve.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 324.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 88.80 324.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.13 324.10 Td (--Income taxes are accounted for in accordance with F) Tj ET Q q 0 0 0 rg BT 324.06 324.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 345.46 324.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 367.23 324.10 Td (T) Tj ET Q q 0 0 0 rg BT 372.64 324.10 Td (opic 740, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 412.36 324.10 Td (Income T) Tj ET Q q 0 0 0 rg BT 448.93 324.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.70 324.10 Td (.Under this guidance, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.10 Td (deferred tax assets and liabilities are determined based on the dif) Tj ET Q q 0 0 0 rg BT 308.61 312.10 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 50.00 300.10 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 411.08 300.10 Td (fect for the year in which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 288.10 Td (ferences are expected to reverse. ) Tj ET Q q 0 0 0 rg BT 195.94 288.10 Td (V) Tj ET Q q 0 0 0 rg BT 202.05 288.10 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 50.00 276.10 Td (amounts expected to be realized.) Tj ET Q q 0 0 0 rg BT 185.60 276.10 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 50.00 264.10 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 50.00 252.10 Td (return.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (Defined Benefit Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.10 228.10 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 50.00 216.10 Td (liabilities based on management estimates and consultation with actuaries. ) Tj ET Q q 0 0 0 rg BT 349.74 216.10 Td (The Company incorporates estimates and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.10 Td (assumptions of future plan service costs, future interest costs on projected benefit obligations, rates of compensation increases, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.10 Td (employee turnover rates, anticipated mortality rates, expected investment returns on plan assets, asset allocation assumptions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.10 Td (plan assets, and other factors.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 156.10 Td (Earnings Per Common Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.53 156.10 Td (--Basic and diluted earnings per share are computed and disclosed in accordance with F) Tj ET Q q 0 0 0 rg BT 522.50 156.10 Td (ASB ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 71.77 144.10 Td (T) Tj ET Q q 0 0 0 rg BT 77.18 144.10 Td (opic 260, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 116.90 144.10 Td (Earnings Per Shar) Tj ET Q q 0 0 0 rg BT 191.53 144.10 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.97 144.10 Td (. ) Tj ET Q q 0 0 0 rg BT 203.29 144.10 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 50.00 132.10 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 50.00 120.10 Td (recorded at redemption value. ) Tj ET Q q 0 0 0 rg BT 174.21 120.10 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 50.00 108.10 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 96.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 81.94 96.10 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 96.10 Td (ferent from other common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.10 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 72.10 Td (of the net earnings for the period had been distributed. ) Tj ET Q q 0 0 0 rg BT 271.97 72.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 331.68 72.10 Td (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 60.10 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 48.10 Td (earnings with common shareholders. Basic earnings per common share excludes dilution and is calculated by dividing net ) Tj ET Q 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 /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 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 50.00 730.10 Td (earnings per common share is calculated by dividing net earnings allocable to common shares by the weighted-average number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (of common shares outstanding for the period, as adjusted for the potential dilutive ef) Tj ET Q q 0 0 0 rg BT 388.07 718.10 Td (fect of non-participating share-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (awards.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.74 682.10 Td (ranslation of Foreign Currency Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.61 682.10 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 50.00 670.10 Td (other than the U.S. dollar are translated at year end exchange rates. ) Tj ET Q q 0 0 0 rg BT 322.11 670.10 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 50.00 658.10 Td (rates in ef) Tj ET Q q 0 0 0 rg BT 89.24 658.10 Td (fect during the respective period. ) Tj ET Q q 0 0 0 rg BT 225.58 658.10 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 50.00 646.10 Td (U.S. dollars are included as a component of other comprehensive income. ) Tj ET Q q 0 0 0 rg BT 350.00 646.10 Td (T) Tj ET Q q 0 0 0 rg BT 355.76 646.10 Td (ransaction gains and losses that arise from shorter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (term exchange rate fluctuations are included in the Foreign exchange income/\(expense\) line within the Company) Tj ET Q q 0 0 0 rg BT 513.16 634.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (consolidated statements of income, as incurred.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Significant Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.07 598.10 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 50.00 586.10 Td (the United States requires management to make significant estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 421.94 586.10 Td (fect the reported amounts of assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 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 50.00 562.10 Td (of expenses during the reporting periods. Significant estimates and assumptions by management af) Tj ET Q q 0 0 0 rg BT 447.50 562.10 Td (fect inventory valuation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (warranty) Tj ET Q q 0 0 0 rg BT 84.89 550.10 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 50.00 538.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Although the Company regularly assesses these estimates, actual results could materially dif) Tj ET Q q 0 0 0 rg BT 419.17 526.10 Td (fer) Tj ET Q q 0 0 0 rg BT 429.72 526.10 Td (. ) Tj ET Q q 0 0 0 rg BT 437.04 526.10 Td (The Company bases its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 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 50.00 490.10 Td (2. ) Tj ET Q q 0 0 0 rg BT 59.45 490.10 Td (ACCOUNTING PRONOUNCEMENTS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Adoption of New ) Tj ET Q q 0 0 0 rg BT 121.58 478.10 Td (Accounting Standards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (In March 2017, the Financial ) Tj ET Q q 0 0 0 rg BT 168.31 466.10 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 298.93 466.10 Td (ASB\) issued ) Tj ET Q q 0 0 0 rg BT 355.60 466.10 Td (Accounting Standards Update \(ASU\) 2017-07, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Compensation - Retir) Tj ET Q q 0 0 0 rg BT 135.73 454.10 Td (ement Benefits \(T) Tj ET Q q 0 0 0 rg BT 204.79 454.10 Td (opic 715\): Impr) Tj ET Q q 0 0 0 rg BT 267.74 454.10 Td (oving the Pr) Tj ET Q q 0 0 0 rg BT 316.81 454.10 Td (esentation of Net Periodic Pension Cost and Net Periodic ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Postr) Tj ET Q q 0 0 0 rg BT 71.30 442.10 Td (etir) Tj ET Q q 0 0 0 rg BT 84.81 442.10 Td (ement Benefit Cost. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.85 442.10 Td (This ) Tj ET Q q 0 0 0 rg BT 187.58 442.10 Td (ASU requires entities to present only the service cost component of net periodic benefit cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (as an operating expense \(consistent with the presentation of other employee compensation costs\). ) Tj ET Q q 0 0 0 rg BT 443.87 430.10 Td (The other components of net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (periodic benefit cost are to be presented as a non-operating expense. ) Tj ET Q q 0 0 0 rg BT 325.26 418.10 Td (The Company adopted ) Tj ET Q q 0 0 0 rg BT 418.30 418.10 Td (ASU 2017-07 during the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (quarter ended March 31, 2018, on a retrospective basis. ) Tj ET Q q 0 0 0 rg BT 274.19 406.10 Td (The non-service cost component of net periodic benefit costs for fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (years ended December 31, 2017 and December 31, 2016 was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.39 394.10 Td ($0.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.28 394.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.72 394.10 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.61 394.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 527.28 394.10 Td (. ) Tj ET Q q 0 0 0 rg BT 534.59 394.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Company has included current year non-service costs as non-operating expense. ) Tj ET Q q 0 0 0 rg BT 372.77 382.10 Td (The adoption of this pronouncement did not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (have a material impact to the Company) Tj ET Q q 0 0 0 rg BT 209.95 370.10 Td (s consolidated financial position, results of operations, or cash flows. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (In May 2014, the F) Tj ET Q q 0 0 0 rg BT 126.20 346.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 175.10 346.10 Td (ASU 2014-09, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 235.93 346.10 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 278.59 346.10 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 408.25 346.10 Td (opic 606\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.29 346.10 Td ( as modified by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (subsequently issued ) Tj ET Q q 0 0 0 rg BT 131.67 334.10 Td (ASUs 2015-14, 2016-08, 2016-10, 2016-12 and 2016-20 \(collectively ) Tj ET Q q 0 0 0 rg BT 413.57 334.10 Td (ASU 2014-09\). ) Tj ET Q q 0 0 0 rg BT 480.06 334.10 Td (T) Tj ET Q q 0 0 0 rg BT 485.47 334.10 Td (opic 606 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (supersedes the revenue recognition requirements in ) Tj ET Q q 0 0 0 rg BT 257.15 322.10 Td (Accounting Standards Codification \(ASC\) ) Tj ET Q q 0 0 0 rg BT 438.05 322.10 Td (T) Tj ET Q q 0 0 0 rg BT 443.46 322.10 Td (opic 605, Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Recognition \(T) Tj ET Q q 0 0 0 rg BT 114.56 310.10 Td (opic 605\), and requires the recognition of revenue when promised goods or services are transferred to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (customers in an amount that reflects the considerations to which the entity expects to be entitled to in exchange for those goods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (or services. ) Tj ET Q q 0 0 0 rg BT 100.36 286.10 Td (The Company made the accounting policy election allowed by ) Tj ET Q q 0 0 0 rg BT 352.78 286.10 Td (ASC 606-10-32-2A) Tj ET Q q 0 0 0 rg BT 431.40 286.10 Td ( to continue to present sales tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (on a net basis, consistent with current guidance in ) Tj ET Q q 0 0 0 rg BT 251.06 274.10 Td (ASC 605-45-15-2\(e\). ) Tj ET Q q 0 0 0 rg BT 341.43 274.10 Td (The guidance permits two methods of adoption: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (retrospectively to each prior reporting period presented \(full retrospective method\), or retrospectively with the cumulative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 250.10 Td (fect of initially applying the guidance recognized at the date of initial application \(modified retrospective method\). ) Tj ET Q q 0 0 0 rg BT 520.58 250.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (Company adopted ) Tj ET Q q 0 0 0 rg BT 124.99 238.10 Td (ASU 2014-09 during the first quarter ended March 31, 2018 utilizing the modified retrospective approach. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (The adoption of this ) Tj ET Q q 0 0 0 rg BT 132.77 226.10 Td (ASU did not have a material impact to the Company) Tj ET Q q 0 0 0 rg BT 345.78 226.10 Td (s condensed consolidated financial position, results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (operations, or cash flow; however) Tj ET Q q 0 0 0 rg BT 185.39 214.10 Td (, the adoption of this ) Tj ET Q q 0 0 0 rg BT 269.83 214.10 Td (ASU requires the Company to disclose suf) Tj ET Q q 0 0 0 rg BT 440.18 214.10 Td (ficient information to enable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (contracts with customers. ) Tj ET Q q 0 0 0 rg BT 154.24 190.10 Td (The Company completed its assessment of the additional disclosure requirements with the following ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (results:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 158.10 Td (Disaggr) Tj ET Q q 0 0 0 rg BT 118.41 158.10 Td (egation of Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 136.10 Td (The adoption of this ) Tj ET Q q 0 0 0 rg BT 168.77 136.10 Td (ASU requires the Company to disaggregate revenue into categories to depict how the nature, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 124.10 Td (timing, and uncertainty of revenue and cash flows are af) Tj ET Q q 0 0 0 rg BT 310.73 124.10 Td (fected by economic factors. ) Tj ET Q q 0 0 0 rg BT 425.68 124.10 Td (As evidenced in Footnote 16 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 112.10 Td (Segment and Geographic Information, the Company) Tj ET Q q 0 0 0 rg BT 298.72 112.10 Td (s business consists of the ) Tj ET Q q 0 0 0 rg BT 401.04 112.10 Td (W) Tj ET Q q 0 0 0 rg BT 409.68 112.10 Td (ater) Tj ET Q q 0 0 0 rg BT 424.27 112.10 Td (, Fueling, Distribution, and Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 100.10 Td (segments. ) Tj ET Q q 0 0 0 rg BT 128.04 100.10 Td (The Other segment includes unallocated corporate expenses and intersegment eliminations. ) Tj ET Q q 0 0 0 rg BT 495.42 100.10 Td (A) Tj ET Q q 0 0 0 rg BT 502.09 100.10 Td ( reconciliation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 88.10 Td (of disaggregated revenue to segment revenue as well as ) Tj ET Q q 0 0 0 rg BT 310.45 88.10 Td (W) Tj ET Q q 0 0 0 rg BT 319.09 88.10 Td (ater Segment revenue by geographical regions is provided in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 76.10 Td (Footnote 16, consistent with how the Company evaluates financial performance.) 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 /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Performance Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 720.10 Td (A) Tj ET Q q 0 0 0 rg BT 92.67 720.10 Td ( performance obligation is a promise in a contract to transfer a distinct good or service to the customer) Tj ET Q q 0 0 0 rg BT 501.58 720.10 Td (, and is the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 708.10 Td (unit of account in ) Tj ET Q q 0 0 0 rg BT 158.21 708.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 179.98 708.10 Td (T) Tj ET Q q 0 0 0 rg BT 185.39 708.10 Td (opic 606. ) Tj ET Q q 0 0 0 rg BT 227.43 708.10 Td (The Company typically sells its products to customers by purchase order) Tj ET Q q 0 0 0 rg BT 518.08 708.10 Td (, and does ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 696.10 Td (not have any additional performance obligations included in contracts to customers other than the shipment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 684.10 Td (products. ) Tj ET Q q 0 0 0 rg BT 125.26 684.10 Td (The Company records net sales revenues after discounts at the time of sale based on specific discount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 672.10 Td (programs in ef) Tj ET Q q 0 0 0 rg BT 144.13 672.10 Td (fect, related historical data, and experience. ) Tj ET Q q 0 0 0 rg BT 320.25 672.10 Td (The Company typically ships products FOB shipping at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 660.10 Td (which point control of the products passes to the customers. ) Tj ET Q q 0 0 0 rg BT 327.35 660.10 Td (Any shipping and handling fees prior to shipment are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 648.10 Td (considered activities required to fulfill the Company) Tj ET Q q 0 0 0 rg BT 298.16 648.10 Td (s promise to transfer goods, and do not qualify as a separate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 636.10 Td (performance obligation. Shipping and handling costs are recorded as a component of cost of sales. ) Tj ET Q q 0 0 0 rg BT 483.67 636.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 533.57 636.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 624.10 Td (Company of) Tj ET Q q 0 0 0 rg BT 135.54 624.10 Td (fers assurance-type warranties \(vs. service warranties\) which do not qualify as a separate performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 612.10 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 131.37 612.10 Td (Therefore, the Company allocates the transaction price based on a single performance obligation. ) Tj ET Q q 0 0 0 rg BT 524.93 612.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 600.10 Td (Company of) Tj ET Q q 0 0 0 rg BT 135.54 600.10 Td (fers normal and customary trade terms to its customers, no significant part of which is of an extended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 588.10 Td (nature. ) Tj ET Q q 0 0 0 rg BT 118.30 588.10 Td (The Company considers the performance obligation satisfied and recognizes revenue at a point in time, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 576.10 Td (time of shipment. ) Tj ET Q q 0 0 0 rg BT 161.09 576.10 Td (The Company does not generally allow for refunds or returns to customers and does not have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 564.10 Td (outstanding performance obligations for contracts with original durations of greater than one year at the end of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 552.10 Td (reporting period. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 532.10 Td (Contract Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 510.10 Td (The Company does not have outstanding contracts with an original term greater than one year; therefore, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 498.10 Td (expenses costs to obtain a contract as incurred.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Accounting Standards Issued But Not ) Tj ET Q q 0 0 0 rg BT 208.48 466.10 Td (Y) Tj ET Q q 0 0 0 rg BT 213.48 466.10 Td (et ) Tj ET Q q 0 0 0 rg BT 222.82 466.10 Td (Adopted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 454.10 Td (August 2018, the F) Tj ET Q q 0 0 0 rg BT 136.21 454.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 185.11 454.10 Td (ASU 2018-14, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 245.94 454.10 Td (Compensation-Retir) Tj ET Q q 0 0 0 rg BT 326.67 454.10 Td (ement Benefits-Defined Benefit Plans-General \(T) Tj ET Q q 0 0 0 rg BT 522.92 454.10 Td (opic ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (715-20\): Disclosur) Tj ET Q q 0 0 0 rg BT 126.01 442.10 Td (e Framework-Changes to the Disclosur) Tj ET Q q 0 0 0 rg BT 283.96 442.10 Td (e Requir) Tj ET Q q 0 0 0 rg BT 317.74 442.10 Td (ements for Defined Benefit Plans, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.93 442.10 Td (which modifies the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. ) Tj ET Q q 0 0 0 rg BT 473.59 430.10 Td (The amendments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (remove disclosures that no longer are considered cost beneficial, including the estimated amounts in accumulated other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (comprehensive income expected to be recognized as components of net periodic expense over the next fiscal year) Tj ET Q q 0 0 0 rg BT 504.26 406.10 Td (. ) Tj ET Q q 0 0 0 rg BT 509.08 406.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (amendments clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (the reasons for significant gains and losses related to change in the benefit obligation for the period. ) Tj ET Q q 0 0 0 rg BT 453.87 382.10 Td (The ) Tj ET Q q 0 0 0 rg BT 471.36 382.10 Td (ASU should be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (applied retrospectively and is ef) Tj ET Q q 0 0 0 rg BT 177.55 370.10 Td (fective for interim and annual periods beginning after December 15, 2020. ) Tj ET Q q 0 0 0 rg BT 477.54 370.10 Td (The Company is still ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (determining the date of adoption for this ) Tj ET Q q 0 0 0 rg BT 213.57 358.10 Td (ASU but does not anticipate the adoption to have a material impact on the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (consolidated financial position, results of operations, or cash flows.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 322.10 Td (August 2018, the F) Tj ET Q q 0 0 0 rg BT 136.21 322.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 185.11 322.10 Td (ASU 2018-15, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 245.94 322.10 Td (Goodwill and Other - Internal-Use Softwar) Tj ET Q q 0 0 0 rg BT 419.17 322.10 Td (e \(Subtopic 350-40\): Customer) Tj ET Q q 0 0 0 rg BT 543.69 322.10 Td () Tj ET Q q 0 0 0 rg BT 545.73 322.10 Td (s ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Accounting for Implementation Costs Incurr) Tj ET Q q 0 0 0 rg BT 227.39 310.10 Td (ed in a Cloud Computing ) Tj ET Q q 0 0 0 rg BT 330.82 310.10 Td (Arrangement That Is a Service Contract. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.63 310.10 Td (This ) Tj ET Q q 0 0 0 rg BT 516.36 310.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software \(and hosting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (arrangements that include internal-use software license\). ) Tj ET Q q 0 0 0 rg BT 278.33 274.10 Td (The ) Tj ET Q q 0 0 0 rg BT 295.83 274.10 Td (ASU should be applied either retrospectively or prospectively to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (all implementation costs incurred after the date of adoption and is ef) Tj ET Q q 0 0 0 rg BT 322.78 262.10 Td (fective for interim and annual periods beginning after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (December 15, 2019 with early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 254.48 250.10 Td (The Company is still determining the date of adoption for this ) Tj ET Q q 0 0 0 rg BT 504.17 250.10 Td (ASU but does ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (not anticipate the adoption to have a material impact on the Company's consolidated financial position, results of operations, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (cash flows.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (In February 2018, the F) Tj ET Q q 0 0 0 rg BT 143.96 202.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.87 202.10 Td (ASU 2018-02, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 253.70 202.10 Td (Reclassification of Certain T) Tj ET Q q 0 0 0 rg BT 368.06 202.10 Td (ax Effects fr) Tj ET Q q 0 0 0 rg BT 416.01 202.10 Td (om ) Tj ET Q q 0 0 0 rg BT 430.55 202.10 Td (Accumulated Other ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (Compr) Tj ET Q q 0 0 0 rg BT 77.41 190.10 Td (ehensive Income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.26 190.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.58 190.10 Td (This ) Tj ET Q q 0 0 0 rg BT 168.31 190.10 Td (ASU was issued following the enactment of the U.S. ) Tj ET Q q 0 0 0 rg BT 381.71 190.10 Td (T) Tj ET Q q 0 0 0 rg BT 387.12 190.10 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 456.57 190.10 Td (Act of 2017 \("T) Tj ET Q q 0 0 0 rg BT 519.66 190.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 531.04 190.10 Td (Act"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (and permits entities to elect a reclassification from accumulated other comprehensive income to retained earnings for stranded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (tax ef) Tj ET Q q 0 0 0 rg BT 72.30 166.10 Td (fects resulting from the ) Tj ET Q q 0 0 0 rg BT 167.65 166.10 Td (T) Tj ET Q q 0 0 0 rg BT 173.06 166.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 184.45 166.10 Td (Act. ) Tj ET Q q 0 0 0 rg BT 203.71 166.10 Td (The ) Tj ET Q q 0 0 0 rg BT 221.20 166.10 Td (ASU is ef) Tj ET Q q 0 0 0 rg BT 260.46 166.10 Td (fective for interim and annual periods beginning after December 15, 2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (with early adoption permitted, and may be applied either at the beginning of the period of adoption or retrospectively to each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (period in which the ef) Tj ET Q q 0 0 0 rg BT 137.57 142.10 Td (fect of the change in the U.S. federal corporate income tax rate in the ) Tj ET Q q 0 0 0 rg BT 416.15 142.10 Td (T) Tj ET Q q 0 0 0 rg BT 421.56 142.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 432.95 142.10 Td (Act is recognized. ) Tj ET Q q 0 0 0 rg BT 507.74 142.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (Company will adopt the standard ef) Tj ET Q q 0 0 0 rg BT 192.84 130.10 Td (fective January 1, 2019. ) Tj ET Q q 0 0 0 rg BT 293.46 130.10 Td (The Company will not reclassify tax ef) Tj ET Q q 0 0 0 rg BT 449.35 130.10 Td (fects stranded in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (accumulated other comprehensive loss. ) Tj ET Q q 0 0 0 rg BT 211.62 118.10 Td (As such, there is no impact on the Company) Tj ET Q q 0 0 0 rg BT 391.31 118.10 Td (s consolidated financial position, results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (of operations, and cash flows as a result of the adoption of the ) Tj ET Q q 0 0 0 rg BT 299.94 106.10 Td (ASU. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 86.10 Td (In January 2017, the F) Tj ET Q q 0 0 0 rg BT 138.96 86.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 187.87 86.10 Td (ASU 2017-04, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 248.70 86.10 Td (Intangibles - Goodwill and Other \(T) Tj ET Q q 0 0 0 rg BT 393.06 86.10 Td (opic 350\): Simplifying the T) Tj ET Q q 0 0 0 rg BT 504.35 86.10 Td (est for ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 74.10 Td (Goodwill Impairment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.89 74.10 Td (ASU 2017-04 removes step two from the goodwill impairment test and instead requires an entity to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 62.10 Td (recognize a goodwill impairment char) Tj ET Q q 0 0 0 rg BT 201.98 62.10 Td (ge for the amount by which the goodwill carrying amount exceeds the reporting unit's fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 50.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 78.97 50.10 Td (The ) Tj ET Q q 0 0 0 rg BT 96.47 50.10 Td (ASU is ef) Tj ET Q q 0 0 0 rg BT 135.73 50.10 Td (fective on a prospective basis for interim and annual periods beginning after December 15, 2019 with ) 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 (early adoption permitted. ) Tj ET Q q 0 0 0 rg BT 158.12 742.10 Td (The Company is still determining the date of adoption for this ) Tj ET Q q 0 0 0 rg BT 407.80 742.10 Td (ASU but does not anticipate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (adoption to have a material impact on the Company's consolidated financial position, results of operations, or cash flows. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 143.96 706.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.87 706.10 Td (ASU 2016-02, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 253.70 706.10 Td (Leases \(T) Tj ET Q q 0 0 0 rg BT 291.40 706.10 Td (opic 842) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.11 706.10 Td (\), which supersedes existing guidance on accounting for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (leases found in ) Tj ET Q q 0 0 0 rg BT 111.93 694.10 Td (Accounting Standards Codification \(ASC\) ) Tj ET Q q 0 0 0 rg BT 292.83 694.10 Td (T) Tj ET Q q 0 0 0 rg BT 298.24 694.10 Td (opic 840. ) Tj ET Q q 0 0 0 rg BT 340.27 694.10 Td (This ) Tj ET Q q 0 0 0 rg BT 360.00 694.10 Td (ASU requires lessees to present right-of-use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (\(ROU\) assets and lease liabilities on the balance sheet for all leases with terms longer than 12 months. In July 2018, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (F) Tj ET Q q 0 0 0 rg BT 54.82 670.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 103.72 670.10 Td (ASU 2018-10, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 164.56 670.10 Td (Codification Impr) Tj ET Q q 0 0 0 rg BT 236.13 670.10 Td (ovements to T) Tj ET Q q 0 0 0 rg BT 290.76 670.10 Td (opic 842, Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.70 670.10 Td ( and ) Tj ET Q q 0 0 0 rg BT 376.58 670.10 Td (ASU 2018-1) Tj ET Q q 0 0 0 rg BT 427.05 670.10 Td (1, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 437.05 670.10 Td (Leases \(T) Tj ET Q q 0 0 0 rg BT 474.74 670.10 Td (opic 842\): T) Tj ET Q q 0 0 0 rg BT 523.26 670.10 Td (ar) Tj ET Q q 0 0 0 rg BT 531.78 670.10 Td (geted ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Impr) Tj ET Q q 0 0 0 rg BT 69.07 658.10 Td (ovements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.28 658.10 Td (. ) Tj ET Q q 0 0 0 rg BT 110.73 658.10 Td (ASU 2018-10 clarifies certain aspects of ) Tj ET Q q 0 0 0 rg BT 275.49 658.10 Td (T) Tj ET Q q 0 0 0 rg BT 280.90 658.10 Td (opic 842, including the rate implicit in the lease, impairment of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (net investment in the lease, lessee reassessment of lease classification, lessor reassessment of lease term and purchase options, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (variable payments that depend on an index or rate and certain transition adjustments, among other things. ) Tj ET Q q 0 0 0 rg BT 473.22 634.10 Td (ASU 2018-1) Tj ET Q q 0 0 0 rg BT 523.68 634.10 Td (1 allows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (entities adopting ) Tj ET Q q 0 0 0 rg BT 118.33 622.10 Td (ASU 2016-02 to choose an additional \(and optional\) transition method of adoption, under which an entity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (initially applies the new lease standard at the adoption date and recognizes a cumulative-ef) Tj ET Q q 0 0 0 rg BT 412.73 610.10 Td (fect adjustment to the opening ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (balance of retained earnings in the period of adoption. ) Tj ET Q q 0 0 0 rg BT 268.26 598.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 318.16 598.10 Td (, ) Tj ET Q q 0 0 0 rg BT 322.61 598.10 Td (ASU 2018-1) Tj ET Q q 0 0 0 rg BT 373.07 598.10 Td (1 allows lessors to not separate non-lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (components from the associated lease component if certain conditions are met. ) Tj ET Q q 0 0 0 rg BT 367.49 586.10 Td (The guidance is to be applied using either the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (transition method prescribed in ) Tj ET Q q 0 0 0 rg BT 176.64 574.10 Td (ASU 2018-1) Tj ET Q q 0 0 0 rg BT 227.10 574.10 Td (1 or a modified retrospective approach at the beginning of the earliest comparative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (period in the financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.10 Td (The Company will adopt the standard ef) Tj ET Q q 0 0 0 rg BT 210.89 542.10 Td (fective January 1, 2019 utilizing the optional transition method prescribed in ) Tj ET Q q 0 0 0 rg BT 519.15 542.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.10 Td (2018-1) Tj ET Q q 0 0 0 rg BT 77.96 530.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 87.78 530.10 Td (The Company intends to utilize the transition practical expedients, per ) Tj ET Q q 0 0 0 rg BT 370.76 530.10 Td (ASC 842-10-65-1) Tj ET Q q 0 0 0 rg BT 442.33 530.10 Td (1, that are permitted with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.10 Td (new standard when elected as a package. ) Tj ET Q q 0 0 0 rg BT 215.85 518.10 Td (The Company intends to utilize other available practical expedients, including the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 506.10 Td (election not to separate non-lease components and the election to use hindsight when determining the lease terms. Finally) Tj ET Q q 0 0 0 rg BT 535.33 506.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 494.10 Td (Company will make an accounting policy election that will not record leases with an initial term of 12 months or less \(short-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.10 Td (term leases\) on the balance sheet. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.10 Td (The Company anticipates that the majority of its outstanding operating leases would be recognized as ROU assets and lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.10 Td (liabilities upon adoption. ) Tj ET Q q 0 0 0 rg BT 151.66 450.10 Td (At adoption, the Company currently anticipates that it will recognize additional operating liabilities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 438.10 Td ($22 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.65 438.10 Td ( with corresponding ROU assets of the same amount based on the present value of the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.10 Td (minimum rental payments. ) Tj ET Q q 0 0 0 rg BT 159.80 426.10 Td (The impact of this ) Tj ET Q q 0 0 0 rg BT 234.79 426.10 Td (ASU is non-cash in nature and will not af) Tj ET Q q 0 0 0 rg BT 400.68 426.10 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 474.55 426.10 Td (s cash position. ) Tj ET Q q 0 0 0 rg BT 540.76 426.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.10 Td (Company does not estimate a material impact to the consolidated results of operations or cash flows. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 Td (3. ) Tj ET Q q 0 0 0 rg BT 59.45 390.10 Td (ACQUISITIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.10 Td (During the third quarter ended September 30, 2018, the Company acquired, in separate transactions, substantially all of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.10 Td (assets of the Stationary Power Division \(SPD\) of Midtronics, Inc., and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.29 366.10 Td (100 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.21 366.10 Td ( of the ownership interest in Industrias ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.10 Td (Rotor Pump S.A. \(Industrias Rotor Pump\), located in the United States and ) Tj ET Q q 0 0 0 rg BT 361.35 354.10 Td (Ar) Tj ET Q q 0 0 0 rg BT 371.72 354.10 Td (gentina, respectively) Tj ET Q q 0 0 0 rg BT 453.82 354.10 Td (. Neither of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (acquisitions were material individually or in the aggregate, and the combined preliminary purchase price was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td ($37 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.39 330.10 Td (. ) Tj ET Q q 0 0 0 rg BT 101.21 330.10 Td (The operating results of the two businesses from their respective dates of acquisition through December 31, 2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (were not material to the Company as a whole. SPD of) Tj ET Q q 0 0 0 rg BT 267.55 318.10 Td (fers a variety of products to users in the electrical substation monitoring, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (data center and mobile telecommunications markets. ) Tj ET Q q 0 0 0 rg BT 262.43 306.10 Td (Annual net sales for SPD are estimated to be less than one percent of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.10 Td (consolidated net sales and the fair value of the acquired assets are estimated to be less than one percent of consolidated total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (assets. Industrias Rotor Pump is the leading provider of water pumping equipment in ) Tj ET Q q 0 0 0 rg BT 394.12 282.10 Td (Ar) Tj ET Q q 0 0 0 rg BT 404.49 282.10 Td (gentina. ) Tj ET Q q 0 0 0 rg BT 440.87 282.10 Td (Annual net sales of Industrias ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td (Rotor Pump are estimated to be less than one percent of consolidated net sales and the fair value of the acquired assets are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.10 Td (estimated to be less than three percent of consolidated total assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.10 Td (The preliminary identifiable intangible assets recognized in the separate transactions were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.36 234.10 Td ($17 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.75 234.10 Td (, and consist primarily of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.10 Td (customer relationships, which will be amortized utilizing the straight-line method over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 222.10 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.80 222.10 Td ( - ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.13 222.10 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.13 222.10 Td ( years. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (The preliminary goodwill of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.08 200.10 Td ($14.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.98 200.10 Td ( resulting from the separate acquisitions consists primarily of the benefits of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.10 Td (complementary product of) Tj ET Q q 0 0 0 rg BT 155.89 188.10 Td (ferings and expanded geographical presence. Goodwill was recorded in the Fueling and ) Tj ET Q q 0 0 0 rg BT 508.65 188.10 Td (W) Tj ET Q q 0 0 0 rg BT 517.29 188.10 Td (ater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.10 Td (segments \(see Note 7\), and only a portion \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.46 176.10 Td ($4.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.35 176.10 Td (\) is expected to be deductible for tax purposes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (The Company has not presented separate results of operations since closing or combined pro forma financial information of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Company and the acquired interests since the beginning of 2018, as the results of operations for these acquisitions are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (immaterial. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (Prior to the acquisition of the ) Tj ET Q q 0 0 0 rg BT 168.87 106.10 Td (Ar) Tj ET Q q 0 0 0 rg BT 179.24 106.10 Td (gentina entity the economy in ) Tj ET Q q 0 0 0 rg BT 300.05 106.10 Td (Ar) Tj ET Q q 0 0 0 rg BT 310.42 106.10 Td (gentina was classified as highly inflationary) Tj ET Q q 0 0 0 rg BT 485.56 106.10 Td (. Beginning from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (the date of acquisition, the Company will apply the requisite accounting for highly inflationary economies, and the functional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (currency of the entity will be the U.S. dollar) Tj ET Q q 0 0 0 rg BT 226.06 82.10 Td (. Monetary assets and liabilities will be remeasured into U.S. dollars using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (exchange rates as of the latest balance sheet date while non-monetary assets and liabilities will be remeasured using historical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (exchange rates. Remeasurement adjustments will be included in foreign exchange gain / \(loss\) on the consolidated statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (of income. ) 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 (During the first quarter ended March 31, 2018, the Company acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.97 742.10 Td (100 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.90 742.10 Td ( of the ownership interests of Lansing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Michigan-based ) Tj ET Q q 0 0 0 rg BT 116.74 730.10 Td (V) Tj ET Q q 0 0 0 rg BT 122.86 730.10 Td (alley Farms Supply) Tj ET Q q 0 0 0 rg BT 199.98 730.10 Td (, Inc. \("V) Tj ET Q q 0 0 0 rg BT 236.27 730.10 Td (alley Farms"\), for a purchase price of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.33 730.10 Td ($9.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.22 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 504.54 730.10 Td (V) Tj ET Q q 0 0 0 rg BT 510.65 730.10 Td (alley Farms ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (is a professional groundwater distributor operating four locations in the State of Michigan and one in the State of Indiana. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (V) Tj ET Q q 0 0 0 rg BT 56.11 706.10 Td (alley Farms was acquired to serve customers in this region of the United States as part of the Company) Tj ET Q q 0 0 0 rg BT 470.46 706.10 Td (s Distribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Segment, which is a collection of professional groundwater equipment distributors. ) Tj ET Q q 0 0 0 rg BT 387.80 694.10 Td (The Company has not presented separate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (results of operations since closing or combined pro forma financial information of the Company and the acquired interest since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (the beginning of 2018, as the results of operations for this acquisition is immaterial. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.10 Td (During the second quarter of 2017, the Company redeemed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.93 650.10 Td (10 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.85 650.10 Td ( of the noncontrolling interest of Impo, a ) Tj ET Q q 0 0 0 rg BT 496.91 650.10 Td (T) Tj ET Q q 0 0 0 rg BT 502.67 650.10 Td (urkish ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 638.10 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 90.46 638.10 Td (, increasing the Company) Tj ET Q q 0 0 0 rg BT 195.43 638.10 Td (s ownership to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.26 638.10 Td (100 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.19 638.10 Td ( for approximately ) Tj ET Q q 0 0 0 rg BT 379.93 638.10 Td (T) Tj ET Q q 0 0 0 rg BT 385.68 638.10 Td (urkish Lira \(TR) Tj ET Q q 0 0 0 rg BT 447.90 638.10 Td (Y\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.95 638.10 Td (17.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.84 638.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.84 638.10 Td ($5.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 626.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 626.10 Td ( at the then current exchange rate. ) Tj ET Q q 0 0 0 rg BT 218.92 626.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.96 626.10 Td (10 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.89 626.10 Td ( redemption value was calculated using a specified formula and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 614.10 Td (resulted in a reduction of the carrying value of ) Tj ET Q q 0 0 0 rg BT 237.80 614.10 Td (TR) Tj ET Q q 0 0 0 rg BT 250.03 614.10 Td (Y) Tj ET Q q 0 0 0 rg BT 256.88 614.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.38 614.10 Td (0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.27 614.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.10 614.10 Td ($0.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.99 614.10 Td (\). Due to the immaterial nature of the redemption, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.10 Td (the Company has not included full year proforma statements of income for the acquisition year or previous year) Tj ET Q q 0 0 0 rg BT 496.81 602.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 578.10 Td (During the second quarter of 2017, the Company acquired controlling interests in three distributors \(2M Company) Tj ET Q q 0 0 0 rg BT 506.47 578.10 Td (, Inc. \(2M\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.10 Td (Drillers Service, Inc. \(DSI\), and ) Tj ET Q q 0 0 0 rg BT 189.21 566.10 Td (W) Tj ET Q q 0 0 0 rg BT 197.85 566.10 Td (estern Hydro, LLC \(W) Tj ET Q q 0 0 0 rg BT 292.57 566.10 Td (estern Hydro\), collectively referred to below as the Headwater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.10 Td (acquisitions\) in the U.S. professional groundwater market for a combined purchase price of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.64 554.10 Td ($57.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.53 554.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.10 Td (subject to certain terms and conditions. ) Tj ET Q q 0 0 0 rg BT 211.45 542.10 Td (The Company had previously prepaid a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.96 542.10 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.85 542.10 Td ( portion of the purchase price at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.10 Td (the time of original investment. ) Tj ET Q q 0 0 0 rg BT 180.63 530.10 Td (The Company funded the Headwater acquisitions with cash on hand and short-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.10 Td (borrowings from the Company) Tj ET Q q 0 0 0 rg BT 176.37 518.10 Td (s Revolver \(see Note 1) Tj ET Q q 0 0 0 rg BT 267.08 518.10 Td (1 - Debt\). ) Tj ET Q q 0 0 0 rg BT 310.50 518.10 Td (The Headwater acquisitions are reported within a new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 506.10 Td (Distribution segment \(see Note 16 - Segment Information\). ) Tj ET Q q 0 0 0 rg BT 300.31 506.10 Td (The Headwater acquisitions provide the Company with a robust ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 494.10 Td (groundwater distribution channel throughout the United States. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.10 Td (The Company previously held equity interests in these entities, each of which was less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.25 474.10 Td (50 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.17 474.10 Td (, and accounted for by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.10 Td (the equity method of accounting. ) Tj ET Q q 0 0 0 rg BT 186.73 462.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 246.44 462.10 Td (s total interest in each of the entities is now ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.95 462.10 Td (100 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.88 462.10 Td ( and the entities are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.10 Td (included in the Company) Tj ET Q q 0 0 0 rg BT 153.59 450.10 Td (s consolidated results ef) Tj ET Q q 0 0 0 rg BT 249.22 450.10 Td (fective from the date of acquisition. ) Tj ET Q q 0 0 0 rg BT 396.77 450.10 Td (The original equity interests in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.10 Td (acquired entities were remeasured to their fair values as of the acquisition date \(which aggregated was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.94 438.10 Td ($20.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.83 438.10 Td (\) based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.10 Td (the income approach, which utilized management estimates and consultation with an independent third-party valuation firm. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.10 Td (Inputs included an analysis of the enterprise value based on financial projections and ownership percentages. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (Intangible assets recognized due to the Headwater acquisitions were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.18 394.10 Td ($5.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.07 394.10 Td (, and consist of customer relationships, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (will be amortized utilizing the straight-line method over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.61 382.10 Td (15 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.21 382.10 Td (. ) Tj ET Q q 0 0 0 rg BT 317.52 382.10 Td (The fair value of the identifiable intangible assets has been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (estimated using an income approach, a valuation method that values an intangible asset by discounting the future incremental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (earnings that may be achieved by the subject intangible asset. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.10 Td (The goodwill of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.93 338.10 Td ($33.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.83 338.10 Td ( resulting from the Headwater acquisitions consists primarily of the benefits of forward channel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.10 Td (integration opportunities and broadened product of) Tj ET Q q 0 0 0 rg BT 253.37 326.10 Td (ferings. ) Tj ET Q q 0 0 0 rg BT 285.59 326.10 Td (All of the goodwill was recorded as part of the Distribution segment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.10 Td (and only a portion \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.87 314.10 Td ($7.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.76 314.10 Td (\) is expected to be deductible for tax purposes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.10 Td (The final purchase price assigned to the major identifiable assets and liabilities for the Headwater acquisitions on an aggregated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (basis is as follows:) 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 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 733.50 399.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 733.50 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 733.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 703.50 399.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 703.50 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 703.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 673.50 399.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 673.50 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 673.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 643.50 399.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 643.50 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 643.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 613.50 399.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 613.50 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 613.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 583.50 399.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 583.50 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 583.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 553.50 399.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 553.50 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 553.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 523.50 399.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 523.50 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 523.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 493.50 399.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 493.50 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 493.50 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 463.50 399.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 463.50 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 463.50 101.00 -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 460.5 673.5 m 561.5 673.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 598.5 m 561.5 598.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 538.5 m 561.5 538.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 493.5 m 561.5 493.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 478.5 m 561.5 478.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 448.5 m 561.5 448.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 434.5 m 561.5 434.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 432.5 m 561.5 432.5 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 (Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 723.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 723.17 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 708.17 Td (Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 708.17 Td (29.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 693.17 Td (Inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 693.17 Td (56.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 678.17 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 678.17 Td (5.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 663.17 Td (T) Tj ET Q q 0 0 0 rg BT 69.76 663.17 Td (otal current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 663.17 Td (93.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 648.17 Td (Property) Tj ET Q q 0 0 0 rg BT 86.11 648.17 Td (, plant, and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 648.17 Td (9.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 633.17 Td (Intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 633.17 Td (5.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 618.17 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 618.17 Td (33.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 603.17 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 603.17 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 588.17 Td (T) Tj ET Q q 0 0 0 rg BT 69.76 588.17 Td (otal assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 588.17 Td (143.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 573.17 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 573.22 Td (\(19.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 573.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 558.17 Td (Accrued liabilities and other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 558.22 Td (\(1) Tj ET Q q 0 0 0 rg BT 545.13 558.22 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 558.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 543.17 Td (Current maturities of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 543.22 Td (\(31.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 543.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 528.17 Td (T) Tj ET Q q 0 0 0 rg BT 69.76 528.17 Td (otal current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 528.22 Td (\(62.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 528.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 513.17 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 513.22 Td (\(2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 513.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 498.17 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 498.22 Td (\(0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 498.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 483.17 Td (T) Tj ET Q q 0 0 0 rg BT 69.76 483.17 Td (otal liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 483.22 Td (\(65.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 483.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 468.17 Td (T) Tj ET Q q 0 0 0 rg BT 69.76 468.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 468.17 Td (78.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 453.17 Td (Less: Fair value of original equity interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 453.22 Td (\(20.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 453.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 438.17 Td (T) Tj ET Q q 0 0 0 rg BT 69.41 438.17 Td (otal purchase price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 438.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 438.17 Td (57.4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.00 Td (The fair values of the assets acquired and liabilities assumed related to the Headwater acquisitions were final as of June 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.00 Td (2018. ) Tj ET Q q 0 0 0 rg BT 77.32 398.00 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 q 0 0 0 rg BT 50.00 386.00 Td (the valuation process. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.00 Td (The following unaudited proforma financial information for the year ended December 31, 2018, December 31, 2017 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.00 Td (December 31, 2016 gives ef) Tj ET Q q 0 0 0 rg BT 162.28 354.00 Td (fect to the Headwater acquisitions as if the acquisitions had occurred as of January 3, 2016. ) Tj ET Q q 0 0 0 rg BT 532.26 354.00 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.00 Td (unaudited proforma condensed consolidated financial statements are prepared for informational purposes only and are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.00 Td (necessarily indicative of actual results or financial position that would have been achieved had the acquisitions been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.00 Td (consummated on the dates indicated and are not necessarily indicative of future operating results or financial position of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.00 Td (consolidated companies. ) Tj ET Q q 0 0 0 rg BT 153.13 306.00 Td (The unaudited proforma condensed consolidated financial statements do not give ef) Tj ET Q q 0 0 0 rg BT 487.84 306.00 Td (fect to any cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.00 Td (savings or incremental costs that may result from the integration of the Headwater acquisitions. ) 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 78.00 649.50 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 649.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 649.50 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 649.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 649.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 649.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 649.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 78.00 619.50 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 619.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 619.50 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 619.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 619.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 619.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 619.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 78.00 589.50 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 589.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 589.50 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 589.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 589.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 589.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 589.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 78.00 559.50 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 559.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 559.50 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 559.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 559.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 559.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 559.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 78.00 529.50 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 529.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 529.50 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 529.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 529.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 529.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 529.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 78.00 499.50 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 499.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.00 499.50 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 499.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 499.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 499.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 499.50 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 342 679.5 m 403 679.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 679.5 m 407 679.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 679.5 m 467 679.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 679.5 m 533 679.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.75 738.17 Td (FRANKLIN ELECTRIC CO., INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.50 723.17 Td (PROFORMA) Tj ET Q q 0 0 0 rg BT 200.24 723.17 Td ( CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 322.75 723.17 Td (TED ST) Tj ET Q q 0 0 0 rg BT 355.40 723.17 Td (A) Tj ET Q q 0 0 0 rg BT 361.67 723.17 Td (TEMENTS OF INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.50 684.17 Td (\(in millions, except per share amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 684.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.50 684.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.50 684.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.50 654.17 Td (Revenue:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.50 639.17 Td (As reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 639.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 639.17 Td (1,298.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.50 639.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 639.17 Td (1,124.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 639.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 639.17 Td (949.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.50 624.17 Td (Proforma) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 624.17 Td (1,298.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 624.17 Td (1,184.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 624.17 Td (1,144.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.50 609.17 Td (Net income attributable to Franklin Electric Co., Inc.:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.50 594.17 Td (As reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 594.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 594.17 Td (105.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.50 594.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 594.17 Td (78.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 594.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 594.17 Td (78.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.50 579.17 Td (Proforma) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 579.17 Td (105.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 579.17 Td (79.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 579.17 Td (85.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.50 564.17 Td (Basic earnings per share:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.50 549.17 Td (As reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 549.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 549.17 Td (2.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.50 549.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 549.17 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 549.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 549.17 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.50 534.17 Td (Proforma) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 534.17 Td (2.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 534.17 Td (1.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 534.17 Td (1.80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.50 519.17 Td (Diluted earnings per share:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.50 504.17 Td (As reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 504.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 504.17 Td (2.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.50 504.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 504.17 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.50 504.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 504.17 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.50 489.17 Td (Proforma) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 489.17 Td (2.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 489.17 Td (1.68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 489.17 Td (1.78) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 461.00 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 461.00 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 459.59 461.00 Td (ASB ) Tj ET Q q 0 0 0 rg BT 480.99 461.00 Td (ASC ) Tj ET Q q 0 0 0 rg BT 502.76 461.00 Td (T) Tj ET Q q 0 0 0 rg BT 508.17 461.00 Td (opic 805, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 449.00 Td (Business Combinations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.12 449.00 Td (T) Tj ET Q q 0 0 0 rg BT 156.88 449.00 Td (ransaction costs included in selling, general, and administrative expense in the Company) Tj ET Q q 0 0 0 rg BT 514.28 449.00 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.00 Td (consolidated statements of income were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.45 437.00 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.34 437.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.34 437.00 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.23 437.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.17 437.00 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.06 437.00 Td ( for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.41 437.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.41 437.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.41 437.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.41 437.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.35 437.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.35 437.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.00 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 425.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 401.00 Td (4. F) Tj ET Q q 0 0 0 rg BT 65.37 401.00 Td (AIR ) Tj ET Q q 0 0 0 rg BT 86.02 401.00 Td (V) Tj ET Q q 0 0 0 rg BT 91.95 401.00 Td (ALUE MEASUREMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 389.00 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 389.00 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 389.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.47 389.00 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.05 389.00 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 50.00 377.00 Td (table below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 89.50 309.50 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 309.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 309.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 309.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 309.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 309.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 309.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 309.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 309.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 309.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 89.50 234.50 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 234.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 234.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 234.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 234.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 234.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 234.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 234.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 234.50 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 234.50 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 185.5 309.5 m 265.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 309.5 m 349.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 309.5 m 433.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 309.5 m 517.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 309.5 m 521.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 309.5 m 265.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 309.5 m 349.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 309.5 m 433.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 309.5 m 517.5 309.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 234.5 m 265.5 234.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 234.5 m 349.5 234.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 234.5 m 433.5 234.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 234.5 m 517.5 234.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 234.5 m 521.5 234.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 234.5 m 265.5 234.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 234.5 m 349.5 234.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 234.5 m 433.5 234.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 234.5 m 517.5 234.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 344.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 334.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 324.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 314.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.95 324.17 Td (December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.00 314.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.65 344.17 Td (Quoted Prices in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.00 334.17 Td (Active Markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.40 324.17 Td (for Identical) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.20 314.17 Td (Assets \(Level 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.40 334.17 Td (Significant Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.45 324.17 Td (Observable Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 314.17 Td (\(Level 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.05 334.17 Td (Significant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.20 324.17 Td (Unobservable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.75 314.17 Td (Inputs \(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 299.17 Td (Cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 299.17 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 299.17 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 299.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 299.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.65 299.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.95 249.17 Td (December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.00 239.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.65 269.17 Td (Quoted Prices in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.00 259.17 Td (Active Markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.40 249.17 Td (for Identical) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.20 239.17 Td (Assets \(Level 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.40 259.17 Td (Significant Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.45 249.17 Td (Observable Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 239.17 Td (\(Level 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.05 259.17 Td (Significant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.20 249.17 Td (Unobservable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.75 239.17 Td (Inputs \(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 224.17 Td (Cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.00 224.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 224.17 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 224.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 224.17 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 224.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 224.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 224.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.65 224.17 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.00 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 196.00 Td (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 50.00 184.00 Td (certificates of deposit. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.00 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 50.00 136.00 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 136.00 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 315.61 136.00 Td ($206.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.50 136.00 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.72 136.00 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.30 136.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.74 136.00 Td ($226.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.63 136.00 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.00 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 124.00 Td (.) Tj ET Q q 0 0 0 rg BT 135.90 124.00 Td (The estimated fair value of all debt was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.40 124.00 Td ($205 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.79 124.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.23 124.00 Td ($230 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.62 124.00 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.83 124.00 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.42 124.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.00 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 112.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 181.25 112.00 Td (. In the absence of quoted prices in active markets, considerable judgment is required in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.00 Td (developing estimates of fair value. Estimates are not necessarily indicative of the amounts the Company could realize in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.00 Td (current market transaction.In determining the fair value of its debt, the Company uses estimates based on rates currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.00 Td (available to the Company for debt with similar terms and remaining maturities.) Tj ET Q q 0 0 0 rg BT 371.04 76.00 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 420.37 76.00 Td (, the fair value of debt is classified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.00 Td (as Level 2 within the valuation hierarchy) Tj ET Q q 0 0 0 rg BT 213.18 64.00 Td (. ) 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 /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (5. FINANCIAL) Tj ET Q q 0 0 0 rg BT 116.12 742.25 Td ( INSTRUMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 730.25 Td (s deferred compensation stock program is subject to variable plan accounting and, accordingly) Tj ET Q q 0 0 0 rg BT 486.99 730.25 Td (, is adjusted for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (changes in the Company) Tj ET Q q 0 0 0 rg BT 151.37 718.25 Td (s stock price at the end of each reporting period. ) Tj ET Q q 0 0 0 rg BT 348.89 718.25 Td (The Company has entered into share swap ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (transaction agreements \(the swap\) to mitigate the Company) Tj ET Q q 0 0 0 rg BT 299.64 706.25 Td (s exposure to these fluctuations in the Company) Tj ET Q q 0 0 0 rg BT 494.33 706.25 Td (s stock price. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 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 425.43 694.25 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.43 694.25 Td ( days written notice by either ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (party) Tj ET Q q 0 0 0 rg BT 69.90 682.25 Td (. ) Tj ET Q q 0 0 0 rg BT 76.85 682.25 Td (As of December 31, 2018, the swap has a notional value based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.61 682.25 Td (235,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.11 682.25 Td ( shares. For the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.18 682.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 670.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 670.25 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.58 670.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.52 670.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.11 670.25 Td (, the swap resulted in a loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.14 670.25 Td ($1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.03 670.25 Td (, a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.52 670.25 Td ($1.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.41 670.25 Td (, and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.55 658.25 Td ($2.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.44 658.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 182.10 658.25 Td (. Gains and losses resulting from the swap were primarily of) Tj ET Q q 0 0 0 rg BT 425.75 658.25 Td (fset by gains and losses on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (fair value of the deferred compensation stock liability) Tj ET Q q 0 0 0 rg BT 263.99 646.25 Td (. ) Tj ET Q q 0 0 0 rg BT 270.94 646.25 Td (All gains or losses and expenses related to the swap are recorded in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 634.25 Td (s 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 50.00 610.25 Td (6. OTHER ) Tj ET Q q 0 0 0 rg BT 98.07 610.25 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (Through the second quarter of 2017, the Company held equity interests in the three acquired distribution companies identified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (in Note 3 - ) Tj ET Q q 0 0 0 rg BT 95.00 586.25 Td (Acquisitions for various strategic purposes. ) Tj ET Q q 0 0 0 rg BT 273.39 586.25 Td (The investments were accounted for under the equity method and were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (included in Other assets on the Company) Tj ET Q q 0 0 0 rg BT 226.07 574.25 Td (s consolidated balance sheet. ) Tj ET Q q 0 0 0 rg BT 346.40 574.25 Td (The carrying amount of the investments were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (adjusted for the Company) Tj ET Q q 0 0 0 rg BT 156.37 562.25 Td (s proportionate share of earnings, losses, and dividends. ) Tj ET Q q 0 0 0 rg BT 384.47 562.25 Td (The investments were not considered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (material to the Company) Tj ET Q q 0 0 0 rg BT 151.92 550.25 Td (s financial position, either individually or in the aggregate. During the second quarter of 2017, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (remaining interests of these equity method investments were purchased \(see Note 3 - ) Tj ET Q q 0 0 0 rg BT 391.29 538.25 Td (Acquisitions\), bringing total ownership of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (these entities to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.71 526.25 Td (100 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.63 526.25 Td (. ) Tj ET Q q 0 0 0 rg BT 168.58 526.25 Td (As of December 31, 2018, there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.02 526.25 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.02 526.25 Td ( equity method investments recorded on the Company) Tj ET Q q 0 0 0 rg BT 550.14 526.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (consolidated balance sheet. Prior to the purchase of the remaining interests, the Company) Tj ET Q q 0 0 0 rg BT 412.95 514.25 Td (s proportionate share of earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (from its equity interests, were included in the Other income, net line of the Company) Tj ET Q q 0 0 0 rg BT 401.57 502.25 Td (s consolidated statements of income. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (The amounts were immaterial for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.03 490.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.61 490.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.11 490.25 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.70 490.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.64 490.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.22 490.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 478.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (7. GOODWILL) Tj ET Q q 0 0 0 rg BT 117.24 454.25 Td ( ) Tj ET Q q 0 0 0 rg BT 119.18 454.25 Td (AND OTHER INT) Tj ET Q q 0 0 0 rg BT 199.01 454.25 Td (ANGIBLE ) Tj ET Q q 0 0 0 rg BT 247.08 454.25 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (The carrying amounts of the Company) Tj ET Q q 0 0 0 rg BT 207.46 442.25 Td (s intangible assets are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 354.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 354.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 354.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 354.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 354.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 354.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 354.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 354.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 354.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 324.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 324.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 324.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 324.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 324.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 324.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 324.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 324.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 324.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 294.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 294.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 294.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 294.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 294.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 294.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 294.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 294.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 294.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 264.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 264.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 264.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 264.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 264.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 264.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 264.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 264.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 264.75 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 269.5 404.75 m 339.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 404.75 m 343.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 404.75 m 413.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 404.75 m 487.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 404.75 m 491.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 404.75 m 561.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 369.75 m 339.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 369.75 m 413.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 369.75 m 487.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 369.75 m 561.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 294.75 m 339.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 294.75 m 413.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 294.75 m 487.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 294.75 m 561.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 294.75 m 339.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 280.75 m 339.5 280.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 278.75 m 339.5 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 294.75 m 413.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 280.75 m 413.5 280.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 278.75 m 413.5 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 294.75 m 487.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 280.75 m 487.5 280.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 278.75 m 487.5 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 294.75 m 561.5 294.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 280.75 m 561.5 280.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 278.75 m 561.5 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 249.75 m 339.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 249.75 m 413.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 249.75 m 487.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 249.75 m 561.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 249.75 m 339.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 235.75 m 339.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 233.75 m 339.5 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 249.75 m 413.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 235.75 m 413.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 233.75 m 413.5 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 249.75 m 487.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 235.75 m 487.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 233.75 m 487.5 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 249.75 m 561.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 235.75 m 561.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 233.75 m 561.5 233.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 409.42 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.00 409.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 409.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 374.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.30 384.42 Td (Gross Carrying) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.60 374.42 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.30 384.42 Td (Accumulated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.30 374.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 384.42 Td (Gross Carrying) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.60 374.42 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.30 384.42 Td (Accumulated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.30 374.42 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 359.42 Td (Amortized intangibles:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.00 359.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.00 359.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 359.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 359.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 344.42 Td (Patents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 344.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 344.42 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 344.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 344.47 Td (\(6.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 344.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 344.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 344.42 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 344.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 344.47 Td (\(6.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 344.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 329.42 Td (T) Tj ET Q q 0 0 0 rg BT 63.76 329.42 Td (echnology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 329.42 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 329.47 Td (\(6.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 329.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 329.42 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 329.47 Td (\(5.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 329.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 314.42 Td (Customer relationships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 314.42 Td (151.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 314.47 Td (\(63.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 314.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 314.42 Td (138.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 314.47 Td (\(57.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 314.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 299.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 299.42 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 299.47 Td (\(2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 299.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 299.42 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 299.47 Td (\(2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 299.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 284.42 Td (T) Tj ET Q q 0 0 0 rg BT 57.76 284.42 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 284.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 284.42 Td (168.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 284.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 284.47 Td (\(79.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 284.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 284.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 284.42 Td (156.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 284.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 284.47 Td (\(72.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 284.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 269.42 Td (Unamortized intangibles:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 254.42 Td (T) Tj ET Q q 0 0 0 rg BT 63.76 254.42 Td (rade names) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 254.42 Td (45.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 254.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 254.42 Td (47.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 254.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 239.42 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 239.42 Td (otal intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 239.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 239.42 Td (214.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 239.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 239.47 Td (\(79.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 239.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 239.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 239.42 Td (204.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 239.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 239.47 Td (\(72.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 239.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.25 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 310.74 211.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.74 211.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.74 211.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.74 211.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.68 211.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.68 211.25 Td (, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.73 211.25 Td ($8.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.62 211.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.62 211.25 Td ($8.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.52 211.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.25 Td ($8.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.89 199.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 151.55 199.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.25 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 49.50 137.75 142.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 191.50 137.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.50 137.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 137.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 137.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 137.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 137.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 137.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 137.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 137.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 137.75 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 195.5 137.75 m 265.5 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 137.75 m 339.5 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 137.75 m 343.5 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 137.75 m 413.5 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 137.75 m 487.5 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 137.75 m 561.5 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195.5 137.75 m 265.5 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 137.75 m 339.5 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 137.75 m 413.5 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 137.75 m 487.5 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 137.75 m 561.5 137.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 142.42 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.00 142.42 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 142.42 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 142.42 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 142.42 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 142.42 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.00 127.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 127.42 Td (9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 127.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 127.42 Td (9.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 127.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 127.42 Td (8.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 127.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 127.42 Td (8.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 127.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 127.42 Td (8.4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.25 Td (The change in the carrying amount of goodwill by reportable segment for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.57 75.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.57 75.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.01 75.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.01 75.25 Td (, is as follows:) Tj ET Q 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 0.8 0.9333333333333333 1 rg /GS0 gs 69.50 718.50 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 718.50 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 718.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 718.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 718.50 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 69.50 688.50 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 688.50 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 688.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 688.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 688.50 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 69.50 658.50 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 658.50 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 658.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 658.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 658.50 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 69.50 628.50 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 628.50 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 628.50 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 628.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 628.50 64.00 -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 259.5 733.5 m 328.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 733.5 m 332.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 733.5 m 407.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 733.5 m 411.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 733.5 m 473.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 733.5 m 477.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 733.5 m 541.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 718.5 m 328.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 718.5 m 407.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 718.5 m 473.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 718.5 m 541.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 718.5 m 328.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 718.5 m 407.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 718.5 m 473.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 718.5 m 541.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 673.5 m 328.5 673.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 673.5 m 407.5 673.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 673.5 m 473.5 673.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 673.5 m 477.5 673.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 673.5 m 541.5 673.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 613.5 m 328.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 599.5 m 328.5 599.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 597.5 m 328.5 597.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 613.5 m 407.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 599.5 m 407.5 599.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 597.5 m 407.5 597.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 613.5 m 473.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 599.5 m 473.5 599.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 597.5 m 473.5 597.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 613.5 m 477.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 599.5 m 477.5 599.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 597.5 m 477.5 597.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 613.5 m 541.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 599.5 m 541.5 599.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 597.5 m 541.5 597.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 738.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.75 723.17 Td (W) Tj ET Q q 0 0 0 rg BT 272.79 723.17 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 723.17 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.80 723.17 Td (Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.60 723.17 Td (Consolidated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 708.18 Td (Balance as of December) Tj ET Q q 0 0 0 rg BT 173.82 708.18 Td ( 31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.00 708.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.15 708.18 Td (136.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.00 708.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 708.18 Td (63.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.00 708.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.65 708.18 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.00 708.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.15 708.18 Td (199.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 693.17 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 693.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 693.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 693.17 Td (33.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 693.17 Td (33.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 678.17 Td (Foreign currency translation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 678.17 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 678.17 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 678.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 678.17 Td (3.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 648.18 Td (Balance as of December) Tj ET Q q 0 0 0 rg BT 173.82 648.18 Td ( 31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.00 648.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.15 648.18 Td (139.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.00 648.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 648.18 Td (63.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.00 648.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 648.18 Td (33.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.00 648.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.15 648.18 Td (236.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 633.17 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 633.17 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 633.17 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 633.17 Td (1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 633.17 Td (16.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 618.17 Td (Foreign currency translation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.80 618.17 Td (\(3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.65 618.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.80 618.22 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 618.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 618.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 618.22 Td (\(4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 618.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 603.18 Td (Balance as of December) Tj ET Q q 0 0 0 rg BT 173.73 603.18 Td ( 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.00 603.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.15 603.18 Td (145.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.00 603.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 603.18 Td (67.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 603.18 Td (35.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.00 603.18 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.15 603.18 Td (248.7) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 575.00 Td ( 8. EMPLOYEE BENEFIT) Tj ET Q q 0 0 0 rg BT 363.45 575.00 Td ( PLANS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 563.00 Td (Defined Benefit Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.10 563.00 Td ( - ) Tj ET Q q 0 0 0 rg BT 148.88 563.00 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.33 563.00 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.91 563.00 Td (, the Company maintained ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.94 563.00 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.94 563.00 Td ( domestic pension plans and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.20 563.00 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.19 563.00 Td ( German ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 551.00 Td (pension plans. ) Tj ET Q q 0 0 0 rg BT 112.04 551.00 Td (The Company used a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.24 551.00 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.82 551.00 Td ( measurement date for these plans. One of the Company) Tj ET Q q 0 0 0 rg BT 507.48 551.00 Td (s domestic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.00 Td (pension plans covers one active management employee, while the other domestic plan covers all eligible employees \(plan was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 527.00 Td (frozen as of December 31, 201) Tj ET Q q 0 0 0 rg BT 172.91 527.00 Td (1\). ) Tj ET Q q 0 0 0 rg BT 188.56 527.00 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.61 527.00 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.61 527.00 Td ( domestic and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.65 527.00 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.63 527.00 Td ( German plans collectively comprise the Pension Benefits) Tj ET Q q 0 0 0 rg BT 536.88 527.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.00 Td (disclosure caption. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 491.00 Td (Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.28 491.00 Td ( - ) Tj ET Q q 0 0 0 rg BT 118.43 491.00 Td (The Company) Tj ET Q q 0 0 0 rg BT 178.14 491.00 Td (s other post-retirement benefit plan provides health and life insurance to domestic employees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.00 Td (hired prior to 1992. ) Tj ET Q q 0 0 0 rg BT 132.58 479.00 Td (The Company ef) Tj ET Q q 0 0 0 rg BT 199.60 479.00 Td (fectively capped its cost for those benefits through plan amendments made in 1992, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.00 Td (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 50.00 455.00 Td (reduced benefits for employees who retire before age ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.45 455.00 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.45 455.00 Td (. ) Tj ET Q q 0 0 0 rg BT 282.77 455.00 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 50.00 443.00 Td (Benefits caption.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.00 Td (The following table sets forth aggregated information related to the Company) Tj ET Q q 0 0 0 rg BT 363.24 419.00 Td (s pension benefits and other postretirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.00 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 50.00 395.00 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 50.00 383.00 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 50.00 371.00 Td (projected benefit obligation \(PBO\) for the Company) Tj ET Q q 0 0 0 rg BT 262.17 371.00 Td (s pension plans, and accumulated postretirement benefit obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.00 Td (\(APBO\) for the Company) Tj ET Q q 0 0 0 rg BT 156.38 359.00 Td (s other benefit plans.) Tj ET Q endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (49) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 718.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 718.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 718.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 718.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 718.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 673.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 673.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 673.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 673.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 673.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 673.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 673.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 673.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 673.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 643.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 643.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 643.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 643.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 643.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 643.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 643.50 70.00 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 583.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 583.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 583.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 583.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 583.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 583.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 583.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 523.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 523.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 523.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 523.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 523.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 523.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 523.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 523.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 523.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 493.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 493.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 493.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 493.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 493.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 493.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 493.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 493.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 493.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 463.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 463.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 463.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 463.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 463.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 463.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 463.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 463.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 463.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 433.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 433.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 433.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 433.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 433.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 433.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 433.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 433.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 433.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 343.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 343.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 343.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 343.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 343.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 343.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 343.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 343.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 343.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 273.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 273.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 273.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 273.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 273.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 273.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 273.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 273.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 273.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 243.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 243.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 243.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 243.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 243.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 243.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 243.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 243.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 243.50 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 269.5 733.5 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 269.5 568.5 m 339.5 568.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 568.5 m 413.5 568.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 568.5 m 487.5 568.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 568.5 m 561.5 568.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 554.5 m 339.5 554.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 552.5 m 339.5 552.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 554.5 m 413.5 554.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 552.5 m 413.5 552.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 554.5 m 487.5 554.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 552.5 m 487.5 552.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 554.5 m 561.5 554.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 552.5 m 561.5 552.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 433.5 m 339.5 433.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 433.5 m 413.5 433.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 433.5 m 487.5 433.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 433.5 m 561.5 433.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 419.5 m 339.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 417.5 m 339.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 419.5 m 413.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 417.5 m 413.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 419.5 m 487.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 417.5 m 487.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 419.5 m 561.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 417.5 m 561.5 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 389.5 m 339.5 389.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 387.5 m 339.5 387.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 389.5 m 413.5 389.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 387.5 m 413.5 387.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 389.5 m 487.5 389.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 387.5 m 487.5 387.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 389.5 m 561.5 389.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 387.5 m 561.5 387.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 328.5 m 339.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 328.5 m 413.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 328.5 m 487.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 328.5 m 561.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 314.5 m 339.5 314.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 312.5 m 339.5 312.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 314.5 m 413.5 314.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 312.5 m 413.5 312.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 314.5 m 487.5 314.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 312.5 m 487.5 312.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 314.5 m 561.5 314.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 312.5 m 561.5 312.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 228.5 m 339.5 228.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 228.5 m 413.5 228.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 228.5 m 487.5 228.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 228.5 m 561.5 228.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 204.5 m 339.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 202.5 m 339.5 202.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 204.5 m 413.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 202.5 m 413.5 202.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 204.5 m 487.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 202.5 m 487.5 202.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 204.5 m 561.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 202.5 m 561.5 202.5 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 (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 723.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 723.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 723.17 Td (2017) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 708.17 Td (164.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 708.17 Td (180.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 708.17 Td (9.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 708.17 Td (10.3) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 663.17 Td (185.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 663.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 663.17 Td (181.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 663.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 663.17 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 663.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 663.17 Td (10.5) 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 (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 648.17 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 648.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 648.17 Td () 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 (5.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 633.17 Td (5.6) 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 (0.3) 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 319.80 618.22 Td (\(9.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 618.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 618.17 Td (7.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 618.22 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 618.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 618.17 Td (0.6) 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 (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 603.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 603.22 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 603.17 Td (\)) 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 (\(1) Tj ET Q q 0 0 0 rg BT 323.13 588.22 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 588.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 588.22 Td (\(1) Tj ET Q q 0 0 0 rg BT 397.13 588.22 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 588.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 588.22 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 588.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 588.22 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 588.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 573.17 Td (Foreign currency exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 573.22 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 573.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 573.17 Td (2.8) 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 52.00 558.17 Td (Benefit obligation, end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 558.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 558.17 Td (168.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 558.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 558.17 Td (185.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 558.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 558.17 Td (9.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 558.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 558.17 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 528.17 Td (Change in plan assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 528.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 528.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 528.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 528.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 513.17 Td (Fair value of assets, beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 513.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 513.17 Td (153.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 513.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 513.17 Td (146.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 513.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 513.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 513.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 513.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 498.17 Td (Actual return on plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 498.22 Td (\(3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 498.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 498.17 Td (16.1) 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 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 (Company contributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 483.17 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 483.17 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 483.17 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 483.17 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 468.17 Td (Settlements paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 468.22 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 468.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 468.22 Td (\(0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 468.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 468.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 468.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 453.17 Td (Benefits paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 453.22 Td (\(1) Tj ET Q q 0 0 0 rg BT 323.13 453.22 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 453.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 453.22 Td (\(1) Tj ET Q q 0 0 0 rg BT 397.13 453.22 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 453.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 453.22 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 453.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 453.22 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 453.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 438.17 Td (Foreign currency exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 438.22 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 438.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 438.17 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 438.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 438.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 423.17 Td (Plan assets, end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 423.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 423.17 Td (140.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 423.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 423.17 Td (153.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 423.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 423.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 423.17 Td ($) 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 52.00 393.17 Td (Funded status) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 393.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 393.22 Td (\(28.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 393.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 393.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 393.22 Td (\(31.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 393.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 393.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 393.22 Td (\(9.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 393.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 393.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 393.22 Td (\(10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 393.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 363.17 Td (Amounts recognized in balance sheet:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.00 363.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.00 363.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 363.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 363.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 348.17 Td (Current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 348.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 348.22 Td (\(0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 348.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 348.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 348.22 Td (\(0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 348.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 348.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 348.22 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 348.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 348.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 348.22 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 348.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 333.17 Td (Noncurrent liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 333.22 Td (\(28.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 333.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 333.22 Td (\(31.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 333.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 333.22 Td (\(8.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 333.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 333.22 Td (\(9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 333.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 318.17 Td (Net liability) Tj ET Q q 0 0 0 rg BT 99.72 318.17 Td (, end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 318.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 318.22 Td (\(28.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 318.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 318.22 Td (\(31.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 318.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 318.22 Td (\(9.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 318.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 318.22 Td (\(10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 288.17 Td (Amount recognized in accumulated other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 278.17 Td (comprehensive income/\(loss\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.00 278.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.00 278.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 278.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 278.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 263.17 Td (Prior service cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 263.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 263.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 263.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 263.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 263.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 263.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 263.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 263.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 248.17 Td (Net actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 248.17 Td (47.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 248.17 Td (47.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 248.17 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 248.17 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 233.17 Td (Settlement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 233.17 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 233.17 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 233.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 233.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 218.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 218.17 Td (otal recognized in accumulated other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 208.17 Td (comprehensive income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 208.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 208.17 Td (47.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 208.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 208.17 Td (48.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 208.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 208.17 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 208.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 208.17 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.00 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 50.00 156.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 156.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.44 156.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.44 156.00 Td (:) Tj ET Q 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 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 718.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 718.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 718.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 718.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 718.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 688.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 688.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 688.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 688.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 688.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 658.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 658.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 658.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 658.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 658.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 628.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 628.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 628.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 628.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 628.50 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 269.5 733.5 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 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 269.5 613.5 m 339.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 613.5 m 413.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 613.5 m 487.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 613.5 m 561.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 599.5 m 339.5 599.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 597.5 m 339.5 597.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 599.5 m 413.5 599.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 597.5 m 413.5 597.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 599.5 m 487.5 599.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 597.5 m 487.5 597.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 599.5 m 561.5 599.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 597.5 m 561.5 597.5 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 (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 723.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 723.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 723.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 708.17 Td (Net actuarial \(gain\)/loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 708.17 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 708.22 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 708.17 Td (\)) 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 467.80 708.22 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 708.17 Td (\)) 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 545.15 708.17 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 693.17 Td (Amortization of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.00 693.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.00 693.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.00 693.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 693.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 678.17 Td (Net actuarial gain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 678.22 Td (\(2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 678.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 678.22 Td (\(2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 678.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 678.22 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 678.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 678.22 Td (\(0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 678.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 663.17 Td (Prior service credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 663.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 663.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 663.22 Td (\(0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 663.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 663.22 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 663.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 648.17 Td (Settlement recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 648.22 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 648.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 648.22 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 648.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 648.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 648.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 633.17 Td (Deferred tax asset) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 633.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 633.17 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 633.17 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 633.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 618.17 Td (Foreign currency exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 618.22 Td (\(0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 618.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 618.17 Td (0.3) 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 547.65 618.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 603.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 603.17 Td (otal recognized in other comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 603.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 603.22 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 603.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 603.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 603.22 Td (\(2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 603.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 603.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 603.22 Td (\(0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 603.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 603.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 603.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.00 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 575.00 Td (eighted-average assumptions used to determine domestic benefit obligations:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 522.50 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 522.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 522.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 522.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 522.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 522.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 522.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 522.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 522.50 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 270.5 537.5 m 340.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 537.5 m 344.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 537.5 m 414.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 537.5 m 488.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 537.5 m 492.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 537.5 m 562.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 537.5 m 340.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 522.5 m 340.5 522.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 537.5 m 414.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 522.5 m 414.5 522.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 537.5 m 488.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 522.5 m 488.5 522.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 537.5 m 562.5 537.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 522.5 m 562.5 522.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 542.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.25 542.17 Td (Pension Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.70 542.17 Td (Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 527.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.00 527.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 527.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 527.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 527.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 512.17 Td (Discount rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.15 512.17 Td (4.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.65 512.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 512.17 Td (3.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 512.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 512.17 Td (4.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 512.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 512.17 Td (3.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 512.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 487.17 Td (Rate of increase in future compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 487.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.65 487.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.50 492.67 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 487.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 487.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.50 492.67 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.30 497.17 Td (3.00 - 8.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.90 487.17 Td (\(Graded\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.30 497.17 Td (3.00 - 8.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.90 487.17 Td (\(Graded\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 459.00 Td (*No rate of increases in future compensation were used in the assumptions for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.74 459.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.74 459.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.18 459.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.18 459.00 Td (, as the cash balance component ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 447.00 Td (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 50.00 435.00 Td (compensation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 411.00 Td (Assumptions used to determine domestic periodic benefit cost:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 358.50 114.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.50 358.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 358.50 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 358.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.50 358.50 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 358.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 358.50 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 358.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.50 358.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 358.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 358.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 358.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 358.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 318.50 114.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.50 318.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 318.50 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 318.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.50 318.50 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 318.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 318.50 52.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 318.50 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.50 318.50 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 318.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 318.50 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 318.50 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 318.50 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 167.5 373.5 m 221.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 373.5 m 225.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 373.5 m 281.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 373.5 m 285.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 373.5 m 337.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 373.5 m 412.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 373.5 m 416.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 373.5 m 486.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 373.5 m 491.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 373.5 m 561.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 167.5 373.5 m 221.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 167.5 358.5 m 221.5 358.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 373.5 m 281.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 358.5 m 281.5 358.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 373.5 m 337.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 358.5 m 337.5 358.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 373.5 m 412.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 358.5 m 412.5 358.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 373.5 m 486.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 358.5 m 486.5 358.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 373.5 m 561.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 358.5 m 561.5 358.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 358.5 m 337.5 358.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 358.5 m 561.5 358.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 378.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.25 378.17 Td (Pension Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.20 378.17 Td (Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 363.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.00 363.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 363.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 363.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.00 363.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 363.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 363.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 348.17 Td (Discount rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.15 348.17 Td (3.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.65 348.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.15 348.17 Td (4.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 348.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 348.17 Td (4.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 348.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 348.17 Td (3.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 348.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 348.17 Td (3.91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 348.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 348.17 Td (4.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 348.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 333.17 Td (Rate of increase in future) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 323.17 Td (compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.65 323.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.65 323.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.50 328.67 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.65 323.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 323.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.50 328.67 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 323.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 323.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.50 328.67 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.30 333.17 Td (3.00 - 8.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.90 323.17 Td (\(Graded\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.30 333.17 Td (3.00 - 8.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.90 323.17 Td (\(Graded\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 333.17 Td (3.00 - 8.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.90 323.17 Td (\(Graded\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 308.17 Td (Expected long-term rate of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 298.17 Td (return on plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.15 298.17 Td (5.90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.65 298.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.15 298.17 Td (6.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 298.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 298.17 Td (6.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 298.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 298.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 298.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 298.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 298.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 298.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 298.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.00 Td (*No rate of increases in future compensation were used in the assumptions for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.74 270.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.74 270.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.74 270.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.74 270.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.68 270.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.68 270.00 Td (, as the cash balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.00 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 50.00 246.00 Td (compensation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.00 Td (For the fiscal year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.35 222.00 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.93 222.00 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 50.00 210.00 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 50.00 198.00 Td (MP-2017 released by the Society of ) Tj ET Q q 0 0 0 rg BT 195.53 198.00 Td (Actuaries during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.95 198.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.95 198.00 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 50.00 186.00 Td (fiscal year ended December 31, 2017, 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 50.00 174.00 Td (improvements from 2006 to the measurement date using Scale MP-2014, and then projected forward using Scale MP-2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.00 Td (released by the Society of ) Tj ET Q q 0 0 0 rg BT 155.24 162.00 Td (Actuaries during 2016 to estimate future mortality rates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.00 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 457.91 126.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.91 126.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.91 126.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.91 126.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.85 126.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.85 126.00 Td (:) 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 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 718.50 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 718.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 718.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 718.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 718.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 718.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 718.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 718.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 688.50 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 688.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 688.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 688.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 688.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 688.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 688.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 688.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 658.50 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 658.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 658.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 658.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 658.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 658.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 658.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 658.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 628.50 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 628.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 628.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 628.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 628.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 628.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 628.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 628.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 598.50 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 212.50 598.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 598.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 598.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 598.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 598.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 598.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 598.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 598.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 598.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 598.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 598.50 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 212.5 733.5 m 267.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 733.5 m 271.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 733.5 m 326.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 733.5 m 330.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 733.5 m 385.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 733.5 m 444.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 733.5 m 448.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 733.5 m 503.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 733.5 m 507.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 733.5 m 562.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 733.5 m 267.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 718.5 m 267.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 733.5 m 326.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 718.5 m 326.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 733.5 m 385.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 718.5 m 385.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 733.5 m 444.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 718.5 m 444.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 733.5 m 503.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 718.5 m 503.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 733.5 m 562.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 718.5 m 562.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 718.5 m 267.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 718.5 m 326.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 718.5 m 385.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 718.5 m 444.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 718.5 m 503.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 718.5 m 562.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 583.5 m 267.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 583.5 m 326.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 583.5 m 385.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 583.5 m 444.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 583.5 m 503.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 583.5 m 562.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 583.5 m 267.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 569.5 m 267.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 567.5 m 267.5 567.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 583.5 m 326.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 569.5 m 326.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 567.5 m 326.5 567.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 583.5 m 385.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 569.5 m 385.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 567.5 m 385.5 567.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 583.5 m 444.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 569.5 m 444.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 567.5 m 444.5 567.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 583.5 m 503.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 569.5 m 503.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 567.5 m 503.5 567.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 583.5 m 562.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 569.5 m 562.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 567.5 m 562.5 567.5 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 264.75 738.17 Td (Pension Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.20 738.17 Td (Other Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 723.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.50 723.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.50 723.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.50 723.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 723.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.50 723.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.50 723.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 708.17 Td (Service cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 708.17 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 708.17 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 708.17 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 708.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 708.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 708.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 693.17 Td (Interest cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 693.17 Td (5.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 693.17 Td (5.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 693.17 Td (6.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 693.17 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 693.17 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 693.17 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 678.17 Td (Expected return on assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.80 678.17 Td (\(8.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.65 678.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.80 678.22 Td (\(9.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.65 678.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.80 678.22 Td (\(9.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 678.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 678.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 678.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 678.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 663.17 Td (Amortization of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 648.17 Td (T) Tj ET Q q 0 0 0 rg BT 70.93 648.17 Td (ransition obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.65 648.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 648.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 648.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 648.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 648.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 648.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 633.17 Td (Settlement cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.65 633.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 633.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 633.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 633.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 633.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 633.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 618.17 Td (Prior service cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.65 618.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 618.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 618.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 618.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 618.17 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 618.17 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 603.17 Td (Actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 603.17 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 603.17 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 603.17 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 603.17 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 603.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 603.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 588.17 Td (Settlement cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.65 588.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 588.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 588.17 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 588.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 588.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 588.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 573.17 Td (Net periodic benefit cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.15 573.17 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 573.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 573.17 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 573.17 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 573.17 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 573.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 573.17 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 545.00 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 50.00 533.00 Td (comprehensive income into net periodic benefit cost during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.48 533.00 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.48 533.00 Td ( are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.69 533.00 Td ($2.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.58 533.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.02 533.00 Td ($0.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.91 533.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 497.57 533.00 Td (, for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 521.00 Td (pension plans and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.16 521.00 Td ($0.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.05 521.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.49 521.00 Td ($0.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.38 521.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 294.04 521.00 Td (, for all other benefits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 497.00 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 536.08 497.00 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.00 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 50.00 473.00 Td (least daily net asset valuations. ) Tj ET Q q 0 0 0 rg BT 178.40 473.00 Td (Thus, the Company) Tj ET Q q 0 0 0 rg BT 259.78 473.00 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 50.00 461.00 Td (funds approach.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.00 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 437.00 Td (s Board has delegated oversight and guidance to an appointed Employee Benefits Committee.) Tj ET Q q 0 0 0 rg BT 489.71 437.00 Td (The Committee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.00 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 50.00 413.00 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 50.00 389.00 Td (The plan) Tj ET Q q 0 0 0 rg BT 88.04 389.00 Td (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 50.00 377.00 Td (include the plan) Tj ET Q q 0 0 0 rg BT 116.65 377.00 Td (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 50.00 365.00 Td (volatile business results on the Company) Tj ET Q q 0 0 0 rg BT 216.37 365.00 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 50.00 353.00 Td (volatility among other considerations. ) Tj ET Q q 0 0 0 rg BT 206.46 353.00 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 533.87 353.00 Td (80 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 341.00 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.42 341.00 Td ( or greater pursuant to the Pension Protection ) Tj ET Q q 0 0 0 rg BT 262.16 341.00 Td (Act of 2007. Given the plan) Tj ET Q q 0 0 0 rg BT 379.08 341.00 Td (s current funded status, the Company) Tj ET Q q 0 0 0 rg BT 530.72 341.00 Td (s cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 329.00 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 50.00 317.00 Td (Company sees ample liquidity to achieve this goal.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 293.00 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 50.00 281.00 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 50.00 269.00 Td (primarily on the return on asset assumption and the discount rate assumption.) Tj ET Q q 0 0 0 rg BT 363.83 269.00 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.28 269.00 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.86 269.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.30 269.00 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 257.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 257.00 Td (, funds were invested in equity) Tj ET Q q 0 0 0 rg BT 192.10 257.00 Td (, fixed income, and other investments as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 204.50 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 204.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 204.50 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 204.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 204.50 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 204.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 204.50 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 174.50 199.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 248.50 174.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.50 174.50 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 174.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 174.50 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 174.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 174.50 100.00 -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 356.5 219.5 m 456.5 219.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 219.5 m 461.5 219.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 219.5 m 561.5 219.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 204.5 m 248.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252.5 204.5 m 352.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 219.5 m 456.5 219.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 204.5 m 456.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 204.5 m 561.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252.5 204.5 m 352.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 204.5 m 456.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 204.5 m 561.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252.5 159.5 m 352.5 159.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252.5 145.5 m 352.5 145.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252.5 143.5 m 352.5 143.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 159.5 m 456.5 159.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 145.5 m 456.5 145.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 143.5 m 456.5 143.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 159.5 m 561.5 159.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 145.5 m 561.5 145.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 143.5 m 561.5 143.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.20 224.17 Td (T) Tj ET Q q 0 0 0 rg BT 271.96 224.17 Td (ar) Tj ET Q q 0 0 0 rg BT 279.29 224.17 Td (get Percentage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 224.17 Td (Plan ) Tj ET Q q 0 0 0 rg BT 410.65 224.17 Td (Asset ) Tj ET Q q 0 0 0 rg BT 434.82 224.17 Td (Allocation at ) Tj ET Q q 0 0 0 rg BT 488.79 224.17 Td (Y) Tj ET Q q 0 0 0 rg BT 495.33 224.17 Td (ear) Tj ET Q q 0 0 0 rg BT 506.93 224.17 Td (-End) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.80 209.17 Td (Asset Category) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.20 209.17 Td (at ) Tj ET Q q 0 0 0 rg BT 276.73 209.17 Td (Y) Tj ET Q q 0 0 0 rg BT 283.27 209.17 Td (ear) Tj ET Q q 0 0 0 rg BT 294.87 209.17 Td (-End 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.00 209.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 209.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 194.17 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 194.17 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 194.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 194.17 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 194.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 194.17 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 194.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 179.17 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 179.17 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 179.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 179.17 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 179.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 179.17 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 179.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 164.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 164.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 164.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 164.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 164.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 164.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 164.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 149.17 Td (T) Tj ET Q q 0 0 0 rg BT 63.41 149.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 149.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.65 149.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 149.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 149.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 149.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 149.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.00 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 500.26 121.00 Td (ficulties for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.00 Td (fair value assessment. ) Tj ET Q q 0 0 0 rg BT 142.29 109.00 Td (The Company currently has no allocation to potentially illiquid or potentially dif) Tj ET Q q 0 0 0 rg BT 464.54 109.00 Td (ficult to value assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.00 Td (such as hedge funds, venture capital, private equity) Tj ET Q q 0 0 0 rg BT 254.00 97.00 Td (, and real estate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.00 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 61.00 Td (the discount rate assumption.) 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 (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 50.00 730.10 Td (plan assets. ) Tj ET Q q 0 0 0 rg BT 100.00 730.10 Td (A) Tj ET Q q 0 0 0 rg BT 106.67 730.10 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 50.00 718.10 Td (classes. ) Tj ET Q q 0 0 0 rg BT 85.09 718.10 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 50.00 706.10 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 484.68 706.10 Td (This provides an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (additional means for correcting for the ef) Tj ET Q q 0 0 0 rg BT 214.19 694.10 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 50.00 682.10 Td (return levels and behavior that are more likely to prevail over long periods.) Tj ET Q q 0 0 0 rg BT 355.00 682.10 Td (W) Tj ET Q q 0 0 0 rg BT 364.03 682.10 Td (ith that, the Company has assumed an expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 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 215.50 670.10 Td (5.75 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.93 670.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 670.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.30 670.10 Td ( net periodic benefit cost, down from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.82 670.10 Td (5.90 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.24 670.10 Td ( in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (prior year) Tj ET Q q 0 0 0 rg BT 88.59 658.10 Td (. ) Tj ET Q q 0 0 0 rg BT 95.91 658.10 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 50.00 646.10 Td (income securities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (The Company uses the ) Tj ET Q q 0 0 0 rg BT 143.32 622.10 Td (Aon Hewitt ) Tj ET Q q 0 0 0 rg BT 192.21 622.10 Td (AA) Tj ET Q q 0 0 0 rg BT 206.10 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 208.05 622.10 Td (Above Median curve to determine the discount rate.) Tj ET Q q 0 0 0 rg BT 420.76 622.10 Td (All cash flow obligations under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (plan are matched to bonds in the ) Tj ET Q q 0 0 0 rg BT 181.91 610.10 Td (Aon Hewitt universe of liquid, high-quality) Tj ET Q q 0 0 0 rg BT 355.12 610.10 Td (, non-callable / non-putable corporate bonds with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 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 50.00 574.10 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 50.00 562.10 Td (benefit cost for the domestic pension plans and other postretirement benefit plan. ) Tj ET Q q 0 0 0 rg BT 378.61 562.10 Td (This change compared to the previous ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (method resulted in dif) Tj ET Q q 0 0 0 rg BT 137.86 550.10 Td (ferent service and interest components of net periodic benefit cost in 2016. Historically) Tj ET Q q 0 0 0 rg BT 488.21 550.10 Td (, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (estimated these service and interest cost components utilizing a single weighted-average discount rate derived from the yield ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (curve used to measure the benefit obligation at the beginning of the period. ) Tj ET Q q 0 0 0 rg BT 355.00 526.10 Td (The Company elected to utilize a full yield curve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (approach in the estimation of these components by applying the specific spot rates along the yield curve used in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (determination of the benefit obligation to the relevant projected cash flows. ) Tj ET Q q 0 0 0 rg BT 356.11 502.10 Td (The Company made this change to provide a more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (precise measurement of service and interest costs by improving the correlation between projected benefit cash flows to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (corresponding spot yield curve rates. ) Tj ET Q q 0 0 0 rg BT 202.28 478.10 Td (This change does not af) Tj ET Q q 0 0 0 rg BT 297.07 478.10 Td (fect the measurement of the Company) Tj ET Q q 0 0 0 rg BT 452.29 478.10 Td (s domestic pension and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 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 496.98 466.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 442.10 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 50.00 430.10 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 50.00 418.10 Td (up to certain maximums.) Tj ET Q q 0 0 0 rg BT 154.24 418.10 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 50.00 406.10 Td (basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 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 50.00 370.10 Td (prices that are readily available.) Tj ET Q q 0 0 0 rg BT 182.25 370.10 Td (The U.S. ) Tj ET Q q 0 0 0 rg BT 220.40 370.10 Td (T) Tj ET Q q 0 0 0 rg BT 226.16 370.10 Td (reasury securities and German plan assets are designated as Level 2 inputs. ) Tj ET Q q 0 0 0 rg BT 530.87 370.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 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 50.00 346.10 Td (Supervisory ) Tj ET Q q 0 0 0 rg BT 100.28 346.10 Td (Authority) Tj ET Q q 0 0 0 rg BT 138.52 346.10 Td (. ) Tj ET Q q 0 0 0 rg BT 145.83 346.10 Td (The U.S. ) Tj ET Q q 0 0 0 rg BT 183.98 346.10 Td (T) Tj ET Q q 0 0 0 rg BT 189.74 346.10 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 50.00 322.10 Td (The fair values of the Company) Tj ET Q q 0 0 0 rg BT 179.68 322.10 Td (s pension plan assets for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.39 322.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.39 322.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.83 322.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.83 322.10 Td ( by asset category are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 233.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 233.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 233.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 233.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 233.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 233.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 233.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 233.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 233.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 203.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 203.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 203.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 203.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 203.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 203.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 203.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 203.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 203.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 173.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 173.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 173.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 173.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 173.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 173.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 173.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 173.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 173.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 144.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 144.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 144.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 144.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 144.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 144.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 144.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 144.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 144.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 114.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 114.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 114.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 114.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 114.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 114.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 114.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 114.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 114.60 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 269.5 233.60000000000002 m 339.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 233.60000000000002 m 413.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 233.60000000000002 m 487.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 233.60000000000002 m 561.5 233.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 99.60000000000002 m 339.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 99.60000000000002 m 413.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 99.60000000000002 m 487.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 99.60000000000002 m 561.5 99.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 85.60000000000002 m 339.5 85.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 83.60000000000002 m 339.5 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 85.60000000000002 m 413.5 85.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 83.60000000000002 m 413.5 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 85.60000000000002 m 487.5 85.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 83.60000000000002 m 487.5 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 85.60000000000002 m 561.5 85.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 83.60000000000002 m 561.5 83.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 238.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 238.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.80 278.27 Td (Quoted Prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.80 268.27 Td (in ) Tj ET Q q 0 0 0 rg BT 369.53 268.27 Td (Active ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.50 258.27 Td (Markets for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.45 248.27 Td (Identical ) Tj ET Q q 0 0 0 rg BT 383.38 248.27 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.50 238.27 Td (\(Level 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.05 278.27 Td (Significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.60 268.27 Td (Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.20 258.27 Td (Observable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.50 248.27 Td (Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 238.27 Td (\(Level 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.05 268.27 Td (Significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.20 258.27 Td (Unobservable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.25 248.27 Td (Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 238.27 Td (\(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 223.27 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 208.27 Td (Domestic equity mutual funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 208.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 208.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 208.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 208.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 208.27 Td ($) Tj ET Q BT /F1 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rg BT 397.15 546.17 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 546.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 546.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 531.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 531.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 531.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 531.17 Td (153.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 531.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 531.17 Td (128.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 531.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 531.17 Td (24.5) 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 about ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.84 503.00 Td ($1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.23 503.00 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.01 503.00 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.01 503.00 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 (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 409.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 409.17 Td (1) Tj ET Q q 0 0 0 rg BT 457.15 409.17 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 409.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 409.17 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 394.17 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 394.17 Td (1) Tj ET Q q 0 0 0 rg BT 457.15 394.17 Td (1.3) 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 (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 379.17 Td (1) Tj ET Q q 0 0 0 rg BT 457.15 379.17 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 379.17 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 364.17 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 364.17 Td (10.8) 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 (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 349.17 Td (10.7) 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 (Y) Tj ET Q q 0 0 0 rg BT 58.22 334.17 Td (ears 2024 through 2028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 334.17 Td (58.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 334.17 Td (3.4) 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 (2018) 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 (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.74 306.00 Td (, and 2016. ) 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) Tj ET Q q 0 0 0 rg BT 91.67 294.00 Td (s cash contributions are allocated to participant) Tj ET Q q 0 0 0 rg BT 282.71 294.00 Td (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 (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 237.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 237.17 Td (2016) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 222.17 Td (6.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 222.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 222.17 Td (6.7) 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 (5.9) 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 (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 161.17 Td (2017) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 146.17 Td (30.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 146.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 146.17 Td (29.6) 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 (9.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 131.17 Td (9.5) 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 (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 116.17 Td (1.9) 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 (9.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 101.17 Td (9.1) 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 (13.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 86.17 Td (13.8) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 71.17 Td (64.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 71.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 71.17 Td (63.9) 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 (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 697.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 697.42 Td (2016) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 682.42 Td (54.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 682.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 682.42 Td (47.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 682.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 682.42 Td (45.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 667.42 Td (Foreign) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 667.42 Td (65.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 667.42 Td (57.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 667.42 Td (58.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 652.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 652.42 Td (120.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 652.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 652.42 Td (104.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 652.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 652.42 Td (104.1) 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 (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 591.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 591.42 Td (2016) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 561.42 Td (4.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 561.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 561.42 Td (29.7) 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 (9.6) 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 (14.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 546.42 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 546.42 Td (1) Tj ET Q q 0 0 0 rg BT 545.15 546.42 Td (1.4) 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 (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 531.42 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 531.42 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 516.42 Td (T) Tj ET Q q 0 0 0 rg BT 69.41 516.42 Td (otal current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 516.42 Td (20.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 516.42 Td (41.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 516.42 Td (21.8) 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 (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 486.47 Td (\(10.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 486.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 486.42 Td (2.9) 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 (\(2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 471.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 471.47 Td (\(4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 471.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 471.47 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 471.42 Td (\)) 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 365.80 456.47 Td (\(6.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 456.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 456.42 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 456.42 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 441.42 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 441.42 Td (otal 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 365.80 441.47 Td (\(5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 441.42 Td (\)) 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 448.80 441.47 Td (\(15.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 441.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 441.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 441.42 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 426.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 426.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 426.42 Td (14.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 426.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 426.42 Td (26.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 426.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 426.42 Td (24.8) 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 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 158.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 158.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 158.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 158.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 158.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 158.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 158.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 128.75 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 128.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 128.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 128.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 128.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 128.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 128.75 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 389.5 113.75 m 473.5 113.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 113.75 m 561.5 113.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 113.75 m 385.5 113.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 99.75 m 385.5 99.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 97.75 m 385.5 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 99.75 m 473.5 99.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 97.75 m 473.5 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 99.75 m 561.5 99.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 97.75 m 561.5 97.75 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 (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 353.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 353.42 Td (2016) 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 (21.0) 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 364.15 323.42 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 323.42 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 323.47 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 323.42 Td (\)) 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 (\(3.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 308.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.80 308.47 Td (\(10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 308.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 308.47 Td (\(8.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 308.42 Td (\)) 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 (\(0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 293.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 293.47 Td (\(0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 293.42 Td (\)) 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 (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 278.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 278.47 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 278.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 278.47 Td (\(2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 278.42 Td (\)) 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 366.65 253.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 253.47 Td (\(1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 253.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 253.42 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 238.42 Td (V) Tj ET Q q 0 0 0 rg BT 64.67 238.42 Td (aluation allowance on state and foreign deferred tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 238.47 Td (\(2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 238.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 238.47 Td (\(1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 238.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 238.42 Td (2.4) 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 (\(2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 223.42 Td (\)) 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 (\(1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 208.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 208.47 Td (\(1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 208.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 208.47 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 208.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 193.42 Td (Realized foreign currency loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 193.47 Td (\(0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 193.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 193.47 Td (\(1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 193.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 193.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 178.42 Td (Other items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 178.42 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 178.47 Td (\(1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 178.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 178.47 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 178.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 163.42 Td (Impact of the ) Tj ET Q q 0 0 0 rg BT 107.72 163.42 Td (T) Tj ET Q q 0 0 0 rg BT 113.39 163.42 Td (ax ) Tj ET Q q 0 0 0 rg BT 124.70 163.42 Td (Act) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 148.42 Td (T) Tj ET Q q 0 0 0 rg BT 63.93 148.42 Td (ransition tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 148.42 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 148.42 Td (18.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 148.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 133.42 Td (Deferred tax ef) Tj ET Q q 0 0 0 rg BT 118.42 133.42 Td (fects) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 133.47 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 133.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 133.47 Td (\(8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 133.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 133.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 118.42 Td (Foreign Derived Intangible Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.80 118.47 Td (\(2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 118.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 118.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 118.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 103.42 Td (Ef) Tj ET Q q 0 0 0 rg BT 61.26 103.42 Td (fective tax rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 103.42 Td (12.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 103.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 103.42 Td (24.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 103.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 103.42 Td (23.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 103.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 75.63 75.25 Td (fective tax rate continues to be lower than the statutory rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.09 75.25 Td (21 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.02 75.25 Td ( primarily due to foreign earnings taxed at rates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.25 Td (below the U.S. statutory rate, as well as recognition of the deduction for Foreign Derived Intangible Income, and certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 51.25 Td (discrete events.) Tj ET Q 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 50.00 730.10 Td (The U.S. ) Tj ET Q q 0 0 0 rg BT 88.15 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 93.56 730.10 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 163.01 730.10 Td (Act \(T) Tj ET Q q 0 0 0 rg BT 188.69 730.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 200.07 730.10 Td (Act\) was enacted on December 22, 2017 and introduced significant changes to U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (income tax law) Tj ET Q q 0 0 0 rg BT 110.44 718.10 Td (. Ef) Tj ET Q q 0 0 0 rg BT 124.70 718.10 Td (fective in 2018, the ) Tj ET Q q 0 0 0 rg BT 204.21 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 209.62 718.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 221.01 718.10 Td (Act reduced the U.S. statutory tax rate from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.73 718.10 Td (35 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 718.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.43 718.10 Td (21 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.36 718.10 Td (, modified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (existing provisions, and created new provisions including a U.S. based foreign export incentive referred to as Foreign Derived ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Intangible Income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 670.10 Td (s accounting for all aspects of the ) Tj ET Q q 0 0 0 rg BT 245.87 670.10 Td (T) Tj ET Q q 0 0 0 rg BT 251.28 670.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 262.67 670.10 Td (Act is complete. ) Tj ET Q q 0 0 0 rg BT 329.88 670.10 Td (As noted at year) Tj ET Q q 0 0 0 rg BT 394.93 670.10 Td (-end 2017, the Company was able to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (reasonably estimate certain ef) Tj ET Q q 0 0 0 rg BT 168.93 658.10 Td (fects and, therefore, recorded provisional adjustments associated with the deemed repatriation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (transition tax and the remeasurement of deferred taxes. ) Tj ET Q q 0 0 0 rg BT 272.23 646.10 Td (The Company made additional measurement period adjustments of net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td ($0.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.89 634.10 Td ( expense related to these items during 2018 as as result of additional information received. ) Tj ET Q q 0 0 0 rg BT 464.99 634.10 Td (The Company recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (additional expense of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.03 622.10 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.92 622.10 Td ( related to the deemed repatriation transition tax and a benefit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.26 622.10 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 622.10 Td ( related to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (remeasurement of deferred taxes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (The Company recorded discrete excess tax benefits from share-based compensation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.48 586.10 Td ($1.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.37 586.10 Td ( in the twelve-month period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (ended December 31, 2018 pursuant to ) Tj ET Q q 0 0 0 rg BT 204.13 574.10 Td (ASU 2016-09. ) Tj ET Q q 0 0 0 rg BT 264.41 574.10 Td (ASU 2016-09 can add variability to the Company) Tj ET Q q 0 0 0 rg BT 466.32 574.10 Td (s provision for income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (taxes, mainly due to the timing of stock option exercises, vesting of restricted stock, and the stock price.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (During the twelve-month period ended December 31, 2018, the Company recorded a net discrete benefit related to the release ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (of valuation allowances on deferred taxes of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.65 526.10 Td ($4.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.54 526.10 Td ( in domestic and foreign jurisdictions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Significant components of the Company) Tj ET Q q 0 0 0 rg BT 214.42 502.10 Td (s deferred tax assets and liabilities were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 464.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 464.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 464.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 464.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 464.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 434.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 434.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 434.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 434.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 434.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 404.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 404.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 404.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 374.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 374.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 374.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 374.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 374.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 344.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 344.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 344.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 344.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 344.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 314.60 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 314.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 314.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 314.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 314.60 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 389.5 464.6 m 473.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 464.6 m 561.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 389.6 m 473.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 389.6 m 561.5 389.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 314.6 m 473.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 314.6 m 561.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 299.6 m 473.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 299.6 m 561.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 285.6 m 473.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 283.6 m 473.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 285.6 m 561.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 283.6 m 561.5 283.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 469.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 469.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 469.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 454.27 Td (Deferred tax assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 454.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 454.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 439.27 Td (Accrued expenses and reserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 439.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 439.27 Td (9.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 439.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 439.27 Td (9.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 424.27 Td (Compensation and employee benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 424.27 Td (16.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 424.27 Td (17.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 409.27 Td (Other items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 409.27 Td (18.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 409.27 Td (15.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 394.27 Td (V) Tj ET Q q 0 0 0 rg BT 64.67 394.27 Td (aluation allowance on state and foreign deferred tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 394.32 Td (\(6.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 394.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 394.32 Td (\(9.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 394.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 379.27 Td (T) Tj ET Q q 0 0 0 rg BT 69.76 379.27 Td (otal deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 379.27 Td (36.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 379.27 Td (32.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 364.27 Td (Deferred tax liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.00 364.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 364.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 349.27 Td (Accelerated depreciation on fixed assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 349.27 Td (12.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 349.27 Td (12.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 334.27 Td (Amortization of intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 334.27 Td (45.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 334.27 Td (41.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 319.27 Td (Other items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 319.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 319.27 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 304.27 Td (T) Tj ET Q q 0 0 0 rg BT 69.41 304.27 Td (otal deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 304.27 Td (57.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 304.27 Td (54.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 289.27 Td (Net deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 289.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 289.32 Td (\(20.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 289.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 289.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 289.32 Td (\(22.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 289.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.10 Td (The Company assesses the available positive and negative evidence to estimate whether suf) Tj ET Q q 0 0 0 rg BT 416.37 261.10 Td (ficient future taxable income will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.10 Td (generated to permit use of the existing deferred tax assets. ) Tj ET Q q 0 0 0 rg BT 284.09 249.10 Td (A) Tj ET Q q 0 0 0 rg BT 290.76 249.10 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 50.00 237.10 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 383.50 237.10 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 237.10 Td (-year period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.96 237.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.54 237.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.10 Td (Such objective evidence limits the ability to consider other subjective evidence, such as projections for future growth. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.10 Td (On the basis of this evaluation, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.03 201.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.61 201.10 Td (, a valuation allowance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.12 201.10 Td ($6.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.02 201.10 Td ( has been recorded to recognize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.10 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 394.98 189.10 Td (The Company has foreign income tax net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 177.10 Td (operating loss \(NOL\) carryforwards of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.32 177.10 Td ($10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.21 177.10 Td ( and state income tax NOL) Tj ET Q q 0 0 0 rg BT 377.31 177.10 Td ( and credit carryforwards of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.42 177.10 Td ($6.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.31 177.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 165.10 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 (2018-2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 723.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 723.17 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 708.17 Td (2020-2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 708.17 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 693.17 Td (2025-2029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 693.17 Td (4.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 678.17 Td (2030-2034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 678.17 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 663.17 Td (2035-2039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 663.17 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 648.17 Td (Unlimited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 648.17 Td (7.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 633.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 633.17 Td (16.9) 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 ($5.0 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 ($1.8 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 (As of December 31, 2018, the Company has accumulated undistributed earnings generated by our foreign subsidiaries of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 533.00 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 533.00 Td ($381.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.15 533.00 Td (. Because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.47 533.00 Td ($339.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.36 533.00 Td ( of such earnings have previously been subject to the one-time transition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 521.00 Td (tax on foreign earnings required by the 2017 ) Tj ET Q q 0 0 0 rg BT 230.32 521.00 Td (T) Tj ET Q q 0 0 0 rg BT 235.73 521.00 Td (ax ) Tj ET Q q 0 0 0 rg BT 247.12 521.00 Td (Act, any additional taxes due with respect to such earnings or the excess of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 509.00 Td (amount for financial reporting over the tax basis of our foreign investments would generally be limited to foreign and state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 497.00 Td (taxes. ) Tj ET Q q 0 0 0 rg BT 75.37 497.00 Td (W) Tj ET Q q 0 0 0 rg BT 84.00 497.00 Td (e intend, however) Tj ET Q q 0 0 0 rg BT 154.97 497.00 Td (, to indefinitely reinvest these earnings and expect future U.S. cash generation to be suf) Tj ET Q q 0 0 0 rg BT 503.84 497.00 Td (ficient to meet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.00 Td (future U.S. cash needs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 461.00 Td (As of the beginning of fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.35 461.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.35 461.00 Td (, the Company had gross unrecognized tax benefits of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.07 461.00 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.96 461.00 Td (, excluding accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 449.00 Td (interest and penalties.) Tj ET Q q 0 0 0 rg BT 141.73 449.00 Td (The unrecognized tax benefits increased due to uncertain tax positions identified in the current year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.00 Td (based on evaluations made during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.57 437.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.57 437.00 Td ( which were of) Tj ET Q q 0 0 0 rg BT 268.09 437.00 Td (fset by statue expirations. ) Tj ET Q q 0 0 0 rg BT 375.11 437.00 Td (The Company had gross unrecognized tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.00 Td (benefits, excluding accrued interest and penalties, of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.42 425.00 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.31 425.00 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.47 425.00 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.05 425.00 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 (2018) 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 (2017) 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 (2016) 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 (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 356.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 356.17 Td (2016) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 341.17 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 341.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 341.17 Td (1.3) 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 (2.4) 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 371.65 326.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 326.17 Td (0.4) 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 (0.3) 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 (0.1) 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 371.65 295.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 295.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 295.22 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 295.17 Td (\)) 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 (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 280.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 280.22 Td (\(0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 280.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 280.22 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 280.17 Td (\)) 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 ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 250.17 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 250.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 250.17 Td (1.3) 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 (1.3) 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 ($1.0 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 ($1.3 ) 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 ($1.3 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 (2018) 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 (2017) 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 (2016) 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 (2018) 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 ($0.3 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, 2018) 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 (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.87 162.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.81 162.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.39 162.00 Td ( of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.98 162.00 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.87 162.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.87 162.00 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.76 162.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.00 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 150.00 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.83 150.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 168.49 150.00 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, 2018) 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 2015 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 (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.52 102.00 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 ($0.4 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 389.5 587.6 m 473.5 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 587.6 m 561.5 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 587.6 m 473.5 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 557.6 m 473.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 557.6 m 561.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 557.6 m 473.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 543.6 m 473.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 541.6 m 473.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 557.6 m 561.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 543.6 m 561.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 541.6 m 561.5 541.6 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 (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 697.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 682.27 Td (New ) Tj ET Q q 0 0 0 rg BT 73.20 682.27 Td (Y) Tj ET Q q 0 0 0 rg BT 79.73 682.27 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 113.94 682.27 Td (Agreement) 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 (Credit ) Tj ET Q q 0 0 0 rg BT 79.22 667.27 Td (Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 667.27 Td (76.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 667.27 Td (67.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 652.27 Td (Prudential ) Tj ET Q q 0 0 0 rg BT 95.33 652.27 Td (Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 652.27 Td (30.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 652.27 Td (60.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 637.27 Td (T) Tj ET Q q 0 0 0 rg BT 57.76 637.27 Td (ax increment financing debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 637.27 Td (19.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 637.27 Td (20.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 622.27 Td (Capital leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 622.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 622.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 607.27 Td (Foreign subsidiary debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 607.27 Td (5.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 607.27 Td (3.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 592.27 Td (Less: unamortized debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 592.32 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 592.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 592.32 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 592.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 577.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 577.27 Td (206.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 577.27 Td (226.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 562.27 Td (Less current maturities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.80 562.32 Td (\(1) Tj ET Q q 0 0 0 rg BT 452.13 562.32 Td (12.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 562.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 562.32 Td (\(100.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 562.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 547.27 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 547.27 Td (94.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 547.27 Td (125.6) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 519.10 Td (Debt outstanding at December 31, 2018, excluding unamortized debt issuance costs, matures as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 470.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.50 470.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 470.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 470.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 470.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 470.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 470.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 470.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 470.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 440.60 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 141.50 440.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.50 440.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.50 440.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 440.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 440.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 440.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 440.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 440.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 440.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 440.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 440.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 440.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 440.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 440.60 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 145.5 470.6 m 201.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 470.6 m 261.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 470.6 m 321.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 470.6 m 381.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 470.6 m 385.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 470.6 m 441.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 470.6 m 501.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 470.6 m 561.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 470.6 m 201.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 470.6 m 261.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 470.6 m 321.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 470.6 m 381.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 470.6 m 441.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 470.6 m 501.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 470.6 m 561.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 440.6 m 201.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 440.6 m 261.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 440.6 m 321.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 440.6 m 381.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 440.6 m 441.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 440.6 m 501.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 440.6 m 561.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 426.6 m 201.5 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145.5 424.6 m 201.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 426.6 m 261.5 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 424.6 m 261.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 426.6 m 321.5 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 424.6 m 321.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 426.6 m 381.5 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 424.6 m 381.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 426.6 m 441.5 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 424.6 m 441.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 426.6 m 501.5 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 424.6 m 501.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 426.6 m 561.5 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 424.6 m 561.5 424.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 475.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.75 475.27 Td (T) Tj ET Q q 0 0 0 rg BT 168.51 475.27 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.00 475.27 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.00 475.27 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 475.27 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 475.27 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 475.27 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 475.27 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 460.27 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.15 460.27 Td (206.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.15 460.27 Td (1) Tj ET Q q 0 0 0 rg BT 240.15 460.27 Td (12.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 460.27 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 460.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 460.27 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 460.27 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 460.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 460.27 Td (89.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 445.27 Td (Capital leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.15 445.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 445.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 445.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.65 445.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 445.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 445.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 445.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 430.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.00 430.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.15 430.27 Td (206.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.00 430.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.15 430.27 Td (1) Tj ET Q q 0 0 0 rg BT 240.15 430.27 Td (12.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.00 430.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.15 430.27 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 430.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 430.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 430.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 430.27 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 430.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 430.27 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 430.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 430.27 Td (89.4) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 402.10 Td (New ) Tj ET Q q 0 0 0 rg BT 70.65 402.10 Td (Y) Tj ET Q q 0 0 0 rg BT 75.65 402.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 110.83 402.10 Td (Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 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 495.62 390.10 Td ( Investors LLC, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.10 Td (an af) Tj ET Q q 0 0 0 rg BT 69.53 378.10 Td (filiate of New ) Tj ET Q q 0 0 0 rg BT 127.19 378.10 Td (Y) Tj ET Q q 0 0 0 rg BT 133.41 378.10 Td (ork Life, and each of the undersigned holders of Notes \(the New ) Tj ET Q q 0 0 0 rg BT 397.67 378.10 Td (Y) Tj ET Q q 0 0 0 rg BT 403.89 378.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 438.32 378.10 Td (Agreement\) for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.17 378.10 Td ($150.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 366.10 Td ( maximum aggregate principal borrowing capacity) Tj ET Q q 0 0 0 rg BT 280.67 366.10 Td (. 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 50.00 354.10 Td (Amendment to the Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 258.29 354.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 310.03 354.10 Td (The ) Tj ET Q q 0 0 0 rg BT 327.52 354.10 Td (Amendment was intended to make the covenants within ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (the New ) Tj ET Q q 0 0 0 rg BT 85.73 342.10 Td (Y) Tj ET Q q 0 0 0 rg BT 91.95 342.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 126.38 342.10 Td (Agreement consistent with the covenants that were modified in the ) Tj ET Q q 0 0 0 rg BT 396.12 342.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 420.29 342.10 Td (Amended and Restated Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (Agreement \(the Credit ) Tj ET Q q 0 0 0 rg BT 146.35 330.10 Td (Agreement\). On September 26, 2018 the Company entered into the Second ) Tj ET Q q 0 0 0 rg BT 458.22 330.10 Td (Amendment to the Note ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 159.42 318.10 Td (Agreement which increased the aggregate borrowing capacity to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.36 318.10 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.25 318.10 Td ( and authorized the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (issuance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.21 306.10 Td ($75.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.10 306.10 Td ( of fixed rate senior noted due September 26, 2025. ) Tj ET Q q 0 0 0 rg BT 361.14 306.10 Td (These senior notes bear an interest rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.96 306.10 Td (4.04 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.42 294.10 Td ( with interest-only payments due semi-annually) Tj ET Q q 0 0 0 rg BT 269.01 294.10 Td (. ) Tj ET Q q 0 0 0 rg BT 276.33 294.10 Td (The proceeds from the issuance of the notes were used to pay of) Tj ET Q q 0 0 0 rg BT 532.72 294.10 Td (f ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (existing variable rate indebtedness with New ) Tj ET Q q 0 0 0 rg BT 231.80 282.10 Td (Y) Tj ET Q q 0 0 0 rg BT 238.02 282.10 Td (ork Life. ) Tj ET Q q 0 0 0 rg BT 277.45 282.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.89 282.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.48 282.10 Td (, there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.02 282.10 Td ($125.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.91 282.10 Td ( remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td (borrowing capacity under the New ) Tj ET Q q 0 0 0 rg BT 190.97 270.10 Td (Y) Tj ET Q q 0 0 0 rg BT 197.19 270.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 231.62 270.10 Td (Agreement. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 246.10 Td (Project Bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.10 Td (On December31, 2012, the Company) Tj ET Q q 0 0 0 rg BT 201.26 234.10 Td (, ) Tj ET Q q 0 0 0 rg BT 205.71 234.10 Td (Allen County) Tj ET Q q 0 0 0 rg BT 259.22 234.10 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 50.00 222.10 Td (and Loan ) Tj ET Q q 0 0 0 rg BT 89.43 222.10 Td (Agreement. Under the agreement, ) Tj ET Q q 0 0 0 rg BT 229.65 222.10 Td (Allen County) Tj ET Q q 0 0 0 rg BT 283.17 222.10 Td (, Indiana issued a series of Project Bonds entitled T) Tj ET Q q 0 0 0 rg BT 492.42 222.10 Td (axable Economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.10 Td (Development Bonds, Series 2012 \(Franklin Electric Co., Inc. Project\). ) Tj ET Q q 0 0 0 rg BT 340.03 210.10 Td (The aggregate principal amount of the Project Bonds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.10 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 382.68 198.10 Td ($25.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.57 198.10 Td (. ) Tj ET Q q 0 0 0 rg BT 443.89 198.10 Td (The Company then borrowed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.10 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 50.00 174.10 Td (installation and equipping of the new Global Corporate Headquarters and Engineering Center) Tj ET Q q 0 0 0 rg BT 423.50 174.10 Td (. ) Tj ET Q q 0 0 0 rg BT 428.32 174.10 Td (These Project Notes \(T) Tj ET Q q 0 0 0 rg BT 524.53 174.10 Td (ax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.10 Td (increment financing debt\) bear interest at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.59 162.10 Td (3.6 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.01 162.10 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 50.00 150.10 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 50.00 138.10 Td (10, 2013, and concluding on January 10, 2033. ) Tj ET Q q 0 0 0 rg BT 242.29 138.10 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 50.00 126.10 Td (financing of the new Global Corporate Headquarters and Engineering Center) Tj ET Q q 0 0 0 rg BT 357.39 126.10 Td (. On May 5, 2015, the Company entered into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.10 Td (Amendment No. 1 to the Bond Purchase and Loan ) Tj ET Q q 0 0 0 rg BT 253.85 114.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 305.60 114.10 Td (This amendment provided for debt repayment guarantees from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.10 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 78.10 Td (Prudential ) Tj ET Q q 0 0 0 rg BT 96.03 78.10 Td (Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.17 66.10 Td (April9, 2007, the Company entered into the ) Tj ET Q q 0 0 0 rg BT 243.03 66.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 469.63 66.10 Td (Agreement \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 54.10 Td (Prudential ) Tj ET Q q 0 0 0 rg BT 97.49 54.10 Td (Agreement\) in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.50 54.10 Td ($175.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.39 54.10 Td (. Under the Prudential ) Tj ET Q q 0 0 0 rg BT 372.15 54.10 Td (Agreement, the Company issued notes in an ) 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 (aggregate principal amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.73 742.10 Td ($1) Tj ET Q q 0 0 0 rg BT 182.36 742.10 Td (10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.25 742.10 Td ( on ) Tj ET Q q 0 0 0 rg BT 245.70 742.10 Td (April30, 2007 \(the B-1 Notes\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.33 742.10 Td ($40.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.22 742.10 Td ( on September7, 2007 \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (B-2 Notes\). ) Tj ET Q q 0 0 0 rg BT 110.36 730.10 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 301.42 730.10 Td (5.79 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.84 730.10 Td ( and had at issuance an average life of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.49 730.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.49 730.10 Td ( years with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (a final maturity in 2019.On July22, 2010, the Company entered into ) Tj ET Q q 0 0 0 rg BT 331.35 718.10 Td (Amendment No. 3 to the Prudential ) Tj ET Q q 0 0 0 rg BT 476.05 718.10 Td (Agreement to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (increase its borrowing capacity by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.67 706.10 Td ($25.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.56 706.10 Td (.On December14, 201) Tj ET Q q 0 0 0 rg BT 339.00 706.10 Td (1, the Company entered into ) Tj ET Q q 0 0 0 rg BT 454.53 706.10 Td (Amendment No. 4 to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 81.39 694.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 307.99 694.10 Td (Agreement to redefine the debt to EBITDA) Tj ET Q q 0 0 0 rg BT 481.27 694.10 Td ( ratio covenant in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (order to be equivalent to that under the ) Tj ET Q q 0 0 0 rg BT 207.17 682.10 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 50.00 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.28 670.10 Td (America entered into an amendment to the Second ) Tj ET Q q 0 0 0 rg BT 264.65 670.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 491.26 670.10 Td (Agreement to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (extend the ef) Tj ET Q q 0 0 0 rg BT 101.46 658.10 Td (fective date to December 31, 2015. On May 5, 2015, the Company entered into ) Tj ET Q q 0 0 0 rg BT 422.76 658.10 Td (Amendment No. 6 to the Second ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 276.61 646.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 330.85 646.10 Td (This amendment provided for debt repayment guarantees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 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 50.00 622.10 Td (2015, the Company entered into a ) Tj ET Q q 0 0 0 rg BT 187.84 622.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 212.01 622.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 438.61 622.10 Td (Agreement with Prudential to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (increase the total borrowing capacity from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 610.10 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.04 610.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.82 610.10 Td ($250.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.71 610.10 Td (. On October 28, 2016, the Company entered into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Amendment No. 1 to the ) Tj ET Q q 0 0 0 rg BT 151.47 598.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 175.63 598.10 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 0 rg BT 402.24 598.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 453.98 598.10 Td (This amendment was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (intended to make the covenants within the Prudential ) Tj ET Q q 0 0 0 rg BT 264.39 586.10 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 50.00 574.10 Td (Agreement \(below\). ) Tj ET Q q 0 0 0 rg BT 134.97 574.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.41 574.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 574.10 Td (, the Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.93 574.10 Td ($150.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.82 574.10 Td ( borrowing capacity available under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Prudential ) Tj ET Q q 0 0 0 rg BT 93.05 562.10 Td (Agreement.Principal installments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.24 562.10 Td ($30.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.13 562.10 Td ( are payable annually commencing on ) Tj ET Q q 0 0 0 rg BT 452.96 562.10 Td (April30, 2015 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (continuing to and including ) Tj ET Q q 0 0 0 rg BT 162.21 550.10 Td (April30, 2019, with any unpaid balance due at maturity) Tj ET Q q 0 0 0 rg BT 385.67 550.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 77.69 526.10 Td (Agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (On October 28, 2016, the Company entered into the ) Tj ET Q q 0 0 0 rg BT 260.05 514.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 284.21 514.10 Td (Amended and Restated Credit ) Tj ET Q q 0 0 0 rg BT 406.41 514.10 Td (Agreement \(the Credit ) Tj ET Q q 0 0 0 rg BT 502.76 514.10 Td (Agreement\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (The Credit ) Tj ET Q q 0 0 0 rg BT 94.99 502.10 Td (Agreement extended the maturity date of the Company) Tj ET Q q 0 0 0 rg BT 317.97 502.10 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 50.00 490.10 Td (increased the commitment amount from) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.45 490.10 Td ($150.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.34 490.10 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.12 490.10 Td ($300.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.01 490.10 Td (. ) Tj ET Q q 0 0 0 rg BT 350.33 490.10 Td (The Credit ) Tj ET Q q 0 0 0 rg BT 395.32 490.10 Td (Agreement provides that the Borrowers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 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 306.86 478.10 Td ($150.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.75 478.10 Td (\(not to exceed a total commitment of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.48 478.10 Td ($450.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 466.10 Td (\) subject to the conditions contained therein. ) Tj ET Q q 0 0 0 rg BT 258.29 466.10 Td (All of the Company) Tj ET Q q 0 0 0 rg BT 340.78 466.10 Td (s present and future material domestic subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (unconditionally guaranty all of the Borrowers) Tj ET Q q 0 0 0 rg BT 235.60 454.10 Td ( obligations under and in connection with the Credit ) Tj ET Q q 0 0 0 rg BT 445.83 454.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 494.71 454.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 544.61 454.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Company unconditionally guaranties all of the obligations of Franklin Electric B.V) Tj ET Q q 0 0 0 rg BT 381.14 442.10 Td (. under the Credit ) Tj ET Q q 0 0 0 rg BT 453.07 442.10 Td (Agreement. Under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 76.94 430.10 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 417.91 430.10 Td (0.100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.74 430.10 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.51 430.10 Td (0.275%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.34 430.10 Td (\(depending on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 106.38 418.10 Td (s leverage ratio\) of the aggregate commitment, payable quarterly in arrears. Borrowings may be made either at \(i\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (a Eurocurrency rate based on LIBOR plus an applicable mar) Tj ET Q q 0 0 0 rg BT 291.67 406.10 Td (gin of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.78 406.10 Td (0.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.61 406.10 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.39 406.10 Td (1.60%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.22 406.10 Td (\(depending on the Company) Tj ET Q q 0 0 0 rg BT 501.08 406.10 Td (s leverage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (ratio\) or \(ii\) an alternative base rate as defined in the Credit ) Tj ET Q q 0 0 0 rg BT 289.35 394.10 Td (Agreement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (As of December 31, 2018, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.07 370.10 Td ($76.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.96 370.10 Td ( outstanding borrowings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.18 370.10 Td ($5.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.07 370.10 Td ( in letters of credit outstanding, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 358.10 Td ($218.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.83 358.10 Td ( of available capacity under the Credit ) Tj ET Q q 0 0 0 rg BT 280.49 358.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 331.86 358.10 Td (As of December 31, 2017, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.93 358.10 Td ($67.0 ) 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 ( outstanding borrowings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.11 346.10 Td ($5.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.00 346.10 Td ( in letters of credit outstanding, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.41 346.10 Td ($227.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.30 346.10 Td ( of available capacity under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 76.94 334.10 Td (Agreement. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Covenants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 298.10 Td (s credit agreements contain customary financial covenants. ) Tj ET Q q 0 0 0 rg BT 347.77 298.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 407.49 298.10 Td (s most significant agreements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (restrictive covenants are in the New ) Tj ET Q q 0 0 0 rg BT 195.68 286.10 Td (Y) Tj ET Q q 0 0 0 rg BT 201.90 286.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 236.33 286.10 Td (Agreement, the Project Bonds, the Prudential ) Tj ET Q q 0 0 0 rg BT 419.63 286.10 Td (Agreement, and the Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (Agreement; each containing both af) Tj ET Q q 0 0 0 rg BT 193.10 274.10 Td (firmative and negative covenants. ) Tj ET Q q 0 0 0 rg BT 330.36 274.10 Td (The af) Tj ET Q q 0 0 0 rg BT 356.00 274.10 Td (firmative covenants relate to financial statements, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (notices of material events, conduct of business, inspection of property) Tj ET Q q 0 0 0 rg BT 329.00 262.10 Td (, maintenance of insurance, compliance with laws and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (most favored lender obligations. ) Tj ET Q q 0 0 0 rg BT 181.73 250.10 Td (The negative covenants include limitations on loans, advances and investments, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (granting of liens by the Company or its subsidiaries, as well as prohibitions on certain consolidations, mer) Tj ET Q q 0 0 0 rg BT 474.19 238.10 Td (gers, sales and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (transfers of assets. ) Tj ET Q q 0 0 0 rg BT 125.91 226.10 Td (The covenants also include financial requirements including a maximum leverage ratio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.45 226.10 Td (3.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.95 226.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.72 226.10 Td (1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.22 226.10 Td ( and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (minimum interest coverage ratio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.56 214.10 Td (3.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.06 214.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.84 214.10 Td (1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.34 214.10 Td (. Cross default is applicable with the Credit ) Tj ET Q q 0 0 0 rg BT 416.59 214.10 Td (Agreement, the Prudential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Agreement, the Project Bonds, and the New ) Tj ET Q q 0 0 0 rg BT 228.19 202.10 Td (Y) Tj ET Q q 0 0 0 rg BT 234.41 202.10 Td (ork Life ) Tj ET Q q 0 0 0 rg BT 268.85 202.10 Td (Agreement, but only if the Company is defaulting on an obligation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (exceeding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.03 190.10 Td ($10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.92 190.10 Td (. ) Tj ET Q q 0 0 0 rg BT 154.24 190.10 Td (The Company was in compliance with all financial covenants as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 190.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.58 190.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (12. SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 150.94 166.10 Td ( EQUITY) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Authorized Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (The Company has the authority to issue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.36 130.10 Td (65,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.36 130.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.36 130.10 Td ($.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.86 130.10 Td ( par value shares.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (Share Repurchases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 94.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.83 94.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 94.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.83 94.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.77 94.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.77 94.10 Td (, pursuant to a stock repurchase program authorized by the Company) Tj ET Q q 0 0 0 rg BT 446.30 94.10 Td (s Board of Directors, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (Company repurchased and retired the following amounts and number of shares:) Tj ET Q 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 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 733.50 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 733.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 733.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 733.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 733.50 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 733.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 733.50 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 301.5 733.5 m 385.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 733.5 m 473.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 733.5 m 561.5 733.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 738.17 Td (\(In millions, except share amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 738.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 738.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 738.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 723.17 Td (Repurchases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 723.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 723.17 Td (31.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 723.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 723.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 723.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 723.17 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 708.17 Td (Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 708.17 Td (749,614) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 708.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 708.17 Td (144,600) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.00 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 680.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 680.00 Td (, the Company retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.53 680.00 Td (62,908) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.03 680.00 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 50.00 668.00 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 459.97 668.00 Td (The Company also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 656.00 Td (retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.59 656.00 Td (8,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.09 656.00 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 50.00 644.00 Td (required restriction criteria or termination. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.93 644.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.93 644.00 Td (, the Company retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.62 644.00 Td (87,679) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.12 644.00 Td ( shares that were received from employees as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 632.00 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 50.00 620.00 Td (restricted awards.) Tj ET Q q 0 0 0 rg BT 125.34 620.00 Td (The Company also retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.98 620.00 Td (14,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.48 620.00 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 50.00 608.00 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 380.99 608.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.99 608.00 Td (, the Company retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.68 608.00 Td (96,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.18 608.00 Td ( shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 596.00 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 50.00 584.00 Td (of their stock options and release of their restricted awards. ) Tj ET Q q 0 0 0 rg BT 291.40 584.00 Td (The Company also retired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.04 584.00 Td (16,391) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.54 584.00 Td ( shares that had been previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 572.00 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 50.00 548.00 Td (In 2016, the Company early adopted ) Tj ET Q q 0 0 0 rg BT 198.02 548.00 Td (ASU 2016-09; therefore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.22 548.00 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.22 548.00 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 50.00 536.00 Td (exercises and award vests for fiscal years 2018, 2017 and 2016. ) 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 50.00 718.10 Td (13. ) Tj ET Q q 0 0 0 rg BT 64.45 718.10 Td (ACCUMULA) Tj ET Q q 0 0 0 rg BT 123.14 718.10 Td (TED OTHER COMPREHENSIVE INCOME/\(LOSS\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 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 49.50 603.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 603.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 603.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 603.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 603.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 603.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 572.60 321.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 572.60 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 572.60 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 572.60 69.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 572.60 6.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 572.60 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 541.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 541.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 541.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 541.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 541.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 541.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 511.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 511.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 511.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 511.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 511.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 511.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 481.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 481.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 481.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 481.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 481.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 481.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 451.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 451.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 451.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 451.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 451.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 451.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 421.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 421.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 421.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 421.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 421.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 421.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 391.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 391.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 391.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 391.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 391.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 391.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 361.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 361.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 361.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 361.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 361.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 361.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 331.60 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 331.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 331.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 331.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 331.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 331.60 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 370.5 603.6 m 436.5 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 603.6 m 510.5 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 603.6 m 561.5 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 603.6 m 436.5 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 603.6 m 510.5 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 603.6 m 561.5 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 541.6 m 436.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 541.6 m 510.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 541.6 m 561.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 541.6 m 436.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 526.6 m 436.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 541.6 m 510.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 526.6 m 510.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 541.6 m 561.5 541.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 526.6 m 561.5 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 451.6 m 436.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 451.6 m 510.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 451.6 m 561.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 451.6 m 436.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 436.6 m 436.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 451.6 m 510.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 436.6 m 510.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 451.6 m 561.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 436.6 m 561.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 361.6 m 436.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 361.6 m 510.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 361.6 m 561.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 361.6 m 436.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 346.6 m 436.5 346.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 361.6 m 510.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 346.6 m 510.5 346.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 361.6 m 561.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 346.6 m 561.5 346.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 331.6 m 436.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 317.6 m 436.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 315.6 m 436.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 331.6 m 510.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 317.6 m 510.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 315.6 m 510.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 331.6 m 561.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 317.6 m 561.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 315.6 m 561.5 315.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 608.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.40 638.27 Td (Foreign) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.35 628.27 Td (Currency) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.40 618.27 Td (T) Tj ET Q q 0 0 0 rg BT 386.33 618.27 Td (ranslation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.70 608.27 Td (Adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 648.27 Td (Pension and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.20 638.27 Td (Post-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.25 628.27 Td (Retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.60 618.27 Td (Plan Benefit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 608.27 Td (Adjustments ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 498.21 612.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.25 608.27 Td (T) Tj ET Q q 0 0 0 rg BT 533.66 608.27 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 593.28 Td (Balance, January 2, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.00 593.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.80 593.33 Td (\(1) Tj ET Q q 0 0 0 rg BT 415.13 593.33 Td (10.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 593.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.00 593.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 593.33 Td (\(51.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 593.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 593.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 593.33 Td (\(161.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.65 593.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 561.27 Td (Other comprehensive income/\(loss\) before reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.80 561.32 Td (\(8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 561.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 561.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 561.32 Td (\(8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 561.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 546.27 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 357.18 550.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 546.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 546.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 546.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 531.27 Td (Net other comprehensive income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.80 531.32 Td (\(8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 531.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 531.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 531.32 Td (\(8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 531.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 501.28 Td (Balance, December) Tj ET Q q 0 0 0 rg BT 134.10 501.28 Td ( 31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.00 501.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.80 501.33 Td (\(1) Tj ET Q q 0 0 0 rg BT 415.13 501.33 Td (18.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 501.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.00 501.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 501.33 Td (\(51.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 501.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 501.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 501.33 Td (\(169.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.65 501.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 471.27 Td (Other comprehensive income/\(loss\) before reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 471.27 Td (18.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 471.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 471.27 Td (18.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 456.27 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 357.18 460.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 456.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 456.27 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 456.27 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 441.27 Td (Net other comprehensive income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 441.27 Td (18.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 441.27 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 441.27 Td (20.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 411.28 Td (Balance, December) Tj ET Q q 0 0 0 rg BT 134.10 411.28 Td ( 31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.00 411.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.80 411.33 Td (\(99.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 411.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.00 411.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 411.33 Td (\(49.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 411.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 411.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 411.33 Td (\(149.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.65 411.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 381.27 Td (Other comprehensive income/\(loss\) before reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 381.32 Td (\(34.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 381.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 381.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 381.32 Td (\(34.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 381.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 366.27 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 357.18 370.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 366.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 366.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 366.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 351.27 Td (Net other comprehensive income/\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 351.32 Td (\(34.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 351.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 351.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 351.32 Td (\(34.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 351.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 321.28 Td (Balance, December) Tj ET Q q 0 0 0 rg BT 134.01 321.28 Td ( 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.00 321.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.80 321.33 Td (\(134.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 321.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.00 321.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 321.33 Td (\(48.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 321.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 321.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 321.33 Td (\(183.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.65 321.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 63.98 290.10 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 50.00 278.10 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 50.00 266.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 266.10 Td (s consolidated statements of income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.10 Td (\(2\) Net of tax expense of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.18 242.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.07 242.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.07 242.10 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.97 242.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.40 242.10 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.30 242.10 Td ( for 2018, 2017, and 2016, respectively) Tj ET Q q 0 0 0 rg BT 479.56 242.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.10 Td (Amounts related to noncontrolling interests were not material. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 194.10 Td (14. EARNINGS PER SHARE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.10 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 50.00 170.10 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 50.00 158.10 Td (period had been distributed. ) Tj ET Q q 0 0 0 rg BT 166.46 158.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 226.17 158.10 Td (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 50.00 146.10 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 50.00 134.10 Td (shareholders. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.10 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 98.10 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 86.10 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 74.10 Td (period, as adjusted for the potential dilutive ef) Tj ET Q q 0 0 0 rg BT 234.21 74.10 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 50.10 Td (The following table sets forth the computation of basic and diluted earnings per share:) Tj ET Q 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 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 701.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 701.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 701.60 84.00 -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 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 701.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 701.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 661.60 248.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 661.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 661.60 84.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 661.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 661.60 84.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 661.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 661.60 84.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 621.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 621.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 621.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 621.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 621.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 621.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 621.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 591.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 591.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 591.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 591.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 591.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 591.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 591.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 551.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 551.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 551.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 551.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 551.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 551.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 551.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 521.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 521.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 521.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 521.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 521.60 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 301.5 716.6 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 473.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 716.6 m 561.5 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 636.6 m 385.5 636.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 636.6 m 473.5 636.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 636.6 m 561.5 636.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 622.6 m 385.5 622.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 620.6 m 385.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 622.6 m 473.5 622.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 620.6 m 473.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 622.6 m 561.5 622.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 620.6 m 561.5 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 551.6 m 385.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 551.6 m 473.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 551.6 m 561.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 537.6 m 385.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 535.6 m 385.5 535.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 537.6 m 473.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 535.6 m 473.5 535.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 537.6 m 561.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 535.6 m 561.5 535.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 721.27 Td (\(In millions, except per share amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 721.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 721.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 721.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 706.27 Td (Numerator:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 706.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 706.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 706.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 691.27 Td (Net income attributable to Franklin Electric Co., Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 691.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 691.27 Td (105.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 691.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 691.27 Td (78.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 691.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 691.27 Td (78.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 666.27 Td (Less: Earnings allocated to participating securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 666.27 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 666.27 Td (0.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 666.27 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 651.27 Td (Less: Earnings allocated to redeemable noncontrolling) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 641.27 Td (interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 641.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 641.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 641.27 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 626.27 Td (Net income available to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 626.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 626.27 Td (105.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 626.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 626.27 Td (77.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 626.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 626.27 Td (77.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 611.27 Td (Denominator:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 596.27 Td (Basic weighted average common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 596.27 Td (46.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 596.27 Td (46.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 596.27 Td (46.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 581.27 Td (Ef) Tj ET Q q 0 0 0 rg BT 73.35 581.27 Td (fect of dilutive securities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 566.27 Td (Non-participating employee stock options and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 556.27 Td (performance awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 556.27 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 556.27 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 556.27 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 541.27 Td (Diluted weighted average common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 541.27 Td (47.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 541.27 Td (47.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 541.27 Td (46.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 526.27 Td (Basic earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 526.27 Td (2.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 526.27 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 526.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 526.27 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 511.27 Td (Diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 511.27 Td (2.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 511.27 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 511.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 511.27 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 483.10 Td (There were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.74 483.10 Td (0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.64 483.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.64 483.10 Td (0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.53 483.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.47 483.10 Td (0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.36 483.10 Td ( stock options outstanding as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.24 483.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.24 483.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.24 483.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.24 483.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.18 483.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.18 483.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 524.84 483.10 Td (, that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 471.10 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 50.00 447.10 Td (15. SHARE-BASED COMPENSA) Tj ET Q q 0 0 0 rg BT 195.11 447.10 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 435.10 Td (The Franklin Electric Co., Inc. 2017 Stock Plan \(the 2017 Stock Plan\) is a stock-based compensation plan that provides for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 423.10 Td (discretionary grants of stock options, stock awards, stock unit awards, and stock appreciation rights \(SARs\) to key employees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 411.10 Td (and non-employee directors. ) Tj ET Q q 0 0 0 rg BT 168.95 411.10 Td (The number of shares that may be issued under the Plan is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.44 411.10 Td (1,400,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.44 411.10 Td (. Stock options and SARs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 399.10 Td (reduce the number of available shares by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.32 399.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.76 399.10 Td ( share for each share subject to the option or SAR, and stock awards and stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 387.10 Td (unit awards settled in shares reduce the number of available shares by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.57 387.10 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.07 387.10 Td ( shares for every one share delivered. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.10 Td (The Company also maintains the Franklin Electric Co., Inc. 2012 Stock Plan \(the 2012 Stock Plan\), which is a share-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 351.10 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 50.00 339.10 Td (and non-employee directors. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.10 Td (The 2012 Stock Plan authorized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.81 315.10 Td (2,400,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.81 315.10 Td ( shares for issuance as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 277.60 112.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 277.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 277.60 100.00 -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 197.5 277.6 m 309.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 277.6 m 413.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 277.6 m 413.5 277.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.20 282.27 Td (2012 Stock Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.90 282.27 Td (Authorized Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 267.27 Td (Stock Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 267.27 Td (1,680,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.60 252.27 Td (Stock/Stock Unit ) Tj ET Q q 0 0 0 rg BT 273.16 252.27 Td (A) Tj ET Q q 0 0 0 rg BT 279.47 252.27 Td (wards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.75 252.27 Td (720,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.10 Td (The Company also maintains the ) Tj ET Q q 0 0 0 rg BT 183.59 224.10 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 50.00 212.10 Td (as amended in 2009, provided for discretionary grants of stock options and stock awards. ) Tj ET Q q 0 0 0 rg BT 411.12 212.10 Td (The 2009 Stock Plan authorized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (4,400,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 200.10 Td ( shares for issuance as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 174.60 115.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 174.60 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 205.5 174.60000000000002 m 320.5 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 174.60000000000002 m 405.5 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 174.60000000000002 m 405.5 174.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.70 179.27 Td (2009 Stock Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.40 179.27 Td (Authorized Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 164.27 Td (Stock Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 164.27 Td (3,200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.00 149.27 Td (Stock ) Tj ET Q q 0 0 0 rg BT 259.73 149.27 Td (A) Tj ET Q q 0 0 0 rg BT 266.03 149.27 Td (wards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 149.27 Td (1,200,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 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 97.10 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 85.10 Td (stock awards and stock unit awards made under the outstanding stock plans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.10 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 61.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.41 61.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.41 61.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.41 61.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.35 61.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.35 61.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.90 61.10 Td ($8.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.79 61.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.79 61.10 Td ($7.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.68 61.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.62 61.10 Td ($6.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 49.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.55 49.10 Td (.) Tj ET Q 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 BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Stock Options:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 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 439.58 718.10 Td (s common stock on the date of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (grant, and the options expire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.64 706.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.64 706.10 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 461.54 706.10 Td (25 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.46 706.10 Td ( a year and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (become fully vested and fully exercisable after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.64 694.10 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.64 694.10 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 50.00 682.10 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 50.00 670.10 Td (cash or its equivalent, by the plan participant) Tj ET Q q 0 0 0 rg BT 232.17 670.10 Td (s delivery of shares of the Company) Tj ET Q q 0 0 0 rg BT 379.36 670.10 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 50.00 658.10 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 50.00 646.10 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 442.74 646.10 Td (-dealer) Tj ET Q q 0 0 0 rg BT 469.94 646.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 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 50.00 610.10 Td (single approach and amortized using a straight-line attribution method over the option) Tj ET Q q 0 0 0 rg BT 396.86 610.10 Td (s vesting period.Options granted to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (retirement eligible employees are immediately expensed.) Tj ET Q q 0 0 0 rg BT 283.06 598.10 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 50.00 586.10 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 50.00 574.10 Td (dividend yield.) Tj ET Q q 0 0 0 rg BT 114.81 574.10 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 483.12 574.10 Td (T) Tj ET Q q 0 0 0 rg BT 488.87 574.10 Td (reasury yield ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (curve in ef) Tj ET Q q 0 0 0 rg BT 92.57 562.10 Td (fect at the time of the grant.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 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 50.00 526.10 Td (determine the fair value of options granted during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.60 526.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.60 526.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.60 526.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.60 526.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.54 526.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.54 526.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 488.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 488.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 488.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 488.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 488.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 488.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 488.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 458.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 458.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 458.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 458.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 458.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 458.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 458.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 428.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 428.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 428.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 428.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 428.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 428.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 428.60 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 301.5 488.6 m 385.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 488.6 m 473.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 488.6 m 561.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 488.6 m 385.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 488.6 m 473.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 488.6 m 561.5 488.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 493.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 493.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 493.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 493.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 478.27 Td (Risk-free interest rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 478.27 Td (2.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 478.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 478.27 Td (1.89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 478.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 478.27 Td (1.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 478.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 463.27 Td (Dividend yield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 463.27 Td (1.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 463.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 463.27 Td (0.94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 463.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 463.27 Td (1.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 463.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 448.27 Td (V) Tj ET Q q 0 0 0 rg BT 58.58 448.27 Td (olatility factor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 448.27 Td (28.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 448.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 448.27 Td (31.19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 448.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 448.27 Td (37.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 448.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 433.27 Td (Expected term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.90 433.27 Td (5.6 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.90 433.27 Td (5.5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.90 433.27 Td (5.5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 418.27 Td (W) Tj ET Q q 0 0 0 rg BT 60.64 418.27 Td (eighted average grant-date fair value of options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 418.27 Td (1) Tj ET Q q 0 0 0 rg BT 359.15 418.27 Td (1.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 418.27 Td (12.30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 418.27 Td (9.18) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 390.10 Td ( summary of the Company) Tj ET Q q 0 0 0 rg BT 166.10 390.10 Td (s outstanding stock option activity and related information is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 289.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 289.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 289.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 289.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 289.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 289.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 289.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 289.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 289.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 259.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 259.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 259.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 259.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 259.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 259.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 259.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 259.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 259.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 229.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 229.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 229.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 229.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 229.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 229.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 229.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 229.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 229.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 199.60 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 199.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 199.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 199.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 199.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 199.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 199.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 199.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 199.60 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 49.5 289.6 m 265.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 289.6 m 339.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 289.6 m 413.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 289.6 m 487.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 289.6 m 561.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 229.60000000000002 m 339.5 229.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 229.60000000000002 m 413.5 229.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 229.60000000000002 m 487.5 229.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 229.60000000000002 m 561.5 229.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 215.60000000000002 m 339.5 215.60000000000002 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 343.5 215.60000000000002 m 413.5 215.60000000000002 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 417.5 215.60000000000002 m 487.5 215.60000000000002 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 491.5 215.60000000000002 m 561.5 215.60000000000002 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 269.5 215.60000000000002 m 339.5 215.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 200.60000000000002 m 339.5 200.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 198.60000000000002 m 339.5 198.60000000000002 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 343.5 215.60000000000002 m 413.5 215.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 200.60000000000002 m 413.5 200.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 198.60000000000002 m 413.5 198.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 200.60000000000002 m 487.5 200.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 198.60000000000002 m 487.5 198.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 200.60000000000002 m 561.5 200.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 198.60000000000002 m 561.5 198.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 185.60000000000002 m 339.5 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 183.60000000000002 m 339.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 185.60000000000002 m 413.5 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 183.60000000000002 m 413.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 185.60000000000002 m 487.5 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 183.60000000000002 m 487.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 185.60000000000002 m 561.5 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 183.60000000000002 m 561.5 183.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 357.27 Td (\(Shares in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 314.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 304.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 294.27 Td (Stock Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 294.27 Td (Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.25 314.27 Td (W) Tj ET Q q 0 0 0 rg BT 366.29 314.27 Td (eighted-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.40 304.27 Td (A) Tj ET Q q 0 0 0 rg BT 368.25 304.27 Td (verage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.25 294.27 Td (Exercise Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.25 334.27 Td (W) Tj ET Q q 0 0 0 rg BT 439.89 334.27 Td (eighted-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.40 324.27 Td (A) Tj ET Q q 0 0 0 rg BT 441.88 324.27 Td (verage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.05 314.27 Td (Remaining) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.65 304.27 Td (Contractual) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 294.27 Td (T) Tj ET Q q 0 0 0 rg BT 446.91 294.27 Td (erm) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 314.27 Td (Aggregate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.75 304.27 Td (Intrinsic ) Tj ET Q q 0 0 0 rg BT 532.39 304.27 Td (V) Tj ET Q q 0 0 0 rg BT 538.51 304.27 Td (alue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.80 294.27 Td (\(000) Tj ET Q q 0 0 0 rg BT 532.91 294.27 Td (s\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 279.27 Td (Outstanding at beginning of 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 279.27 Td (1,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 279.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 279.27 Td (28.79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 279.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 279.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 264.27 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 264.27 Td (251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 264.27 Td (40.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 264.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 264.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 249.27 Td (Exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.30 249.32 Td (\(405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 249.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 249.27 Td (22.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 249.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 249.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 234.27 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.30 234.32 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 234.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 234.27 Td (37.63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 234.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 234.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 219.27 Td (Outstanding at end of 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 219.27 Td (1,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 219.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 219.27 Td (33.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.90 219.27 Td (6.13 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 219.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 219.27 Td (1) Tj ET Q q 0 0 0 rg BT 535.15 219.27 Td (1,870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 204.27 Td (Expected to vest after applying forfeiture rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 204.27 Td (1,210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 204.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 204.27 Td (33.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.90 204.27 Td (6.09 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 204.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 204.27 Td (1) Tj ET Q q 0 0 0 rg BT 535.15 204.27 Td (1,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 189.27 Td (V) Tj ET Q q 0 0 0 rg BT 58.11 189.27 Td (ested and exercisable at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 189.27 Td (690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 189.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 189.27 Td (29.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.90 189.27 Td (4.47 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 189.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 189.27 Td (9,320) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 148.60 248.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 148.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 148.60 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 148.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 148.60 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 148.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 148.60 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 120.60 248.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 120.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 120.60 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 120.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 120.60 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 120.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 120.60 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 302.5 148.60000000000002 m 386.5 148.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 148.60000000000002 m 474.5 148.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 148.60000000000002 m 562.5 148.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 153.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.00 153.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.00 153.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 153.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 139.17 Td (Intrinsic value of options exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 139.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 139.17 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.00 139.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 139.17 Td (6.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 139.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 139.17 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 125.17 Td (Cash received from the exercise of options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 125.17 Td (9.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 125.17 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 125.17 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 111.17 Td (Fair value of shares vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 111.17 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 111.17 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 111.17 Td (1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 97.17 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 97.17 Td (ax benefit of options exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.15 97.17 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 97.17 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 97.17 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 69.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 69.10 Td (, there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.56 69.10 Td ($1.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.46 69.10 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 57.10 Td (granted under the 2012 Stock Plan.) Tj ET Q q 0 0 0 rg BT 195.35 57.10 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 57.10 Td (2.49 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.31 57.10 Td (.) 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 /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Stock/Stock Unit ) Tj ET Q q 0 0 0 rg BT 121.30 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 127.23 742.25 Td (wards:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 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 50.00 718.25 Td (and the 2017 Stock Plan, 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 50.00 694.25 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 537.45 694.25 Td (f vest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.27 682.25 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.27 682.25 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.60 682.25 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.60 682.25 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 50.00 670.25 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 50.00 658.25 Td (dividends on performance-based stock awards under the 2012 Stock Plan and the 2017 Stock Plan will be paid only to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (extent the performance goals are met. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 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 50.00 610.25 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 50.00 586.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 586.25 Td ( summary of the Company) Tj ET Q q 0 0 0 rg BT 166.10 586.25 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 49.50 493.75 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 493.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 493.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 493.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 493.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 463.75 336.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 463.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 463.75 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 463.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 463.75 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 389.5 508.75 m 473.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 508.75 m 561.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 448.75 m 473.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 448.75 m 561.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 434.75 m 473.5 434.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 432.75 m 473.5 432.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 434.75 m 561.5 434.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 432.75 m 561.5 432.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 553.42 Td (\(Shares in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 513.42 Td (Restricted Stock/Stock Unit ) Tj ET Q q 0 0 0 rg BT 165.88 513.42 Td (A) Tj ET Q q 0 0 0 rg BT 172.37 513.42 Td (wards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 523.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.65 513.42 Td (Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.70 533.42 Td (W) Tj ET Q q 0 0 0 rg BT 490.34 533.42 Td (eighted-A) Tj ET Q q 0 0 0 rg BT 529.58 533.42 Td (verage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.95 523.42 Td (Grant-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.70 513.42 Td (Date Fair ) Tj ET Q q 0 0 0 rg BT 527.50 513.42 Td (V) Tj ET Q q 0 0 0 rg BT 533.62 513.42 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 498.42 Td (Non-vested at beginning of 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 498.42 Td (463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 498.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 498.42 Td (36.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 483.42 Td (A) Tj ET Q q 0 0 0 rg BT 58.76 483.42 Td (warded) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 483.42 Td (164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 483.42 Td (40.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 468.42 Td (V) Tj ET Q q 0 0 0 rg BT 58.67 468.42 Td (ested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 468.47 Td (\(94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 468.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 468.42 Td (40.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 453.42 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 453.47 Td (\(35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 453.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 453.42 Td (36.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 438.42 Td (Non-vested at end of 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 438.42 Td (498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 438.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 438.42 Td (37.27) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.25 Td (The weighted-average grant date fair value of restricted stock/stock unit awards granted in 2018, 2017, and 2016, is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.13 410.25 Td ($40.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.63 410.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.25 Td ($42.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 398.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.44 398.25 Td ($29.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.94 398.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 179.60 398.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 374.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 374.25 Td (, there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.56 374.25 Td ($8.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.46 374.25 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 50.00 362.25 Td (unit awards granted under the 2012 Stock Plan and the 2009 Stock Plan.) Tj ET Q q 0 0 0 rg BT 343.94 362.25 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 50.00 350.25 Td (weighted-average period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.45 350.25 Td (2.22 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.54 350.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 326.25 Td (16. SEGMENT) Tj ET Q q 0 0 0 rg BT 114.83 326.25 Td ( ) Tj ET Q q 0 0 0 rg BT 116.78 326.25 Td (AND GEOGRAPHIC INFORMA) Tj ET Q q 0 0 0 rg BT 261.03 326.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 314.25 Td (s business consists of the ) Tj ET Q q 0 0 0 rg BT 212.03 314.25 Td (W) Tj ET Q q 0 0 0 rg BT 220.67 314.25 Td (ater Systems, Distribution, and Fueling Systems reportable segments, based on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.25 Td (principal end market served. ) Tj ET Q q 0 0 0 rg BT 168.66 302.25 Td (W) Tj ET Q q 0 0 0 rg BT 177.70 302.25 Td (ithin the ) Tj ET Q q 0 0 0 rg BT 213.07 302.25 Td (W) Tj ET Q q 0 0 0 rg BT 221.71 302.25 Td (ater Systems segment, North ) Tj ET Q q 0 0 0 rg BT 338.64 302.25 Td (America ) Tj ET Q q 0 0 0 rg BT 375.38 302.25 Td (W) Tj ET Q q 0 0 0 rg BT 384.02 302.25 Td (ater Systems and International ) Tj ET Q q 0 0 0 rg BT 507.69 302.25 Td (W) Tj ET Q q 0 0 0 rg BT 516.33 302.25 Td (ater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.25 Td (Systems have been identified as operating segments. For reportable segment purposes, the Company aggregates North ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.25 Td (America ) Tj ET Q q 0 0 0 rg BT 86.74 278.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.38 278.25 Td (ater Systems and International ) Tj ET Q q 0 0 0 rg BT 219.05 278.25 Td (W) Tj ET Q q 0 0 0 rg BT 227.69 278.25 Td (ater Systems into the ) Tj ET Q q 0 0 0 rg BT 313.61 278.25 Td (W) Tj ET Q q 0 0 0 rg BT 322.25 278.25 Td (ater Systems segment, as they meet the aggregation criteria ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.25 Td (in F) Tj ET Q q 0 0 0 rg BT 65.10 266.25 Td (ASB ) Tj ET Q q 0 0 0 rg BT 86.50 266.25 Td (ASC 280. ) Tj ET Q q 0 0 0 rg BT 128.27 266.25 Td (The Company includes unallocated corporate expenses and inter) Tj ET Q q 0 0 0 rg BT 386.04 266.25 Td (-company eliminations in an Intersegment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.25 Td (Eliminations/Other segment that together with the ) Tj ET Q q 0 0 0 rg BT 256.99 254.25 Td (W) Tj ET Q q 0 0 0 rg BT 265.63 254.25 Td (ater Systems, Distribution, and Fueling Systems segments, represent the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.25 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 242.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 218.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.50 218.25 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 50.00 206.25 Td (equipment primarily for use in submersible water and other fluid system applications. ) Tj ET Q q 0 0 0 rg BT 397.51 206.25 Td (The Fueling Systems segment designs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.25 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 50.00 182.25 Td (system applications. ) Tj ET Q q 0 0 0 rg BT 135.92 182.25 Td (The Fueling Systems segment integrates and sells motors and electronic controls produced by the ) Tj ET Q q 0 0 0 rg BT 527.87 182.25 Td (W) Tj ET Q q 0 0 0 rg BT 536.51 182.25 Td (ater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.25 Td (Systems segment. ) Tj ET Q q 0 0 0 rg BT 123.98 170.25 Td (The Distribution segment sells to and provides pre sale support and specifications to the installing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.25 Td (contractors. ) Tj ET Q q 0 0 0 rg BT 99.24 158.25 Td (The Distribution segment sells products produced by the ) Tj ET Q q 0 0 0 rg BT 327.91 158.25 Td (W) Tj ET Q q 0 0 0 rg BT 336.55 158.25 Td (ater Systems segment. In the prior year) Tj ET Q q 0 0 0 rg BT 492.49 158.25 Td (, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.25 Td (reported certain product transfers between ) Tj ET Q q 0 0 0 rg BT 221.13 146.25 Td (W) Tj ET Q q 0 0 0 rg BT 229.77 146.25 Td (ater and Fueling as intersegment revenue. ) Tj ET Q q 0 0 0 rg BT 401.19 146.25 Td (The Company is now reporting these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.25 Td (product transfers between ) Tj ET Q q 0 0 0 rg BT 155.61 134.25 Td (W) Tj ET Q q 0 0 0 rg BT 164.25 134.25 Td (ater and Fueling as inventory transfers as a significant number of the Company's manufacturing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.25 Td (facilities are shared across segments for scale and ef) Tj ET Q q 0 0 0 rg BT 258.61 122.25 Td (ficiency purposes. ) Tj ET Q q 0 0 0 rg BT 336.19 122.25 Td (The Company continues to report intersegment transfers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.25 Td (from ) Tj ET Q q 0 0 0 rg BT 71.76 110.25 Td (W) Tj ET Q q 0 0 0 rg BT 80.40 110.25 Td (ater to Distribution as intersegment revenue at market prices to properly reflect the commercial arrangement of vendor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.25 Td (to customer that exists between the ) Tj ET Q q 0 0 0 rg BT 192.56 98.25 Td (W) Tj ET Q q 0 0 0 rg BT 201.20 98.25 Td (ater and Distribution segments. Segment operating income is a key financial performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 86.25 Td (measure. Operating income by segment is based on net sales less identifiable operating expenses and allocations and includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.25 Td (profits recorded on sales to other segments of the Company) Tj ET Q q 0 0 0 rg BT 287.35 74.25 Td (. ) Tj ET Q q 0 0 0 rg BT 294.67 74.25 Td (The Company has retrospectively revised segment results in prior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 62.25 Td (periods to conform with current period presentations. ) Tj ET Q q 0 0 0 rg BT 267.82 62.25 Td (There is no impact on the Company's previously reported consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 50.25 Td (financial position, results of operations, or cash flows.) 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 /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (The accounting policies of the Company) Tj ET Q q 0 0 0 rg BT 215.23 730.10 Td (s reportable segments are the same as those described in Note 1 \(Summary of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 95.83 718.10 Td (Accounting Policies\). 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 50.00 706.10 Td (variety of ratios to measure performance. ) Tj ET Q q 0 0 0 rg BT 219.75 706.10 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 50.00 694.10 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 50.00 670.10 Td (Financial information by reportable business segment is included in the following summary:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 644.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 644.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 644.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 644.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 644.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 644.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 614.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 614.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 614.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 614.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 614.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 614.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 584.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 584.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 584.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 584.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 554.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 554.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 554.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 554.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 524.60 309.00 -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 49.50 494.60 309.00 -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 49.50 464.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 464.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 464.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 464.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 464.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 464.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 434.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 434.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 434.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 434.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 434.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 434.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 404.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 404.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 404.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 404.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 374.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 374.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 374.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 374.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 374.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 374.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 344.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 344.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 344.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 344.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 344.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 344.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 314.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 314.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 314.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 314.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 314.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 314.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 284.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 284.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 284.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 284.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 284.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 284.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 254.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 254.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 254.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 254.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 254.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 254.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 224.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 224.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 224.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 224.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 224.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 224.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 194.60 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 194.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 194.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 194.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 194.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 194.60 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 49.5 659.6 m 358.5 659.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 644.6 m 358.5 644.6 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 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 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 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 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 427.5 629.6 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 496.5 629.6 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 358.5 509.6 m 423.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 509.6 m 492.5 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 509.6 m 561.5 509.6 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 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 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 358.5 344.6 m 423.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 344.6 m 492.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 344.6 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 358.5 299.6 m 423.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 285.6 m 423.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 283.6 m 423.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 299.6 m 492.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 285.6 m 492.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 283.6 m 492.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 299.6 m 561.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 285.6 m 561.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 283.6 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 49.5 269.6 m 358.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 254.60000000000002 m 358.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 269.6 m 423.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 254.60000000000002 m 423.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 269.6 m 427.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 254.60000000000002 m 427.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 269.6 m 492.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 254.60000000000002 m 492.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 269.6 m 496.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 254.60000000000002 m 496.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 269.6 m 561.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 254.60000000000002 m 561.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 239.60000000000002 m 423.5 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 239.60000000000002 m 492.5 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 239.60000000000002 m 561.5 239.60000000000002 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 427.5 179.60000000000002 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 496.5 179.60000000000002 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 358.5 165.60000000000002 m 423.5 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 163.60000000000002 m 423.5 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 165.60000000000002 m 492.5 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 163.60000000000002 m 492.5 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 165.60000000000002 m 561.5 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 163.60000000000002 m 561.5 163.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.95 649.27 Td (Net Sales) 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 380.50 634.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 634.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 634.27 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 619.28 Td (W) Tj ET Q q 0 0 0 rg BT 61.72 619.28 Td (ater) Tj ET Q q 0 0 0 rg BT 78.56 619.28 Td ( Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 604.27 Td (External sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 589.27 Td (United States & Canada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 589.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 589.27 Td (354.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 589.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 589.27 Td (308.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 589.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 589.27 Td (343.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 574.27 Td (Latin ) Tj ET Q q 0 0 0 rg BT 93.33 574.27 Td (America) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 574.27 Td (120.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 574.27 Td (130.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 574.27 Td (127.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 559.27 Td (Europe, Middle East & ) Tj ET Q q 0 0 0 rg BT 164.98 559.27 Td (Africa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 559.27 Td (184.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 559.27 Td (177.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 559.27 Td (167.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 544.27 Td (Asia Pacific) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 544.27 Td (81.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 544.27 Td (86.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 544.27 Td (85.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 529.27 Td (Intersegment sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 514.27 Td (United States & Canada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 514.27 Td (56.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 514.27 Td (40.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 514.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 499.27 Td (T) Tj ET Q q 0 0 0 rg BT 69.76 499.27 Td (otal sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 499.27 Td (796.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 499.27 Td (743.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 499.27 Td (723.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 484.28 Td (Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 469.27 Td (External sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 454.27 Td (United States & Canada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 454.27 Td (269.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 454.27 Td (176.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 454.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 439.27 Td (Intersegment sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 439.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 439.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 439.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 424.27 Td (T) Tj ET Q q 0 0 0 rg BT 69.76 424.27 Td (otal 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/GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 718.5 m 231.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235.5 718.5 m 297.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 718.5 m 363.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 733.5 m 429.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 718.5 m 429.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 733.5 m 495.5 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 718.5 m 495.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 718.5 m 499.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 733.5 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 499.5 718.5 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 301.5 718.5 m 363.5 718.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 658.5 m 231.5 658.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235.5 658.5 m 297.5 658.5 l s 0 0 0 RG 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/GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 658.5 m 495.5 658.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 644.5 m 495.5 644.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 642.5 m 495.5 642.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 658.5 m 561.5 658.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 644.5 m 561.5 644.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 642.5 m 561.5 642.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 628.5 m 231.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 169.5 613.5 m 231.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 628.5 m 235.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 613.5 m 235.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235.5 628.5 m 297.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235.5 613.5 m 297.5 613.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 628.5 m 301.5 628.5 l s 0 0 0 RG 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/GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 522.5 m 363.5 522.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 538.5 m 429.5 538.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 524.5 m 429.5 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 522.5 m 429.5 522.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 538.5 m 495.5 538.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 524.5 m 495.5 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 522.5 m 495.5 522.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 538.5 m 561.5 538.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 524.5 m 561.5 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 522.5 m 561.5 522.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 738.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.85 739.07 Td (T) Tj ET Q q 0 0 0 rg BT 248.61 739.07 Td (otal assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 738.17 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 724.07 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 724.07 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 724.07 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 723.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.00 723.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 723.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 708.17 Td (W) Tj ET Q q 0 0 0 rg BT 61.04 708.17 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 708.17 Td (679.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 708.17 Td (695.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 708.17 Td (671.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 708.17 Td (20.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 708.17 Td (20.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 708.17 Td (19.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 693.17 Td (Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 693.17 Td (165.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 693.17 Td (153.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 693.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 693.17 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 693.17 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 693.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 678.17 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 678.17 Td (275.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 678.17 Td (265.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 678.17 Td (251.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 678.17 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 678.17 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 678.17 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 663.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.15 663.17 Td (61.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.15 663.17 Td (71.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 663.17 Td (1) Tj ET Q q 0 0 0 rg BT 342.15 663.17 Td (17.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 663.17 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 663.17 Td (5.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 663.17 Td (5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 648.17 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.00 648.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.65 648.17 Td (1,182.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 648.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.65 648.17 Td (1,185.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 648.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 648.17 Td (1,039.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 648.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 648.17 Td (29.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 648.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 648.17 Td (29.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 648.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 648.17 Td (27.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 618.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.30 618.17 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.75 618.17 Td (Capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 603.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 603.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 603.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 603.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.00 603.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 603.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 588.17 Td (W) Tj ET Q q 0 0 0 rg BT 61.04 588.17 Td (ater Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.00 588.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.15 588.17 Td (6.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 588.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 588.17 Td (6.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 588.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.15 588.17 Td (6.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 588.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 588.17 Td (18.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 588.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 588.17 Td (19.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 588.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 588.17 Td (31.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 573.17 Td (Distribution) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.15 573.17 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 573.17 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 573.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 573.17 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 573.17 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 573.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 558.17 Td (Fueling Systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.15 558.17 Td (1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 558.17 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.15 558.17 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 558.17 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 558.17 Td (1) Tj ET Q q 0 0 0 rg BT 479.15 558.17 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 558.17 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 543.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.15 543.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 543.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.15 543.17 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 543.17 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 543.17 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 543.17 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 528.17 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.00 528.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.15 528.17 Td (8.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 528.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 528.17 Td (8.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 528.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.15 528.17 Td (8.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 528.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 528.17 Td (23.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 528.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 528.17 Td (33.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 528.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 528.17 Td (37.6) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 500.00 Td (Property) Tj ET Q q 0 0 0 rg BT 83.79 500.00 Td (, plant and equipment is the major asset group in Other of total assets for the fiscal years end ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.34 500.00 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.93 500.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 488.00 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 488.00 Td (. Cash is the major asset group in Other of total assets for the fiscal year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.04 488.00 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.62 488.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 464.00 Td (Financial information by geographic region is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 411.50 121.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 170.50 411.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 411.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 411.50 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 411.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 411.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 411.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 411.50 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 411.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 411.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 411.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 411.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 381.50 121.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 170.50 381.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.50 381.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 381.50 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 381.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 381.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 381.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 381.50 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 381.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 381.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 381.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 381.50 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 170.5 441.5 m 232.5 441.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 426.5 m 232.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 441.5 m 236.5 441.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.5 426.5 m 236.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 441.5 m 297.5 441.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 426.5 m 297.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 441.5 m 301.5 441.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 426.5 m 301.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 441.5 m 363.5 441.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 426.5 m 363.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 441.5 m 428.5 441.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 426.5 m 428.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 441.5 m 432.5 441.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 426.5 m 432.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 441.5 m 494.5 441.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 426.5 m 494.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 441.5 m 499.5 441.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 426.5 m 499.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 441.5 m 561.5 441.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 426.5 m 561.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 426.5 m 232.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 411.5 m 232.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 426.5 m 297.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 411.5 m 297.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 426.5 m 363.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 411.5 m 363.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 426.5 m 428.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 411.5 m 428.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 426.5 m 494.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 411.5 m 494.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 426.5 m 499.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 411.5 m 499.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 426.5 m 561.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 411.5 m 561.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 411.5 m 561.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 381.5 m 232.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 381.5 m 297.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 381.5 m 363.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 381.5 m 428.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 381.5 m 494.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 381.5 m 499.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 381.5 m 561.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 367.5 m 232.5 367.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 170.5 365.5 m 232.5 365.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 367.5 m 297.5 367.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 365.5 m 297.5 365.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 367.5 m 363.5 367.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 365.5 m 363.5 365.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 367.5 m 428.5 367.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 365.5 m 428.5 365.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 367.5 m 494.5 367.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 365.5 m 494.5 365.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 367.5 m 499.5 367.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 365.5 m 499.5 365.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 367.5 m 561.5 367.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 365.5 m 561.5 365.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 431.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.30 431.17 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.85 431.17 Td (Long-lived assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 416.17 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 416.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.50 416.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 416.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.50 416.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 416.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 416.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 401.17 Td (United States) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.00 401.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 401.17 Td (738.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 401.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 401.17 Td (596.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 401.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 401.17 Td (446.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 401.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 401.17 Td (372.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 401.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 401.17 Td (326.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 401.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 401.17 Td (349.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 386.17 Td (Foreign) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.15 386.17 Td (559.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.15 386.17 Td (528.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 386.17 Td (503.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 386.17 Td (221.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 386.17 Td (261.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 386.17 Td (202.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 371.17 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.00 371.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.65 371.17 Td (1,298.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 371.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.65 371.17 Td (1,124.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 371.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 371.17 Td (949.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 371.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 371.17 Td (593.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 371.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 371.17 Td (587.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 371.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 371.17 Td (551.5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.00 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 421.84 343.00 Td (. Long-lived assets are attributed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.00 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 50.00 307.00 Td (The Company of) Tj ET Q q 0 0 0 rg BT 117.58 307.00 Td (fers a lar) Tj ET Q q 0 0 0 rg BT 152.38 307.00 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 50.00 295.00 Td (tracked regionally and products are categorized dif) Tj ET Q q 0 0 0 rg BT 253.06 295.00 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 50.00 283.00 Td (However) Tj ET Q q 0 0 0 rg BT 86.25 283.00 Td (, net sales by segment are representative of the Company) Tj ET Q q 0 0 0 rg BT 316.73 283.00 Td (s sales by major product category) Tj ET Q q 0 0 0 rg BT 450.21 283.00 Td (. ) Tj ET Q q 0 0 0 rg BT 455.02 283.00 Td (The Company sells its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.00 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 50.00 259.00 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 50.00 235.00 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.22 235.00 Td ( single customer accounted for more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.22 235.00 Td (10 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.14 235.00 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 341.86 235.00 Td (s consolidated sales in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.51 235.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.51 235.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.51 235.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.51 235.00 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.34 235.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.34 235.00 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.84 235.00 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.06 235.00 Td ( single ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.00 Td (customer accounted for more than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.11 223.00 Td (10 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.04 223.00 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 300.75 223.00 Td (s gross accounts receivable in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.09 223.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.09 223.00 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.42 223.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.42 223.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 199.00 Td (17. COMMITMENTS ) Tj ET Q q 0 0 0 rg BT 146.95 199.00 Td (AND CONTINGENCIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.00 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 50.00 175.00 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 50.00 163.00 Td (be defended or resolved without a material ef) Tj ET Q q 0 0 0 rg BT 231.13 163.00 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 317.50 163.00 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 50.00 139.00 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 139.00 Td (otal rent expense char) Tj ET Q q 0 0 0 rg BT 142.69 139.00 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 427.05 139.00 Td ($17.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.94 139.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.94 139.00 Td ($15.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.83 139.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.00 Td ($1) Tj ET Q q 0 0 0 rg BT 59.63 127.00 Td (1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.52 127.00 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.30 127.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.30 127.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.30 127.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.30 127.00 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.24 127.00 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.24 127.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 255.90 127.00 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.00 Td (The future minimum rental payments for non-cancellable operating leases as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.16 103.00 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.75 103.00 Td (, are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 66.50 179.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 66.50 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 66.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 66.50 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 66.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 66.50 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 66.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 66.50 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 66.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 66.50 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 66.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 66.50 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 66.5 m 286.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 66.5 m 336.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 66.5 m 385.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 66.5 m 434.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 66.5 m 483.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 66.5 m 487.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 66.5 m 547.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 66.5 m 286.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 66.5 m 336.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 66.5 m 385.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 66.5 m 434.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 66.5 m 483.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 66.5 m 487.5 66.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 66.5 m 547.5 66.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 71.07 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.00 71.07 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.00 71.07 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 71.07 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.50 71.07 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 71.07 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 71.07 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 57.07 Td (Future minimum rental payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 57.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 57.07 Td (8.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 57.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.15 57.07 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 57.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 57.07 Td (3.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 57.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 57.07 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 57.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 57.07 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 57.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 57.07 Td (5.7) Tj ET Q BT /F1 10.00 Tf ET 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 /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 730.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.08 730.10 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.13 730.10 Td ($8.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.02 730.10 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 50.00 718.10 Td (raw materials to be used in production.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 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 50.00 682.10 Td (line of the Company) Tj ET Q q 0 0 0 rg BT 134.71 682.10 Td (s consolidated balance sheets for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.27 682.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.27 682.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.71 682.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.71 682.10 Td (, are as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td () Tj ET Q 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 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 644.6 m 473.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 644.6 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 389.5 644.6 m 473.5 644.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 644.6 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 389.5 584.6 m 473.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 584.6 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 389.5 570.6 m 473.5 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 568.6 m 473.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 570.6 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 477.5 568.6 m 561.5 568.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 649.27 Td (\(In millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 649.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 649.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 634.27 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 634.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 634.27 Td (9.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 634.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 634.27 Td (8.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 619.27 Td (Accruals related to product warranties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 619.27 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 619.27 Td (9.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 604.27 Td (Additions related to acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 604.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 604.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 589.27 Td (Reductions for payments made) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 589.32 Td (\(10.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 589.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.80 589.32 Td (\(9.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 589.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 574.27 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 574.27 Td (9.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 574.27 Td (9.5) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 546.10 Td (18. SELECTED QUAR) Tj ET Q q 0 0 0 rg BT 149.95 546.10 Td (TERL) Tj ET Q q 0 0 0 rg BT 176.26 546.10 Td (Y) Tj ET Q q 0 0 0 rg BT 183.11 546.10 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.73 546.10 Td ( DA) Tj ET Q q 0 0 0 rg BT 257.93 546.10 Td (T) Tj ET Q q 0 0 0 rg BT 263.86 546.10 Td (A) Tj ET Q q 0 0 0 rg BT 270.53 546.10 Td ( \(UNAUDITED\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 534.10 Td (Unaudited quarterly financial information for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.10 534.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 534.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.54 534.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.54 534.10 Td (, is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 426.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 426.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 426.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 426.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 426.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 426.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 426.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 396.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 396.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 396.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 396.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 396.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 396.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 396.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 366.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 366.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 366.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 366.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 366.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 366.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 366.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 321.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 321.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 321.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 321.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 321.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 321.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 321.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 291.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 291.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 291.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 291.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 291.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 291.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 291.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 261.60 102.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 261.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 261.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 261.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 261.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 261.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 261.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 261.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 261.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 261.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 261.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 261.60 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 152.5 441.6 m 217.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 441.6 m 286.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 441.6 m 355.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 441.6 m 424.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 441.6 m 493.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 441.6 m 562.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 426.6 m 152.5 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 441.6 m 355.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 366.6 m 217.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 366.6 m 286.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 366.6 m 355.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 366.6 m 424.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 366.6 m 493.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 366.6 m 562.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 366.6 m 217.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 352.6 m 217.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 350.6 m 217.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 366.6 m 286.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 352.6 m 286.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 350.6 m 286.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 366.6 m 355.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 352.6 m 355.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 350.6 m 355.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 366.6 m 424.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 352.6 m 424.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 350.6 m 424.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 366.6 m 493.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 352.6 m 493.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 350.6 m 493.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 366.6 m 562.5 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 352.6 m 562.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 350.6 m 562.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 321.6 m 152.5 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 261.6 m 217.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 261.6 m 286.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 261.6 m 355.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 261.6 m 424.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 261.6 m 493.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 247.60000000000002 m 217.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 245.60000000000002 m 217.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 247.60000000000002 m 286.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 245.60000000000002 m 286.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 247.60000000000002 m 355.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 245.60000000000002 m 355.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 247.60000000000002 m 424.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 245.60000000000002 m 424.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 261.6 m 493.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 247.60000000000002 m 493.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 245.60000000000002 m 493.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 261.6 m 562.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 247.60000000000002 m 562.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 245.60000000000002 m 562.5 245.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 501.27 Td (\(In millions, except per share amounts\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 446.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.50 456.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.45 446.27 Td (Net Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.50 456.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.15 446.27 Td (Gross Profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.00 446.27 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 486.27 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.20 476.27 Td (Attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.55 466.27 Td (Franklin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.35 456.27 Td (Electric Co.,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.85 446.27 Td (Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.35 466.27 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.80 456.27 Td (Earnings Per) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 446.27 Td (Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 486.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 476.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.50 466.27 Td (Diluted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.80 456.27 Td (Earnings Per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.10 446.27 Td (Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.00 431.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 431.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.00 431.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 431.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 432.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 431.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 432.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 416.27 Td (1st quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 416.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 416.27 Td (295.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.00 416.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 416.27 Td (99.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 416.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 416.27 Td (21.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 416.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 416.27 Td (21.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 416.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 416.27 Td (0.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 416.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 416.27 Td (0.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 401.27 Td (2nd quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 401.27 Td (344.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 401.27 Td (1) Tj ET Q q 0 0 0 rg BT 265.15 401.27 Td (16.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 401.27 Td (30.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 401.27 Td (30.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 401.27 Td (0.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 401.27 Td (0.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 386.27 Td (3rd quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 386.27 Td (341.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 386.27 Td (1) Tj ET Q q 0 0 0 rg BT 265.15 386.27 Td (13.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 386.27 Td (30.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 386.27 Td (30.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 386.27 Td (0.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 386.27 Td (0.63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 371.27 Td (4th quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 371.27 Td (316.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 371.27 Td (104.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 371.27 Td (24.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 371.27 Td (24.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 371.27 Td (0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 371.27 Td (0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 356.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.65 356.27 Td (1,298.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 356.27 Td (432.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.15 356.27 Td (105.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 356.27 Td (105.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 356.27 Td (2.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 356.27 Td (2.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.00 326.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 326.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 311.27 Td (1st quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 311.27 Td (220.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 311.27 Td (75.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 311.27 Td (15.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 311.27 Td (15.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 311.27 Td (0.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 311.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 311.27 Td (0.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 296.27 Td (2nd quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 296.27 Td (305.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 296.27 Td (102.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 296.27 Td (30.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 296.27 Td (29.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 296.27 Td (0.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 296.27 Td (0.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 281.27 Td (3rd quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 281.27 Td (31) Tj ET Q q 0 0 0 rg BT 201.15 281.27 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 281.27 Td (103.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 281.27 Td (24.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 281.27 Td (24.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 281.27 Td (0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 281.27 Td (0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 266.27 Td (4th quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 266.27 Td (288.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 266.27 Td (94.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.15 266.27 Td (8.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 266.27 Td (8.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 266.27 Td (0.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 266.27 Td (0.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.00 251.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 251.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.65 251.27 Td (1,124.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.00 251.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 251.27 Td (377.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 251.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 251.27 Td (78.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 251.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 251.27 Td (78.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 251.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 251.27 Td (1.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 251.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 251.27 Td (1.65) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.10 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 489.84 223.10 Td (As a result, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (sum of the quarterly earnings per share amounts may not equal the annual earnings per share amount.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (19. SUBSEQUENT) Tj ET Q q 0 0 0 rg BT 132.07 187.10 Td ( EVENT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.10 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.72 163.10 Td (January2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.32 163.10 Td (, Headwater Companies, LLC, a wholly owned subsidiary of the Company) Tj ET Q q 0 0 0 rg BT 426.78 163.10 Td (, acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.70 163.10 Td (100 percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.63 163.10 Td ( interest of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.10 Td (Milan Supply Company of Mt. Pleasant, Michigan for approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.68 151.10 Td ($5.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.57 151.10 Td (. Milan Supply will continue to operate as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 137.90 Td (professional groundwater distributor and will be included as a part of the Distribution Segment of the Company) Tj ET Q q 0 0 0 rg BT 495.92 137.90 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 498.42 137.90 Td ( ) 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 (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 Shareholders and the Board of Directors 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 /F2 9.00 Tf ET q 0 0 0 rg BT 50.00 686.45 Td (Opinion on the Financial Statements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 666.65 Td (W) Tj ET Q q 0 0 0 rg BT 57.77 666.65 Td (e have audited the accompanying consolidated balance sheets of Franklin Electric Co., Inc. and subsidiaries \(the "Company"\) as of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 655.85 Td (December 31, 2018 and 2017, the related consolidated statements ofincome, comprehensive income, cash flows, and equity for each of the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 645.05 Td (three years in the period ended December 31, 2018, and the related notes and the schedule listed in the Index at Item 15 \(collectively referred ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (to as the "financial statements"\). In our opinion, the financial statements present fairly) Tj ET Q q 0 0 0 rg BT 359.17 634.25 Td (, in all material respects, the financial position of the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 623.45 Td (Company as of December 31, 2018 and 2017, and the results of its operations and its cash flows for each of the three years in the period ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 612.65 Td (ended December 31, 2018, in conformity with accounting principles generally accepted in the United States of ) Tj ET Q q 0 0 0 rg BT 449.88 612.65 Td (America.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 592.85 Td (W) Tj ET Q q 0 0 0 rg BT 57.77 592.85 Td (e have also audited, in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 335.69 592.85 Td (Accounting Oversight Board \(United States\) \(PCAOB\), the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 582.05 Td (Company's internal control over financial reporting as of December 31, 2018, based on criteria established in ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 445.00 582.05 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 496.92 582.05 Td (ol - Integrated ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (Framework \(2013\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 118.24 571.25 Td ( issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 274.31 571.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 340.38 571.25 Td (T) Tj ET Q q 0 0 0 rg BT 345.56 571.25 Td (readway Commission and our report dated February 28, ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 560.45 Td (2019, expressed an unqualified opinion on the Company's internal control over financial reporting.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 50.00 540.65 Td (Basis for) Tj ET Q q 0 0 0 rg BT 83.59 540.65 Td ( Opinion) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 520.85 Td (These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 510.05 Td (financial statements based on our audits. ) Tj ET Q q 0 0 0 rg BT 198.05 510.05 Td (W) Tj ET Q q 0 0 0 rg BT 205.82 510.05 Td (e are a public accounting firm registered with the PCAOB and are required to be independent with ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 499.25 Td (respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 488.45 Td (Exchange Commission and the PCAOB.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 468.65 Td (W) Tj ET Q q 0 0 0 rg BT 57.77 468.65 Td (e conducted our audits in accordance with the standards of the PCAOB. ) Tj ET Q q 0 0 0 rg BT 318.29 468.65 Td (Those standards require that we plan and perform the audit to ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 457.85 Td (obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 447.05 Td (audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 425.45 Td (and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 414.65 Td (by management, as well as evaluating the overall presentation of the financial statements. ) Tj ET Q q 0 0 0 rg BT 374.47 414.65 Td (W) Tj ET Q q 0 0 0 rg BT 382.25 414.65 Td (e believe that our audits provide a reasonable ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 403.85 Td (basis for our opinion.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 370.85 Td (/s/DELOITTE & T) Tj ET Q q 0 0 0 rg BT 124.28 370.85 Td (OUCHE LLP) Tj ET Q q 0 0 0 rg BT 178.28 370.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.85 Td (Chicago, Illinois) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.85 Td (February 28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.85 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 322.85 Td (e have served as the Company) Tj ET Q q 0 0 0 rg BT 182.76 322.85 Td (s auditor since 1988.) 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 (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 156.96 682.25 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 156.47 562.25 Td (The new ERP) Tj ET Q q 0 0 0 rg BT 211.65 562.25 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 and for many business units within the Company is an update to a legacy system product. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (The implementation of a worldwide ERP) Tj ET Q q 0 0 0 rg BT 214.32 538.25 Td ( system af) Tj ET Q q 0 0 0 rg BT 254.68 538.25 Td (fects the processes that constitute the Company's internal control over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (financial reporting and requires testing for ef) Tj ET Q q 0 0 0 rg BT 229.19 526.25 Td (fectiveness as the implementation progresses. ) Tj ET Q q 0 0 0 rg BT 413.96 526.25 Td (The Company expects that the new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (ERP) Tj ET Q q 0 0 0 rg BT 67.97 514.25 Td ( system will enhance the overall system of internal controls over financial reporting through further automation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (integration of business processes, although it is not being implemented in response to any identified deficiency in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 490.25 Td (s internal controls over financial reporting. ) Tj ET Q q 0 0 0 rg BT 265.04 490.25 Td (The Conversion will happen in two stages. ) Tj ET Q q 0 0 0 rg BT 438.16 490.25 Td (The first stage involved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (converting the primary legacy ERP) Tj ET Q q 0 0 0 rg BT 190.70 478.25 Td ( system. ) Tj ET Q q 0 0 0 rg BT 225.42 478.25 Td (As of the first quarter of 2018, all business units previously on the primary legacy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (system have converted to the new ERP) Tj ET Q q 0 0 0 rg BT 205.70 466.25 Td ( system. ) Tj ET Q q 0 0 0 rg BT 240.80 466.25 Td (The second stage will convert those companies that remained on their local ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (ERP) Tj ET Q q 0 0 0 rg BT 67.97 454.25 Td ( system after the date of acquisition. ) Tj ET Q q 0 0 0 rg BT 214.97 454.25 Td (The second stage is ongoing as of December 31, 2018. ) Tj ET Q q 0 0 0 rg BT 435.47 454.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 485.37 454.25 Td (, early in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (fourth quarter of 2018, the Company migrated the Distribution segment to a common ERP) Tj ET Q q 0 0 0 rg BT 411.79 442.25 Td ( system. ) Tj ET Q q 0 0 0 rg BT 446.88 442.25 Td (The implementation did not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (result in any material changes to the Company) Tj ET Q q 0 0 0 rg BT 238.56 430.25 Td (s internal control over financial reporting. ) Tj ET Q q 0 0 0 rg BT 408.04 430.25 Td (The implementation was not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (completed in response to any identified deficiencies in the Company) Tj ET Q q 0 0 0 rg BT 326.87 418.25 Td (s internal control over financial reporting. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (Other than the ERP) Tj ET Q q 0 0 0 rg BT 127.67 394.25 Td ( implementations, there have been no changes in the Company) Tj ET Q q 0 0 0 rg BT 380.93 394.25 Td (s internal control over financial reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (identified in connection with the evaluation required by Rules 13a-15 under the Exchange ) Tj ET Q q 0 0 0 rg BT 411.84 382.25 Td (Act during the last fiscal quarter that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (have materially af) Tj ET Q q 0 0 0 rg BT 122.00 370.25 Td (fected, or are reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 308.96 370.25 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 382.82 370.25 Td (s internal control over financial reporting.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (MANAGEMENTS REPOR) Tj ET Q q 0 0 0 rg BT 171.59 346.25 Td (T) Tj ET Q q 0 0 0 rg BT 178.08 346.25 Td ( ON INTERNAL) Tj ET Q q 0 0 0 rg BT 250.32 346.25 Td ( CONTROL) Tj ET Q q 0 0 0 rg BT 302.83 346.25 Td ( OVER FINANCIAL) Tj ET Q q 0 0 0 rg BT 392.84 346.25 Td ( REPOR) Tj ET Q q 0 0 0 rg BT 429.99 346.25 Td (TING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 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 50.00 310.25 Td (the Company) Tj ET Q q 0 0 0 rg BT 102.95 310.25 Td (. ) Tj ET Q q 0 0 0 rg BT 110.27 310.25 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 50.00 298.25 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 50.00 286.25 Td (United States of ) Tj ET Q q 0 0 0 rg BT 116.38 286.25 Td (America.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 262.25 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 50.00 250.25 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 50.00 238.25 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 50.00 226.25 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 50.00 214.25 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 50.00 202.25 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 512.66 202.25 Td (s assets that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (could have a material ef) Tj ET Q q 0 0 0 rg BT 145.88 190.25 Td (fect on the financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 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 50.00 154.25 Td (to financial statement preparation and may not prevent or detect misstatements. Further) Tj ET Q q 0 0 0 rg BT 401.43 154.25 Td (, because of changes in conditions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 142.25 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 50.00 118.25 Td (Management conducted an evaluation of the ef) Tj ET Q q 0 0 0 rg BT 237.52 118.25 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 50.00 106.25 Td (framework in the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 121.36 106.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 179.05 106.25 Td (ol - Integrated Framework) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.97 106.25 Td ( \(2013\) issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 488.55 106.25 Td (ganizations of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 94.25 Td (readway Commission. Management excluded ) Tj ET Q q 0 0 0 rg BT 243.31 94.25 Td (V) Tj ET Q q 0 0 0 rg BT 249.42 94.25 Td (alley Farms, Industrias Rotor Pump, and the asset acquisition of SPD of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (Midtronics, Inc \(Note 3 - ) Tj ET Q q 0 0 0 rg BT 152.20 82.25 Td (Acquisitions\) from its assessment of internal controls over financial reporting as these acquisitions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (occurred in 2018. ) Tj ET Q q 0 0 0 rg BT 122.57 70.25 Td (This exclusion is in accordance with the general guidance from the Staf) Tj ET Q q 0 0 0 rg BT 408.68 70.25 Td (f of the Securities and Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (Commission that an assessment of a recently acquired business may be omitted from the scope of management) Tj ET Q q 0 0 0 rg BT 496.55 58.25 Td (s assessment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (internal control over financial reporting for one year following the acquisition. ) Tj ET Q q 0 0 0 rg BT 368.88 46.25 Td (The net sales and total assets of current year ) 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 /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (acquisitions represented was approximately 3.0 percent and 5.2 percent, respectively) Tj ET Q q 0 0 0 rg BT 388.12 742.10 Td (, of the consolidated financial statement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (amounts as of and for the year ended December 31, 2018. Based on its evaluation, management concluded that the Company) Tj ET Q q 0 0 0 rg BT 555.13 730.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (system of internal control over financial reporting was ef) Tj ET Q q 0 0 0 rg BT 277.52 718.10 Td (fective as of December 31, 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Our independent registered public accounting firm has issued an audit report on the ef) Tj ET Q q 0 0 0 rg BT 393.88 694.10 Td (fectiveness of the Company) Tj ET Q q 0 0 0 rg BT 508.01 694.10 Td (s internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (control over financial reporting as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.39 682.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.97 682.10 Td (. ) Tj ET Q q 0 0 0 rg BT 285.29 682.10 Td (This report appears on page 70.) 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 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 Shareholders and the Board of Directors 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 /F2 9.00 Tf ET q 0 0 0 rg BT 50.00 686.45 Td (Opinion on Internal Contr) Tj ET Q q 0 0 0 rg BT 152.11 686.45 Td (ol over) Tj ET Q q 0 0 0 rg BT 178.18 686.45 Td ( Financial Reporting) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 666.65 Td (W) Tj ET Q q 0 0 0 rg BT 57.77 666.65 Td (e have audited the internal control over financial reporting of Franklin Electric Co., Inc. and subsidiaries \(the Company\) as of December ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 655.85 Td (31, 2018, based on criteria established in ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 199.21 655.85 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 251.13 655.85 Td (ol - Integrated Framework \(2013\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.60 655.85 Td ( issued by the Committee of Sponsoring ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 645.05 Td (Or) Tj ET Q q 0 0 0 rg BT 59.33 645.05 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 125.40 645.05 Td (T) Tj ET Q q 0 0 0 rg BT 130.58 645.05 Td (readway Commission \(COSO\). In our opinion, the Company maintained, in all material respects, ef) Tj ET Q q 0 0 0 rg BT 489.09 645.05 Td (fective internal ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (control over financial reporting as of December 31, 2018, based on criteria established in ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 372.89 634.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 424.81 634.25 Td (ol - Integrated Framework \(2013\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.28 634.25 Td ( ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 623.45 Td (issued by COSO.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 603.65 Td (W) Tj ET Q q 0 0 0 rg BT 57.77 603.65 Td (e have also audited, in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 335.69 603.65 Td (Accounting Oversight Board \(United States\) \(PCAOB\), the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 592.85 Td (consolidated financial statements and financial statement schedule as of and for the year ended December 31, 2018, of the Company and our ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 582.05 Td (report dated February 28, 2019, expressed an unqualified opinion on those financial statements.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (As described in Management) Tj ET Q q 0 0 0 rg BT 157.72 562.25 Td (s Report on Internal Control over Financial Reporting, management excluded ) Tj ET Q q 0 0 0 rg BT 438.73 562.25 Td (V) Tj ET Q q 0 0 0 rg BT 444.23 562.25 Td (alley Farms Supply) Tj ET Q q 0 0 0 rg BT 513.65 562.25 Td (, Inc., ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 551.45 Td (\("V) Tj ET Q q 0 0 0 rg BT 62.17 551.45 Td (alley Farms"\), and Industrias Rotor Pump S.A. \(Industrias Rotor Pump\), and the asset acquisition of the Stationary Power Division ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 540.65 Td (\(SPD\) of Midtronics, from its assessment of internal control over financial reporting as these acquisitions occurred in 2018. ) Tj ET Q q 0 0 0 rg BT 504.72 540.65 Td (The combined ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 529.85 Td (net sales and total assets of these acquisitions represented approximately 3.0 percent and 5.2 percent, respectively) Tj ET Q q 0 0 0 rg BT 458.27 529.85 Td (, of the consolidated ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 519.05 Td (financial statement amounts as of and for the year ended December 31, 2018. ) Tj ET Q q 0 0 0 rg BT 330.15 519.05 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 374.55 519.05 Td (, our audit did not include the internal control over ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (financial reporting at these acquired companies.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 50.00 488.45 Td (Basis for) Tj ET Q q 0 0 0 rg BT 83.59 488.45 Td ( Opinion ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 468.65 Td (The Company) Tj ET Q q 0 0 0 rg BT 103.74 468.65 Td (s management is responsible for maintaining ef) Tj ET Q q 0 0 0 rg BT 274.03 468.65 Td (fective internal control over financial reporting and for its assessment of the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 457.85 Td (ef) Tj ET Q q 0 0 0 rg BT 56.83 457.85 Td (fectiveness of internal control over financial reporting, included in the accompanying Management) Tj ET Q q 0 0 0 rg BT 415.70 457.85 Td (s Report on Internal Control over ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 447.05 Td (Financial Reporting. Our responsibility is to express an opinion on the Company) Tj ET Q q 0 0 0 rg BT 342.97 447.05 Td (s internal control over financial reporting based on our audit. ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (W) Tj ET Q q 0 0 0 rg BT 57.77 436.25 Td (e are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 425.45 Td (with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 405.65 Td (W) Tj ET Q q 0 0 0 rg BT 57.77 405.65 Td (e conducted our audit in accordance with the standards of the PCAOB. ) Tj ET Q q 0 0 0 rg BT 314.79 405.65 Td (Those standards require that we plan and perform the audit to obtain ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 394.85 Td (reasonable assurance about whether ef) Tj ET Q q 0 0 0 rg BT 188.27 394.85 Td (fective internal control over financial reporting was maintained in all material respects. Our audit ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 384.05 Td (included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 373.25 Td (evaluating the design and operating ef) Tj ET Q q 0 0 0 rg BT 187.04 373.25 Td (fectiveness of internal control based on the assessed risk, and performing such other procedures as we ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 362.45 Td (considered necessary in the circumstances. ) Tj ET Q q 0 0 0 rg BT 206.27 362.45 Td (W) Tj ET Q q 0 0 0 rg BT 214.05 362.45 Td (e believe that our audit provides a reasonable basis for our opinion.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 50.00 342.65 Td (Definition and Limitations of Internal Contr) Tj ET Q q 0 0 0 rg BT 220.60 342.65 Td (ol over) Tj ET Q q 0 0 0 rg BT 246.67 342.65 Td ( Financial Reporting) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 322.85 Td (A) Tj ET Q q 0 0 0 rg BT 56.00 322.85 Td ( company) Tj ET Q q 0 0 0 rg BT 93.74 322.85 Td (s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 312.05 Td (financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 301.25 Td (principles. ) Tj ET Q q 0 0 0 rg BT 89.49 301.25 Td (A) Tj ET Q q 0 0 0 rg BT 95.50 301.25 Td ( company) Tj ET Q q 0 0 0 rg BT 133.24 301.25 Td (s internal control over financial reporting includes those policies and procedures that \(1\) pertain to the maintenance of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 290.45 Td (records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; \(2\) provide ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 279.65 Td (reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 268.85 Td (accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 258.05 Td (management and directors of the company; and \(3\) provide reasonable assurance regarding prevention or timely detection of unauthorized ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 247.25 Td (acquisition, use, or disposition of the company) Tj ET Q q 0 0 0 rg BT 220.48 247.25 Td (s assets that could have a material ef) Tj ET Q q 0 0 0 rg BT 351.51 247.25 Td (fect on the financial statements.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 227.45 Td (Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. ) Tj ET Q q 0 0 0 rg BT 471.38 227.45 Td (Also, projections of any ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 216.65 Td (evaluation of ef) Tj ET Q q 0 0 0 rg BT 106.31 216.65 Td (fectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 205.85 Td (that the degree of compliance with the policies or procedures may deteriorate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.85 Td (/s/ DELOITTE & ) Tj ET Q q 0 0 0 rg BT 125.36 164.85 Td (T) Tj ET Q q 0 0 0 rg BT 131.29 164.85 Td (OUCHE LLP) Tj ET Q q 0 0 0 rg BT 185.64 164.85 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.85 Td (Chicago, Illinois ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.85 Td (February 28, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 116.85 Td (ITEM 9B. OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 182.60 116.85 Td (TION ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.85 Td (None.) Tj ET Q endstream endobj 143 0 obj <> endobj 144 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (71) 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) Tj ET Q q 0 0 0 rg BT 503.49 694.25 Td (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 (May3, 2019) 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 178.71 670.25 Td (TION CONCERNING NOMINEES ) Tj ET Q q 0 0 0 rg BT 326.76 670.25 Td (AND CONTINUING DIRECT) Tj ET Q q 0 0 0 rg BT 452.12 670.25 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 222.31 622.25 Td (THE REGISTRANT) Tj ET Q q 0 0 0 rg BT 305.73 622.25 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 (May3, 2019) 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 (May3, 2019) 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) Tj ET Q q 0 0 0 rg BT 310.41 454.25 Td (s Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 414.00 454.25 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 (May3, 2019) 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) Tj ET Q q 0 0 0 rg BT 310.78 310.25 Td (s Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 414.38 310.25 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 (May3, 2019) 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 291.81 298.25 Td ( OWNERSHIP) Tj ET Q q 0 0 0 rg BT 352.27 298.25 Td ( OF CER) Tj ET Q q 0 0 0 rg BT 388.90 298.25 Td (T) Tj ET Q q 0 0 0 rg BT 394.21 298.25 Td (AIN BENEFICIAL) Tj ET Q q 0 0 0 rg BT 472.44 298.25 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 340.36 286.25 Td (AUTHORIZED FOR ISSUANCE UNDER EQUITY) Tj ET Q q 0 0 0 rg BT 554.42 286.25 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. CER) Tj ET Q q 0 0 0 rg BT 114.93 250.25 Td (T) Tj ET Q q 0 0 0 rg BT 120.86 250.25 Td (AIN RELA) Tj ET Q q 0 0 0 rg BT 168.74 250.25 Td (TIONSHIPS ) Tj ET Q q 0 0 0 rg BT 225.15 250.25 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 276.35 250.25 Td (TED ) Tj ET Q q 0 0 0 rg BT 299.23 250.25 Td (TRANSACTIONS, ) Tj ET Q q 0 0 0 rg BT 383.14 250.25 Td (AND DIRECT) Tj ET Q q 0 0 0 rg BT 446.03 250.25 Td (OR INDEPENDENCE ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (The information required by Item 13 is set forth in the Company) Tj ET Q q 0 0 0 rg BT 310.78 226.25 Td (s Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 414.38 226.25 Td (Annual Meeting of Shareholders to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (be held on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.16 214.25 Td (May3, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.99 214.25 Td (, under the heading INFORMA) Tj ET Q q 0 0 0 rg BT 273.57 214.25 Td (TION ) Tj ET Q q 0 0 0 rg BT 299.40 214.25 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 333.67 214.25 Td ( ) Tj ET Q q 0 0 0 rg BT 335.99 214.25 Td (THE BOARD ) Tj ET Q q 0 0 0 rg BT 394.88 214.25 Td (AND ITS COMMITTEES, and is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (incorporated herein by reference.) 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 (May3, 2019) 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 ( 2: 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 (2019) 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.) Tj ET Q endstream endobj 145 0 obj <><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 146 0 R>> 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 /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 286.3 740.68505859375 m 325.77021484375 740.68505859375 l s q 0 0 0 rg BT 286.30 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 291.67 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 305.76 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 312.25 742.25 Td ( IV) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (ITEM 15. 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 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 60.5 647.9833984375 m 385.392578125 647.9833984375 l s q 0 0 1 rg BT 60.50 649.32 Td (Consolidated Statements of Income for the three years ended December 31, 2018) 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 60.5 632.9833984375 m 450.65625 632.9833984375 l s q 0 0 1 rg BT 60.50 634.32 Td (Consolidated Statements of Comprehensive Income for the three years ended December 31, 2018) 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 60.5 617.9833984375 m 377.3505859375 617.9833984375 l s q 0 0 1 rg BT 60.50 619.32 Td (Consolidated Balance Sheets as of December 31, 2018 and December 31, 2017) 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 60.5 602.9833984375 m 402.3603515625 602.9833984375 l s q 0 0 1 rg BT 60.50 604.32 Td (Consolidated Statements of Cash Flows for the three years ended December 31, 2018) 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 60.5 587.9833984375 m 382.072265625 587.9833984375 l s q 0 0 1 rg BT 60.50 589.32 Td (Consolidated Statements of Equity for the three years ended December 31, 2018) 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 66.5 572.9833984375 m 241.4755859375 572.9833984375 l s q 0 0 1 rg BT 66.50 574.32 Td (Notes to Consolidated Financial Statements) 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 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 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 60.5 542.9833984375 m 260.2705078125 542.9833984375 l s q 0 0 1 rg BT 60.50 544.32 Td ( Schedule II - ) Tj ET Q q 0 0 1 rg BT 119.46 544.32 Td (V) Tj ET Q q 0 0 1 rg BT 125.58 544.32 Td (aluation and Qualifying ) Tj ET Q q 0 0 1 rg BT 222.50 544.32 Td (Accounts) 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 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 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 60.5 478.9833984375 m 267.1064453125 478.9833984375 l s q 0 0 1 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 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 465.32 Td (Management Contract, Compensatory Plan, or ) Tj ET Q q 0 0 0 rg BT 254.52 465.32 Td (Arrangement is denoted by an asterisk \(*\).) 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Stock Plan \(incorporated by reference to Exhibit ) Tj ET Q q 0 0 1 rg BT 405.69 623.17 Td (A) Tj ET Q q 0 0 1 rg BT 412.36 623.17 Td ( of the Company) Tj ET Q q 0 0 1 rg BT 482.07 623.17 Td (s Proxy Statement ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 611.8333984375 m 297.6923828125 611.8333984375 l s q 0 0 1 rg BT 103.00 613.17 Td (for the ) Tj ET Q q 0 0 1 rg BT 131.33 613.17 Td (Annual Meeting held on ) Tj ET Q q 0 0 1 rg BT 230.75 613.17 Td (April 29, 2005\)*) 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 79.15 598.17 Td (10.2) 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 103 596.8333984375 m 535.099609375 596.8333984375 l s q 0 0 1 rg BT 103.00 598.17 Td (Franklin Electric Co., Inc. ) Tj ET Q q 0 0 1 rg BT 209.36 598.17 Td (Amended and Restated Stock Plan \(incorporated by reference to Exhibit ) Tj ET Q q 0 0 1 rg BT 500.38 598.17 Td (A) Tj ET Q q 0 0 1 rg BT 507.05 598.17 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 586.8333984375 m 414.630859375 586.8333984375 l s q 0 0 1 rg BT 103.00 588.17 Td (Company) Tj ET Q q 0 0 1 rg BT 144.67 588.17 Td (s Proxy Statement for the ) Tj ET Q q 0 0 1 rg BT 248.26 588.17 Td (Annual Meeting held on ) Tj ET Q q 0 0 1 rg BT 347.69 588.17 Td (April 24, 2009\)*) 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 79.15 571.17 Td (10.3) 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 103 569.8333984375 m 537.3505859375 569.8333984375 l s q 0 0 1 rg BT 103.00 571.17 Td (Franklin Electric Co., Inc. 2012 Stock Plan \(incorporated by reference to Exhibit ) Tj ET Q q 0 0 1 rg BT 428.19 571.17 Td (A) Tj ET Q q 0 0 1 rg BT 434.86 571.17 Td ( of the Company) Tj ET Q q 0 0 1 rg BT 504.57 571.17 Td (s Proxy ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 559.8333984375 m 332.9560546875 559.8333984375 l s q 0 0 1 rg BT 103.00 561.17 Td (Statement for the ) Tj ET Q q 0 0 1 rg BT 173.82 561.17 Td (Annual Meeting held on May 4, 2012\)*) 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 79.15 546.17 Td (10.4) 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 103 544.8333984375 m 535.16796875 544.8333984375 l s q 0 0 1 rg BT 103.00 546.17 Td (Franklin Electric Co., Inc. Non-employee Directors) Tj ET Q q 0 0 1 rg BT 311.63 546.17 Td ( Deferred Compensation Plan, as amended and restated ) 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 103 534.8333984375 m 550.373046875 534.8333984375 l s q 0 0 1 rg BT 103.00 536.17 Td (\(incorporated by reference to Exhibit 10.1 of the Company) Tj ET Q q 0 0 1 rg BT 340.98 536.17 Td (s Form 10-Q for the fiscal quarter ended on ) Tj ET Q q 0 0 1 rg BT 516.76 536.17 Td (April 1, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 524.8333984375 m 131.330078125 524.8333984375 l s q 0 0 1 rg BT 103.00 526.17 Td (2006\)*) 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 79.15 510.17 Td (10.5) 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 103 508.8333984375 m 550.75390625 508.8333984375 l s q 0 0 1 rg BT 103.00 510.17 Td (First ) Tj ET Q q 0 0 1 rg BT 123.29 510.17 Td (Amendment to the Franklin Electric Co., Inc. 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Pension Restoration Plan \(incorporated by reference to Exhibit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 424.8333984375 m 435.6953125 424.8333984375 l s q 0 0 1 rg BT 103.00 426.17 Td (10.4 of the Company) Tj ET Q q 0 0 1 rg BT 190.21 426.17 Td (s Form 10-K filed for the fiscal year ended January 3, 2009\)*) 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 79.15 411.17 Td (10.8) 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 103 409.8333984375 m 515.421875 409.8333984375 l s q 0 0 1 rg BT 103.00 411.17 Td (First ) Tj ET Q q 0 0 1 rg BT 123.29 411.17 Td (Amendment to the Franklin Electric Co., Inc. 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Supplemental Retirement and Deferred Compensation Plan \(incorporated by reference ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 335.8333984375 m 484.865234375 335.8333984375 l s q 0 0 1 rg BT 103.00 337.17 Td (to Exhibit 10.1 of the Company) Tj ET Q q 0 0 1 rg BT 232.43 337.17 Td (s Form 10-Q for the fiscal quarter ended September 29, 2012\)*) 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 74.15 322.17 Td (10.1) Tj ET Q q 0 0 0 rg BT 91.65 322.17 Td (1) 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 103 320.8333984375 m 547.0673828125 320.8333984375 l s q 0 0 1 rg BT 103.00 322.17 Td (First ) Tj ET Q q 0 0 1 rg BT 123.29 322.17 Td (Amendment to the Franklin Electric Co., Inc. 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Supplemental Retirement and Deferred Compensation Plan ) 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 103 270.93339843750005 m 542.306640625 270.93339843750005 l s q 0 0 1 rg BT 103.00 272.27 Td (\(incorporated by reference to Exhibit 10.13 of the Company) Tj ET Q q 0 0 1 rg BT 345.98 272.27 Td (s Form 10-K for the fiscal year ended January 3, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 260.93339843750005 m 131.330078125 260.93339843750005 l s q 0 0 1 rg BT 103.00 262.27 Td (2015\)*) 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 74.15 248.17 Td (10.13) 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 103 246.83339843750002 m 550.9443359375 246.83339843750002 l s q 0 0 1 rg BT 103.00 248.17 Td (Third ) Tj ET Q q 0 0 1 rg BT 127.17 248.17 Td (Amendment to the Franklin Electric Co., Inc. Supplemental Retirement and Deferred Compensation Plan ) 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 103 236.83339843750002 m 542.306640625 236.83339843750002 l s q 0 0 1 rg BT 103.00 238.17 Td (\(incorporated by reference to Exhibit 10.14 of the Company) Tj ET Q q 0 0 1 rg BT 345.98 238.17 Td (s Form 10-K for the fiscal year ended January 3, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 226.83339843750002 m 131.330078125 226.83339843750002 l s q 0 0 1 rg BT 103.00 228.17 Td (2015\)*) 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 74.15 210.17 Td (10.14) 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 103 208.83339843750002 m 551.505859375 208.83339843750002 l s q 0 0 1 rg BT 103.00 210.17 Td (Retirement and Consulting ) Tj ET Q q 0 0 1 rg BT 212.71 210.17 Td (Agreement between the Company and R. Scott ) Tj ET Q q 0 0 1 rg BT 403.04 210.17 Td (T) Tj ET Q q 0 0 1 rg BT 408.80 210.17 Td (rumbull \(incorporated by reference ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 198.83339843750002 m 373.5322265625 198.83339843750002 l s q 0 0 1 rg BT 103.00 200.17 Td (to Exhibit 10.1 of the Company) Tj ET Q q 0 0 1 rg BT 232.43 200.17 Td (s Form 8-K filed on May 6, 2014\)*) 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 74.15 187.17 Td (10.15) 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 103 185.83339843750002 m 545.36328125 185.83339843750002 l s q 0 0 1 rg BT 103.00 187.17 Td (Employment ) Tj ET Q q 0 0 1 rg BT 156.61 187.17 Td (Agreement between the Company and Gregg C. Sengstack \(incorporated by reference to Exhibit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 175.83339843750002 m 434.85546875 175.83339843750002 l s q 0 0 1 rg BT 103.00 177.17 Td (10.13 of the Company) Tj ET Q q 0 0 1 rg BT 195.21 177.17 Td (s Form 10-K for the fiscal year ended December 29, 2012\)*) 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 74.15 162.17 Td (10.16) 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 103 160.83339843750002 m 559.5380859375 160.83339843750002 l s q 0 0 1 rg BT 103.00 162.17 Td (Employment ) Tj ET Q q 0 0 1 rg BT 156.61 162.17 Td (Agreement between the Company and John J. Haines \(incorporated by reference to Exhibit 10.14 of ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 150.83339843750002 m 399.025390625 150.83339843750002 l s q 0 0 1 rg BT 103.00 152.17 Td (the Company) Tj ET Q q 0 0 1 rg BT 159.38 152.17 Td (s Form 10-K for the fiscal year ended December 29, 2012\)*) 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 74.15 138.17 Td (10.17) 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 103 136.83339843750002 m 547.3603515625 136.83339843750002 l s q 0 0 1 rg BT 103.00 138.17 Td (Form of Confidentiality and Non-Compete ) Tj ET Q q 0 0 1 rg BT 276.59 138.17 Td (Agreement between the Company and Gregg C. Sengstack, John J. ) 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 103 126.83339843750002 m 555.0654296875 126.83339843750002 l s q 0 0 1 rg BT 103.00 128.17 Td (Haines, Steven ) Tj ET Q q 0 0 1 rg BT 165.30 128.17 Td (W) Tj ET Q q 0 0 1 rg BT 173.83 128.17 Td (. ) Tj ET Q q 0 0 1 rg BT 178.27 128.17 Td (Aikman, Daniel J. Crose, DeLancey ) Tj ET Q q 0 0 1 rg BT 325.27 128.17 Td (W) Tj ET Q q 0 0 1 rg BT 333.79 128.17 Td (. Davis, Julie S. Freigang, Donald P) Tj ET Q q 0 0 1 rg BT 476.01 128.17 Td (. Kenney) Tj ET Q q 0 0 1 rg BT 511.46 128.17 Td (, Robert J. ) 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 103 116.83339843750002 m 524.8359375 116.83339843750002 l s q 0 0 1 rg BT 103.00 118.17 Td (Stone, Jonathan M. Grandon, and Dr) Tj ET Q q 0 0 1 rg BT 249.65 118.17 Td (. Paul N. Chhabra \(incorporated by reference to Exhibit 10.15 of the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 103 106.83339843750002 m 369.3232421875 106.83339843750002 l s q 0 0 1 rg BT 103.00 108.17 Td (Company) Tj ET Q q 0 0 1 rg BT 144.67 108.17 Td (s Form 10-K for the fiscal year ended January 1, 2005\)*) 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 endstream endobj 155 0 obj <> endobj 156 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (77) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 723.50 55.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 723.50 457.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 663.50 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 663.50 457.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 613.50 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 613.50 457.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 563.50 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 563.50 457.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 513.50 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 513.50 457.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 458.50 55.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 458.50 457.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 406.50 55.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 406.50 457.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 340.50 55.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 340.50 457.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 262.50 55.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 262.50 457.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 186.50 55.00 -47.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 186.50 457.00 -47.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 104.50 55.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.50 104.50 457.00 -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 49.5 723.5 m 104.5 723.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 104.5 723.5 m 561.5 723.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 70 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 104.5 70 m BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.10 728.17 Td (Number) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.00 728.17 Td (Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.15 714.07 Td (10.18) 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 107 712.7333984375 m 552.1904296875 712.7333984375 l s q 0 0 1 rg BT 107.00 714.07 Td (Form of Employment Security ) Tj ET Q q 0 0 1 rg BT 231.43 714.07 Td (Agreement between the Company and Steven ) Tj ET Q q 0 0 1 rg BT 416.75 714.07 Td (W) Tj ET Q q 0 0 1 rg BT 425.27 714.07 Td (. ) Tj ET Q q 0 0 1 rg BT 429.72 714.07 Td (Aikman, DeLancey ) Tj ET Q q 0 0 1 rg BT 510.34 714.07 Td (W) Tj ET Q q 0 0 1 rg BT 518.86 714.07 Td (. Davis, ) 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 107 702.7333984375 m 531.6240234375 702.7333984375 l s q 0 0 1 rg BT 107.00 704.07 Td (Julie S. Freigang, Donald P) Tj ET Q q 0 0 1 rg BT 215.89 704.07 Td (. Kenney and Robert J. Stone \(incorporated by reference to Exhibit 10.1 of the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 692.7333984375 m 289.763671875 692.7333984375 l s q 0 0 1 rg BT 107.00 694.07 Td (Company) Tj ET Q q 0 0 1 rg BT 148.67 694.07 Td (s Form 8-K filed on May 7, 2013\)*) 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 78.15 679.07 Td (10.19) 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 107 677.7333984375 m 545.505859375 677.7333984375 l s q 0 0 1 rg BT 107.00 679.07 Td (Form of Employment Security ) Tj ET Q q 0 0 1 rg BT 231.43 679.07 Td (Agreement between the Company and Jonathan M. Grandon \(incorporated by ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 667.7333984375 m 446.091796875 667.7333984375 l s q 0 0 1 rg BT 107.00 669.07 Td (reference to Exhibit 10.1 of the Company) Tj ET Q q 0 0 1 rg BT 276.12 669.07 Td (s Form 10-Q filed on November 1, 2016\)*) 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 78.15 654.07 Td (10.20) 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 107 652.7333984375 m 539.9541015625 652.7333984375 l s q 0 0 1 rg BT 107.00 654.07 Td (Form of Employment Security ) Tj ET Q q 0 0 1 rg BT 231.43 654.07 Td (Agreement between the Company and Dr) Tj ET Q q 0 0 1 rg BT 397.21 654.07 Td (. Paul N. Chhabra \(incorporated by ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 642.7333984375 m 422.21484375 642.7333984375 l s q 0 0 1 rg BT 107.00 644.07 Td (reference to Exhibit 10.1 of the Company) Tj ET Q q 0 0 1 rg BT 276.12 644.07 Td (s Form 10-Q filed on May 8, 2018\)*) 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 78.15 629.07 Td (10.21) 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 107 627.7333984375 m 532.78125 627.7333984375 l s q 0 0 1 rg BT 107.00 629.07 Td (Description of the Executive Of) Tj ET Q q 0 0 1 rg BT 234.55 629.07 Td (ficer ) Tj ET Q q 0 0 1 rg BT 254.82 629.07 Td (Annual Incentive Cash Bonus Program \(incorporated by reference to ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 617.7333984375 m 455.8134765625 617.7333984375 l s q 0 0 1 rg BT 107.00 619.07 Td (Exhibit 10.19 of the Company) Tj ET Q q 0 0 1 rg BT 231.16 619.07 Td (s Form 10-K for the fiscal year ended January 2, 2016\)*) 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 78.15 604.07 Td (10.22) 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 107 602.7333984375 m 513.5283203125 602.7333984375 l s q 0 0 1 rg BT 107.00 604.07 Td (Franklin Electric Co., Inc. Management Incentive Plan \(incorporated by referenceto Exhibit ) Tj ET Q q 0 0 1 rg BT 478.81 604.07 Td (A) Tj ET Q q 0 0 1 rg BT 485.48 604.07 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 592.7333984375 m 464.44140625 592.7333984375 l s q 0 0 1 rg BT 107.00 594.07 Td (Company) Tj ET Q q 0 0 1 rg BT 148.67 594.07 Td (s Proxy Statement for the ) Tj ET Q q 0 0 1 rg BT 252.26 594.07 Td (Annual Meeting of Shareholders held May 8, 2015\)*) 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 78.15 579.07 Td (10.23) 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 107 576.8333984375 m 541.0283203125 576.8333984375 l s q 0 0 1 rg BT 107.00 578.17 Td (Form of Non-Qualified Stock Option ) Tj ET Q q 0 0 1 rg BT 257.82 578.17 Td (Agreement for Non-Director Employees \(incorporated by reference to ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 566.8333984375 m 380.0224609375 566.8333984375 l s q 0 0 1 rg BT 107.00 568.17 Td (Exhibit 10.1 of the Company) Tj ET Q q 0 0 1 rg BT 226.16 568.17 Td (s Form 8-K filed on March 12, 2013\)*) 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 78.15 554.07 Td (10.24) 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 107 552.7333984375 m 552.419921875 552.7333984375 l s q 0 0 1 rg BT 107.00 554.07 Td (Form of Non-Qualified Stock Option ) Tj ET Q q 0 0 1 rg BT 257.82 554.07 Td (Agreement for Director Employees \(incorporated by reference to Exhibit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 542.7333984375 m 348.0791015625 542.7333984375 l s q 0 0 1 rg BT 107.00 544.07 Td (10.2 of the Company) Tj ET Q q 0 0 1 rg BT 194.21 544.07 Td (s Form 8-K filed on March 12, 2013\)*) 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 78.15 529.07 Td (10.25) 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 107 527.7333984375 m 545.1982421875 527.7333984375 l s q 0 0 1 rg BT 107.00 529.07 Td (Form of Restricted Stock Unit ) Tj ET Q q 0 0 1 rg BT 230.05 529.07 Td (Agreement for Non-Director Employees \(incorporated by reference to Exhibit ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 517.7333984375 m 348.0791015625 517.7333984375 l s q 0 0 1 rg BT 107.00 519.07 Td (10.5 of the Company) Tj ET Q q 0 0 1 rg BT 194.21 519.07 Td (s Form 8-K filed on March 12, 2013\)*) 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 78.15 504.07 Td (10.26) 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 107 502.7333984375 m 555.4765625 502.7333984375 l s q 0 0 1 rg BT 107.00 504.07 Td (Form of Restricted Stock Unit ) Tj ET Q q 0 0 1 rg BT 230.05 504.07 Td (Agreement for Director Employees \(incorporated by reference to Exhibit 10.4 of ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 492.7333984375 m 317.2490234375 492.7333984375 l s q 0 0 1 rg BT 107.00 494.07 Td (the Company) Tj ET Q q 0 0 1 rg BT 163.38 494.07 Td (s Form 8-K filed on March 12, 2013\)*) 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 78.15 479.07 Td (10.27) 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 107 477.7333984375 m 555.75 477.7333984375 l s q 0 0 1 rg BT 107.00 479.07 Td (Form of Restricted Stock ) Tj ET Q q 0 0 1 rg BT 209.77 479.07 Td (Agreement for Non-Director Employees \(incorporated by reference to Exhibit 10.3 of ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 467.7333984375 m 317.2490234375 467.7333984375 l s q 0 0 1 rg BT 107.00 469.07 Td (the Company) Tj ET Q q 0 0 1 rg BT 163.38 469.07 Td (s Form 8-K filed on March 12, 2013\)*) 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 78.15 449.07 Td (10.28) 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 107 447.7333984375 m 515.3837890625 447.7333984375 l s q 0 0 1 rg BT 107.00 449.07 Td (Form of Restricted Stock ) Tj ET Q q 0 0 1 rg BT 209.77 449.07 Td (A) Tj ET Q q 0 0 1 rg BT 216.07 449.07 Td (ward ) Tj ET Q q 0 0 1 rg BT 238.01 449.07 Td (Agreement for Director Employees \(incorporated by reference to the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 437.7333984375 m 289.763671875 437.7333984375 l s q 0 0 1 rg BT 107.00 439.07 Td (Company) Tj ET Q q 0 0 1 rg BT 148.67 439.07 Td (s Form 8-K filed on May 4, 2012\)*) 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 78.15 422.07 Td (10.29) 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 107 420.7333984375 m 552.0390625 420.7333984375 l s q 0 0 1 rg BT 107.00 422.07 Td (Form of Performance Stock Unit ) Tj ET Q q 0 0 1 rg BT 240.59 422.07 Td (A) Tj ET Q q 0 0 1 rg BT 246.89 422.07 Td (ward ) Tj ET Q q 0 0 1 rg BT 268.83 422.07 Td (Agreement for Non-Director Employees \(incorporated by reference to ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 410.7333984375 m 380.0224609375 410.7333984375 l s q 0 0 1 rg BT 107.00 412.07 Td (Exhibit 10.6 of the Company) Tj ET Q q 0 0 1 rg BT 226.16 412.07 Td (s Form 8-K filed on March 12, 2013\)*) 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 78.15 397.07 Td (10.30) 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 107 395.7333984375 m 531.4873046875 395.7333984375 l s q 0 0 1 rg BT 107.00 397.07 Td (Form of Performance Stock Unit ) Tj ET Q q 0 0 1 rg BT 240.59 397.07 Td (A) Tj ET Q q 0 0 1 rg BT 246.89 397.07 Td (ward ) Tj ET Q q 0 0 1 rg BT 268.83 397.07 Td (Agreement for Director Employees \(incorporated by reference to ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 385.7333984375 m 380.0224609375 385.7333984375 l s q 0 0 1 rg BT 107.00 387.07 Td (Exhibit 10.7 of the Company) Tj ET Q q 0 0 1 rg BT 226.16 387.07 Td (s Form 8-K filed on March 12, 2013\)*) 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 78.15 365.07 Td (10.31) 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 107 363.7333984375 m 521.8046875 363.7333984375 l s q 0 0 1 rg BT 107.00 365.07 Td (Third ) Tj ET Q q 0 0 1 rg BT 131.17 365.07 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 1 rg BT 357.77 365.07 Td (Agreement by and among the Company) Tj ET Q q 0 0 1 rg BT 516.80 365.07 Td (, ) 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 107 353.7333984375 m 530.1640625 353.7333984375 l s q 0 0 1 rg BT 107.00 355.07 Td (Prudential Investment Management, Inc., and the purchasers named therein \(incorporated by reference to ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 343.7333984375 m 357.25390625 343.7333984375 l s q 0 0 1 rg BT 107.00 345.07 Td (Exhibit 4.2 of the Company) Tj ET Q q 0 0 1 rg BT 221.16 345.07 Td (s Form 8-K filed on June 2, 2015\)) 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 78.15 331.07 Td (10.32) 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 107 329.7333984375 m 552.810546875 329.7333984375 l s q 0 0 1 rg BT 107.00 331.07 Td (Amendment No. 1 to ) Tj ET Q q 0 0 1 rg BT 193.75 331.07 Td (Third ) Tj ET Q q 0 0 1 rg BT 217.92 331.07 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 1 rg BT 444.52 331.07 Td (Agreement, dated October ) 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 107 319.7333984375 m 538.1865234375 319.7333984375 l s q 0 0 1 rg BT 107.00 321.07 Td (28, 2016, by and among the Company) Tj ET Q q 0 0 1 rg BT 259.11 321.07 Td (, Prudential Investment Management, Inc., and the purchasers named ) 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 107 309.7333984375 m 539.666015625 309.7333984375 l s q 0 0 1 rg BT 107.00 311.07 Td (therein \(incorporated by reference to Exhibit 10.3 to the Company) Tj ET Q q 0 0 1 rg BT 374.69 311.07 Td (s Form 10-Q filed on November 1, 2016\)) 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 78.15 296.07 Td (10.33) 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 107 294.7333984375 m 552.2734375 294.7333984375 l s q 0 0 1 rg BT 107.00 296.07 Td (Amendment No. 2 to ) Tj ET Q q 0 0 1 rg BT 193.75 296.07 Td (Third ) Tj ET Q q 0 0 1 rg BT 217.92 296.07 Td (Amended and Restated Note Purchase and Private Shelf ) Tj ET Q q 0 0 1 rg BT 444.52 296.07 Td (Agreement, dated July 30, ) 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 107 284.7333984375 m 546.2578125 284.7333984375 l s q 0 0 1 rg BT 107.00 286.07 Td (2018, by and among the Company) Tj ET Q q 0 0 1 rg BT 244.11 286.07 Td (, PGIM, Inc. \(formerly known as Prudential Investment Management, Inc., ) 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 107 274.7333984375 m 555.1982421875 274.7333984375 l s q 0 0 1 rg BT 107.00 276.07 Td (and the purchasers named therein \(incorporated by reference to Exhibit 10.2 to the Company) Tj ET Q q 0 0 1 rg BT 480.76 276.07 Td (s Form 10-Q filed ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 107 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Form 8-K filed on October 1, 2018\)) 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 78.15 636.07 Td (10.41) 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 107 634.7333984375 m 551.6240234375 634.7333984375 l s q 0 0 1 rg BT 107.00 636.07 Td (Stock Redemption ) Tj ET Q q 0 0 1 rg BT 183.11 636.07 Td (Agreement, dated ) Tj ET Q q 0 0 1 rg BT 256.14 636.07 Td (April 15, 2015, between the Company and Ms. Patricia Schaefer and Ms. ) 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 107 624.7333984375 m 536.619140625 624.7333984375 l s q 0 0 1 rg BT 107.00 626.07 Td (Diane Humphrey \(incorporated by reference to Exhibit 99.1 of the Company) Tj ET Q q 0 0 1 rg BT 416.62 626.07 Td (s Form 8-K filed on ) Tj ET Q q 0 0 1 rg BT 498.01 626.07 Td (April 20, ) 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 107 614.7333984375 m 130.330078125 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