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q 0 0 0 rg BT 50.00 405.45 Td (The Company operates two business segments: national media and local media. Our national media segment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 392.25 Td (includes leading national consumer media brands delivered via multiple media platforms including print magazines, ) Tj ET Q
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
q 0 0 0 rg BT 50.00 352.65 Td (categories, which include titles such as ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 223.81 352.65 Td (People, Better Homes & Gar) Tj ET Q
q 0 0 0 rg BT 351.40 352.65 Td (dens, InStyle, ) Tj ET Q
q 0 0 0 rg BT 412.90 352.65 Td (Allr) Tj ET Q
q 0 0 0 rg BT 429.61 352.65 Td (ecipes, Real Simple, Southern ) Tj ET Q
BT /F4 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F4 11.00 Tf ET
q 0 0 0 rg BT 102.24 339.45 Td (Martha Stewart Living) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 202.47 339.45 Td ( among others. In addition to subscription magazines, in fiscal 2019 we published ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 326.25 Td (over 300 special interest publications. Most of our brands are also available as digital editions on one or more of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 313.05 Td (major digital newsstands and on major tablet devices. ) Tj ET Q
q 0 0 0 rg BT 288.38 313.05 Td (The national media segment�) Tj ET Q
q 0 0 0 rg BT 415.76 313.05 Td (s extensive digital presence ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 299.85 Td (consists of more than 60 websites and applications \(apps\). ) Tj ET Q
q 0 0 0 rg BT 308.25 299.85 Td (The national media segment also includes brand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 286.65 Td (licensing activities, af) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 273.45 Td (operations.) Tj ET Q
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
q 0 0 0 rg BT 50.00 235.05 Td (markets with related digital and mobile media assets. ) Tj ET Q
q 0 0 0 rg BT 285.93 235.05 Td (The television stations include seven CBS af) Tj ET Q
q 0 0 0 rg BT 482.48 235.05 Td (filiates, five FOX ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 221.85 Td (af) Tj ET Q
q 0 0 0 rg BT 58.35 221.85 Td (filiates, two MyNetworkTV) Tj ET Q
q 0 0 0 rg BT 181.26 221.85 Td ( af) Tj ET Q
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
q 0 0 0 rg BT 50.00 208.65 Td (media�) Tj ET Q
q 0 0 0 rg BT 79.93 208.65 Td (s digital presence includes 12 websites, 12 mobile-optimized websites, and approximately 30 apps focused ) Tj ET Q
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
q 0 0 0 rg BT 176.86 195.45 Td (-related information. In addition, the local media segment sells geographic and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 182.20 Td (demographic-tar) Tj ET Q
q 0 0 0 rg BT 122.49 182.20 Td (geted advertising programs to third parties.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 157.00 Td (Financial information about industry segments can be found in ) Tj ET Q
BT /F4 11.00 Tf ET
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BT /F2 11.00 Tf ET
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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 115.68 105.40 Td (s lar) Tj ET Q
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
q 0 0 0 rg BT 473.89 105.40 Td (fect the magnitude ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 92.20 Td (of our advertising revenues. Both national media and local media revenues and operating results can be af) Tj ET Q
q 0 0 0 rg BT 515.61 92.20 Td (fected by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 79.00 Td (changes in the demand for advertising and consumer demand for our products. Magazine circulation revenues are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 65.80 Td (generally af) Tj ET Q
q 0 0 0 rg BT 102.02 65.80 Td (fected by national and regional economic conditions and competition from other forms of media) Tj ET Q
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q 0 0 0 rg BT 55.95 741.40 Td (elevision advertising is seasonal and cyclical to some extent, traditionally generating higher revenues in the second ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (and fourth fiscal quarters and during key political contests and major sporting events.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (BUSINESS DEVELOPMENTS) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (In July 2017, we sold a 70 percent interest in Charleston ) Tj ET Q
q 0 0 0 rg BT 300.30 675.40 Td (T) Tj ET Q
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q 0 0 0 rg BT 513.02 675.40 Td (ennis ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (Center) Tj ET Q
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q 0 0 0 rg BT 468.17 662.20 Td (ennis LLC.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (In July 2018, Real Simple launched the Real Simple Shop, an online shopping site that builds on the brand's digital ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (and licensing momentum. ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (range of Real Simple branded products, in addition to hundreds of curated items for every aspect of the home life-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (decorating, cleaning and or) Tj ET Q
q 0 0 0 rg BT 169.53 596.20 Td (ganizing, cooking, skincare and fashion, and more. ) Tj ET Q
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q 0 0 0 rg BT 450.77 596.20 Td (, the shop is filled with ) 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 305.49 556.60 Td (ge Cooking Light magazine with EatingW) Tj ET Q
q 0 0 0 rg BT 491.26 556.60 Td (ell to create the ) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 132.49 530.20 Td (ell launched with the January/February 2019 issue with a circulation rate base of 1.775 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (On October�31, 2018, the Company closed on the sale of 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 50.00 477.40 Td (business continuity services to the buyers and entered into multi-year agreements to provide services such as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (consumer marketing, subscription fulfillment, paper purchasing, and prin) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 371.98 464.20 Td (ting.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (On February�28, 2019, Meredith acquired 100 percent of the membership interests in Linfield Media, LLC, a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (marketing business focused on online savings and deals.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (In March 2019, Meredith was a key partner in the launch of ) Tj ET Q
q 0 0 0 rg BT 314.83 398.20 Td (Apple News+, a new digital subscription service that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (of) Tj ET Q
q 0 0 0 rg BT 58.96 385.00 Td (fers 30 Meredith magazines among more than 300 popular titles, leading newspapers, and digital publishers.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (In May 2019, the Company completed the first step of a two-step transaction to sell our Sports Illustrated \(SI\) ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (business. ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (agreement to license back rights under the SI brand to continue publishing activities associated with SI. ) Tj ET Q
q 0 0 0 rg BT 507.71 332.20 Td (The second ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (step of the transaction to complete the sale of the SI brand is expected to close in the first quarter of fiscal 2020.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (During fiscal 2019, Meredith debuted redesigns of several of our subscription magazines. ) Tj ET Q
q 0 0 0 rg BT 446.31 292.60 Td (The September 2018 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (issue of Family Circle featured a new logo, updated cover design, photography that captures real life, and a new ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (content structure. ) Tj ET Q
q 0 0 0 rg BT 128.91 266.20 Td (The January/February 2019 issue of Health Magazine marked the debut of an updated design with ) Tj ET Q
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q 0 0 0 rg BT 50.00 253.00 Td (a cleaner look and bolder typography) Tj ET Q
q 0 0 0 rg BT 213.31 253.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (Meredith and Fear Free, LLC, a veterinary) Tj ET Q
q 0 0 0 rg BT 236.82 226.60 Td (, pet professional, and pet owner education company) Tj ET Q
q 0 0 0 rg BT 467.95 226.60 Td (, have come together ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (to introduce Happy Paws magazine, a guide to your dog and cat's best life. ) Tj ET Q
q 0 0 0 rg BT 380.47 213.40 Td (The first issue debuted in ) Tj ET Q
q 0 0 0 rg BT 493.81 213.40 Td (April 2019.) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 173.10 107.80 Td (73 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 219.22 107.80 Td ( of Meredith�) Tj ET Q
q 0 0 0 rg BT 277.26 107.80 Td (s consolidated revenues and ) 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 345.68 94.60 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 89.71 107.20 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
q 0 0 0 rg BT 50.00 94.00 Td (marketing capabilities, which provide clients and their agencies with access to all of Meredith�) Tj ET Q
q 0 0 0 rg BT 466.03 94.00 Td (s media platforms ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 80.80 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 67.60 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
q 0 0 0 rg BT 50.00 54.40 Td (client�) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (The rates at which we sell print advertising depend on each magazine�) Tj ET Q
q 0 0 0 rg BT 358.80 741.40 Td (s rate base, which is the circulation of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (magazine that we guarantee to our advertisers, as well as our audience size. If we are not able to meet our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (committed rate base, the price paid by advertisers is generally subject to downward adjustments, including in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (form of future credits or discounts. Our published rates for each of our magazines are subject to negotiation with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (each of our advertisers. ) Tj ET Q
q 0 0 0 rg BT 155.17 688.60 Td (W) Tj ET Q
q 0 0 0 rg BT 164.67 688.60 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 50.00 675.40 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
q 0 0 0 rg BT 50.00 662.20 Td (access to our major events. CPM deals are sold on an impression basis with a guarantee that we will deliver the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (negotiated volume commitment. If we are not able to meet the impression goal, we will extend the campaign or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (provide alternative placements.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (Magazine Cir) Tj ET Q
q 0 0 0 rg BT 114.25 609.40 Td (culation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 152.15 609.40 Td (�Most of our U.S. magazines are sold primarily by subscription and delivered to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (subscribers through the mail. Subscriptions obtained through direct-mail solicitation, agencies, insert cards, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (internet, and other means are Meredith�) Tj ET Q
q 0 0 0 rg BT 223.49 583.00 Td (s lar) Tj ET Q
q 0 0 0 rg BT 241.92 583.00 Td (gest source of circulation revenues. Revenue per subscription and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (related expenses can vary significantly by source. ) Tj ET Q
q 0 0 0 rg BT 270.94 569.80 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 50.00 556.60 Td (copy) Tj ET Q
q 0 0 0 rg BT 70.67 556.60 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 50.00 543.40 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 50.00 517.00 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 50.00 503.80 Td (pharmacies and other retail outlets. ) Tj ET Q
q 0 0 0 rg BT 206.80 503.80 Td (W) Tj ET Q
q 0 0 0 rg BT 216.30 503.80 Td (e also publish branded books, including soft-cover �bookazines.� ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 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 526.31 490.60 Td (W) Tj ET Q
q 0 0 0 rg BT 535.81 490.60 Td (e ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 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 50.00 464.20 Td (biographical books. ) Tj ET Q
q 0 0 0 rg BT 139.31 464.20 Td (W) Tj ET Q
q 0 0 0 rg BT 148.81 464.20 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 50.00 451.00 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 50.00 437.80 Td (brands as well as licensed third-party brands.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (Digital and Mobile Media) Tj ET Q
BT /F2 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 59.50 398.20 Td (e have 31 of our titles available as digital editions, with an audience of approximately 1.85 million. Digital ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (subscriptions and single copy sales collectively represent 4.5 percent of our total rate base.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (National media�) Tj ET Q
q 0 0 0 rg BT 120.56 358.60 Td (s more than 60 websites provide ideas and inspiration. ) Tj ET Q
q 0 0 0 rg BT 361.70 358.60 Td (These branded websites focus on the topics ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (that women care about most�celebrity) Tj ET Q
q 0 0 0 rg BT 222.78 345.40 Td (, entertainment, food, home, entertaining, and meeting the needs of moms�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (and on delivering powerful content geared toward lifestyle topics such as health, beauty) Tj ET Q
q 0 0 0 rg BT 435.69 332.20 Td (, style, and wellness. Our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (Allrecipes brand has 3 omni-channel sites serving 4 countries in 2 languages, one app across multiple platforms, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (and one Skill for ) Tj ET Q
q 0 0 0 rg BT 125.77 305.80 Td (Amazon ) Tj ET Q
q 0 0 0 rg BT 165.18 305.80 Td (Alexa. Fiscal 2019 digital traf) Tj ET Q
q 0 0 0 rg BT 296.64 305.80 Td (fic across our various platforms averaged more than 150 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (million unique monthly visitors. Our brands have a strong social networking presence as well. In fiscal 2019, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (national media reached 94 million Facebook fans, 55 million ) Tj ET Q
q 0 0 0 rg BT 320.46 279.40 Td (T) Tj ET Q
q 0 0 0 rg BT 326.41 279.40 Td (witter followers, 40 million Instagram followers, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (over 12 million Pinterest followers, and nearly 8 million ) Tj ET Q
q 0 0 0 rg BT 300.10 266.20 Td (Y) Tj ET Q
q 0 0 0 rg BT 306.95 266.20 Td (ouT) Tj ET Q
q 0 0 0 rg BT 324.28 266.20 Td (ube subscribers.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (Other Sources of Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 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 50.00 213.40 Td (brand licensing agreements, and ancillary products and services.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (Affinity Marketing) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 139.51 187.00 Td (�Synapse Group, Inc., a wholly-owned subsidiary of Meredith, is an af) Tj ET Q
q 0 0 0 rg BT 457.03 187.00 Td (finity marketing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (company that partners with publishers, brick and mortar retailers, digital partners, airline frequent flier programs, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (and customer service and direct response call centers. It is a major marketer of magazine subscriptions in the U.S. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (Building on its continuity marketing expertise, Synapse has diversified its business to also market other products ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (and services. For example, Synapse manages several branded continuity membership programs and is developing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (continuity programs for product partners.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (Brand Licensing) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.93 94.60 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 81.40 Td (agreements with retailers, manufacturers, publishers, and service providers. Our licensing programs extend the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (reach of Meredith brands into additional consumer channels in the U.S. and abroad. Currently the world�) Tj ET Q
q 0 0 0 rg BT 510.65 68.20 Td (s second ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 Td (lar) Tj ET Q
q 0 0 0 rg BT 61.40 55.00 Td (gest global licensor) Tj ET Q
q 0 0 0 rg BT 146.50 55.00 Td (, Meredith has direct-to-retail partnerships with leading companies including Better Homes & ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (Gardens at ) Tj ET Q
q 0 0 0 rg BT 99.89 741.40 Td (W) Tj ET Q
q 0 0 0 rg BT 109.39 741.40 Td (almart, Southern Living at Dillard�) Tj ET Q
q 0 0 0 rg BT 262.44 741.40 Td (s, Real Simple at Bed Bath & Beyond and ) Tj ET Q
q 0 0 0 rg BT 450.44 741.40 Td (TJ Maxx, and InStyle-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (branded hair salons at more than 275 JC Penney stores.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (Our lar) Tj ET Q
q 0 0 0 rg BT 81.26 701.80 Td (gest partnership is Better Homes & Gardens-branded products sold at ) Tj ET Q
q 0 0 0 rg BT 389.60 701.80 Td (W) Tj ET Q
q 0 0 0 rg BT 399.10 701.80 Td (almart stores in the U.S. and at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 688.60 Td (almart.com. ) Tj ET Q
q 0 0 0 rg BT 114.59 688.60 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 550.34 688.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 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 50.00 662.20 Td (brand to Realogy Corporation, which is entering its 1) Tj ET Q
q 0 0 0 rg BT 283.91 662.20 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
BT /F2 7.15 Tf ET
q 0 0 0 rg BT 289.41 667.18 Td (th) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 294.97 662.20 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 50.00 649.00 Td (as Better Homes and Gardens Real Estate, LLC. ) Tj ET Q
q 0 0 0 rg BT 264.85 649.00 Td (The real estate network now includes more than 350 of) Tj ET Q
q 0 0 0 rg BT 506.88 649.00 Td (fices and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (more than 12,000 real estate professionals across the U.S., Canada, Bahamas, Jamaica, and ) Tj ET Q
q 0 0 0 rg BT 452.60 635.80 Td (Australia. ) Tj ET Q
q 0 0 0 rg BT 497.81 635.80 Td (Also, in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (real estate sector) Tj ET Q
q 0 0 0 rg BT 122.85 622.60 Td (, the Southern Living and Coastal Living brands include networks for 23 Hotel Collection ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (members, 20 inspired residential communities, and more than 45 interior design professionals.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (The EatingW) Tj ET Q
q 0 0 0 rg BT 108.07 583.00 Td (ell branded line of healthy frozen foods entr�es manufactured and distributed by Bellisio Foods Inc. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (includes up to 12 frozen entr�es and 2 breakfast items to select from at more than 17,000 regional and national ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (grocery locations.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 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 50.00 517.00 Td (5,000 independent garden centers; Southern Living and Real Simple with 1800 FLOWERS; plus sunglasses ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (designed for women under the Shape brand through a partnership with FGX International.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (The Company expands its international reach primarily through international licensing agreements. Meredith�) Tj ET Q
q 0 0 0 rg BT 532.64 477.40 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 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 50.00 451.00 Td (30 countries such as ) Tj ET Q
q 0 0 0 rg BT 141.04 451.00 Td (Australia, China, India, Mexico, Russia, and ) Tj ET Q
q 0 0 0 rg BT 339.11 451.00 Td (T) Tj ET Q
q 0 0 0 rg BT 345.44 451.00 Td (urkey in print and digitally) Tj ET Q
q 0 0 0 rg BT 462.65 451.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 467.95 451.00 Td (The Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 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 50.00 424.60 Td (reach and vitality of our brands.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 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 491.53 398.20 Td (-leading ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (brands, including the powerful Better Homes & Gardens imprint, to a book publisher) Tj ET Q
q 0 0 0 rg BT 423.93 385.00 Td (. Meredith creates book ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 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 50.00 358.60 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 50.00 345.40 Td (subject to a guaranteed minimum.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (The Foundry) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 112.04 319.00 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 530.34 319.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 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 50.00 292.60 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 50.00 279.40 Td (relationships with existing customers.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (Production and Delivery) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (Paper) Tj ET Q
q 0 0 0 rg BT 74.60 239.80 Td (, printing, and postage costs accounted for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 263.08 239.80 Td (20 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.20 239.80 Td ( of the national media segment�) Tj ET Q
q 0 0 0 rg BT 447.57 239.80 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 454.60 239.80 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 503.18 239.80 Td ( operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (expenses. Coated and supercalendered publication paper is the major raw material essential to the national media ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (segment. ) Tj ET Q
q 0 0 0 rg BT 91.96 213.40 Td (W) Tj ET Q
q 0 0 0 rg BT 101.46 213.40 Td (e directly purchase all the paper for our magazine production and custom publishing business. ) Tj ET Q
q 0 0 0 rg BT 517.62 213.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (Company has contractual agreements with major paper manufacturers to ensure adequate supplies for planned ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (publishing requirements. ) Tj ET Q
q 0 0 0 rg BT 161.92 187.00 Td (The price of paper is driven by overall market conditions and is therefore dif) Tj ET Q
q 0 0 0 rg BT 498.63 187.00 Td (ficult to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (predict. In fiscal 2019, average paper prices increased 10 percent. Paper prices decreased 1 percent in fiscal 2018 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (and decreased 5 percent in fiscal 2017. Management anticipates slight decreases in paper prices in fiscal 2020.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 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 50.00 107.80 Td (Postage is a significant expense of the national media segment. ) Tj ET Q
q 0 0 0 rg BT 329.92 107.80 Td (W) Tj ET Q
q 0 0 0 rg BT 339.42 107.80 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 94.60 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 94.60 Td (fective methods for mail delivery) Tj ET Q
q 0 0 0 rg BT 204.25 94.60 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 81.40 Td (of) Tj ET Q
q 0 0 0 rg BT 58.96 81.40 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 81.40 Td (s postage costs, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 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 68.20 Td (The Governors of the United ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 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 55.00 Td (. In ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 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 50.00 728.20 Td (The most recent rate change was an increase of approximately 2.5 percent ef) Tj ET Q
q 0 0 0 rg BT 386.67 728.20 Td (fective January 2019. Except for fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (2016, postage prices have risen in each of Meredith�) Tj ET Q
q 0 0 0 rg BT 280.01 715.00 Td (s last five fiscal years. In fiscal 2016, we saw a rare reduction in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (postage prices due to a roll-back of the temporary 4.3 percent exigent increase implemented in January 2014. ) Tj ET Q
q 0 0 0 rg BT 532.71 701.80 Td (While ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (we expect postage prices to again increase in January 2020, an ongoing legislatively mandated review of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (existing law by the Postal Regulatory Commission could potentially result in adjustments to the current rate setting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (regime. ) Tj ET Q
q 0 0 0 rg BT 85.84 662.20 Td (The impact of any such change could be ef) Tj ET Q
q 0 0 0 rg BT 274.40 662.20 Td (fective as early as the first quarter of calendar 2020. Meredith ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 509.26 649.00 Td (ficiencies ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 161.28 635.80 Td (W) Tj ET Q
q 0 0 0 rg BT 170.78 635.80 Td (e cannot, however) Tj ET Q
q 0 0 0 rg BT 250.66 635.80 Td (, predict future changes in the postal rates or the impact they will have ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (on our national media business.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 601.40 Td (Subscription fulfillment services for Meredith's national media brands are provided by third parties. National ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 9.00 Tf ET
q 0 0 0 rg BT 346.35 427.96 Td (July 2022) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 424.50 427.96 Td (10) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 462.85 427.96 Td (April 2021) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 528.00 427.96 Td (6.4 %) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 414.76 Td (Mobile, ) Tj ET Q
q 0 0 0 rg BT 83.25 414.76 Td (AL) Tj ET Q
BT /F2 9.00 Tf ET
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BT /F1 9.00 Tf ET
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BT /F2 9.00 Tf ET
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BT /F2 9.00 Tf ET
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BT /F2 9.00 Tf ET
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BT /F2 9.00 Tf ET
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BT /F2 9.00 Tf ET
q 0 0 0 rg BT 426.75 379.96 Td (5) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 457.85 379.96 Td (October 2021) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 525.75 379.96 Td (13.1 %) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 366.76 Td (Flint, MI) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 353.76 Td (Saginaw) Tj ET Q
q 0 0 0 rg BT 83.70 353.76 Td (, MI) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 340.76 Td (Bay City) Tj ET Q
q 0 0 0 rg BT 84.96 340.76 Td (, MI) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 53.00 318.95 Td (WGGB-TV) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 134.25 318.96 Td (108) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 185.70 318.96 Td (ABC) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 233.35 318.96 Td (westernmassnews.com) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 335.35 318.96 Td (December 2019) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 424.50 318.96 Td (40) Tj ET Q
BT /F2 9.00 Tf ET
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BT /F2 9.00 Tf ET
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BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 305.76 Td (Springfield, MA) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 185.95 305.76 Td (FOX) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 346.35 305.76 Td (July 2022) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 421.10 305.76 Td (40.2) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 528.00 305.76 Td (2.7 %) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 292.76 Td (Holyoke, MA) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 53.00 270.95 Td (WSHM-LD) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 134.25 270.96 Td (108) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 186.45 270.96 Td (CBS) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 233.35 270.96 Td (westernmassnews.com) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 345.60 270.96 Td (June 2020) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 426.75 270.96 Td (3) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 462.85 270.96 Td (April 2023) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 528.00 270.96 Td (4.6 %) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 257.76 Td (Springfield, MA) Tj ET Q
BT /F2 9.00 Tf ET
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BT /F4 8.00 Tf ET
BT /F4 5.20 Tf ET
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BT /F4 8.00 Tf ET
BT /F4 5.20 Tf ET
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BT /F4 8.00 Tf ET
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q 0 0 0 rg BT 65.24 181.45 Td (verage audience shar) Tj ET Q
q 0 0 0 rg BT 133.81 181.45 Td (e r) Tj ET Q
q 0 0 0 rg BT 142.18 181.45 Td (epr) Tj ET Q
q 0 0 0 rg BT 152.55 181.45 Td (esents the estimated per) Tj ET Q
q 0 0 0 rg BT 228.90 181.45 Td (centage of households using television tuned to the station in the DMA. The per) Tj ET Q
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q 0 0 0 rg BT 538.49 181.45 Td (eflect) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 53.00 173.45 Td ( the average total day shar) Tj ET Q
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q 0 0 0 rg BT 433.46 173.45 Td (ement periods.) Tj ET Q
BT /F2 10.00 Tf ET
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 144.80 Td (Operations) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 131.60 Td (The principal sources of the local media segment�) Tj ET Q
q 0 0 0 rg BT 269.01 131.60 Td (s revenues are: 1\) retransmission of our television signals by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 118.40 Td (cable, satellite, telecommunications, and over) Tj ET Q
q 0 0 0 rg BT 250.45 118.40 Td (-the-top service providers; 2\) local non-political advertising focusing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 105.20 Td (on the immediate geographic area of the stations; 3\) national non-political advertising; 4\) political advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 92.00 Td (which is cyclical with peaks occurring in our odd numbered fiscal years \(e.g., fiscal 2017, fiscal 2019\) and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 78.80 Td (particularly in our second fiscal quarter of those fiscal years; 5\) geographic and demographic-tar) Tj ET Q
q 0 0 0 rg BT 474.05 78.80 Td (geted digital and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 65.60 Td (print advertising programs sold to third parties; and 6\) digital advertising on the stations�) Tj ET Q
q 0 0 0 rg BT 439.92 65.60 Td ( websites, mobile-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 52.40 Td (optimized websites, and apps.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 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 50.00 728.20 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 50.00 715.00 Td (audience ratings and demographics. Generally) Tj ET Q
q 0 0 0 rg BT 253.01 715.00 Td (, the lar) Tj ET Q
q 0 0 0 rg BT 286.10 715.00 Td (ger a station�) Tj ET Q
q 0 0 0 rg BT 342.92 715.00 Td (s audience in any particular daypart or program, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (the higher the advertising rates it can command. ) Tj ET Q
q 0 0 0 rg BT 263.52 701.80 Td (As supply and demand fluctuate in the market, so do a station�) Tj ET Q
q 0 0 0 rg BT 537.85 701.80 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (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 50.00 675.40 Td (advertising is sold by the sales staf) Tj ET Q
q 0 0 0 rg BT 202.56 675.40 Td (f at each station.) 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 (ypically 40 to 50 percent of a market�) Tj ET Q
q 0 0 0 rg BT 221.20 649.00 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 50.00 635.80 Td (are continually working to increase the number of newscasts and additionally grow their news ratings which in turn ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (increase advertising revenues.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 596.20 Td (s 16 national network af) Tj ET Q
q 0 0 0 rg BT 199.48 596.20 Td (filiations at our television stations also influence advertising rates. ) Tj ET Q
q 0 0 0 rg BT 492.75 596.20 Td (A) Tj ET Q
q 0 0 0 rg BT 500.09 596.20 Td ( network ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (af) Tj ET Q
q 0 0 0 rg BT 58.35 583.00 Td (filiation agreement provides a station the exclusive right to broadcast network programming in its local service ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (area. In return, the network has the right to sell most of the commercial advertising aired during network programs ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (and receives programming fees from the station.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (Retransmission consent revenue is generated from cable, satellite, telecommunications, and over) Tj ET Q
q 0 0 0 rg BT 474.67 530.20 Td (-the-top service ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 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 50.00 503.80 Td (char) Tj ET Q
q 0 0 0 rg BT 68.73 503.80 Td (ge their subscribers for this programming. ) Tj ET Q
q 0 0 0 rg BT 256.41 503.80 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 50.00 490.60 Td (due to renegotiations of expiring contracts and negotiated rate increases on existing contracts ef) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (year) Tj ET Q
q 0 0 0 rg BT 68.32 477.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (Programming fees paid to the networks are, in essence, a portion of those retransmission consent fees. ) 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 50.00 424.60 Td (expired contracts.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (Stations sometimes also pay networks for certain programming and services such as marquee sports \(professional ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (football, college basketball, and Olympics\) and news services. ) Tj ET Q
q 0 0 0 rg BT 326.86 385.00 Td (While Meredith�) Tj ET Q
q 0 0 0 rg BT 399.86 385.00 Td (s relations with the networks ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 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 50.00 345.40 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 50.00 332.20 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 50.00 319.00 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 50.00 305.80 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 50.00 292.60 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 521.46 292.60 Td (, nine ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (carry COZI ) Tj ET Q
q 0 0 0 rg BT 103.56 279.40 Td (TV) Tj ET Q
q 0 0 0 rg BT 116.80 279.40 Td (, six broadcast the Escape network, three air the Bounce network, and four air the LAFF network.) Tj ET Q
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q 0 0 0 rg BT 50.00 253.00 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 50.00 239.80 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 50.00 226.60 Td (programming. ) Tj ET Q
q 0 0 0 rg BT 115.18 226.60 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 50.00 213.40 Td (control content and costs and to attract advertisers. Syndicated programming costs are based lar) Tj ET Q
q 0 0 0 rg BT 470.11 213.40 Td (gely on demand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (from stations in the market and can fluctuate significantly) Tj ET Q
q 0 0 0 rg BT 303.43 200.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (Local media�) Tj ET Q
q 0 0 0 rg BT 107.72 173.80 Td (s operations also include MNI ) Tj ET Q
q 0 0 0 rg BT 242.86 173.80 Td (T) Tj ET Q
q 0 0 0 rg BT 248.81 173.80 Td (ar) Tj ET Q
q 0 0 0 rg BT 257.16 173.80 Td (geted Media \(MNI\). ) Tj ET Q
q 0 0 0 rg BT 348.60 173.80 Td (Through MNI, we provide clients with a single ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (point of contact for a range of tar) Tj ET Q
q 0 0 0 rg BT 195.49 160.60 Td (geted digital and print advertising programs primarily on a local and regional level. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (Digital products include programmatic of) Tj ET Q
q 0 0 0 rg BT 232.47 147.40 Td (ferings and custom display advertising on local and national websites. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (Print products include customized geographic and demographic-tar) Tj ET Q
q 0 0 0 rg BT 345.49 134.20 Td (geted advertising programs in approximately 35 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (top U.S. magazines, including our own national media magazines and those of other leading magazine publishers.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (Competition) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 81.40 Td (s television stations compete directly for advertising dollars and programming in their respective markets ) Tj ET Q
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q 0 0 0 rg BT 50.00 68.20 Td (with other local television stations, radio stations, and cable/satellite systems. ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 Td (these media competitors�) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (providers, such as newspapers, outdoor) Tj ET Q
q 0 0 0 rg BT 222.47 741.40 Td (, local magazines, direct mail and their related websites and apps, are also ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (competitors. ) Tj ET Q
q 0 0 0 rg BT 106.83 728.20 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 50.00 715.00 Td (advertising rates, whether local, network, or syndicated, when making advertising decisions.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (Regulation) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 526.76 675.40 Td (, are ) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 467.12 622.60 Td ( locations and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (operating parameters; issues, renews, revokes, and modifies station licenses; regulates and limits changes 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
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 341.44 478.60 Td (Act and FCC rules and policies and knows of no ) 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 50.00 427.00 Td (ownership of one or more television stations in a market. ) 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 96.25 400.60 Td (W) Tj ET Q
q 0 0 0 rg BT 105.75 400.60 Td (e cannot predict the impact of any of these developments on our business.) Tj ET Q
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q 0 0 0 rg BT 147.16 375.40 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 50.00 362.20 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 50.00 349.00 Td (specified portion of their channel capacity to the carriage of the signals of local television stations that elect to ) Tj ET Q
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q 0 0 0 rg BT 232.35 335.80 Td (Alternatively) Tj ET Q
q 0 0 0 rg BT 289.67 335.80 Td (, television stations may elect to restrict cable systems 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
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 269.80 Td (carriage are subject to further review by the FCC and possible actions by Congress. ) Tj ET Q
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q 0 0 0 rg BT 429.23 269.80 Td (e cannot predict the impact 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
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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 50.00 113.80 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
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 87.40 Td (change their facilities as part of this �repacking� process. Several of our stations are among the hundreds of stations ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 74.20 Td (selected for repacking of the television band. ) Tj ET Q
q 0 0 0 rg BT 249.76 74.20 Td (All of our stations selected for repacking have moved or are expected ) 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 302.12 728.20 Td (fect the Company or our television stations.) 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 113.34 663.40 Td (fect the ability of the Company to acquire additional stations. In addition to the matters noted above, ) 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 161.89 532.60 Td (e cannot predict whether or how this process will ultimately af) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 220.79 479.80 Td (The Company) Tj ET Q
q 0 0 0 rg BT 282.70 479.80 Td (, along with other major broadcasters, is subject to a Consent ) 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 226.75 440.20 Td (. ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 427.00 Td (af) Tj ET Q
q 0 0 0 rg BT 58.35 427.00 Td (fect the broadcast industry) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 278.50 464.20 Td (The content of our website is not incorporated by reference into ) Tj ET Q
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q 0 0 0 rg BT 106.34 187.00 Td (W) Tj ET Q
q 0 0 0 rg BT 115.84 187.00 Td (e have tried, where possible, to identify such statements by using words such as ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 468.99 187.00 Td (believe) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.13 187.00 Td (, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 505.63 187.00 Td (expect) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 533.72 187.00 Td (, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (intend) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 77.49 173.80 Td (, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 82.99 173.80 Td (estimate) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 119.65 173.80 Td (, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 125.15 173.80 Td (may) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 143.48 173.80 Td (, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 148.98 173.80 Td (anticipate) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 192.97 173.80 Td (, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 198.47 173.80 Td (will) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 214.97 173.80 Td (, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 220.47 173.80 Td (likely) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 244.29 173.80 Td (, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 249.79 173.80 Td (pr) Tj ET Q
q 0 0 0 rg BT 259.16 173.80 Td (oject) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 280.54 173.80 Td (, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 286.04 173.80 Td (plan) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.59 173.80 Td (, and similar expressions in connection with any ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (discussion of future operating or financial performance. ) Tj ET Q
q 0 0 0 rg BT 297.41 160.60 Td (Any forward-looking statements are and will be based upon ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (our then-current expectations, estimates, and assumptions regarding future events and are applicable only as of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (dates of such statements. Readers are cautioned not to place undue reliance on such forward-looking statements that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (are part of this filing; actual results may dif) Tj ET Q
q 0 0 0 rg BT 240.41 121.00 Td (fer materially from those currently anticipated. ) Tj ET Q
q 0 0 0 rg BT 448.82 121.00 Td (The Company undertakes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (no obligation to update or revise any forward-looking statements, whether as a result of new information, future ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 142.08 741.60 Td (ACT) Tj ET Q
q 0 0 0 rg BT 165.11 741.60 Td (ORS) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (In addition to the other information contained or incorporated by reference into this Form�10-K, investors should ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td (consider carefully the following risk factors when investing in our securities. In addition to the risks described ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (below) Tj ET Q
q 0 0 0 rg BT 76.17 675.60 Td (, there may be additional risks that we have not yet perceived or that we currently believe are immaterial.) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 149.62 649.20 Td (Acquisition of ) Tj ET Q
q 0 0 0 rg BT 217.87 649.20 Td (T) Tj ET Q
q 0 0 0 rg BT 225.01 649.20 Td (ime) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (W) Tj ET Q
q 0 0 0 rg BT 60.39 622.80 Td (e identified material weaknesses in our) Tj ET Q
q 0 0 0 rg BT 241.98 622.80 Td ( internal contr) Tj ET Q
q 0 0 0 rg BT 309.61 622.80 Td (ol over) Tj ET Q
q 0 0 0 rg BT 341.48 622.80 Td ( financial r) Tj ET Q
q 0 0 0 rg BT 392.61 622.80 Td (eporting.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.08 622.80 Td ( ) Tj ET Q
q 0 0 0 rg BT 437.22 622.80 Td (As described in ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 508.40 622.80 Td (Item�9A) Tj ET Q
q 0 0 0 rg BT 542.72 622.80 Td ( - ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (Contr) Tj ET Q
q 0 0 0 rg BT 75.27 609.60 Td (ols and Pr) Tj ET Q
q 0 0 0 rg BT 120.69 609.60 Td (ocedur) Tj ET Q
q 0 0 0 rg BT 150.83 609.60 Td (es) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.99 609.60 Td ( of this report, during fiscal 2019 the Company determined that deficiencies existed in the ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 95.83 596.40 Td (s internal control over financial reporting. ) Tj ET Q
q 0 0 0 rg BT 281.85 596.40 Td (As a result of these deficiencies, management concluded that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.20 Td (we had material weaknesses in our internal control over financial reporting as of June�30, 2019. ) Tj ET Q
q 0 0 0 rg BT 472.76 583.20 Td (A) Tj ET Q
q 0 0 0 rg BT 480.10 583.20 Td ( material ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 157.71 570.00 Td (, or a combination of deficiencies, in internal control over financial reporting, such that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.80 Td (there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (will not be prevented or detected on a timely basis. ) Tj ET Q
q 0 0 0 rg BT 276.35 543.60 Td (A) Tj ET Q
q 0 0 0 rg BT 283.69 543.60 Td ( control deficiency exists when the design or operation of 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 50.00 517.20 Td (prevent or detect misstatements on a timely basis.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 492.00 Td (Maintaining ef) Tj ET Q
q 0 0 0 rg BT 114.87 492.00 Td (fective disclosure controls and procedures and ef) Tj ET Q
q 0 0 0 rg BT 329.69 492.00 Td (fective internal control over financial reporting are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 478.80 Td (necessary for us to produce reliable financial statements. ) Tj ET Q
q 0 0 0 rg BT 301.79 478.80 Td (There can be no assurance that other material weaknesses ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 465.60 Td (will not arise in the future. ) Tj ET Q
q 0 0 0 rg BT 169.24 465.60 Td (The development of new material weaknesses in our internal control over financial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 452.40 Td (reporting could result in material misstatements in our consolidated financial statements and cause us to fail to meet ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 439.20 Td (our reporting and financial obligations, which in turn could have a material adverse ef) Tj ET Q
q 0 0 0 rg BT 427.95 439.20 Td (fect on our financial condition ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 426.00 Td (and the trading price of our common stock, and/or result in litigation against us. In addition, even though we have ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 412.80 Td (strengthened our controls and procedures, those controls and procedures may not be adequate to prevent or identify ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 399.60 Td (irregularities or facilitate the fair presentation of our consolidated financial statements or our periodic reports filed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 386.40 Td (with the SEC.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 360.00 Td (The Company�) Tj ET Q
q 0 0 0 rg BT 120.18 360.00 Td (s acquisitions, including our) Tj ET Q
q 0 0 0 rg BT 251.42 360.00 Td ( r) Tj ET Q
q 0 0 0 rg BT 258.85 360.00 Td (ecent acquisition of ) Tj ET Q
q 0 0 0 rg BT 351.84 360.00 Td (T) Tj ET Q
q 0 0 0 rg BT 358.98 360.00 Td (ime, subject us to various risks and may ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 346.80 Td (not r) Tj ET Q
q 0 0 0 rg BT 72.71 346.80 Td (esult in all the cost savings and benefits anticipated, which could adversely affect our) Tj ET Q
q 0 0 0 rg BT 469.13 346.80 Td ( financial ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 333.60 Td (conditions and r) Tj ET Q
q 0 0 0 rg BT 126.21 333.60 Td (esults of operations. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.15 333.60 Td (In January 2018, we completed our acquisition of ) Tj ET Q
q 0 0 0 rg BT 442.81 333.60 Td (T) Tj ET Q
q 0 0 0 rg BT 449.15 333.60 Td (ime. Since that time, we ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 320.40 Td (have performed system conversions and integration procedures. ) Tj ET Q
q 0 0 0 rg BT 333.27 320.40 Td (The Company expects to deliver $565 million of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 307.20 Td (net annual cost syner) Tj ET Q
q 0 0 0 rg BT 142.36 307.20 Td (gies as a result of the integration with approximately $135 million expected to be realized upon ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 294.00 Td (the conclusion of the integration process in the next fiscal year) Tj ET Q
q 0 0 0 rg BT 324.91 294.00 Td (. Even if the operations are integrated successfully) Tj ET Q
q 0 0 0 rg BT 545.95 294.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 280.80 Td (the full benefits, including the syner) Tj ET Q
q 0 0 0 rg BT 208.65 280.80 Td (gies, cost savings, revenue growth, or other benefits that are expected, may not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 267.60 Td (be achieved within the anticipated time frame, or at all, as they are subject to significant business, economic, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 254.40 Td (competitive uncertainties and contingencies, all of which are dif) Tj ET Q
q 0 0 0 rg BT 331.72 254.40 Td (ficult to predict and many of which are beyond our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 241.20 Td (control. ) Tj ET Q
q 0 0 0 rg BT 86.05 241.20 Td (As a result, we cannot provide any assurance that the acquisition of ) Tj ET Q
q 0 0 0 rg BT 384.90 241.20 Td (T) Tj ET Q
q 0 0 0 rg BT 391.23 241.20 Td (ime will result in the realization of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 228.00 Td (full benefits that we anticipate.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 201.60 Td (Significant costs associated with the acquisition have been and will continue to be incurr) Tj ET Q
q 0 0 0 rg BT 462.63 201.60 Td (ed. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.13 201.60 Td (W) Tj ET Q
q 0 0 0 rg BT 488.63 201.60 Td (e have incurred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 188.40 Td (and continue to incur substantial expenses as we complete the integration of ) Tj ET Q
q 0 0 0 rg BT 387.04 188.40 Td (T) Tj ET Q
q 0 0 0 rg BT 393.37 188.40 Td (ime including expenses in connection ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 175.20 Td (with coordinating the businesses, operations, policies, and procedures. ) Tj ET Q
q 0 0 0 rg BT 362.01 175.20 Td (These expenses include expenses associated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 162.00 Td (with achieving syner) Tj ET Q
q 0 0 0 rg BT 141.44 162.00 Td (gies, indebtedness that we incurred as of result of the acquisition, unexpected delays and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 148.80 Td (challenges of the integration, additional investment costs to grow the business, and employee related expenses for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 135.60 Td (those employees retained longer than anticipated to complete the final integration. ) Tj ET Q
q 0 0 0 rg BT 413.90 135.60 Td (While we have assumed that a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 122.40 Td (certain level of integration expenses will be incurred, factors beyond our control could af) Tj ET Q
q 0 0 0 rg BT 441.38 122.40 Td (fect the total amount or the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 109.20 Td (timing of these expenses. Many of the expenses that will be incurred, by their nature, are dif) Tj ET Q
q 0 0 0 rg BT 455.15 109.20 Td (ficult to estimate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 96.00 Td (accurately) Tj ET Q
q 0 0 0 rg BT 94.47 96.00 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 69.60 Td (Our) Tj ET Q
q 0 0 0 rg BT 69.36 69.60 Td ( business could be adversely impacted by the pr) Tj ET Q
q 0 0 0 rg BT 292.23 69.60 Td (oposed divestitur) Tj ET Q
q 0 0 0 rg BT 372.40 69.60 Td (e of our) Tj ET Q
q 0 0 0 rg BT 408.25 69.60 Td ( non-cor) Tj ET Q
q 0 0 0 rg BT 447.46 69.60 Td (e media assets. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 518.95 69.60 Td (As of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 56.40 Td (June�30, 2019, the acquired assets and liabilities from the ) Tj ET Q
q 0 0 0 rg BT 304.57 56.40 Td (T) Tj ET Q
q 0 0 0 rg BT 310.91 56.40 Td (ime acquisition related to FanSided and ) Tj ET Q
q 0 0 0 rg BT 487.89 56.40 Td (V) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (T) Tj ET Q
q 0 0 0 rg BT 55.95 741.40 Td (echnology remain unsold. Significant time and expenses have been and will be incurred to divest these non-core ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (media assets which may adversely af) Tj ET Q
q 0 0 0 rg BT 212.60 728.20 Td (fect operations as dispositions may require our continued financial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (involvement, such as through transition service agreements, guarantees, and indemnities or other current or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (contingent financial obligations and liabilities. ) Tj ET Q
q 0 0 0 rg BT 256.92 701.80 Td (While we continue to actively market these non-core media assets, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (we may not receive an acceptable of) Tj ET Q
q 0 0 0 rg BT 209.82 688.60 Td (fer) Tj ET Q
q 0 0 0 rg BT 221.59 688.60 Td (, or we may not be able to negotiate an acceptable definitive agreement or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (consummate a sale transaction in a timely manner or at all. ) Tj ET Q
q 0 0 0 rg BT 311.27 675.40 Td (W) Tj ET Q
q 0 0 0 rg BT 320.77 675.40 Td (e cannot assure you that we will be successful in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (managing these or any other significant risks that we encounter in divesting our non-core media assets.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (Risks Relating to Indebtedness and Equity) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (Our) Tj ET Q
q 0 0 0 rg BT 69.36 609.40 Td ( substantial level of indebtedness and our) Tj ET Q
q 0 0 0 rg BT 262.30 609.40 Td ( ability to incur) Tj ET Q
q 0 0 0 rg BT 334.52 609.40 Td ( significant additional indebtedness could ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (adversely affect our) Tj ET Q
q 0 0 0 rg BT 142.66 596.20 Td ( business, financial condition, and r) Tj ET Q
q 0 0 0 rg BT 308.42 596.20 Td (esults of operations. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.36 596.20 Td (Our level of indebtedness could ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (have important consequences. For example, it could:) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 556.60 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 556.60 Td (increase our vulnerability to general adverse economic and industry conditions;) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 543.40 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 543.40 Td (limit our ability to obtain additional financing to fund future working capital, capital expenditures, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 530.20 Td (other general corporate requirements or to carry out other aspects of our business;) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 517.00 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 517.00 Td (increase our cost of borrowing;) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 503.80 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 503.80 Td (make it more dif) Tj ET Q
q 0 0 0 rg BT 158.81 503.80 Td (ficult for us to satisfy our obligations with respect to our debt;) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 490.60 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 490.60 Td (require us to dedicate a substantial portion of our cash flow from operations to payments on indebtedness, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 477.40 Td (thereby reducing the availability of such cash flow to fund working capital, capital expenditures, and other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 464.20 Td (general corporate requirements or to carry out other aspects of our business;) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 451.00 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 451.00 Td (limit our ability to make material acquisitions or take advantage of business opportunities that may arise;) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 437.80 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 437.80 Td (expose us to fluctuations in interest rates, to the extent our borrowings bear variable rates of interest;) Tj ET Q
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 (limit our flexibility in planning for) Tj ET Q
q 0 0 0 rg BT 238.01 424.60 Td (, or reacting to, changes in our business and industry;) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 411.40 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 411.40 Td (place us at a potential disadvantage compared to our competitors that have less debt;) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 398.20 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 398.20 Td (af) Tj ET Q
q 0 0 0 rg BT 94.35 398.20 Td (fect our credit ratings; and) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 385.00 Td (� ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 385.00 Td (limit our ability to pay dividends.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (Our ability to make scheduled payments on and to refinance our indebtedness will depend on and be subject to our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (future financial and operating performance, which in turn is af) Tj ET Q
q 0 0 0 rg BT 324.08 345.40 Td (fected by general economic, financial, competitive, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (business, and other factors beyond our control, including the availability of financing in the banking and capital ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (markets. Our business may fail to generate suf) Tj ET Q
q 0 0 0 rg BT 253.85 319.00 Td (ficient cash flow from operations, or we may be unable to borrow ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (funds in an amount suf) Tj ET Q
q 0 0 0 rg BT 150.62 305.80 Td (ficient to enable us to make payments on our debt, to refinance our debt, or to fund our other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (liquidity needs. If we were unable to make payments on or refinance our debt or obtain new financing under these ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (circumstances, we would have to consider other options, such as asset sales, equity issuances, or negotiations with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (our lenders to restructure the applicable debt. ) Tj ET Q
q 0 0 0 rg BT 251.39 266.20 Td (The terms of our debt agreements and market or business conditions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (may limit our ability to take some or all of these actions. In addition, if we incur additional debt, the related risks ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (described above could be exacerbated.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (Our) Tj ET Q
q 0 0 0 rg BT 69.36 213.40 Td ( indebtedness subjects us to inter) 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
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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 87.88 543.60 Td (Advertising related revenues constitute ) 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 308.72 543.60 Td ( of our national media revenues 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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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
1 1 1 rg
/GS0 gs
392.38 445.63 112.40 -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 11.00 Tf ET
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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 /F1 11.00 Tf ET
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q 0 0 0 rg BT 69.36 490.60 Td ( local media operations ar) Tj ET Q
q 0 0 0 rg BT 190.75 490.60 Td (e subject to FCC r) Tj ET Q
q 0 0 0 rg BT 276.70 490.60 Td (egulation. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 325.59 490.60 Td (Our broadcasting stations operate under licenses ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (granted by the FCC. ) Tj ET Q
q 0 0 0 rg BT 141.77 477.40 Td (The FCC regulates many aspects of television station operations including employment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (practices, political advertising, indecency and obscenity) Tj ET Q
q 0 0 0 rg BT 295.17 464.20 Td (, programming, signal carriage, and various other technical ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (matters. ) Tj ET Q
q 0 0 0 rg BT 87.68 451.00 Td (V) Tj ET Q
q 0 0 0 rg BT 94.96 451.00 Td (iolations of these regulations could result in penalties and fines. Changes in these regulations could ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (impact the results of our operations. ) Tj ET Q
q 0 0 0 rg BT 210.79 437.80 Td (The FCC also regulates the ownership of television stations. Changes in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (ownership rules could adversely af) Tj ET Q
q 0 0 0 rg BT 203.14 424.60 Td (fect our ability to consummate future transactions or may favor our competitors. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (Details regarding regulation and its impact on our local media operations are provided in ) Tj ET Q
BT /F4 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.39 411.40 Td ( beginning ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (on page�9.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (Loss of or) Tj ET Q
q 0 0 0 rg BT 96.25 371.80 Td ( changes in affiliation agr) Tj ET Q
q 0 0 0 rg BT 215.21 371.80 Td (eements could adversely affect operating r) Tj ET Q
q 0 0 0 rg BT 413.27 371.80 Td (esults for) Tj ET Q
q 0 0 0 rg BT 456.15 371.80 Td ( our) Tj ET Q
q 0 0 0 rg BT 475.20 371.80 Td ( local media ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (segment) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 464.34 358.60 Td (filiated with a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (network generally have higher ratings than unaf) Tj ET Q
q 0 0 0 rg BT 260.56 345.40 Td (filiated independent stations in the same market. ) Tj ET Q
q 0 0 0 rg BT 475.61 345.40 Td (As a result, it is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (important for stations to maintain their network af) Tj ET Q
q 0 0 0 rg BT 270.05 332.20 Td (filiations. Most of our stations have network af) Tj ET Q
q 0 0 0 rg BT 476.37 332.20 Td (filiation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (agreements. Seven are af) Tj ET Q
q 0 0 0 rg BT 159.74 319.00 Td (filiated with CBS, five with FOX, two with MyNetworkTV) Tj ET Q
q 0 0 0 rg BT 420.48 319.00 Td (, one with NBC, and one with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (ABC. ) Tj ET Q
q 0 0 0 rg BT 77.92 305.80 Td (These television networks produce and distribute programming in exchange for each of our stations�) Tj ET Q
q 0 0 0 rg BT 519.11 305.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (commitment to air the programming at specified times and for commercial announcement time during the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (programming. ) Tj ET Q
q 0 0 0 rg BT 115.18 279.40 Td (W) Tj ET Q
q 0 0 0 rg BT 124.68 279.40 Td (e also make cash payments to the networks. ) Tj ET Q
q 0 0 0 rg BT 319.68 279.40 Td (These payments are in essence a portion of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 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 50.00 253.00 Td (which pay Meredith to carry our television programming in our markets. ) Tj ET Q
q 0 0 0 rg BT 372.38 253.00 Td (These network relationships may also ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (include terms regarding over) Tj ET Q
q 0 0 0 rg BT 176.54 239.80 Td (-the-top distribution. ) Tj ET Q
q 0 0 0 rg BT 270.13 239.80 Td (The non-renewal or termination of any of our network af) Tj ET Q
q 0 0 0 rg BT 520.09 239.80 Td (filiation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (agreements would prevent us from being able to carry programming of the af) Tj ET Q
q 0 0 0 rg BT 389.46 226.60 Td (filiate network. ) Tj ET Q
q 0 0 0 rg BT 459.21 226.60 Td (This loss of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 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
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 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 50.00 173.80 Td (adversely af) Tj ET Q
q 0 0 0 rg BT 103.24 173.80 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 50.00 160.60 Td (local brands. If renewed, our network af) Tj ET Q
q 0 0 0 rg BT 226.34 160.60 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 50.00 147.40 Td (terms that are less favorable to us. Our CBS af) Tj ET Q
q 0 0 0 rg BT 254.47 147.40 Td (filiation agreements expire in June and ) Tj ET Q
q 0 0 0 rg BT 427.36 147.40 Td (August 2020. ) Tj ET Q
q 0 0 0 rg BT 489.19 147.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (MyNetworkTV) Tj ET Q
q 0 0 0 rg BT 118.23 134.20 Td ( af) Tj ET Q
q 0 0 0 rg BT 129.33 134.20 Td (filiation agreements expire in September 2020. Our FOX af) Tj ET Q
q 0 0 0 rg BT 391.53 134.20 Td (filiation agreements expire in July ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (2022. Our ) Tj ET Q
q 0 0 0 rg BT 96.75 121.00 Td (ABC af) Tj ET Q
q 0 0 0 rg BT 130.46 121.00 Td (filiation agreement expires in December 2019 and our NBC af) Tj ET Q
q 0 0 0 rg BT 404.87 121.00 Td (filiation agreement expires in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (December 2021.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (Client r) Tj ET Q
q 0 0 0 rg BT 86.15 81.40 Td (elationships ar) Tj ET Q
q 0 0 0 rg BT 154.71 81.40 Td (e important to our) Tj ET Q
q 0 0 0 rg BT 240.97 81.40 Td ( brand licensing and consumer) Tj ET Q
q 0 0 0 rg BT 385.02 81.40 Td ( r) Tj ET Q
q 0 0 0 rg BT 392.46 81.40 Td (elationship marketing businesses. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (Our ability to maintain existing client relationships and generate new clients depends significantly on the quality of ) Tj ET Q
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q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 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 50.00 728.20 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 69.96 701.80 Td (eases in paper) Tj ET Q
q 0 0 0 rg BT 135.77 701.80 Td ( and postage prices, which ar) Tj ET Q
q 0 0 0 rg BT 271.85 701.80 Td (e difficult to pr) Tj ET Q
q 0 0 0 rg BT 342.22 701.80 Td (edict and contr) Tj ET Q
q 0 0 0 rg BT 412.90 701.80 Td (ol, could adversely affect our) Tj ET Q
q 0 0 0 rg BT 548.04 701.80 Td ( ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (r) Tj ET Q
q 0 0 0 rg BT 54.68 688.60 Td (esults of 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 50.00 675.40 Td (and market our printed products. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 208.54 675.40 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 257.11 675.40 Td (, these expenses accounted for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 393.33 675.40 Td (16 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.45 675.40 Td ( of national media�) Tj ET Q
q 0 0 0 rg BT 522.23 675.40 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 441.22 662.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 446.11 662.20 Td (All our paper supply ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 458.55 649.00 Td (, we historically have ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (been able to realize favorable paper pricing through volume discounts. ) Tj ET Q
q 0 0 0 rg BT 362.88 635.80 Td (The USPS distributes substantially all our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 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 523.87 622.60 Td (ficiency ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (of the USPS and on legislative mandates imposed upon the USPS. ) Tj ET Q
q 0 0 0 rg BT 343.93 609.40 Td (Although we work with others in the industry ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (and through trade or) Tj ET Q
q 0 0 0 rg BT 139.30 596.20 Td (ganizations to encourage the USPS to implement ef) Tj ET Q
q 0 0 0 rg BT 366.08 596.20 Td (ficiencies that will minimize rate increases, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (we cannot predict with certainty the magnitude of future price changes for paper and postage. Further) Tj ET Q
q 0 0 0 rg BT 496.11 583.00 Td (, we may not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (be able to pass such increases on to our customers.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (Acquisitions pose inher) Tj ET Q
q 0 0 0 rg BT 159.21 543.40 Td (ent financial and other) Tj ET Q
q 0 0 0 rg BT 265.65 543.40 Td ( risks and challenges. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.03 543.40 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 50.00 530.20 Td (acquired businesses and we expect to continue acquiring businesses in the future. ) Tj ET Q
q 0 0 0 rg BT 409.95 530.20 Td (These acquisitions can involve a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (number of risks and challenges, any of which could cause significant operating inef) Tj ET Q
q 0 0 0 rg BT 417.27 517.00 Td (ficiencies and adversely af) Tj ET Q
q 0 0 0 rg BT 534.04 517.00 Td (fect ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (our growth and profitability) Tj ET Q
q 0 0 0 rg BT 171.79 503.80 Td (. Such risks and challenges include underperformance relative to our expectations and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (the price paid for the acquisition; unanticipated demands on our management and operational resources; dif) Tj ET Q
q 0 0 0 rg BT 522.64 490.60 Td (ficulty ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (in integrating personnel, operations, and systems; retention of customers of the combined businesses; assumption of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (contingent liabilities; and acquisition-related earnings char) Tj ET Q
q 0 0 0 rg BT 307.91 464.20 Td (ges. If our acquisitions are not successful, we may record ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (impairment char) Tj ET Q
q 0 0 0 rg BT 122.19 451.00 Td (ges. Our ability to continue to make acquisitions will depend upon our success at identifying ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (suitable tar) Tj ET Q
q 0 0 0 rg BT 98.37 437.80 Td (gets, which requires substantial judgment in assessing their values, strengths, weaknesses, liabilities, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (potential profitability) Tj ET Q
q 0 0 0 rg BT 143.07 424.60 Td (, as well as the availability of suitable candidates at acceptable prices and whether restrictions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (are imposed by regulations. Moreover) Tj ET Q
q 0 0 0 rg BT 217.26 411.40 Td (, competition for certain types of acquisitions is significant, particularly in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (fields of broadcast stations and digital media. Even if successfully negotiated, closed, and integrated, certain ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (acquisitions may not advance our business strategy and may fall short of expected return on investment tar) Tj ET Q
q 0 0 0 rg BT 519.00 385.00 Td (gets.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (Impairment of goodwill and intangible assets is possible, depending upon futur) Tj ET Q
q 0 0 0 rg BT 419.29 358.60 Td (e operating r) Tj ET Q
q 0 0 0 rg BT 479.58 358.60 Td (esults and the ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (value of the Company�) Tj ET Q
q 0 0 0 rg BT 156.23 345.40 Td (s stock. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 193.20 345.40 Td (Although the Company wrote down certain of its intangible assets by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.84 345.40 Td ($41.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 560.13 345.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (in fiscal 2019, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 115.38 332.20 Td ($22.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 140.13 332.20 Td ( million in fiscal 2018, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 261.42 332.20 Td ($5.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 280.67 332.20 Td ( million in fiscal 2017, further impairment char) Tj ET Q
q 0 0 0 rg BT 488.19 332.20 Td (ges are possible. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 319.00 Td (e test our goodwill and indefinite-lived intangible assets for impairment during the fourth quarter of every fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (year and on an interim basis if indicators of impairment exist. Factors which influence the evaluation include, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (among many things, the Company�) Tj ET Q
q 0 0 0 rg BT 204.29 292.60 Td (s stock price and expected future operating results. If the carrying value of a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (reporting unit or an intangible asset is no longer deemed to be recoverable, a potentially material non-cash ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (impairment char) Tj ET Q
q 0 0 0 rg BT 122.19 266.20 Td (ge could be incurred. ) Tj ET Q
q 0 0 0 rg BT 217.18 266.20 Td (At ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 230.93 266.20 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.34 266.20 Td (, goodwill and intangible assets totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.17 266.20 Td ($3.8 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 516.90 266.20 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.31 266.20 Td (62 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.37 253.00 Td ( of Meredith�) Tj ET Q
q 0 0 0 rg BT 140.41 253.00 Td (s total assets, with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 223.21 253.00 Td ($2.9 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 273.93 253.00 Td ( in the national media segment and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.03 253.00 Td ($882.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.81 253.00 Td ( in the local ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (media segment. ) Tj ET Q
q 0 0 0 rg BT 121.59 239.80 Td (The review of goodwill is performed at the reporting unit level. ) Tj ET Q
q 0 0 0 rg BT 403.03 239.80 Td (The Company has two reporting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (units � national media and local media. ) Tj ET Q
q 0 0 0 rg BT 225.14 226.60 Td (W) Tj ET Q
q 0 0 0 rg BT 234.64 226.60 Td (e performed our most recent annual goodwill impairment test as of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (May�31, 2019. ) Tj ET Q
q 0 0 0 rg BT 116.71 213.40 Td (The fair value of the national media reporting unit exceeded its net assets by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.15 213.40 Td (16 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.27 213.40 Td (. Qualitative ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (impairment analyses were performed for the local media reporting unit and resulted in no indications of impairment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (and thus, no quantitative assessments were necessary) Tj ET Q
q 0 0 0 rg BT 282.97 187.00 Td (. Changes in key assumptions about the economy or business ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (prospects used to estimate fair value or other changes in market conditions could result in additional impairment ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 68.73 160.60 Td (ges. ) Tj ET Q
q 0 0 0 rg BT 88.29 160.60 Td (Although these char) Tj ET Q
q 0 0 0 rg BT 176.67 160.60 Td (ges would be non-cash in nature and would not af) Tj ET Q
q 0 0 0 rg BT 395.50 160.60 Td (fect the Company�) Tj ET Q
q 0 0 0 rg BT 476.75 160.60 Td (s operations or ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 91.74 147.40 Td (, they would reduce stockholders�) Tj ET Q
q 0 0 0 rg BT 239.69 147.40 Td ( equity and reported results of operations in the period char) Tj ET Q
q 0 0 0 rg BT 499.74 147.40 Td (ged. ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 104.89 134.20 Td (, as goodwill and intangible assets associated with the acquisition of ) Tj ET Q
q 0 0 0 rg BT 407.13 134.20 Td (T) Tj ET Q
q 0 0 0 rg BT 413.47 134.20 Td (ime are recorded on the balance ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (sheet at their estimated acquisition date fair values, those amounts are more susceptible to risk of impairment if ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (business operating results or macroeconomic conditions deteriorate.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (Adverse litigation judgments or) Tj ET Q
q 0 0 0 rg BT 198.60 81.40 Td ( settlements r) Tj ET Q
q 0 0 0 rg BT 261.31 81.40 Td (esulting fr) Tj ET Q
q 0 0 0 rg BT 309.09 81.40 Td (om legal pr) Tj ET Q
q 0 0 0 rg BT 362.04 81.40 Td (oceedings in which we ar) Tj ET Q
q 0 0 0 rg BT 478.56 81.40 Td (e curr) Tj ET Q
q 0 0 0 rg BT 506.76 81.40 Td (ently and ) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 103.58 68.20 Td (e may be involved could expose us to monetary damages or) Tj ET Q
q 0 0 0 rg BT 379.59 68.20 Td ( limit our) Tj ET Q
q 0 0 0 rg BT 423.39 68.20 Td ( ability to operate our) Tj ET Q
q 0 0 0 rg BT 525.23 68.20 Td ( ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 Td (business. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 94.63 55.00 Td (W) Tj ET Q
q 0 0 0 rg BT 104.14 55.00 Td (e are currently involved in and may in the future become involved in private actions, collective actions, ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (agencies, or others. For example, on September�6, 2019, a shareholder filed a putative class action lawsuit in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (U.S. District Court for the Southern District of New ) Tj ET Q
q 0 0 0 rg BT 280.87 715.00 Td (Y) Tj ET Q
q 0 0 0 rg BT 287.71 715.00 Td (ork against the Company) Tj ET Q
q 0 0 0 rg BT 397.28 715.00 Td (, its Chief Executive Of) Tj ET Q
q 0 0 0 rg BT 501.25 715.00 Td (ficer) Tj ET Q
q 0 0 0 rg BT 520.95 715.00 Td (, and its ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (Chief Financial Of) Tj ET Q
q 0 0 0 rg BT 132.28 701.80 Td (ficer) Tj ET Q
q 0 0 0 rg BT 151.99 701.80 Td (, and on September�12, 2019, a shareholder filed a putative class action lawsuit in the U.S. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (District Court for the Southern District of Iowa against the Company) Tj ET Q
q 0 0 0 rg BT 352.34 688.60 Td (, its Chief Executive Of) Tj ET Q
q 0 0 0 rg BT 456.31 688.60 Td (ficer) Tj ET Q
q 0 0 0 rg BT 476.01 688.60 Td (, its Chief ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (Financial Of) Tj ET Q
q 0 0 0 rg BT 105.09 675.40 Td (ficer) Tj ET Q
q 0 0 0 rg BT 124.80 675.40 Td (, and its Chairman of the Board. ) Tj ET Q
q 0 0 0 rg BT 268.49 675.40 Td (The results of any such litigation, including the aforementioned ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (class action lawsuits, investigations, and other legal proceedings are inherently unpredictable and expensive. ) Tj ET Q
q 0 0 0 rg BT 529.57 662.20 Td (Any ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (claims against us, whether meritorious or not, could be time consuming, result in costly litigation, damage our ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (reputation, require significant amounts of management time, and divert significant resources. If any of these legal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (proceedings were to be determined adversely to us, or we were to enter into a settlement arrangement, we could be ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (exposed to monetary damages or limits on our ability to operate our business, which could have an adverse ef) Tj ET Q
q 0 0 0 rg BT 532.14 609.40 Td (fect ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (on our business, financial condition, and operating results.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 571.00 Td (W) Tj ET Q
q 0 0 0 rg BT 60.39 571.00 Td (e have thr) Tj ET Q
q 0 0 0 rg BT 107.24 571.00 Td (ee classes of stock with differ) Tj ET Q
q 0 0 0 rg BT 242.37 571.00 Td (ent voting rights) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 319.37 571.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 324.67 571.00 Td (W) Tj ET Q
q 0 0 0 rg BT 334.17 571.00 Td (e have three classes of stock: Series�) Tj ET Q
q 0 0 0 rg BT 493.31 571.00 Td (A) Tj ET Q
q 0 0 0 rg BT 500.65 571.00 Td ( preferred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 557.80 Td (stock, common stock, and class�B stock. ) Tj ET Q
q 0 0 0 rg BT 230.06 557.80 Td (The Series�) Tj ET Q
q 0 0 0 rg BT 278.93 557.80 Td (A) Tj ET Q
q 0 0 0 rg BT 286.27 557.80 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 50.00 544.60 Td (entitled to one vote per share and account for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 251.28 544.60 Td (44 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 297.40 544.60 Td ( of the voting power) Tj ET Q
q 0 0 0 rg BT 385.99 544.60 Td (. Holders of class�B stock are entitled to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 531.40 Td (ten votes per share and account for the remaining ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.61 531.40 Td (56 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.72 531.40 Td ( of the voting power) Tj ET Q
q 0 0 0 rg BT 404.32 531.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 409.62 531.40 Td (There are restrictions on who can ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 518.20 Td (own class B stock. ) Tj ET Q
q 0 0 0 rg BT 134.43 518.20 Td (The majority of Class�B shares are held by members of Meredith�) Tj ET Q
q 0 0 0 rg BT 423.11 518.20 Td (s founding family) Tj ET Q
q 0 0 0 rg BT 500.61 518.20 Td (. Control by a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 505.00 Td (limited number of holders may make the Company a less attractive takeover tar) Tj ET Q
q 0 0 0 rg BT 399.85 505.00 Td (get, which could adversely af) Tj ET Q
q 0 0 0 rg BT 528.85 505.00 Td (fect the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 491.80 Td (market price of our common stock. ) Tj ET Q
q 0 0 0 rg BT 207.12 491.80 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 50.00 478.60 Td (influence over certain of the Company�) Tj ET Q
q 0 0 0 rg BT 222.57 478.60 Td (s business decisions.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 452.20 Td (Adverse changes in the equity markets or) Tj ET Q
q 0 0 0 rg BT 244.12 452.20 Td ( inter) Tj ET Q
q 0 0 0 rg BT 269.27 452.20 Td (est rates, changes in actuarial assumptions and legislative or) Tj ET Q
q 0 0 0 rg BT 551.10 452.20 Td ( ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 439.00 Td (other) Tj ET Q
q 0 0 0 rg BT 74.85 439.00 Td ( r) Tj ET Q
q 0 0 0 rg BT 82.28 439.00 Td (egulatory actions could substantially incr) Tj ET Q
q 0 0 0 rg BT 275.20 439.00 Td (ease our) Tj ET Q
q 0 0 0 rg BT 313.80 439.00 Td ( United Kingdom \(U.K.\) pension costs and could ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 425.80 Td (r) Tj ET Q
q 0 0 0 rg BT 54.68 425.80 Td (esult in a material adverse effect on our) Tj ET Q
q 0 0 0 rg BT 239.91 425.80 Td ( business, financial condition, and r) Tj ET Q
q 0 0 0 rg BT 405.67 425.80 Td (esults of operations.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 498.87 425.80 Td ( ) Tj ET Q
q 0 0 0 rg BT 501.42 425.80 Td (Through one ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 412.60 Td (of our U.K. subsidiaries acquired with the acquisition of ) Tj ET Q
q 0 0 0 rg BT 300.00 412.60 Td (T) Tj ET Q
q 0 0 0 rg BT 306.33 412.60 Td (ime, the Company sponsors the IPC Media Pension ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 399.40 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 50.00 386.20 Td (accrual of additional benefits for current participants. ) Tj ET Q
q 0 0 0 rg BT 286.81 386.20 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 50.00 373.00 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 50.00 359.80 Td (up to a maximum of 5 percent. Concurrently with the acquisition of ) Tj ET Q
q 0 0 0 rg BT 350.09 359.80 Td (T) Tj ET Q
q 0 0 0 rg BT 356.43 359.80 Td (ime, the Company was substituted for ) Tj ET Q
q 0 0 0 rg BT 525.79 359.80 Td (T) Tj ET Q
q 0 0 0 rg BT 532.12 359.80 Td (ime as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 346.60 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 50.00 320.20 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 509.14 320.20 Td (April�5, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 307.00 Td (2018. 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 50.00 293.80 Td (determine a pension plan�) Tj ET Q
q 0 0 0 rg BT 163.32 293.80 Td (s funded status in accordance with U.S. GAAP) Tj ET Q
q 0 0 0 rg BT 368.32 293.80 Td (, the IPC Plan was deemed to be ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 280.60 Td (underfunded at that time by approximately �59 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 254.20 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 455.67 254.20 Td (s �buyout deficit� \(i.e., ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 241.00 Td (the amount that would be needed to purchase annuities to dischar) Tj ET Q
q 0 0 0 rg BT 336.94 241.00 Td (ge the benefits under the plan\) under certain ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 227.80 Td (circumstances. Specifically) Tj ET Q
q 0 0 0 rg BT 169.63 227.80 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 50.00 214.60 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 50.00 201.40 Td (default \(a Major Debt ) Tj ET Q
q 0 0 0 rg BT 147.74 201.40 Td (Acceleration\) or if a Covenant Breach were to occur \(as described below\). ) Tj ET Q
q 0 0 0 rg BT 477.09 201.40 Td (The Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 188.20 Td (would be permitted to recoup the escrowed funds under certain circumstances. However) Tj ET Q
q 0 0 0 rg BT 438.08 188.20 Td (, if the Company) Tj ET Q
q 0 0 0 rg BT 511.30 188.20 Td (, as the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 175.00 Td (sponsor) Tj ET Q
q 0 0 0 rg BT 83.78 175.00 Td (, was to become insolvent, or if a Major Debt ) Tj ET Q
q 0 0 0 rg BT 285.40 175.00 Td (Acceleration were to occur \(without being promptly cured\), ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 161.80 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 50.00 148.60 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 50.00 122.20 Td (In connection with the completion of the sale of all issued shares of ) Tj ET Q
q 0 0 0 rg BT 349.47 122.20 Td (T) Tj ET Q
q 0 0 0 rg BT 355.80 122.20 Td (ime Inc. \(UK\) Ltd \(TIUK\) on March�15, 2018, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 109.00 Td (and the substitution of another U.K. subsidiary of the Company as the sole sponsor under the IPC Plan, the deed of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 95.80 Td (guarantee was amended to remove requirements to deposit the buyout deficit as a result of certain credit rating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 82.60 Td (triggers. ) Tj ET Q
q 0 0 0 rg BT 88.49 82.60 Td (At the same time, the Company agreed that the same subsidiaries of the Company that guarantee the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 69.40 Td (Company�) Tj ET Q
q 0 0 0 rg BT 95.83 69.40 Td (s 2026 Senior Notes would guarantee the obligations of the Company under the IPC Plan on a pari passu ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 56.20 Td (basis with the obligations under the 2026 Senior Notes. In addition, the Company agreed to incorporate the terms 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 (20) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (certain covenants under the indenture governing the 2026 Senior Notes into the amended deed of guarantee ) 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 as of March�15, 2018. If a breach of such covenants by the Company or the subsidiary guarantors occurs ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (\(after certain notice and cure periods\) \(a Covenant Breach\), the Company would be required to deposit the buyout ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (deficit \(less the amount of certain types of security in favor of the IPC Plan, currently provided in the form of a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (surety bond\) into escrow as described above.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (If the Company had been required to fund the buyout deficit on June�30, 2019, the amount would have been ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (approximately �1) Tj ET Q
q 0 0 0 rg BT 126.88 649.00 Td (15 million. ) Tj ET Q
q 0 0 0 rg BT 177.71 649.00 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 50.00 635.80 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 50.00 609.40 Td (It is possible that, following future valuations of the IPC Plan�) Tj ET Q
q 0 0 0 rg BT 323.44 609.40 Td (s assets and liabilities or following future discussions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 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 50.00 583.00 Td (IPC Plan will change. ) Tj ET Q
q 0 0 0 rg BT 148.48 583.00 Td (The future valuations under the IPC Plan can be af) Tj ET Q
q 0 0 0 rg BT 370.97 583.00 Td (fected by a number of assumptions and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (factors, including legislative changes, assumptions regarding interest rates, currency rates, inflation, mortality) Tj ET Q
q 0 0 0 rg BT 531.92 569.80 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (retirement rates, the investment strategy and performance of the IPC Plan assets, and \(in certain limited ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (circumstances\) actions by the U.K. Pensions Regulator) Tj ET Q
q 0 0 0 rg BT 291.34 543.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 296.64 543.40 Td (V) Tj ET Q
q 0 0 0 rg BT 303.17 543.40 Td (olatile economic conditions, including the U.K.�) Tj ET Q
q 0 0 0 rg BT 515.18 543.40 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 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 50.00 517.00 Td (requirements increase following the next triennial valuation. ) Tj ET Q
q 0 0 0 rg BT 317.99 517.00 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 50.00 503.80 Td (the Pensions ) Tj ET Q
q 0 0 0 rg BT 107.45 503.80 Td (Act 2004 to impose a contribution notice or a financial support direction on the Company \(and other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (persons connected with the Company or the U.K. subsidiary which sponsors the IPC Plan\) if, in the case of a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 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 50.00 464.20 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 556.02 464.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 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 451.77 451.00 Td (ficiently resourced and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (the Pensions Regulator considers it is reasonable to act against such a person. ) Tj ET Q
q 0 0 0 rg BT 392.76 437.80 Td (A) Tj ET Q
q 0 0 0 rg BT 400.09 437.80 Td ( significant increase in the funding ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (requirements for the IPC Plan or in the calculated �self-suf) Tj ET Q
q 0 0 0 rg BT 308.52 424.60 Td (ficiency deficit� or the calculated �risk-free self-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (suf) Tj ET Q
q 0 0 0 rg BT 63.25 411.40 Td (ficiency deficit� could result in a material adverse ef) Tj ET Q
q 0 0 0 rg BT 293.93 411.40 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 50.00 398.20 Td (operations.) Tj ET Q
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BT /F4 10.00 Tf ET
q 0 0 0 rg BT 137.95 357.21 Td (The pr) Tj ET Q
q 0 0 0 rg BT 163.97 357.21 Td (eceding risk factors should not be construed as a complete list of factors that) Tj ET Q
BT /F4 10.00 Tf ET
q 0 0 0 rg BT 197.00 347.21 Td (may affect our futur) Tj ET Q
q 0 0 0 rg BT 276.34 347.21 Td (e operations and financial r) Tj ET Q
q 0 0 0 rg BT 387.63 347.21 Td (esults.) Tj ET Q
BT /F2 10.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.80 Td (ITEM�1B. UNRESOL) Tj ET Q
q 0 0 0 rg BT 158.09 292.80 Td (VED ST) Tj ET Q
q 0 0 0 rg BT 196.71 292.80 Td (AFF) Tj ET Q
q 0 0 0 rg BT 217.68 292.80 Td ( COMMENTS) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.20 Td (None.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 204.00 Td (ITEM�2. PROPER) Tj ET Q
q 0 0 0 rg BT 143.42 204.00 Td (TIES) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 164.40 Td (The Company owns its headquarters located at 1716 and 1615 Locust Street \(Des Moines Campus\), in Des Moines, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 151.20 Td (Iowa. ) Tj ET Q
q 0 0 0 rg BT 77.29 151.20 Td (The Company is the sole occupant of the Des Moines Campus and believes it is adequate for its intended use.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 124.80 Td (The national media segment operates mainly from the Des Moines Campus and from its leased location in New ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 111.60 Td (Y) Tj ET Q
q 0 0 0 rg BT 56.84 111.60 Td (ork, New ) Tj ET Q
q 0 0 0 rg BT 100.12 111.60 Td (Y) Tj ET Q
q 0 0 0 rg BT 106.96 111.60 Td (ork. Other significant leased locations include those in ) Tj ET Q
q 0 0 0 rg BT 348.60 111.60 Td (Alabama, California, Connecticut, Florida, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 98.40 Td (Illinois, New Jersey) Tj ET Q
q 0 0 0 rg BT 136.96 98.40 Td (, and ) Tj ET Q
q 0 0 0 rg BT 160.90 98.40 Td (W) Tj ET Q
q 0 0 0 rg BT 170.40 98.40 Td (ashington. ) Tj ET Q
q 0 0 0 rg BT 218.48 98.40 Td (These premises are used primarily as advertising sales of) Tj ET Q
q 0 0 0 rg BT 468.75 98.40 Td (fices, technology ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 85.20 Td (centers, brand, editorial, and other operational functions. ) Tj ET Q
q 0 0 0 rg BT 301.80 85.20 Td (The Company believes these facilities are suf) Tj ET Q
q 0 0 0 rg BT 501.36 85.20 Td (ficient to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 72.00 Td (meet our current and expected future requirements.) 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 59.94 741.40 Td (ith the sale of the ) Tj ET Q
q 0 0 0 rg BT 138.25 741.40 Td (T) Tj ET Q
q 0 0 0 rg BT 144.58 741.40 Td (ime and Fortune media brands in fiscal 2019, the Company reduced its international presence, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (while retaining an of) Tj ET Q
q 0 0 0 rg BT 141.13 728.20 Td (fice in India.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (The local media segment operates from facilities in the following locations: ) Tj ET Q
q 0 0 0 rg BT 385.10 701.80 Td (Atlanta, GA; Phoenix, ) Tj ET Q
q 0 0 0 rg BT 485.62 701.80 Td (AZ; St. Louis, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (MO; Beaverton, OR; Nashville, ) Tj ET Q
q 0 0 0 rg BT 192.78 688.60 Td (TN; Rocky Hill, CT) Tj ET Q
q 0 0 0 rg BT 280.78 688.60 Td (; Fairway) Tj ET Q
q 0 0 0 rg BT 321.92 688.60 Td (, KS; Greenville, SC; Henderson, NV) Tj ET Q
q 0 0 0 rg BT 486.69 688.60 Td (; Mobile, ) Tj ET Q
q 0 0 0 rg BT 529.17 688.60 Td (AL; ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (Saginaw) Tj ET Q
q 0 0 0 rg BT 87.17 675.40 Td (, MI; and Springfield, MA. Except for the properties in St. Louis, MO and Saginaw) Tj ET Q
q 0 0 0 rg BT 453.37 675.40 Td (, MI, all properties are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (owned by the Company) Tj ET Q
q 0 0 0 rg BT 154.08 662.20 Td (. Each of the broadcast stations maintains one or more owned or leased transmitter sites.) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 565.00 Td (These claims, actions and proceedings are at varying stages of investigation, arbitration, or adjudication, and ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 191.00 551.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 196.30 551.80 Td (T) Tj ET Q
q 0 0 0 rg BT 202.64 551.80 Td (ime, which is now a wholly-owned subsidiary) Tj ET Q
q 0 0 0 rg BT 404.48 551.80 Td (, previously reported on, and we ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 538.60 Td (update below) Tj ET Q
q 0 0 0 rg BT 108.24 538.60 Td (, the following legal proceedings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 512.20 Td (On October�26, 2010, the Canadian Minister of National Revenue denied the claims by ) Tj ET Q
q 0 0 0 rg BT 435.92 512.20 Td (T) Tj ET Q
q 0 0 0 rg BT 442.26 512.20 Td (ime Inc. Retail \(formerly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 499.00 Td (T) Tj ET Q
q 0 0 0 rg BT 56.33 499.00 Td (ime/W) Tj ET Q
q 0 0 0 rg BT 85.38 499.00 Td (arner Retail Sales & Marketing, Inc.\) \(TIR\) 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 50.00 485.80 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 50.00 472.60 Td (2008, on the basis that ) Tj ET Q
q 0 0 0 rg BT 151.23 472.60 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 50.00 459.40 Td (approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.28 459.40 Td (C$52 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 174.65 459.40 Td (. On January�21, 201) Tj ET Q
q 0 0 0 rg BT 265.90 459.40 Td (1, ) Tj ET Q
q 0 0 0 rg BT 276.70 459.40 Td (TIR filed an objection to the Notices of Reassessment with the ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 88.49 446.20 Td (Appeals of the Canada Revenue ) Tj ET Q
q 0 0 0 rg BT 231.75 446.20 Td (Agency \(CRA\), ar) Tj ET Q
q 0 0 0 rg BT 312.50 446.20 Td (guing that ) Tj ET Q
q 0 0 0 rg BT 359.35 446.20 Td (TIR claimed input tax credits only in respect ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 433.00 Td (of goods and services tax it actually paid and it is entitled to a rebate for such payments. On September�13, 2013, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 419.80 Td (TIR received Notices of Reassessment in the amount of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 297.74 419.80 Td (C$26.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.35 419.80 Td ( relating to the same type of situation during ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 406.60 Td (the years 2009 to 2010, and ) Tj ET Q
q 0 0 0 rg BT 174.14 406.60 Td (TIR filed similar objections as for prior years. By letter dated June 19, 2015, the CRA) Tj ET Q
q 0 0 0 rg BT 551.72 406.60 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 393.40 Td (requested payment of C$89.8 million, which includes interest accrued and stated that failure to pay may result in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 380.20 Td (legal action. ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 367.00 Td (by ) Tj ET Q
q 0 0 0 rg BT 63.55 367.00 Td (TIR�) Tj ET Q
q 0 0 0 rg BT 84.33 367.00 Td (s objection. Including interest accrued, the total of the reassessments claimed by the CRA) 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 105.91 353.80 Td (C$91 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 164.28 353.80 Td ( as of November�30, 2015. ) Tj ET Q
q 0 0 0 rg BT 283.84 353.80 Td (The parties are engaged in mediation.) Tj ET Q
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q 0 0 0 rg BT 209.19 327.40 Td (ime received subpoenas from the Enforcement Division of the staf) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 314.20 Td (requiring ) Tj ET Q
q 0 0 0 rg BT 92.87 314.20 Td (T) Tj ET Q
q 0 0 0 rg BT 99.20 314.20 Td (ime to provide documents relating to its accounting for goodwill and asset impairments, restructuring ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 291.95 301.00 Td (ime�) Tj ET Q
q 0 0 0 rg BT 311.50 301.00 Td (s segments. In ) Tj ET Q
q 0 0 0 rg BT 376.28 301.00 Td (April 2019, the Company received a letter ) Tj ET Q
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q 0 0 0 rg BT 452.98 287.80 Td (ime and it does not ) Tj ET Q
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q 0 0 0 rg BT 339.60 274.60 Td (ime.) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 127.61 235.00 Td (ork against the Company) Tj ET Q
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q 0 0 0 rg BT 500.12 235.00 Td (, seeking to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 221.80 Td (represent a class of shareholders who acquired securities of the Company between May�10, 2018 and September�4, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 208.60 Td (2019. On September 12, 2019, a shareholder filed a putative class action lawsuit in the U.S. District Court for the ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 360.99 195.40 Td (ficer) Tj ET Q
q 0 0 0 rg BT 380.70 195.40 Td (, its Chief Financial Of) Tj ET Q
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q 0 0 0 rg BT 501.33 195.40 Td (, and its ) 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 50.00 169.00 Td (between January�31, 2018 and September�5, 2019. Both complaints allege that the defendants made materially false ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 155.80 Td (and/or misleading statements, and failed to disclose material adverse facts, about the Company�) Tj ET Q
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q 0 0 0 rg BT 50.00 142.60 Td (operations, and prospects. Both complaints assert claims under the federal securities laws and seek unspecified ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 129.40 Td (monetary damages and other relief. ) Tj ET Q
q 0 0 0 rg BT 208.01 129.40 Td (The defendants have not yet responded to either complaint but intend to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 116.20 Td (vigorously oppose them. ) Tj ET Q
q 0 0 0 rg BT 161.02 116.20 Td (The Company expresses no opinion as to the ultimate outcome of these matters.) Tj ET Q
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q 0 0 0 rg BT 368.32 577.05 Td (ork Stock Exchange \(trading symbol ) Tj ET Q
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q 0 0 0 rg BT 82.81 563.85 Td (There is no separate public trading market for 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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BT /F2 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 65.59 471.45 Td (August�31, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.62 471.45 Td (, there were approximately 850 holders of record of the Company�) Tj ET Q
q 0 0 0 rg BT 430.33 471.45 Td (s common stock and 470 ) 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 50.00 299.85 Td (the change. ) Tj ET Q
q 0 0 0 rg BT 102.64 299.85 Td (The Company believes the Dow Jones US Media Index provides a more comparable measure because it ) 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 50.00 273.45 Td (representation of our peers.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 252.25 Td (The peer group previously selected by the Company for comparison, which is weighted by market capitalization, is ) Tj ET Q
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q 0 0 0 rg BT 240.42 225.85 Td ( Inc.; ) Tj ET Q
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q 0 0 0 rg BT 304.27 225.85 Td (. Scripps Company; and ) 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
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F4 11.00 Tf ET
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BT /F4 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F4 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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BT /F2 11.00 Tf ET
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BT /F4 11.00 Tf ET
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BT /F4 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 347.63 427.20 Td (fer materially from those described in forward-) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F4 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 50.00 321.60 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 180 million unduplicated ) 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 50.00 268.80 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
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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
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q 0 0 0 rg BT 306.01 242.40 Td (Allrecipes, Real Simple, Southern Living, and Martha ) 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 438.96 216.00 Td (The national media ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 321.77 202.80 Td (The Foundry) 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 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
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q 0 0 0 rg BT 436.94 163.20 Td (1 percent of U.S. ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 548.06 150.00 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 55.95 136.80 Td (op�25 markets�including ) Tj ET Q
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q 0 0 0 rg BT 408.03 136.80 Td (T) Tj ET Q
q 0 0 0 rg BT 413.98 136.80 Td (op�50 markets. Meredith�) Tj ET Q
q 0 0 0 rg BT 525.18 136.80 Td (s ) 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 99.29 110.40 Td (The local media segment also includes MNI ) Tj ET Q
q 0 0 0 rg BT 296.11 110.40 Td (T) Tj ET Q
q 0 0 0 rg BT 302.07 110.40 Td (ar) Tj ET Q
q 0 0 0 rg BT 310.41 110.40 Td (geted Media, which delivers tar) Tj ET Q
q 0 0 0 rg BT 449.19 110.40 Td (geted advertising ) 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
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 170.36 728.20 Td (fiscal 2019) 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 78.72 715.00 Td ( in revenues while local media segment revenues contributed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.66 715.00 Td (27 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 50.00 688.60 Td (Fiscal 2019 marked the first full year of owning and operating the assets acquired from ) Tj ET Q
q 0 0 0 rg BT 435.61 688.60 Td (T) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 258.13 675.40 Td (gest portfolio of national media brands in the industry) Tj ET Q
q 0 0 0 rg BT 494.48 675.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 181.36 649.00 Td (s national media group delivered on many of the key elements of the acquisition plan, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (including:) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F1 11.00 Tf ET
q 0 0 0 rg BT 86.00 609.40 Td (Impr) Tj ET Q
q 0 0 0 rg BT 110.25 609.40 Td (oving the print advertising performance of the acquir) Tj ET Q
q 0 0 0 rg BT 360.88 609.40 Td (ed ) Tj ET Q
q 0 0 0 rg BT 374.43 609.40 Td (T) Tj ET Q
q 0 0 0 rg BT 381.57 609.40 Td (ime pr) Tj ET Q
q 0 0 0 rg BT 412.22 609.40 Td (operties to Mer) Tj ET Q
q 0 0 0 rg BT 484.10 609.40 Td (edith�) Tj ET Q
q 0 0 0 rg BT 511.19 609.40 Td (s ) Tj ET Q
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BT /F2 10.00 Tf ET
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BT /F1 11.00 Tf ET
q 0 0 0 rg BT 86.00 569.80 Td (Gr) Tj ET Q
q 0 0 0 rg BT 99.24 569.80 Td (owing r) Tj ET Q
q 0 0 0 rg BT 134.79 569.80 Td (evenue and raising the pr) Tj ET Q
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q 0 0 0 rg BT 373.33 569.80 Td (ed ) Tj ET Q
q 0 0 0 rg BT 386.88 569.80 Td (T) Tj ET Q
q 0 0 0 rg BT 394.02 569.80 Td (ime digital pr) Tj ET Q
q 0 0 0 rg BT 457.37 569.80 Td (operties.) Tj ET Q
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BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 99.24 543.40 Td (owing consumer) Tj ET Q
q 0 0 0 rg BT 175.73 543.40 Td ( r) Tj ET Q
q 0 0 0 rg BT 183.17 543.40 Td (elated r) Tj ET Q
q 0 0 0 rg BT 218.70 543.40 Td (evenues by leveraging Mer) Tj ET Q
q 0 0 0 rg BT 344.06 543.40 Td (edith�) Tj ET Q
q 0 0 0 rg BT 371.15 543.40 Td (s expanded brand portfolio.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.34 543.40 Td ( ) Tj ET Q
q 0 0 0 rg BT 503.89 543.40 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 530.20 Td (consumer revenue activities are diversified, mostly contractual, and include magazine subscriptions, brand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 517.00 Td (licensing, af) Tj ET Q
q 0 0 0 rg BT 139.56 517.00 Td (finity marketing, paid products, and lead generation. ) Tj ET Q
q 0 0 0 rg BT 372.33 517.00 Td (As an example, Meredith was a key ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 503.80 Td (partner in the launch of ) Tj ET Q
q 0 0 0 rg BT 190.77 503.80 Td (Apple News+, a new digital subscription service that of) Tj ET Q
q 0 0 0 rg BT 435.35 503.80 Td (fers 30 Meredith magazines ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 490.60 Td (among more than 300 popular titles, leading newspapers, and digital publishers in an innovative, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 477.40 Td (convenient, and curated experience. Consumer related revenues accounted for more than 45 percent of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 464.20 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 129.38 464.20 Td (s total national media revenues in fiscal 2019, up from 41 percent in the prior year) Tj ET Q
q 0 0 0 rg BT 490.43 464.20 Td (.) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 68.00 437.80 Td (� ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 86.00 437.80 Td (Selling media assets not cor) Tj ET Q
q 0 0 0 rg BT 214.74 437.80 Td (e to Mer) Tj ET Q
q 0 0 0 rg BT 254.23 437.80 Td (edith�) Tj ET Q
q 0 0 0 rg BT 281.33 437.80 Td (s business.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.24 437.80 Td ( Meredith successfully completed the divestiture of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 424.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 101.99 424.60 Td (T) Tj ET Q
q 0 0 0 rg BT 108.32 424.60 Td (ime and Fortune brands and reached an agreement to divest the Sports Illustrated brand in fiscal 2019.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 398.20 Td (s local media business continued to deliver record performance in fiscal 2019, including setting new all-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (time highs for political advertising and consumer related revenues. ) Tj ET Q
q 0 0 0 rg BT 345.69 385.00 Td (Additional highlights included:) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
q 0 0 0 rg BT 86.00 358.60 Td (Incr) Tj ET Q
q 0 0 0 rg BT 105.96 358.60 Td (easing its consumer) Tj ET Q
q 0 0 0 rg BT 197.43 358.60 Td ( connection) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.90 358.60 Td ( � Meredith delivered strong performance during ratings periods ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 345.40 Td (throughout fiscal 2019. During the most recent May rating period, Meredith stations in eight of its 12 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 332.20 Td (markets ranked No.�1 or No.�2 from sign-on to sign-of) Tj ET Q
q 0 0 0 rg BT 324.70 332.20 Td (f.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 68.00 305.80 Td (� ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 86.00 305.80 Td (Rapidly gr) Tj ET Q
q 0 0 0 rg BT 136.23 305.80 Td (owing its digital platforms) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 259.37 305.80 Td ( � Local media third party sales advertising related revenues ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 292.60 Td (increased, reflecting a full year of contribution from MNI. In addition, traf) Tj ET Q
q 0 0 0 rg BT 413.24 292.60 Td (fic across the Local media�) Tj ET Q
q 0 0 0 rg BT 531.74 292.60 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 279.40 Td (digital properties grew in the low double digits from the prior year and averaged 19 million unique visitors ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 266.20 Td (per month in fiscal 2019.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 68.00 239.80 Td (� ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 86.00 239.80 Td (Successful r) Tj ET Q
q 0 0 0 rg BT 141.71 239.80 Td (enewal of key distribution and network affiliation agr) Tj ET Q
q 0 0 0 rg BT 393.00 239.80 Td (eements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.62 239.80 Td ( During fiscal 2019, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 226.60 Td (Meredith completed retransmission consent agreements with Cox Communications and Charter ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 213.40 Td (Communications Inc., as well as network af) Tj ET Q
q 0 0 0 rg BT 278.87 213.40 Td (filiation renewals for all of its FOX-af) Tj ET Q
q 0 0 0 rg BT 446.67 213.40 Td (filiated markets. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 200.20 Td (Consumer related revenues grew more than 15 percent in fiscal 2019.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 173.80 Td (� ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 86.00 173.80 Td (Launching new pr) Tj ET Q
q 0 0 0 rg BT 171.99 173.80 Td (ogramming to expand Mer) Tj ET Q
q 0 0 0 rg BT 297.97 173.80 Td (edith�) Tj ET Q
q 0 0 0 rg BT 325.06 173.80 Td (s r) Tj ET Q
q 0 0 0 rg BT 336.78 173.80 Td (each.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 360.91 173.80 Td ( ) Tj ET Q
q 0 0 0 rg BT 363.46 173.80 Td (This included a new weekly television show ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.00 160.60 Td (based on the strength of Meredith�) Tj ET Q
q 0 0 0 rg BT 237.21 160.60 Td (s People brand. ) 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 346.30 134.20 Td (s local television markets.) 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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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 187.76 649.00 Td (ade up ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 219.52 649.00 Td (50 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.64 649.00 Td ( of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 280.30 649.00 Td (fiscal 2019) Tj ET Q
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BT /F2 11.00 Tf ET
1 1 1 rg
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50.00 643.43 501.25 -10.00 re f
/GS0 gs
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BT /F2 11.00 Tf ET
1 1 1 rg
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50.00 630.23 267.61 -10.00 re f
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q 0 0 0 rg BT 50.00 622.60 Td (promoting their brands, products, and services to consumers ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.61 622.60 Td (as well as revenue we generate selling advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (space on third-party platforms.) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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185.63 617.03 379.06 -10.00 re f
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1 1 1 rg
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (product, consumer spending, housing starts, unemployment rates, auto sales, and interest rates. Circulation levels of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (Meredith�) Tj ET Q
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q 0 0 0 rg BT 395.24 569.80 Td (ged relative to other comparable ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (available advertising opportunities also af) Tj ET Q
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BT /F2 11.00 Tf ET
1 1 1 rg
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.69 530.20 Td (ed for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 235.39 530.20 Td (46 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 281.51 530.20 Td ( o) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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289.76 537.83 6.41 -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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344.74 537.83 115.15 -10.00 re f
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.90 530.20 Td (Consumer related ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (revenue includes all revenues either driven by or otherwise linked to consumer buying decisions and include ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (circulation activities; ) Tj ET Q
BT /F2 11.00 Tf ET
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145.30 511.43 371.46 -10.00 re f
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BT /F2 11.00 Tf ET
1 1 1 rg
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50.00 498.23 96.21 -10.00 re f
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 146.21 490.60 Td (e-commerce) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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200.56 498.23 350.97 -10.00 re f
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BT /F2 11.00 Tf ET
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50.00 471.83 469.79 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 464.20 Td (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 519.79 464.20 Td ( In the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (short term, subscription revenues, which accounted for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 294.07 451.00 Td (64 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.18 451.00 Td ( of consumer related revenues, are less susceptib) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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553.99 458.63 10.69 -10.00 re f
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50.00 445.43 502.87 -10.00 re f
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q 0 0 0 rg BT 50.00 437.80 Td (to economic changes because subscriptions are generally sold for terms of one to three years. ) Tj ET Q
q 0 0 0 rg BT 462.16 437.80 Td (The same economic ) Tj ET Q
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q 0 0 0 rg BT 110.27 424.60 Td (fect advertising related revenues also can influence consumers�) Tj ET Q
q 0 0 0 rg BT 387.69 424.60 Td ( response to subscription of) Tj ET Q
q 0 0 0 rg BT 508.48 424.60 Td (fers and ) Tj ET Q
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q 0 0 0 rg BT 345.97 385.00 Td (costs. ) Tj ET Q
q 0 0 0 rg BT 372.87 385.00 Td (A) Tj ET Q
q 0 0 0 rg BT 380.20 385.00 Td ( key factor in our subscription success is ) Tj ET Q
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q 0 0 0 rg BT 50.00 371.80 Td (our industry-leading database. It contains an abundance of attributes on 175 million individuals, including 85 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (percent of U.S. millennial women. ) Tj ET Q
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
1 1 1 rg
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BT /F2 11.00 Tf ET
1 1 1 rg
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BT /F2 11.00 Tf ET
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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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 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 539.98 200.20 Td (23 ) 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 50.00 477.40 Td (and in the local markets in which we operate stations, and with the cyclical changes in political advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (discussed previously) Tj ET Q
q 0 0 0 rg BT 140.64 464.20 Td (. Programming content, audience share, audience demographics, and the advertising rates ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (char) Tj ET Q
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q 0 0 0 rg BT 343.44 451.00 Td (fect advertising revenues. On occasion, unusual ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 372.95 437.80 Td (fect spot advertising revenues.) 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 214.63 398.20 Td (32 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 260.75 398.20 Td ( of local media�) 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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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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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 /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
q 0 0 0 rg BT 68.00 213.40 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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3 M
51 625.3 m
306 625.3 l
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51 611.3 m
306 611.3 l
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356 625.3 l
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356 625.3 m
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360 611.3 m
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400 611.3 m
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406 611.3 m
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456 625.3 m
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460 625.3 m
500 625.3 l
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460 611.3 m
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500 625.3 m
505 625.3 l
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500 611.3 m
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505 503.3 m
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 53.50 615.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 59.61 615.98 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 332.50 615.98 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 369.70 615.98 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 432.50 615.98 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 468.70 615.98 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 531.50 615.98 Td (2017) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 53.50 601.75 Td (\(In millions except per shar) Tj ET Q
q 0 0 0 rg BT 152.81 601.75 Td (e data\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.50 587.17 Td (T) Tj ET Q
q 0 0 0 rg BT 59.83 587.17 Td (otal revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 118.25 587.17 Td (...................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.50 587.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.75 587.17 Td (3,188.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 375.60 587.17 Td (41) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.25 587.17 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.50 587.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 418.75 587.17 Td (2,264.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 475.60 587.17 Td (32) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 490.30 587.17 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.50 587.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 517.75 587.17 Td (1,713.3) 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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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 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 371.95 454.22 Td (\(37) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 386.65 454.22 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.50 454.22 Td (1.79) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.95 454.22 Td (\(57) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.65 454.22 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.50 454.22 Td (4.16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.50 439.17 Td (Diluted earnings \(loss\) per common share) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 239.25 439.17 Td (.......................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.85 439.17 Td (\(0.70) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 351.80 439.17 Td (\)) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 380.00 439.16 Td (n/m) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.50 439.17 Td (1.47) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.95 439.17 Td (\(65) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.65 439.17 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.50 439.17 Td (4.16) Tj ET Q
BT /F4 9.00 Tf ET
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BT /F2 10.00 Tf ET
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 81.39 384.40 Td (VIEW) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 528.17 358.00 Td (fected ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 344.80 Td (our businesses. Following the Overview is an analysis of the results of operations for the local media and national ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 331.60 Td (media segments and an analysis of our consolidated results of operations for the last three fiscal years.) Tj ET Q
BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 278.80 Td (On January�31, 2018, Meredith completed its acquisition of all the outstanding shares of ) Tj ET Q
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q 0 0 0 rg BT 447.17 278.80 Td (ime. ) Tj ET Q
q 0 0 0 rg BT 468.55 278.80 Td (As a result, ) Tj ET Q
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q 0 0 0 rg BT 527.23 278.80 Td (ime ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 265.60 Td (became a wholly-owned subsidiary of Meredith. Since February�1, 2018, the first day of operations for the ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 244.90 252.40 Td (T) Tj ET Q
q 0 0 0 rg BT 251.23 252.40 Td (ime have been included in the Company�) Tj ET Q
q 0 0 0 rg BT 431.46 252.40 Td (s consolidated operating ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 187.90 239.20 Td (ime�) Tj ET Q
q 0 0 0 rg BT 207.45 239.20 Td (s operations are reported in Meredith�) Tj ET Q
q 0 0 0 rg BT 373.31 239.20 Td (s national media segment, one business ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 81.58 226.00 Td (T) Tj ET Q
q 0 0 0 rg BT 87.91 226.00 Td (ime is reported in Meredith�) Tj ET Q
q 0 0 0 rg BT 211.32 226.00 Td (s local media segment and certain expenses are reported in unallocated ) 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 202.11 199.60 Td (April 2017, the acquisition of Peachtree ) Tj ET Q
q 0 0 0 rg BT 380.01 199.60 Td (TV) Tj ET Q
q 0 0 0 rg BT 393.25 199.60 Td (, an independent station in ) Tj ET Q
q 0 0 0 rg BT 511.17 199.60 Td (Atlanta, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 186.40 Td (Geor) Tj ET Q
q 0 0 0 rg BT 71.79 186.40 Td (gia, which was operated by Meredith prior to its acquisition. ) Tj ET Q
q 0 0 0 rg BT 339.81 186.40 Td (The operating results of these acquisitions have ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 187.47 173.20 Td (s consolidated operating results since their respective acquisition dates. See Note�2 ) 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 223.93 133.60 Td (T) Tj ET Q
q 0 0 0 rg BT 230.26 133.60 Td (ime, the ability to separately track ) Tj ET Q
q 0 0 0 rg BT 382.48 133.60 Td (T) Tj ET Q
q 0 0 0 rg BT 388.81 133.60 Td (ime-related revenues and expenses, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 120.40 Td (especially unallocated corporate expenses, becomes less feasible. ) Tj ET Q
q 0 0 0 rg BT 339.24 120.40 Td (As such, throughout MD&A) Tj ET Q
q 0 0 0 rg BT 464.52 120.40 Td ( reasonable estimates ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 116.38 107.20 Td (T) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 184.83 715.20 Td (T) Tj ET Q
q 0 0 0 rg BT 191.16 715.20 Td (ime, the Money brand had been included in discontinued operations as it had been ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (held for sale. In the fourth quarter of fiscal 2019, due to a change in vision, the decision was made to retain the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td (Money brand. ) Tj ET Q
q 0 0 0 rg BT 113.85 688.80 Td (As such, the operations of the Money brand have been reclassified as continuing operations 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 50.00 649.20 Td (During fiscal 2019, the Company adopted ) Tj ET Q
q 0 0 0 rg BT 236.66 649.20 Td (Accounting Standards Update�2017-07, ) Tj ET Q
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BT /F4 11.00 Tf ET
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q 0 0 0 rg BT 285.96 636.00 Td (ement Benefit Cost, ) 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 50.00 622.80 Td (primarily resulted in the reclassification of amounts between production, distribution, and editorial expenses and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (selling, general, and administrative expenses, which are part of operating profit, and non-operating income, net, in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (each of the three years presented.) Tj ET Q
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 451.37 530.40 Td (fect on operating results. ) 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 50.00 504.00 Td (the biennial cycle of election campaigns with peaks occurring in our odd fiscal years \(e.g., fiscal 2017, fiscal 2019\) ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td (and particularly in our second quarter of those fiscal years. Other significant uncertainties that can af) Tj ET Q
q 0 0 0 rg BT 492.69 490.80 Td (fect operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.60 Td (results include fluctuations in the cost of paper) Tj ET Q
q 0 0 0 rg BT 255.14 477.60 Td (, postage rates, and over time, television programming rights. ) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 400.90 464.40 Td (, is adversely af) Tj ET Q
q 0 0 0 rg BT 469.73 464.40 Td (fected when 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 438.78 438.00 Td (o manage the uncertainties ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.80 Td (inherent in our businesses, we prepare monthly internal forecasts of anticipated results of operations and monitor ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 323.89 411.60 Td (. See ) 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 50.00 398.40 Td (further discussion.) Tj ET Q
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q 0 0 0 rg BT 65.07 358.80 Td (TIONAL) Tj ET Q
q 0 0 0 rg BT 107.86 358.80 Td ( MEDIA) 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 50.00 319.20 Td (publishing, digital and customer relationship marketing, digital and mobile media, af) Tj ET Q
q 0 0 0 rg BT 422.80 319.20 Td (finity marketing, brand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (licensing, database-related activities, and other related operations. ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.80 Td (percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.37 292.80 Td ( of Meredith�) Tj ET Q
q 0 0 0 rg BT 140.41 292.80 Td (s consolidated revenues in ) 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 307.50 292.80 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.88 292.80 Td (31 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 375.00 292.80 Td ( of the combined operating profit from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (national media and local media operations in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.07 279.60 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 298.64 279.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 303.95 279.60 Td (These results reflect the acquired ) Tj ET Q
q 0 0 0 rg BT 451.87 279.60 Td (T) Tj ET Q
q 0 0 0 rg BT 458.20 279.60 Td (ime business since the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.40 Td (date of the acquisition.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 240.00 Td (National media revenues increased 48 percent in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.55 240.00 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.12 240.00 Td (. Operating costs and expenses increased 48 percent. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.80 Td (Acquisition, disposition, and restructuring related activities of $54.3 million and impairment char) Tj ET Q
q 0 0 0 rg BT 478.10 226.80 Td (ges of $41.8 ) 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 209.24 200.40 Td (T) Tj ET Q
q 0 0 0 rg BT 215.57 200.40 Td (ime business in fiscal 2019.) Tj ET Q
BT /F2 11.00 Tf ET
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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
49.5 703.7 m
292.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
292.5 717.7 m
347.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
292.5 703.7 m
347.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
347.5 717.7 m
351.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
347.5 703.7 m
351.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
351.5 717.7 m
395.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
351.5 703.7 m
395.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395.5 717.7 m
399.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395.5 703.7 m
399.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399.5 717.7 m
454.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399.5 703.7 m
454.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
454.5 717.7 m
458.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
454.5 703.7 m
458.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
458.5 717.7 m
502.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
458.5 703.7 m
502.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
502.5 717.7 m
506.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
502.5 703.7 m
506.5 703.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
506.5 717.7 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
506.5 703.7 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
49.5 603.7 m
292.5 603.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
292.5 603.7 m
347.5 603.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
347.5 603.7 m
351.5 603.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399.5 603.7 m
454.5 603.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
454.5 603.7 m
458.5 603.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
506.5 603.7 m
561.5 603.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 588.7 m
292.5 588.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
292.5 588.7 m
347.5 588.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399.5 588.7 m
454.5 588.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
506.5 588.7 m
561.5 588.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 573.7 m
292.5 573.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
292.5 588.7 m
347.5 588.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
292.5 573.7 m
347.5 573.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
347.5 588.7 m
351.5 588.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
347.5 573.7 m
351.5 573.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
351.5 573.7 m
395.5 573.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
395.5 573.7 m
399.5 573.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399.5 588.7 m
454.5 588.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
399.5 573.7 m
454.5 573.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
454.5 588.7 m
458.5 588.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
454.5 573.7 m
458.5 573.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
458.5 573.7 m
502.5 573.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
502.5 573.7 m
506.5 573.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
506.5 588.7 m
561.5 588.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
506.5 573.7 m
561.5 573.7 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 323.30 708.38 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 363.20 708.38 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 430.30 708.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 470.20 708.38 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 537.30 708.38 Td (2017) Tj ET Q
BT /F4 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 96.50 678.57 Td (......................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.00 678.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.25 678.57 Td (2,326.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 374.80 678.57 Td (48) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.80 678.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.00 678.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 417.25 678.57 Td (1,572.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.15 678.57 Td (45) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.80 678.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.00 678.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.25 678.57 Td (1,083.2) 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 146.00 648.57 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 306.60 648.57 Td (\(2,104.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.30 648.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 374.80 648.57 Td (48) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.80 648.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.60 648.57 Td (\(1,421.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.30 648.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.15 648.57 Td (54) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.80 648.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 528.85 648.57 Td (\(922.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 648.57 Td (\)) 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) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.00 622.57 Td (activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 99.25 622.57 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.35 623.62 Td (\(54.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.30 623.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 374.80 623.62 Td (26) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.80 623.62 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.35 623.62 Td (\(43.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.30 623.62 Td (\)) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 482.50 623.61 Td (n/m) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 623.62 Td (\(8.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 623.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.00 608.57 Td (Impairment of long-lived assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.25 608.57 Td (.................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.35 608.57 Td (\(41.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.30 608.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 374.80 608.57 Td (84) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.80 608.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.35 608.57 Td (\(22.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.30 608.57 Td (\)) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 482.50 608.56 Td (n/m) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 608.57 Td (\(5.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 608.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.00 593.57 Td (T) Tj ET Q
q 0 0 0 rg BT 63.95 593.57 Td (otal operating expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.00 593.57 Td (............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 306.60 593.57 Td (\(2,200.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.30 593.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 374.80 593.57 Td (48) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.80 593.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.60 593.57 Td (\(1,487.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.30 593.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.15 593.57 Td (59) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.80 593.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 528.85 593.57 Td (\(936.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 593.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 578.57 Td (Operating profit) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 124.00 578.57 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.00 578.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.50 578.57 Td (126.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 374.80 578.57 Td (48) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.80 578.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.00 578.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 431.05 578.57 Td (85.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.45 578.57 Td (\(42) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.15 578.57 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.00 578.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 578.57 Td (146.4) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 564.55 Td (n/m - Not meaningful) Tj ET Q
BT /F2 10.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 533.80 Td (National Media Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 507.40 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
49.50 439.70 243.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
292.50 439.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
347.50 439.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
351.50 439.70 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.50 439.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.50 439.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.50 439.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
458.50 439.70 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.50 439.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.50 439.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 409.70 243.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
292.50 409.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
347.50 409.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
351.50 409.70 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.50 409.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.50 409.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.50 409.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
458.50 409.70 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.50 409.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.50 409.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 379.70 243.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
292.50 379.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
347.50 379.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
351.50 379.70 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.50 379.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.50 379.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.50 379.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
458.50 379.70 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.50 379.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.50 379.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 349.70 243.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
292.50 349.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
347.50 349.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
351.50 349.70 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.50 349.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.50 349.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.50 349.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
458.50 349.70 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.50 349.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.50 349.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 319.70 243.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
292.50 319.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
347.50 319.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
351.50 319.70 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.50 319.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.50 319.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
454.50 319.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
458.50 319.70 44.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
502.50 319.70 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
506.50 319.70 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 289.70 243.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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292.50 289.70 55.00 -15.00 re f
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.75 354.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.00 354.57 Td (419.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.15 354.57 Td (45) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.80 354.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.00 354.57 Td (290.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 339.57 Td (Newsstand) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 113.00 339.57 Td (................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.00 339.57 Td (165.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.15 339.57 Td (69) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.75 339.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.50 339.57 Td (98.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.60 339.57 Td (1) Tj ET Q
q 0 0 0 rg BT 478.10 339.57 Td (19) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.80 339.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 339.57 Td (44.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 324.57 Td (Af) Tj ET Q
q 0 0 0 rg BT 75.51 324.57 Td (finity marketing) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 148.75 324.57 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.50 324.57 Td (83.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.60 324.57 Td (1) Tj ET Q
q 0 0 0 rg BT 371.10 324.57 Td (19) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.75 324.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.50 324.57 Td (38.1) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 482.50 324.56 Td (n/m) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 540.80 324.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 309.57 Td (Licensing) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.50 309.57 Td (..................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.50 309.57 Td (94.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.15 309.57 Td (29) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.75 309.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.50 309.57 Td (73.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.15 309.57 Td (35) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.80 309.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 309.57 Td (54.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 294.57 Td (Digital consumer driven) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 173.50 294.57 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.50 294.57 Td (39.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.15 294.57 Td (87) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.75 294.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.50 294.57 Td (21.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.15 294.57 Td (25) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.80 294.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 294.57 Td (17.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 76.00 279.57 Td (T) Tj ET Q
q 0 0 0 rg BT 82.33 279.57 Td (otal consumer related) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 179.00 279.57 Td (........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 304.75 279.57 Td (1,077.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.15 279.57 Td (66) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.75 279.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.00 279.57 Td (650.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.15 279.57 Td (60) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.80 279.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.00 279.57 Td (405.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 264.57 Td (Other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 249.57 Td (Project based) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 124.00 249.57 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.50 249.57 Td (50.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.45 249.57 Td (\(55) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.15 249.57 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.00 249.57 Td (1) Tj ET Q
q 0 0 0 rg BT 425.50 249.57 Td (1) Tj ET Q
q 0 0 0 rg BT 431.00 249.57 Td (1.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.45 249.57 Td (\(20) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.15 249.57 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.00 249.57 Td (138.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 234.57 Td (Other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 91.00 234.57 Td (........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.50 234.57 Td (48.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.15 234.57 Td (36) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.75 234.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.50 234.57 Td (35.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.15 234.57 Td (91) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.80 234.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 234.57 Td (18.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 76.00 219.57 Td (T) Tj ET Q
q 0 0 0 rg BT 81.95 219.57 Td (otal other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 124.00 219.57 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 318.50 219.57 Td (99.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.45 219.57 Td (\(32) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.15 219.57 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.00 219.57 Td (146.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.95 219.57 Td (\(7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.15 219.57 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.00 219.57 Td (157.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 204.57 Td (T) Tj ET Q
q 0 0 0 rg BT 57.95 204.57 Td (otal revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 118.50 204.57 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.00 204.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 304.75 204.57 Td (2,326.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.15 204.57 Td (48) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.75 204.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.00 204.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.75 204.57 Td (1,572.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.15 204.57 Td (45) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.80 204.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.00 204.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 518.75 204.57 Td (1,083.2) Tj ET Q
BT /F4 10.00 Tf ET
q 0 0 0 rg BT 52.00 189.41 Td (n/m - Not meaningful) 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 (32) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.60 Td (Advertising Related Revenue) 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 50.00 715.20 Td (major subscription-based magazines for the last three fiscal years:) Tj ET Q
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451.00 647.50 5.00 -15.00 re f
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352.00 617.50 45.00 -15.00 re f
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397.00 617.50 4.00 -15.00 re f
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401.00 617.50 50.00 -15.00 re f
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451.00 617.50 5.00 -15.00 re f
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456.00 617.50 45.00 -15.00 re f
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501.00 617.50 4.00 -15.00 re f
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505.00 617.50 50.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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56.00 587.50 241.00 -15.00 re f
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297.00 587.50 50.00 -15.00 re f
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401.00 587.50 50.00 -15.00 re f
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451.00 587.50 5.00 -15.00 re f
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456.00 587.50 45.00 -15.00 re f
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501.00 587.50 4.00 -15.00 re f
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505.00 587.50 50.00 -15.00 re f
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352.00 556.50 45.00 -16.00 re f
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397.00 556.50 4.00 -16.00 re f
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401.00 556.50 50.00 -16.00 re f
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451.00 556.50 5.00 -16.00 re f
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456.00 556.50 45.00 -16.00 re f
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501.00 556.50 4.00 -16.00 re f
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505.00 556.50 50.00 -16.00 re f
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 440.37 Td (335) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.95 440.37 Td (\(10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 440.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 440.37 Td (371) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.95 440.37 Td (\(16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.65 440.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 440.37 Td (440) Tj ET Q
BT /F4 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.50 425.37 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 425.37 Td (334) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 374.45 425.37 Td (\(8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 425.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 425.37 Td (362) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.95 425.37 Td (\(13) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.65 425.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 425.37 Td (416) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 58.50 410.36 Td (Allr) Tj ET Q
q 0 0 0 rg BT 75.41 410.36 Td (ecipes) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 103.75 410.37 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 410.37 Td (278) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 374.45 410.37 Td (\(4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 410.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 410.37 Td (289) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.45 410.37 Td (\(3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.65 410.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 410.37 Td (299) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 58.50 395.36 Td (Cooking Light ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
q 0 0 0 rg BT 124.51 400.35 Td (1, 2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 136.75 395.37 Td (.........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 395.37 Td (249) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 372.65 395.37 Td (20) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.25 395.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 395.37 Td (208) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 395.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 395.37 Td (�) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 58.50 380.36 Td (W) Tj ET Q
q 0 0 0 rg BT 66.65 380.36 Td (ood) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 84.50 380.37 Td (............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.25 380.37 Td (213) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 374.45 380.37 Td (\(2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 380.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 380.37 Td (217) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.15 380.37 Td (5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.30 380.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 380.37 Td (206) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 58.50 365.36 Td (Coastal Living ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
q 0 0 0 rg BT 126.34 370.35 Td (1, 4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 139.50 365.37 Td (........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.80 365.37 Td (64) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.95 365.37 Td (\(45) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 365.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 365.37 Td (1) Tj ET Q
q 0 0 0 rg BT 435.75 365.37 Td (17) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.65 365.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.80 365.37 Td (�) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 58.50 350.36 Td (FamilyFun ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
q 0 0 0 rg BT 110.13 355.35 Td (3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 114.75 350.37 Td (.................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.80 350.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 363.45 350.37 Td (\(100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 350.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.25 350.37 Td (183) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.95 350.37 Td (\(42) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.65 350.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 350.37 Td (317) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 58.50 335.36 Td (Fit Pr) Tj ET Q
q 0 0 0 rg BT 84.67 335.36 Td (egnancy and Baby / ) Tj ET Q
q 0 0 0 rg BT 174.28 335.36 Td (American Baby ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
q 0 0 0 rg BT 245.15 340.35 Td (5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.50 335.37 Td (................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.80 335.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 363.45 335.37 Td (\(100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.65 335.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.80 335.37 Td (91) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.95 335.37 Td (\(60) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.65 335.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.25 335.37 Td (229) Tj ET Q
BT /F4 9.00 Tf ET
BT /F4 5.85 Tf ET
q 0 0 0 rg BT 58.50 324.03 Td (1) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 61.42 319.95 Td ( Since date of acquisition in fiscal 2018) Tj ET Q
BT /F4 9.00 Tf ET
BT /F4 5.85 Tf ET
q 0 0 0 rg BT 58.50 310.83 Td (2) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 61.42 306.75 Td ( Mer) Tj ET Q
q 0 0 0 rg BT 80.58 306.75 Td (ged into EatingW) Tj ET Q
q 0 0 0 rg BT 142.75 306.75 Td (ell effective January 2019 and became a special inter) Tj ET Q
q 0 0 0 rg BT 334.85 306.75 Td (est newsstand-only title in fiscal 2019) Tj ET Q
BT /F4 9.00 Tf ET
BT /F4 5.85 Tf ET
q 0 0 0 rg BT 58.50 297.83 Td (3 ) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 64.35 293.75 Td (Family Fun became a newsstand only title during fiscal 2019) Tj ET Q
BT /F4 9.00 Tf ET
BT /F4 5.85 Tf ET
q 0 0 0 rg BT 58.50 284.83 Td (4 ) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 64.35 280.75 Td (Coastal Living became a seasonal publication for newsstand only effective Mar) Tj ET Q
q 0 0 0 rg BT 350.98 280.75 Td (ch 2019, ) Tj ET Q
BT /F4 9.00 Tf ET
BT /F4 5.85 Tf ET
q 0 0 0 rg BT 58.50 271.83 Td (5 ) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 62.89 267.75 Td ( Included as a featur) Tj ET Q
q 0 0 0 rg BT 137.04 267.75 Td (e in Par) Tj ET Q
q 0 0 0 rg BT 165.70 267.75 Td (ents, rather than published as a standalone title, effective February 2018) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 237.60 Td (National media advertising related revenue includes all advertising in Meredith owned publications and on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 224.40 Td (Meredith owned websites as well as revenue we generate selling advertising space on third-party platforms. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 211.20 Td (National media advertising related revenue increased 48 percent in fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 400.44 211.20 Td (The increase in print advertising is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 198.00 Td (primarily due to the addition of print advertising revenues of ) Tj ET Q
q 0 0 0 rg BT 319.23 198.00 Td (T) Tj ET Q
q 0 0 0 rg BT 325.56 198.00 Td (ime partially of) Tj ET Q
q 0 0 0 rg BT 393.18 198.00 Td (fset by a 10 percent decline in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 184.80 Td (comparative print advertising revenues. ) Tj ET Q
q 0 0 0 rg BT 226.25 184.80 Td (Approximately 30 percent of the decline in comparative print advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 171.60 Td (revenue was due to previously announced changes to the marketing of ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 361.87 171.60 Td (Fit Pr) Tj ET Q
q 0 0 0 rg BT 388.05 171.60 Td (egnancy and Baby) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.29 171.60 Td ( and ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 490.68 171.60 Td (Family Fun ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 158.40 Td (magazines. ) Tj ET Q
q 0 0 0 rg BT 101.72 158.40 Td (While the women�) Tj ET Q
q 0 0 0 rg BT 182.98 158.40 Td (s service category of titles saw a slight increase in print advertising revenues, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 145.20 Td (lifestyle and parenthood categories saw decline. Digital advertising increased primarily due to the addition of digital ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 132.00 Td (advertising revenues of ) Tj ET Q
q 0 0 0 rg BT 155.18 132.00 Td (T) Tj ET Q
q 0 0 0 rg BT 161.51 132.00 Td (ime. Comparative digital advertising revenues increased 14 percent in fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 525.72 132.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 118.80 Td (increase in third party sales was primarily due to the addition of ) Tj ET Q
q 0 0 0 rg BT 333.28 118.80 Td (T) Tj ET Q
q 0 0 0 rg BT 339.61 118.80 Td (ime.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 92.40 Td (Advertising related revenues increased 49 percent in fiscal 2018 primarily due to the addition of advertising related ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 79.20 Td (revenues of ) Tj ET Q
q 0 0 0 rg BT 103.56 79.20 Td (T) Tj ET Q
q 0 0 0 rg BT 109.89 79.20 Td (ime. ) Tj ET Q
q 0 0 0 rg BT 131.68 79.20 Td (The increase in print advertising is primarily due to the addition of print advertising revenues of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 66.00 Td (T) Tj ET Q
q 0 0 0 rg BT 56.33 66.00 Td (ime partially of) Tj ET Q
q 0 0 0 rg BT 123.94 66.00 Td (fset by a low-double digit percentage decline in comparative print advertising revenues as most ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 52.80 Td (titles experienced declines in fiscal 2018. Digital advertising increased primarily due to the addition of digital ) Tj ET Q
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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 /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (advertising revenues of ) Tj ET Q
q 0 0 0 rg BT 155.18 741.40 Td (T) Tj ET Q
q 0 0 0 rg BT 161.51 741.40 Td (ime. Comparative digital advertising revenues were flat in fiscal 2018. ) Tj ET Q
q 0 0 0 rg BT 474.11 741.40 Td (The increase in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (third party sales was due to the addition of ) Tj ET Q
q 0 0 0 rg BT 239.51 728.20 Td (T) Tj ET Q
q 0 0 0 rg BT 245.84 728.20 Td (ime.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (Consumer Related Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (Consumer related revenue includes all revenues either driven by or otherwise linked to consumer buying decisions. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (Consumer related revenues increased 66 percent in fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 330.81 675.40 Td (The increases in subscription and newsstand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (revenues are primarily due to the addition of subscription revenues of ) Tj ET Q
q 0 0 0 rg BT 358.62 662.20 Td (T) Tj ET Q
q 0 0 0 rg BT 364.96 662.20 Td (ime partially of) Tj ET Q
q 0 0 0 rg BT 432.57 662.20 Td (fset by approximately 10 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (percent declines in comparative subscription and newsstand revenues. Digital consumer driven revenue increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (primarily due to the growth in e-commerce revenues. ) Tj ET Q
q 0 0 0 rg BT 286.52 635.80 Td (The increases in the remaining categories of consumer related ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (revenue are primarily due to the addition of ) Tj ET Q
q 0 0 0 rg BT 244.06 622.60 Td (T) Tj ET Q
q 0 0 0 rg BT 250.40 622.60 Td (ime revenues.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (Consumer related revenues increased 60 percent in fiscal 2018. ) Tj ET Q
q 0 0 0 rg BT 330.81 596.20 Td (The increases in subscription and newsstand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (revenues are primarily due to the addition of subscription revenues of ) Tj ET Q
q 0 0 0 rg BT 358.62 583.00 Td (T) Tj ET Q
q 0 0 0 rg BT 364.96 583.00 Td (ime partially of) Tj ET Q
q 0 0 0 rg BT 432.57 583.00 Td (fset by a $16.4 million ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (decline in comparative subscription revenues and a $6.5 million decline in comparative newsstand revenues. Digital ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (consumer driven revenue increased primarily due to the growth in e-commerce revenues. ) Tj ET Q
q 0 0 0 rg BT 444.73 556.60 Td (The increases in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (remaining categories of consumer related revenue are primarily due to the addition of ) Tj ET Q
q 0 0 0 rg BT 428.84 543.40 Td (T) Tj ET Q
q 0 0 0 rg BT 435.18 543.40 Td (ime revenues.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (Other Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (Fiscal 2019 other revenues decreased 32 percent primarily due to declines of $83.6 million in MXM revenues due ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (to the sale of MXM in fiscal 2018 partially of) Tj ET Q
q 0 0 0 rg BT 250.51 490.60 Td (fset by the addition of other revenues from ) Tj ET Q
q 0 0 0 rg BT 440.92 490.60 Td (T) Tj ET Q
q 0 0 0 rg BT 447.25 490.60 Td (ime of $20.4 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (Other revenues decreased 7 percent in fiscal 2018 primarily due to declines of $27.2 million in MXM revenues, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (primarily due to the sale of MXM in the fourth quarter of fiscal 2018 and of $10.0 million due to the sale of a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (minority stake in Charleston ) Tj ET Q
q 0 0 0 rg BT 177.50 437.80 Td (T) Tj ET Q
q 0 0 0 rg BT 183.46 437.80 Td (ennis at the beginning fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 336.92 437.80 Td (These declines were partially of) Tj ET Q
q 0 0 0 rg BT 477.21 437.80 Td (fset by the addition ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (of other revenues from ) Tj ET Q
q 0 0 0 rg BT 153.04 424.60 Td (T) Tj ET Q
q 0 0 0 rg BT 159.37 424.60 Td (ime of $32.4 million.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (National Media Costs and Expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (Fiscal 2019 national media costs and expenses increased 48 percent primarily due to the addition of ) Tj ET Q
q 0 0 0 rg BT 490.90 371.80 Td (T) Tj ET Q
q 0 0 0 rg BT 497.23 371.80 Td (ime operating ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (costs and expenses of $767.4 million and an increase in employee compensation and related costs of $24.0 million ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (partially of) Tj ET Q
q 0 0 0 rg BT 98.37 345.40 Td (fset by a decrease in operating expenses of MXM of $86.9 million and a reduction in circulation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (expenses of $18.2 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (National media costs and expenses increased 54 percent in fiscal 2018 primarily due to the addition of ) Tj ET Q
q 0 0 0 rg BT 502.19 305.80 Td (T) Tj ET Q
q 0 0 0 rg BT 508.52 305.80 Td (ime ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 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 50.00 279.40 Td (to previously accrued contingent consideration payable of $15.0 million. ) Tj ET Q
q 0 0 0 rg BT 372.08 279.40 Td (These increases were partially of) Tj ET Q
q 0 0 0 rg BT 516.64 279.40 Td (fset by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (declines in circulation expenses of $22.7 million, decreases in employee compensation costs of $18.4 million, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (declines in paper expense of $1) Tj ET Q
q 0 0 0 rg BT 187.96 253.00 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 50.00 239.80 Td (in performance-based incentive accruals of $7.1 million.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (National Media ) Tj ET Q
q 0 0 0 rg BT 125.17 213.40 Td (Acquisition, Disposition, and Restructuring Related ) Tj ET Q
q 0 0 0 rg BT 369.95 213.40 Td (Activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (Fiscal 2019 national media acquisition, disposition, and restructuring related activities increased 26 percent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (primarily due to an increase in integration costs of $21.8 million partially of) Tj ET Q
q 0 0 0 rg BT 384.30 173.80 Td (fset by a decrease in severance and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (related benefit expenses of $12.3 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 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 50.00 121.00 Td (2017 to $43.1 million in fiscal 2018 primarily due to an increase in the severance and benefits related expenses of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td ($46.7 million partially of) Tj ET Q
q 0 0 0 rg BT 160.40 107.80 Td (fset by a gain related to the sale of MXM of $1) Tj ET Q
q 0 0 0 rg BT 366.79 107.80 Td (1.5 million, which was recorded as a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (reduction in expenses.) Tj ET Q
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q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.60 Td (National Media Impairment of Long-Lived ) Tj ET Q
q 0 0 0 rg BT 254.42 741.60 Td (Assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (The national media segment recorded pre-tax, non-cash impairment char) Tj ET Q
q 0 0 0 rg BT 369.59 715.20 Td (ges of $41.8 million in fiscal 2019 and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td ($22.7 million in fiscal 2018 related to trademarks.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (National Media Operating Pr) Tj ET Q
q 0 0 0 rg BT 188.20 675.60 Td (ofit) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.20 Td (Fiscal 2019 national media operating profit grew to $126.0 million primarily due to operating income from ) Tj ET Q
q 0 0 0 rg BT 523.61 649.20 Td (T) Tj ET Q
q 0 0 0 rg BT 529.94 649.20 Td (ime of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td ($79.1 million and an increase in the profit contribution of our digital consumer products operations of $7.6 million ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (partially of) Tj ET Q
q 0 0 0 rg BT 98.37 622.80 Td (fset by a $33.9 million decrease in the profit contribution of our magazine operations and an increase in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (the impairment of trademarks of $19.1 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.20 Td (National media operating profit decreased to $85.0 million in fiscal 2018. ) Tj ET Q
q 0 0 0 rg BT 376.35 583.20 Td (The decline was primarily due to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 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 50.00 556.80 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 50.00 543.60 Td (consideration payable of $15.0 million partially of) Tj ET Q
q 0 0 0 rg BT 271.27 543.60 Td (fset by an increase in operating income from ) Tj ET Q
q 0 0 0 rg BT 470.22 543.60 Td (T) Tj ET Q
q 0 0 0 rg BT 476.56 543.60 Td (ime of $14.4 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (million.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td (LOCAL) Tj ET Q
q 0 0 0 rg BT 88.51 490.80 Td ( MEDIA) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (The following discussion reviews operating results for the Company�) Tj ET Q
q 0 0 0 rg BT 354.28 464.40 Td (s local media segment, which consists of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 536.35 464.40 Td (17) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 547.35 464.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.20 Td (television stations and related digital and mobile media. ) Tj ET Q
q 0 0 0 rg BT 298.16 451.20 Td (W) Tj ET Q
q 0 0 0 rg BT 308.10 451.20 Td (ith the acquisition of ) Tj ET Q
q 0 0 0 rg BT 401.38 451.20 Td (T) Tj ET Q
q 0 0 0 rg BT 407.71 451.20 Td (ime, the local media segment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 438.00 Td (acquired MNI, which generates revenue through the sale of geographic and demographic-tar) Tj ET Q
q 0 0 0 rg BT 456.63 438.00 Td (geted digital and print ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.80 Td (advertising programs sold to third parties. ) Tj ET Q
q 0 0 0 rg BT 236.46 424.80 Td (The local media segment contributed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.32 424.80 Td (27 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.44 424.80 Td ( of Meredith�) Tj ET Q
q 0 0 0 rg BT 506.48 424.80 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.60 Td (consolidated revenues in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.49 411.60 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 210.06 411.60 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.45 411.60 Td (69 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 277.56 411.60 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 50.00 398.40 Td (media operations in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 139.50 398.40 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.07 398.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 372.00 Td (Fiscal 2019 local media revenues rose 25 percent and operating profit grew 49 percent primarily reflecting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (increased cyclical political advertising and higher retransmission consent revenues.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.40 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 50.00 319.20 Td (increase in consumer related revenues more than of) Tj ET Q
q 0 0 0 rg BT 276.12 319.20 Td (fset a $46.4 million reduction in political advertising, which is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (expected in a non-political year) Tj ET Q
q 0 0 0 rg BT 188.05 306.00 Td (. Local media operating profit declined 12 percent in fiscal 2018.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (Local media operating results for the last three fiscal years were as follows:) Tj ET Q
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512.50 196.90 4.00 -15.00 re f
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516.50 196.90 45.00 -15.00 re f
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379.50 166.90 40.00 -15.00 re f
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419.50 166.90 4.00 -15.00 re f
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 246.58 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 246.58 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 351.00 246.58 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 387.20 246.58 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 445.00 246.58 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 480.20 246.58 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 538.00 246.58 Td (2017) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 232.25 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 216.77 Td (Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.00 216.77 Td (....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.00 216.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.50 216.77 Td (863.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.80 216.77 Td (25) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.80 216.77 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.00 216.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.50 216.77 Td (693.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.10 216.77 Td (10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.80 216.77 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.00 216.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 216.77 Td (630.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 201.77 Td (Operating expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.00 186.77 Td (Costs and expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.50 186.77 Td (..................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 341.85 186.77 Td (\(584.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.30 186.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.80 186.77 Td (16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.80 186.77 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.85 186.77 Td (\(505.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.30 186.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.10 186.77 Td (21) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.80 186.77 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 528.85 186.77 Td (\(416.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 186.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 58.00 171.77 Td (Acquisition, disposition, and restructuring related activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.50 171.77 Td (..) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 352.85 171.77 Td (\(1.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.30 171.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.80 171.77 Td (33) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.80 171.77 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 446.85 171.77 Td (\(0.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.30 171.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.45 171.77 Td (\(47) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.15 171.77 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 171.77 Td (\(1.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 171.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 156.77 Td (Operating profit) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.25 156.77 Td (.........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.00 156.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.50 156.77 Td (278.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.80 156.77 Td (49) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.80 156.77 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.00 156.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.50 156.77 Td (186.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.45 156.77 Td (\(12) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.15 156.77 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.00 156.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 156.77 Td (21) Tj ET Q
q 0 0 0 rg BT 543.50 156.77 Td (1.6) Tj ET Q
BT /F2 10.00 Tf ET
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q 0 0 0 rg BT 301.00 31.60 Td (35) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.60 Td (Local 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
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 681.18 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 681.18 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 351.00 681.18 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 387.20 681.18 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 445.00 681.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 476.20 681.18 Td (Change) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 538.00 681.18 Td (2017) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 666.95 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 652.37 Td (Advertising related) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 637.37 Td (Non-political spot) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.50 637.37 Td (..................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.00 637.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.50 637.37 Td (323.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 396.95 637.37 Td (\(3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.15 637.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.00 637.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.50 637.37 Td (333.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 493.65 637.37 Td (2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.80 637.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.00 637.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.05 637.37 Td (327.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 622.37 Td (Political spot) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.50 622.37 Td (..........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.50 622.37 Td (102.9) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 399.50 622.36 Td (n/m) Tj ET Q
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q 0 0 0 rg BT 445.00 622.37 Td (16.1) Tj ET Q
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q 0 0 0 rg BT 484.45 622.37 Td (\(74) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.15 622.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 622.37 Td (62.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 607.37 Td (Digital) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.00 607.37 Td (....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 351.00 607.37 Td (15.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 400.65 607.37 Td (4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.75 607.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 445.00 607.37 Td (15.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.95 607.37 Td (\(2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.15 607.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 607.37 Td (15.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 592.37 Td (Third party sales) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 139.00 592.37 Td (....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 351.00 592.37 Td (96.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.10 592.37 Td (86) 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 445.00 592.37 Td (51.7) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 492.50 592.36 Td (n/m) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 592.37 Td (8.4) Tj ET Q
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q 0 0 0 rg BT 76.00 577.37 Td (T) Tj ET Q
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q 0 0 0 rg BT 183.00 577.37 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.50 577.37 Td (538.2) 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 409.75 577.37 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
q 0 0 0 rg BT 502.80 577.37 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
q 0 0 0 rg BT 130.75 562.37 Td (.......................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.50 562.37 Td (316.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.10 562.37 Td (17) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.75 562.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.50 562.37 Td (270.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.10 562.37 Td (30) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.80 562.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.05 562.37 Td (207.7) 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 /F4 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 478.95 532.37 Td (\(100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.15 532.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 532.37 Td (4.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 517.37 Td (Other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 517.37 Td (......................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.50 517.37 Td (9.1) 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 409.75 517.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 517.37 Td (5.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.10 517.37 Td (25) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.80 517.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 517.37 Td (4.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 76.00 502.37 Td (T) Tj ET Q
q 0 0 0 rg BT 81.95 502.37 Td (otal other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.25 502.37 Td (.........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.50 502.37 Td (9.1) 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 409.75 502.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 502.37 Td (5.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.45 502.37 Td (\(35) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.15 502.37 Td (\)%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 502.37 Td (8.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 487.37 Td (T) Tj ET Q
q 0 0 0 rg BT 57.95 487.37 Td (otal revenues) 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 332.00 487.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.50 487.37 Td (863.8) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.75 487.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.00 487.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.50 487.37 Td (693.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.10 487.37 Td (10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.80 487.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.00 487.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.05 487.37 Td (630.1) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 471.95 Td (n/m - Not meaningful) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 441.60 Td (Local media revenues increased 25 percent in fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 307.17 441.60 Td (Advertising related revenues increased 29 percent. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 428.40 Td (Political advertising revenues increased primarily due to the November 2018 elections. Political spot advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 415.20 Td (revenues totaled $102.9 million in the current fiscal year compared with $16.1 million in the prior year) Tj ET Q
q 0 0 0 rg BT 502.10 415.20 Td (. Fluctuations ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 402.00 Td (in political spot advertising revenues at our stations and throughout the broadcasting industry generally follow the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 388.80 Td (biennial cycle of election campaigns. Political spot advertising displaces a certain amount of non-political spot ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 375.60 Td (advertising; therefore, the revenues are not entirely incremental. Non-political spot advertising revenues decreased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 362.40 Td (3 percent in fiscal 2019, due primarily to political spot advertising displacement. Local non-political advertising ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 349.20 Td (revenues declined 5 percent and national non-political advertising revenues decreased 3 percent in fiscal 2019. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 336.00 Td (Digital advertising revenues increased slightly as compared to the prior year) Tj ET Q
q 0 0 0 rg BT 384.78 336.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 390.08 336.00 Td (Third party sales represent revenue ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 322.80 Td (generated through selling advertising space on third-party platforms. ) Tj ET Q
q 0 0 0 rg BT 354.35 322.80 Td (Third party sales increased primarily due to ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 182.68 309.60 Td (T) Tj ET Q
q 0 0 0 rg BT 189.01 309.60 Td (ime.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 283.20 Td (Local media revenues increased 10 percent in fiscal 2018. ) Tj ET Q
q 0 0 0 rg BT 307.17 283.20 Td (Advertising related revenues increased 1 percent. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 270.00 Td (Political spot advertising revenues totaled $16.1 million in fiscal 2018 compared to $62.5 million in fiscal 2017. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 256.80 Td (Non-political spot advertising revenues increased 2 percent in fiscal 2018. Local non-political advertising revenues ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 243.60 Td (increased 1 percent in fiscal 2018 while national non-political advertising revenues increased 2 percent in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 230.40 Td (2018. Digital advertising decreased slightly as compared to fiscal 2017. ) Tj ET Q
q 0 0 0 rg BT 367.50 230.40 Td (Third party sales increased primarily due to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 217.20 Td (the addition of revenues from ) Tj ET Q
q 0 0 0 rg BT 182.68 217.20 Td (T) Tj ET Q
q 0 0 0 rg BT 189.01 217.20 Td (ime.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 190.80 Td (Consumer related revenues represent retransmission consent fees from cable, satellite, and telecommunications ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 177.60 Td (operators. Consumer related revenues increased in fiscal 2019 and fiscal 2018 primarily due to renegotiated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 164.40 Td (contracts.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 138.00 Td (Fiscal 2019 other revenues increased 65 percent primarily due to an increase in closed captioning revenues. Other ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 98.40 Td (Local Media Operating Expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 72.00 Td (Fiscal 2019 operating expenses increased 16 percent primarily due to the addition of operating expenses from ) Tj ET Q
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q 0 0 0 rg BT 541.21 72.00 Td (ime ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 58.80 Td (of $44.6 million and the addition of higher programming fees paid to af) Tj ET Q
q 0 0 0 rg BT 364.76 58.80 Td (filiated networks of $30.5 million. Local ) Tj ET Q
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q 0 0 0 rg BT 301.00 31.60 Td (36) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (media operating expenses increased 21 percent in fiscal 2018 primarily due to higher programming fees paid to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (af) Tj ET Q
q 0 0 0 rg BT 58.35 728.20 Td (filiated networks of $53.8 million and the addition of operating expenses from ) Tj ET Q
q 0 0 0 rg BT 405.49 728.20 Td (T) Tj ET Q
q 0 0 0 rg BT 411.82 728.20 Td (ime of $37.8 million.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (Local Media Operating Pr) Tj ET Q
q 0 0 0 rg BT 174.14 701.80 Td (ofit) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (Fiscal 2019 local media operating profit increased 49 percent primarily due to the increase in higher) Tj ET Q
q 0 0 0 rg BT 489.93 675.40 Td (-mar) Tj ET Q
q 0 0 0 rg BT 510.50 675.40 Td (gin ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (political spot advertising revenues. Local media operating profit decreased 12 percent in fiscal 2018 primarily due ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (to lower political advertising revenues due to the cyclical nature of political advertising partially of) Tj ET Q
q 0 0 0 rg BT 485.38 649.00 Td (fset by increased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (retransmission-related profit.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (UNALLOCA) 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 174.43 455.80 Td (filiated networks of $30.5 million. ) Tj ET Q
q 0 0 0 rg BT 327.90 455.80 Td (These increases were partially of) Tj ET Q
q 0 0 0 rg BT 472.46 455.80 Td (fset by declines in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 442.60 Td (production, distribution, and editorial expenses of MXM of $26.9 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 416.20 Td (Production, distribution, and editorial costs increased 43 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 50.00 403.00 Td (production, distribution, and editorial costs of ) Tj ET Q
q 0 0 0 rg BT 253.88 403.00 Td (T) Tj ET Q
q 0 0 0 rg BT 260.21 403.00 Td (ime of $238.4 million and increases in programming fees paid to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 389.80 Td (af) Tj ET Q
q 0 0 0 rg BT 58.35 389.80 Td (filiated networks of $53.8 million. ) Tj ET Q
q 0 0 0 rg BT 211.82 389.80 Td (These increases were partially of) Tj ET Q
q 0 0 0 rg BT 356.38 389.80 Td (fset by declines in paper costs of $1) Tj ET Q
q 0 0 0 rg BT 513.29 389.80 Td (1.6 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 376.60 Td (million, lower postage and other delivery costs of $10.0 million, and a decrease in payroll and related costs of $6.5 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 363.40 Td (million.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 337.00 Td (Selling, General, and ) Tj ET Q
q 0 0 0 rg BT 148.91 337.00 Td (Administrative Expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 323.80 Td (Fiscal 2019 selling, general, and administrative expenses increased 37 percent primarily due to an increase in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 310.60 Td (selling, general, and administrative expenses of ) Tj ET Q
q 0 0 0 rg BT 261.18 310.60 Td (T) Tj ET Q
q 0 0 0 rg BT 267.51 310.60 Td (ime in our national and local media segments of $406.0 million. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 297.40 Td (These increases were partially of) Tj ET Q
q 0 0 0 rg BT 194.56 297.40 Td (fset by a decrease in selling, general, and administrative expenses of MXM of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 284.20 Td ($60.0 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 257.80 Td (Selling, general, and administrative expenses increased 36 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 50.00 244.60 Td (selling, general, and administrative expenses of ) Tj ET Q
q 0 0 0 rg BT 261.18 244.60 Td (T) Tj ET Q
q 0 0 0 rg BT 267.51 244.60 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 50.00 231.40 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 528.16 231.40 Td (fset by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 218.20 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 464.73 218.20 Td (1.7 million, a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 205.00 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 50.00 191.80 Td ($6.1 million.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 165.40 Td (Acquisition, disposition, and restructuring related activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 152.20 Td (Fiscal 2019 acquisition, disposition, and restructuring related activities expense primarily includes $51.5 million of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 139.00 Td (severance and related benefit costs and $64.6 million of integration costs primarily for business advisors and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 125.80 Td (software and systems implementations and modifications, and a credit for a gain on the sale of the Company's 30 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 112.60 Td (percent interest in Charleston ) Tj ET Q
q 0 0 0 rg BT 181.76 112.60 Td (T) Tj ET Q
q 0 0 0 rg BT 187.71 112.60 Td (ennis of $6.4 million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 86.20 Td (Fiscal 2018 acquisition, disposition, and restructuring related activities expense primarily includes $104.9 million ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 73.00 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 59.80 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 46.60 Td (software and systems implementations and modifications, and a credit for a gain on the sale of MXM of $1) Tj ET Q
q 0 0 0 rg BT 520.95 46.60 Td (1.5 ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (million. 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 50.00 728.20 Td (severance and related benefit costs.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (Depreciation and ) Tj ET Q
q 0 0 0 rg BT 130.87 701.80 Td (Amortization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (The increases in fiscal 2019 depreciation and amortization expense and in fiscal 2018 depreciation and amortization ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (expense are primarily due to the addition of ) Tj ET Q
q 0 0 0 rg BT 244.68 675.40 Td (T) Tj ET Q
q 0 0 0 rg BT 251.01 675.40 Td (ime�) Tj ET Q
q 0 0 0 rg BT 270.56 675.40 Td (s depreciation and amortization expense.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (Impairment of Long-lived ) Tj ET Q
q 0 0 0 rg BT 169.67 649.00 Td (Assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (The impairment of long-lived assets recorded in each of the three fiscal years related primarily to pre-tax, non-cash ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (impairments of trademarks in the national media segment.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (Operating Expenses) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 290.51 583.00 Td (gest component of our operating expenses in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.99 583.00 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.56 583.00 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (Employee compensation represented ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 214.63 569.80 Td (26 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 260.75 569.80 Td ( of total operating expenses in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.77 569.80 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 444.34 569.80 Td (, compared to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.26 569.80 Td (38 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 553.38 569.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 61.31 556.60 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.88 556.60 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 134.01 556.60 Td (34 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 180.13 556.60 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 194.18 556.60 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 242.75 556.60 Td (. National media paper) Tj ET Q
q 0 0 0 rg BT 342.49 556.60 Td (, production, and postage combined expense was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (the second lar) Tj ET Q
q 0 0 0 rg BT 110.89 543.40 Td (gest component of our operating costs in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.66 543.40 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 341.23 543.40 Td (, representing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 403.84 543.40 Td (15 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 449.96 543.40 Td ( of the total. ) Tj ET Q
q 0 0 0 rg BT 505.66 543.40 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (expenses were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.58 530.20 Td (14 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 162.70 530.20 Td ( of total operating expense in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.43 530.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 342.00 530.20 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 363.39 530.20 Td (18 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.50 530.20 Td ( of total operating expense in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.57 517.00 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (Income fr) Tj ET Q
q 0 0 0 rg BT 95.92 490.60 Td (om Operations) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (Fiscal 2019 income from operations increased primarily due to the increase in operating profit of our local media ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (segment of $91.7 million resulting from the cyclical nature of political advertising, the addition of operating income ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (from ) Tj ET Q
q 0 0 0 rg BT 73.93 437.80 Td (T) Tj ET Q
q 0 0 0 rg BT 80.27 437.80 Td (ime of $79.7 million, and a reduction in acquisition, disposition, and restructuring related activities of $69.2 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (million.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (Income from operations decreased 72 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 50.00 385.00 Td (and restructuring related activities of $159.8 million, lower operating profit in our local media operations of $24.9 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 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 50.00 358.60 Td (adjustment related to previously accrued contingent consideration payable of $15.0 million.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (Non-operating Income, net) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (The increase in fiscal 2019 non-operating income, net related primarily to our pension and other postretirement ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (plans benefit credit and a gain on the sale of the Company's 30 percent interest in Charleston ) Tj ET Q
q 0 0 0 rg BT 460.19 292.60 Td (T) Tj ET Q
q 0 0 0 rg BT 466.14 292.60 Td (ennis, which was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (sold in September 2018.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (Fiscal 2018 non-operating income, net related primarily to our pension and other postretirement plans benefit credit ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (mostly of) Tj ET Q
q 0 0 0 rg BT 91.66 239.80 Td (fset by the write-down of an equity method investment to fair value as the investee was sold to an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (unrelated third-party in ) Tj ET Q
q 0 0 0 rg BT 154.16 226.60 Td (April 2018.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (Inter) Tj ET Q
q 0 0 0 rg BT 73.63 200.20 Td (est Expense, net) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (Net interest expense was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.79 173.80 Td ($170.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.57 173.80 Td ( in fiscal 2019, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 294.70 173.80 Td ($97.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 353.98 173.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.04 173.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.61 173.80 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.74 173.80 Td ($18.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.02 173.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.08 173.80 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 160.60 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 308.56 160.60 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.62 160.60 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.19 160.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.69 160.60 Td ($1.9 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.41 160.60 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.47 160.60 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 490.04 160.60 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.17 160.60 Td ($678.1 ) 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 81.78 147.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.84 147.40 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.41 147.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 149.71 147.40 Td (The Company�) Tj ET Q
q 0 0 0 rg BT 215.39 147.40 Td (s approximate weighted average interest rate was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.38 147.40 Td (7.1 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.25 147.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.30 147.40 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 545.88 147.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (5.1 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.87 134.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 112.92 134.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.49 134.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 185.63 134.20 Td (2.8 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 234.49 134.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 248.55 134.20 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 297.12 134.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 302.42 134.20 Td (The weighted average interest rates include the ef) Tj ET Q
q 0 0 0 rg BT 520.59 134.20 Td (fects of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (extinguishment losses during fiscal 2019 and 2018, and derivative financial instruments until their termination in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (January 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 240.92 81.40 Td ($10.9 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
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q 0 0 0 rg BT 164.52 55.00 Td (T) Tj ET Q
q 0 0 0 rg BT 170.85 55.00 Td (ime, the Company repaid and terminated Meredith's existing indebtedness. In ) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 164.35 741.40 Td (f of this indebtedness, Meredith recognized a loss on extinguishment of debt of $2.2 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (million. In conjunction with the repayment of its debt, the Company also settled the associated interest rate swap ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (agreements and recognized a gain on the settlement of $1.6 million. In addition, the Company incurred $17.5 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (million in fees that were recorded in interest expense related to an undrawn bridge loan commitment fee.) Tj ET Q
BT /F1 11.00 Tf ET
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q 0 0 0 rg BT 87.38 675.40 Td (T) Tj ET Q
q 0 0 0 rg BT 93.70 675.40 Td (axes) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (In fiscal 2019, the Company recorded income tax expense of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.33 649.00 Td ($1) Tj ET Q
q 0 0 0 rg BT 330.92 649.00 Td (1.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.20 649.00 Td ( for an ef) Tj ET Q
q 0 0 0 rg BT 419.00 649.00 Td (fective rate of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.82 649.00 Td (8.2 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.69 649.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 536.99 649.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (fiscal 2019 ef) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 417.24 635.80 Td ($23.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.52 635.80 Td ( related to write-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (of) Tj ET Q
q 0 0 0 rg BT 58.96 622.60 Td (f of worthless stock and related bad debt. For fiscal 2018, Meredith recorded a tax benefit 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 532.75 622.60 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 298.63 609.40 Td (s deferred tax assets and liabilities and a reduced tax rate as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (a result of the ) Tj ET Q
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q 0 0 0 rg BT 188.74 596.20 Td (This tax benefit was of) 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 104.83 543.40 Td (Act. ) Tj ET Q
q 0 0 0 rg BT 126.01 543.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 145.66 543.40 Td (T) Tj ET Q
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q 0 0 0 rg BT 50.00 530.20 Td (year ended June�30, 2018, including, but not limited to, \(1\) reducing the U.S. federal corporate tax rate, \(2\) bonus ) 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 50.00 503.80 Td (expense and certain executive compensation and \(4\) a one-time transition tax on certain unrepatriated earnings of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (foreign subsidiaries. ) Tj ET Q
q 0 0 0 rg BT 141.75 490.60 Td (The ) Tj ET Q
q 0 0 0 rg BT 161.41 490.60 Td (T) Tj ET Q
q 0 0 0 rg BT 167.36 490.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 216.24 490.60 Td (Act reduced the federal corporate tax rate to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.90 490.60 Td (21 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.02 490.60 Td ( in the fiscal year ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (ended June�30, 2018. ) Tj ET Q
q 0 0 0 rg BT 145.32 477.40 Td (As the Company has a June 30 fiscal year) Tj ET Q
q 0 0 0 rg BT 329.00 477.40 Td (-end, the lower corporate income tax rate was ) Tj ET Q
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q 0 0 0 rg BT 50.00 451.00 Td (of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 61.91 451.00 Td (28 percent) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 469.61 451.00 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 518.49 451.00 Td (Act and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (the number of days in the year) Tj ET Q
q 0 0 0 rg BT 183.35 437.80 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 253.60 437.80 Td ( for subsequent fiscal years.) 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 311.91 398.20 Td (This net benefit primarily consists of a benefit for 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 146.22 358.60 Td (21 percent) 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 207.42 345.40 Td (The transitional impact was finalized during the fiscal year ended June�30, ) 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 50.00 305.80 Td (Ef) Tj ET Q
q 0 0 0 rg BT 60.18 305.80 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
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BT /F2 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 206.98 266.20 Td ($2.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 260.76 266.20 Td ( as a credit to income tax expense in the Consolidated Statements 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 314.26 226.60 Td ( Shar) Tj ET Q
q 0 0 0 rg BT 339.43 226.60 Td (e fr) 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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q 0 0 0 rg BT 121.08 187.00 Td (14.0 million) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 353.45 173.80 Td (fset by the tax benefit recorded in fiscal 2018 ) Tj ET Q
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q 0 0 0 rg BT 384.21 160.60 Td (fects of other participating securities, ) 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 185.95 121.00 Td ($1.79) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 210.70 121.00 Td ( per diluted share\) for 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 238.48 94.60 Td ($1) Tj ET Q
q 0 0 0 rg BT 249.07 94.60 Td (14.0 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 309.26 94.60 Td ($1.79) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 334.01 94.60 Td ( per diluted share\) in fiscal 2018, down 40 percent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 74.13 81.40 Td ($188.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.91 81.40 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 145.33 81.40 Td ($4.16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.08 81.40 Td ( per diluted share\) in fiscal 2017. ) Tj ET Q
q 0 0 0 rg BT 317.72 81.40 Td (The decline in earnings from continuing operations is ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 527.02 68.20 Td (T) Tj ET Q
q 0 0 0 rg BT 532.97 68.20 Td (ax ) Tj ET Q
BT /F2 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 fiscal 2019 loss from discontinued operations represents the operating results of the ) Tj ET Q
q 0 0 0 rg BT 439.90 715.20 Td (TIME and Fortune brands ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (until their respective sale dates; the operations of Sports Illustrated as the Company continues to operate the brand ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td (until its second close date, which is expected to be in the first quarter of fiscal 2020, and its related impairment ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (char) Tj ET Q
q 0 0 0 rg BT 68.73 675.60 Td (ge; and the operations of the properties that were held-for) Tj ET Q
q 0 0 0 rg BT 321.72 675.60 Td (-sale as of June�30, 2019, including the FanSided ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 158.45 662.40 Td (s investment in ) Tj ET Q
q 0 0 0 rg BT 227.61 662.40 Td (V) Tj ET Q
q 0 0 0 rg BT 234.89 662.40 Td (iant ) Tj ET Q
q 0 0 0 rg BT 253.94 662.40 Td (T) Tj ET Q
q 0 0 0 rg BT 259.89 662.40 Td (echnology) Tj ET Q
q 0 0 0 rg BT 304.99 662.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td (For fiscal 2018, the loss from discontinued operations represents the operating results of Golf Magazine until the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (date it was sold and the associated loss on its sale; the operating results of ) Tj ET Q
q 0 0 0 rg BT 376.98 622.80 Td (TIUK until the date it was sold and the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (associated loss on its sale; and the operations of the properties that were held-for) Tj ET Q
q 0 0 0 rg BT 404.42 609.60 Td (-sale as of June�30, 2018, including ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 427.61 596.40 Td (s investment in ) Tj ET Q
q 0 0 0 rg BT 496.77 596.40 Td (V) Tj ET Q
q 0 0 0 rg BT 504.05 596.40 Td (iant ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 101.06 583.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.80 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 50.00 543.60 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
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BT /F4 9.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 370.30 603.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.00 603.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 407.50 603.77 Td (415.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 449.00 603.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.85 603.77 Td (\(2.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.30 603.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 115.00 588.77 Td (Cash and cash equivalents) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.00 588.77 Td (................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 325.00 588.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 351.00 588.77 Td (45.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.00 588.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 407.50 588.77 Td (437.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 449.00 588.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 475.00 588.77 Td (22.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 115.00 573.77 Td (T) Tj ET Q
q 0 0 0 rg BT 120.95 573.77 Td (otal long-term debt) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.25 573.77 Td (.........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 337.25 573.77 Td (2,370.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 399.25 573.77 Td (3,195.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.50 573.77 Td (700.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 115.00 558.77 Td (Shareholders�) Tj ET Q
q 0 0 0 rg BT 175.68 558.77 Td ( equity) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.25 558.77 Td (.........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.50 558.77 Td (974.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 399.25 558.77 Td (1,097.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.50 558.77 Td (996.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 115.00 543.77 Td (Debt to total capitalization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 233.75 543.77 Td (...............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 350.80 543.77 Td (71%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.80 543.77 Td (74%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.80 543.77 Td (41%) Tj ET Q
BT /F2 10.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 502.00 Td (OVER) Tj ET Q
q 0 0 0 rg BT 81.39 502.00 Td (VIEW) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 475.60 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 93.38 475.60 Td (s primary source of liquidity is cash generated by operating activities. Debt financing is typically used for ) Tj ET Q
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, 2019) 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 ($31) Tj ET Q
q 0 0 0 rg BT 192.27 330.40 Td (1.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 240.55 330.40 Td ( available under our revolving credit facility) Tj ET Q
q 0 0 0 rg BT 434.09 330.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 439.39 330.40 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 decreased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 214.63 251.20 Td ($392.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 279.41 251.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.47 251.20 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 342.04 251.20 Td (; they increased) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
411.06 258.83 2.75 -10.00 re f
/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 ($415.4 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
478.59 258.83 14.06 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 478.59 251.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.65 251.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
541.22 258.83 21.38 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 541.22 251.20 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 245.63 46.11 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 238.00 Td (decreased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 96.11 238.00 Td ($2.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 149.89 238.00 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.94 238.00 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 212.51 238.00 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
q 0 0 0 rg BT 50.00 198.40 Td (Operating ) Tj ET Q
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 (related revenue accounted for 50 percent or more of total revenues in each of the past three fiscal years. Other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 145.60 Td (sources of operating cash inflows include cash received from magazine circulation sales, retransmission consent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 132.40 Td (fees, af) Tj ET Q
q 0 0 0 rg BT 81.56 132.40 Td (finity marketing, brand licensing, and product sales. Operating cash outflows include payments to vendors ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 119.20 Td (and employees and payments of interest and income taxes. Our most significant vendor payments are for production ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 106.00 Td (and delivery of publications and promotional mailings, network programming fees, employee benefits \(including ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 92.80 Td (pension plans\), broadcast programming rights, and other services and supplies.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 66.40 Td (Cash provided by operating activities totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.78 66.40 Td ($245.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.56 66.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.62 66.40 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.19 66.40 Td ( compared with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.36 66.40 Td ($149.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.14 66.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.20 66.40 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 53.20 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 53.20 Td (. ) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 77.50 53.20 Td (T) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 83.61 53.20 Td (he increase in cash provided by operating activities was primarily due to increased earnings in our local ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (42) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (media segment primarily due to increased political spot advertising and a reduction in transaction costs. ) Tj ET Q
q 0 0 0 rg BT 508.62 741.40 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (increases were partially of) Tj ET Q
q 0 0 0 rg BT 165.55 728.20 Td (fset by increases in cash paid for interest, severance, and integration costs.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (Cash provided by operating activities totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.78 701.80 Td ($149.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.56 701.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.62 701.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.19 701.80 Td ( compared with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.36 701.80 Td ($218.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.14 701.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 527.20 701.80 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 688.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 77.30 688.60 Td (The decrease in cash provided by operating activities was primarily due to the transaction, integration, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (severance-related costs associated with the ) Tj ET Q
q 0 0 0 rg BT 240.69 675.40 Td (T) Tj ET Q
q 0 0 0 rg BT 247.02 675.40 Td (ime acquisition.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (Changes in the Company�) Tj ET Q
q 0 0 0 rg BT 163.96 649.00 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 50.00 635.80 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 635.80 Td (fect on cash provided by operations. ) Tj ET Q
q 0 0 0 rg BT 220.35 635.80 Td (W) Tj ET Q
q 0 0 0 rg BT 229.85 635.80 Td (e did not make a pension contribution to our domestic plans in fiscal 2019 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (or 2018. During fiscal 2017, we made a $10.0 million contribution to the domestic defined benefit pension plans. ) 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 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 395.22 609.40 Td (fiscal 2020) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 443.79 609.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (In connection with the sale of ) Tj ET Q
q 0 0 0 rg BT 182.98 583.00 Td (TIUK in fiscal 2018, we contributed �60 million to the IPC Plan defined benefit ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (pension plan in the U.K. From February 2018 through June 2019, we made a required ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.64 569.80 Td (�0.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.42 569.80 Td ( per month ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (contribution to the IPC Plan. ) Tj ET Q
q 0 0 0 rg BT 178.74 556.60 Td (W) Tj ET Q
q 0 0 0 rg BT 188.24 556.60 Td (e expect to continue to make the required ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 372.72 556.60 Td (�0.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.50 556.60 Td ( per month contribution ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (through fiscal 2020. In the event that on November�25, 2021, the IPC Plan has a funding deficit valuing its ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (liabilities with a gilts plus 50 basis point \(bps\) discount rate, the Company) Tj ET Q
q 0 0 0 rg BT 375.89 530.20 Td (, as the sponsor of the IPC Plan, will ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (make a contribution equal to that funding deficit. In the event that on November�25, 2025, the IPC Plan has a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (funding deficit valuing its liabilities with a gilts flat discount rate, the Company will make a contribution equal to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (50 percent of that funding deficit. In the event that on November�25, 2026, the IPC Plan has a funding deficit ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (valuing its liabilities with a gilts flat discount rate, the Company will make a contribution equal to 50 percent of that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (funding deficit. In the event that on November�25, 2027, the IPC Plan has a funding deficit valuing its liabilities ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (with a gilts flat discount rate, the Company will make a contribution equal to that funding deficit. Contributions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (shall cease to be payable from the date that the IPC Plan 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 provided by investing activities was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 251.93 332.20 Td ($374.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.71 332.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.76 332.20 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.33 332.20 Td ( primarily due to proceeds from the sale ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (of ) Tj ET Q
q 0 0 0 rg BT 61.71 319.00 Td (TIME, Fortune, and our remaining interest in Charleston ) Tj ET Q
q 0 0 0 rg BT 313.85 319.00 Td (T) Tj ET Q
q 0 0 0 rg BT 319.80 319.00 Td (ennis LLC and proceeds received in advance of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (sale of Sports Illustrated. Net cash used in investing activities was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.27 305.80 Td ($2.6 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 394.00 305.80 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.05 305.80 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 456.62 305.80 Td ( primarily due to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (acquisition of ) Tj ET Q
q 0 0 0 rg BT 112.73 292.60 Td (T) Tj ET Q
q 0 0 0 rg BT 119.07 292.60 Td (ime partially of) Tj ET Q
q 0 0 0 rg BT 186.68 292.60 Td (fset by cash received from the sales of ) Tj ET Q
q 0 0 0 rg BT 357.52 292.60 Td (TIUK and MXM.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (Net cash used in investing activities increased to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.27 266.20 Td ($2.6 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.00 266.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.05 266.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.62 266.20 Td ( compared to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.80 266.20 Td ($1) Tj ET Q
q 0 0 0 rg BT 450.39 266.20 Td (17.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 504.17 266.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 518.23 266.20 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 253.00 Td ( primarily due to the increased cash outflows for acquisitions of businesses in fiscal 2018.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (Financing ) Tj ET Q
q 0 0 0 rg BT 99.21 226.60 Td (Activities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 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 50.00 187.00 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 50.00 173.80 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 50.00 160.60 Td (acquisition-related contingent consideration.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (Net cash used in financing activities was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.75 134.20 Td ($1.0 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.48 134.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 296.53 134.20 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.10 134.20 Td (, as compared with cash provided by financing ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (activities of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 104.37 121.00 Td ($2.9 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 155.10 121.00 Td ( in the prior year) Tj ET Q
q 0 0 0 rg BT 227.79 121.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 233.10 121.00 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 50.00 107.80 Td ($827.0 million of net debt repayments in fiscal 2019, compared to $2.5 billion of net debt issuances in fiscal 2018. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (In addition, $631.0 million of preferred equity was issued in the prior year) Tj ET Q
q 0 0 0 rg BT 376.26 94.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 381.56 94.60 Td (The debt and preferred equity issuances ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (were related to the acquisition of ) Tj ET Q
q 0 0 0 rg BT 197.02 81.40 Td (T) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (43) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (Net cash provided by financing activities totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.96 741.40 Td ($2.9 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.69 741.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.74 741.40 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.31 741.40 Td (, compared with net cash used by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (financing activities of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 148.66 728.20 Td ($103.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 213.44 728.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 227.50 728.20 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 276.07 728.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 281.37 728.20 Td (The change in cash flows from financing activities is primarily ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (due to $2.5 billion of net debt issuances in fiscal 2018 compared to net debt issuances of $5.6 million in fiscal 2017. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (In addition, $631.0 million of preferred equity was issued in fiscal 2018.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (Long-term Debt) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (At ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 63.75 649.00 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.16 649.00 Td (, total long-term debt outstanding was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 294.72 649.00 Td ($2.4 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.44 649.00 Td ( consisting of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 407.47 649.00 Td ($1.1 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.19 649.00 Td ( under a variable-rate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (term loan and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 113.23 635.80 Td ($1.3 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.95 635.80 Td ( in fixed-rate unsecured senior notes.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (The variable-rate credit facility includes the ) Tj ET Q
q 0 0 0 rg BT 245.26 609.40 Td (T) Tj ET Q
q 0 0 0 rg BT 251.21 609.40 Td (erm Loan B with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.81 609.40 Td ($1.1 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.53 609.40 Td ( of aggregate principal and a five-year ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (senior secured revolving credit facility of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 234.49 596.20 Td ($350.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 299.27 596.20 Td (, of which ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.31 596.20 Td ($175.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.09 596.20 Td ( is available for the issuance of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (letters of credit and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.96 583.00 Td ($35.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 197.24 583.00 Td ( of swingline loans. On June�30, 2019, there was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.85 583.00 Td ($35.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 473.13 583.00 Td ( of borrowings ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (outstanding under the revolving credit facility) 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 412.80 569.80 Td ( of standby letters of credit issued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (under the revolving credit facility resulting in availability of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.28 556.60 Td ($31) Tj ET Q
q 0 0 0 rg BT 333.37 556.60 Td (1.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.65 556.60 Td ( at June�30, 2019. ) Tj ET Q
q 0 0 0 rg BT 461.81 556.60 Td (The ) Tj ET Q
q 0 0 0 rg BT 481.46 556.60 Td (T) Tj ET Q
q 0 0 0 rg BT 487.41 556.60 Td (erm Loan B ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (matures in 2025 at which time the remaining principal and interest are due and payable. ) Tj ET Q
q 0 0 0 rg BT 438.34 543.40 Td (The interest rate under the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (T) Tj ET Q
q 0 0 0 rg BT 55.95 530.20 Td (erm Loan�B is based on LIBOR plus ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 219.71 530.20 Td (2.75 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 274.08 530.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 279.38 530.20 Td (The ) Tj ET Q
q 0 0 0 rg BT 299.03 530.20 Td (T) Tj ET Q
q 0 0 0 rg BT 304.98 530.20 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 467.16 530.20 Td (5.15 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.53 530.20 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 517.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 116.71 517.00 Td (The revolving credit facility bears interest at LIBOR plus a spread ranging from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.35 517.00 Td (2.5 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 520.22 517.00 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.27 517.00 Td (3.0 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.37 503.80 Td (, and has a commitment fee ranging from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.56 503.80 Td (0.375 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.42 503.80 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.48 503.80 Td (0.500 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 400.35 503.80 Td ( of the unused commitment. ) Tj ET Q
q 0 0 0 rg BT 525.60 503.80 Td (All ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (interest rates and commitment fees associated with this variable-rate revolving credit facility are derived from a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (leverage-based pricing grid. ) Tj ET Q
q 0 0 0 rg BT 175.64 477.40 Td (The 2026 Senior Notes have an aggregate principal amount of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 451.77 477.40 Td ($1.3 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.49 477.40 Td ( maturing in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (2026 with an interest rate of 6.875 percent per annum. ) Tj ET Q
q 0 0 0 rg BT 291.11 464.20 Td (T) Tj ET Q
q 0 0 0 rg BT 297.06 464.20 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 50.00 437.80 Td (Prior to the acquisition of ) Tj ET Q
q 0 0 0 rg BT 164.98 437.80 Td (T) Tj ET Q
q 0 0 0 rg BT 171.31 437.80 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 50.00 424.60 Td (with the proceeds from the new credit agreements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 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 50.00 385.00 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 50.00 371.80 Td (debt becoming payable on demand. ) Tj ET Q
q 0 0 0 rg BT 208.64 371.80 Td (The covenant did not apply at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 342.43 371.80 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 403.85 371.80 Td (, as we were below the specified ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (utilization level on the revolving credit line.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (Pr) Tj ET Q
q 0 0 0 rg BT 61.40 332.20 Td (eferr) Tj ET Q
q 0 0 0 rg BT 84.40 332.20 Td (ed Stock) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 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 362.17 305.80 Td ($650.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.95 305.80 Td (, Meredith issued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.77 305.80 Td (650,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 541.52 305.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (shares of perpetual convertible redeemable non-voting Series ) Tj ET Q
q 0 0 0 rg BT 321.54 292.60 Td (A) Tj ET Q
q 0 0 0 rg BT 328.88 292.60 Td ( preferred stock \(Series�) Tj ET Q
q 0 0 0 rg BT 433.33 292.60 Td (A) Tj ET Q
q 0 0 0 rg BT 440.67 292.60 Td ( preferred stock\) as well as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (detachable warrants to purchase up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 218.60 279.40 Td (1,625,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 262.60 279.40 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 50.00 266.20 Td (per share and options to purchase up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 224.73 266.20 Td (875,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 260.48 266.20 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 50.00 253.00 Td ($70.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 80.25 253.00 Td ( per share.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (The Series�) Tj ET Q
q 0 0 0 rg BT 98.88 226.60 Td (A) Tj ET Q
q 0 0 0 rg BT 106.21 226.60 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 549.30 226.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 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 455.96 213.40 Td (A) Tj ET Q
q 0 0 0 rg BT 463.30 213.40 Td ( preferred stock in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 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 50.00 187.00 Td (provided in the Statement of Designation of Series�) Tj ET Q
q 0 0 0 rg BT 274.84 187.00 Td (A) Tj ET Q
q 0 0 0 rg BT 282.18 187.00 Td ( preferred stock at an amount equal to 6 percent of the ) Tj ET Q
q 0 0 0 rg BT 522.25 187.00 Td (Accrued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (Stated ) Tj ET Q
q 0 0 0 rg BT 80.05 173.80 Td (V) Tj ET Q
q 0 0 0 rg BT 86.77 173.80 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 164.97 173.80 Td (A) Tj ET Q
q 0 0 0 rg BT 172.31 173.80 Td ( preferred stock as of the redemption date plus an amount, if any) Tj ET Q
q 0 0 0 rg BT 455.36 173.80 Td (, equal to dividends to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (the third year present valued at a discount rate based on U.S. ) Tj ET Q
q 0 0 0 rg BT 319.22 160.60 Td (T) Tj ET Q
q 0 0 0 rg BT 325.55 160.60 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 50.00 147.40 Td (is three years after the issuance date, plus 50 basis points. ) Tj ET Q
q 0 0 0 rg BT 305.48 147.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 324.73 147.40 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 394.78 147.40 Td (V) Tj ET Q
q 0 0 0 rg BT 401.50 147.40 Td (alue is an amount equal to: \(i\) the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (Stated ) Tj ET Q
q 0 0 0 rg BT 80.05 134.20 Td (V) Tj ET Q
q 0 0 0 rg BT 86.77 134.20 Td (alue \($1,000 multiplied by the number of shares of Series�) Tj ET Q
q 0 0 0 rg BT 341.85 134.20 Td (A) Tj ET Q
q 0 0 0 rg BT 349.19 134.20 Td ( preferred stock outstanding\); plus \(ii\) any ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 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 94.60 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 94.60 Td (A) Tj ET Q
q 0 0 0 rg BT 365.54 94.60 Td ( preferred stock, Meredith may redeem all ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (or a portion of the Series�) Tj ET Q
q 0 0 0 rg BT 161.20 81.40 Td (A) Tj ET Q
q 0 0 0 rg BT 168.53 81.40 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 68.20 Td (\(defined below\), plus \(ii\) the ) Tj ET Q
q 0 0 0 rg BT 178.30 68.20 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 248.35 68.20 Td (V) Tj ET Q
q 0 0 0 rg BT 255.07 68.20 Td (alue of the Series ) Tj ET Q
q 0 0 0 rg BT 333.27 68.20 Td (A) Tj ET Q
q 0 0 0 rg BT 340.61 68.20 Td ( preferred stock as of the redemption date.) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 259.06 741.40 Td (ference of \(a\) \(i\) the ) Tj ET Q
q 0 0 0 rg BT 349.76 741.40 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 419.81 741.40 Td (V) Tj ET Q
q 0 0 0 rg BT 426.53 741.40 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 504.73 741.40 Td (A) Tj ET Q
q 0 0 0 rg BT 512.06 741.40 Td ( preferred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 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 50.00 715.00 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 50.00 701.80 Td (such redemption occurs after the sixth year after issuance, 100 percent, minus \(b\) the ) Tj ET Q
q 0 0 0 rg BT 425.70 701.80 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 495.75 701.80 Td (V) Tj ET Q
q 0 0 0 rg BT 502.48 701.80 Td (alue as of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (redemption date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (In connection with any partial redemption by Meredith, Meredith may not redeem Series�) Tj ET Q
q 0 0 0 rg BT 442.83 662.20 Td (A) Tj ET Q
q 0 0 0 rg BT 450.17 662.20 Td ( preferred stock in an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (amount less than $50 million) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 177.71 649.00 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 180.46 649.00 Td (of the ) Tj ET Q
q 0 0 0 rg BT 207.96 649.00 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 278.01 649.00 Td (V) Tj ET Q
q 0 0 0 rg BT 284.73 649.00 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 362.93 649.00 Td (A) Tj ET Q
q 0 0 0 rg BT 370.27 649.00 Td ( preferred stock nor ef) Tj ET Q
q 0 0 0 rg BT 467.80 649.00 Td (fect any redemption ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (resulting in less than $100 million of the ) Tj ET Q
q 0 0 0 rg BT 230.26 635.80 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 300.31 635.80 Td (V) Tj ET Q
q 0 0 0 rg BT 307.04 635.80 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 385.24 635.80 Td (A) Tj ET Q
q 0 0 0 rg BT 392.57 635.80 Td ( preferred stock remaining ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (outstanding.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 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 425.10 596.20 Td (A) Tj ET Q
q 0 0 0 rg BT 432.44 596.20 Td ( preferred stock may elect to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (convert some or all of the Series�) Tj ET Q
q 0 0 0 rg BT 194.49 583.00 Td (A) Tj ET Q
q 0 0 0 rg BT 201.82 583.00 Td ( preferred stock into Meredith common stock at a ratio based on its ) Tj ET Q
q 0 0 0 rg BT 499.05 583.00 Td (Accrued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (Stated ) Tj ET Q
q 0 0 0 rg BT 80.05 569.80 Td (V) Tj ET Q
q 0 0 0 rg BT 86.77 569.80 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 50.00 556.60 Td (immediately preceding the written notice of conversion.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (Contractual Obligations) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 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 381.13 503.80 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 442.54 503.80 Td (:) Tj ET Q
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0.8 0.9333333333333333 1 rg
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402.50 400.30 48.00 -18.00 re f
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450.50 400.30 8.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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458.50 400.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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506.50 400.30 8.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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514.50 400.30 48.00 -18.00 re f
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1 1 1 rg
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50.50 382.30 240.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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290.50 364.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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346.50 364.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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402.50 364.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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450.50 364.30 8.00 -18.00 re f
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458.50 364.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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506.50 364.30 8.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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514.50 364.30 48.00 -18.00 re f
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50.50 329.30 240.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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290.50 329.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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338.50 329.30 8.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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394.50 329.30 8.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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402.50 329.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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450.50 329.30 8.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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458.50 329.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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506.50 329.30 8.00 -18.00 re f
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514.50 329.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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50.50 293.30 240.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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290.50 293.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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338.50 293.30 8.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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346.50 293.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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394.50 293.30 8.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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402.50 293.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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450.50 293.30 8.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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458.50 293.30 48.00 -18.00 re f
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0.8 0.9333333333333333 1 rg
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506.50 293.30 8.00 -18.00 re f
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1.00 w
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3 M
50.5 493.29999999999995 m
65.5 493.29999999999995 l
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0 0 0 RG
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1.00 w
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65.5 493.29999999999995 m
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290.5 493.29999999999995 m
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338.5 493.29999999999995 m
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346.5 493.29999999999995 m
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346.5 478.29999999999995 m
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394.5 493.29999999999995 m
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402.5 493.29999999999995 m
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402.5 478.29999999999995 m
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450.5 493.29999999999995 m
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458.5 493.29999999999995 m
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458.5 478.29999999999995 m
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506.5 493.29999999999995 m
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514.5 493.29999999999995 m
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514.5 478.29999999999995 m
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290.5 448.29999999999995 m
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338.5 448.29999999999995 m
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346.5 448.29999999999995 m
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394.5 478.29999999999995 m
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394.5 448.29999999999995 m
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402.5 448.29999999999995 m
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450.5 478.29999999999995 m
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450.5 448.29999999999995 m
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458.5 448.29999999999995 m
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506.5 478.29999999999995 m
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506.5 448.29999999999995 m
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514.5 448.29999999999995 m
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346.5 275.29999999999995 m
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402.5 275.29999999999995 m
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50.5 275.29999999999995 m
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65.5 275.29999999999995 m
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65.5 257.29999999999995 m
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290.5 275.29999999999995 m
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290.5 257.29999999999995 m
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338.5 275.29999999999995 m
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346.5 275.29999999999995 m
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394.5 275.29999999999995 m
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402.5 275.29999999999995 m
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450.5 275.29999999999995 m
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450.5 257.29999999999995 m
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458.5 275.29999999999995 m
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506.5 275.29999999999995 m
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q 0 0 0 rg BT 401.35 482.98 Td (Payments Due by Period) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 53.00 452.98 Td (Contractual obligations) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 313.10 452.98 Td (T) Tj ET Q
q 0 0 0 rg BT 318.85 452.98 Td (otal) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 350.15 464.98 Td (Less than) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 364.05 452.98 Td (1 ) Tj ET Q
q 0 0 0 rg BT 371.18 452.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 377.29 452.98 Td (ear) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 433.65 464.98 Td (1-3) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 423.10 452.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 429.21 452.98 Td (ears) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 489.65 464.98 Td (4-5) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 479.10 452.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 485.21 452.98 Td (ears) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 528.90 464.98 Td (After) Tj ET Q
q 0 0 0 rg BT 551.48 464.98 Td ( 5) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 535.10 452.98 Td (Y) Tj ET Q
q 0 0 0 rg BT 541.21 452.98 Td (ears) Tj ET Q
BT /F4 9.00 Tf ET
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 144.00 423.17 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.00 423.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 301.25 423.17 Td (2,370.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.00 423.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.30 423.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 405.00 423.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.00 423.17 Td (35.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.00 423.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.30 423.17 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 517.00 423.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.25 423.17 Td (2,335.4) Tj ET Q
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BT /F2 11.00 Tf ET
BT /F2 7.15 Tf ET
q 0 0 0 rg BT 109.51 410.21 Td ( ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.50 405.17 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.50 405.22 Td (918.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.50 405.22 Td (142.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.50 405.22 Td (284.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.50 405.22 Td (284.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 533.50 405.22 Td (207.0) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 82.03 387.22 Td (A) Tj ET Q
q 0 0 0 rg BT 89.36 387.22 Td ( preferred stock dividends) Tj ET Q
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BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 212.75 387.17 Td (...........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.50 387.22 Td (409.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.00 387.22 Td (56.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.50 387.22 Td (137.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.50 387.22 Td (166.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.00 387.22 Td (50.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.00 369.22 Td (Broadcast rights and network programming) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 245.75 369.17 Td (...............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.50 369.22 Td (407.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.50 369.22 Td (199.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.50 369.22 Td (196.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.00 369.22 Td (12.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 547.30 369.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.00 351.22 Td (Contingent consideration ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
q 0 0 0 rg BT 166.65 356.21 Td (3) Tj ET Q
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q 0 0 0 rg BT 171.50 351.17 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 320.50 351.22 Td (0.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.30 351.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.50 351.22 Td (0.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.30 351.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 547.30 351.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.00 334.22 Td (Operating leases) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 334.17 Td (..........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.50 334.22 Td (745.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.00 334.22 Td (69.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.50 334.22 Td (130.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.50 334.22 Td (123.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 533.50 334.22 Td (421.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.00 316.22 Td (Purchase obligations and other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 190.75 316.17 Td (...................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.00 316.22 Td (97.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.00 316.22 Td (52.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.00 316.22 Td (39.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.50 316.22 Td (5.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 544.50 316.22 Td (0.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.00 298.22 Td (Benefit plans) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 113.75 298.17 Td (...............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.50 298.22 Td (378.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 371.00 298.22 Td (59.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.00 298.22 Td (64.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.00 298.22 Td (65.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 533.50 298.22 Td (189.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.00 280.22 Td (Liability to ) Tj ET Q
q 0 0 0 rg BT 104.74 280.22 Td (T) Tj ET Q
q 0 0 0 rg BT 111.07 280.22 Td (ime ) Tj ET Q
q 0 0 0 rg BT 130.12 280.22 Td (W) Tj ET Q
q 0 0 0 rg BT 139.62 280.22 Td (arner ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
q 0 0 0 rg BT 164.96 285.21 Td (4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.75 280.17 Td (...........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.00 280.22 Td (27.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.30 280.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.00 280.22 Td (27.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.30 280.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 547.30 280.22 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.00 262.22 Td (T) Tj ET Q
q 0 0 0 rg BT 58.95 262.22 Td (otal contractual cash obligations) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.00 262.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 301.25 262.22 Td (5,356.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.00 262.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.50 262.22 Td (577.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 405.00 262.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.50 262.22 Td (916.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.00 262.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.50 262.22 Td (658.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 517.00 262.22 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.25 262.22 Td (3,204.1) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 53.00 242.55 Td (1) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 242.55 Td (Debt inter) Tj ET Q
q 0 0 0 rg BT 104.58 242.55 Td (est r) Tj ET Q
q 0 0 0 rg BT 119.99 242.55 Td (epr) Tj ET Q
q 0 0 0 rg BT 131.65 242.55 Td (esents semi-annual inter) Tj ET Q
q 0 0 0 rg BT 219.31 242.55 Td (est payments due on fixed-rate unsecur) Tj ET Q
q 0 0 0 rg BT 359.69 242.55 Td (ed senior notes and estimated inter) Tj ET Q
q 0 0 0 rg BT 485.59 242.55 Td (est payments on) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 233.55 Td (variable-rate term loan outstanding at June 30, 2019. Inter) Tj ET Q
q 0 0 0 rg BT 281.31 233.55 Td (est payments on variable-rate debt is estimated using the inter) Tj ET Q
q 0 0 0 rg BT 505.19 233.55 Td (est rate as of) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 224.55 Td (June 30, 2019.) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 53.00 210.55 Td (2) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 210.55 Td (Series�) Tj ET Q
q 0 0 0 rg BT 92.16 210.55 Td (A) Tj ET Q
q 0 0 0 rg BT 97.50 210.55 Td ( pr) Tj ET Q
q 0 0 0 rg BT 107.50 210.55 Td (eferr) Tj ET Q
q 0 0 0 rg BT 124.66 210.55 Td (ed stock dividends r) Tj ET Q
q 0 0 0 rg BT 196.06 210.55 Td (epr) Tj ET Q
q 0 0 0 rg BT 207.72 210.55 Td (esent quarterly payments based on a fixed inter) Tj ET Q
q 0 0 0 rg BT 378.10 210.55 Td (est rate in years one thr) Tj ET Q
q 0 0 0 rg BT 463.51 210.55 Td (ough thr) Tj ET Q
q 0 0 0 rg BT 493.93 210.55 Td (ee and on) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 201.55 Td (variable rates estimated using LIBOR as of June�30, 2019, in years four thr) Tj ET Q
q 0 0 0 rg BT 340.06 201.55 Td (ough six. While it is not certain when the Series�) Tj ET Q
q 0 0 0 rg BT 513.54 201.55 Td (A) Tj ET Q
q 0 0 0 rg BT 518.87 201.55 Td ( pr) Tj ET Q
q 0 0 0 rg BT 528.88 201.55 Td (eferr) Tj ET Q
q 0 0 0 rg BT 546.04 201.55 Td (ed) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 192.55 Td (stock will be settled, the table assumes a conversion at the beginning of year seven.) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 53.00 178.55 Td (3) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 178.55 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 /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 169.55 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 356.29 169.55 Td (esolved.) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 53.00 155.55 Td (4) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 155.55 Td (Repr) Tj ET Q
q 0 0 0 rg BT 85.16 155.55 Td (esents certain obligations T) Tj ET Q
q 0 0 0 rg BT 184.41 155.55 Td (ime had with T) Tj ET Q
q 0 0 0 rg BT 237.67 155.55 Td (ime W) Tj ET Q
q 0 0 0 rg BT 259.58 155.55 Td (arner at the time T) Tj ET Q
q 0 0 0 rg BT 326.58 155.55 Td (ime spun-off as a separate public company) Tj ET Q
q 0 0 0 rg BT 480.56 155.55 Td (. These liabilities) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 146.55 Td (primarily r) Tj ET Q
q 0 0 0 rg BT 107.42 146.55 Td (elate to a T) Tj ET Q
q 0 0 0 rg BT 147.34 146.55 Td (ax Matters ) Tj ET Q
q 0 0 0 rg BT 188.17 146.55 Td (Agr) Tj ET Q
q 0 0 0 rg BT 201.33 146.55 Td (eement in which the Company will be r) Tj ET Q
q 0 0 0 rg BT 341.73 146.55 Td (equir) Tj ET Q
q 0 0 0 rg BT 360.39 146.55 Td (ed to indemnify T) Tj ET Q
q 0 0 0 rg BT 422.63 146.55 Td (ime W) Tj ET Q
q 0 0 0 rg BT 444.55 146.55 Td (arner for open tax positions at) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 137.55 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 /F4 9.00 Tf ET
q 0 0 0 rg BT 68.00 128.55 Td (our best estimates of the amounts and dates when the indemnifications may be r) Tj ET Q
q 0 0 0 rg BT 355.38 128.55 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 97.40 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 84.20 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 84.20 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 71.00 Td (Therefore, $52.4 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 57.80 Td (above. See ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 100.40 57.80 Td (Note�8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 130.03 57.80 Td ( to the consolidated financial statements for further discussion of income taxes.) 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 (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 50.00 728.20 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 50.00 715.00 Td (legally binding, are not included in purchase obligations. ) Tj ET Q
q 0 0 0 rg BT 302.74 715.00 Td (W) Tj ET Q
q 0 0 0 rg BT 312.24 715.00 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 50.00 701.80 Td (operating activities, and cash available under current credit agreements will be suf) Tj ET Q
q 0 0 0 rg BT 411.43 701.80 Td (ficient to meet our contractual ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 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 50.00 675.40 Td (are, however) Tj ET Q
q 0 0 0 rg BT 106.36 675.40 Td (, subject to substantial uncertainty as discussed throughout MD&A) Tj ET Q
q 0 0 0 rg BT 400.57 675.40 Td ( and particularly in ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 486.71 675.40 Td (Item�1A-Risk ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (Factors ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 86.97 662.20 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 50.00 649.00 Td (to do so. ) Tj ET Q
q 0 0 0 rg BT 90.14 649.00 Td (W) Tj ET Q
q 0 0 0 rg BT 99.64 649.00 Td (e also have commitments in the form of standby letters of credit totaling $3.6 million that expire within ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (one year) Tj ET Q
q 0 0 0 rg BT 86.95 635.80 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (Shar) Tj ET Q
q 0 0 0 rg BT 72.42 609.40 Td (e Repur) Tj ET Q
q 0 0 0 rg BT 109.80 609.40 Td (chase Pr) Tj ET Q
q 0 0 0 rg BT 149.61 609.40 Td (ogram) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 583.00 Td (e have maintained a program of Company share repurchases for 31 years. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 397.93 583.00 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 446.50 583.00 Td (, we spent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 493.54 583.00 Td ($10.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 552.83 583.00 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (to repurchase an aggregate of 190,000 shares 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 50.00 556.60 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 556.60 Td (e spent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 93.10 556.60 Td ($31.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 152.38 556.60 Td ( to repurchase an aggregate of 520,000 shares in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.42 556.60 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.99 556.60 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.37 556.60 Td ($53.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.65 556.60 Td ( to repurchase ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (an aggregate of 941,000 shares in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 200.59 543.40 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.16 543.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 517.00 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 50.00 503.80 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 488.06 503.80 Td (s stock through ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (public and private transactions.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (As of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 76.89 464.20 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.30 464.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 143.80 464.20 Td ($50.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 203.08 464.20 Td ( remained available under the current authorization for future repurchases. See) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 548.51 464.20 Td ( ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (Item�5-Issuer Pur) Tj ET Q
q 0 0 0 rg BT 127.19 451.00 Td (chases of Equity Securities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 245.41 451.00 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 50.00 437.80 Td (the quarter ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 129.10 437.80 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 190.51 437.80 Td (. Pursuant to the terms of our new debt facilities and our Series�) Tj ET Q
q 0 0 0 rg BT 469.73 437.80 Td (A) Tj ET Q
q 0 0 0 rg BT 477.07 437.80 Td ( preferred stock, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 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 50.00 411.40 Td (discussed under Part�I, Item�1A, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 194.19 411.40 Td (Risk Factors) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.10 411.40 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (Dividends) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (Meredith has paid quarterly dividends continuously since 1947 and we have increased our dividend annually for 26 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (consecutive years. ) Tj ET Q
q 0 0 0 rg BT 133.18 345.40 Td (The last increase occurred in February 2019 when the Board of Directors approved the quarterly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (dividend of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 103.16 332.20 Td (57.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.91 332.20 Td ( cents per share ef) Tj ET Q
q 0 0 0 rg BT 207.11 332.20 Td (fective with the dividend payable in March 2019. Given the current number of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (shares outstanding, the increase will result in additional dividend payments of approximately $5.6 million annually) Tj ET Q
q 0 0 0 rg BT 555.18 319.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 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 305.09 292.60 Td ($106.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 369.88 292.60 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.29 292.60 Td ($2.240) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 417.54 292.60 Td ( per share, in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.10 292.60 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.67 292.60 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (compared with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 118.42 279.40 Td ($98.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 177.70 279.40 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 195.12 279.40 Td ($2.130) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 225.37 279.40 Td ( per share, in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.93 279.40 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 333.50 279.40 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 357.63 279.40 Td ($91.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.91 279.40 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.32 279.40 Td ($2.030) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.57 279.40 Td ( per share, in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.13 279.40 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 266.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (Our Series�) Tj ET Q
q 0 0 0 rg BT 98.88 239.80 Td (A) Tj ET Q
q 0 0 0 rg BT 106.22 239.80 Td ( preferred stock accrues an annual dividend at either \(a\) to the extent paid in cash, in an amount equal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (to the Cash Dividend ) Tj ET Q
q 0 0 0 rg BT 145.33 226.60 Td (Annual Rate \(as set forth in the table below\), multiplied by the Stated ) Tj ET Q
q 0 0 0 rg BT 453.66 226.60 Td (V) Tj ET Q
q 0 0 0 rg BT 460.39 226.60 Td (alue \(equal to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (number of shares of Series ) Tj ET Q
q 0 0 0 rg BT 169.44 213.40 Td (A) Tj ET Q
q 0 0 0 rg BT 176.78 213.40 Td (�preferred stock outstanding multiplied by $1,000\) or \(b\) if dividends are not declared ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (and paid in cash, we will deliver additional shares of Series�) Tj ET Q
q 0 0 0 rg BT 313.32 200.20 Td (A) Tj ET Q
q 0 0 0 rg BT 320.65 200.20 Td ( preferred stock, in kind, by issuing a number of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (shares equal to \(i\) the ) Tj ET Q
q 0 0 0 rg BT 146.83 187.00 Td (Accrued Dividend ) Tj ET Q
q 0 0 0 rg BT 229.92 187.00 Td (Annual Rate \(as set forth in the table below\), multiplied by the Stated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (V) Tj ET Q
q 0 0 0 rg BT 56.72 173.80 Td (alue for all outstanding shares of Series�) Tj ET Q
q 0 0 0 rg BT 232.38 173.80 Td (A) Tj ET Q
q 0 0 0 rg BT 239.71 173.80 Td ( preferred stock, divided by \(ii\) $1,000.) Tj ET Q
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q 0 0 0 rg BT 50.00 675.40 Td (impairment. ) Tj ET Q
q 0 0 0 rg BT 105.60 675.40 Td (A) Tj ET Q
q 0 0 0 rg BT 112.94 675.40 Td ( quantitative goodwill impairment test was performed for the national media reporting unit, which ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (involves comparing the fair value of the reporting unit to its carrying value. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (Meredith uses the discounted cash flow and guideline public company methods for determining fair value. ) Tj ET Q
q 0 0 0 rg BT 520.84 635.80 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (Company selected equal weighting of the discounted cash flow and guideline public company methods as the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (valuation approach to estimate fair value. ) Tj ET Q
q 0 0 0 rg BT 234.59 609.40 Td (The discounted cash flow model requires us to make significant estimates ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (and assumptions to estimate the future cash flows expected to be generated by the reporting unit or to result from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (the use of the assets. ) Tj ET Q
q 0 0 0 rg BT 142.67 583.00 Td (These estimates depend upon assumptions about future revenues \(including projections of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (overall market growth and our share of market\), estimated costs \(including our ability to achieve syner) Tj ET Q
q 0 0 0 rg BT 501.27 569.80 Td (gies as a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (result of the acquisition of ) Tj ET Q
q 0 0 0 rg BT 168.02 556.60 Td (T) Tj ET Q
q 0 0 0 rg BT 174.36 556.60 Td (ime\), and appropriate discount rates. Our assumptions are based on historical data, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 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
q 0 0 0 rg BT 50.00 530.20 Td (short-term financial forecasts and long-term strategic plans. 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 50.00 517.00 Td (outcomes depending on the assumptions and estimates used.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (The fair value of the national media reporting unit exceeded its net assets by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 388.44 490.60 Td (16 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.55 490.60 Td (. Holding all other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (assumptions constant, a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 156.93 477.40 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 173.43 477.40 Td (-basis point increase in the discount rate would result in an estimated fair value that ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (continues to exceed net assets by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 197.84 464.20 Td (1) Tj ET Q
q 0 0 0 rg BT 202.94 464.20 Td (1 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.55 464.20 Td (. Holding all other assumptions constant, a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.89 464.20 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.39 464.20 Td (-basis point decrease in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (the terminal growth rate would result in an estimated fair value that continues to exceed net assets by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.19 451.00 Td (1) Tj ET Q
q 0 0 0 rg BT 502.28 451.00 Td (1 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 542.90 451.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (Changes in key assumptions about the national media and local media businesses and their prospects or changes in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (market conditions could result in an impairment char) Tj ET Q
q 0 0 0 rg BT 282.87 411.40 Td (ge. See ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 317.39 411.40 Td (Item�1A.-Risk Factors) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.22 411.40 Td ( for other factors which could ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (af) Tj ET Q
q 0 0 0 rg BT 58.35 398.20 Td (fect our assumptions.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (At May�31, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 103.16 371.80 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.16 371.80 Td (, the Company also evaluated other indefinite-lived intangible assets for impairment using either ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (qualitative or quantitative impairment analyses. Fair values were calculated using the discounted cash flow model. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (As a result, the Company identified several impaired trademarks. ) Tj ET Q
q 0 0 0 rg BT 338.66 345.40 Td (Accordingly) Tj ET Q
q 0 0 0 rg BT 392.93 345.40 Td (, the national media segment recorded ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (a non-cash impairment char) Tj ET Q
q 0 0 0 rg BT 172.28 332.20 Td (ge of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 197.32 332.20 Td ($41.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.60 332.20 Td ( to fully impair the Money and Coastal Living brand trademarks and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (to partially impair the Shape and Family Circle brand trademarks. ) Tj ET Q
q 0 0 0 rg BT 342.13 319.00 Td (The Company�) Tj ET Q
q 0 0 0 rg BT 407.82 319.00 Td (s decision to discontinue the print ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (publication of ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 114.15 305.80 Td (Money ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 146.83 305.80 Td (and transition ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 209.76 305.80 Td (Coastal Living) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 274.86 305.80 Td ( from a subscription magazine to a newsstand only title resulted ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (in the impairment of these trademarks. ) Tj ET Q
q 0 0 0 rg BT 222.39 292.60 Td (The lack of sales growth resulted in the carrying value of the trademarks for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (the Shape and Family Circle brands to exceed their fair values. ) Tj ET Q
q 0 0 0 rg BT 328.99 279.40 Td (The fair values of the trademarks are determined ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (based on significant inputs not observable in the market. ) Tj ET Q
q 0 0 0 rg BT 300.91 266.20 Td (These char) Tj ET Q
q 0 0 0 rg BT 348.65 266.20 Td (ges were recorded in the impairment of long-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (lived assets line in the Consolidated Statements of Earnings. No other impairments of indefinite-lived intangible ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (assets were recorded as a result of the Company�) Tj ET Q
q 0 0 0 rg BT 264.42 239.80 Td (s fiscal 2019 annual impairment tests.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (During fiscal 2018, Meredith made the strategic decision to no longer publish ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 394.28 213.40 Td (Fit Pr) Tj ET Q
q 0 0 0 rg BT 420.46 213.40 Td (egnancy and Baby) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.70 213.40 Td ( magazine as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (a standalone title, rather to include it as a feature within ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 297.41 200.20 Td (Par) Tj ET Q
q 0 0 0 rg BT 313.50 200.20 Td (ents) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.22 200.20 Td ( magazine and to discontinue ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 462.26 200.20 Td (FamilyFun) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.14 200.20 Td ( as a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (subscription title and instead publish it only for sale on the newsstand. ) Tj ET Q
q 0 0 0 rg BT 361.73 187.00 Td (These decisions were determined to be ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (triggering events requiring Meredith to evaluate the trademarks within our Parents Network for impairment. ) Tj ET Q
q 0 0 0 rg BT 527.45 173.80 Td (As a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (result of those analyses, the Company recorded pre-tax non-cash impairment char) Tj ET Q
q 0 0 0 rg BT 409.32 160.60 Td (ges of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.64 160.60 Td ($22.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 497.92 160.60 Td ( related to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (those trademarks.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (See ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.63 121.00 Td (Note�5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.26 121.00 Td ( to the consolidated financial statements for additional information.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (INCOME ) Tj ET Q
q 0 0 0 rg BT 99.00 94.60 Td (T) Tj ET Q
q 0 0 0 rg BT 105.52 94.60 Td (AXES) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 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 55.00 Td (liabilities for the ef) Tj ET Q
q 0 0 0 rg BT 133.80 55.00 Td (fect of temporary dif) Tj ET Q
q 0 0 0 rg BT 224.92 55.00 Td (ferences between the financial and tax basis of recorded assets and liabilities ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (48) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 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 50.00 728.20 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 50.00 701.80 Td (As a result of the reduction in tax rates due to the ) Tj ET Q
q 0 0 0 rg BT 269.12 701.80 Td (T) Tj ET Q
q 0 0 0 rg BT 275.08 701.80 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 323.95 701.80 Td (Act signed into law during fiscal 2018 and a credit to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (income taxes of related to write-of) Tj ET Q
q 0 0 0 rg BT 201.60 688.60 Td (f of a bad debt, Meredith�) Tj ET Q
q 0 0 0 rg BT 314.01 688.60 Td (s tax rate for fiscal 2019 was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 443.21 688.60 Td (8.2 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.08 688.60 Td (. Net deferred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (tax liabilities totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.56 675.40 Td ($504.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 207.34 675.40 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 224.75 675.40 Td (1) Tj ET Q
q 0 0 0 rg BT 229.85 675.40 Td (1 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 270.46 675.40 Td ( of total liabilities, at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.55 675.40 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.97 675.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 649.00 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 50.00 635.80 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 50.00 622.60 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 50.00 609.40 Td (reserves for uncertain tax positions.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 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 529.43 583.00 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 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 50.00 556.60 Td (result in an increase or decrease to amounts previously paid to the taxing jurisdictions. ) Tj ET Q
q 0 0 0 rg BT 432.15 556.60 Td (Any such audits are not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (expected to have a material ef) Tj ET Q
q 0 0 0 rg BT 181.42 543.40 Td (fect on the Company�) Tj ET Q
q 0 0 0 rg BT 276.42 543.40 Td (s consolidated financial statements.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 172.80 503.80 Td (ACCOUNTING ) Tj ET Q
q 0 0 0 rg BT 251.34 503.80 Td (AND REPOR) Tj ET Q
q 0 0 0 rg BT 316.03 503.80 Td (TING DEVELOPMENTS) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (ADOPTED OR PENDING ) Tj ET Q
q 0 0 0 rg BT 178.65 477.40 Td (ACCOUNTING PRONOUNCEMENTS) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (There were no new accounting pronouncements issued or ef) Tj ET Q
q 0 0 0 rg BT 314.32 451.00 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 50.00 437.80 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 395.76 437.80 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 444.33 437.80 Td ( except for the adoption of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (the new revenue recognition standard which had a significant impact on consolidated financial statement ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (disclosures. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.30 411.40 Td (fiscal 2020) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 164.87 411.40 Td (, we expect that the adoption of the new lease standard will have a material impact on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (both the consolidated balance sheet as it recognizes right-of-use assets and related liabilities for operating leases and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (the consolidated financial statement disclosures due to significant new disclosures about leasing activities. See ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (Note�1 to the accompanying consolidated financial statements for information related to our adoption of new ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (accounting standards and for information on our anticipated adoption of recently issued accounting standards.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (ITEM�7A. QUANTIT) Tj ET Q
q 0 0 0 rg BT 157.06 305.80 Td (A) Tj ET Q
q 0 0 0 rg BT 164.18 305.80 Td (TIVE ) Tj ET Q
q 0 0 0 rg BT 193.23 305.80 Td (AND QUALIT) Tj ET Q
q 0 0 0 rg BT 262.39 305.80 Td (A) Tj ET Q
q 0 0 0 rg BT 269.52 305.80 Td (TIVE DISCLOSURES ) Tj ET Q
q 0 0 0 rg BT 378.95 305.80 Td (ABOUT) Tj ET Q
q 0 0 0 rg BT 417.87 305.80 Td ( MARKET) Tj ET Q
q 0 0 0 rg BT 469.92 305.80 Td ( RISK) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 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 50.00 253.00 Td (market value loss arising from adverse changes in interest rates. ) Tj ET Q
q 0 0 0 rg BT 333.57 253.00 Td (The Company does not utilize financial instruments ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 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 50.00 226.60 Td (significant market risk. ) Tj ET Q
q 0 0 0 rg BT 154.27 226.60 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 482.94 226.60 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 544.35 226.60 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (Inter) Tj ET Q
q 0 0 0 rg BT 73.63 200.20 Td (est Rates) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (W) Tj ET Q
q 0 0 0 rg BT 59.50 173.80 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 50.00 160.60 Td (and fixed-rate debt. ) Tj ET Q
q 0 0 0 rg BT 137.96 160.60 Td (At ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 151.71 160.60 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 213.13 160.60 Td (, Meredith had ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 280.33 160.60 Td ($1.3 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 331.05 160.60 Td ( in fixed-rate long-term debt outstanding. ) Tj ET Q
q 0 0 0 rg BT 515.06 160.60 Td (There ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (were no earnings or liquidity risks associated with the Company�) Tj ET Q
q 0 0 0 rg BT 335.64 147.40 Td (s fixed-rate debt. ) Tj ET Q
q 0 0 0 rg BT 412.41 147.40 Td (The fair value of the fixed-rate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (debt varies with fluctuations in interest rates. ) Tj ET Q
q 0 0 0 rg BT 249.78 134.20 Td (A) Tj ET Q
q 0 0 0 rg BT 257.12 134.20 Td ( 100-basis point change in interest rates would not materially change ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (the fair value of the fixed-rate debt of $1.4 billion at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.14 121.00 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.55 121.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (At ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 63.75 94.60 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.16 94.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 130.66 94.60 Td ($1.1 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 181.39 94.60 Td ( of our debt was variable-rate debt. ) Tj ET Q
q 0 0 0 rg BT 337.57 94.60 Td (The Company is subject to earnings and liquidity ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (risks for changes in the interest rate on this debt. ) Tj ET Q
q 0 0 0 rg BT 265.36 81.40 Td (A) Tj ET Q
q 0 0 0 rg BT 272.70 81.40 Td ( 100-basis point increase in LIBOR would increase annual ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (interest expense by $1) Tj ET Q
q 0 0 0 rg BT 147.65 68.20 Td (1.0 million.) Tj ET Q
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q 0 0 0 rg BT 301.00 31.60 Td (49) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (Because the United Kingdom Financial Conduct ) Tj ET Q
q 0 0 0 rg BT 265.68 741.40 Td (Authority) Tj ET Q
q 0 0 0 rg BT 307.74 741.40 Td (, which regulates LIBOR, announced the desire to phase ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (out the use of LIBOR by the end of 2021, future borrowings under our ) Tj ET Q
q 0 0 0 rg BT 362.94 728.20 Td (T) Tj ET Q
q 0 0 0 rg BT 368.89 728.20 Td (erm Loan�B and future dividend payments ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (on the Series�) Tj ET Q
q 0 0 0 rg BT 108.96 715.00 Td (A) Tj ET Q
q 0 0 0 rg BT 116.30 715.00 Td ( preferred stock could be subject to reference rates other than LIBOR.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (Br) Tj ET Q
q 0 0 0 rg BT 62.02 688.60 Td (oadcast Rights Payable) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (The Company enters into broadcast rights contracts for our television stations. ) Tj ET Q
q 0 0 0 rg BT 396.42 662.20 Td (As a rule, these contracts are on a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (market-by-market basis and subject to terms and conditions of the seller of the broadcast rights. ) Tj ET Q
q 0 0 0 rg BT 473.18 649.00 Td (These procured ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (rights generally are sold to the highest bidder in each market, and the process is very competitive. ) Tj ET Q
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BT /F1 10.00 Tf ET
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BT /F4 9.00 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 /F1 8.00 Tf ET
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q 0 0 0 rg BT 272.81 681.13 Td ( value) Tj ET Q
BT /F1 8.00 Tf ET
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q 0 0 0 rg BT 320.81 681.13 Td ( value) Tj ET Q
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q 0 0 0 rg BT 475.70 690.73 Td (ehensive) Tj ET Q
BT /F1 8.00 Tf ET
q 0 0 0 rg BT 452.85 681.13 Td (�Income \(Loss\)) Tj ET Q
BT /F2 8.00 Tf ET
q 0 0 0 rg BT 525.25 681.15 Td (�) Tj ET Q
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q 0 0 0 rg BT 527.25 681.15 Td (T) Tj ET Q
q 0 0 0 rg BT 531.85 681.15 Td (otal) Tj ET Q
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q 0 0 0 rg BT 289.00 653.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 653.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 653.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 421.75 653.36 Td (188.9) Tj ET Q
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q 0 0 0 rg BT 493.00 653.36 Td (�) Tj ET Q
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q 0 0 0 rg BT 337.00 639.36 Td (�) Tj ET Q
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q 0 0 0 rg BT 385.00 639.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 639.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 490.75 639.36 Td (9.5) Tj ET Q
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q 0 0 0 rg BT 337.00 616.36 Td (�) Tj ET Q
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q 0 0 0 rg BT 378.25 616.36 Td (37.1) Tj ET Q
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q 0 0 0 rg BT 433.00 616.36 Td (�) Tj ET Q
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q 0 0 0 rg BT 493.00 616.36 Td (�) Tj ET Q
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q 0 0 0 rg BT 283.75 602.36 Td (\(0.9) Tj ET Q
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q 0 0 0 rg BT 298.00 602.36 Td (\)) Tj ET Q
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q 0 0 0 rg BT 337.00 602.36 Td (�) Tj ET Q
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q 0 0 0 rg BT 375.25 602.36 Td (\(52.4) Tj ET Q
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q 0 0 0 rg BT 394.00 602.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 602.36 Td (�) Tj ET Q
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q 0 0 0 rg BT 493.00 602.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 537.25 602.36 Td (\(53.3) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 602.36 Td (\)) Tj ET Q
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q 0 0 0 rg BT 151.00 588.16 Td (............................................) Tj ET Q
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q 0 0 0 rg BT 289.00 588.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 588.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 378.25 588.36 Td (12.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 588.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 588.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 540.25 588.36 Td (12.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 574.36 Td (Conversion of class B to common stock) Tj ET Q
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q 0 0 0 rg BT 198.25 574.16 Td (.......................) Tj ET Q
BT /F2 9.00 Tf ET
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BT /F2 9.00 Tf ET
q 0 0 0 rg BT 331.75 574.36 Td (\(0.1) Tj ET Q
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q 0 0 0 rg BT 346.00 574.36 Td (\)) Tj ET Q
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q 0 0 0 rg BT 385.00 574.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 574.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 574.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 547.00 574.36 Td (�) Tj ET Q
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q 0 0 0 rg BT 289.00 546.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 546.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 546.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 423.25 546.36 Td (\(81.4) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 546.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 546.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 537.25 546.36 Td (\(81.4) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 546.36 Td (\)) Tj ET Q
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q 0 0 0 rg BT 180.25 532.16 Td (...............................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 532.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 532.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 532.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 423.25 532.36 Td (\(10.5) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 532.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 532.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 537.25 532.36 Td (\(10.5) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 532.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 518.36 Td (T) Tj ET Q
q 0 0 0 rg BT 58.18 518.36 Td (ax benefit from incentive plans) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 171.25 518.16 Td (...................................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 518.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 518.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 382.75 518.36 Td (3.0) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 518.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 518.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 544.75 518.36 Td (3.0) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 53.00 504.35 Td (Balance at June�30, 2017) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 148.75 504.16 Td (.............................................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 282.25 504.36 Td (39.4) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 334.75 504.36 Td (5.1) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 378.25 504.36 Td (54.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 421.75 504.36 Td (915.7) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 483.25 504.36 Td (\(19.0) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 502.00 504.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 535.75 504.36 Td (996.0) Tj ET Q
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q 0 0 0 rg BT 53.00 490.36 Td (Net earnings) Tj ET Q
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q 0 0 0 rg BT 99.25 490.16 Td (...................................................................) Tj ET Q
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q 0 0 0 rg BT 289.00 490.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 490.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 490.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 426.25 490.36 Td (99.4) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 490.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 540.25 490.36 Td (99.4) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 476.36 Td (Other comprehensive loss, net of tax) Tj ET Q
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q 0 0 0 rg BT 187.00 476.16 Td (............................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 476.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 476.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 476.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 476.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 483.25 476.36 Td (\(13.7) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 502.00 476.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 537.25 476.36 Td (\(13.7) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 476.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 462.36 Td (Shares issued under various incentive plans, net of) Tj ET Q
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q 0 0 0 rg BT 53.00 453.36 Td (forfeitures) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 92.50 453.16 Td (......................................................................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 286.75 453.36 Td (0.9) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 453.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 378.25 453.36 Td (18.4) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 453.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 453.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 540.25 453.36 Td (19.3) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 439.36 Td (Issuance of replacement ) Tj ET Q
q 0 0 0 rg BT 142.12 439.36 Td (T) Tj ET Q
q 0 0 0 rg BT 147.38 439.36 Td (ime share-based) Tj ET Q
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q 0 0 0 rg BT 130.75 430.16 Td (.....................................................) Tj ET Q
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q 0 0 0 rg BT 289.00 430.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 430.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 382.75 430.36 Td (9.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 430.36 Td (�) Tj ET Q
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q 0 0 0 rg BT 493.00 430.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 544.75 430.36 Td (9.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 416.36 Td (Purchases of Company stock) Tj ET Q
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q 0 0 0 rg BT 157.75 416.16 Td (.........................................) Tj ET Q
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q 0 0 0 rg BT 283.75 416.36 Td (\(0.5) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 298.00 416.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 416.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 375.25 416.36 Td (\(30.6) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 394.00 416.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 416.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 416.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 537.25 416.36 Td (\(31.1) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 416.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 402.36 Td (Share-based compensation) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 151.00 402.16 Td (............................................) Tj ET Q
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q 0 0 0 rg BT 289.00 402.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 402.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 378.25 402.36 Td (30.4) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 402.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 402.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 540.25 402.36 Td (30.4) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 388.36 Td (Issuance of warrants and options) Tj ET Q
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q 0 0 0 rg BT 171.25 388.16 Td (...................................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 388.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 388.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 373.75 388.36 Td (1) Tj ET Q
q 0 0 0 rg BT 378.25 388.36 Td (15.6) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 388.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 388.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 535.75 388.36 Td (1) Tj ET Q
q 0 0 0 rg BT 540.25 388.36 Td (15.6) Tj ET Q
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q 0 0 0 rg BT 53.00 374.36 Td (Dividends paid) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 65.00 360.36 Td (Common stock, $2.13 per share) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 180.25 360.16 Td (...............................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 360.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 360.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 360.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 423.25 360.36 Td (\(87.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 360.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 360.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 537.25 360.36 Td (\(87.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 360.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 65.00 346.36 Td (Class�B stock, $2.13 per share) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 175.75 346.16 Td (.................................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 346.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 346.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 346.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 423.25 346.36 Td (\(10.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 346.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 346.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 537.25 346.36 Td (\(10.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 346.36 Td (\)) Tj ET Q
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q 0 0 0 rg BT 65.00 332.36 Td (Series�) Tj ET Q
q 0 0 0 rg BT 89.00 332.36 Td (A) Tj ET Q
q 0 0 0 rg BT 95.00 332.36 Td ( preferred stock, $35.18 per share) Tj ET Q
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q 0 0 0 rg BT 216.25 332.16 Td (...............) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 332.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 332.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 332.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 423.25 332.36 Td (\(22.9) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 332.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 332.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 537.25 332.36 Td (\(22.9) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 332.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 318.36 Td (Accretion of Series�) Tj ET Q
q 0 0 0 rg BT 124.47 318.36 Td (A) Tj ET Q
q 0 0 0 rg BT 130.48 318.36 Td ( preferred stock) Tj ET Q
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q 0 0 0 rg BT 187.00 318.16 Td (............................) Tj ET Q
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q 0 0 0 rg BT 289.00 318.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 318.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 318.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 427.75 318.36 Td (\(7.2) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 318.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 318.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 541.75 318.36 Td (\(7.2) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 318.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 304.36 Td (Cumulative ef) Tj ET Q
q 0 0 0 rg BT 104.15 304.36 Td (fect adjustment for adoption of) Tj ET Q
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BT /F2 9.00 Tf ET
q 0 0 0 rg BT 193.75 295.16 Td (.........................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 295.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 295.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 382.75 295.36 Td (1.1) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 427.75 295.36 Td (\(0.6) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 295.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 295.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 544.75 295.36 Td (0.5) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 281.36 Td (Reclassification adjustment for adoption of) Tj ET Q
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q 0 0 0 rg BT 53.00 272.36 Td (Accounting Standards Update 2018-02) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 193.75 272.16 Td (.........................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 272.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 272.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 272.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 430.75 272.36 Td (4.0) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 487.75 272.36 Td (\(4.0) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 502.00 272.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 547.00 272.36 Td (�) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 53.00 258.35 Td (Balance at June�30, 2018) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 148.75 258.16 Td (.............................................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 282.25 258.36 Td (39.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 334.75 258.36 Td (5.1) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 373.75 258.36 Td (199.5) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 421.75 258.36 Td (889.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 483.25 258.36 Td (\(36.7) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 502.00 258.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 529.00 258.36 Td (1,097.5) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 244.36 Td (Net earnings) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 99.25 244.16 Td (...................................................................) Tj ET Q
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q 0 0 0 rg BT 289.00 244.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 244.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 244.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 426.25 244.36 Td (46.3) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 244.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 540.25 244.36 Td (46.3) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 230.36 Td (Other comprehensive loss, net of tax) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 187.00 230.16 Td (............................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 230.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 230.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 230.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 230.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 487.75 230.36 Td (\(9.6) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 502.00 230.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 541.75 230.36 Td (\(9.6) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 230.36 Td (\)) Tj ET Q
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q 0 0 0 rg BT 53.00 216.36 Td (Shares issued under various incentive plans, net of) Tj ET Q
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q 0 0 0 rg BT 53.00 207.36 Td (forfeitures) Tj ET Q
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q 0 0 0 rg BT 92.50 207.16 Td (......................................................................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 286.75 207.36 Td (0.5) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 207.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 382.75 207.36 Td (4.1) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 207.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 207.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 544.75 207.36 Td (4.6) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 193.36 Td (Purchases of Company stock) Tj ET Q
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q 0 0 0 rg BT 157.75 193.16 Td (.........................................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 283.75 193.36 Td (\(0.2) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 298.00 193.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 193.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 379.75 193.36 Td (\(9.8) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 394.00 193.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 193.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 193.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 537.25 193.36 Td (\(10.0) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 193.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 179.36 Td (Share-based compensation) Tj ET Q
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q 0 0 0 rg BT 151.00 179.16 Td (............................................) Tj ET Q
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q 0 0 0 rg BT 289.00 179.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 179.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 378.25 179.36 Td (22.9) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 433.00 179.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 179.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 540.25 179.36 Td (22.9) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 53.00 165.36 Td (Dividends paid) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 65.00 151.36 Td (Common stock, $2.24 per share) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 180.25 151.16 Td (...............................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 151.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 337.00 151.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 385.00 151.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 423.25 151.36 Td (\(94.6) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 442.00 151.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 493.00 151.36 Td (�) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 537.25 151.36 Td (\(94.6) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 556.00 151.36 Td (\)) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 65.00 137.36 Td (Class�B stock, $2.24 per share) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 175.75 137.16 Td (.................................) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 289.00 137.36 Td (�) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 520.32 Td (Fair value adjustment to contingent consideration) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 269.50 520.32 Td (.............................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 419.80 520.32 Td (\(5.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 520.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 481.80 520.32 Td (\(4.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 520.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 537.80 520.32 Td (\(19.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 520.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 508.32 Td (Excess tax benefits from share-based payments) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 262.00 508.32 Td (................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 425.65 508.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 487.65 508.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 542.80 508.32 Td (\(6.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 508.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 496.32 Td (Other operating activities, net) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 192.00 496.32 Td (............................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 414.80 496.32 Td (\(10.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 496.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.15 496.32 Td (13.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 548.65 496.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 484.32 Td (Changes in assets and liabilities, net of acquisitions/dispositions) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 89.00 472.32 Td (Accounts receivable) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 172.00 472.32 Td (....................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 414.80 472.32 Td (\(69.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 472.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 485.15 472.32 Td (9.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 537.80 472.32 Td (\(15.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 472.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 89.00 460.32 Td (Inventories) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 134.50 460.32 Td (...................................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 414.80 460.32 Td (\(18.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 460.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 481.80 460.32 Td (\(0.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 460.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 542.80 460.32 Td (\(1.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 460.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 89.00 448.32 Td (Other current assets) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 169.50 448.32 Td (.....................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 418.15 448.32 Td (57.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 481.80 448.32 Td (\(4.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 448.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 546.15 448.32 Td (4.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 89.00 436.32 Td (Subscription acquisition costs) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 209.50 436.32 Td (.....................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 409.80 436.32 Td (\(312.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 436.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.15 436.32 Td (13.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 546.15 436.32 Td (4.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 89.00 424.32 Td (Other assets) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 139.50 424.32 Td (.................................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 414.80 424.32 Td (\(21.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 424.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 471.80 424.32 Td (\(101.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 424.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 542.80 424.32 Td (\(2.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 424.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 89.00 412.32 Td (Assets and liabilities held-for) Tj ET Q
q 0 0 0 rg BT 206.38 412.32 Td (-sale) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 227.00 412.32 Td (..............................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 414.80 412.32 Td (\(18.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 412.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.15 412.32 Td (22.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 548.65 412.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 89.00 400.32 Td (Accounts payable) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 162.00 400.32 Td (........................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 418.15 400.32 Td (36.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 476.80 400.32 Td (\(12.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 400.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 537.80 400.32 Td (\(15.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 400.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 89.00 388.32 Td (Accrued expenses and other liabilities) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 242.00 388.32 Td (........................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 414.80 388.32 Td (\(99.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 388.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.15 388.32 Td (73.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 546.15 388.32 Td (7.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 89.00 376.32 Td (Unearned subscription revenues) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 219.50 376.32 Td (.................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 413.15 376.32 Td (251.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 476.80 376.32 Td (\(27.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 376.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 537.80 376.32 Td (\(16.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 376.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 89.00 364.32 Td (Other noncurrent liabilities) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 199.50 364.32 Td (.........................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 419.80 364.32 Td (\(4.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 364.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 485.15 364.32 Td (0.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 537.80 364.32 Td (\(29.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 364.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 352.32 Td (Net cash provided by operating activities) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 219.50 352.32 Td (.................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 413.15 352.32 Td (245.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 475.15 352.32 Td (149.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 536.15 352.32 Td (218.6) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 53.00 340.43 Td (Cash flows fr) Tj ET Q
q 0 0 0 rg BT 109.57 340.43 Td (om investing activities) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 328.32 Td (Acquisitions of and investments in businesses, net of cash acquired) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 342.00 328.32 Td (................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 414.80 328.32 Td (\(18.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 328.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 464.30 328.32 Td (\(2,786.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 328.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 537.80 328.32 Td (\(84.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 328.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 316.32 Td (Proceeds from disposition of assets, net of cash sold) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 282.00 316.32 Td (........................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 413.15 316.32 Td (349.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 475.15 316.32 Td (219.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 546.15 316.32 Td (1.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 304.32 Td (Proceeds received in advance of sale of business) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 267.00 304.32 Td (..............................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 418.15 304.32 Td (90.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 487.65 304.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 548.65 304.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 292.32 Td (Additions to property) Tj ET Q
q 0 0 0 rg BT 156.78 292.32 Td (, plant, and equipment) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 247.00 292.32 Td (......................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 414.80 292.32 Td (\(46.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 292.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 476.80 292.32 Td (\(53.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 292.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 537.80 292.32 Td (\(34.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 292.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 280.32 Td (Other) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 94.50 280.32 Td (...................................................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 425.65 280.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 485.15 280.32 Td (3.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 548.65 280.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 268.32 Td (Net cash provided by \(used in\) investing activities) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 254.50 268.32 Td (...................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 413.15 268.32 Td (374.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 464.30 268.32 Td (\(2,616.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 268.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 532.80 268.32 Td (\(1) Tj ET Q
q 0 0 0 rg BT 541.13 268.32 Td (17.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 268.32 Td (\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 53.00 256.43 Td (Cash flows fr) Tj ET Q
q 0 0 0 rg BT 109.57 256.43 Td (om financing activities) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 244.32 Td (Proceeds from issuance of long-term debt) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 239.50 244.32 Td (.........................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 413.15 244.32 Td (210.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 467.65 244.32 Td (3,260.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 536.15 244.32 Td (380.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 232.32 Td (Repayments of long-term debt) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 194.50 232.32 Td (...........................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 402.30 232.32 Td (\(1,037.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 232.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 471.80 232.32 Td (\(765.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 232.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 532.80 232.32 Td (\(374.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 232.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 220.27 Td (Issued preferred stock, warrants, and options proceeds, net of issuance costs) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 377.00 220.27 Td (..) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 425.65 220.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 475.15 220.27 Td (631.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 548.65 220.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 206.32 Td (Dividends paid) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 132.00 206.32 Td (....................................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 409.80 206.32 Td (\(161.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 206.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 471.80 206.32 Td (\(121.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 206.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 537.80 206.32 Td (\(91.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 206.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 194.32 Td (Purchases of Company stock) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 187.00 194.32 Td (..............................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 414.80 194.32 Td (\(10.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 194.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 476.80 194.32 Td (\(31.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 194.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 537.80 194.32 Td (\(53.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 194.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 182.32 Td (Proceeds from common stock issued) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 219.50 182.32 Td (.................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 423.15 182.32 Td (4.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 480.15 182.32 Td (19.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 541.15 182.32 Td (38.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 170.32 Td (Excess tax benefits from share-based payments) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 262.00 170.32 Td (................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 425.65 170.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 487.65 170.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 546.15 170.32 Td (6.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 158.32 Td (Payment of acquisition related contingent consideration) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 294.50 158.32 Td (...................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 414.80 158.32 Td (\(19.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 158.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 481.80 158.32 Td (\(4.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 158.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 542.80 158.32 Td (\(7.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 158.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 71.00 146.32 Td (Debt acquisition costs) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 159.50 146.32 Td (.........................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 425.65 146.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 476.80 146.32 Td (\(70.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 146.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 542.80 146.32 Td (\(1.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 146.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 134.32 Td (Net cash provided by \(used in\) financing activities) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 257.00 134.32 Td (..................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 402.30 134.32 Td (\(1,013.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 134.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 467.65 134.32 Td (2,917.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 532.80 134.32 Td (\(103.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 558.65 134.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 122.32 Td (Ef) Tj ET Q
q 0 0 0 rg BT 62.35 122.32 Td (fect of exchange rate changes on cash and cash equivalents) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 299.50 122.32 Td (.................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 419.80 122.32 Td (\(1.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 435.65 122.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 481.80 122.32 Td (\(4.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 122.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 548.65 122.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 53.00 110.32 Td (Change in cash held-for) Tj ET Q
q 0 0 0 rg BT 148.70 110.32 Td (-sale) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 169.50 110.32 Td (.....................................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 423.15 110.32 Td (2.8) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 476.80 110.32 Td (\(31.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 497.65 110.32 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 548.65 110.32 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
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q 0 0 0 rg BT 383.88 688.60 Td ($10.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 443.16 688.60 Td ( were held internationally) Tj ET Q
q 0 0 0 rg BT 555.16 688.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (primarily in Europe. Cash equivalents at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 230.54 675.40 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 291.95 675.40 Td (, were $) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 327.07 675.40 Td (9.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 375.35 675.40 Td (, which approximates fair value due to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (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 397.60 662.20 Td (Note�10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.73 662.20 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 ($8.2 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, 2019) 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 ($7.6 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, 2018) 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, 2019) 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 ($92.5 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 2019) 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 ($54.2 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 2018) 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 ($34.7 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 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.57 94.60 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (Br) Tj ET Q
q 0 0 0 rg BT 62.02 68.20 Td (oadcast Rights) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 130.78 68.20 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 55.00 Td (feature films. ) Tj ET Q
q 0 0 0 rg BT 111.19 55.00 Td (The total cost of these rights is recorded as an asset and as a liability when programs become ) 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 (67) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (available for broadcast. ) Tj ET Q
q 0 0 0 rg BT 155.47 741.40 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 50.00 728.20 Td (are expected to be amortized in the succeeding year) Tj ET Q
q 0 0 0 rg BT 276.61 728.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 281.91 728.20 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 50.00 715.00 Td (estimated net realizable value, and are generally char) Tj ET Q
q 0 0 0 rg BT 283.12 715.00 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 50.00 701.80 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 50.00 688.60 Td (editorial expenses in the Consolidated Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 327.49 688.60 Td (There were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.01 688.60 Td (no) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.01 688.60 Td ( material impairments of unamortized ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (costs in fiscal years ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.59 675.40 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.59 675.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 166.09 675.40 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.09 675.40 Td (, or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 205.50 675.40 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 227.50 675.40 Td (. Future write-of) Tj ET Q
q 0 0 0 rg BT 299.70 675.40 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 50.00 662.20 Td (and the availability and costs of other programming.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (Intangible ) Tj ET Q
q 0 0 0 rg BT 100.43 635.80 Td (Assets and Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 195.79 635.80 Td (�Amortizable intangible assets consist primarily of advertiser relationships, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (publisher relationships, network af) Tj ET Q
q 0 0 0 rg BT 202.54 622.60 Td (filiation agreements, partner relationships, customer relationships, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (retransmission agreements. Intangible assets with finite lives are amortized over their estimated useful lives. ) Tj ET Q
q 0 0 0 rg BT 528.77 609.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 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 50.00 583.00 Td (future cash flows. Network af) Tj ET Q
q 0 0 0 rg BT 180.84 583.00 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 50.00 569.80 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 50.00 556.60 Td (\(generally ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 97.34 556.60 Td (25) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 108.34 556.60 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.39 556.60 Td (40 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.35 556.60 Td ( from the original acquisition date\). Other intangible assets are amortized over their ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (estimated useful lives, ranging from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 211.29 543.40 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.79 543.40 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 230.85 543.40 Td (10 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 267.81 543.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 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 50.00 503.80 Td (broadcast licenses. ) Tj ET Q
q 0 0 0 rg BT 135.02 503.80 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 336.60 503.80 Td (eight years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.55 503.80 Td ( but are renewable if the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 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 50.00 477.40 Td (policies and the Communications ) Tj ET Q
q 0 0 0 rg BT 199.09 477.40 Td (Act of 1934. ) Tj ET Q
q 0 0 0 rg BT 256.94 477.40 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 50.00 464.20 Td (renewal requests and has incurred only minimal costs in the process. ) Tj ET Q
q 0 0 0 rg BT 354.05 464.20 Td (The Company expects the television ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 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 50.00 437.80 Td (expected to continue indefinitely) Tj ET Q
q 0 0 0 rg BT 193.76 437.80 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (The Company has acquired trademark brands that have been determined to have indefinite lives. ) Tj ET Q
q 0 0 0 rg BT 477.12 411.40 Td (Those assets are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (evaluated annually for impairment. ) Tj ET Q
q 0 0 0 rg BT 207.10 398.20 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 50.00 385.00 Td (life is appropriate, including the competitive environment, market share, brand history) Tj ET Q
q 0 0 0 rg BT 428.98 385.00 Td (, and operating plans. In ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (addition, when certain events or changes in operating conditions occur) Tj ET Q
q 0 0 0 rg BT 359.91 371.80 Td (, an additional impairment assessment is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 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 50.00 332.20 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 50.00 319.00 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 50.00 305.80 Td (impairment testing is performed at the reporting unit level. ) Tj ET Q
q 0 0 0 rg BT 310.68 305.80 Td (The Company has ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 393.47 305.80 Td (two) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.97 305.80 Td ( reporting units � national media, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (and local media. ) Tj ET Q
q 0 0 0 rg BT 124.94 292.60 Td (The Company also assesses, at least annually) Tj ET Q
q 0 0 0 rg BT 323.09 292.60 Td (, whether assets classified as indefinite-lived ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (intangible assets continue to have indefinite lives.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (The Company performs its goodwill impairment analysis annually as of May�31. ) Tj ET Q
q 0 0 0 rg BT 407.75 253.00 Td (At May�31, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 460.91 253.00 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.91 253.00 Td (, the date the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 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 50.00 226.60 Td (qualitative impairment tests for the local media reporting unit and a quantitative goodwill impairment test for the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (national media reporting unit. ) Tj ET Q
q 0 0 0 rg BT 182.89 213.40 Td (A) Tj ET Q
q 0 0 0 rg BT 190.22 213.40 Td ( quantitative impairment test, performed for a goodwill reporting unit or indefinite-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (lived intangible assets, involves determining the fair value of the reporting unit or asset which is then compared to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (its carrying value.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 165.80 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 50.00 152.60 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 50.00 139.40 Td (result from the use of the asset. ) Tj ET Q
q 0 0 0 rg BT 189.71 139.40 Td (These estimates include assumptions about future revenues \(including projections of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 126.20 Td (overall market growth and share of market\), estimated costs, and appropriate discount rates where applicable. ) Tj ET Q
q 0 0 0 rg BT 534.23 126.20 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 113.00 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 99.80 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 86.60 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 73.40 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 60.20 Td (impairment char) Tj ET Q
q 0 0 0 rg BT 122.19 60.20 Td (ge.) 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 /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (Additional information regarding intangible assets and goodwill including a discussion of impairment char) Tj ET Q
q 0 0 0 rg BT 519.65 741.40 Td (ges taken ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 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 335.96 728.20 Td (Note�5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.59 728.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (Impairment of Long-lived ) Tj ET Q
q 0 0 0 rg BT 174.36 701.80 Td (Assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 203.69 701.80 Td (�Long-lived assets \(primarily property) Tj ET Q
q 0 0 0 rg BT 378.63 701.80 Td (, plant, and equipment and amortizable ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (intangible assets\) 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 50.00 675.40 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 50.00 662.20 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 396.81 662.20 Td (T) Tj ET Q
q 0 0 0 rg BT 402.76 662.20 Td (ests for impairment or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (recoverability require significant management judgment, and future events af) Tj ET Q
q 0 0 0 rg BT 389.75 649.00 Td (fecting cash flows and market ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (conditions could result in impairment losses.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (Derivative Financial Instruments) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 205.82 609.40 Td (�Meredith does not engage in derivative or hedging activities, except at times ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (to hedge interest rate risk on debt. Prior to the ) Tj ET Q
q 0 0 0 rg BT 253.76 596.20 Td (Acquisition, Meredith held interest rate swaps designated and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (accounted for as cash flow hedges in accordance with ) Tj ET Q
q 0 0 0 rg BT 288.54 583.00 Td (Accounting Standards Codification \(ASC\)�815, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 499.96 583.00 Td (Derivatives ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (and Hedging.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.88 569.80 Td ( In connection with the repayment of the variable-rate private placement senior notes and bank term ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (loans on January�31, 2018, as further described in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.47 556.60 Td (Note�7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 301.10 556.60 Td (, the Company terminated these swaps. Refer to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.33 556.60 Td (Note�7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.96 556.60 Td ( for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (further discussion on the gain recognized on this termination.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (Prior to their termination, the ef) Tj ET Q
q 0 0 0 rg BT 189.71 517.00 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 50.00 503.80 Td (other comprehensive income \(loss\). ) Tj ET Q
q 0 0 0 rg BT 209.56 503.80 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 50.00 490.60 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 50.00 477.40 Td (hedged item in the same period that the hedge transaction af) Tj ET Q
q 0 0 0 rg BT 314.32 477.40 Td (fected net earnings. ) Tj ET Q
q 0 0 0 rg BT 402.69 477.40 Td (There were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.21 477.40 Td (no) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.21 477.40 Td ( material gains or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (losses recognized in earnings for hedge inef) Tj ET Q
q 0 0 0 rg BT 242.84 464.20 Td (fectiveness in fiscal 2018 or 2017.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (Revenue Recognition) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 149.30 437.80 Td (�The Company�) Tj ET Q
q 0 0 0 rg BT 225.98 437.80 Td (s primary source of revenue is advertising related. Other sources include ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (consumer related and other revenues.) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (Advertising r) Tj ET Q
q 0 0 0 rg BT 107.34 398.20 Td (elated r) Tj ET Q
q 0 0 0 rg BT 140.84 398.20 Td (evenues�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 185.43 398.20 Td (Advertising related revenues are recognized when advertisements are published ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (\(defined as an issue�) Tj ET Q
q 0 0 0 rg BT 139.50 385.00 Td (s on-sale date\) or aired by the broadcasting station, net of provisions for estimated rebates, rate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (adjustments, and discounts. Barter revenues are included in advertising revenue and are also recognized when the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (advertisements are published or the commercials are broadcast. Barter advertising revenues and the of) Tj ET Q
q 0 0 0 rg BT 498.79 358.60 Td (fsetting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (expense are recognized at the fair value of the advertising surrendered, as determined by similar cash transactions. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (Barter advertising revenues were not material in any period. Digital advertising revenues are recognized ratably ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (over the contract period or as services are delivered. ) Tj ET Q
q 0 0 0 rg BT 281.91 319.00 Td (Third party advertising revenues are recognized when the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (advertisement is run by the third parties, or a print product is placed on-sale.) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (Consumer r) Tj ET Q
q 0 0 0 rg BT 101.85 279.40 Td (elated r) Tj ET Q
q 0 0 0 rg BT 135.35 279.40 Td (evenues�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 179.94 279.40 Td (Circulation revenues include magazine single copy and subscription revenue. Single ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (copy revenue is recognized on the publication�) Tj ET Q
q 0 0 0 rg BT 255.26 266.20 Td (s on-sale date, net of provisions for estimated returns. ) Tj ET Q
q 0 0 0 rg BT 493.64 266.20 Td (The Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (bases its estimates for returns on historical experience and current marketplace conditions. Revenues from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (magazine subscriptions are deferred and recognized proportionately as products are distributed to subscribers. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (Brand licensing-based revenues are accrued generally monthly or quarterly based on the specific mechanisms of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (each contract. Payments are generally made by the Company�) Tj ET Q
q 0 0 0 rg BT 321.54 213.40 Td (s partners on a quarterly basis. Generally) Tj ET Q
q 0 0 0 rg BT 500.73 213.40 Td (, revenues are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (accrued based on estimated sales and adjusted as actual sales are reported by partners. ) Tj ET Q
q 0 0 0 rg BT 430.67 200.20 Td (These adjustments are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (typically recorded within ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.32 187.00 Td (three months) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.45 187.00 Td ( of the initial estimates and have not been material. ) Tj ET Q
q 0 0 0 rg BT 446.79 187.00 Td (Any minimum guarantees ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (are typically earned evenly over the fiscal year) Tj ET Q
q 0 0 0 rg BT 254.92 173.80 Td (. Retransmission consent revenues are recognized over the contract ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 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 50.00 147.40 Td (with subscribers on behalf of third-party publishers is recognized once the subscriber) Tj ET Q
q 0 0 0 rg BT 424.61 147.40 Td (�) Tj ET Q
q 0 0 0 rg BT 427.66 147.40 Td (s name is transferred to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (publisher) Tj ET Q
q 0 0 0 rg BT 90.50 134.20 Td (, on a net basis, with a reserve for estimated cancellations.) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (Other r) Tj ET Q
q 0 0 0 rg BT 82.29 107.80 Td (evenues�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 126.88 107.80 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 94.60 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 81.40 Td (deliverables. ) Tj ET Q
q 0 0 0 rg BT 108.44 81.40 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 68.20 Td (consideration be allocated to each deliverable \(unit of accounting\) in the revenue arrangement based on the relative ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (69) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 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 50.00 728.20 Td (The related revenue is recognized when each specific deliverable of the arrangement is delivered.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (In certain instances, revenues are recorded gross in accordance with U.S. GAAP) Tj ET Q
q 0 0 0 rg BT 403.29 701.80 Td ( although the Company receives ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (cash for a lesser amount due to the netting of certain expenses. ) Tj ET Q
q 0 0 0 rg BT 327.66 688.60 Td (Amounts received from customers in advance of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 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 50.00 649.00 Td (Contingent Consideration) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 171.93 649.00 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 50.00 635.80 Td (contingent consideration as part of purchase price consideration for acquisitions. ) Tj ET Q
q 0 0 0 rg BT 406.47 635.80 Td (Additionally) Tj ET Q
q 0 0 0 rg BT 461.37 635.80 Td (, each reporting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 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 50.00 609.40 Td (recognized in the Consolidated Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 296.22 609.40 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 50.00 596.20 Td (a char) Tj ET Q
q 0 0 0 rg BT 76.36 596.20 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 50.00 583.00 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 50.00 569.80 Td (fair value of contingent consideration decreases. ) Tj ET Q
q 0 0 0 rg BT 265.13 569.80 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 50.00 556.60 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 50.00 543.40 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 50.00 530.20 Td (estimate of the fair value of contingent consideration and, therefore, materially af) Tj ET Q
q 0 0 0 rg BT 407.46 530.20 Td (fect the Company�) Tj ET Q
q 0 0 0 rg BT 488.71 530.20 Td (s future ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (financial results. ) Tj ET Q
q 0 0 0 rg BT 124.84 517.00 Td (Additional information regarding contingent consideration is provided in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.66 517.00 Td (Note�2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.29 517.00 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (Advertising Expenses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 151.15 490.60 Td (�The majority of the Company�) Tj ET Q
q 0 0 0 rg BT 295.95 490.60 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 50.00 477.40 Td (magazine subscription acquisition ef) Tj ET Q
q 0 0 0 rg BT 210.78 477.40 Td (forts. ) Tj ET Q
q 0 0 0 rg BT 235.84 477.40 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 50.00 464.20 Td (advertising takes place. ) Tj ET Q
q 0 0 0 rg BT 155.48 464.20 Td (T) Tj ET Q
q 0 0 0 rg BT 161.43 464.20 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 50.00 451.00 Td ($193.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 114.78 451.00 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.84 451.00 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 177.41 451.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 182.91 451.00 Td ($86.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 242.19 451.00 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.24 451.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 304.82 451.00 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.95 451.00 Td ($63.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 388.23 451.00 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.28 451.00 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.86 451.00 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (Deferr) Tj ET Q
q 0 0 0 rg BT 80.94 424.60 Td (ed Financing Costs) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.17 424.60 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 50.00 411.40 Td (on the Consolidated Statements of Earnings over the related financing period using the ef) Tj ET Q
q 0 0 0 rg BT 442.94 411.40 Td (fective interest method. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 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 50.00 385.00 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 50.00 371.80 Td (Consolidated Balance Sheets.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (Income ) Tj ET Q
q 0 0 0 rg BT 87.38 345.40 Td (T) Tj ET Q
q 0 0 0 rg BT 93.70 345.40 Td (axes) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 113.87 345.40 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 50.00 332.20 Td (liabilities are recognized for the future tax consequences attributable to dif) Tj ET Q
q 0 0 0 rg BT 377.22 332.20 Td (ferences between the financial statement ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 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 50.00 305.80 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 50.00 292.60 Td (years in which those temporary dif) Tj ET Q
q 0 0 0 rg BT 202.84 292.60 Td (ferences are expected to be recovered or settled. ) Tj ET Q
q 0 0 0 rg BT 416.71 292.60 Td (The ef) Tj ET Q
q 0 0 0 rg BT 444.91 292.60 Td (fect on deferred tax assets ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 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 527.52 279.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (Company recognizes the ef) Tj ET Q
q 0 0 0 rg BT 169.84 266.20 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 50.00 253.00 Td (sustained. Recognized income tax positions are measured at the lar) Tj ET Q
q 0 0 0 rg BT 344.26 253.00 Td (gest amount that is greater than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.77 253.00 Td (50 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 530.89 253.00 Td ( likely ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 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 50.00 226.60 Td (judgment occurs.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (Self-Insurance) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 118.44 200.20 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 50.00 187.00 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 448.73 187.00 Td (The dollar level varies ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (based on the insurance plan, and is generally ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.46 173.80 Td ($500 thousand) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.93 173.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 319.23 173.80 Td (Third-party administrators are used to process claims. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (The Company uses actual claims data and estimates of claims incurred-but-not-reported to calculate estimated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (liabilities for unsettled claims on an undiscounted basis. ) Tj ET Q
q 0 0 0 rg BT 298.38 147.40 Td (Although management re-evaluates the assumptions and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (reviews the claims experience on an ongoing basis, actual claims paid could vary significantly from estimated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (claims.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (Pensions and Postr) Tj ET Q
q 0 0 0 rg BT 139.04 94.60 Td (etir) Tj ET Q
q 0 0 0 rg BT 155.32 94.60 Td (ement Benefits Other) Tj ET Q
q 0 0 0 rg BT 255.32 94.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 257.87 94.60 Td (Than Pensions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.64 94.60 Td (�Retirement benefits are provided to employees ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (through pension plans sponsored by the Company) Tj ET Q
q 0 0 0 rg BT 269.26 81.40 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 68.20 Td (interest credits allocated to participants�) Tj ET Q
q 0 0 0 rg BT 225.11 68.20 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 55.00 Td (It is the Company�) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 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 50.00 728.20 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
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q 0 0 0 rg BT 95.83 715.00 Td (s policy to fund postretirement benefits as claims are paid. ) Tj ET Q
q 0 0 0 rg BT 354.57 715.00 Td (Additional information is provided in ) 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 557.43 715.00 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (Shar) Tj ET Q
q 0 0 0 rg BT 72.42 688.60 Td (e-based Compensation) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.46 688.60 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 50.00 675.40 Td (recognizes the related expense over the appropriate vesting period. ) Tj ET Q
q 0 0 0 rg BT 346.07 675.40 Td (The Company recognizes expense for stock ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (options, restricted stock, restricted stock units, and shares issued under the Company�) Tj ET Q
q 0 0 0 rg BT 425.76 662.20 Td (s employee stock purchase ) 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 93.07 649.00 Td (Note�13) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.20 649.00 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 50.00 622.60 Td (Redeemable Pr) Tj ET Q
q 0 0 0 rg BT 121.58 622.60 Td (eferr) Tj ET Q
q 0 0 0 rg BT 144.57 622.60 Td (ed Stock) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 184.60 622.60 Td (�The Company has outstanding ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.48 622.60 Td (650,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.23 622.60 Td ( shares of perpetual convertible redeemable ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (non-voting preferred stock, par value ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.16 609.40 Td ($1.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 240.91 609.40 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 479.15 609.40 Td ($1,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.40 609.40 Td ( per share ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (\(the Series ) Tj ET Q
q 0 0 0 rg BT 98.88 596.20 Td (A) Tj ET Q
q 0 0 0 rg BT 106.21 596.20 Td ( preferred stock\). 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 50.00 583.00 Td (preferred stock and other freestanding financial instruments issued with the preferred stock. ) Tj ET Q
q 0 0 0 rg BT 455.74 583.00 Td (The preferred stock is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (classified as mezzanine equity and is accreted to its redemption value. ) Tj ET Q
q 0 0 0 rg BT 360.33 569.80 Td (Additional information is provided in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (Note�14) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 85.13 556.60 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (Compr) Tj ET Q
q 0 0 0 rg BT 83.41 530.20 Td (ehensive Income) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.70 530.20 Td (�Comprehensive income consists of net earnings and other gains and losses af) Tj ET Q
q 0 0 0 rg BT 510.29 530.20 Td (fecting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (shareholders�) Tj ET Q
q 0 0 0 rg BT 108.44 517.00 Td ( equity that, under U.S. GAAP) Tj ET Q
q 0 0 0 rg BT 242.26 517.00 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 50.00 503.80 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 50.00 490.60 Td (taxes; unrealized gains or losses resulting from foreign currency translation, net of taxes; and changes in the fair ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (value of interest rate swap agreements, net of taxes, to the extent that they are ef) Tj ET Q
q 0 0 0 rg BT 402.57 477.40 Td (fective. ) Tj ET Q
q 0 0 0 rg BT 437.38 477.40 Td (As of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.27 477.40 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.69 477.40 Td (, there ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (were no amounts in other comprehensive income \(loss\) related to the interest rate swaps as such were settled in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (fiscal 2018, and all previously unrealized changes in other comprehensive income \(loss\) were recognized in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (earnings. Refer to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 131.25 437.80 Td (Note�7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.88 437.80 Td ( for additional discussion on the swap termination.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (Earnings Per) Tj ET Q
q 0 0 0 rg BT 111.83 411.40 Td ( Shar) Tj ET Q
q 0 0 0 rg BT 137.00 411.40 Td (e) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 141.88 411.40 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 50.00 398.20 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 50.00 385.00 Td (share calculation incorporates the shares utilized in the basic calculation but also includes the dilutive ef) Tj ET Q
q 0 0 0 rg BT 507.67 385.00 Td (fect, if any) Tj ET Q
q 0 0 0 rg BT 554.29 385.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (of the assumed exercise or conversion of securities, including the ef) Tj ET Q
q 0 0 0 rg BT 348.23 371.80 Td (fect of shares issuable under the Company�) Tj ET Q
q 0 0 0 rg BT 537.62 371.80 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (share-based incentive plans. In connection with the issuance of the Series�) Tj ET Q
q 0 0 0 rg BT 375.01 358.60 Td (A) Tj ET Q
q 0 0 0 rg BT 382.35 358.60 Td ( preferred stock and detachable warrants ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (on 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 50.00 332.20 Td (calculation of earnings per share. ) Tj ET Q
q 0 0 0 rg BT 198.24 332.20 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 50.00 319.00 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 50.00 305.80 Td (participating rights in other securities in undistributed earnings. ) Tj ET Q
q 0 0 0 rg BT 331.36 305.80 Td (Additional information is provided in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.09 305.80 Td (Note�16) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.22 305.80 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (Adopted ) Tj ET Q
q 0 0 0 rg BT 92.49 279.40 Td (Accounting Pr) Tj ET Q
q 0 0 0 rg BT 160.42 279.40 Td (onouncements) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 227.64 279.40 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 Financial ) Tj ET Q
q 0 0 0 rg BT 244.01 253.00 Td (Accounting Standards Board \(F) Tj ET Q
q 0 0 0 rg BT 382.81 253.00 Td (ASB\) issued ) Tj ET Q
q 0 0 0 rg BT 440.26 253.00 Td (Accounting Standards ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (Update \(ASU\) 2014-09, ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 158.76 239.80 Td (Revenue fr) Tj ET Q
q 0 0 0 rg BT 205.69 239.80 Td (om Contracts with Customers) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.78 239.80 Td ( \(T) Tj ET Q
q 0 0 0 rg BT 349.15 239.80 Td (opic�606\) \(ASC�606\) that updated and replaced ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (existing revenue recognition guidance. ) Tj ET Q
q 0 0 0 rg BT 222.99 226.60 Td (The guidance includes a five-step framework to determine the timing and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (amount of revenue to recognize related to contracts with customers. ) Tj ET Q
q 0 0 0 rg BT 350.25 213.40 Td (Additionally) Tj ET Q
q 0 0 0 rg BT 405.15 213.40 Td (, the guidance requires new and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (significantly enhanced disclosures about the nature, amount, timing, and uncertainty of revenue and cash flows ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (from customer contracts as well as judgments made by a company when following the framework.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (The Company adopted the standard, including all updates made to the standard since original issuance, on July�1, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (2018, using the modified retrospective method. ) Tj ET Q
q 0 0 0 rg BT 260.59 147.40 Td (The standard was applied to all contracts open as of July�1, 2018. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (The cumulative prior period ef) Tj ET Q
q 0 0 0 rg BT 184.80 134.20 Td (fect of applying ) Tj ET Q
q 0 0 0 rg BT 256.59 134.20 Td (ASC�606 was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 319.84 134.20 Td ($2.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.62 134.20 Td (, which resulted in an increase to retained ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (earnings upon adoption.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (The standard does not change the timing or pattern of revenue recognition for most of the Company's revenue ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (contracts with the exception of contracts with value-added items or those that require combination under the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (standard. Refer to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 131.25 68.20 Td (Note�1) Tj ET Q
q 0 0 0 rg BT 160.47 68.20 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 165.97 68.20 Td ( for further discussion on the impacts of the adoption of this accounting standard.) 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 (The Company utilized various practical expedients of) Tj ET Q
q 0 0 0 rg BT 285.61 741.40 Td (fered by the guidance in our implementation. For the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (Company's contracts that have an original duration of twelve months or less, the Company does not impute interest ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (to account for a financing element. For all contracts with an original term of twelve months or less and for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (performance obligations tied to sales-based or usage-based royalties, the Company has not disclosed the transaction ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (price for the remaining performance obligations as of the end of each reporting period or when the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (expects to recognize this revenue. Finally) Tj ET Q
q 0 0 0 rg BT 231.95 675.40 Td (, consistent with historical practice, the Company excludes amounts ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (collected from customers for sales taxes from its transaction prices.) 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 disclosures. 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 balance sheet. It also requires public entities to use the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (exit price when measuring the fair value of financial instruments for disclosure purposes. ) Tj ET Q
q 0 0 0 rg BT 444.46 569.80 Td (The guidance was adopted ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (in the first quarter of fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 197.65 556.60 Td (The adoption of this guidance required a change in the Company's disclosures ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (only and did not have an impact on the Company's financial position, 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�2016-15�In ) Tj ET Q
q 0 0 0 rg BT 133.72 517.00 Td (August 2016, the F) Tj ET Q
q 0 0 0 rg BT 217.25 517.00 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 50.00 503.80 Td (certain cash receipts and payments in the statement of cash flows. ) Tj ET Q
q 0 0 0 rg BT 341.81 503.80 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 50.00 490.60 Td (practice regarding how certain transactions are classified within the statement of cash flows. ) Tj ET Q
q 0 0 0 rg BT 458.48 490.60 Td (The update was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 477.40 Td (fective beginning in the first quarter of fiscal 2019 and was adopted retrospectively as required by the ) Tj ET Q
q 0 0 0 rg BT 507.67 477.40 Td (ASU.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (As a result of the update, the Company reclassified a cash outflow of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.08 451.00 Td ($0.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.86 451.00 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 431.24 451.00 Td ($0.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 485.02 451.00 Td ( for the years ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (ended June�30, 2018 and 2017, respectively) Tj ET Q
q 0 0 0 rg BT 241.74 437.80 Td (, from financing activities to operating activities related to contingent ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (considerations paid in excess of that recognized as a liability on the date of acquisition. For the year ended June�30, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (2018, the Company also reclassified a cash inflow of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 285.83 411.40 Td ($0.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 339.61 411.40 Td ( from operating activities to investing activities ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (related to cash proceeds from corporate owned life insurance. ) Tj ET Q
q 0 0 0 rg BT 323.46 398.20 Td (The update is not expected to have a material impact ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (on the classification of future cash flows.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (ASU�2017-01�In January 2017, the F) Tj ET Q
q 0 0 0 rg BT 220.28 358.60 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 50.00 345.40 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 50.00 332.20 Td (assets or a business. ) Tj ET Q
q 0 0 0 rg BT 140.54 332.20 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 50.00 319.00 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 50.00 305.80 Td (identifiable assets, the acquired assets do not represent a business. If this test is not met, the update provides further ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (guidance to evaluate if the acquisition represents a business. ) Tj ET Q
q 0 0 0 rg BT 317.38 292.60 Td (The Company prospectively adopted the guidance in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (the first quarter of fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 186.34 279.40 Td (The adoption did not have an impact to the Company�) Tj ET Q
q 0 0 0 rg BT 423.70 279.40 Td (s consolidated financial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (statements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (ASU�2017-07�In March 2017, the F) Tj ET Q
q 0 0 0 rg BT 214.78 239.80 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 50.00 226.60 Td (pension and postretirement benefit costs. ) Tj ET Q
q 0 0 0 rg BT 232.48 226.60 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 50.00 213.40 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 50.00 200.20 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 50.00 187.00 Td (compensation costs. ) Tj ET Q
q 0 0 0 rg BT 141.15 187.00 Td (The other components of net periodic benefit costs must be presented separately from the line ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (items that include the service cost and outside of the income from operations subtotal.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (As required by the standard, the Company adopted the update on July�1, 2018, retrospectively to July�1, 2016, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (which resulted in an increase in production, distribution, and editorial expenses of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.52 134.20 Td ($5.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.30 134.20 Td (; a decrease in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (selling, general, and administrative expenses of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 261.38 121.00 Td ($4.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.16 121.00 Td (; and an increase in non-operating income, net of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 533.25 121.00 Td ($0.9 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 107.80 Td ( for the year ended June�30, 2017. For the year ended June�30, 2018, the adoption of this update resulted in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (an increase in production, distribution, and editorial expenses of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 335.01 94.60 Td ($3.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 388.79 94.60 Td (; an increase in selling, general, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (administrative expenses of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.05 81.40 Td ($9.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 223.83 81.40 Td (; and an increase in non-operating income, net of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.92 81.40 Td ($12.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.20 81.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 506.50 81.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (Company elected the practical expedient allowed by the update and utilized previously disclosed components of net ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.00 Td (periodic benefit costs from the pension and other postretirement benefit plan note in the June�30, 2018, Form�10-K. ) 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 (For the year ended June�30, 2019, the implementation of this guidance resulted in an increase in production, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (distribution, and editorial expenses of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 218.63 728.20 Td ($2.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 272.41 728.20 Td (; an increase in selling, general, and administrative expenses of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td ($12.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.28 715.00 Td (; and an increase in non-operating income, net of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 327.37 715.00 Td ($15.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 386.65 715.00 Td (, compared to that which would have ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (been reported under previous guidance.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (ASU�2017-09�In May 2017, the F) Tj ET Q
q 0 0 0 rg BT 206.23 675.40 Td (ASB issued additional guidance that clarifies when changes to the terms or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (conditions of a share-based payment award must be accounted for as modifications. Under this guidance, an entity ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (does not apply modification accounting to a share-based payment award if the award's fair value, vesting ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (conditions, and classification as an equity or liability instrument are the same immediately before and after the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (change. ) Tj ET Q
q 0 0 0 rg BT 86.45 622.60 Td (This guidance was adopted in the first quarter of fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 356.28 622.60 Td (The adoption of this guidance did not have an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (impact on the Company's consolidated financial statements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (ASU�2018-15�In ) Tj ET Q
q 0 0 0 rg BT 133.72 583.00 Td (August 2018, the F) Tj ET Q
q 0 0 0 rg BT 217.25 583.00 Td (ASB issued guidance on accounting for costs of implementation activities ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (performed in a cloud computing arrangement that is a service contract. ) Tj ET Q
q 0 0 0 rg BT 363.79 569.80 Td (The amendments in the update align the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (hosting arrangements that include an internal-use software license. ) Tj ET Q
q 0 0 0 rg BT 345.78 530.20 Td (The guidance is ef) Tj ET Q
q 0 0 0 rg BT 426.52 530.20 Td (fective for the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (beginning in the first quarter of fiscal 2021 with early adoption permitted. ) Tj ET Q
q 0 0 0 rg BT 377.58 517.00 Td (The amendments in the update can be ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. ) Tj ET Q
q 0 0 0 rg BT 531.80 503.80 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (Company adopted this guidance prospectively) Tj ET Q
q 0 0 0 rg BT 252.74 490.60 Td (, ef) Tj ET Q
q 0 0 0 rg BT 266.58 490.60 Td (fective July�1, 2018. ) Tj ET Q
q 0 0 0 rg BT 358.64 490.60 Td (The adoption did not have a material impact ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (on the Company's consolidated financial statements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (In ) Tj ET Q
q 0 0 0 rg BT 61.31 451.00 Td (August 2018, the SEC issued a final rule that amends certain of its disclosure requirements. Specifically) Tj ET Q
q 0 0 0 rg BT 518.51 451.00 Td (, the final ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (rule modifies or eliminates disclosures that are redundant, duplicative, overlapping, outdated, or superseded in light ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (of other SEC or U.S. GAAP) Tj ET Q
q 0 0 0 rg BT 173.95 424.60 Td ( disclosure requirements or changes in the information environment. Several aspects of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (the final rule are applicable to the Company but did not have a material impact on the Company's consolidated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (financial statements. ) Tj ET Q
q 0 0 0 rg BT 142.96 398.20 Td (The amendments were ef) Tj ET Q
q 0 0 0 rg BT 253.63 398.20 Td (fective November�5, 2018, and were implemented in the first quarter ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (of fiscal 2019.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (Pending ) Tj ET Q
q 0 0 0 rg BT 90.65 358.60 Td (Accounting Pr) Tj ET Q
q 0 0 0 rg BT 158.59 358.60 Td (onouncements) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 225.81 358.60 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (ASU�2016-02�In February 2016, the F) Tj ET Q
q 0 0 0 rg BT 225.78 332.20 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 50.00 319.00 Td (accounting standards. ) Tj ET Q
q 0 0 0 rg BT 147.86 319.00 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 50.00 305.80 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 50.00 292.60 Td (greater than 12 months. ) Tj ET Q
q 0 0 0 rg BT 156.41 292.60 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 50.00 279.40 Td (amount, timing, and uncertainty of cash flows arising from leases. ) Tj ET Q
q 0 0 0 rg BT 343.37 279.40 Td (T) Tj ET Q
q 0 0 0 rg BT 349.70 279.40 Td (reatment of lease payments in the statement of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (earnings and statement of cash flows is relatively unchanged from previous guidance. ) Tj ET Q
q 0 0 0 rg BT 429.49 266.20 Td (This standard is required to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (be applied using a modified retrospective approach, which gives the option of applying the new guidance as of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 239.80 Td (fective date with enhanced disclosure requirements for comparative periods presented under prior lease guidance ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (or applying the new standard at the beginning of the earliest comparative period presented. ) Tj ET Q
q 0 0 0 rg BT 452.08 226.60 Td (The F) Tj ET Q
q 0 0 0 rg BT 477.23 226.60 Td (ASB issued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (amendments to further clarify provisions of this guidance. ) Tj ET Q
q 0 0 0 rg BT 307.93 213.40 Td (The standard, including the amendments made since ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (initial issuance, is ef) Tj ET Q
q 0 0 0 rg BT 139.61 200.20 Td (fective for the Company beginning July�1, 2019, with early adoption permitted.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (The Company will adopt this standard on July�1, 2019, using the ef) Tj ET Q
q 0 0 0 rg BT 345.54 173.80 Td (fective date as the date of initial application. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (Consequently) Tj ET Q
q 0 0 0 rg BT 109.78 160.60 Td (, prior) Tj ET Q
q 0 0 0 rg BT 136.44 160.60 Td (-period financial information will not be updated and disclosures required under the new ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (standard will not be provided for dates and periods before July�1, 2019. ) Tj ET Q
q 0 0 0 rg BT 366.59 147.40 Td (The Company intends to elect the practical ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (expedient package permitted under transition guidance, which allows prior conclusions about lease identification ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (and initial direct costs to not be reassessed and historical lease classification to be carried forward. ) Tj ET Q
q 0 0 0 rg BT 485.06 121.00 Td (The Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.80 Td (also currently does not expect to elect the use of the hindsight practical expedient and will make accounting policy ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (elections to exempt leases with an initial term of twelve months or less from balance sheet recognition and not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (separate lease and non-lease components for certain asset classes of leases.) 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 is in the process of finalizing its implementation ef) Tj ET Q
q 0 0 0 rg BT 338.79 741.40 Td (forts which include evaluating the existing lease ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (portfolio and implementing a new lease accounting and administration system. ) Tj ET Q
q 0 0 0 rg BT 398.97 728.20 Td (While the Company is still ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (quantifying the ef) Tj ET Q
q 0 0 0 rg BT 128.00 715.00 Td (fect of adoption, it does expect a material impact on the Consolidated Balance Sheet due to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (recognition of the right-of-use assets and related liabilities for operating leases and the inclusion of significantly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (new disclosures about leasing activities on both a quarterly and annual basis.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (ASU�2016-13�In June 2016, the F) Tj ET Q
q 0 0 0 rg BT 206.23 662.20 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 50.00 649.00 Td (recognizing credit losses with a current expected credit loss methodology) Tj ET Q
q 0 0 0 rg BT 372.16 649.00 Td (. Under this standard, the establishment of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 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 50.00 622.60 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 50.00 609.40 Td (probable of occurring. ) Tj ET Q
q 0 0 0 rg BT 150.60 609.40 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 50.00 596.20 Td (instruments, including trade receivables. ) Tj ET Q
q 0 0 0 rg BT 230.23 596.20 Td (A) Tj ET Q
q 0 0 0 rg BT 237.56 596.20 Td ( modified retrospective implementation of this standard is ef) Tj ET Q
q 0 0 0 rg BT 503.13 596.20 Td (fective in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (Company�) Tj ET Q
q 0 0 0 rg BT 95.83 583.00 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 504.05 583.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 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 50.00 543.40 Td (ASU�2017-04�In January 2017, the F) Tj ET Q
q 0 0 0 rg BT 220.28 543.40 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 50.00 530.20 Td (measurement of goodwill by eliminating Step�2 of the goodwill impairment test. ) Tj ET Q
q 0 0 0 rg BT 406.32 530.20 Td (The Step�2 test requires an entity ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (to calculate the implied fair value of goodwill to measure a goodwill impairment char) Tj ET Q
q 0 0 0 rg BT 426.43 517.00 Td (ge. Instead, an entity will ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (record an impairment char) Tj ET Q
q 0 0 0 rg BT 166.16 503.80 Td (ge based on the excess of a reporting unit�) Tj ET Q
q 0 0 0 rg BT 351.27 503.80 Td (s carrying value over its fair value determined ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (in Step�1. ) Tj ET Q
q 0 0 0 rg BT 94.41 490.60 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 50.00 477.40 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 50.00 464.20 Td (permitted. ) Tj ET Q
q 0 0 0 rg BT 97.45 464.20 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 50.00 451.00 Td (statements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (ASU�2018-13�In ) Tj ET Q
q 0 0 0 rg BT 133.72 424.60 Td (August 2018, the F) Tj ET Q
q 0 0 0 rg BT 217.25 424.60 Td (ASB issued an accounting standards update which changes the fair value ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (measurement disclosure requirements. ) Tj ET Q
q 0 0 0 rg BT 221.47 411.40 Td (The update removes, modifies, and adds certain additional disclosures. ) Tj ET Q
q 0 0 0 rg BT 535.29 411.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (ef) Tj ET Q
q 0 0 0 rg BT 58.35 398.20 Td (fective date is the first quarter of fiscal 2021, with early adoption permitted for any eliminated or modified ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (disclosures. ) Tj ET Q
q 0 0 0 rg BT 104.18 385.00 Td (The adoption of this guidance requires a change in disclosures only and is not expected to have an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (impact on the Company's consolidated financial statements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (ASU�2018-14�In ) Tj ET Q
q 0 0 0 rg BT 133.72 345.40 Td (August 2018, the F) Tj ET Q
q 0 0 0 rg BT 217.25 345.40 Td (ASB issued an accounting standards update which adds, removes, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (modifies disclosure requirements related to defined benefit pension and other postretirement plans. ) Tj ET Q
q 0 0 0 rg BT 487.53 332.20 Td (The update ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (amends only annual disclosure requirements. Retrospective adoption of the update is required in fiscal 2022 with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (early adoption permitted. ) Tj ET Q
q 0 0 0 rg BT 163.43 305.80 Td (The adoption of this guidance requires a change in disclosures only and is not expected to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (have an impact on the Company's consolidated financial statements.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (ASU�2019-02�In March 2019, the F) Tj ET Q
q 0 0 0 rg BT 214.78 266.20 Td (ASB issued an accounting standards update which aligns the accounting for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (production costs of episodic television series with the accounting for production costs of films. In addition, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (update modifies certain aspects of the capitalization, impairment, presentation, and disclosure requirements in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (accounting standards for entities in the film and broadcast entertainment industries. ) Tj ET Q
q 0 0 0 rg BT 418.81 226.60 Td (The update is ef) Tj ET Q
q 0 0 0 rg BT 489.16 226.60 Td (fective for the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (Company in the first quarter of fiscal 2021 and must be applied prospectively) Tj ET Q
q 0 0 0 rg BT 390.20 213.40 Td (. Early adoption is permitted. ) Tj ET Q
q 0 0 0 rg BT 521.06 213.40 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (Company is currently assessing the impact this update will have on the Company's consolidated financial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (statements.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (2. ) Tj ET Q
q 0 0 0 rg BT 63.14 147.40 Td (Acquisitions) Tj ET Q
BT /F1 11.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 120.70 Td (Fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.20 Td (On February�28, 2019, Meredith acquired ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 236.34 107.20 Td (100 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 287.96 107.20 Td ( of the membership interests in Linfield Media, LLC \(Linfield ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.00 Td (Media\), a marketing business focused on online savings and deals, for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 361.29 94.00 Td ($16.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.57 94.00 Td ( in cash. ) Tj ET Q
q 0 0 0 rg BT 459.47 94.00 Td (The results of Linfield ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 80.80 Td (Media have been included in the consolidated financial statements since that date.) 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 (identifiable assets acquired and liabilities assumed for the national media segment during the year ended June�30, ) Tj ET Q
BT /F2 11.00 Tf ET
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[] 0 d
0 J
0 j
3 M
464 588.5 m
524 588.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
464 558.5 m
524 558.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 558.5 m
464 558.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 543.5 m
464 543.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
464 543.5 m
524 543.5 l
s
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 89.50 682.95 Td (\(In millions\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 668.40 Td (Consideration) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 653.37 Td (Cash) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 114.00 653.37 Td (..............................................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.50 653.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 653.37 Td (16.6) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 623.40 Td (Recognized amounts of identifiable assets acquir) Tj ET Q
q 0 0 0 rg BT 317.03 623.40 Td (ed and liabilities assumed) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 608.37 Td (T) Tj ET Q
q 0 0 0 rg BT 95.83 608.37 Td (otal identifiable assets acquired) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 235.00 608.37 Td (..................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.50 608.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.05 608.37 Td (6.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 593.37 Td (T) Tj ET Q
q 0 0 0 rg BT 95.83 593.37 Td (otal liabilities assumed) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.50 593.37 Td (................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 593.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 578.37 Td (T) Tj ET Q
q 0 0 0 rg BT 95.83 578.37 Td (otal identified net assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 202.00 578.37 Td (..............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.05 578.37 Td (6.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 563.37 Td (Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 133.25 563.37 Td (.......................................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 563.37 Td (10.6) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 548.40 Td (Net assets acquir) Tj ET Q
q 0 0 0 rg BT 168.73 548.40 Td (ed) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 180.00 548.37 Td (......................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.50 548.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 548.37 Td (16.6) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 518.80 Td (The following table provides details of the identifiable acquired intangible assets in the acquisition:) Tj ET Q
0.8 0.9333333333333333 1 rg
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135.50 466.50 280.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
415.50 466.50 60.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
135.50 438.50 280.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
415.50 438.50 60.00 -14.00 re f
/GS0 gs
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
135.5 494.5 m
415.5 494.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
135.5 480.5 m
415.5 480.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
415.5 494.5 m
475.5 494.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
415.5 480.5 m
475.5 480.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
415.5 438.5 m
475.5 438.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
135.5 438.5 m
415.5 438.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
135.5 424.5 m
415.5 424.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
415.5 424.5 m
475.5 424.5 l
s
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 138.00 484.95 Td (\(In millions\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 138.00 470.55 Td (Intangible assets subject to amortization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 147.00 456.37 Td (Partner relationships) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 238.75 456.37 Td (...............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 418.00 456.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.55 456.37 Td (3.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 147.00 442.37 Td (Other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 172.75 442.37 Td (.......................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.55 442.37 Td (1.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.00 428.37 Td (T) Tj ET Q
q 0 0 0 rg BT 143.95 428.37 Td (otal intangible assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 236.00 428.37 Td (................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 418.00 428.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.55 428.37 Td (4.4) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.30 Td (The useful life of the partnership relationships is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.28 398.30 Td (10 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.24 398.30 Td (, and other intangible assets' useful lives range between ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.10 Td (one year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 87.56 385.10 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 108.94 385.10 Td (six years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 147.74 385.10 Td (. ) Tj ET Q
q 0 0 0 rg BT 153.04 385.10 Td (The goodwill is attributable primarily to expected syner) Tj ET Q
q 0 0 0 rg BT 398.13 385.10 Td (gies and the assembled workforces. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.90 Td (Goodwill, with an assigned value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 211.61 371.90 Td ($10.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 270.89 371.90 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 50.00 345.50 Td (During fiscal 2019, there were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.84 345.50 Td ($0.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 240.62 345.50 Td ( acquisition related costs incurred. ) Tj ET Q
q 0 0 0 rg BT 393.76 345.50 Td (These costs are included in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.30 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 50.00 305.60 Td (Fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.10 Td (On January�31, 2018, Meredith completed its acquisition of all the outstanding shares of ) Tj ET Q
q 0 0 0 rg BT 440.83 292.10 Td (T) Tj ET Q
q 0 0 0 rg BT 447.17 292.10 Td (ime for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 481.99 292.10 Td ($18.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 512.24 292.10 Td ( per share, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 278.90 Td (for a total transaction value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 185.00 278.90 Td ($3.2 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 235.73 278.90 Td (, including the repayment of ) Tj ET Q
q 0 0 0 rg BT 362.60 278.90 Td (T) Tj ET Q
q 0 0 0 rg BT 368.94 278.90 Td (ime�) Tj ET Q
q 0 0 0 rg BT 388.49 278.90 Td (s outstanding debt. ) Tj ET Q
q 0 0 0 rg BT 473.43 278.90 Td (As part of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 265.70 Td (Acquisition, Meredith also repaid its outstanding debt. ) Tj ET Q
q 0 0 0 rg BT 292.07 265.70 Td (These transactions were funded through a combination of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 252.50 Td (borrowings under the Company�) Tj ET Q
q 0 0 0 rg BT 192.67 252.50 Td (s new ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.78 252.50 Td ($1.8 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.50 252.50 Td ( secured term loan facility) Tj ET Q
q 0 0 0 rg BT 385.63 252.50 Td (, the issuance of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.25 252.50 Td ($1.4 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.97 252.50 Td ( of senior ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.30 Td (unsecured notes, the issuance of preferred equity) Tj ET Q
q 0 0 0 rg BT 264.01 239.30 Td (, and cash on hand \(refer to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 386.79 239.30 Td (Note�7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.42 239.30 Td ( for additional information on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.10 Td (the long-term debt and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 152.64 226.10 Td (Note�14) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 187.77 226.10 Td ( for additional information on the preferred equity\).) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 199.70 Td (In accordance with the mer) Tj ET Q
q 0 0 0 rg BT 169.52 199.70 Td (ger agreement, certain of ) Tj ET Q
q 0 0 0 rg BT 282.00 199.70 Td (T) Tj ET Q
q 0 0 0 rg BT 288.34 199.70 Td (ime�) Tj ET Q
q 0 0 0 rg BT 307.89 199.70 Td (s outstanding restricted stock units, performance stock ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 186.50 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 485.60 186.50 Td ($18.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 515.85 186.50 Td ( per share, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.30 Td (and paid in cash. ) Tj ET Q
q 0 0 0 rg BT 126.47 173.30 Td (The value of these awards was apportioned between total purchase price consideration and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.10 Td (immediate expense. ) Tj ET Q
q 0 0 0 rg BT 139.91 160.10 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 50.00 146.90 Td (on the Consolidated Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 247.67 146.90 Td (Additionally) Tj ET Q
q 0 0 0 rg BT 302.56 146.90 Td (, certain of ) Tj ET Q
q 0 0 0 rg BT 352.45 146.90 Td (T) Tj ET Q
q 0 0 0 rg BT 358.78 146.90 Td (ime�) Tj ET Q
q 0 0 0 rg BT 378.33 146.90 Td (s outstanding stock options and restricted ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 133.70 Td (stock units were converted into mirror awards exercisable or earned in Meredith common stock. ) Tj ET Q
q 0 0 0 rg BT 475.30 133.70 Td (The conversion ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 120.50 Td (was based on a ratio of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.86 120.50 Td ($18.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 184.11 120.50 Td ( to the volume-weighted average per share closing price for Meredith�) Tj ET Q
q 0 0 0 rg BT 491.99 120.50 Td (s stock on the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 107.30 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 94.10 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 80.90 Td (to be recognized over the remaining original vesting periods of the awards.) 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 (75) 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 aggregate purchase price consideration paid to acquire ) Tj ET Q
q 0 0 0 rg BT 452.98 741.40 Td (T) Tj ET Q
q 0 0 0 rg BT 459.31 741.40 Td (ime:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
62.50 701.70 419.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 701.70 67.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
62.50 671.70 419.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 671.70 67.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
62.50 641.70 419.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 641.70 67.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
62.50 611.70 419.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 611.70 67.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
62.50 569.70 419.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 569.70 67.00 -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
62.5 717.7 m
481.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
62.5 701.7 m
481.5 701.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 717.7 m
548.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 701.7 m
548.5 701.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 701.7 m
548.5 701.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
62.5 656.7 m
481.5 656.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 656.7 m
548.5 656.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
62.5 626.7 m
481.5 626.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 626.7 m
548.5 626.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 569.7 m
548.5 569.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
62.5 569.7 m
481.5 569.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
62.5 554.7 m
481.5 554.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 569.7 m
548.5 569.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 554.7 m
548.5 554.7 l
s
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 65.00 706.15 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 691.57 Td (Consideration paid to ) Tj ET Q
q 0 0 0 rg BT 162.36 691.57 Td (T) Tj ET Q
q 0 0 0 rg BT 168.79 691.57 Td (ime shareholders) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 244.25 691.57 Td (.....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.00 691.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.25 691.57 Td (1,860.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 676.57 Td (Repayment of ) Tj ET Q
q 0 0 0 rg BT 129.66 676.57 Td (T) Tj ET Q
q 0 0 0 rg BT 136.09 676.57 Td (ime�) Tj ET Q
q 0 0 0 rg BT 155.75 676.57 Td (s outstanding debt, including prepayment penalty) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.50 676.57 Td (......................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.25 676.57 Td (1,327.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 661.57 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 390.00 661.57 Td (................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.05 661.57 Td (37.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 646.57 Td (T) Tj ET Q
q 0 0 0 rg BT 71.33 646.57 Td (otal cash consideration) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 172.75 646.57 Td (...............................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.25 646.57 Td (3,226.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 631.57 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 425.75 631.57 Td (...................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.05 631.57 Td (33.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 616.57 Td (T) Tj ET Q
q 0 0 0 rg BT 71.33 616.57 Td (otal consideration issued) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 181.00 616.57 Td (............................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.25 616.57 Td (3,260.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 600.62 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 467.00 600.57 Td (....) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.85 600.62 Td (\(9.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 544.30 600.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 585.57 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 65.00 574.57 Td (through fiscal 2021) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 150.75 574.57 Td (.......................................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.35 574.62 Td (\(24.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 544.30 574.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 65.00 559.57 Td (T) Tj ET Q
q 0 0 0 rg BT 70.95 559.57 Td (otal purchase price consideration) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.75 559.57 Td (...............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.00 559.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.25 559.57 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 50.00 528.80 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 376.21 528.80 Td (175 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.24 528.80 Td ( ) Tj ET Q
q 0 0 0 rg BT 429.38 528.80 Td (American consumers. ) Tj ET Q
q 0 0 0 rg BT 527.44 528.80 Td (At ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 515.60 Td (Acquisition close, the combined portfolio of brands had a readership of more than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.51 515.60 Td (120 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.54 515.60 Td ( and paid circulation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 502.40 Td (of more than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 108.95 502.40 Td (40 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 154.48 502.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 159.79 502.40 Td (The acquisition also increased Meredith�) Tj ET Q
q 0 0 0 rg BT 338.78 502.40 Td (s digital position with nearly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.41 502.40 Td (135 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 518.44 502.40 Td ( monthly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 489.20 Td (unique visitors in the U.S. ) Tj ET Q
q 0 0 0 rg BT 167.44 489.20 Td (While the majority of ) Tj ET Q
q 0 0 0 rg BT 264.99 489.20 Td (T) Tj ET Q
q 0 0 0 rg BT 271.32 489.20 Td (ime�) Tj ET Q
q 0 0 0 rg BT 290.87 489.20 Td (s operations are reported in Meredith�) Tj ET Q
q 0 0 0 rg BT 456.73 489.20 Td (s national media ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 476.00 Td (segment, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 92.16 476.00 Td (one) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 108.04 476.00 Td ( business unit of ) Tj ET Q
q 0 0 0 rg BT 182.40 476.00 Td (T) Tj ET Q
q 0 0 0 rg BT 188.73 476.00 Td (ime is reported in Meredith�) Tj ET Q
q 0 0 0 rg BT 312.14 476.00 Td (s local media segment and certain expenses are reported ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 462.80 Td (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 (76) 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 purchase price allocation of fair values of the assets acquired and liabilities ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (assumed at the date of acquisition. In fiscal 2019, the Company recorded purchase price allocation adjustments ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (relating to the ) Tj ET Q
q 0 0 0 rg BT 113.64 701.80 Td (T) Tj ET Q
q 0 0 0 rg BT 119.97 701.80 Td (ime acquisition that increased goodwill by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.38 701.80 Td ($24.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.66 701.80 Td (, reduced assets held-for) Tj ET Q
q 0 0 0 rg BT 475.34 701.80 Td (-sale by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 512.60 701.80 Td ($19.9 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 688.60 Td ( and increased deferred income tax liabilities by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.58 688.60 Td ($4.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.36 688.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 354.66 688.60 Td (These adjustments resulted from new ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (information about facts and circumstances that existed at the time of the acquisition. ) Tj ET Q
q 0 0 0 rg BT 423.08 675.40 Td (The measurement period is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (now closed.) Tj ET Q
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95.50 624.50 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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445.50 624.50 70.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
95.50 594.50 350.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 594.50 70.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
95.50 564.50 350.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 564.50 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
95.50 534.50 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 534.50 70.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
95.50 504.50 350.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 504.50 70.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
95.50 474.50 350.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 474.50 70.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
95.50 444.50 350.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 444.50 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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95.50 414.50 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 414.50 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
95.50 384.50 350.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 384.50 70.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
95.50 354.50 350.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
445.50 354.50 70.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
95.50 324.50 350.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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445.50 324.50 70.00 -15.00 re f
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95.5 638.5 m
445.5 638.5 l
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3 M
95.5 624.5 m
445.5 624.5 l
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1.00 w
0 i
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0 J
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3 M
445.5 638.5 m
515.5 638.5 l
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3 M
445.5 624.5 m
515.5 624.5 l
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0 i
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3 M
445.5 624.5 m
515.5 624.5 l
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0 i
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0 J
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3 M
95.5 549.5 m
445.5 549.5 l
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0 i
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0 J
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3 M
445.5 549.5 m
515.5 549.5 l
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3 M
445.5 489.5 m
515.5 489.5 l
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1.00 w
0 i
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0 J
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3 M
95.5 489.5 m
445.5 489.5 l
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3 M
95.5 474.5 m
445.5 474.5 l
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0 i
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3 M
445.5 489.5 m
515.5 489.5 l
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1.00 w
0 i
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3 M
445.5 474.5 m
515.5 474.5 l
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445.5 474.5 m
515.5 474.5 l
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95.5 414.5 m
445.5 414.5 l
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445.5 414.5 m
515.5 414.5 l
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445.5 354.5 m
515.5 354.5 l
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3 M
95.5 354.5 m
445.5 354.5 l
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95.5 339.5 m
445.5 339.5 l
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445.5 354.5 m
515.5 354.5 l
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445.5 339.5 m
515.5 339.5 l
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445.5 309.5 m
515.5 309.5 l
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95.5 309.5 m
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445.5 294.5 l
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445.5 309.5 m
515.5 309.5 l
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BT /F4 9.00 Tf ET
q 0 0 0 rg BT 98.00 628.95 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 614.37 Td (Cash and cash equivalents) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 216.50 614.37 Td (..................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.00 614.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 614.37 Td (399.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 599.37 Td (Accounts receivable) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 189.00 599.37 Td (............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 599.37 Td (293.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 584.37 Td (Inventory) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.25 584.37 Td (.............................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.05 584.37 Td (22.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 569.37 Td (Assets held-for) Tj ET Q
q 0 0 0 rg BT 164.79 569.37 Td (-sale) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.25 569.37 Td (.............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 569.37 Td (962.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 554.37 Td (Other current assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.25 554.37 Td (.............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.05 554.37 Td (60.5) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 98.00 539.40 Td (T) Tj ET Q
q 0 0 0 rg BT 104.83 539.40 Td (otal curr) Tj ET Q
q 0 0 0 rg BT 145.46 539.40 Td (ent assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 191.75 539.37 Td (...........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 539.37 Td (1,738.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 524.37 Td (Property) Tj ET Q
q 0 0 0 rg BT 135.52 524.37 Td (, plant, and equipment) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 235.75 524.37 Td (...........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 524.37 Td (300.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 509.37 Td (Other assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 153.25 509.37 Td (.........................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.05 509.37 Td (98.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 494.37 Td (Intangible assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 172.50 494.37 Td (..................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 494.37 Td (1,147.8) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 98.00 479.40 Td (T) Tj ET Q
q 0 0 0 rg BT 104.83 479.40 Td (otal identifiable assets acquir) Tj ET Q
q 0 0 0 rg BT 240.81 479.40 Td (ed) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 252.25 479.37 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 479.37 Td (3,285.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 464.37 Td (Accounts payable) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.00 464.37 Td (................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 464.37 Td (140.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 449.37 Td (Accrued liabilities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 180.75 449.37 Td (...............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 449.37 Td (195.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 434.37 Td (Current portion of unearned revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 263.25 434.37 Td (.................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 434.37 Td (198.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 419.37 Td (Liabilities associated with assets held-for) Tj ET Q
q 0 0 0 rg BT 279.34 419.37 Td (-sale) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 301.75 419.37 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 419.37 Td (305.5) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 98.00 404.40 Td (T) Tj ET Q
q 0 0 0 rg BT 104.83 404.40 Td (otal curr) Tj ET Q
q 0 0 0 rg BT 145.46 404.40 Td (ent liabilities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 208.25 404.37 Td (.....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 404.37 Td (840.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 389.37 Td (Unearned revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 183.50 389.37 Td (..............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.05 389.37 Td (45.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 374.37 Td (Deferred income taxes) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 200.00 374.37 Td (........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 374.37 Td (176.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 359.37 Td (Other noncurrent liabilities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 219.25 359.37 Td (.................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.55 359.37 Td (104.4) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 98.00 344.40 Td (T) Tj ET Q
q 0 0 0 rg BT 104.83 344.40 Td (otal liabilities assumed) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 211.00 344.37 Td (....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 344.37 Td (1,166.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 329.37 Td (T) Tj ET Q
q 0 0 0 rg BT 104.33 329.37 Td (otal identified net assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 211.00 329.37 Td (....................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 329.37 Td (2,1) Tj ET Q
q 0 0 0 rg BT 492.05 329.37 Td (19.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.00 314.37 Td (Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.25 314.37 Td (.............................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 314.37 Td (1,107.8) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 98.00 299.40 Td (Net assets acquir) Tj ET Q
q 0 0 0 rg BT 177.23 299.40 Td (ed) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 189.00 299.37 Td (............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.00 299.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.30 299.37 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 50.00 268.60 Td (The gross contractual amount of trade receivables acquired was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.52 268.60 Td ($360.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 397.30 268.60 Td ( and the contractual amount not ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 255.40 Td (expected to be collected was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.58 255.40 Td ($66.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 237.86 255.40 Td ( at the acquisition date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 229.00 Td (The following table provides details of the identifiable acquired intangible assets:) Tj ET Q
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/GS0 gs
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/GS0 gs
445.50 148.70 70.00 -14.00 re f
/GS0 gs
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/GS0 gs
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/GS0 gs
445.50 120.70 70.00 -14.00 re f
/GS0 gs
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/GS0 gs
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/GS0 gs
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/GS0 gs
445.50 91.70 70.00 -14.00 re f
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445.5 204.70000000000005 m
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BT /F2 11.00 Tf ET
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BT /F2 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 50.00 555.10 Td (of certain financial tar) Tj ET Q
q 0 0 0 rg BT 147.22 555.10 Td (gets. Due to the business having failed to achieve certain key tar) Tj ET Q
q 0 0 0 rg BT 429.87 555.10 Td (gets, the Company reduced ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 541.90 Td (the value of the contingent consideration in fiscal 2017. In fiscal 2019, the Company reversed the remaining ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 528.70 Td (recorded contingency and as a result recognized a non-cash credit to operations of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.77 528.70 Td ($5.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.55 528.70 Td ( in the selling, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 515.50 Td (general, and administrative expense line on the Consolidated Statements of Earnings.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 475.90 Td (3. Inventories) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 449.50 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 50.00 436.30 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 50.00 423.10 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 50.00 396.70 Td (Ef) Tj ET Q
q 0 0 0 rg BT 60.18 396.70 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 50.00 383.50 Td (the last-in, first-out \(LIFO\) method to the weighted average cost method. LIFO inventory income included in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 370.30 Td (Consolidated Statements of Earnings was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 235.44 370.30 Td ($1.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 289.22 370.30 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.28 370.30 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 351.85 370.30 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.23 370.30 Td ($1.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.01 370.30 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.07 370.30 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.64 370.30 Td (.) Tj ET Q
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BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F4 9.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.50 277.47 Td (..............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.55 277.47 Td (4.6) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 204.00 262.47 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 353.00 262.47 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.00 262.47 Td (62.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.00 262.47 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.00 262.47 Td (44.4) Tj ET Q
BT /F2 10.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 218.50 Td (4. ) Tj ET Q
q 0 0 0 rg BT 63.14 218.50 Td (Assets Held-for) Tj ET Q
q 0 0 0 rg BT 135.14 218.50 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 50.00 193.30 Td (Assets Held-for) Tj ET Q
q 0 0 0 rg BT 121.99 193.30 Td (-Sale) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 166.90 Td (The Company classifies an asset as being held-for) Tj ET Q
q 0 0 0 rg BT 270.02 166.90 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 50.00 153.70 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 50.00 140.50 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 50.00 127.30 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 50.00 114.10 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 50.00 100.90 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 87.70 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 87.70 Td (-sale are recorded at 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 61.30 Td (Note�10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 85.13 61.30 Td (. Fair value is preliminary and is expected to be finalized upon completion of the sales, which are expected ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 48.10 Td (to occur within calendar 2019. Property and equipment are not depreciated, and intangibles assets are not amortized ) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 164.93 741.40 Td (-sale. ) Tj ET Q
q 0 0 0 rg BT 190.99 741.40 Td (The assets and liabilities that are deemed held-for) Tj ET Q
q 0 0 0 rg BT 409.16 741.40 Td (-sale are classified as current ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (based on the anticipated disposal date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (The following table presents the major components included in assets held-for) Tj ET Q
q 0 0 0 rg BT 394.36 701.80 Td (-sale and liabilities associated with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (assets held-for) Tj ET Q
q 0 0 0 rg BT 113.62 688.60 Td (-sale which include Sports Illustrated; FanSided, a Sports Illustrated af) Tj ET Q
q 0 0 0 rg BT 424.41 688.60 Td (filiated brand that is being ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (marketed separately from Sports Illustrated; and ) Tj ET Q
q 0 0 0 rg BT 264.84 675.40 Td (V) Tj ET Q
q 0 0 0 rg BT 272.13 675.40 Td (iant ) Tj ET Q
q 0 0 0 rg BT 291.17 675.40 Td (T) Tj ET Q
q 0 0 0 rg BT 297.12 675.40 Td (echnology \(V) Tj ET Q
q 0 0 0 rg BT 356.64 675.40 Td (iant\), as of June�30, 2019. ) Tj ET Q
q 0 0 0 rg BT 472.84 675.40 Td (The balances as of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (June�30, 2018, include ) Tj ET Q
q 0 0 0 rg BT 151.84 662.20 Td (TIME, Fortune, Sports Illustrated \(including FanSided\), and ) Tj ET Q
q 0 0 0 rg BT 419.27 662.20 Td (V) Tj ET Q
q 0 0 0 rg BT 426.56 662.20 Td (iant:) 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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q 0 0 0 rg BT 407.32 503.80 Td (The results of ) Tj ET Q
q 0 0 0 rg BT 470.36 503.80 Td (TIME and Fortune ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 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 50.00 477.40 Td (Earnings until the date of sale. Meredith provided accounting, finance, human resources, information technology) Tj ET Q
q 0 0 0 rg BT 545.66 477.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (and other similar support services for a period of time under ) Tj ET Q
q 0 0 0 rg BT 317.08 464.20 Td (T) Tj ET Q
q 0 0 0 rg BT 323.42 464.20 Td (ransition Services ) Tj ET Q
q 0 0 0 rg BT 404.07 464.20 Td (Agreements \(TSA\) with each ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (buyer) Tj ET Q
q 0 0 0 rg BT 74.44 451.00 Td (. Both ) Tj ET Q
q 0 0 0 rg BT 103.88 451.00 Td (TSAs were completed during fiscal 2019. In addition, Meredith continues to provide consumer ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (marketing, subscription fulfillment, paper purchasing, printing, and other services under Outsourcing ) Tj ET Q
q 0 0 0 rg BT 496.92 437.80 Td (Agreements ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (\(OA\) with each buyer) Tj ET Q
q 0 0 0 rg BT 145.61 424.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 150.91 424.60 Td (The services performed under the OAs have varying terms ranging from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.94 424.60 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.44 424.60 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.49 424.60 Td (5 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 522.95 424.60 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (Revenue of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 103.15 411.40 Td ($4.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 156.93 411.40 Td ( was earned from performing services under the OAs and is recorded in other revenue in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (Consolidated Statements of Earnings for fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 284.63 398.20 Td (An ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 300.82 398.20 Td ($18.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 360.10 398.20 Td ( reduction of selling, general, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (administrative expenses was recorded for performing services under the ) Tj ET Q
q 0 0 0 rg BT 368.99 385.00 Td (TSAs in the Consolidated Statements of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (Earnings for fiscal 2019.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (In May 2019, the first step of a two-step transaction to sell Sports Illustrated was completed. ) Tj ET Q
q 0 0 0 rg BT 458.75 345.40 Td (At the time of first ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (close, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 78.10 332.20 Td ($90.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.38 332.20 Td ( was received from the buyer) Tj ET Q
q 0 0 0 rg BT 264.75 332.20 Td (. Simultaneously) Tj ET Q
q 0 0 0 rg BT 337.98 332.20 Td (, the Company entered into an agreement to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (license back a portion of the Sports Illustrated brand to continue operating the publishing business. ) Tj ET Q
q 0 0 0 rg BT 486.86 319.00 Td (Although, under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (the agreement certain assets of the brand were sold for legal and tax purposes, because the Company retains control ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (of the publishing business until the second close, the legal transfer of those assets has not been presented as a sale ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (within the consolidated financial statements. ) Tj ET Q
q 0 0 0 rg BT 247.95 279.40 Td (At the time of the second close, Meredith will owe the buyer ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 517.68 279.40 Td ($1) Tj ET Q
q 0 0 0 rg BT 528.27 279.40 Td (1.6 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 266.20 Td ( for accounts receivable and accounts payable retained by Meredith, and a working capital true-up estimated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (to be approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 140.72 253.00 Td ($1.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 194.50 253.00 Td ( \(subject to adjustment\). Based on the selling price of Sports Illustrated, an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (impairment of goodwill for the Sports Illustrated brand of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 306.92 239.80 Td ($8.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 360.70 239.80 Td ( was recognized during the fourth quarter of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 103.87 226.60 Td (The agreement for the sale of Sports Illustrated includes an earn-out provision whereby the buyer ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (would pay Meredith up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 167.01 213.40 Td ($20.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.29 213.40 Td ( should certain revenue tar) Tj ET Q
q 0 0 0 rg BT 342.76 213.40 Td (gets \(as defined in the agreement\) be achieved by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (the buyer by July�1, 2027. ) Tj ET Q
q 0 0 0 rg BT 166.71 200.20 Td (As receipt of such amounts is not deemed probable or estimable as of June�30, 2019, no ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (receivable amount has been recorded as of June�30, 2019. No significant additional gain or loss is expected upon ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (the second close, which is anticipated to occur in September 2019. Meredith expects to enter into a ) Tj ET Q
q 0 0 0 rg BT 487.53 173.80 Td (TSA) Tj ET Q
q 0 0 0 rg BT 507.70 173.80 Td ( with the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (buyer upon second close.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (Prior to the ) Tj ET Q
q 0 0 0 rg BT 101.64 134.20 Td (Acquisition, ) Tj ET Q
q 0 0 0 rg BT 158.27 134.20 Td (T) Tj ET Q
q 0 0 0 rg BT 164.60 134.20 Td (ime entered into an agreement to sell the Golf brand. ) Tj ET Q
q 0 0 0 rg BT 399.29 134.20 Td (This sale closed in February 2018. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 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 50.00 107.80 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 94.60 Td (Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.20 Td (In February 2018, the Company entered into an agreement to sell ) Tj ET Q
q 0 0 0 rg BT 339.38 68.20 Td (T) Tj ET Q
q 0 0 0 rg BT 345.72 68.20 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 55.00 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 55.00 Td (60) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.26 55.00 Td ( brands. ) Tj ET Q
q 0 0 0 rg BT 329.64 55.00 Td (The sale closed in March 2018. Revenue 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 (82) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (expenses from the date of acquisition until disposal along with associated taxes for ) Tj ET Q
q 0 0 0 rg BT 416.68 741.40 Td (TIUK were included in the loss ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 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 50.00 701.80 Td (In connection with the sale of ) Tj ET Q
q 0 0 0 rg BT 182.98 701.80 Td (TIUK, a liability of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.27 701.80 Td ($9.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 325.05 701.80 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 50.00 688.60 Td (lease guarantee by ) Tj ET Q
q 0 0 0 rg BT 133.78 688.60 Td (T) Tj ET Q
q 0 0 0 rg BT 140.12 688.60 Td (ime. ) Tj ET Q
q 0 0 0 rg BT 161.91 688.60 Td (The guarantee is related to a lease of of) Tj ET Q
q 0 0 0 rg BT 334.57 688.60 Td (fice space by ) Tj ET Q
q 0 0 0 rg BT 394.53 688.60 Td (TIUK in the U.K. through ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (December�31, 2025. ) Tj ET Q
q 0 0 0 rg BT 141.74 675.40 Td (The carrying value of the lease guarantee was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.75 675.40 Td ($8.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 399.53 675.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.92 675.40 Td ($8.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.70 675.40 Td ( at June�30, 2019 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (and 2018, respectively) Tj ET Q
q 0 0 0 rg BT 148.56 662.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 153.86 662.20 Td (The Company is only obligated to pay for the lease guarantee in the event that ) Tj ET Q
q 0 0 0 rg BT 500.36 662.20 Td (TIUK fails to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (perform under the lease agreement. If ) Tj ET Q
q 0 0 0 rg BT 218.08 649.00 Td (TIUK fails to perform under the lease agreement, the maximum lease ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (guarantee obligation for which the Company would be liable is approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 396.71 635.80 Td ($66.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 456.00 635.80 Td ( as of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.57 635.80 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.98 635.80 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (The Company has assessed that it is unlikely that ) Tj ET Q
q 0 0 0 rg BT 268.85 622.60 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 50.00 596.20 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 50.00 583.00 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 50.00 569.80 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 50.00 556.60 Td (has been or is expected to be repaid with the proceeds from the sale of ) Tj ET Q
q 0 0 0 rg BT 361.66 556.60 Td (TIME, Fortune, Sports Illustrated, FanSided, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (and ) Tj ET Q
q 0 0 0 rg BT 68.43 543.40 Td (V) Tj ET Q
q 0 0 0 rg BT 75.72 543.40 Td (iant.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (Amounts applicable to discontinued operations in the Consolidated Statements of Earnings are as follows:) Tj ET Q
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 485.18 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 485.18 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 441.00 485.18 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 521.00 485.18 Td (2018) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 469.95 Td (\(In millions except per shar) Tj ET Q
q 0 0 0 rg BT 151.15 469.95 Td (e data\)) 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 96.25 455.37 Td (.....................................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 424.00 455.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.55 455.37 Td (423.4) 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 140.25 440.37 Td (.....................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.85 440.37 Td (\(408.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.30 440.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 528.85 440.37 Td (\(242.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 440.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 425.37 Td (Impairment of goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.50 425.37 Td (..............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.85 425.37 Td (\(8.5) 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 123.75 410.37 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 /F2 11.00 Tf ET
q 0 0 0 rg BT 154.00 395.37 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 /F2 11.00 Tf ET
q 0 0 0 rg BT 165.00 380.37 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 /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 140.25 365.37 Td (.....................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 454.35 365.37 Td (\(69.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.30 365.37 Td (\)) 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 557.30 365.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 349.42 Td (Loss from discontinued operations, net of income taxes) 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 557.30 349.42 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 96.25 318.37 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 /F2 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 70.00 303.37 Td (Diluted) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 104.50 303.37 Td (..................................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 454.35 303.37 Td (\(1.82) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.30 303.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.35 303.37 Td (\(0.32) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 303.37 Td (\)) 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
q 0 0 0 rg BT 50.00 260.60 Td (years ended June�30, 2019 and 2018. Share-based compensation expense related to discontinued operations of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 537.22 260.60 Td ($0.5 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 247.40 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 247.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 103.16 247.40 Td ($3.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 156.94 247.40 Td ( is included in the calculation of net cash provided by operating activities in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 234.20 Td (Consolidated Statements of Cash Flows for June�30, 2019 and 2018, respectively) Tj ET Q
q 0 0 0 rg BT 406.43 234.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 207.80 Td (Dispositions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 181.40 Td (On July�1, 2017, Meredith's national media segment sold a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 311.05 181.40 Td (70 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 357.17 181.40 Td ( interest in Charleston ) Tj ET Q
q 0 0 0 rg BT 456.56 181.40 Td (T) Tj ET Q
q 0 0 0 rg BT 462.51 181.40 Td (ennis LLC, which ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 168.93 168.20 Td (T) Tj ET Q
q 0 0 0 rg BT 174.88 168.20 Td (ennis Center) Tj ET Q
q 0 0 0 rg BT 229.73 168.20 Td (, to an unrelated third party) Tj ET Q
q 0 0 0 rg BT 348.76 168.20 Td (. In return, Meredith received ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 481.00 168.20 Td ($0.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.78 168.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 155.00 Td (cash and a note receivable for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 183.76 155.00 Td ($8.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 237.54 155.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 242.84 155.00 Td (The note receivable was due in annual installments over a period of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 542.79 155.00 Td (8 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 141.80 Td (years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 73.21 141.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 78.10 141.80 Td (At June�30, 2018, there was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 203.36 141.80 Td ($3.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 257.14 141.80 Td ( in unamortized discount and an allowance of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.96 141.80 Td ($3.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.74 141.80 Td ( recorded ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 128.60 Td (against the note. ) Tj ET Q
q 0 0 0 rg BT 124.34 128.60 Td (This transaction generated a gain of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.38 128.60 Td ($3.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.16 128.60 Td (, which was recorded in acquisition, disposition, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 115.40 Td (and restructuring related activities in the Consolidated Statements of Earnings. Of this gain, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.98 115.40 Td ($1.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.77 115.40 Td ( related to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 102.20 Td (the remeasurement of the retained investment. ) Tj ET Q
q 0 0 0 rg BT 255.56 102.20 Td (As Meredith retained a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 359.41 102.20 Td (30 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 405.53 102.20 Td ( interest, had a seat on the board, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 89.00 Td (and had approval rights over certain limited matters, Meredith accounted for this investment under the equity ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 75.80 Td (method of accounting.) Tj ET Q
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BT /F2 10.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (In September 2018, Meredith sold its remaining ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 263.85 741.40 Td (30 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.97 741.40 Td ( interest in Charleston ) Tj ET Q
q 0 0 0 rg BT 409.36 741.40 Td (T) Tj ET Q
q 0 0 0 rg BT 415.31 741.40 Td (ennis LLC to an unrelated third ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (party) Tj ET Q
q 0 0 0 rg BT 71.89 728.20 Td (. In return, Meredith received cash of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 238.34 728.20 Td ($13.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 297.62 728.20 Td (, of which ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.67 728.20 Td ($5.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.45 728.20 Td ( was for the Company's remaining ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (30 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 96.12 715.00 Td ( interest and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 152.63 715.00 Td ($8.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.41 715.00 Td ( was repayment of the principal and interest accrued on the note receivable ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (recorded upon the Company's sale of its ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 228.86 701.80 Td (70 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 274.97 701.80 Td ( interest in July 2017. ) Tj ET Q
q 0 0 0 rg BT 372.54 701.80 Td (The Company recognized a gain on the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (sale of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.76 688.60 Td ($10.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 141.05 688.60 Td (, of which ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.09 688.60 Td ($4.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 241.87 688.60 Td ( represented a gain on the Company's ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.11 688.60 Td (30 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.23 688.60 Td ( interest and is recorded ) 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 440.78 596.20 Td (s operations and financial ) 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 275.56 583.00 Td ($1) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 334.44 583.00 Td ( on the sale, which is included as a credit in 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 225.07 556.60 Td ( loss of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 259.60 556.60 Td ($0.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.38 556.60 Td ( and a profit of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.49 556.60 Td ($1) Tj ET Q
q 0 0 0 rg BT 392.08 556.60 Td (1.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 440.37 556.60 Td ( were included in earnings ) 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 102.43 530.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
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BT /F2 11.00 Tf ET
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439.5 648.7 m
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3 M
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3 M
439.5 634.7 m
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3 M
307.5 634.7 m
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3 M
373.5 634.7 m
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117.5 605.7 m
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307.5 605.7 m
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369.5 605.7 m
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107.5 560.7 m
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3 M
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307.5 560.7 m
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3 M
307.5 545.7 m
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3 M
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3 M
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1.00 w
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3 M
439.5 560.7 m
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3 M
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3 M
435.5 515.7 m
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3 M
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369.5 470.7 m
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BT /F4 9.00 Tf ET
q 0 0 0 rg BT 120.00 696.15 Td (\(In millions\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 319.65 706.38 Td (National) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 324.35 696.38 Td (Media) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 392.05 706.38 Td (Local) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 390.35 696.38 Td (Media) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 460.05 696.38 Td (T) Tj ET Q
q 0 0 0 rg BT 465.80 696.38 Td (otal) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 110.00 681.60 Td (Balance at June�30, 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 666.57 Td (Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.75 666.57 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.00 666.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.55 666.57 Td (943.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.00 666.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.05 666.57 Td (80.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 442.00 666.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 666.57 Td (1,024.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 652.57 Td (Accumulated impairment losses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.50 652.57 Td (..............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.85 652.57 Td (\(1) Tj ET Q
q 0 0 0 rg BT 346.01 652.57 Td (16.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.30 652.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.30 652.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 470.85 652.57 Td (\(1) Tj ET Q
q 0 0 0 rg BT 480.01 652.57 Td (16.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.30 652.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.55 638.57 Td (826.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.05 638.57 Td (80.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.55 638.57 Td (907.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 110.00 624.57 Td (Acquisitions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 166.50 624.57 Td (..................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.25 624.57 Td (1,028.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.05 624.57 Td (35.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 624.57 Td (1,063.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 110.00 610.57 Td (Disposals ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
q 0 0 0 rg BT 155.53 615.56 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 161.00 610.57 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 342.35 610.57 Td (\(54.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.30 610.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.30 610.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.35 610.57 Td (\(54.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.30 610.57 Td (\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 110.00 595.60 Td (Balance at June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 580.57 Td (Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.75 580.57 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.25 580.57 Td (1,800.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.55 580.57 Td (1) Tj ET Q
q 0 0 0 rg BT 412.05 580.57 Td (15.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 580.57 Td (1,915.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 565.57 Td (Accumulated impairment losses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.50 565.57 Td (..............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 354.30 565.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.30 565.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.30 565.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.25 550.57 Td (1,800.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.55 550.57 Td (1) Tj ET Q
q 0 0 0 rg BT 412.05 550.57 Td (15.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 550.57 Td (1,915.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 110.00 535.57 Td (Acquisitions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 166.50 535.57 Td (..................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.05 535.57 Td (10.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 417.55 535.57 Td (0.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.05 535.57 Td (1) Tj ET Q
q 0 0 0 rg BT 485.55 535.57 Td (1.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 110.00 520.62 Td (Acquisition adjustments) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 218.75 520.57 Td (...............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.05 520.62 Td (52.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.30 520.62 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.05 520.62 Td (52.2) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 110.00 505.60 Td (Balance at June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 490.57 Td (Goodwill) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.75 490.57 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.25 490.57 Td (1,862.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.55 490.57 Td (1) Tj ET Q
q 0 0 0 rg BT 412.05 490.57 Td (16.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 490.57 Td (1,979.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 475.57 Td (Accumulated impairment losses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.50 475.57 Td (..............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 354.30 475.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.30 475.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.30 475.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.00 460.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.25 460.57 Td (1,862.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.00 460.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.55 460.57 Td (1) Tj ET Q
q 0 0 0 rg BT 412.05 460.57 Td (16.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 442.00 460.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.25 460.57 Td (1,979.4) Tj ET Q
BT /F4 5.85 Tf ET
q 0 0 0 rg BT 110.00 441.64 Td (1) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 120.00 439.15 Td (In connection with the sale of MXM, goodwill was r) Tj ET Q
q 0 0 0 rg BT 306.65 439.15 Td (educed by $171.8 million and accumulated) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 120.00 430.15 Td (impairment losses was r) Tj ET Q
q 0 0 0 rg BT 206.92 430.15 Td (educed by $1) Tj ET Q
q 0 0 0 rg BT 253.73 430.15 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 50.00 402.00 Td (During fiscal 2017, the Company�) Tj ET Q
q 0 0 0 rg BT 200.00 402.00 Td (s goodwill reporting units were national media magazine brands, MXM, and local ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 388.80 Td (media. Due to the sale of MXM and acquisition of ) Tj ET Q
q 0 0 0 rg BT 274.33 388.80 Td (T) Tj ET Q
q 0 0 0 rg BT 280.67 388.80 Td (ime in fiscal 2018, the Company�) Tj ET Q
q 0 0 0 rg BT 427.31 388.80 Td (s reporting units were national ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 375.60 Td (media, local media excluding MNI, and MNI. ) Tj ET Q
q 0 0 0 rg BT 254.47 375.60 Td (W) Tj ET Q
q 0 0 0 rg BT 264.41 375.60 Td (ith changes in the discrete financial information presented to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 362.40 Td (Chief Operating Decision Maker) Tj ET Q
q 0 0 0 rg BT 194.04 362.40 Td (, during fiscal 2019 the Company�) Tj ET Q
q 0 0 0 rg BT 344.35 362.40 Td (s reporting units were national media and local ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 349.20 Td (media. No reallocation of existing goodwill was required as a result of the change in reporting units as the goodwill ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 336.00 Td (attributable to MNI from the acquisition of ) Tj ET Q
q 0 0 0 rg BT 241.34 336.00 Td (T) Tj ET Q
q 0 0 0 rg BT 247.67 336.00 Td (ime is within our local media operating segment.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 309.60 Td (For ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.03 309.60 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.60 309.60 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.98 309.60 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.55 309.60 Td (, the Company performed its annual impairment review for the national media ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 296.40 Td (reporting unit as of May�31 using a quantitative goodwill impairment test. Based on the results of the analyses, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 283.20 Td (fair value exceeded the carrying value and thus resulted in no indication of impairment for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.44 283.20 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 499.01 283.20 Td ( or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.67 283.20 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 270.00 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 270.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 243.60 Td (For ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.03 243.60 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.60 243.60 Td (, the local media reporting unit performed qualitative assessment as of its measurement date of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 230.40 Td (May�31, 2019, which indicated no impairment. For ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 277.60 230.40 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.17 230.40 Td (, the local media reporting unit excluding MNI and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 217.20 Td (the MNI reporting unit performed qualitative assessments that did not indicate impairment for either reporting unit. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 204.00 Td (W) Tj ET Q
q 0 0 0 rg BT 59.94 204.00 Td (ith no indications of impairment, quantitative goodwill impairment analyses for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.79 204.00 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.36 204.00 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 482.74 204.00 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.31 204.00 Td ( were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 190.80 Td (not deemed necessary) Tj ET Q
q 0 0 0 rg BT 145.80 190.80 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 164.40 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 50.00 151.20 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 252.84 151.20 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 274.84 151.20 Td (. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 280.34 151.20 Td (No) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.78 151.20 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 50.00 111.60 Td (6. Restructuring ) Tj ET Q
q 0 0 0 rg BT 131.88 111.60 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 85.20 Td (During fiscal 2019, management committed to several performance improvement plans related primarily to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 72.00 Td (business realignments, including continuing those related to the integration of ) Tj ET Q
q 0 0 0 rg BT 394.70 72.00 Td (T) Tj ET Q
q 0 0 0 rg BT 401.03 72.00 Td (ime that began in fiscal 2018. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 58.80 Td (Improvement plans that were made and executed upon during fiscal 2019 related to the strategic decision to mer) Tj ET Q
q 0 0 0 rg BT 543.72 58.80 Td (ge ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 50.00 45.60 Td (Cooking Light) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 113.26 45.60 Td ( magazine with ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 183.20 45.60 Td (EatingW) Tj ET Q
q 0 0 0 rg BT 220.69 45.60 Td (ell) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.68 45.60 Td (, transition ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 281.48 45.60 Td (Coastal Living) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.58 45.60 Td ( from a subscription magazine to a special ) Tj ET Q
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BT /F2 10.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (interest publication, to change ) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 185.32 741.40 Td (Entertainment W) Tj ET Q
q 0 0 0 rg BT 259.16 741.40 Td (eekly) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 281.74 741.40 Td ( from a weekly to a monthly publication, to consolidate much ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (of the local media's digital advertising functions with MNI ) Tj ET Q
q 0 0 0 rg BT 310.54 728.20 Td (T) Tj ET Q
q 0 0 0 rg BT 316.49 728.20 Td (ar) Tj ET Q
q 0 0 0 rg BT 324.83 728.20 Td (geted Media, and to outsource newsstand sales and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (marketing operations. During fiscal 2019, the Company also incurred restructuring costs related to the consolidation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (of of) Tj ET Q
q 0 0 0 rg BT 70.88 701.80 Td (fice space including closing the ) Tj ET Q
q 0 0 0 rg BT 212.10 701.80 Td (T) Tj ET Q
q 0 0 0 rg BT 218.44 701.80 Td (ime Customer Service facility in ) Tj ET Q
q 0 0 0 rg BT 363.95 701.80 Td (T) Tj ET Q
q 0 0 0 rg BT 369.90 701.80 Td (ampa, Florida and other of) Tj ET Q
q 0 0 0 rg BT 486.70 701.80 Td (fice locations in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (Brooklyn, New ) Tj ET Q
q 0 0 0 rg BT 120.17 688.60 Td (Y) Tj ET Q
q 0 0 0 rg BT 127.01 688.60 Td (ork and Birmingham, ) Tj ET Q
q 0 0 0 rg BT 223.56 688.60 Td (Alabama. ) Tj ET Q
q 0 0 0 rg BT 268.56 688.60 Td (The fiscal 2019 performance improvement plans af) Tj ET Q
q 0 0 0 rg BT 493.78 688.60 Td (fected ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.28 675.40 Td (300) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 132.78 675.40 Td ( people, approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 236.64 675.40 Td (225) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 253.14 675.40 Td ( in the national media segment, approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.64 675.40 Td (25) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 470.64 675.40 Td ( in the local media ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (segment, and the remainder in unallocated corporate. In connection with these plans, the Company recorded a pre-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (tax restructuring char) Tj ET Q
q 0 0 0 rg BT 143.87 649.00 Td (ge of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.92 649.00 Td ($56.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 228.20 649.00 Td ( for severance and related benefit costs related to the involuntary ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (termination of employees and other write-downs of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 278.80 635.80 Td ($31.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.08 635.80 Td (, mainly related to the closing of of) Tj ET Q
q 0 0 0 rg BT 492.45 635.80 Td (fice locations ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (in ) Tj ET Q
q 0 0 0 rg BT 61.11 622.60 Td (T) Tj ET Q
q 0 0 0 rg BT 67.06 622.60 Td (ampa, Brooklyn, and Birmingham, which are recorded in the acquisition, disposition, and restructuring related ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (activities line of the Consolidated Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 307.94 609.40 Td (The majority of the severance costs are expected to be ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (paid out over a 12-month period.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 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
q 0 0 0 rg BT 50.00 556.60 Td (follows:) Tj ET Q
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q 0 0 0 rg BT 453.86 520.63 Td (Amount) Tj ET Q
BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 122.11 497.58 Td (ears ended June�30,) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F4 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
q 0 0 0 rg BT 465.78 414.65 Td ($35.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.06 414.65 Td ( of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 401.45 Td (borrowings outstanding under the revolving credit facility) Tj ET Q
q 0 0 0 rg BT 304.06 401.45 Td (. In addition, there were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.88 401.45 Td ($3.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 465.66 401.45 Td ( of standby letters of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 388.25 Td (credit issued under the revolving credit facility resulting in availability of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 375.32 388.25 Td ($31) Tj ET Q
q 0 0 0 rg BT 391.41 388.25 Td (1.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.69 388.25 Td ( at June�30, 2019. ) Tj ET Q
q 0 0 0 rg BT 519.85 388.25 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 375.05 Td (T) Tj ET Q
q 0 0 0 rg BT 55.95 375.05 Td (erm Loan�B matures in 2025 and originally amortized at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 306.44 375.05 Td (1.0 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 355.30 375.05 Td ( per annum in equal quarterly installments ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 361.85 Td (until the final maturity date, at which time the remaining principal and interest are due and payable. However) Tj ET Q
q 0 0 0 rg BT 530.64 361.85 Td (, as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 348.65 Td ($200.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 114.78 348.65 Td ( was paid on the ) Tj ET Q
q 0 0 0 rg BT 188.82 348.65 Td (T) Tj ET Q
q 0 0 0 rg BT 194.77 348.65 Td (erm Loan�B in the first quarter of fiscal 2019, there are no future amortization ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 335.45 Td (requirements under the credit agreement.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 309.05 Td (The senior unsecured notes had an aggregate original principal balance of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 377.12 309.05 Td ($1.4 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.84 309.05 Td ( maturing in 2026 \(2026 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 295.85 Td (Senior Notes\) with an interest rate of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 215.26 295.85 Td (6.875 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 275.12 295.85 Td ( per annum. ) Tj ET Q
q 0 0 0 rg BT 329.91 295.85 Td (T) Tj ET Q
q 0 0 0 rg BT 335.86 295.85 Td (otal outstanding principal is due at the final ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 282.65 Td (maturity date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 256.25 Td (Principal payments on debt due in the succeeding fiscal years include ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 358.21 256.25 Td ($35.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 417.49 256.25 Td ( due in fiscal 2023, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 504.25 256.25 Td ($1.1 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 554.97 256.25 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 243.05 Td (due in fiscal 2025, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 152.64 243.05 Td ($1.3 billion) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 203.37 243.05 Td ( due in fiscal 2026.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 216.65 Td (The original interest rate under the ) Tj ET Q
q 0 0 0 rg BT 204.96 216.65 Td (T) Tj ET Q
q 0 0 0 rg BT 210.91 216.65 Td (erm Loan�B was based on the London Interbank Of) Tj ET Q
q 0 0 0 rg BT 437.07 216.65 Td (fered Rate \(LIBOR\) plus a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 203.45 Td (spread of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 93.37 203.45 Td (3.0 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.24 203.45 Td (. ) Tj ET Q
q 0 0 0 rg BT 147.54 203.45 Td (The Company repriced the ) Tj ET Q
q 0 0 0 rg BT 267.69 203.45 Td (T) Tj ET Q
q 0 0 0 rg BT 273.64 203.45 Td (erm Loan�B ef) Tj ET Q
q 0 0 0 rg BT 337.27 203.45 Td (fective October�26, 2018. ) Tj ET Q
q 0 0 0 rg BT 451.92 203.45 Td (The new interest rate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 190.25 Td (under the ) Tj ET Q
q 0 0 0 rg BT 93.79 190.25 Td (T) Tj ET Q
q 0 0 0 rg BT 99.74 190.25 Td (erm Loan�B is based on LIBOR plus a spread of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.50 190.25 Td (2.75 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.87 190.25 Td ( as of the repricing date until maturity or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 177.05 Td (when the Company's leverage ratio drops below ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 264.29 177.05 Td (2.25) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 283.54 177.05 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 297.59 177.05 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.09 177.05 Td (, at which time the spread will decrease to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 490.63 177.05 Td (2.5 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.50 177.05 Td (. ) Tj ET Q
q 0 0 0 rg BT 544.80 177.05 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 163.85 Td (revolving credit facility bears interest at LIBOR plus a spread ranging from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.79 163.85 Td (2.5 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.65 163.85 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.71 163.85 Td (3.0 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.57 163.85 Td (. ) Tj ET Q
q 0 0 0 rg BT 501.88 163.85 Td (The ) Tj ET Q
q 0 0 0 rg BT 521.53 163.85 Td (T) Tj ET Q
q 0 0 0 rg BT 527.48 163.85 Td (erm ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 150.60 Td (Loan�B bore interest at a rate of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 192.33 150.60 Td (5.15 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 246.69 150.60 Td ( at June�30, 2019. ) Tj ET Q
q 0 0 0 rg BT 326.85 150.60 Td (The revolving credit facility has a commitment fee ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 137.40 Td (ranging from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 110.48 137.40 Td (0.375 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.35 137.40 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 184.41 137.40 Td (0.500 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 244.27 137.40 Td ( of the unused commitment. ) Tj ET Q
q 0 0 0 rg BT 369.53 137.40 Td (All interest rates and commitment fees ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 124.20 Td (associated with this variable-rate revolving credit facility are derived from a leverage-based pricing grid.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 97.80 Td (The accounting for the repricing of the ) Tj ET Q
q 0 0 0 rg BT 222.98 97.80 Td (T) Tj ET Q
q 0 0 0 rg BT 228.93 97.80 Td (erm Loan�B was evaluated on a creditor) Tj ET Q
q 0 0 0 rg BT 404.34 97.80 Td (-by-creditor basis to determine ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 84.60 Td (whether the transaction should be accounted for as a modification or extinguishment. Certain creditors chose not to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 71.40 Td (participate in the repricing and ceased being creditors of the Company) Tj ET Q
q 0 0 0 rg BT 358.39 71.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 363.29 71.40 Td (As a result of these extinguishments, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 58.20 Td (Company recorded a debt extinguishment loss of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 268.43 58.20 Td ($2.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.21 58.20 Td ( in the second quarter of fiscal 2019 to write of) Tj ET Q
q 0 0 0 rg BT 528.50 58.20 Td (f the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 45.00 Td (pro-rata amount of unamortized debt discount and deferred issuance costs related to these creditors. For the ) 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 (89) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (remainder of the creditors, this transaction was accounted for as a modification because on a creditor) Tj ET Q
q 0 0 0 rg BT 493.27 741.40 Td (-by-creditor ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (basis, the dif) Tj ET Q
q 0 0 0 rg BT 105.71 728.20 Td (ference between the present value of the cash flows to those creditors before and after the repricing was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (less than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 90.94 715.00 Td (10 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.05 715.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (Payments totaling ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 131.88 688.60 Td ($733.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.66 688.60 Td ( were made on the ) Tj ET Q
q 0 0 0 rg BT 279.85 688.60 Td (T) Tj ET Q
q 0 0 0 rg BT 285.80 688.60 Td (erm Loan�B during fiscal 2019. In addition to the ) Tj ET Q
q 0 0 0 rg BT 504.64 688.60 Td (T) Tj ET Q
q 0 0 0 rg BT 510.59 688.60 Td (erm ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (Loan�B repayments, the Company repurchased ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 259.24 675.40 Td ($127.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 324.02 675.40 Td ( of its 2026 Senior Notes. ) Tj ET Q
q 0 0 0 rg BT 439.01 675.40 Td (These payments were all ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (made in advance of scheduled maturities and thus were considered extinguishments of the debt. ) Tj ET Q
q 0 0 0 rg BT 473.48 662.20 Td (Therefore, as a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (result of these prepayments, extinguishment losses of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 287.68 649.00 Td ($18.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.96 649.00 Td ( were recognized during fiscal 2019. ) Tj ET Q
q 0 0 0 rg BT 510.17 649.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (extinguishment loss included a premium paid on the repurchase of the 2026 Senior Notes of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.83 635.80 Td ($1.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.61 635.80 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (Of the total debt extinguishment loss of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.89 609.40 Td ($18.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 286.17 609.40 Td ( incurred during fiscal 2019, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.86 609.40 Td ($10.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 473.14 609.40 Td ( was recorded in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (interest expense, net and the remaining ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 224.41 596.20 Td ($7.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 278.19 596.20 Td ( was recorded in loss from discontinued operations, net of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (income taxes in the Consolidated Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 306.11 583.00 Td (The portion of the extinguishment loss that was recorded ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (in the loss from discontinued operations, net of income taxes line was related to debt repaid with the proceeds from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (the sale of assets held-for) Tj ET Q
q 0 0 0 rg BT 161.57 556.60 Td (-sale. Refer to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.32 556.60 Td (Note�4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.95 556.60 Td ( for further discussion.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.20 Td (In fiscal 2018, the Company incurred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 217.09 530.20 Td ($14.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 276.38 530.20 Td ( of deferred financing costs and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 418.10 530.20 Td ($56.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 477.38 530.20 Td ( of discount costs ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (that are being amortized into interest expense over the lives of the respective facilities. ) Tj ET Q
q 0 0 0 rg BT 433.13 517.00 Td (The Company also incurred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 57.63 503.80 Td ($17.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.91 503.80 Td ( bridge loan commitment fee. ) Tj ET Q
q 0 0 0 rg BT 249.28 503.80 Td (The fee is presented in the interest expense, net line in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (Consolidated Statements of Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (Interest expense related to long-term debt and the amortization of the associated debt issuance costs totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.06 464.20 Td ($196.1 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 451.00 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.41 451.00 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.41 451.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 149.91 451.00 Td ($92.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 209.19 451.00 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.82 451.00 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.82 451.00 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.95 451.00 Td ($18.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 355.23 451.00 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.86 451.00 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 417.86 451.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 422.75 451.00 Td (As further discussed in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.62 451.00 Td (Note�4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 556.25 451.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (a portion of interest expense and amortization of debt issuance costs related to long-term debt is recorded in the loss ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (from discontinued operations, net of income taxes line in the Consolidated Statements of Earnings.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (8. Income ) Tj ET Q
q 0 0 0 rg BT 101.13 385.00 Td (T) Tj ET Q
q 0 0 0 rg BT 107.45 385.00 Td (axes) 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 (Income taxes are recognized for the amount of taxes payable for the current year and for the impact of deferred tax ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (assets and liabilities, which represent future tax consequences of events that have been recognized dif) Tj ET Q
q 0 0 0 rg BT 496.66 345.40 Td (ferently in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (financial statements than for tax purposes. Deferred tax assets and liabilities are established using the enacted ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (statutory tax rates and are adjusted for any changes in such rates in the period of change.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (On December�22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (T) Tj ET Q
q 0 0 0 rg BT 55.95 279.40 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 104.83 279.40 Td (Act. ) Tj ET Q
q 0 0 0 rg BT 126.01 279.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 145.66 279.40 Td (T) Tj ET Q
q 0 0 0 rg BT 151.62 279.40 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 200.49 279.40 Td (Act made broad and complex changes to the U.S. tax code that af) Tj ET Q
q 0 0 0 rg BT 488.03 279.40 Td (fected our fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (year ended June�30, 2018, including, but not limited to, \(1\) reducing the U.S. federal corporate tax rate, \(2\) bonus ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (depreciation that allows for full expensing of qualified property and \(3\) limitations on the deductibility of interest ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (expense and certain executive compensation and \(4\) a one-time transition tax on certain unrepatriated earnings of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (foreign subsidiaries. ) Tj ET Q
q 0 0 0 rg BT 141.75 226.60 Td (The ) Tj ET Q
q 0 0 0 rg BT 161.41 226.60 Td (T) Tj ET Q
q 0 0 0 rg BT 167.36 226.60 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 216.24 226.60 Td (Act reduced the federal corporate tax rate to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 412.90 226.60 Td (21 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.02 226.60 Td ( in the fiscal year ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (ended June�30, 2018. ) Tj ET Q
q 0 0 0 rg BT 145.32 213.40 Td (As the Company has a June 30 fiscal year) Tj ET Q
q 0 0 0 rg BT 329.00 213.40 Td (-end, the lower corporate income tax rate was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (phased in. Pursuant to Section�15 of the Internal Revenue Code, the Company applied a blended corporate tax rate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 61.91 187.00 Td (28.1 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.28 187.00 Td ( for fiscal 2018, which was based on the applicable tax rates before and after the ) Tj ET Q
q 0 0 0 rg BT 471.91 187.00 Td (T) Tj ET Q
q 0 0 0 rg BT 477.86 187.00 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 526.74 187.00 Td (Act and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (the number of days in the year) Tj ET Q
q 0 0 0 rg BT 183.35 173.80 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 207.48 173.80 Td (21 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 253.60 173.80 Td ( for subsequent fiscal years.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.40 Td (In connection with our initial analysis of the impact of the ) Tj ET Q
q 0 0 0 rg BT 307.93 147.40 Td (T) Tj ET Q
q 0 0 0 rg BT 313.88 147.40 Td (ax Reform ) Tj ET Q
q 0 0 0 rg BT 362.76 147.40 Td (Act, we recorded a provisional net tax ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (benefit of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.20 134.20 Td ($133.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.98 134.20 Td ( for the year ended June�30, 2018. ) Tj ET Q
q 0 0 0 rg BT 311.91 134.20 Td (This net benefit primarily consists of a benefit for the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (corporate rate reduction. ) Tj ET Q
q 0 0 0 rg BT 159.95 121.00 Td (As the Company was projecting a net operating loss for the fiscal year ended June�30, ) 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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420.50 395.30 50.00 -15.00 re f
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q 0 0 0 rg BT 112.22 694.55 Td (ears ended June�30,) Tj ET Q
BT /F1 11.00 Tf ET
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BT /F1 11.00 Tf ET
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BT /F4 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
q 0 0 0 rg BT 105.50 650.37 Td (Increase in positions acquired in business combination) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.50 650.37 Td (............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 650.37 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 /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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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
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 428.25 529.60 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
q 0 0 0 rg BT 169.77 516.40 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
q 0 0 0 rg BT 279.76 516.40 Td (June�30, 2018) Tj ET Q
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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q 0 0 0 rg BT 384.87 503.20 Td (The amount of accrued interest 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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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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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
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.26 450.40 Td (June�30, 2019) Tj ET Q
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
q 0 0 0 rg BT 50.00 437.20 Td (months, decreasing by an estimated range 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 307.83 437.20 Td ( to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 321.88 437.20 Td ($4.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 375.67 437.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 380.97 437.20 Td (The change, if any) Tj ET Q
q 0 0 0 rg BT 462.10 437.20 Td (, may result primarily ) 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 293.29 358.00 Td (T) Tj ET Q
q 0 0 0 rg BT 299.62 358.00 Td (ime is under IRS examination for the period 2008 - 2014 ) 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 285.01 305.20 Td (W) Tj ET Q
q 0 0 0 rg BT 294.51 305.20 Td (arner Inc.�) Tj ET Q
q 0 0 0 rg BT 339.71 305.20 Td (s \(T) Tj ET Q
q 0 0 0 rg BT 356.73 305.20 Td (ime ) Tj ET Q
q 0 0 0 rg BT 375.78 305.20 Td (W) Tj ET Q
q 0 0 0 rg BT 385.28 305.20 Td (arner\) magazine publishing and related ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 148.84 292.00 Td (arner \(the Spin-Of) Tj ET Q
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q 0 0 0 rg BT 458.09 292.00 Td (ime Inc. shares held by ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 84.88 278.80 Td (arner to its stockholders as of May�23, 2014, based on a distribution ratio of one share of ) Tj ET Q
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q 0 0 0 rg BT 483.87 278.80 Td (ime Inc. common ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 191.75 265.60 Td (ime ) Tj ET Q
q 0 0 0 rg BT 210.80 265.60 Td (W) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 119.07 252.40 Td (ime, the Company assumed the ) Tj ET Q
q 0 0 0 rg BT 259.40 252.40 Td (T) Tj ET Q
q 0 0 0 rg BT 265.35 252.40 Td (ax Matters ) Tj ET Q
q 0 0 0 rg BT 314.23 252.40 Td (Agreement \(TMA\) entered into with ) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 94.31 239.20 Td (ime to indemnify ) Tj ET Q
q 0 0 0 rg BT 172.63 239.20 Td (T) Tj ET Q
q 0 0 0 rg BT 178.96 239.20 Td (ime ) Tj ET Q
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q 0 0 0 rg BT 515.23 239.20 Td (ime ) 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 348.72 212.80 Td (ime ) Tj ET Q
q 0 0 0 rg BT 367.77 212.80 Td (W) Tj ET Q
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q 0 0 0 rg BT 495.80 212.80 Td (ime and its ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 376.57 199.60 Td (ime ) Tj ET Q
q 0 0 0 rg BT 395.62 199.60 Td (W) Tj ET Q
q 0 0 0 rg BT 405.12 199.60 Td (arner group for periods prior to 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
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q 0 0 0 rg BT 196.96 146.80 Td (ime�) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 261.26 133.60 Td (arner group is greater than it would have been absent ) Tj ET Q
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q 0 0 0 rg BT 503.19 133.60 Td (ime�) Tj ET Q
q 0 0 0 rg BT 522.74 133.60 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 341.15 120.40 Td (ime and ) Tj ET Q
q 0 0 0 rg BT 378.82 120.40 Td (T) Tj ET Q
q 0 0 0 rg BT 385.16 120.40 Td (ime ) Tj ET Q
q 0 0 0 rg BT 404.20 120.40 Td (W) Tj ET Q
q 0 0 0 rg BT 413.70 120.40 Td (arner will generally have joint ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 342.73 107.20 Td (T) Tj ET Q
q 0 0 0 rg BT 349.06 107.20 Td (ime specific tax matters. ) Tj ET Q
q 0 0 0 rg BT 458.72 107.20 Td (As of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 485.61 107.20 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 547.02 107.20 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 68.63 94.00 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 385.53 94.00 Td ( 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
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 540.14 94.00 Td (, ) Tj ET Q
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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q 0 0 0 rg BT 97.46 702.00 Td (These firm commitments secure the future rights to various assets and services to be used in the normal ) 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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218.50 551.50 48.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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266.50 551.50 48.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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314.50 551.50 48.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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362.50 551.50 48.00 -15.00 re f
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410.50 551.50 48.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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458.50 551.50 55.00 -15.00 re f
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513.50 551.50 48.00 -15.00 re f
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49.50 521.50 169.00 -15.00 re f
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218.50 521.50 48.00 -15.00 re f
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513.50 521.50 48.00 -15.00 re f
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3 M
49.5 625.5 m
218.5 625.5 l
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218.5 625.5 m
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314.5 625.5 m
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513.5 596.5 m
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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 58.11 601.18 Td (ears ending 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 290.25 601.18 Td (2021) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 338.25 601.18 Td (2022) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 386.25 601.18 Td (2023) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 434.25 601.18 Td (2024) 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 /F4 9.00 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 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 ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.00 571.37 Td (61.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 291.00 571.37 Td (57.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 339.00 571.37 Td (54.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.00 571.37 Td (52.4) 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 461.00 571.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 571.37 Td (676.6) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 171.00 541.37 Td (................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 248.50 541.37 Td (6.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 296.50 541.37 Td (3.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.50 541.37 Td (2.8) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 498.30 541.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 541.37 Td (15) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 146.25 526.37 Td (.........................) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.00 511.37 Td (79.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 291.00 511.37 Td (64.1) 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 339.00 511.37 Td (57.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.00 511.37 Td (54.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.00 511.37 Td (53.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.50 511.37 Td (397.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 516.00 511.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 511.37 Td (705.9) 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
q 0 0 0 rg BT 137.05 454.20 Td ($7.7 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 258.96 454.20 Td ($8.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.74 454.20 Td ( in fiscal 2021, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.87 454.20 Td ($9.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.65 454.20 Td ( in fiscal 2022, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.78 454.20 Td ($9.1 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 2023, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 115.38 441.00 Td ($9.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 169.16 441.00 Td ( in fiscal 2024 and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 253.17 441.00 Td ($24.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.45 441.00 Td ( thereafter) Tj ET Q
q 0 0 0 rg BT 356.72 441.00 Td (. Non-cancellable sublease income is ) 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 325.55 427.80 Td ($67.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.83 427.80 Td ( in) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
396.13 435.43 29.32 -10.00 re f
/GS0 gs
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BT /F2 11.00 Tf ET
1 1 1 rg
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425.46 435.43 22.00 -10.00 re f
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1 1 1 rg
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447.46 435.43 5.50 -10.00 re f
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q 0 0 0 rg BT 447.46 427.80 Td (, ) Tj ET Q
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1 1 1 rg
/GS0 gs
452.96 435.43 59.28 -10.00 re f
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1 1 1 rg
/GS0 gs
512.24 435.43 40.63 -10.00 re f
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BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 422.23 22.00 -10.00 re f
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1 1 1 rg
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72.00 422.23 24.13 -10.00 re f
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BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
96.13 422.23 59.28 -10.00 re f
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1 1 1 rg
/GS0 gs
155.41 422.23 40.63 -10.00 re f
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q 0 0 0 rg BT 155.41 414.60 Td ( in fiscal ) Tj ET Q
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1 1 1 rg
/GS0 gs
196.04 422.23 22.00 -10.00 re f
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q 0 0 0 rg BT 196.04 414.60 Td (2017) 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
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q 0 0 0 rg BT 218.04 414.60 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 457.28 388.20 Td (The Company also is ) 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
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
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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 ($14.3 million) Tj ET Q
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1 1 1 rg
/GS0 gs
492.35 369.43 13.44 -10.00 re f
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q 0 0 0 rg BT 492.35 361.80 Td ( at ) Tj ET Q
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1 1 1 rg
/GS0 gs
505.79 369.43 39.41 -10.00 re f
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1 1 1 rg
/GS0 gs
50.00 356.23 22.00 -10.00 re f
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 348.60 Td (. ) Tj ET Q
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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
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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 ($13.6 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
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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
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q 0 0 0 rg BT 455.68 335.40 Td (June�30, 2019) 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 (Lease Guarantees) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 282.60 Td (In March 2018, the Company sold ) Tj ET Q
q 0 0 0 rg BT 203.47 282.60 Td (TIUK, a U.K. multi-platform publisher) Tj ET Q
q 0 0 0 rg BT 374.86 282.60 Td (. In connection with the sale of ) Tj ET Q
q 0 0 0 rg BT 513.34 282.60 Td (TIUK, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 269.40 Td (Company recognized a liability in other noncurrent liabilities in connection with a lease of of) Tj ET Q
q 0 0 0 rg BT 459.73 269.40 Td (fice space in the U.K. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 256.20 Td (through December�31, 2025, which is guaranteed by the Company) Tj ET Q
q 0 0 0 rg BT 341.63 256.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 346.93 256.20 Td (The lease guarantee liability is being amortized ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 243.00 Td (into earnings over the life of the lease. ) Tj ET Q
q 0 0 0 rg BT 221.16 243.00 Td (The carrying value of the lease guarantee was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.17 243.00 Td ($8.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.95 243.00 Td ( at June�30, 2019. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 229.80 Td (The Company is only obligated to pay for the lease guarantee in the event that ) Tj ET Q
q 0 0 0 rg BT 396.50 229.80 Td (TIUK fails to perform under the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 216.60 Td (lease agreement. If ) Tj ET Q
q 0 0 0 rg BT 135.92 216.60 Td (TIUK fails to perform under the lease agreement, the maximum lease guarantee obligation for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 203.40 Td (which the Company would be liable is approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 288.28 203.40 Td ($66.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.56 203.40 Td ( as of June�30, 2019. ) Tj ET Q
q 0 0 0 rg BT 440.85 203.40 Td (The Company has assessed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 190.20 Td (that it is unlikely that ) Tj ET Q
q 0 0 0 rg BT 146.04 190.20 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 50.00 163.80 Td (The Company guarantees two other leases of entities previously sold, one through January 2023 and another ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 150.60 Td (through November 2030. ) Tj ET Q
q 0 0 0 rg BT 163.45 150.60 Td (The carrying value of those guarantees, which are recorded in other noncurrent liabilities ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 137.40 Td (on the Consolidated Balance Sheets, was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 232.99 137.40 Td ($2.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 286.77 137.40 Td ( at June�30, 2019, and the maximum obligation for which the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 124.20 Td (Company would be liable if the primary obligors fail to perform under the lease agreements is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 466.66 124.20 Td ($15.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.94 124.20 Td ( as of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 111.00 Td (June�30, 2019.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 84.60 Td (Legal Pr) Tj ET Q
q 0 0 0 rg BT 90.43 84.60 Td (oceedings) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 58.20 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 45.00 Td (proceedings. ) Tj ET Q
q 0 0 0 rg BT 108.45 45.00 Td (These claims, actions and proceedings are at varying stages of investigation, arbitration, or ) 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 (adjudication, and involve a variety of areas of law) Tj ET Q
q 0 0 0 rg BT 269.51 741.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 274.81 741.40 Td (T) Tj ET Q
q 0 0 0 rg BT 281.14 741.40 Td (ime Inc. \(now known as ) Tj ET Q
q 0 0 0 rg BT 389.69 741.40 Td (TI Gotham Inc.\), which is now a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (wholly-owned subsidiary) Tj ET Q
q 0 0 0 rg BT 160.80 728.20 Td (, previously reported on, and the Company updates below) Tj ET Q
q 0 0 0 rg BT 414.25 728.20 Td (, the following legal proceedings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (On October�26, 2010, the Canadian Minister of National Revenue denied the claims by ) Tj ET Q
q 0 0 0 rg BT 435.92 701.80 Td (T) Tj ET Q
q 0 0 0 rg BT 442.26 701.80 Td (ime Inc. Retail \(formerly ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (T) Tj ET Q
q 0 0 0 rg BT 56.33 688.60 Td (ime/W) Tj ET Q
q 0 0 0 rg BT 85.38 688.60 Td (arner Retail Sales & Marketing, Inc.\) \(TIR\) 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 50.00 675.40 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 50.00 662.20 Td (2008, on the basis that ) Tj ET Q
q 0 0 0 rg BT 151.23 662.20 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 50.00 649.00 Td (approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.28 649.00 Td (C$52 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 174.65 649.00 Td (. On January�21, 201) Tj ET Q
q 0 0 0 rg BT 265.90 649.00 Td (1, ) Tj ET Q
q 0 0 0 rg BT 276.70 649.00 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 50.00 635.80 Td (Chief of ) Tj ET Q
q 0 0 0 rg BT 88.49 635.80 Td (Appeals of the Canada Revenue ) Tj ET Q
q 0 0 0 rg BT 231.75 635.80 Td (Agency \(CRA\), ar) Tj ET Q
q 0 0 0 rg BT 312.50 635.80 Td (guing that ) Tj ET Q
q 0 0 0 rg BT 359.35 635.80 Td (TIR claimed input tax credits only in respect ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (of goods and services tax it actually paid and it is entitled to a rebate for such payments. On September�13, 2013, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (TIR received Notices of Reassessment in the amount of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 297.74 609.40 Td (C$26.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.35 609.40 Td ( relating to the same type of situation during ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (the years 2009 to 2010, and ) Tj ET Q
q 0 0 0 rg BT 174.14 596.20 Td (TIR filed similar objections as for prior years. By letter dated June 19, 2015 the CRA) Tj ET Q
q 0 0 0 rg BT 548.97 596.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (requested payment of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 147.44 583.00 Td (C$89.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 214.05 583.00 Td (, which includes interest accrued and stated that failure to pay may result in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (legal action. ) Tj ET Q
q 0 0 0 rg BT 106.31 569.80 Td (TIR responded by stating that collection should remain stayed pending resolution of the issues raised ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (by ) Tj ET Q
q 0 0 0 rg BT 63.55 556.60 Td (TIR�) Tj ET Q
q 0 0 0 rg BT 84.33 556.60 Td (s objection. Including interest accrued, the total of the reassessments claimed by the CRA) Tj ET Q
q 0 0 0 rg BT 478.08 556.60 Td ( for the years 2006 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (to 2010 was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 105.91 543.40 Td (C$91 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 164.28 543.40 Td ( as of November�30, 2015. ) Tj ET Q
q 0 0 0 rg BT 283.84 543.40 Td (The parties are engaged in mediation.) 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 /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.20 Td (On September�6, 2019, a shareholder filed a putative class action lawsuit in the U.S. District Court for the Southern ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (District of New ) Tj ET Q
q 0 0 0 rg BT 120.77 385.00 Td (Y) Tj ET Q
q 0 0 0 rg BT 127.61 385.00 Td (ork against the Company) Tj ET Q
q 0 0 0 rg BT 237.18 385.00 Td (, its Chief Executive Of) Tj ET Q
q 0 0 0 rg BT 341.15 385.00 Td (ficer) Tj ET Q
q 0 0 0 rg BT 360.86 385.00 Td (, and its Chief Financial Of) Tj ET Q
q 0 0 0 rg BT 480.41 385.00 Td (ficer) Tj ET Q
q 0 0 0 rg BT 500.12 385.00 Td (, seeking to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (represent a class of shareholders who acquired securities of the Company between May�10, 2018 and September�4, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (2019. On September 12, 2019, a shareholder filed a putative class action lawsuit in the U.S. District Court for the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (Southern District of Iowa against the Company) Tj ET Q
q 0 0 0 rg BT 257.02 345.40 Td (, its Chief Executive Of) Tj ET Q
q 0 0 0 rg BT 360.99 345.40 Td (ficer) Tj ET Q
q 0 0 0 rg BT 380.70 345.40 Td (, its Chief Financial Of) Tj ET Q
q 0 0 0 rg BT 481.62 345.40 Td (ficer) Tj ET Q
q 0 0 0 rg BT 501.33 345.40 Td (, and its ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (Chairman of the Board seeking to represent a class of shareholders who acquired securities of the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (between January�31, 2018 and September�5, 2019. Both complaints allege that the defendants made materially false ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (and/or misleading statements, and failed to disclose material adverse facts, about the Company�) Tj ET Q
q 0 0 0 rg BT 470.32 305.80 Td (s business, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (operations, and prospects. Both complaints assert claims under the federal securities laws and seek unspecified ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (monetary damages and other relief. ) Tj ET Q
q 0 0 0 rg BT 208.01 279.40 Td (The defendants have not yet responded to either complaint but intend to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.20 Td (vigorously oppose them. ) Tj ET Q
q 0 0 0 rg BT 161.02 266.20 Td (The Company expresses no opinion as to the ultimate outcome of these matters.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (10. Fair) Tj ET Q
q 0 0 0 rg BT 89.21 226.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 91.76 226.60 Td (V) Tj ET Q
q 0 0 0 rg BT 98.69 226.60 Td (alue Measur) Tj ET Q
q 0 0 0 rg BT 156.85 226.60 Td (ements) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (The Company estimates the fair value of financial instruments using available market information and valuation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.00 Td (methodologies the Company believes to be appropriate for these purposes. Considerable judgment and a high ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.80 Td (degree of subjectivity are involved in developing these estimates and, accordingly) Tj ET Q
q 0 0 0 rg BT 410.03 173.80 Td (, they are not necessarily ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.60 Td (indicative of amounts the Company would realize upon disposition.) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (The fair value hierarchy consists of three broad levels of inputs that may be used to measure fair value, which are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (described below:) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 703.00 Td (� Level 1 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 703.00 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 68.00 689.80 Td (� Level 2 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 689.80 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 86.00 676.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 122.00 676.60 Td (observable; and) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.00 663.40 Td (� Level 3 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.00 663.40 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 86.00 650.20 Td ( ) Tj ET Q
q 0 0 0 rg BT 122.00 650.20 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 50.00 625.00 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 463.28 625.00 Td (s financial ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 611.80 Td (instruments not measured at fair value on a recurring basis:) Tj ET Q
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3 M
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407 550.3 l
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0 i
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0 J
0 j
3 M
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417 535.3 l
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0 i
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0 J
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3 M
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488 550.3 l
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273 520.3 l
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335 520.3 l
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345 520.3 l
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0 J
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3 M
345 520.3 m
407 520.3 l
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0 J
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3 M
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417 520.3 l
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0 i
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0 J
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3 M
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417 520.3 l
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3 M
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426 520.3 l
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488 520.3 l
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488 520.3 m
498 520.3 l
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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 /F4 9.00 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 291.45 554.98 Td (V) Tj ET Q
q 0 0 0 rg BT 298.21 554.98 Td (alue) Tj ET Q
BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 371.43 554.98 Td ( ) Tj ET Q
q 0 0 0 rg BT 373.75 554.98 Td (V) Tj ET Q
q 0 0 0 rg BT 380.43 554.98 Td (alue) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 436.75 564.98 Td (Carrying) Tj ET Q
BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 451.21 554.98 Td (alue) Tj ET Q
BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 524.34 554.98 Td ( ) Tj ET Q
q 0 0 0 rg BT 526.66 554.98 Td (V) Tj ET Q
q 0 0 0 rg BT 532.97 554.98 Td (alue) 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
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 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 138.30 441.60 Td (, the Company had assets related to its qualified pension plans measured at fair value. ) Tj ET Q
q 0 0 0 rg BT 517.19 441.60 Td (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
q 0 0 0 rg BT 364.32 428.40 Td (. In addition, the Company has liabilities ) 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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416.00 326.10 9.00 -15.00 re f
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425.00 326.10 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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116.00 296.10 220.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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336.00 296.10 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
406.00 296.10 10.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
416.00 296.10 9.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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425.00 296.10 70.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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406.00 266.10 10.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
416.00 266.10 9.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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0 i
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406 365.1 m
416 365.1 l
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0 J
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416 365.1 m
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495 365.1 l
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0 i
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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
q 0 0 0 rg BT 241.75 315.97 Td (.................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.50 315.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.80 315.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.50 315.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.55 315.97 Td (24.6) 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 261.00 300.97 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 477.05 300.97 Td (8.4) 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 241.75 270.97 Td (.................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 388.05 270.97 Td (0.8) 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 261.00 255.97 Td (..........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 382.55 255.97 Td (16.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.55 255.97 Td (21.0) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (96) 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 50.00 728.20 Td (remeasurement during the years ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.57 728.20 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 283.98 728.20 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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87.00 659.50 275.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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438.00 659.50 10.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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448.00 659.50 76.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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87.00 628.50 275.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
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362.00 628.50 76.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
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438.00 628.50 10.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
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448.00 628.50 76.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
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87.00 596.50 275.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
362.00 596.50 76.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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438.00 596.50 10.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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448.00 596.50 76.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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362.00 573.50 76.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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438.00 573.50 10.00 -15.00 re f
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448.00 573.50 76.00 -15.00 re f
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87.00 542.50 275.00 -15.00 re f
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362.00 542.50 76.00 -15.00 re f
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438.00 542.50 10.00 -15.00 re f
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448.00 542.50 76.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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448.00 512.50 76.00 -8.00 re f
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362.00 489.50 76.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
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448.00 489.50 76.00 -16.00 re f
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0.8 0.9333333333333333 1 rg
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438.00 312.50 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
448.00 312.50 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
362 596.5 m
438 596.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 596.5 m
448 596.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 596.5 m
524 596.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 596.5 m
362 596.5 l
s
0 0 0 RG
/GS0 gs
2.00 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
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 596.5 m
438 596.5 l
s
0 0 0 RG
/GS0 gs
2.00 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
438 596.5 m
448 596.5 l
s
0 0 0 RG
/GS0 gs
2.00 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
448 596.5 m
524 596.5 l
s
0 0 0 RG
/GS0 gs
2.00 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
87 527.5 m
362 527.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 527.5 m
438 527.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 527.5 m
448 527.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 527.5 m
524 527.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 512.5 m
362 512.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 512.5 m
438 512.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 512.5 m
448 512.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 512.5 m
524 512.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 412.5 m
362 412.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 412.5 m
438 412.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 412.5 m
448 412.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 412.5 m
524 412.5 l
s
0 0 0 RG
/GS0 gs
1.50 w
0 i
[] 0 d
0 J
0 j
3 M
87 396.5 m
362 396.5 l
s
0 0 0 RG
/GS0 gs
1.50 w
0 i
[] 0 d
0 J
0 j
3 M
362 396.5 m
438 396.5 l
s
0 0 0 RG
/GS0 gs
1.50 w
0 i
[] 0 d
0 J
0 j
3 M
438 396.5 m
448 396.5 l
s
0 0 0 RG
/GS0 gs
1.50 w
0 i
[] 0 d
0 J
0 j
3 M
448 396.5 m
524 396.5 l
s
0 0 0 RG
/GS0 gs
1.00 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
1.00 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
1.00 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
1.00 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
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
87 284.5 m
362 284.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
362 284.5 m
438 284.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 284.5 m
448 284.5 l
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
448 284.5 m
524 284.5 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 (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 475.50 694.18 Td (2018) Tj ET Q
BT /F4 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 ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.55 649.37 Td (25.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 649.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 649.37 Td (34.2) 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 /F4 11.00 Tf ET
BT /F4 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 422.80 633.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.05 633.42 Td (1.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 617.42 Td (Payments) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 133.00 617.37 Td (..................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.85 617.42 Td (\(19.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 617.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.35 617.42 Td (\(5.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 617.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 601.42 Td (Fair value adjustment of contingent consideration) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.00 601.37 Td (..................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.35 601.42 Td (\(5.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 601.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.35 601.42 Td (\(4.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 601.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 586.37 Td (Balance at end of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.00 586.37 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 586.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 420.05 586.37 Td (0.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 586.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 586.37 Td (25.4) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 563.40 Td (T) Tj ET Q
q 0 0 0 rg BT 96.43 563.40 Td (rademarks) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 547.42 Td (Balance at beginning of year ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
q 0 0 0 rg BT 218.70 552.41 Td (2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 223.75 547.37 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 547.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.55 547.42 Td (69.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 547.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 547.42 Td (55.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 532.37 Td (Impairment) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 141.25 532.37 Td (...............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.85 532.37 Td (\(41.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 433.80 532.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.85 532.37 Td (\(22.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 532.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 517.37 Td (Balance at end of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.00 517.37 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 517.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.55 517.37 Td (27.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 517.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 517.37 Td (33.0) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 494.40 Td (Investment in Next Issue Media) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 478.42 Td (Balance at beginning of year ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
q 0 0 0 rg BT 218.70 483.41 Td (3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 223.75 478.37 Td (.................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 478.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 478.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 478.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 478.42 Td (1) Tj ET Q
q 0 0 0 rg BT 506.05 478.42 Td (1.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 463.37 Td (Additions due to investment and acquisition) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.25 463.37 Td (...........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 463.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.05 463.37 Td (3.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 448.37 Td (Equity method investment losses) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 234.75 448.37 Td (.............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 448.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.35 448.37 Td (\(3.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 448.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 432.42 Td (Impairment) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 141.25 432.37 Td (...............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 432.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.35 432.42 Td (\(9.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 432.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 417.37 Td (Sale) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.00 417.37 Td (..........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 417.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.35 417.37 Td (\(1.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 417.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 401.42 Td (Balance at end of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.00 401.37 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 401.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 401.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 401.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 401.42 Td (�) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 89.50 378.40 Td (Lease guarantee) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 363.37 Td (Balance at beginning of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 218.25 363.37 Td (...................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 363.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 363.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 363.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.80 363.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 348.37 Td (Accrual on ) Tj ET Q
q 0 0 0 rg BT 140.71 348.37 Td (T) Tj ET Q
q 0 0 0 rg BT 147.14 348.37 Td (ime�) Tj ET Q
q 0 0 0 rg BT 166.80 348.37 Td (s opening balance sheet) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 273.25 348.37 Td (...............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 348.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.05 348.37 Td (3.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 333.37 Td (Issuance of new guarantees) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 212.75 333.37 Td (.....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 333.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.05 333.37 Td (9.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 317.42 Td (Fair market value adjustment of lease guarantees) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 306.25 317.37 Td (...................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 317.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.35 317.42 Td (\(0.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 317.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 302.37 Td (Foreign currency exchange impact) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.00 302.37 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 302.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.35 302.37 Td (\(0.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.80 302.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 89.50 287.42 Td (Balance at end of year) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.00 287.42 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.50 287.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 422.80 287.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.50 287.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 500.55 287.42 Td (1) Tj ET Q
q 0 0 0 rg BT 506.05 287.42 Td (1.9) Tj ET Q
BT /F4 8.00 Tf ET
BT /F4 5.20 Tf ET
q 0 0 0 rg BT 89.50 271.38 Td (1) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 92.10 267.75 Td ( ) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 96.10 267.75 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 410.67 267.75 Td (-sale on the opening balance) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 89.50 258.75 Td ( sheet, and was subsequently paid in fiscal 2018.) Tj ET Q
BT /F4 9.00 Tf ET
BT /F4 5.85 Tf ET
q 0 0 0 rg BT 89.50 244.93 Td (2) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 92.42 240.85 Td ( Book value of trademarks impair) Tj ET Q
q 0 0 0 rg BT 217.82 240.85 Td (ed during the year) Tj ET Q
q 0 0 0 rg BT 283.06 240.85 Td (.) Tj ET Q
BT /F4 9.00 Tf ET
BT /F4 5.85 Tf ET
q 0 0 0 rg BT 89.50 229.93 Td (3 ) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 93.89 225.85 Td ( Book value of investment impair) Tj ET Q
q 0 0 0 rg BT 214.53 225.85 Td (ed during the year) Tj ET Q
q 0 0 0 rg BT 279.76 225.85 Td (.) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 194.60 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 50.00 181.40 Td (projections of performance and the amortization of the present value discount. ) Tj ET Q
q 0 0 0 rg BT 396.79 181.40 Td (The fair value adjustment of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 168.20 Td (contingent consideration is included in selling, general, and administrative in the Consolidated Statements of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 155.00 Td (Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 128.60 Td (Meredith recorded impairment on certain national media trademarks at its annual impairment measurement date of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 115.40 Td (May�31, 2019. ) Tj ET Q
q 0 0 0 rg BT 116.71 115.40 Td (Therefore, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 181.76 115.40 Td ($27.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 241.04 115.40 Td ( of impaired trademarks are considered to be held at fair value at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 102.20 Td (June�30, 2019, on a non-recurring basis. Certain national media trademarks were impaired during fiscal 2018 thus ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 89.00 Td (deemed to be measured at fair value on a non-recurring basis, which totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.98 89.00 Td ($33.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 445.26 89.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 450.57 89.00 Td (The fair values of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 75.80 Td (trademarks are determined based on significant inputs not observable in the market and thus represents a Level�3 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 62.60 Td (measurement. ) Tj ET Q
q 0 0 0 rg BT 113.94 62.60 Td (The key assumptions used to determine the fair value include discount rates, estimated cash flows, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 49.40 Td (royalty rates, and revenue growth rates. ) Tj ET Q
q 0 0 0 rg BT 226.34 49.40 Td (The discount rate used is based on several factors including market interest ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 301.00 31.60 Td (97) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (rates, a weighted average cost of capital analysis based on the tar) Tj ET Q
q 0 0 0 rg BT 335.68 741.40 Td (get capital structure, and includes adjustments for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (market risk and Company specific risk. Estimated cash flows are based upon internally developed estimates and the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (revenue growth rates are based on industry knowledge and historical performance. For further discussion of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (impairment of these trademarks, refer to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 229.90 701.80 Td (Note�5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 259.53 701.80 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (The impairment of trademarks is included in the impairment of long-lived assets line in the Consolidated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (Statements of Earnings. Next Issue Media was reported as a cost method investment as of June�30, 2017, and the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (impairment of this investment is recorded in non-operating expense, net in the Consolidated Statements of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (Earnings.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (In the ) Tj ET Q
q 0 0 0 rg BT 77.49 609.40 Td (Acquisition, the Company assumed lease guarantees related to space leased by various former ) Tj ET Q
q 0 0 0 rg BT 493.94 609.40 Td (T) Tj ET Q
q 0 0 0 rg BT 500.27 609.40 Td (ime ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (subsidiaries. ) Tj ET Q
q 0 0 0 rg BT 107.24 596.20 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 50.00 583.00 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 50.00 569.80 Td (that are classified as Level�3 under the fair value hierarchy) Tj ET Q
q 0 0 0 rg BT 307.05 569.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 312.35 569.80 Td (The lease guarantee liabilities are being amortized into ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 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 50.00 543.40 Td (November 2030. ) Tj ET Q
q 0 0 0 rg BT 126.48 543.40 Td (The lease guarantees are not considered to be measured at fair value at June�30, 2019 or 2018.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (1) Tj ET Q
q 0 0 0 rg BT 54.89 503.80 Td (1. Revenue Recognition) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (Meredith disaggregates revenue from contracts with customers by types of goods and services. ) Tj ET Q
q 0 0 0 rg BT 469.11 477.40 Td (A) Tj ET Q
q 0 0 0 rg BT 476.44 477.40 Td ( reconciliation of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (disaggregated revenue to segment revenue \(as provided in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.40 464.20 Td (Note�18) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 343.54 464.20 Td (\) is as follows.) Tj ET Q
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 434.38 Td (June 30, 2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 297.65 444.38 Td (National ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 302.35 434.38 Td (Media) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 374.05 444.38 Td (Local ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 372.35 434.38 Td (Media) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 427.65 444.38 Td (Intersegment ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 430.70 434.38 Td (Elimination) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 515.05 434.38 Td (T) Tj ET Q
q 0 0 0 rg BT 520.80 434.38 Td (otal) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 419.15 Td (\(In millions\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 52.00 404.60 Td (Advertising r) Tj ET Q
q 0 0 0 rg BT 114.53 404.60 Td (elated) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 389.57 Td (Print) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 93.75 389.57 Td (...................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.00 389.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.55 389.57 Td (690.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 354.00 389.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.30 389.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 424.00 389.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 389.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.00 389.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 389.57 Td (690.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 374.57 Td (Non-political spot) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 151.50 374.57 Td (..............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.30 374.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.55 374.57 Td (323.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 374.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 374.57 Td (323.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 359.57 Td (Political spot) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 129.50 359.57 Td (......................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.30 359.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.55 359.57 Td (102.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 359.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 359.57 Td (102.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 344.57 Td (Digital) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 102.00 344.57 Td (................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.55 344.57 Td (394.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.05 344.57 Td (15.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 344.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 344.57 Td (410.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 329.57 Td (Third party sales) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 146.00 329.57 Td (................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.05 329.57 Td (65.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 398.05 329.57 Td (96.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.85 329.57 Td (\(1.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.30 329.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 329.57 Td (159.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.00 314.57 Td (T) Tj ET Q
q 0 0 0 rg BT 88.33 314.57 Td (otal advertising related) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 190.00 314.57 Td (................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.30 314.57 Td (1,150.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.55 314.57 Td (538.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.85 314.57 Td (\(1.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.30 314.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.30 314.57 Td (1,686.6) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 52.00 299.60 Td (Consumer) Tj ET Q
q 0 0 0 rg BT 100.79 299.60 Td ( r) Tj ET Q
q 0 0 0 rg BT 108.22 299.60 Td (elated) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 284.57 Td (Subscription) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 126.75 284.57 Td (.......................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.55 284.57 Td (693.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.30 284.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 284.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 284.57 Td (693.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 269.57 Td (Retransmission) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 140.50 269.57 Td (..................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.30 269.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.55 269.57 Td (316.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 269.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 269.57 Td (316.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 254.57 Td (Newsstand) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 118.50 254.57 Td (..........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.55 254.57 Td (165.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.30 254.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 254.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 254.57 Td (165.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 239.57 Td (Af) Tj ET Q
q 0 0 0 rg BT 81.51 239.57 Td (finity marketing) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 154.25 239.57 Td (.............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.05 239.57 Td (83.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.30 239.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 239.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 239.57 Td (83.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 224.57 Td (Licensing) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 115.75 224.57 Td (...........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.05 224.57 Td (94.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.30 224.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 224.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 224.57 Td (94.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 209.57 Td (Digital consumer driven) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 179.00 209.57 Td (....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.05 209.57 Td (39.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.30 209.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 209.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 209.57 Td (39.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.00 194.57 Td (T) Tj ET Q
q 0 0 0 rg BT 88.33 194.57 Td (otal consumer related) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 184.50 194.57 Td (..................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.30 194.57 Td (1,077.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.55 194.57 Td (316.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 194.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.30 194.57 Td (1,393.6) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 52.00 179.60 Td (Other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 164.57 Td (Projects based) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 135.00 164.57 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.05 164.57 Td (50.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.30 164.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 164.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 164.57 Td (50.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 70.00 149.57 Td (Other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 96.50 149.57 Td (..................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.05 149.57 Td (48.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 403.55 149.57 Td (9.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 149.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.05 149.57 Td (57.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.00 134.57 Td (T) Tj ET Q
q 0 0 0 rg BT 87.95 134.57 Td (otal other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 132.25 134.57 Td (.....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.05 134.57 Td (99.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 403.55 134.57 Td (9.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.30 134.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 134.57 Td (108.3) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 52.00 119.60 Td (T) Tj ET Q
q 0 0 0 rg BT 58.33 119.60 Td (otal r) Tj ET Q
q 0 0 0 rg BT 83.48 119.60 Td (evenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 121.25 119.57 Td (.........................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.00 119.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.30 119.57 Td (2,326.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 354.00 119.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.55 119.57 Td (863.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 424.00 119.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.85 119.57 Td (\(1.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 487.30 119.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.00 119.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.30 119.57 Td (3,188.5) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 88.80 Td (As a result of the adoption of ) Tj ET Q
q 0 0 0 rg BT 180.45 88.80 Td (ASC�606, the Company determined that certain barter revenue and expense will no ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 75.60 Td (longer be recognized. ) Tj ET Q
q 0 0 0 rg BT 147.13 75.60 Td (As a result, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 199.67 75.60 Td ($1.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 253.45 75.60 Td ( of the current portion of broadcast rights and the current portion of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 62.40 Td (broadcast rights payable and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.29 62.40 Td ($8.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 232.07 62.40 Td ( of the noncurrent portion of broadcast rights and the noncurrent portion 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 (98) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (broadcast rights payable were written of) Tj ET Q
q 0 0 0 rg BT 226.65 741.40 Td (f in the first quarter of fiscal 2019. Other impacts from the adoption of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (ASC�606 on the consolidated financial statements were immaterial.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (CONTRACT) Tj ET Q
q 0 0 0 rg BT 112.75 701.80 Td ( BALANCES) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (The timing of Meredith�) Tj ET Q
q 0 0 0 rg BT 156.62 675.40 Td (s performance under its various contracts often dif) Tj ET Q
q 0 0 0 rg BT 377.87 675.40 Td (fers from the timing of the customer) Tj ET Q
q 0 0 0 rg BT 537.73 675.40 Td (�) Tj ET Q
q 0 0 0 rg BT 540.79 675.40 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (payment, which results in the recognition of a contract asset or a contract liability) Tj ET Q
q 0 0 0 rg BT 407.89 662.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 412.79 662.20 Td (A) Tj ET Q
q 0 0 0 rg BT 420.12 662.20 Td ( contract asset is recognized ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (when a good or service is transferred to a customer and the Company does not have the contractual right to bill for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (the related performance obligations. ) Tj ET Q
q 0 0 0 rg BT 210.97 635.80 Td (A) Tj ET Q
q 0 0 0 rg BT 218.30 635.80 Td ( contract liability is recognized when consideration is received from the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (customer prior to the transfer of goods or services. Current portion of contract liabilities were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 463.60 622.60 Td ($394.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 528.38 622.60 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (July�1, 2018 and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.47 609.40 Td ($458.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 190.25 609.40 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 203.69 609.40 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.10 609.40 Td (, and are presented as current portion of unearned revenues on the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (Consolidated Balance Sheets. Noncurrent contract liabilities were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 342.02 596.20 Td ($132.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.80 596.20 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.18 596.20 Td ($318.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.96 596.20 Td ( at July�1, 2018 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 68.63 583.00 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 130.05 583.00 Td (, respectively) Tj ET Q
q 0 0 0 rg BT 187.97 583.00 Td (, and are reflected as unearned revenues on the Consolidated Balance Sheets. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (Subscription revenue of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 157.84 569.80 Td ($371.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.62 569.80 Td ( recognized in the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 354.55 569.80 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.96 569.80 Td (, was in contract liabilities at the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (beginning of the period. ) Tj ET Q
q 0 0 0 rg BT 157.84 556.60 Td (An additional ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.77 556.60 Td ($13.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 280.05 556.60 Td ( of revenue recognized in fiscal 2019 was related to the liability ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (balance as of the beginning of the period.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (NA) Tj ET Q
q 0 0 0 rg BT 65.07 517.00 Td (TURE OF) Tj ET Q
q 0 0 0 rg BT 113.25 517.00 Td ( PERFORMANCE OBLIGA) Tj ET Q
q 0 0 0 rg BT 248.71 517.00 Td (TIONS) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (At contract inception, Meredith assesses the obligations promised in its contracts with customers and identifies a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (performance obligation for each promise to transfer a good or service or bundle that is distinct. ) Tj ET Q
q 0 0 0 rg BT 469.80 477.40 Td (T) Tj ET Q
q 0 0 0 rg BT 475.76 477.40 Td (o identify the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (performance obligations, the Company considers all the promises in the contract, whether explicitly stated or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.00 Td (implied based on customary business practices. For a contract that has more than one performance obligation, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (Company allocates the total contract consideration to each distinct performance obligation on a relative standalone ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.60 Td (selling price basis. Revenue is recognized when, or as, the performance obligations are satisfied and control is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (transferred to the customer) Tj ET Q
q 0 0 0 rg BT 167.59 411.40 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.00 Td (Print ) Tj ET Q
q 0 0 0 rg BT 76.58 385.00 Td (Advertising) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 131.58 385.00 Td (�The Company provides advertisement placements in print media directly to advertisers or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 371.80 Td (through advertising agencies. ) Tj ET Q
q 0 0 0 rg BT 181.76 371.80 Td (The Company�) Tj ET Q
q 0 0 0 rg BT 247.45 371.80 Td (s performance obligations related to print advertising are satisfied ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.60 Td (when the magazine in which an advertisement appears is published, which is defined as an issue�) Tj ET Q
q 0 0 0 rg BT 476.43 358.60 Td (s on-sale date. ) Tj ET Q
q 0 0 0 rg BT 541.60 358.60 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.40 Td (customer is invoiced the agreed-upon price when the advertisements are published under normal industry trade ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.20 Td (terms. ) Tj ET Q
q 0 0 0 rg BT 79.74 332.20 Td (The agreed upon price is adjusted for estimated provisions for rebates, rate adjustments, and discounts. ) Tj ET Q
q 0 0 0 rg BT 534.28 332.20 Td (As ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.00 Td (part of the Company�) Tj ET Q
q 0 0 0 rg BT 143.78 319.00 Td (s customary business practices, print advertising contracts include guaranteed circulation ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.80 Td (levels of magazines, referred to as rate base, and a number of sales incentives to its customers including volume ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.60 Td (discounts, rebates, bonus pages, etc. For all such contracts that include these types of variable consideration, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.40 Td (Company estimates such when determining the transaction price.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.00 Td (Non-political and Political Spot ) Tj ET Q
q 0 0 0 rg BT 199.13 253.00 Td (Advertising) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 254.13 253.00 Td (�The Company sells commercial time directly to political and non-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 239.80 Td (political advertisers or through advertising agencies. ) Tj ET Q
q 0 0 0 rg BT 282.87 239.80 Td (The Company�) Tj ET Q
q 0 0 0 rg BT 348.55 239.80 Td (s performance obligations related to spot ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.60 Td (advertising are satisfied when the advertisement is aired by the broadcasting station. Rates for spot advertising are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (influenced primarily by the market size, number and type of competitors, audience share, and audience ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.20 Td (demographics. ) Tj ET Q
q 0 0 0 rg BT 117.00 200.20 Td (The customer is invoiced the agreed-upon price at the end of the month in which the advertisements ) 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 81.40 Td (through advertising agencies. ) Tj ET Q
q 0 0 0 rg BT 181.76 81.40 Td (The Company�) 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 /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 122.72 345.40 Td (�Meredith's local media segment has entered into agreements with cable, satellite, 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 50.00 319.00 Td (These licenses are functional licenses under which revenue is recognized at a point-in-time when access to the ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 277.56 305.80 Td (. ) Tj ET Q
q 0 0 0 rg BT 282.86 305.80 Td (The transaction price for retransmission agreements generally ) 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 338.83 279.40 Td (, which represents completed content, on an on-) 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 50.00 226.60 Td (ultimate resale on newsstands primarily at major retailers and grocery/drug stores, and in digital form on tablets and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.40 Td (other electronic devices. Publications sold to magazine wholesalers are sold with the right to receive credit from 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 50.00 187.00 Td (the date aligns most closely with the date that control is transferred to the customer) Tj ET Q
q 0 0 0 rg BT 414.73 187.00 Td (. ) 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 527.55 107.80 Td (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 68.20 Td (publisher and after any risk-free trial period has expired, if applicable.) 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 50.00 728.40 Td (utilize the Company�) Tj ET Q
q 0 0 0 rg BT 142.26 728.40 Td (s intellectual property) Tj ET Q
q 0 0 0 rg BT 237.46 728.40 Td (. Licensing agreements include both symbolic and functional licenses. ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (brands, a branded real estate program, and international magazine partnerships. Functional licenses in national ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.60 Td (or usage of the branded product, which is recognized over time when the sale or use occurs under the sales or ) 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 50.00 649.20 Td (the completed content is granted to the partner) Tj ET Q
q 0 0 0 rg BT 253.74 649.20 Td (.) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.35 622.80 Td (�V) Tj ET Q
q 0 0 0 rg BT 186.07 622.80 Td (arious digital consumer products utilize Meredith brands to drive responses from ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (individual customers resulting in the generation of revenue. Digital consumer driven revenue is primarily ) 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 50.00 583.20 Td (program's third-party sponsor) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 105.90 451.20 Td (.) Tj ET Q
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 50.00 411.60 Td (newsstand sales and marketing support, both of these services are expected to cease by the end of the fiscal year) Tj ET Q
q 0 0 0 rg BT 542.38 411.60 Td (. ) 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 50.00 292.80 Td (broadcasting station, or as the digital impressions are served. For performance obligations related to sales 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
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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 418.48 636.00 Td (fect the timing of revenue ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (recognized. ) Tj ET Q
q 0 0 0 rg BT 103.55 622.80 Td (The Company has determined that the above method provides a faithful depiction of the transfer of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (goods or services to the customer) Tj ET Q
q 0 0 0 rg BT 196.33 609.60 Td (. For performance obligations recognized using a time-elapsed output method, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (Company�) Tj ET Q
q 0 0 0 rg BT 95.83 596.40 Td (s ef) Tj ET Q
q 0 0 0 rg BT 111.21 596.40 Td (forts are expended evenly throughout the period.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (TRANSACTION PRICE ) Tj ET Q
q 0 0 0 rg BT 170.41 570.00 Td (AND ) Tj ET Q
q 0 0 0 rg BT 196.38 570.00 Td (AMOUNTS ) Tj ET Q
q 0 0 0 rg BT 254.75 570.00 Td (ALLOCA) Tj ET Q
q 0 0 0 rg BT 301.00 570.00 Td (TED ) Tj ET Q
q 0 0 0 rg BT 326.17 570.00 Td (T) Tj ET Q
q 0 0 0 rg BT 333.30 570.00 Td (O PERFORMANCE OBLIGA) Tj ET Q
q 0 0 0 rg BT 477.32 570.00 Td (TIONS) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (Determining the ) Tj ET Q
q 0 0 0 rg BT 129.23 543.60 Td (T) Tj ET Q
q 0 0 0 rg BT 135.75 543.60 Td (ransaction Price) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 212.42 543.60 Td (�Certain advertising contracts contain variable components of the transaction ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (price, such as volume discounts and rebates. Meredith has suf) Tj ET Q
q 0 0 0 rg BT 321.37 530.40 Td (ficient historical data and has established processes to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.20 Td (reliably estimate these variable components of the transaction price.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td (Certain spot advertising contracts contain a guarantee of ratings performance that requires Meredith to compensate ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.60 Td (the advertiser with additional advertising if the guaranteed ratings are not met. Meredith has established a reserve ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.40 Td (based on the rating points due to advertisers at the end of each fiscal quarter valued at the average station cost per ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 451.20 Td (point.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 424.80 Td (The Company typically does not of) Tj ET Q
q 0 0 0 rg BT 205.30 424.80 Td (fer any type of variable consideration in standard magazine subscription ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.60 Td (contracts. For these contracts, the transaction price is fixed upon establishment of the contract that contains the final ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 398.40 Td (terms of the sale including description, quantity and price of each subscription purchased. ) Tj ET Q
q 0 0 0 rg BT 447.21 398.40 Td (Therefore, the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 385.20 Td (does not estimate variable consideration or perform a constraint analysis for these contracts.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (A) Tj ET Q
q 0 0 0 rg BT 57.34 358.80 Td ( right of return exists for newsstand contracts. Meredith has suf) Tj ET Q
q 0 0 0 rg BT 335.43 358.80 Td (ficient historical data to estimate the final amount ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 345.60 Td (of returns and reduces the transaction price at contract inception for the expected return reserve.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.20 Td (Revenue from symbolic licenses is based on a percentage of revenue generated through the sale of the branded ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (products representing a sales-or) Tj ET Q
q 0 0 0 rg BT 189.37 306.00 Td (-usage-based royalty) Tj ET Q
q 0 0 0 rg BT 279.98 306.00 Td (. ) Tj ET Q
q 0 0 0 rg BT 285.28 306.00 Td (Therefore, revenue is recorded based on actual results when ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.80 Td (the sale or usage occurs rather than estimated at contract inception. Revenue under contracts that contain minimum ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (guarantees to be paid by the retailer to Meredith is recognized straight line each month until the royalty exceeds the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.40 Td (guarantee at which time the excess is recognized. ) Tj ET Q
q 0 0 0 rg BT 269.40 266.40 Td (There is no variable consideration related to functional licenses.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 240.00 Td (V) Tj ET Q
q 0 0 0 rg BT 56.72 240.00 Td (ariable consideration related to project based revenue is limited to discounts for overages and reimbursement of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.80 Td (out of pocket costs that are not separable from the performance obligation. Both are evaluated or estimated at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.60 Td (contract inception and throughout the contract, based on similar projects and historical experience and are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.40 Td (considered in the transaction price.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 174.00 Td (Estimating Standalone-Selling Prices) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 223.56 174.00 Td (�For contracts that contain multiple performance obligations, the Company ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.80 Td (allocates the transaction price to each performance obligation on a relative standalone-selling price basis. ) Tj ET Q
q 0 0 0 rg BT 514.98 160.80 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 147.60 Td (standalone-selling price is the price at which the Company would sell a promised good or service separately to the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.40 Td (customer) Tj ET Q
q 0 0 0 rg BT 89.71 134.40 Td (. In situations in which an obligation is bundled with other obligations and the total amount of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.20 Td (consideration does not reflect the sum of individual observable prices, the Company allocates the discount to \(1\) a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 108.00 Td (single obligation if the discount is attributable to that obligation or \(2\) prorates across all obligations if the discount ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.80 Td (relates to the bundle. ) Tj ET Q
q 0 0 0 rg BT 144.19 94.80 Td (When standalone-selling price is not directly observable, the Company estimates and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.60 Td (considers all the information that is reasonably available to the Company) Tj ET Q
q 0 0 0 rg BT 370.64 81.60 Td (, including market conditions, entity-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.40 Td (specific factors, customer information, etc. ) Tj ET Q
q 0 0 0 rg BT 241.01 68.40 Td (The Company maximizes the use of observable inputs and applies ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 55.20 Td (estimation methods consistently in similar circumstances.) Tj ET Q
endstream
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 298.50 31.60 Td (102) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.60 Td (Measuring Obligations for) Tj ET Q
q 0 0 0 rg BT 174.47 741.60 Td ( Returns and Refunds) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 277.47 741.60 Td (�The Company accepts product returns in some cases. ) Tj ET Q
q 0 0 0 rg BT 524.39 741.60 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.40 Td (Company establishes provisions for estimated returns concurrently with the recognition of revenue. ) Tj ET Q
q 0 0 0 rg BT 489.99 728.40 Td (The provisions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.20 Td (are established based upon consideration of a variety of factors, including, among other things, recent and historical ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 702.00 Td (return rates for both specific products and distributors and the impact of any new product releases and projected ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.80 Td (economic conditions. ) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.40 Td (CONTRACT) Tj ET Q
q 0 0 0 rg BT 112.75 662.40 Td ( COSTS) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td (Assets Recognized fr) Tj ET Q
q 0 0 0 rg BT 146.94 636.00 Td (om Contract Costs) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 234.93 636.00 Td (�The Company recognizes an asset for the incremental costs of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (obtaining a contract with a customer) Tj ET Q
q 0 0 0 rg BT 209.92 622.80 Td (, paid to external parties, if it expects to recover those costs. ) Tj ET Q
q 0 0 0 rg BT 475.78 622.80 Td (The Company has ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.60 Td (determined that sales commissions paid on all third-party agent sales of subscriptions are direct and incremental and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (therefore meet the capitalization criteria. ) Tj ET Q
q 0 0 0 rg BT 231.20 596.40 Td (These capitalized costs are amortized as revenue is recognized or over the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.20 Td (term of the agreement. Direct mail costs also meet the requirements to be capitalized as assets if they are proven to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (be recoverable. ) Tj ET Q
q 0 0 0 rg BT 119.32 570.00 Td (As of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 146.21 570.00 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 207.62 570.00 Td (, the balances recognized from the costs incurred to obtain contracts with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.80 Td (customers was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 117.21 556.80 Td ($515.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 181.99 556.80 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 187.49 556.80 Td ($242.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 252.27 556.80 Td ( of which was recorded in current portion of subscription acquisition ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (costs and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 93.38 543.60 Td ($273.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 158.16 543.60 Td ( was recorded in subscription acquisition costs on the Consolidated Balance Sheets. ) Tj ET Q
q 0 0 0 rg BT 528.53 543.60 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (amount of amortization that the Company recognized during ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 319.42 530.40 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 368.00 530.40 Td ( was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.60 530.40 Td ($319.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.38 530.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 460.68 530.40 Td (There were no ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.20 Td (impairments of contract assets recognized during the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 335.59 517.20 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 397.00 517.20 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 478.80 Td (12. Pension and Postr) Tj ET Q
q 0 0 0 rg BT 154.01 478.80 Td (etir) Tj ET Q
q 0 0 0 rg BT 170.29 478.80 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 50.00 452.40 Td (Defined Contribution Plans) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 426.00 Td (The Company sponsors a defined contribution saving plan 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 50.00 412.80 Td (employees may participate in the Meredith Savings and Investment Plan, a defined contribution plan that allows ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 399.60 Td (eligible employees to contribute a percentage of their salary) Tj ET Q
q 0 0 0 rg BT 312.57 399.60 Td (, commissions, and bonuses in accordance with plan ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 386.40 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 50.00 373.20 Td (makes matching contributions to the plan subject to the limits of the plan. ) Tj ET Q
q 0 0 0 rg BT 376.07 373.20 Td (The Company currently matches ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 522.69 373.20 Td (100 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 360.00 Td (percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.37 360.00 Td ( of the first ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 133.69 360.00 Td (4 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 174.30 360.00 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 195.69 360.00 Td (50 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 241.80 360.00 Td ( of the next ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 294.34 360.00 Td (1 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 334.96 360.00 Td ( of employee contributions.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 333.60 Td (In connection with the ) Tj ET Q
q 0 0 0 rg BT 150.81 333.60 Td (Acquisition, certain employees continued to participate, through December�31, 2018, in the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 320.40 Td (defined contribution savings plan that ) Tj ET Q
q 0 0 0 rg BT 218.74 320.40 Td (T) Tj ET Q
q 0 0 0 rg BT 225.07 320.40 Td (ime had in place for its employees in the U.S., the ) Tj ET Q
q 0 0 0 rg BT 447.26 320.40 Td (T) Tj ET Q
q 0 0 0 rg BT 453.59 320.40 Td (ime Inc. Savings Plan. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 307.20 Td (For the ) Tj ET Q
q 0 0 0 rg BT 84.02 307.20 Td (T) Tj ET Q
q 0 0 0 rg BT 90.35 307.20 Td (ime Inc. Savings Plan, the Company matched ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.51 307.20 Td (100 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 345.13 307.20 Td ( of the first ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 396.45 307.20 Td (4 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.06 307.20 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 458.44 307.20 Td (50 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 504.56 307.20 Td ( of the next ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 294.00 Td (2 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 90.62 294.00 Td ( of eligible compensation. In addition to the annual employer contribution made to the ) Tj ET Q
q 0 0 0 rg BT 472.57 294.00 Td (T) Tj ET Q
q 0 0 0 rg BT 478.90 294.00 Td (ime Inc. Savings ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 280.80 Td (Plan, following the plan year) Tj ET Q
q 0 0 0 rg BT 176.95 280.80 Td (, the Company made an employer match contribution of up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 451.27 280.80 Td (5 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.89 280.80 Td ( of each ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 267.60 Td (participant�) Tj ET Q
q 0 0 0 rg BT 100.09 267.60 Td (s compensation less any employer matching contribution made within the plan year to those participants ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 254.40 Td (who contributed up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 149.60 254.40 Td (6 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 190.21 254.40 Td ( of their compensation for the plan year) Tj ET Q
q 0 0 0 rg BT 363.40 254.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 368.70 254.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 388.36 254.40 Td (T) Tj ET Q
q 0 0 0 rg BT 394.69 254.40 Td (ime Inc. Savings Plan mer) Tj ET Q
q 0 0 0 rg BT 510.28 254.40 Td (ged into ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 241.20 Td (the Meredith Savings and Investment Plan ef) Tj ET Q
q 0 0 0 rg BT 247.76 241.20 Td (fective for the 2019 calendar plan year) Tj ET Q
q 0 0 0 rg BT 416.95 241.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 214.80 Td (Employees are allowed to choose among various investment options. ) Tj ET Q
q 0 0 0 rg BT 356.51 214.80 Td (The Meredith Savings and Investment Plan ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 201.60 Td (included an investment option in the Company�) Tj ET Q
q 0 0 0 rg BT 258.97 201.60 Td (s common stock until December�31, 2018. Matching contributions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 188.40 Td (are invested in the same manner as the participants�) Tj ET Q
q 0 0 0 rg BT 276.43 188.40 Td ( pre-tax contributions. Company contribution expense under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 175.20 Td (these plans totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 134.00 175.20 Td ($22.6 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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193.28 182.83 40.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 193.28 175.20 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 233.91 175.20 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
255.91 182.83 5.50 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 255.91 175.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
261.41 182.83 59.28 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 261.41 175.20 Td ($19.6 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
320.69 182.83 40.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 320.69 175.20 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 361.32 175.20 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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383.32 182.83 24.13 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 383.32 175.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
407.45 182.83 59.28 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 407.45 175.20 Td ($10.9 million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
466.73 182.83 40.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 466.73 175.20 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.36 175.20 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
529.36 182.83 2.75 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 529.36 175.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 156.43 512.63 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 148.80 Td (The Company sponsors the Meredith Corporation Deferred Compensation Plan. In connection with the ) Tj ET Q
q 0 0 0 rg BT 505.80 148.80 Td (Acquisition, ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
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50.00 143.23 507.55 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 135.60 Td (the Company assumed responsibility for sponsoring ) Tj ET Q
q 0 0 0 rg BT 281.39 135.60 Td (The ) Tj ET Q
q 0 0 0 rg BT 301.04 135.60 Td (T) Tj ET Q
q 0 0 0 rg BT 307.38 135.60 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
50.00 130.03 509.00 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 122.40 Td (plan \(collectively the Deferred Compensation Plans\). ) Tj ET Q
q 0 0 0 rg BT 286.53 122.40 Td (The Deferred Compensation Plans allow participants to defer ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 116.83 490.86 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 109.20 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
50.00 103.63 505.24 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 96.00 Td (participants have no rights to Company assets in respect of plan liabilities in excess of general unsecured creditors.) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 77.23 509.55 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 69.60 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 64.03 212.88 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 56.40 Td (for the uncollateralized plans were approximatel) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 262.88 56.40 Td (y ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.13 56.40 Td ($20.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.41 56.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 351.79 56.40 Td ($29.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.07 56.40 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 424.51 56.40 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 485.92 56.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.31 56.40 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 529.31 56.40 Td (, ) Tj ET Q
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q 0 0 0 rg BT 102.43 741.40 Td (, of which approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 215.76 741.40 Td ($4.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 269.54 741.40 Td ( was reflected in accrued compensation and benefits and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.28 728.20 Td ($16.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 175.57 728.20 Td ( was reflected in other noncurrent liabilities on the Consolidated Balance Sheets at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 715.00 Td ( and approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 199.08 715.00 Td ($8.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 252.86 715.00 Td ( was reflected in accrued compensation and benefits and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (approximately ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.28 701.80 Td ($21.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 175.57 701.80 Td ( was reflected in other noncurrent liabilities on the Consolidated Balance Sheets at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 688.60 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (Pension and Postr) Tj ET Q
q 0 0 0 rg BT 134.76 662.20 Td (etir) Tj ET Q
q 0 0 0 rg BT 151.04 662.20 Td (ement Plans) 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 (Meredith prior to the ) Tj ET Q
q 0 0 0 rg BT 144.09 622.60 Td (Acquisition. In connection with the ) Tj ET Q
q 0 0 0 rg BT 301.73 622.60 Td (Acquisition, the Company assumed the obligations under ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (T) Tj ET Q
q 0 0 0 rg BT 56.33 609.40 Td (ime�) Tj ET Q
q 0 0 0 rg BT 75.88 609.40 Td (s various international pension plans including plans in the U.K., Netherlands, and Germany) Tj ET Q
q 0 0 0 rg BT 481.47 609.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 486.77 609.40 Td (These domestic ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (and international plans include qualified \(funded\) plans as well as nonqualified \(unfunded\) plans. ) Tj ET Q
q 0 0 0 rg BT 480.51 596.20 Td (These plans ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (provide participating employees with retirement benefits in accordance with benefit provision formulas. ) Tj ET Q
q 0 0 0 rg BT 510.13 583.00 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (nonqualified plans provide retirement benefits only to certain highly compensated employees. ) Tj ET Q
q 0 0 0 rg BT 465.85 569.80 Td (The Company also ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (sponsors defined healthcare and life insurance plans that provide benefits to eligible retirees.) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 381.76 728.40 Td (s net assets/liabilities for pension and ) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F1 10.00 Tf ET
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q 0 0 0 rg BT 507.93 682.18 Td (etir) Tj ET Q
q 0 0 0 rg BT 522.73 682.18 Td (ement) Tj ET Q
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 52.00 644.18 Td (June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 293.00 644.18 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 337.00 644.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 389.00 644.18 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 433.00 644.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F4 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
q 0 0 0 rg BT 502.25 464.37 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 450.25 449.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.25 449.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.25 449.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 434.37 Td (Foreign currency exchange rate impact) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 225.75 434.37 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 /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F4 11.00 Tf ET
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BT /F2 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 354.25 359.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 406.25 359.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.50 359.37 Td (867.7) Tj ET Q
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 623.7 m
373.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 609.7 m
377.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
377.5 623.7 m
421.5 623.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
377.5 609.7 m
421.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421.5 623.7 m
465.5 623.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421.5 609.7 m
465.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 623.7 m
469.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
465.5 609.7 m
469.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
473.5 609.7 m
517.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
517.5 609.7 m
561.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 609.7 m
373.5 594.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 609.7 m
469.5 594.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 609.7 m
473.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
473.5 609.7 m
517.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
517.5 609.7 m
561.5 609.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 594.7 m
373.5 579.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 594.7 m
469.5 579.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 579.7 m
373.5 564.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 579.7 m
469.5 564.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 564.7 m
373.5 548.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 564.7 m
469.5 548.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 548.7 m
373.5 533.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 548.7 m
469.5 533.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 533.7 m
373.5 518.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 533.7 m
469.5 518.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 503.7 m
281.5 503.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
281.5 503.7 m
325.5 503.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
325.5 503.7 m
369.5 503.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
369.5 503.7 m
373.5 503.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 518.7 m
373.5 503.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 503.7 m
377.5 503.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
377.5 503.7 m
421.5 503.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
421.5 503.7 m
465.5 503.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 518.7 m
469.5 503.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
473.5 503.7 m
517.5 503.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
517.5 503.7 m
561.5 503.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 488.7 m
281.5 488.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
281.5 488.7 m
325.5 488.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
325.5 488.7 m
369.5 488.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
369.5 488.7 m
373.5 488.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 503.7 m
373.5 488.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 488.7 m
377.5 488.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
377.5 488.7 m
421.5 488.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
421.5 488.7 m
465.5 488.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 503.7 m
469.5 488.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
465.5 503.7 m
469.5 503.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
465.5 488.7 m
469.5 488.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 503.7 m
473.5 503.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 488.7 m
473.5 488.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
473.5 503.7 m
517.5 503.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
473.5 488.7 m
517.5 488.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
517.5 503.7 m
561.5 503.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
517.5 488.7 m
561.5 488.7 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 358.30 642.38 Td (Pension) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 483.25 642.38 Td (Postr) Tj ET Q
q 0 0 0 rg BT 505.93 642.38 Td (etir) Tj ET Q
q 0 0 0 rg BT 520.73 642.38 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 305.25 628.38 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 392.65 628.38 Td (International) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 497.25 628.38 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 293.00 614.38 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 337.00 614.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 389.00 614.38 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 433.00 614.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 485.00 614.38 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 529.00 614.38 Td (2018) Tj ET Q
BT /F4 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 159.75 569.57 Td (...........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.00 569.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.00 569.57 Td (1) Tj ET Q
q 0 0 0 rg BT 307.50 569.57 Td (1.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.00 569.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 346.00 569.57 Td (16.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.00 569.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.50 569.57 Td (157.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 424.00 569.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.50 569.57 Td (137.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.00 569.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.25 569.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 520.00 569.57 Td ($) 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 179.00 538.57 Td (....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 298.35 538.57 Td (\(28.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 321.30 538.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.85 538.57 Td (\(9.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.30 538.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 399.85 538.57 Td (\(0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 417.30 538.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 443.85 538.57 Td (\(0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.30 538.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 495.85 538.57 Td (\(0.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.30 538.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 538.57 Td (\(0.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 538.57 Td (\)) 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 179.00 508.57 Td (....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 298.35 508.57 Td (\(35.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 321.30 508.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 342.35 508.57 Td (\(47.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.30 508.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 394.35 508.57 Td (\(10.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 417.30 508.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.35 508.57 Td (\(17.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 461.30 508.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 495.85 508.57 Td (\(7.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.30 508.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 508.57 Td (\(7.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 508.57 Td (\)) 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 212.00 493.57 Td (........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 298.35 493.57 Td (\(52.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 321.30 493.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 342.35 493.57 Td (\(40.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 365.30 493.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 380.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.50 493.57 Td (146.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 424.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.50 493.57 Td (120.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 476.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 495.85 493.57 Td (\(8.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 513.30 493.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 520.00 493.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 493.57 Td (\(8.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 493.57 Td (\)) 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 ($171.1 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 ($164.7 ) 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
q 0 0 0 rg BT 95.22 449.60 Td (June�30, 2019) 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
q 0 0 0 rg BT 178.01 449.60 Td (2018) 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 ($725.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 230.87 436.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 252.25 436.40 Td ($721.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.03 436.40 Td ( at ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.47 436.40 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
391.88 444.03 21.38 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 391.88 436.40 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.26 436.40 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.26 436.40 Td (,) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
438.01 444.03 55.53 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 438.01 436.40 Td ( respectively) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 493.19 436.40 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
103.50 345.10 180.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
283.50 345.10 50.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
333.50 345.10 9.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
342.50 345.10 50.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
392.50 345.10 4.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
396.50 345.10 4.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
400.50 345.10 50.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
450.50 345.10 7.00 -15.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
457.50 345.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
103.50 330.10 180.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
283.50 330.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
333.50 330.10 9.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
342.50 330.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
392.50 330.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
396.50 330.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
400.50 330.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
450.50 330.10 7.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
457.50 330.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
103.50 300.10 180.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
283.50 300.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
333.50 300.10 9.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
342.50 300.10 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
392.50 300.10 4.00 -15.00 re f
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 331.30 682.18 Td (Pension) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 474.25 682.18 Td (Postr) Tj ET Q
q 0 0 0 rg BT 496.93 682.18 Td (etir) Tj ET Q
q 0 0 0 rg BT 511.73 682.18 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 287.75 668.18 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 378.15 668.18 Td (International) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 486.25 668.18 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 653.37 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 653.37 Td (ears ended June�30,) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.00 653.37 Td ( ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 261.00 654.18 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 297.50 654.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 334.00 654.18 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 378.00 654.18 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 414.50 654.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 459.00 654.18 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 495.00 654.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 532.00 654.18 Td (2017) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 638.95 Td (\(In millions\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 52.00 624.55 Td (Components of net periodic benefit costs) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 610.37 Td (Service cost) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.00 610.37 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.00 610.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.05 610.37 Td (1) Tj ET Q
q 0 0 0 rg BT 271.55 610.37 Td (1.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.00 610.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.05 610.37 Td (13.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 329.00 610.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 339.05 610.37 Td (12.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.00 610.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 388.55 610.37 Td (0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.00 610.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.30 610.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 454.00 610.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.30 610.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 490.00 610.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.55 610.37 Td (0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.00 610.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.55 610.37 Td (0.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 595.37 Td (Interest cost) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.00 595.37 Td (....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.55 595.37 Td (6.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.55 595.37 Td (5.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.55 595.37 Td (4.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.05 595.37 Td (16.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.55 595.37 Td (8.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.55 595.37 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.55 595.37 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.55 595.37 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 579.42 Td (Expected return on plan assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.75 579.37 Td (.......................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 267.85 579.42 Td (\(9.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 285.30 579.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 299.35 579.42 Td (\(10.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.30 579.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.85 579.42 Td (\(9.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 358.30 579.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.35 579.42 Td (\(31.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.30 579.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.35 579.42 Td (\(17.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.30 579.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.30 579.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.30 579.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 579.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 563.42 Td (Prior service cost \(credit\) amortization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.50 563.37 Td (..........) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.55 563.42 Td (0.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.55 563.42 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.55 563.42 Td (0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.30 563.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.30 563.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.30 563.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.85 563.42 Td (\(0.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.30 563.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 563.42 Td (\(0.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 563.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 547.42 Td (Actuarial loss \(gain\) amortization) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 200.50 547.37 Td (..................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.55 547.42 Td (1.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.55 547.42 Td (2.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.55 547.42 Td (3.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.30 547.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.30 547.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 465.85 547.42 Td (\(0.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.30 547.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.85 547.42 Td (\(0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.30 547.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 547.42 Td (\(0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 547.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 532.37 Td (Settlement char) Tj ET Q
q 0 0 0 rg BT 120.62 532.37 Td (ge \(credit\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 167.50 532.37 Td (..............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.55 532.37 Td (2.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 311.30 532.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.30 532.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.85 532.37 Td (\(4.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.30 532.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 425.55 532.37 Td (0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.30 532.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.30 532.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 532.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 517.37 Td (Contractual termination benefits) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 195.00 517.37 Td (....................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 271.55 517.37 Td (1.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 311.30 517.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.30 517.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.30 517.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 428.30 517.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.30 517.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.30 517.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 517.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 502.37 Td (Net periodic benefit costs \(credit\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 200.50 502.37 Td (..................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 256.00 502.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 266.05 502.37 Td (14.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.00 502.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.05 502.37 Td (10.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 329.00 502.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 339.05 502.37 Td (12.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.00 502.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.35 502.37 Td (\(18.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 402.30 502.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 409.00 502.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.85 502.37 Td (\(9.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.30 502.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 454.00 502.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 465.85 502.37 Td (\(0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.30 502.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 490.00 502.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 501.85 502.37 Td (\(0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.30 502.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 526.00 502.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.85 502.37 Td (\(0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 557.30 502.37 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 471.60 Td (The components of net periodic benefit costs \(credit\), other than the service cost component, are included in non-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 458.40 Td (operating income, net in the Consolidated Statements of Earnings. ) Tj ET Q
q 0 0 0 rg BT 343.99 458.40 Td (The amortization of amounts related to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 445.20 Td (unrecognized prior service costs/credit and net actuarial gain/loss were reclassified out of other comprehensive ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 432.00 Td (income as components of net periodic benefit costs.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 405.60 Td (Amounts recognized in the accumulated other comprehensive loss component of shareholders�) Tj ET Q
q 0 0 0 rg BT 466.44 405.60 Td ( equity for Company-) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 392.40 Td (sponsored plans were as follows:) Tj ET Q
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0.8 0.9333333333333333 1 rg
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481.50 277.70 40.00 -15.00 re f
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521.50 277.70 40.00 -15.00 re f
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3 M
325.5 617.7 m
369.5 617.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 632.7 m
373.5 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
369.5 617.7 m
373.5 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
373.5 617.7 m
377.5 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
377.5 617.7 m
421.5 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
421.5 617.7 m
465.5 617.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 632.7 m
469.5 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
465.5 617.7 m
469.5 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 617.7 m
473.5 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
473.5 617.7 m
517.5 617.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
517.5 617.7 m
561.5 617.7 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 356.30 695.38 Td (Pension) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 483.25 695.38 Td (Postr) Tj ET Q
q 0 0 0 rg BT 505.93 695.38 Td (etir) Tj ET Q
q 0 0 0 rg BT 520.73 695.38 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 305.25 681.38 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 392.65 681.38 Td (International) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 497.25 681.38 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 667.38 Td (June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 293.00 667.38 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 337.00 667.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 389.00 667.38 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 433.00 667.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 485.00 667.38 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 529.00 667.38 Td (2018) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 52.00 652.60 Td (W) Tj ET Q
q 0 0 0 rg BT 62.39 652.60 Td (eighted average assumptions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 637.57 Td (Discount rate) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 113.00 637.57 Td (............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 296.55 637.57 Td (3.39) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.80 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.55 637.57 Td (4.03) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 359.80 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.55 637.57 Td (2.24) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 411.80 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 436.55 637.57 Td (2.57) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.80 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.55 637.57 Td (3.45) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.80 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 637.57 Td (4.10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.80 637.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 622.57 Td (Rate of compensation increase) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 187.25 622.57 Td (.................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 296.55 622.57 Td (3.09) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.80 622.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.55 622.57 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 359.80 622.57 Td (%) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 403.90 622.56 Td (n/a) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 447.90 622.56 Td (n/a) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.55 622.57 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.80 622.57 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 622.57 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.80 622.57 Td (%) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 607.15 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
49.50 496.10 176.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
225.50 496.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
265.50 496.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.50 496.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
345.50 496.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
349.50 496.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
353.50 496.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
393.50 496.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
433.50 496.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
437.50 496.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
441.50 496.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 496.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
521.50 496.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 466.10 176.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
225.50 466.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
265.50 466.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.50 466.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
345.50 466.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
349.50 466.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
353.50 466.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
393.50 466.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
433.50 466.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
437.50 466.10 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
441.50 466.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
481.50 466.10 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
521.50 466.10 40.00 -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
49.5 553.1 m
225.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
225.5 553.1 m
265.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
225.5 539.1 m
265.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
265.5 553.1 m
305.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
265.5 539.1 m
305.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305.5 553.1 m
345.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305.5 539.1 m
345.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 553.1 m
349.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 539.1 m
349.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 553.1 m
353.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 539.1 m
353.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
353.5 553.1 m
393.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
393.5 553.1 m
433.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
433.5 553.1 m
437.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
433.5 539.1 m
437.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 553.1 m
437.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 553.1 m
441.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 539.1 m
441.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
441.5 553.1 m
481.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
441.5 539.1 m
481.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 553.1 m
521.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 539.1 m
521.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 553.1 m
561.5 553.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 539.1 m
561.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
225.5 525.1 m
265.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
265.5 525.1 m
305.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305.5 525.1 m
345.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 539.1 m
349.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 525.1 m
349.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 539.1 m
353.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 525.1 m
353.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
353.5 539.1 m
393.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
353.5 525.1 m
393.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
393.5 539.1 m
433.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
393.5 525.1 m
433.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 539.1 m
437.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 539.1 m
441.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 525.1 m
441.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
441.5 539.1 m
481.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
441.5 525.1 m
481.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 539.1 m
521.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 525.1 m
521.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 539.1 m
561.5 539.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 525.1 m
561.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 511.1 m
225.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
225.5 511.1 m
265.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
265.5 511.1 m
305.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305.5 511.1 m
345.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 525.1 m
349.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 525.1 m
349.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 511.1 m
349.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 511.1 m
353.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
353.5 511.1 m
393.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
393.5 511.1 m
433.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
433.5 511.1 m
437.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 525.1 m
437.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 525.1 m
441.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 511.1 m
441.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
441.5 525.1 m
481.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
441.5 511.1 m
481.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 525.1 m
521.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 511.1 m
521.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 525.1 m
561.5 525.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 511.1 m
561.5 511.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 511.1 m
349.5 496.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 511.1 m
437.5 496.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 496.1 m
349.5 481.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 496.1 m
437.5 481.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 481.1 m
349.5 466.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 481.1 m
437.5 466.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 451.1 m
225.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
225.5 451.1 m
265.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
265.5 451.1 m
305.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
305.5 451.1 m
345.5 451.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 466.1 m
349.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
345.5 451.1 m
349.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
349.5 451.1 m
353.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
353.5 451.1 m
393.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
393.5 451.1 m
433.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
433.5 451.1 m
437.5 451.1 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 466.1 m
437.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
437.5 451.1 m
441.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
441.5 451.1 m
481.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
481.5 451.1 m
521.5 451.1 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 451.1 m
561.5 451.1 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 312.30 543.78 Td (Pension) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 469.25 543.78 Td (Postr) Tj ET Q
q 0 0 0 rg BT 491.93 543.78 Td (etir) Tj ET Q
q 0 0 0 rg BT 506.73 543.78 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 265.25 529.78 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 362.65 529.78 Td (International) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 481.25 529.78 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 515.78 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 515.78 Td (ears ended June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 235.00 515.78 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 275.00 515.78 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 315.00 515.78 Td (2017) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 363.00 515.78 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 403.00 515.78 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 451.00 515.78 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 491.00 515.78 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 531.00 515.78 Td (2017) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 52.00 501.00 Td (W) Tj ET Q
q 0 0 0 rg BT 62.39 501.00 Td (eighted average assumptions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 485.97 Td (Discount rate) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 112.00 485.97 Td (........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 236.55 485.97 Td (4.03) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.80 485.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 276.55 485.97 Td (3.41) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.80 485.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.55 485.97 Td (2.98) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 335.80 485.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.55 485.97 Td (2.57) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.80 485.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.55 485.97 Td (2.57) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 423.80 485.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.55 485.97 Td (4.10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.80 485.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.55 485.97 Td (3.65) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.80 485.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 485.97 Td (3.40) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.80 485.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 470.97 Td (Expected return on plan assets) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 186.25 470.97 Td (.............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 236.55 470.97 Td (8.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.80 470.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 276.55 470.97 Td (8.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.80 470.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.55 470.97 Td (8.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 335.80 470.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.55 470.97 Td (3.89) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 383.80 470.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.55 470.97 Td (4.87) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 423.80 470.97 Td (%) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 463.90 470.96 Td (n/a) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 503.90 470.96 Td (n/a) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 543.90 470.96 Td (n/a) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 455.97 Td (Rate of compensation increase) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 189.00 455.97 Td (............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 236.55 455.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.80 455.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 276.55 455.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.80 455.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.55 455.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 335.80 455.97 Td (%) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 375.90 455.96 Td (n/a) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.55 455.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 423.80 455.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.55 455.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.80 455.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.55 455.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.80 455.97 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 455.97 Td (3.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.80 455.97 Td (%) Tj ET Q
BT /F4 10.00 Tf ET
q 0 0 0 rg BT 52.00 441.66 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 50.00 412.20 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 494.50 412.20 Td (The assumed ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 399.00 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
122.00 345.50 226.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 345.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 345.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.00 345.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 345.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
442.00 345.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
446.00 345.50 43.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
122.00 315.50 226.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 315.50 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
352.00 315.50 43.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
395.00 315.50 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
399.00 315.50 43.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
442.00 315.50 4.00 -13.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
446.00 315.50 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
122 388.5 m
348 388.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 388.5 m
352 388.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352 388.5 m
395 388.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352 374.5 m
395 374.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395 388.5 m
399 388.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395 374.5 m
399 374.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399 388.5 m
442 388.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399 374.5 m
442 374.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
442 388.5 m
446 388.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
442 374.5 m
446 374.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
446 388.5 m
489 388.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
446 374.5 m
489 374.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
122 360.5 m
348 360.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 360.5 m
352 360.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352 374.5 m
395 374.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
352 360.5 m
395 360.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
395 360.5 m
399 360.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399 374.5 m
442 374.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
399 360.5 m
442 360.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
442 360.5 m
446 360.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
446 374.5 m
489 374.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
446 360.5 m
489 360.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
122 302.5 m
348 302.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 302.5 m
352 302.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
352 302.5 m
395 302.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
395 302.5 m
399 302.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
399 302.5 m
442 302.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
442 302.5 m
446 302.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
446 302.5 m
489 302.5 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 388.25 379.18 Td (Postr) Tj ET Q
q 0 0 0 rg BT 410.93 379.18 Td (etir) Tj ET Q
q 0 0 0 rg BT 425.73 379.18 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 124.50 365.18 Td (Assumed healthcar) Tj ET Q
q 0 0 0 rg BT 206.26 365.18 Td (e cost tr) Tj ET Q
q 0 0 0 rg BT 239.95 365.18 Td (end rates as of June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 363.00 365.18 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 410.00 365.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 457.00 365.18 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 124.50 350.37 Td (Rate of increase in health care cost levels) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.50 335.37 Td (Initial level) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 193.25 335.37 Td (.......................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 366.05 335.37 Td (6.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.30 335.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.05 335.37 Td (6.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.30 335.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 460.05 335.37 Td (7.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.30 335.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.50 320.37 Td (Ultimate level) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 207.00 320.37 Td (..................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 366.05 320.37 Td (5.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.30 320.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 413.05 320.37 Td (5.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 432.30 320.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 460.05 320.37 Td (5.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 479.30 320.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.50 305.42 Td (Y) Tj ET Q
q 0 0 0 rg BT 149.34 305.42 Td (ears to ultimate level) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 242.75 305.42 Td (.....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 360.00 305.42 Td (3 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 407.00 305.42 Td (4 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 454.00 305.42 Td (5 years) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 276.60 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 50.00 263.40 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 50.00 250.20 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 50.00 237.00 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 50.00 223.80 Td (on broad equity and bond indices. ) Tj ET Q
q 0 0 0 rg BT 201.63 223.80 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 50.00 210.60 Td (assets and expected contributions to the plan during the year) Tj ET Q
q 0 0 0 rg BT 314.84 210.60 Td (. ) Tj ET Q
q 0 0 0 rg BT 320.14 210.60 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 50.00 197.40 Td (periodic basis.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 171.00 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 50.00 157.80 Td (compute the expected return on plan assets, a component of net periodic pension cost. ) Tj ET Q
q 0 0 0 rg BT 430.41 157.80 Td (The market-related value of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 144.60 Td (plan assets is a calculated value that recognizes changes in fair value over three years.) Tj ET Q
endstream
endobj
221 0 obj
<>
endobj
222 0 obj
<>
stream
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 (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 /F4 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 2019) 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, 2019) 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 /F6 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
49.50 501.50 152.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
201.50 501.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
241.50 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
245.50 501.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
285.50 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
289.50 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
293.50 501.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
333.50 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.50 501.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
377.50 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
381.50 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.50 501.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
425.50 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
429.50 501.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
469.50 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.50 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
477.50 501.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.50 501.50 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
521.50 501.50 40.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 471.50 152.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
201.50 471.50 40.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
241.50 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
245.50 471.50 40.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
285.50 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
289.50 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
293.50 471.50 40.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
333.50 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.50 471.50 40.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
377.50 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
381.50 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
385.50 471.50 40.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
425.50 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
429.50 471.50 40.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
469.50 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
473.50 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
477.50 471.50 40.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
517.50 471.50 4.00 -17.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
521.50 471.50 40.00 -17.00 re f
/GS0 gs
1 1 1 rg
/GS0 gs
49.50 439.50 152.00 -7.00 re f
/GS0 gs
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 546.5 m
201.5 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
201.5 546.5 m
241.5 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
201.5 531.5 m
241.5 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
241.5 546.5 m
245.5 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
241.5 531.5 m
245.5 531.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
245.5 546.5 m
285.5 546.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
245.5 531.5 m
285.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
285.5 546.5 m
289.5 546.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
285.5 531.5 m
289.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
289.5 546.5 m
293.5 546.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
289.5 531.5 m
293.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
293.5 546.5 m
333.5 546.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
293.5 531.5 m
333.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
333.5 546.5 m
337.5 546.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
333.5 531.5 m
337.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 546.5 m
377.5 546.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 531.5 m
377.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
377.5 546.5 m
381.5 546.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
377.5 531.5 m
381.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
381.5 546.5 m
381.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
381.5 546.5 m
385.5 546.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
381.5 531.5 m
385.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
385.5 546.5 m
425.5 546.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
385.5 531.5 m
425.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
425.5 546.5 m
429.5 546.5 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
425.5 531.5 m
429.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
429.5 546.5 m
469.5 546.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
429.5 531.5 m
469.5 531.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 546.5 m
473.5 546.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 531.5 m
473.5 531.5 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
473.5 546.5 m
477.5 546.5 l
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1.00 w
0 i
[] 0 d
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0 j
3 M
473.5 531.5 m
477.5 531.5 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
477.5 546.5 m
517.5 546.5 l
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
477.5 531.5 m
517.5 531.5 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
517.5 546.5 m
521.5 546.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
517.5 531.5 m
521.5 531.5 l
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1.00 w
0 i
[] 0 d
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3 M
521.5 546.5 m
561.5 546.5 l
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1.00 w
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[] 0 d
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3 M
521.5 531.5 m
561.5 531.5 l
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1.00 w
0 i
[] 0 d
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0 j
3 M
201.5 531.5 m
241.5 531.5 l
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1.00 w
0 i
[] 0 d
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0 j
3 M
201.5 516.5 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
241.5 531.5 m
245.5 531.5 l
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1.00 w
0 i
[] 0 d
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0 j
3 M
241.5 516.5 m
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
245.5 531.5 m
285.5 531.5 l
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1.00 w
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[] 0 d
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3 M
245.5 516.5 m
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[] 0 d
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3 M
285.5 531.5 m
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3 M
285.5 516.5 m
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[] 0 d
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3 M
289.5 531.5 m
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3 M
289.5 531.5 m
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3 M
289.5 516.5 m
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3 M
293.5 531.5 m
333.5 531.5 l
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3 M
293.5 516.5 m
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3 M
333.5 531.5 m
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333.5 516.5 m
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3 M
337.5 531.5 m
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337.5 516.5 m
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3 M
377.5 531.5 m
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377.5 516.5 m
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3 M
381.5 531.5 m
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3 M
381.5 516.5 m
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3 M
385.5 516.5 m
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3 M
425.5 516.5 m
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3 M
429.5 516.5 m
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473.5 531.5 m
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469.5 516.5 m
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473.5 516.5 m
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477.5 516.5 m
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517.5 516.5 m
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521.5 516.5 m
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49.5 501.5 m
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201.5 501.5 m
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241.5 501.5 m
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245.5 501.5 m
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285.5 501.5 m
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289.5 516.5 m
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289.5 501.5 m
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[] 0 d
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293.5 501.5 m
333.5 501.5 l
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333.5 501.5 m
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337.5 501.5 m
377.5 501.5 l
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377.5 501.5 m
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1.00 w
0 i
[] 0 d
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3 M
381.5 516.5 m
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1.00 w
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[] 0 d
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3 M
425.5 501.5 m
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429.5 501.5 m
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473.5 516.5 m
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469.5 501.5 m
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473.5 501.5 m
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3 M
477.5 501.5 m
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3 M
517.5 501.5 m
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521.5 501.5 m
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201.5 501.5 m
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3 M
241.5 501.5 m
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3 M
245.5 501.5 m
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3 M
285.5 501.5 m
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3 M
289.5 501.5 m
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3 M
289.5 501.5 m
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3 M
293.5 501.5 m
333.5 501.5 l
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3 M
337.5 501.5 m
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3 M
377.5 501.5 m
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3 M
381.5 501.5 m
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3 M
381.5 501.5 m
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3 M
385.5 501.5 m
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3 M
425.5 501.5 m
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3 M
473.5 501.5 m
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3 M
517.5 501.5 m
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3 M
521.5 501.5 m
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3 M
289.5 486.5 m
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3 M
381.5 486.5 m
381.5 471.5 l
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[] 0 d
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3 M
473.5 486.5 m
473.5 471.5 l
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1.00 w
0 i
[] 0 d
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3 M
49.5 454.5 m
201.5 454.5 l
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[] 0 d
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3 M
201.5 454.5 m
241.5 454.5 l
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1.00 w
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[] 0 d
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3 M
241.5 454.5 m
245.5 454.5 l
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1.00 w
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[] 0 d
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3 M
245.5 454.5 m
285.5 454.5 l
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1.00 w
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[] 0 d
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3 M
285.5 454.5 m
289.5 454.5 l
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1.00 w
0 i
[] 0 d
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3 M
289.5 471.5 m
289.5 454.5 l
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1.00 w
0 i
[] 0 d
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3 M
289.5 454.5 m
293.5 454.5 l
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1.00 w
0 i
[] 0 d
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3 M
293.5 454.5 m
333.5 454.5 l
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[] 0 d
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3 M
333.5 454.5 m
337.5 454.5 l
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1.00 w
0 i
[] 0 d
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3 M
337.5 454.5 m
377.5 454.5 l
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1.00 w
0 i
[] 0 d
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3 M
381.5 471.5 m
381.5 454.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
429.5 454.5 m
469.5 454.5 l
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1.00 w
0 i
[] 0 d
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3 M
473.5 471.5 m
473.5 454.5 l
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1.00 w
0 i
[] 0 d
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3 M
469.5 454.5 m
473.5 454.5 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
473.5 454.5 m
477.5 454.5 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
477.5 454.5 m
517.5 454.5 l
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2.00 w
0 i
[] 0 d
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3 M
49.5 439.5 m
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0 i
[] 0 d
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3 M
201.5 439.5 m
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2.00 w
0 i
[] 0 d
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3 M
241.5 439.5 m
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3 M
245.5 454.5 m
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3 M
245.5 439.5 m
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3 M
285.5 439.5 m
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3 M
289.5 454.5 m
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2.00 w
0 i
[] 0 d
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3 M
289.5 439.5 m
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2.00 w
0 i
[] 0 d
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3 M
293.5 439.5 m
333.5 439.5 l
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0 i
[] 0 d
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3 M
333.5 439.5 m
337.5 439.5 l
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0 i
[] 0 d
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3 M
337.5 439.5 m
377.5 439.5 l
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1.00 w
0 i
[] 0 d
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0 j
3 M
377.5 454.5 m
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0 i
[] 0 d
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3 M
377.5 439.5 m
381.5 439.5 l
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
381.5 454.5 m
381.5 439.5 l
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
381.5 454.5 m
385.5 454.5 l
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0 i
[] 0 d
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3 M
381.5 439.5 m
385.5 439.5 l
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0 i
[] 0 d
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3 M
385.5 454.5 m
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2.00 w
0 i
[] 0 d
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3 M
385.5 439.5 m
425.5 439.5 l
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1.00 w
0 i
[] 0 d
0 J
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3 M
425.5 454.5 m
429.5 454.5 l
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
425.5 439.5 m
429.5 439.5 l
s
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
429.5 439.5 m
469.5 439.5 l
s
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
473.5 454.5 m
473.5 439.5 l
s
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
469.5 439.5 m
473.5 439.5 l
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2.00 w
0 i
[] 0 d
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0 j
3 M
473.5 439.5 m
477.5 439.5 l
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
477.5 439.5 m
517.5 439.5 l
s
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
517.5 454.5 m
521.5 454.5 l
s
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
517.5 439.5 m
521.5 439.5 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
521.5 454.5 m
561.5 454.5 l
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[] 0 d
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521.5 439.5 m
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s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 269.25 536.18 Td (Domestic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 444.65 536.18 Td (International) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 210.05 521.18 Td (2019 ) Tj ET Q
q 0 0 0 rg BT 232.27 521.18 Td (Allocation) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 302.05 521.18 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 324.27 521.18 Td (Allocation) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 394.05 521.18 Td (2019 ) Tj ET Q
q 0 0 0 rg BT 416.27 521.18 Td (Allocation) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 486.05 521.18 Td (2018 ) Tj ET Q
q 0 0 0 rg BT 508.00 521.18 Td (Allocation) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 506.18 Td (June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 210.00 506.18 Td (T) Tj ET Q
q 0 0 0 rg BT 216.21 506.18 Td (arget) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 253.65 506.18 Td (Actual) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 302.00 506.18 Td (T) Tj ET Q
q 0 0 0 rg BT 308.21 506.18 Td (arget) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 345.65 506.18 Td (Actual) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 394.00 506.18 Td (T) Tj ET Q
q 0 0 0 rg BT 400.21 506.18 Td (arget) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 437.65 506.18 Td (Actual) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 486.00 506.18 Td (T) Tj ET Q
q 0 0 0 rg BT 492.21 506.18 Td (arget) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 529.65 506.18 Td (Actual) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 491.37 Td (Equity securities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 126.50 491.37 Td (..........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.80 491.37 Td (70) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.80 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 264.80 491.37 Td (68) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 275.80 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.80 491.37 Td (70) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.80 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.80 491.37 Td (70) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.80 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.30 491.37 Td (7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.80 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 454.30 491.37 Td (7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.80 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.80 491.37 Td (32) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.80 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 540.80 491.37 Td (18) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.80 491.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 476.37 Td (Fixed-income securities) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.50 476.37 Td (..............) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.80 476.37 Td (30) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.80 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 264.80 476.37 Td (32) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 275.80 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.80 476.37 Td (30) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.80 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.80 476.37 Td (30) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.80 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.80 476.37 Td (80) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.80 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.80 476.37 Td (79) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.80 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.80 476.37 Td (17) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.80 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 540.80 476.37 Td (29) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.80 476.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 459.42 Td (Other securities ) Tj ET Q
BT /F4 11.00 Tf ET
BT /F4 7.15 Tf ET
q 0 0 0 rg BT 124.09 464.41 Td (1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 129.25 459.37 Td (.........................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 220.80 459.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.80 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 264.80 459.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 275.80 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.80 459.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.80 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 356.80 459.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.80 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 404.80 459.42 Td (13) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.80 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 448.80 459.42 Td (14) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.80 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 496.80 459.42 Td (51) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.80 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 540.80 459.42 Td (53) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.80 459.42 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 444.37 Td (T) Tj ET Q
q 0 0 0 rg BT 57.95 444.37 Td (otal) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 77.00 444.37 Td (............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 215.30 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 231.80 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 259.30 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 275.80 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 307.30 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.80 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 351.30 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.80 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 399.30 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.80 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 443.30 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.80 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.30 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.80 444.37 Td (%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 444.37 Td (100) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 551.80 444.37 Td (%) Tj ET Q
BT /F4 9.00 Tf ET
BT /F4 5.85 Tf ET
q 0 0 0 rg BT 52.00 426.03 Td (1) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 54.92 421.95 Td ( ) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 56.92 421.95 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, 2019) 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 (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 534.83 114.40 Td (.) Tj ET Q
endstream
endobj
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<>
endobj
224 0 obj
<>
stream
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 (Fair value measurements for domestic pension plan assets were as follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 650.70 230.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 650.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.50 650.70 6.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.50 650.70 7.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
344.50 650.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
396.50 650.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.50 650.70 17.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.50 650.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
470.50 650.70 17.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
487.50 650.70 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.50 650.70 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
550.50 650.70 11.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 620.70 230.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 620.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.50 620.70 6.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.50 620.70 7.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
344.50 620.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
396.50 620.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.50 620.70 17.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.50 620.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
470.50 620.70 17.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
487.50 620.70 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.50 620.70 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
550.50 620.70 11.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 545.70 230.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 545.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.50 545.70 6.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.50 545.70 7.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
344.50 545.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
396.50 545.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.50 545.70 17.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.50 545.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
470.50 545.70 17.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
487.50 545.70 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.50 545.70 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
550.50 545.70 11.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 515.70 230.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 515.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
331.50 515.70 6.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
337.50 515.70 7.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
344.50 515.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
396.50 515.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
401.50 515.70 17.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
418.50 515.70 52.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
470.50 515.70 17.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
487.50 515.70 12.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.50 515.70 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
550.50 515.70 11.00 -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
49.5 717.7 m
279.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 680.7 m
279.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
279.5 717.7 m
331.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
279.5 680.7 m
331.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331.5 717.7 m
337.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331.5 680.7 m
337.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 717.7 m
344.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 680.7 m
344.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
344.5 717.7 m
396.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
344.5 680.7 m
396.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 717.7 m
401.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 680.7 m
401.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 717.7 m
418.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 680.7 m
418.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418.5 717.7 m
470.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418.5 680.7 m
470.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
470.5 717.7 m
487.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
470.5 680.7 m
487.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
487.5 717.7 m
499.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
487.5 680.7 m
499.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
499.5 717.7 m
550.5 717.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
499.5 680.7 m
550.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
550.5 717.7 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
550.5 680.7 m
561.5 680.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
344.5 605.7 m
396.5 605.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418.5 605.7 m
470.5 605.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
499.5 605.7 m
550.5 605.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 605.7 m
279.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 590.7 m
279.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
279.5 605.7 m
331.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
279.5 590.7 m
331.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331.5 605.7 m
337.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
331.5 590.7 m
337.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 605.7 m
344.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 590.7 m
344.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
344.5 605.7 m
396.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
344.5 590.7 m
396.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 605.7 m
401.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 590.7 m
401.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 605.7 m
418.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 590.7 m
418.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418.5 605.7 m
470.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
418.5 590.7 m
470.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
470.5 605.7 m
487.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
470.5 590.7 m
487.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
487.5 605.7 m
499.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
487.5 590.7 m
499.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
499.5 605.7 m
550.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
499.5 590.7 m
550.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
550.5 605.7 m
561.5 605.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
550.5 590.7 m
561.5 590.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 560.7 m
279.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
279.5 560.7 m
331.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331.5 560.7 m
337.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 560.7 m
344.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
344.5 560.7 m
396.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 560.7 m
401.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 560.7 m
418.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418.5 560.7 m
470.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
470.5 560.7 m
487.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
487.5 560.7 m
499.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
499.5 560.7 m
550.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
550.5 560.7 m
561.5 560.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 500.7 m
279.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
279.5 500.7 m
331.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331.5 500.7 m
337.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 500.7 m
344.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
344.5 500.7 m
396.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 500.7 m
401.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 500.7 m
418.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418.5 500.7 m
470.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
470.5 500.7 m
487.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
487.5 500.7 m
499.5 500.7 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
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0 j
3 M
499.5 500.7 m
550.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
550.5 500.7 m
561.5 500.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 500.7 m
279.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 485.7 m
279.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
279.5 500.7 m
331.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
279.5 485.7 m
331.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
331.5 500.7 m
337.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
331.5 485.7 m
337.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 500.7 m
344.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
337.5 485.7 m
344.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
344.5 500.7 m
396.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
344.5 485.7 m
396.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 500.7 m
401.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
396.5 485.7 m
401.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 500.7 m
418.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
401.5 485.7 m
418.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
418.5 500.7 m
470.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
418.5 485.7 m
470.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
470.5 500.7 m
487.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
470.5 485.7 m
487.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
487.5 500.7 m
499.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
487.5 485.7 m
499.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
499.5 500.7 m
550.5 500.7 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
499.5 485.7 m
550.5 485.7 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
550.5 500.7 m
561.5 500.7 l
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0 0 0 RG
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2.00 w
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[] 0 d
0 J
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550.5 485.7 m
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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 294.05 695.38 Td (T) Tj ET Q
q 0 0 0 rg BT 299.80 695.38 Td (otal ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 282.70 685.38 Td (Fair) Tj ET Q
q 0 0 0 rg BT 300.84 685.38 Td ( ) Tj ET Q
q 0 0 0 rg BT 303.16 685.38 Td (V) Tj ET Q
q 0 0 0 rg BT 309.47 685.38 Td (alue) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 353.15 705.38 Td (Quoted ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 355.95 695.38 Td (Prices ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 350.25 685.38 Td (\(Level 1\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 407.00 705.38 Td (Significant Other) Tj ET Q
q 0 0 0 rg BT 480.98 705.38 Td ( ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 404.40 695.38 Td (Observable Inputs ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 425.25 685.38 Td (\(Level 2\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 500.90 705.38 Td (Significant ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 494.55 695.38 Td (Unobservable ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 490.10 685.38 Td (Inputs \(Level 3\)) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 670.15 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 655.57 Td (Investments in registered investment companies) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 640.57 Td (Equity) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 94.50 640.57 Td (..................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.00 640.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.00 640.57 Td (91.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.00 640.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.00 640.57 Td (68.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.00 640.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 640.57 Td (23.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.00 640.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 640.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 625.57 Td (Fixed Income) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 625.57 Td (......................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.00 625.57 Td (43.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.30 625.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 625.57 Td (43.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 625.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 610.57 Td (Pooled separate accounts) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.25 610.57 Td (.........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.55 610.57 Td (0.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.30 610.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.55 610.57 Td (0.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 610.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 595.57 Td (T) Tj ET Q
q 0 0 0 rg BT 58.33 595.57 Td (otal assets at fair value) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.50 595.57 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.00 595.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.50 595.57 Td (135.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.00 595.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.00 595.57 Td (68.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.00 595.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 595.57 Td (67.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.00 595.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 595.57 Td (�) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 565.38 Td (June�30, 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 64.00 535.57 Td (Equity) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 94.50 535.57 Td (..................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.00 535.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.00 535.57 Td (97.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.00 535.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.00 535.57 Td (74.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.00 535.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 535.57 Td (23.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.00 535.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 535.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 520.57 Td (Fixed Income) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 520.57 Td (......................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.00 520.57 Td (40.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.30 520.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 520.57 Td (40.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 520.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 505.57 Td (Pooled separate accounts) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.25 505.57 Td (.........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.55 505.57 Td (1.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.30 505.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 452.55 505.57 Td (1.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 505.57 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 490.57 Td (T) Tj ET Q
q 0 0 0 rg BT 57.95 490.57 Td (otal assets at fair value) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.50 490.57 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.00 490.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.50 490.57 Td (139.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.00 490.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.00 490.57 Td (74.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.00 490.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 490.57 Td (65.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.00 490.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 490.57 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
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49.50 384.10 230.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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331.50 384.10 6.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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337.50 384.10 7.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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396.50 384.10 5.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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487.50 384.10 12.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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499.50 384.10 51.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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/GS0 gs
0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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279.50 356.10 52.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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487.50 356.10 12.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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499.50 356.10 51.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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550.50 356.10 11.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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49.50 328.10 230.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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279.50 328.10 52.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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331.50 328.10 6.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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337.50 328.10 7.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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344.50 328.10 52.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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396.50 328.10 5.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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401.50 328.10 17.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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418.50 328.10 52.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
470.50 328.10 17.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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487.50 328.10 12.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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499.50 328.10 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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550.50 328.10 11.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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49.50 300.10 230.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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279.50 300.10 52.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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331.50 300.10 6.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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337.50 300.10 7.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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344.50 300.10 52.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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396.50 300.10 5.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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401.50 300.10 17.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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550.50 300.10 11.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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49.50 258.10 230.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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279.50 258.10 52.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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331.50 258.10 6.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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337.50 258.10 7.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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344.50 258.10 52.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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418.50 258.10 52.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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550.50 258.10 11.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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337.50 230.10 7.00 -14.00 re f
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0.8 0.9333333333333333 1 rg
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/GS0 gs
0.8 0.9333333333333333 1 rg
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0.8 0.9333333333333333 1 rg
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/GS0 gs
0.8 0.9333333333333333 1 rg
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418.50 230.10 52.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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470.50 230.10 17.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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487.50 230.10 12.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
499.50 230.10 51.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
550.50 230.10 11.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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49.50 202.10 230.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
279.50 202.10 52.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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331.50 202.10 6.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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337.50 202.10 7.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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344.50 202.10 52.00 -14.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
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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 193.50 303.97 Td (..............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.30 303.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.30 303.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 455.30 303.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 303.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 289.97 Td (T) Tj ET Q
q 0 0 0 rg BT 58.33 289.97 Td (otal assets at fair value) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.50 289.97 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.00 289.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.50 289.97 Td (872.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.00 289.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 367.50 289.97 Td (1) Tj ET Q
q 0 0 0 rg BT 373.00 289.97 Td (19.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.00 289.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.50 289.97 Td (752.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.00 289.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 289.97 Td (�) Tj ET Q
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 168.75 247.97 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 308.00 247.97 Td (17.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.00 247.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 378.55 247.97 Td (5.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.00 247.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 247.97 Td (12.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.00 247.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 247.97 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 64.00 219.97 Td (Equity) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 94.50 219.97 Td (..................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.50 219.97 Td (155.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.30 219.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.50 219.97 Td (155.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 219.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 205.97 Td (Fixed Income) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 127.50 205.97 Td (......................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.50 205.97 Td (242.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.30 205.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.50 205.97 Td (242.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 205.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 64.00 191.97 Td (Other) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 91.75 191.97 Td (...................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.50 191.97 Td (415.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.30 191.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.50 191.97 Td (415.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 191.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 177.97 Td (Guaranteed investment contract) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 193.50 177.97 Td (..............................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.00 177.97 Td (1) Tj ET Q
q 0 0 0 rg BT 313.50 177.97 Td (1.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.30 177.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 447.00 177.97 Td (1) Tj ET Q
q 0 0 0 rg BT 452.50 177.97 Td (1.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 177.97 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 163.97 Td (T) Tj ET Q
q 0 0 0 rg BT 57.95 163.97 Td (otal assets at fair value) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.50 163.97 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.00 163.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 302.50 163.97 Td (841.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 347.00 163.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 378.55 163.97 Td (5.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 421.00 163.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.50 163.97 Td (836.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 502.00 163.97 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 535.30 163.97 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 134.20 Td (The international pension plans hold investments in liability matching funds whose objective is to provide ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 121.00 Td (leveraged returns equal to that of the liabilities. In order to do so, these funds invest in the respective UK ) Tj ET Q
q 0 0 0 rg BT 513.50 121.00 Td (T) Tj ET Q
q 0 0 0 rg BT 519.84 121.00 Td (reasury ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 121.31 107.80 Td (T) Tj ET Q
q 0 0 0 rg BT 127.26 107.80 Td (otal Return Swaps, Repurchase ) Tj ET Q
q 0 0 0 rg BT 267.28 107.80 Td (T) Tj ET Q
q 0 0 0 rg BT 273.61 107.80 Td (ransactions, and cash or money markets to provide liquidity to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.60 Td (meet payment obligations or post as collateral in the derivative transactions they enter into. ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 81.40 Td (funds are included in Other pooled investments in the table above.) Tj ET Q
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q 0 0 0 rg BT 303.28 31.60 Td (10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (The Company primarily utilizes the market approach for determining recurring fair value. ) Tj ET Q
q 0 0 0 rg BT 447.79 741.40 Td (The fair value of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (guaranteed investment contract has been determined based on the higher of the surrender value of the contract or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (the present value of the underlying bonds based on a discounted cash flow model. Refer to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 451.09 715.00 Td (Note�10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 486.22 715.00 Td ( for a discussion ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 Td (of the three levels in the hierarchy of fair values.) Tj ET Q
BT /F6 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 Td (Cash Flows) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 662.20 Td (Although the Company does not have a minimum funding requirement for the domestic pension plans in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (2020) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 649.00 Td (, the Company is currently determining what voluntary pension plan contributions, if any) Tj ET Q
q 0 0 0 rg BT 463.54 649.00 Td (, will be made in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 76.57 635.80 Td (2020) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.57 635.80 Td ( to the domestic plan. ) 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 470.32 622.60 Td ($0.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 524.10 622.60 Td ( to its ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (postretirement plan in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 175.85 609.40 Td (2020) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 197.85 609.40 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (Monthly contributions of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.36 583.00 Td (�0.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 217.14 583.00 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
q 0 0 0 rg BT 50.00 569.80 Td (2021, the IPC Plan has a funding deficit valuing its liabilities with a gilts plus ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 394.02 569.80 Td (50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 405.02 569.80 Td ( basis point \(bps\) discount rate, the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.60 Td (Company) Tj ET Q
q 0 0 0 rg BT 92.06 556.60 Td (, as the sponsor of the IPC Plan, will make a contribution equal to that funding deficit. In the event that on ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.40 Td (November�25, 2025, 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 50.00 530.20 Td (Company will make a contribution equal to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.99 530.20 Td (50 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 290.10 530.20 Td ( 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 50.00 517.00 Td (2026, 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 50.00 503.80 Td (a contribution equal to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 152.03 503.80 Td (50 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.15 503.80 Td ( of that funding deficit. In the event that on November�25, 2027, the IPC Plan has ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.60 Td (a funding deficit valuing its liabilities with a gilts flat discount rate, the Company will make a contribution equal to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (that funding deficit. Contributions shall cease to be payable from the date that the IPC Plan is confirmed to be fully ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (funded.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (The following benefit payments, which reflect expected future service as appropriate, are expected to be paid:) Tj ET Q
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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
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q 0 0 0 rg BT 101.55 662.40 Td (tax ) Tj ET Q
q 0 0 0 rg BT 117.54 662.40 Td (withholding ) Tj ET Q
q 0 0 0 rg BT 173.26 662.40 Td (on ) Tj ET Q
q 0 0 0 rg BT 186.82 662.40 Td (option ) Tj ET Q
q 0 0 0 rg BT 217.48 662.40 Td (exercises ) Tj ET Q
q 0 0 0 rg BT 260.35 662.40 Td (and ) Tj ET Q
q 0 0 0 rg BT 278.78 662.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 294.78 662.40 Td (vesting ) Tj ET Q
q 0 0 0 rg BT 329.11 662.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 340.82 662.40 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 384.30 662.40 Td (shares ) Tj ET Q
q 0 0 0 rg BT 414.34 662.40 Td (and ) Tj ET Q
q 0 0 0 rg BT 432.78 662.40 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 476.26 662.40 Td (stock ) Tj ET Q
q 0 0 0 rg BT 502.03 662.40 Td (units ) Tj ET Q
q 0 0 0 rg BT 525.98 662.40 Td (increase ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.20 Td (shares ) Tj ET Q
q 0 0 0 rg BT 80.65 649.20 Td (available ) Tj ET Q
q 0 0 0 rg BT 123.50 649.20 Td (for ) Tj ET Q
q 0 0 0 rg BT 139.48 649.20 Td (future ) Tj ET Q
q 0 0 0 rg BT 168.90 649.20 Td (awards. ) Tj ET Q
q 0 0 0 rg BT 205.74 649.20 Td (The ) Tj ET Q
q 0 0 0 rg BT 225.99 649.20 Td (plan ) Tj ET Q
q 0 0 0 rg BT 248.09 649.20 Td (is ) Tj ET Q
q 0 0 0 rg BT 258.58 649.20 Td (designed ) Tj ET Q
q 0 0 0 rg BT 300.84 649.20 Td (to ) Tj ET Q
q 0 0 0 rg BT 312.55 649.20 Td (provide ) Tj ET Q
q 0 0 0 rg BT 349.31 649.20 Td (an ) Tj ET Q
q 0 0 0 rg BT 362.85 649.20 Td (incentive ) Tj ET Q
q 0 0 0 rg BT 406.32 649.20 Td (to ) Tj ET Q
q 0 0 0 rg BT 418.04 649.20 Td (contribute ) Tj ET Q
q 0 0 0 rg BT 465.79 649.20 Td (to ) Tj ET Q
q 0 0 0 rg BT 477.50 649.20 Td (the ) Tj ET Q
q 0 0 0 rg BT 494.10 649.20 Td (achievement ) Tj ET Q
q 0 0 0 rg BT 552.83 649.20 Td (of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 636.00 Td (long-range ) Tj ET Q
q 0 0 0 rg BT 100.66 636.00 Td (corporate ) Tj ET Q
q 0 0 0 rg BT 145.21 636.00 Td (goals; ) Tj ET Q
q 0 0 0 rg BT 174.50 636.00 Td (provide ) Tj ET Q
q 0 0 0 rg BT 211.11 636.00 Td (flexibility ) Tj ET Q
q 0 0 0 rg BT 257.51 636.00 Td (in ) Tj ET Q
q 0 0 0 rg BT 269.08 636.00 Td (motivating, ) Tj ET Q
q 0 0 0 rg BT 322.51 636.00 Td (attracting, ) Tj ET Q
q 0 0 0 rg BT 369.81 636.00 Td (and ) Tj ET Q
q 0 0 0 rg BT 388.70 636.00 Td (retaining ) Tj ET Q
q 0 0 0 rg BT 430.81 636.00 Td (employees; ) Tj ET Q
q 0 0 0 rg BT 483.93 636.00 Td (and ) Tj ET Q
q 0 0 0 rg BT 502.82 636.00 Td (to ) Tj ET Q
q 0 0 0 rg BT 514.39 636.00 Td (align ) Tj ET Q
q 0 0 0 rg BT 539.40 636.00 Td (more ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.80 Td (closely ) Tj ET Q
q 0 0 0 rg BT 83.91 622.80 Td (the ) Tj ET Q
q 0 0 0 rg BT 100.10 622.80 Td (employees�) Tj ET Q
q 0 0 0 rg BT 149.98 622.80 Td ( ) Tj ET Q
q 0 0 0 rg BT 152.73 622.80 Td (interests ) Tj ET Q
q 0 0 0 rg BT 192.14 622.80 Td (with ) Tj ET Q
q 0 0 0 rg BT 214.45 622.80 Td (those ) Tj ET Q
q 0 0 0 rg BT 240.42 622.80 Td (of ) Tj ET Q
q 0 0 0 rg BT 252.33 622.80 Td (shareholders.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.78 596.40 Td (Company ) Tj ET Q
q 0 0 0 rg BT 115.23 596.40 Td (has ) Tj ET Q
q 0 0 0 rg BT 132.57 596.40 Td (awarded ) Tj ET Q
q 0 0 0 rg BT 172.50 596.40 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 216.10 596.40 Td (stock ) Tj ET Q
q 0 0 0 rg BT 241.99 596.40 Td (and ) Tj ET Q
q 0 0 0 rg BT 260.55 596.40 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 304.15 596.40 Td (stock ) Tj ET Q
q 0 0 0 rg BT 330.05 596.40 Td (units ) Tj ET Q
q 0 0 0 rg BT 354.12 596.40 Td (to ) Tj ET Q
q 0 0 0 rg BT 365.35 596.40 Td (eligible ) Tj ET Q
q 0 0 0 rg BT 401.01 596.40 Td (key ) Tj ET Q
q 0 0 0 rg BT 419.57 596.40 Td (employees ) Tj ET Q
q 0 0 0 rg BT 469.29 596.40 Td (and ) Tj ET Q
q 0 0 0 rg BT 487.85 596.40 Td (to ) Tj ET Q
q 0 0 0 rg BT 499.08 596.40 Td (non-employee ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.20 Td (directors ) Tj ET Q
q 0 0 0 rg BT 90.41 583.20 Td (under ) Tj ET Q
q 0 0 0 rg BT 117.38 583.20 Td (the ) Tj ET Q
q 0 0 0 rg BT 132.75 583.20 Td (plan. ) Tj ET Q
q 0 0 0 rg BT 156.36 583.20 Td (In ) Tj ET Q
q 0 0 0 rg BT 167.45 583.20 Td (addition, ) Tj ET Q
q 0 0 0 rg BT 208.18 583.20 Td (certain ) Tj ET Q
q 0 0 0 rg BT 240.03 583.20 Td (awards ) Tj ET Q
q 0 0 0 rg BT 273.11 583.20 Td (are ) Tj ET Q
q 0 0 0 rg BT 288.46 583.20 Td (granted ) Tj ET Q
q 0 0 0 rg BT 323.37 583.20 Td (based ) Tj ET Q
q 0 0 0 rg BT 350.35 583.20 Td (on ) Tj ET Q
q 0 0 0 rg BT 363.27 583.20 Td (specified ) Tj ET Q
q 0 0 0 rg BT 404.90 583.20 Td (levels ) Tj ET Q
q 0 0 0 rg BT 432.49 583.20 Td (of ) Tj ET Q
q 0 0 0 rg BT 443.58 583.20 Td (Company ) Tj ET Q
q 0 0 0 rg BT 488.28 583.20 Td (stock ) Tj ET Q
q 0 0 0 rg BT 513.43 583.20 Td (ownership. ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 570.00 Td (All ) Tj ET Q
q 0 0 0 rg BT 67.36 570.00 Td (awards ) Tj ET Q
q 0 0 0 rg BT 101.81 570.00 Td (have ) Tj ET Q
q 0 0 0 rg BT 125.87 570.00 Td (restriction ) Tj ET Q
q 0 0 0 rg BT 173.77 570.00 Td (periods ) Tj ET Q
q 0 0 0 rg BT 209.45 570.00 Td (tied ) Tj ET Q
q 0 0 0 rg BT 229.24 570.00 Td (primarily ) Tj ET Q
q 0 0 0 rg BT 273.47 570.00 Td (to ) Tj ET Q
q 0 0 0 rg BT 285.33 570.00 Td (employment ) Tj ET Q
q 0 0 0 rg BT 343.62 570.00 Td (and/or ) Tj ET Q
q 0 0 0 rg BT 375.02 570.00 Td (service. ) Tj ET Q
q 0 0 0 rg BT 411.98 570.00 Td (The ) Tj ET Q
q 0 0 0 rg BT 432.38 570.00 Td (awards ) Tj ET Q
q 0 0 0 rg BT 466.83 570.00 Td (granted ) Tj ET Q
q 0 0 0 rg BT 503.11 570.00 Td (to ) Tj ET Q
q 0 0 0 rg BT 514.97 570.00 Td (employees ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 556.80 Td (generally ) Tj ET Q
q 0 0 0 rg BT 94.40 556.80 Td (vest ) Tj ET Q
q 0 0 0 rg BT 115.60 556.80 Td (over ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.62 556.80 Td (3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.12 556.80 Td ( ) Tj ET Q
q 0 0 0 rg BT 147.60 556.80 Td (or ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.25 556.80 Td (5 ) Tj ET Q
q 0 0 0 rg BT 169.22 556.80 Td (years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 192.43 556.80 Td ( ) Tj ET Q
q 0 0 0 rg BT 195.91 556.80 Td (and ) Tj ET Q
q 0 0 0 rg BT 215.27 556.80 Td (the ) Tj ET Q
q 0 0 0 rg BT 232.19 556.80 Td (awards ) Tj ET Q
q 0 0 0 rg BT 266.82 556.80 Td (granted ) Tj ET Q
q 0 0 0 rg BT 303.28 556.80 Td (to ) Tj ET Q
q 0 0 0 rg BT 315.32 556.80 Td (directors ) Tj ET Q
q 0 0 0 rg BT 357.28 556.80 Td (vest ) Tj ET Q
q 0 0 0 rg BT 378.48 556.80 Td (one-third ) Tj ET Q
q 0 0 0 rg BT 422.28 556.80 Td (each ) Tj ET Q
q 0 0 0 rg BT 445.91 556.80 Td (year ) Tj ET Q
q 0 0 0 rg BT 468.31 556.80 Td (during ) Tj ET Q
q 0 0 0 rg BT 500.51 556.80 Td (the ) Tj ET Q
q 0 0 0 rg BT 517.43 556.80 Td (three-year ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 543.60 Td (period ) Tj ET Q
q 0 0 0 rg BT 80.45 543.60 Td (from ) Tj ET Q
q 0 0 0 rg BT 104.18 543.60 Td (date ) Tj ET Q
q 0 0 0 rg BT 124.85 543.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 136.36 543.60 Td (grant. ) Tj ET Q
q 0 0 0 rg BT 163.89 543.60 Td (The ) Tj ET Q
q 0 0 0 rg BT 183.34 543.60 Td (grant ) Tj ET Q
q 0 0 0 rg BT 208.29 543.60 Td (date ) Tj ET Q
q 0 0 0 rg BT 228.96 543.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 240.47 543.60 Td (awards ) Tj ET Q
q 0 0 0 rg BT 273.98 543.60 Td (is ) Tj ET Q
q 0 0 0 rg BT 283.66 543.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 299.45 543.60 Td (date ) Tj ET Q
q 0 0 0 rg BT 320.12 543.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 335.90 543.60 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 401.80 543.60 Td (Committee ) Tj ET Q
q 0 0 0 rg BT 453.03 543.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 464.55 543.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 480.33 543.60 Td (Board ) Tj ET Q
q 0 0 0 rg BT 509.56 543.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 521.08 543.60 Td (Directors ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 530.40 Td (approves ) Tj ET Q
q 0 0 0 rg BT 92.59 530.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 108.91 530.40 Td (granting ) Tj ET Q
q 0 0 0 rg BT 148.45 530.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 160.50 530.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 176.82 530.40 Td (awards. ) Tj ET Q
q 0 0 0 rg BT 213.39 530.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 233.37 530.40 Td (awards ) Tj ET Q
q 0 0 0 rg BT 267.41 530.40 Td (are ) Tj ET Q
q 0 0 0 rg BT 283.72 530.40 Td (recorded ) Tj ET Q
q 0 0 0 rg BT 325.07 530.40 Td (at ) Tj ET Q
q 0 0 0 rg BT 335.89 530.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 352.21 530.40 Td (market ) Tj ET Q
q 0 0 0 rg BT 385.64 530.40 Td (value ) Tj ET Q
q 0 0 0 rg BT 412.34 530.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 424.38 530.40 Td (traded ) Tj ET Q
q 0 0 0 rg BT 454.75 530.40 Td (shares ) Tj ET Q
q 0 0 0 rg BT 485.12 530.40 Td (on ) Tj ET Q
q 0 0 0 rg BT 499.00 530.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 515.32 530.40 Td (date ) Tj ET Q
q 0 0 0 rg BT 536.52 530.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 548.57 530.40 Td (the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.20 Td (grant ) Tj ET Q
q 0 0 0 rg BT 75.35 517.20 Td (as ) Tj ET Q
q 0 0 0 rg BT 87.26 517.20 Td (unearned ) Tj ET Q
q 0 0 0 rg BT 130.32 517.20 Td (compensation. ) Tj ET Q
q 0 0 0 rg BT 196.72 517.20 Td (The ) Tj ET Q
q 0 0 0 rg BT 216.57 517.20 Td (initial ) Tj ET Q
q 0 0 0 rg BT 244.99 517.20 Td (values ) Tj ET Q
q 0 0 0 rg BT 275.84 517.20 Td (of ) Tj ET Q
q 0 0 0 rg BT 287.75 517.20 Td (the ) Tj ET Q
q 0 0 0 rg BT 303.94 517.20 Td (grants ) Tj ET Q
q 0 0 0 rg BT 333.57 517.20 Td (are ) Tj ET Q
q 0 0 0 rg BT 349.75 517.20 Td (amortized ) Tj ET Q
q 0 0 0 rg BT 396.48 517.20 Td (over ) Tj ET Q
q 0 0 0 rg BT 418.77 517.20 Td (the ) Tj ET Q
q 0 0 0 rg BT 434.96 517.20 Td (vesting ) Tj ET Q
q 0 0 0 rg BT 469.49 517.20 Td (periods.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 490.80 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.85 490.80 Td (Company�) Tj ET Q
q 0 0 0 rg BT 115.68 490.80 Td (s ) Tj ET Q
q 0 0 0 rg BT 122.71 490.80 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 166.39 490.80 Td (stock ) Tj ET Q
q 0 0 0 rg BT 192.36 490.80 Td (activity ) Tj ET Q
q 0 0 0 rg BT 228.09 490.80 Td (during ) Tj ET Q
q 0 0 0 rg BT 259.56 490.80 Td (the ) Tj ET Q
q 0 0 0 rg BT 275.75 490.80 Td (year ) Tj ET Q
q 0 0 0 rg BT 297.43 490.80 Td (ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 326.44 490.80 Td (June�30, ) Tj ET Q
q 0 0 0 rg BT 365.86 490.80 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 387.86 490.80 Td (, ) Tj ET Q
q 0 0 0 rg BT 393.36 490.80 Td (was ) Tj ET Q
q 0 0 0 rg BT 413.21 490.80 Td (as ) Tj ET Q
q 0 0 0 rg BT 425.13 490.80 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
76.50 415.30 236.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.50 415.30 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
363.50 415.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.50 415.30 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.50 415.30 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
398.50 415.30 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
443.50 415.30 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
463.50 415.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
467.50 415.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
471.50 415.30 53.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
524.50 415.30 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
76.50 385.30 236.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
312.50 385.30 51.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
363.50 385.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.50 385.30 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
378.50 385.30 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
398.50 385.30 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
443.50 385.30 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
463.50 385.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
467.50 385.30 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
471.50 385.30 53.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
524.50 385.30 10.00 -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
76.5 470.3 m
312.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
76.5 430.3 m
312.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
312.5 470.3 m
363.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
312.5 430.3 m
363.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
363.5 470.3 m
368.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
363.5 430.3 m
368.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
368.5 470.3 m
378.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
368.5 430.3 m
378.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
378.5 470.3 m
398.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
378.5 430.3 m
398.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
398.5 470.3 m
443.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
398.5 430.3 m
443.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
443.5 470.3 m
463.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
443.5 430.3 m
463.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
463.5 470.3 m
467.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
463.5 430.3 m
467.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
467.5 470.3 m
471.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
467.5 430.3 m
471.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
471.5 470.3 m
524.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
471.5 430.3 m
524.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
524.5 470.3 m
534.5 470.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
524.5 430.3 m
534.5 430.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
76.5 370.3 m
312.5 370.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
312.5 370.3 m
363.5 370.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
363.5 370.3 m
368.5 370.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
76.5 355.3 m
312.5 355.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
312.5 355.3 m
363.5 355.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
363.5 370.3 m
368.5 370.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
363.5 355.3 m
368.5 355.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
368.5 355.3 m
378.5 355.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
378.5 355.3 m
398.5 355.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
398.5 355.3 m
443.5 355.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
443.5 355.3 m
463.5 355.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
463.5 355.3 m
467.5 355.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
467.5 355.3 m
471.5 355.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
471.5 355.3 m
524.5 355.3 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
524.5 355.3 m
534.5 355.3 l
s
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 79.00 434.98 Td (Restricted Stock) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 323.10 434.98 Td (Shar) Tj ET Q
q 0 0 0 rg BT 343.48 434.98 Td (es) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 381.85 458.98 Td (W) Tj ET Q
q 0 0 0 rg BT 391.30 458.98 Td (eighted ) Tj ET Q
q 0 0 0 rg BT 424.35 458.98 Td (A) Tj ET Q
q 0 0 0 rg BT 430.83 458.98 Td (verage ) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 396.20 446.98 Td (Grant Date) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 398.20 434.98 Td (Fair) Tj ET Q
q 0 0 0 rg BT 416.34 434.98 Td ( ) Tj ET Q
q 0 0 0 rg BT 418.66 434.98 Td (V) Tj ET Q
q 0 0 0 rg BT 424.97 434.98 Td (alue) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 478.65 458.98 Td (Aggr) Tj ET Q
q 0 0 0 rg BT 500.13 458.98 Td (egate) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 482.15 446.98 Td (Intrinsic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 488.45 434.98 Td (V) Tj ET Q
q 0 0 0 rg BT 494.75 434.98 Td (alue) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 79.00 419.75 Td (\(Shar) Tj ET Q
q 0 0 0 rg BT 98.67 419.75 Td (es in thousands and ) Tj ET Q
q 0 0 0 rg BT 172.01 419.75 Td (Aggr) Tj ET Q
q 0 0 0 rg BT 189.67 419.75 Td (egate Intrinsic V) Tj ET Q
q 0 0 0 rg BT 248.66 419.75 Td (alue in millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 79.00 405.17 Td (Nonvested at June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 201.75 405.17 Td (.......................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.00 405.17 Td (20.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 401.00 405.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.50 405.17 Td (48.94) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 79.00 390.17 Td (Granted) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.50 390.17 Td (......................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.00 390.17 Td (1) Tj ET Q
q 0 0 0 rg BT 345.50 390.17 Td (1.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.25 390.17 Td (58.76) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 79.00 375.17 Td (V) Tj ET Q
q 0 0 0 rg BT 86.33 375.17 Td (ested) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.00 375.17 Td (........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.35 375.17 Td (\(13.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 359.30 375.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.25 375.17 Td (48.02) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 79.00 360.17 Td (Nonvested at June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 201.75 360.17 Td (.......................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.00 360.17 Td (18.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.50 360.17 Td (55.72) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.00 360.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 506.55 360.17 Td (1.0) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 331.60 Td (As ) Tj ET Q
q 0 0 0 rg BT 64.85 331.60 Td (of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 76.64 331.60 Td (June�30, ) Tj ET Q
q 0 0 0 rg BT 115.93 331.60 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.93 331.60 Td (, ) Tj ET Q
q 0 0 0 rg BT 143.31 331.60 Td (there ) Tj ET Q
q 0 0 0 rg BT 167.92 331.60 Td (was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 187.66 331.60 Td (no) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 198.66 331.60 Td ( ) Tj ET Q
q 0 0 0 rg BT 201.29 331.60 Td (unearned ) Tj ET Q
q 0 0 0 rg BT 244.23 331.60 Td (compensation ) Tj ET Q
q 0 0 0 rg BT 307.95 331.60 Td (cost ) Tj ET Q
q 0 0 0 rg BT 328.30 331.60 Td (related ) Tj ET Q
q 0 0 0 rg BT 360.85 331.60 Td (to ) Tj ET Q
q 0 0 0 rg BT 372.03 331.60 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 415.58 331.60 Td (stock ) Tj ET Q
q 0 0 0 rg BT 441.43 331.60 Td (granted ) Tj ET Q
q 0 0 0 rg BT 477.04 331.60 Td (under ) Tj ET Q
q 0 0 0 rg BT 504.71 331.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 520.78 331.60 Td (plan. ) Tj ET Q
q 0 0 0 rg BT 544.91 331.60 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 318.40 Td (weighted ) Tj ET Q
q 0 0 0 rg BT 93.70 318.40 Td (average ) Tj ET Q
q 0 0 0 rg BT 131.28 318.40 Td (grant ) Tj ET Q
q 0 0 0 rg BT 157.27 318.40 Td (date ) Tj ET Q
q 0 0 0 rg BT 178.97 318.40 Td (fair ) Tj ET Q
q 0 0 0 rg BT 197.62 318.40 Td (value ) Tj ET Q
q 0 0 0 rg BT 224.82 318.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 237.37 318.40 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 281.68 318.40 Td (stock ) Tj ET Q
q 0 0 0 rg BT 308.28 318.40 Td (granted ) Tj ET Q
q 0 0 0 rg BT 344.65 318.40 Td (during ) Tj ET Q
q 0 0 0 rg BT 376.75 318.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 393.57 318.40 Td (years ) Tj ET Q
q 0 0 0 rg BT 420.17 318.40 Td (ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 449.81 318.40 Td (June�30, ) Tj ET Q
q 0 0 0 rg BT 489.86 318.40 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 511.86 318.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 517.99 318.40 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 539.99 318.40 Td (, ) Tj ET Q
q 0 0 0 rg BT 546.13 318.40 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 305.20 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 305.20 Td (, ) Tj ET Q
q 0 0 0 rg BT 76.50 305.20 Td (was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 95.35 305.20 Td ($58.76) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 125.60 305.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 130.09 305.20 Td ($52.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.34 305.20 Td (, ) Tj ET Q
q 0 0 0 rg BT 164.84 305.20 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 182.47 305.20 Td ($47.65) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 212.72 305.20 Td (, ) Tj ET Q
q 0 0 0 rg BT 217.21 305.20 Td (respectively) Tj ET Q
q 0 0 0 rg BT 269.64 305.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 274.01 305.20 Td (The ) Tj ET Q
q 0 0 0 rg BT 292.86 305.20 Td (total ) Tj ET Q
q 0 0 0 rg BT 314.15 305.20 Td (fair ) Tj ET Q
q 0 0 0 rg BT 331.16 305.20 Td (value ) Tj ET Q
q 0 0 0 rg BT 356.73 305.20 Td (of ) Tj ET Q
q 0 0 0 rg BT 367.64 305.20 Td (shares ) Tj ET Q
q 0 0 0 rg BT 396.87 305.20 Td (vested ) Tj ET Q
q 0 0 0 rg BT 426.72 305.20 Td (during ) Tj ET Q
q 0 0 0 rg BT 457.19 305.20 Td (the ) Tj ET Q
q 0 0 0 rg BT 472.37 305.20 Td (years ) Tj ET Q
q 0 0 0 rg BT 497.32 305.20 Td (ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 525.33 305.20 Td (June�30, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.00 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 292.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 77.50 292.00 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 99.50 292.00 Td (, ) Tj ET Q
q 0 0 0 rg BT 105.00 292.00 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 123.63 292.00 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 145.63 292.00 Td ( ) Tj ET Q
q 0 0 0 rg BT 148.38 292.00 Td (was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.24 292.00 Td ($0.8 ) Tj ET Q
q 0 0 0 rg BT 190.24 292.00 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 222.02 292.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 227.52 292.00 Td ($1.5 ) Tj ET Q
q 0 0 0 rg BT 249.52 292.00 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
281.30 299.63 24.13 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 281.30 292.00 Td (, ) Tj ET Q
q 0 0 0 rg BT 286.80 292.00 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
305.43 299.63 53.78 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 305.43 292.00 Td ($7.9 ) Tj ET Q
q 0 0 0 rg BT 327.43 292.00 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
359.21 299.63 60.68 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 359.21 292.00 Td (, ) Tj ET Q
q 0 0 0 rg BT 364.71 292.00 Td (respectively) Tj ET Q
q 0 0 0 rg BT 417.14 292.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
50.00 273.23 296.31 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 50.00 265.60 Td (The ) Tj ET Q
q 0 0 0 rg BT 69.85 265.60 Td (Company�) Tj ET Q
q 0 0 0 rg BT 115.68 265.60 Td (s ) Tj ET Q
q 0 0 0 rg BT 122.71 265.60 Td (restricted ) Tj ET Q
q 0 0 0 rg BT 166.39 265.60 Td (stock ) Tj ET Q
q 0 0 0 rg BT 192.36 265.60 Td (unit ) Tj ET Q
q 0 0 0 rg BT 212.22 265.60 Td (activity ) Tj ET Q
q 0 0 0 rg BT 247.96 265.60 Td (during ) Tj ET Q
q 0 0 0 rg BT 279.43 265.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 295.61 265.60 Td (year ) Tj ET Q
q 0 0 0 rg BT 317.29 265.60 Td (ended ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
346.31 273.23 61.41 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 346.31 265.60 Td (June�30, ) Tj ET Q
q 0 0 0 rg BT 385.72 265.60 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
407.72 273.23 73.33 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 407.72 265.60 Td (, ) Tj ET Q
q 0 0 0 rg BT 413.22 265.60 Td (was ) Tj ET Q
q 0 0 0 rg BT 433.08 265.60 Td (as ) Tj ET Q
q 0 0 0 rg BT 444.99 265.60 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
75.50 186.90 230.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.50 186.90 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
355.50 186.90 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
360.50 186.90 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.50 186.90 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
390.50 186.90 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.50 186.90 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
455.50 186.90 16.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
471.50 186.90 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
475.50 186.90 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
530.50 186.90 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
75.50 156.90 230.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.50 156.90 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
355.50 156.90 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
360.50 156.90 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.50 156.90 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
390.50 156.90 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.50 156.90 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
455.50 156.90 16.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
471.50 156.90 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
475.50 156.90 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
530.50 156.90 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
75.50 126.90 230.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
305.50 126.90 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
355.50 126.90 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
360.50 126.90 10.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
370.50 126.90 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
390.50 126.90 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
435.50 126.90 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
455.50 126.90 16.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
471.50 126.90 4.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
475.50 126.90 55.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
530.50 126.90 5.00 -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
75.5 241.89999999999998 m
305.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
75.5 201.89999999999998 m
305.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305.5 241.89999999999998 m
355.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305.5 201.89999999999998 m
355.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355.5 241.89999999999998 m
360.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355.5 201.89999999999998 m
360.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
360.5 241.89999999999998 m
370.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
360.5 201.89999999999998 m
370.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
370.5 241.89999999999998 m
390.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
370.5 201.89999999999998 m
390.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
390.5 241.89999999999998 m
435.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
390.5 201.89999999999998 m
435.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
435.5 241.89999999999998 m
455.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
435.5 201.89999999999998 m
455.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
455.5 241.89999999999998 m
471.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
455.5 201.89999999999998 m
471.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
471.5 241.89999999999998 m
475.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
471.5 201.89999999999998 m
475.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
475.5 241.89999999999998 m
530.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
475.5 201.89999999999998 m
530.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
530.5 241.89999999999998 m
535.5 241.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
530.5 201.89999999999998 m
535.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
75.5 201.89999999999998 m
305.5 201.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
75.5 126.89999999999998 m
305.5 126.89999999999998 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
75.5 111.89999999999998 m
305.5 111.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
305.5 126.89999999999998 m
355.5 126.89999999999998 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
305.5 111.89999999999998 m
355.5 111.89999999999998 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
355.5 126.89999999999998 m
360.5 126.89999999999998 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
355.5 111.89999999999998 m
360.5 111.89999999999998 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
360.5 111.89999999999998 m
370.5 111.89999999999998 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
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q 0 0 0 rg BT 335.13 662.20 Td (be ) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 459.33 649.00 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 520.74 649.00 Td (:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
79.50 567.30 235.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
314.50 567.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
364.50 567.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
369.50 567.30 23.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
392.50 567.30 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
437.50 567.30 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
457.50 567.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
462.50 567.30 6.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.50 567.30 58.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
526.50 567.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
79.50 537.30 235.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
314.50 537.30 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
364.50 537.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
369.50 537.30 23.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
392.50 537.30 45.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
/GS0 gs
437.50 537.30 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
457.50 537.30 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
462.50 537.30 6.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
468.50 537.30 58.00 -15.00 re f
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0.8 0.9333333333333333 1 rg
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526.50 537.30 5.00 -15.00 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
79.5 625.3 m
314.5 625.3 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
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3 M
79.5 582.3 m
314.5 582.3 l
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0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
314.5 625.3 m
364.5 625.3 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
314.5 582.3 m
364.5 582.3 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
364.5 625.3 m
369.5 625.3 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
364.5 582.3 m
369.5 582.3 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
369.5 625.3 m
392.5 625.3 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
369.5 582.3 m
392.5 582.3 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
392.5 625.3 m
437.5 625.3 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
392.5 582.3 m
437.5 582.3 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
437.5 625.3 m
457.5 625.3 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
437.5 582.3 m
457.5 582.3 l
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0 0 0 RG
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1.00 w
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3 M
457.5 625.3 m
462.5 625.3 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
457.5 582.3 m
462.5 582.3 l
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0 0 0 RG
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1.00 w
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[] 0 d
0 J
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3 M
462.5 625.3 m
468.5 625.3 l
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0 0 0 RG
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[] 0 d
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3 M
462.5 582.3 m
468.5 582.3 l
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0 0 0 RG
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3 M
468.5 625.3 m
526.5 625.3 l
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3 M
468.5 582.3 m
526.5 582.3 l
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3 M
526.5 625.3 m
531.5 625.3 l
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3 M
526.5 582.3 m
531.5 582.3 l
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3 M
79.5 522.3 m
314.5 522.3 l
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314.5 522.3 m
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314.5 507.3 m
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364.5 522.3 m
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392.5 507.3 m
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457.5 507.3 m
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462.5 507.3 m
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468.5 507.3 m
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 82.00 586.98 Td (Stock Equivalent Units) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 327.60 586.98 Td (Units) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 374.35 610.98 Td (W) Tj ET Q
q 0 0 0 rg BT 383.80 610.98 Td (eighted ) Tj ET Q
q 0 0 0 rg BT 416.85 610.98 Td (A) Tj ET Q
q 0 0 0 rg BT 423.33 610.98 Td (verage) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 390.90 598.98 Td (Issue Date) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 390.70 586.98 Td (Fair) Tj ET Q
q 0 0 0 rg BT 408.84 586.98 Td ( ) Tj ET Q
q 0 0 0 rg BT 411.16 586.98 Td (V) Tj ET Q
q 0 0 0 rg BT 417.47 586.98 Td (alue) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 474.65 606.98 Td (Aggr) Tj ET Q
q 0 0 0 rg BT 496.13 606.98 Td (egate) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 478.15 596.98 Td (Intrinsic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 484.45 586.98 Td (V) Tj ET Q
q 0 0 0 rg BT 490.75 586.98 Td (alue) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 82.00 572.65 Td (\(Units in thousands and ) Tj ET Q
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q 0 0 0 rg BT 188.01 572.65 Td (egate Intrinsic V) Tj ET Q
q 0 0 0 rg BT 247.00 572.65 Td (alue in millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.00 557.17 Td (Balance at June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 192.75 557.17 Td (...........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 335.50 557.17 Td (319.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 395.00 557.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.50 557.17 Td (38.92) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.00 542.17 Td (Additions) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 126.75 542.17 Td (...................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 341.00 542.17 Td (15.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.50 542.17 Td (54.84) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.00 527.17 Td (Converted to common stock) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.50 527.17 Td (......................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 337.35 527.17 Td (\(92.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 360.30 527.17 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.50 527.17 Td (38.92) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 82.00 512.17 Td (Balance at June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 192.75 512.17 Td (...........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 335.50 512.17 Td (242.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.50 512.17 Td (39.92) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 471.00 512.17 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 508.55 512.17 Td (3.7) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 481.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 70.31 481.40 Td (total ) Tj ET Q
q 0 0 0 rg BT 93.07 481.40 Td (intrinsic ) Tj ET Q
q 0 0 0 rg BT 132.33 481.40 Td (value ) Tj ET Q
q 0 0 0 rg BT 159.36 481.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 171.73 481.40 Td (stock ) Tj ET Q
q 0 0 0 rg BT 198.15 481.40 Td (equivalent ) Tj ET Q
q 0 0 0 rg BT 247.18 481.40 Td (units ) Tj ET Q
q 0 0 0 rg BT 271.78 481.40 Td (converted ) Tj ET Q
q 0 0 0 rg BT 318.35 481.40 Td (to ) Tj ET Q
q 0 0 0 rg BT 330.12 481.40 Td (common ) Tj ET Q
q 0 0 0 rg BT 371.82 481.40 Td (stock ) Tj ET Q
q 0 0 0 rg BT 398.25 481.40 Td (was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 418.56 481.40 Td ($1.7 ) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 472.80 481.40 Td ( ) Tj ET Q
q 0 0 0 rg BT 476.01 481.40 Td (in ) Tj ET Q
q 0 0 0 rg BT 487.77 481.40 Td (fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.80 481.40 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 536.80 481.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 542.76 481.40 Td ($0.1 ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 468.20 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 81.78 468.20 Td ( ) Tj ET Q
q 0 0 0 rg BT 84.53 468.20 Td (in ) Tj ET Q
q 0 0 0 rg BT 95.84 468.20 Td (fiscal ) 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 144.41 468.20 Td (, ) Tj ET Q
q 0 0 0 rg BT 149.91 468.20 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 190.54 468.20 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 267.22 468.20 Td (year ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 288.90 468.20 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.90 468.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 441.80 Td (Meredith ) Tj ET Q
q 0 0 0 rg BT 93.01 441.80 Td (has ) Tj ET Q
q 0 0 0 rg BT 110.37 441.80 Td (granted ) Tj ET Q
q 0 0 0 rg BT 146.05 441.80 Td (nonqualified ) Tj ET Q
q 0 0 0 rg BT 204.34 441.80 Td (stock ) Tj ET Q
q 0 0 0 rg BT 230.25 441.80 Td (options ) Tj ET Q
q 0 0 0 rg BT 265.34 441.80 Td (to ) Tj ET Q
q 0 0 0 rg BT 276.59 441.80 Td (certain ) Tj ET Q
q 0 0 0 rg BT 309.21 441.80 Td (employees ) Tj ET Q
q 0 0 0 rg BT 358.94 441.80 Td (and ) Tj ET Q
q 0 0 0 rg BT 377.52 441.80 Td (directors ) Tj ET Q
q 0 0 0 rg BT 418.69 441.80 Td (under ) Tj ET Q
q 0 0 0 rg BT 446.43 441.80 Td (the ) Tj ET Q
q 0 0 0 rg BT 462.56 441.80 Td (plan. ) Tj ET Q
q 0 0 0 rg BT 486.75 441.80 Td (The ) Tj ET Q
q 0 0 0 rg BT 506.55 441.80 Td (grant ) Tj ET Q
q 0 0 0 rg BT 531.84 441.80 Td (date ) Tj ET Q
q 0 0 0 rg BT 552.86 441.80 Td (of ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 124.36 428.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 140.18 428.60 Td (date ) Tj ET Q
q 0 0 0 rg BT 160.87 428.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 176.69 428.60 Td (Compensation ) Tj ET Q
q 0 0 0 rg BT 242.62 428.60 Td (Committee ) Tj ET Q
q 0 0 0 rg BT 293.88 428.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 305.42 428.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 321.23 428.60 Td (Board ) Tj ET Q
q 0 0 0 rg BT 350.49 428.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 362.03 428.60 Td (Directors ) Tj ET Q
q 0 0 0 rg BT 405.34 428.60 Td (approves ) Tj ET Q
q 0 0 0 rg BT 447.42 428.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 463.24 428.60 Td (granting ) Tj ET Q
q 0 0 0 rg BT 502.27 428.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 513.81 428.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 529.63 428.60 Td (options ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 90.62 415.40 Td (thereafter ) Tj ET Q
q 0 0 0 rg BT 135.50 415.40 Td (as ) Tj ET Q
q 0 0 0 rg BT 147.41 415.40 Td (specified ) Tj ET Q
q 0 0 0 rg BT 189.86 415.40 Td (by ) Tj ET Q
q 0 0 0 rg BT 203.61 415.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 219.80 415.40 Td (Committee. ) Tj ET Q
q 0 0 0 rg BT 273.99 415.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 293.84 415.40 Td (exercise ) Tj ET Q
q 0 0 0 rg BT 332.62 415.40 Td (price ) Tj ET Q
q 0 0 0 rg BT 357.35 415.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 369.26 415.40 Td (options ) Tj ET Q
q 0 0 0 rg BT 404.41 415.40 Td (granted ) Tj ET Q
q 0 0 0 rg BT 440.14 415.40 Td (is ) Tj ET Q
q 0 0 0 rg BT 450.23 415.40 Td (set ) Tj ET Q
q 0 0 0 rg BT 465.20 415.40 Td (at ) Tj ET Q
q 0 0 0 rg BT 475.88 415.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 492.07 415.40 Td (fair ) Tj ET Q
q 0 0 0 rg BT 510.09 415.40 Td (value ) Tj ET Q
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q 0 0 0 rg BT 548.57 415.40 Td (the ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 198.78 402.20 Td (grant ) Tj ET Q
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q 0 0 0 rg BT 298.36 402.20 Td (granted ) Tj ET Q
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q 0 0 0 rg BT 428.77 402.20 Td (at ) Tj ET Q
q 0 0 0 rg BT 439.21 402.20 Td (the ) 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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q 0 0 0 rg BT 475.61 389.00 Td (one-third ) Tj ET Q
q 0 0 0 rg BT 519.44 389.00 Td (each ) 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 60.09 349.40 Td (summary ) Tj ET Q
q 0 0 0 rg BT 103.78 349.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 115.69 349.40 Td (stock ) Tj ET Q
q 0 0 0 rg BT 141.66 349.40 Td (option ) Tj ET Q
q 0 0 0 rg BT 172.52 349.40 Td (activity ) Tj ET Q
q 0 0 0 rg BT 208.26 349.40 Td (and ) Tj ET Q
q 0 0 0 rg BT 226.89 349.40 Td (weighted ) Tj ET Q
q 0 0 0 rg BT 269.96 349.40 Td (average ) Tj ET Q
q 0 0 0 rg BT 306.90 349.40 Td (exercise ) Tj ET Q
q 0 0 0 rg BT 345.68 349.40 Td (prices ) Tj ET Q
q 0 0 0 rg BT 374.70 349.40 Td (follows:) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
53.00 245.70 240.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
293.00 245.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 245.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 245.70 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 245.70 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
413.00 245.70 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
433.00 245.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 245.70 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 245.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 245.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
553.00 245.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
53.00 215.70 240.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
293.00 215.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 215.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 215.70 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 215.70 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
413.00 215.70 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
433.00 215.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 215.70 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 215.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 215.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
553.00 215.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
53.00 185.70 240.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
293.00 185.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
343.00 185.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
348.00 185.70 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
368.00 185.70 45.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
413.00 185.70 20.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
433.00 185.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
438.00 185.70 60.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
498.00 185.70 5.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
503.00 185.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
553.00 185.70 5.00 -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
53 325.70000000000005 m
293 325.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
53 260.70000000000005 m
293 260.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
293 325.70000000000005 m
343 325.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
293 260.70000000000005 m
343 260.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
343 325.70000000000005 m
348 325.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
343 260.70000000000005 m
348 260.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 325.70000000000005 m
368 325.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 260.70000000000005 m
368 260.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
368 325.70000000000005 m
413 325.70000000000005 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
368 260.70000000000005 m
413 260.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
413 325.70000000000005 m
433 325.70000000000005 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
413 260.70000000000005 m
433 260.70000000000005 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
433 325.70000000000005 m
438 325.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
433 260.70000000000005 m
438 260.70000000000005 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 325.70000000000005 m
498 325.70000000000005 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
438 260.70000000000005 m
498 260.70000000000005 l
s
0 0 0 RG
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1.00 w
0 i
[] 0 d
0 J
0 j
3 M
498 325.70000000000005 m
503 325.70000000000005 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
498 260.70000000000005 m
503 260.70000000000005 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
503 325.70000000000005 m
553 325.70000000000005 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
503 260.70000000000005 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
553 325.70000000000005 m
558 325.70000000000005 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
553 260.70000000000005 m
558 260.70000000000005 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
53 185.70000000000005 m
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0 0 0 RG
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0 i
[] 0 d
0 J
0 j
3 M
53 185.70000000000005 m
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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
53 170.70000000000005 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
293 185.70000000000005 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
343 185.70000000000005 m
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0 0 0 RG
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2.00 w
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[] 0 d
0 J
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3 M
343 170.70000000000005 m
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0 0 0 RG
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2.00 w
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[] 0 d
0 J
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3 M
348 170.70000000000005 m
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0 0 0 RG
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2.00 w
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[] 0 d
0 J
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3 M
368 170.70000000000005 m
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0 0 0 RG
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2.00 w
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[] 0 d
0 J
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3 M
413 170.70000000000005 m
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[] 0 d
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3 M
433 170.70000000000005 m
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[] 0 d
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3 M
498 170.70000000000005 m
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3 M
553 170.70000000000005 m
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293 170.70000000000005 m
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343 155.70000000000005 m
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413 155.70000000000005 m
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433 155.70000000000005 m
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[] 0 d
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3 M
438 170.70000000000005 m
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3 M
438 155.70000000000005 m
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3 M
498 155.70000000000005 m
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3 M
503 170.70000000000005 m
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503 155.70000000000005 m
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 55.50 265.38 Td (Stock Options) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 300.50 265.38 Td (Options) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 369.70 301.38 Td (W) Tj ET Q
q 0 0 0 rg BT 379.15 301.38 Td (eighted) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 372.60 289.38 Td (A) Tj ET Q
q 0 0 0 rg BT 379.08 289.38 Td (verage) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 372.00 277.38 Td (Exer) Tj ET Q
q 0 0 0 rg BT 392.37 277.38 Td (cise) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 378.85 265.38 Td (Price) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 447.20 313.38 Td (W) Tj ET Q
q 0 0 0 rg BT 456.65 313.38 Td (eighted) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 450.10 301.38 Td (A) Tj ET Q
q 0 0 0 rg BT 456.58 301.38 Td (verage) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 444.15 289.38 Td (Remaining) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 441.65 277.38 Td (Contractual) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 456.00 265.38 Td (T) Tj ET Q
q 0 0 0 rg BT 461.75 265.38 Td (erm) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 508.15 289.38 Td (Aggr) Tj ET Q
q 0 0 0 rg BT 529.63 289.38 Td (egate) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 511.65 277.38 Td (Intrinsic) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 517.95 265.38 Td (V) Tj ET Q
q 0 0 0 rg BT 524.25 265.38 Td (alue) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 55.50 250.15 Td (\(Options in thousands and ) Tj ET Q
q 0 0 0 rg BT 152.84 250.15 Td (Aggr) Tj ET Q
q 0 0 0 rg BT 170.51 250.15 Td (egate Intrinsic V) Tj ET Q
q 0 0 0 rg BT 229.50 250.15 Td (alue in millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 235.57 Td (Outstanding July�1, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.50 235.57 Td (............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.75 235.57 Td (2,421.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.50 235.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.00 235.57 Td (50.56) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 220.57 Td (Granted) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 91.50 220.57 Td (........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 314.00 220.57 Td (674.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.00 220.57 Td (52.85) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 205.57 Td (Exercised) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 99.75 205.57 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.35 205.57 Td (\(109.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.80 205.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.00 205.57 Td (40.13) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 190.57 Td (Forfeited) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 97.00 190.57 Td (......................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 310.35 190.57 Td (\(180.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.80 190.57 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.00 190.57 Td (52.29) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 175.57 Td (Outstanding June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 174.00 175.57 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.75 175.57 Td (2,804.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.00 175.57 Td (51.40) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.75 175.57 Td (7.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.50 175.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 529.50 175.57 Td (12.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 55.50 160.57 Td (Exercisable June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 171.25 160.57 Td (...........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 305.75 160.57 Td (1,418.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 370.50 160.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.00 160.57 Td (48.25) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.75 160.57 Td (6.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.50 160.57 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 529.50 160.57 Td (10.4) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 129.80 Td (The ) Tj ET Q
q 0 0 0 rg BT 70.06 129.80 Td (fair ) Tj ET Q
q 0 0 0 rg BT 88.28 129.80 Td (value ) Tj ET Q
q 0 0 0 rg BT 115.06 129.80 Td (of ) Tj ET Q
q 0 0 0 rg BT 127.18 129.80 Td (each ) Tj ET Q
q 0 0 0 rg BT 150.28 129.80 Td (option ) Tj ET Q
q 0 0 0 rg BT 181.35 129.80 Td (is ) Tj ET Q
q 0 0 0 rg BT 191.65 129.80 Td (estimated ) Tj ET Q
q 0 0 0 rg BT 236.75 129.80 Td (as ) Tj ET Q
q 0 0 0 rg BT 248.88 129.80 Td (of ) Tj ET Q
q 0 0 0 rg BT 261.00 129.80 Td (the ) Tj ET Q
q 0 0 0 rg BT 277.39 129.80 Td (date ) Tj ET Q
q 0 0 0 rg BT 298.67 129.80 Td (of ) Tj ET Q
q 0 0 0 rg BT 310.79 129.80 Td (grant ) Tj ET Q
q 0 0 0 rg BT 336.35 129.80 Td (using ) Tj ET Q
q 0 0 0 rg BT 363.14 129.80 Td (the ) Tj ET Q
q 0 0 0 rg BT 379.54 129.80 Td (Black-Scholes ) Tj ET Q
q 0 0 0 rg BT 446.03 129.80 Td (option-pricing ) Tj ET Q
q 0 0 0 rg BT 511.92 129.80 Td (model. ) Tj ET Q
q 0 0 0 rg BT 544.91 129.80 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 116.60 Td (expected ) Tj ET Q
q 0 0 0 rg BT 90.98 116.60 Td (volatility ) Tj ET Q
q 0 0 0 rg BT 132.60 116.60 Td (was ) Tj ET Q
q 0 0 0 rg BT 151.60 116.60 Td (based ) Tj ET Q
q 0 0 0 rg BT 178.54 116.60 Td (on ) Tj ET Q
q 0 0 0 rg BT 191.44 116.60 Td (historical ) Tj ET Q
q 0 0 0 rg BT 234.27 116.60 Td (volatility ) Tj ET Q
q 0 0 0 rg BT 275.88 116.60 Td (of ) Tj ET Q
q 0 0 0 rg BT 286.94 116.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 302.27 116.60 Td (Company�) Tj ET Q
q 0 0 0 rg BT 348.11 116.60 Td (s ) Tj ET Q
q 0 0 0 rg BT 354.28 116.60 Td (common ) Tj ET Q
q 0 0 0 rg BT 394.67 116.60 Td (stock, ) Tj ET Q
q 0 0 0 rg BT 422.54 116.60 Td (Meredith�) Tj ET Q
q 0 0 0 rg BT 465.92 116.60 Td (s ) Tj ET Q
q 0 0 0 rg BT 472.09 116.60 Td (new ) Tj ET Q
q 0 0 0 rg BT 492.31 116.60 Td (capital ) Tj ET Q
q 0 0 0 rg BT 523.53 116.60 Td (structure ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 103.40 Td (\(for ) Tj ET Q
q 0 0 0 rg BT 69.85 103.40 Td (options ) Tj ET Q
q 0 0 0 rg BT 105.60 103.40 Td (granted ) Tj ET Q
q 0 0 0 rg BT 141.95 103.40 Td (on ) Tj ET Q
q 0 0 0 rg BT 156.31 103.40 Td (or ) Tj ET Q
q 0 0 0 rg BT 168.83 103.40 Td (subsequent ) Tj ET Q
q 0 0 0 rg BT 221.07 103.40 Td (to ) Tj ET Q
q 0 0 0 rg BT 232.99 103.40 Td (January�31, ) Tj ET Q
q 0 0 0 rg BT 287.06 103.40 Td (2018\), ) Tj ET Q
q 0 0 0 rg BT 318.83 103.40 Td (and ) Tj ET Q
q 0 0 0 rg BT 338.07 103.40 Td (other ) Tj ET Q
q 0 0 0 rg BT 364.03 103.40 Td (factors. ) Tj ET Q
q 0 0 0 rg BT 399.83 103.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 420.29 103.40 Td (expected ) Tj ET Q
q 0 0 0 rg BT 462.73 103.40 Td (life ) Tj ET Q
q 0 0 0 rg BT 480.75 103.40 Td (of ) Tj ET Q
q 0 0 0 rg BT 493.27 103.40 Td (options ) Tj ET Q
q 0 0 0 rg BT 529.03 103.40 Td (granted ) Tj ET Q
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q 0 0 0 rg BT 473.29 578.20 Td (This ) Tj ET Q
q 0 0 0 rg BT 494.52 578.20 Td (cost ) Tj ET Q
q 0 0 0 rg BT 513.91 578.20 Td (is ) Tj ET Q
q 0 0 0 rg BT 522.92 578.20 Td (expected ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 565.00 Td (to ) Tj ET Q
q 0 0 0 rg BT 61.31 565.00 Td (be ) Tj ET Q
q 0 0 0 rg BT 74.44 565.00 Td (recognized ) Tj ET Q
q 0 0 0 rg BT 125.44 565.00 Td (over ) Tj ET Q
q 0 0 0 rg BT 147.73 565.00 Td (a ) Tj ET Q
q 0 0 0 rg BT 155.36 565.00 Td (weighted ) Tj ET Q
q 0 0 0 rg BT 198.44 565.00 Td (average ) Tj ET Q
q 0 0 0 rg BT 235.38 565.00 Td (period ) Tj ET Q
q 0 0 0 rg BT 266.23 565.00 Td (of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 278.14 565.00 Td (1.5 ) Tj ET Q
q 0 0 0 rg BT 294.64 565.00 Td (years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.85 565.00 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 538.60 Td (Cash ) Tj ET Q
q 0 0 0 rg BT 75.25 538.60 Td (received ) Tj ET Q
q 0 0 0 rg BT 115.75 538.60 Td (from ) Tj ET Q
q 0 0 0 rg BT 140.38 538.60 Td (option ) Tj ET Q
q 0 0 0 rg BT 171.74 538.60 Td (exercises ) Tj ET Q
q 0 0 0 rg BT 215.30 538.60 Td (under ) Tj ET Q
q 0 0 0 rg BT 243.60 538.60 Td (all ) Tj ET Q
q 0 0 0 rg BT 257.84 538.60 Td (share-based ) Tj ET Q
q 0 0 0 rg BT 313.01 538.60 Td (payment ) Tj ET Q
q 0 0 0 rg BT 354.13 538.60 Td (plans ) Tj ET Q
q 0 0 0 rg BT 380.60 538.60 Td (for ) Tj ET Q
q 0 0 0 rg BT 396.68 538.60 Td (the ) Tj ET Q
q 0 0 0 rg BT 413.37 538.60 Td (years ) Tj ET Q
q 0 0 0 rg BT 439.82 538.60 Td (ended ) Tj ET Q
BT /F2 11.00 Tf ET
1 1 1 rg
/GS0 gs
469.34 546.23 61.91 -10.00 re f
/GS0 gs
q 0 0 0 rg BT 469.34 538.60 Td (June�30, ) Tj ET Q
q 0 0 0 rg BT 509.25 538.60 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.25 538.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 537.25 538.60 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 559.25 538.60 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 68.77 525.40 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 90.77 525.40 Td ( ) Tj ET Q
q 0 0 0 rg BT 93.66 525.40 Td (was ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 113.65 525.40 Td ($4.4 ) Tj ET Q
q 0 0 0 rg BT 135.79 525.40 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 167.57 525.40 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 173.21 525.40 Td ($19.1 ) Tj ET Q
q 0 0 0 rg BT 200.84 525.40 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 232.62 525.40 Td (, ) Tj ET Q
q 0 0 0 rg BT 238.26 525.40 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 257.03 525.40 Td ($37.9 ) Tj ET Q
q 0 0 0 rg BT 284.67 525.40 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.45 525.40 Td (, ) Tj ET Q
q 0 0 0 rg BT 322.09 525.40 Td (respectively) Tj ET Q
q 0 0 0 rg BT 374.51 525.40 Td (. ) Tj ET Q
q 0 0 0 rg BT 379.94 525.40 Td (The ) Tj ET Q
q 0 0 0 rg BT 399.93 525.40 Td (actual ) Tj ET Q
q 0 0 0 rg BT 429.08 525.40 Td (tax ) Tj ET Q
q 0 0 0 rg BT 445.40 525.40 Td (benefit ) Tj ET Q
q 0 0 0 rg BT 478.83 525.40 Td (realized ) Tj ET Q
q 0 0 0 rg BT 516.52 525.40 Td (for ) Tj ET Q
q 0 0 0 rg BT 532.23 525.40 Td (the ) Tj ET Q
q 0 0 0 rg BT 548.56 525.40 Td (tax ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 512.20 Td (deductions ) Tj ET Q
q 0 0 0 rg BT 99.97 512.20 Td (from ) Tj ET Q
q 0 0 0 rg BT 123.66 512.20 Td (option ) Tj ET Q
q 0 0 0 rg BT 154.08 512.20 Td (exercises ) Tj ET Q
q 0 0 0 rg BT 196.69 512.20 Td (totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 228.94 512.20 Td ($0.4 ) Tj ET Q
q 0 0 0 rg BT 250.49 512.20 Td (million) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 282.27 512.20 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 286.87 512.20 Td ($2.7 ) Tj ET Q
q 0 0 0 rg BT 308.43 512.20 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 340.21 512.20 Td (, ) Tj ET Q
q 0 0 0 rg BT 345.27 512.20 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 363.46 512.20 Td ($5.9 ) Tj ET Q
q 0 0 0 rg BT 385.02 512.20 Td (million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.80 512.20 Td (, ) Tj ET Q
q 0 0 0 rg BT 421.86 512.20 Td (respectively) Tj ET Q
q 0 0 0 rg BT 474.29 512.20 Td (, ) Tj ET Q
q 0 0 0 rg BT 479.34 512.20 Td (for ) Tj ET Q
q 0 0 0 rg BT 494.48 512.20 Td (the ) Tj ET Q
q 0 0 0 rg BT 510.22 512.20 Td (years ) Tj ET Q
q 0 0 0 rg BT 535.74 512.20 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 50.00 499.00 Td (June�30, ) Tj ET Q
q 0 0 0 rg BT 89.41 499.00 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 499.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.91 499.00 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 138.91 499.00 Td (, ) Tj ET Q
q 0 0 0 rg BT 144.41 499.00 Td (and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.05 499.00 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 185.05 499.00 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 459.40 Td (14. Redeemable Series ) Tj ET Q
q 0 0 0 rg BT 159.67 459.40 Td (A) Tj ET Q
q 0 0 0 rg BT 167.01 459.40 Td ( Pr) Tj ET Q
q 0 0 0 rg BT 181.16 459.40 Td (eferr) Tj ET Q
q 0 0 0 rg BT 204.16 459.40 Td (ed Stock) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 434.20 Td (Ef) Tj ET Q
q 0 0 0 rg BT 60.18 434.20 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 290.20 434.20 Td (5,000,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 334.20 434.20 Td ( shares of preferred stock, par value ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 494.23 434.20 Td ($1.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 518.98 434.20 Td ( per ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 421.00 Td (share, the Company designated a series of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 237.55 421.00 Td (2,500,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 281.55 421.00 Td ( shares, which was issued in and constitutes a single series ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 407.80 Td (known as �Series�) Tj ET Q
q 0 0 0 rg BT 128.51 407.80 Td (A) Tj ET Q
q 0 0 0 rg BT 135.85 407.80 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 427.24 407.80 Td ($1,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.49 407.80 Td ( per share \(the Series�) Tj ET Q
q 0 0 0 rg BT 551.88 407.80 Td (A) Tj ET Q
q 0 0 0 rg BT 559.21 407.80 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 394.60 Td (preferred stock\).) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 368.20 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 362.17 368.20 Td ($650.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 426.95 368.20 Td (, Meredith issued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 505.77 368.20 Td (650,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 541.52 368.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 355.00 Td (shares of perpetual convertible redeemable non-voting Series�) Tj ET Q
q 0 0 0 rg BT 321.54 355.00 Td (A) Tj ET Q
q 0 0 0 rg BT 328.88 355.00 Td ( preferred stock as well as detachable warrants to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 341.80 Td (purchase up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.90 341.80 Td (1,625,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.90 341.80 Td ( shares of Meredith�) Tj ET Q
q 0 0 0 rg BT 249.18 341.80 Td (s common stock with an exercise price of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.29 341.80 Td ($1.00) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.04 341.80 Td ( per share and options ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 328.60 Td (to purchase up to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.20 328.60 Td (875,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.95 328.60 Td ( shares of Meredith�) Tj ET Q
q 0 0 0 rg BT 252.23 328.60 Td (s common stock with an exercise price of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 437.34 328.60 Td ($70.50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.59 328.60 Td ( per share.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 302.20 Td (The Company has classified the Series�) Tj ET Q
q 0 0 0 rg BT 222.29 302.20 Td (A) Tj ET Q
q 0 0 0 rg BT 229.63 302.20 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 50.00 289.00 Td (The Company allocated the net proceeds of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.96 289.00 Td ($631.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 308.74 289.00 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.15 289.00 Td ($650.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.93 289.00 Td ( aggregate gross proceeds received less ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 275.80 Td ($19.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.28 275.80 Td ( in transaction costs\) 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 50.00 262.60 Td ($103.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 114.78 262.60 Td ( to the warrants, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.40 262.60 Td ($12.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 247.68 262.60 Td ( to the options, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 334.45 262.60 Td ($515.4 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 399.23 262.60 Td ( to the Series�) Tj ET Q
q 0 0 0 rg BT 458.50 262.60 Td (A) Tj ET Q
q 0 0 0 rg BT 465.84 262.60 Td ( preferred stock. ) Tj ET Q
q 0 0 0 rg BT 540.16 262.60 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 249.40 Td (discount on the Series�) Tj ET Q
q 0 0 0 rg BT 148.99 249.40 Td (A) Tj ET Q
q 0 0 0 rg BT 156.33 249.40 Td ( preferred stock is being accreted using the ef) Tj ET Q
q 0 0 0 rg BT 355.87 249.40 Td (fective interest method to retained earnings as ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 236.20 Td (a deemed dividend from the date of issuance through the seventh anniversary of the issuance date \(i.e., the date the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 223.00 Td (Series�) Tj ET Q
q 0 0 0 rg BT 79.03 223.00 Td (A) Tj ET Q
q 0 0 0 rg BT 86.36 223.00 Td ( preferred stock becomes convertible\).) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 196.60 Td (The Series�) Tj ET Q
q 0 0 0 rg BT 98.88 196.60 Td (A) Tj ET Q
q 0 0 0 rg BT 106.21 196.60 Td ( preferred stock is non-callable during the first ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 313.31 196.60 Td (3 years) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 344.77 196.60 Td ( after issuance provided that Meredith may) Tj ET Q
q 0 0 0 rg BT 532.82 196.60 Td (, at its ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 183.40 Td (option, subject to the terms of the Series�) Tj ET Q
q 0 0 0 rg BT 229.33 183.40 Td (A) Tj ET Q
q 0 0 0 rg BT 236.67 183.40 Td ( preferred stock, redeem all or any portion of the Series�) Tj ET Q
q 0 0 0 rg BT 482.24 183.40 Td (A) Tj ET Q
q 0 0 0 rg BT 489.58 183.40 Td ( preferred stock ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 170.20 Td (in cash during such ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 137.98 170.20 Td (three) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.97 170.20 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 50.00 157.00 Td (amount equal to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 123.62 157.00 Td (6 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 164.24 157.00 Td ( of the ) Tj ET Q
q 0 0 0 rg BT 194.48 157.00 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 264.53 157.00 Td (V) Tj ET Q
q 0 0 0 rg BT 271.26 157.00 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 349.45 157.00 Td (A) Tj ET Q
q 0 0 0 rg BT 356.79 157.00 Td ( preferred stock as of the redemption date plus ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 143.80 Td (an amount, if any) Tj ET Q
q 0 0 0 rg BT 126.26 143.80 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 495.69 143.80 Td (T) Tj ET Q
q 0 0 0 rg BT 502.02 143.80 Td (reasury notes ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 130.60 Td (with a maturity closest to the date that is three years after the issuance date, plus ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 405.24 130.60 Td (50) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.24 130.60 Td ( basis points. ) Tj ET Q
q 0 0 0 rg BT 475.94 130.60 Td (The ) Tj ET Q
q 0 0 0 rg BT 495.18 130.60 Td (Accrued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 117.40 Td (Stated ) Tj ET Q
q 0 0 0 rg BT 80.05 117.40 Td (V) Tj ET Q
q 0 0 0 rg BT 86.77 117.40 Td (alue is an amount equal to: \(i\) the Stated ) Tj ET Q
q 0 0 0 rg BT 267.10 117.40 Td (V) Tj ET Q
q 0 0 0 rg BT 273.83 117.40 Td (alue \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 298.56 117.40 Td (1,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.31 117.40 Td ( multiplied by the number of shares of Series�) Tj ET Q
q 0 0 0 rg BT 523.41 117.40 Td (A) Tj ET Q
q 0 0 0 rg BT 530.75 117.40 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 104.20 Td (preferred stock outstanding\); plus \(ii\) any accrued and unpaid dividends thereof \(including any accumulated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 91.00 Td (dividends\).) Tj ET Q
endstream
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q
q 0 0 0 rg BT 303.28 31.60 Td (14) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td (From and after the third anniversary of the issuance date of the Series�) Tj ET Q
q 0 0 0 rg BT 358.20 741.40 Td (A) Tj ET Q
q 0 0 0 rg BT 365.54 741.40 Td ( preferred stock, Meredith may redeem all ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (or any portion of the Series�) Tj ET Q
q 0 0 0 rg BT 172.20 728.20 Td (A) Tj ET Q
q 0 0 0 rg BT 179.53 728.20 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 50.00 715.00 Td (plus \(ii\) the ) Tj ET Q
q 0 0 0 rg BT 102.86 715.00 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 172.91 715.00 Td (V) Tj ET Q
q 0 0 0 rg BT 179.63 715.00 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 257.83 715.00 Td (A) Tj ET Q
q 0 0 0 rg BT 265.17 715.00 Td ( preferred stock as of the redemption date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 688.60 Td (The Call Premium is an amount equal to the dif) Tj ET Q
q 0 0 0 rg BT 259.06 688.60 Td (ference of \(A\) \(i\) the ) Tj ET Q
q 0 0 0 rg BT 352.82 688.60 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 422.87 688.60 Td (V) Tj ET Q
q 0 0 0 rg BT 429.59 688.60 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 507.79 688.60 Td (A) Tj ET Q
q 0 0 0 rg BT 515.13 688.60 Td ( preferred ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 675.40 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 50.00 662.20 Td (issuance, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 92.76 662.20 Td (106 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.38 662.20 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 441.28 662.20 Td (103 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 492.90 662.20 Td (, and \(c\) if such ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 649.00 Td (redemption occurs after the sixth year after issuance, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.87 649.00 Td (100 percent) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 336.49 649.00 Td (, minus \(B\) the ) Tj ET Q
q 0 0 0 rg BT 404.63 649.00 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 474.68 649.00 Td (V) Tj ET Q
q 0 0 0 rg BT 481.40 649.00 Td (alue as of the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 635.80 Td (redemption date.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 609.40 Td (In connection with any partial redemption by Meredith, Meredith may not redeem Series�) Tj ET Q
q 0 0 0 rg BT 442.83 609.40 Td (A) Tj ET Q
q 0 0 0 rg BT 450.17 609.40 Td ( preferred stock in an ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 596.20 Td (amount less than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 126.68 596.20 Td ($50.0 million) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 185.96 596.20 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.71 596.20 Td (of the ) Tj ET Q
q 0 0 0 rg BT 216.21 596.20 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 286.26 596.20 Td (V) Tj ET Q
q 0 0 0 rg BT 292.98 596.20 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 371.18 596.20 Td (A) Tj ET Q
q 0 0 0 rg BT 378.52 596.20 Td ( preferred stock nor ef) Tj ET Q
q 0 0 0 rg BT 476.05 596.20 Td (fect any ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 583.00 Td (redemption resulting in less than ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.34 583.00 Td ($100.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 261.12 583.00 Td ( of the ) Tj ET Q
q 0 0 0 rg BT 291.36 583.00 Td (Accrued Stated ) Tj ET Q
q 0 0 0 rg BT 361.41 583.00 Td (V) Tj ET Q
q 0 0 0 rg BT 368.14 583.00 Td (alue of the Series�) Tj ET Q
q 0 0 0 rg BT 446.33 583.00 Td (A) Tj ET Q
q 0 0 0 rg BT 453.67 583.00 Td ( preferred stock ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 569.80 Td (remaining outstanding.) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 425.10 543.40 Td (A) Tj ET Q
q 0 0 0 rg BT 432.44 543.40 Td ( preferred stock may elect to ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 194.49 530.20 Td (A) Tj ET Q
q 0 0 0 rg BT 201.82 530.20 Td ( preferred stock into Meredith common stock at a ratio based on its ) Tj ET Q
q 0 0 0 rg BT 499.05 530.20 Td (Accrued ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 517.00 Td (Stated ) Tj ET Q
q 0 0 0 rg BT 80.05 517.00 Td (V) Tj ET Q
q 0 0 0 rg BT 86.77 517.00 Td (alue divided by the volume weighted average price of Meredith common stock for the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 467.98 517.00 Td (30) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 478.98 517.00 Td ( trading days ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 503.80 Td (immediately preceding the written notice of conversion.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 477.40 Td (The Series�) Tj ET Q
q 0 0 0 rg BT 98.88 477.40 Td (A) Tj ET Q
q 0 0 0 rg BT 106.21 477.40 Td ( preferred stock accrues an annual dividend at either \(a\) to the extent paid in cash, an amount equal to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 464.20 Td (the Cash Dividend ) Tj ET Q
q 0 0 0 rg BT 134.02 464.20 Td (Annual Rate \(as set forth in the table below\), multiplied by the Stated ) Tj ET Q
q 0 0 0 rg BT 442.36 464.20 Td (V) Tj ET Q
q 0 0 0 rg BT 449.08 464.20 Td (alue \(equal to the number ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 133.09 451.00 Td (A) Tj ET Q
q 0 0 0 rg BT 140.43 451.00 Td (�preferred stock outstanding multiplied by ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.00 451.00 Td ($1,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 358.25 451.00 Td (\) or \(b\) if dividends are not declared and paid ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 437.80 Td (in cash, the Company will deliver additional shares of Series�) Tj ET Q
q 0 0 0 rg BT 319.13 437.80 Td (A) Tj ET Q
q 0 0 0 rg BT 326.47 437.80 Td ( preferred stock, in kind, by issuing a number of ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 146.83 424.60 Td (Accrued Dividend ) Tj ET Q
q 0 0 0 rg BT 229.92 424.60 Td (Annual Rate \(as set forth in the table below\), multiplied by the Stated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 411.40 Td (V) Tj ET Q
q 0 0 0 rg BT 56.72 411.40 Td (alue for all outstanding shares of Series�) Tj ET Q
q 0 0 0 rg BT 232.38 411.40 Td (A) Tj ET Q
q 0 0 0 rg BT 239.71 411.40 Td ( preferred stock, divided by \(ii\) ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 379.91 411.40 Td ($1,000) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 410.16 411.40 Td (.) Tj ET Q
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q 0 0 0 rg BT 184.10 366.60 Td (Y) Tj ET Q
q 0 0 0 rg BT 191.43 366.60 Td (ear) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 293.30 377.60 Td (Cash Dividend) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 298.20 366.60 Td (Annual Rate) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 395.35 377.60 Td (Accrued Dividend) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 408.20 366.60 Td (Annual Rate) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 155.95 351.57 Td (Y) Tj ET Q
q 0 0 0 rg BT 163.34 351.57 Td (ears 1 through 3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 316.50 351.57 Td (8.5%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.65 351.57 Td (9%) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 180.70 336.57 Td (Y) Tj ET Q
q 0 0 0 rg BT 188.09 336.57 Td (ear 4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.30 336.57 Td (LIBOR plus 850 bps) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 392.30 336.57 Td (LIBOR plus 900 bps) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 180.70 321.57 Td (Y) Tj ET Q
q 0 0 0 rg BT 188.09 321.57 Td (ear 5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 282.30 321.57 Td (LIBOR plus 950 bps) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 389.55 321.57 Td (LIBOR plus 1000 bps) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 135.80 305.62 Td (Y) Tj ET Q
q 0 0 0 rg BT 143.19 305.62 Td (ear 6 through redemption) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 279.55 305.62 Td (LIBOR plus 1050 bps) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 389.75 305.62 Td (LIBOR plus 1) Tj ET Q
q 0 0 0 rg BT 451.68 305.62 Td (100 bps) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 276.00 Td (The Series�) Tj ET Q
q 0 0 0 rg BT 98.88 276.00 Td (A) Tj ET Q
q 0 0 0 rg BT 106.21 276.00 Td ( preferred stock ranks senior to any other class or series of equity) Tj ET Q
q 0 0 0 rg BT 392.02 276.00 Td (, including Meredith�) Tj ET Q
q 0 0 0 rg BT 485.19 276.00 Td (s common stock ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 262.80 Td (and class�B stock, with respect to dividend rights and rights upon liquidation. Dividends with respect to any quarter ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 331.04 249.60 Td (A) Tj ET Q
q 0 0 0 rg BT 338.38 249.60 Td ( preferred stock, and may not be paid in a ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 236.40 Td (combination of cash and shares of Series�) Tj ET Q
q 0 0 0 rg BT 231.76 236.40 Td (A) Tj ET Q
q 0 0 0 rg BT 239.09 236.40 Td ( preferred stock. ) Tj ET Q
q 0 0 0 rg BT 313.01 236.40 Td (All Series�) Tj ET Q
q 0 0 0 rg BT 358.84 236.40 Td (A) Tj ET Q
q 0 0 0 rg BT 366.17 236.40 Td ( preferred stock dividends \(regardless of ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 239.09 223.20 Td (A) Tj ET Q
q 0 0 0 rg BT 246.43 223.20 Td ( preferred stock or cash\) 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
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BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 132.00 Td (The Company has ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 132.79 132.00 Td (two) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 149.29 132.00 Td ( classes of common stock outstanding: common and class�B. Each class receives equal ) 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 253.47 118.80 Td (10) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 264.47 118.80 Td ( votes per share, is not transferable as class�B stock except to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 105.60 Td (family members of the holder or certain other related entities. ) Tj ET Q
q 0 0 0 rg BT 322.76 105.60 Td (At any time, class�B stock is convertible, share for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 92.40 Td (share, into common stock with ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 188.09 92.40 Td (one) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 203.97 92.40 Td ( vote per share. Class�B stock transferred to persons or entities not entitled to ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 79.20 Td (receive it as class�B stock will automatically be converted and issued as common stock to the transferee. ) Tj ET Q
q 0 0 0 rg BT 511.35 79.20 Td (The ) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 236.64 66.00 Td (s common stock is the New ) Tj ET Q
q 0 0 0 rg BT 360.27 66.00 Td (Y) Tj ET Q
q 0 0 0 rg BT 367.11 66.00 Td (ork Stock Exchange \(trading symbol MDP\). ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 52.80 Td (No separate public trading market exists for the Company�) Tj ET Q
q 0 0 0 rg BT 307.82 52.80 Td (s class�B stock.) Tj ET Q
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q 0 0 0 rg BT 303.28 31.60 Td (15) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 197.26 741.40 Td (s Board of Directors has authorized the repurchase of shares of the Company�) Tj ET Q
q 0 0 0 rg BT 538.76 741.40 Td (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 429.10 728.20 Td ($100.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 493.88 728.20 Td ( of shares. ) Tj ET Q
q 0 0 0 rg BT 540.92 728.20 Td (As ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 715.00 Td (of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 61.91 715.00 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 123.33 715.00 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 128.83 715.00 Td ($50.3 million) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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0 i
[] 0 d
0 J
0 j
3 M
408 650.9 m
413 650.9 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
413 664.9 m
468 664.9 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
413 650.9 m
468 650.9 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
143 605.9 m
293 605.9 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
293 605.9 m
348 605.9 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
348 605.9 m
353 605.9 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
353 605.9 m
408 605.9 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
408 605.9 m
413 605.9 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
413 605.9 m
468 605.9 l
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BT /F1 11.00 Tf ET
q 0 0 0 rg BT 145.50 654.95 Td (Y) Tj ET Q
q 0 0 0 rg BT 152.22 654.95 Td (ears ended June�30,) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 322.50 654.95 Td (2019) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 382.50 654.95 Td (2018) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 442.50 654.95 Td (2017) Tj ET Q
BT /F4 11.00 Tf ET
q 0 0 0 rg BT 145.50 640.76 Td (\(In millions\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 145.50 625.77 Td (Number of shares) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 226.25 625.77 Td (.......................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 330.05 625.77 Td (0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.05 625.77 Td (0.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 450.05 625.77 Td (0.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 145.50 610.77 Td (Cost at market value) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 237.25 610.77 Td (...................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 295.50 610.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 324.55 610.77 Td (10.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 355.50 610.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 384.55 610.77 Td (31.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.50 610.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 444.55 610.77 Td (53.3) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 580.00 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 50.00 566.80 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 50.00 553.60 Td (were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 74.12 553.60 Td (0.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 122.40 553.60 Td ( shares at a cost of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.09 553.60 Td ($4.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 259.88 553.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 300.50 553.60 Td (2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 322.50 553.60 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.00 553.60 Td (0.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 376.28 553.60 Td ( shares at a cost of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 459.98 553.60 Td ($19.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 519.26 553.60 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 540.40 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 72.00 540.40 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 96.13 540.40 Td (0.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 144.41 540.40 Td ( shares at a cost of ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 228.11 540.40 Td ($37.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 287.39 540.40 Td ( in fiscal ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 328.01 540.40 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 350.01 540.40 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 500.80 Td (16. Earnings \(Loss\) Per) Tj ET Q
q 0 0 0 rg BT 162.55 500.80 Td ( Common Shar) Tj ET Q
q 0 0 0 rg BT 233.86 500.80 Td (e) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 474.40 Td (The calculation of basic earnings \(loss\) per common share for each year is based on the weighted average number ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 461.20 Td (of common and class�B shares outstanding during the year) Tj ET Q
q 0 0 0 rg BT 306.31 461.20 Td (. ) Tj ET Q
q 0 0 0 rg BT 311.61 461.20 Td (The calculation of diluted earnings \(loss\) per common ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 448.00 Td (share for each year is based on the weighted average number of common and class�B shares outstanding during the ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 434.80 Td (year plus the ef) Tj ET Q
q 0 0 0 rg BT 117.30 434.80 Td (fect, if any) Tj ET Q
q 0 0 0 rg BT 163.92 434.80 Td (, of dilutive common stock equivalent shares.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 408.40 Td (The following table presents the calculations of basic earnings \(loss\) per common share:) Tj ET Q
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49.50 355.70 362.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 355.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 355.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 355.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 323.70 362.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 323.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 323.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 323.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 291.70 362.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 291.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 291.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 291.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 259.70 362.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 259.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 259.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 259.70 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 228.70 362.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 228.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 228.70 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 228.70 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
49.5 384.70000000000005 m
411.5 384.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 369.70000000000005 m
411.5 369.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 384.70000000000005 m
461.5 384.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 369.70000000000005 m
461.5 369.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 384.70000000000005 m
511.5 384.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 369.70000000000005 m
511.5 369.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 384.70000000000005 m
561.5 384.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 369.70000000000005 m
561.5 369.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 275.70000000000005 m
411.5 275.70000000000005 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 259.70000000000005 m
411.5 259.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 275.70000000000005 m
461.5 275.70000000000005 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 259.70000000000005 m
461.5 259.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 275.70000000000005 m
511.5 275.70000000000005 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 259.70000000000005 m
511.5 259.70000000000005 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 275.70000000000005 m
561.5 275.70000000000005 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 259.70000000000005 m
561.5 259.70000000000005 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 212.70000000000005 m
411.5 212.70000000000005 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 212.70000000000005 m
461.5 212.70000000000005 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 212.70000000000005 m
511.5 212.70000000000005 l
s
0 0 0 RG
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 212.70000000000005 m
561.5 212.70000000000005 l
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 374.38 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 374.38 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 435.00 374.38 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 485.00 374.38 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 535.00 374.38 Td (2017) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 360.15 Td (\(In millions except per shar) Tj ET Q
q 0 0 0 rg BT 151.15 360.15 Td (e data\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 344.62 Td (Net earnings) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 108.25 344.57 Td (.............................................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.00 344.62 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 344.62 Td (46.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.00 344.62 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 344.62 Td (99.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 344.62 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 344.62 Td (188.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 328.62 Td (Participating warrants dividend) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 190.75 328.57 Td (...............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.85 328.62 Td (\(3.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 328.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.85 328.62 Td (\(1.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.30 328.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 328.62 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 312.62 Td (Preferred stock dividend) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 160.50 312.57 Td (..........................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.35 312.62 Td (\(55.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 312.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 484.35 312.62 Td (\(22.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.30 312.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 312.62 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 296.62 Td (Accretion of Series�) Tj ET Q
q 0 0 0 rg BT 139.36 296.62 Td (A) Tj ET Q
q 0 0 0 rg BT 146.69 296.62 Td ( preferred stock) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 215.50 296.57 Td (......................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.35 296.62 Td (\(17.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 296.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.85 296.62 Td (\(7.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.30 296.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 296.62 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 280.62 Td (Other securities dividends) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 168.75 280.57 Td (.......................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.85 280.62 Td (\(1.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 280.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 489.85 280.62 Td (\(1.1) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 507.30 280.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 546.30 280.62 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 264.62 Td (Basic earnings \(loss\) attributable to common shareholders) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.00 264.57 Td (....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.00 264.62 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.35 264.62 Td (\(32.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 264.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.00 264.62 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 264.62 Td (66.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 264.62 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 264.62 Td (188.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 233.62 Td (Basic weighted average common shares outstanding) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.25 233.57 Td (.............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 233.62 Td (45.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 233.62 Td (44.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 233.62 Td (44.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 217.62 Td (Basic earnings \(loss\) per common share) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 229.25 217.57 Td (.................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.00 217.62 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.35 217.62 Td (\(0.71) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 217.62 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.00 217.62 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 217.62 Td (1.48) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 217.62 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 217.62 Td (4.23) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 186.80 Td (Diluted earnings \(loss\) per common share reflects the potential dilution that could occur if securities or other ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 173.60 Td (contracts to issue common stock were exercised or converted into common stock. ) Tj ET Q
q 0 0 0 rg BT 411.78 173.60 Td (The dilutive ef) Tj ET Q
q 0 0 0 rg BT 476.34 173.60 Td (fects of these ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.40 Td (share-based awards were computed using the two-class method.) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q
q 0 0 0 rg BT 303.28 31.60 Td (16) Tj ET Q
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 719.50 362.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 719.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 719.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 719.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 689.50 362.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 689.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 689.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 689.50 50.00 -15.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
49.50 659.50 362.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
411.50 659.50 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
461.50 659.50 50.00 -16.00 re f
/GS0 gs
0.8 0.9333333333333333 1 rg
/GS0 gs
511.50 659.50 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
49.5 748.5 m
411.5 748.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 733.5 m
411.5 733.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 748.5 m
461.5 748.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 733.5 m
461.5 733.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 748.5 m
511.5 748.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 733.5 m
511.5 733.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 748.5 m
561.5 748.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 733.5 m
561.5 733.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 733.5 m
411.5 733.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 733.5 m
461.5 733.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 733.5 m
511.5 733.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 733.5 m
561.5 733.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 689.5 m
411.5 689.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 674.5 m
411.5 674.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 689.5 m
461.5 689.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 674.5 m
461.5 674.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 689.5 m
511.5 689.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 674.5 m
511.5 674.5 l
s
0 0 0 RG
/GS0 gs
1.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 689.5 m
561.5 689.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 674.5 m
561.5 674.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
49.5 628.5 m
411.5 628.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
411.5 628.5 m
461.5 628.5 l
s
0 0 0 RG
/GS0 gs
2.00 w
0 i
[] 0 d
0 J
0 j
3 M
461.5 628.5 m
511.5 628.5 l
s
0 0 0 RG
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2.00 w
0 i
[] 0 d
0 J
0 j
3 M
511.5 628.5 m
561.5 628.5 l
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 738.18 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 738.18 Td (ears ended June 30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 435.00 738.18 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 485.00 738.18 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 535.00 738.18 Td (2017) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 723.95 Td (\(In millions except per shar) Tj ET Q
q 0 0 0 rg BT 151.15 723.95 Td (e data\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 709.37 Td (Basic weighted average common shares outstanding) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 284.25 709.37 Td (.............................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 709.37 Td (45.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 709.37 Td (44.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 709.37 Td (44.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 694.37 Td (Dilutive ef) Tj ET Q
q 0 0 0 rg BT 99.25 694.37 Td (fect of stock options and equivalents) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 262.25 694.37 Td (.....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 443.55 694.37 Td (0.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 493.55 694.37 Td (0.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 543.55 694.37 Td (0.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 679.37 Td (Diluted weighted average common shares outstanding) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 292.50 679.37 Td (..........................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 438.00 679.37 Td (45.5) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 679.37 Td (45.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 679.37 Td (45.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 648.42 Td (Diluted earnings \(loss\) attributable to common shareholders) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 317.25 648.37 Td (.................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 414.00 648.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.35 648.42 Td (\(32.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 648.42 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.00 648.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 648.42 Td (66.4) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 514.00 648.42 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 648.42 Td (188.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 633.37 Td (Diluted earnings \(loss\) per common share) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 237.50 633.37 Td (..............................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.35 633.37 Td (\(0.70) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 457.30 633.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.00 633.37 Td (1.47) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 538.00 633.37 Td (4.16) Tj ET Q
BT /F2 10.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 602.65 Td (For the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 134.91 602.65 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.32 602.65 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 201.82 602.65 Td (0.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.11 602.65 Td ( options were included in the computation of dilutive loss per common ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 589.45 Td (share while being antidilutive \(the diluted loss per share becoming less negative than basic loss per share\). ) Tj ET Q
q 0 0 0 rg BT 520.22 589.45 Td (These ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 576.25 Td (securities are dilutive \(the dilutive earnings per common share becoming less than basic earnings per common ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 563.05 Td (share\) when calculating the dilutive earnings per common share for income from continuing operations, which is ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 549.85 Td (the control number when determining the dilutive impact of securities in all earnings \(loss\) per common share ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 536.65 Td (calculations. ) Tj ET Q
q 0 0 0 rg BT 107.84 536.65 Td (Therefore, these securities are included in all diluted earnings \(loss\) per common share calculations for ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 523.45 Td (the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 116.88 523.45 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 178.29 523.45 Td (. In addition, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 237.26 523.45 Td (0.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 285.54 523.45 Td ( convertible preferred shares, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 416.56 523.45 Td (1.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.84 523.45 Td ( warrants, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 510.96 523.45 Td (0.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 559.24 523.45 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 510.25 Td (common stock equivalents, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 191.44 510.25 Td (0.1 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 239.72 510.25 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 50.00 497.05 Td (dilutive earnings per common share. ) Tj ET Q
q 0 0 0 rg BT 212.92 497.05 Td (These securities have an antidilutive ef) Tj ET Q
q 0 0 0 rg BT 384.07 497.05 Td (fect on the loss per common share ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 483.85 Td (calculation \(the dilutive loss per common share becoming less negative than the basic loss per common share\). ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 470.65 Td (Therefore, these securities are not taken into account in determining the weighted average number of common ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 457.45 Td (shares for the calculation of diluted earnings \(loss\) per common share for the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 441.89 457.45 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 503.30 457.45 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 431.05 Td (For the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 134.91 431.05 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.32 431.05 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 201.82 431.05 Td (0.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.11 431.05 Td ( convertible preferred shares, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 381.12 431.05 Td (0.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 429.40 431.05 Td ( warrants, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 475.52 431.05 Td (0.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 523.81 431.05 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 417.85 Td (common stock equivalents, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 191.44 417.85 Td (0.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 239.72 417.85 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 50.00 404.65 Td (dilutive earnings per common share. ) Tj ET Q
q 0 0 0 rg BT 212.92 404.65 Td (These securities have an antidilutive ef) Tj ET Q
q 0 0 0 rg BT 384.07 404.65 Td (fect on the earnings per common share ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 391.45 Td (calculation \(the diluted earnings per common share becoming higher than basic earnings per common share\). ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 378.25 Td (Therefore, these securities are not taken into account in determining the weighted average number of common ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 365.05 Td (shares for the calculation of diluted earnings per share for the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 373.45 365.05 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 434.86 365.05 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 338.65 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 391.21 338.65 Td (2.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 439.50 338.65 Td ( options for the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 325.45 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.41 325.45 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 117.83 325.45 Td ($63.86) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 148.08 325.45 Td ( weighted average exercise price\), ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 300.77 325.45 Td (0.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 349.05 325.45 Td ( options for the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.40 325.45 Td (June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 530.81 325.45 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 312.25 Td (\() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 53.66 312.25 Td ($62.71) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 83.91 312.25 Td ( weighted average exercise price\), and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 255.23 312.25 Td (0.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 303.52 312.25 Td ( options for the year ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 423.87 312.25 Td (June�30, 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 485.28 312.25 Td ( \() Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 491.69 312.25 Td ($54.28) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 521.94 312.25 Td ( ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 299.05 Td (weighted average exercise price\).) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 272.65 Td (In the years ended ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 133.07 272.65 Td (June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 194.49 272.65 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 199.99 272.65 Td (2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 221.99 272.65 Td ( and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 243.37 272.65 Td (2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.37 272.65 Td (, options were exercised to purchase ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 427.56 272.65 Td (0.1 million) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 475.84 272.65 Td (, ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 480.84 272.65 Td (0.5 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 529.12 272.65 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 259.45 Td (0.9 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 98.28 259.45 Td ( common shares, respectively) Tj ET Q
q 0 0 0 rg BT 227.69 259.45 Td (.) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 219.85 Td (17. Other) Tj ET Q
q 0 0 0 rg BT 97.15 219.85 Td ( Compr) Tj ET Q
q 0 0 0 rg BT 133.31 219.85 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 50.00 193.45 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 50.00 180.25 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 50.00 167.05 Td (other comprehensive income \(loss\).) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q
q 0 0 0 rg BT 303.28 31.60 Td (17) 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
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 286.10 695.18 Td (Minimum) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 280.25 683.18 Td (Pension/Post) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 283.40 671.18 Td (Retir) Tj ET Q
q 0 0 0 rg BT 305.43 671.18 Td (ement) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 289.15 659.18 Td (Liability) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 280.25 647.18 Td (Adjustments) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 363.40 671.18 Td (For) Tj ET Q
q 0 0 0 rg BT 378.86 671.18 Td (eign) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 359.50 659.18 Td (Curr) Tj ET Q
q 0 0 0 rg BT 381.07 659.18 Td (ency) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 355.35 647.18 Td (T) Tj ET Q
q 0 0 0 rg BT 361.65 647.18 Td (ranslation) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 431.90 671.18 Td (Inter) Tj ET Q
q 0 0 0 rg BT 453.47 671.18 Td (est) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 438.50 659.18 Td (Rate) Tj ET Q
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q 0 0 0 rg BT 434.85 647.18 Td (Swaps) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 493.15 683.18 Td (Accumulated) Tj ET Q
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q 0 0 0 rg BT 508.80 671.18 Td (Other) Tj ET Q
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q 0 0 0 rg BT 488.25 659.18 Td (Compr) Tj ET Q
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q 0 0 0 rg BT 54.50 631.95 Td (\(In millions\)) Tj ET Q
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q 0 0 0 rg BT 54.50 617.40 Td (Balance at June�30, 2016) Tj ET Q
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q 0 0 0 rg BT 338.80 617.37 Td (\)) Tj ET Q
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q 0 0 0 rg BT 462.05 542.37 Td (0.4) Tj ET Q
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q 0 0 0 rg BT 531.85 542.37 Td (\(13.0) Tj ET Q
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q 0 0 0 rg BT 338.80 527.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 397.80 527.37 Td (�) Tj ET Q
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q 0 0 0 rg BT 458.35 527.37 Td (\(0.4) Tj ET Q
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q 0 0 0 rg BT 475.80 527.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 537.35 527.37 Td (\(0.7) Tj ET Q
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q 0 0 0 rg BT 554.80 527.37 Td (\)) Tj ET Q
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q 0 0 0 rg BT 206.25 512.37 Td (.......................) Tj ET Q
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q 0 0 0 rg BT 321.35 512.37 Td (\(0.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.80 512.37 Td (\)) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 397.80 496.42 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 462.05 496.42 Td (0.2) 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 554.80 496.42 Td (\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 54.50 481.40 Td (Balance at June�30, 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.50 481.37 Td (....................................) Tj ET Q
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q 0 0 0 rg BT 315.85 481.37 Td (\(23.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.80 481.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.85 481.37 Td (\(12.9) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.80 481.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.80 481.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.85 481.37 Td (\(36.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 554.80 481.37 Td (\)) Tj ET Q
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q 0 0 0 rg BT 72.50 466.37 Td (Current-year adjustments, pre-tax) Tj ET Q
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q 0 0 0 rg BT 222.75 466.37 Td (.................) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.80 466.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.35 466.37 Td (\(2.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.80 466.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.80 466.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.85 466.37 Td (\(1) Tj ET Q
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BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 72.50 451.37 Td (T) Tj ET Q
q 0 0 0 rg BT 78.45 451.37 Td (ax benefit) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 123.75 451.37 Td (.....................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 325.05 451.37 Td (2.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 397.80 451.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.80 451.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 541.05 451.37 Td (2.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 90.50 436.37 Td (Other comprehensive loss) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 206.25 436.37 Td (.......................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 321.35 436.37 Td (\(6.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.80 436.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 391.35 436.37 Td (\(2.8) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.80 436.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.80 436.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 537.35 436.37 Td (\(9.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 554.80 436.37 Td (\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 54.50 421.40 Td (Balance at June�30, 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.50 421.37 Td (....................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 293.50 421.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 315.85 421.37 Td (\(30.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 338.80 421.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 363.50 421.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 385.85 421.37 Td (\(15.7) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 408.80 421.37 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 430.50 421.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 464.80 421.37 Td (�) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 509.50 421.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 531.85 421.37 Td (\(46.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 554.80 421.37 Td (\)) Tj ET Q
BT /F4 9.00 Tf ET
BT /F4 5.85 Tf ET
q 0 0 0 rg BT 54.50 411.03 Td (1) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 57.42 406.95 Td ( Reclassification r) Tj ET Q
q 0 0 0 rg BT 124.83 406.95 Td (elated to a one-time adjustment for the adoption of ) Tj ET Q
q 0 0 0 rg BT 309.90 406.95 Td (ASU 2018-02, ) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 363.14 406.95 Td (Reclassification of Certain ) Tj ET Q
q 0 0 0 rg BT 461.19 406.95 Td (T) Tj ET Q
q 0 0 0 rg BT 466.06 406.95 Td (ax Ef) Tj ET Q
q 0 0 0 rg BT 485.14 406.95 Td (fects from ) Tj ET Q
BT /F2 9.00 Tf ET
q 0 0 0 rg BT 54.50 397.96 Td ( ) Tj ET Q
q 0 0 0 rg BT 60.75 397.96 Td (Accumulated Other Comprehensive Income.) Tj ET Q
BT /F2 10.00 Tf ET
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 50.00 358.80 Td (18. Financial Information about Industry Segments) Tj ET Q
BT /F1 11.00 Tf ET
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 332.40 Td (Meredith is a diversified media company focused primarily on service journalism. On the basis of products and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 319.20 Td (services, the Company has established ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 221.68 319.20 Td (two) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 238.18 319.20 Td ( reportable segments: national media and local media. ) Tj ET Q
q 0 0 0 rg BT 477.76 319.20 Td (The national ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 306.00 Td (media segment focuses on the distribution of our nationally recognized brands through magazine publishing, digital ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 292.80 Td (and mobile media, brand licensing, database-related activities, and other related operations. ) Tj ET Q
q 0 0 0 rg BT 454.51 292.80 Td (The local media ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 279.60 Td (segment consists primarily of the operations of network-af) Tj ET Q
q 0 0 0 rg BT 307.32 279.60 Td (filiated television stations. ) Tj ET Q
q 0 0 0 rg BT 425.65 279.60 Td (V) Tj ET Q
q 0 0 0 rg BT 432.94 279.60 Td (irtually all of the Company�) Tj ET Q
q 0 0 0 rg BT 555.14 279.60 Td (s ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 266.40 Td (revenues are generated in the U.S. and substantially all of the assets reside within the U.S. Intersegment transactions ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 253.20 Td (are eliminated.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 226.80 Td (There are ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 94.57 226.80 Td (two) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 111.07 226.80 Td ( principal financial measures reported to the chief executive of) Tj ET Q
q 0 0 0 rg BT 386.06 226.80 Td (ficer \(the chief operating decision ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 213.60 Td (maker\) for use in assessing segment performance and allocating resources. ) Tj ET Q
q 0 0 0 rg BT 381.21 213.60 Td (Those measures are operating profit and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 200.40 Td (EBITDA. Operating profit for segment reporting, disclosed below) Tj ET Q
q 0 0 0 rg BT 340.41 200.40 Td (, is revenues less operating costs and unallocated ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 187.20 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 50.00 174.00 Td (employee benefits, occupancy) Tj ET Q
q 0 0 0 rg BT 182.15 174.00 Td (, information systems, accounting services, internal legal staf) Tj ET Q
q 0 0 0 rg BT 450.76 174.00 Td (f, and human resources ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 160.80 Td (administration. ) Tj ET Q
q 0 0 0 rg BT 118.85 160.80 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 50.00 147.60 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 50.00 134.40 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 50.00 121.20 Td (disclosures about segments of an enterprise and related information, EBITDA) Tj ET Q
q 0 0 0 rg BT 392.13 121.20 Td ( is not presented below) Tj ET Q
q 0 0 0 rg BT 492.84 121.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 94.80 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 81.60 Td (fixed and intangible assets include impairments of national media trademarks and the amortization of broadcast ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 68.40 Td (rights in the local media segment. Impairments of national media trademarks were ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 415.02 68.40 Td ($41.8 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.30 68.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.36 68.40 Td (fiscal 2019) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 536.93 68.40 Td (, ) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 298.65 31.60 Td (1) Tj ET Q
q 0 0 0 rg BT 303.28 31.60 Td (18) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 741.40 Td ($22.7 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 109.28 741.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 123.34 741.40 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 171.91 741.40 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 196.04 741.40 Td ($5.3 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 249.82 741.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 263.88 741.40 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 312.45 741.40 Td (. Broadcast rights amortization totaled ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 483.51 741.40 Td ($20.0 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 542.79 741.40 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 728.20 Td (fiscal 2019) Tj ET Q
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
q 0 0 0 rg BT 104.07 728.20 Td ($19.2 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 163.35 728.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 177.41 728.20 Td (fiscal 2018) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 225.98 728.20 Td (, and ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 250.11 728.20 Td ($17.6 million) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 309.39 728.20 Td ( in ) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 323.45 728.20 Td (fiscal 2017) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 372.02 728.20 Td (.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 701.80 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 50.00 688.60 Td (assets such as of) Tj ET Q
q 0 0 0 rg BT 122.20 688.60 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 50.00 675.40 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 50.00 662.20 Td (assets allocated to or identified with corporate staf) Tj ET Q
q 0 0 0 rg BT 271.25 662.20 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 50.00 649.00 Td (segment.) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 50.00 622.60 Td (The following table presents financial information by segment:) Tj ET Q
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492.50 449.90 9.00 -15.00 re f
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501.50 449.90 60.00 -15.00 re f
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 589.58 Td (Y) Tj ET Q
q 0 0 0 rg BT 58.11 589.58 Td (ears ended June�30,) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 383.00 589.58 Td (2019) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 452.00 589.58 Td (2018) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 521.00 589.58 Td (2017) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 52.00 575.25 Td (\(In millions\)) Tj ET Q
BT /F1 11.00 Tf ET
q 0 0 0 rg BT 52.00 559.90 Td (Revenues) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 544.77 Td (National media) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 120.75 544.77 Td (.......................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 366.00 544.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 386.25 544.77 Td (2,326.6) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 435.00 544.77 Td ($) 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 524.25 544.77 Td (1,083.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 52.00 529.77 Td (Local media) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.00 529.77 Td (............................................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 394.55 529.77 Td (863.8) 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 469.05 439.77 Td (85.0) Tj ET Q
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q 0 0 0 rg BT 504.00 439.77 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.55 439.77 Td (146.4) Tj ET Q
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q 0 0 0 rg BT 52.00 424.77 Td (Local media) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 107.00 424.77 Td (............................................................................................) Tj ET Q
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q 0 0 0 rg BT 394.55 424.77 Td (278.3) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 463.55 424.77 Td (186.7) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 151.00 409.77 Td (............................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 390.85 409.77 Td (\(1) 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 534.35 409.77 Td (\(49.8) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 159.25 394.77 Td (.........................................................................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 394.55 394.77 Td (287.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 469.05 394.77 Td (86.9) Tj ET Q
BT /F2 11.00 Tf ET
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q 0 0 0 rg BT 52.00 379.77 Td (Non-operating income, net) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 170.25 379.77 Td (.....................................................................) Tj ET Q
BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 474.55 379.77 Td (0.7) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 142.75 364.77 Td (...............................................................................) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 419.30 364.77 Td (\)) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 465.35 364.77 Td (\(97.2) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.30 364.77 Td (\)) 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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q 0 0 0 rg BT 332.50 349.77 Td (..........) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 366.00 348.82 Td ($) 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 247.00 584.07 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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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 426.65 570.07 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 484.65 570.07 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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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 /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
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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 /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 /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 489.15 495.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 539.65 495.27 Td (18.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 52.50 482.27 Td (Deferred income taxes) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 144.00 482.27 Td (.............................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 315.15 482.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 373.15 482.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 428.65 482.27 Td (6.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 483.30 482.32 Td (\(6.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 499.15 482.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 547.15 482.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 52.50 469.27 Td (Other assets) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 101.50 469.27 Td (..............................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 307.65 469.27 Td (60.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 370.65 469.27 Td (5.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 418.65 469.27 Td (197.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 489.15 469.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 534.65 469.27 Td (263.3) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 52.50 456.27 Td (Intangible assets, net) 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 302.65 456.27 Td (676.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 353.15 456.27 Td (1,329.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 428.65 456.27 Td (1.0) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 489.15 456.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 527.15 456.27 Td (2,006.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 52.50 443.27 Td (Goodwill) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 91.50 443.27 Td (..................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 302.65 443.27 Td (614.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 353.15 443.27 Td (1,266.9) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 423.65 443.27 Td (34.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 489.15 443.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 527.15 443.27 Td (1,915.8) 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 411.15 430.27 Td (7,773.2) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 460.80 430.32 Td (\(15,871.1) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 499.15 430.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 547.15 430.27 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 315.15 417.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 360.65 417.27 Td (204.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.15 417.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 473.30 417.32 Td (\(204.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 499.15 417.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 547.15 417.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 52.50 404.27 Td (Investment in subsidiaries) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 159.00 404.27 Td (.......................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 295.15 404.27 Td (3,844.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 353.15 404.27 Td (1,050.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.15 404.27 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 499.15 404.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 547.15 404.27 Td (�) 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
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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 331.50 391.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 389.50 391.27 Td ($) 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 447.50 391.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 460.80 391.32 Td (\(20,988.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 499.15 391.27 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 505.50 391.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 527.15 391.27 Td (6,770.9) Tj ET Q
BT /F1 10.00 Tf ET
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BT /F1 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 307.65 339.27 Td (17.7) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 331.50 339.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 373.15 339.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 389.50 339.27 Td ($) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.15 339.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 447.50 339.27 Td ($) 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 505.50 339.27 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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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 365.65 301.27 Td (95.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 423.65 301.27 Td (44.0) 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 534.65 301.27 Td (195.1) 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 489.15 288.27 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 534.65 288.27 Td (410.6) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 52.50 275.27 Td (Current portion of unearned revenues) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 204.00 275.27 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 360.65 275.27 Td (213.4) 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 217.36 262.27 Td (-sale) 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 /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
q 0 0 0 rg BT 360.65 249.27 Td (700.0) 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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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 /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 /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 /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 /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 /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 /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 /F1 9.00 Tf ET
q 0 0 0 rg BT 277.55 681.95 Td (Mer) Tj ET Q
q 0 0 0 rg BT 293.95 681.95 Td (edith) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 271.50 672.95 Td (Corporation) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 266.70 663.95 Td (\(Par) Tj ET Q
q 0 0 0 rg BT 283.61 663.95 Td (ent Issuer\)) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 337.30 672.95 Td (Guarantor) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 334.45 663.95 Td (Subsidiaries) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 406.45 681.95 Td (Non-) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 395.30 672.95 Td (Guarantor) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 392.45 663.95 Td (Subsidiaries) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 449.45 663.95 Td (Eliminations) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 506.70 663.95 Td (Consolidated) Tj ET Q
BT /F4 8.00 Tf ET
q 0 0 0 rg BT 52.00 648.75 Td (\(In millions\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 52.00 635.18 Td (Cash flows fr) Tj ET Q
q 0 0 0 rg BT 108.57 635.18 Td (om operating activities) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 206.50 635.07 Td (.....................) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 265.00 634.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 300.55 634.37 Td (240.0) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 332.00 634.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 364.05 634.37 Td (22.8) Tj ET Q
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q 0 0 0 rg BT 390.00 634.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 418.35 634.37 Td (\(44.2) Tj ET Q
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q 0 0 0 rg BT 441.30 634.37 Td (\)) Tj ET Q
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BT /F2 11.00 Tf ET
q 0 0 0 rg BT 488.30 634.37 Td (�) Tj ET Q
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q 0 0 0 rg BT 506.00 634.37 Td ($) Tj ET Q
BT /F2 11.00 Tf ET
q 0 0 0 rg BT 532.50 634.37 Td (218.6) Tj ET Q
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q 0 0 0 rg BT 146.50 597.07 Td (.............................................) Tj ET Q
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q 0 0 0 rg BT 304.45 598.17 Td (\(84.4) Tj ET Q
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q 0 0 0 rg BT 325.30 598.17 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 373.30 598.17 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.30 598.17 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 489.30 598.17 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 536.45 598.17 Td (\(84.4) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 557.30 598.17 Td (\)) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 64.00 584.07 Td (Proceeds from disposition of assets, net of cash) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 81.50 574.07 Td (.......................................................................) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 312.80 575.17 Td (1.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 373.30 575.17 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 431.30 575.17 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 489.30 575.17 Td (�) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 544.80 575.17 Td (1.5) Tj ET Q
BT /F2 10.00 Tf ET
q 0 0 0 rg BT 64.00 560.17 Td (Additions to property) Tj ET Q
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BT /F2 10.00 Tf ET
q 0 0 0 rg BT 239.00 560.07 Td (........) Tj ET Q
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
BT /F2 11.00 Tf ET
1 1 1 rg
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50.00 264.83 251.39 -10.00 re f
/GS0 gs
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1 1 1 rg
/GS0 gs
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/GS0 gs
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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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q 0 0 0 rg BT 279.54 85.60 Td (T) Tj ET Q
q 0 0 0 rg BT 285.87 85.60 Td (ime, the Money brand had been included in discontinued ) 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
q 0 0 0 rg BT 533.50 501.47 Td (1) 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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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
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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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440.13 261.13 95.60 -10.00 re f
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1 1 1 rg
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50.00 221.53 251.69 -10.00 re f
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BT /F2 11.00 Tf ET
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BT /F2 11.00 Tf ET
1 1 1 rg
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369.23 221.53 190.34 -10.00 re f
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BT /F2 11.00 Tf ET
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1 1 1 rg
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BT /F1 10.00 Tf ET
q 0 0 0 rg BT 319.15 695.38 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
q 0 0 0 rg BT 269.05 652.15 Td (Acquir) Tj ET Q
q 0 0 0 rg BT 295.89 652.15 Td (ed) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 314.85 673.70 Td (Charged to) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 318.85 662.90 Td (costs and) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 319.75 652.15 Td (expenses) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 367.85 673.70 Td (Charged to) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 379.30 662.90 Td (other) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 372.75 652.15 Td (accounts) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 433.95 652.15 Td (Deductions) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 491.85 673.70 Td (Balance at) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 500.10 662.90 Td (end of) Tj ET Q
BT /F1 9.00 Tf ET
q 0 0 0 rg BT 499.45 652.15 Td (period) Tj ET Q
BT /F4 9.00 Tf ET
q 0 0 0 rg BT 53.00 638.15 Td (\(In millions\)) Tj ET Q
BT /F1 10.00 Tf ET
q 0 0 0 rg BT 53.00 624.38 Td (Fiscal year) Tj ET Q
q 0 0 0 rg BT 99.28 624.38 Td ( ended June 30, 2019) Tj ET Q
BT /F2 10.00 Tf ET
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