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q 0 0 0 rg BT 309.56 497.85 Td (American consumers and has a readership of more than ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 379.05 Td (digital and mobile media, brand licensing activities, database-related activities, af) Tj ET Q
q 0 0 0 rg BT 408.39 379.05 Td (finity marketing, and business-to-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 365.85 Td (business marketing products and services. Our focus is on the entertainment, food, lifestyle, parenting, and home ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 248.25 Td (Our local media segment consists of 17 television stations located across the U.S. concentrated in fast growing ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 58.35 221.85 Td (filiates, two MyNetworkTV) Tj ET Q
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q 0 0 0 rg BT 192.36 221.85 Td (filiates, one NBC af) Tj ET Q
q 0 0 0 rg BT 280.14 221.85 Td (filiate, one ) Tj ET Q
q 0 0 0 rg BT 329.32 221.85 Td (ABC af) Tj ET Q
q 0 0 0 rg BT 363.03 221.85 Td (filiate, and two independent stations. Local ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 195.45 Td (on news, sports, and weather) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 134.12 105.40 Td (gest revenue source is advertising. National and local economic conditions af) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 321.00 675.40 Td (ime for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 355.82 675.40 Td ($3.2 billion) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 242.59 649.00 Td (T) Tj ET Q
q 0 0 0 rg BT 248.92 649.00 Td (ravel + Leisure. ) Tj ET Q
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q 0 0 0 rg BT 513.93 635.80 Td (s brands ) Tj ET Q
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q 0 0 0 rg BT 464.03 622.60 Td (The acquisition ) Tj ET Q
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q 0 0 0 rg BT 68.05 571.00 Td (ime Inc. \(UK\) Ltd \(TIUK\) in March 2018. In addition, we initiated a process to sell ) Tj ET Q
q 0 0 0 rg BT 437.78 571.00 Td (TIME, Sports Illustrated, ) Tj ET Q
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q 0 0 0 rg BT 152.65 557.80 Td (filiated brands as well as the Company�) Tj ET Q
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q 0 0 0 rg BT 435.57 557.80 Td (iant ) Tj ET Q
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q 0 0 0 rg BT 60.95 544.60 Td (iant\), which were all acquired in the ) Tj ET Q
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q 0 0 0 rg BT 228.35 544.60 Td (ime acquisition. ) Tj ET Q
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q 0 0 0 rg BT 428.32 544.60 Td (ferent advertising base and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 531.40 Td (tar) Tj ET Q
q 0 0 0 rg BT 61.40 531.40 Td (get audience than the rest of our magazine portfolio, and therefore, we believe they are better suited for success ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 518.20 Td (with a new owner) Tj ET Q
q 0 0 0 rg BT 127.90 518.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 133.20 518.20 Td (W) Tj ET Q
q 0 0 0 rg BT 142.70 518.20 Td (e anticipate agreements to sell these businesses to be finalized in early fiscal 2019.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 491.80 Td (In March 2018, Meredith unveiled a new sales and marketing structure for national media. Meredith�) Tj ET Q
q 0 0 0 rg BT 494.14 491.80 Td (s new national ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 478.60 Td (media sales structure puts in place strategic account teams comprised of brand, corporate, and digital sellers and ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 439.00 Td (In July 2017, we sold a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 154.80 439.00 Td (70 percent) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 300.30 439.00 Td (T) Tj ET Q
q 0 0 0 rg BT 306.25 439.00 Td (ennis LLC, which operates the Family Circle ) Tj ET Q
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q 0 0 0 rg BT 513.02 439.00 Td (ennis ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 425.80 Td (Center) Tj ET Q
q 0 0 0 rg BT 78.71 425.80 Td (. In May 2018, we closed the sale of Meredith Xcelerated Marketing \(MXM\).) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 50.00 400.60 Td (The Magnolia Journal, ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 387.40 Td (October 2017, Meredith announced an increase to the rate base to 1.2 million starting with the Spring 2018 issue. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 374.20 Td (This increased rate base compares to the 400,000 initial rate base at launch in the Fall of 2016. In December ) Tj ET Q
BT /F3 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 120.27 347.80 Td (ear by the ) Tj ET Q
q 0 0 0 rg BT 165.78 347.80 Td (Association of Magazine Media.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 133.10 309.40 Td (Ad ) Tj ET Q
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q 0 0 0 rg BT 257.75 309.40 Td (ear List. ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 269.80 Td (rate base of 500,000.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 191.80 Td (and visuals, updated layouts and formats, and a revamped editorial lineup. Incorporating both new editorial content ) Tj ET Q
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F5 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 311.50 309.27 Td (Food) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 449.50 309.27 Td (6) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F5 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F5 10.00 Tf ET
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q 0 0 0 rg BT 59.42 234.43 Td (ravel + Leisure) Tj ET Q
BT /F2 10.00 Tf ET
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q 0 0 0 rg BT 177.43 234.27 Td (ravelandLeisure.com) Tj ET Q
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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q 0 0 0 rg BT 317.43 189.27 Td (ravel and lifestyle) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 447.00 189.27 Td (10) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 449.50 174.27 Td (4) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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q 0 0 0 rg BT 320.14 144.27 Td (oodworking) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
BT /F3 9.00 Tf ET
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BT /F3 9.00 Tf ET
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BT /F3 9.00 Tf ET
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BT /F3 9.00 Tf ET
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q 0 0 0 rg BT 142.82 91.15 Td (culation guaranteed to advertisers. ) Tj ET Q
q 0 0 0 rg BT 271.30 91.15 Td (Actual cir) Tj ET Q
q 0 0 0 rg BT 306.80 91.15 Td (culation generally exceeds rate base and for most of the Company�) Tj ET Q
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BT /F3 9.00 Tf ET
q 0 0 0 rg BT 74.00 82.15 Td (titles, is tracked by the ) Tj ET Q
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q 0 0 0 rg BT 202.23 82.15 Td (Audited Media, which issues periodic statements for audited magazines.) Tj ET Q
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q 0 0 0 rg BT 52.00 68.95 Td (3) Tj ET Q
BT /F3 9.00 Tf ET
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q 0 0 0 rg BT 78.51 68.15 Td (itle transitioned fr) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (In addition to these major magazine titles, we published nearly 275 special interest publications under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (approximately 68 brands in fiscal 2018. ) Tj ET Q
q 0 0 0 rg BT 227.29 728.20 Td (The titles are issued from one to six times annually and sold primarily on ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 105.00 715.00 Td (A) Tj ET Q
q 0 0 0 rg BT 112.34 715.00 Td ( limited number of special interest publication subscriptions are also sold.) Tj ET Q
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q 0 0 0 rg BT 97.96 689.80 Td (Advertising) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 152.96 689.80 Td (�Advertising revenues are generated primarily from sales to clients engaged in consumer ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 676.60 Td (marketing. Many of Meredith�) Tj ET Q
q 0 0 0 rg BT 183.80 676.60 Td (s lar) Tj ET Q
q 0 0 0 rg BT 202.23 676.60 Td (ger magazines of) Tj ET Q
q 0 0 0 rg BT 277.17 676.60 Td (fer regional and demographic editions that contain similar ) Tj ET Q
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q 0 0 0 rg BT 50.00 663.40 Td (editorial content but allow advertisers to customize messages to specific markets or audiences. ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 623.80 Td (segment�) Tj ET Q
q 0 0 0 rg BT 89.71 623.80 Td (s advertising revenues are derived from run-of-press display advertising. Meredith also possesses strategic ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 597.40 Td (and capabilities, including print, television, digital, video, mobile, consumer events, and custom marketing. Our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 584.20 Td (team of creative and marketing experts delivers innovative solutions across multiple media channels that meet each ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 77.49 571.00 Td (s unique advertising and promotional requirements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 544.60 Td (The rates at which we sell print advertising depend on each magazine�) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 155.17 491.80 Td (W) Tj ET Q
q 0 0 0 rg BT 164.67 491.80 Td (e sell digital advertising primarily on a flat rate/sponsorship basis or on a cost per ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 478.60 Td (thousand, or CPM, basis. Flat rate/sponsorship deals are sold on an exclusive basis to advertisers giving them ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 223.49 386.20 Td (s lar) Tj ET Q
q 0 0 0 rg BT 241.92 386.20 Td (gest source of circulation revenues. Revenue per subscription and ) Tj ET Q
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q 0 0 0 rg BT 270.94 373.00 Td (The majority of subscription magazines are also sold by single ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 359.80 Td (copy) Tj ET Q
q 0 0 0 rg BT 70.67 359.80 Td (. Single copies sold on newsstands are distributed primarily through magazine wholesalers, who have the right ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 346.60 Td (to receive credit from the Company for magazines returned to them by retailers.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 320.20 Td (Newsstand sales include sales through traditional newsstands as well as supermarkets, convenience stores, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 307.00 Td (pharmacies and other retail outlets. ) Tj ET Q
q 0 0 0 rg BT 206.80 307.00 Td (W) Tj ET Q
q 0 0 0 rg BT 216.30 307.00 Td (e also publish branded books, including soft-cover �bookazines.� ) Tj ET Q
q 0 0 0 rg BT 505.69 307.00 Td (These are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 293.80 Td (distributed through magazine-style �check-out pockets� at retail outlets and traditional trade book channels. ) Tj ET Q
q 0 0 0 rg BT 526.31 293.80 Td (W) Tj ET Q
q 0 0 0 rg BT 535.81 293.80 Td (e ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 280.60 Td (publish books on a diverse range of topics aligned with our brands, including special commemorative and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 267.40 Td (biographical books. ) Tj ET Q
q 0 0 0 rg BT 139.31 267.40 Td (W) Tj ET Q
q 0 0 0 rg BT 148.81 267.40 Td (e also publish books under various licensed third-party brands and a number of original titles. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 254.20 Td (Our Oxmoor House imprint publishes a variety of home, cooking, and health books under our lifestyle-oriented ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 241.00 Td (brands as well as licensed third-party brands.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 214.60 Td (Our retail distribution operation, ) Tj ET Q
q 0 0 0 rg BT 195.52 214.60 Td (T) Tj ET Q
q 0 0 0 rg BT 201.85 214.60 Td (ime Inc. Retail \(TIR\) provides services relating to wholesale and retail ) Tj ET Q
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q 0 0 0 rg BT 323.52 201.40 Td (TIR, third-party wholesalers purchase our magazines ) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 138.08 175.00 Td (TIR is paid by the wholesalers for magazines they purchase. ) Tj ET Q
q 0 0 0 rg BT 405.77 175.00 Td (TIR generally advances funds to ) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 101.72 135.40 Td (TIR also administers payments from our publisher clients to retailers for promotional allowances, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 122.20 Td (including for the placement of magazines at retail locations.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 95.80 Td (Digital and Mobile Media) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 82.60 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 82.60 Td (e have 35 of our titles available as digital editions, with an audience of approximately 1.6 million. Digital ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 120.56 741.40 Td (s more than 60 websites and nearly 60 mobile-optimized websites provide ideas and inspiration. ) Tj ET Q
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q 0 0 0 rg BT 50.00 728.20 Td (These branded websites focus on the topics that women care about most�celebrity entertainment, food, home, ) Tj ET Q
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q 0 0 0 rg BT 50.00 715.00 Td (entertaining, and meeting the needs of moms�and on delivering powerful content geared toward lifestyle topics ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 145.81 701.80 Td (, style, and wellness. Our ) Tj ET Q
q 0 0 0 rg BT 258.85 701.80 Td (Allrecipes brand alone accounts for 18 web and mobile sites serving ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (24 countries in 12 languages, one app across multiple platforms, and one Skill for ) Tj ET Q
q 0 0 0 rg BT 411.71 688.60 Td (Amazon ) Tj ET Q
q 0 0 0 rg BT 451.11 688.60 Td (Alexa. Fiscal 2018 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (digital traf) Tj ET Q
q 0 0 0 rg BT 95.92 675.40 Td (fic across our various platforms averaged 90 million unique monthly visitors prior to the acquisition of ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 56.33 662.20 Td (ime and more than 135 million in the period following the acquisition of ) Tj ET Q
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q 0 0 0 rg BT 384.16 662.20 Td (ime. Our brands have a strong social ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (networking presence as well. In fiscal 2018, national media reached 126 million Facebook fans, nearly 79 million ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (T) Tj ET Q
q 0 0 0 rg BT 55.95 635.80 Td (witter followers, just over 40 million Instagram followers, approximately 1) Tj ET Q
q 0 0 0 rg BT 385.78 635.80 Td (1 million Pinterest followers, about 42 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (million GooglePlus followers, and 9.5 million ) Tj ET Q
q 0 0 0 rg BT 254.92 622.60 Td (Y) Tj ET Q
q 0 0 0 rg BT 261.76 622.60 Td (ouT) Tj ET Q
q 0 0 0 rg BT 279.09 622.60 Td (ube subscribers.) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (Other revenues are derived from digital and customer relationship marketing, other custom publishing projects, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (brand licensing agreements, and ancillary products and services.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (Affinity Marketing) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 530.20 Td (s acquisition of ) Tj ET Q
q 0 0 0 rg BT 163.14 530.20 Td (T) Tj ET Q
q 0 0 0 rg BT 169.47 530.20 Td (ime, is an af) Tj ET Q
q 0 0 0 rg BT 223.04 530.20 Td (finity marketing company that partners with publishers, brick and mortar ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (retailers, digital partners, airline frequent flier programs, and customer service and direct response call centers. It is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (a major marketer of magazine subscriptions in the U.S. Building on its continuity marketing expertise, Synapse has ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (diversified its business to also market other products and services. For example, Synapse manages several branded ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (continuity membership programs and is developing continuity programs for product partners.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (Brand Licensing) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.93 451.00 Td (�Meredith Brand Licensing generates revenue through multiple long-term trademark licensing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (agreements with retailers, manufacturers, and service providers. Our licensing programs extend the reach of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (Meredith brands into additional consumer channels in the U.S. and abroad.�Currently the world�) Tj ET Q
q 0 0 0 rg BT 472.18 424.60 Td (s second lar) Tj ET Q
q 0 0 0 rg BT 523.91 424.60 Td (gest ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (global licensor) Tj ET Q
q 0 0 0 rg BT 114.63 411.40 Td (, Meredith has direct-to-retail partnerships with leading companies including Better Homes & ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (Gardens at ) Tj ET Q
q 0 0 0 rg BT 99.89 398.20 Td (W) Tj ET Q
q 0 0 0 rg BT 109.39 398.20 Td (almart, Real Simple at Bed Bath & Beyond and ) Tj ET Q
q 0 0 0 rg BT 321.21 398.20 Td (TJ Maxx, InStyle branded hair salons at more than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (260 JC Penney stores, Food & ) Tj ET Q
q 0 0 0 rg BT 186.39 385.00 Td (W) Tj ET Q
q 0 0 0 rg BT 196.33 385.00 Td (ine for HSN, and 300 Southern Living shop-in-shops inside every Dillard�) Tj ET Q
q 0 0 0 rg BT 522.92 385.00 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (department store.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (Our lar) Tj ET Q
q 0 0 0 rg BT 81.26 345.40 Td (gest partnership is Better Homes & Gardens-branded products sold at ) Tj ET Q
q 0 0 0 rg BT 389.60 345.40 Td (W) Tj ET Q
q 0 0 0 rg BT 399.10 345.40 Td (almart stores in the U.S. and at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 332.20 Td (almart.com. ) Tj ET Q
q 0 0 0 rg BT 114.59 332.20 Td (The brand is represented by more than 3,000 products across multiple categories in the home d�cor) Tj ET Q
q 0 0 0 rg BT 550.34 332.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (outdoor living, and garden space. Meredith also has a long-term agreement to license the Better Homes & Gardens ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (brand to Realogy Corporation, which is entering its 10) Tj ET Q
BT /F2 11.00 Tf ET
BT /F2 7.15 Tf ET
q 0 0 0 rg BT 289.82 310.78 Td (th) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.38 305.80 Td ( year as a residential real estate franchise system operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (as Better Homes and Gardens Real Estate, LLC. ) Tj ET Q
q 0 0 0 rg BT 264.85 292.60 Td (The real estate network now includes more than 300 of) Tj ET Q
q 0 0 0 rg BT 506.88 292.60 Td (fices and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (more than 1) Tj ET Q
q 0 0 0 rg BT 102.13 279.40 Td (1,000 real estate professionals across the U.S., Canada, Bahamas, Jamaica, and most recently) Tj ET Q
q 0 0 0 rg BT 511.65 279.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (Australia.�) Tj ET Q
q 0 0 0 rg BT 95.21 266.20 Td (Also in the real estate sector) Tj ET Q
q 0 0 0 rg BT 219.09 266.20 Td (, the Southern Living and Coastal Living brands of) Tj ET Q
q 0 0 0 rg BT 442.83 266.20 Td (fer over 1,200 exclusive ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (home plans, 100 custom home builders, 30 residential communities, and more than 80 interior design professionals.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (Other licensing agreements include the Southern Living Plant Collection at Home Depot, Lowes, and more than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (5,000 independent garden centers; Southern Living and Real Simple with 1800 FLOWERS; plus activewear ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (collections designed for women under the Shape brand. Shape also introduced, in fiscal 2018, a new licensing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (partnership with FGX International for a line of fashion sunglasses.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (The EatingW) Tj ET Q
q 0 0 0 rg BT 108.07 160.60 Td (ell branded line of healthy frozen food entr�es manufactured and distributed by Bellisio Foods Inc. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (expanded its of) Tj ET Q
q 0 0 0 rg BT 117.00 147.40 Td (fering and presence in fiscal 2018. Consumers now have up to 14 frozen entr�es to select from at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (more than 12,000 regional and national grocery locations.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (The Company expands its international reach primarily through international licensing agreements. Meredith�) Tj ET Q
q 0 0 0 rg BT 532.64 107.80 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (national media brands are currently distributed in nearly 80 countries, including a localized presence in more than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (30 countries such as ) Tj ET Q
q 0 0 0 rg BT 141.04 81.40 Td (Australia, China, India, Mexico, Russia, and ) Tj ET Q
q 0 0 0 rg BT 339.11 81.40 Td (T) Tj ET Q
q 0 0 0 rg BT 345.44 81.40 Td (urkey in print and digitally) Tj ET Q
q 0 0 0 rg BT 462.65 81.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 467.95 81.40 Td (The Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (continues to pursue activities that will serve consumers and advertisers while also extending and strengthening the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 Td (reach and vitality of our brands.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (Meredith has licensed exclusive global rights to publish and distribute books based on our consumer) Tj ET Q
q 0 0 0 rg BT 491.53 741.40 Td (-leading ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (brands, including the powerful Better Homes & Gardens imprint, to a book publisher) Tj ET Q
q 0 0 0 rg BT 423.93 728.20 Td (. Meredith creates book ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (content and retains all approval and content rights while the publisher is responsible for book layout and design, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (printing, sales and marketing, distribution, and inventory management. Meredith receives royalties based on sales ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (subject to a guaranteed minimum.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (The Foundry) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 112.04 662.20 Td (�The Foundry is a creative content studio servicing clients across a broad range of industries. ) Tj ET Q
q 0 0 0 rg BT 530.34 662.20 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (services include using our content creation expertise to develop content marketing programs across multiple ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (platforms, including native advertising that enable clients to engage new consumers and build long-term ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (relationships with existing customers.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (Production and Delivery) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (Paper) Tj ET Q
q 0 0 0 rg BT 74.60 583.00 Td (, printing, and postage costs accounted for 21 percent of the national media segment�) Tj ET Q
q 0 0 0 rg BT 447.57 583.00 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 454.60 583.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 503.18 583.00 Td ( operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (expenses.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (Coated publication paper is the major raw material essential to the national media segment. ) Tj ET Q
q 0 0 0 rg BT 453.92 543.40 Td (W) Tj ET Q
q 0 0 0 rg BT 463.42 543.40 Td (e directly purchase all ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (of the paper for our magazine production and custom publishing business. ) Tj ET Q
q 0 0 0 rg BT 378.51 530.20 Td (The Company has contractual ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (agreements with major paper manufacturers to ensure adequate supplies for planned publishing requirements. ) Tj ET Q
q 0 0 0 rg BT 534.86 517.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (price of paper is driven by overall market conditions and is therefore dif) Tj ET Q
q 0 0 0 rg BT 366.86 503.80 Td (ficult to predict. In fiscal 2018, average ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (paper prices decreased 1 percent. Paper prices declined 5 percent and 2 percent in fiscal 2017 and 2016, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (respectively) Tj ET Q
q 0 0 0 rg BT 102.43 477.40 Td (. Management anticipates slight increases in paper prices in fiscal 2019.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (Meredith has multi-year printing contracts with two major domestic printers for the printing of our magazines.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (Postage is a significant expense of the national media segment. ) Tj ET Q
q 0 0 0 rg BT 329.92 424.60 Td (W) Tj ET Q
q 0 0 0 rg BT 339.42 424.60 Td (e continually seek the most economical and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 411.40 Td (fective methods for mail delivery) Tj ET Q
q 0 0 0 rg BT 204.25 411.40 Td (, including cost-saving strategies that leverage work-sharing opportunities ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (of) Tj ET Q
q 0 0 0 rg BT 58.96 398.20 Td (fered within the postal rate structure. Periodical postage accounts for over 80 percent of Meredith�) Tj ET Q
q 0 0 0 rg BT 490.56 398.20 Td (s postage costs, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (while other mail items�direct mail, replies, and bills�account for nearly 20 percent. ) Tj ET Q
q 0 0 0 rg BT 430.10 385.00 Td (The Governors of the United ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (States Postal Service \(USPS\) review prices for mailing services annually and adjust postage rates periodically) Tj ET Q
q 0 0 0 rg BT 532.55 371.80 Td (. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (general, postage rate changes are capped by law at the rate of inflation as measured by the Consumer Price Index. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (The most recent rate change was an increase of less than two percent ef) Tj ET Q
q 0 0 0 rg BT 364.07 345.40 Td (fective January 2018. ) Tj ET Q
q 0 0 0 rg BT 461.01 345.40 Td (W) Tj ET Q
q 0 0 0 rg BT 470.95 345.40 Td (ith the exception of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (fiscal 2016, postage prices have risen in each of Meredith�) Tj ET Q
q 0 0 0 rg BT 306.58 332.20 Td (s last five fiscal years. In fiscal 2016, we saw a rare ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (reduction in postage prices due to a roll-back of the temporary 4.3 percent exigent increase implemented in January ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (2014. ) Tj ET Q
q 0 0 0 rg BT 77.30 305.80 Td (While we expect postage prices to again increase in January 2019, an ongoing legislatively mandated review ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (of the existing law by the Postal Regulatory Commission could potentially result in adjustments to the current rate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (setting regime. ) Tj ET Q
q 0 0 0 rg BT 117.92 279.40 Td (The impact of any such change could be ef) Tj ET Q
q 0 0 0 rg BT 306.48 279.40 Td (fective as early as the first quarter of calendar 2019. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (Meredith continues to work independently and with others to encourage and help the USPS find and implement ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 253.00 Td (ficiencies to contain rate increases. ) Tj ET Q
q 0 0 0 rg BT 214.52 253.00 Td (W) Tj ET Q
q 0 0 0 rg BT 224.02 253.00 Td (e cannot, however) Tj ET Q
q 0 0 0 rg BT 303.90 253.00 Td (, predict future changes in the postal rates or the impact ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (they will have on our national media business.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 218.60 Td (Subscription fulfillment services for certain of Meredith�) Tj ET Q
q 0 0 0 rg BT 299.87 218.60 Td (s national media brands are provided by third parties. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 205.40 Td (While Meredith expects to transition all subscription fulfillment services to third-party providers in fiscal 2019, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 192.20 Td (during fiscal 2018 we provided fulfillment and related services for the national media brands acquired with ) Tj ET Q
q 0 0 0 rg BT 523.87 192.20 Td (T) Tj ET Q
q 0 0 0 rg BT 530.20 192.20 Td (ime as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 179.00 Td (well as for other publishers�) Tj ET Q
q 0 0 0 rg BT 172.60 179.00 Td ( magazines. Other consumer marketing functions provided include fulfillment, customer ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 165.80 Td (service and database management services, including order and payment processing and call-center support.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 139.40 Td (National magazine newsstand distribution services are also provided by third parties through multi-year agreements ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 126.20 Td (as well as through our retail distribution operation ) Tj ET Q
q 0 0 0 rg BT 272.81 126.20 Td (TIR.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 99.80 Td (Competition) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 86.60 Td (Publishing is a highly competitive business. ) Tj ET Q
q 0 0 0 rg BT 245.66 86.60 Td (The Company�) Tj ET Q
q 0 0 0 rg BT 311.34 86.60 Td (s magazines and related publishing products and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 73.40 Td (services compete with other mass media, including the internet and many other leisure-time activities. Competition ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 60.20 Td (for advertising dollars is based primarily on advertising rates, circulation levels, reader demographics, advertiser ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 47.00 Td (results, and sales team ef) Tj ET Q
q 0 0 0 rg BT 159.46 47.00 Td (fectiveness. Competition for readers is based principally on editorial content, marketing ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (skills, price, and customer service. ) Tj ET Q
q 0 0 0 rg BT 204.37 741.40 Td (While competition is strong for established titles, gaining readership for newer ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (magazines and specialty publications is especially competitive.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (Local Media) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (Local media contributed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.26 662.20 Td (31 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.38 662.20 Td ( of Meredith�) Tj ET Q
q 0 0 0 rg BT 264.42 662.20 Td (s consolidated revenues and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.27 662.20 Td (66 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.39 662.20 Td ( of the combined operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (profit from national media and local media operations in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 301.39 649.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.96 649.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 355.27 649.00 Td (These results reflect the acquired ) Tj ET Q
q 0 0 0 rg BT 503.19 649.00 Td (T) Tj ET Q
q 0 0 0 rg BT 509.52 649.00 Td (ime ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (business since the date of the acquisition. Information about the Company�) Tj ET Q
q 0 0 0 rg BT 379.01 635.80 Td (s television stations at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.61 635.80 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 540.03 635.80 Td (, is ) Tj ET Q
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q 0 0 0 rg BT 312.83 430.45 Td (, Nielsen Media Resear) Tj ET Q
q 0 0 0 rg BT 387.18 430.45 Td (ch. The national rank is fr) Tj ET Q
q 0 0 0 rg BT 470.44 430.45 Td (om the 2017-2018 ) Tj ET Q
BT /F3 8.00 Tf ET
q 0 0 0 rg BT 53.00 422.45 Td ( DMA) Tj ET Q
q 0 0 0 rg BT 78.18 422.45 Td ( ranking.) Tj ET Q
BT /F3 8.00 Tf ET
BT /F3 5.20 Tf ET
q 0 0 0 rg BT 53.00 412.07 Td (2����) Tj ET Q
BT /F3 8.00 Tf ET
q 0 0 0 rg BT 60.80 408.45 Td (A) Tj ET Q
q 0 0 0 rg BT 65.24 408.45 Td (verage audience shar) Tj ET Q
q 0 0 0 rg BT 133.81 408.45 Td (e r) Tj ET Q
q 0 0 0 rg BT 142.18 408.45 Td (epr) Tj ET Q
q 0 0 0 rg BT 152.55 408.45 Td (esents the estimated per) Tj ET Q
q 0 0 0 rg BT 228.90 408.45 Td (centage of households using television tuned to the station in the DMA. The per) Tj ET Q
q 0 0 0 rg BT 483.23 408.45 Td (centages shown r) Tj ET Q
q 0 0 0 rg BT 538.49 408.45 Td (eflect) Tj ET Q
BT /F3 8.00 Tf ET
q 0 0 0 rg BT 53.00 400.45 Td ( the average total day shar) Tj ET Q
q 0 0 0 rg BT 144.69 400.45 Td (es \(6:00 a.m. to 2:00 a.m.\) for the November 2017, February 2018, and May 2018 measur) Tj ET Q
q 0 0 0 rg BT 433.46 400.45 Td (ement periods.) Tj ET Q
BT /F2 10.00 Tf ET
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (Operations) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (The principal sources of the local media segment�) Tj ET Q
q 0 0 0 rg BT 269.01 358.60 Td (s revenues are: 1\) local non-political advertising focusing on the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (immediate geographic area of the stations; 2\) national non-political advertising; 3\) retransmission of our television ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (signals by cable, satellite, telecommunications, and over) Tj ET Q
q 0 0 0 rg BT 297.51 332.20 Td (-the-top service providers; 4\) geographic and demographic-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.05 Td (tar) Tj ET Q
q 0 0 0 rg BT 61.40 319.05 Td (geted digital and print advertising programs sold to third parties; 5\) digital advertising on the stations�) Tj ET Q
q 0 0 0 rg BT 508.75 319.05 Td ( websites, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.85 Td (mobile-optimized websites, and apps; and 6\) political advertising which is cyclical with peaks occurring in our odd ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.65 Td (numbered fiscal years \(e.g., fiscal 2015, fiscal 2017\) and particularly in our second fiscal quarter of those fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.45 Td (years.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (The stations sell commercial time to both local/regional and national advertisers. Rates for spot advertising are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.85 Td (influenced primarily by the market size, number of media competitors, including in-market broadcasters, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.65 Td (audience ratings and demographics. ) Tj ET Q
q 0 0 0 rg BT 210.16 226.65 Td (The lar) Tj ET Q
q 0 0 0 rg BT 241.42 226.65 Td (ger a station�) Tj ET Q
q 0 0 0 rg BT 298.23 226.65 Td (s audience in any particular daypart, the more leverage a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.45 Td (station has in negotiating advertising rates. Generally) Tj ET Q
q 0 0 0 rg BT 283.58 213.45 Td (, as supply and demand fluctuate in the market, so do a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (station�) Tj ET Q
q 0 0 0 rg BT 82.39 200.20 Td (s advertising rates. Most national advertising is sold by independent representative firms while local/regional ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (advertising is sold by the sales staf) Tj ET Q
q 0 0 0 rg BT 202.56 187.00 Td (f at each station.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (T) Tj ET Q
q 0 0 0 rg BT 55.95 160.60 Td (ypically 40 to 50 percent of a market�) Tj ET Q
q 0 0 0 rg BT 221.20 160.60 Td (s television advertising revenue is generated during local newscasts. Stations ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (are continually working to grow their news ratings, which in turn increase advertising revenues.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 121.00 Td (s 16 national network af) Tj ET Q
q 0 0 0 rg BT 199.48 121.00 Td (filiations at our television stations also influence advertising rates. Generally) Tj ET Q
q 0 0 0 rg BT 536.01 121.00 Td (, a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (network af) Tj ET Q
q 0 0 0 rg BT 97.14 107.80 Td (filiation agreement provides a station the exclusive right to broadcast network programming in its local ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (service area. In return, the network has the right to sell most of the commercial advertising aired during network ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (programs and receives programming fees from the station.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (Retransmission consent revenue is generated from cable, satellite, telecommunications, and over) Tj ET Q
q 0 0 0 rg BT 474.67 741.40 Td (-the-top service ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (providers who pay Meredith for access to our television station signals so that they may retransmit our signals and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (char) Tj ET Q
q 0 0 0 rg BT 68.73 715.00 Td (ge their subscribers for this programming. ) Tj ET Q
q 0 0 0 rg BT 256.41 715.00 Td (These fees increased in each of the last three fiscal years primarily ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (due to renegotiations of expiring contracts and negotiated contract step-ups on existing contracts ef) Tj ET Q
q 0 0 0 rg BT 485.69 701.80 Td (fective during ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (the year) Tj ET Q
q 0 0 0 rg BT 84.51 688.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (Programming fees paid to the networks are in essence a portion of the retransmission consent fees that Meredith ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (receives from cable, satellite, telecommunications, and over) Tj ET Q
q 0 0 0 rg BT 313.37 649.00 Td (-the-top service providers, which pay Meredith to carry ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (our television programming in our markets. In addition to increases in fiscal 2017, programming fees paid to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (networks increased significantly in fiscal 2018 due to renegotiations of expired contracts.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (Stations generally also pay networks for certain programming and services such as marquee sports \(professional ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (football, college basketball, and Olympics\) and news services. ) Tj ET Q
q 0 0 0 rg BT 326.86 583.00 Td (While Meredith�) Tj ET Q
q 0 0 0 rg BT 399.86 583.00 Td (s relations with the networks ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (historically have been very good, the Company can make no assurances they will remain so over time.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (The Federal Communications Commission \(FCC\) has permitted broadcast television station licensees to use their ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (digital spectrum for a wide variety of services such as high-definition television programming, audio, data, mobile ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (applications, and other types of communication, subject to the requirement that each broadcaster provide at least ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (one free video channel equal in quality to the current technical standards. Most of our stations are broadcasting one ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (or more additional programming streams on their digital channels: two of our markets have MyNetworkTV) Tj ET Q
q 0 0 0 rg BT 521.46 490.60 Td (, nine ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (carry COZI ) Tj ET Q
q 0 0 0 rg BT 103.56 477.40 Td (TV) Tj ET Q
q 0 0 0 rg BT 116.80 477.40 Td (, six broadcast the Escape network, three air the Bounce network, and three air the LAFF network.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (The costs of television programming are significant. In addition to network fees, there are two principal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (programming costs for Meredith: locally produced programming, including local news, and purchased syndicated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (programming. ) Tj ET Q
q 0 0 0 rg BT 115.18 424.60 Td (The Company continues to increase our locally produced news and entertainment programming to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (control content and costs and to attract advertisers. Syndicated programming costs are based lar) Tj ET Q
q 0 0 0 rg BT 470.11 411.40 Td (gely on demand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (from stations in the market and can fluctuate significantly) Tj ET Q
q 0 0 0 rg BT 303.43 398.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (Additionally) Tj ET Q
q 0 0 0 rg BT 104.89 371.80 Td (, in fiscal 2018 as a part of the ) Tj ET Q
q 0 0 0 rg BT 240.32 371.80 Td (T) Tj ET Q
q 0 0 0 rg BT 246.65 371.80 Td (ime acquisition, MNI ) Tj ET Q
q 0 0 0 rg BT 343.61 371.80 Td (T) Tj ET Q
q 0 0 0 rg BT 349.56 371.80 Td (ar) Tj ET Q
q 0 0 0 rg BT 357.90 371.80 Td (geted Media \(MNI\) became a part of local ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (media�) Tj ET Q
q 0 0 0 rg BT 79.93 358.60 Td (s operations. ) Tj ET Q
q 0 0 0 rg BT 138.09 358.60 Td (Through MNI, we provide clients with a single point of contact for a range of tar) Tj ET Q
q 0 0 0 rg BT 493.45 358.60 Td (geted digital ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (and print advertising programs primarily on a local and regional level. Our digital products include programmatic ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (of) Tj ET Q
q 0 0 0 rg BT 58.96 332.20 Td (ferings and custom display advertising on local and national websites. Our print products include customized ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (geographic and demographic-tar) Tj ET Q
q 0 0 0 rg BT 192.74 319.00 Td (geted advertising programs in approximately 35 top U.S. magazines, including our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (own national media magazines and those of other leading magazine publishers.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (Competition) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 266.20 Td (s television stations compete directly for advertising dollars and programming in their respective markets ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (with other local television stations, radio stations, cable/satellite providers�) Tj ET Q
q 0 0 0 rg BT 378.49 253.00 Td ( programming, and network local sales. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (The stations further compete against these media competitors�) Tj ET Q
q 0 0 0 rg BT 322.57 239.80 Td ( and other local and national digital and mobile media ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (properties. Other mass media providers, such as newspapers and their related websites and apps, are also ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (competitors. ) Tj ET Q
q 0 0 0 rg BT 106.83 213.40 Td (Advertisers compare audience viewership/consumption, market share, audience demographics, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (advertising rates, whether local, network, or syndicated, when making advertising decisions.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (Regulation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (The ownership, operation, and sale of broadcast television stations, including those licensed to the Company) Tj ET Q
q 0 0 0 rg BT 526.76 160.60 Td (, are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (subject to the jurisdiction of the FCC, which engages in extensive regulation of the broadcasting industry under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (authority granted by the Communications ) Tj ET Q
q 0 0 0 rg BT 235.44 134.20 Td (Act of 1934, as amended \(Communications ) Tj ET Q
q 0 0 0 rg BT 428.82 134.20 Td (Act\), including authority to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (promulgate rules and regulations governing broadcasting. ) Tj ET Q
q 0 0 0 rg BT 306.09 121.00 Td (The Communications ) Tj ET Q
q 0 0 0 rg BT 403.25 121.00 Td (Act requires broadcasters to serve ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (the public interest. ) Tj ET Q
q 0 0 0 rg BT 133.70 107.80 Td (Among other things, the FCC assigns frequency bands; determines stations�) Tj ET Q
q 0 0 0 rg BT 467.12 107.80 Td ( locations and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (operating parameters; issues, renews, revokes, and modifies station licenses; regulates and limits changes in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (ownership or control of station licenses; regulates equipment used by stations; regulates station employment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (practices; regulates certain program content, including commercial matters in children�) Tj ET Q
q 0 0 0 rg BT 432.41 68.20 Td (s programming; has the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 Td (authority to impose penalties for violations of its rules or the Communications ) Tj ET Q
q 0 0 0 rg BT 396.45 55.00 Td (Act; and imposes annual fees on ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (stations. Reference should be made to the Communications ) Tj ET Q
q 0 0 0 rg BT 313.03 741.40 Td (Act, as well as to the FCC�) Tj ET Q
q 0 0 0 rg BT 431.27 741.40 Td (s rules, public notices, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (rulings for further information concerning the nature and extent of federal regulation of broadcast stations.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 703.00 Td (Broadcast licenses are granted for eight-year periods. ) Tj ET Q
q 0 0 0 rg BT 286.81 703.00 Td (The Communications ) Tj ET Q
q 0 0 0 rg BT 383.97 703.00 Td (Act directs the FCC to renew a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 689.80 Td (broadcast license if the station has served the public interest and is in substantial compliance with the provisions of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 676.60 Td (the Communications ) Tj ET Q
q 0 0 0 rg BT 143.49 676.60 Td (Act and FCC rules and policies. Management believes the Company is in substantial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 663.40 Td (compliance with all applicable provisions of the Communications ) Tj ET Q
q 0 0 0 rg BT 341.44 663.40 Td (Act and FCC rules and policies and knows of no ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 650.20 Td (reason why Meredith�) Tj ET Q
q 0 0 0 rg BT 146.53 650.20 Td (s broadcast station licenses will not be renewed.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 625.00 Td (The FCC has, on occasion, changed the rules related to ownership of media assets, including rules relating to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 611.80 Td (ownership of one or more television stations in a market. ) Tj ET Q
q 0 0 0 rg BT 303.05 611.80 Td (The FCC�) Tj ET Q
q 0 0 0 rg BT 346.75 611.80 Td (s media ownership rules are subject to further ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 598.60 Td (review by the FCC, various court appeals, petitions for reconsideration before the FCC, and possible actions by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 585.40 Td (Congress. ) Tj ET Q
q 0 0 0 rg BT 96.25 585.40 Td (W) Tj ET Q
q 0 0 0 rg BT 105.75 585.40 Td (e cannot predict the impact of any of these developments on our business.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 560.20 Td (The Communications ) Tj ET Q
q 0 0 0 rg BT 147.16 560.20 Td (Act and the FCC also regulate relationships between television broadcasters and cable, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 547.00 Td (satellite, and telecommunications television providers. Under these provisions, most cable systems must devote a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 533.80 Td (specified portion of their channel capacity to the carriage of the signals of local television stations that elect to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 520.60 Td (exercise this right to mandatory carriage. ) Tj ET Q
q 0 0 0 rg BT 232.35 520.60 Td (Alternatively) Tj ET Q
q 0 0 0 rg BT 289.67 520.60 Td (, television stations may elect to restrict cable systems from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 507.40 Td (carrying their signals without their written permission, referred to as retransmission consent. Congress and the FCC ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 494.20 Td (have established and implemented generally similar market-specific requirements for mandatory carriage of local ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 481.00 Td (television stations by satellite television providers when those providers choose to provide a market�) Tj ET Q
q 0 0 0 rg BT 491.43 481.00 Td (s local ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 467.80 Td (television signals. ) Tj ET Q
q 0 0 0 rg BT 131.38 467.80 Td (These rules, including related rules on exclusivity) Tj ET Q
q 0 0 0 rg BT 349.69 467.80 Td (, good faith bar) Tj ET Q
q 0 0 0 rg BT 416.69 467.80 Td (gaining, and over) Tj ET Q
q 0 0 0 rg BT 493.14 467.80 Td (-the-top ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 454.60 Td (carriage are subject to further review by the FCC and possible actions by Congress. ) Tj ET Q
q 0 0 0 rg BT 419.73 454.60 Td (W) Tj ET Q
q 0 0 0 rg BT 429.23 454.60 Td (e cannot predict the impact of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 441.40 Td (any of these developments on our business.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 416.20 Td (The FCC proposed a plan, called the National Broadband Plan, to increase the amount of spectrum available in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 403.00 Td (U.S. for wireless broadband use. In furtherance of the National Broadband Plan, Congress enacted, and the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 389.80 Td (President signed into law) Tj ET Q
q 0 0 0 rg BT 160.19 389.80 Td (, legislation authorizing the FCC to conduct a �reverse auction� for which television ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 376.60 Td (broadcast licensees could submit bids to receive compensation in return for relinquishing all or a portion of their ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 363.40 Td (rights in the television spectrum of their full service and/or Class ) Tj ET Q
q 0 0 0 rg BT 337.47 363.40 Td (A) Tj ET Q
q 0 0 0 rg BT 344.80 363.40 Td ( stations. Under the new law) Tj ET Q
q 0 0 0 rg BT 469.34 363.40 Td (, the FCC may hold ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 350.20 Td (one reverse auction and a follow-up auction for the newly freed spectrum. ) Tj ET Q
q 0 0 0 rg BT 378.15 350.20 Td (The FCC completed both auctions in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 337.00 Td (calendar 2017.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 311.80 Td (Even if a television licensee did not participate in the reverse auction, the results of the auction could materially ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 298.60 Td (impact a station�) Tj ET Q
q 0 0 0 rg BT 122.70 298.60 Td (s operations. ) Tj ET Q
q 0 0 0 rg BT 180.86 298.60 Td (The FCC has the authority to force a television station to change channels and/or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 285.40 Td (modify its coverage area to allow the FCC to rededicate certain channels within the television band for wireless ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 272.20 Td (broadband use. Last year) Tj ET Q
q 0 0 0 rg BT 159.52 272.20 Td (, the FCC released a list of television stations that must change their facilities as part of this ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 259.00 Td (�repacking� process. Several of our stations are among the hundreds of stations selected for repacking of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 245.80 Td (television band. ) Tj ET Q
q 0 0 0 rg BT 122.20 245.80 Td (The repacking process will be ongoing for several years and may change. ) Tj ET Q
q 0 0 0 rg BT 447.91 245.80 Td (The FCC will reimburse ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 232.60 Td (us for certain repacking expenses subject to an overall industry cap on the reimbursed expenses of all repacked ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 219.40 Td (television stations. ) Tj ET Q
q 0 0 0 rg BT 134.43 219.40 Td (W) Tj ET Q
q 0 0 0 rg BT 143.94 219.40 Td (e cannot predict whether or how this process will ultimately af) Tj ET Q
q 0 0 0 rg BT 418.66 219.40 Td (fect the Company or our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 206.20 Td (television stations.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 401.52 701.80 Td (ime�) Tj ET Q
q 0 0 0 rg BT 421.07 701.80 Td (s business into our existing ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 93.79 530.20 Td (The dif) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 490.60 Td (dif) Tj ET Q
q 0 0 0 rg BT 98.02 490.60 Td (ficulties in achieving anticipated cost savings, syner) Tj ET Q
q 0 0 0 rg BT 326.62 490.60 Td (gies, business opportunities, and growth prospects ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 464.20 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 464.20 Td (dif) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 424.60 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 424.60 Td (dif) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 411.40 Td (challenges in attracting and retaining key personnel.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (Many of these factors are outside of our control and any one of these factors could result in increased costs, ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 503.38 371.80 Td (gy) Tj ET Q
q 0 0 0 rg BT 513.67 371.80 Td (, which ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (the operations are integrated successfully) Tj ET Q
q 0 0 0 rg BT 230.72 345.40 Td (, the full benefits, including the syner) Tj ET Q
q 0 0 0 rg BT 394.87 345.40 Td (gies, cost savings, revenue growth, or ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 508.93 332.20 Td (, additional ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 369.53 319.00 Td (All of these factors could decrease or delay ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 158.81 305.80 Td (fect of the acquisition, and negatively impact our business, operating results, and financial ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 96.44 292.60 Td (As a result, we cannot provide any assurance that the acquisition of ) Tj ET Q
q 0 0 0 rg BT 395.29 292.60 Td (T) Tj ET Q
q 0 0 0 rg BT 401.62 292.60 Td (ime will result in the realization of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (the full benefits that we anticipate.) Tj ET Q
BT /F1 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 519.51 200.20 Td (There ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (may be overlaps in the current of) Tj ET Q
q 0 0 0 rg BT 195.19 187.00 Td (ferings of us and ) Tj ET Q
q 0 0 0 rg BT 271.36 187.00 Td (T) Tj ET Q
q 0 0 0 rg BT 277.70 187.00 Td (ime, which could negate some of the anticipated benefits and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (enhanced revenue opportunities resulting from the acquisition. ) Tj ET Q
q 0 0 0 rg BT 327.78 173.80 Td (There are no assurances that any cost savings, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (greater economies of scale, and other operational ef) Tj ET Q
q 0 0 0 rg BT 277.03 160.60 Td (ficiencies, as well as revenue enhancement opportunities ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (anticipated from the combination of the two businesses will occur) Tj ET Q
q 0 0 0 rg BT 339.29 147.40 Td (. Operating expenses may increase significantly in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (the near term due to the increased headcount, expanded operations, and expense or changes related to post-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (acquisition integration. ) Tj ET Q
q 0 0 0 rg BT 153.97 121.00 Td (T) Tj ET Q
q 0 0 0 rg BT 159.92 121.00 Td (o the extent that the Company�) Tj ET Q
q 0 0 0 rg BT 295.25 121.00 Td (s expenses increase but its revenues do not, there are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (unanticipated expenses related to the integration process, or there are significant costs associated with presently ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (unknown liabilities, our business, operating results, and financial condition may be materially and adversely ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (af) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 363.65 741.60 Td (e have incurred and will incur substantial ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 236.36 728.40 Td (ime including expenses in connection with coordinating the businesses, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (operations, policies, and procedures. ) Tj ET Q
q 0 0 0 rg BT 213.22 715.20 Td (These expenses include expenses we will incur in connection with achieving ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 394.77 636.00 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 447.79 622.80 Td (The integration team that ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 121.60 609.60 Td (fectively combining the companies�) Tj ET Q
q 0 0 0 rg BT 278.70 609.60 Td ( businesses may streamline operations to achieve cost savings ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 257.52 596.40 Td (The integration process may cause disruptions among employees or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.20 Td (erode employee morale. Employee uncertainty may adversely af) Tj ET Q
q 0 0 0 rg BT 333.23 583.20 Td (fect the Company�) Tj ET Q
q 0 0 0 rg BT 414.49 583.20 Td (s ability to attract new personnel ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 218.63 556.80 Td (s strategies, either of which may disrupt the operations of the Company) Tj ET Q
q 0 0 0 rg BT 531.95 556.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 537.25 556.80 Td (W) Tj ET Q
q 0 0 0 rg BT 546.75 556.80 Td (e ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 164.37 490.80 Td ( cancel business arrangements, or) Tj ET Q
q 0 0 0 rg BT 322.13 490.80 Td ( seek to modify existing r) Tj ET Q
q 0 0 0 rg BT 438.94 490.80 Td (elationships, as a r) Tj ET Q
q 0 0 0 rg BT 525.54 490.80 Td (esult of ) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 114.86 477.60 Td ( the acquisition or) Tj ET Q
q 0 0 0 rg BT 199.31 477.60 Td ( to extract negotiation leverage. ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 419.43 464.40 Td (, prospective customers could ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 92.06 438.00 Td (. Moreover) Tj ET Q
q 0 0 0 rg BT 140.49 438.00 Td (, existing customers may seek to modify their relationships to extract leverage in connection ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 265.96 424.80 Td (A) Tj ET Q
q 0 0 0 rg BT 273.29 424.80 Td ( delay or cancellation of purchases by potential customers or ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 423.97 411.60 Td (fect on our business, results of ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 60.39 372.00 Td (e have r) Tj ET Q
q 0 0 0 rg BT 97.46 372.00 Td (ecorded significant goodwill and other) Tj ET Q
q 0 0 0 rg BT 276.93 372.00 Td ( intangible assets in connection with the acquisition of ) Tj ET Q
q 0 0 0 rg BT 531.28 372.00 Td (T) Tj ET Q
q 0 0 0 rg BT 538.42 372.00 Td (ime ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (that could become impair) Tj ET Q
q 0 0 0 rg BT 169.87 358.80 Td (ed, r) Tj ET Q
q 0 0 0 rg BT 191.06 358.80 Td (esulting in significant non-cash charges against earnings. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.98 358.80 Td (In connection with the ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 195.51 345.60 Td (T) Tj ET Q
q 0 0 0 rg BT 201.84 345.60 Td (ime, we recorded a significant amount of intangible assets and goodwill. Under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.40 Td (accounting principles generally accepted in the United States of ) Tj ET Q
q 0 0 0 rg BT 332.54 332.40 Td (America \(U.S. GAAP\), the Company must assess, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.20 Td (at least annually and potentially more frequently) Tj ET Q
q 0 0 0 rg BT 262.49 319.20 Td (, whether the value of goodwill and other indefinite-lived intangible ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (assets has been impaired. ) Tj ET Q
q 0 0 0 rg BT 163.33 306.00 Td (Amortizing intangible assets will be assessed for impairment in the event of an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.80 Td (impairment indicator) Tj ET Q
q 0 0 0 rg BT 141.95 292.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 146.84 292.80 Td (Any reduction or impairment of the value of goodwill or other intangible assets will result in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (a non-cash char) Tj ET Q
q 0 0 0 rg BT 118.82 279.60 Td (ge against earnings, which could materially adversely af) Tj ET Q
q 0 0 0 rg BT 366.03 279.60 Td (fect our results of operations.) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 69.36 253.20 Td ( business could be adversely impacted by the pr) Tj ET Q
q 0 0 0 rg BT 292.23 253.20 Td (oposed divestitur) Tj ET Q
q 0 0 0 rg BT 372.40 253.20 Td (e of our) Tj ET Q
q 0 0 0 rg BT 408.25 253.20 Td ( non-cor) Tj ET Q
q 0 0 0 rg BT 447.46 253.20 Td (e media assets. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 518.95 253.20 Td (As ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 240.00 Td (previously disclosed, we anticipate agreements to sell the ) Tj ET Q
q 0 0 0 rg BT 304.86 240.00 Td (TIME, Sports Illustrated, Fortune, and Money brands, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.80 Td (along with our 60 percent equity investment in ) Tj ET Q
q 0 0 0 rg BT 258.15 226.80 Td (V) Tj ET Q
q 0 0 0 rg BT 265.43 226.80 Td (iant, to be finalized in early fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 443.00 226.80 Td (These brands and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.60 Td (businesses have dif) Tj ET Q
q 0 0 0 rg BT 134.73 213.60 Td (ferent tar) Tj ET Q
q 0 0 0 rg BT 174.53 213.60 Td (get audiences and advertising bases than the rest of our portfolio, and we believe each ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 246.11 200.40 Td (. Divestitures involve risks, including dif) Tj ET Q
q 0 0 0 rg BT 425.87 200.40 Td (ficulties in the separation of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.20 Td (operations, services, products, and personnel; the diversion of management's attention from other business ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 172.74 701.80 Td ( pr) Tj ET Q
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q 0 0 0 rg BT 209.29 701.80 Td (ed stock has rights that ar) Tj ET Q
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 372.16 675.40 Td (, including Meredith�) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 380.88 635.80 Td ( preferred stock remains outstanding, ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 528.37 622.60 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 452.62 609.40 Td (s failure to comply with ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 333.46 596.20 Td (s ability to pay dividends as expected.) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 176.52 569.80 Td (axes) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 206.19 543.40 Td (ax Reform ) Tj ET Q
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 394.39 517.00 Td (s business and financial condition. ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 165.44 503.80 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 214.31 503.80 Td (Act includes limitations on a corporation�) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (borrower for such taxable year) Tj ET Q
q 0 0 0 rg BT 184.38 464.20 Td (. For purposes of the foregoing provision, the term �adjusted taxable income� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (generally refers to a corporation�) Tj ET Q
q 0 0 0 rg BT 194.15 451.00 Td (s earnings before interest, taxes, and, in the case of taxable years beginning before ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 494.11 437.80 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 542.99 437.80 Td (Act, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (interest paid or accrued by a business was generally deductible in the computation of taxable income subject to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (certain limitations. ) Tj ET Q
q 0 0 0 rg BT 134.62 411.40 Td (Accordingly) Tj ET Q
q 0 0 0 rg BT 188.89 411.40 Td (, to the extent that the ) Tj ET Q
q 0 0 0 rg BT 286.75 411.40 Td (T) Tj ET Q
q 0 0 0 rg BT 292.70 411.40 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 341.58 411.40 Td (Act limits the amount of the Company�) Tj ET Q
q 0 0 0 rg BT 513.89 411.40 Td (s net ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (interest expenses that is permitted to be deducted from the Company�) Tj ET Q
q 0 0 0 rg BT 354.86 398.20 Td (s taxable income in a taxable year) Tj ET Q
q 0 0 0 rg BT 503.47 398.20 Td (, the ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 479.93 385.00 Td (, which could ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 184.50 371.80 Td (s business and financial condition, including, among other things, its liquidity and its ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 157.07 358.60 Td (, the ) Tj ET Q
q 0 0 0 rg BT 178.56 358.60 Td (T) Tj ET Q
q 0 0 0 rg BT 184.51 358.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 233.39 358.60 Td (Act�) Tj ET Q
q 0 0 0 rg BT 252.33 358.60 Td (s reduction of the corporate tax rate may mitigate the ef) Tj ET Q
q 0 0 0 rg BT 496.47 358.60 Td (fect of this ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (new limitation on the deductibility of net interest expenses.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (The ) Tj ET Q
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q 0 0 0 rg BT 352.67 319.00 Td (ime ) Tj ET Q
q 0 0 0 rg BT 372.32 319.00 Td (W) Tj ET Q
q 0 0 0 rg BT 382.72 319.00 Td (arner) Tj ET Q
q 0 0 0 rg BT 407.97 319.00 Td (, which could materially ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (adversely affect our) Tj ET Q
q 0 0 0 rg BT 142.66 305.80 Td ( financial condition. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 238.62 305.80 Td (The complete legal and structural separation of ) Tj ET Q
q 0 0 0 rg BT 448.25 305.80 Td (T) Tj ET Q
q 0 0 0 rg BT 454.58 305.80 Td (ime ) Tj ET Q
q 0 0 0 rg BT 473.63 305.80 Td (W) Tj ET Q
q 0 0 0 rg BT 483.13 305.80 Td (arner Inc.�) Tj ET Q
q 0 0 0 rg BT 528.32 305.80 Td (s \(T) Tj ET Q
q 0 0 0 rg BT 545.35 305.80 Td (ime ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 59.50 292.60 Td (arner\) magazine publishing and related business from ) Tj ET Q
q 0 0 0 rg BT 297.87 292.60 Td (T) Tj ET Q
q 0 0 0 rg BT 304.20 292.60 Td (ime ) Tj ET Q
q 0 0 0 rg BT 323.24 292.60 Td (W) Tj ET Q
q 0 0 0 rg BT 332.75 292.60 Td (arner \(the Spin-Of) Tj ET Q
q 0 0 0 rg BT 413.18 292.60 Td (f\) was completed by way of a pro ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 122.19 279.40 Td (T) Tj ET Q
q 0 0 0 rg BT 128.53 279.40 Td (ime Inc. shares held by ) Tj ET Q
q 0 0 0 rg BT 232.79 279.40 Td (T) Tj ET Q
q 0 0 0 rg BT 239.13 279.40 Td (ime ) Tj ET Q
q 0 0 0 rg BT 258.17 279.40 Td (W) Tj ET Q
q 0 0 0 rg BT 267.67 279.40 Td (arner to its stockholders as of May�23, 2014, based on a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (distribution ratio of one share of ) Tj ET Q
q 0 0 0 rg BT 194.60 266.20 Td (T) Tj ET Q
q 0 0 0 rg BT 200.93 266.20 Td (ime Inc. common stock for every eight shares of ) Tj ET Q
q 0 0 0 rg BT 416.39 266.20 Td (T) Tj ET Q
q 0 0 0 rg BT 422.72 266.20 Td (ime ) Tj ET Q
q 0 0 0 rg BT 441.77 266.20 Td (W) Tj ET Q
q 0 0 0 rg BT 451.27 266.20 Td (arner common stock ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (held \(the Distribution\). If, due to any of ) Tj ET Q
q 0 0 0 rg BT 226.98 253.00 Td (T) Tj ET Q
q 0 0 0 rg BT 233.32 253.00 Td (ime�) Tj ET Q
q 0 0 0 rg BT 252.87 253.00 Td (s representations being untrue or ) Tj ET Q
q 0 0 0 rg BT 398.99 253.00 Td (T) Tj ET Q
q 0 0 0 rg BT 405.32 253.00 Td (ime�) Tj ET Q
q 0 0 0 rg BT 424.87 253.00 Td (s covenants being breached, it ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (was determined that the Distribution did not qualify for non-recognition of gain and loss under Section�355 of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (Internal Revenue Code \(the Code\), or that an excess loss account existed at the date of the Spin-Of) Tj ET Q
q 0 0 0 rg BT 484.16 226.60 Td (f, ) Tj ET Q
q 0 0 0 rg BT 493.13 226.60 Td (T) Tj ET Q
q 0 0 0 rg BT 499.46 226.60 Td (ime could be ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 148.47 213.40 Td (T) Tj ET Q
q 0 0 0 rg BT 154.80 213.40 Td (ime ) Tj ET Q
q 0 0 0 rg BT 173.85 213.40 Td (W) Tj ET Q
q 0 0 0 rg BT 183.35 213.40 Td (arner for the resulting taxes and related expenses. ) Tj ET Q
q 0 0 0 rg BT 402.96 213.40 Td (Any such indemnification ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (obligation could materially adversely af) Tj ET Q
q 0 0 0 rg BT 225.13 200.20 Td (fect our financial condition.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (Risks Relating to Business Operations) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (Advertising r) Tj ET Q
q 0 0 0 rg BT 112.43 147.40 Td (epr) Tj ET Q
q 0 0 0 rg BT 128.12 147.40 Td (esents the largest portion of our) Tj ET Q
q 0 0 0 rg BT 276.70 147.40 Td ( r) Tj ET Q
q 0 0 0 rg BT 284.14 147.40 Td (evenues and advertising demand may fluctuate fr) Tj ET Q
q 0 0 0 rg BT 515.54 147.40 Td (om ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (period to period. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 131.28 134.20 Td (In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 143.19 134.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 191.76 134.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 197.26 134.20 Td (50 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.38 134.20 Td ( of our revenues were derived from advertising. ) Tj ET Q
q 0 0 0 rg BT 455.05 134.20 Td (Advertising constitutes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (48 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 96.12 121.00 Td ( of our national media revenues and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.48 121.00 Td (54 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.59 121.00 Td ( of our local media revenues. Demand for advertising is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (highly dependent upon the strength of the U.S. economy) Tj ET Q
q 0 0 0 rg BT 297.96 107.80 Td (. During an economic downturn, demand for advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (may decrease. ) Tj ET Q
q 0 0 0 rg BT 114.85 94.60 Td (The growth in alternative forms of media, particularly electronic media including those based on the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (internet, has increased the competition for advertising dollars, which could in turn reduce expenditures for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (magazine and television advertising or suppress advertising rates.) Tj ET Q
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BT /F2 10.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 65.68 741.60 Td (culation r) Tj ET Q
q 0 0 0 rg BT 111.01 741.60 Td (evenues r) Tj ET Q
q 0 0 0 rg BT 155.11 741.60 Td (epr) Tj ET Q
q 0 0 0 rg BT 170.79 741.60 Td (esent a significant portion of our) Tj ET Q
q 0 0 0 rg BT 323.06 741.60 Td ( r) Tj ET Q
q 0 0 0 rg BT 330.49 741.60 Td (evenues. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 372.66 741.60 Td (Magazine circulation is another significant ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.40 Td (source of revenue, representing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 190.80 728.40 Td (22 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 236.91 728.40 Td ( of total revenues and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 334.35 728.40 Td (31 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.47 728.40 Td ( of) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
392.38 736.03 112.40 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 392.38 728.40 Td ( national media revenues.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 504.78 728.40 Td ( Preserving ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (the number of copies sold is critical for maintaining advertising sales. Magazines face increasing competition from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (alternative forms of media and entertainment. ) Tj ET Q
q 0 0 0 rg BT 253.12 702.00 Td (As a result, sales of magazines through subscriptions and at the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td (newsstand could decline. ) Tj ET Q
q 0 0 0 rg BT 162.42 688.80 Td (As publishers compete for subscribers, subscription prices could decrease and marketing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (expenditures may increase.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.20 Td (T) Tj ET Q
q 0 0 0 rg BT 56.33 649.20 Td (echnology in the media industry continues to evolve rapidly) Tj ET Q
q 0 0 0 rg BT 334.40 649.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 337.15 649.20 Td ( ) Tj ET Q
q 0 0 0 rg BT 339.29 649.20 Td (Advances in technology have led to an increasing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td (number of alternative methods for the delivery of content and have driven consumer demand and expectations in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (unanticipated directions. If we are unable to exploit new and existing technologies to distinguish our products and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (services from those of our competitors or adapt to new distribution methods that provide optimal user experiences, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (our business, financial condition, and prospects may be adversely af) Tj ET Q
q 0 0 0 rg BT 349.47 596.40 Td (fected. ) Tj ET Q
q 0 0 0 rg BT 381.63 596.40 Td (T) Tj ET Q
q 0 0 0 rg BT 387.58 596.40 Td (echnology developments also pose ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.20 Td (other challenges that could adversely af) Tj ET Q
q 0 0 0 rg BT 224.20 583.20 Td (fect our revenues and competitive position. New delivery platforms may ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (lead to pricing restrictions, the loss of distribution control, and the loss of a direct relationship with consumers. ) Tj ET Q
q 0 0 0 rg BT 540.12 570.00 Td (W) Tj ET Q
q 0 0 0 rg BT 549.62 570.00 Td (e ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 158.53 556.80 Td (fected if the use of technology developed to block the display of advertising on websites ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (proliferates. In addition, technologies such as subscription streaming media services and mobile video are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (increasing competition for household audiences and advertisers. ) Tj ET Q
q 0 0 0 rg BT 334.49 530.40 Td (This competition may make it dif) Tj ET Q
q 0 0 0 rg BT 481.23 530.40 Td (ficult for us to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.20 Td (grow or maintain our broadcasting and print revenues, which we believe may challenge us to expand the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 504.00 Td (contribution of our digital businesses.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.60 Td (Our) Tj ET Q
q 0 0 0 rg BT 69.36 477.60 Td ( websites and internal networks may be vulnerable to unauthorized persons accessing our) Tj ET Q
q 0 0 0 rg BT 489.00 477.60 Td ( systems, which ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (could disrupt our) Tj ET Q
q 0 0 0 rg BT 131.71 464.40 Td ( operations. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 189.46 464.40 Td (The Company uses computers and other technology in substantially all aspects of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.20 Td (our business operations, and our revenues are increasingly dependent on digital products. Such increases expose us ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 438.00 Td (to potential cyber incidents resulting from deliberate attacks or unintentional events. Our website activities involve ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.80 Td (the storage and transmission of proprietary information, which we strive to protect from unauthorized access. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.60 Td (However) Tj ET Q
q 0 0 0 rg BT 89.88 411.60 Td (, it is possible that unauthorized persons may be able to circumvent our protections and misappropriate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.40 Td (proprietary information, corrupt data, or cause interruptions or malfunctions in our digital operations. ) Tj ET Q
q 0 0 0 rg BT 498.23 398.40 Td (The results of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.20 Td (these incidents could include, but are not limited to, business interruption, public disclosure of nonpublic ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 372.00 Td (information, decreased advertising revenues, misstated financial data, liability for stolen assets or information, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (increased cybersecurity protection costs, litigation, financial consequences, and reputational damage adversely ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.60 Td (af) Tj ET Q
q 0 0 0 rg BT 58.35 345.60 Td (fecting customer or investor confidence, any or all of which could adversely af) Tj ET Q
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q 0 0 0 rg BT 493.56 345.60 Td (e invest in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.40 Td (security resources and technology to protect our data and business processes against risk of data security breaches ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.20 Td (and cyber) Tj ET Q
q 0 0 0 rg BT 92.84 319.20 Td (-attack, but the techniques used to attempt attacks are constantly changing. ) Tj ET Q
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q 0 0 0 rg BT 430.99 319.20 Td ( breach or successful attack ) Tj ET Q
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 300.67 279.60 Td (egulations may impair) Tj ET Q
q 0 0 0 rg BT 405.59 279.60 Td ( our) Tj ET Q
q 0 0 0 rg BT 424.64 279.60 Td ( ability to market to ) Tj ET Q
BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 148.98 266.40 Td (s consumer database includes first-party data that is used to market our products to our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.20 Td (customers and is also rented to or used on behalf of marketing and advertising clients. ) Tj ET Q
q 0 0 0 rg BT 430.02 253.20 Td (As public awareness shifts to ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 60.39 187.20 Td (orld events may r) Tj ET Q
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q 0 0 0 rg BT 388.34 187.20 Td ( local media segment. ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.80 Td (natural disasters. Such events can result in significant declines in advertising revenues as the stations will not ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 69.36 108.00 Td ( local media operations ar) Tj ET Q
q 0 0 0 rg BT 190.75 108.00 Td (e subject to FCC r) Tj ET Q
q 0 0 0 rg BT 276.70 108.00 Td (egulation. ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (important for stations to maintain their network af) Tj ET Q
q 0 0 0 rg BT 270.05 649.00 Td (filiations. Most of our stations have network af) Tj ET Q
q 0 0 0 rg BT 476.37 649.00 Td (filiation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (agreements. Seven are af) Tj ET Q
q 0 0 0 rg BT 159.74 635.80 Td (filiated with CBS, five with FOX, two with MyNetworkTV) Tj ET Q
q 0 0 0 rg BT 420.48 635.80 Td (, one with NBC, and one with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (ABC. ) Tj ET Q
q 0 0 0 rg BT 77.92 622.60 Td (These television networks produce and distribute programming in exchange for each of our stations�) Tj ET Q
q 0 0 0 rg BT 519.11 622.60 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (programming. ) Tj ET Q
q 0 0 0 rg BT 115.18 596.20 Td (W) Tj ET Q
q 0 0 0 rg BT 124.68 596.20 Td (e also make cash payments to the networks. ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (retransmission consent fees that Meredith receives from cable, satellite, and telecommunications service providers, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (which pay Meredith to carry our television programming in our markets. ) Tj ET Q
q 0 0 0 rg BT 372.38 569.80 Td (These network relationships may also ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (include terms regarding over) Tj ET Q
q 0 0 0 rg BT 176.54 556.60 Td (-the-top distribution. ) Tj ET Q
q 0 0 0 rg BT 270.13 556.60 Td (The non-renewal or termination of any of our network af) Tj ET Q
q 0 0 0 rg BT 520.09 556.60 Td (filiation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (agreements would prevent us from being able to carry programming of the af) Tj ET Q
q 0 0 0 rg BT 389.46 543.40 Td (filiate network. ) Tj ET Q
q 0 0 0 rg BT 459.21 543.40 Td (This loss of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (programming would require us to obtain replacement programming, which may involve higher costs and/or which ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (may not be as attractive to our audiences, resulting in reduced revenues. Furthermore, the non-renewal of any ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (retransmission consent agreement with a major cable, satellite, or telecommunications service provider could ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (adversely af) Tj ET Q
q 0 0 0 rg BT 103.24 490.60 Td (fect the economics of our relationship with the applicable network\(s\), advertising revenues, and our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (local brands. If renewed, our network af) Tj ET Q
q 0 0 0 rg BT 226.34 477.40 Td (filiation agreements and our retransmission agreements may be renewed on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (terms that are less favorable to us. Our CBS af) Tj ET Q
q 0 0 0 rg BT 254.47 464.20 Td (filiation agreements expire in June and ) Tj ET Q
q 0 0 0 rg BT 427.36 464.20 Td (August 2020. ) Tj ET Q
q 0 0 0 rg BT 489.19 464.20 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 118.23 451.00 Td ( af) Tj ET Q
q 0 0 0 rg BT 129.33 451.00 Td (filiation agreements expire in September 2020. Our FOX af) Tj ET Q
q 0 0 0 rg BT 391.53 451.00 Td (filiation agreements expire in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (December 2018. Our NBC af) Tj ET Q
q 0 0 0 rg BT 179.01 437.80 Td (filiation agreement expires in December 2021 and our ) Tj ET Q
q 0 0 0 rg BT 419.10 437.80 Td (ABC af) Tj ET Q
q 0 0 0 rg BT 452.81 437.80 Td (filiation agreement ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (expires in December 2019.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (Client r) Tj ET Q
q 0 0 0 rg BT 86.15 398.20 Td (elationships ar) Tj ET Q
q 0 0 0 rg BT 154.71 398.20 Td (e important to our) Tj ET Q
q 0 0 0 rg BT 240.97 398.20 Td ( brand licensing and consumer) Tj ET Q
q 0 0 0 rg BT 385.02 398.20 Td ( r) Tj ET Q
q 0 0 0 rg BT 392.46 398.20 Td (elationship marketing businesses. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (Our ability to maintain existing client relationships and generate new clients depends significantly on the quality of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (our products and services, our reputation, and the continuity of Company and client personnel. Dissatisfaction with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (our products and services, damage to our reputation, or changes in key personnel could result in a loss of business.) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 69.96 332.20 Td (eases in paper) Tj ET Q
q 0 0 0 rg BT 135.77 332.20 Td ( and postage prices, which ar) Tj ET Q
q 0 0 0 rg BT 271.85 332.20 Td (e difficult to pr) Tj ET Q
q 0 0 0 rg BT 342.22 332.20 Td (edict and contr) Tj ET Q
q 0 0 0 rg BT 412.90 332.20 Td (ol, could adversely affect our) Tj ET Q
q 0 0 0 rg BT 548.04 332.20 Td ( ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (r) Tj ET Q
q 0 0 0 rg BT 54.68 319.00 Td (esults of operations. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 150.63 319.00 Td (Paper and postage represent significant components of our total cost to produce, distribute, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (and market our printed products. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 208.54 305.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 257.11 305.80 Td (, these expenses accounted for 1) Tj ET Q
q 0 0 0 rg BT 398.42 305.80 Td (1 percent of national media�) Tj ET Q
q 0 0 0 rg BT 521.82 305.80 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 441.22 292.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 446.11 292.60 Td (All of our paper supply ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (contracts currently provide for price adjustments based on prevailing market prices; however) Tj ET Q
q 0 0 0 rg BT 458.55 279.40 Td (, we historically have ) Tj ET Q
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q 0 0 0 rg BT 50.00 266.20 Td (been able to realize favorable paper pricing through volume discounts. ) Tj ET Q
q 0 0 0 rg BT 362.88 266.20 Td (The USPS distributes substantially all of our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (subscription magazines and many of our marketing materials. Postal rates are dependent on the operating ef) Tj ET Q
q 0 0 0 rg BT 523.87 253.00 Td (ficiency ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (of the USPS and on legislative mandates imposed upon the USPS. ) Tj ET Q
q 0 0 0 rg BT 343.93 239.80 Td (Although we work with others in the industry ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (and through trade or) Tj ET Q
q 0 0 0 rg BT 139.30 226.60 Td (ganizations to encourage the USPS to implement ef) Tj ET Q
q 0 0 0 rg BT 366.08 226.60 Td (ficiencies that will minimize rate increases, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (we cannot predict with certainty the magnitude of future price changes for paper and postage. Further) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (Acquisitions pose inher) Tj ET Q
q 0 0 0 rg BT 159.21 173.80 Td (ent financial and other) Tj ET Q
q 0 0 0 rg BT 265.65 173.80 Td ( risks and challenges. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.03 173.80 Td (As a part of our strategic plan, we have ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (acquired businesses and we expect to continue acquiring businesses in the future. ) Tj ET Q
q 0 0 0 rg BT 409.95 160.60 Td (These acquisitions can involve a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (number of risks and challenges, any of which could cause significant operating inef) Tj ET Q
q 0 0 0 rg BT 417.27 147.40 Td (ficiencies and adversely af) Tj ET Q
q 0 0 0 rg BT 534.04 147.40 Td (fect ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 171.79 134.20 Td (. Such risks and challenges include underperformance relative to our expectations and ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 522.64 121.00 Td (ficulty ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 479.58 688.60 Td (esults and the ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.61 662.20 Td ($22.7 million) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 446.56 662.20 Td ($155.8 million) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 266.81 649.00 Td (e test our goodwill and indefinite-lived intangible assets for ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 225.97 583.00 Td (58 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 272.09 583.00 Td ( of Meredith�) Tj ET Q
q 0 0 0 rg BT 330.13 583.00 Td (s total assets, with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.93 583.00 Td ($3.0 billion) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 108.04 569.80 Td ($907.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 172.82 569.80 Td ( in the local media segment. ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (level. ) Tj ET Q
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q 0 0 0 rg BT 502.32 556.60 Td (W) Tj ET Q
q 0 0 0 rg BT 511.82 556.60 Td (e ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.83 530.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 309.13 530.20 Td (The impairment analysis assumed only 50 percent of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (syner) Tj ET Q
q 0 0 0 rg BT 73.63 517.00 Td (gies expected to be realized from the acquisition of ) Tj ET Q
q 0 0 0 rg BT 300.98 517.00 Td (T) Tj ET Q
q 0 0 0 rg BT 307.31 517.00 Td (ime. Had 100 percent of the syner) Tj ET Q
q 0 0 0 rg BT 456.48 517.00 Td (gies been incorporated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (into the future cash flows in the impairment analysis, the fair value would have exceeded carrying value by 43 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (percent. Qualitative impairment analyses were performed for the local media excluding MNI reporting unit and the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (MNI reporting unit and resulted in no indications of impairment and thus, no quantitative assessments were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (necessary) Tj ET Q
q 0 0 0 rg BT 92.04 464.20 Td (. Changes in key assumptions about the economy or business prospects used to estimate fair value or other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (changes in market conditions could result in additional impairment char) Tj ET Q
q 0 0 0 rg BT 365.97 451.00 Td (ges. ) Tj ET Q
q 0 0 0 rg BT 385.52 451.00 Td (Although these char) Tj ET Q
q 0 0 0 rg BT 473.91 451.00 Td (ges would be non-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (cash in nature and would not af) Tj ET Q
q 0 0 0 rg BT 187.87 437.80 Td (fect the Company�) Tj ET Q
q 0 0 0 rg BT 269.12 437.80 Td (s operations or cash flow) Tj ET Q
q 0 0 0 rg BT 378.38 437.80 Td (, they would reduce stockholders�) Tj ET Q
q 0 0 0 rg BT 526.33 437.80 Td ( equity ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (and reported results of operations in the period char) Tj ET Q
q 0 0 0 rg BT 277.06 424.60 Td (ged.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (W) Tj ET Q
q 0 0 0 rg BT 60.39 398.20 Td (e have thr) Tj ET Q
q 0 0 0 rg BT 107.24 398.20 Td (ee classes of stock with differ) Tj ET Q
q 0 0 0 rg BT 242.37 398.20 Td (ent voting rights) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 319.37 398.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 324.67 398.20 Td (W) Tj ET Q
q 0 0 0 rg BT 334.17 398.20 Td (e have three classes of stock: Series�) Tj ET Q
q 0 0 0 rg BT 493.31 398.20 Td (A) Tj ET Q
q 0 0 0 rg BT 500.65 398.20 Td ( preferred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (stock, common stock, and class�B stock. ) Tj ET Q
q 0 0 0 rg BT 230.06 385.00 Td (The Series�) Tj ET Q
q 0 0 0 rg BT 278.93 385.00 Td (A) Tj ET Q
q 0 0 0 rg BT 286.27 385.00 Td ( preferred stock is non-voting. Holders of common stock are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (entitled to one vote per share and account for 44 percent of the voting power) Tj ET Q
q 0 0 0 rg BT 385.99 371.80 Td (. Holders of class�B stock are entitled to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (ten votes per share and account for the remaining 56 percent of the voting power) Tj ET Q
q 0 0 0 rg BT 404.32 358.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 409.62 358.60 Td (There are restrictions on who can ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (own class B stock. ) Tj ET Q
q 0 0 0 rg BT 134.43 345.40 Td (The majority of Class�B shares are held by members of Meredith�) Tj ET Q
q 0 0 0 rg BT 423.11 345.40 Td (s founding family) Tj ET Q
q 0 0 0 rg BT 500.61 345.40 Td (. Control by a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (limited number of holders may make the Company a less attractive takeover tar) Tj ET Q
q 0 0 0 rg BT 399.85 332.20 Td (get, which could adversely af) Tj ET Q
q 0 0 0 rg BT 528.85 332.20 Td (fect the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (market price of our common stock. ) Tj ET Q
q 0 0 0 rg BT 207.12 319.00 Td (This voting control also prevents other shareholders from exercising significant ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (influence over certain of the Company�) Tj ET Q
q 0 0 0 rg BT 222.57 305.80 Td (s business decisions.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (Adverse changes in the equity markets or) Tj ET Q
q 0 0 0 rg BT 244.12 279.40 Td ( inter) Tj ET Q
q 0 0 0 rg BT 269.27 279.40 Td (est rates, changes in actuarial assumptions and legislative or) Tj ET Q
q 0 0 0 rg BT 551.10 279.40 Td ( ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (other) Tj ET Q
q 0 0 0 rg BT 74.85 266.20 Td ( r) Tj ET Q
q 0 0 0 rg BT 82.28 266.20 Td (egulatory actions could substantially incr) Tj ET Q
q 0 0 0 rg BT 275.20 266.20 Td (ease our) Tj ET Q
q 0 0 0 rg BT 313.80 266.20 Td ( United Kingdom \(U.K.\) pension costs and could ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (r) Tj ET Q
q 0 0 0 rg BT 54.68 253.00 Td (esult in a material adverse effect on our) Tj ET Q
q 0 0 0 rg BT 239.91 253.00 Td ( business, financial condition, and r) Tj ET Q
q 0 0 0 rg BT 405.67 253.00 Td (esults of operations.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 498.87 253.00 Td ( ) Tj ET Q
q 0 0 0 rg BT 501.42 253.00 Td (Through one ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (of our U.K. subsidiaries acquired with the acquisition of ) Tj ET Q
q 0 0 0 rg BT 300.00 239.80 Td (T) Tj ET Q
q 0 0 0 rg BT 306.33 239.80 Td (ime, the Company sponsors the IPC Media Pension ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (Scheme \(the IPC Plan\), a defined benefit pension plan that is closed both to new participants and to the future ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (accrual of additional benefits for current participants. ) Tj ET Q
q 0 0 0 rg BT 286.81 213.40 Td (The majority of pensions in payment and deferred pensions in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (excess of any guaranteed minimum pension are increased annually in line with the increase in the retail price index ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (up to a maximum of 5 percent. Concurrently with the acquisition of ) Tj ET Q
q 0 0 0 rg BT 350.09 187.00 Td (T) Tj ET Q
q 0 0 0 rg BT 356.43 187.00 Td (ime, the Company was substituted for ) Tj ET Q
q 0 0 0 rg BT 525.79 187.00 Td (T) Tj ET Q
q 0 0 0 rg BT 532.12 187.00 Td (ime as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (the guarantor of all obligations of the statutory employers under the IPC Plan.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (The most recent triennial valuation of the IPC Plan under U.K. pension regulations was completed as of ) Tj ET Q
q 0 0 0 rg BT 509.14 147.40 Td (April�5, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (2015. Under the assumptions used in such valuation, which are more conservative than the assumptions used to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (determine a pension plan�) Tj ET Q
q 0 0 0 rg BT 163.32 121.00 Td (s funded status in accordance with U.S. GAAP) Tj ET Q
q 0 0 0 rg BT 368.32 121.00 Td (, the IPC Plan was deemed to be ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (underfunded at that time by approximately �156 million. ) Tj ET Q
q 0 0 0 rg BT 302.03 107.80 Td (A) Tj ET Q
q 0 0 0 rg BT 309.37 107.80 Td ( triennial valuation of the IPC Plan is currently in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (process and once completed, will be as of ) Tj ET Q
q 0 0 0 rg BT 235.42 94.60 Td (April�5, 2018.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (Under the current deed of guarantee, the Company would be obligated to fund the IPC Plan�) Tj ET Q
q 0 0 0 rg BT 455.67 68.20 Td (s �buyout deficit� \(i.e., ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 Td (the amount that would be needed to purchase annuities to dischar) Tj ET Q
q 0 0 0 rg BT 336.94 55.00 Td (ge the benefits under the plan\) under certain ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (circumstances. Specifically) Tj ET Q
q 0 0 0 rg BT 169.63 741.40 Td (, the Company would be required to deposit the buyout deficit into escrow if its debt in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (excess of $50 million were not to be paid when due or were to come due prior to its stated maturity as a result of a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (default \(a Major Debt ) Tj ET Q
q 0 0 0 rg BT 147.74 715.00 Td (Acceleration\) or if a Covenant Breach were to occur \(as described below\). ) Tj ET Q
q 0 0 0 rg BT 477.09 715.00 Td (The Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (would be permitted to recoup the escrowed funds under certain circumstances. However) Tj ET Q
q 0 0 0 rg BT 438.08 701.80 Td (, if the Company) Tj ET Q
q 0 0 0 rg BT 511.30 701.80 Td (, as the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (sponsor) Tj ET Q
q 0 0 0 rg BT 83.78 688.60 Td (, was to become insolvent, or if a Major Debt ) Tj ET Q
q 0 0 0 rg BT 285.40 688.60 Td (Acceleration were to occur \(without being promptly cured\), ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (any escrowed funds would be immediately contributed into the IPC Plan and the Company would be obligated to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (immediately contribute into the IPC Plan any shortfall in the buyout deficit amount.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (In connection with the completion of the sale of all issued shares of ) Tj ET Q
q 0 0 0 rg BT 349.47 635.80 Td (TIUK on March�15, 2018, and the substitution ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (of another U.K. subsidiary of the Company as the sole sponsor under the IPC Plan, the deed of guarantee was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (amended to remove requirements to deposit the buyout deficit as a result of certain credit rating triggers. ) Tj ET Q
q 0 0 0 rg BT 511.85 609.40 Td (At the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (same time, the Company agreed that the same subsidiaries of the Company that guarantee the Company�) Tj ET Q
q 0 0 0 rg BT 510.04 596.20 Td (s 2026 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (Senior Notes would guarantee the obligations of the Company under the IPC Plan on a pari passu basis with the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (obligations under the 2026 Senior Notes. In addition, the Company agreed to incorporate the terms of certain ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (covenants under the indenture governing the 2026 Senior Notes into the amended deed of guarantee ef) Tj ET Q
q 0 0 0 rg BT 500.96 556.60 Td (fective as of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (March�15, 2018. If a breach of such covenants by the Company or the subsidiary guarantors occurs \(after certain ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (notice and cure periods\) \(a Covenant Breach\), the Company would be required to deposit the buyout deficit \(less ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (the amount of certain types of security in favor of the IPC Plan, currently provided in the form of a surety bond\) ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (into escrow as described above.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (If the Company had been required to fund the buyout deficit on June�30, 2018, the amount would have been ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (approximately �138 million. ) Tj ET Q
q 0 0 0 rg BT 178.12 464.20 Td (The amount of the buyout deficit changes daily and is determined by many factors, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (including changes in the fair value of the IPC Plan assets and liabilities and interest rates.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (It is possible that, following future valuations of the IPC Plan�) Tj ET Q
q 0 0 0 rg BT 323.44 424.60 Td (s assets and liabilities or following future discussions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (with the IPC Plan trustee, the annual funding obligation and/or the arrangements to ensure adequate funding for the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (IPC Plan will change. ) Tj ET Q
q 0 0 0 rg BT 148.48 398.20 Td (The future valuations under the IPC Plan can be af) Tj ET Q
q 0 0 0 rg BT 370.97 398.20 Td (fected by a number of assumptions and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (factors, including legislative changes, assumptions regarding interest rates, currency rates, inflation, mortality) Tj ET Q
q 0 0 0 rg BT 531.92 385.00 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (retirement rates, the investment strategy and performance of the IPC Plan assets, and \(in certain limited ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (circumstances\) actions by the U.K. Pensions Regulator) Tj ET Q
q 0 0 0 rg BT 291.34 358.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 296.64 358.60 Td (V) Tj ET Q
q 0 0 0 rg BT 303.17 358.60 Td (olatile economic conditions, including the U.K.�) Tj ET Q
q 0 0 0 rg BT 515.18 358.60 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (impending exit from the European Union, commonly referred to as Brexit, could increase the risk that the funding ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (requirements increase following the next triennial valuation. ) Tj ET Q
q 0 0 0 rg BT 317.99 332.20 Td (The U.K. Pensions Regulator also has powers under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (the Pensions ) Tj ET Q
q 0 0 0 rg BT 107.45 319.00 Td (Act 2004 to impose a contribution notice or a financial support direction on the Company \(and other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (persons connected with the Company or the U.K. subsidiary which sponsors the IPC Plan\) if, in the case of a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (contribution notice, the U.K. Pensions Regulator reasonably believes such person has been party to an act, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (deliberate failure to act, intended to avoid pension liabilities or that is materially detrimental to the pension plan, or) Tj ET Q
q 0 0 0 rg BT 556.02 279.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (in the case of a financial support direction, if a plan employer is a service company or insuf) Tj ET Q
q 0 0 0 rg BT 451.77 266.20 Td (ficiently resourced and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (the Pensions Regulator considers it is reasonable to act against such a person. ) Tj ET Q
q 0 0 0 rg BT 392.76 253.00 Td (A) Tj ET Q
q 0 0 0 rg BT 400.09 253.00 Td ( significant increase in the funding ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (requirements for the IPC Plan or in the calculated �self-suf) Tj ET Q
q 0 0 0 rg BT 308.52 239.80 Td (ficiency deficit� or the calculated �risk-free self-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (suf) Tj ET Q
q 0 0 0 rg BT 63.25 226.60 Td (ficiency deficit� could result in a material adverse ef) Tj ET Q
q 0 0 0 rg BT 293.93 226.60 Td (fect on its business, financial condition, and results of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (operations.) Tj ET Q
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BT /F3 10.00 Tf ET
q 0 0 0 rg BT 137.95 172.41 Td (The pr) Tj ET Q
q 0 0 0 rg BT 163.97 172.41 Td (eceding risk factors should not be construed as a complete list of factors that) Tj ET Q
BT /F3 10.00 Tf ET
q 0 0 0 rg BT 197.00 162.41 Td (may affect our futur) Tj ET Q
q 0 0 0 rg BT 276.34 162.41 Td (e operations and financial r) Tj ET Q
q 0 0 0 rg BT 387.63 162.41 Td (esults.) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.60 Td (ITEM�1B. UNRESOL) Tj ET Q
q 0 0 0 rg BT 158.09 741.60 Td (VED ST) Tj ET Q
q 0 0 0 rg BT 196.71 741.60 Td (AFF) Tj ET Q
q 0 0 0 rg BT 217.68 741.60 Td ( COMMENTS) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (None.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.20 Td (ITEM�2. PROPER) Tj ET Q
q 0 0 0 rg BT 143.42 649.20 Td (TIES) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (Meredith is headquartered in Des Moines, IA. ) Tj ET Q
q 0 0 0 rg BT 254.77 609.60 Td (The Company owns buildings at 1716 and 1615 Locust Street and is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (the sole occupant of these buildings. ) Tj ET Q
q 0 0 0 rg BT 212.63 596.40 Td (The Company believes these facilities are adequate for their intended use.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (The national media segment operates mainly from the Des Moines of) Tj ET Q
q 0 0 0 rg BT 354.66 570.00 Td (fices and from multiple leased facilities in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.80 Td (New ) Tj ET Q
q 0 0 0 rg BT 73.11 556.80 Td (Y) Tj ET Q
q 0 0 0 rg BT 79.95 556.80 Td (ork, NY) Tj ET Q
q 0 0 0 rg BT 114.59 556.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 119.89 556.80 Td (The New ) Tj ET Q
q 0 0 0 rg BT 162.85 556.80 Td (Y) Tj ET Q
q 0 0 0 rg BT 169.69 556.80 Td (ork facilities are used primarily as advertising sales of) Tj ET Q
q 0 0 0 rg BT 407.14 556.80 Td (fices for all Meredith magazines ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (and as headquarters for brands including Family Circle, Shape, Parents, Rachael Ray Every Day) Tj ET Q
q 0 0 0 rg BT 473.27 543.60 Td (, and all brands ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (acquired in the ) Tj ET Q
q 0 0 0 rg BT 117.91 530.40 Td (T) Tj ET Q
q 0 0 0 rg BT 124.24 530.40 Td (ime acquisition. ) Tj ET Q
q 0 0 0 rg BT 197.06 530.40 Td (W) Tj ET Q
q 0 0 0 rg BT 206.56 530.40 Td (e are in the process of transferring employees and operations from our leased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.20 Td (facility at 805 ) Tj ET Q
q 0 0 0 rg BT 113.64 517.20 Td (Third ) Tj ET Q
q 0 0 0 rg BT 140.22 517.20 Td (A) Tj ET Q
q 0 0 0 rg BT 147.35 517.20 Td (venue, New ) Tj ET Q
q 0 0 0 rg BT 202.23 517.20 Td (Y) Tj ET Q
q 0 0 0 rg BT 209.07 517.20 Td (ork, NY) Tj ET Q
q 0 0 0 rg BT 244.71 517.20 Td ( to the leased facility at 225 Liberty Street, New ) Tj ET Q
q 0 0 0 rg BT 458.43 517.20 Td (Y) Tj ET Q
q 0 0 0 rg BT 465.27 517.20 Td (ork, NY) Tj ET Q
q 0 0 0 rg BT 499.90 517.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 505.21 517.20 Td (W) Tj ET Q
q 0 0 0 rg BT 514.71 517.20 Td (e plan to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 504.00 Td (vacate the majority of the leased space at 805 ) Tj ET Q
q 0 0 0 rg BT 252.30 504.00 Td (Third ) Tj ET Q
q 0 0 0 rg BT 278.88 504.00 Td (A) Tj ET Q
q 0 0 0 rg BT 286.01 504.00 Td (venue by September 2018 and have entered into agreements ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td (with unaf) Tj ET Q
q 0 0 0 rg BT 91.65 490.80 Td (filiated third-party tenants to sublease approximately 70 percent of the leased space at this location.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (The national media segment has also entered into leases for magazine editorial of) Tj ET Q
q 0 0 0 rg BT 407.78 464.40 Td (fices, national media sales of) Tj ET Q
q 0 0 0 rg BT 534.95 464.40 Td (fices, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.20 Td (technology centers, warehouses, and other operational functions in the states of ) Tj ET Q
q 0 0 0 rg BT 400.98 451.20 Td (Alabama, ) Tj ET Q
q 0 0 0 rg BT 445.58 451.20 Td (Arizona, ) Tj ET Q
q 0 0 0 rg BT 485.90 451.20 Td (Arkansas, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 438.00 Td (California, Colorado, Connecticut, Florida, Geor) Tj ET Q
q 0 0 0 rg BT 264.25 438.00 Td (gia, Illinois, Massachusetts, Michigan, Minnesota, New Jersey) Tj ET Q
q 0 0 0 rg BT 538.80 438.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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294.5 626.5 m
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294.5 611.5 m
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312.5 626.5 m
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312.5 611.5 m
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242.5 611.5 m
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252.5 611.5 m
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252.5 586.5 m
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312.5 611.5 m
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312.5 586.5 m
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329.5 611.5 m
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329.5 586.5 m
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412.5 611.5 m
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383.5 586.5 m
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412.5 586.5 m
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438.5 611.5 m
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438.5 586.5 m
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522.5 611.5 m
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490.5 611.5 m
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490.5 586.5 m
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50.5 586.5 m
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50.5 586.5 m
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150.5 586.5 m
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150.5 561.5 m
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168.5 586.5 m
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242.5 586.5 m
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226.5 561.5 m
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242.5 561.5 m
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252.5 561.5 m
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294.5 561.5 m
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312.5 586.5 m
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312.5 561.5 m
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329.5 561.5 m
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412.5 586.5 m
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383.5 561.5 m
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412.5 561.5 m
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522.5 586.5 m
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490.5 561.5 m
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50.5 561.5 m
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3 M
50.5 561.5 m
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3 M
50.5 536.5 m
150.5 536.5 l
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3 M
150.5 561.5 m
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3 M
150.5 536.5 m
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168.5 561.5 m
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3 M
242.5 561.5 m
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3 M
242.5 536.5 m
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3 M
252.5 536.5 m
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3 M
294.5 536.5 m
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1.00 w
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[] 0 d
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3 M
312.5 561.5 m
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1.00 w
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[] 0 d
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3 M
312.5 536.5 m
329.5 536.5 l
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1.00 w
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[] 0 d
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3 M
412.5 561.5 m
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1.00 w
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[] 0 d
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3 M
438.5 561.5 m
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[] 0 d
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3 M
438.5 536.5 m
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1.00 w
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[] 0 d
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3 M
522.5 561.5 m
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[] 0 d
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50.5 536.5 m
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1.00 w
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[] 0 d
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50.5 518.5 m
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[] 0 d
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3 M
150.5 536.5 m
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1.00 w
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[] 0 d
0 J
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3 M
150.5 536.5 m
168.5 536.5 l
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1.00 w
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[] 0 d
0 J
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3 M
150.5 518.5 m
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1.00 w
0 i
[] 0 d
0 J
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3 M
168.5 536.5 m
226.5 536.5 l
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1.00 w
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[] 0 d
0 J
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3 M
168.5 518.5 m
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1.00 w
0 i
[] 0 d
0 J
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3 M
242.5 536.5 m
242.5 518.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
226.5 536.5 m
242.5 536.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
226.5 518.5 m
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1.00 w
0 i
[] 0 d
0 J
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3 M
242.5 536.5 m
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[] 0 d
0 J
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3 M
242.5 518.5 m
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1.00 w
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[] 0 d
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3 M
252.5 518.5 m
294.5 518.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
294.5 536.5 m
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294.5 518.5 m
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[] 0 d
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3 M
312.5 536.5 m
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[] 0 d
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3 M
312.5 536.5 m
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1.00 w
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[] 0 d
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3 M
312.5 518.5 m
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1.00 w
0 i
[] 0 d
0 J
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3 M
329.5 536.5 m
383.5 536.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
329.5 518.5 m
383.5 518.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
412.5 536.5 m
412.5 518.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
383.5 536.5 m
412.5 536.5 l
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/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
383.5 518.5 m
412.5 518.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
412.5 536.5 m
438.5 536.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
412.5 518.5 m
438.5 518.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
438.5 518.5 m
490.5 518.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
522.5 536.5 m
522.5 518.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
490.5 536.5 m
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490.5 518.5 m
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 53.00 631.18 Td (Period) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 190.15 661.18 Td (\(a\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 166.95 651.18 Td (T) Tj ET Q
q 0 0 0 rg BT 172.70 651.18 Td (otal number) Tj ET Q
q 0 0 0 rg BT 225.02 651.18 Td ( ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 177.05 641.18 Td (of shar) Tj ET Q
q 0 0 0 rg BT 206.59 641.18 Td (es) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 167.70 631.18 Td (pur) Tj ET Q
q 0 0 0 rg BT 183.08 631.18 Td (chased ) Tj ET Q
BT /F5 10.00 Tf ET
BT /F5 6.50 Tf ET
q 0 0 0 rg BT 214.47 635.71 Td (1, 2) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 270.85 661.18 Td (\(b\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 247.50 651.18 Td (A) Tj ET Q
q 0 0 0 rg BT 253.98 651.18 Td (verage price) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 267.50 641.18 Td (paid) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 257.00 631.18 Td (per) Tj ET Q
q 0 0 0 rg BT 271.26 631.18 Td ( shar) Tj ET Q
q 0 0 0 rg BT 292.47 631.18 Td (e) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 356.45 681.18 Td (\(c\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 327.50 671.18 Td (T) Tj ET Q
q 0 0 0 rg BT 333.25 671.18 Td (otal number) Tj ET Q
q 0 0 0 rg BT 385.57 671.18 Td ( of ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 348.45 661.18 Td (shar) Tj ET Q
q 0 0 0 rg BT 367.16 661.18 Td (es ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 318.30 651.18 Td (pur) Tj ET Q
q 0 0 0 rg BT 333.68 651.18 Td (chased as part of ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 320.15 641.18 Td (publicly announced ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 341.25 631.18 Td (pr) Tj ET Q
q 0 0 0 rg BT 351.07 631.18 Td (ograms) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 460.85 681.18 Td (\(d\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 424.80 671.18 Td (Appr) Tj ET Q
q 0 0 0 rg BT 447.40 671.18 Td (oximate dollar) Tj ET Q
q 0 0 0 rg BT 509.16 671.18 Td ( ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 435.40 661.18 Td (value of shar) Tj ET Q
q 0 0 0 rg BT 490.22 661.18 Td (es) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 432.80 651.18 Td ( that may yet be ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 423.00 641.18 Td (pur) Tj ET Q
q 0 0 0 rg BT 438.38 641.18 Td (chased under) Tj ET Q
q 0 0 0 rg BT 495.15 641.18 Td ( the ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 446.25 631.18 Td (pr) Tj ET Q
q 0 0 0 rg BT 456.07 631.18 Td (ograms) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 444.85 615.95 Td (\(in millions\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 601.17 Td (April 1 to) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 591.17 Td (April 30, 2018) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 195.15 591.17 Td (31,228) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.00 591.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.50 591.42 Td (54.1) Tj ET Q
q 0 0 0 rg BT 284.75 591.42 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.00 591.42 Td (31,228) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.00 591.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.00 591.42 Td (56.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 576.17 Td (May 1 to) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 566.17 Td (May 31, 2018) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 200.15 566.17 Td (9,218) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.50 566.42 Td (50.99) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 354.50 566.42 Td (4,262) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.00 566.42 Td (56.6) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
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q 0 0 0 rg BT 418.44 460.75 Td (d.) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 457.53 480.00 Td ( contains forward-) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 295.06 453.60 Td (fected by many risks, uncertainties, and changes in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 440.40 Td (circumstances including the uncertainties and risk factors described throughout this filing, particularly in ) Tj ET Q
BT /F3 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 340.55 374.40 Td (VIEW) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 321.76 348.00 Td (15 years. Meredith uses multiple media platforms� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 334.80 Td (including print, digital, mobile, video, and broadcast television�to provide consumers with content they desire and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 321.60 Td (to deliver the messages of its advertising and marketing partners.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 295.20 Td (Meredith operates two business segments. ) Tj ET Q
q 0 0 0 rg BT 237.99 295.20 Td (The national media segment reaches more than 175 million unduplicated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 282.00 Td (American consumers every month, including more than 80 percent of U.S. millennial women. Meredith is the No.�1 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 268.80 Td (U.S. magazine operator) Tj ET Q
q 0 0 0 rg BT 153.41 268.80 Td (, possessing leading positions in entertainment, food, lifestyle, parenting, and home content ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 255.60 Td (creation, as well as enhanced positions in the beauty) Tj ET Q
q 0 0 0 rg BT 279.30 255.60 Td (, fashion, and luxury advertising categories through well-known ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 242.40 Td (brands such as People, Better Homes & Gardens, InStyle, ) Tj ET Q
q 0 0 0 rg BT 306.01 242.40 Td (Allrecipes, Real Simple, Shape, Southern Living, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 229.20 Td (Martha Stewart Living. ) Tj ET Q
q 0 0 0 rg BT 155.50 229.20 Td (The national media segment features robust brand licensing activities, including more than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 216.00 Td (3,000 SKUs of branded products at ) Tj ET Q
q 0 0 0 rg BT 207.75 216.00 Td (W) Tj ET Q
q 0 0 0 rg BT 217.25 216.00 Td (almart stores across the U.S. and at ) Tj ET Q
q 0 0 0 rg BT 374.37 216.00 Td (W) Tj ET Q
q 0 0 0 rg BT 383.87 216.00 Td (almart.com. ) Tj ET Q
q 0 0 0 rg BT 438.96 216.00 Td (The national media ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 202.80 Td (segment also includes leading af) Tj ET Q
q 0 0 0 rg BT 192.76 202.80 Td (finity marketer Synapse, and ) Tj ET Q
q 0 0 0 rg BT 321.77 202.80 Td (The Foundry) Tj ET Q
q 0 0 0 rg BT 378.19 202.80 Td (, the Company�) Tj ET Q
q 0 0 0 rg BT 445.71 202.80 Td (s state-of-the-art creative ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 189.60 Td (content studio.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 163.20 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 163.20 Td (s local media segment includes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 232.98 163.20 Td (17) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.98 163.20 Td ( television stations reaching 1) Tj ET Q
q 0 0 0 rg BT 374.32 163.20 Td (1 percent of U.S. households. Meredith�) Tj ET Q
q 0 0 0 rg BT 550.29 163.20 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 182.98 150.00 Td (ge, fast-growing markets, with seven stations in the nation�) Tj ET Q
q 0 0 0 rg BT 442.65 150.00 Td (s ) Tj ET Q
q 0 0 0 rg BT 449.48 150.00 Td (T) Tj ET Q
q 0 0 0 rg BT 455.43 150.00 Td (op�25 markets�) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 93.69 136.80 Td (Atlanta, Phoenix, St. Louis, and Portland�and 13 in ) Tj ET Q
q 0 0 0 rg BT 328.75 136.80 Td (T) Tj ET Q
q 0 0 0 rg BT 334.71 136.80 Td (op�50 markets. Meredith�) Tj ET Q
q 0 0 0 rg BT 445.90 136.80 Td (s stations produce over ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 123.60 Td (700 hours of local news and entertainment content each week, and operate leading local digital properties.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 97.20 Td (Both segments operate primarily in the U.S. and compete against similar media and other types of media on both a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 84.00 Td (local and national basis. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.36 84.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 218.93 84.00 Td (, the national media segment accounted for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.74 84.00 Td (69 percent) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 533.54 84.00 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 540.57 84.00 Td ($2.2 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 70.80 Td (billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 78.72 70.80 Td ( in revenues while local media segment revenues contributed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.66 70.80 Td (31 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.77 70.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 401.08 70.80 Td (These results reflect the acquired ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 57.60 Td (T) Tj ET Q
q 0 0 0 rg BT 56.33 57.60 Td (ime business since the date of the acquisition.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.27 741.40 Td ( to generate ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 317.97 728.20 Td (These included:) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 488.32 676.60 Td (ficiency) Tj ET Q
q 0 0 0 rg BT 523.03 676.60 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 216.71 663.40 Td (s brands now reach over 175 million unduplicated ) Tj ET Q
q 0 0 0 rg BT 439.10 663.40 Td (American consumers, ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 534.58 650.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 637.00 Td (possessing leading positions in entertainment, food, lifestyle, parenting, and home content creation, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 623.80 Td (as well as enhancing positions in the beauty) Tj ET Q
q 0 0 0 rg BT 314.05 623.80 Td (, fashion, and luxury advertising categories.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 211.50 597.40 Td (s digital position by adding significant scale. ) Tj ET Q
q 0 0 0 rg BT 410.49 597.40 Td (W) Tj ET Q
q 0 0 0 rg BT 420.43 597.40 Td (ith nearly 135 million unique ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 584.20 Td (visitors in the U.S., Meredith now operates the lar) Tj ET Q
q 0 0 0 rg BT 341.45 584.20 Td (gest premium content digital network for U.S. ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 557.80 Td (food \(Allrecipes.com\), and lifestyle \(BHG.com and MarthaStewart.com\). Meredith now possesses ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 485.25 544.60 Td (ge video, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 531.40 Td (branded content, and programmatic advertising platforms. National media digital advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 518.20 Td (revenues grew more than 50 percent in fiscal 2018, and represented nearly 35 percent of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 505.00 Td (national media�) Tj ET Q
q 0 0 0 rg BT 190.12 505.00 Td (s total advertising.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 478.60 Td (Provides consumer revenue diversification and growth. Meredith�) Tj ET Q
q 0 0 0 rg BT 411.28 478.60 Td (s national media brands now have ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 465.40 Td (a readership of more than 120 million and paid circulation of more than 40 million magazine ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 452.20 Td (subscriptions. Meredith expects to increase consumer generated revenue through ownership of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 439.00 Td (af) Tj ET Q
q 0 0 0 rg BT 130.35 439.00 Td (finity marketer Synapse, which it acquired as part of the acquisition of ) Tj ET Q
q 0 0 0 rg BT 442.64 439.00 Td (T) Tj ET Q
q 0 0 0 rg BT 448.97 439.00 Td (ime, as well as from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 425.80 Td (diversified activities, including bundled circulation, brand licensing, and e-commerce activities.) Tj ET Q
BT /F2 11.00 Tf ET
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/I23 Do Q
q 0 0 0 rg BT 109.00 399.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 399.40 Td (Enhances financial scale and flexibility) Tj ET Q
q 0 0 0 rg BT 294.16 399.40 Td (. Meredith anticipates generating annual cost syner) Tj ET Q
q 0 0 0 rg BT 517.85 399.40 Td (gies that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 386.20 Td (exceed $500 million in the first two full years of combined operations. Meredith has an excellent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 373.00 Td (track record of achieving cost syner) Tj ET Q
q 0 0 0 rg BT 279.09 373.00 Td (gies with prior acquisitions, and is confident in its ability to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 359.80 Td (optimize the cost structure of the combined business.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 86.00 333.40 Td (Continued str) Tj ET Q
q 0 0 0 rg BT 150.89 333.40 Td (ong and gr) Tj ET Q
q 0 0 0 rg BT 201.43 333.40 Td (owing contribution fr) Tj ET Q
q 0 0 0 rg BT 302.07 333.40 Td (om Mer) Tj ET Q
q 0 0 0 rg BT 339.43 333.40 Td (edith�) Tj ET Q
q 0 0 0 rg BT 366.52 333.40 Td (s local media operations) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 307.00 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 165.38 307.00 Td (s portfolio of 17 high-performing television stations in 12 markets delivered strong ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 293.80 Td (revenue in fiscal 2018.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 267.40 Td (Performance was driven by growth in retransmission revenues, along with the addition of ) Tj ET Q
q 0 0 0 rg BT 518.32 267.40 Td (WPCH in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 254.20 Td (Atlanta and MNI, which was part of the ) Tj ET Q
q 0 0 0 rg BT 299.89 254.20 Td (T) Tj ET Q
q 0 0 0 rg BT 306.22 254.20 Td (ime acquisition. MNI of) Tj ET Q
q 0 0 0 rg BT 412.34 254.20 Td (fers clients tar) Tj ET Q
q 0 0 0 rg BT 474.45 254.20 Td (geted advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 241.00 Td (solutions aimed primarily at the local and regional levels.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 86.00 214.60 Td (Successful execution of asset sales to simplify and focus Mer) Tj ET Q
q 0 0 0 rg BT 366.59 214.60 Td (edith�) Tj ET Q
q 0 0 0 rg BT 393.68 214.60 Td (s national media portfolio) Tj ET Q
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/I26 Do Q
q 0 0 0 rg BT 109.00 188.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 188.20 Td (Meredith closed on the sale of the Golf brand, ) Tj ET Q
q 0 0 0 rg BT 327.07 188.20 Td (TIUK and MXM during fiscal 2018. ) Tj ET Q
q 0 0 0 rg BT 489.91 188.20 Td (Additionally) Tj ET Q
q 0 0 0 rg BT 544.81 188.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 175.00 Td (Meredith anticipates agreements to sell the Fortune, Money) Tj ET Q
q 0 0 0 rg BT 383.38 175.00 Td (, Sports Illustrated, and ) Tj ET Q
q 0 0 0 rg BT 488.28 175.00 Td (TIME brands to ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 109.00 135.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 135.40 Td (Discontinued operations in Meredith�) Tj ET Q
q 0 0 0 rg BT 286.66 135.40 Td (s fiscal 2018 include ) Tj ET Q
q 0 0 0 rg BT 379.94 135.40 Td (TIME, Sports Illustrated, Fortune, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 122.20 Td (Money) Tj ET Q
q 0 0 0 rg BT 152.45 122.20 Td (, and ) Tj ET Q
q 0 0 0 rg BT 176.38 122.20 Td (V) Tj ET Q
q 0 0 0 rg BT 183.67 122.20 Td (iant, along with the Golf brand and ) Tj ET Q
q 0 0 0 rg BT 340.49 122.20 Td (TIUK.) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (successful ) Tj ET Q
q 0 0 0 rg BT 97.76 728.20 Td (T) Tj ET Q
q 0 0 0 rg BT 103.71 728.20 Td (otal Shareholder Return strategy) Tj ET Q
q 0 0 0 rg BT 245.65 728.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 250.95 728.20 Td (This includes:) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 701.80 Td (Strong generation of cash flow) Tj ET Q
q 0 0 0 rg BT 220.92 701.80 Td (. Cash flow from operations for the year ended June 30, 2018, was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 516.01 701.80 Td ($151.4 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 688.60 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 117.78 688.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 662.20 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 662.20 Td (Return of capital to shareholders through consistent and ongoing dividend increases. Meredith raised its ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 649.00 Td (regular stock dividend by 4.8 percent to $2.18 on an annualized basis in January 2018. ) Tj ET Q
q 0 0 0 rg BT 468.87 649.00 Td (This marked the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 635.80 Td (25th straight year of dividend increases for Meredith, which has paid an annual dividend for 71 consecutive ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 622.60 Td (years.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 596.20 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 596.20 Td (Share repurchases. Meredith�) Tj ET Q
q 0 0 0 rg BT 214.59 596.20 Td (s ongoing share repurchase program has ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 394.20 596.20 Td ($56.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 453.48 596.20 Td ( remaining under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 583.00 Td (current authorizations as of June�30, 2018.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (NA) Tj ET Q
q 0 0 0 rg BT 65.07 543.40 Td (TIONAL) Tj ET Q
q 0 0 0 rg BT 107.86 543.40 Td ( MEDIA) Tj ET Q
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1 1 1 rg
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q 0 0 0 rg BT 155.09 517.00 Td (ade up ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.85 517.00 Td (48 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 232.97 517.00 Td ( of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 247.63 517.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
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1 1 1 rg
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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50.00 485.03 67.49 -10.00 re f
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 117.49 477.40 Td (nomic activity in the U.S. Indicators of economic activity include changes in the level of gross ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (domestic product, consumer spending, housing starts, unemployment rates, auto sales, and interest rates. Circulation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (levels of Meredith�) Tj ET Q
q 0 0 0 rg BT 133.70 451.00 Td (s magazines, reader demographic data, and the advertising rates char) Tj ET Q
q 0 0 0 rg BT 435.56 451.00 Td (ged relative to other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (comparable available advertising opportunities also af) Tj ET Q
q 0 0 0 rg BT 287.75 437.80 Td (fect the level of advertising revenues.) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 178.28 411.40 Td (ed for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.99 411.40 Td (31 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 253.11 411.40 Td ( o) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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q 0 0 0 rg BT 261.36 411.40 Td (f ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 267.77 411.40 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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q 0 0 0 rg BT 316.34 411.40 Td ( national media revenues. Circulation revenues result ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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50.00 405.83 491.25 -10.00 re f
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q 0 0 0 rg BT 50.00 398.20 Td (from the sale of magazines to consumers through subscriptions and by single copy sales on newsstands in print ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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50.00 392.63 496.68 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 385.00 Td (form, primarily at major retailers and grocery/drug stores, and in digital form on tablets and other media devices.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.68 385.00 Td ( In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (the short term, subscription revenues, which accounted for 80 percent of circulation revenues, are less susceptib) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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50.00 366.23 491.56 -10.00 re f
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q 0 0 0 rg BT 50.00 358.60 Td (economic changes because subscriptions are generally sold for terms of one to three years. ) Tj ET Q
q 0 0 0 rg BT 450.85 358.60 Td (The same economic ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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/GS0 gs
q 0 0 0 rg BT 50.00 345.40 Td (factors that af) Tj ET Q
q 0 0 0 rg BT 110.27 345.40 Td (fect advertising revenues also can influence consumers�) Tj ET Q
q 0 0 0 rg BT 355.02 345.40 Td ( response to subscription of) Tj ET Q
q 0 0 0 rg BT 475.80 345.40 Td (fers and result in ) Tj ET Q
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50.00 339.83 492.11 -10.00 re f
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BT /F2 11.00 Tf ET
1 1 1 rg
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q 0 0 0 rg BT 50.00 292.60 Td (industry-leading database.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 165.46 292.60 Td ( It contains an abundance of attributes on 175 million individuals, which represents 80 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (percent of U.S. millennial women. ) Tj ET Q
q 0 0 0 rg BT 204.38 279.40 Td (The size and depth of our database is a key to our circulation model and allows ) Tj ET Q
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q 0 0 0 rg BT 50.00 266.20 Td (more precise consumer tar) Tj ET Q
q 0 0 0 rg BT 166.17 266.20 Td (geting. N) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.46 200.20 Td (e-commerce) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (percent of national media�) Tj ET Q
q 0 0 0 rg BT 165.15 121.00 Td (s operating expenses in ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 74.60 81.40 Td (, postage, and production char) Tj ET Q
q 0 0 0 rg BT 206.98 81.40 Td (ges represe) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.14 81.40 Td (nted 21 percent) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (percent. ) Tj ET Q
q 0 0 0 rg BT 87.67 701.80 Td (While we expect postage prices to increase again in January 2019, an ongoing legislatively mandated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (review of the existing law by the Postal Regulatory Commission could potentially result in adjustments to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (current rate setting regime. Meredith continues to work independently and with others to encourage and help the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (USPS find and implement ef) Tj ET Q
q 0 0 0 rg BT 176.29 662.20 Td (ficiencies to contain rate increases.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (The remaining 39 percent of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 177.98 635.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.55 635.80 Td ( national media expenses included costs for magazine newsstand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (distribution, advertising and promotional ef) Tj ET Q
q 0 0 0 rg BT 241.35 622.60 Td (forts, and overhead costs for facilities and technology services.) Tj ET Q
BT /F1 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 603.65 78.84 -9.82 re f
/GS0 gs
q 0 0 0 rg BT 50.00 596.20 Td (LOCAL) Tj ET Q
q 0 0 0 rg BT 88.51 596.20 Td ( MEDIA) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 577.43 223.29 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 569.80 Td (Local media derives the majority of its revenues�) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
273.29 577.43 46.12 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 273.29 569.80 Td (54 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 319.40 569.80 Td ( i) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
325.21 577.43 8.25 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 325.21 569.80 Td (n ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 333.46 569.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
382.03 577.43 179.31 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 382.03 569.80 Td (�from the sale of advertising both over ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 564.23 30.54 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 556.60 Td (the air ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 80.54 556.60 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
99.17 564.23 70.37 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 99.17 556.60 Td (on our stations�) Tj ET Q
q 0 0 0 rg BT 166.79 556.60 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 169.54 556.60 Td (digital and mobile media properties) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
325.95 564.23 172.99 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 325.95 556.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 331.25 556.60 Td (The remainder comes from television ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 551.03 310.06 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 543.40 Td (retransmission consent fees, television production, and other services. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (The stations sell advertising to both local/regional and national accounts. Political advertising revenues are cyclical ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (in that they are significantly greater during biennial election campaigns \(which take place primarily in odd-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (numbered fiscal years\) than at other times. ) Tj ET Q
q 0 0 0 rg BT 239.79 490.60 Td (W) Tj ET Q
q 0 0 0 rg BT 249.29 490.60 Td (e generate additional revenues from digital activities and programs ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (focused on local interests such as community events and college and professional sports.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (Changes in advertising revenues tend to correlate with changes in the level of economic activity in the U.S. and in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (the local markets in which we operate stations, and with the cyclical changes in political advertising discussed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (previously) Tj ET Q
q 0 0 0 rg BT 95.72 424.60 Td (. Programming content, audience share, audience demographics, and the advertising rates char) Tj ET Q
q 0 0 0 rg BT 510.62 424.60 Td (ged ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (relative to other available advertising opportunities also af) Tj ET Q
q 0 0 0 rg BT 306.08 411.40 Td (fect advertising revenues. On occasion, unusual events ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (necessitate uninterrupted television coverage and will adversely af) Tj ET Q
q 0 0 0 rg BT 342.10 398.20 Td (fect spot advertising revenues.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (Local media�) Tj ET Q
q 0 0 0 rg BT 107.72 371.80 Td (s major expense categories are employee compensation and programming fees paid to the networks. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (Employee compensation represented 35 percent of local media�) Tj ET Q
q 0 0 0 rg BT 329.47 358.60 Td (s operating expenses in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.56 358.60 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.13 358.60 Td (, and is af) Tj ET Q
q 0 0 0 rg BT 525.70 358.60 Td (fected ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (by the same factors noted for national media. Programming fees paid to the networks represented 27 percent of this ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (segment�) Tj ET Q
q 0 0 0 rg BT 89.71 332.20 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 96.74 332.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 145.32 332.20 Td ( expenses. Sales and promotional activities, costs to produce local news programming, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (general overhead costs for facilities and technical resources accounted for most of the remaining 38 percent of local ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (media�) Tj ET Q
q 0 0 0 rg BT 79.93 305.80 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.96 305.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 135.53 305.80 Td ( operating expenses.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (FISCAL) Tj ET Q
q 0 0 0 rg BT 89.74 279.40 Td ( ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 92.49 279.40 Td (2018) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 114.49 279.40 Td ( FINANCIAL) Tj ET Q
q 0 0 0 rg BT 178.97 279.40 Td ( OVER) Tj ET Q
q 0 0 0 rg BT 213.11 279.40 Td (VIEW) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 253.00 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 253.00 Td (On January�31, 2018, Meredith completed its acquisition of ) Tj ET Q
q 0 0 0 rg BT 350.67 253.00 Td (T) Tj ET Q
q 0 0 0 rg BT 357.00 253.00 Td (ime. ) Tj ET Q
q 0 0 0 rg BT 378.79 253.00 Td (T) Tj ET Q
q 0 0 0 rg BT 385.13 253.00 Td (ime's operations have been included in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 239.80 Td (the Company's financial statements since February�1, 2018, the first day of operations for the combined ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 226.60 Td (company) Tj ET Q
q 0 0 0 rg BT 125.61 226.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 130.91 226.60 Td (The acquisition was financed through the issuance of a combination of debt and preferred stock.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 200.20 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 200.20 Td (In May 2018, Meredith completed its sale of MXM.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 173.80 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 173.80 Td (National media revenues increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 242.37 173.80 Td (44 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 288.49 173.80 Td ( compared to the prior year primarily due to the addition of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 160.60 Td (T) Tj ET Q
q 0 0 0 rg BT 92.33 160.60 Td (ime revenues partially of) Tj ET Q
q 0 0 0 rg BT 201.78 160.60 Td (fset by declines in the revenues of our magazine operations. National media ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 147.40 Td (operating profit decreased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 203.58 147.40 Td (33 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.70 147.40 Td ( primarily due to an increase in severance and related benefit costs of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 134.20 Td ($46.7 million, an increase in the impairment of trademarks of $17.4 million, and a decrease in the reduction ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 121.00 Td (of the fair value adjustment related to previously accrued contingent consideration payable of $15.0 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 94.60 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 94.60 Td (Local media revenues increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 229.54 94.60 Td (10 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 275.65 94.60 Td ( as compared to the prior year primarily due to increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 81.40 Td (retransmission revenues and the addition of ) Tj ET Q
q 0 0 0 rg BT 280.08 81.40 Td (T) Tj ET Q
q 0 0 0 rg BT 286.42 81.40 Td (ime revenues. ) Tj ET Q
q 0 0 0 rg BT 350.05 81.40 Td (These increases were partially of) Tj ET Q
q 0 0 0 rg BT 494.62 81.40 Td (fset by a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 68.20 Td (decrease in political advertising revenues, as expected in a non-political year) Tj ET Q
q 0 0 0 rg BT 422.89 68.20 Td (. Operating profit declined ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 542.32 68.20 Td (12 ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 741.40 Td (percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 118.37 741.40 Td ( primarily due to declines in higher) Tj ET Q
q 0 0 0 rg BT 272.72 741.40 Td (-mar) Tj ET Q
q 0 0 0 rg BT 293.28 741.40 Td (gin political advertising revenues due to the cyclical nature ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 728.20 Td (of political advertising partially of) Tj ET Q
q 0 0 0 rg BT 236.70 728.20 Td (fset by increased retransmission consent related profit.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 701.80 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 701.80 Td (Unallocated corporate expenses increased $135.3 million primarily due to char) Tj ET Q
q 0 0 0 rg BT 432.79 701.80 Td (ges for transaction and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 688.60 Td (integration related costs of $58.3 million and severance and related benefit costs of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 453.76 688.60 Td ($52.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.04 688.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 662.20 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 662.20 Td (Diluted earnings per common share from continuing operations decreased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.37 662.20 Td (57 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 460.48 662.20 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.54 662.20 Td ($1.79) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.29 662.20 Td ( from ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
526.17 669.83 24.75 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 526.17 662.20 Td ($4.16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 550.92 662.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 649.00 Td (in the prior year primarily due to the acquisition, disposition, and restructuring related activities costs ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 635.80 Td (resulting in lower income from operations partially of) Tj ET Q
q 0 0 0 rg BT 322.54 635.80 Td (fset by the Company's deferred tax assets, deferred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 622.60 Td (tax liabilities, and tax reserves being remeasured as a result of the ) Tj ET Q
q 0 0 0 rg BT 377.50 622.60 Td (T) Tj ET Q
q 0 0 0 rg BT 383.45 622.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 432.33 622.60 Td (Act.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 596.20 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 596.20 Td (In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 97.91 596.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 146.48 596.20 Td (, we generated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 213.06 596.20 Td ($151.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 277.84 596.20 Td ( in operating cash flows, invested ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.83 596.20 Td ($2.8 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.56 596.20 Td ( in acquisitions of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 583.00 Td (and investments in businesses, and invested ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 281.22 583.00 Td ($53.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.50 583.00 Td ( in capital improvements.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 232.75 543.40 Td (RESUL) Tj ET Q
q 0 0 0 rg BT 268.42 543.40 Td (TS OF) Tj ET Q
q 0 0 0 rg BT 299.49 543.40 Td ( OPERA) Tj ET Q
q 0 0 0 rg BT 339.92 543.40 Td (TIONS) Tj ET Q
0.8 0.9333333333333333 1 rg
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51.00 491.70 255.00 -14.00 re f
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306.00 491.70 50.00 -14.00 re f
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356.00 491.70 4.00 -14.00 re f
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360.00 491.70 40.00 -14.00 re f
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406.00 491.70 50.00 -14.00 re f
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505.00 491.70 50.00 -14.00 re f
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456.00 463.70 4.00 -24.00 re f
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460.00 463.70 40.00 -24.00 re f
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360.00 397.70 40.00 -14.00 re f
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400.00 397.70 6.00 -14.00 re f
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505.00 397.70 50.00 -14.00 re f
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q 0 0 0 rg BT 394.24 715.20 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 399.13 715.20 Td (Advertising demand is the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (Company�) Tj ET Q
q 0 0 0 rg BT 95.83 702.00 Td (s key uncertainty) Tj ET Q
q 0 0 0 rg BT 170.26 702.00 Td (, and its fluctuation from period to period can have a material ef) Tj ET Q
q 0 0 0 rg BT 451.37 702.00 Td (fect on operating results. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td (Demand for political advertising in the Company�) Tj ET Q
q 0 0 0 rg BT 269.34 688.80 Td (s local media segment is cyclical in nature, generally following ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (the biennial cycle of election campaigns with peaks occurring in our odd fiscal years \(e.g., fiscal 2015, fiscal 2017\) ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.40 Td (and particularly in our second fiscal quarter of those fiscal years. Other significant uncertainties that can af) Tj ET Q
q 0 0 0 rg BT 519.26 662.40 Td (fect ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.20 Td (operating results include fluctuations in the cost of paper) Tj ET Q
q 0 0 0 rg BT 299.43 649.20 Td (, postage rates, and over time, television programming ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td (rights. ) Tj ET Q
q 0 0 0 rg BT 80.36 636.00 Td (The Company�) Tj ET Q
q 0 0 0 rg BT 146.04 636.00 Td (s cash flows from operating activities, our primary source of liquidity) Tj ET Q
q 0 0 0 rg BT 451.11 636.00 Td (, is adversely af) Tj ET Q
q 0 0 0 rg BT 519.94 636.00 Td (fected ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (when the advertising market is weak or when costs rise. One of our priorities is to manage our businesses prudently ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (during expanding and contracting economic cycles to maximize shareholder return over time. ) Tj ET Q
q 0 0 0 rg BT 464.29 609.60 Td (T) Tj ET Q
q 0 0 0 rg BT 470.25 609.60 Td (o manage the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (uncertainties inherent in our businesses, we prepare monthly internal forecasts of anticipated results of operations ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.20 Td (and monitor the economic indicators mentioned in the Executive Overview) Tj ET Q
q 0 0 0 rg BT 380.10 583.20 Td (. See ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 404.23 583.20 Td (Item�1A-Risk Factors) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 498.32 583.20 Td ( in this ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (Form�10-K for further discussion.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (NA) Tj ET Q
q 0 0 0 rg BT 65.07 530.40 Td (TIONAL) Tj ET Q
q 0 0 0 rg BT 107.86 530.40 Td ( MEDIA) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 504.00 Td (The following discussion reviews operating results for our national media segment, which includes magazine ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td (publishing, digital and customer relationship marketing, digital and mobile media, af) Tj ET Q
q 0 0 0 rg BT 422.80 490.80 Td (finity marketing, brand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.60 Td (licensing, database-related activities, and other related operations. ) Tj ET Q
q 0 0 0 rg BT 342.40 477.60 Td (The national media segment contributed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 522.32 477.60 Td (69 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.37 464.40 Td ( of Meredith�) Tj ET Q
q 0 0 0 rg BT 140.41 464.40 Td (s consolidated revenues in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 258.93 464.40 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 307.50 464.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.88 464.40 Td (34 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 375.00 464.40 Td ( of the combined operating profit from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.20 Td (national media and local media operations in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.07 451.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 298.64 451.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 303.95 451.20 Td (These results reflect the acquired ) Tj ET Q
q 0 0 0 rg BT 451.87 451.20 Td (T) Tj ET Q
q 0 0 0 rg BT 458.20 451.20 Td (ime business since the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 438.00 Td (date of the acquisition.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.60 Td (National media revenues increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.37 411.60 Td (44 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 252.49 411.60 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.55 411.60 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.12 411.60 Td (. Operating costs and expenses increased 51 percent. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.40 Td (Acquisition, disposition, and restructuring related activities of $46.5 million and impairment char) Tj ET Q
q 0 0 0 rg BT 478.10 398.40 Td (ges of $22.7 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.20 Td (million were recorded in the national media segment. Due to these increased expenses, operating profit declined 33 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 372.00 Td (percent in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 96.42 372.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.99 372.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.60 Td (Fiscal 2017 national media revenues declined 2 percent. Costs and expenses decreased 3 percent and an impairment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.40 Td (char) Tj ET Q
q 0 0 0 rg BT 68.73 332.40 Td (ge of $5.3 million was recorded. Fiscal 2017 segment operating profit was $146.5 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (National media operating results for the last three fiscal years were as follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
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50.00 253.30 264.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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314.00 253.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
364.00 253.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 253.30 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
408.00 253.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
412.00 253.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
462.00 253.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
467.00 253.30 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 253.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 253.30 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 223.30 264.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
314.00 223.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
364.00 223.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 223.30 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
408.00 223.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
412.00 223.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
462.00 223.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
467.00 223.30 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 223.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 223.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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50.00 183.30 264.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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314.00 183.30 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
364.00 183.30 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 183.30 40.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
408.00 183.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
412.00 183.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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462.00 183.30 5.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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467.00 183.30 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 183.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 183.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.00 153.30 264.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
314.00 153.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
364.00 153.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 153.30 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
408.00 153.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
412.00 153.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
462.00 153.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
467.00 153.30 39.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.00 153.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.00 153.30 50.00 -15.00 re f
/GS0 gs
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
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3 M
50 282.29999999999995 m
314 282.29999999999995 l
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1.00 w
0 i
[] 0 d
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3 M
50 268.29999999999995 m
314 268.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
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3 M
314 282.29999999999995 m
364 282.29999999999995 l
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
314 268.29999999999995 m
364 268.29999999999995 l
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1.00 w
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364 282.29999999999995 m
368 282.29999999999995 l
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1.00 w
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364 268.29999999999995 m
368 268.29999999999995 l
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1.00 w
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3 M
368 282.29999999999995 m
408 282.29999999999995 l
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1.00 w
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3 M
368 268.29999999999995 m
408 268.29999999999995 l
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1.00 w
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3 M
408 282.29999999999995 m
412 282.29999999999995 l
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1.00 w
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3 M
408 268.29999999999995 m
412 268.29999999999995 l
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1.00 w
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3 M
412 282.29999999999995 m
462 282.29999999999995 l
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1.00 w
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412 268.29999999999995 m
462 268.29999999999995 l
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3 M
462 282.29999999999995 m
467 282.29999999999995 l
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1.00 w
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3 M
462 268.29999999999995 m
467 268.29999999999995 l
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1.00 w
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3 M
467 282.29999999999995 m
506 282.29999999999995 l
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1.00 w
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467 268.29999999999995 m
506 268.29999999999995 l
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506 282.29999999999995 m
511 282.29999999999995 l
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506 268.29999999999995 m
511 268.29999999999995 l
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511 282.29999999999995 m
561 282.29999999999995 l
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511 268.29999999999995 m
561 268.29999999999995 l
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50 168.29999999999995 m
314 168.29999999999995 l
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314 168.29999999999995 m
364 168.29999999999995 l
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364 168.29999999999995 m
368 168.29999999999995 l
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412 168.29999999999995 m
462 168.29999999999995 l
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462 168.29999999999995 m
467 168.29999999999995 l
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511 168.29999999999995 m
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50 153.29999999999995 m
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314 153.29999999999995 m
364 153.29999999999995 l
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412 153.29999999999995 m
462 153.29999999999995 l
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511 153.29999999999995 m
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50 138.29999999999995 m
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314 153.29999999999995 m
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314 138.29999999999995 m
364 138.29999999999995 l
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364 153.29999999999995 m
368 153.29999999999995 l
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364 138.29999999999995 m
368 138.29999999999995 l
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368 138.29999999999995 m
408 138.29999999999995 l
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408 138.29999999999995 m
412 138.29999999999995 l
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412 153.29999999999995 m
462 153.29999999999995 l
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412 138.29999999999995 m
462 138.29999999999995 l
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462 153.29999999999995 m
467 153.29999999999995 l
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462 138.29999999999995 m
467 138.29999999999995 l
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467 138.29999999999995 m
506 138.29999999999995 l
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506 138.29999999999995 m
511 138.29999999999995 l
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511 153.29999999999995 m
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511 138.29999999999995 m
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.50 272.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.61 272.98 Td (ears ended June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 343.75 272.98 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 375.70 272.98 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 442.80 272.98 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 474.70 272.98 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 536.75 272.98 Td (2016) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.50 258.65 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.50 243.17 Td (Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 96.00 243.17 Td (..............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.50 243.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.75 243.17 Td (1,555.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.60 243.17 Td (44) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.25 243.17 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.50 243.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 424.75 243.17 Td (1,083.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.45 243.17 Td (\(2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.65 243.17 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.50 243.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 523.75 243.17 Td (1,101.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.50 228.17 Td (Operating expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.50 213.17 Td (Costs and expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 145.50 213.17 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.10 213.17 Td (\(1,389.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 359.80 213.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.60 213.17 Td (51) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.25 213.17 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 429.35 213.17 Td (\(922.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.80 213.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.45 213.17 Td (\(3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.65 213.17 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 528.35 213.17 Td (\(954.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 556.80 213.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.50 198.17 Td (Acquisition, disposition, and restructuring related) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.50 187.17 Td (activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.75 187.17 Td (.............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.85 188.22 Td (\(46.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 359.80 188.22 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 378.10 188.22 Td (440) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.25 188.22 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.35 188.22 Td (\(8.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.80 188.22 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.45 188.22 Td (\(2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.65 188.22 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.35 188.22 Td (\(8.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 556.80 188.22 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.50 173.17 Td (Impairment of goodwill and other long-lived assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 285.75 173.17 Td (.........) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.85 173.17 Td (\(22.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 359.80 173.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 378.10 173.17 Td (328) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.25 173.17 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.35 173.17 Td (\(5.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.80 173.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.95 173.17 Td (\(97) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.65 173.17 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 528.35 173.17 Td (\(155.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 556.80 173.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.50 158.17 Td (T) Tj ET Q
q 0 0 0 rg BT 64.45 158.17 Td (otal operating expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.25 158.17 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.10 158.17 Td (\(1,458.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 359.80 158.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.60 158.17 Td (56) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.25 158.17 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 429.35 158.17 Td (\(936.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.80 158.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.95 158.17 Td (\(16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.65 158.17 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 520.10 158.17 Td (\(1,1) Tj ET Q
q 0 0 0 rg BT 537.51 158.17 Td (18.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 556.80 158.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.50 143.17 Td (Operating profit \(loss\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 151.00 143.17 Td (..........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.50 143.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.50 143.17 Td (97.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.95 143.17 Td (\(33) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 394.65 143.17 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.50 143.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.00 143.17 Td (146.5) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 486.00 143.16 Td (n/m) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.50 143.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 533.85 143.17 Td (\(17.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 556.80 143.17 Td (\)) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.50 127.65 Td (n/m - Not meaningful) Tj ET Q
BT /F2 10.00 Tf ET
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<>
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.60 Td (National Media Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (The table below presents the components of revenues for the last three fiscal years.) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 647.50 240.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
290.50 647.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
340.50 647.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
345.50 647.50 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
390.50 647.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
400.50 647.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
450.50 647.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
455.50 647.50 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
500.50 647.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
510.50 647.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
50.50 617.50 240.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
290.50 617.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
340.50 617.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
345.50 617.50 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
390.50 617.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
400.50 617.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
450.50 617.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
455.50 617.50 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
500.50 617.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
510.50 617.50 50.00 -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
50.5 691.5 m
290.5 691.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
50.5 677.5 m
290.5 677.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
290.5 691.5 m
340.5 691.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
290.5 677.5 m
340.5 677.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
340.5 691.5 m
345.5 691.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
340.5 677.5 m
345.5 677.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 691.5 m
390.5 691.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 677.5 m
390.5 677.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
390.5 691.5 m
400.5 691.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
390.5 677.5 m
400.5 677.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
400.5 691.5 m
450.5 691.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
400.5 677.5 m
450.5 677.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
450.5 691.5 m
455.5 691.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
450.5 677.5 m
455.5 677.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
455.5 691.5 m
500.5 691.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
455.5 677.5 m
500.5 677.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
500.5 691.5 m
510.5 691.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
500.5 677.5 m
510.5 677.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
510.5 691.5 m
560.5 691.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
510.5 677.5 m
560.5 677.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
50.5 602.5 m
290.5 602.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
50.5 587.5 m
290.5 587.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
290.5 602.5 m
340.5 602.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
290.5 587.5 m
340.5 587.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
340.5 602.5 m
345.5 602.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
340.5 587.5 m
345.5 587.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 587.5 m
390.5 587.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
390.5 587.5 m
400.5 587.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
400.5 602.5 m
450.5 602.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
400.5 587.5 m
450.5 587.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
450.5 602.5 m
455.5 602.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
450.5 587.5 m
455.5 587.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
455.5 587.5 m
500.5 587.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
500.5 587.5 m
510.5 587.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
510.5 602.5 m
560.5 602.5 l
s
0 0 0 RG
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
510.5 587.5 m
560.5 587.5 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 53.00 682.18 Td (Y) Tj ET Q
q 0 0 0 rg BT 59.11 682.18 Td (ears ended June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 317.00 682.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 364.20 682.18 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 427.00 682.18 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 474.20 682.18 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 537.00 682.18 Td (2016) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 53.00 667.85 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.00 652.37 Td (Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 637.37 Td (Advertising) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 119.25 637.37 Td (.............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.00 637.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 311.50 637.37 Td (746.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 369.80 637.37 Td (43) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.80 637.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 403.00 637.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.50 637.37 Td (520.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.95 637.37 Td (\(1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.15 637.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.00 637.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.50 637.37 Td (527.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 622.37 Td (Circulation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.50 622.37 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 311.50 622.37 Td (489.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 369.80 622.37 Td (52) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.80 622.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.50 622.37 Td (322.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.95 622.37 Td (\(2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.15 622.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.50 622.37 Td (328.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 607.37 Td (Other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 91.75 607.37 Td (.......................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 311.50 607.37 Td (320.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 369.80 607.37 Td (33) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.80 607.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.50 607.37 Td (241.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.95 607.37 Td (\(2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.15 607.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.50 607.37 Td (245.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.00 592.37 Td (T) Tj ET Q
q 0 0 0 rg BT 58.95 592.37 Td (otal revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 119.25 592.37 Td (.............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.00 592.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.25 592.37 Td (1,555.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 369.80 592.37 Td (44) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.80 592.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 403.00 592.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.25 592.37 Td (1,083.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.95 592.37 Td (\(2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.15 592.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.00 592.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 523.25 592.37 Td (1,101.2) Tj ET Q
BT /F2 10.00 Tf ET
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 561.60 Td (Advertising Revenue) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 548.40 Td (The following table presents advertising page information according to Publishers Information Bureau for our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 535.20 Td (major subscription-based magazines for the last three fiscal years:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
56.00 497.50 241.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
297.00 497.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
347.00 497.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 497.50 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
397.00 497.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 497.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
451.00 497.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
456.00 497.50 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
501.00 497.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
505.00 497.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
56.00 467.50 241.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
297.00 467.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
347.00 467.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 467.50 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
397.00 467.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.00 467.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
451.00 467.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
456.00 467.50 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
501.00 467.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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505.00 467.50 50.00 -15.00 re f
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BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 64.61 502.18 Td (ears ended June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 323.50 502.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 364.70 502.18 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 427.50 502.18 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 442.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 442.37 Td (885) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.95 442.37 Td (\(1) Tj ET Q
q 0 0 0 rg BT 482.11 442.37 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.65 442.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 442.37 Td (994) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 427.36 Td (Shape / Fitness) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.75 427.37 Td (.............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 427.37 Td (708) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.95 427.37 Td (\(20) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 427.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 427.37 Td (885) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.45 427.37 Td (\(2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.65 427.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 427.37 Td (905) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 411.41 Td (Martha Stewart Living) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 158.75 411.37 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 411.42 Td (567) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 374.45 411.42 Td (\(6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 411.42 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 411.42 Td (602) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.15 411.42 Td (7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.30 411.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 411.42 Td (565) Tj ET Q
BT /F3 11.00 Tf ET
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BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 91.79 401.35 Td (2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.50 396.37 Td (........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 396.37 Td (550) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.10 396.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.25 396.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.80 396.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 396.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 396.37 Td (�) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 381.36 Td (Rachael Ray Every Day) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 164.25 381.37 Td (...............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 381.37 Td (423) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.95 381.37 Td (\(18) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 381.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 381.37 Td (519) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.15 381.37 Td (6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.30 381.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 366.36 Td (T) Tj ET Q
q 0 0 0 rg BT 64.31 366.36 Td (raditional Home) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 139.50 366.37 Td (........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 366.37 Td (371) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.95 366.37 Td (\(16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 366.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 366.37 Td (440) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.95 366.37 Td (\(1) Tj ET Q
q 0 0 0 rg BT 482.11 366.37 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 366.37 Td (496) Tj ET Q
BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.50 351.37 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 351.37 Td (362) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.95 351.37 Td (\(13) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 351.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 351.37 Td (416) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 351.37 Td (373) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 336.36 Td (Southern Living ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 131.83 341.35 Td (2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 136.75 336.37 Td (.........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 336.37 Td (325) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 336.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 336.37 Td (�) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 321.36 Td (EatingW) Tj ET Q
q 0 0 0 rg BT 96.49 321.36 Td (ell) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.25 321.37 Td (...................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 321.37 Td (314) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.30 321.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 306.37 Td (289) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 120.25 291.37 Td (...............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 291.37 Td (286) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 291.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 291.37 Td (�) Tj ET Q
BT /F3 11.00 Tf ET
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q 0 0 0 rg BT 64.01 276.36 Td (ravel + Leisur) Tj ET Q
q 0 0 0 rg BT 127.24 276.36 Td (e ) Tj ET Q
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BT /F3 7.15 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 139.50 276.37 Td (........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 276.37 Td (273) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.10 276.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.25 276.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 276.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 276.37 Td (�) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 261.36 Td (W) Tj ET Q
q 0 0 0 rg BT 67.16 261.36 Td (ood) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 84.50 261.37 Td (............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 261.37 Td (217) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 378.15 261.37 Td (5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.25 261.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 261.37 Td (206) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 261.37 Td (14) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.30 261.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 261.37 Td (181) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 246.36 Td (Entertainment W) Tj ET Q
q 0 0 0 rg BT 132.34 246.36 Td (eekly ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 157.67 251.35 Td (2) Tj ET Q
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q 0 0 0 rg BT 161.50 246.37 Td (................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 246.37 Td (216) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.10 246.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.25 246.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.80 246.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 246.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 246.37 Td (�) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 231.36 Td (Health ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 91.19 236.35 Td (2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.50 231.37 Td (........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 231.37 Td (212) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.10 231.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.25 231.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.80 231.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 231.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 231.37 Td (�) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 216.36 Td (Cooking Light ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 124.51 221.35 Td (2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.50 216.37 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 216.37 Td (208) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.10 216.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.25 216.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.80 216.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 216.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 216.37 Td (�) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 201.36 Td (FamilyFun) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.25 201.37 Td (...................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 201.37 Td (183) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.95 201.37 Td (\(42) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 201.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 201.37 Td (317) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.95 201.37 Td (\(24) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.65 201.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 201.37 Td (418) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 186.36 Td (Food & W) Tj ET Q
q 0 0 0 rg BT 104.33 186.36 Td (ine ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 120.52 191.35 Td (2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.75 186.37 Td (.............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 186.37 Td (182) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.10 186.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.25 186.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.80 186.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 186.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 186.37 Td (�) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 171.36 Td (Coastal Living ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 126.34 176.35 Td (2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 131.25 171.37 Td (...........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 171.37 Td (1) Tj ET Q
q 0 0 0 rg BT 331.75 171.37 Td (17) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.25 171.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.80 171.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 171.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 171.37 Td (�) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 58.50 156.36 Td (Fit Pr) Tj ET Q
q 0 0 0 rg BT 84.67 156.36 Td (egnancy and Baby / ) Tj ET Q
q 0 0 0 rg BT 174.28 156.36 Td (American Baby ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 245.15 161.35 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.50 156.37 Td (................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.80 156.37 Td (91) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.95 156.37 Td (\(60) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 156.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 156.37 Td (229) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.95 156.37 Td (\(10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.65 156.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 156.37 Td (254) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 58.50 142.75 Td (� Included as a featur) Tj ET Q
q 0 0 0 rg BT 135.35 142.75 Td (e in Par) Tj ET Q
q 0 0 0 rg BT 164.01 142.75 Td (ents, rather than published as a standalone title, effective February 2018.) Tj ET Q
BT /F3 9.00 Tf ET
BT /F3 5.85 Tf ET
q 0 0 0 rg BT 58.50 133.83 Td (2) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 61.42 129.75 Td ( Since date of acquisition in fiscal 2018) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 99.60 Td (National media advertising revenues increased 43 percent in fiscal 2018 primarily due to the addition of advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 86.40 Td (revenues of ) Tj ET Q
q 0 0 0 rg BT 103.56 86.40 Td (T) Tj ET Q
q 0 0 0 rg BT 109.89 86.40 Td (ime. ) Tj ET Q
q 0 0 0 rg BT 131.68 86.40 Td (These increases were partially of) Tj ET Q
q 0 0 0 rg BT 276.25 86.40 Td (fset by low-double digit declines in magazine advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 73.20 Td (revenues and advertising pages as compared to the prior year) Tj ET Q
q 0 0 0 rg BT 317.87 73.20 Td (. Demand was weaker for the majority of the core ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 60.00 Td (advertising categories.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (National media advertising revenues decreased 1 percent in fiscal 2017. Digital advertising revenues grew 21 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (percent in fiscal 2017. Growth in digital advertising was primarily led by native, engagement-based video, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (programmatic advertising, along with shopper marketing revenues. Magazine advertising revenues declined 9 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (percent and advertising pages decreased 5 percent. ) Tj ET Q
q 0 0 0 rg BT 274.79 701.80 Td (Approximately 20 percent of the magazine ad revenues decline ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (and 55 percent of the ad pages decline were due to the closing of ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 337.72 688.60 Td (MORE) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.27 688.60 Td ( magazine. ) Tj ET Q
q 0 0 0 rg BT 418.05 688.60 Td (Approximately 50 percent of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (remaining decline in magazine ad revenues and most of the remaining decline in ad pages were due to softness in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (the parenting titles. ) Tj ET Q
q 0 0 0 rg BT 136.76 662.20 Td (Among our core advertising categories, the food and beverage, direct response, and beauty ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (categories showed strength while demand was weaker for the finance, prescription drug, and non-prescription drug ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (categories.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (Circulation Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (Magazine circulation revenues increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 232.02 596.20 Td (52 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 278.14 596.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.19 596.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.76 596.20 Td ( primarily due to the addition of ) Tj ET Q
q 0 0 0 rg BT 483.84 596.20 Td (T) Tj ET Q
q 0 0 0 rg BT 490.17 596.20 Td (ime circulation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (revenues of $190.2 million partially of) Tj ET Q
q 0 0 0 rg BT 219.65 583.00 Td (fset by a reduction in subscription revenues of $16.4 million and a decline in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (newsstand revenues of $6.5 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (Magazine circulation revenues declined 2 percent in fiscal 2017. Subscription revenues were down in the low-single ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (digits on a percentage basis. Newsstand revenues declined 1 percent. Subscription and newsstand revenues were ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 58.35 517.00 Td (fected by the closure of ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 164.33 517.00 Td (MORE) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 194.87 517.00 Td ( magazine. Newsstand revenues benefited from the strong performance of ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 522.61 517.00 Td (The ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (Magnolia Journal) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 129.74 503.80 Td (, Meredith�) Tj ET Q
q 0 0 0 rg BT 178.62 503.80 Td (s new quarterly lifestyle magazine based on Joanna and Chip Gaines�) Tj ET Q
q 0 0 0 rg BT 483.26 503.80 Td ( popular ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (Magnolia brand. ) Tj ET Q
q 0 0 0 rg BT 125.25 490.60 Td (The subscription revenues decline was also partially due to ongoing ef) Tj ET Q
q 0 0 0 rg BT 434.80 490.60 Td (forts to source a lar) Tj ET Q
q 0 0 0 rg BT 519.51 490.60 Td (ger ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (percentage of magazine subscribers from Meredith�) Tj ET Q
q 0 0 0 rg BT 276.93 477.40 Td (s own database instead of external agent sources. ) Tj ET Q
q 0 0 0 rg BT 495.13 477.40 Td (This direct-to-) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 389.16 464.20 Td (The direct-to-publisher strategy is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (expected to adversely af) Tj ET Q
q 0 0 0 rg BT 156.39 451.00 Td (fect subscription revenues for the foreseeable future.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (Other Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (Other revenues increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.92 411.40 Td (33 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 210.03 411.40 Td ( in fiscal 2018 primarily due to the addition of other revenues from ) Tj ET Q
q 0 0 0 rg BT 507.06 411.40 Td (T) Tj ET Q
q 0 0 0 rg BT 513.39 411.40 Td (ime of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td ($126.1 million partially of) Tj ET Q
q 0 0 0 rg BT 165.90 398.20 Td (fset by declines of $27.2 million in MXM revenues, primarily due to the sale of MXM in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (the fourth quarter of fiscal 2018 and of $10.0 million due to the sale of a majority stake in Charleston ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (Other revenues decreased 2 percent in fiscal 2017 primarily due to a decline in MXM revenues of $6.7 million due ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (to certain client losses and project scope reductions and a decrease in brand licensing revenues of $2.4 million. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (These declines were partially of) Tj ET Q
q 0 0 0 rg BT 190.29 319.00 Td (fset by increases in e-commerce revenues of $8.2 million.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (National Media Costs and Expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (National media costs and expenses increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.37 266.20 Td (51 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 296.49 266.20 Td ( in fiscal 2018 primarily due to the addition of ) Tj ET Q
q 0 0 0 rg BT 502.19 266.20 Td (T) Tj ET Q
q 0 0 0 rg BT 508.52 266.20 Td (ime ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (operating costs and expenses of $566.6 million and a decrease in the reduction of the fair value adjustment related ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (to previously accrued contingent consideration payable of $15.0 million. ) Tj ET Q
q 0 0 0 rg BT 372.08 239.80 Td (These increases were partially of) Tj ET Q
q 0 0 0 rg BT 516.64 239.80 Td (fset by ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 187.96 213.40 Td (1.6 million, lower postage and other delivery costs of $10.0 million, and a decrease ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (in performance-based incentive accruals of $7.1 million.) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 305.66 173.80 Td (An increase in the reduction of previously accrued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (contingent consideration payable of $15.3 million and a decline in paper expense of $10.7 million contributed to the ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (in average paper prices as compared to fiscal 2016. ) Tj ET Q
q 0 0 0 rg BT 277.24 134.20 Td (Also contributing to the decline was decreases in postage and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (other delivery costs of $8.2 million, lower employee compensation costs of $7.6 million, decreases in processing ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
q 0 0 0 rg BT 502.85 107.80 Td (MORE) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 533.40 107.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 395.04 94.60 Td (fset by higher magazine and digital-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (related production costs of $14.5 million and increases in circulation expenses of $5.8 million.) Tj ET Q
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 125.17 741.60 Td (Acquisition, Disposition, and Restructuring Related ) Tj ET Q
q 0 0 0 rg BT 369.95 741.60 Td (Activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (National media acquisition, disposition, and restructuring related activities increased from $8.6 million in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (2017 to $46.5 million in fiscal 2018 primarily due to an increase in the severance and benefits related accrual of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td ($46.7 million partially of) Tj ET Q
q 0 0 0 rg BT 160.40 688.80 Td (fset by a gain related to the sale of MXM of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.20 688.80 Td ($1) Tj ET Q
q 0 0 0 rg BT 366.79 688.80 Td (1.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.07 688.80 Td (, which was recorded as a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (reduction in expenses.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.20 Td (Fiscal 2017 national media acquisition, disposition, and restructuring related activities decreased 2 percent as the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td (severance and benefits related accrual was approximately the same in both years.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (National Media Impairment of Goodwill and Other) Tj ET Q
q 0 0 0 rg BT 291.19 609.60 Td ( Long-Lived ) Tj ET Q
q 0 0 0 rg BT 351.09 609.60 Td (Assets) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 369.59 583.20 Td (ges of $22.7 million in fiscal 2018 and $5.3 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (million in fiscal 2017 related to trademarks.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (National Media Operating Pr) Tj ET Q
q 0 0 0 rg BT 188.20 543.60 Td (ofit \(Loss\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.20 Td (National media operating profit decreased to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.14 517.20 Td ($97.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.42 517.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.48 517.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.05 517.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 376.35 517.20 Td (The decline was primarily due to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 504.00 Td (increased severance and benefits related costs of $46.7 million, an increase in the impairment of trademarks of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td ($17.4 million, and a decrease in the reduction of the fair value adjustment related to previously accrued contingent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.60 Td (consideration payable of $15.0 million partially of) Tj ET Q
q 0 0 0 rg BT 271.27 477.60 Td (fset by an increase in operating income from ) Tj ET Q
q 0 0 0 rg BT 470.22 477.60 Td (T) Tj ET Q
q 0 0 0 rg BT 476.56 477.60 Td (ime of $14.4 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 438.00 Td (Fiscal 2017 national media operating profit grew to $146.5 million. ) Tj ET Q
q 0 0 0 rg BT 349.19 438.00 Td (The reduction in impairment char) Tj ET Q
q 0 0 0 rg BT 496.83 438.00 Td (ges of $150.5 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.80 Td (million and an increase in the reduction of previously accrued contingent consideration payable of $15.3 million in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.60 Td (fiscal 2017 contributed to the increase. In addition, growth in the operating profit of our digital operations of $21.6 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.40 Td (million partially of) Tj ET Q
q 0 0 0 rg BT 132.90 398.40 Td (fset declines in the operating profit of our magazine operations of $14.4 million and MXM�) Tj ET Q
q 0 0 0 rg BT 535.22 398.40 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.20 Td (operations of $7.2 million.) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 88.51 345.60 Td ( MEDIA) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 354.28 319.20 Td (s local media segment, which consists of ) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 536.35 319.20 Td (17) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.35 319.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (television stations and related digital and mobile media. ) Tj ET Q
q 0 0 0 rg BT 298.16 306.00 Td (W) Tj ET Q
q 0 0 0 rg BT 308.10 306.00 Td (ith the acquisition of ) Tj ET Q
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q 0 0 0 rg BT 407.71 306.00 Td (ime, the local media segment ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 456.63 292.80 Td (geted digital and print ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (advertising programs sold to third parties. ) Tj ET Q
q 0 0 0 rg BT 236.46 279.60 Td (The local media segment contributed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.32 279.60 Td (31 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.44 279.60 Td ( of Meredith�) Tj ET Q
q 0 0 0 rg BT 506.48 279.60 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.40 Td (consolidated revenues in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.49 266.40 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 210.06 266.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.45 266.40 Td (66 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 277.56 266.40 Td ( of the combined operating profit from local media and national ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.20 Td (media operations in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 139.50 253.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.07 253.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.80 Td (Local media revenues increased 10 percent in fiscal 2018 as a slight increase in non-political revenues and a strong ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.60 Td (increase in other revenues more than of) Tj ET Q
q 0 0 0 rg BT 223.28 213.60 Td (fset a $46.4 million reduction in political advertising, which is expected in a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.40 Td (non-political year) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 174.00 Td (Fiscal 2017 local media revenues rose 15 percent and operating profit grew 36 percent primarily reflecting ) Tj ET Q
BT /F2 11.00 Tf ET
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/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
514.5 717.7 m
518.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
514.5 703.7 m
518.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
518.5 717.7 m
561.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
518.5 703.7 m
561.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 628.7 m
329.5 628.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
329.5 628.7 m
374.5 628.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
374.5 628.7 m
379.5 628.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
424.5 628.7 m
469.5 628.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 628.7 m
474.5 628.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
518.5 628.7 m
561.5 628.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 613.7 m
329.5 613.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
329.5 613.7 m
374.5 613.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
374.5 613.7 m
379.5 613.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
379.5 613.7 m
419.5 613.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
419.5 613.7 m
424.5 613.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
424.5 613.7 m
469.5 613.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 613.7 m
474.5 613.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
474.5 613.7 m
514.5 613.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
514.5 613.7 m
518.5 613.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
518.5 628.7 m
561.5 628.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
518.5 613.7 m
561.5 613.7 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 708.38 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 708.38 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 351.00 708.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 388.20 708.38 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 446.00 708.38 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 482.20 708.38 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 538.00 708.38 Td (2016) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 694.05 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 678.57 Td (Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.00 678.57 Td (....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.00 678.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.50 678.57 Td (693.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.10 678.57 Td (10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.75 678.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.00 678.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.50 678.57 Td (630.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 490.10 678.57 Td (15) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 504.80 678.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.00 678.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 678.57 Td (548.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 663.57 Td (Operating expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.00 648.57 Td (Costs and expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.50 648.57 Td (..................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 341.85 648.57 Td (\(503.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.30 648.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.10 648.57 Td (22) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.75 648.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.85 648.57 Td (\(413.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 465.30 648.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 495.65 648.57 Td (6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 504.80 648.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 528.85 648.57 Td (\(391.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 648.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.00 633.57 Td (Acquisition, disposition, and restructuring related activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.50 633.57 Td (..) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 352.85 633.57 Td (\(0.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.30 633.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.45 633.57 Td (\(47) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.15 633.57 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.85 633.57 Td (\(1.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 465.30 633.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.95 633.57 Td (\(206) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.15 633.57 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.50 633.57 Td (1.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 618.57 Td (Operating profit) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.25 618.57 Td (.........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.00 618.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.50 618.57 Td (189.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.45 618.57 Td (\(12) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.15 618.57 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.00 618.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.50 618.57 Td (214.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 490.10 618.57 Td (36) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 504.80 618.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.00 618.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 618.57 Td (158.5) Tj ET Q
BT /F2 10.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 587.80 Td (Local Media Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 561.40 Td (The table below presents the components of revenues for the last three fiscal years.) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 493.70 242.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.50 493.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
341.50 493.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
346.50 493.70 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
391.50 493.70 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.50 493.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
451.50 493.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
456.50 493.70 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
501.50 493.70 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 493.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 463.70 242.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.50 463.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
341.50 463.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
346.50 463.70 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
391.50 463.70 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.50 463.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
451.50 463.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
456.50 463.70 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
501.50 463.70 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 463.70 50.00 -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
49.5 537.7 m
291.5 537.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 523.7 m
291.5 523.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
291.5 537.7 m
341.5 537.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
291.5 523.7 m
341.5 523.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
341.5 537.7 m
346.5 537.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
341.5 523.7 m
346.5 523.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
346.5 537.7 m
391.5 537.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
346.5 523.7 m
391.5 523.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
391.5 537.7 m
401.5 537.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
391.5 523.7 m
401.5 523.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 537.7 m
451.5 537.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 523.7 m
451.5 523.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
451.5 537.7 m
456.5 537.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
451.5 523.7 m
456.5 523.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
456.5 537.7 m
501.5 537.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
456.5 523.7 m
501.5 523.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
501.5 537.7 m
511.5 537.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
501.5 523.7 m
511.5 523.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 537.7 m
561.5 537.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 523.7 m
561.5 523.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 448.7 m
291.5 448.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
291.5 448.7 m
341.5 448.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
341.5 448.7 m
346.5 448.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 448.7 m
451.5 448.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
451.5 448.7 m
456.5 448.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 448.7 m
561.5 448.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 433.7 m
291.5 433.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
291.5 433.7 m
341.5 433.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
341.5 433.7 m
346.5 433.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
346.5 433.7 m
391.5 433.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
391.5 433.7 m
401.5 433.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 433.7 m
451.5 433.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
451.5 433.7 m
456.5 433.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
456.5 433.7 m
501.5 433.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
501.5 433.7 m
511.5 433.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 433.7 m
561.5 433.7 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 528.38 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 528.38 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 318.00 528.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 365.20 528.38 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 428.00 528.38 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 475.20 528.38 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 538.00 528.38 Td (2016) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 514.05 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 498.57 Td (Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 483.57 Td (Non-political advertising) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 175.25 483.57 Td (.........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 294.00 483.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.50 483.57 Td (354.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 372.65 483.57 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.75 483.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.00 483.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.50 483.57 Td (351.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.95 483.57 Td (\(6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.15 483.57 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 483.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 483.57 Td (374.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 468.57 Td (Political advertising) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.25 468.57 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.00 468.57 Td (16.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 363.45 468.57 Td (\(74) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 378.15 468.57 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.00 468.57 Td (62.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.60 468.57 Td (381) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.80 468.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 468.57 Td (13.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 453.57 Td (Other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 90.00 453.57 Td (........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.50 453.57 Td (322.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.15 453.57 Td (49) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.75 453.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.50 453.57 Td (216.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.15 453.57 Td (34) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.80 453.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 453.57 Td (161.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 438.57 Td (T) Tj ET Q
q 0 0 0 rg BT 57.95 438.57 Td (otal revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 117.50 438.57 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 294.00 438.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.50 438.57 Td (693.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.15 438.57 Td (10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.75 438.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.00 438.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.50 438.57 Td (630.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.15 438.57 Td (15) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.80 438.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 438.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 438.57 Td (548.4) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 407.80 Td (Local media revenues increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 193.54 407.80 Td (10 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 239.65 407.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 253.71 407.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.28 407.80 Td (. Political advertising revenues totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 473.34 407.80 Td ($16.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.63 407.80 Td ( in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 394.60 Td (current fiscal year compared to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 189.57 394.60 Td ($62.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 248.85 394.60 Td ( in the prior year) Tj ET Q
q 0 0 0 rg BT 321.55 394.60 Td (. Fluctuations in political advertising revenues at our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 381.40 Td (stations and throughout the broadcasting industry generally follow the biennial cycle of election campaigns. Non-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 368.20 Td (political advertising revenues increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.54 368.20 Td (1 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 267.16 368.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 281.21 368.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 329.79 368.20 Td (. Local non-political advertising revenues increased ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 104.67 355.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.24 355.00 Td ( while national non-political advertising revenues increased 2 percent in ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.92 341.80 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 233.46 249.40 Td (1 percent in fiscal 2017. Digital advertising increased 17 percent as ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 174.14 741.60 Td (ofit) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 285.17 715.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 329.33 715.20 Td ( primarily due to lower political advertising ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (increase in higher) Tj ET Q
q 0 0 0 rg BT 127.97 675.60 Td (-mar) Tj ET Q
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.51 427.60 Td ($52.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.79 427.60 Td (, $9.2 million for ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 388.00 Td (involuntary terminations.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.25 361.60 Td ($52.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 369.53 361.60 Td ( in fiscal 2017 from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.04 361.60 Td ($10.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 518.32 361.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 508.90 335.20 Td (fset by ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 475.20 196.58 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 327.90 702.00 Td (These increases were partially of) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (costs of $6.1 million, non-payroll related editorial costs of $4.9 million, and MXM production costs of $4.4 million ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (more than of) Tj ET Q
q 0 0 0 rg BT 106.00 609.60 Td (fset increases in programming fees paid to af) Tj ET Q
q 0 0 0 rg BT 303.43 609.60 Td (filiated networks of $21.1 million and higher magazine ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (and digital-related production costs of $14.5 million.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (Selling, General, and ) Tj ET Q
q 0 0 0 rg BT 148.91 570.00 Td (Administrative Expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.80 Td (Selling, general, and administrative expenses increased 32 percent in fiscal 2018 primarily due to the addition of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (selling, general, and administrative expenses of ) Tj ET Q
q 0 0 0 rg BT 261.18 543.60 Td (T) Tj ET Q
q 0 0 0 rg BT 267.51 543.60 Td (ime of $289.1 million and a decrease in the reduction of the fair ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (value adjustment related to previously accrued contingent consideration payable of $15.0 million partially of) Tj ET Q
q 0 0 0 rg BT 528.16 530.40 Td (fset by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.20 Td (a reduction in circulation expenses of $22.7 million, declines in payroll and related costs of $1) Tj ET Q
q 0 0 0 rg BT 464.73 517.20 Td (1.7 million, a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 504.00 Td (decrease in non-payroll related costs in MXM of $6.3 million, and lower performance-based incentive accruals of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td ($6.1 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (Fiscal 2017 selling, general, and administrative expenses increased 1 percent as increases in MXM selling and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.20 Td (general expenses of $8.4 million, higher circulation expenses of $5.8 million, increased employee compensation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 438.00 Td (costs of $4.7 million, higher performance-based incentive accruals of $3.9 million, and the write-down of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.80 Td (investments of $3.6 million, were partially of) Tj ET Q
q 0 0 0 rg BT 248.98 424.80 Td (fset by an increase in the reduction of previously accrued contingent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.60 Td (consideration payable of $15.3 million.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.20 Td (Acquisition, disposition, and restructuring related activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 372.00 Td (Fiscal 2018 acquisition, disposition, and restructuring related activities expense primarily includes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 485.32 372.00 Td ($104.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 550.10 372.00 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (of severance and related benefit costs and $59.9 million of transaction costs related to investment banking, legal, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.60 Td (accounting, and other professional fees and expenses plus integration costs primarily for business advisors and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.40 Td (software and systems implementations and modifications, and a credit for a gain on the sale of MXM of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 510.36 332.40 Td ($1) Tj ET Q
q 0 0 0 rg BT 520.95 332.40 Td (1.5 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.20 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 319.20 Td (. Fiscal 2017 acquisition, disposition, and restructuring related activities expense primarily represented ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (severance and related benefit costs.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (Depreciation and ) Tj ET Q
q 0 0 0 rg BT 130.87 279.60 Td (Amortization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.40 Td (Fiscal 2018 depreciation and amortization expense increased to $129.0 million from $53.8 million in fiscal 2017 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.20 Td (primarily due to the addition of ) Tj ET Q
q 0 0 0 rg BT 190.33 253.20 Td (T) Tj ET Q
q 0 0 0 rg BT 196.66 253.20 Td (ime�) Tj ET Q
q 0 0 0 rg BT 216.21 253.20 Td (s depreciation and amortization expense.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.80 Td (Depreciation and amortization expense declined 9 percent in fiscal 2017 primarily due to decreases in depreciation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.60 Td (in our local media segment.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.20 Td (Impairment of Goodwill and Other Long-lived ) Tj ET Q
q 0 0 0 rg BT 262.27 187.20 Td (Assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 174.00 Td (The impairment of long-lived assets recorded in fiscal 2018 of $22.7 million and in fiscal 2017 of $6.2 million ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.80 Td (related primarily to pre-tax, non-cash impairments of trademarks in the national media segment.) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.40 Td (Operating Expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.20 Td (Employee compensation including benefits was the lar) Tj ET Q
q 0 0 0 rg BT 290.51 121.20 Td (gest component of our operating expenses in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.99 121.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.56 121.20 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 108.00 Td (Employee compensation represented 38 percent of total operating expenses in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.77 108.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 444.34 108.00 Td (, compared to 34 percent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.80 Td (in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 61.31 94.80 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.88 94.80 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 134.01 94.80 Td (31 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 180.13 94.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 194.18 94.80 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 242.75 94.80 Td (. National media paper) Tj ET Q
q 0 0 0 rg BT 342.49 94.80 Td (, production, and postage combined expense was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.60 Td (the second lar) Tj ET Q
q 0 0 0 rg BT 110.89 81.60 Td (gest component of our operating costs in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.66 81.60 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 341.23 81.60 Td (, representing 14 percent of the total. ) Tj ET Q
q 0 0 0 rg BT 505.66 81.60 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.40 Td (expenses were 18 percent of total operating expense in both fiscal 2017 and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.69 68.40 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.26 68.40 Td (.) Tj ET Q
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q 0 0 0 rg BT 301.00 31.60 Td (39) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.60 Td (Income fr) Tj ET Q
q 0 0 0 rg BT 95.92 741.60 Td (om Operations) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (Income from operations decreased 68 percent in fiscal 2018 primarily due to an increase in acquisition, disposition, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (and restructuring related activities of $163.1 million, lower operating profit in our local media operations of $25.8 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td (million, an increase of $17.4 million in impairment of trademarks, and a decrease in the reduction of the fair value ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (adjustment related to previously accrued contingent consideration payable of $15.0 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.20 Td (Income from operations increased 137 percent in fiscal 2017 primarily due to the non-cash impairment char) Tj ET Q
q 0 0 0 rg BT 524.17 649.20 Td (ges of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td ($161.5 million recorded in fiscal 2016. ) Tj ET Q
q 0 0 0 rg BT 223.52 636.00 Td (Absent the impairment char) Tj ET Q
q 0 0 0 rg BT 345.81 636.00 Td (ges, income from operations increased 6 percent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (in fiscal 2017 primarily due to higher operating profits in our local media segment of $56.4 million, a reduction of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td ($16.5 million in mer) Tj ET Q
q 0 0 0 rg BT 140.24 609.60 Td (ger) Tj ET Q
q 0 0 0 rg BT 154.06 609.60 Td (-related expenses, and an increase in the reduction of previously accrued contingent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (consideration payable of $15.3 million partially of) Tj ET Q
q 0 0 0 rg BT 271.27 596.40 Td (fset by the absence of the $60.0 million received by the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.20 Td (in fiscal 2016 in conjunction with the termination of the mer) Tj ET Q
q 0 0 0 rg BT 315.57 583.20 Td (ger agreement.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.80 Td (Non-operating Expense, net) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (Fiscal 2018 non-operating expense relates primarily to the write-down of an equity method investment to fair value ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.20 Td (as the investee was sold to an unrelated third-party in ) Tj ET Q
q 0 0 0 rg BT 286.44 517.20 Td (April 2018.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td (Inter) Tj ET Q
q 0 0 0 rg BT 73.63 490.80 Td (est Expense, net) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (Net interest expense was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.79 464.40 Td ($96.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 221.07 464.40 Td ( in fiscal 2018, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 289.20 464.40 Td ($18.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 348.48 464.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 362.54 464.40 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.11 464.40 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.24 464.40 Td ($20.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.52 464.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.58 464.40 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.15 464.40 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.20 Td (A) Tj ET Q
q 0 0 0 rg BT 57.13 451.20 Td (verage long-term debt outstanding was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 230.94 451.20 Td ($1.9 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 281.67 451.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.72 451.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.29 451.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.79 451.20 Td ($678.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.57 451.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.63 451.20 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.20 451.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.33 451.20 Td ($766.4 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 438.00 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 438.00 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.84 438.00 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.41 438.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 149.71 438.00 Td (The Company�) Tj ET Q
q 0 0 0 rg BT 215.39 438.00 Td (s approximate weighted average interest rate was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.38 438.00 Td (5.1 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.25 438.00 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.30 438.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 545.88 438.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.80 Td (2.8 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.87 424.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 112.92 424.80 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.49 424.80 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 185.63 424.80 Td (2.7 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 234.49 424.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 248.55 424.80 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 297.12 424.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 302.42 424.80 Td (The weighted average interest rates include the ef) Tj ET Q
q 0 0 0 rg BT 520.59 424.80 Td (fects of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.60 Td (derivative financial instruments until their termination in January 2018.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.20 Td (On January�31, 2018, in connection with the Company's acquisition of ) Tj ET Q
q 0 0 0 rg BT 362.48 385.20 Td (T) Tj ET Q
q 0 0 0 rg BT 368.82 385.20 Td (ime, the Company repaid and terminated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 372.00 Td (Meredith's existing indebtedness. In connection with the payof) Tj ET Q
q 0 0 0 rg BT 325.50 372.00 Td (f of this indebtedness, Meredith recognized a loss on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (extinguishment of debt of $2.2 million. In conjunction with the repayment of its debt, the Company also settled the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.60 Td (associated interest rate swap agreements and recognized a gain on the settlement of $1.6 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.20 Td (On January�31, 2018, Meredith entered into a credit agreement that provided for $1.8 billion aggregate principal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (amount of senior secured term loan \(T) Tj ET Q
q 0 0 0 rg BT 217.84 306.00 Td (erm Loan B\). ) Tj ET Q
q 0 0 0 rg BT 279.35 306.00 Td (The ) Tj ET Q
q 0 0 0 rg BT 299.00 306.00 Td (T) Tj ET Q
q 0 0 0 rg BT 304.95 306.00 Td (erm Loan B bears interest at the London Interbank ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 61.41 292.80 Td (fered Rate \(LIBOR\) plus 3.00 percent. ) Tj ET Q
q 0 0 0 rg BT 233.49 292.80 Td (The interest rate on the ) Tj ET Q
q 0 0 0 rg BT 337.44 292.80 Td (T) Tj ET Q
q 0 0 0 rg BT 343.39 292.80 Td (erm Loan B was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 418.54 292.80 Td (5.09 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.90 292.80 Td ( at June�30, 2018. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (Also on January�31, 2018, Meredith issued $1.4 billion aggregate principal amount of the 2026 Senior Notes that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.40 Td (carry an interest rate of 6.875 percent. In connection with the issuance of this indebtedness, the Company incurred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.20 Td ($14.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.28 253.20 Td ( of deferred financing costs and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 251.00 253.20 Td ($56.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.28 253.20 Td ( of discount costs that are being amortized into interest ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 240.00 Td (expense over the lives of the respective facilities.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.60 Td (In addition, the Company incurred $17.5 million in fees that were recorded in interest expense related to an ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 93.70 174.00 Td (axes) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 275.42 147.60 Td ($123.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.20 147.60 Td ( primarily reflecting the remeasurement of the ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 95.83 134.40 Td (s deferred tax assets and liabilities and a reduced tax rate as a result of the ) Tj ET Q
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q 0 0 0 rg BT 429.01 134.40 Td (ax Reform ) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 112.11 121.20 Td (fset in part by non-deductible expenses including transaction costs. In fiscal 2017, the Company ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 192.63 108.00 Td ($101.4 million) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 297.22 108.00 Td (fective rate of 34.9 percent. ) Tj ET Q
q 0 0 0 rg BT 420.70 108.00 Td (The fiscal 2017 ef) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 249.26 81.60 Td (The Company�) Tj ET Q
q 0 0 0 rg BT 314.94 81.60 Td (s ef) Tj ET Q
q 0 0 0 rg BT 330.32 81.60 Td (fective tax rate was ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 349.88 68.40 Td (16.9 million, of which approximately 20 ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 104.83 728.20 Td (Act. ) Tj ET Q
q 0 0 0 rg BT 126.01 728.20 Td (The ) Tj ET Q
q 0 0 0 rg BT 145.66 728.20 Td (T) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (fiscal year ended June�30, 2018, including, but not limited to, \(1\) reducing the U.S. federal corporate tax rate, \(2\) ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (bonus depreciation that allows for full expensing of qualified property and \(3\) limitations on the deductibility of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (interest expense and certain executive compensation and \(4\) a one-time transition tax on certain unrepatriated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (earnings of foreign subsidiaries. ) Tj ET Q
q 0 0 0 rg BT 193.68 675.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 213.33 675.40 Td (T) Tj ET Q
q 0 0 0 rg BT 219.29 675.40 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 268.16 675.40 Td (Act reduced the federal corporate tax rate to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.83 675.40 Td (21 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 510.95 675.40 Td ( in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (fiscal year ended June�30, 2018. Pursuant to Section�15 of the Internal Revenue Code, the Company applied a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (blended corporate tax rate of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 179.19 649.00 Td (28 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 225.30 649.00 Td ( for fiscal 2018, which was based on the applicable tax rates before and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (after the ) Tj ET Q
q 0 0 0 rg BT 88.89 635.80 Td (T) Tj ET Q
q 0 0 0 rg BT 94.84 635.80 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 143.71 635.80 Td (Act and the number of days in the year) Tj ET Q
q 0 0 0 rg BT 314.16 635.80 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (The SEC issued Staf) Tj ET Q
q 0 0 0 rg BT 140.55 609.40 Td (f ) Tj ET Q
q 0 0 0 rg BT 146.35 609.40 Td (Accounting Bulletin No.�1) Tj ET Q
q 0 0 0 rg BT 262.65 609.40 Td (18 \(SAB�1) Tj ET Q
q 0 0 0 rg BT 309.31 609.40 Td (18\), which provides guidance on accounting for the tax ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 596.20 Td (fects of the ) Tj ET Q
q 0 0 0 rg BT 109.76 596.20 Td (T) Tj ET Q
q 0 0 0 rg BT 115.72 596.20 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 164.59 596.20 Td (Act. SAB�1) Tj ET Q
q 0 0 0 rg BT 215.21 596.20 Td (18 provides a measurement period that should not extend beyond one year ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (from the ) Tj ET Q
q 0 0 0 rg BT 90.12 583.00 Td (T) Tj ET Q
q 0 0 0 rg BT 96.07 583.00 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 144.95 583.00 Td (Act enactment date for companies to complete the accounting under ) Tj ET Q
q 0 0 0 rg BT 446.73 583.00 Td (Accounting Standards ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (Codification \(ASC\)�740 � ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 166.71 569.80 Td (Income T) Tj ET Q
q 0 0 0 rg BT 206.94 569.80 Td (axes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 229.24 569.80 Td (\(ASC�740\). In accordance with SAB�1) Tj ET Q
q 0 0 0 rg BT 398.38 569.80 Td (18, a company must reflect the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (income tax ef) Tj ET Q
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q 0 0 0 rg BT 233.48 556.60 Td (T) Tj ET Q
q 0 0 0 rg BT 239.43 556.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 288.30 556.60 Td (Act for which the accounting under ) Tj ET Q
q 0 0 0 rg BT 446.53 556.60 Td (ASC�740 is complete. ) Tj ET Q
q 0 0 0 rg BT 545.63 556.60 Td (T) Tj ET Q
q 0 0 0 rg BT 551.58 556.60 Td (o ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 332.02 543.40 Td (fects of the ) Tj ET Q
q 0 0 0 rg BT 383.44 543.40 Td (T) Tj ET Q
q 0 0 0 rg BT 389.39 543.40 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 438.27 543.40 Td (Act is incomplete but it can ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (determine a reasonable estimate, it must record a provisional estimate in the consolidated financial statements. If a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (company cannot determine a provisional estimate to be included in the consolidated financial statements, it should ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (continue to apply ) Tj ET Q
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q 0 0 0 rg BT 433.51 503.80 Td (fect immediately before the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (enactment of the ) Tj ET Q
q 0 0 0 rg BT 125.85 490.60 Td (T) Tj ET Q
q 0 0 0 rg BT 131.80 490.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 180.68 490.60 Td (Act.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (In connection with our initial analysis of the impact of the ) Tj ET Q
q 0 0 0 rg BT 307.93 464.20 Td (T) Tj ET Q
q 0 0 0 rg BT 313.88 464.20 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 362.76 464.20 Td (Act, we recorded a provisional net tax ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (benefit of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.20 451.00 Td ($133.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.98 451.00 Td ( in the quarter ended December�31, 2017. ) Tj ET Q
q 0 0 0 rg BT 344.88 451.00 Td (This net benefit primarily consists of a benefit ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (for the corporate rate reduction. ) Tj ET Q
q 0 0 0 rg BT 191.71 437.80 Td (As the Company was projecting a net operating loss for the fiscal year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (June�30, 2018, deferred tax assets and liabilities expected to be recognized in the fiscal year ended June�30, 2018, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (were remeasured using the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.34 411.40 Td (21 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.46 411.40 Td ( U.S. corporate tax rate. Due to our limited international operations, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (impact of the transitional tax was immaterial.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (During the quarter ended June�30, 2018, we did not make any provisional adjustment to the amount. ) Tj ET Q
q 0 0 0 rg BT 493.37 371.80 Td (W) Tj ET Q
q 0 0 0 rg BT 502.87 371.80 Td (e continue to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (assess new guidance issued by tax authorities as well as our ability to change certain methods of accounting and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (expect to finalize our accounting for the provision of the ) Tj ET Q
q 0 0 0 rg BT 300.88 345.40 Td (T) Tj ET Q
q 0 0 0 rg BT 306.83 345.40 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 355.71 345.40 Td (Act within the measurement period.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (Ef) Tj ET Q
q 0 0 0 rg BT 60.18 319.00 Td (fective July�1, 2017, the Company adopted new accounting guidance related to share-based compensation. Under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (this new guidance, excess tax benefits and deficiencies are to be recognized as a discrete component of the income ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (tax provision in the period they occur and not as an adjustment to additional paid-in capital. ) Tj ET Q
q 0 0 0 rg BT 455.37 292.60 Td (As such, the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (recognized an excess tax benefit of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.98 279.40 Td ($2.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 260.76 279.40 Td ( as a credit to income tax expense in the Consolidated Statements of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (Earnings in fiscal 2018. ) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 103.89 239.80 Td (om Continuing Operations and Earnings per) Tj ET Q
q 0 0 0 rg BT 314.26 239.80 Td ( Shar) Tj ET Q
q 0 0 0 rg BT 339.43 239.80 Td (e fr) Tj ET Q
q 0 0 0 rg BT 355.41 239.80 Td (om Continuing Operations) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (Fiscal 2018 earnings from continuing operations were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 290.42 213.40 Td ($1) Tj ET Q
q 0 0 0 rg BT 301.01 213.40 Td (14.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 354.79 213.40 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 361.20 213.40 Td ($1.79) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.95 213.40 Td ( per diluted share\) compared to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (earnings from continuing operations of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 224.43 200.20 Td ($188.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 289.21 200.20 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.63 200.20 Td ($4.16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.38 200.20 Td ( per diluted share\) for fiscal 2017. ) Tj ET Q
q 0 0 0 rg BT 472.29 200.20 Td (The decline in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (earnings from continuing operations is primarily due to the decline in income from operations as discussed above ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (partially of) Tj ET Q
q 0 0 0 rg BT 98.37 173.80 Td (fset by the tax benefit recorded due to the ) Tj ET Q
q 0 0 0 rg BT 283.57 173.80 Td (T) Tj ET Q
q 0 0 0 rg BT 289.52 173.80 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 338.40 173.80 Td (Act.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (Earnings from continuing operations were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 238.48 147.40 Td ($188.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.26 147.40 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.67 147.40 Td ($4.16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 334.42 147.40 Td ( per diluted share\) in fiscal 2017, up 457 percent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 74.13 134.20 Td ($33.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 133.41 134.20 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 139.83 134.20 Td ($0.75) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 164.58 134.20 Td ( per diluted share\) in fiscal 2016, primarily due to the increase in political advertising and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (retransmission consent revenues, the reduction in previously accrued contingent consideration payable, and the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (credit to income taxes. Fiscal 2016 earnings per share was impacted by the goodwill and trademark impairments ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (recorded by the Company) Tj ET Q
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 290.98 741.60 Td (T) Tj ET Q
q 0 0 0 rg BT 297.31 741.60 Td (axes) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (The loss from discontinued operations represents the operating results of Golf Magazine until the date it was sold ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (and the associated loss on its sale; the operating results of ) Tj ET Q
q 0 0 0 rg BT 306.10 702.00 Td (TIUK until the date it was sold and the associated loss on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td (its sale; and the operations of the properties that are held-for) Tj ET Q
q 0 0 0 rg BT 314.91 688.80 Td (-sale as of June�30, 2018, including ) Tj ET Q
q 0 0 0 rg BT 473.26 688.80 Td (TIME, Sports ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (Illustrated, Fortune, and Money brands and the Company�) Tj ET Q
q 0 0 0 rg BT 305.09 675.60 Td (s investment in ) Tj ET Q
q 0 0 0 rg BT 374.25 675.60 Td (V) Tj ET Q
q 0 0 0 rg BT 381.53 675.60 Td (iant ) Tj ET Q
q 0 0 0 rg BT 400.58 675.60 Td (T) Tj ET Q
q 0 0 0 rg BT 406.53 675.60 Td (echnology Inc.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.20 Td (The revenues and expenses for each of these properties have, along with associated income taxes, been removed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td (from continuing operations and reclassified into a single line item on the Consolidated Statements of Earnings titled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (loss from discontinued operations, net of income taxes for the five-month period from the time we acquired the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (properties through June�30, 2018, as follows:) Tj ET Q
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BT /F3 9.00 Tf ET
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q 0 0 0 rg BT 242.65 551.35 Td (e data\)) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.50 521.77 Td (................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.35 521.77 Td (\(250.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 465.80 521.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 143.50 476.77 Td (Loss before income taxes) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.25 476.77 Td (.......................................................) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 204.00 461.77 Td (..........................................................................) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 462.40 Td (significant acquisitions. Our core businesses�magazine advertising and television broadcasting�have been strong ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 449.20 Td (cash generators. Despite the introduction of many new technologies, we believe these businesses will continue to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 436.00 Td (have strong market appeal for the foreseeable future. ) Tj ET Q
q 0 0 0 rg BT 284.25 436.00 Td (As is true in any business, changes in the level of demand for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 422.80 Td (magazine and television advertising or our other products as well as changes in costs can have a significant ef) Tj ET Q
q 0 0 0 rg BT 532.42 422.80 Td (fect ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 409.60 Td (on operating results and cash flows.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 383.20 Td (Historically) Tj ET Q
q 0 0 0 rg BT 101.22 383.20 Td (, Meredith has been able to absorb normal business downturns without significant increases in debt and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 370.00 Td (management believes the Company will continue to do so. ) Tj ET Q
q 0 0 0 rg BT 310.08 370.00 Td (W) Tj ET Q
q 0 0 0 rg BT 319.58 370.00 Td (e expect cash on hand, internally generated cash flow) Tj ET Q
q 0 0 0 rg BT 553.74 370.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 356.80 Td (and available credit from financing agreements will provide adequate funds for operating and recurring cash needs ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 343.60 Td (\(e.g., working capital, capital expenditures, debt repayments, and cash dividends\) into the foreseeable future. ) Tj ET Q
q 0 0 0 rg BT 531.08 343.60 Td (At ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 330.40 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 330.40 Td (, we had up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 176.18 330.40 Td ($346.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 240.96 330.40 Td ( available under our revolving credit facility) Tj ET Q
q 0 0 0 rg BT 434.50 330.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 439.80 330.40 Td (While there are no ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 317.20 Td (guarantees that we will be able to replace current credit agreements when they expire, we expect to be able to do so.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 277.60 Td (SOURCES ) Tj ET Q
q 0 0 0 rg BT 104.10 277.60 Td (AND USES OF) Tj ET Q
q 0 0 0 rg BT 175.82 277.60 Td ( CASH) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 251.20 Td (Cash and cash equivalents increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 212.80 251.20 Td ($415.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 277.58 251.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 291.64 251.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.21 251.20 Td (; they decreased) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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/GS0 gs
q 0 0 0 rg BT 411.06 251.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.81 251.20 Td ($2.7 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
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/GS0 gs
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BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
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/GS0 gs
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BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
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/GS0 gs
q 0 0 0 rg BT 530.22 251.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 245.63 44.28 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 238.00 Td (increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 94.28 238.00 Td ($2.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 148.06 238.00 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 162.12 238.00 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 210.69 238.00 Td (. Over the three-year period, net cash provided by operating activities was used ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 224.80 Td (for acquisitions, debt repayments, dividends, stock repurchases, and capital investments.) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 100.42 198.40 Td (Activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 172.00 Td (The lar) Tj ET Q
q 0 0 0 rg BT 81.25 172.00 Td (gest single component of operating cash inflows is cash received from advertising customers. ) Tj ET Q
q 0 0 0 rg BT 494.26 172.00 Td (Advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 158.80 Td (accounted for 50 percent or more of total revenues in each of the past three fiscal years. Other sources of operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 145.60 Td (cash inflows include cash received from magazine circulation sales and other revenue-generating transactions such ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 132.40 Td (as retransmission consent fees, customer relationship marketing, brand licensing, and product sales. Operating cash ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 119.20 Td (outflows include payments to vendors and employees and payments of interest and income taxes. Our most ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 106.00 Td (significant vendor payments are for production and delivery of publications and promotional mailings, network ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 92.80 Td (programming fees, employee benefits \(including pension plans\), broadcast programming rights, and other services ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 79.60 Td (and supplies.) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (Cash provided by operating activities totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.78 741.40 Td ($151.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.56 741.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.62 741.40 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.19 741.40 Td ( compared with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.36 741.40 Td ($219.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.14 741.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.20 741.40 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 728.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 77.30 728.20 Td (The decrease in cash provided by operating activities is primarily due to the transaction, integration, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (severance-related costs associated with the ) Tj ET Q
q 0 0 0 rg BT 240.69 715.00 Td (T) Tj ET Q
q 0 0 0 rg BT 247.02 715.00 Td (ime acquisition.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (Cash provided by operating activities totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.78 688.60 Td ($219.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.56 688.60 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.62 688.60 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.19 688.60 Td ( compared with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.36 688.60 Td ($226.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.14 688.60 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.20 688.60 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 675.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 77.30 675.40 Td (The decrease in cash provided by operating activities is primarily due to the receipt, in fiscal 2016, of a net ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td ($43.5 million reflecting a mer) Tj ET Q
q 0 0 0 rg BT 181.46 662.20 Td (ger termination fee less mer) Tj ET Q
q 0 0 0 rg BT 304.04 662.20 Td (ger) Tj ET Q
q 0 0 0 rg BT 317.87 662.20 Td (-related expenses. ) Tj ET Q
q 0 0 0 rg BT 399.21 662.20 Td (This one-time receipt of cash is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (included in cash provided by operating activities in fiscal 2016.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (Changes in the Company�) Tj ET Q
q 0 0 0 rg BT 163.96 622.60 Td (s cash contributions to qualified defined benefit pension plans can have a significant ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 609.40 Td (fect on cash provided by operations. ) Tj ET Q
q 0 0 0 rg BT 220.35 609.40 Td (W) Tj ET Q
q 0 0 0 rg BT 229.85 609.40 Td (e did not make a pension contribution to our domestic plans in fiscal 2018. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (In connection with the sale of ) Tj ET Q
q 0 0 0 rg BT 182.98 596.20 Td (TIUK, we contributed �60 million to the IPC Plan defined benefit pension plan in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (U.K. During fiscal 2017, we contributed $10.0 million to the defined benefit pension plans, and during fiscal 2016 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (we made a $5.0 million contribution. ) Tj ET Q
q 0 0 0 rg BT 215.38 569.80 Td (W) Tj ET Q
q 0 0 0 rg BT 224.88 569.80 Td (e do not anticipate a required contribution for the domestic pension plans in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.57 556.60 Td (; however) Tj ET Q
q 0 0 0 rg BT 141.81 556.60 Td (, we are required to make a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 263.97 556.60 Td (�0.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.75 556.60 Td ( per month contribution to the IPC Plan. In the event ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (that on November�25, 2021, the IPC Plan has a funding deficit valuing its liabilities with a gilts plus 50 basis point ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (\(bps\) discount rate, the Company) Tj ET Q
q 0 0 0 rg BT 195.62 530.20 Td (, as the sponsor of the IPC Plan, will make a contribution equal to that funding ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (deficit. In the event that on November�25, 2025, the IPC Plan has a funding deficit valuing its liabilities with a gilts ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (flat discount rate, the Company will make a contribution equal to 50 percent of that funding deficit. In the event that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (on November�25, 2026, the IPC Plan has a funding deficit valuing its liabilities with a gilts flat discount rate, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (Company will make a contribution equal to 50 percent of that funding deficit. In the event that on November�25, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (2027, the IPC Plan has a funding deficit valuing its liabilities with a gilts flat discount rate, the Company will make ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (a contribution equal to that funding deficit. Contributions shall cease to be payable from the date that the IPC Plan ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (is confirmed to be fully funded.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (Investing ) Tj ET Q
q 0 0 0 rg BT 95.54 411.40 Td (Activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (Investing cash inflows generally include proceeds from the sale of assets or a business. Investing cash outflows ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (generally include payments for the acquisition of new businesses; investments; and additions to property) Tj ET Q
q 0 0 0 rg BT 509.66 371.80 Td (, plant, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (equipment.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (Net cash used in investing activities rose to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.07 332.20 Td ($2.6 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.79 332.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 307.85 332.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.42 332.20 Td ( from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.30 332.20 Td ($1) Tj ET Q
q 0 0 0 rg BT 393.90 332.20 Td (17.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.68 332.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.73 332.20 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 510.30 332.20 Td ( primarily ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (due to the acquisition of ) Tj ET Q
q 0 0 0 rg BT 158.86 319.00 Td (T) Tj ET Q
q 0 0 0 rg BT 165.19 319.00 Td (ime partially of) Tj ET Q
q 0 0 0 rg BT 232.81 319.00 Td (fset by cash received from the sales of ) Tj ET Q
q 0 0 0 rg BT 403.65 319.00 Td (TIUK and MXM.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (Net cash used in investing activities increased to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.27 292.60 Td ($1) Tj ET Q
q 0 0 0 rg BT 276.86 292.60 Td (17.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.65 292.60 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.70 292.60 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 393.27 292.60 Td ( compared to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 453.44 292.60 Td ($31.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 512.73 292.60 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.78 292.60 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 279.40 Td ( primarily due to the increased cash outflows for acquisitions of businesses in fiscal 2017.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (Financing ) Tj ET Q
q 0 0 0 rg BT 99.21 253.00 Td (Activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (Financing cash inflows generally include borrowings under debt agreements and proceeds from the exercise of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (common stock options issued under share-based compensation plans. Financing cash outflows generally include the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (repayment of long-term debt, repurchases of Company stock, the payment of dividends, and the payment of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (acquisition-related contingent consideration.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (Net cash provided by financing activities totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.96 160.60 Td ($2.9 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.69 160.60 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.74 160.60 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.31 160.60 Td (, compared with cash used in financing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (activities of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 104.37 147.40 Td ($104.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 169.15 147.40 Td ( in the prior year) Tj ET Q
q 0 0 0 rg BT 241.85 147.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 247.15 147.40 Td (The change in cash flows from financing activities is primarily due to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td ($2.5 billion of net debt issuances in fiscal 2018 compared to net debt issuances of $5.6 million in fiscal 2017. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (addition, $631.0 million of preferred equity was issued in the current year) Tj ET Q
q 0 0 0 rg BT 374.11 121.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 379.41 121.00 Td (The new debt and preferred equity ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (issuances were related to the acquisition of ) Tj ET Q
q 0 0 0 rg BT 241.32 107.80 Td (T) Tj ET Q
q 0 0 0 rg BT 247.65 107.80 Td (ime.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (Net cash used in financing activities totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 244.58 81.40 Td ($104.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.36 81.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.42 81.40 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.99 81.40 Td (, compared with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 445.91 81.40 Td ($193.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 510.69 81.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.75 81.40 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 68.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 77.30 68.20 Td (The change in cash flows from financing activities is primarily due to a net $5.6 million of debt issuances in ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (At ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 63.75 715.20 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.16 715.20 Td (, total long-term debt outstanding was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 294.72 715.20 Td ($3.2 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.44 715.20 Td ( consisting of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 407.47 715.20 Td ($1.8 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.19 715.20 Td ( under a variable-rate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (term loan and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 113.23 702.00 Td ($1.4 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.95 702.00 Td ( in fixed-rate unsecured senior notes.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (The variable-rate credit facility includes the ) Tj ET Q
q 0 0 0 rg BT 245.26 675.60 Td (T) Tj ET Q
q 0 0 0 rg BT 251.21 675.60 Td (erm Loan B with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.81 675.60 Td ($1.8 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.53 675.60 Td ( of aggregate principal and a five-year ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.40 Td (senior secured revolving credit facility of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 234.49 662.40 Td ($350.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 299.27 662.40 Td (, of which ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.31 662.40 Td ($175.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.09 662.40 Td ( is available for the issuance of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.20 Td (letters of credit and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.96 649.20 Td ($35.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 197.24 649.20 Td ( of swingline loans. On June 30, 2018 there were no borrowings outstanding under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td (the revolving credit facility) Tj ET Q
q 0 0 0 rg BT 169.32 636.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 174.63 636.00 Td (There were $3.4 million of standby letters of credit issued under the revolving credit ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (facility resulting in availability of $346.6 million at June 30, 2018. ) Tj ET Q
q 0 0 0 rg BT 345.53 622.80 Td (The ) Tj ET Q
q 0 0 0 rg BT 365.19 622.80 Td (T) Tj ET Q
q 0 0 0 rg BT 371.14 622.80 Td (erm Loan B matures in 2025 and amortizes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (at 1.0 percent per annum in equal quarterly installments until the final maturity date, at which time the remaining ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (principal and interest are due and payable. ) Tj ET Q
q 0 0 0 rg BT 238.55 596.40 Td (The interest rate under the ) Tj ET Q
q 0 0 0 rg BT 356.55 596.40 Td (T) Tj ET Q
q 0 0 0 rg BT 362.50 596.40 Td (erm Loan B is based on LIBOR plus ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.26 596.40 Td (3.0 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.20 Td (percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.37 583.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 87.67 583.20 Td (The ) Tj ET Q
q 0 0 0 rg BT 107.32 583.20 Td (T) Tj ET Q
q 0 0 0 rg BT 113.27 583.20 Td (erm Loan B bore interest at a rate of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 275.45 583.20 Td (5.09 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 329.82 583.20 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.26 583.20 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.67 583.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 409.97 583.20 Td (The revolving credit facility has a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (commitment fee ranging from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 185.01 570.00 Td (0.375 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 244.88 570.00 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 258.94 570.00 Td (0.500 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.80 570.00 Td ( of the unused commitment. ) Tj ET Q
q 0 0 0 rg BT 444.06 570.00 Td (All interest rates and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.80 Td (commitment fees associated with this variable-rate revolving credit facility are derived from a leverage-based ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (pricing grid. ) Tj ET Q
q 0 0 0 rg BT 106.93 543.60 Td (The 2026 Senior Notes have an aggregate principal amount of $1.4 billion maturing in 2026 with an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (interest rate of 6.875 percent per annum. ) Tj ET Q
q 0 0 0 rg BT 230.93 530.40 Td (T) Tj ET Q
q 0 0 0 rg BT 236.88 530.40 Td (otal outstanding principal is due at the final maturity date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 504.00 Td (Prior to the acquisition of ) Tj ET Q
q 0 0 0 rg BT 164.98 504.00 Td (T) Tj ET Q
q 0 0 0 rg BT 171.31 504.00 Td (ime on January�31, 2018, we had $674.4 million of debt outstanding, which was repaid ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td (with the proceeds from the new credit agreements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (Our new credit agreements, entered into on January�31, 2018, include a financial covenant that is applicable based ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.20 Td (on a certain utilization level of the revolving credit line. Failure to comply with this covenant could result in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 438.00 Td (debt becoming payable on demand. ) Tj ET Q
q 0 0 0 rg BT 208.64 438.00 Td (The covenant did not apply at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 342.43 438.00 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 403.85 438.00 Td (, as we were below the specified ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.80 Td (utilization level on the revolving credit line.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.40 Td (Pr) Tj ET Q
q 0 0 0 rg BT 61.40 398.40 Td (eferr) Tj ET Q
q 0 0 0 rg BT 84.40 398.40 Td (ed Stock) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 372.00 Td (On January�31, 2018, in exchange for a preferred equity investment of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 362.17 372.00 Td ($650.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.95 372.00 Td (, Meredith issued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.77 372.00 Td (650,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 541.52 372.00 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (shares of perpetual convertible redeemable non-voting Series ) Tj ET Q
q 0 0 0 rg BT 321.54 358.80 Td (A) Tj ET Q
q 0 0 0 rg BT 328.88 358.80 Td ( preferred stock \(Series�) Tj ET Q
q 0 0 0 rg BT 433.33 358.80 Td (A) Tj ET Q
q 0 0 0 rg BT 440.67 358.80 Td ( preferred stock\) as well as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.60 Td (detachable warrants to purchase up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 218.60 345.60 Td (1,625,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 262.60 345.60 Td ( shares of Meredith's common stock with an exercise price of $1.00 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.40 Td (per share and options to purchase up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 224.73 332.40 Td (875,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 260.48 332.40 Td ( shares of Meredith's common stock with an exercise price of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.20 Td ($70.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 80.25 319.20 Td ( per share.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.80 Td (The Series�) Tj ET Q
q 0 0 0 rg BT 98.88 292.80 Td (A) Tj ET Q
q 0 0 0 rg BT 106.21 292.80 Td ( preferred stock is non-callable during the first three years after issuance provided that Meredith may) Tj ET Q
q 0 0 0 rg BT 549.30 292.80 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (at its option, subject to the terms of the preferred stock, redeem all or a portion of the Series�) Tj ET Q
q 0 0 0 rg BT 455.96 279.60 Td (A) Tj ET Q
q 0 0 0 rg BT 463.30 279.60 Td ( preferred stock in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.40 Td (cash during such three-year period, if Meredith declares as a dividend and pays a redemption premium in cash as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.20 Td (provided in the Statement of Designation of Series�) Tj ET Q
q 0 0 0 rg BT 274.84 253.20 Td (A) Tj ET Q
q 0 0 0 rg BT 282.18 253.20 Td ( preferred stock at an amount equal to 6 percent of the ) Tj ET Q
q 0 0 0 rg BT 522.25 253.20 Td (Accrued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 240.00 Td (Stated ) Tj ET Q
q 0 0 0 rg BT 80.05 240.00 Td (V) Tj ET Q
q 0 0 0 rg BT 86.77 240.00 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 164.97 240.00 Td (A) Tj ET Q
q 0 0 0 rg BT 172.31 240.00 Td ( preferred stock as of the redemption date plus an amount, if any) Tj ET Q
q 0 0 0 rg BT 455.36 240.00 Td (, equal to dividends to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.80 Td (the third year present valued at a discount rate based on U.S. ) Tj ET Q
q 0 0 0 rg BT 319.22 226.80 Td (T) Tj ET Q
q 0 0 0 rg BT 325.55 226.80 Td (reasury notes with a maturity closest to the date that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.60 Td (is three years after the issuance date, plus 50 basis points. ) Tj ET Q
q 0 0 0 rg BT 305.48 213.60 Td (The ) Tj ET Q
q 0 0 0 rg BT 324.73 213.60 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 394.78 213.60 Td (V) Tj ET Q
q 0 0 0 rg BT 401.50 213.60 Td (alue is an amount equal to: \(i\) the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.40 Td (Stated ) Tj ET Q
q 0 0 0 rg BT 80.05 200.40 Td (V) Tj ET Q
q 0 0 0 rg BT 86.77 200.40 Td (alue \($1,000 multiplied by the number of shares of Series�) Tj ET Q
q 0 0 0 rg BT 341.85 200.40 Td (A) Tj ET Q
q 0 0 0 rg BT 349.19 200.40 Td ( preferred stock outstanding\); plus \(ii\) any ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.20 Td (accrued and unpaid dividends thereof \(including any accumulated dividends\).) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.80 Td (From and after the third anniversary of the issuance date of the Series�) Tj ET Q
q 0 0 0 rg BT 358.20 160.80 Td (A) Tj ET Q
q 0 0 0 rg BT 365.54 160.80 Td ( preferred stock, Meredith may redeem all ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.60 Td (or a portion of the Series�) Tj ET Q
q 0 0 0 rg BT 161.20 147.60 Td (A) Tj ET Q
q 0 0 0 rg BT 168.53 147.60 Td ( preferred stock upon payment in cash for an amount equal to \(i\) the Call Premium ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.40 Td (\(defined below\), plus \(ii\) the ) Tj ET Q
q 0 0 0 rg BT 178.30 134.40 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 248.35 134.40 Td (V) Tj ET Q
q 0 0 0 rg BT 255.07 134.40 Td (alue of the Series ) Tj ET Q
q 0 0 0 rg BT 333.27 134.40 Td (A) Tj ET Q
q 0 0 0 rg BT 340.61 134.40 Td ( preferred stock as of the redemption date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 108.00 Td (The Call Premium is an amount equal to the dif) Tj ET Q
q 0 0 0 rg BT 259.06 108.00 Td (ference of \(a\) \(i\) the ) Tj ET Q
q 0 0 0 rg BT 349.76 108.00 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 419.81 108.00 Td (V) Tj ET Q
q 0 0 0 rg BT 426.53 108.00 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 504.73 108.00 Td (A) Tj ET Q
q 0 0 0 rg BT 512.06 108.00 Td ( preferred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.80 Td (stock as of the redemption date, multiplied by \(ii\) \(A\) if such redemption occurs during the fourth or fifth year after ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.60 Td (issuance, 106 percent, \(B\) if such redemption occurs during the sixth year after issuance, 103 percent, and \(C\) if ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.40 Td (such redemption occurs after the sixth year after issuance, 100 percent, minus \(b\) the ) Tj ET Q
q 0 0 0 rg BT 425.70 68.40 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 495.75 68.40 Td (V) Tj ET Q
q 0 0 0 rg BT 502.48 68.40 Td (alue as of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.20 Td (redemption date.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (45) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (In connection with any partial redemption by Meredith, Meredith may not redeem Series�) Tj ET Q
q 0 0 0 rg BT 442.83 741.40 Td (A) Tj ET Q
q 0 0 0 rg BT 450.17 741.40 Td ( preferred stock in an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (amount less than $50 million) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 177.71 728.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 180.46 728.20 Td (of the ) Tj ET Q
q 0 0 0 rg BT 207.96 728.20 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 278.01 728.20 Td (V) Tj ET Q
q 0 0 0 rg BT 284.73 728.20 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 362.93 728.20 Td (A) Tj ET Q
q 0 0 0 rg BT 370.27 728.20 Td ( preferred stock nor ef) Tj ET Q
q 0 0 0 rg BT 467.80 728.20 Td (fect any redemption ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (resulting in less than $100 million of the ) Tj ET Q
q 0 0 0 rg BT 230.26 715.00 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 300.31 715.00 Td (V) Tj ET Q
q 0 0 0 rg BT 307.04 715.00 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 385.24 715.00 Td (A) Tj ET Q
q 0 0 0 rg BT 392.57 715.00 Td ( preferred stock remaining ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (outstanding.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (From and after the seventh anniversary of the issuance date, the holders of the Series�) Tj ET Q
q 0 0 0 rg BT 425.10 675.40 Td (A) Tj ET Q
q 0 0 0 rg BT 432.44 675.40 Td ( preferred stock may elect to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (convert some or all of the Series�) Tj ET Q
q 0 0 0 rg BT 194.49 662.20 Td (A) Tj ET Q
q 0 0 0 rg BT 201.82 662.20 Td ( preferred stock into Meredith common stock at a ratio based on its ) Tj ET Q
q 0 0 0 rg BT 499.05 662.20 Td (Accrued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (Stated ) Tj ET Q
q 0 0 0 rg BT 80.05 649.00 Td (V) Tj ET Q
q 0 0 0 rg BT 86.77 649.00 Td (alue divided by the volume weighted average price of Meredith common stock for the 30 trading days ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (immediately preceding the written notice of conversion.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (Contractual Obligations) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (The following table summarizes our principal contractual obligations as of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.13 583.00 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 442.54 583.00 Td (:) Tj ET Q
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49.5 559.3 m
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 544.3 m
393.5 544.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
393.5 559.3 m
401.5 559.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 559.3 m
449.5 559.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 544.3 m
449.5 544.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
449.5 559.3 m
457.5 559.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
457.5 559.3 m
505.5 559.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
457.5 544.3 m
505.5 544.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
505.5 559.3 m
513.5 559.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
513.5 559.3 m
561.5 559.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
513.5 544.3 m
561.5 544.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 514.3 m
64.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
64.5 514.3 m
289.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
289.5 514.3 m
337.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 514.3 m
345.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 514.3 m
393.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
393.5 544.3 m
401.5 544.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
393.5 514.3 m
401.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 514.3 m
449.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
449.5 544.3 m
457.5 544.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
449.5 514.3 m
457.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
457.5 514.3 m
505.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
505.5 544.3 m
513.5 544.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
505.5 514.3 m
513.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
513.5 514.3 m
561.5 514.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 341.29999999999995 m
393.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 341.29999999999995 m
449.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 341.29999999999995 m
64.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 323.29999999999995 m
64.5 323.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
64.5 341.29999999999995 m
289.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
64.5 323.29999999999995 m
289.5 323.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
289.5 341.29999999999995 m
337.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
289.5 323.29999999999995 m
337.5 323.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 341.29999999999995 m
345.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 323.29999999999995 m
345.5 323.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 341.29999999999995 m
393.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 323.29999999999995 m
393.5 323.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
393.5 341.29999999999995 m
401.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
393.5 323.29999999999995 m
401.5 323.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 341.29999999999995 m
449.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 323.29999999999995 m
449.5 323.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
449.5 341.29999999999995 m
457.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
449.5 323.29999999999995 m
457.5 323.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
457.5 341.29999999999995 m
505.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
457.5 323.29999999999995 m
505.5 323.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
505.5 341.29999999999995 m
513.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
505.5 323.29999999999995 m
513.5 323.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
513.5 341.29999999999995 m
561.5 341.29999999999995 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
513.5 323.29999999999995 m
561.5 323.29999999999995 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 400.35 548.98 Td (Payments Due by Period) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 518.98 Td (Contractual obligations) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 312.10 518.98 Td (T) Tj ET Q
q 0 0 0 rg BT 317.85 518.98 Td (otal) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 349.15 530.98 Td (Less than) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 363.05 518.98 Td (1 ) Tj ET Q
q 0 0 0 rg BT 370.18 518.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 376.29 518.98 Td (ear) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 432.65 530.98 Td (1-3) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 422.10 518.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 428.21 518.98 Td (ears) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 488.65 530.98 Td (4-5) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 478.10 518.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 484.21 518.98 Td (ears) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 527.90 530.98 Td (After) Tj ET Q
q 0 0 0 rg BT 550.48 530.98 Td ( 5) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 534.10 518.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 540.21 518.98 Td (ears) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 504.65 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 489.17 Td (T) Tj ET Q
q 0 0 0 rg BT 58.33 489.17 Td (otal long-term debt) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 143.00 489.17 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.00 489.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 300.25 489.17 Td (3,195.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 348.00 489.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.00 489.17 Td (18.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.00 489.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.00 489.17 Td (36.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 460.00 489.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.00 489.17 Td (36.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 516.00 489.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.25 489.17 Td (3,105.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 471.22 Td (Debt interest) Tj ET Q
BT /F2 11.00 Tf ET
BT /F2 7.15 Tf ET
q 0 0 0 rg BT 108.51 476.21 Td ( ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 110.30 476.21 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 115.50 471.17 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 300.25 471.22 Td (1,352.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 471.22 Td (187.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.50 471.22 Td (371.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.50 471.22 Td (368.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 471.22 Td (425.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 453.22 Td (Series ) Tj ET Q
q 0 0 0 rg BT 81.03 453.22 Td (A) Tj ET Q
q 0 0 0 rg BT 88.36 453.22 Td ( preferred stock dividends) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 202.91 453.22 Td ( ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 205.66 458.21 Td (2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 211.75 453.17 Td (...........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.50 453.22 Td (369.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.00 453.22 Td (55.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.50 453.22 Td (1) Tj ET Q
q 0 0 0 rg BT 426.00 453.22 Td (18.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.50 453.22 Td (153.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 453.22 Td (41.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 435.22 Td (Broadcast rights and network programming) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 244.75 435.17 Td (...............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.50 435.22 Td (366.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 435.22 Td (162.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.50 435.22 Td (196.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.50 435.22 Td (7.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 435.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 417.22 Td (Contingent consideration ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 165.65 422.21 Td (3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.50 417.17 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.00 417.22 Td (25.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.00 417.22 Td (24.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.30 417.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.50 417.22 Td (0.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 417.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 400.22 Td (Operating leases) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 126.50 400.17 Td (..........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.50 400.22 Td (824.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.00 400.22 Td (72.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.50 400.22 Td (134.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.50 400.22 Td (126.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 400.22 Td (491.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 382.22 Td (Purchase obligations and other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 189.75 382.17 Td (...................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.50 382.22 Td (1) Tj ET Q
q 0 0 0 rg BT 314.00 382.22 Td (14.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.00 382.22 Td (60.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.00 382.22 Td (40.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.00 382.22 Td (13.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.50 382.22 Td (0.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 364.22 Td (Benefit plans) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 112.75 364.17 Td (...............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.50 364.22 Td (401.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.00 364.22 Td (43.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.00 364.22 Td (86.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.00 364.22 Td (69.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 364.22 Td (201.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 346.22 Td (Liability to ) Tj ET Q
q 0 0 0 rg BT 103.74 346.22 Td (T) Tj ET Q
q 0 0 0 rg BT 110.07 346.22 Td (ime ) Tj ET Q
q 0 0 0 rg BT 129.12 346.22 Td (W) Tj ET Q
q 0 0 0 rg BT 138.62 346.22 Td (arner ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 163.96 351.21 Td (4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 167.75 346.17 Td (...........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.00 346.22 Td (26.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.00 346.22 Td (26.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.30 346.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 490.30 346.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 346.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 328.22 Td (T) Tj ET Q
q 0 0 0 rg BT 57.95 328.22 Td (otal contractual cash obligations) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.00 328.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 300.25 328.22 Td (6,675.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 348.00 328.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 328.22 Td (650.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.00 328.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.50 328.22 Td (983.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 460.00 328.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.50 328.22 Td (775.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 516.00 328.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.25 328.22 Td (4,265.6) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 308.55 Td (1) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 308.55 Td (Debt inter) Tj ET Q
q 0 0 0 rg BT 103.58 308.55 Td (est r) Tj ET Q
q 0 0 0 rg BT 118.99 308.55 Td (epr) Tj ET Q
q 0 0 0 rg BT 130.65 308.55 Td (esents semi-annual inter) Tj ET Q
q 0 0 0 rg BT 218.31 308.55 Td (est payments due on fixed-rate unsecur) Tj ET Q
q 0 0 0 rg BT 358.69 308.55 Td (ed senior notes and estimated inter) Tj ET Q
q 0 0 0 rg BT 484.59 308.55 Td (est payments on) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 299.55 Td (variable-rate term loan outstanding at June 30, 2018. Inter) Tj ET Q
q 0 0 0 rg BT 280.31 299.55 Td (est payments on variable-rate debt is estimated using the inter) Tj ET Q
q 0 0 0 rg BT 504.19 299.55 Td (est rate as of) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 290.55 Td (June 30, 2018.) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 276.55 Td (2) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 276.55 Td (Series�) Tj ET Q
q 0 0 0 rg BT 91.16 276.55 Td (A) Tj ET Q
q 0 0 0 rg BT 96.50 276.55 Td ( pr) Tj ET Q
q 0 0 0 rg BT 106.50 276.55 Td (eferr) Tj ET Q
q 0 0 0 rg BT 123.66 276.55 Td (ed stock dividends r) Tj ET Q
q 0 0 0 rg BT 195.06 276.55 Td (epr) Tj ET Q
q 0 0 0 rg BT 206.72 276.55 Td (esent quarterly payments based on a fixed inter) Tj ET Q
q 0 0 0 rg BT 377.10 276.55 Td (est rate in years one thr) Tj ET Q
q 0 0 0 rg BT 462.51 276.55 Td (ough thr) Tj ET Q
q 0 0 0 rg BT 492.93 276.55 Td (ee and on) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 267.55 Td (variable rates estimated using LIBOR as of June�30, 2018, in years four thr) Tj ET Q
q 0 0 0 rg BT 339.06 267.55 Td (ough six. While it is not certain when the Series�) Tj ET Q
q 0 0 0 rg BT 512.54 267.55 Td (A) Tj ET Q
q 0 0 0 rg BT 517.87 267.55 Td ( pr) Tj ET Q
q 0 0 0 rg BT 527.88 267.55 Td (eferr) Tj ET Q
q 0 0 0 rg BT 545.04 267.55 Td (ed) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 258.55 Td (stock will be settled, the table assumes a conversion at the beginning of year seven.) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 244.55 Td (3) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 244.55 Td (While it is not certain if or when these contingent acquisition payments will be made, we have included the payments in the table based) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 235.55 Td (on our best estimates of the amounts and dates when the contingencies may be r) Tj ET Q
q 0 0 0 rg BT 355.29 235.55 Td (esolved.) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 221.55 Td (4) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 221.55 Td (Repr) Tj ET Q
q 0 0 0 rg BT 84.16 221.55 Td (esents certain obligations T) Tj ET Q
q 0 0 0 rg BT 183.41 221.55 Td (ime had with T) Tj ET Q
q 0 0 0 rg BT 236.67 221.55 Td (ime W) Tj ET Q
q 0 0 0 rg BT 258.58 221.55 Td (arner at the time T) Tj ET Q
q 0 0 0 rg BT 325.58 221.55 Td (ime spun-off as a separate public company) Tj ET Q
q 0 0 0 rg BT 479.56 221.55 Td (. These liabilities) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 212.55 Td (primarily r) Tj ET Q
q 0 0 0 rg BT 106.42 212.55 Td (elate to a T) Tj ET Q
q 0 0 0 rg BT 146.34 212.55 Td (ax Matters ) Tj ET Q
q 0 0 0 rg BT 187.17 212.55 Td (Agr) Tj ET Q
q 0 0 0 rg BT 200.33 212.55 Td (eement in which the Company will be r) Tj ET Q
q 0 0 0 rg BT 340.73 212.55 Td (equir) Tj ET Q
q 0 0 0 rg BT 359.39 212.55 Td (ed to indemnify T) Tj ET Q
q 0 0 0 rg BT 421.63 212.55 Td (ime W) Tj ET Q
q 0 0 0 rg BT 443.55 212.55 Td (arner for open tax positions at) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 203.55 Td (the date of the spin-off. While it is not certain when these payments will be made, we have included the payments in the table based on) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 67.00 194.55 Td (our best estimates of the amounts and dates when the indemnifications may be r) Tj ET Q
q 0 0 0 rg BT 354.38 194.55 Td (esolved.) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 163.40 Td (Due to uncertainty with respect to the timing of future cash flows associated with unrecognized tax benefits at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 150.20 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 150.20 Td (, the Company is unable to make reasonably reliable estimates of the period of cash settlement. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 137.00 Td (Therefore, $58.9 million of unrecognized tax benefits have been excluded from the contractual obligations table ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 123.80 Td (above. See ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 100.40 123.80 Td (Note�8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 130.03 123.80 Td ( to the Consolidated Financial Statements for further discussion of income taxes.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 97.40 Td (Purchase obligations represent legally binding agreements to purchase goods and services that specify all significant ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 84.20 Td (terms. Outstanding purchase orders, which represent authorizations to purchase goods and services but are not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 71.00 Td (legally binding, are not included in purchase obligations. ) Tj ET Q
q 0 0 0 rg BT 302.74 71.00 Td (W) Tj ET Q
q 0 0 0 rg BT 312.24 71.00 Td (e believe current cash balances, cash generated by future ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 57.80 Td (operating activities, and cash available under current credit agreements will be suf) Tj ET Q
q 0 0 0 rg BT 411.43 57.80 Td (ficient to meet our contractual ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (46) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (cash obligations and other operating cash requirements for the foreseeable future. Projections of future cash flows ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (are, however) Tj ET Q
q 0 0 0 rg BT 106.36 728.20 Td (, subject to substantial uncertainty as discussed throughout MD&A) Tj ET Q
q 0 0 0 rg BT 400.57 728.20 Td ( and particularly in ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 486.71 728.20 Td (Item�1A-Risk ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (Factors ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.97 715.00 Td (beginning on page�12. Debt agreements may be renewed or refinanced if we determine it is advantageous ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (to do so. ) Tj ET Q
q 0 0 0 rg BT 90.14 701.80 Td (W) Tj ET Q
q 0 0 0 rg BT 99.64 701.80 Td (e also have commitments in the form of standby letters of credit totaling $3.4 million that ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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495.86 709.43 10.38 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 495.86 701.80 Td (ex) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.24 701.80 Td (pire within ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (one year) Tj ET Q
q 0 0 0 rg BT 86.95 688.60 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (Shar) Tj ET Q
q 0 0 0 rg BT 72.42 662.20 Td (e Repur) Tj ET Q
q 0 0 0 rg BT 109.80 662.20 Td (chase Pr) Tj ET Q
q 0 0 0 rg BT 149.61 662.20 Td (ogram) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 635.80 Td (e have maintained a program of Company share repurchases for 30 years. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 397.93 635.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 446.50 635.80 Td (, we spent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 493.54 635.80 Td ($31.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 552.83 635.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (to repurchase an aggregate of) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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q 0 0 0 rg BT 179.49 622.60 Td ( 520,000 shares ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.98 622.60 Td (of Meredith common and class�B stock at then current market prices. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 609.40 Td (e spent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 93.10 609.40 Td ($53.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 152.38 609.40 Td ( to repurchase an aggregate of 941,000 shares in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.42 609.40 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.99 609.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.37 609.40 Td ($31.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.65 609.40 Td ( to repurchase ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (an aggregate of 651,000 shares in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 200.59 596.20 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.16 596.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 569.80 Td (e expect to continue repurchasing shares from time to time subject to market conditions. In May 2014, the Board ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (of Directors authorized the repurchase of up to $100.0 million in additional shares of the Company�) Tj ET Q
q 0 0 0 rg BT 488.06 556.60 Td (s stock through ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (public and private transactions.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (As of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 76.89 517.00 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.30 517.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 143.80 517.00 Td ($56.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 203.08 517.00 Td ( remained available under the current authorization for future repurchases. See) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 548.51 517.00 Td ( ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (Item�5-Issuer Pur) Tj ET Q
q 0 0 0 rg BT 127.19 503.80 Td (chases of Equity Securities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 245.41 503.80 Td ( of this Form�10-K for detailed information on share repurchases during ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (the quarter ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 129.10 490.60 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 190.51 490.60 Td (. Pursuant to the terms of our new debt facilities and our Series�) Tj ET Q
q 0 0 0 rg BT 469.73 490.60 Td (A) Tj ET Q
q 0 0 0 rg BT 477.07 490.60 Td ( preferred stock, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (we may be subject to certain limitations with respect to our ability to conduct share repurchases, as further ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (discussed under Part�I, Item�1A, ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 194.19 464.20 Td (Risk Factors) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.10 464.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (Dividends) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (Meredith has paid quarterly dividends continuously since 1947 and we have increased our dividend annually for 25 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (consecutive years. ) Tj ET Q
q 0 0 0 rg BT 133.18 398.20 Td (The last increase occurred in January 2018 when the Board of Directors approved the quarterly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (dividend of 54.50 cents per share ef) Tj ET Q
q 0 0 0 rg BT 207.11 385.00 Td (fective with the dividend payable in March�2018. Given the current number of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (shares outstanding, the increase will result in additional dividend payments of approximately $4.6 million annually) Tj ET Q
q 0 0 0 rg BT 555.18 371.80 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (In addition, we issued detachable warrants in our third fiscal quarter) Tj ET Q
q 0 0 0 rg BT 349.21 358.60 Td (, which receive dividends at the rate of a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (common stockholder) Tj ET Q
q 0 0 0 rg BT 141.96 345.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 146.85 345.40 Td (At our current dividend rate, we will incur $3.5 million of annual dividend payments in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (conjunction with these detachable warrants.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (Dividend payments on common and class B stock totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.09 305.80 Td ($98.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.38 305.80 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.79 305.80 Td ($2.130) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.04 305.80 Td ( per share, in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.60 305.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 520.17 305.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (compared with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 118.42 292.60 Td ($91.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 177.70 292.60 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 195.12 292.60 Td ($2.030) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 225.37 292.60 Td ( per share, in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.93 292.60 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 333.50 292.60 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 357.63 292.60 Td ($86.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.91 292.60 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.32 292.60 Td ($1.905) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.57 292.60 Td ( per share, in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.13 292.60 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 279.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (Our newly designated Series�) Tj ET Q
q 0 0 0 rg BT 178.30 253.00 Td (A) Tj ET Q
q 0 0 0 rg BT 185.64 253.00 Td ( preferred stock accrues an annual dividend at either \(a\) to the extent paid in cash, in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (an amount equal to the Cash Dividend ) Tj ET Q
q 0 0 0 rg BT 220.77 239.80 Td (Annual Rate \(as set forth in the table below\), multiplied by the Stated ) Tj ET Q
q 0 0 0 rg BT 529.11 239.80 Td (V) Tj ET Q
q 0 0 0 rg BT 535.84 239.80 Td (alue ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (\(equal to the number of shares of Series ) Tj ET Q
q 0 0 0 rg BT 227.17 226.60 Td (A) Tj ET Q
q 0 0 0 rg BT 234.51 226.60 Td (�preferred stock outstanding multiplied by $1,000\) or \(b\) if dividends are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (not declared and paid in cash, we will deliver additional shares of Series�) Tj ET Q
q 0 0 0 rg BT 370.12 213.40 Td (A) Tj ET Q
q 0 0 0 rg BT 377.46 213.40 Td ( preferred stock, in kind, by issuing a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (number of shares equal to \(i\) the ) Tj ET Q
q 0 0 0 rg BT 195.09 200.20 Td (Accrued Dividend ) Tj ET Q
q 0 0 0 rg BT 278.18 200.20 Td (Annual Rate \(as set forth in the table below\), multiplied by the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (Stated ) Tj ET Q
q 0 0 0 rg BT 80.05 187.00 Td (V) Tj ET Q
q 0 0 0 rg BT 86.77 187.00 Td (alue for all outstanding shares of Series�) Tj ET Q
q 0 0 0 rg BT 262.42 187.00 Td (A) Tj ET Q
q 0 0 0 rg BT 269.76 187.00 Td ( preferred stock, divided by \(ii\) $1,000.) Tj ET Q
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 451.68 81.22 Td (100 bps) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 332.85 715.00 Td (fect our ability to continue to pay regular dividends ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 146.43 649.00 Td (, plant, and equipment totaled ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (of business. In fiscal 2018, the Company incurred $6.3 million related to the spectrum repack required by the FCC. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 609.40 Td (e anticipate spending an additional $1) Tj ET Q
q 0 0 0 rg BT 225.57 609.40 Td (1.5 million in fiscal 2019 to complete the conversion. ) Tj ET Q
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q 0 0 0 rg BT 472.86 609.40 Td (e expect that the ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 138.74 583.00 Td (, we cannot currently predict the ef) Tj ET Q
q 0 0 0 rg BT 292.17 583.00 Td (fect of the repacking, whether the fund will be suf) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 139.63 556.60 Td (e have no material commitments for future capital expenditures. ) Tj ET Q
q 0 0 0 rg BT 424.11 556.60 Td (W) Tj ET Q
q 0 0 0 rg BT 433.61 556.60 Td (e expect funds for future ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 355.51 543.40 Td (, borrowings under credit agreements.) Tj ET Q
BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 93.38 477.40 Td (s consolidated financial statements are prepared in accordance with U.S. GAAP) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 125.54 424.60 Td (ficult to make and subjective in nature. ) Tj ET Q
q 0 0 0 rg BT 299.46 424.60 Td (W) Tj ET Q
q 0 0 0 rg BT 308.96 424.60 Td (e base our estimates on historical experience, recent ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 431.62 411.40 Td (W) Tj ET Q
q 0 0 0 rg BT 441.12 411.40 Td (e reevaluate our estimates ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 244.15 398.20 Td (, may vary from these estimates.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 159.52 279.40 Td (TIONS) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (their acquisition date fair values. Estimates of fair value require judgments about future events and uncertainties. In ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 219.03 213.40 Td (The estimation of fair value requires significant judgments related to future ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 168.73 173.80 Td (, and growth rates. ) Tj ET Q
q 0 0 0 rg BT 252.84 173.80 Td (The estimates and assumptions used to determine the preliminary ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (estimated fair value assigned to each class of assets and liabilities, as well as asset lives, may have a material impact ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (to the Company's consolidated financial statements, and were based upon assumptions believed to be reasonable but ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (that are inherently uncertain. ) Tj ET Q
q 0 0 0 rg BT 178.99 134.20 Td (Third-party valuation specialists have been engaged to assist in the valuation of certain ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 128.92 728.20 Td (T) Tj ET Q
q 0 0 0 rg BT 135.26 728.20 Td (ime.) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 112.96 688.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 115.10 688.60 Td (AND INT) Tj ET Q
q 0 0 0 rg BT 160.43 688.60 Td (ANGIBLE ) Tj ET Q
q 0 0 0 rg BT 213.31 688.60 Td (ASSETS) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (annually for impairment. ) Tj ET Q
q 0 0 0 rg BT 161.80 649.00 Td (At ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.52 649.00 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.94 649.00 Td (58 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.05 649.00 Td ( of) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 536.96 649.00 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 635.80 Td (s total assets, with ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.90 635.80 Td ( in the national media segment and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.00 635.80 Td ($907.1 million) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (segment. ) Tj ET Q
q 0 0 0 rg BT 91.96 622.60 Td (The impairment analysis of these assets is considered critical because of their significance to the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (and our national media and local media segments.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (Management is required to evaluate goodwill and intangible assets with indefinite lives for impairment on an annual ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (basis or when events occur or circumstances change that would indicate the carrying value exceeds the fair value. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (reviewing goodwill for impairment, the Company may first assess qualitative factors to determine whether it is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (more likely than not that the fair value of a reporting unit is less than its carrying amount.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (Fair value is determined using a discounted cash flow model which requires us to estimate the future cash flows ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 421.85 503.80 Td (These estimates depend upon ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (various internal estimates, and a variety of external sources and are consistent with the assumptions used in both our ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (future cash flow projections can vary within a range of outcomes. Changes in key assumptions about the national ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (char) Tj ET Q
q 0 0 0 rg BT 68.73 411.40 Td (ge. See ) Tj ET Q
BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 341.60 411.40 Td (fect our assumptions.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (At May�31, 2018, the date that management last performed our annual review of impairment of goodwill and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (intangible assets, management performed a quantitative goodwill impairment test for the national media reporting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (unit, which involves comparing the fair value of the reporting unit to its carrying value. For other indefinite-lived ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (intangible assets, fair values were calculated using the discounted cash flow model. For the goodwill impairment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (test, the Company selected equal weighting of the discounted cash flow and guideline public company methods as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (the valuation approach to estimate fair value. ) Tj ET Q
q 0 0 0 rg BT 250.78 319.00 Td (The fair value of the national media reporting unit exceeded its net ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (assets by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 92.16 305.80 Td (15 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.28 305.80 Td (. Holding other assumptions constant, a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.87 305.80 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.37 305.80 Td (-basis point increase in the discount rate would ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (result in an estimated fair value that exceeds net assets by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 306.27 292.60 Td (9 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.89 292.60 Td (. Holding other assumptions constant, a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 523.48 292.60 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.98 292.60 Td (-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (basis point decrease in the terminal growth rate would result in an estimated fair value that exceeds net assets by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 547.28 279.40 Td (10 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.37 266.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 87.67 266.20 Td (The impairment analysis assumed only 50 percent of the syner) Tj ET Q
q 0 0 0 rg BT 362.70 266.20 Td (gies expected to be realized from the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (acquisition of ) Tj ET Q
q 0 0 0 rg BT 112.73 253.00 Td (T) Tj ET Q
q 0 0 0 rg BT 119.07 253.00 Td (ime. Had 100 percent of the syner) Tj ET Q
q 0 0 0 rg BT 268.23 253.00 Td (gies been incorporated into the future cash flows in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (impairment analysis, the fair value would have exceeded carrying value by 43 percent. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (Qualitative impairment analyses were performed for the local media excluding MNI and the MNI reporting units ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (and resulted in no indications of impairment.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (During ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 83.91 173.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 132.48 173.80 Td (, Meredith made the strategic decision to no longer publish ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 394.28 173.80 Td (Fit Pr) Tj ET Q
q 0 0 0 rg BT 420.46 173.80 Td (egnancy and Baby) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.70 173.80 Td ( magazine as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (a standalone title, rather to include it as a feature within ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 297.41 160.60 Td (Par) Tj ET Q
q 0 0 0 rg BT 313.50 160.60 Td (ents) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.22 160.60 Td ( magazine and to discontinue ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 462.26 160.60 Td (FamilyFun) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.14 160.60 Td ( as a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (subscription title and instead publish it only for sale on the newsstand. ) Tj ET Q
q 0 0 0 rg BT 361.73 147.40 Td (These decisions were determined to be ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (triggering events requiring Meredith to evaluate the trademarks within our Parents Network for impairment. ) Tj ET Q
q 0 0 0 rg BT 527.45 134.20 Td (As a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (result of those analyses, the Company recorded pre-tax non-cash impairment char) Tj ET Q
q 0 0 0 rg BT 409.32 121.00 Td (ges of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.64 121.00 Td ($22.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.92 121.00 Td ( related to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (those trademarks. In fiscal 2017, the Company recorded a pre-tax non-cash impairment char) Tj ET Q
q 0 0 0 rg BT 455.43 107.80 Td (ge of $5.3 million to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (write-of) Tj ET Q
q 0 0 0 rg BT 85.23 94.60 Td (f the national media segment�) Tj ET Q
q 0 0 0 rg BT 215.35 94.60 Td (s Mywedding trademark. See ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.02 94.60 Td (Note�5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.65 94.60 Td ( to the consolidated financial statements ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (for additional information.) Tj ET Q
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BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.60 Td (PENSION ) Tj ET Q
q 0 0 0 rg BT 101.04 741.60 Td (AND POSTRETIREMENT) Tj ET Q
q 0 0 0 rg BT 231.33 741.60 Td ( PLANS) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (Meredith has U.S. noncontributory pension plans covering substantially all employees who were employed by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (Meredith prior to the ) Tj ET Q
q 0 0 0 rg BT 144.50 702.00 Td (T) Tj ET Q
q 0 0 0 rg BT 150.83 702.00 Td (ime acquisition. In connection with the acquisition, the Company assumed the obligations ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td (under ) Tj ET Q
q 0 0 0 rg BT 77.60 688.80 Td (T) Tj ET Q
q 0 0 0 rg BT 83.93 688.80 Td (ime�) Tj ET Q
q 0 0 0 rg BT 103.48 688.80 Td (s various international pension plans including plans in the U.K., Netherlands, and Germany) Tj ET Q
q 0 0 0 rg BT 509.07 688.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 514.37 688.80 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (domestic and international plans include qualified \(funded\) plans as well as nonqualified \(unfunded\) plans. ) Tj ET Q
q 0 0 0 rg BT 522.97 675.60 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.40 Td (plans provide participating employees with retirement benefits in accordance with benefit provision formulas. ) Tj ET Q
q 0 0 0 rg BT 536.09 662.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.20 Td (nonqualified plans provide retirement benefits only to certain highly compensated employees. Meredith also ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td (sponsors defined healthcare and life insurance plans that provide benefits to eligible retirees.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (The accounting for pension and postretirement plans is actuarially based and includes assumptions regarding ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (expected returns on plan assets, discount rates, and the rate of increase in healthcare costs. ) Tj ET Q
q 0 0 0 rg BT 449.31 596.40 Td (W) Tj ET Q
q 0 0 0 rg BT 458.82 596.40 Td (e consider the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.20 Td (accounting for pension and postretirement plans critical to Meredith and both of our segments because of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (number of significant judgments required in accounting for the plans. More information on our assumptions and our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.80 Td (methodology in arriving at these assumptions can be found in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.73 556.80 Td (Note�1) Tj ET Q
q 0 0 0 rg BT 352.95 556.80 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 358.45 556.80 Td ( to the consolidated financial statements. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (Changes in key assumptions could materially af) Tj ET Q
q 0 0 0 rg BT 260.59 543.60 Td (fect the associated assets, liabilities, and benefit expenses. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (Depending on the assumptions and estimates used, these balances could vary within a range of outcomes. ) Tj ET Q
q 0 0 0 rg BT 516.57 530.40 Td (W) Tj ET Q
q 0 0 0 rg BT 526.07 530.40 Td (e ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.20 Td (monitor trends in the marketplace and rely on guidance from employee benefit specialists to arrive at reasonable ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 504.00 Td (estimates. ) Tj ET Q
q 0 0 0 rg BT 96.23 504.00 Td (These estimates are reviewed annually and updated as needed. Nevertheless, the estimates are subjective ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td (and may vary from actual results.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (Meredith will use a long-term rate of return on plan assets of 8.0 percent for the U.S. pension plans, the same for the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.20 Td (U.S. pension plans as used in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 181.38 451.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 229.95 451.20 Td (, and 4.9 percent for the international pension plans in developing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.68 451.20 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 438.00 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 438.00 Td ( pension costs. ) Tj ET Q
q 0 0 0 rg BT 139.02 438.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 158.87 438.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 207.44 438.00 Td ( rates were based on various factors that include but are not limited to the plans�) Tj ET Q
q 0 0 0 rg BT 558.82 438.00 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.80 Td (asset allocations, a review of historical capital market performance, historical plan performance, current market ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.60 Td (factors such as inflation and interest rates, and a forecast of expected future asset returns. ) Tj ET Q
q 0 0 0 rg BT 444.11 411.60 Td (The U.S. pension plan ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.40 Td (assets earned 9.0 percent in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 173.40 398.40 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 221.97 398.40 Td ( and 15.4 in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 276.65 398.40 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 325.23 398.40 Td (, while the international pension plans lost 0.8 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.20 Td (percent for the five-month period ended June�30, 2018. If we had decreased our expected long-term rate of return ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 372.00 Td (on plan assets by 0.5 percent in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 190.52 372.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 239.09 372.00 Td (, our pension expense would have increased by $0.7 million for the U.S. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (pension plans and $1.8 million for the international pension plans.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.40 Td (Meredith will use a weighted average discount rate of 4.03 percent in developing the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.40 332.40 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 473.97 332.40 Td ( pension costs for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.20 Td (the U.S pension plans, up from a rate of 3.41 percent used in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 319.44 319.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.01 319.20 Td (, and 2.57 percent for the international ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (pension plans. If we had decreased the discount rate by 0.5 percent in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 358.20 306.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.77 306.00 Td (, our pension expense would have ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.80 Td (increased by $0.1�million for the U.S. pension plans and decreased by $1.0 million for the international pension ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (plans.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.20 Td (Assumed rates of increase in healthcare cost levels have a significant ef) Tj ET Q
q 0 0 0 rg BT 364.70 253.20 Td (fect on postretirement benefit costs. ) Tj ET Q
q 0 0 0 rg BT 524.15 253.20 Td (A) Tj ET Q
q 0 0 0 rg BT 531.49 253.20 Td ( one- ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 240.00 Td (percentage-point increase in the assumed healthcare cost trend rate would have resulted in an increase of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.02 240.00 Td ($0.4 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.80 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 226.80 Td ( in the postretirement benefit obligation at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.65 226.80 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.06 226.80 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 355.19 226.80 Td (no) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 366.19 226.80 Td ( increase in the aggregate service and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.60 Td (interest cost components of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 173.42 213.60 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 221.99 213.60 Td ( expense.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 174.00 Td (INCOME ) Tj ET Q
q 0 0 0 rg BT 99.00 174.00 Td (T) Tj ET Q
q 0 0 0 rg BT 105.52 174.00 Td (AXES) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.60 Td (Income taxes are recorded for the amount of taxes payable for the current year and include deferred tax assets and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.40 Td (liabilities for the ef) Tj ET Q
q 0 0 0 rg BT 133.80 134.40 Td (fect of temporary dif) Tj ET Q
q 0 0 0 rg BT 224.92 134.40 Td (ferences between the financial and tax basis of recorded assets and liabilities ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.20 Td (using enacted tax rates. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 108.00 Td (some portion or all of the deferred tax assets will not be realized.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.60 Td (As a result of the ) Tj ET Q
q 0 0 0 rg BT 127.70 81.60 Td (T) Tj ET Q
q 0 0 0 rg BT 133.65 81.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 182.53 81.60 Td (Act, signed into law on December�22, 2017, a blended federal rate of 28 percent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.40 Td (applies retroactively to the beginning of Meredith�) Tj ET Q
q 0 0 0 rg BT 271.77 68.40 Td (s fiscal 2018. Net deferred tax liabilities totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.45 68.40 Td ($432.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 548.23 68.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.20 Td (or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 61.91 55.20 Td (8 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 102.53 55.20 Td ( of total liabilities, at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.62 55.20 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 258.03 55.20 Td (.) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 741.40 Td (e consider accounting for income taxes critical to our operations because management is required to make ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (significant subjective judgments in developing our provision for income taxes, including the determination of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (deferred tax assets and liabilities, any valuation allowances that may be required against deferred tax assets, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (reserves for uncertain tax positions.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (The Company operates in numerous taxing jurisdictions and is subject to audit in each of these jurisdictions. ) Tj ET Q
q 0 0 0 rg BT 529.43 675.40 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (audits can involve complex issues that tend to require an extended period of time to resolve and may eventually ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (result in an increase or decrease to amounts previously paid to the taxing jurisdictions. ) Tj ET Q
q 0 0 0 rg BT 432.15 649.00 Td (Any such audits are not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (expected to have a material ef) Tj ET Q
q 0 0 0 rg BT 181.42 635.80 Td (fect on the Company�) Tj ET Q
q 0 0 0 rg BT 276.42 635.80 Td (s consolidated financial statements.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 172.80 596.20 Td (ACCOUNTING ) Tj ET Q
q 0 0 0 rg BT 251.34 596.20 Td (AND REPOR) Tj ET Q
q 0 0 0 rg BT 316.03 596.20 Td (TING DEVELOPMENTS) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (ADOPTED OR PENDING ) Tj ET Q
q 0 0 0 rg BT 178.65 556.60 Td (ACCOUNTING PRONOUNCEMENTS) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (There were no new accounting pronouncements issued or ef) Tj ET Q
q 0 0 0 rg BT 314.32 530.20 Td (fective during the fiscal year which have had or are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (expected to have a material impact on the consolidated financial statements in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.76 517.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 444.33 517.00 Td (. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.74 517.00 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 510.31 517.00 Td ( we expect ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (that the adoption of the new revenue recognition standard will have a material impact on our consolidated financial ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (accounting standards.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (ITEM�7A. QUANTIT) Tj ET Q
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q 0 0 0 rg BT 164.18 411.40 Td (TIVE ) Tj ET Q
q 0 0 0 rg BT 193.23 411.40 Td (AND QUALIT) Tj ET Q
q 0 0 0 rg BT 262.39 411.40 Td (A) Tj ET Q
q 0 0 0 rg BT 269.52 411.40 Td (TIVE DISCLOSURES ) Tj ET Q
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q 0 0 0 rg BT 469.92 411.40 Td ( RISK) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (Meredith is exposed to certain market risks as a result of our use of financial instruments, in particular the potential ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (market value loss arising from adverse changes in interest rates. ) Tj ET Q
q 0 0 0 rg BT 333.57 358.60 Td (The Company does not utilize financial instruments ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (for trading purposes and does not hold any derivative financial instruments that could expose the Company to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (significant market risk. ) Tj ET Q
q 0 0 0 rg BT 154.27 332.20 Td (There have been no significant changes in the market risk exposures since ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.94 332.20 Td (June�30, 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 544.35 332.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (Inter) Tj ET Q
q 0 0 0 rg BT 73.63 305.80 Td (est Rates) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 279.40 Td (e generally manage our risk associated with interest rate movements through the use of a combination of variable ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (and fixed-rate debt. ) Tj ET Q
q 0 0 0 rg BT 137.96 266.20 Td (At ) Tj ET Q
BT /F2 11.00 Tf ET
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421.50 183.30 60.00 -15.00 re f
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481.50 183.30 20.00 -15.00 re f
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501.50 183.30 60.00 -15.00 re f
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421.50 123.30 60.00 -26.00 re f
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3 M
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379.5 678.3 l
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481.5 678.3 m
501.5 678.3 l
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3 M
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3 M
501.5 678.3 m
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3 M
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3 M
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3 M
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3 M
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3 M
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3 M
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BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 217.90 668.98 Td (eferr) Tj ET Q
q 0 0 0 rg BT 238.81 668.98 Td (ed Stock, and Shar) Tj ET Q
q 0 0 0 rg BT 319.20 668.98 Td (eholders�) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 382.40 658.98 Td (June 30,) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 538.00 658.98 Td (2017) Tj ET Q
BT /F3 9.00 Tf ET
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q 0 0 0 rg BT 151.15 643.75 Td (e data) Tj ET Q
BT /F2 9.00 Tf ET
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 75.73 629.20 Td (ent liabilities) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 424.00 614.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.05 614.17 Td (17.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 504.00 614.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 614.17 Td (62.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 599.17 Td (Current portion of long-term broadcast rights payable) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 288.75 599.17 Td (...............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 463.55 599.17 Td (8.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.55 599.17 Td (9.2) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 132.00 584.17 Td (........................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.55 584.17 Td (194.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 584.17 Td (66.6) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 554.17 Td (69.0) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 162.25 539.17 Td (.............................................................................................) Tj ET Q
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q 0 0 0 rg BT 538.05 524.17 Td (28.1) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 458.00 449.17 Td (17.9) Tj ET Q
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q 0 0 0 rg BT 52.00 419.17 Td (Unearned revenues) Tj ET Q
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q 0 0 0 rg BT 173.25 389.17 Td (.........................................................................................) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 272.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F3 10.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 258.95 677.35 Td (par) Tj ET Q
q 0 0 0 rg BT 272.29 677.35 Td ( value) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 403.75 688.15 Td (Retained) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 452.50 709.30 Td (Accumulated) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 9.00 Tf ET
q 0 0 0 rg BT 448.05 687.75 Td (Compr) Tj ET Q
q 0 0 0 rg BT 475.38 687.75 Td (ehensive) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F2 9.00 Tf ET
q 0 0 0 rg BT 524.00 677.36 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 526.25 677.36 Td (T) Tj ET Q
q 0 0 0 rg BT 531.43 677.36 Td (otal) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 256.00 663.47 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 304.00 663.47 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 333.15 663.47 Td (6.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 352.00 663.47 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 400.00 663.47 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.80 663.52 Td (\(12.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 501.65 663.47 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 514.00 663.47 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 287.65 649.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 335.65 649.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 383.65 649.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 424.15 649.47 Td (33.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 649.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 200.00 635.47 Td (....................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 287.65 635.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 335.65 635.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 383.65 635.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.65 635.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.80 635.52 Td (\(15.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 501.65 635.47 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 534.80 635.52 Td (\(15.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 555.65 635.47 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 620.57 Td (Stock issued under various incentive plans, net) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 610.57 Td (of forfeitures) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 107.50 610.47 Td (.........................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 285.15 610.57 Td (0.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 335.65 610.57 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.65 610.57 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 610.57 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 335.65 596.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 372.80 596.52 Td (\(30.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 393.65 596.47 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.65 596.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 596.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 555.65 596.47 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 582.47 Td (Share-based compensation) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 287.65 582.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 335.65 582.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 376.15 582.47 Td (12.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.65 582.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 582.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 538.15 582.47 Td (12.8) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 212.50 568.47 Td (...............) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 383.65 568.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.65 568.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 568.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 545.65 568.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 335.65 539.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 383.65 539.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 420.80 539.52 Td (\(72.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 441.65 539.47 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 539.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 534.80 539.52 Td (\(72.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 555.65 539.47 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 335.65 525.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 383.65 525.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 420.80 525.52 Td (\(13.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 441.65 525.47 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 525.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 534.80 525.52 Td (\(13.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 555.65 525.47 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 335.65 511.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.65 511.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 511.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 501.65 497.47 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 483.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 215.00 468.47 Td (..............) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 287.65 468.57 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 335.65 468.57 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 383.65 468.57 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.65 468.57 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 543.15 468.57 Td (9.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 453.57 Td (Stock issued under various incentive plans, net) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 443.57 Td (of forfeitures) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.65 443.57 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 443.57 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 335.65 429.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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q 0 0 0 rg BT 491.65 415.47 Td (�) Tj ET Q
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q 0 0 0 rg BT 431.65 401.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 401.47 Td (�) Tj ET Q
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 491.65 345.47 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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q 0 0 0 rg BT 50.00 385.20 Td (accepted in the United States of ) Tj ET Q
q 0 0 0 rg BT 191.73 385.20 Td (America \(U.S. GAAP\) requires management to make estimates and assumptions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 372.00 Td (that af) Tj ET Q
q 0 0 0 rg BT 77.59 372.00 Td (fect the amounts reported in the consolidated financial statements. ) Tj ET Q
q 0 0 0 rg BT 371.24 372.00 Td (The Company bases its estimates on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (historical experience, management expectations for future performance, and other assumptions as appropriate. Key ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.60 Td (areas af) Tj ET Q
q 0 0 0 rg BT 83.69 345.60 Td (fected by estimates include the allowance for doubtful accounts, which is based on historical experience and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.40 Td (management�) Tj ET Q
q 0 0 0 rg BT 109.25 332.40 Td (s views on trends in the overall receivable aging, the assessment of the recoverability of long-lived ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.20 Td (assets, including goodwill and other intangible assets, which is based on such factors as estimated future cash flows; ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (the determination of the net realizable value of broadcast rights, which is based on estimated future revenues; ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.80 Td (pension and postretirement benefit expenses, which are determined based, in lar) Tj ET Q
q 0 0 0 rg BT 401.68 292.80 Td (ge part, on actuarial assumptions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (regarding discount rates, expected returns on plan assets, and healthcare costs; and share-based compensation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.40 Td (expense, which is based on numerous assumptions including future stock price volatility and employees�) Tj ET Q
q 0 0 0 rg BT 510.47 266.40 Td ( expected ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.20 Td (exercise and post-vesting employment termination behavior) Tj ET Q
q 0 0 0 rg BT 313.01 253.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 318.31 253.20 Td (While the Company re-evaluates its estimates on an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 240.00 Td (ongoing basis, actual results may vary from those estimates.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.60 Td (Reclassifications) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.60 213.60 Td (�Certain prior years�) Tj ET Q
q 0 0 0 rg BT 223.92 213.60 Td ( amounts have been reclassified to conform to fiscal 2018 presentation.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.20 Td (Cash and Cash Equivalents) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 179.30 187.20 Td (�Cash and short-term investments with original maturities of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.47 187.20 Td (3 months) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.12 187.20 Td ( or less are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 174.00 Td (considered to be cash and cash equivalents. Cash and cash equivalents are stated at cost, which approximates fair ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.80 Td (value.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.40 Td (Concentration of Cr) Tj ET Q
q 0 0 0 rg BT 145.12 134.40 Td (edit Risk) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.98 134.40 Td (�Financial instruments that potentially subject the Company to concentrations of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.20 Td (credit risk are primarily cash and cash equivalent deposits. Cash equivalent balances consist of money market ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 108.00 Td (mutual funds with original maturities of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 228.42 108.00 Td (3 months) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.06 108.00 Td ( or less. ) Tj ET Q
q 0 0 0 rg BT 305.52 108.00 Td (These cash and cash equivalent deposits are maintained ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.80 Td (with several financial institutions. ) Tj ET Q
q 0 0 0 rg BT 201.63 94.80 Td (The deposits held at the various financial institutions may exceed federally ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.60 Td (insured limits. Exposure to this credit risk is reduced by placing such deposits with major financial institutions and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.40 Td (monitoring their credit ratings and, therefore, these deposits bear minimal credit risk. ) Tj ET Q
q 0 0 0 rg BT 426.44 68.40 Td (There is also limited credit ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (64) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (risk with respect to the money market mutual funds in which the Company invests as these funds all have issuers, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (guarantors, and/or other counterparties of reputable credit.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (At ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 63.75 701.80 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.16 701.80 Td (, $) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 136.16 701.80 Td (41) Tj ET Q
q 0 0 0 rg BT 146.75 701.80 Td (1.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 195.04 701.80 Td ( of cash and cash equivalents were held domestically) Tj ET Q
q 0 0 0 rg BT 427.07 701.80 Td (, of which $) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.62 701.80 Td (370.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.90 701.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (were held in money market mutual funds. Of the total cash and cash equivalents, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.00 688.60 Td ($26.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.29 688.60 Td ( were held ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (internationally) Tj ET Q
q 0 0 0 rg BT 113.43 675.40 Td (, primarily in Europe. Cash equivalents at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 299.47 675.40 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 360.88 675.40 Td (, were $) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 396.01 675.40 Td (373.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.29 675.40 Td (, which approximates ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (fair value due to their short-term nature, and is considered a Level�1 measurement as defined in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.12 662.20 Td (Note�10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.25 662.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (Accounts Receivable) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 146.84 635.80 Td (�The Company�) Tj ET Q
q 0 0 0 rg BT 223.52 635.80 Td (s accounts receivable are primarily due from advertisers. Credit is extended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (to clients based on an evaluation of each client�) Tj ET Q
q 0 0 0 rg BT 258.31 622.60 Td (s creditworthiness and financial condition; collateral is not required. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (The Company maintains allowances for uncollectible accounts, rebates, rate adjustments, returns, and discounts. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (The allowance for uncollectible accounts is based on the aging of such receivables and any known specific ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (collectability exposures. ) Tj ET Q
q 0 0 0 rg BT 159.05 583.00 Td (Accounts are written of) Tj ET Q
q 0 0 0 rg BT 262.40 583.00 Td (f when deemed uncollectible. ) Tj ET Q
q 0 0 0 rg BT 394.05 583.00 Td (Allowances for rebates, rate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (adjustments, returns, and discounts are generally based on historical experience and current market conditions. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (Concentration of credit risk with respect to accounts receivable is generally limited due to the lar) Tj ET Q
q 0 0 0 rg BT 475.90 556.60 Td (ge number of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (geographically diverse clients and individually small balances.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (Inventories) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 103.16 517.00 Td (�Inventories are stated at the lower of cost or net realizable value. Ef) Tj ET Q
q 0 0 0 rg BT 411.14 517.00 Td (fective January�1, 2018, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (Company changed its method of accounting for paper inventory in the national media segment from the last-in, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (first-out \(LIFO\) method to the weighted average cost method. ) Tj ET Q
q 0 0 0 rg BT 324.73 490.60 Td (The Company believes that the weighted average ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (cost method of accounting for paper inventory is preferable because it provides a better match of production costs ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (with revenues considering the limited volatility in paper prices due to the short production cycle.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (The ef) Tj ET Q
q 0 0 0 rg BT 78.20 437.80 Td (fect of the change was not considered material to the previously issued consolidated financial statements and, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (as such, was adopted prospectively as of January�1, 2018. ) Tj ET Q
q 0 0 0 rg BT 306.10 424.60 Td (The cumulative ef) Tj ET Q
q 0 0 0 rg BT 385.92 424.60 Td (fect of the change recorded in the third ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (quarter of fiscal 2018 was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 166.99 411.40 Td ($1.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.77 411.40 Td ( representing the removal of the LIFO costs reserve. ) Tj ET Q
q 0 0 0 rg BT 452.71 411.40 Td (This adjustment was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (recorded to the production, distribution, and editorial line within the Consolidated Statements of Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (Cost is determined on the first-in first-out or average basis for all other inventories.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (Subscription ) Tj ET Q
q 0 0 0 rg BT 112.05 345.40 Td (Acquisition Costs) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 194.26 345.40 Td (�Subscription acquisition costs primarily represent magazine agency ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (commissions. ) Tj ET Q
q 0 0 0 rg BT 112.75 332.20 Td (These costs are deferred and amortized over the related subscription term, typically ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.02 332.20 Td (one) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.90 332.20 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.96 332.20 Td (two years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 554.42 332.20 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (In addition, direct-response advertising costs that are intended to solicit subscriptions and are expected to result in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (probable future benefits are capitalized. ) Tj ET Q
q 0 0 0 rg BT 226.93 305.80 Td (These costs are amortized over the period during which future benefits are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (expected to be received. ) Tj ET Q
q 0 0 0 rg BT 158.82 292.60 Td (The asset balance of the capitalized direct-response advertising costs is reviewed quarterly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (to ensure the amount is realizable. ) Tj ET Q
q 0 0 0 rg BT 202.42 279.40 Td (Any write-downs resulting from this review are expensed as subscription ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (acquisition advertising costs in the current period. Capitalized direct-response advertising costs were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 495.67 266.20 Td ($7.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 549.45 266.20 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 253.00 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 132.80 253.00 Td ($6.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.58 253.00 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 200.01 253.00 Td (June�30, 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 261.43 253.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 266.73 253.00 Td (There were no material write-downs of capitalized direct-response ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (advertising costs in any of the fiscal years in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 264.44 239.80 Td (three) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 286.42 239.80 Td (-year period ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.63 239.80 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.04 239.80 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (Pr) Tj ET Q
q 0 0 0 rg BT 61.40 213.40 Td (operty) Tj ET Q
q 0 0 0 rg BT 91.34 213.40 Td (, Plant, and Equipment) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 200.46 213.40 Td (�Property) Tj ET Q
q 0 0 0 rg BT 248.62 213.40 Td (, plant, and equipment are stated at cost with the exception of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (property) Tj ET Q
q 0 0 0 rg BT 86.55 200.20 Td (, plant, and equipment that was recorded at estimated fair value as of January�31, 2018, as a result of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (Acquisition. ) Tj ET Q
q 0 0 0 rg BT 106.22 187.00 Td (Additions to that acquired property) Tj ET Q
q 0 0 0 rg BT 260.08 187.00 Td (, plant, and equipment since January�31, 2018, are stated at cost. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (Costs of replacements and major improvements are capitalized, while costs of maintenance and repairs are char) Tj ET Q
q 0 0 0 rg BT 540.33 173.80 Td (ged ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (to operations as incurred. Depreciation expense is determined primarily using the straight-line method over the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (estimated useful lives of the assets:�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 207.63 147.40 Td (5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 213.13 147.40 Td (-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.79 147.40 Td (45 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 253.75 147.40 Td ( for buildings and improvements, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.84 147.40 Td (3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.34 147.40 Td (-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.01 147.40 Td (6 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 443.46 147.40 Td ( for capitalized software, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.63 134.20 Td (3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 74.13 134.20 Td (-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 77.80 134.20 Td (20 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 114.75 134.20 Td ( for machinery and equipment. ) Tj ET Q
q 0 0 0 rg BT 252.62 134.20 Td (The costs of leasehold improvements are amortized over the lesser of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (the useful lives of the improvements or the terms of the respective leases. Depreciation and amortization of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (property) Tj ET Q
q 0 0 0 rg BT 86.55 107.80 Td (, plant, and equipment was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 207.22 107.80 Td ($54.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.50 107.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 280.55 107.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 329.13 107.80 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 334.63 107.80 Td ($34.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 393.91 107.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 407.96 107.80 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 456.53 107.80 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.67 107.80 Td ($39.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.95 107.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.57 94.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (In fiscal 2016, management committed to a plan to sell the Company�) Tj ET Q
q 0 0 0 rg BT 356.71 68.20 Td (s two corporate airplanes and classified them ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 Td (as held-for) Tj ET Q
q 0 0 0 rg BT 97.12 55.00 Td (-sale at June�30, 2017 and 2016. ) Tj ET Q
q 0 0 0 rg BT 241.42 55.00 Td (The airplanes were sold in early fiscal 2018. ) Tj ET Q
q 0 0 0 rg BT 438.85 55.00 Td (The estimated fair value of ) Tj ET Q
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q 0 0 0 rg BT 301.00 31.60 Td (65) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (these airplanes of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 129.72 741.40 Td ($1.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 183.50 741.40 Td ( was included in the machinery and equipment line in the Consolidated Balance ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (Sheets at June�30, 2017. Losses resulting from fair value adjustments to these assets of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.01 728.20 Td ($0.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.79 728.20 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.17 728.20 Td ($5.6 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 715.00 Td ( were recorded in the impairment of goodwill and other long-lived assets line in the Consolidated Statements ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (of Earnings in fiscal 2017 and 2016, respectively) Tj ET Q
q 0 0 0 rg BT 264.95 701.80 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (Br) Tj ET Q
q 0 0 0 rg BT 62.02 675.40 Td (oadcast Rights) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 130.78 675.40 Td (�Broadcast rights consist principally of rights to broadcast syndicated programs, sports, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (feature films. ) Tj ET Q
q 0 0 0 rg BT 111.19 662.20 Td (The total cost of these rights is recorded as an asset and as a liability when programs become ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (available for broadcast. ) Tj ET Q
q 0 0 0 rg BT 155.47 649.00 Td (The current portion of broadcast rights represents those rights available for broadcast that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (are expected to be amortized in the succeeding year) Tj ET Q
q 0 0 0 rg BT 276.61 635.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 281.91 635.80 Td (These rights are valued at the lower of unamortized cost or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (estimated net realizable value, and are generally char) Tj ET Q
q 0 0 0 rg BT 283.12 622.60 Td (ged to operations on an accelerated basis over the contract ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (period. Impairments of unamortized costs to net realizable value are included in production, distribution, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (editorial expenses in the Consolidated Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 327.49 596.20 Td (There were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.01 596.20 Td (no) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.01 596.20 Td ( material impairments of unamortized ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (costs in fiscal years ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.59 583.00 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.59 583.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 166.09 583.00 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.09 583.00 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 205.50 583.00 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 227.50 583.00 Td (. Future write-of) Tj ET Q
q 0 0 0 rg BT 299.70 583.00 Td (fs can vary based on changes in consumer viewing trends ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (and the availability and costs of other programming.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (Intangible ) Tj ET Q
q 0 0 0 rg BT 100.43 543.40 Td (Assets and Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 195.79 543.40 Td (�Amortizable intangible assets consist primarily of advertiser relationships, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (publisher relationships, network af) Tj ET Q
q 0 0 0 rg BT 202.54 530.20 Td (filiation agreements, partner relationships, customer relationships, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (retransmission agreements. Intangible assets with finite lives are amortized over their estimated useful lives. ) Tj ET Q
q 0 0 0 rg BT 528.77 517.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (useful life of an intangible asset is the period over which the asset is expected to contribute directly or indirectly to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (future cash flows. Network af) Tj ET Q
q 0 0 0 rg BT 180.84 490.60 Td (filiation agreements are amortized over the period of time the agreements are expected ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (to remain in place, assuming renewals without material modifications to the original terms and conditions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (\(generally ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 97.34 464.20 Td (25) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 108.34 464.20 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.39 464.20 Td (40 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.35 464.20 Td ( from the original acquisition date\). Other intangible assets are amortized over their ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (estimated useful lives, ranging from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 211.29 451.00 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.79 451.00 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 230.85 451.00 Td (10 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 267.81 451.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (Intangible assets with indefinite lives include trademarks and Federal Communications Commission \(FCC\) ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (broadcast licenses. ) Tj ET Q
q 0 0 0 rg BT 135.02 411.40 Td (These licenses are granted for a term of up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.60 411.40 Td (eight years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.55 411.40 Td (, but are renewable if the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (provides at least an average level of service to its customers and complies with the applicable FCC rules and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (policies and the Communications ) Tj ET Q
q 0 0 0 rg BT 199.09 385.00 Td (Act of 1934. ) Tj ET Q
q 0 0 0 rg BT 256.94 385.00 Td (The Company has been successful in every one of its past license ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (renewal requests and has incurred only minimal costs in the process. ) Tj ET Q
q 0 0 0 rg BT 354.05 371.80 Td (The Company expects the television ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (broadcasting business to continue indefinitely; therefore, the cash flows from the broadcast licenses are also ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (expected to continue indefinitely) Tj ET Q
q 0 0 0 rg BT 193.76 345.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (The Company has acquired trademark brands that have been determined to have indefinite lives. ) Tj ET Q
q 0 0 0 rg BT 477.12 319.00 Td (Those assets are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (evaluated annually for impairment. ) Tj ET Q
q 0 0 0 rg BT 207.10 305.80 Td (The Company evaluates a number of factors to determine whether an indefinite ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (life is appropriate, including the competitive environment, market share, brand history) Tj ET Q
q 0 0 0 rg BT 428.98 292.60 Td (, and operating plans. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (addition, when certain events or changes in operating conditions occur) Tj ET Q
q 0 0 0 rg BT 359.91 279.40 Td (, an additional impairment assessment is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (performed and indefinite-lived assets may be adjusted to a determinable life.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (Goodwill and intangible assets which have indefinite lives, are not amortized but are tested for impairment annually ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (or when events occur or circumstances change that indicate the carrying value may exceed the fair value. Goodwill ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (impairment testing is performed at the reporting unit level. ) Tj ET Q
q 0 0 0 rg BT 310.68 213.40 Td (The Company has ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 393.47 213.40 Td (three) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.45 213.40 Td ( reporting units � national media, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (local media excluding MNI ) Tj ET Q
q 0 0 0 rg BT 173.82 200.20 Td (T) Tj ET Q
q 0 0 0 rg BT 179.77 200.20 Td (ar) Tj ET Q
q 0 0 0 rg BT 188.12 200.20 Td (geted Media \(MNI\), and MNI. ) Tj ET Q
q 0 0 0 rg BT 325.08 200.20 Td (The Company also assesses, at least annually) Tj ET Q
q 0 0 0 rg BT 523.23 200.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (whether assets classified as indefinite-lived intangible assets continue to have indefinite lives.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (The Company performs its goodwill impairment analysis annually as of May�31. ) Tj ET Q
q 0 0 0 rg BT 407.75 160.60 Td (At May�31, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 460.91 160.60 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.91 160.60 Td (, the date the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (Company last performed its annual evaluation of impairment of goodwill, management elected to perform ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (qualitative impairment tests for the local media excluding MNI and the MNI reporting units and a quantitative ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (goodwill impairment test for the national media reporting unit. ) Tj ET Q
q 0 0 0 rg BT 328.00 121.00 Td (A) Tj ET Q
q 0 0 0 rg BT 335.33 121.00 Td ( quantitative impairment test, performed for a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (goodwill reporting unit or indefinite-lived intangible assets involves determining the fair value of the reporting unit ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (or asset which is then compared to its carrying value.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 73.40 Td (Fair value to which carrying value is compared in the quantitative analysis is determined using a discounted cash ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 60.20 Td (flow model, which requires us to estimate the future cash flows expected to be generated by the reporting unit or to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 47.00 Td (result from the use of the asset. ) Tj ET Q
q 0 0 0 rg BT 189.71 47.00 Td (These estimates include assumptions about future revenues \(including projections of ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (66) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (overall market growth and share of market\), estimated costs, and appropriate discount rates where applicable. ) Tj ET Q
q 0 0 0 rg BT 534.23 741.40 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (assumptions are based on historical data, various internal estimates, and a variety of external sources and are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (consistent with the assumptions used in both short-term financial forecasts and long-term strategic plans. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (Depending on the assumptions and estimates used, future cash flow projections can vary within a range of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (outcomes. Changes in key assumptions used and their prospects or changes in market conditions could result in an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (impairment char) Tj ET Q
q 0 0 0 rg BT 122.19 675.40 Td (ge.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 654.20 Td (Additional information regarding intangible assets and goodwill including a discussion of impairment char) Tj ET Q
q 0 0 0 rg BT 519.65 654.20 Td (ges taken ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 641.00 Td (on goodwill and other long-lived intangible assets is provided in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 335.96 641.00 Td (Note�5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.59 641.00 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 614.60 Td (Impairment of Long-lived ) Tj ET Q
q 0 0 0 rg BT 174.36 614.60 Td (Assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 203.69 614.60 Td (�Long-lived assets \(primarily property) Tj ET Q
q 0 0 0 rg BT 378.63 614.60 Td (, plant, and equipment and amortizable ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 601.40 Td (intangible assets\) are reviewed for impairment whenever events and circumstances indicate the carrying value of an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 588.20 Td (asset may not be recoverable. Recoverability is measured by comparison of the forecasted undiscounted cash flows ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 575.00 Td (of the operation to which the assets relate to the carrying amount of the assets. ) Tj ET Q
q 0 0 0 rg BT 396.81 575.00 Td (T) Tj ET Q
q 0 0 0 rg BT 402.76 575.00 Td (ests for impairment or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 561.80 Td (recoverability require significant management judgment, and future events af) Tj ET Q
q 0 0 0 rg BT 389.75 561.80 Td (fecting cash flows and market ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 548.60 Td (conditions could result in impairment losses.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 522.20 Td (Derivative Financial Instruments) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 205.82 522.20 Td (�Meredith does not engage in derivative or hedging activities, except to hedge ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 509.00 Td (interest rate risk on debt. Prior to the ) Tj ET Q
q 0 0 0 rg BT 213.44 509.00 Td (Acquisition, Meredith held interest rate swaps designated and accounted for as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 495.80 Td (cash flow hedges in accordance with ) Tj ET Q
q 0 0 0 rg BT 213.72 495.80 Td (Accounting Standards Codification \(ASC\)�815, ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 425.13 495.80 Td (Derivatives and Hedging.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.47 495.80 Td ( In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 482.60 Td (connection with the repayment of the variable-rate private placement senior notes and bank term loans on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 469.40 Td (January�31, 2018, as further described in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.75 469.40 Td (Note�7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 261.38 469.40 Td (, the Company terminated these swaps. Refer to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.61 469.40 Td (Note�7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 504.24 469.40 Td ( for further ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 456.20 Td (discussion on the gain recognized on this termination. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 429.80 Td (Prior to their termination, the ef) Tj ET Q
q 0 0 0 rg BT 189.71 429.80 Td (fective portion of the change in the fair value of interest rate swaps was reported in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 416.60 Td (other comprehensive income \(loss\). ) Tj ET Q
q 0 0 0 rg BT 209.56 416.60 Td (The gain or loss included in other comprehensive income \(loss\) was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 403.40 Td (subsequently reclassified into net earnings on the same line in the Consolidated Statements of Earnings as the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 390.20 Td (hedged item in the same period that the hedge transaction af) Tj ET Q
q 0 0 0 rg BT 314.32 390.20 Td (fected net earnings. ) Tj ET Q
q 0 0 0 rg BT 402.69 390.20 Td (There were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.21 390.20 Td (no) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.21 390.20 Td ( material gains or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 377.00 Td (losses recognized in earnings for hedge inef) Tj ET Q
q 0 0 0 rg BT 242.84 377.00 Td (fectiveness in fiscal 2018, 2017, or 2016.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 350.60 Td (Revenue Recognition) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 149.30 350.60 Td (�The Company�) Tj ET Q
q 0 0 0 rg BT 225.98 350.60 Td (s primary source of revenue is advertising. Other sources include circulation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 337.40 Td (and other revenues.) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 50.00 311.00 Td (Advertising r) Tj ET Q
q 0 0 0 rg BT 107.34 311.00 Td (evenues�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 151.93 311.00 Td (Advertising revenues are recognized when advertisements are published \(defined as an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 297.80 Td (issue�) Tj ET Q
q 0 0 0 rg BT 75.06 297.80 Td (s on-sale date\) or aired by the broadcasting station, net of provisions for estimated rebates, rate adjustments, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 284.60 Td (and discounts. Barter revenues are included in advertising revenue and are also recognized when the advertisements ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 271.40 Td (are published or the commercials are broadcast. Barter advertising revenues and the of) Tj ET Q
q 0 0 0 rg BT 430.06 271.40 Td (fsetting expense are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 258.20 Td (recognized at the fair value of the advertising surrendered, as determined by similar cash transactions. Barter ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 245.00 Td (advertising revenues were not material in any period. Digital advertising revenues are recognized ratably over the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 231.80 Td (contract period or as services are delivered.) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 50.00 205.40 Td (Cir) Tj ET Q
q 0 0 0 rg BT 64.27 205.40 Td (culation r) Tj ET Q
q 0 0 0 rg BT 106.94 205.40 Td (evenues�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 151.53 205.40 Td (Circulation revenues include magazine single copy and subscription revenue. Single copy ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 192.20 Td (revenue is recognized on the publication�) Tj ET Q
q 0 0 0 rg BT 231.13 192.20 Td (s on-sale date, net of provisions for estimated returns. ) Tj ET Q
q 0 0 0 rg BT 469.51 192.20 Td (The Company bases ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 179.00 Td (its estimates for returns on historical experience and current marketplace conditions. Revenues from magazine ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 165.80 Td (subscriptions are deferred and recognized proportionately as products are distributed to subscribers.) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 50.00 139.40 Td (Other r) Tj ET Q
q 0 0 0 rg BT 82.29 139.40 Td (evenues�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 126.88 139.40 Td (Revenues from content creation and other custom programs are recognized when the products or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 126.20 Td (services are delivered. In addition, the Company participates in certain arrangements containing multiple ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 113.00 Td (deliverables. ) Tj ET Q
q 0 0 0 rg BT 108.44 113.00 Td (The guidance for accounting for multiple-deliverable arrangements requires that overall arrangement ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 99.80 Td (consideration be allocated to each deliverable \(unit of accounting\) in the revenue arrangement based on the relative ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 86.60 Td (selling price as determined by vendor specific objective evidence, third-party evidence, or estimated selling price. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 73.40 Td (The related revenue is recognized when each specific deliverable of the arrangement is delivered. Brand licensing-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 60.20 Td (based revenues are accrued generally monthly or quarterly based on the specific mechanisms of each contract. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 47.00 Td (Payments are generally made by the Company�) Tj ET Q
q 0 0 0 rg BT 257.72 47.00 Td (s partners on a quarterly basis. Generally) Tj ET Q
q 0 0 0 rg BT 436.91 47.00 Td (, revenues are accrued ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (67) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (based on estimated sales and adjusted as actual sales are reported by partners. ) Tj ET Q
q 0 0 0 rg BT 393.73 741.40 Td (These adjustments are typically ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (recorded within ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.09 728.20 Td (three months) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 179.21 728.20 Td ( of the initial estimates and have not been material. ) Tj ET Q
q 0 0 0 rg BT 405.56 728.20 Td (Any minimum guarantees are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (typically earned evenly over the fiscal year) Tj ET Q
q 0 0 0 rg BT 238.75 715.00 Td (. Retransmission consent revenues are recognized over the contract ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (period based on the negotiated fee and generally on a per subscriber basis. Revenues earned for placing magazines ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (with subscribers on behalf of third-party publishers is recognized once the subscriber) Tj ET Q
q 0 0 0 rg BT 424.61 688.60 Td (�) Tj ET Q
q 0 0 0 rg BT 427.66 688.60 Td (s name is transferred to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (publisher) Tj ET Q
q 0 0 0 rg BT 90.50 675.40 Td (, on a net basis, with a reserve for estimated cancellations.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (In certain instances, revenues are recorded gross in accordance with U.S. GAAP) Tj ET Q
q 0 0 0 rg BT 403.29 649.00 Td ( although the Company receives ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (cash for a lesser amount due to the netting of certain expenses. ) Tj ET Q
q 0 0 0 rg BT 327.66 635.80 Td (Amounts received from customers in advance of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (revenue recognition are deferred as liabilities and recognized as revenue in the period earned.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (Contingent Consideration) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 171.93 596.20 Td (�The Company estimates and records the acquisition date estimated fair value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (contingent consideration as part of purchase price consideration for acquisitions. ) Tj ET Q
q 0 0 0 rg BT 406.47 583.00 Td (Additionally) Tj ET Q
q 0 0 0 rg BT 461.37 583.00 Td (, each reporting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (period, the Company estimates changes in the fair value of contingent consideration, and any change in fair value is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (recognized in the Consolidated Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 296.22 556.60 Td (An increase in the earn-out expected to be paid will result in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (a char) Tj ET Q
q 0 0 0 rg BT 76.36 543.40 Td (ge to operations in the quarter that the anticipated fair value of contingent consideration increases, while a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (decrease in the earn-out expected to be paid will result in a credit to operations in the quarter that the anticipated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (fair value of contingent consideration decreases. ) Tj ET Q
q 0 0 0 rg BT 265.13 517.00 Td (The estimate of the fair value of contingent consideration requires ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (subjective assumptions to be made regarding future operating results, discount rates, and probabilities assigned to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (various potential operating result scenarios. Future revisions to these assumptions could materially change the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (estimate of the fair value of contingent consideration and, therefore, materially af) Tj ET Q
q 0 0 0 rg BT 407.46 477.40 Td (fect the Company�) Tj ET Q
q 0 0 0 rg BT 488.71 477.40 Td (s future ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (financial results. ) Tj ET Q
q 0 0 0 rg BT 124.84 464.20 Td (Additional information regarding contingent consideration is provided in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.66 464.20 Td (Note�2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.29 464.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (Advertising Expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 151.15 437.80 Td (�The majority of the Company�) Tj ET Q
q 0 0 0 rg BT 295.95 437.80 Td (s advertising expenses relate to direct-mail costs for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (magazine subscription acquisition ef) Tj ET Q
q 0 0 0 rg BT 210.78 424.60 Td (forts. ) Tj ET Q
q 0 0 0 rg BT 235.84 424.60 Td (Advertising costs that are not capitalized are expensed the first time the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (advertising takes place. ) Tj ET Q
q 0 0 0 rg BT 155.48 411.40 Td (T) Tj ET Q
q 0 0 0 rg BT 161.43 411.40 Td (otal advertising expenses included in the Consolidated Statements of Earnings were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td ($122.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 114.78 398.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.84 398.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 177.41 398.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 182.91 398.20 Td ($63.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 242.19 398.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.24 398.20 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 304.82 398.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.95 398.20 Td ($72.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 388.23 398.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.28 398.20 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.86 398.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (Deferr) Tj ET Q
q 0 0 0 rg BT 80.94 371.80 Td (ed Financing Costs) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.17 371.80 Td (�Costs incurred to obtain financing are deferred and amortized to interest expense, net ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (on the Consolidated Statements of Earnings over the related financing period using the ef) Tj ET Q
q 0 0 0 rg BT 442.94 358.60 Td (fective interest method. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (The Company records deferred financing costs as a direct reduction of the carrying value of the related debt. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (Financing costs related to revolving debt instruments or lines of credit are included in other assets on the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (Consolidated Balance Sheets.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (Income ) Tj ET Q
q 0 0 0 rg BT 87.38 292.60 Td (T) Tj ET Q
q 0 0 0 rg BT 93.70 292.60 Td (axes) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 113.87 292.60 Td (�The income tax provision is calculated under the liability method. Deferred tax assets and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (liabilities are recognized for the future tax consequences attributable to dif) Tj ET Q
q 0 0 0 rg BT 377.22 279.40 Td (ferences between the financial statement ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (carrying amounts of existing assets and liabilities and their respective tax basis and tax credit carryforwards. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (years in which those temporary dif) Tj ET Q
q 0 0 0 rg BT 202.84 239.80 Td (ferences are expected to be recovered or settled. ) Tj ET Q
q 0 0 0 rg BT 416.71 239.80 Td (The ef) Tj ET Q
q 0 0 0 rg BT 444.91 239.80 Td (fect on deferred tax assets ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (and liabilities of a change in tax rates is recognized in earnings in the period when such a change is enacted. ) Tj ET Q
q 0 0 0 rg BT 527.52 226.60 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (Company recognizes the ef) Tj ET Q
q 0 0 0 rg BT 169.84 213.40 Td (fect of income tax positions only if those positions are more likely than not of being ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (sustained. Recognized income tax positions are measured at the lar) Tj ET Q
q 0 0 0 rg BT 344.26 200.20 Td (gest amount that is greater than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.77 200.20 Td (50 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 530.89 200.20 Td ( likely ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (of being realized. Changes in recognition or measurement are reflected in the period in which the change in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (judgment occurs.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (Self-Insurance) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 118.44 147.40 Td (�The Company self-insures for certain medical claims, and its responsibility generally is capped ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (through the use of a stop loss contract with an insurance company at a certain dollar level. ) Tj ET Q
q 0 0 0 rg BT 448.73 134.20 Td (The dollar level varies ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (based on the insurance plan, and ranges between ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.56 121.00 Td ($350 thousand) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.03 121.00 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 352.41 121.00 Td ($500 thousand) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.88 121.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 422.18 121.00 Td (Third-party administrators are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (used to process claims. ) Tj ET Q
q 0 0 0 rg BT 153.97 107.80 Td (The Company uses actual claims data and estimates of claims incurred-but-not-reported to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (calculate estimated liabilities for unsettled claims on an undiscounted basis. ) Tj ET Q
q 0 0 0 rg BT 385.11 94.60 Td (Although management re-evaluates the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (assumptions and reviews the claims experience on an ongoing basis, actual claims paid could vary significantly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (from estimated claims.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (68) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.60 Td (Pensions and Postr) Tj ET Q
q 0 0 0 rg BT 139.04 741.60 Td (etir) Tj ET Q
q 0 0 0 rg BT 155.32 741.60 Td (ement Benefits Other) Tj ET Q
q 0 0 0 rg BT 255.32 741.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 257.87 741.60 Td (Than Pensions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.64 741.60 Td (�Retirement benefits are provided to employees ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.40 Td (through pension plans sponsored by the Company) Tj ET Q
q 0 0 0 rg BT 269.26 728.40 Td (. Pension benefits are generally based on formulas that reflect ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (interest credits allocated to participants�) Tj ET Q
q 0 0 0 rg BT 225.11 715.20 Td ( accounts based on years of benefit service and annual pensionable earnings. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (It is the Company�) Tj ET Q
q 0 0 0 rg BT 131.58 702.00 Td (s policy to fund the qualified pension plans to at least the extent required to maintain their fully ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td (funded status. In addition, the Company provides health care and life insurance benefits for certain retired ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (employees, the expected costs of which are accrued over the years that the employees render services. It is the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.40 Td (Company�) Tj ET Q
q 0 0 0 rg BT 95.83 662.40 Td (s policy to fund postretirement benefits as claims are paid. ) Tj ET Q
q 0 0 0 rg BT 354.57 662.40 Td (Additional information is provided in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 522.30 662.40 Td (Note�1) Tj ET Q
q 0 0 0 rg BT 551.52 662.40 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.02 662.40 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td (Shar) Tj ET Q
q 0 0 0 rg BT 72.42 636.00 Td (e-based Compensation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.46 636.00 Td (�The Company establishes fair value for its equity awards to determine their cost and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (recognizes the related expense over the appropriate vesting period. ) Tj ET Q
q 0 0 0 rg BT 346.07 622.80 Td (The Company recognizes expense for stock ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (options, restricted stock, restricted stock units, and shares issued under the Company�) Tj ET Q
q 0 0 0 rg BT 425.76 609.60 Td (s employee stock purchase ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (plan. See ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 93.07 596.40 Td (Note�12) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.20 596.40 Td ( for additional information related to share-based compensation expense.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (Redeemable Pr) Tj ET Q
q 0 0 0 rg BT 121.58 570.00 Td (eferr) Tj ET Q
q 0 0 0 rg BT 144.57 570.00 Td (ed Stock) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 184.60 570.00 Td (�The Company has outstanding ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.48 570.00 Td (650,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.23 570.00 Td ( shares of perpetual convertible redeemable ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.80 Td (non-voting preferred stock, par value ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.16 556.80 Td ($1.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 240.91 556.80 Td ( per share, each share having an initial stated value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.15 556.80 Td ($1,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.40 556.80 Td ( per share ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (\(the Series ) Tj ET Q
q 0 0 0 rg BT 98.88 543.60 Td (A) Tj ET Q
q 0 0 0 rg BT 106.21 543.60 Td ( preferred stock\). Proceeds from the issuance were allocated on a relative fair value basis between the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (preferred stock and other freestanding financial instruments issued with the preferred stock. ) Tj ET Q
q 0 0 0 rg BT 455.74 530.40 Td (The preferred stock is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.20 Td (classified as mezzanine equity and is accreted to its redemption value. ) Tj ET Q
q 0 0 0 rg BT 360.33 517.20 Td (Additional information is provided in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 504.00 Td (Note�13) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 85.13 504.00 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.60 Td (Compr) Tj ET Q
q 0 0 0 rg BT 83.41 477.60 Td (ehensive Income) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.70 477.60 Td (�Comprehensive income consists of net earnings and other gains and losses af) Tj ET Q
q 0 0 0 rg BT 510.29 477.60 Td (fecting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (shareholders�) Tj ET Q
q 0 0 0 rg BT 108.44 464.40 Td ( equity that, under U. S. GAAP) Tj ET Q
q 0 0 0 rg BT 245.01 464.40 Td (, are excluded from net earnings. Other comprehensive income \(loss\) ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.20 Td (includes changes in prior service costs and net actuarial losses from pension and postretirement benefit plans, net of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 438.00 Td (taxes, unrealized gains or losses resulting from foreign currency translation, and changes in the fair value of interest ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.80 Td (rate swap agreements, net of taxes, to the extent that they are ef) Tj ET Q
q 0 0 0 rg BT 328.96 424.80 Td (fective. ) Tj ET Q
q 0 0 0 rg BT 363.77 424.80 Td (As of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.66 424.80 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.07 424.80 Td (, there were no amounts ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.60 Td (in other comprehensive income \(loss\) related to the interest rate swaps as such were settled in fiscal 2018, and all ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.40 Td (previously unrealized changes in other comprehensive income \(loss\) were recognized in earnings. Refer to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.91 398.40 Td (Note�7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.54 398.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.20 Td (for additional discussion on the swap termination.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (Earnings Per) Tj ET Q
q 0 0 0 rg BT 111.83 358.80 Td ( Shar) Tj ET Q
q 0 0 0 rg BT 137.00 358.80 Td (e) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 141.88 358.80 Td (�Basic earnings per share is calculated by dividing net earnings attributable to common ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.60 Td (shareholders by the weighted average common and Class�B shares outstanding for the period. Diluted earnings per ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.40 Td (share calculation incorporated the shares utilized in the basic calculation but also included the dilutive ef) Tj ET Q
q 0 0 0 rg BT 510.11 332.40 Td (fect, if any) Tj ET Q
q 0 0 0 rg BT 556.73 332.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.20 Td (of the assumed exercise of securities, including the ef) Tj ET Q
q 0 0 0 rg BT 285.30 319.20 Td (fect of shares issuable under the Company�) Tj ET Q
q 0 0 0 rg BT 474.69 319.20 Td (s share-based ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (incentive plans. In connection with the issuance of the Series�) Tj ET Q
q 0 0 0 rg BT 320.34 306.00 Td (A) Tj ET Q
q 0 0 0 rg BT 327.68 306.00 Td ( preferred stock and detachable warrants on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.80 Td (January�31, 2018, the Company now has a two-class capital structure and applies the two-class method in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (calculation of earnings per share. ) Tj ET Q
q 0 0 0 rg BT 198.24 279.60 Td (The two-class method adjusts earnings to incorporate dividends declared on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.40 Td (common stock, preferred stock, and other securities in distributed earnings. In addition, it also incorporates ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.20 Td (participating rights in other securities in undistributed earnings. ) Tj ET Q
q 0 0 0 rg BT 331.36 253.20 Td (Additional information is provided in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.09 253.20 Td (Note�15) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.22 253.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.80 Td (Adopted ) Tj ET Q
q 0 0 0 rg BT 92.49 226.80 Td (Accounting Pr) Tj ET Q
q 0 0 0 rg BT 160.42 226.80 Td (onouncements) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 227.64 226.80 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.40 Td (ASU 2016-07�In March 2016, the Financial ) Tj ET Q
q 0 0 0 rg BT 252.55 200.40 Td (Accounting Standards Board \(F) Tj ET Q
q 0 0 0 rg BT 391.35 200.40 Td (ASB\) issued an ) Tj ET Q
q 0 0 0 rg BT 461.94 200.40 Td (Accounting Standards ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.20 Td (Update \(ASU\) simplifying the transition to the equity method of accounting. ) Tj ET Q
q 0 0 0 rg BT 389.52 187.20 Td (The new guidance eliminates the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 174.00 Td (requirement to apply the equity method of accounting retrospectively when a reporting entity obtains significant ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.80 Td (influence over a previously held investment. ) Tj ET Q
q 0 0 0 rg BT 248.05 160.80 Td (The Company adopted this standard ef) Tj ET Q
q 0 0 0 rg BT 418.00 160.80 Td (fective July�1, 2017. ) Tj ET Q
q 0 0 0 rg BT 510.06 160.80 Td (This ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.60 Td (guidance was applied to one investment during the fiscal year) Tj ET Q
q 0 0 0 rg BT 321.11 147.60 Td (, which simplified the transition from the cost method ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.40 Td (to equity method. ) Tj ET Q
q 0 0 0 rg BT 129.85 134.40 Td (The application did not have any other impact on the Company�) Tj ET Q
q 0 0 0 rg BT 410.88 134.40 Td (s results of operations, cash ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.20 Td (flows, or disclosures.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.80 Td (ASU 2016-09�In March 2016, as a part of its simplification initiative, the F) Tj ET Q
q 0 0 0 rg BT 387.69 94.80 Td (ASB issued guidance on the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.60 Td (accounting for employee share-based payments. ) Tj ET Q
q 0 0 0 rg BT 264.22 81.60 Td (The new guidance is intended to simplify several aspects of the ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (either equity or liabilities, and classification on the statement of cash flows. ) Tj ET Q
q 0 0 0 rg BT 384.60 741.40 Td (The Company adopted this standard ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 728.20 Td (fective July�1, 2017.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (The adoption of this guidance resulted in the prospective recognition of realized excess tax benefits related to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (exercise or vesting of share-based awards in the Consolidated Statements of Earnings instead of in additional paid-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (in capital within the Consolidated Balance Sheets. See ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.25 675.40 Td (Note�8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 321.88 675.40 Td ( for discussion of the credits to income tax expense ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (recorded in the Consolidated Statements of Earnings. Using a modified retrospective application, the Company has ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (elected to recognize forfeitures as they occur and recorded a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.52 649.00 Td ($1.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.30 649.00 Td ( increase to additional paid-in capital, a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td ($0.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 103.78 635.80 Td ( reduction to retained earnings, and a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.33 635.80 Td ($0.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.11 635.80 Td ( reduction to deferred taxes to reflect the incremental ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (share-based compensation expense, net of the related tax impacts, that would have been recognized in prior years ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (under the modified guidance. Presentation requirements for cash flows related to employee taxes paid using ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (withheld shares had no impact to all periods presented as such cash flows have historically been presented as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (financing activities. ) Tj ET Q
q 0 0 0 rg BT 139.30 583.00 Td (The Company no longer classifies excess tax benefits related to share-based awards as a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (financing cash inflow and an operating cash outflow) Tj ET Q
q 0 0 0 rg BT 279.91 569.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 285.21 569.80 Td (This classification requirement was adopted prospectively ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (and, as such, the Consolidated Statements of Cash Flows have not been retrospectively adjusted.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (ASU 2018-02�In February 2018, the F) Tj ET Q
q 0 0 0 rg BT 225.78 530.20 Td (ASB issued guidance regarding the reclassification of certain tax ef) Tj ET Q
q 0 0 0 rg BT 522.17 530.20 Td (fects ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (from accumulated other comprehensive loss. ) Tj ET Q
q 0 0 0 rg BT 249.57 517.00 Td (This amended guidance allows a reclassification from accumulated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (other comprehensive loss to retained earnings for stranded tax ef) Tj ET Q
q 0 0 0 rg BT 334.17 503.80 Td (fects resulting from the ) Tj ET Q
q 0 0 0 rg BT 439.06 503.80 Td (T) Tj ET Q
q 0 0 0 rg BT 445.01 503.80 Td (ax Cuts and Jobs ) Tj ET Q
q 0 0 0 rg BT 521.40 503.80 Td (Act of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (2017 \(the ) Tj ET Q
q 0 0 0 rg BT 94.40 490.60 Td (T) Tj ET Q
q 0 0 0 rg BT 100.35 490.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 149.23 490.60 Td (Act\) which was signed into law on December�22, 2017. ) Tj ET Q
q 0 0 0 rg BT 396.47 490.60 Td (The Company early adopted this ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (amended guidance on January�1, 2018, and as a result, elected to reclassify ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.33 477.40 Td ($4.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.11 477.40 Td ( of stranded tax ef) Tj ET Q
q 0 0 0 rg BT 515.32 477.40 Td (fects from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (accumulated other comprehensive loss to retained earnings using a specific identification approach. ) Tj ET Q
q 0 0 0 rg BT 490.56 464.20 Td (The adoption of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (this guidance did not have an impact on the Company�) Tj ET Q
q 0 0 0 rg BT 289.81 451.00 Td (s results of operations, cash flows, or disclosures.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (ASU 2018-05�In March 2018, the F) Tj ET Q
q 0 0 0 rg BT 214.78 424.60 Td (ASB issued guidance which incorporates into ) Tj ET Q
q 0 0 0 rg BT 417.64 424.60 Td (ASC�740 � ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 469.28 424.60 Td (Income T) Tj ET Q
q 0 0 0 rg BT 509.51 424.60 Td (axes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (\(ASC�740\), various United States Securities and Exchange Commission \(SEC\) guidance pursuant to the issuance of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (SEC Staf) Tj ET Q
q 0 0 0 rg BT 90.44 398.20 Td (f ) Tj ET Q
q 0 0 0 rg BT 96.25 398.20 Td (Accounting Bulletin No.�1) Tj ET Q
q 0 0 0 rg BT 212.55 398.20 Td (18 \(SAB�1) Tj ET Q
q 0 0 0 rg BT 259.20 398.20 Td (18\), which was ef) Tj ET Q
q 0 0 0 rg BT 337.20 398.20 Td (fective immediately) Tj ET Q
q 0 0 0 rg BT 424.15 398.20 Td (. In December 2017, the SEC ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (issued SAB�1) Tj ET Q
q 0 0 0 rg BT 109.49 385.00 Td (18 to address concerns about reporting entities�) Tj ET Q
q 0 0 0 rg BT 317.00 385.00 Td ( ability to timely comply with the accounting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (requirements to recognize all of the ef) Tj ET Q
q 0 0 0 rg BT 217.17 371.80 Td (fects of the ) Tj ET Q
q 0 0 0 rg BT 268.59 371.80 Td (T) Tj ET Q
q 0 0 0 rg BT 274.54 371.80 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 323.42 371.80 Td (Act in the period of enactment. SAB�1) Tj ET Q
q 0 0 0 rg BT 492.25 371.80 Td (18 allows for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (calculations of the impacts of the ) Tj ET Q
q 0 0 0 rg BT 198.25 358.60 Td (T) Tj ET Q
q 0 0 0 rg BT 204.20 358.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 253.08 358.60 Td (Act to be considered provisional and subject to remeasurement upon ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (further collection, preparation, and analysis of relevant data and disclosure regarding the impacts of the ) Tj ET Q
q 0 0 0 rg BT 507.05 345.40 Td (T) Tj ET Q
q 0 0 0 rg BT 513.00 345.40 Td (ax Reform ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (Act for which accounting under ) Tj ET Q
q 0 0 0 rg BT 192.04 332.20 Td (ASC�740 is incomplete. ) Tj ET Q
q 0 0 0 rg BT 299.29 332.20 Td (As the Company accounted for the tax ef) Tj ET Q
q 0 0 0 rg BT 479.61 332.20 Td (fects of the ) Tj ET Q
q 0 0 0 rg BT 531.03 332.20 Td (T) Tj ET Q
q 0 0 0 rg BT 536.98 332.20 Td (ax ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (Reform ) Tj ET Q
q 0 0 0 rg BT 85.74 319.00 Td (Act on a provisional basis under the guidance of SAB�1) Tj ET Q
q 0 0 0 rg BT 330.34 319.00 Td (18 prior to this update, the adoption of this guidance ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (did not have an impact on the consolidated financial statements.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (Pending ) Tj ET Q
q 0 0 0 rg BT 90.65 279.40 Td (Accounting Pr) Tj ET Q
q 0 0 0 rg BT 158.59 279.40 Td (onouncements) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 225.81 279.40 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (ASU�2014-09�In May 2014, the F) Tj ET Q
q 0 0 0 rg BT 206.23 253.00 Td (ASB issued an accounting standards update that replaces existing revenue ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (recognition guidance. ) Tj ET Q
q 0 0 0 rg BT 147.85 239.80 Td (The new standard requires a company to recognize revenue for the transfer of promised ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (goods or services equal to the amount it expects to receive in exchange for those goods or services. ) Tj ET Q
q 0 0 0 rg BT 488.14 226.60 Td (The standard ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (includes a five-step framework to determine the timing and amount of revenue to recognize related to contracts with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (customers. ) Tj ET Q
q 0 0 0 rg BT 99.49 200.20 Td (Additionally) Tj ET Q
q 0 0 0 rg BT 154.39 200.20 Td (, the standard requires new and significantly enhanced disclosures about the nature, amount, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (timing, and uncertainty of revenue and cash flows from customer contracts as well as judgments made by a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (company when following the framework.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (The Company will adopt the standard beginning July�1, 2018 \(fiscal 2019\). ) Tj ET Q
q 0 0 0 rg BT 383.41 147.40 Td (The two permitted transition methods ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (are the full retrospective method, in which case the standard would be applied to each prior reporting period ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (presented and the cumulative ef) Tj ET Q
q 0 0 0 rg BT 189.69 121.00 Td (fect of applying the standard would be recognized in the earliest period shown; or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (the modified retrospective method, in which case the cumulative ef) Tj ET Q
q 0 0 0 rg BT 345.47 107.80 Td (fect of applying the standard would be ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (recognized at the date of initial application. ) Tj ET Q
q 0 0 0 rg BT 243.45 94.60 Td (The Company will adopt the standard using the modified retrospective ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (method.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 60.20 Td (The Company is in the process of assessing and documenting the ef) Tj ET Q
q 0 0 0 rg BT 347.66 60.20 Td (fect of the adoption of this standard on our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 47.00 Td (consolidated financial statements and related disclosures related to advertising, circulation, and other revenues, and ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (70) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (completing the design and implementation of related controls. Based on our assessment to date, the Company does ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (not believe the adoption of the standard will change the timing of revenue recognition for most of our revenue ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (contracts, except for those with value-added items or that require combination under the standard. ) Tj ET Q
q 0 0 0 rg BT 482.93 715.00 Td (W) Tj ET Q
q 0 0 0 rg BT 492.43 715.00 Td (e do not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (anticipate those impacts will have a material ef) Tj ET Q
q 0 0 0 rg BT 256.58 701.80 Td (fect on our consolidated revenues subject to completion of our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (evaluation. ) Tj ET Q
q 0 0 0 rg BT 101.12 688.60 Td (While the Company does not expect material changes to the amount or timing of our revenue ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (recognition, the Company will significantly expand our future disclosures on both a quarterly and annual basis as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (required under the standard.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (ASU�2016-01�In January 2016, the F) Tj ET Q
q 0 0 0 rg BT 220.28 635.80 Td (ASB issued guidance to improve and simplify accounting for financial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (instruments. ) Tj ET Q
q 0 0 0 rg BT 106.63 622.60 Td (The updated guidance includes several provisions that are not applicable to the Company�) Tj ET Q
q 0 0 0 rg BT 501.90 622.60 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (consolidated financial statements, with the exception of changes to fair value disclosure. Under the new guidance, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (public entities are no longer required to disclose the methods and significant assumptions used to estimate fair value ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (of financial instruments measured at amortized cost on the consolidated balance sheets. It also requires public ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (entities to use the exit price when measuring the fair value of financial instruments for disclosure purposes. ) Tj ET Q
q 0 0 0 rg BT 523.89 569.80 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (guidance is ef) Tj ET Q
q 0 0 0 rg BT 110.89 556.60 Td (fective for the Company in the first quarter of fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 368.50 556.60 Td (The adoption of this guidance requires a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (change in our disclosures only and it is not expected to have an impact on our results of operations or cash flows.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (ASU�2016-02�In February 2016, the F) Tj ET Q
q 0 0 0 rg BT 225.78 517.00 Td (ASB issued an accounting standards update that replaces existing lease ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (accounting standards. ) Tj ET Q
q 0 0 0 rg BT 147.86 503.80 Td (The new standard requires lessees to recognize on the balance sheet a right-of use asset, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (representing its right to use the underlying asset for the lease term, and a lease liability for all leases with terms ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (greater than 12 months. ) Tj ET Q
q 0 0 0 rg BT 156.41 477.40 Td (The guidance also requires qualitative and quantitative disclosures designed to assess the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (amount, timing, and uncertainty of cash flows arising from leases. ) Tj ET Q
q 0 0 0 rg BT 343.37 464.20 Td (T) Tj ET Q
q 0 0 0 rg BT 349.70 464.20 Td (reatment of lease payments in the statement of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (earnings and statement of cash flows is relatively unchanged from previous guidance. ) Tj ET Q
q 0 0 0 rg BT 429.49 451.00 Td (The standard is to be applied ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (under the modified retrospective method, with elective reliefs, which requires application of the new guidance for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (all periods presented. ) Tj ET Q
q 0 0 0 rg BT 146.33 424.60 Td (The F) Tj ET Q
q 0 0 0 rg BT 171.48 424.60 Td (ASB continues to issue amendments to further clarify provisions of this guidance. ) Tj ET Q
q 0 0 0 rg BT 534.52 424.60 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (standard, including the amendments made since initial issuance, is ef) Tj ET Q
q 0 0 0 rg BT 353.13 411.40 Td (fective for the Company beginning July�1, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (2019, with early adoption permitted. ) Tj ET Q
q 0 0 0 rg BT 213.24 398.20 Td (The Company is currently in the process of evaluating our existing lease ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (portfolios, including accumulating all of the necessary information required to properly account for the leases under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (the new standard. ) Tj ET Q
q 0 0 0 rg BT 129.42 371.80 Td (As such, the Company is currently evaluating the ef) Tj ET Q
q 0 0 0 rg BT 357.41 371.80 Td (fect the guidance will have on our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (consolidated financial statements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (ASU�2016-13�In June 2016, the F) Tj ET Q
q 0 0 0 rg BT 206.23 332.20 Td (ASB issued a standard that replaces the current incurred loss methodology for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (recognizing credit losses with a current expected credit loss methodology) Tj ET Q
q 0 0 0 rg BT 372.16 319.00 Td (. Under this standard, the establishment of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (an allowance for credit losses reflects all relevant information about past events, current conditions, and reasonable ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (supportable forecasts rather than delaying the recognition of the full amount of a credit loss until the loss is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (probable of occurring. ) Tj ET Q
q 0 0 0 rg BT 150.60 279.40 Td (The new standard changes the impairment model for most financial assets and certain other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (instruments, including trade receivables. ) Tj ET Q
q 0 0 0 rg BT 230.23 266.20 Td (A) Tj ET Q
q 0 0 0 rg BT 237.56 266.20 Td ( modified retrospective implementation of this standard is ef) Tj ET Q
q 0 0 0 rg BT 503.13 266.20 Td (fective in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (Company�) Tj ET Q
q 0 0 0 rg BT 95.83 253.00 Td (s first quarter of fiscal 2021, with early adoption permitted in the first quarter of fiscal 2020. ) Tj ET Q
q 0 0 0 rg BT 504.05 253.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (Company is currently evaluating the impact this guidance will have on our consolidated financial statements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (ASU�2016-15�In ) Tj ET Q
q 0 0 0 rg BT 133.72 213.40 Td (August 2016, the F) Tj ET Q
q 0 0 0 rg BT 217.25 213.40 Td (ASB issued an accounting standards update clarifying the classification of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (certain cash receipts and payments in the statement of cash flows. ) Tj ET Q
q 0 0 0 rg BT 341.81 200.20 Td (The update is intended to reduce the diversity in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (practice around how certain transactions are classified within the statement of cash flows. Retrospective adoption is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (required in our first quarter of fiscal 2019 with early adoption permitted, including adoption in an interim period. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (The Company is currently evaluating the impact this update will have on its consolidated financial statements; ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (however) Tj ET Q
q 0 0 0 rg BT 87.43 147.40 Td (, the adoption is not expected to have a material impact in the presentation of our Consolidated Statements ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (of Cash Flows.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (ASU�2017-01�In January 2017, the F) Tj ET Q
q 0 0 0 rg BT 220.28 107.80 Td (ASB issued an accounting standards update that clarifies the definition of a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (business and adds guidance to assist entities in the determination of whether an acquisition \(or disposal\) represents ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (assets or a business. ) Tj ET Q
q 0 0 0 rg BT 140.54 81.40 Td (The update provides a test to determine whether or not an acquisition is a business. If ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (substantially all of the fair value of the assets acquired is concentrated in a single asset or a group of similar ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 Td (identifiable assets, the acquired assets do not represent a business. If this test is not met, the update provides further ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (71) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (guidance to evaluate if the acquisition represents a business. Prospective adoption is required in the first quarter of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (fiscal 2019. Early adoption is permitted if certain transaction criteria are met. ) Tj ET Q
q 0 0 0 rg BT 391.89 728.20 Td (The Company does not believe the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (adoption of this update will have a material impact prospectively) Tj ET Q
q 0 0 0 rg BT 334.89 715.00 Td (, to the Company�) Tj ET Q
q 0 0 0 rg BT 413.72 715.00 Td (s consolidated financial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (statements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (ASU�2017-04�In January 2017, the F) Tj ET Q
q 0 0 0 rg BT 220.28 675.40 Td (ASB issued an accounting standards update that simplifies the subsequent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (measurement of goodwill by eliminating Step�2 of the goodwill impairment test. ) Tj ET Q
q 0 0 0 rg BT 406.32 662.20 Td (The Step�2 test requires an entity ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (to calculate the implied fair value of goodwill to measure a goodwill impairment char) Tj ET Q
q 0 0 0 rg BT 426.43 649.00 Td (ge. Instead, an entity will ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (record an impairment char) Tj ET Q
q 0 0 0 rg BT 166.16 635.80 Td (ge based on the excess of a reporting unit�) Tj ET Q
q 0 0 0 rg BT 351.27 635.80 Td (s carrying value over its fair value determined ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (in Step�1. ) Tj ET Q
q 0 0 0 rg BT 94.41 622.60 Td (This update also eliminates the qualitative assessment requirements for a reporting unit with zero or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (negative carrying value. Prospective adoption is required in the first quarter of fiscal 2021, with early adoption ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (permitted. ) Tj ET Q
q 0 0 0 rg BT 97.45 596.20 Td (The Company is currently evaluating the impact this update will have on its consolidated financial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (statements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (ASU�2017-07�In March 2017, the F) Tj ET Q
q 0 0 0 rg BT 214.78 556.60 Td (ASB issued an accounting standards update on the presentation of net periodic ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (pension and postretirement benefit costs. ) Tj ET Q
q 0 0 0 rg BT 232.48 543.40 Td (This guidance revises how employers that sponsor defined benefit pension ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (and other postretirement plans present the net periodic benefit costs in their income statement and requires that the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (service cost component of net periodic benefit costs be presented in the same line items as other employee ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (compensation costs for the related employees. Of the components of net periodic benefit costs, only the service cost ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (component will be eligible for asset capitalization. ) Tj ET Q
q 0 0 0 rg BT 274.62 490.60 Td (The other components of net periodic benefit costs must be ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (presented separately from the line items that include the service cost and outside of the income from operations ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (subtotal. ) Tj ET Q
q 0 0 0 rg BT 90.13 464.20 Td (The update is ef) Tj ET Q
q 0 0 0 rg BT 160.49 464.20 Td (fective for the first quarter of fiscal 2019, with early adoption permitted. ) Tj ET Q
q 0 0 0 rg BT 481.01 464.20 Td (The adoption is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (expected to require reclassification of expenses in the Consolidated Statements of Earnings; however) Tj ET Q
q 0 0 0 rg BT 494.31 451.00 Td (, it is not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (expected to have an impact on the Company�) Tj ET Q
q 0 0 0 rg BT 248.24 437.80 Td (s operating results or cash flows.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (ASU�2017-09�In May 2017, the F) Tj ET Q
q 0 0 0 rg BT 206.23 411.40 Td (ASB issued guidance to clarify guidance related to changes in terms or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (conditions of a share-based payment award. ) Tj ET Q
q 0 0 0 rg BT 245.59 398.20 Td (The purpose of this update is to provide guidance about which changes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (to the terms or conditions of a share-based payment award require an entity to apply modification accounting in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (ASC�718 � ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 101.65 371.80 Td (Compensation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 167.95 371.80 Td (�) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 173.45 371.80 Td ( Stock Compensation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.33 371.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 271.63 371.80 Td (The ef) Tj ET Q
q 0 0 0 rg BT 299.83 371.80 Td (fective date is the first quarter of fiscal 2019 with early ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (adoption permitted. ) Tj ET Q
q 0 0 0 rg BT 138.70 358.60 Td (The Company does not expect the adoption of this guidance to have a material impact on our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (results of operations, cash flows, or disclosures.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (ASU�2017-12�In ) Tj ET Q
q 0 0 0 rg BT 133.72 319.00 Td (August 2017, the F) Tj ET Q
q 0 0 0 rg BT 217.25 319.00 Td (ASB issued guidance amending hedge accounting requirements. ) Tj ET Q
q 0 0 0 rg BT 502.97 319.00 Td (The purpose ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (of this guidance is to better align a company�) Tj ET Q
q 0 0 0 rg BT 247.95 305.80 Td (s risk management activities and financial reporting requirements, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (to simplify the application of hedge accounting. ) Tj ET Q
q 0 0 0 rg BT 263.02 292.60 Td (The ef) Tj ET Q
q 0 0 0 rg BT 291.22 292.60 Td (fective date is the first quarter of fiscal 2020, with early ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (adoption permitted. ) Tj ET Q
q 0 0 0 rg BT 138.70 279.40 Td (The Company does not expect the adoption of this guidance to have a material impact on our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (results of operations, cash flows, or disclosures.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (2. ) Tj ET Q
q 0 0 0 rg BT 63.14 226.60 Td (Acquisitions) Tj ET Q
BT /F1 11.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 199.90 Td (Fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 172.90 Td (On January�31, 2018, Meredith completed its acquisition of all the outstanding shares of ) Tj ET Q
q 0 0 0 rg BT 440.83 172.90 Td (T) Tj ET Q
q 0 0 0 rg BT 447.17 172.90 Td (ime for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 481.99 172.90 Td ($18.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 512.24 172.90 Td ( per share, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 159.70 Td (for a total transaction value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 185.00 159.70 Td ($3.2 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 235.73 159.70 Td (, including the repayment of ) Tj ET Q
q 0 0 0 rg BT 362.60 159.70 Td (T) Tj ET Q
q 0 0 0 rg BT 368.94 159.70 Td (ime�) Tj ET Q
q 0 0 0 rg BT 388.49 159.70 Td (s outstanding debt. ) Tj ET Q
q 0 0 0 rg BT 473.43 159.70 Td (As part of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 146.50 Td (Acquisition, Meredith also repaid its outstanding debt. ) Tj ET Q
q 0 0 0 rg BT 292.07 146.50 Td (These transactions were funded through a combination of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 133.30 Td (borrowings under the Company�) Tj ET Q
q 0 0 0 rg BT 192.67 133.30 Td (s new ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.78 133.30 Td ($1.8 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.50 133.30 Td ( secured term loan facility) Tj ET Q
q 0 0 0 rg BT 385.63 133.30 Td (, the issuance of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.25 133.30 Td ($1.4 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.97 133.30 Td ( of senior ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 120.10 Td (unsecured notes, the issuance of preferred equity) Tj ET Q
q 0 0 0 rg BT 264.01 120.10 Td (, and cash on hand \(refer to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 386.79 120.10 Td (Note�7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.42 120.10 Td ( for additional information on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 106.90 Td (the long-term debt and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 152.64 106.90 Td (Note�13) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 187.77 106.90 Td ( for additional information on the preferred equity\).) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 80.50 Td (In accordance with the mer) Tj ET Q
q 0 0 0 rg BT 169.52 80.50 Td (ger agreement, certain of ) Tj ET Q
q 0 0 0 rg BT 282.00 80.50 Td (T) Tj ET Q
q 0 0 0 rg BT 288.34 80.50 Td (ime�) Tj ET Q
q 0 0 0 rg BT 307.89 80.50 Td (s outstanding restricted stock units, performance stock ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 67.30 Td (units, and in-the-money stock options were immediately vested, converted into the right to receive $) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.10 67.30 Td (18.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 515.85 67.30 Td ( per share, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 54.10 Td (and paid in cash. ) Tj ET Q
q 0 0 0 rg BT 126.47 54.10 Td (The value of these awards was apportioned between total purchase price consideration and ) Tj ET Q
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q 0 0 0 rg BT 301.00 31.60 Td (72) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (immediate expense. ) Tj ET Q
q 0 0 0 rg BT 139.91 741.40 Td (This expense is included in the acquisition, disposition, and restructuring related activities line ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (on the Consolidated Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 247.67 728.20 Td (Additionally) Tj ET Q
q 0 0 0 rg BT 302.56 728.20 Td (, certain of ) Tj ET Q
q 0 0 0 rg BT 352.45 728.20 Td (T) Tj ET Q
q 0 0 0 rg BT 358.78 728.20 Td (ime�) Tj ET Q
q 0 0 0 rg BT 378.33 728.20 Td (s outstanding stock options and restricted ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (stock units were converted into mirror awards exercisable or earned in Meredith common stock. ) Tj ET Q
q 0 0 0 rg BT 475.30 715.00 Td (The conversion ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (was based on a ratio of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.86 701.80 Td ($18.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 184.11 701.80 Td ( to the volume-weighted average per share closing price for Meredith�) Tj ET Q
q 0 0 0 rg BT 491.99 701.80 Td (s stock on the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (ten consecutive trading days ended on the complete trading day immediately prior to the acquisition closing date. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (The value of these awards was apportioned between total purchase price consideration and unearned compensation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (to be recognized over the remaining original vesting periods of the awards.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (The following table summarizes the aggregate purchase price consideration paid to acquire ) Tj ET Q
q 0 0 0 rg BT 452.98 635.80 Td (T) Tj ET Q
q 0 0 0 rg BT 459.31 635.80 Td (ime:) Tj ET Q
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62.50 566.10 419.00 -15.00 re f
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481.50 566.10 67.00 -15.00 re f
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62.50 536.10 419.00 -15.00 re f
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481.50 536.10 67.00 -15.00 re f
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481.50 506.10 67.00 -16.00 re f
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62.50 464.10 419.00 -15.00 re f
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481.50 464.10 67.00 -15.00 re f
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481.5 612.1 m
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481.5 596.1 m
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481.5 596.1 m
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62.5 551.1 m
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481.5 551.1 m
548.5 551.1 l
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1.00 w
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62.5 521.1 m
481.5 521.1 l
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1.00 w
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481.5 521.1 m
548.5 521.1 l
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1.00 w
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481.5 464.1 m
548.5 464.1 l
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1.00 w
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62.5 464.1 m
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BT /F3 9.00 Tf ET
q 0 0 0 rg BT 65.00 600.55 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 585.97 Td (Consideration paid to ) Tj ET Q
q 0 0 0 rg BT 162.36 585.97 Td (T) Tj ET Q
q 0 0 0 rg BT 168.79 585.97 Td (ime shareholders) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 244.25 585.97 Td (.....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.00 585.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.25 585.97 Td (1,860.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 570.97 Td (Repayment of ) Tj ET Q
q 0 0 0 rg BT 129.66 570.97 Td (T) Tj ET Q
q 0 0 0 rg BT 136.09 570.97 Td (ime�) Tj ET Q
q 0 0 0 rg BT 155.75 570.97 Td (s outstanding debt, including prepayment penalty) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.50 570.97 Td (......................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.25 570.97 Td (1,327.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 555.97 Td (Cash consideration issued to settle outstanding share-based equity awards) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.00 555.97 Td (................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.05 555.97 Td (37.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 540.97 Td (T) Tj ET Q
q 0 0 0 rg BT 71.33 540.97 Td (otal cash consideration) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 172.75 540.97 Td (...............................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.25 540.97 Td (3,226.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 525.97 Td (Share-based equity awards issued to settle outstanding share-based equity awards) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.75 525.97 Td (...................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.05 525.97 Td (33.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 510.97 Td (T) Tj ET Q
q 0 0 0 rg BT 71.33 510.97 Td (otal consideration issued) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 181.00 510.97 Td (............................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.25 510.97 Td (3,260.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 495.02 Td (Portion of cash settlement of outstanding share-based equity awards recognized as expense) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.00 494.97 Td (....) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.85 495.02 Td (\(9.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 544.30 495.02 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 479.97 Td (Portion of share-based equity awards issued to be recognized as an expense, primarily) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 468.97 Td (through fiscal 2021) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 150.75 468.97 Td (.......................................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.35 469.02 Td (\(24.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 544.30 469.02 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 453.97 Td (T) Tj ET Q
q 0 0 0 rg BT 70.95 453.97 Td (otal purchase price consideration) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.75 453.97 Td (...............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.00 453.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.25 453.97 Td (3,226.8) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 423.20 Td (This transaction created a premier media and marketing company serving ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.21 423.20 Td (175 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.24 423.20 Td ( ) Tj ET Q
q 0 0 0 rg BT 429.38 423.20 Td (American consumers. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 410.00 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 410.00 Td (s brands now have a readership of more than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.84 410.00 Td (120 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.87 410.00 Td ( and paid circulation of more than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 495.68 410.00 Td (40 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 541.21 410.00 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 396.80 Td (The acquisition also increased Meredith�) Tj ET Q
q 0 0 0 rg BT 229.00 396.80 Td (s digital position with nearly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 357.62 396.80 Td (135 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.65 396.80 Td ( monthly unique visitors in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 383.60 Td (U.S. ) Tj ET Q
q 0 0 0 rg BT 72.11 383.60 Td (While the majority of ) Tj ET Q
q 0 0 0 rg BT 169.66 383.60 Td (T) Tj ET Q
q 0 0 0 rg BT 176.00 383.60 Td (ime�) Tj ET Q
q 0 0 0 rg BT 195.55 383.60 Td (s operations are reported in Meredith�) Tj ET Q
q 0 0 0 rg BT 361.41 383.60 Td (s national media segment, one business unit ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 370.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.71 370.40 Td (T) Tj ET Q
q 0 0 0 rg BT 68.05 370.40 Td (ime is reported in Meredith�) Tj ET Q
q 0 0 0 rg BT 191.46 370.40 Td (s local media segment and certain expenses are reported in unallocated corporate.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (73) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (The Company accounted for this acquisition as a business combination under the acquisition method of accounting. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (The following table summarizes the preliminary purchase price allocation of fair values of the assets acquired and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (liabilities assumed at the date of acquisition. ) Tj ET Q
q 0 0 0 rg BT 247.75 715.00 Td (The fair values of the assets acquired and liabilities assumed were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (based on management�) Tj ET Q
q 0 0 0 rg BT 150.80 701.80 Td (s preliminary estimates of the fair values of ) Tj ET Q
q 0 0 0 rg BT 344.26 701.80 Td (T) Tj ET Q
q 0 0 0 rg BT 350.59 701.80 Td (ime�) Tj ET Q
q 0 0 0 rg BT 370.14 701.80 Td (s net assets. ) Tj ET Q
q 0 0 0 rg BT 424.33 701.80 Td (The estimated fair values of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (net assets and resulting goodwill are subject to the Company finalizing its analysis of the fair value of ) Tj ET Q
q 0 0 0 rg BT 500.08 688.60 Td (T) Tj ET Q
q 0 0 0 rg BT 506.41 688.60 Td (ime�) Tj ET Q
q 0 0 0 rg BT 525.96 688.60 Td (s assets ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (and liabilities as of the acquisition date, and are subject to change pending the final valuation of these assets and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (liabilities. In addition, information unknown at the time of the ) Tj ET Q
q 0 0 0 rg BT 325.36 662.20 Td (T) Tj ET Q
q 0 0 0 rg BT 331.69 662.20 Td (ime acquisition could result in adjustments to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (respective fair values and resulting goodwill. Dif) Tj ET Q
q 0 0 0 rg BT 265.16 649.00 Td (ferences between the preliminary and final estimated fair values ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (could be material. ) Tj ET Q
q 0 0 0 rg BT 131.25 635.80 Td (As additional information is obtained about these assets and liabilities within the measurement ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (period \(not to exceed one year from the date of acquisition\), the Company will refine its estimates of fair value and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (reallocate the purchase price.) Tj ET Q
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445.50 541.70 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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95.50 511.70 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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445.50 511.70 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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95.50 481.70 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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445.50 481.70 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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95.50 451.70 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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445.50 451.70 70.00 -15.00 re f
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95.50 421.70 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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445.50 421.70 70.00 -15.00 re f
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95.50 391.70 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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445.50 391.70 70.00 -15.00 re f
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95.50 361.70 350.00 -15.00 re f
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445.50 361.70 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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95.50 331.70 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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445.50 331.70 70.00 -15.00 re f
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95.50 301.70 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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445.50 301.70 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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95.50 271.70 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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445.50 271.70 70.00 -15.00 re f
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95.5 585.7 m
445.5 585.7 l
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95.5 571.7 m
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445.5 585.7 m
515.5 585.7 l
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3 M
445.5 571.7 m
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445.5 571.7 m
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445.5 496.70000000000005 m
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445.5 436.70000000000005 m
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.50 561.57 Td (..................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.00 561.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 561.57 Td (399.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 546.57 Td (Accounts receivable) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 189.00 546.57 Td (............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 546.57 Td (290.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 531.57 Td (Inventory) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.25 531.57 Td (.............................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.05 531.57 Td (22.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 516.57 Td (Assets held-for) Tj ET Q
q 0 0 0 rg BT 164.79 516.57 Td (-sale) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.25 516.57 Td (.............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 516.57 Td (1,006.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 501.57 Td (Other current assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.25 501.57 Td (.............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.05 501.57 Td (60.0) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 98.00 486.60 Td (T) Tj ET Q
q 0 0 0 rg BT 104.83 486.60 Td (otal curr) Tj ET Q
q 0 0 0 rg BT 145.46 486.60 Td (ent assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 191.75 486.57 Td (...........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 486.57 Td (1,779.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 471.57 Td (Property) Tj ET Q
q 0 0 0 rg BT 135.52 471.57 Td (, plant, and equipment) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 235.75 471.57 Td (...........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 471.57 Td (300.8) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.25 456.57 Td (.........................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.05 456.57 Td (98.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 441.57 Td (Intangible assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 172.50 441.57 Td (..................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 441.57 Td (1,146.8) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 240.81 426.60 Td (ed) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 252.25 426.57 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 426.57 Td (3,325.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 411.57 Td (Accounts payable) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.00 411.57 Td (................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 411.57 Td (140.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 396.57 Td (Accrued liabilities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 180.75 396.57 Td (...............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 396.57 Td (195.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 381.57 Td (Current portion of unearned revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 263.25 381.57 Td (.................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 381.57 Td (192.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 366.57 Td (Liabilities associated with assets held-for) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 301.75 366.57 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 366.57 Td (315.7) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 98.00 351.60 Td (T) Tj ET Q
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q 0 0 0 rg BT 145.46 351.60 Td (ent liabilities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 208.25 351.57 Td (.....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 351.57 Td (843.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 336.57 Td (Unearned revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 183.50 336.57 Td (..............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.05 336.57 Td (41.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 321.57 Td (Deferred income taxes) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 200.00 321.57 Td (........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 321.57 Td (172.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 306.57 Td (Other noncurrent liabilities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 219.25 306.57 Td (.................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 306.57 Td (104.4) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 104.83 291.60 Td (otal liabilities assumed) Tj ET Q
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q 0 0 0 rg BT 211.00 291.57 Td (....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 276.57 Td (T) Tj ET Q
q 0 0 0 rg BT 104.33 276.57 Td (otal identified net assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 211.00 276.57 Td (....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 276.57 Td (2,163.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 261.57 Td (Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.25 261.57 Td (.............................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 261.57 Td (1,063.2) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 177.23 246.60 Td (ed) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 189.00 246.57 Td (............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.00 246.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 246.57 Td (3,226.8) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 237.86 202.60 Td ( at the acquisition date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 176.20 Td (Subsequent to the initial purchase price allocation, the Company recorded adjustments that, in the aggregate, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 163.00 Td (increased goodwill by ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 209.17 163.00 Td (. ) Tj ET Q
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q 0 0 0 rg BT 185.50 149.80 Td (fset by a decrease in deferred tax liabilities and an increase in intangible assets. ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (fair value of assets acquired\):) Tj ET Q
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/GS0 gs
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445.50 647.90 70.00 -14.00 re f
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445.50 619.90 70.00 -14.00 re f
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1.00 w
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95.5 703.9 m
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95.5 689.9 m
445.5 689.9 l
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445.5 703.9 m
515.5 703.9 l
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445.5 689.9 m
515.5 689.9 l
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95.5 619.9 m
445.5 619.9 l
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95.5 605.9 m
445.5 605.9 l
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1.00 w
0 i
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445.5 619.9 m
515.5 619.9 l
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445.5 605.9 m
515.5 605.9 l
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1.00 w
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95.5 576.9 m
445.5 576.9 l
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0 0 0 RG
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1.00 w
0 i
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445.5 576.9 m
515.5 576.9 l
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2.00 w
0 i
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445.5 562.9 l
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BT /F3 9.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 213.75 665.77 Td (...................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.00 665.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 665.77 Td (223.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.00 651.77 Td (Publisher relationships) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 208.25 651.77 Td (.....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 651.77 Td (125.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.00 637.77 Td (Partner relationships) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 200.00 637.77 Td (........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.05 637.77 Td (95.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.00 623.77 Td (Customer relationships) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 211.00 623.77 Td (....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.05 623.77 Td (63.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 609.77 Td (T) Tj ET Q
q 0 0 0 rg BT 104.33 609.77 Td (otal) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 123.00 609.77 Td (....................................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 609.77 Td (506.8) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 98.00 595.80 Td (Intangible assets not subject to amortization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.00 580.77 Td (T) Tj ET Q
q 0 0 0 rg BT 113.33 580.77 Td (rademarks) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.50 580.77 Td (......................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 580.77 Td (640.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 566.77 Td (Intangible assets, net) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 191.75 566.77 Td (...........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.00 566.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 566.77 Td (1,146.8) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 537.00 Td (The weighted average useful life of advertiser relationships is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.98 537.00 Td (3 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 355.44 537.00 Td (, publisher relationships is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 473.68 537.00 Td (7 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.14 537.00 Td (, partner ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 523.80 Td (relationships is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 119.05 523.80 Td (6 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 150.51 523.80 Td (, and customer relationships is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 286.76 523.80 Td (2 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.22 523.80 Td (. Due to the timing of the acquisition and the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 510.60 Td (complexities involved with determining fair value of the intangible assets acquired, the Company has not yet ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 497.40 Td (completed the valuation of the identified intangibles. ) Tj ET Q
q 0 0 0 rg BT 285.01 497.40 Td (The preliminary purchase price allocation has been developed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 484.20 Td (based on preliminary estimates of fair values. ) Tj ET Q
q 0 0 0 rg BT 252.62 484.20 Td (Therefore, there may be adjustments made to the purchase price ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 471.00 Td (allocation that could result in changes to the preliminary fair values allocated, assigned useful lives, and associated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 457.80 Td (amortization recorded.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 431.10 Td (Goodwill is attributable primarily to expected syner) Tj ET Q
q 0 0 0 rg BT 277.69 431.10 Td (gies and the assembled workforces. Of total goodwill recorded ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 417.90 Td (of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 61.91 417.90 Td ($1.1 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 112.64 417.90 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 118.14 417.90 Td ($93.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 177.42 417.90 Td ( is expected to be deductible for income tax purposes.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 390.90 Td (T) Tj ET Q
q 0 0 0 rg BT 56.33 390.90 Td (ransaction and integration costs incurred by Meredith were $) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.91 390.90 Td (59.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.69 390.90 Td ( in fiscal 2018. ) Tj ET Q
q 0 0 0 rg BT 445.62 390.90 Td (These costs are included ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 377.70 Td (in the acquisition, disposition, and restructuring related activities line in the Consolidated Statements of Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 351.00 Td (The following table presents the amounts of ) Tj ET Q
q 0 0 0 rg BT 246.23 351.00 Td (T) Tj ET Q
q 0 0 0 rg BT 252.56 351.00 Td (ime�) Tj ET Q
q 0 0 0 rg BT 272.11 351.00 Td (s revenue and earnings included in Meredith�) Tj ET Q
q 0 0 0 rg BT 470.66 351.00 Td (s Consolidated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 337.80 Td (Statements of Earnings since the date of the acquisition for the years ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.25 337.80 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 444.67 337.80 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.05 337.80 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.05 337.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 492.94 337.80 Td (Also presented ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 324.60 Td (are the unaudited pro-forma consolidated results of operations � revenues, net earnings \(loss\), and diluted net ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 311.40 Td (earnings \(loss\) per share of the combined entity for the years ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 348.73 311.40 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.14 311.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 431.52 311.40 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 453.52 311.40 Td (, as if the acquisition ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 298.20 Td (had occurred on July�1, 2016, the beginning of fiscal 2017:) Tj ET Q
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125.00 245.90 234.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
359.00 245.90 58.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
417.00 245.90 10.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 245.90 59.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
125.00 217.90 234.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
359.00 217.90 58.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
417.00 217.90 10.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 217.90 59.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
125.00 189.90 234.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
359.00 189.90 58.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
417.00 189.90 10.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
427.00 189.90 59.00 -14.00 re f
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1.00 w
0 i
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0 J
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3 M
125 273.9 m
359 273.9 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
125 258.9 m
359 258.9 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
359 273.9 m
417 273.9 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
359 258.9 m
417 258.9 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
417 273.9 m
427 273.9 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
417 258.9 m
427 258.9 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
427 273.9 m
486 273.9 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
427 258.9 m
486 258.9 l
s
0 0 0 RG
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
125 161.89999999999998 m
359 161.89999999999998 l
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0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
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3 M
359 161.89999999999998 m
417 161.89999999999998 l
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0 0 0 RG
/GS0 gs
2.00 w
0 i
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3 M
417 161.89999999999998 m
427 161.89999999999998 l
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 127.50 263.58 Td (Y) Tj ET Q
q 0 0 0 rg BT 133.61 263.58 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 377.50 263.58 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 446.00 263.58 Td (2017) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 127.50 250.15 Td (\(In millions except per shar) Tj ET Q
q 0 0 0 rg BT 226.65 250.15 Td (e data\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 235.77 Td (Actual ) Tj ET Q
q 0 0 0 rg BT 159.47 235.77 Td (T) Tj ET Q
q 0 0 0 rg BT 165.90 235.77 Td (ime total revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 248.25 235.77 Td (.......................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 361.50 235.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 388.00 235.77 Td (625.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 429.50 235.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 470.80 235.77 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 221.77 Td (Actual ) Tj ET Q
q 0 0 0 rg BT 159.47 221.77 Td (T) Tj ET Q
q 0 0 0 rg BT 165.90 221.77 Td (ime net loss) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.75 221.77 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 389.85 221.77 Td (\(74.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.80 221.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 470.80 221.77 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 193.77 Td (Pro-forma total revenue) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 234.50 193.77 Td (............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.75 193.77 Td (3,1) Tj ET Q
q 0 0 0 rg BT 393.50 193.77 Td (15.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.75 193.77 Td (3,669.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 179.77 Td (Pro-forma net earnings \(loss\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.50 179.77 Td (....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 388.00 179.77 Td (223.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.85 179.77 Td (\(28.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 481.80 179.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 165.77 Td (Pro-forma diluted net earnings \(loss\) per share) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 333.50 165.77 Td (........) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 393.55 165.77 Td (3.16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.85 165.77 Td (\(2.37) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 481.80 165.77 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 136.00 Td (The unaudited pro-forma consolidated results above are based on the historical financial statements of Meredith and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 122.80 Td (T) Tj ET Q
q 0 0 0 rg BT 56.33 122.80 Td (ime and are not necessarily indicative of the results of operations that would have been achieved if the acquisition ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 109.60 Td (was completed on July�1, 2016 \(the beginning of the 2017 fiscal year\), and are not indicative of the future operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 96.40 Td (results of the combined company) Tj ET Q
q 0 0 0 rg BT 195.30 96.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 200.61 96.40 Td (This pro-forma financial information is based upon preliminary purchase price ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 83.20 Td (allocations and various assumptions and estimates. ) Tj ET Q
q 0 0 0 rg BT 276.18 83.20 Td (The pro-forma consolidated results of operations include the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 70.00 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 70.00 Td (fects of purchase accounting adjustments, including amortization char) Tj ET Q
q 0 0 0 rg BT 366.05 70.00 Td (ges related to the finite-lived intangible ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 56.80 Td (assets acquired. ) Tj ET Q
q 0 0 0 rg BT 121.58 56.80 Td (The pro-forma totals above also reflect the impact of transactions made to finance the acquisition ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (75) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (\(see ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.46 741.40 Td (Note�7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 100.09 741.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 121.47 741.40 Td (Note�13) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 156.61 741.40 Td (\) and exclude historical interest of each entity and the prepayment penalty) Tj ET Q
q 0 0 0 rg BT 481.18 741.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 486.48 741.40 Td (The impact of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (the discontinued operations have been removed from pro-forma revenue for each of the periods presented. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (Historical intercompany transactions between Meredith and ) Tj ET Q
q 0 0 0 rg BT 315.55 715.00 Td (T) Tj ET Q
q 0 0 0 rg BT 321.88 715.00 Td (ime have also been removed. ) Tj ET Q
q 0 0 0 rg BT 452.41 715.00 Td (T) Tj ET Q
q 0 0 0 rg BT 458.74 715.00 Td (ransaction and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (integration costs related to the acquisition of ) Tj ET Q
q 0 0 0 rg BT 248.05 701.80 Td (T) Tj ET Q
q 0 0 0 rg BT 254.39 701.80 Td (ime have been excluded from the above pro-forma consolidated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (results of operations due to their non-recurring nature. ) Tj ET Q
q 0 0 0 rg BT 290.81 688.60 Td (The pro-forma net earnings \(loss\) were also adjusted for the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (tax ef) Tj ET Q
q 0 0 0 rg BT 74.54 675.40 Td (fects related to the other pro-forma adjustments.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (Included within the pro-forma results above, are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.04 649.00 Td ($26.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 324.32 649.00 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.70 649.00 Td ($202.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.48 649.00 Td ( of impairment char) Tj ET Q
q 0 0 0 rg BT 497.33 649.00 Td (ges for long-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (lived assets for the years ended June�30, 2018, and 2017, respectively) Tj ET Q
q 0 0 0 rg BT 355.37 635.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 360.67 635.80 Td (The pro-forma results above also include ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (restructuring char) Tj ET Q
q 0 0 0 rg BT 127.68 622.60 Td (ges related to the ) Tj ET Q
q 0 0 0 rg BT 205.06 622.60 Td (T) Tj ET Q
q 0 0 0 rg BT 211.40 622.60 Td (ime transaction of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.56 622.60 Td ($150.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 358.34 622.60 Td ( for the year ended June�30, 2018. ) Tj ET Q
q 0 0 0 rg BT 510.27 622.60 Td (There were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (no) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 61.00 609.40 Td ( restructuring char) Tj ET Q
q 0 0 0 rg BT 141.43 609.40 Td (ges related to the acquisition recorded in the year ended June�30, 2017.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 582.70 Td (Fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.50 Td (During fiscal 2017, Meredith paid ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 202.74 569.50 Td ($84.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 262.02 569.50 Td ( for the acquisitions of ) Tj ET Q
q 0 0 0 rg BT 363.55 569.50 Td (WPCH-TV) Tj ET Q
q 0 0 0 rg BT 413.46 569.50 Td ( \(Peachtree ) Tj ET Q
q 0 0 0 rg BT 465.17 569.50 Td (TV\), an independent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.30 Td (television station in ) Tj ET Q
q 0 0 0 rg BT 138.30 556.30 Td (Atlanta, Geor) Tj ET Q
q 0 0 0 rg BT 197.97 556.30 Td (gia, and the assets of a digital lead-generation company in the home services ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.10 Td (market.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 516.70 Td (On December�7, 2016, Meredith acquired the assets of a digital lead-generation company in the home services ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.50 Td (market, which has been rebranded Meredith Performance Marketing by the Company) Tj ET Q
q 0 0 0 rg BT 425.91 503.50 Td (. ) Tj ET Q
q 0 0 0 rg BT 431.21 503.50 Td (The acquisition-date fair ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.30 Td (value of the consideration was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.54 490.30 Td ($21.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 245.82 490.30 Td (, which consisted of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.55 490.30 Td ($13.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.83 490.30 Td ( of cash and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 451.42 490.30 Td ($7.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.21 490.30 Td ( of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.10 Td (contingent consideration. ) Tj ET Q
q 0 0 0 rg BT 163.74 477.10 Td (The contingent consideration arrangement requires the Company to pay contingent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 463.90 Td (payments based on the achievement of certain operational tar) Tj ET Q
q 0 0 0 rg BT 319.19 463.90 Td (gets in fiscal 2017 and on financial performance ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 450.70 Td (during fiscal 2017 through fiscal 2021 measured in terms of earnings before interest, taxes, depreciation, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.50 Td (amortization \(EBITDA\) as defined in the acquisition agreement. ) Tj ET Q
q 0 0 0 rg BT 336.01 437.50 Td (The contingent consideration is not dependent on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.30 Td (the continued employment of the sellers. ) Tj ET Q
q 0 0 0 rg BT 231.56 424.30 Td (The Company estimated the fair value of the contingent consideration ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.10 Td (using a probability-weighted discounted cash flow model. ) Tj ET Q
q 0 0 0 rg BT 307.64 411.10 Td (The fair value is based on significant inputs not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 397.90 Td (observable in the market and thus represents a Level�3 measurement as defined in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.26 397.90 Td (Note�10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.39 397.90 Td (. ) Tj ET Q
q 0 0 0 rg BT 452.69 397.90 Td (The Company paid ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.76 397.90 Td (no) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 550.76 397.90 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 446.30 529.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 493.35 529.57 Td (\(23.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 516.30 529.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 93.00 514.57 Td (T) Tj ET Q
q 0 0 0 rg BT 99.33 514.57 Td (otal identified net assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 207.00 514.57 Td (........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 362.55 514.57 Td (8.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.05 514.57 Td (58.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.05 514.57 Td (66.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 93.00 499.57 Td (Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 135.50 499.57 Td (..................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 357.05 499.57 Td (12.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.05 499.57 Td (1) Tj ET Q
q 0 0 0 rg BT 432.55 499.57 Td (1.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.05 499.57 Td (24.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.00 484.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 357.05 484.57 Td (21.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 393.00 484.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.05 484.57 Td (70.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 463.00 484.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.05 484.57 Td (91.1) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 455.00 Td (The following table provides details of the acquired intangible assets by acquisition:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
90.50 380.70 239.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
329.50 380.70 56.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.50 380.70 10.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.50 380.70 56.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
451.50 380.70 13.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.50 380.70 56.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
90.50 352.70 239.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
329.50 352.70 56.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.50 352.70 10.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.50 352.70 56.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
451.50 352.70 13.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.50 352.70 56.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
90.50 324.70 239.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
329.50 324.70 56.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.50 324.70 10.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.50 324.70 56.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
451.50 324.70 13.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.50 324.70 56.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
90.50 294.70 239.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
329.50 294.70 56.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.50 294.70 10.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.50 294.70 56.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
451.50 294.70 13.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
464.50 294.70 56.00 -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
90.5 430.7 m
329.5 430.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
90.5 394.7 m
329.5 394.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
329.5 430.7 m
385.5 430.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
329.5 394.7 m
385.5 394.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
385.5 430.7 m
395.5 430.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
385.5 394.7 m
395.5 394.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395.5 430.7 m
451.5 430.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395.5 394.7 m
451.5 394.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
451.5 430.7 m
464.5 430.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
451.5 394.7 m
464.5 394.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
464.5 430.7 m
520.5 430.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
464.5 394.7 m
520.5 394.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
329.5 338.7 m
385.5 338.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395.5 338.7 m
451.5 338.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
90.5 338.7 m
329.5 338.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
90.5 324.7 m
329.5 324.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
329.5 338.7 m
385.5 338.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
329.5 324.7 m
385.5 324.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
385.5 338.7 m
395.5 338.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
385.5 324.7 m
395.5 324.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395.5 338.7 m
451.5 338.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395.5 324.7 m
451.5 324.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
451.5 338.7 m
464.5 338.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
451.5 324.7 m
464.5 324.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
464.5 338.7 m
520.5 338.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
464.5 324.7 m
520.5 324.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
90.5 294.7 m
329.5 294.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
329.5 294.7 m
385.5 294.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
385.5 294.7 m
395.5 294.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395.5 294.7 m
451.5 294.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
451.5 294.7 m
464.5 294.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
464.5 294.7 m
520.5 294.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
90.5 280.7 m
329.5 280.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
329.5 280.7 m
385.5 280.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
385.5 280.7 m
395.5 280.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
395.5 280.7 m
451.5 280.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
451.5 280.7 m
464.5 280.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
464.5 280.7 m
520.5 280.7 l
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BT /F3 9.00 Tf ET
q 0 0 0 rg BT 93.00 399.15 Td (\(In millions\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 338.65 419.38 Td (National) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 343.35 409.38 Td (Media) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 332.50 399.38 Td (Acquisition) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 411.05 419.38 Td (Local ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 409.35 409.38 Td (Media ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 398.50 399.38 Td (Acquisition) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 481.05 399.38 Td (T) Tj ET Q
q 0 0 0 rg BT 486.80 399.38 Td (otal) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 93.00 384.75 Td (Intangible assets subject to amortization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 102.00 370.57 Td (Retransmission agreements) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 224.25 370.57 Td (.....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.00 370.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.30 370.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.00 370.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.55 370.57 Td (6.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.00 370.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.55 370.57 Td (6.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 102.00 356.57 Td (Customer list) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.00 356.57 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.55 356.57 Td (4.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.30 356.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.55 356.57 Td (4.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 102.00 342.57 Td (Other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.00 342.57 Td (........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.55 342.57 Td (4.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.55 342.57 Td (0.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.55 342.57 Td (5.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 93.00 328.57 Td (T) Tj ET Q
q 0 0 0 rg BT 99.33 328.57 Td (otal) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 117.00 328.57 Td (............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.55 328.57 Td (8.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.55 328.57 Td (7.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.05 328.57 Td (16.0) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 93.00 313.60 Td (Intangible assets not subject to amortization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 102.00 298.57 Td (FCC licenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.00 298.57 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.30 298.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.05 298.57 Td (50.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.05 298.57 Td (50.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 93.00 284.57 Td (Intangible assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 166.50 284.57 Td (..........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.00 284.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.55 284.57 Td (8.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.00 284.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.05 284.57 Td (57.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.00 284.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.05 284.57 Td (66.4) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 254.50 Td (The useful life of the customer list is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 214.35 254.50 Td (10 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 251.31 254.50 Td (, and other national media intangible assets�) Tj ET Q
q 0 0 0 rg BT 443.85 254.50 Td ( useful life is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 503.73 254.50 Td (5 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.19 254.50 Td (. ) Tj ET Q
q 0 0 0 rg BT 540.49 254.50 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 241.30 Td (useful lives of the retransmission agreements are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 267.18 241.30 Td (10 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 304.14 241.30 Td ( and local media other intangible assets�) Tj ET Q
q 0 0 0 rg BT 479.88 241.30 Td ( useful life is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.75 241.30 Td (4 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 228.10 Td (years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 73.21 228.10 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 201.70 Td (For these acquisitions, goodwill is attributable primarily to expected syner) Tj ET Q
q 0 0 0 rg BT 376.68 201.70 Td (gies and the assembled workforces. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 188.50 Td (Goodwill, with an assigned value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 211.61 188.50 Td ($24.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 270.89 188.50 Td (, is expected to be fully deductible for tax purposes.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 161.50 Td (During fiscal 2017, acquisition related costs of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 258.34 161.50 Td ($0.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.12 161.50 Td ( were incurred. ) Tj ET Q
q 0 0 0 rg BT 380.94 161.50 Td (These costs are included in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 148.30 Td (acquisition, disposition, and restructuring related activities line in the Consolidated Statements of Earnings.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.60 Td (Prior) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 108.40 Td (On December 30, 2014, Meredith acquired ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 241.82 108.40 Td (100 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.44 108.40 Td ( of the outstanding stock of Selectable Media. ) Tj ET Q
q 0 0 0 rg BT 497.61 108.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 95.20 Td (contingent consideration arrangement requires the Company to pay contingent payments based on certain financial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 82.00 Td (tar) Tj ET Q
q 0 0 0 rg BT 61.40 82.00 Td (gets over three fiscal years, primarily based on revenue, as defined in the acquisition agreement. ) Tj ET Q
q 0 0 0 rg BT 486.99 82.00 Td (The final ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.80 Td (payment of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 102.54 68.80 Td ($4.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 156.32 68.80 Td ( was paid in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 238.49 68.80 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 260.49 68.80 Td (.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (77) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (In February 2015, Meredith completed its acquisition of Shape. ) Tj ET Q
q 0 0 0 rg BT 331.77 741.40 Td (The contingent consideration arrangement requires ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (the Company to pay contingent payments based on certain financial tar) Tj ET Q
q 0 0 0 rg BT 362.59 728.20 Td (gets over three fiscal years, primarily based ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (on operating profit, as defined in the acquisition agreement. Revised projections in advertising revenue have ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (resulted in lower projected operating profits and therefore lower estimates to contingent consideration payable than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (originally expected. ) Tj ET Q
q 0 0 0 rg BT 139.91 688.60 Td (The Company recognized non-cash credits to operations of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.60 688.60 Td ($2.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 456.38 688.60 Td ( in fiscal 2018, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.51 688.60 Td ($1.3 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 675.40 Td ( in fiscal 2017, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.54 675.40 Td ($4.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.32 675.40 Td ( in fiscal 2016, to reduce the estimated contingent consideration payable. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (These credits were recorded in the selling, general, and administrative expense line on the Consolidated Statements ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (of Earnings. ) Tj ET Q
q 0 0 0 rg BT 105.91 649.00 Td (As of June 30, 2018, the Company estimates future payments to be ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 403.47 649.00 Td ($19.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 462.75 649.00 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.10 Td (3. Inventories) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 582.70 Td (Inventories consist mainly of paper stock, editorial content, books, and other merchandise and are stated at the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.50 Td (lower of cost or estimated net realizable value. Cost is determined using the first-in, first-out method for books and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.30 Td (weighted average cost method for paper and other merchandise.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 529.90 Td (Ef) Tj ET Q
q 0 0 0 rg BT 60.18 529.90 Td (fective January 1, 2018, the Company prospectively changed its method of accounting for paper inventory from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 516.70 Td (the last-in, first-out \(LIFO\) method to the weighted average cost method. Of total net inventory values shown ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.19 516.70 Td (65 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.50 Td (percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.37 503.50 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.80 503.50 Td (June�30, 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 157.22 503.50 Td (, were determined using the LIFO method. LIFO inventory income included in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.30 Td (Consolidated Statements of Earnings was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 235.44 490.30 Td ($1.3 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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289.22 497.93 14.06 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 289.22 490.30 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
303.28 497.93 48.57 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 303.28 490.30 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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351.85 497.93 5.50 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 351.85 490.30 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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357.35 497.93 53.78 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 357.35 490.30 Td ($1.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.13 490.30 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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413.88 497.93 11.31 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 413.88 490.30 Td (in ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
425.19 497.93 48.57 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 425.19 490.30 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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473.76 497.93 2.75 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 473.76 490.30 Td (,) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.51 490.30 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.89 490.30 Td ($0.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.67 490.30 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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50.00 484.73 11.31 -10.00 re f
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1 1 1 rg
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61.31 484.73 48.57 -10.00 re f
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BT /F2 11.00 Tf ET
1 1 1 rg
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109.88 484.73 2.75 -10.00 re f
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q 0 0 0 rg BT 109.88 477.10 Td (.) Tj ET Q
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150.50 424.40 200.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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350.50 424.40 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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400.50 424.40 10.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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410.50 424.40 50.00 -15.00 re f
/GS0 gs
1 1 1 rg
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150.50 409.40 200.00 -15.00 re f
/GS0 gs
1 1 1 rg
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350.50 409.40 50.00 -15.00 re f
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1 1 1 rg
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400.50 409.40 10.00 -15.00 re f
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1 1 1 rg
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410.50 409.40 50.00 -15.00 re f
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150.50 394.40 200.00 -15.00 re f
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350.50 394.40 50.00 -15.00 re f
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400.50 394.40 10.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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410.50 394.40 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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150.50 364.40 200.00 -15.00 re f
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350.50 364.40 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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400.50 364.40 10.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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410.50 364.40 50.00 -15.00 re f
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150.50 349.40 200.00 -15.00 re f
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0 i
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0 J
0 j
3 M
150.5 453.4 m
350.5 453.4 l
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
150.5 439.4 m
350.5 439.4 l
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
350.5 453.4 m
400.5 453.4 l
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1.00 w
0 i
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0 J
0 j
3 M
350.5 439.4 m
400.5 439.4 l
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1.00 w
0 i
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0 J
0 j
3 M
400.5 453.4 m
410.5 453.4 l
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
400.5 439.4 m
410.5 439.4 l
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
410.5 453.4 m
460.5 453.4 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
410.5 439.4 m
460.5 439.4 l
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1.00 w
0 i
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0 J
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3 M
150.5 379.4 m
350.5 379.4 l
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1.00 w
0 i
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0 J
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3 M
350.5 379.4 m
400.5 379.4 l
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0 0 0 RG
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1.00 w
0 i
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0 J
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3 M
400.5 379.4 m
410.5 379.4 l
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0 0 0 RG
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1.00 w
0 i
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0 J
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3 M
410.5 379.4 m
460.5 379.4 l
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1.00 w
0 i
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3 M
150.5 349.4 m
350.5 349.4 l
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1.00 w
0 i
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3 M
400.5 349.4 m
410.5 349.4 l
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0 0 0 RG
/GS0 gs
2.00 w
0 i
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0 J
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3 M
150.5 334.4 m
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0 0 0 RG
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1.00 w
0 i
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0 J
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3 M
350.5 349.4 m
400.5 349.4 l
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0 0 0 RG
/GS0 gs
2.00 w
0 i
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0 J
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3 M
350.5 334.4 m
400.5 334.4 l
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0 0 0 RG
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2.00 w
0 i
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0 J
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3 M
400.5 334.4 m
410.5 334.4 l
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/GS0 gs
1.00 w
0 i
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0 J
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3 M
410.5 349.4 m
460.5 349.4 l
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 153.00 444.08 Td (June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 365.00 444.08 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 425.00 444.08 Td (2017) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 153.00 428.85 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.00 414.27 Td (Raw materials) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 217.75 414.27 Td (...............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 353.00 414.27 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.00 414.27 Td (32.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.00 414.27 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.00 414.27 Td (13.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.00 399.27 Td (W) Tj ET Q
q 0 0 0 rg BT 162.94 399.27 Td (ork in process) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.00 399.27 Td (............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.55 399.27 Td (9.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 442.55 399.27 Td (8.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.00 384.27 Td (Finished goods) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.50 384.27 Td (..............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.55 384.27 Td (2.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 442.55 384.27 Td (1.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.00 369.27 Td (44.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.00 369.27 Td (23.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.00 354.27 Td (Reserve for LIFO cost valuation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 297.50 354.27 Td (..................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.30 354.27 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.85 354.27 Td (\(1.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 456.30 354.27 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.00 339.27 Td (Inventories) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 204.00 339.27 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 353.00 339.27 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.00 339.27 Td (44.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.00 339.27 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.00 339.27 Td (21.9) Tj ET Q
BT /F2 10.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 295.30 Td (4. ) Tj ET Q
q 0 0 0 rg BT 63.14 295.30 Td (Assets Held-for) Tj ET Q
q 0 0 0 rg BT 135.14 295.30 Td (-Sale, Discontinued Operations, and Dispositions) Tj ET Q
BT /F1 11.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 270.10 Td (Assets Held-for) Tj ET Q
q 0 0 0 rg BT 121.99 270.10 Td (-Sale) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 243.70 Td (The Company classifies assets as being held-for) Tj ET Q
q 0 0 0 rg BT 261.17 243.70 Td (-sale when the following criteria are met: management has ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 230.50 Td (committed to a plan to sell the asset; the asset is available for immediate sale in its present condition; an active ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 217.30 Td (program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated; the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 204.10 Td (sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 190.90 Td (within one year; the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 177.70 Td (value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 164.50 Td (be made or that the plan will be withdrawn. Long-lived assets that are classified as held-for) Tj ET Q
q 0 0 0 rg BT 451.15 164.50 Td (-sale are recorded at the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 151.30 Td (lower of carrying value or fair value less costs to sell. Fair value is based on current market values or discounted ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 138.10 Td (future cash flows using Level�3 inputs determined based on the Company�) Tj ET Q
q 0 0 0 rg BT 376.57 138.10 Td (s experience and knowledge of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 124.90 Td (market, including the use of advisers. Fair value is preliminary and is expected to be finalized upon completion of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 111.70 Td (the sales, which are expected to occur within calendar 2018. ) Tj ET Q
q 0 0 0 rg BT 317.36 111.70 Td (The key assumptions used to determine the fair value ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 98.50 Td (include discount rates, estimated cash flows, royalty rates, and revenue growth rates. ) Tj ET Q
q 0 0 0 rg BT 424.90 98.50 Td (The discount rate used is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 85.30 Td (based on several factors including a weighted average cost of capital analysis, and adjustments for market risk and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 72.10 Td (company specific risk. Estimated cash flows are based upon internally developed estimates of the undiscounted ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 58.90 Td (cash flows attributable to the assets and include only future cash flows that are directly associated with and that are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 45.70 Td (expected to arise as a direct result of the use and eventual disposition of the assets. Royalty rates are based on ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (78) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (comparable licensing agreements and revenue growth rates are based on industry knowledge and historical ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (performance. Property and equipment are not depreciated, and intangibles assets are not amortized once classified ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (as held-for) Tj ET Q
q 0 0 0 rg BT 97.12 715.00 Td (-sale. ) Tj ET Q
q 0 0 0 rg BT 123.19 715.00 Td (The assets and liabilities that are deemed held-for) Tj ET Q
q 0 0 0 rg BT 341.35 715.00 Td (-sale are classified as current based on the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (anticipated disposal date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (The following table presents the major components which are included in assets held-for) Tj ET Q
q 0 0 0 rg BT 440.17 675.40 Td (-sale and liabilities ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (associated with assets held-for) Tj ET Q
q 0 0 0 rg BT 183.88 662.20 Td (-sale \(including ) Tj ET Q
q 0 0 0 rg BT 255.16 662.20 Td (TIME, Sports Illustrated, Fortune, Money) Tj ET Q
q 0 0 0 rg BT 438.67 662.20 Td (, and its investment in ) Tj ET Q
q 0 0 0 rg BT 538.08 662.20 Td (V) Tj ET Q
q 0 0 0 rg BT 545.36 662.20 Td (iant ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (T) Tj ET Q
q 0 0 0 rg BT 55.95 649.00 Td (echnology LLC \(V) Tj ET Q
q 0 0 0 rg BT 138.99 649.00 Td (iant\)\):) Tj ET Q
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134.50 587.50 282.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
416.50 587.50 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
134.50 557.50 282.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
416.50 557.50 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
134.50 527.50 282.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
416.50 527.50 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
134.50 497.50 282.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
416.50 497.50 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
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/GS0 gs
416.50 467.50 60.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
/GS0 gs
416.50 407.50 60.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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416.50 377.50 60.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
416.50 347.50 60.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
134.50 317.50 282.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
416.50 317.50 60.00 -15.00 re f
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/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
134.5 626.5 m
416.5 626.5 l
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1.00 w
0 i
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0 J
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3 M
134.5 602.5 m
416.5 602.5 l
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1.00 w
0 i
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0 J
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3 M
416.5 626.5 m
476.5 626.5 l
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1.00 w
0 i
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0 J
0 j
3 M
416.5 602.5 m
476.5 602.5 l
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0 0 0 RG
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1.00 w
0 i
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3 M
134.5 527.5 m
416.5 527.5 l
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1.00 w
0 i
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3 M
416.5 527.5 m
476.5 527.5 l
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1.00 w
0 i
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3 M
416.5 527.5 m
476.5 527.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
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3 M
134.5 452.5 m
416.5 452.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
416.5 452.5 m
476.5 452.5 l
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0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
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3 M
134.5 437.5 m
416.5 437.5 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
416.5 452.5 m
476.5 452.5 l
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0 0 0 RG
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2.00 w
0 i
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3 M
416.5 437.5 m
476.5 437.5 l
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BT /F1 10.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 253.50 577.37 Td (..........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 419.00 577.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.00 562.37 Td (Accounts receivable, net) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 248.00 562.37 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 453.05 562.37 Td (94.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.00 547.37 Td (Inventories) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 187.50 547.37 Td (..................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 179.25 457.37 Td (.....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.00 382.37 Td (Accrued expenses and other liabilities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.75 382.37 Td (.......................................) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.00 367.37 Td (Current portion of unearned revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.00 367.37 Td (........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.55 367.37 Td (109.4) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 184.46 352.40 Td (ent liabilities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 245.25 352.37 Td (.............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.55 352.37 Td (169.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.00 337.37 Td (Unearned revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 223.25 337.37 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 453.05 337.37 Td (28.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.00 322.37 Td (Other noncurrent liabilities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.25 322.37 Td (.........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.55 322.37 Td (0.7) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 143.33 307.40 Td (otal liabilities associated with assets held-for) Tj ET Q
q 0 0 0 rg BT 350.38 307.40 Td (-sale) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 419.00 307.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.55 307.37 Td (198.4) Tj ET Q
BT /F2 10.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 276.60 Td (Discontinued Operations) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 250.20 Td (A) Tj ET Q
q 0 0 0 rg BT 57.34 250.20 Td ( disposal of a component of an entity or a group of components of an entity is required to be reported as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 237.00 Td (discontinued operations if the disposal represents a strategic shift that has \(or will have\) a major ef) Tj ET Q
q 0 0 0 rg BT 482.95 237.00 Td (fect on an entity�) Tj ET Q
q 0 0 0 rg BT 557.17 237.00 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 535.76 223.80 Td (-sale. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 210.60 Td (When all of the criteria to be classified as held-for) Tj ET Q
q 0 0 0 rg BT 270.60 210.60 Td (-sale are met, including management having the authority to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 197.40 Td (approve the action and committing to a plan to sell the entity) Tj ET Q
q 0 0 0 rg BT 316.58 197.40 Td (, the major assets and liabilities are to be reported as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 184.20 Td (components of total assets and liabilities separate from those balances of the continuing operations. ) Tj ET Q
q 0 0 0 rg BT 489.38 184.20 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 171.00 Td (Consolidated Statements of Earnings reported for current and prior periods shall report the results of operations of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 157.80 Td (the discontinued operations, including any gain or loss recognized, in the period in which a discontinued operation ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 285.29 144.60 Td (-sale. ) Tj ET Q
q 0 0 0 rg BT 311.36 144.60 Td (The results of all discontinued operations, less ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 131.40 Td (applicable income taxes \(benefit\), shall be reported as a component of net earnings separate from the net earnings ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 118.20 Td (from continuing operations.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 91.80 Td (The Company announced after the ) Tj ET Q
q 0 0 0 rg BT 204.25 91.80 Td (Acquisition that it is exploring the sale of the ) Tj ET Q
q 0 0 0 rg BT 405.38 91.80 Td (TIME, Sports Illustrated, Fortune, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 78.60 Td (and Money af) Tj ET Q
q 0 0 0 rg BT 110.89 78.60 Td (filiated brands and its investment in ) Tj ET Q
q 0 0 0 rg BT 270.77 78.60 Td (V) Tj ET Q
q 0 0 0 rg BT 278.06 78.60 Td (iant. Management expects these sales to close during calendar ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 65.40 Td (2018. In accordance with accounting guidance, a business that, on acquisition, or within a short period following ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 52.20 Td (the acquisition \(usually within three months\), meets the criteria to be classified as held-for) Tj ET Q
q 0 0 0 rg BT 446.89 52.20 Td (-sale is also considered a ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (79) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (discontinued operation. ) Tj ET Q
q 0 0 0 rg BT 155.40 741.40 Td (As all of the required criteria for held-for) Tj ET Q
q 0 0 0 rg BT 336.29 741.40 Td (-sale classification were met, the assets and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (liabilities related to these operations have been included as assets held-for) Tj ET Q
q 0 0 0 rg BT 374.78 728.20 Td (-sale and liabilities associated with assets ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (held�for) Tj ET Q
q 0 0 0 rg BT 87.04 715.00 Td (-sale in the Consolidated Balance Sheets as of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.32 715.00 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 353.74 715.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 359.04 715.00 Td (The revenue and expenses, along with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (associated taxes, for these operations were included in the loss from discontinued operations, net of income taxes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (line on the Consolidated Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 266.91 688.60 Td (All discontinued operations relate to the national media segment.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (Prior to the ) Tj ET Q
q 0 0 0 rg BT 101.64 662.20 Td (Acquisition, ) Tj ET Q
q 0 0 0 rg BT 158.27 662.20 Td (T) Tj ET Q
q 0 0 0 rg BT 164.60 662.20 Td (ime entered into an agreement to sell the Golf brand. ) Tj ET Q
q 0 0 0 rg BT 399.29 662.20 Td (This sale closed in February 2018. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (Revenue and expenses from the date of the acquisition until disposal along with associated taxes for the Golf brand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (were included in the loss from discontinued operations, net of income taxes line on the Consolidated Statements of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (In February 2018, the Company entered into an agreement to sell ) Tj ET Q
q 0 0 0 rg BT 339.38 596.20 Td (T) Tj ET Q
q 0 0 0 rg BT 345.72 596.20 Td (ime Inc. \(UK\) Ltd \(TIUK\), a United Kingdom ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (\(U.K.\) multi-platform publisher with approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 281.26 583.00 Td (60) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.26 583.00 Td ( brands. ) Tj ET Q
q 0 0 0 rg BT 329.64 583.00 Td (The sale closed in March 2018. Revenue and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (expenses from the date of acquisition until disposal along with associated taxes for ) Tj ET Q
q 0 0 0 rg BT 416.68 569.80 Td (TIUK were included in the loss ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (from discontinued operations, net of income taxes line on the Consolidated Statements of Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (In connection with the sale of ) Tj ET Q
q 0 0 0 rg BT 182.98 530.20 Td (TIUK, a liability of ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 325.05 530.20 Td ( was recorded in other liabilities in connection with a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (lease guarantee by ) Tj ET Q
q 0 0 0 rg BT 133.78 517.00 Td (T) Tj ET Q
q 0 0 0 rg BT 140.12 517.00 Td (ime. ) Tj ET Q
q 0 0 0 rg BT 161.91 517.00 Td (The guarantee is related to a lease of of) Tj ET Q
q 0 0 0 rg BT 334.57 517.00 Td (fice space by ) Tj ET Q
q 0 0 0 rg BT 394.53 517.00 Td (TIUK in the U.K. through ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (December�31, 2025. ) Tj ET Q
q 0 0 0 rg BT 141.74 503.80 Td (The carrying value of the lease guarantee was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.75 503.80 Td ($8.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 399.53 503.80 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.97 503.80 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.39 503.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 479.69 503.80 Td (The Company is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (only obligated to pay for the lease guarantee in the event that ) Tj ET Q
q 0 0 0 rg BT 321.04 490.60 Td (TIUK fails to perform under the lease agreement. If ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (TIUK fails to perform under the lease agreement, the maximum lease guarantee obligation for which the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (would be liable is approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.94 464.20 Td ($78.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.22 464.20 Td ( as of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.79 464.20 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.21 464.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 349.51 464.20 Td (The Company has assessed that it is unlikely ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (that ) Tj ET Q
q 0 0 0 rg BT 69.05 451.00 Td (TIUK will not perform its obligations under the lease.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (The Company does not allocate interest to discontinued operations unless the interest is directly attributable to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (discontinued operations or is interest on debt that is required to be repaid as a result of the disposal transaction. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (Interest expense included in discontinued operations reflects an estimate of interest expense related to the debt that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (will be repaid with the proceeds from the sale of the ) Tj ET Q
q 0 0 0 rg BT 281.64 385.00 Td (TIME, Sports Illustrated, Fortune, Money) Tj ET Q
q 0 0 0 rg BT 465.15 385.00 Td (, and af) Tj ET Q
q 0 0 0 rg BT 497.63 385.00 Td (filiated brands ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (and of ) Tj ET Q
q 0 0 0 rg BT 80.35 371.80 Td (V) Tj ET Q
q 0 0 0 rg BT 87.63 371.80 Td (iant.) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 154.11 303.58 Td (ear) Tj ET Q
q 0 0 0 rg BT 167.81 303.58 Td ( ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.25 345.37 Td (1,448.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 533.50 345.37 Td (830.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.00 331.37 Td (Intangible assets, net) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 147.50 331.37 Td (..................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 327.00 331.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.25 331.37 Td (2,005.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 331.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 533.50 331.37 Td (955.9) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 301.60 Td (Amortization expense was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 169.44 301.60 Td ($74.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 228.72 301.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.34 301.60 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 291.34 301.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 296.84 301.60 Td ($19.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.13 301.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 396.75 301.60 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 418.75 301.60 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 442.88 301.60 Td ($19.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.17 301.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 288.40 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 288.40 Td (. Future amortization expense for intangible assets is expected to be as follows:� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.05 288.40 Td ($155.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 490.83 288.40 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.45 288.40 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 553.45 288.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 275.20 Td ($140.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 114.78 275.20 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 155.41 275.20 Td (2020) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 177.41 275.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 182.91 275.20 Td ($86.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 242.19 275.20 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.82 275.20 Td (2021) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 304.82 275.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.32 275.20 Td ($41.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 369.60 275.20 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.22 275.20 Td (2022) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.22 275.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 456.36 275.20 Td ($40.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 515.64 275.20 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 262.00 Td (2023) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 262.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 76.89 262.00 Td (Actual future amortization expense could dif) Tj ET Q
q 0 0 0 rg BT 273.71 262.00 Td (fer from these estimates as a result of future acquisitions, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 248.80 Td (dispositions, and other factors.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 222.40 Td (During ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 83.91 222.40 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 132.48 222.40 Td (, Meredith made the strategic decision to no longer publish ) Tj ET Q
BT /F3 11.00 Tf ET
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q 0 0 0 rg BT 420.46 222.40 Td (egnancy and Baby) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.70 222.40 Td ( magazine as ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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q 0 0 0 rg BT 313.50 209.20 Td (ents) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 345.54 196.00 Td (These decisions were determined to be ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 130.00 Td (resulted in an impairment of the trademarks. ) Tj ET Q
q 0 0 0 rg BT 247.33 130.00 Td (As such, during ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.01 130.00 Td (, the national media segment recorded a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 116.80 Td (non-cash impairment char) Tj ET Q
q 0 0 0 rg BT 164.65 116.80 Td (ge of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 189.69 116.80 Td ($22.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 248.97 116.80 Td ( to partially impair the trademarks within the Company�) Tj ET Q
q 0 0 0 rg BT 494.58 116.80 Td (s Parents ) Tj ET Q
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q 0 0 0 rg BT 93.79 103.60 Td (This impairment char) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 103.78 701.80 Td ( to fully impair the Mywedding trademark. No other impairments of indefinite-lived intangible assets ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (were recorded as a result of the Company�) Tj ET Q
q 0 0 0 rg BT 236.01 688.60 Td (s annual impairment tests performed as of May�31, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 462.68 688.60 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.68 688.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 363.20 662.20 Td (ge of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 388.24 662.20 Td ($38.9 million) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 96.14 649.00 Td (American Baby trademark. Management determined that this trademark was fully impaired as part of ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 129.52 622.60 Td (These impairment char) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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3 M
439.5 463.1 m
503.5 463.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
307.5 449.1 m
369.5 449.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
373.5 449.1 m
435.5 449.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
107.5 449.1 m
307.5 449.1 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
369.5 449.1 m
373.5 449.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
435.5 449.1 m
439.5 449.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
439.5 449.1 m
503.5 449.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 404.1 m
435.5 404.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
107.5 404.1 m
307.5 404.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
107.5 389.1 m
307.5 389.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
307.5 404.1 m
369.5 404.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
307.5 389.1 m
369.5 389.1 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
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3 M
369.5 404.1 m
373.5 404.1 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
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3 M
369.5 389.1 m
373.5 389.1 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
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3 M
373.5 404.1 m
435.5 404.1 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
373.5 389.1 m
435.5 389.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
435.5 404.1 m
439.5 404.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
435.5 389.1 m
439.5 389.1 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
439.5 404.1 m
503.5 404.1 l
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0 0 0 RG
/GS0 gs
1.00 w
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[] 0 d
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3 M
439.5 389.1 m
503.5 389.1 l
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0 0 0 RG
/GS0 gs
1.00 w
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[] 0 d
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3 M
107.5 358.1 m
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3 M
307.5 358.1 m
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3 M
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3 M
373.5 358.1 m
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3 M
435.5 358.1 m
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[] 0 d
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3 M
439.5 358.1 m
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3 M
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1.00 w
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3 M
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1.00 w
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[] 0 d
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3 M
369.5 313.1 m
373.5 313.1 l
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/GS0 gs
1.00 w
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[] 0 d
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3 M
373.5 313.1 m
435.5 313.1 l
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1.00 w
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[] 0 d
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3 M
435.5 313.1 m
439.5 313.1 l
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/GS0 gs
1.00 w
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[] 0 d
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3 M
439.5 313.1 m
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2.00 w
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[] 0 d
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3 M
107.5 298.1 m
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2.00 w
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[] 0 d
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3 M
307.5 298.1 m
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2.00 w
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3 M
369.5 298.1 m
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2.00 w
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3 M
373.5 298.1 m
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3 M
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BT /F3 9.00 Tf ET
q 0 0 0 rg BT 110.00 524.55 Td (\(In millions\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 319.65 534.78 Td (National) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 324.35 524.78 Td (Media) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 392.05 534.78 Td (Local) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 390.35 524.78 Td (Media) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 460.05 524.78 Td (T) Tj ET Q
q 0 0 0 rg BT 465.80 524.78 Td (otal) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 110.00 509.97 Td (Balance at June 30, 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 494.97 Td (Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.75 494.97 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.00 494.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.55 494.97 Td (931.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.00 494.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.05 494.97 Td (68.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 442.00 494.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 494.97 Td (1,000.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 480.97 Td (Accumulated impairment losses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.50 480.97 Td (..............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.85 480.97 Td (\(1) Tj ET Q
q 0 0 0 rg BT 346.01 480.97 Td (16.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.30 480.97 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.30 480.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 470.85 480.97 Td (\(1) Tj ET Q
q 0 0 0 rg BT 480.01 480.97 Td (16.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.30 480.97 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.55 466.97 Td (814.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.05 466.97 Td (68.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.55 466.97 Td (883.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 110.00 452.97 Td (Acquisitions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 166.50 452.97 Td (..................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.05 452.97 Td (12.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.05 452.97 Td (1) Tj ET Q
q 0 0 0 rg BT 417.55 452.97 Td (1.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.05 452.97 Td (24.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 110.00 438.97 Td (Balance at June�30, 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 423.97 Td (Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.75 423.97 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.55 423.97 Td (943.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.05 423.97 Td (80.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 423.97 Td (1,024.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 408.97 Td (Accumulated impairment losses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.50 408.97 Td (..............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.85 408.97 Td (\(1) Tj ET Q
q 0 0 0 rg BT 346.01 408.97 Td (16.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.30 408.97 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.30 408.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 470.85 408.97 Td (\(1) Tj ET Q
q 0 0 0 rg BT 480.01 408.97 Td (16.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.30 408.97 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.55 393.97 Td (826.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.05 393.97 Td (80.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.55 393.97 Td (907.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 110.00 378.97 Td (Acquisitions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 166.50 378.97 Td (..................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.25 378.97 Td (1,028.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.05 378.97 Td (35.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 378.97 Td (1,063.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 110.00 363.02 Td (Disposals ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 155.53 368.01 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.00 362.97 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 342.35 363.02 Td (\(54.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.30 363.02 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.30 363.02 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.35 363.02 Td (\(54.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.30 363.02 Td (\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 110.00 348.00 Td (Balance at June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 332.97 Td (Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.75 332.97 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.25 332.97 Td (1,800.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.55 332.97 Td (1) Tj ET Q
q 0 0 0 rg BT 412.05 332.97 Td (15.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 332.97 Td (1,915.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 317.97 Td (Accumulated impairment losses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.50 317.97 Td (..............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 354.30 317.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.30 317.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.30 317.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.00 302.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.25 302.97 Td (1,800.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.00 302.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.55 302.97 Td (1) Tj ET Q
q 0 0 0 rg BT 412.05 302.97 Td (15.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 442.00 302.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 302.97 Td (1,915.8) Tj ET Q
BT /F3 9.00 Tf ET
BT /F3 5.85 Tf ET
q 0 0 0 rg BT 110.00 285.63 Td (1) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 112.92 281.55 Td ( In connection with the sale of MXM, goodwill was r) Tj ET Q
q 0 0 0 rg BT 304.07 281.55 Td (educed by $171.8 million and accumulated) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 110.00 272.55 Td ( impairment losses was r) Tj ET Q
q 0 0 0 rg BT 203.67 272.55 Td (educed by $1) Tj ET Q
q 0 0 0 rg BT 250.48 272.55 Td (16.9 million.) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 244.40 Td (Historically) Tj ET Q
q 0 0 0 rg BT 101.22 244.40 Td (, the Company�) Tj ET Q
q 0 0 0 rg BT 168.74 244.40 Td (s goodwill reporting units were magazine brands, MXM, and local media. Due to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 231.20 Td (sale of MXM and acquisition of ) Tj ET Q
q 0 0 0 rg BT 193.39 231.20 Td (T) Tj ET Q
q 0 0 0 rg BT 199.72 231.20 Td (ime, management reevaluated its goodwill reporting units. ) Tj ET Q
q 0 0 0 rg BT 458.46 231.20 Td (As a result, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 218.00 Td (Company�) Tj ET Q
q 0 0 0 rg BT 95.83 218.00 Td (s reporting units are now national media, local media excluding MNI, and MNI. No reallocation of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 204.80 Td (existing goodwill was required as a result of the change in reporting units as the goodwill attributable to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 191.60 Td (previous MXM reporting unit was disposed of in the sale of MXM and the goodwill attributable to MNI results ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 178.40 Td (from the acquisition of ) Tj ET Q
q 0 0 0 rg BT 153.06 178.40 Td (T) Tj ET Q
q 0 0 0 rg BT 159.39 178.40 Td (ime.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 152.00 Td (The national media reporting unit aligns to our national media operating segment. ) Tj ET Q
q 0 0 0 rg BT 412.40 152.00 Td (The local media excluding MNI ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 138.80 Td (and MNI segments, which have ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 192.36 138.80 Td ($80.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 251.64 138.80 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 273.02 138.80 Td ($35.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.30 138.80 Td ( of goodwill, respectively) Tj ET Q
q 0 0 0 rg BT 444.00 138.80 Td (, at June 30, 2018, are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 125.60 Td (both within our local media operating segment.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 99.20 Td (During its annual impairment reviews as of May�31, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.78 99.20 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 304.78 99.20 Td (, management performed a quantitative goodwill ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 86.00 Td (impairment test for the national media reporting unit. Based on the results of this analysis, the fair value exceeded ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 72.80 Td (the carrying value and thus resulted in no indication of impairment.) Tj ET Q
endstream
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (83) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (The Company performed qualitative assessments for the local media excluding MNI reporting unit and the MNI ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (reporting unit during its annual impairment reviews as of May�31, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.27 728.20 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.27 728.20 Td (, neither of which indicated impairment. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (Therefore, quantitative goodwill impairment analyses for the local media excluding MNI reporting unit and the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (MNI reporting unit were not deemed necessary in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.76 701.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.33 701.80 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (In fiscal 2017, the Company performed its annual goodwill impairment analysis on the magazine brands, MXM, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (and local media reporting units as of May�31, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 252.84 662.20 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 274.84 662.20 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 280.34 662.20 Td (No) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.78 662.20 Td ( impairments were recorded as a result of these reviews.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (In fiscal 2016, the Company determined that triggering events, including reduced operating and cash flow forecasts, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (required the Company to perform an evaluation of goodwill for the MXM reporting unit for impairment. Due to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (timing of the triggering events, this testing was performed in conjunction with the Company�) Tj ET Q
q 0 0 0 rg BT 458.76 609.40 Td (s annual impairment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (testing as of May�31, 2016. ) Tj ET Q
q 0 0 0 rg BT 172.62 596.20 Td (This evaluation indicated that the carrying value of MXM�) Tj ET Q
q 0 0 0 rg BT 430.43 596.20 Td (s goodwill exceeded its ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (estimated fair value. ) Tj ET Q
q 0 0 0 rg BT 141.63 583.00 Td (As a result, the Company recorded a pre-tax non-cash impairment char) Tj ET Q
q 0 0 0 rg BT 453.29 583.00 Td (ge of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.33 583.00 Td ($1) Tj ET Q
q 0 0 0 rg BT 488.93 583.00 Td (16.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 542.71 583.00 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (reduce the carrying value of MXM�) Tj ET Q
q 0 0 0 rg BT 206.69 569.80 Td (s goodwill in fiscal 2016. ) Tj ET Q
q 0 0 0 rg BT 320.76 569.80 Td (The Company recorded an income tax benefit of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 537.01 569.80 Td ($9.5 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 556.60 Td ( related to this char) Tj ET Q
q 0 0 0 rg BT 165.88 556.60 Td (ge. ) Tj ET Q
q 0 0 0 rg BT 181.56 556.60 Td (This impairment char) Tj ET Q
q 0 0 0 rg BT 276.06 556.60 Td (ge is recorded in the impairment of goodwill and other long-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (lived assets line in the Consolidated Statements of Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (Meredith performed a goodwill impairment analysis on the magazine brands and local media reporting units as of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (May�31, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.41 503.80 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 503.80 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.91 503.80 Td (No) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 130.36 503.80 Td ( impairments were recorded as a result of these reviews.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (6. Restructuring ) Tj ET Q
q 0 0 0 rg BT 131.88 464.20 Td (Accruals) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (During fiscal 2018, management committed to and executed upon several performance improvement plans, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (including those related to the integration of ) Tj ET Q
q 0 0 0 rg BT 242.55 424.60 Td (T) Tj ET Q
q 0 0 0 rg BT 248.89 424.60 Td (ime as well as other smaller restructurings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (As part of the Company�) Tj ET Q
q 0 0 0 rg BT 158.76 398.20 Td (s plan to realize cost syner) Tj ET Q
q 0 0 0 rg BT 274.94 398.20 Td (gies from the ) Tj ET Q
q 0 0 0 rg BT 335.12 398.20 Td (Acquisition management committed to a ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 363.09 385.00 Td (Acquisition related plan, smaller ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (performance improvement plans took place during the year that were related to the strategic decisions to no longer ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
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q 0 0 0 rg BT 111.32 358.60 Td (egnancy and Baby) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F3 11.00 Tf ET
q 0 0 0 rg BT 521.85 358.60 Td (Par) Tj ET Q
q 0 0 0 rg BT 537.94 358.60 Td (ents) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 555.66 358.60 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (magazine, and to no longer publish ) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 207.32 345.40 Td (FamilyFun) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.20 345.40 Td ( and) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 274.83 345.40 Td ( Martha Stewart W) Tj ET Q
q 0 0 0 rg BT 357.85 345.40 Td (eddings) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (them on the newsstand as special interest publications. ) Tj ET Q
q 0 0 0 rg BT 292.66 332.20 Td (The fiscal 2018 performance improvement plans af) Tj ET Q
q 0 0 0 rg BT 517.88 332.20 Td (fected ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.28 319.00 Td (1,800) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 141.03 319.00 Td ( employees, primarily in the national media and unallocated corporate departments. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (connection with these plans the Company recorded a pre-tax restructuring char) Tj ET Q
q 0 0 0 rg BT 396.78 305.80 Td (ge of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.83 305.80 Td ($104.9 million) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.77 292.60 Td ($0.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 555.55 292.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (which are recorded in the acquisition, disposition, and restructuring related activities line of the Consolidated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 157.34 266.20 Td (The headcount reductions are expected to be substantially completed by January 2019.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (Details of the severance and related benefit costs by segment for the performance improvement plans are as ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 426.55 193.58 Td (T) Tj ET Q
q 0 0 0 rg BT 432.30 193.58 Td (otal ) Tj ET Q
q 0 0 0 rg BT 450.36 193.58 Td (Amount) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 436.90 173.58 Td (Incurr) Tj ET Q
q 0 0 0 rg BT 465.05 173.58 Td (ed) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 117.00 158.35 Td (\(in millions\)) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.50 143.77 Td (......................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 361.00 143.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 393.05 143.77 Td (51.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.00 143.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 473.05 143.77 Td (52.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 117.00 128.77 Td (Local media) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 172.75 128.77 Td (...........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.55 128.77 Td (0.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.55 128.77 Td (0.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 117.00 113.77 Td (Unallocated Corporate) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 219.50 113.77 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 393.05 113.77 Td (52.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 473.05 113.77 Td (54.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 361.00 98.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.50 98.77 Td (104.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.00 98.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.55 98.77 Td (107.4) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.00 Td (During fiscal 2017, management committed to several performance improvement plans related primarily to ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 152.15 54.80 Td (These actions resulted in selected workforce reductions. In connection with these plans, the ) Tj ET Q
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q 0 0 0 rg BT 301.00 31.60 Td (84) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 248.33 741.40 Td (ges totaling ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.10 741.40 Td ($12.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 361.38 741.40 Td ( including ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.43 741.40 Td ($1) Tj ET Q
q 0 0 0 rg BT 419.02 741.40 Td (1.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.30 741.40 Td ( for severance and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (related benefit costs related to the involuntary termination of employees and other accruals of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.18 728.20 Td ($0.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 517.96 728.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 523.26 728.20 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (majority of severance costs have been paid out. ) Tj ET Q
q 0 0 0 rg BT 260.86 715.00 Td (The plans af) Tj ET Q
q 0 0 0 rg BT 315.03 715.00 Td (fected approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.93 715.00 Td (215) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.43 715.00 Td ( employees. ) Tj ET Q
q 0 0 0 rg BT 482.52 715.00 Td (The Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (also wrote down manuscript and art inventory by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 268.73 701.80 Td ($0.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.51 701.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 327.81 701.80 Td (These costs and expenses are recorded in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (acquisition, disposition, and restructuring related activities line of the Consolidated Statements of Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (workforce reductions related primarily to business realignments from recent acquisitions and the closing of ) Tj ET Q
BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (magazine ef) Tj ET Q
q 0 0 0 rg BT 103.24 635.80 Td (fective following the publication of the ) Tj ET Q
q 0 0 0 rg BT 277.36 635.80 Td (April 2016 issue. In connection with these plans, the Company ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 296.71 622.60 Td (The restructuring char) Tj ET Q
q 0 0 0 rg BT 394.24 622.60 Td (ges included severance and related ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 116.28 596.20 Td (150) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 131.28 596.20 Td ( employees. ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 556.93 596.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (These costs and expenses are recorded in the acquisition, disposition, and restructuring related activities of the ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.49 543.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.99 543.40 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 530.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.69 530.20 Td (, respectively) Tj ET Q
q 0 0 0 rg BT 217.62 530.20 Td (, of excess restructuring reserves accrued in prior fiscal years. ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 198.00 212.38 Td (Y) Tj ET Q
q 0 0 0 rg BT 204.11 212.38 Td (ears ending June�30,) Tj ET Q
BT /F3 10.00 Tf ET
q 0 0 0 rg BT 198.00 197.41 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.00 182.57 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.25 182.57 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 363.00 182.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.05 182.57 Td (18.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.00 167.57 Td (2020) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.25 167.57 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.05 167.57 Td (18.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.00 152.57 Td (2021) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.25 152.57 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.05 152.57 Td (18.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.00 137.57 Td (2022) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.25 137.57 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.05 137.57 Td (18.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.00 122.57 Td (2023) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.25 122.57 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.05 122.57 Td (18.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.00 107.57 Td (Thereafter) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 244.25 107.57 Td (.........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 378.25 107.57 Td (3,105.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.00 92.57 Td (T) Tj ET Q
q 0 0 0 rg BT 203.95 92.57 Td (otal long-term debt) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 291.00 92.57 Td (........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 363.00 92.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 378.25 92.57 Td (3,195.5) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 247.36 61.80 Td (Acquisition, the Company repaid and terminated its existing ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.38 741.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 142.28 741.40 Td (Also in conjunction with the repayment of debt, the Company settled the associated interest ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (rate swap agreements and recognized a gain on the settlement of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.19 728.20 Td ($1.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 389.97 728.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 395.27 728.20 Td (The loss on extinguishment of debt ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (Statements of Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (In connection with the ) Tj ET Q
q 0 0 0 rg BT 150.81 675.40 Td (Acquisition, on January�31, 2018, the Company entered into new credit arrangements with a ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 123.61 662.20 Td ($3.6 billion) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 489.33 662.20 Td (The variable- ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 268.52 649.00 Td (erm Loan�B\) with ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.99 635.80 Td ($175.0 million) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 202.42 609.40 Td (There were ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 373.32 596.20 Td (The ) Tj ET Q
q 0 0 0 rg BT 392.98 596.20 Td (T) Tj ET Q
q 0 0 0 rg BT 398.93 596.20 Td (erm Loan�B matures in 2025 and ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 173.95 543.40 Td (erm Loan�B is based on LIBOR plus a spread of ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.58 543.40 Td ( while the revolving credit ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.09 530.20 Td (2.5 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 360.95 530.20 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 375.01 530.20 Td (3.0 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 423.88 530.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 429.18 530.20 Td (The ) Tj ET Q
q 0 0 0 rg BT 448.83 530.20 Td (T) Tj ET Q
q 0 0 0 rg BT 454.78 530.20 Td (erm Loan�B bore ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 134.59 517.00 Td (5.09 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.96 517.00 Td ( at June�30, 2018. ) Tj ET Q
q 0 0 0 rg BT 269.11 517.00 Td (The revolving credit facility has a commitment fee ranging from ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 123.92 503.80 Td (0.500 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 183.79 503.80 Td ( of the unused commitment. ) Tj ET Q
q 0 0 0 rg BT 309.05 503.80 Td (All interest rates and commitment fees associated with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (this variable-rate revolving credit facility are derived from a leverage-based pricing grid. ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 248.21 477.40 Td ($1.4 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 298.93 477.40 Td ( maturing in 2026 \(2026 Senior Notes\) with an interest rate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 61.91 464.20 Td (6.875 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 121.78 464.20 Td ( per annum. ) Tj ET Q
q 0 0 0 rg BT 176.56 464.20 Td (T) Tj ET Q
q 0 0 0 rg BT 182.52 464.20 Td (otal outstanding principal is due at the final maturity date.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.42 437.80 Td ($14.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 444.70 437.80 Td ( of deferred financing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (costs and ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (respective facilities.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (During the third quarter of fiscal 2018, the Company also incurred a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 352.72 385.00 Td ($17.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.00 385.00 Td ( bridge loan commitment fee. ) Tj ET Q
q 0 0 0 rg BT 544.37 385.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (fee is presented in the interest expense, net line in the Consolidated Statements of Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 332.20 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.82 332.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 417.86 332.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 101.13 292.60 Td (T) Tj ET Q
q 0 0 0 rg BT 107.45 292.60 Td (axes) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (T) Tj ET Q
q 0 0 0 rg BT 55.95 253.00 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 104.83 253.00 Td (Act. ) Tj ET Q
q 0 0 0 rg BT 126.01 253.00 Td (The ) Tj ET Q
q 0 0 0 rg BT 145.66 253.00 Td (T) Tj ET Q
q 0 0 0 rg BT 151.62 253.00 Td (ax Reform ) Tj ET Q
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q 0 0 0 rg BT 492.31 253.00 Td (fected our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (fiscal year ended June�30, 2018, including, but not limited to, \(1\) reducing the U.S. federal corporate tax rate, \(2\) ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (bonus depreciation that allows for full expensing of qualified property and \(3\) limitations on the deductibility of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (interest expense and certain executive compensation and \(4\) a one-time transition tax on certain unrepatriated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (earnings of foreign subsidiaries. ) Tj ET Q
q 0 0 0 rg BT 193.68 200.20 Td (The ) Tj ET Q
q 0 0 0 rg BT 213.33 200.20 Td (T) Tj ET Q
q 0 0 0 rg BT 219.29 200.20 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 268.16 200.20 Td (Act reduced the federal corporate tax rate to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.83 200.20 Td (21 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 510.95 200.20 Td ( in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (fiscal year ended June�30, 2018. Pursuant to Section�15 of the Internal Revenue Code, the Company applied a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (blended corporate tax rate of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 179.19 173.80 Td (28 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 225.30 173.80 Td ( for fiscal 2018, which was based on the applicable tax rates before and ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 88.89 160.60 Td (T) Tj ET Q
q 0 0 0 rg BT 94.84 160.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 143.71 160.60 Td (Act and the number of days in the year) Tj ET Q
q 0 0 0 rg BT 314.16 160.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 152.27 134.20 Td (18, which provides guidance on accounting for the tax ef) Tj ET Q
q 0 0 0 rg BT 402.54 134.20 Td (fects of the ) Tj ET Q
q 0 0 0 rg BT 453.96 134.20 Td (T) Tj ET Q
q 0 0 0 rg BT 459.91 134.20 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 508.79 134.20 Td (Act. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (SAB�1) Tj ET Q
q 0 0 0 rg BT 79.24 121.00 Td (18 provides a measurement period that should not extend beyond one year from the ) Tj ET Q
q 0 0 0 rg BT 449.27 121.00 Td (T) Tj ET Q
q 0 0 0 rg BT 455.22 121.00 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 504.10 121.00 Td (Act ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 333.14 107.80 Td (ASC�740. In accordance with SAB�1) Tj ET Q
q 0 0 0 rg BT 494.96 107.80 Td (18, a company ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 180.83 94.60 Td (fects of those aspects of the ) Tj ET Q
q 0 0 0 rg BT 304.64 94.60 Td (T) Tj ET Q
q 0 0 0 rg BT 310.59 94.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 359.47 94.60 Td (Act for which the accounting under ) Tj ET Q
q 0 0 0 rg BT 517.70 94.60 Td (ASC�740 ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 105.70 81.40 Td (T) Tj ET Q
q 0 0 0 rg BT 111.65 81.40 Td (o the extent that a company�) Tj ET Q
q 0 0 0 rg BT 235.97 81.40 Td (s accounting for certain income tax ef) Tj ET Q
q 0 0 0 rg BT 401.92 81.40 Td (fects of the ) Tj ET Q
q 0 0 0 rg BT 453.34 81.40 Td (T) Tj ET Q
q 0 0 0 rg BT 459.29 81.40 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 508.17 81.40 Td (Act is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (incomplete but it can determine a reasonable estimate, it must record a provisional estimate in the consolidated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 Td (financial statements. If a company cannot determine a provisional estimate to be included in the consolidated ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (87) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (financial statements, it should continue to apply ) Tj ET Q
q 0 0 0 rg BT 262.63 741.40 Td (ASC�740 on the basis of the provisions of the tax laws that were in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 728.20 Td (fect immediately before the enactment of the ) Tj ET Q
q 0 0 0 rg BT 258.19 728.20 Td (T) Tj ET Q
q 0 0 0 rg BT 264.15 728.20 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 313.02 728.20 Td (Act.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (In connection with our initial analysis of the impact of the ) Tj ET Q
q 0 0 0 rg BT 307.93 701.80 Td (T) Tj ET Q
q 0 0 0 rg BT 313.88 701.80 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 362.76 701.80 Td (Act, we recorded a provisional net tax ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (benefit of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.20 688.60 Td ($133.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.98 688.60 Td ( in the quarter ended December�31, 2017. ) Tj ET Q
q 0 0 0 rg BT 344.88 688.60 Td (This net benefit primarily consists of a benefit ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (for the corporate rate reduction. ) Tj ET Q
q 0 0 0 rg BT 191.71 675.40 Td (As the Company was projecting a net operating loss for the fiscal year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (June�30, 2018, deferred tax assets and liabilities expected to be recognized in the fiscal year ended June�30, 2018, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (were remeasured using the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.34 649.00 Td (21 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.46 649.00 Td ( U.S. corporate tax rate. Due to our limited international operations, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (impact of the transitional tax was immaterial.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (During the quarter ended June�30, 2018, we did not make any provisional adjustment to the amount. ) Tj ET Q
q 0 0 0 rg BT 493.37 609.40 Td (W) Tj ET Q
q 0 0 0 rg BT 502.87 609.40 Td (e continue to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (assess new guidance issued by tax authorities as well as our ability to change certain methods of accounting and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (expect to finalize our accounting for the provision of the ) Tj ET Q
q 0 0 0 rg BT 300.88 583.00 Td (T) Tj ET Q
q 0 0 0 rg BT 306.83 583.00 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 355.71 583.00 Td (Act within the measurement period.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (Ef) Tj ET Q
q 0 0 0 rg BT 60.18 556.60 Td (fective July�1, 2017, the Company adopted new accounting guidance related to share-based compensation. Under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (this new guidance, excess tax benefits and deficiencies are to be recognized as a discrete component of the income ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (tax provision in the period they occur and not as an adjustment to additional paid-in capital. ) Tj ET Q
q 0 0 0 rg BT 455.37 530.20 Td (As such, the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (recognized an excess tax benefit of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.98 517.00 Td ($2.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 260.76 517.00 Td ( as a credit to income tax expense in the Consolidated Statements of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (Earnings in fiscal 2018.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (The following table shows income tax expense attributable to earnings from continuing operations before income ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (taxes:) Tj ET Q
0.8 0.9333333333333333 1 rg
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140.50 396.50 150.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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290.50 396.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
340.50 396.50 15.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
355.50 396.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
405.50 396.50 15.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
420.50 396.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
140.50 366.50 150.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
290.50 366.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
340.50 366.50 15.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
355.50 366.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
405.50 366.50 15.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
420.50 366.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
140.50 336.50 150.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
290.50 336.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
340.50 336.50 15.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
355.50 336.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
405.50 336.50 15.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
420.50 336.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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140.50 306.50 150.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
290.50 306.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
340.50 306.50 15.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
355.50 306.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
405.50 306.50 15.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
420.50 306.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
140.50 276.50 150.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
290.50 276.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
340.50 276.50 15.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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355.50 276.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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405.50 276.50 15.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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420.50 276.50 50.00 -15.00 re f
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
140.5 440.5 m
290.5 440.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
140.5 426.5 m
290.5 426.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
290.5 440.5 m
340.5 440.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
290.5 426.5 m
340.5 426.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
340.5 440.5 m
355.5 440.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
340.5 426.5 m
355.5 426.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355.5 440.5 m
405.5 440.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355.5 426.5 m
405.5 426.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
405.5 440.5 m
420.5 440.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
405.5 426.5 m
420.5 426.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
420.5 440.5 m
470.5 440.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
420.5 426.5 m
470.5 426.5 l
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0 i
[] 0 d
0 J
0 j
3 M
140.5 351.5 m
290.5 351.5 l
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0 0 0 RG
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1.00 w
0 i
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0 j
3 M
290.5 351.5 m
340.5 351.5 l
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1.00 w
0 i
[] 0 d
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3 M
340.5 351.5 m
355.5 351.5 l
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0 0 0 RG
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1.00 w
0 i
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3 M
355.5 351.5 m
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0 0 0 RG
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1.00 w
0 i
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0 j
3 M
405.5 351.5 m
420.5 351.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
420.5 351.5 m
470.5 351.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
140.5 336.5 m
290.5 336.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
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0 j
3 M
290.5 351.5 m
340.5 351.5 l
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0 0 0 RG
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1.00 w
0 i
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0 j
3 M
290.5 336.5 m
340.5 336.5 l
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1.00 w
0 i
[] 0 d
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0 j
3 M
340.5 351.5 m
355.5 351.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
340.5 336.5 m
355.5 336.5 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
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0 j
3 M
355.5 351.5 m
405.5 351.5 l
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0 0 0 RG
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0 i
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3 M
355.5 336.5 m
405.5 336.5 l
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0 0 0 RG
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0 i
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0 j
3 M
405.5 351.5 m
420.5 351.5 l
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1.00 w
0 i
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0 j
3 M
405.5 336.5 m
420.5 336.5 l
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3 M
420.5 351.5 m
470.5 351.5 l
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3 M
420.5 336.5 m
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3 M
420.5 276.5 m
470.5 276.5 l
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1.00 w
0 i
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3 M
140.5 276.5 m
290.5 276.5 l
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3 M
140.5 261.5 m
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3 M
290.5 276.5 m
340.5 276.5 l
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3 M
290.5 261.5 m
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0 i
[] 0 d
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3 M
340.5 276.5 m
355.5 276.5 l
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1.00 w
0 i
[] 0 d
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3 M
340.5 261.5 m
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1.00 w
0 i
[] 0 d
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3 M
355.5 276.5 m
405.5 276.5 l
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1.00 w
0 i
[] 0 d
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3 M
355.5 261.5 m
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
405.5 276.5 m
420.5 276.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
405.5 261.5 m
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0 0 0 RG
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1.00 w
0 i
[] 0 d
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3 M
420.5 276.5 m
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1.00 w
0 i
[] 0 d
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3 M
420.5 261.5 m
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0 i
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2.00 w
0 i
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3 M
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2.00 w
0 i
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3 M
340.5 246.5 m
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0 i
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355.5 246.5 m
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405.5 246.5 m
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420.5 246.5 m
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 143.00 431.18 Td (Y) Tj ET Q
q 0 0 0 rg BT 149.11 431.18 Td (ears ended June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 317.00 431.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 382.00 431.18 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 447.00 431.18 Td (2016) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 143.00 416.85 Td (\(In millions\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 143.00 401.50 Td (Curr) Tj ET Q
q 0 0 0 rg BT 166.73 401.50 Td (ently payable) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.00 386.37 Td (Federal) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.25 386.37 Td (.................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.00 386.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.55 386.37 Td (1.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 358.00 386.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.00 386.37 Td (62.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 423.00 386.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 386.37 Td (59.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.00 371.37 Td (State) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 185.25 371.37 Td (.....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.55 371.37 Td (1.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.55 371.37 Td (0.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.55 371.37 Td (7.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.00 356.37 Td (Foreign) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.25 356.37 Td (.................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.55 356.37 Td (0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.30 356.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.30 356.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.55 341.37 Td (3.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.00 341.37 Td (62.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 341.37 Td (66.5) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 143.00 326.50 Td (Deferr) Tj ET Q
q 0 0 0 rg BT 173.94 326.50 Td (ed) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.00 311.37 Td (Federal) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.25 311.37 Td (.................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 307.85 311.37 Td (\(129.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.30 311.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.00 311.37 Td (33.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.55 311.37 Td (8.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.00 296.37 Td (State) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 185.25 296.37 Td (.....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.55 296.37 Td (3.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.55 296.37 Td (5.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.55 296.37 Td (1.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.00 281.37 Td (Foreign) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.25 281.37 Td (.................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.85 281.37 Td (\(0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.30 281.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.30 281.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.30 281.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 307.85 266.37 Td (\(126.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.30 266.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.00 266.37 Td (38.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.55 266.37 Td (9.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 143.00 251.37 Td (Income taxes) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 201.75 251.37 Td (...............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.00 251.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 307.85 251.37 Td (\(123.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.30 251.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 358.00 251.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.50 251.37 Td (101.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 423.00 251.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 251.37 Td (76.3) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 220.60 Td (The dif) Tj ET Q
q 0 0 0 rg BT 81.87 220.60 Td (ferences between the statutory U.S. federal income tax rate and the ef) Tj ET Q
q 0 0 0 rg BT 387.40 220.60 Td (fective tax rate were as follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
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BT /F1 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F3 9.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 341.17 516.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 346.47 516.40 Td (The Company recognizes interest and penalties ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 102.43 476.80 Td (.) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 327.67 450.40 Td (, may change significantly within the next 12 ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 380.97 437.20 Td (The change, if any) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 294.51 292.00 Td (arner Inc.�) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 483.87 265.60 Td (ime Inc. common ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 259.40 239.20 Td (T) Tj ET Q
q 0 0 0 rg BT 265.35 239.20 Td (ax Matters ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 395.62 186.40 Td (W) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 261.26 120.40 Td (arner group is greater than it would have been absent ) Tj ET Q
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q 0 0 0 rg BT 503.19 120.40 Td (ime�) Tj ET Q
q 0 0 0 rg BT 522.74 120.40 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 341.15 107.20 Td (ime and ) Tj ET Q
q 0 0 0 rg BT 378.82 107.20 Td (T) Tj ET Q
q 0 0 0 rg BT 385.16 107.20 Td (ime ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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0.8 0.9333333333333333 1 rg
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266.50 521.50 48.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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314.50 521.50 48.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
362.50 521.50 48.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
410.50 521.50 48.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
458.50 521.50 55.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
513.50 521.50 48.00 -15.00 re f
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0 0 0 RG
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1.00 w
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[] 0 d
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3 M
49.5 625.5 m
218.5 625.5 l
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1.00 w
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[] 0 d
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3 M
218.5 625.5 m
266.5 625.5 l
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1.00 w
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218.5 611.5 m
266.5 611.5 l
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[] 0 d
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3 M
266.5 625.5 m
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266.5 611.5 m
314.5 611.5 l
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314.5 625.5 m
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314.5 611.5 m
362.5 611.5 l
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[] 0 d
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3 M
362.5 625.5 m
410.5 625.5 l
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3 M
362.5 611.5 m
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3 M
410.5 625.5 m
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1.00 w
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3 M
410.5 611.5 m
458.5 611.5 l
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1.00 w
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[] 0 d
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3 M
458.5 625.5 m
513.5 625.5 l
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1.00 w
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3 M
458.5 611.5 m
513.5 611.5 l
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3 M
513.5 625.5 m
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513.5 611.5 m
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3 M
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3 M
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266.5 596.5 l
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3 M
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314.5 596.5 l
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3 M
314.5 596.5 m
362.5 596.5 l
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3 M
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410.5 596.5 l
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410.5 596.5 m
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218.5 521.5 l
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218.5 506.5 l
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218.5 521.5 m
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3 M
266.5 521.5 m
314.5 521.5 l
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266.5 506.5 m
314.5 506.5 l
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[] 0 d
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3 M
314.5 521.5 m
362.5 521.5 l
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3 M
314.5 506.5 m
362.5 506.5 l
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3 M
362.5 521.5 m
410.5 521.5 l
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3 M
362.5 506.5 m
410.5 506.5 l
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[] 0 d
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3 M
410.5 521.5 m
458.5 521.5 l
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1.50 w
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3 M
410.5 506.5 m
458.5 506.5 l
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1.00 w
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[] 0 d
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3 M
458.5 521.5 m
513.5 521.5 l
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1.50 w
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[] 0 d
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3 M
458.5 506.5 m
513.5 506.5 l
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1.00 w
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[] 0 d
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3 M
513.5 521.5 m
561.5 521.5 l
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 328.80 616.18 Td (Payments Due In) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 601.18 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 601.18 Td (ears ending June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 243.00 601.18 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 291.00 601.18 Td (2020) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 339.00 601.18 Td (2021) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 387.00 601.18 Td (2022) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 435.00 601.18 Td (2023) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 464.25 601.18 Td (Ther) Tj ET Q
q 0 0 0 rg BT 485.27 601.18 Td (eafter) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 536.10 601.18 Td (T) Tj ET Q
q 0 0 0 rg BT 541.85 601.18 Td (otal) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 585.95 Td (\(in millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 571.37 Td (Operating leases) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.00 571.37 Td (................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 221.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.00 571.37 Td (66.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 291.00 571.37 Td (62.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 339.00 571.37 Td (58.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.00 571.37 Td (55.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.00 571.37 Td (54.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.50 571.37 Td (459.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 516.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 571.37 Td (757.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 556.37 Td (Broadcast rights payable) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 541.37 Td ( Recorded commitments) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.25 541.37 Td (.................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 248.50 541.37 Td (8.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 296.50 541.37 Td (6.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.50 541.37 Td (5.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.50 541.37 Td (4.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.50 541.37 Td (3.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 495.55 541.37 Td (0.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 541.37 Td (29.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 526.37 Td ( Unavailable rights) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 146.25 526.37 Td (.........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.00 526.37 Td (1) Tj ET Q
q 0 0 0 rg BT 248.50 526.37 Td (1.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 291.00 526.37 Td (12.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.50 526.37 Td (2.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.30 526.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 443.30 526.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 498.30 526.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 526.37 Td (26.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 511.37 Td (T) Tj ET Q
q 0 0 0 rg BT 57.95 511.37 Td (otal commitments) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.00 511.37 Td (............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 221.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.00 511.37 Td (87.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 291.00 511.37 Td (81.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 339.00 511.37 Td (66.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.00 511.37 Td (59.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.00 511.37 Td (58.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.50 511.37 Td (460.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 516.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 511.37 Td (813.3) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 480.60 Td (The Company occupies certain facilities and uses certain equipment under long-term, non-cancelable operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 467.40 Td (lease agreements through 2032. Future minimum operating lease payments have been reduced by future minimum ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 454.20 Td (sublease income of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.05 454.20 Td ($6.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 190.84 454.20 Td ( in fiscal 2019, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 258.96 454.20 Td ($6.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.74 454.20 Td ( in fiscal 2020, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.87 454.20 Td ($7.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.65 454.20 Td ( in fiscal 2021, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.78 454.20 Td ($8.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 556.56 454.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 441.00 Td (in fiscal 2022, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 115.38 441.00 Td ($8.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 169.16 441.00 Td ( in fiscal 2023, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.92 441.00 Td ($32.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.20 441.00 Td ( thereafter) Tj ET Q
q 0 0 0 rg BT 359.47 441.00 Td (. Non-cancellable sublease income is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 427.80 Td (committed through 2026. Rent expense under such leases was ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
325.55 435.43 59.28 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 325.55 427.80 Td ($45.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.83 427.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
387.58 435.43 37.88 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 387.58 427.80 Td (in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
425.46 435.43 22.00 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 425.46 427.80 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
447.46 435.43 5.50 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 447.46 427.80 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
452.96 435.43 59.28 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 452.96 427.80 Td ($20.1 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
512.24 435.43 40.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 512.24 427.80 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 422.23 22.00 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 414.60 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
72.00 422.23 24.13 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 72.00 414.60 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
96.13 422.23 59.28 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 96.13 414.60 Td ($20.9 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
155.41 422.23 40.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 155.41 414.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
196.04 422.23 22.00 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 196.04 414.60 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
218.04 422.23 2.75 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 218.04 414.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 388.20 Td (The Company has recorded commitments for broadcast rights payable in future fiscal years. ) Tj ET Q
q 0 0 0 rg BT 457.28 388.20 Td (The Company also is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 375.00 Td (obligated to make payments under contracts for broadcast rights not currently available for use and therefore not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 361.80 Td (included in the consolidated financial statements. Such unavailable rights amounted t) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
424.82 369.43 8.25 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 424.82 361.80 Td (o ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
433.07 369.43 59.28 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 433.07 361.80 Td ($26.4 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
492.35 369.43 13.44 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 492.35 361.80 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
505.79 369.43 39.41 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 505.79 361.80 Td (June�30, ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 356.23 22.00 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 348.60 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 348.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 77.30 348.60 Td (The fair value of these commitments for unavailable broadcast rights, determined by the present value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 335.40 Td (future cash flows discounted at the Company�) Tj ET Q
q 0 0 0 rg BT 251.62 335.40 Td (s current borrowing rate, w) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
371.05 343.03 9.16 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 371.05 335.40 Td (as) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.21 335.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.96 335.40 Td ($24.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 442.25 335.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
445.00 343.03 10.69 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 445.00 335.40 Td (at ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
455.68 343.03 61.41 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 455.68 335.40 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
517.10 343.03 2.75 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 517.10 335.40 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 309.00 Td (Legal ) Tj ET Q
q 0 0 0 rg BT 79.03 309.00 Td (Pr) Tj ET Q
q 0 0 0 rg BT 90.43 309.00 Td (oceedings) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 282.60 Td (In the ordinary course of business, Meredith is a defendant in or party to various legal claims, actions, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 269.40 Td (proceedings. ) Tj ET Q
q 0 0 0 rg BT 108.45 269.40 Td (These claims, actions and proceedings are at varying stages of investigation, arbitration, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 256.20 Td (adjudication, and involve a variety of areas of law) Tj ET Q
q 0 0 0 rg BT 269.51 256.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 274.81 256.20 Td (T) Tj ET Q
q 0 0 0 rg BT 281.14 256.20 Td (ime, which is now a wholly-owned subsidiary) Tj ET Q
q 0 0 0 rg BT 482.98 256.20 Td (, previously ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 243.00 Td (reported on, and the Company updates below) Tj ET Q
q 0 0 0 rg BT 248.76 243.00 Td (, the following legal proceedings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 216.60 Td (On October�26, 2010, the Canadian Minister of National Revenue denied the claims by ) Tj ET Q
q 0 0 0 rg BT 435.92 216.60 Td (T) Tj ET Q
q 0 0 0 rg BT 442.26 216.60 Td (ime Inc. Retail \(formerly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 203.40 Td (T) Tj ET Q
q 0 0 0 rg BT 56.33 203.40 Td (ime/W) Tj ET Q
q 0 0 0 rg BT 85.38 203.40 Td (arner Retail Sales & Marketing, Inc.\) \(TIR\) for input tax credits in respect of goods and services tax that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 190.20 Td (TIR had paid on magazines it imported into and had displayed at retail locations in Canada during the years 2006 to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 177.00 Td (2008, on the basis that ) Tj ET Q
q 0 0 0 rg BT 151.23 177.00 Td (TIR did not own those magazines and issued Notices of Reassessment in the amount of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 163.80 Td (approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.28 163.80 Td (C$52 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 174.65 163.80 Td (. On January�21, 201) Tj ET Q
q 0 0 0 rg BT 265.90 163.80 Td (1, ) Tj ET Q
q 0 0 0 rg BT 276.70 163.80 Td (TIR filed an objection to the Notices of Reassessment with the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 150.60 Td (Chief of ) Tj ET Q
q 0 0 0 rg BT 88.49 150.60 Td (Appeals of the Canada Revenue ) Tj ET Q
q 0 0 0 rg BT 231.75 150.60 Td (Agency \(CRA\), ar) Tj ET Q
q 0 0 0 rg BT 312.50 150.60 Td (guing that ) Tj ET Q
q 0 0 0 rg BT 359.35 150.60 Td (TIR claimed input tax credits only in respect ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 137.40 Td (of goods and services tax it actually paid and, regardless of whether its payment of the goods and services tax was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 124.20 Td (appropriate or in error) Tj ET Q
q 0 0 0 rg BT 146.99 124.20 Td (, it is entitled to a rebate for such payments. On September�13, 2013, ) Tj ET Q
q 0 0 0 rg BT 451.66 124.20 Td (TIR received Notices of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 111.00 Td (Reassessment in the amount of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 189.00 111.00 Td (C$26.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.62 111.00 Td ( relating to the disallowance of input tax credits claimed by ) Tj ET Q
q 0 0 0 rg BT 519.04 111.00 Td (TIR for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 97.80 Td (goods and services tax that ) Tj ET Q
q 0 0 0 rg BT 171.08 97.80 Td (TIR had paid on magazines it imported into and had displayed at retail locations in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 84.60 Td (Canada during the years 2009 to 2010. On October�22, 2013, ) Tj ET Q
q 0 0 0 rg BT 321.08 84.60 Td (TIR filed an objection to the Notices of Reassessment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 71.40 Td (received on September�13, 2013 with the Chief of ) Tj ET Q
q 0 0 0 rg BT 271.78 71.40 Td (Appeals of the CRA, asserting the same ar) Tj ET Q
q 0 0 0 rg BT 458.53 71.40 Td (guments made in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 58.20 Td (objection ) Tj ET Q
q 0 0 0 rg BT 93.48 58.20 Td (TIR filed on January�21, 201) Tj ET Q
q 0 0 0 rg BT 220.16 58.20 Td (1. Beginning in 2015, the collections department of the CRA) Tj ET Q
q 0 0 0 rg BT 487.48 58.20 Td ( requested ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 45.00 Td (payment of both assessments plus accrued interest or the posting of suf) Tj ET Q
q 0 0 0 rg BT 362.32 45.00 Td (ficient security) Tj ET Q
q 0 0 0 rg BT 427.27 45.00 Td (. In each instance, ) Tj ET Q
q 0 0 0 rg BT 508.92 45.00 Td (TIR ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (91) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (responded by stating that collection should remain stayed pending resolution of the issues raised by ) Tj ET Q
q 0 0 0 rg BT 490.02 741.40 Td (TIR�) Tj ET Q
q 0 0 0 rg BT 510.79 741.40 Td (s objection. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (Including interest accrued, the total of the reassessments claimed by the CRA) Tj ET Q
q 0 0 0 rg BT 390.29 728.20 Td ( for the years 2006 to 2010 was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.43 728.20 Td (C$91 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 715.00 Td ( as of November�30, 2015. On February�8, 2016, the Company filed an application for a remission order ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (with the International ) Tj ET Q
q 0 0 0 rg BT 147.24 701.80 Td (T) Tj ET Q
q 0 0 0 rg BT 153.58 701.80 Td (rade Policy Division of Finance Canada to seek relief from the assessments and the CRA) Tj ET Q
q 0 0 0 rg BT 543.98 701.80 Td (�) Tj ET Q
q 0 0 0 rg BT 547.04 701.80 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (collection ef) Tj ET Q
q 0 0 0 rg BT 104.47 688.60 Td (forts. ) Tj ET Q
q 0 0 0 rg BT 129.93 688.60 Td (The matter is currently subject to a proceeding in the ) Tj ET Q
q 0 0 0 rg BT 364.93 688.60 Td (T) Tj ET Q
q 0 0 0 rg BT 370.88 688.60 Td (ax Court of Canada to resolve the issue of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (whether ) Tj ET Q
q 0 0 0 rg BT 87.98 675.40 Td (TIR or the publishers are entitled to the input tax credits. On March�31, 2017, the Company and the CRA) Tj ET Q
q 0 0 0 rg BT 550.50 675.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (jointly proposed a timetable for the completion of certain pre-trial steps related to this matter) Tj ET Q
q 0 0 0 rg BT 457.65 662.20 Td (, which was approved ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (by the ) Tj ET Q
q 0 0 0 rg BT 79.74 649.00 Td (T) Tj ET Q
q 0 0 0 rg BT 85.69 649.00 Td (ax Court. In accordance with the timetable, on ) Tj ET Q
q 0 0 0 rg BT 291.56 649.00 Td (April�28, 2017, ) Tj ET Q
q 0 0 0 rg BT 361.34 649.00 Td (TIR filed an ) Tj ET Q
q 0 0 0 rg BT 417.24 649.00 Td (Amended Notice of ) Tj ET Q
q 0 0 0 rg BT 506.13 649.00 Td (Appeal of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (the assessments. In June 2017, the CRA) Tj ET Q
q 0 0 0 rg BT 225.38 635.80 Td ( filed a Reply to ) Tj ET Q
q 0 0 0 rg BT 298.80 635.80 Td (TIR's ) Tj ET Q
q 0 0 0 rg BT 324.92 635.80 Td (Amended Notice of ) Tj ET Q
q 0 0 0 rg BT 413.82 635.80 Td (Appeal and the Company filed an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (answer to the CRA) Tj ET Q
q 0 0 0 rg BT 133.41 622.60 Td ( reply in July 2017. ) Tj ET Q
q 0 0 0 rg BT 221.20 622.60 Td (The parties are currently engaged in discovery) Tj ET Q
q 0 0 0 rg BT 424.51 622.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 429.81 622.60 Td (The Company denies liability ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (and intends to vigorously defend itself and pursue all defenses available to eliminate or mitigate liability) Tj ET Q
q 0 0 0 rg BT 508.41 609.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (In July 2017 and November 2017, ) Tj ET Q
q 0 0 0 rg BT 202.86 583.00 Td (T) Tj ET Q
q 0 0 0 rg BT 209.19 583.00 Td (ime received subpoenas from the Enforcement Division of the staf) Tj ET Q
q 0 0 0 rg BT 501.32 583.00 Td (f of the SEC ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (requiring ) Tj ET Q
q 0 0 0 rg BT 92.87 569.80 Td (T) Tj ET Q
q 0 0 0 rg BT 99.20 569.80 Td (ime to provide documents relating to its accounting for goodwill and asset impairments, restructuring ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (and severance costs, and its analysis and reporting of ) Tj ET Q
q 0 0 0 rg BT 285.62 556.60 Td (T) Tj ET Q
q 0 0 0 rg BT 291.95 556.60 Td (ime�) Tj ET Q
q 0 0 0 rg BT 311.50 556.60 Td (s segments. ) Tj ET Q
q 0 0 0 rg BT 364.77 556.60 Td (The Company is cooperating with the SEC ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (in the investigation. Management cannot at this time predict the eventual scope or outcome of this matter) Tj ET Q
q 0 0 0 rg BT 511.56 543.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (The Company establishes an accrued liability for specific matters, such as a legal claim, when the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (determines both that a loss is probable and the amount of the loss can be reasonably estimated. Once established, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (accruals are adjusted from time to time, as appropriate, in light of additional information. ) Tj ET Q
q 0 0 0 rg BT 444.76 490.60 Td (The amount of any loss ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (ultimately incurred in relation to matters for which an accrual has been established may be higher or lower than the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (amounts accrued for such matters. Due to the inherent dif) Tj ET Q
q 0 0 0 rg BT 302.72 464.20 Td (ficulty of predicting the outcome of litigation, claims and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (other matters, the Company often cannot predict what the eventual outcome of a pending matter will be, or what the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (timing or results of the ultimate resolution of a matter will be. ) Tj ET Q
q 0 0 0 rg BT 324.03 437.80 Td (Accordingly) Tj ET Q
q 0 0 0 rg BT 378.30 437.80 Td (, for the matters described above, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (Company is unable to predict the outcome or reasonably estimate a range of possible loss.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (10. Fair) Tj ET Q
q 0 0 0 rg BT 89.21 385.00 Td ( ) Tj ET Q
q 0 0 0 rg BT 91.76 385.00 Td (V) Tj ET Q
q 0 0 0 rg BT 98.69 385.00 Td (alue Measur) Tj ET Q
q 0 0 0 rg BT 156.85 385.00 Td (ements) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (Accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (liability in an orderly transaction between market participants at the measurement date. Specifically) Tj ET Q
q 0 0 0 rg BT 487.59 345.40 Td (, it establishes a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (hierarchy prioritizing the use of inputs in valuation techniques. ) Tj ET Q
q 0 0 0 rg BT 329.01 332.20 Td (The defined levels within the hierarchy are as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (follows:) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 293.80 Td (� Level 1 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 293.80 Td (Quoted prices \(unadjusted\) in active markets for identical assets or liabilities;) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 280.60 Td (� Level 2 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 280.60 Td (Inputs other than quoted prices included within Level 1 that are either directly or indirectly) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 267.40 Td ( ) Tj ET Q
q 0 0 0 rg BT 122.00 267.40 Td (observable; and) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 254.20 Td (� Level 3 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 254.20 Td (Assets or liabilities for which fair value is based on valuation models with significant unobservable) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 241.00 Td ( ) Tj ET Q
q 0 0 0 rg BT 122.00 241.00 Td (pricing inputs and which result in the use of management estimates.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 215.80 Td (The following table sets forth the carrying value and the estimated fair value of the Company�) Tj ET Q
q 0 0 0 rg BT 463.28 215.80 Td (s financial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 202.60 Td (instruments not measured at fair value on a recurring basis:) Tj ET Q
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BT /F1 10.00 Tf ET
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BT /F3 9.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 298.21 145.78 Td (alue) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 353.20 145.78 Td (Fair) Tj ET Q
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BT /F2 11.00 Tf ET
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448.00 459.50 76.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
87.00 428.50 275.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.00 428.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 428.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 428.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
87.00 390.50 275.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.00 390.50 76.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 390.50 10.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 390.50 76.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
87.00 359.50 275.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.00 359.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 359.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 359.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
87.00 328.50 275.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.00 328.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 328.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 328.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
87.00 274.50 275.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.00 274.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 274.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 274.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
87.00 244.50 275.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.00 244.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 244.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 244.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
87.00 213.50 275.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
362.00 213.50 76.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 213.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 213.50 76.00 -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
87 704.5 m
362 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 689.5 m
362 689.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 704.5 m
438 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 689.5 m
438 689.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 704.5 m
448 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 689.5 m
448 689.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 704.5 m
524 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 689.5 m
524 689.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 581.5 m
438 581.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 581.5 m
448 581.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 581.5 m
524 581.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 581.5 m
362 581.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 566.5 m
362 566.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 581.5 m
438 581.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 566.5 m
438 566.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 581.5 m
448 581.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 566.5 m
448 566.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 581.5 m
524 581.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 566.5 m
524 566.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 497.5 m
362 497.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 482.5 m
362 482.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 497.5 m
438 497.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 482.5 m
438 482.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 497.5 m
448 497.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 482.5 m
448 482.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 497.5 m
524 497.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 482.5 m
524 482.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 482.5 m
438 482.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 482.5 m
448 482.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 482.5 m
524 482.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 428.5 m
362 428.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 428.5 m
438 428.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 428.5 m
448 428.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 428.5 m
524 428.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 413.5 m
362 413.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 413.5 m
438 413.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 413.5 m
448 413.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 413.5 m
524 413.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 313.5 m
362 313.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 313.5 m
438 313.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 313.5 m
448 313.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 313.5 m
524 313.5 l
s
0 0 0 RG
/GS0 gs
1.50 w
0 i
[] 0 d
0 J
0 j
3 M
87 297.5 m
362 297.5 l
s
0 0 0 RG
/GS0 gs
1.50 w
0 i
[] 0 d
0 J
0 j
3 M
362 297.5 m
438 297.5 l
s
0 0 0 RG
/GS0 gs
1.50 w
0 i
[] 0 d
0 J
0 j
3 M
438 297.5 m
448 297.5 l
s
0 0 0 RG
/GS0 gs
1.50 w
0 i
[] 0 d
0 J
0 j
3 M
448 297.5 m
524 297.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 198.5 m
362 198.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 198.5 m
438 198.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 198.5 m
448 198.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 198.5 m
524 198.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 185.5 m
362 185.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 185.5 m
438 185.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 185.5 m
448 185.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 185.5 m
524 185.5 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 89.50 694.18 Td (Y) Tj ET Q
q 0 0 0 rg BT 95.61 694.18 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 389.50 694.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 475.50 694.18 Td (2017) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 89.50 678.95 Td (\(in millions\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 664.40 Td (Contingent consideration) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 649.37 Td (Balance at beginning of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 218.25 649.37 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 649.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.55 649.37 Td (34.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 649.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 649.37 Td (56.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 633.42 Td (Accrual on ) Tj ET Q
q 0 0 0 rg BT 140.61 633.42 Td (T) Tj ET Q
q 0 0 0 rg BT 146.94 633.42 Td (ime�) Tj ET Q
q 0 0 0 rg BT 166.49 633.42 Td (s opening balance sheet ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 273.40 638.41 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 278.75 633.37 Td (.............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.05 633.42 Td (1.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 633.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 618.37 Td (Additions due to acquisitions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 218.25 618.37 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 618.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.05 618.37 Td (7.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 602.42 Td (Payments ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 135.03 607.41 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 141.25 602.37 Td (...............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.35 602.42 Td (\(5.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 602.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.85 602.42 Td (\(10.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 602.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 586.42 Td (Fair value adjustment of contingent consideration) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.00 586.37 Td (..................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.35 586.42 Td (\(4.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 586.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.85 586.42 Td (\(19.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 586.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 571.37 Td (Balance at end of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.00 571.37 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.55 571.37 Td (25.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 571.37 Td (34.2) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 548.40 Td (Corporate airplanes held-for) Tj ET Q
q 0 0 0 rg BT 224.94 548.40 Td (-sale) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 533.37 Td (Balance at beginning of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 218.25 533.37 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 533.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.05 533.37 Td (1.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 533.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.05 533.37 Td (2.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 517.42 Td (Fair value adjustment of corporate airplanes) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.25 517.37 Td (...........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 517.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.35 517.42 Td (\(0.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 517.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 502.37 Td (Sale) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.00 502.37 Td (..........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.35 502.37 Td (\(1.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 502.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 502.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 487.37 Td (Balance at end of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.00 487.37 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 487.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 487.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 487.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.05 487.37 Td (1.9) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 464.40 Td (T) Tj ET Q
q 0 0 0 rg BT 96.43 464.40 Td (rademarks) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 448.42 Td (Balance at beginning of year ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 218.70 453.41 Td (2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 223.75 448.37 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 448.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.55 448.42 Td (55.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 448.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.05 448.42 Td (5.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 433.37 Td (Impairment) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 141.25 433.37 Td (...............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.85 433.37 Td (\(22.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 433.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.35 433.37 Td (\(5.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 433.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 418.37 Td (Balance at end of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.00 418.37 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 418.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.55 418.37 Td (33.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 418.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 418.37 Td (�) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 395.40 Td (Investment in Next Issue Media) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 379.42 Td (Balance at beginning of year ) Tj ET Q
BT /F2 11.00 Tf ET
BT /F2 7.15 Tf ET
q 0 0 0 rg BT 218.70 384.41 Td (3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 223.75 379.37 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 379.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.55 379.42 Td (1) Tj ET Q
q 0 0 0 rg BT 420.05 379.42 Td (1.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 379.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 379.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 364.37 Td (Additions due to investment and acquisition) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.25 364.37 Td (...........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.05 364.37 Td (3.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 364.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 349.37 Td (Equity method investment losses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 234.75 349.37 Td (.............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.35 349.37 Td (\(3.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 349.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 349.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 333.42 Td (Impairment) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 141.25 333.37 Td (...............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.35 333.42 Td (\(9.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 333.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 333.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 318.37 Td (Sale) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.00 318.37 Td (..........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.35 318.37 Td (\(1.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 318.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 318.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 302.42 Td (Balance at end of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.00 302.37 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 302.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 302.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 302.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 302.42 Td (�) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 279.40 Td (Lease guarantee) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 264.37 Td (Balance at beginning of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 218.25 264.37 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 264.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 264.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 264.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 264.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 249.37 Td (Accrual on ) Tj ET Q
q 0 0 0 rg BT 140.71 249.37 Td (T) Tj ET Q
q 0 0 0 rg BT 147.14 249.37 Td (ime�) Tj ET Q
q 0 0 0 rg BT 166.80 249.37 Td (s opening balance sheet) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 273.25 249.37 Td (...............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.05 249.37 Td (3.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 249.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 234.37 Td (Issuance of new guarantees) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 212.75 234.37 Td (.....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.05 234.37 Td (9.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 234.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 218.42 Td (Fair market value adjustment of lease guarantees) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 306.25 218.37 Td (...................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.35 218.42 Td (\(0.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 218.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 218.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 203.37 Td (Foreign currency exchange impact) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.00 203.37 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.35 203.37 Td (\(0.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 203.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 203.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 188.42 Td (Balance at end of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.00 188.42 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 188.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.55 188.42 Td (1) Tj ET Q
q 0 0 0 rg BT 420.05 188.42 Td (1.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 188.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 188.42 Td (�) Tj ET Q
BT /F3 8.00 Tf ET
BT /F3 5.20 Tf ET
q 0 0 0 rg BT 89.50 172.38 Td (1) Tj ET Q
BT /F3 8.00 Tf ET
q 0 0 0 rg BT 92.10 168.75 Td ( ) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 96.10 168.75 Td ( Of this amount, $0.5 million was classified in liabilities associated with assets held-for) Tj ET Q
q 0 0 0 rg BT 410.67 168.75 Td (-sale on the opening balance) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 89.50 159.75 Td ( sheet, and was subsequently paid in fiscal 2018.) Tj ET Q
BT /F3 9.00 Tf ET
BT /F3 5.85 Tf ET
q 0 0 0 rg BT 89.50 145.93 Td (2) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 92.42 141.85 Td ( Book value of trademarks impair) Tj ET Q
q 0 0 0 rg BT 217.82 141.85 Td (ed during the year) Tj ET Q
q 0 0 0 rg BT 283.06 141.85 Td (.) Tj ET Q
BT /F3 9.00 Tf ET
BT /F3 5.85 Tf ET
q 0 0 0 rg BT 89.50 130.93 Td (3 ) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 93.89 126.85 Td ( Book value of investment impair) Tj ET Q
q 0 0 0 rg BT 214.53 126.85 Td (ed during the year) Tj ET Q
q 0 0 0 rg BT 279.76 126.85 Td (.) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 95.60 Td (The fair value adjustment of contingent consideration is the change in the estimated earn out payments based on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 82.40 Td (projections of performance and the amortization of the present value discount. ) Tj ET Q
q 0 0 0 rg BT 396.79 82.40 Td (The fair value adjustment of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 69.20 Td (contingent consideration is included in selling, general, and administrative line on the Consolidated Statements of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 56.00 Td (Earnings.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (94) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (In fiscal 2016, the Company committed to a plan to sell the Company�) Tj ET Q
q 0 0 0 rg BT 359.47 741.40 Td (s two corporate airplanes. In conjunction with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (that plan, the Company classified the airplanes as held-for) Tj ET Q
q 0 0 0 rg BT 305.45 728.20 Td (-sale and wrote the assets down to fair value. ) Tj ET Q
q 0 0 0 rg BT 505.63 728.20 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (airplanes were recorded at fair value until their sale in fiscal 2018.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 693.80 Td (The fair value adjustment of corporate airplanes and impairment of trademarks are included in the impairment of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 680.60 Td (goodwill and other long-lived assets in the Consolidated Statement of Earnings. Next Issue Media was reported as a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 667.40 Td (cost method investment as of June�30, 2017, and the impairment of this investment is recorded in non-operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 654.20 Td (expense, net in the Consolidated Statement of Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 627.80 Td (In the ) Tj ET Q
q 0 0 0 rg BT 77.49 627.80 Td (Acquisition, the Company assumed lease guarantees related to space leased by various former ) Tj ET Q
q 0 0 0 rg BT 493.94 627.80 Td (T) Tj ET Q
q 0 0 0 rg BT 500.27 627.80 Td (ime ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 614.60 Td (subsidiaries. ) Tj ET Q
q 0 0 0 rg BT 107.24 614.60 Td (The fair value of the lease guarantees was derived using a probability weighted present value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 601.40 Td (expected future payments using the with-and-without approach, for which the Company used unobservable inputs ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 588.20 Td (that are classified as Level�3 under the fair value hierarchy) Tj ET Q
q 0 0 0 rg BT 307.05 588.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 312.35 588.20 Td (The lease guarantee liabilities are being amortized into ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 575.00 Td (earnings on a straight-line basis over the lives of the respective leases, the longest of which extends through ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 561.80 Td (November 2030. ) Tj ET Q
q 0 0 0 rg BT 126.48 561.80 Td (The lease guarantees are not considered to be measured at fair value at June�30, 2018.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 522.20 Td (1) Tj ET Q
q 0 0 0 rg BT 54.89 522.20 Td (1. Pension and Postr) Tj ET Q
q 0 0 0 rg BT 153.40 522.20 Td (etir) Tj ET Q
q 0 0 0 rg BT 169.68 522.20 Td (ement Benefit Plans) Tj ET Q
BT /F1 11.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 495.80 Td (Defined Contribution Plans) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 469.40 Td (The Company sponsors defined contribution saving plans for most of its U.S. based employees. Eligible Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 456.20 Td (employees may participate in the Meredith Savings and Investment Plan. In connection with the ) Tj ET Q
q 0 0 0 rg BT 474.92 456.20 Td (Acquisition, certain ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 443.00 Td (employees still participate in the defined contribution savings plan that ) Tj ET Q
q 0 0 0 rg BT 364.45 443.00 Td (T) Tj ET Q
q 0 0 0 rg BT 370.78 443.00 Td (ime had in place for their employees in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 429.80 Td (U.S., the ) Tj ET Q
q 0 0 0 rg BT 91.05 429.80 Td (T) Tj ET Q
q 0 0 0 rg BT 97.38 429.80 Td (ime Inc. Savings Plan. ) Tj ET Q
q 0 0 0 rg BT 198.62 429.80 Td (The Company�) Tj ET Q
q 0 0 0 rg BT 264.30 429.80 Td (s existing and assumed ) Tj ET Q
q 0 0 0 rg BT 367.98 429.80 Td (T) Tj ET Q
q 0 0 0 rg BT 374.31 429.80 Td (ime defined contribution plans allow ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 416.60 Td (eligible employees to contribute a percentage of their salary) Tj ET Q
q 0 0 0 rg BT 312.57 416.60 Td (, commissions, and bonuses in accordance with plan ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 403.40 Td (limitations and provisions of Section�401\(k\) of the Internal Revenue Code \(Section�401\(k\)\) and the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 390.20 Td (makes matching contributions to each plan subject to the limits of the respective 401\(k\) Plans.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 363.80 Td (For the Meredith Savings and Investment Plan, the Company currently matches ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 403.15 363.80 Td (100 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 454.77 363.80 Td ( of the first ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.09 363.80 Td (4 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.70 363.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 350.60 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.63 350.60 Td (50 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 114.75 350.60 Td ( of the next ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 167.29 350.60 Td (1 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 207.90 350.60 Td ( of employee contributions. For the ) Tj ET Q
q 0 0 0 rg BT 365.65 350.60 Td (T) Tj ET Q
q 0 0 0 rg BT 371.98 350.60 Td (ime Inc. Savings Plan, the Company ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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50.00 345.03 38.79 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 337.40 Td (matches ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
88.79 345.03 51.62 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 88.79 337.40 Td (100 percent) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
140.41 345.03 51.32 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 140.41 337.40 Td ( of the first ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
191.73 345.03 40.62 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 191.73 337.40 Td (4 percent) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
232.34 345.03 21.38 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 232.34 337.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
253.73 345.03 46.12 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 253.73 337.40 Td (50 percent) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
299.84 345.03 52.54 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 299.84 337.40 Td ( of the next ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
352.38 345.03 40.62 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 352.38 337.40 Td (2 percent) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
393.00 345.03 167.71 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 393.00 337.40 Td ( of eligible compensation. In addition ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 331.83 214.34 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 324.20 Td (to the annual employer contribution made to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 264.24 324.20 Td (T) Tj ET Q
q 0 0 0 rg BT 270.57 324.20 Td (ime Inc. Savings Plan) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
366.51 331.83 174.60 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 366.51 324.20 Td (, following the plan year) Tj ET Q
q 0 0 0 rg BT 473.90 324.20 Td (, the Company ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 318.63 211.39 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 311.00 Td (makes an employer match contribution of up to ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
261.39 318.63 40.62 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 261.39 311.00 Td (5 percent) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
302.01 318.63 240.70 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 302.01 311.00 Td ( of each participant�) Tj ET Q
q 0 0 0 rg BT 389.66 311.00 Td (s compensation less any employer ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 305.43 408.13 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 297.80 Td (matching contribution made within the plan year to those participants who contributed up to ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
458.13 305.43 40.62 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 458.13 297.80 Td (6 percent) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
498.74 305.43 37.57 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 498.74 297.80 Td ( of their ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 292.23 138.37 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 284.60 Td (compensation for the plan year) Tj ET Q
q 0 0 0 rg BT 185.62 284.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 258.20 Td (Both plans allow employees to choose among various investment options. ) Tj ET Q
q 0 0 0 rg BT 378.23 258.20 Td (The Meredith Savings and Investment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 245.00 Td (Plan also includes an investment option in the Company�) Tj ET Q
q 0 0 0 rg BT 300.52 245.00 Td (s common stock. Matching contributions are invested in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 231.80 Td (the same manner as the participants�) Tj ET Q
q 0 0 0 rg BT 209.54 231.80 Td ( pre-tax contributions. Company contribution expense under these plans totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 218.60 Td ($19.6 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
109.28 226.23 40.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 109.28 218.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
149.91 226.23 22.00 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 149.91 218.60 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
171.91 226.23 5.50 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 171.91 218.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
177.41 226.23 59.28 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 177.41 218.60 Td ($10.9 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
236.69 226.23 40.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 236.69 218.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
277.32 226.23 22.00 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 277.32 218.60 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
299.32 226.23 24.13 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 299.32 218.60 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
323.45 226.23 53.78 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 323.45 218.60 Td ($9.6 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
377.23 226.23 40.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 377.23 218.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
417.86 226.23 22.00 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 417.86 218.60 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
439.86 226.23 2.75 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 439.86 218.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 199.83 453.81 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 192.20 Td (In connection with the ) Tj ET Q
q 0 0 0 rg BT 150.81 192.20 Td (Acquisition, the Company assumed responsibility for sponsoring ) Tj ET Q
q 0 0 0 rg BT 439.03 192.20 Td (The ) Tj ET Q
q 0 0 0 rg BT 458.69 192.20 Td (T) Tj ET Q
q 0 0 0 rg BT 465.02 192.20 Td (ime Inc. ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 186.63 213.25 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 179.00 Td (Supplemental Savings Plan \(Supplemental Plan\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 263.25 179.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 268.56 179.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
288.41 186.63 85.55 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 288.41 179.00 Td (Supplemental Plan ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.95 179.00 Td (permits eligible employees who ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 165.80 Td (participate in the ) Tj ET Q
q 0 0 0 rg BT 126.46 165.80 Td (T) Tj ET Q
q 0 0 0 rg BT 132.80 165.80 Td (ime Inc. Savings Plan and are limited in the amount they can contribute under Section�401\(k\) to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 152.60 Td (defer a percentage of ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
145.27 160.23 96.84 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 145.27 152.60 Td (eligible compensation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 242.10 152.60 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
263.48 160.23 202.80 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 263.48 152.60 Td (receive a company matching deferral of up to ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
466.28 160.23 40.62 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 466.28 152.60 Td (5 percent) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
506.90 160.23 50.40 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 506.90 152.60 Td ( of eligible ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 147.03 234.10 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 139.40 Td (compensation. ) Tj ET Q
q 0 0 0 rg BT 116.40 139.40 Td (The matching contributions vest after ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
284.10 147.03 16.50 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 284.10 139.40 Td (two) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
300.60 147.03 120.04 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 300.60 139.40 Td ( years of Company service ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.64 139.40 Td (pursuant to Section�409A) Tj ET Q
q 0 0 0 rg BT 532.16 139.40 Td ( of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 126.20 Td (Internal Revenue Code and limitations described in the ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
294.99 133.83 82.80 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 294.99 126.20 Td (Supplemental Plan) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.78 126.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 107.43 512.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 99.80 Td (The Company sponsors the Meredith Corporation Deferred Compensation Plan. In connection with the ) Tj ET Q
q 0 0 0 rg BT 505.80 99.80 Td (Acquisition, ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 94.23 507.55 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 86.60 Td (the Company assumed responsibility for sponsoring ) Tj ET Q
q 0 0 0 rg BT 281.39 86.60 Td (The ) Tj ET Q
q 0 0 0 rg BT 301.04 86.60 Td (T) Tj ET Q
q 0 0 0 rg BT 307.38 86.60 Td (ime Inc. Deferred Compensation Plan, which is a frozen ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 81.03 509.00 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 73.40 Td (plan \(collectively the Deferred Compensation Plans\). ) Tj ET Q
q 0 0 0 rg BT 286.53 73.40 Td (The Deferred Compensation Plans allow participants to defer ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 67.83 490.86 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 60.20 Td (certain bonuses and salaries. No actual monies are set aside in respect of the Deferred Compensation Plans and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 54.63 507.99 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 47.00 Td (participants have no rights to Company assets in respect of plan liabilities in excess of general unsecured creditors. ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (95) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 749.03 509.55 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 741.40 Td (The liabilities associated with the plans fluctuate with hypothetical yields of the underlying investments. Liabilities ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 735.83 215.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 728.20 Td (for the uncollateralized plans, were approximatel) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.63 728.20 Td (y ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 273.88 728.20 Td ($29.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 333.16 728.20 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.60 728.20 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.01 728.20 Td (, of which approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.34 728.20 Td ($8.4 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 715.00 Td ( was reflected in accrued compensation and benefits and approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.82 715.00 Td ($21.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.10 715.00 Td ( was reflected within ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (other noncurrent liabilities on the Consolidated Balance Sheets.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (Pension and Postr) Tj ET Q
q 0 0 0 rg BT 134.76 675.40 Td (etir) Tj ET Q
q 0 0 0 rg BT 151.04 675.40 Td (ement Plans) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (Meredith has U.S. noncontributory pension plans covering substantially all employees who were employed by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (Meredith prior to the ) Tj ET Q
q 0 0 0 rg BT 144.09 635.80 Td (Acquisition. In connection with the ) Tj ET Q
q 0 0 0 rg BT 301.73 635.80 Td (Acquisition, the Company assumed the obligations under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (T) Tj ET Q
q 0 0 0 rg BT 56.33 622.60 Td (ime�) Tj ET Q
q 0 0 0 rg BT 75.88 622.60 Td (s various international pension plans including plans in the U.K., Netherlands, and Germany) Tj ET Q
q 0 0 0 rg BT 481.47 622.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 486.77 622.60 Td (These domestic ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (and international plans include qualified \(funded\) plans as well as nonqualified \(unfunded\) plans. ) Tj ET Q
q 0 0 0 rg BT 480.51 609.40 Td (These plans ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (provide participating employees with retirement benefits in accordance with benefit provision formulas. ) Tj ET Q
q 0 0 0 rg BT 510.13 596.20 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (nonqualified plans provide retirement benefits only to certain highly compensated employees. ) Tj ET Q
q 0 0 0 rg BT 465.85 583.00 Td (The Company also ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (sponsors defined healthcare and life insurance plans that provide benefits to eligible retirees.) Tj ET Q
BT /F5 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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410.50 411.30 45.00 -15.00 re f
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455.50 411.30 4.00 -15.00 re f
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459.50 411.30 4.00 -15.00 re f
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349.50 381.30 45.00 -15.00 re f
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/GS0 gs
394.50 381.30 4.00 -15.00 re f
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/GS0 gs
398.50 381.30 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
402.50 381.30 8.00 -15.00 re f
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455.50 381.30 4.00 -15.00 re f
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/GS0 gs
459.50 381.30 4.00 -15.00 re f
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/GS0 gs
463.50 381.30 4.00 -15.00 re f
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/GS0 gs
467.50 381.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
512.50 381.30 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
516.50 381.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 351.30 251.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
300.50 351.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
345.50 351.30 4.00 -15.00 re f
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/GS0 gs
349.50 351.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
394.50 351.30 4.00 -15.00 re f
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/GS0 gs
398.50 351.30 4.00 -15.00 re f
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402.50 351.30 8.00 -15.00 re f
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/GS0 gs
410.50 351.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
455.50 351.30 4.00 -15.00 re f
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/GS0 gs
459.50 351.30 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
463.50 351.30 4.00 -15.00 re f
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/GS0 gs
467.50 351.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
512.50 351.30 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
516.50 351.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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49.50 321.30 251.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
300.50 321.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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345.50 321.30 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
349.50 321.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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394.50 321.30 4.00 -15.00 re f
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398.50 321.30 4.00 -15.00 re f
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402.50 321.30 8.00 -15.00 re f
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410.50 321.30 45.00 -15.00 re f
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455.50 321.30 4.00 -15.00 re f
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459.50 321.30 4.00 -15.00 re f
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/GS0 gs
463.50 321.30 4.00 -15.00 re f
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/GS0 gs
467.50 321.30 45.00 -15.00 re f
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512.50 321.30 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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516.50 321.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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349.50 291.30 45.00 -15.00 re f
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394.50 291.30 4.00 -15.00 re f
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512.50 291.30 4.00 -15.00 re f
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516.50 291.30 45.00 -15.00 re f
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410.50 261.30 45.00 -15.00 re f
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455.50 261.30 4.00 -15.00 re f
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459.50 261.30 4.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
463.50 261.30 4.00 -15.00 re f
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349.50 216.30 45.00 -15.00 re f
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/GS0 gs
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/GS0 gs
459.50 216.30 4.00 -15.00 re f
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463.50 216.30 4.00 -15.00 re f
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467.50 216.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
512.50 216.30 4.00 -15.00 re f
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516.50 216.30 45.00 -15.00 re f
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 362.80 483.98 Td (Pension) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 482.25 483.98 Td (Postr) Tj ET Q
q 0 0 0 rg BT 504.93 483.98 Td (etir) Tj ET Q
q 0 0 0 rg BT 519.73 483.98 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 327.25 459.98 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 418.15 469.98 Td (Inter) Tj ET Q
q 0 0 0 rg BT 439.44 469.98 Td (-) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 412.95 459.98 Td (national) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 494.25 459.98 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 445.98 Td (June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 312.50 445.98 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 361.50 445.98 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 422.50 445.98 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 479.50 445.98 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 528.50 445.98 Td (2017) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 430.75 Td (\(In millions\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 52.00 416.20 Td (Change in benefit obligation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 401.17 Td (Benefit obligation, beginning of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 217.25 401.17 Td (.............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.00 401.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.50 401.17 Td (170.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 352.00 401.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.50 401.17 Td (161.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.00 401.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.25 401.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 470.00 401.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.50 401.17 Td (9.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.00 401.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.50 401.17 Td (9.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 386.17 Td (Acquisitions ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 110.36 391.16 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 115.50 386.17 Td (..................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.25 386.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.25 386.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.50 386.17 Td (836.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.25 386.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.25 386.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 371.17 Td (Service cost) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.25 371.17 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.00 371.17 Td (13.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.00 371.17 Td (12.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.25 371.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.50 371.17 Td (0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.50 371.17 Td (0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 356.17 Td (Interest cost) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.25 356.17 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 327.50 356.17 Td (5.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.50 356.17 Td (4.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.50 356.17 Td (8.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.50 356.17 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.50 356.17 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 341.17 Td (Participant contributions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 162.25 341.17 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.25 341.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.25 341.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.25 341.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.50 341.17 Td (0.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.50 341.17 Td (0.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 326.17 Td (Plan amendments) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 132.00 326.17 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 327.50 326.17 Td (1.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.50 326.17 Td (0.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.25 326.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.25 326.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.25 326.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 311.17 Td (Net actuarial loss \(gain\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.50 311.17 Td (..................................................) Tj ET Q
BT /F2 11.00 Tf ET
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519.5 503.7 m
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 367.80 642.38 Td (Pension) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 482.25 642.38 Td (Postr) Tj ET Q
q 0 0 0 rg BT 504.93 642.38 Td (etir) Tj ET Q
q 0 0 0 rg BT 519.73 642.38 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 326.75 628.38 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 400.15 628.38 Td (International) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 496.75 628.38 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 614.38 Td (June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 313.00 614.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 360.00 614.38 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 426.00 614.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 483.00 614.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 530.00 614.38 Td (2017) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 599.15 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 584.57 Td (Other assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 569.57 Td (Prepaid benefit cost) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 158.75 569.57 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.00 569.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 321.00 569.57 Td (16.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 352.00 569.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.00 569.57 Td (16.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 418.00 569.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.50 569.57 Td (137.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 475.00 569.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.25 569.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 522.00 569.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.25 569.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 553.62 Td (Accrued expenses-compensation and benefits) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 538.57 Td (Accrued benefit liability) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.00 538.57 Td (............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.85 538.57 Td (\(9.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.30 538.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 369.85 538.57 Td (\(5.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.30 538.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.85 538.57 Td (\(0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 453.30 538.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.85 538.57 Td (\(0.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 510.30 538.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 538.57 Td (\(0.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 538.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 523.57 Td (Other noncurrent liabilities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 508.57 Td (Accrued benefit liability) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.00 508.57 Td (............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.35 508.57 Td (\(47.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.30 508.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.35 508.57 Td (\(42.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.30 508.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.35 508.57 Td (\(17.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 453.30 508.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.85 508.57 Td (\(7.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 510.30 508.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 508.57 Td (\(8.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 508.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 493.57 Td (Net amount recognized, end of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 211.00 493.57 Td (................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.35 493.57 Td (\(40.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.30 493.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 352.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.35 493.57 Td (\(31.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.30 493.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 418.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.50 493.57 Td (120.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 475.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.85 493.57 Td (\(8.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 510.30 493.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 522.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 493.57 Td (\(9.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 493.57 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 462.80 Td (The accumulated benefit obligation for the domestic defined benefit pension plans was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.88 462.80 Td ($164.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.66 462.80 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.04 462.80 Td ($154.0 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 449.60 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
81.78 457.23 13.44 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 81.78 449.60 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
95.22 457.23 61.41 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 95.22 449.60 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
156.63 457.23 21.38 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 156.63 449.60 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
178.01 457.23 22.00 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 178.01 449.60 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
200.01 457.23 60.68 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 200.01 449.60 Td (, respectively) Tj ET Q
q 0 0 0 rg BT 257.94 449.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 260.69 449.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 263.24 449.60 Td (The accumulated benefit obligation for the international defined ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 436.40 Td (benefit pension plans was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 166.09 436.40 Td ($721.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 230.87 436.40 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 244.30 436.40 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.72 436.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 410.00 Td (The following table provides information about pension plans with projected benefit obligations and accumulated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 396.80 Td (benefit obligations in excess of plan assets:) Tj ET Q
1 1 1 rg
/GS0 gs
125.00 345.10 180.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
305.00 345.10 50.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
355.00 345.10 9.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
364.00 345.10 50.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
414.00 345.10 15.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
429.00 345.10 50.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
479.00 345.10 7.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
125.00 330.10 180.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.00 330.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
355.00 330.10 9.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
364.00 330.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 330.10 15.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
429.00 330.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
479.00 330.10 7.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
125.00 300.10 180.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.00 300.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
355.00 300.10 9.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
364.00 300.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 300.10 15.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
429.00 300.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
479.00 300.10 7.00 -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
125 373.1 m
305 373.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305 373.1 m
355 373.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305 359.1 m
355 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 373.1 m
364 373.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 359.1 m
364 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
364 373.1 m
414 373.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
364 359.1 m
414 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 373.1 m
414 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 373.1 m
429 373.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 359.1 m
429 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
429 373.1 m
479 373.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
429 359.1 m
479 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
479 373.1 m
486 373.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
479 359.1 m
486 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
125 345.1 m
305 345.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305 359.1 m
355 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305 345.1 m
355 345.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 359.1 m
364 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 345.1 m
364 345.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
364 359.1 m
414 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
364 345.1 m
414 345.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 359.1 m
414 345.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 359.1 m
429 359.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 345.1 m
429 345.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
429 345.1 m
479 345.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
479 345.1 m
486 345.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 345.1 m
414 330.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 330.1 m
414 315.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 315.1 m
414 300.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
125 285.1 m
305 285.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
305 285.1 m
355 285.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 285.1 m
364 285.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
364 285.1 m
414 285.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 300.1 m
414 285.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 285.1 m
429 285.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
429 285.1 m
479 285.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
479 285.1 m
486 285.1 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 339.25 363.78 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 421.15 363.78 Td (International) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 127.50 349.83 Td (June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 319.50 349.78 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 378.50 349.78 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 443.50 349.78 Td (2018) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 127.50 335.45 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 319.97 Td (Projected benefit obligation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 252.00 319.97 Td (..................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 307.50 319.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.50 319.97 Td (57.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 366.50 319.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.50 319.97 Td (48.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 431.50 319.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.50 319.97 Td (28.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 304.97 Td (Accumulated benefit obligation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 268.50 304.97 Td (............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.50 304.97 Td (51.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.50 304.97 Td (42.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.50 304.97 Td (28.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 289.97 Td (Fair value of plan assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 235.50 289.97 Td (........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 337.05 289.97 Td (0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 396.05 289.97 Td (0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.50 289.97 Td (1) Tj ET Q
q 0 0 0 rg BT 461.00 289.97 Td (1.0) Tj ET Q
BT /F2 10.00 Tf ET
endstream
endobj
199 0 obj
<>
endobj
200 0 obj
<>
stream
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (97) Tj ET Q
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.60 Td (Costs) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.40 Td (The components of net periodic benefit costs recognized in the Consolidated Statements of Earnings were as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 610.50 198.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
247.50 610.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
287.50 610.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.50 610.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.50 610.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
335.50 610.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
375.50 610.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
379.50 610.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.50 610.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
429.50 610.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
433.50 610.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.50 610.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
477.50 610.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.50 610.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
521.50 610.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 580.50 198.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
247.50 580.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
287.50 580.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.50 580.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.50 580.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
335.50 580.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
375.50 580.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
379.50 580.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.50 580.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
429.50 580.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
433.50 580.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.50 580.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
477.50 580.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.50 580.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
521.50 580.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 550.50 198.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
247.50 550.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
287.50 550.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.50 550.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.50 550.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
335.50 550.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
375.50 550.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
379.50 550.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.50 550.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
429.50 550.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
433.50 550.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.50 550.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
477.50 550.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.50 550.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
521.50 550.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 520.50 198.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
247.50 520.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
287.50 520.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.50 520.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.50 520.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
335.50 520.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
375.50 520.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
379.50 520.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
389.50 520.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
429.50 520.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
433.50 520.50 40.00 -15.00 re f
/GS0 gs
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473.5 505.5 m
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521.5 505.5 m
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 323.30 682.18 Td (Pension) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 465.25 682.18 Td (Postr) Tj ET Q
q 0 0 0 rg BT 487.93 682.18 Td (etir) Tj ET Q
q 0 0 0 rg BT 502.73 682.18 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 291.25 658.18 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 393.65 668.18 Td (Inter) Tj ET Q
q 0 0 0 rg BT 414.94 668.18 Td (-) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 388.45 658.18 Td (national) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 477.25 658.18 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 643.37 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 643.37 Td (ears ended June�30,) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.00 643.37 Td ( ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 257.00 644.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 301.00 644.18 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 345.00 644.18 Td (2016) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 399.00 644.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 443.00 644.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 487.00 644.18 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 520.00 644.18 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 531.00 644.18 Td (2016) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 628.95 Td (\(In millions\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 52.00 614.55 Td (Components of net periodic benefit costs) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 600.37 Td (Service cost) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 106.50 600.37 Td (..................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.00 600.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 264.05 600.37 Td (13.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 294.00 600.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.05 600.37 Td (12.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.00 600.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 352.05 600.37 Td (1) Tj ET Q
q 0 0 0 rg BT 357.55 600.37 Td (1.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.00 600.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.30 600.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.00 600.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.55 600.37 Td (0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.00 600.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.55 600.37 Td (0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.00 600.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.55 600.37 Td (0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 585.37 Td (Interest cost) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 106.50 585.37 Td (..................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.55 585.37 Td (5.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.55 585.37 Td (4.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 357.55 585.37 Td (5.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.55 585.37 Td (8.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.55 585.37 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.55 585.37 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.55 585.37 Td (0.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 570.37 Td (Expected return on plan assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.25 570.37 Td (.....................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 260.35 570.37 Td (\(10.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 283.30 570.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.85 570.37 Td (\(9.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 327.30 570.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 348.35 570.37 Td (\(1) Tj ET Q
q 0 0 0 rg BT 357.51 570.37 Td (1.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.30 570.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.35 570.37 Td (\(17.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.30 570.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.30 570.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.30 570.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 570.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 555.37 Td (Prior service cost \(credit\) amortization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.00 555.37 Td (........) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.55 555.37 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.55 555.37 Td (0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 357.55 555.37 Td (0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.30 555.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 451.85 555.37 Td (\(0.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.30 555.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 495.85 555.37 Td (\(0.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.30 555.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 555.37 Td (\(0.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 555.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 540.37 Td (Actuarial loss \(gain\) amortization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 202.75 540.37 Td (...............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.55 540.37 Td (2.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.55 540.37 Td (3.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 357.55 540.37 Td (0.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.30 540.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 451.85 540.37 Td (\(0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.30 540.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 495.85 540.37 Td (\(0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.30 540.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 540.37 Td (\(0.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 540.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 525.37 Td (Settlement char) Tj ET Q
q 0 0 0 rg BT 120.62 525.37 Td (ge) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 131.25 525.37 Td (.........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 272.30 525.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.30 525.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 357.55 525.37 Td (5.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.55 525.37 Td (0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.30 525.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.30 525.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 525.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 510.37 Td (Net periodic benefit costs \(credit\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 200.00 510.37 Td (................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.00 510.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 264.05 510.37 Td (10.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 294.00 510.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.05 510.37 Td (12.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.00 510.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 352.05 510.37 Td (13.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.00 510.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 407.85 510.37 Td (\(9.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.30 510.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.00 510.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 451.85 510.37 Td (\(0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.30 510.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.00 510.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 495.85 510.37 Td (\(0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.30 510.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.00 510.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 510.37 Td (\(0.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 510.37 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 479.60 Td (The amortization of amounts related to unrecognized prior service costs/credit and net actuarial gain/loss were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 466.40 Td (reclassified out of other comprehensive income as components of net periodic benefit costs.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 440.00 Td (The pension settlement char) Tj ET Q
q 0 0 0 rg BT 173.51 440.00 Td (ge recorded in fiscal 2016 related to cash distributions paid by the pension plan during ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 426.80 Td (fiscal 2016 exceeding a prescribed threshold. ) Tj ET Q
q 0 0 0 rg BT 251.09 426.80 Td (This required that a portion of pension losses within accumulated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 413.60 Td (other comprehensive loss be realized in the period that the related pension liabilities were settled.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 387.20 Td (Amounts recognized in the accumulated other comprehensive loss component of shareholders�) Tj ET Q
q 0 0 0 rg BT 466.44 387.20 Td ( equity for Company-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 374.00 Td (sponsored plans were as follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
55.50 291.30 255.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
310.50 291.30 42.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.50 291.30 4.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
356.50 291.30 42.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
398.50 291.30 19.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
417.50 291.30 42.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
459.50 291.30 4.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
463.50 291.30 4.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
467.50 291.30 42.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
509.50 291.30 4.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
513.50 291.30 42.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
55.50 259.30 255.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
310.50 259.30 42.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.50 259.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
356.50 259.30 42.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
398.50 259.30 19.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
417.50 259.30 42.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
459.50 259.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
463.50 259.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
467.50 259.30 42.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
509.50 259.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
513.50 259.30 42.00 -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
55.5 350.29999999999995 m
310.5 350.29999999999995 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
310.5 350.29999999999995 m
352.5 350.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
310.5 336.29999999999995 m
352.5 336.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352.5 350.29999999999995 m
356.5 350.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352.5 336.29999999999995 m
356.5 336.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
356.5 350.29999999999995 m
398.5 350.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
356.5 336.29999999999995 m
398.5 336.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
398.5 350.29999999999995 m
417.5 350.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
398.5 336.29999999999995 m
417.5 336.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
417.5 350.29999999999995 m
459.5 350.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
459.5 350.29999999999995 m
463.5 350.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
463.5 350.29999999999995 m
463.5 336.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
463.5 350.29999999999995 m
467.5 350.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
463.5 336.29999999999995 m
467.5 336.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
467.5 350.29999999999995 m
509.5 350.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
467.5 336.29999999999995 m
509.5 336.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
509.5 350.29999999999995 m
513.5 350.29999999999995 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
509.5 336.29999999999995 m
513.5 336.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
513.5 350.29999999999995 m
555.5 350.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
513.5 336.29999999999995 m
555.5 336.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
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3 M
310.5 321.29999999999995 m
352.5 321.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352.5 321.29999999999995 m
356.5 321.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
398.5 336.29999999999995 m
398.5 321.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
356.5 321.29999999999995 m
398.5 321.29999999999995 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
398.5 336.29999999999995 m
398.5 321.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
398.5 336.29999999999995 m
417.5 336.29999999999995 l
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0 0 0 RG
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1.00 w
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0 J
0 j
3 M
398.5 321.29999999999995 m
417.5 321.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
417.5 336.29999999999995 m
459.5 336.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
417.5 321.29999999999995 m
459.5 321.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
463.5 336.29999999999995 m
463.5 321.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
459.5 336.29999999999995 m
463.5 336.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
459.5 321.29999999999995 m
463.5 321.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
463.5 336.29999999999995 m
463.5 321.29999999999995 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
463.5 321.29999999999995 m
467.5 321.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
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0 J
0 j
3 M
467.5 336.29999999999995 m
509.5 336.29999999999995 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
0 j
3 M
467.5 321.29999999999995 m
509.5 321.29999999999995 l
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0 0 0 RG
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1.00 w
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[] 0 d
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0 j
3 M
509.5 336.29999999999995 m
513.5 336.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
509.5 321.29999999999995 m
513.5 321.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
513.5 336.29999999999995 m
555.5 336.29999999999995 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
513.5 321.29999999999995 m
555.5 321.29999999999995 l
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0 0 0 RG
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 479.25 340.98 Td (Postr) Tj ET Q
q 0 0 0 rg BT 501.93 340.98 Td (etir) Tj ET Q
q 0 0 0 rg BT 516.73 340.98 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 402.15 325.98 Td (International) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 491.25 325.98 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 58.00 310.98 Td (June 30,) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F3 9.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F5 11.00 Tf ET
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448 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 676.7 m
452 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
452 690.7 m
491 690.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
452 676.7 m
491 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
491 690.7 m
496 690.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
491 676.7 m
496 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
496 690.7 m
536 690.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
496 676.7 m
536 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
75 662.7 m
285 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
285 676.7 m
327 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
285 662.7 m
327 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 676.7 m
332 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 662.7 m
332 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
332 676.7 m
374 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
332 662.7 m
374 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
379 676.7 m
379 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
374 676.7 m
379 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
374 662.7 m
379 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
379 676.7 m
396 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
379 662.7 m
396 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
396 662.7 m
437 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437 662.7 m
443 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 676.7 m
448 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
443 662.7 m
448 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 662.7 m
452 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
452 676.7 m
491 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
452 662.7 m
491 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
491 662.7 m
496 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
496 676.7 m
536 676.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
496 662.7 m
536 662.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
379 662.7 m
379 647.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 662.7 m
448 647.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
379 647.7 m
379 632.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 647.7 m
448 632.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
75 617.7 m
285 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
285 617.7 m
327 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 617.7 m
332 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
332 617.7 m
374 617.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
379 632.7 m
379 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
374 617.7 m
379 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
379 617.7 m
396 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
396 617.7 m
437 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
437 617.7 m
443 617.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 632.7 m
448 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
443 617.7 m
448 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 617.7 m
452 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
452 617.7 m
491 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
491 617.7 m
496 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
496 617.7 m
536 617.7 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 349.30 695.38 Td (Pension) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 459.75 695.38 Td (Postr) Tj ET Q
q 0 0 0 rg BT 482.43 695.38 Td (etir) Tj ET Q
q 0 0 0 rg BT 497.23 695.38 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 309.25 681.38 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 382.15 681.38 Td (International) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 473.75 681.38 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 77.50 667.38 Td (June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 295.50 667.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 342.50 667.38 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 406.00 667.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 461.00 667.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 505.50 667.38 Td (2017) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 77.50 652.60 Td (W) Tj ET Q
q 0 0 0 rg BT 87.89 652.60 Td (eighted average assumptions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 77.50 637.57 Td (Discount rate) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.50 637.57 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 298.05 637.57 Td (4.03) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.30 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.05 637.57 Td (3.41) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.30 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.05 637.57 Td (2.57) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.30 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 462.05 637.57 Td (4.10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 481.30 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.05 637.57 Td (3.65) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.30 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 77.50 622.57 Td (Rate of compensation increase) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 212.75 622.57 Td (.........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 298.05 622.57 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.30 622.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.05 622.57 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.30 622.57 Td (%) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 419.40 622.56 Td (n/a) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 462.05 622.57 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 481.30 622.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.05 622.57 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.30 622.57 Td (%) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 77.50 607.15 Td (n/a - Not applicable) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 576.80 Td (Net periodic benefit costs were determined using the following weighted average assumptions:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
56.00 488.10 156.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
212.00 488.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
255.00 488.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
259.00 488.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
302.00 488.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
306.00 488.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
349.00 488.10 6.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
355.00 488.10 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
367.00 488.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
410.00 488.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 488.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.00 488.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 488.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
465.00 488.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
508.00 488.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
512.00 488.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
56.00 458.10 156.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
212.00 458.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
255.00 458.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
259.00 458.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
302.00 458.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
306.00 458.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
349.00 458.10 6.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
355.00 458.10 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
367.00 458.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
410.00 458.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
414.00 458.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.00 458.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.00 458.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
465.00 458.10 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
508.00 458.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
512.00 458.10 43.00 -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
56 553.1 m
212 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
212 553.1 m
255 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
212 539.1 m
255 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
255 553.1 m
259 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
255 539.1 m
259 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
259 553.1 m
302 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
259 539.1 m
302 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
302 553.1 m
306 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
302 539.1 m
306 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
306 553.1 m
349 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
306 539.1 m
349 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349 553.1 m
355 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349 539.1 m
355 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 553.1 m
367 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 539.1 m
367 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
367 553.1 m
410 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
410 553.1 m
414 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 553.1 m
418 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 553.1 m
418 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 539.1 m
418 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 553.1 m
461 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 539.1 m
461 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461 553.1 m
465 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461 539.1 m
465 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
465 553.1 m
508 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
465 539.1 m
508 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
508 553.1 m
512 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
508 539.1 m
512 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
512 553.1 m
555 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
512 539.1 m
555 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
212 517.1 m
255 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
255 517.1 m
259 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
259 517.1 m
302 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
302 517.1 m
306 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
306 517.1 m
349 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 539.1 m
355 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349 517.1 m
355 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 539.1 m
367 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 517.1 m
367 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
367 539.1 m
410 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
367 517.1 m
410 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
410 539.1 m
414 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
410 517.1 m
414 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 539.1 m
418 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 539.1 m
418 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 517.1 m
418 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 539.1 m
461 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 517.1 m
461 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461 539.1 m
465 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461 517.1 m
465 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
465 539.1 m
508 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
465 517.1 m
508 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
508 539.1 m
512 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
508 517.1 m
512 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
512 539.1 m
555 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
512 517.1 m
555 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
56 503.1 m
212 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
212 503.1 m
255 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
255 503.1 m
259 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
259 503.1 m
302 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
302 503.1 m
306 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
306 503.1 m
349 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 517.1 m
355 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349 517.1 m
355 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349 503.1 m
355 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 503.1 m
367 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
367 503.1 m
410 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
410 503.1 m
414 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 517.1 m
418 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 517.1 m
418 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 503.1 m
418 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 517.1 m
461 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 503.1 m
461 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461 503.1 m
465 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
465 517.1 m
508 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
465 503.1 m
508 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
508 503.1 m
512 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
512 517.1 m
555 517.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
512 503.1 m
555 503.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 503.1 m
355 488.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 503.1 m
418 488.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 488.1 m
355 473.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 488.1 m
418 473.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 473.1 m
355 458.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 473.1 m
418 458.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
56 443.1 m
212 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
212 443.1 m
255 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
255 443.1 m
259 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
259 443.1 m
302 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
302 443.1 m
306 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
306 443.1 m
349 443.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 458.1 m
355 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
349 443.1 m
355 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
355 443.1 m
367 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
367 443.1 m
410 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
410 443.1 m
414 443.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 458.1 m
418 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
414 443.1 m
418 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
418 443.1 m
461 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
461 443.1 m
465 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
465 443.1 m
508 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
508 443.1 m
512 443.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
512 443.1 m
555 443.1 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 295.80 543.78 Td (Pension) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 454.25 543.78 Td (Postr) Tj ET Q
q 0 0 0 rg BT 476.93 543.78 Td (etir) Tj ET Q
q 0 0 0 rg BT 491.73 543.78 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 260.25 521.78 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 371.65 529.83 Td (Inter) Tj ET Q
q 0 0 0 rg BT 392.94 529.83 Td (-) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 366.45 519.83 Td (national) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 466.25 521.78 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 58.50 507.78 Td (Y) Tj ET Q
q 0 0 0 rg BT 64.61 507.78 Td (ears ended June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 223.00 507.78 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 270.00 507.78 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 317.00 507.78 Td (2016) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 378.00 507.78 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 429.00 507.78 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 476.00 507.78 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 523.00 507.78 Td (2016) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 58.50 493.00 Td (W) Tj ET Q
q 0 0 0 rg BT 68.89 493.00 Td (eighted average assumptions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.50 477.97 Td (Discount rate) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 117.75 477.97 Td (.................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.05 477.97 Td (3.41) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 245.30 477.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 273.05 477.97 Td (2.98) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.30 477.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.05 477.97 Td (3.75) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 339.30 477.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.05 477.97 Td (2.57) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 400.30 477.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.05 477.97 Td (3.65) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 451.30 477.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.05 477.97 Td (3.40) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 498.30 477.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.05 477.97 Td (4.20) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 545.30 477.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.50 462.97 Td (Expected return on plan assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 194.75 462.97 Td (.....) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.05 462.97 Td (8.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 245.30 462.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 273.05 462.97 Td (8.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.30 462.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.05 462.97 Td (8.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 339.30 462.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.05 462.97 Td (4.87) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 400.30 462.97 Td (%) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 443.40 462.96 Td (n/a) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 490.40 462.96 Td (n/a) Tj ET Q
BT /F3 11.00 Tf ET
q 0 0 0 rg BT 537.40 462.96 Td (n/a) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.50 447.97 Td (Rate of compensation increase) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 194.75 447.97 Td (.....) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.05 447.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 245.30 447.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 273.05 447.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.30 447.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.05 447.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 339.30 447.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.05 447.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 400.30 447.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.05 447.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 451.30 447.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.05 447.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 498.30 447.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.05 447.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 545.30 447.97 Td (%) Tj ET Q
BT /F3 10.00 Tf ET
q 0 0 0 rg BT 58.50 433.66 Td (n/a - Not applicable) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 404.20 Td (Plan trend rates are the annual rates of increase expected for medical benefits payable from the Plan. ) Tj ET Q
q 0 0 0 rg BT 494.50 404.20 Td (The assumed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 391.00 Td (health care trend rates used to measure the expected cost of benefits were as follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
122.00 337.50 226.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 337.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 337.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.00 337.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 337.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
442.00 337.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
446.00 337.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
122.00 307.50 226.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 307.50 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 307.50 43.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.00 307.50 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 307.50 43.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
442.00 307.50 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
446.00 307.50 43.00 -13.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
122 380.5 m
348 380.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 380.5 m
352 380.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352 380.5 m
395 380.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352 366.5 m
395 366.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395 380.5 m
399 380.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395 366.5 m
399 366.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399 380.5 m
442 380.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399 366.5 m
442 366.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
442 380.5 m
446 380.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
442 366.5 m
446 366.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
446 380.5 m
489 380.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
446 366.5 m
489 366.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
122 352.5 m
348 352.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 352.5 m
352 352.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352 366.5 m
395 366.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352 352.5 m
395 352.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395 352.5 m
399 352.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399 366.5 m
442 366.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399 352.5 m
442 352.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
442 352.5 m
446 352.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
446 366.5 m
489 366.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
446 352.5 m
489 352.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
122 294.5 m
348 294.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 294.5 m
352 294.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
352 294.5 m
395 294.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
395 294.5 m
399 294.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
399 294.5 m
442 294.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
442 294.5 m
446 294.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
446 294.5 m
489 294.5 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 388.25 371.18 Td (Postr) Tj ET Q
q 0 0 0 rg BT 410.93 371.18 Td (etir) Tj ET Q
q 0 0 0 rg BT 425.73 371.18 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 124.50 357.18 Td (Assumed healthcar) Tj ET Q
q 0 0 0 rg BT 206.26 357.18 Td (e cost tr) Tj ET Q
q 0 0 0 rg BT 239.95 357.18 Td (end rates as of June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 363.00 357.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 410.00 357.18 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 457.00 357.18 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 124.50 342.37 Td (Rate of increase in health care cost levels) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.50 327.37 Td (Initial level) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 193.25 327.37 Td (.......................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 366.05 327.37 Td (6.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.30 327.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.05 327.37 Td (7.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.30 327.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 460.05 327.37 Td (7.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.30 327.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.50 312.37 Td (Ultimate level) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 207.00 312.37 Td (..................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 366.05 312.37 Td (5.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.30 312.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.05 312.37 Td (5.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.30 312.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 460.05 312.37 Td (5.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.30 312.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.50 297.42 Td (Y) Tj ET Q
q 0 0 0 rg BT 149.34 297.42 Td (ears to ultimate level) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 242.75 297.42 Td (.....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 360.00 297.42 Td (4 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 407.00 297.42 Td (5 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 454.00 297.42 Td (6 years) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 268.60 Td (Pension expense is calculated using a number of actuarial assumptions, including an expected long-term rate of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 255.40 Td (return on assets and a discount rate. In developing the expected long-term rate of return on plan assets, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 242.20 Td (Company considered long-term historical rates of return, plan asset allocations as well as the opinions and outlooks ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 229.00 Td (of investment professionals and consulting firms. Returns projected by such consultants and economists are based ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 215.80 Td (on broad equity and bond indices. ) Tj ET Q
q 0 0 0 rg BT 201.63 215.80 Td (The objective is to select an average rate of earnings expected on existing plan ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 202.60 Td (assets and expected contributions to the plan during the year) Tj ET Q
q 0 0 0 rg BT 314.84 202.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 320.14 202.60 Td (The Company reviews this long-term assumption on a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 189.40 Td (periodic basis. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 163.00 Td (The value \(market-related value\) of plan assets is multiplied by the expected long-term rate of return on assets to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 149.80 Td (compute the expected return on plan assets, a component of net periodic pension cost. ) Tj ET Q
q 0 0 0 rg BT 430.41 149.80 Td (The market-related value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 136.60 Td (plan assets is a calculated value that recognizes changes in fair value over three years.) Tj ET Q
endstream
endobj
203 0 obj
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endobj
204 0 obj
<>
stream
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (99) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (Assumed rates of increase in healthcare cost have a significant ef) Tj ET Q
q 0 0 0 rg BT 336.29 741.40 Td (fect on the amounts reported for the healthcare ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (plans. ) Tj ET Q
q 0 0 0 rg BT 78.11 728.20 Td (A) Tj ET Q
q 0 0 0 rg BT 85.45 728.20 Td ( change of one percentage point in the assumed healthcare cost trend rates would have the following ef) Tj ET Q
q 0 0 0 rg BT 537.61 728.20 Td (fects:) Tj ET Q
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
69.5 704.5 m
388.5 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
69.5 667.5 m
388.5 667.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
388.5 704.5 m
396.5 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
388.5 667.5 m
396.5 667.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 704.5 m
436.5 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 667.5 m
436.5 667.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
436.5 704.5 m
456.5 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
436.5 667.5 m
456.5 667.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
456.5 704.5 m
471.5 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
456.5 667.5 m
471.5 667.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
471.5 704.5 m
481.5 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
471.5 667.5 m
481.5 667.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 704.5 m
521.5 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 667.5 m
521.5 667.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 704.5 m
541.5 704.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 667.5 m
541.5 667.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
69.5 622.5 m
388.5 622.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
388.5 622.5 m
396.5 622.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 622.5 m
436.5 622.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
436.5 622.5 m
456.5 622.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
456.5 622.5 m
471.5 622.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
471.5 622.5 m
481.5 622.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 622.5 m
521.5 622.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 622.5 m
541.5 622.5 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 413.10 695.23 Td (One) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 398.45 683.23 Td (Per) Tj ET Q
q 0 0 0 rg BT 413.25 683.23 Td (centage) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 391.40 671.23 Td (Point Incr) Tj ET Q
q 0 0 0 rg BT 434.83 671.23 Td (ease) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 497.10 695.23 Td (One) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 482.45 683.23 Td (Per) Tj ET Q
q 0 0 0 rg BT 497.25 683.23 Td (centage) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 474.25 671.23 Td (Point Decr) Tj ET Q
q 0 0 0 rg BT 519.88 671.23 Td (ease) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 72.00 656.95 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 642.37 Td (Ef) Tj ET Q
q 0 0 0 rg BT 82.28 642.37 Td (fect on service and interest cost components for fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.75 642.37 Td (...............) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 399.00 642.17 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 422.65 642.17 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 484.00 642.17 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 507.65 642.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 627.37 Td (Ef) Tj ET Q
q 0 0 0 rg BT 82.18 627.37 Td (fect on postretirement benefit obligation as of June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.25 627.37 Td (.............) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 420.15 627.17 Td (0.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 501.80 627.22 Td (\(0.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 517.65 627.17 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
BT /F5 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.60 Td (Plan ) Tj ET Q
q 0 0 0 rg BT 73.73 596.60 Td (Assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.40 Td (The tar) Tj ET Q
q 0 0 0 rg BT 81.25 583.40 Td (geted and weighted average asset allocations by asset category for investments held by the Company�) Tj ET Q
q 0 0 0 rg BT 527.84 583.40 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.20 Td (pension plans are as follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
92.00 501.50 141.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
233.00 501.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
276.00 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.00 501.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
323.00 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 501.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.00 501.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
421.00 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
425.00 501.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 501.50 43.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
515.00 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
92.00 471.50 141.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
233.00 471.50 43.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
276.00 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
280.00 471.50 43.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
323.00 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
327.00 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.00 471.50 43.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
374.00 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.00 471.50 43.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
421.00 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
425.00 471.50 43.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.00 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
472.00 471.50 43.00 -17.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
515.00 471.50 4.00 -17.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
92.00 454.50 141.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
92.00 439.50 141.00 -7.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
92 546.5 m
233 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
233 546.5 m
276 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
233 531.5 m
276 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
276 546.5 m
280 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
276 531.5 m
280 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
280 546.5 m
323 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
280 531.5 m
323 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
323 546.5 m
327 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
323 531.5 m
327 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 546.5 m
331 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 531.5 m
331 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331 546.5 m
374 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331 531.5 m
374 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
374 546.5 m
378 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
374 531.5 m
378 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
378 546.5 m
421 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
378 531.5 m
421 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421 546.5 m
425 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421 531.5 m
425 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 546.5 m
425 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 546.5 m
468 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
468 546.5 m
472 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
472 546.5 m
515 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
233 531.5 m
276 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
233 516.5 m
276 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
276 531.5 m
280 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
276 516.5 m
280 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
280 531.5 m
323 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
280 516.5 m
323 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
323 531.5 m
327 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
323 516.5 m
327 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 531.5 m
327 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 531.5 m
331 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 516.5 m
331 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331 531.5 m
374 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331 516.5 m
374 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
374 531.5 m
378 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
374 516.5 m
378 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
378 531.5 m
421 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
378 516.5 m
421 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421 531.5 m
425 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421 516.5 m
425 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 531.5 m
425 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 531.5 m
468 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
468 531.5 m
472 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
468 516.5 m
472 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
472 531.5 m
515 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
472 516.5 m
515 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
92 501.5 m
233 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
233 501.5 m
276 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
276 501.5 m
280 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
280 501.5 m
323 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
323 501.5 m
327 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 516.5 m
327 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 501.5 m
331 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331 501.5 m
374 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
374 501.5 m
378 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
378 501.5 m
421 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421 501.5 m
425 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 516.5 m
425 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 516.5 m
468 516.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
468 501.5 m
472 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
472 501.5 m
515 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
233 501.5 m
276 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
276 501.5 m
280 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
280 501.5 m
323 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
323 501.5 m
327 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 501.5 m
327 486.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 501.5 m
331 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331 501.5 m
374 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
378 501.5 m
421 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421 501.5 m
425 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 501.5 m
425 486.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 501.5 m
468 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
468 501.5 m
472 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
472 501.5 m
515 501.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 486.5 m
327 471.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 486.5 m
425 471.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
92 454.5 m
233 454.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
233 454.5 m
276 454.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
276 454.5 m
280 454.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
280 454.5 m
323 454.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
323 454.5 m
327 454.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 471.5 m
327 454.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 454.5 m
331 454.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331 454.5 m
374 454.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
374 454.5 m
378 454.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
378 454.5 m
421 454.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 471.5 m
425 454.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
92 439.5 m
233 439.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
233 439.5 m
276 439.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
276 439.5 m
280 439.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
280 454.5 m
323 454.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
280 439.5 m
323 439.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
323 439.5 m
327 439.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 454.5 m
327 439.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
327 439.5 m
331 439.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
331 439.5 m
374 439.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
374 439.5 m
378 439.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
378 439.5 m
421 439.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421 454.5 m
425 454.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
421 439.5 m
425 439.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 454.5 m
425 439.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 454.5 m
468 454.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
425 439.5 m
468 439.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
468 454.5 m
472 454.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
468 439.5 m
472 439.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
472 454.5 m
515 454.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
472 439.5 m
515 439.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421 439.5 m
425 439.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
468 439.5 m
472 439.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
472 439.5 m
515 439.5 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 306.75 536.18 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 441.15 536.18 Td (International) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 244.55 521.18 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 266.77 521.18 Td (Allocation) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 342.55 521.18 Td (2017 ) Tj ET Q
q 0 0 0 rg BT 364.77 521.18 Td (Allocation) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 436.55 521.18 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 458.50 521.18 Td (Allocation) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 94.50 506.18 Td (June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 244.50 506.18 Td (T) Tj ET Q
q 0 0 0 rg BT 250.71 506.18 Td (arget) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 291.15 506.18 Td (Actual) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 342.50 506.18 Td (T) Tj ET Q
q 0 0 0 rg BT 348.71 506.18 Td (arget) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 389.15 506.18 Td (Actual) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 436.50 506.18 Td (T) Tj ET Q
q 0 0 0 rg BT 442.71 506.18 Td (arget) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 483.15 506.18 Td (Actual) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 94.50 491.37 Td (Equity securities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 169.00 491.37 Td (......................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.30 491.37 Td (70) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.30 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.30 491.37 Td (70) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.30 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 353.30 491.37 Td (70) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.30 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 400.30 491.37 Td (71) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.30 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.30 491.37 Td (32) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.30 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.30 491.37 Td (18) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.30 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 94.50 476.37 Td (Fixed-income securities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 202.00 476.37 Td (..........) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.30 476.37 Td (30) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.30 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.30 476.37 Td (30) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.30 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 353.30 476.37 Td (30) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.30 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 400.30 476.37 Td (29) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.30 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.30 476.37 Td (17) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.30 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.30 476.37 Td (29) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.30 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 94.50 459.42 Td (Other securities ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 166.59 464.41 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 171.75 459.37 Td (.....................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.30 459.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.30 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.30 459.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.30 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 353.30 459.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.30 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 400.30 459.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.30 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.30 459.42 Td (51) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.30 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.30 459.42 Td (53) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.30 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 94.50 444.37 Td (T) Tj ET Q
q 0 0 0 rg BT 100.45 444.37 Td (otal) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 119.50 444.37 Td (........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.80 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.30 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 296.80 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.30 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.80 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.30 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 394.80 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.30 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.80 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.30 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.80 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.30 444.37 Td (%) Tj ET Q
BT /F3 9.00 Tf ET
BT /F3 5.85 Tf ET
q 0 0 0 rg BT 94.50 426.03 Td (1) Tj ET Q
BT /F3 8.00 Tf ET
q 0 0 0 rg BT 97.42 421.95 Td ( ) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 99.42 421.95 Td ( Other primarily includes pooled investment funds.) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 391.60 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 391.60 Td (s investment policy for domestic plans seeks to maximize investment returns while balancing the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 378.40 Td (Company�) Tj ET Q
q 0 0 0 rg BT 95.83 378.40 Td (s tolerance for risk. ) Tj ET Q
q 0 0 0 rg BT 183.29 378.40 Td (The plan fiduciaries oversee the investment allocation process. ) Tj ET Q
q 0 0 0 rg BT 461.97 378.40 Td (This includes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 365.20 Td (selecting investment managers, setting long-term strategic tar) Tj ET Q
q 0 0 0 rg BT 320.13 365.20 Td (gets, and monitoring asset allocations. ) Tj ET Q
q 0 0 0 rg BT 490.71 365.20 Td (T) Tj ET Q
q 0 0 0 rg BT 496.66 365.20 Td (ar) Tj ET Q
q 0 0 0 rg BT 505.01 365.20 Td (get ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 352.00 Td (allocation ranges are guidelines, not limitations, and plan fiduciaries may occasionally approve allocations above or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 338.80 Td (below a tar) Tj ET Q
q 0 0 0 rg BT 98.67 338.80 Td (get range, or elect to rebalance the portfolio within the tar) Tj ET Q
q 0 0 0 rg BT 352.28 338.80 Td (geted range. ) Tj ET Q
q 0 0 0 rg BT 408.58 338.80 Td (The investment portfolio contains ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 325.60 Td (a diversified blend of equity and fixed-income investments. Furthermore, equity investments are diversified across ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 312.40 Td (domestic and international stocks and between growth and value stocks and small and lar) Tj ET Q
q 0 0 0 rg BT 442.33 312.40 Td (ge capitalizations. ) Tj ET Q
q 0 0 0 rg BT 524.29 312.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 299.20 Td (primary investment strategy currently employed is a dynamic tar) Tj ET Q
q 0 0 0 rg BT 334.49 299.20 Td (get allocation method that periodically rebalances ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 286.00 Td (among various investment categories depending on the current funded position. ) Tj ET Q
q 0 0 0 rg BT 402.63 286.00 Td (This program is designed to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 272.80 Td (actively move from return-seeking investments \(such as equities\) toward liability-hedging investments \(such as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 259.60 Td (long-duration fixed-income\) as funding levels improve. ) Tj ET Q
q 0 0 0 rg BT 296.93 259.60 Td (The reverse ef) Tj ET Q
q 0 0 0 rg BT 359.63 259.60 Td (fect occurs when funding levels decrease.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 233.20 Td (The trustees of the IPC Plan have delegated the day-to-day investment decisions of the IPC Plan to a lar) Tj ET Q
q 0 0 0 rg BT 506.80 233.20 Td (ge ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 220.00 Td (international fiduciary manager�and utilize an investment manager to monitor investment performance and the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 206.80 Td (reporting of the fiduciary manager) Tj ET Q
q 0 0 0 rg BT 200.88 206.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 206.19 206.80 Td (The investment objective of the IPC Plan is to invest the assets prudently with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 193.60 Td (the intention that the benefits promised to the members are provided. Funding level based de-risking triggers have ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 180.40 Td (been established such that the investment strategy evolves as the funding level moves along an agreed glide path. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 167.20 Td (As the funding level improves, the investment strategy will de-risk. Each trigger level specifies a minimum interest ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 154.00 Td (rate and hedge rate ratio and a maximum allocation to growth assets�which tar) Tj ET Q
q 0 0 0 rg BT 401.68 154.00 Td (get a diversified portfolio using ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 140.80 Td (specialist managers and asset classes.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 114.40 Td (Equity securities did not include any Meredith Corporation common or class�B stock at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.76 114.40 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 498.17 114.40 Td ( or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 512.83 114.40 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.83 114.40 Td (.) Tj ET Q
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BT /F2 11.00 Tf ET
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499.50 620.70 51.00 -15.00 re f
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550.50 620.70 11.00 -15.00 re f
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418.50 545.70 52.00 -15.00 re f
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.57 728.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.36 701.80 Td (�0.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 217.14 701.80 Td ( are required to be made to the IPC Plan. In the event that on November�25, ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 529.63 381.78 Td (egate) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 511.65 369.78 Td (Intrinsic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 517.95 357.78 Td (V) Tj ET Q
q 0 0 0 rg BT 524.25 357.78 Td (alue) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 55.50 342.55 Td (\(Options in thousands and ) Tj ET Q
q 0 0 0 rg BT 152.84 342.55 Td (Aggr) Tj ET Q
q 0 0 0 rg BT 170.51 342.55 Td (egate Intrinsic V) Tj ET Q
q 0 0 0 rg BT 229.50 342.55 Td (alue in millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 327.97 Td (Outstanding July�1, 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.50 327.97 Td (............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.75 327.97 Td (1,836.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.50 327.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.00 327.97 Td (44.34) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 312.97 Td (Granted ) Tj ET Q
BT /F3 11.00 Tf ET
BT /F3 7.15 Tf ET
q 0 0 0 rg BT 93.68 317.96 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 99.75 312.97 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.75 312.97 Td (1,237.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.00 312.97 Td (55.89) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 297.97 Td (Exercised) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 99.75 297.97 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.35 297.97 Td (\(485.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.80 297.97 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.75 297.97 Td (39.36) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 282.97 Td (Forfeited) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 97.00 282.97 Td (......................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.35 282.97 Td (\(167.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.80 282.97 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.75 282.97 Td (54.18) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 267.97 Td (Outstanding June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 174.00 267.97 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.75 267.97 Td (2,421.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.75 267.97 Td (50.56) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.75 267.97 Td (7.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.50 267.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.05 267.97 Td (7.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 252.97 Td (Exercisable June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 171.25 252.97 Td (...........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.00 252.97 Td (714.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.50 252.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.00 252.97 Td (43.63) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.75 252.97 Td (5.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.50 252.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.05 252.97 Td (5.7) Tj ET Q
BT /F3 9.00 Tf ET
BT /F3 5.85 Tf ET
q 0 0 0 rg BT 55.50 242.53 Td (1 ) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 59.89 238.45 Td (Includes options pr) Tj ET Q
q 0 0 0 rg BT 129.05 238.45 Td (eviously granted under the T) Tj ET Q
q 0 0 0 rg BT 232.03 238.45 Td (ime incentive plan and converted into 374 options upon acquisition.) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 207.20 Td (The fair value of each option is estimated as of the date of grant using the Black-Scholes option-pricing model. ) Tj ET Q
q 0 0 0 rg BT 540.99 207.20 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 194.00 Td (expected volatility was based on historical volatility of the Company�) Tj ET Q
q 0 0 0 rg BT 355.79 194.00 Td (s common stock, Meredith�) Tj ET Q
q 0 0 0 rg BT 476.16 194.00 Td (s new capital ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 180.80 Td (structure \(for options granted on or subsequent to January�31, 2018\), and other factors. ) Tj ET Q
q 0 0 0 rg BT 433.79 180.80 Td (The expected life of options ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 167.60 Td (granted incorporates historical employee exercise and termination behavior) Tj ET Q
q 0 0 0 rg BT 380.79 167.60 Td (. Dif) Tj ET Q
q 0 0 0 rg BT 400.75 167.60 Td (ferent expected lives are used for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 154.40 Td (separate groups of employees who have similar historical exercise patterns. ) Tj ET Q
q 0 0 0 rg BT 384.27 154.40 Td (The risk-free rate for periods that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 141.20 Td (coincide with the expected life of the options is based on the U.S. ) Tj ET Q
q 0 0 0 rg BT 340.93 141.20 Td (T) Tj ET Q
q 0 0 0 rg BT 347.26 141.20 Td (reasury yield curve in ef) Tj ET Q
q 0 0 0 rg BT 453.95 141.20 Td (fect at the time of grant.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 298.50 31.60 Td (104) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (The following summarizes the assumptions used in determining the fair value of options granted:) Tj ET Q
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106.50 703.70 200.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
306.50 703.70 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
366.50 703.70 9.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
375.50 703.70 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.50 703.70 9.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.50 703.70 60.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
106.50 688.70 200.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
106.50 673.70 200.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
306.50 673.70 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
366.50 673.70 9.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
375.50 673.70 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.50 673.70 9.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
444.50 673.70 60.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
106.50 658.70 200.00 -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
106.5 717.7 m
306.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
106.5 703.7 m
306.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
306.5 717.7 m
366.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
306.5 703.7 m
366.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
366.5 717.7 m
375.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
366.5 703.7 m
375.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
375.5 717.7 m
435.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
375.5 703.7 m
435.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
435.5 717.7 m
444.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
435.5 703.7 m
444.5 703.7 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
444.5 717.7 m
504.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
444.5 703.7 m
504.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
306.5 703.7 m
366.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
366.5 703.7 m
375.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
375.5 703.7 m
435.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
444.5 703.7 m
504.5 703.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
106.5 643.7 m
306.5 643.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
306.5 643.7 m
366.5 643.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
366.5 643.7 m
375.5 643.7 l
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0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
375.5 643.7 m
435.5 643.7 l
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0 0 0 RG
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
435.5 643.7 m
444.5 643.7 l
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 109.00 708.38 Td (Y) Tj ET Q
q 0 0 0 rg BT 115.11 708.38 Td (ears ended June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 326.00 708.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 395.00 708.38 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 464.00 708.38 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.00 693.57 Td (Risk-free interest rate) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.75 693.57 Td (...................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.65 693.57 Td (1.8-2.6%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.65 693.57 Td (1.3-2.1%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 460.65 693.57 Td (1.8-2.0%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.00 678.57 Td (Expected dividend yield) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 217.75 678.57 Td (...............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 351.30 678.57 Td (4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.80 678.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.30 678.57 Td (4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.80 678.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.30 678.57 Td (4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.80 678.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.00 663.57 Td (Expected option life) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.50 663.57 Td (......................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.85 663.57 Td (4.9-7 yrs) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.30 663.57 Td (7 yrs) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.30 663.57 Td (7 yrs) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.00 648.57 Td (Expected stock price volatility) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 245.25 648.57 Td (.....................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.15 648.57 Td (28-36%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.80 648.57 Td (29) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.80 648.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.80 648.57 Td (36) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.80 648.57 Td (%) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 617.80 Td (The weighted average grant date f) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
199.95 625.43 226.34 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 199.95 617.80 Td (air value of options granted during the years ended ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
426.29 625.43 61.41 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 426.29 617.80 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
487.71 625.43 5.50 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 487.71 617.80 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 493.21 617.80 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
515.21 625.43 24.13 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 515.21 617.80 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 604.60 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
72.00 612.23 18.33 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 72.00 604.60 Td (, wa) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 90.33 604.60 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 97.36 604.60 Td ($13.58) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.61 604.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 133.11 604.60 Td ($9.35) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 157.86 604.60 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 181.99 604.60 Td ($10.80) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
212.24 612.23 60.68 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 212.24 604.60 Td (, respectively) Tj ET Q
q 0 0 0 rg BT 270.17 604.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 272.92 604.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 275.47 604.60 Td (The total intrinsic value of options exercised during the years ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 591.40 Td (ended ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
79.01 599.03 61.41 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 79.01 591.40 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 140.43 591.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 145.93 591.40 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 167.93 591.40 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 192.06 591.40 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 214.06 591.40 Td ( wa) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
229.64 599.03 7.03 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 229.64 591.40 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
236.67 599.03 59.28 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 236.67 591.40 Td ($10.9 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
295.95 599.03 5.50 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 295.95 591.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
301.45 599.03 59.28 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 301.45 591.40 Td ($15.2 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
360.73 599.03 24.13 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 360.73 591.40 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
384.86 599.03 53.78 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 384.86 591.40 Td ($8.0 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
438.64 599.03 70.76 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 438.64 591.40 Td (, respectively) Tj ET Q
q 0 0 0 rg BT 496.57 591.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 501.46 591.40 Td (A) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.41 591.40 Td (s of ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 585.83 61.41 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 578.20 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 578.20 Td (, there ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
141.65 585.83 17.11 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 141.65 578.20 Td (was) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 158.75 578.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.50 578.20 Td ($7.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 215.28 578.20 Td ( in unrecognized compensation cost for stock options granted under the plan. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 565.00 Td (This cost is expected to be recognized over a weighted average period of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 372.84 565.00 Td (2.0 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.55 565.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 538.60 Td (Cash received from option exercises under all share-based payment plans for the years ended ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
462.34 546.23 61.41 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 462.34 538.60 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 523.76 538.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 529.26 538.60 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.26 538.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 525.40 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.63 525.40 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 90.63 525.40 Td ( was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 113.24 525.40 Td ($19.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 172.52 525.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.02 525.40 Td ($37.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 237.30 525.40 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 261.43 525.40 Td ($18.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.71 525.40 Td (, respectively) Tj ET Q
q 0 0 0 rg BT 378.64 525.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 383.94 525.40 Td (The actual tax benefit realized for the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 512.20 Td (tax deductions from option exercises totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 247.33 512.20 Td ($2.7 million) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.11 512.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 306.11 512.20 Td ($5.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 359.90 512.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.03 512.20 Td ($3.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.81 512.20 Td (, respectively) Tj ET Q
q 0 0 0 rg BT 495.74 512.20 Td (, for the years ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 499.00 Td (ended ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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/GS0 gs
q 0 0 0 rg BT 79.01 499.00 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 140.43 499.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 145.93 499.00 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 167.93 499.00 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 192.06 499.00 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 214.06 499.00 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 472.60 Td (Employee Stock Pur) Tj ET Q
q 0 0 0 rg BT 145.74 472.60 Td (chase Plan) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 446.20 Td (As of January�1, 2016, the ESPP) Tj ET Q
q 0 0 0 rg BT 193.20 446.20 Td ( was suspended indefinitely) Tj ET Q
q 0 0 0 rg BT 314.38 446.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 319.68 446.20 Td (The ESPP) Tj ET Q
q 0 0 0 rg BT 364.19 446.20 Td ( allowed employees to purchase shares of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 433.00 Td (Meredith common stock through payroll deductions at the lesser of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 348.15 433.00 Td (85 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 394.27 433.00 Td ( of the fair market value of the stock ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 419.80 Td (on either the first or last trading day of an of) Tj ET Q
q 0 0 0 rg BT 244.69 419.80 Td (fering period. ) Tj ET Q
q 0 0 0 rg BT 307.10 419.80 Td (The ESPP) Tj ET Q
q 0 0 0 rg BT 351.62 419.80 Td ( had ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.00 419.80 Td (quarterly) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.70 419.80 Td ( of) Tj ET Q
q 0 0 0 rg BT 424.42 419.80 Td (fering periods. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.32 419.80 Td (One million ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 406.60 Td (five hundred thousand) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 148.37 406.60 Td ( common shares were authorized and approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.81 406.60 Td (0.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 429.09 406.60 Td ( shares remained available for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 393.40 Td (issuance under the ESPP) Tj ET Q
q 0 0 0 rg BT 157.85 393.40 Td (. Compensation cost for the ESPP) Tj ET Q
q 0 0 0 rg BT 306.55 393.40 Td ( was based on the present value of the cash discount and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 380.20 Td (the fair value of the call option component as of the grant date using the Black-Scholes o) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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/GS0 gs
q 0 0 0 rg BT 440.99 380.20 Td (ption-pricing model. ) Tj ET Q
q 0 0 0 rg BT 533.97 380.20 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 374.63 32.07 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 367.00 Td (term of) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.07 367.00 Td ( the option was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 151.73 367.00 Td (3 months) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 192.37 367.00 Td (, the term of the of) Tj ET Q
q 0 0 0 rg BT 274.03 367.00 Td (fering period, and the expected stock price volatility was ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
526.34 374.63 13.75 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 526.34 367.00 Td (36 ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 361.43 32.37 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 353.80 Td (percent) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
82.37 361.43 40.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 82.37 353.80 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.99 353.80 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
144.99 361.43 43.98 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 144.99 353.80 Td (. In fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.98 353.80 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 210.98 353.80 Td ( the Company issued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.69 353.80 Td (45,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 335.94 353.80 Td ( ESPP) Tj ET Q
q 0 0 0 rg BT 363.35 353.80 Td ( shares that had an average market price of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 340.60 Td ($42.91) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 80.25 340.60 Td (, an average purchase price of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 214.31 340.60 Td ($35.94) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 244.56 340.60 Td (, and an average fair value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 375.27 340.60 Td ($6.77) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 400.02 340.60 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 301.00 Td (13. Redeemable Series ) Tj ET Q
q 0 0 0 rg BT 159.67 301.00 Td (A) Tj ET Q
q 0 0 0 rg BT 167.01 301.00 Td ( Pr) Tj ET Q
q 0 0 0 rg BT 181.16 301.00 Td (eferr) Tj ET Q
q 0 0 0 rg BT 204.16 301.00 Td (ed Stock) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 275.80 Td (Ef) Tj ET Q
q 0 0 0 rg BT 60.18 275.80 Td (fective January�30, 2018, out of the total authorized ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 290.20 275.80 Td (5,000,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 334.20 275.80 Td ( shares of preferred stock, par value ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.23 275.80 Td ($1.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 518.98 275.80 Td ( per ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 262.60 Td (share, the Company designated a series of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 237.55 262.60 Td (2,500,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 281.55 262.60 Td ( shares which was issued in and constitute a single series ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 249.40 Td (known as �Series�) Tj ET Q
q 0 0 0 rg BT 128.51 249.40 Td (A) Tj ET Q
q 0 0 0 rg BT 135.85 249.40 Td ( Preferred Stock� with each share having an initial stated value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.24 249.40 Td ($1,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.49 249.40 Td ( per share \(the Series�) Tj ET Q
q 0 0 0 rg BT 551.88 249.40 Td (A) Tj ET Q
q 0 0 0 rg BT 559.21 249.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 236.20 Td (preferred stock\).) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 209.80 Td (On January�31, 2018, in exchange for a preferred equity investment of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 362.17 209.80 Td ($650.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.95 209.80 Td (, Meredith issued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.77 209.80 Td (650,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 541.52 209.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 196.60 Td (shares of perpetual convertible redeemable non-voting Series�) Tj ET Q
q 0 0 0 rg BT 321.54 196.60 Td (A) Tj ET Q
q 0 0 0 rg BT 328.88 196.60 Td ( preferred stock as well as detachable warrants to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 183.40 Td (purchase up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.90 183.40 Td (1,625,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.90 183.40 Td ( shares of Meredith�) Tj ET Q
q 0 0 0 rg BT 249.18 183.40 Td (s common stock with an exercise price of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.29 183.40 Td ($1.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.04 183.40 Td ( per share and options ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 170.20 Td (to purchase up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.20 170.20 Td (875,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.95 170.20 Td ( shares of Meredith�) Tj ET Q
q 0 0 0 rg BT 252.23 170.20 Td (s common stock with an exercise price of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.34 170.20 Td ($70.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.59 170.20 Td ( per share.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 143.80 Td (The Company has classified the Series�) Tj ET Q
q 0 0 0 rg BT 222.29 143.80 Td (A) Tj ET Q
q 0 0 0 rg BT 229.63 143.80 Td ( preferred stock as temporary equity in the Consolidated Balance Sheets. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 130.60 Td (The Company allocated the net proceeds of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.96 130.60 Td ($631.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.74 130.60 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.15 130.60 Td ($650.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.93 130.60 Td ( aggregate gross proceeds received less ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 117.40 Td ($19.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.28 117.40 Td ( in transaction costs\) based on the relative aggregate fair values on the date of issuance as follows: ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 104.20 Td ($103.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 114.78 104.20 Td ( to the warrants, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.40 104.20 Td ($12.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 247.68 104.20 Td ( to the options, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 334.45 104.20 Td ($515.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 399.23 104.20 Td ( to the Series�) Tj ET Q
q 0 0 0 rg BT 458.50 104.20 Td (A) Tj ET Q
q 0 0 0 rg BT 465.84 104.20 Td ( preferred stock. ) Tj ET Q
q 0 0 0 rg BT 540.16 104.20 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 91.00 Td (discount on the Series�) Tj ET Q
q 0 0 0 rg BT 148.99 91.00 Td (A) Tj ET Q
q 0 0 0 rg BT 156.33 91.00 Td ( preferred stock is being accreted using the ef) Tj ET Q
q 0 0 0 rg BT 355.87 91.00 Td (fective interest method to retained earnings as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 77.80 Td (a deemed dividend from the date of issuance through the seventh anniversary of the issuance date \(i.e., the date the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 64.60 Td (Series�) Tj ET Q
q 0 0 0 rg BT 79.03 64.60 Td (A) Tj ET Q
q 0 0 0 rg BT 86.36 64.60 Td ( preferred stock becomes convertible\).) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 298.50 31.60 Td (105) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (The Series�) Tj ET Q
q 0 0 0 rg BT 98.88 741.40 Td (A) Tj ET Q
q 0 0 0 rg BT 106.21 741.40 Td ( preferred stock is non-callable during the first ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.31 741.40 Td (three) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 335.29 741.40 Td ( years after issuance provided that Meredith may) Tj ET Q
q 0 0 0 rg BT 549.30 741.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (at its option, subject to the terms of the preferred stock, redeem all or any portion of the Series�) Tj ET Q
q 0 0 0 rg BT 466.96 728.20 Td (A) Tj ET Q
q 0 0 0 rg BT 474.30 728.20 Td ( preferred stock in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (cash during such ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 126.68 715.00 Td (three) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 148.66 715.00 Td (-year period, if Meredith declares as a dividend and pays a redemption premium in cash an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (amount equal to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 123.62 701.80 Td (6 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 164.24 701.80 Td ( of the ) Tj ET Q
q 0 0 0 rg BT 194.48 701.80 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 264.53 701.80 Td (V) Tj ET Q
q 0 0 0 rg BT 271.26 701.80 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 349.45 701.80 Td (A) Tj ET Q
q 0 0 0 rg BT 356.79 701.80 Td ( preferred stock as of the redemption date plus ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (an amount, if any) Tj ET Q
q 0 0 0 rg BT 126.26 688.60 Td (, equal to dividends to the third year present valued at a discount rate based on U.S. ) Tj ET Q
q 0 0 0 rg BT 495.69 688.60 Td (T) Tj ET Q
q 0 0 0 rg BT 502.02 688.60 Td (reasury notes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (with a maturity closest to the date that is three years after the issuance date, plus 50 basis points. ) Tj ET Q
q 0 0 0 rg BT 475.94 675.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 495.18 675.40 Td (Accrued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (Stated ) Tj ET Q
q 0 0 0 rg BT 80.05 662.20 Td (V) Tj ET Q
q 0 0 0 rg BT 86.77 662.20 Td (alue is an amount equal to: \(i\) the Stated ) Tj ET Q
q 0 0 0 rg BT 267.10 662.20 Td (V) Tj ET Q
q 0 0 0 rg BT 273.83 662.20 Td (alue \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 298.56 662.20 Td ($1,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.81 662.20 Td ( multiplied by the number of shares of Series�) Tj ET Q
q 0 0 0 rg BT 528.91 662.20 Td (A) Tj ET Q
q 0 0 0 rg BT 536.25 662.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (preferred stock outstanding\); plus \(ii\) any accrued and unpaid dividends thereof \(including any accumulated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (dividends\).) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (From and after the third anniversary of the issuance date of the Series�) Tj ET Q
q 0 0 0 rg BT 358.20 609.40 Td (A) Tj ET Q
q 0 0 0 rg BT 365.54 609.40 Td ( preferred stock, Meredith may redeem all ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (or any portion of the Series�) Tj ET Q
q 0 0 0 rg BT 172.20 596.20 Td (A) Tj ET Q
q 0 0 0 rg BT 179.53 596.20 Td ( preferred stock in cash for an amount equal to \(i\) the Call Premium \(defined below\), ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (plus \(ii\) the ) Tj ET Q
q 0 0 0 rg BT 102.86 583.00 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 172.91 583.00 Td (V) Tj ET Q
q 0 0 0 rg BT 179.63 583.00 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 257.83 583.00 Td (A) Tj ET Q
q 0 0 0 rg BT 265.17 583.00 Td ( preferred stock as of the redemption date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (The Call Premium is an amount equal to the dif) Tj ET Q
q 0 0 0 rg BT 259.06 556.60 Td (ference of \(A\) \(i\) the ) Tj ET Q
q 0 0 0 rg BT 352.82 556.60 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 422.87 556.60 Td (V) Tj ET Q
q 0 0 0 rg BT 429.59 556.60 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 507.79 556.60 Td (A) Tj ET Q
q 0 0 0 rg BT 515.13 556.60 Td ( preferred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (stock as of the redemption date, multiplied by \(ii\) \(a\) if such redemption occurs during the fourth or fifth year after ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (issuance, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 92.76 530.20 Td (106 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.38 530.20 Td (, \(b\) if such redemption occurs during the sixth year after issuance, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.28 530.20 Td (103 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.90 530.20 Td (, and \(c\) if such ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (redemption occurs after the sixth year after issuance, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.87 517.00 Td (100 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.49 517.00 Td (, minus \(B\) the ) Tj ET Q
q 0 0 0 rg BT 404.63 517.00 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 474.68 517.00 Td (V) Tj ET Q
q 0 0 0 rg BT 481.40 517.00 Td (alue as of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (redemption date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (In connection with any partial redemption by Meredith, Meredith may not redeem Series�) Tj ET Q
q 0 0 0 rg BT 442.83 477.40 Td (A) Tj ET Q
q 0 0 0 rg BT 450.17 477.40 Td ( preferred stock in an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (amount less than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 126.68 464.20 Td ($50.0 million) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 185.96 464.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.71 464.20 Td (of the ) Tj ET Q
q 0 0 0 rg BT 216.21 464.20 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 286.26 464.20 Td (V) Tj ET Q
q 0 0 0 rg BT 292.98 464.20 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 371.18 464.20 Td (A) Tj ET Q
q 0 0 0 rg BT 378.52 464.20 Td ( preferred stock nor ef) Tj ET Q
q 0 0 0 rg BT 476.05 464.20 Td (fect any ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (redemption resulting in less than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.34 451.00 Td ($100.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 261.12 451.00 Td ( of the ) Tj ET Q
q 0 0 0 rg BT 291.36 451.00 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 361.41 451.00 Td (V) Tj ET Q
q 0 0 0 rg BT 368.14 451.00 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 446.33 451.00 Td (A) Tj ET Q
q 0 0 0 rg BT 453.67 451.00 Td ( preferred stock ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.98 385.00 Td ( trading days ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 442.36 332.20 Td (V) Tj ET Q
q 0 0 0 rg BT 449.08 332.20 Td (alue \(equal to the number ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 326.47 305.80 Td ( preferred stock, in kind, by issuing a number of ) Tj ET Q
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q 0 0 0 rg BT 191.43 234.60 Td (ear) Tj ET Q
BT /F1 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 163.34 219.57 Td (ears 1 through 3) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.65 219.57 Td (9%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 180.70 204.57 Td (Y) Tj ET Q
q 0 0 0 rg BT 188.09 204.57 Td (ear 4) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.30 204.57 Td (LIBOR plus 900 bps) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 143.19 173.62 Td (ear 6 through redemption) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 451.68 173.62 Td (100 bps) Tj ET Q
BT /F2 10.00 Tf ET
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q 0 0 0 rg BT 98.88 144.00 Td (A) Tj ET Q
q 0 0 0 rg BT 106.21 144.00 Td ( preferred stock ranks senior to any other class or series of equity) Tj ET Q
q 0 0 0 rg BT 392.02 144.00 Td (, including Meredith�) Tj ET Q
q 0 0 0 rg BT 485.19 144.00 Td (s common stock ) Tj ET Q
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q 0 0 0 rg BT 331.04 117.60 Td (A) Tj ET Q
q 0 0 0 rg BT 338.38 117.60 Td ( preferred stock, and may not be paid in a ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 231.76 104.40 Td (A) Tj ET Q
q 0 0 0 rg BT 239.09 104.40 Td ( preferred stock. ) Tj ET Q
q 0 0 0 rg BT 313.01 104.40 Td (All Series�) Tj ET Q
q 0 0 0 rg BT 358.84 104.40 Td (A) Tj ET Q
q 0 0 0 rg BT 366.17 104.40 Td ( preferred stock dividends \(regardless of ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 246.43 91.20 Td ( preferred stock or cash\) are prior to and in preference over any ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 132.79 715.20 Td (two) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 253.47 702.00 Td (10 votes per share) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 322.76 688.80 Td (At any time, class�B stock is convertible, share for ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 511.35 662.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 360.27 649.20 Td (Y) Tj ET Q
q 0 0 0 rg BT 367.11 649.20 Td (ork Stock Exchange \(trading symbol MDP\). ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 307.82 636.00 Td (s class�B stock.) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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293 519.1 m
348 519.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 533.1 m
353 533.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 519.1 m
353 519.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
353 533.1 m
408 533.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
353 519.1 m
408 519.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
408 533.1 m
413 533.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
408 519.1 m
413 519.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
413 533.1 m
468 533.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
413 519.1 m
468 519.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
143 474.1 m
293 474.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
293 474.1 m
348 474.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 474.1 m
353 474.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
353 474.1 m
408 474.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
408 474.1 m
413 474.1 l
s
0 0 0 RG
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2.00 w
0 i
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0 J
0 j
3 M
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q 0 0 0 rg BT 152.22 523.15 Td (ears ended June�30,) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 322.50 523.15 Td (2018) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 382.50 523.15 Td (2017) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 442.50 523.15 Td (2016) Tj ET Q
BT /F3 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 145.50 493.97 Td (Number of shares) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.25 493.97 Td (.......................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.05 493.97 Td (0.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.05 493.97 Td (0.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.05 493.97 Td (0.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 145.50 478.97 Td (Cost at market value) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.50 478.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 324.55 478.97 Td (31.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 355.50 478.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.55 478.97 Td (53.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.50 478.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 444.55 478.97 Td (31.1) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 448.20 Td (Shares deemed to be delivered to the Company on tender of stock in payment for the exercise price of options do ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 435.00 Td (not reduce the repurchase authority granted by the Board. Shares tendered for the exercise price of stock options ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 421.80 Td (were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 74.12 421.80 Td (0.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.40 421.80 Td ( shares at a cost of ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 306.00 421.80 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.00 421.80 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 333.50 421.80 Td (0.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.78 421.80 Td ( shares at a cost of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 465.48 421.80 Td ($37.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.76 421.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 408.60 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 76.57 408.60 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.57 408.60 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.70 408.60 Td (0.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.98 408.60 Td ( shares at a cost of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 254.68 408.60 Td ($18.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.96 408.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 354.58 408.60 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.58 408.60 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 131.08 369.00 Td ( Common Shar) Tj ET Q
q 0 0 0 rg BT 202.38 369.00 Td (e) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 268.23 329.40 Td (The calculation of diluted earnings per share for each period is ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 538.56 316.20 Td (fect, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 303.00 Td (if any) Tj ET Q
q 0 0 0 rg BT 74.64 303.00 Td (, of dilutive common stock equivalent shares.) Tj ET Q
BT /F2 11.00 Tf ET
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0.8 0.9333333333333333 1 rg
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411.50 223.90 50.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
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461.50 223.90 50.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
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511.50 223.90 50.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
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49.50 191.90 362.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 191.90 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 191.90 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 191.90 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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49.50 159.90 362.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 159.90 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 159.90 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 159.90 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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49.50 127.90 362.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 127.90 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 127.90 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 127.90 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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49.50 96.90 362.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 96.90 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 96.90 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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511.50 96.90 50.00 -16.00 re f
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 252.89999999999998 m
411.5 252.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 237.89999999999998 m
411.5 237.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 252.89999999999998 m
461.5 252.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 237.89999999999998 m
461.5 237.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 252.89999999999998 m
511.5 252.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 237.89999999999998 m
511.5 237.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 252.89999999999998 m
561.5 252.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 237.89999999999998 m
561.5 237.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 143.89999999999998 m
411.5 143.89999999999998 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 127.89999999999998 m
411.5 127.89999999999998 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 143.89999999999998 m
461.5 143.89999999999998 l
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0 0 0 RG
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2.00 w
0 i
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0 J
0 j
3 M
411.5 127.89999999999998 m
461.5 127.89999999999998 l
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0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 143.89999999999998 m
511.5 143.89999999999998 l
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0 0 0 RG
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 127.89999999999998 m
511.5 127.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 143.89999999999998 m
561.5 143.89999999999998 l
s
0 0 0 RG
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 127.89999999999998 m
561.5 127.89999999999998 l
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0 0 0 RG
/GS0 gs
2.00 w
0 i
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0 J
0 j
3 M
49.5 80.89999999999998 m
411.5 80.89999999999998 l
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0 0 0 RG
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 80.89999999999998 m
461.5 80.89999999999998 l
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0 0 0 RG
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 80.89999999999998 m
511.5 80.89999999999998 l
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0 0 0 RG
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0 i
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0 J
0 j
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511.5 80.89999999999998 m
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BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 58.11 242.58 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 485.00 242.58 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F3 9.00 Tf ET
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q 0 0 0 rg BT 151.15 228.35 Td (e data\)) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 108.25 212.77 Td (.............................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.00 212.82 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 212.82 Td (99.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.00 212.82 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.50 212.82 Td (188.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 212.82 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 212.82 Td (33.9) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.00 196.77 Td (................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.85 196.82 Td (\(1.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 196.82 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.30 196.82 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 196.82 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.50 180.77 Td (..........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.35 180.82 Td (\(22.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 180.82 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.30 180.82 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 180.82 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 139.36 164.82 Td (A) Tj ET Q
q 0 0 0 rg BT 146.69 164.82 Td ( preferred stock) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 215.50 164.77 Td (......................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.85 164.82 Td (\(7.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 164.82 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.30 164.82 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 164.82 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.75 148.77 Td (.......................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.85 148.82 Td (\(1.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 148.82 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.30 148.82 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 148.82 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 132.82 Td (Basic earnings attributable to common shareholders) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 281.50 132.77 Td (..............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.00 132.82 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 132.82 Td (66.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.00 132.82 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.50 132.82 Td (188.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 132.82 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 132.82 Td (33.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 101.82 Td (Basic weighted-average common shares outstanding) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.25 101.77 Td (.............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 101.82 Td (44.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 101.82 Td (44.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 101.82 Td (44.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 85.82 Td (Basic earnings per share) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.50 85.77 Td (..........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.00 85.82 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 85.82 Td (1.48) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.00 85.82 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 85.82 Td (4.23) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 85.82 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
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q 0 0 0 rg BT 298.50 31.60 Td (107) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (common stock were exercised or converted into common stock. ) Tj ET Q
q 0 0 0 rg BT 333.27 728.20 Td (The dilutive ef) Tj ET Q
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BT /F2 11.00 Tf ET
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/GS0 gs
49.50 662.30 362.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 662.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 662.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 662.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 632.30 362.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 632.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 632.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 632.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 602.30 362.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 602.30 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 602.30 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 602.30 50.00 -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
49.5 691.3 m
411.5 691.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 676.3 m
411.5 676.3 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 691.3 m
461.5 691.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 676.3 m
461.5 676.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 691.3 m
511.5 691.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 676.3 m
511.5 676.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 691.3 m
561.5 691.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 676.3 m
561.5 676.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 676.3 m
411.5 676.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 676.3 m
461.5 676.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 676.3 m
511.5 676.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 676.3 m
561.5 676.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 632.3 m
411.5 632.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 617.3 m
411.5 617.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 632.3 m
461.5 632.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 617.3 m
461.5 617.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 632.3 m
511.5 632.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 617.3 m
511.5 617.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 632.3 m
561.5 632.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 617.3 m
561.5 617.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 571.3 m
411.5 571.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 571.3 m
461.5 571.3 l
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0 0 0 RG
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 571.3 m
511.5 571.3 l
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 680.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 680.98 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 435.00 680.98 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 485.00 680.98 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 535.00 680.98 Td (2016) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 52.00 666.75 Td (\(In millions except per shar) Tj ET Q
q 0 0 0 rg BT 151.15 666.75 Td (e data\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 652.17 Td (Basic weighted-average common shares outstanding) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.25 652.17 Td (.............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 652.17 Td (44.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 652.17 Td (44.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 652.17 Td (44.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 637.17 Td (Dilutive ef) Tj ET Q
q 0 0 0 rg BT 99.25 637.17 Td (fect of stock options and equivalents) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 262.25 637.17 Td (.....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 443.55 637.17 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 493.55 637.17 Td (0.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.55 637.17 Td (0.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 622.17 Td (Diluted weighted-average shares outstanding) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 251.25 622.17 Td (.........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 622.17 Td (45.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 622.17 Td (45.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 622.17 Td (45.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 591.22 Td (Diluted earnings attributable to common shareholders) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 289.75 591.17 Td (...........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.00 591.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 591.22 Td (66.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.00 591.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.50 591.22 Td (188.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 591.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 591.22 Td (33.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 576.17 Td (Diluted earnings per share) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.75 576.17 Td (.......................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 576.17 Td (1.47) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 576.17 Td (4.16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 576.17 Td (0.75) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 545.40 Td (For the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 134.91 545.40 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.32 545.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 201.82 545.40 Td (0.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.11 545.40 Td ( convertible preferred shares, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.12 545.40 Td (0.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 429.40 545.40 Td ( warrants, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 475.52 545.40 Td (0.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 523.81 545.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 532.20 Td (common stock equivalents, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 191.44 532.20 Td (0.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 239.72 532.20 Td ( shares of restricted stock were not included in the computation of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 519.00 Td (dilutive loss per share. ) Tj ET Q
q 0 0 0 rg BT 151.53 519.00 Td (These securities have an antidilutive ef) Tj ET Q
q 0 0 0 rg BT 322.68 519.00 Td (fect on the earnings per share calculation \(the diluted ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 505.80 Td (earnings per share becoming higher than basic earnings per share\). ) Tj ET Q
q 0 0 0 rg BT 345.77 505.80 Td (Therefore, these securities are not taken into ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 492.60 Td (account in determining the weighted average number of shares for the calculation of diluted earnings per share for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 479.40 Td (the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.88 479.40 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.29 479.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 453.00 Td (In addition, antidilutive options excluded from the above calculations totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.21 453.00 Td (0.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.50 453.00 Td ( options for the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 439.80 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 439.80 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 117.83 439.80 Td ($62.71) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 148.08 439.80 Td ( weighted average exercise price\), ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 300.77 439.80 Td (0.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.05 439.80 Td ( options for the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.40 439.80 Td (June�30, 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 530.81 439.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 426.60 Td (\() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.66 426.60 Td ($54.28) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 83.91 426.60 Td ( weighted average exercise price\), and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.23 426.60 Td (1.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.52 426.60 Td ( options for the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 423.87 426.60 Td (June�30, 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 485.28 426.60 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.69 426.60 Td ($49.02) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.94 426.60 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 413.40 Td (weighted average exercise price\).) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 387.00 Td (In the years ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 133.07 387.00 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 194.49 387.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 199.99 387.00 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 221.99 387.00 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.37 387.00 Td (2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.37 387.00 Td (, options were exercised to purchase ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.56 387.00 Td (0.5 million) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 475.84 387.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.84 387.00 Td (0.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 529.12 387.00 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 373.80 Td (0.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.28 373.80 Td ( common shares, respectively) Tj ET Q
q 0 0 0 rg BT 227.69 373.80 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 334.20 Td (16. Other) Tj ET Q
q 0 0 0 rg BT 97.15 334.20 Td ( Compr) Tj ET Q
q 0 0 0 rg BT 133.31 334.20 Td (ehensive Income \(Loss\)) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 307.80 Td (Comprehensive income \(loss\) is defined as the change in equity during a period from transactions and other events ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 294.60 Td (and circumstances from nonowner sources. Comprehensive income \(loss\) includes net earnings as well as items of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 281.40 Td (other comprehensive income \(loss\).) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 298.50 31.60 Td (108) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (The following table summarizes the items of other comprehensive income \(loss\) and the accumulated other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (comprehensive loss balances:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
52.00 627.50 221.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
273.00 627.50 18.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 627.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 627.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 627.50 13.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
361.00 627.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
413.00 627.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.00 627.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
428.00 627.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 627.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.00 627.50 22.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 627.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
52.00 597.50 221.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
273.00 597.50 18.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 597.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 597.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 597.50 13.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
361.00 597.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
413.00 597.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.00 597.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
428.00 597.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 597.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.00 597.50 22.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 597.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
52.00 567.50 221.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
273.00 567.50 18.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 567.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 567.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 567.50 13.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
361.00 567.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
413.00 567.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.00 567.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
428.00 567.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 567.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.00 567.50 22.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 567.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
52.00 537.50 221.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
273.00 537.50 18.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 537.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 537.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 537.50 13.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
361.00 537.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
413.00 537.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.00 537.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
428.00 537.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 537.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.00 537.50 22.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 537.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
52.00 507.50 221.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
273.00 507.50 18.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 507.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 507.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 507.50 13.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
361.00 507.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
413.00 507.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.00 507.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
428.00 507.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
480.00 507.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
485.00 507.50 22.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
507.00 507.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
52.00 477.50 221.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
273.00 477.50 18.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
291.00 477.50 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 477.50 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 477.50 13.00 -15.00 re f
/GS0 gs
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 208.40 Td (EBITDA. Operating profit for segment reporting, disclosed below) Tj ET Q
q 0 0 0 rg BT 340.41 208.40 Td (, is revenues less operating costs and unallocated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 195.20 Td (corporate expenses. Segment operating expenses include allocations of certain centrally incurred costs such as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 182.00 Td (employee benefits, occupancy) Tj ET Q
q 0 0 0 rg BT 182.15 182.00 Td (, information systems, accounting services, internal legal staf) Tj ET Q
q 0 0 0 rg BT 450.76 182.00 Td (f, and human resources ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 168.80 Td (administration. ) Tj ET Q
q 0 0 0 rg BT 118.85 168.80 Td (These costs are allocated based on actual usage or other appropriate methods, primarily number of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 155.60 Td (employees. Unallocated corporate expenses are corporate overhead expenses not attributable to the operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 142.40 Td (groups. Interest income and expense are not allocated to the segments. In accordance with authoritative guidance on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 129.20 Td (disclosures about segments of an enterprise and related information, EBITDA) Tj ET Q
q 0 0 0 rg BT 392.13 129.20 Td ( is not presented below) Tj ET Q
q 0 0 0 rg BT 492.84 129.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 102.80 Td (Significant non-cash items included in segment operating expenses other than depreciation and amortization of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 89.60 Td (fixed and intangible assets include impairments of national media trademarks and goodwill and the amortization of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 76.40 Td (broadcast rights in the local media segment. Impairments of national media trademarks and goodwill were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 520.41 76.40 Td ($22.7 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 63.20 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 63.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.84 63.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.41 63.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 149.91 63.20 Td ($5.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 203.69 63.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 217.74 63.20 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.32 63.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 290.45 63.20 Td ($155.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 355.23 63.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 369.28 63.20 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 417.86 63.20 Td (. Broadcast rights amortization ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 50.00 Td (totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.68 50.00 Td ($19.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 141.96 50.00 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 156.02 50.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 204.59 50.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 210.09 50.00 Td ($17.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.37 50.00 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 283.43 50.00 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.00 50.00 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.13 50.00 Td ($16.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.41 50.00 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 429.47 50.00 Td (fiscal 2016) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.04 50.00 Td (.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 298.50 31.60 Td (109) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (Segment assets include intangible, fixed, and all other non-cash assets identified with each segment. Jointly used ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (assets such as of) Tj ET Q
q 0 0 0 rg BT 122.20 728.20 Td (fice buildings and information technology equipment are allocated to the segments by appropriate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (methods, primarily number of employees. Unallocated corporate assets consist primarily of cash and cash items, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (assets allocated to or identified with corporate staf) Tj ET Q
q 0 0 0 rg BT 271.25 701.80 Td (f departments, and other miscellaneous assets not assigned to a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (segment.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (The following table presents financial information by segment:) Tj ET Q
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501.50 489.50 60.00 -15.00 re f
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363.50 459.50 60.00 -15.00 re f
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423.50 459.50 9.00 -15.00 re f
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432.50 459.50 60.00 -15.00 re f
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492.50 459.50 9.00 -15.00 re f
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501.50 459.50 60.00 -15.00 re f
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363.50 429.50 60.00 -15.00 re f
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423.50 429.50 9.00 -15.00 re f
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432.50 429.50 60.00 -15.00 re f
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501.50 429.50 60.00 -15.00 re f
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432.50 399.50 60.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
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501.50 399.50 60.00 -16.00 re f
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363.50 353.50 60.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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423.50 353.50 9.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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432.50 353.50 60.00 -15.00 re f
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501.50 353.50 60.00 -15.00 re f
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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1 1 1 rg
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BT /F2 11.00 Tf ET
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1 1 1 rg
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50.00 212.03 254.44 -10.00 re f
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 329.65 695.38 Td (Additions) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 53.00 673.70 Td (Reserves Deducted fr) Tj ET Q
q 0 0 0 rg BT 134.81 673.70 Td (om Receivables) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 53.00 662.90 Td (in the Consolidated Financial) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 53.00 652.15 Td (Statements:) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 209.85 673.70 Td (Balance at) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 206.10 662.90 Td (beginning of) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 217.45 652.15 Td (period) Tj ET Q
BT /F1 9.00 Tf ET
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 54.00 693.48 Td (Y) Tj ET Q
q 0 0 0 rg BT 60.67 693.48 Td (ears ended June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 324.00 693.48 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 377.00 693.48 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 430.00 693.48 Td (2016) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 483.00 693.48 Td (2015) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 536.00 693.48 Td (2014) Tj ET Q
BT /F3 9.00 Tf ET
q 0 0 0 rg BT 54.00 683.00 Td (\(In millions except per shar) Tj ET Q
q 0 0 0 rg BT 153.15 683.00 Td (e data\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 54.00 671.43 Td (Results of operations) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 658.27 Td (Revenues) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 93.50 658.27 Td (.................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 302.00 658.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 313.60 658.27 Td (2,247.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 355.00 658.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 366.60 658.27 Td (1,713.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 408.00 658.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 419.60 658.27 Td (1,649.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 461.00 658.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 472.60 658.27 Td (1,594.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 514.00 658.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 525.60 658.27 Td (1,468.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 645.27 Td (Costs and expenses) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 133.50 645.27 Td (.................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 313.60 645.27 Td (1,823.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 366.60 645.27 Td (1,333.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 419.60 645.27 Td (1,334.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 472.60 645.27 Td (1,276.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 525.60 645.27 Td (1,204.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 632.27 Td (Acquisition, disposition, and restructuring related activities) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 291.00 632.27 Td (..) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 321.15 632.27 Td (173.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 379.15 632.27 Td (10.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 428.80 632.32 Td (\(36.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 449.65 632.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 485.15 632.27 Td (17.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 538.15 632.27 Td (17.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 619.27 Td (Depreciation and amortization) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 176.00 619.27 Td (................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 321.15 619.27 Td (129.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 379.15 619.27 Td (53.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 432.15 619.27 Td (59.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 485.15 619.27 Td (56.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 538.15 619.27 Td (48.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 606.27 Td (Impairment of goodwill and other long-lived assets) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 261.00 606.27 Td (..............) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 326.15 606.27 Td (22.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 384.15 606.27 Td (6.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 427.15 606.27 Td (161.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 490.15 606.27 Td (1.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 538.15 606.27 Td (1) Tj ET Q
q 0 0 0 rg BT 543.15 606.27 Td (1.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 593.27 Td (Income from operations) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 151.00 593.27 Td (..........................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 326.15 593.27 Td (99.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 374.15 593.27 Td (309.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 427.15 593.27 Td (130.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.15 593.27 Td (242.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 533.15 593.27 Td (186.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 580.27 Td (Non-operating expenses, net) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 168.50 580.27 Td (...................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 322.80 580.32 Td (\(1) Tj ET Q
q 0 0 0 rg BT 331.13 580.32 Td (1.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 343.65 580.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 386.65 580.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 439.65 580.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 492.65 580.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 545.65 580.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 567.27 Td (Net interest expense) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 136.00 567.27 Td (................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 322.80 567.32 Td (\(96.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 343.65 567.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 375.80 567.32 Td (\(18.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 396.65 567.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 428.80 567.32 Td (\(20.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 449.65 567.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 481.80 567.32 Td (\(19.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 502.65 567.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 534.80 567.32 Td (\(12.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 555.65 567.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 554.27 Td (Income taxes) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 108.50 554.27 Td (...........................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 321.15 554.27 Td (123.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 370.80 554.32 Td (\(101.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 396.65 554.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 428.80 554.32 Td (\(76.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 449.65 554.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 481.80 554.32 Td (\(86.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 502.65 554.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 534.80 554.32 Td (\(60.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 555.65 554.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 541.27 Td (Earnings from continuing operations) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 201.00 541.27 Td (......................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 321.15 541.27 Td (1) Tj ET Q
q 0 0 0 rg BT 326.15 541.27 Td (14.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 374.15 541.27 Td (188.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 432.15 541.27 Td (33.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.15 541.27 Td (136.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 533.15 541.27 Td (1) Tj ET Q
q 0 0 0 rg BT 538.15 541.27 Td (13.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 528.27 Td (Discontinued operations) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 153.50 528.27 Td (.........................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 322.80 528.32 Td (\(14.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 343.65 528.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 386.65 528.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 439.65 528.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 492.65 528.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 545.65 528.27 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 54.00 515.43 Td (Net earnings) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 302.00 515.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 326.15 515.27 Td (99.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 355.00 515.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 374.15 515.27 Td (188.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 408.00 515.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 432.15 515.27 Td (33.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 461.00 515.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.15 515.27 Td (136.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 514.00 515.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 533.15 515.27 Td (1) Tj ET Q
q 0 0 0 rg BT 538.15 515.27 Td (13.5) Tj ET Q
BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 132.80 489.43 Td ( shar) Tj ET Q
q 0 0 0 rg BT 154.01 489.43 Td (e information) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 476.27 Td (Earnings from continuing operations) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 302.00 476.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 326.15 476.27 Td (1.80) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 355.00 476.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 379.15 476.27 Td (4.23) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 408.00 476.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 432.15 476.27 Td (0.76) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 461.00 476.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 485.15 476.27 Td (3.07) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 514.00 476.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 538.15 476.27 Td (2.54) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 463.27 Td (Discontinued operations) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 322.80 463.32 Td (\(0.32) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 343.65 463.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 386.65 463.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 439.65 463.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 492.65 463.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 545.65 463.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 450.27 Td (Net earnings) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 302.00 450.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 326.15 450.27 Td (1.48) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 355.00 450.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 379.15 450.27 Td (4.23) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 408.00 450.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 432.15 450.27 Td (0.76) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 461.00 450.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 485.15 450.27 Td (3.07) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 514.00 450.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 538.15 450.27 Td (2.54) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 54.00 424.43 Td (Diluted earnings per) Tj ET Q
q 0 0 0 rg BT 141.69 424.43 Td ( shar) Tj ET Q
q 0 0 0 rg BT 162.90 424.43 Td (e information) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 411.27 Td (Earnings from continuing operations) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 302.00 411.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 326.15 411.27 Td (1.79) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 355.00 411.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 379.15 411.27 Td (4.16) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 408.00 411.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 432.15 411.27 Td (0.75) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 461.00 411.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 485.15 411.27 Td (3.02) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 514.00 411.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 538.15 411.27 Td (2.50) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 398.27 Td (Discontinued operations) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 322.80 398.32 Td (\(0.32) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 343.65 398.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 386.65 398.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 439.65 398.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 492.65 398.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 545.65 398.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 385.27 Td (Net earnings) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 302.00 385.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 326.15 385.27 Td (1.47) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 355.00 385.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 379.15 385.27 Td (4.16) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 408.00 385.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 432.15 385.27 Td (0.75) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 461.00 385.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 485.15 385.27 Td (3.02) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 514.00 385.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 538.15 385.27 Td (2.50) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 54.00 372.43 Td (A) Tj ET Q
q 0 0 0 rg BT 60.85 372.43 Td (verage diluted shar) Tj ET Q
q 0 0 0 rg BT 142.61 372.43 Td (es outstanding) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 206.00 372.27 Td (....................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 326.15 372.27 Td (45.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 379.15 372.27 Td (45.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 432.15 372.27 Td (45.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 485.15 372.27 Td (45.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 538.15 372.27 Td (45.4) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 54.00 346.43 Td (Other) Tj ET Q
q 0 0 0 rg BT 79.46 346.43 Td ( per) Tj ET Q
q 0 0 0 rg BT 96.21 346.43 Td ( shar) Tj ET Q
q 0 0 0 rg BT 117.43 346.43 Td (e information) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 333.27 Td (Dividends) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 96.00 333.27 Td (................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 302.00 333.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 321.15 333.27 Td (2.130) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 355.00 333.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 374.15 333.27 Td (2.030) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 408.00 333.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 427.15 333.27 Td (1.905) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 461.00 333.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.15 333.27 Td (1.780) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 514.00 333.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 533.15 333.27 Td (1.680) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 320.27 Td (Stock price-high) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 121.00 320.27 Td (......................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 321.50 320.27 Td (72.25) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 374.50 320.27 Td (66.25) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 427.50 320.27 Td (53.1) Tj ET Q
q 0 0 0 rg BT 445.00 320.27 Td (1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.50 320.27 Td (57.22) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 533.50 320.27 Td (53.84) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 307.27 Td (Stock price-low) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 118.50 307.27 Td (.......................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 321.15 307.27 Td (47.30) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 374.50 307.27 Td (43.85) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 427.50 307.27 Td (35.03) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.50 307.27 Td (41.95) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 533.50 307.27 Td (40.1) Tj ET Q
q 0 0 0 rg BT 551.00 307.27 Td (1) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 54.00 294.43 Td (Financial position at June�30,) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 54.00 281.27 Td (Current assets) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 111.00 281.27 Td (..........................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 302.00 281.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 313.60 281.27 Td (1,979.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 355.00 281.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 374.15 281.27 Td (505.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 408.00 281.27 Td ($) Tj ET Q
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q 0 0 0 rg BT 499.65 741.60 Td (Exhibit 10.14) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 50.00 691.20 Td (May 9, 2018) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 50.00 612.00 Td (Dear Patrick:) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 50.00 585.60 Td (This ) Tj ET Q
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q 0 0 0 rg BT 88.49 585.60 Td (to ) Tj ET Q
q 0 0 0 rg BT 102.40 585.60 Td (confirm ) Tj ET Q
q 0 0 0 rg BT 144.97 585.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 164.21 585.60 Td (terms ) Tj ET Q
q 0 0 0 rg BT 195.44 585.60 Td (and ) Tj ET Q
q 0 0 0 rg BT 217.35 585.60 Td (conditions ) Tj ET Q
q 0 0 0 rg BT 271.92 585.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 286.50 585.60 Td (your ) Tj ET Q
q 0 0 0 rg BT 313.07 585.60 Td (continued ) Tj ET Q
q 0 0 0 rg BT 364.97 585.60 Td (employment ) Tj ET Q
q 0 0 0 rg BT 429.54 585.60 Td (with ) Tj ET Q
q 0 0 0 rg BT 455.45 585.60 Td (Meredith ) Tj ET Q
q 0 0 0 rg BT 504.01 585.60 Td (Corporation ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 50.00 571.20 Td (\(�Meredith�\). ) Tj ET Q
q 0 0 0 rg BT 118.95 571.20 Td (This ) Tj ET Q
q 0 0 0 rg BT 143.06 571.20 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 199.94 571.20 Td (shall ) Tj ET Q
q 0 0 0 rg BT 226.18 571.20 Td (become ) Tj ET Q
q 0 0 0 rg BT 267.07 571.20 Td (ef) Tj ET Q
q 0 0 0 rg BT 276.17 571.20 Td (fective ) Tj ET Q
q 0 0 0 rg BT 312.39 571.20 Td (July ) Tj ET Q
q 0 0 0 rg BT 335.96 571.20 Td (1, ) Tj ET Q
q 0 0 0 rg BT 348.54 571.20 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 376.11 571.20 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 398.34 571.20 Td (�Ef) Tj ET Q
q 0 0 0 rg BT 414.77 571.20 Td (fective ) Tj ET Q
q 0 0 0 rg BT 450.99 571.20 Td (Date�\), ) Tj ET Q
q 0 0 0 rg BT 489.54 571.20 Td (subject ) Tj ET Q
q 0 0 0 rg BT 527.10 571.20 Td (to ) Tj ET Q
q 0 0 0 rg BT 540.01 571.20 Td (your ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 112.64 556.80 Td (this ) Tj ET Q
q 0 0 0 rg BT 132.32 556.80 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 188.63 556.80 Td (and ) Tj ET Q
q 0 0 0 rg BT 208.95 556.80 Td (approval ) Tj ET Q
q 0 0 0 rg BT 253.94 556.80 Td (by ) Tj ET Q
q 0 0 0 rg BT 268.94 556.80 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 316.26 556.80 Td (s ) Tj ET Q
q 0 0 0 rg BT 323.93 556.80 Td (Board ) Tj ET Q
q 0 0 0 rg BT 356.25 556.80 Td (of ) Tj ET Q
q 0 0 0 rg BT 369.25 556.80 Td (Directors ) Tj ET Q
q 0 0 0 rg BT 416.90 556.80 Td (prior ) Tj ET Q
q 0 0 0 rg BT 443.22 556.80 Td (to ) Tj ET Q
q 0 0 0 rg BT 455.56 556.80 Td (that ) Tj ET Q
q 0 0 0 rg BT 476.55 556.80 Td (date. ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 57.46 532.40 Td (our ) Tj ET Q
q 0 0 0 rg BT 76.72 532.40 Td (title ) Tj ET Q
q 0 0 0 rg BT 98.64 532.40 Td (as ) Tj ET Q
q 0 0 0 rg BT 111.90 532.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 125.15 532.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 143.07 532.40 Td (Ef) Tj ET Q
q 0 0 0 rg BT 154.18 532.40 Td (fective ) Tj ET Q
q 0 0 0 rg BT 190.08 532.40 Td (Date ) Tj ET Q
q 0 0 0 rg BT 215.99 532.40 Td (will ) Tj ET Q
q 0 0 0 rg BT 237.92 532.40 Td (be ) Tj ET Q
q 0 0 0 rg BT 252.51 532.40 Td (President, ) Tj ET Q
q 0 0 0 rg BT 303.43 532.40 Td (Local ) Tj ET Q
q 0 0 0 rg BT 334.00 532.40 Td (Media ) Tj ET Q
q 0 0 0 rg BT 367.92 532.40 Td (Group. ) Tj ET Q
q 0 0 0 rg BT 404.36 532.40 Td (Y) Tj ET Q
q 0 0 0 rg BT 411.82 532.40 Td (ou ) Tj ET Q
q 0 0 0 rg BT 427.08 532.40 Td (will ) Tj ET Q
q 0 0 0 rg BT 449.01 532.40 Td (be ) Tj ET Q
q 0 0 0 rg BT 463.59 532.40 Td (expected ) Tj ET Q
q 0 0 0 rg BT 509.49 532.40 Td (to ) Tj ET Q
q 0 0 0 rg BT 522.08 532.40 Td (travel ) Tj ET Q
q 0 0 0 rg BT 552.66 532.40 Td (to ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 97.32 518.00 Td (s ) Tj ET Q
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q 0 0 0 rg BT 135.12 518.00 Td (Media ) Tj ET Q
q 0 0 0 rg BT 168.69 518.00 Td (Group ) Tj ET Q
q 0 0 0 rg BT 202.26 518.00 Td (of) Tj ET Q
q 0 0 0 rg BT 212.04 518.00 Td (fices ) Tj ET Q
q 0 0 0 rg BT 237.60 518.00 Td (or ) Tj ET Q
q 0 0 0 rg BT 250.50 518.00 Td (other ) Tj ET Q
q 0 0 0 rg BT 278.06 518.00 Td (locations ) Tj ET Q
q 0 0 0 rg BT 324.29 518.00 Td (as ) Tj ET Q
q 0 0 0 rg BT 337.20 518.00 Td (appropriate ) Tj ET Q
q 0 0 0 rg BT 394.75 518.00 Td (to ) Tj ET Q
q 0 0 0 rg BT 406.99 518.00 Td (meet ) Tj ET Q
q 0 0 0 rg BT 433.21 518.00 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 480.54 518.00 Td (s ) Tj ET Q
q 0 0 0 rg BT 488.11 518.00 Td (business ) Tj ET Q
q 0 0 0 rg BT 531.69 518.00 Td (needs. ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 57.46 503.60 Td (our ) Tj ET Q
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q 0 0 0 rg BT 126.88 503.60 Td (base ) Tj ET Q
q 0 0 0 rg BT 151.58 503.60 Td (salary ) Tj ET Q
q 0 0 0 rg BT 183.61 503.60 Td (as ) Tj ET Q
q 0 0 0 rg BT 196.98 503.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 210.35 503.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 228.38 503.60 Td (Ef) Tj ET Q
q 0 0 0 rg BT 239.49 503.60 Td (fective ) Tj ET Q
q 0 0 0 rg BT 275.51 503.60 Td (Date ) Tj ET Q
q 0 0 0 rg BT 301.54 503.60 Td (will ) Tj ET Q
q 0 0 0 rg BT 323.58 503.60 Td (be ) Tj ET Q
q 0 0 0 rg BT 338.28 503.60 Td ($525,000 ) Tj ET Q
q 0 0 0 rg BT 386.66 503.60 Td (annually) Tj ET Q
q 0 0 0 rg BT 427.20 503.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 433.57 503.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 436.95 503.60 Td (Subsequent ) Tj ET Q
q 0 0 0 rg BT 495.65 503.60 Td (to ) Tj ET Q
q 0 0 0 rg BT 508.36 503.60 Td (Fiscal ) Tj ET Q
q 0 0 0 rg BT 539.90 503.60 Td (Y) Tj ET Q
q 0 0 0 rg BT 547.36 503.60 Td (ear ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 50.00 489.20 Td (2019, ) Tj ET Q
q 0 0 0 rg BT 79.87 489.20 Td (you ) Tj ET Q
q 0 0 0 rg BT 100.73 489.20 Td (will ) Tj ET Q
q 0 0 0 rg BT 122.27 489.20 Td (be ) Tj ET Q
q 0 0 0 rg BT 136.46 489.20 Td (eligible ) Tj ET Q
q 0 0 0 rg BT 175.32 489.20 Td (for ) Tj ET Q
q 0 0 0 rg BT 192.17 489.20 Td (merit ) Tj ET Q
q 0 0 0 rg BT 220.37 489.20 Td (increase ) Tj ET Q
q 0 0 0 rg BT 262.54 489.20 Td (consideration ) Tj ET Q
q 0 0 0 rg BT 330.05 489.20 Td (pursuant ) Tj ET Q
q 0 0 0 rg BT 374.24 489.20 Td (to ) Tj ET Q
q 0 0 0 rg BT 386.44 489.20 Td (company ) Tj ET Q
q 0 0 0 rg BT 433.30 489.20 Td (policy) Tj ET Q
q 0 0 0 rg BT 462.51 489.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 467.95 489.20 Td (Y) Tj ET Q
q 0 0 0 rg BT 475.42 489.20 Td (ou ) Tj ET Q
q 0 0 0 rg BT 490.28 489.20 Td (will ) Tj ET Q
q 0 0 0 rg BT 511.82 489.20 Td (be ) Tj ET Q
q 0 0 0 rg BT 526.01 489.20 Td (eligible ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 212.30 474.80 Td (Incentive ) Tj ET Q
q 0 0 0 rg BT 260.08 474.80 Td (Plan ) Tj ET Q
q 0 0 0 rg BT 284.56 474.80 Td (\(MIP\) ) Tj ET Q
q 0 0 0 rg BT 317.03 474.80 Td (for ) Tj ET Q
q 0 0 0 rg BT 334.16 474.80 Td (such ) Tj ET Q
q 0 0 0 rg BT 359.30 474.80 Td (periods ) Tj ET Q
q 0 0 0 rg BT 397.76 474.80 Td (as ) Tj ET Q
q 0 0 0 rg BT 410.90 474.80 Td (it ) Tj ET Q
q 0 0 0 rg BT 420.70 474.80 Td (continues ) Tj ET Q
q 0 0 0 rg BT 469.83 474.80 Td (in ) Tj ET Q
q 0 0 0 rg BT 482.31 474.80 Td (ef) Tj ET Q
q 0 0 0 rg BT 491.41 474.80 Td (fect, ) Tj ET Q
q 0 0 0 rg BT 515.53 474.80 Td (subject ) Tj ET Q
q 0 0 0 rg BT 552.66 474.80 Td (to ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 67.48 460.40 Td (terms ) Tj ET Q
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q 0 0 0 rg BT 109.78 460.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 127.27 460.40 Td (plan ) Tj ET Q
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q 0 0 0 rg BT 183.06 460.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 200.54 460.40 Td (discretion ) Tj ET Q
q 0 0 0 rg BT 250.68 460.40 Td (vested ) Tj ET Q
q 0 0 0 rg BT 284.16 460.40 Td (in ) Tj ET Q
q 0 0 0 rg BT 296.32 460.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 313.80 460.40 Td (Compensation ) Tj ET Q
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BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 148.38 446.00 Td (60% ) Tj ET Q
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q 0 0 0 rg BT 200.26 446.00 Td (pay ) Tj ET Q
q 0 0 0 rg BT 221.87 446.00 Td (�tar) Tj ET Q
q 0 0 0 rg BT 239.63 446.00 Td (get.� ) Tj ET Q
q 0 0 0 rg BT 265.95 446.00 Td (Any ) Tj ET Q
q 0 0 0 rg BT 290.90 446.00 Td (MIP) Tj ET Q
q 0 0 0 rg BT 311.80 446.00 Td ( ) Tj ET Q
q 0 0 0 rg BT 316.08 446.00 Td (payment ) Tj ET Q
q 0 0 0 rg BT 361.68 446.00 Td (will ) Tj ET Q
q 0 0 0 rg BT 384.62 446.00 Td (be ) Tj ET Q
q 0 0 0 rg BT 400.23 446.00 Td (paid ) Tj ET Q
q 0 0 0 rg BT 425.17 446.00 Td (out ) Tj ET Q
q 0 0 0 rg BT 444.79 446.00 Td (in ) Tj ET Q
q 0 0 0 rg BT 457.46 446.00 Td (August ) Tj ET Q
q 0 0 0 rg BT 496.41 446.00 Td (following ) Tj ET Q
q 0 0 0 rg BT 547.35 446.00 Td (the ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 50.00 431.60 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 102.10 431.60 Td (Fiscal ) Tj ET Q
q 0 0 0 rg BT 133.15 431.60 Td (Y) Tj ET Q
q 0 0 0 rg BT 140.62 431.60 Td (ear ) Tj ET Q
q 0 0 0 rg BT 158.06 431.60 Td (\(the ) Tj ET Q
q 0 0 0 rg BT 179.52 431.60 Td (Fiscal ) Tj ET Q
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q 0 0 0 rg BT 235.47 431.60 Td (runs ) Tj ET Q
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q 0 0 0 rg BT 356.79 431.60 Td (June ) Tj ET Q
q 0 0 0 rg BT 381.58 431.60 Td (30\), ) Tj ET Q
q 0 0 0 rg BT 403.38 431.60 Td (and ) Tj ET Q
q 0 0 0 rg BT 423.50 431.60 Td (is ) Tj ET Q
q 0 0 0 rg BT 434.30 431.60 Td (conditioned ) Tj ET Q
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q 0 0 0 rg BT 508.55 431.60 Td (your ) Tj ET Q
q 0 0 0 rg BT 533.35 431.60 Td (active ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 50.00 417.20 Td (employment ) Tj ET Q
q 0 0 0 rg BT 112.99 417.20 Td (with ) Tj ET Q
q 0 0 0 rg BT 137.32 417.20 Td (Meredith ) Tj ET Q
q 0 0 0 rg BT 184.31 417.20 Td (at ) Tj ET Q
q 0 0 0 rg BT 195.97 417.20 Td (the ) Tj ET Q
q 0 0 0 rg BT 213.63 417.20 Td (end ) Tj ET Q
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q 0 0 0 rg BT 264.61 417.20 Td (performance ) Tj ET Q
q 0 0 0 rg BT 328.24 417.20 Td (period ) Tj ET Q
q 0 0 0 rg BT 361.89 417.20 Td (\(June ) Tj ET Q
q 0 0 0 rg BT 390.89 417.20 Td (30\) ) Tj ET Q
q 0 0 0 rg BT 409.88 417.20 Td (for ) Tj ET Q
q 0 0 0 rg BT 426.88 417.20 Td (the ) Tj ET Q
q 0 0 0 rg BT 444.54 417.20 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 496.84 417.20 Td (Fiscal ) Tj ET Q
q 0 0 0 rg BT 528.06 417.20 Td (Y) Tj ET Q
q 0 0 0 rg BT 535.53 417.20 Td (ear) Tj ET Q
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BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 506.04 392.80 Td (\(�Program� ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 150.53 378.40 Td (you ) Tj ET Q
q 0 0 0 rg BT 171.78 378.40 Td (will ) Tj ET Q
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q 0 0 0 rg BT 219.60 378.40 Td (the ) Tj ET Q
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BT /F2 12.00 Tf ET
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BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 295.19 349.60 Td (made ) Tj ET Q
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BT /F2 12.00 Tf ET
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BT /F2 12.00 Tf ET
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BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 144.75 629.90 Td (Cause. ) Tj ET Q
q 0 0 0 rg BT 179.77 629.90 Td (In ) Tj ET Q
q 0 0 0 rg BT 192.46 629.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 209.81 629.90 Td (event ) Tj ET Q
q 0 0 0 rg BT 238.49 629.90 Td (your ) Tj ET Q
q 0 0 0 rg BT 263.18 629.90 Td (employment ) Tj ET Q
q 0 0 0 rg BT 325.86 629.90 Td (is ) Tj ET Q
q 0 0 0 rg BT 336.56 629.90 Td (terminated ) Tj ET Q
q 0 0 0 rg BT 390.56 629.90 Td (by ) Tj ET Q
q 0 0 0 rg BT 405.25 629.90 Td (Meredith ) Tj ET Q
q 0 0 0 rg BT 451.93 629.90 Td (without ) Tj ET Q
q 0 0 0 rg BT 491.29 629.90 Td (Cause, ) Tj ET Q
q 0 0 0 rg BT 526.31 629.90 Td (then, ) Tj ET Q
q 0 0 0 rg BT 552.66 629.90 Td (in ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 50.00 615.50 Td (return ) Tj ET Q
q 0 0 0 rg BT 80.56 615.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 96.46 615.50 Td (you ) Tj ET Q
q 0 0 0 rg BT 116.37 615.50 Td (executing ) Tj ET Q
q 0 0 0 rg BT 164.93 615.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 172.16 615.50 Td (Separation ) Tj ET Q
q 0 0 0 rg BT 224.96 615.50 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 280.18 615.50 Td (that ) Tj ET Q
q 0 0 0 rg BT 300.08 615.50 Td (includes ) Tj ET Q
q 0 0 0 rg BT 341.98 615.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 349.22 615.50 Td (full ) Tj ET Q
q 0 0 0 rg BT 367.79 615.50 Td (release ) Tj ET Q
q 0 0 0 rg BT 403.00 615.50 Td (of ) Tj ET Q
q 0 0 0 rg BT 414.91 615.50 Td (all ) Tj ET Q
q 0 0 0 rg BT 428.81 615.50 Td (employment-related ) Tj ET Q
q 0 0 0 rg BT 527.35 615.50 Td (claims:) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 86.00 591.10 Td (a. ) Tj ET Q
BT /F3 12.00 Tf ET
q 0 0 0 rg BT 104.00 591.10 Td (Release ) Tj ET Q
q 0 0 0 rg BT 143.47 591.10 Td (Pay: ) Tj ET Q
q 0 0 0 rg BT 168.29 591.10 Td ( ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 170.45 591.10 Td (Meredith ) Tj ET Q
q 0 0 0 rg BT 216.59 591.10 Td (will ) Tj ET Q
q 0 0 0 rg BT 237.42 591.10 Td (pay ) Tj ET Q
q 0 0 0 rg BT 256.91 591.10 Td (you ) Tj ET Q
q 0 0 0 rg BT 277.07 591.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 293.89 591.10 Td (equivalent ) Tj ET Q
q 0 0 0 rg BT 346.03 591.10 Td (twelve ) Tj ET Q
q 0 0 0 rg BT 380.18 591.10 Td (\(12\) ) Tj ET Q
q 0 0 0 rg BT 402.33 591.10 Td (months ) Tj ET Q
q 0 0 0 rg BT 439.83 591.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 451.99 591.10 Td (your ) Tj ET Q
q 0 0 0 rg BT 476.14 591.10 Td (base ) Tj ET Q
q 0 0 0 rg BT 499.63 591.10 Td (salary) Tj ET Q
q 0 0 0 rg BT 527.50 591.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 532.66 591.10 Td (minus ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 104.00 576.70 Td (applicable ) Tj ET Q
q 0 0 0 rg BT 156.52 576.70 Td (withholdings ) Tj ET Q
q 0 0 0 rg BT 222.41 576.70 Td (and ) Tj ET Q
q 0 0 0 rg BT 242.96 576.70 Td (deductions, ) Tj ET Q
q 0 0 0 rg BT 301.16 576.70 Td (\(�Release ) Tj ET Q
q 0 0 0 rg BT 351.01 576.70 Td (Pay�\). ) Tj ET Q
q 0 0 0 rg BT 384.55 576.70 Td ( ) Tj ET Q
q 0 0 0 rg BT 387.54 576.70 Td (The ) Tj ET Q
q 0 0 0 rg BT 409.41 576.70 Td (Release ) Tj ET Q
q 0 0 0 rg BT 449.94 576.70 Td (Pay ) Tj ET Q
q 0 0 0 rg BT 471.16 576.70 Td (will ) Tj ET Q
q 0 0 0 rg BT 493.04 576.70 Td (be ) Tj ET Q
q 0 0 0 rg BT 507.58 576.70 Td (paid ) Tj ET Q
q 0 0 0 rg BT 531.46 576.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 544.01 576.70 Td (you ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 104.00 562.30 Td (as ) Tj ET Q
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q 0 0 0 rg BT 175.99 562.30 Td (within ) Tj ET Q
q 0 0 0 rg BT 209.66 562.30 Td (fifteen ) Tj ET Q
q 0 0 0 rg BT 243.97 562.30 Td (\(15\) ) Tj ET Q
q 0 0 0 rg BT 266.97 562.30 Td (days ) Tj ET Q
q 0 0 0 rg BT 291.96 562.30 Td (after ) Tj ET Q
q 0 0 0 rg BT 316.94 562.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 334.60 562.30 Td (Separation ) Tj ET Q
q 0 0 0 rg BT 388.26 562.30 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 444.56 562.30 Td (becomes ) Tj ET Q
q 0 0 0 rg BT 489.55 562.30 Td (ef) Tj ET Q
q 0 0 0 rg BT 498.65 562.30 Td (fective.) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 86.00 535.90 Td (b. ) Tj ET Q
BT /F3 12.00 Tf ET
q 0 0 0 rg BT 104.00 535.90 Td (Release ) Tj ET Q
q 0 0 0 rg BT 144.31 535.90 Td (Benefits:) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 186.96 535.90 Td ( ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 194.00 535.90 Td (In ) Tj ET Q
q 0 0 0 rg BT 207.25 535.90 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 252.83 535.90 Td (if ) Tj ET Q
q 0 0 0 rg BT 263.41 535.90 Td (you ) Tj ET Q
q 0 0 0 rg BT 284.66 535.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 302.56 535.90 Td (otherwise ) Tj ET Q
q 0 0 0 rg BT 352.47 535.90 Td (eligible ) Tj ET Q
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q 0 0 0 rg BT 408.95 535.90 Td (benefits ) Tj ET Q
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q 0 0 0 rg BT 480.76 535.90 Td (the ) Tj ET Q
q 0 0 0 rg BT 498.68 535.90 Td (Consolidated ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 189.99 521.50 Td (Reconciliation ) Tj ET Q
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q 0 0 0 rg BT 283.81 521.50 Td (\(�COBRA�\) ) Tj ET Q
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q 0 0 0 rg BT 368.44 521.50 Td (you ) Tj ET Q
q 0 0 0 rg BT 390.10 521.50 Td (elect ) Tj ET Q
q 0 0 0 rg BT 416.41 521.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 429.41 521.50 Td (receive ) Tj ET Q
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q 0 0 0 rg BT 496.69 521.50 Td (benefits, ) Tj ET Q
q 0 0 0 rg BT 541.34 521.50 Td (then ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 171.75 507.10 Td (provide ) Tj ET Q
q 0 0 0 rg BT 210.95 507.10 Td (you ) Tj ET Q
q 0 0 0 rg BT 231.50 507.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 239.37 507.10 Td (full ) Tj ET Q
q 0 0 0 rg BT 258.58 507.10 Td (subsidy ) Tj ET Q
q 0 0 0 rg BT 297.81 507.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 314.35 507.10 Td (the ) Tj ET Q
q 0 0 0 rg BT 331.55 507.10 Td (premium ) Tj ET Q
q 0 0 0 rg BT 377.42 507.10 Td (char) Tj ET Q
q 0 0 0 rg BT 397.86 507.10 Td (ged ) Tj ET Q
q 0 0 0 rg BT 417.73 507.10 Td (under ) Tj ET Q
q 0 0 0 rg BT 447.60 507.10 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 494.92 507.10 Td (s ) Tj ET Q
q 0 0 0 rg BT 502.14 507.10 Td (group ) Tj ET Q
q 0 0 0 rg BT 532.68 507.10 Td (health ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 104.00 492.70 Td (plan ) Tj ET Q
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q 0 0 0 rg BT 167.20 492.70 Td (the ) Tj ET Q
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q 0 0 0 rg BT 216.99 492.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 234.25 492.70 Td (month ) Tj ET Q
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q 0 0 0 rg BT 316.79 492.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 334.05 492.70 Td (month ) Tj ET Q
q 0 0 0 rg BT 367.32 492.70 Td (you ) Tj ET Q
q 0 0 0 rg BT 387.93 492.70 Td (were ) Tj ET Q
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q 0 0 0 rg BT 467.76 492.70 Td (\(�Subsidy ) Tj ET Q
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q 0 0 0 rg BT 565.01 492.70 Td ( ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 296.68 478.30 Td (you ) Tj ET Q
q 0 0 0 rg BT 317.02 478.30 Td (shall ) Tj ET Q
q 0 0 0 rg BT 342.02 478.30 Td (be ) Tj ET Q
q 0 0 0 rg BT 355.68 478.30 Td (responsible ) Tj ET Q
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q 0 0 0 rg BT 518.68 478.30 Td (premium ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 510.16 463.90 Td (shall ) Tj ET Q
q 0 0 0 rg BT 535.35 463.90 Td (count ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 298.88 449.50 Td (is ) Tj ET Q
q 0 0 0 rg BT 311.26 449.50 Td (required ) Tj ET Q
q 0 0 0 rg BT 355.62 449.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 369.33 449.50 Td (of) Tj ET Q
q 0 0 0 rg BT 379.11 449.50 Td (fer ) Tj ET Q
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q 0 0 0 rg BT 441.87 449.50 Td (coverage ) Tj ET Q
q 0 0 0 rg BT 489.55 449.50 Td (to ) Tj ET Q
q 0 0 0 rg BT 503.26 449.50 Td (you ) Tj ET Q
q 0 0 0 rg BT 525.64 449.50 Td (or ) Tj ET Q
q 0 0 0 rg BT 540.01 449.50 Td (your ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 104.00 435.10 Td (dependents.) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 86.00 398.70 Td (c. ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 104.00 398.70 Td (Y) Tj ET Q
q 0 0 0 rg BT 111.46 398.70 Td (ou ) Tj ET Q
q 0 0 0 rg BT 127.51 398.70 Td (agree ) Tj ET Q
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q 0 0 0 rg BT 226.00 398.70 Td (of ) Tj ET Q
q 0 0 0 rg BT 240.04 398.70 Td (your ) Tj ET Q
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q 0 0 0 rg BT 366.15 398.70 Td (Cause, ) Tj ET Q
q 0 0 0 rg BT 402.51 398.70 Td (you ) Tj ET Q
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q 0 0 0 rg BT 458.60 398.70 Td (be ) Tj ET Q
q 0 0 0 rg BT 473.96 398.70 Td (eligible ) Tj ET Q
q 0 0 0 rg BT 513.99 398.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 527.37 398.70 Td (receive ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 261.85 384.30 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 309.17 384.30 Td (s ) Tj ET Q
q 0 0 0 rg BT 315.98 384.30 Td (Severance ) Tj ET Q
q 0 0 0 rg BT 367.42 384.30 Td (Pay ) Tj ET Q
q 0 0 0 rg BT 387.56 384.30 Td (Plan, ) Tj ET Q
q 0 0 0 rg BT 414.03 384.30 Td (you ) Tj ET Q
q 0 0 0 rg BT 434.17 384.30 Td (may ) Tj ET Q
q 0 0 0 rg BT 456.97 384.30 Td (be ) Tj ET Q
q 0 0 0 rg BT 470.44 384.30 Td (treated ) Tj ET Q
q 0 0 0 rg BT 505.22 384.30 Td (under ) Tj ET Q
q 0 0 0 rg BT 534.68 384.30 Td (either ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 104.00 369.90 Td (that ) Tj ET Q
q 0 0 0 rg BT 124.58 369.90 Td (Plan ) Tj ET Q
q 0 0 0 rg BT 148.51 369.90 Td (or ) Tj ET Q
q 0 0 0 rg BT 161.09 369.90 Td (under ) Tj ET Q
q 0 0 0 rg BT 191.01 369.90 Td (this ) Tj ET Q
q 0 0 0 rg BT 210.36 369.90 Td (Agreement; ) Tj ET Q
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q 0 0 0 rg BT 287.52 369.90 Td (you ) Tj ET Q
q 0 0 0 rg BT 308.11 369.90 Td (are ) Tj ET Q
q 0 0 0 rg BT 325.35 369.90 Td (not ) Tj ET Q
q 0 0 0 rg BT 343.27 369.90 Td (entitled ) Tj ET Q
q 0 0 0 rg BT 381.85 369.90 Td (to ) Tj ET Q
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q 0 0 0 rg BT 450.27 369.90 Td (benefits ) Tj ET Q
q 0 0 0 rg BT 490.84 369.90 Td (under ) Tj ET Q
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q 0 0 0 rg BT 544.68 369.90 Td (this ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 160.31 355.50 Td (and ) Tj ET Q
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q 0 0 0 rg BT 210.96 355.50 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 258.28 355.50 Td (s ) Tj ET Q
q 0 0 0 rg BT 265.95 355.50 Td (Severance ) Tj ET Q
q 0 0 0 rg BT 318.25 355.50 Td (Pay ) Tj ET Q
q 0 0 0 rg BT 339.25 355.50 Td (Plan ) Tj ET Q
q 0 0 0 rg BT 363.58 355.50 Td (under ) Tj ET Q
q 0 0 0 rg BT 393.90 355.50 Td (any ) Tj ET Q
q 0 0 0 rg BT 414.23 355.50 Td (circumstances.) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 230.52 326.70 Td (and ) Tj ET Q
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q 0 0 0 rg BT 363.50 326.70 Td (fer ) Tj ET Q
q 0 0 0 rg BT 380.14 326.70 Td (you ) Tj ET Q
q 0 0 0 rg BT 401.46 326.70 Td (agree ) Tj ET Q
q 0 0 0 rg BT 430.75 326.70 Td (to ) Tj ET Q
q 0 0 0 rg BT 443.41 326.70 Td (the ) Tj ET Q
q 0 0 0 rg BT 461.39 326.70 Td (terms ) Tj ET Q
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BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 66.33 312.30 Td (forth ) Tj ET Q
q 0 0 0 rg BT 92.66 312.30 Td (below:) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 68.00 285.90 Td (1. ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 140.25 285.90 Td (Agreement ) Tj ET Q
q 0 0 0 rg BT 197.83 285.90 Td (is ) Tj ET Q
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q 0 0 0 rg BT 223.70 285.90 Td (ef) Tj ET Q
q 0 0 0 rg BT 232.80 285.90 Td (fect ) Tj ET Q
q 0 0 0 rg BT 255.05 285.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 276.65 285.90 Td (for ) Tj ET Q
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q 0 0 0 rg BT 339.42 285.90 Td (of ) Tj ET Q
q 0 0 0 rg BT 353.69 285.90 Td (twelve ) Tj ET Q
q 0 0 0 rg BT 389.94 285.90 Td (\(12\) ) Tj ET Q
q 0 0 0 rg BT 414.20 285.90 Td (months ) Tj ET Q
q 0 0 0 rg BT 453.80 285.90 Td (thereafter ) Tj ET Q
q 0 0 0 rg BT 504.03 285.90 Td (\(�Restricted ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 176.68 271.50 Td (not ) Tj ET Q
q 0 0 0 rg BT 195.46 271.50 Td (solicit ) Tj ET Q
q 0 0 0 rg BT 228.25 271.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 245.69 271.50 Td (employment, ) Tj ET Q
q 0 0 0 rg BT 312.14 271.50 Td (refer ) Tj ET Q
q 0 0 0 rg BT 338.23 271.50 Td (or ) Tj ET Q
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q 0 0 0 rg BT 393.78 271.50 Td (for ) Tj ET Q
q 0 0 0 rg BT 411.22 271.50 Td (employment, ) Tj ET Q
q 0 0 0 rg BT 477.66 271.50 Td (hire ) Tj ET Q
q 0 0 0 rg BT 499.77 271.50 Td (or ) Tj ET Q
q 0 0 0 rg BT 513.22 271.50 Td (employ ) Tj ET Q
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BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 106.27 257.10 Td (capacity) Tj ET Q
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q 0 0 0 rg BT 151.40 257.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 164.34 257.10 Td (advise ) Tj ET Q
q 0 0 0 rg BT 197.93 257.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 210.87 257.10 Td (recommend ) Tj ET Q
q 0 0 0 rg BT 270.45 257.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 282.72 257.10 Td (any ) Tj ET Q
q 0 0 0 rg BT 302.99 257.10 Td (other ) Tj ET Q
q 0 0 0 rg BT 330.59 257.10 Td (person ) Tj ET Q
q 0 0 0 rg BT 365.52 257.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 378.45 257.10 Td (entity ) Tj ET Q
q 0 0 0 rg BT 408.72 257.10 Td (that ) Tj ET Q
q 0 0 0 rg BT 429.66 257.10 Td (it ) Tj ET Q
q 0 0 0 rg BT 439.26 257.10 Td (hire, ) Tj ET Q
q 0 0 0 rg BT 463.86 257.10 Td (employ ) Tj ET Q
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BT /F2 12.00 Tf ET
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BT /F2 12.00 Tf ET
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BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 492.05 627.90 Td (through ) Tj ET Q
q 0 0 0 rg BT 532.01 627.90 Td (public ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 86.00 613.50 Td (means ) Tj ET Q
q 0 0 0 rg BT 119.21 613.50 Td (\(e.g., ) Tj ET Q
q 0 0 0 rg BT 146.08 613.50 Td (phone ) Tj ET Q
q 0 0 0 rg BT 177.96 613.50 Td (books, ) Tj ET Q
q 0 0 0 rg BT 212.19 613.50 Td (published ) Tj ET Q
q 0 0 0 rg BT 261.40 613.50 Td (materials ) Tj ET Q
q 0 0 0 rg BT 307.94 613.50 Td (or ) Tj ET Q
q 0 0 0 rg BT 320.49 613.50 Td (industry ) Tj ET Q
q 0 0 0 rg BT 362.38 613.50 Td (publications\). ) Tj ET Q
q 0 0 0 rg BT 430.58 613.50 Td (Notwithstanding ) Tj ET Q
q 0 0 0 rg BT 513.13 613.50 Td (the ) Tj ET Q
q 0 0 0 rg BT 530.35 613.50 Td (above, ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 86.00 599.10 Td (you ) Tj ET Q
q 0 0 0 rg BT 106.18 599.10 Td (understand ) Tj ET Q
q 0 0 0 rg BT 161.00 599.10 Td (that ) Tj ET Q
q 0 0 0 rg BT 181.17 599.10 Td (you ) Tj ET Q
q 0 0 0 rg BT 201.35 599.10 Td (have ) Tj ET Q
q 0 0 0 rg BT 226.18 599.10 Td (immunity ) Tj ET Q
q 0 0 0 rg BT 275.02 599.10 Td (from ) Tj ET Q
q 0 0 0 rg BT 300.52 599.10 Td (criminal ) Tj ET Q
q 0 0 0 rg BT 342.68 599.10 Td (or ) Tj ET Q
q 0 0 0 rg BT 354.85 599.10 Td (civil ) Tj ET Q
q 0 0 0 rg BT 378.36 599.10 Td (liability ) Tj ET Q
q 0 0 0 rg BT 417.86 599.10 Td (for ) Tj ET Q
q 0 0 0 rg BT 434.03 599.10 Td (disclosure ) Tj ET Q
q 0 0 0 rg BT 484.86 599.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 497.03 599.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 504.53 599.10 Td (trade ) Tj ET Q
q 0 0 0 rg BT 530.69 599.10 Td (secret: ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 86.00 584.70 Td (\(1\) ) Tj ET Q
q 0 0 0 rg BT 102.87 584.70 Td (made ) Tj ET Q
q 0 0 0 rg BT 131.74 584.70 Td (in ) Tj ET Q
q 0 0 0 rg BT 143.95 584.70 Td (confidence ) Tj ET Q
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q 0 0 0 rg BT 211.68 584.70 Td (a ) Tj ET Q
q 0 0 0 rg BT 219.89 584.70 Td (Federal, ) Tj ET Q
q 0 0 0 rg BT 261.75 584.70 Td (State, ) Tj ET Q
q 0 0 0 rg BT 291.62 584.70 Td (or ) Tj ET Q
q 0 0 0 rg BT 304.50 584.70 Td (local ) Tj ET Q
q 0 0 0 rg BT 330.70 584.70 Td (government ) Tj ET Q
q 0 0 0 rg BT 390.90 584.70 Td (of) Tj ET Q
q 0 0 0 rg BT 400.67 584.70 Td (ficial, ) Tj ET Q
q 0 0 0 rg BT 431.21 584.70 Td (either ) Tj ET Q
q 0 0 0 rg BT 461.40 584.70 Td (directly ) Tj ET Q
q 0 0 0 rg BT 500.93 584.70 Td (or ) Tj ET Q
q 0 0 0 rg BT 513.81 584.70 Td (indirectly) Tj ET Q
q 0 0 0 rg BT 559.01 584.70 Td (, ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 98.77 570.30 Td (to ) Tj ET Q
q 0 0 0 rg BT 110.89 570.30 Td (an ) Tj ET Q
q 0 0 0 rg BT 124.99 570.30 Td (attorney) Tj ET Q
q 0 0 0 rg BT 163.53 570.30 Td (, ) Tj ET Q
q 0 0 0 rg BT 169.31 570.30 Td (solely ) Tj ET Q
q 0 0 0 rg BT 200.75 570.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 217.52 570.30 Td (the ) Tj ET Q
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q 0 0 0 rg BT 552.01 570.30 Td (or ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 86.00 555.90 Td (\(2\) ) Tj ET Q
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q 0 0 0 rg BT 220.56 555.90 Td (other ) Tj ET Q
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q 0 0 0 rg BT 554.01 555.90 Td (is ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 519.35 541.50 Td (violation ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 86.00 527.10 Td (of ) Tj ET Q
q 0 0 0 rg BT 99.36 527.10 Td (law) Tj ET Q
q 0 0 0 rg BT 115.91 527.10 Td (, ) Tj ET Q
q 0 0 0 rg BT 122.28 527.10 Td (you ) Tj ET Q
q 0 0 0 rg BT 143.65 527.10 Td (may ) Tj ET Q
q 0 0 0 rg BT 167.67 527.10 Td (disclose ) Tj ET Q
q 0 0 0 rg BT 209.70 527.10 Td (a ) Tj ET Q
q 0 0 0 rg BT 218.40 527.10 Td (trade ) Tj ET Q
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q 0 0 0 rg BT 397.90 527.10 Td (the ) Tj ET Q
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q 0 0 0 rg BT 443.28 527.10 Td (secret ) Tj ET Q
q 0 0 0 rg BT 474.62 527.10 Td (information ) Tj ET Q
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q 0 0 0 rg BT 547.35 527.10 Td (the ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 411.38 512.70 Td (trade ) Tj ET Q
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q 0 0 0 rg BT 491.07 512.70 Td (do ) Tj ET Q
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BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 106.12 498.30 Td (trade ) Tj ET Q
q 0 0 0 rg BT 135.55 498.30 Td (secret ) Tj ET Q
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q 0 0 0 rg BT 267.32 498.30 Td (court ) Tj ET Q
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q 0 0 0 rg BT 329.74 498.30 Td (Y) Tj ET Q
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q 0 0 0 rg BT 354.66 498.30 Td (will ) Tj ET Q
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q 0 0 0 rg BT 419.56 498.30 Td (or ) Tj ET Q
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q 0 0 0 rg BT 550.01 498.30 Td (all ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 86.00 483.90 Td (Confidential ) Tj ET Q
q 0 0 0 rg BT 150.25 483.90 Td (Information ) Tj ET Q
q 0 0 0 rg BT 211.84 483.90 Td (and ) Tj ET Q
q 0 0 0 rg BT 233.43 483.90 Td (all ) Tj ET Q
q 0 0 0 rg BT 249.69 483.90 Td (other ) Tj ET Q
q 0 0 0 rg BT 278.61 483.90 Td (property ) Tj ET Q
q 0 0 0 rg BT 323.53 483.90 Td (belonging ) Tj ET Q
q 0 0 0 rg BT 375.79 483.90 Td (to ) Tj ET Q
q 0 0 0 rg BT 389.39 483.90 Td (Meredith ) Tj ET Q
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BT /F2 12.00 Tf ET
q 0 0 0 rg BT 86.00 469.50 Td (employment.) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 68.00 443.10 Td (4. ) Tj ET Q
BT /F2 12.00 Tf ET
q 0 0 0 rg BT 86.00 443.10 Td (While ) Tj ET Q
q 0 0 0 rg BT 119.03 443.10 Td (you ) Tj ET Q
q 0 0 0 rg BT 140.74 443.10 Td (are ) Tj ET Q
q 0 0 0 rg BT 159.10 443.10 Td (employed ) Tj ET Q
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q 0 0 0 rg BT 346.77 443.10 Td (you ) Tj ET Q
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q 0 0 0 rg BT 398.16 443.10 Td (to ) Tj ET Q
q 0 0 0 rg BT 411.21 443.10 Td (cooperate ) Tj ET Q
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q 0 0 0 rg BT 486.60 443.10 Td (Meredith ) Tj ET Q
q 0 0 0 rg BT 534.29 443.10 Td (in ) Tj ET Q
q 0 0 0 rg BT 547.34 443.10 Td (the ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 512.76 428.70 Td (an ) Tj ET Q
q 0 0 0 rg BT 526.68 428.70 Td (interest ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 115.71 414.30 Td (the ) Tj ET Q
q 0 0 0 rg BT 134.74 414.30 Td (right ) Tj ET Q
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q 0 0 0 rg BT 176.15 414.30 Td (reimbursement ) Tj ET Q
q 0 0 0 rg BT 252.50 414.30 Td (for ) Tj ET Q
q 0 0 0 rg BT 270.87 414.30 Td (reasonable ) Tj ET Q
q 0 0 0 rg BT 326.55 414.30 Td (expenses ) Tj ET Q
q 0 0 0 rg BT 374.25 414.30 Td (actually ) Tj ET Q
q 0 0 0 rg BT 416.60 414.30 Td (incurred\) ) Tj ET Q
q 0 0 0 rg BT 464.95 414.30 Td (which ) Tj ET Q
q 0 0 0 rg BT 498.65 414.30 Td (may ) Tj ET Q
q 0 0 0 rg BT 523.69 414.30 Td (include, ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 268.35 399.90 Td (participate ) Tj ET Q
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q 0 0 0 rg BT 461.68 399.90 Td (Meredith, ) Tj ET Q
q 0 0 0 rg BT 512.01 399.90 Td (permitting ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 544.67 385.50 Td (and ) Tj ET Q
BT /F2 12.00 Tf ET
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BT /F2 12.00 Tf ET
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BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 290.71 320.30 Td (This ) Tj ET Q
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q 0 0 0 rg BT 555.34 320.30 Td (it ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 485.04 305.90 Td (letter ) Tj ET Q
q 0 0 0 rg BT 512.03 305.90 Td (agreement ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 131.28 291.50 Td (July ) Tj ET Q
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q 0 0 0 rg BT 322.11 291.50 Td (modified ) Tj ET Q
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q 0 0 0 rg BT 476.49 291.50 Td (by ) Tj ET Q
q 0 0 0 rg BT 491.37 291.50 Td (you ) Tj ET Q
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q 0 0 0 rg BT 532.46 291.50 Td (a ) Tj ET Q
q 0 0 0 rg BT 540.66 291.50 Td (duly ) Tj ET Q
BT /F2 12.00 Tf ET
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q 0 0 0 rg BT 103.64 277.10 Td (of) Tj ET Q
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