%PDF-1.5 1 0 obj <> endobj 3 0 obj <> endobj 4 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 268.75 740.10 Td (UNITED ST) Tj ET Q q 0 0 0 rg BT 319.33 740.10 Td (A) Tj ET Q q 0 0 0 rg BT 325.44 740.10 Td (TES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.90 728.10 Td (SECURITIES ) Tj ET Q q 0 0 0 rg BT 256.52 728.10 Td (AND EXCHANGE COMMISSION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 716.10 Td (W) Tj ET Q q 0 0 0 rg BT 259.14 716.10 Td (ashington, D.C. 20549 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.30 692.10 Td (FORM 10-Q ) Tj ET Q /GS0 gs q 12.72 0 0 11.71 43.50 655.39 cm /I1 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.50 660.17 Td (QUAR) Tj ET Q q 0 0 0 rg BT 121.23 660.17 Td (TERL) Tj ET Q q 0 0 0 rg BT 145.23 660.17 Td (Y) Tj ET Q q 0 0 0 rg BT 152.08 660.17 Td ( REPOR) Tj ET Q q 0 0 0 rg BT 186.21 660.17 Td (T) Tj ET Q q 0 0 0 rg BT 192.14 660.17 Td ( PURSUANT) Tj ET Q q 0 0 0 rg BT 247.25 660.17 Td ( ) Tj ET Q q 0 0 0 rg BT 249.56 660.17 Td (T) Tj ET Q q 0 0 0 rg BT 255.49 660.17 Td (O SECTION 13 OR 15\(D\) OF ) Tj ET Q q 0 0 0 rg BT 380.31 660.17 Td (THE SECURITIES EXCHANGE ) Tj ET Q q 0 0 0 rg BT 518.36 660.17 Td (ACT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.50 650.17 Td (OF 1934) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.90 625.10 Td (For) Tj ET Q q 0 0 0 rg BT 216.27 625.10 Td ( the Quarterly Period Ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.98 625.10 Td (June30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.04 625.10 Td ( ) Tj ET Q /GS0 gs q 8.91 0 0 9.76 46.00 593.34 cm /I2 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 595.27 Td (TRANSITION REPOR) Tj ET Q q 0 0 0 rg BT 190.13 595.27 Td (T) Tj ET Q q 0 0 0 rg BT 196.05 595.27 Td ( PURSUANT) Tj ET Q q 0 0 0 rg BT 251.16 595.27 Td ( ) Tj ET Q q 0 0 0 rg BT 253.48 595.27 Td (T) Tj ET Q q 0 0 0 rg BT 259.41 595.27 Td (O SECTION 13 OR 15\(D\) OF ) Tj ET Q q 0 0 0 rg BT 384.23 595.27 Td (THE SECURITIES ) Tj ET Q q 0 0 0 rg BT 464.78 595.27 Td (ACT) Tj ET Q q 0 0 0 rg BT 484.60 595.27 Td ( OF 1934) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.45 579.10 Td (Commission File Number) Tj ET Q q 0 0 0 rg BT 336.71 579.10 Td ( 1-12434) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 251.2 548.4220703125 m 346.20390625 548.4220703125 l s q 0 0 0 rg BT 251.20 550.30 Td (M/I HOMES, INC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.20 550.30 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 218.90 540.70 Td (\(Exact name of registrant as specified in it charter\)) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 173.9 519.31259765625 m 195.0181640625 519.31259765625 l s q 0 0 0 rg BT 173.90 520.88 Td (Ohio) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 401.3 519.31259765625 m 449.630078125 519.31259765625 l s q 0 0 0 rg BT 401.30 520.88 Td (31-1210837) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 88.90 508.15 Td (\(State or other jurisdiction of incorporation or or) Tj ET Q q 0 0 0 rg BT 244.12 508.15 Td (ganization\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.40 508.15 Td (\(I.R.S. Employer Identification No.\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 201.6 483.31259765625 m 408.3041015625 483.31259765625 l s q 0 0 0 rg BT 201.60 484.88 Td (3 Easton Oval, Suite 500, Columbus, Ohio 43219) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.85 472.15 Td (\(Address of principal executive of) Tj ET Q q 0 0 0 rg BT 332.00 472.15 Td (fices\) \(Zip Code\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 273.75 447.31259765625 m 336.240234375 447.31259765625 l s q 0 0 0 rg BT 273.75 448.88 Td (\(614\) 418-8000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.30 436.15 Td (\(Registrant) Tj ET Q q 0 0 0 rg BT 258.07 436.15 Td (s telephone number) Tj ET Q q 0 0 0 rg BT 320.40 436.15 Td (, including area code\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 408.70 Td (Indicate ) Tj ET Q q 0 0 0 rg BT 84.09 408.70 Td (by ) Tj ET Q q 0 0 0 rg BT 96.47 408.70 Td (check ) Tj ET Q q 0 0 0 rg BT 122.17 408.70 Td (mark ) Tj ET Q q 0 0 0 rg BT 145.11 408.70 Td (whether ) Tj ET Q q 0 0 0 rg BT 179.70 408.70 Td (the ) Tj ET Q q 0 0 0 rg BT 194.30 408.70 Td (registrant ) Tj ET Q q 0 0 0 rg BT 234.45 408.70 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 248.49 408.70 Td (has ) Tj ET Q q 0 0 0 rg BT 264.21 408.70 Td (filed ) Tj ET Q q 0 0 0 rg BT 284.92 408.70 Td (all ) Tj ET Q q 0 0 0 rg BT 297.30 408.70 Td (reports ) Tj ET Q q 0 0 0 rg BT 327.45 408.70 Td (required ) Tj ET Q q 0 0 0 rg BT 363.15 408.70 Td (to ) Tj ET Q q 0 0 0 rg BT 373.32 408.70 Td (be ) Tj ET Q q 0 0 0 rg BT 385.14 408.70 Td (filed ) Tj ET Q q 0 0 0 rg BT 405.85 408.70 Td (by ) Tj ET Q q 0 0 0 rg BT 418.24 408.70 Td (Section ) Tj ET Q q 0 0 0 rg BT 450.62 408.70 Td (13 ) Tj ET Q q 0 0 0 rg BT 463.00 408.70 Td (or ) Tj ET Q q 0 0 0 rg BT 473.72 408.70 Td (15\(d\) ) Tj ET Q q 0 0 0 rg BT 497.76 408.70 Td (of ) Tj ET Q q 0 0 0 rg BT 508.48 408.70 Td (the ) Tj ET Q q 0 0 0 rg BT 523.08 408.70 Td (Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 396.70 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 91.38 396.70 Td (Act ) Tj ET Q q 0 0 0 rg BT 108.96 396.70 Td (of ) Tj ET Q q 0 0 0 rg BT 120.44 396.70 Td (1934 ) Tj ET Q q 0 0 0 rg BT 143.58 396.70 Td (during ) Tj ET Q q 0 0 0 rg BT 172.84 396.70 Td (the ) Tj ET Q q 0 0 0 rg BT 188.20 396.70 Td (preceding ) Tj ET Q q 0 0 0 rg BT 230.77 396.70 Td (12 ) Tj ET Q q 0 0 0 rg BT 243.92 396.70 Td (months ) Tj ET Q q 0 0 0 rg BT 276.51 396.70 Td (\(or ) Tj ET Q q 0 0 0 rg BT 291.32 396.70 Td (for ) Tj ET Q q 0 0 0 rg BT 306.12 396.70 Td (such ) Tj ET Q q 0 0 0 rg BT 327.60 396.70 Td (shorter ) Tj ET Q q 0 0 0 rg BT 358.51 396.70 Td (period ) Tj ET Q q 0 0 0 rg BT 387.21 396.70 Td (that ) Tj ET Q q 0 0 0 rg BT 405.35 396.70 Td (the ) Tj ET Q q 0 0 0 rg BT 420.71 396.70 Td (registrant ) Tj ET Q q 0 0 0 rg BT 461.62 396.70 Td (was ) Tj ET Q q 0 0 0 rg BT 480.32 396.70 Td (required ) Tj ET Q q 0 0 0 rg BT 516.78 396.70 Td (to ) Tj ET Q q 0 0 0 rg BT 527.70 396.70 Td (file ) Tj ET Q q 0 0 0 rg BT 544.17 396.70 Td (such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 384.70 Td (reports\), ) Tj ET Q q 0 0 0 rg BT 85.60 384.70 Td (and ) Tj ET Q q 0 0 0 rg BT 102.54 384.70 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 116.70 384.70 Td (has ) Tj ET Q q 0 0 0 rg BT 132.53 384.70 Td (been ) Tj ET Q q 0 0 0 rg BT 153.90 384.70 Td (subject ) Tj ET Q q 0 0 0 rg BT 184.73 384.70 Td (to ) Tj ET Q q 0 0 0 rg BT 195.01 384.70 Td (such ) Tj ET Q q 0 0 0 rg BT 215.84 384.70 Td (filing ) Tj ET Q q 0 0 0 rg BT 240.00 384.70 Td (requirements ) Tj ET Q q 0 0 0 rg BT 294.71 384.70 Td (for ) Tj ET Q q 0 0 0 rg BT 308.87 384.70 Td (the ) Tj ET Q q 0 0 0 rg BT 323.58 384.70 Td (past ) Tj ET Q q 0 0 0 rg BT 342.19 384.70 Td (90 ) Tj ET Q q 0 0 0 rg BT 354.69 384.70 Td (days. ) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 360.2 m 305.5 360.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 360.2 m 401.5 360.2 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.70 364.77 Td (Y) Tj ET Q q 0 0 0 rg BT 235.42 364.77 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.35 364.77 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.85 364.77 Td (No) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 336.70 Td (Indicate ) Tj ET Q q 0 0 0 rg BT 84.91 336.70 Td (by ) Tj ET Q q 0 0 0 rg BT 98.12 336.70 Td (check ) Tj ET Q q 0 0 0 rg BT 124.65 336.70 Td (mark ) Tj ET Q q 0 0 0 rg BT 148.40 336.70 Td (whether ) Tj ET Q q 0 0 0 rg BT 183.82 336.70 Td (the ) Tj ET Q q 0 0 0 rg BT 199.25 336.70 Td (registrant ) Tj ET Q q 0 0 0 rg BT 240.22 336.70 Td (has ) Tj ET Q q 0 0 0 rg BT 256.76 336.70 Td (submitted ) Tj ET Q q 0 0 0 rg BT 299.41 336.70 Td (electronically ) Tj ET Q q 0 0 0 rg BT 357.03 336.70 Td (and ) Tj ET Q q 0 0 0 rg BT 374.68 336.70 Td (posted ) Tj ET Q q 0 0 0 rg BT 404.00 336.70 Td (on ) Tj ET Q q 0 0 0 rg BT 417.21 336.70 Td (its ) Tj ET Q q 0 0 0 rg BT 429.87 336.70 Td (corporate ) Tj ET Q q 0 0 0 rg BT 470.60 336.70 Td (W) Tj ET Q q 0 0 0 rg BT 479.24 336.70 Td (eb ) Tj ET Q q 0 0 0 rg BT 491.88 336.70 Td (site, ) Tj ET Q q 0 0 0 rg BT 511.48 336.70 Td (if ) Tj ET Q q 0 0 0 rg BT 520.80 336.70 Td (any) Tj ET Q q 0 0 0 rg BT 534.59 336.70 Td (, ) Tj ET Q q 0 0 0 rg BT 540.30 336.70 Td (every ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 324.70 Td (Interactive ) Tj ET Q q 0 0 0 rg BT 94.23 324.70 Td (Data ) Tj ET Q q 0 0 0 rg BT 115.10 324.70 Td (File ) Tj ET Q q 0 0 0 rg BT 132.64 324.70 Td (required ) Tj ET Q q 0 0 0 rg BT 167.94 324.70 Td (to ) Tj ET Q q 0 0 0 rg BT 177.70 324.70 Td (be ) Tj ET Q q 0 0 0 rg BT 189.12 324.70 Td (submitted ) Tj ET Q q 0 0 0 rg BT 230.55 324.70 Td (and ) Tj ET Q q 0 0 0 rg BT 246.98 324.70 Td (posted ) Tj ET Q q 0 0 0 rg BT 275.07 324.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 311.49 324.70 Td (to ) Tj ET Q q 0 0 0 rg BT 321.26 324.70 Td (Rule ) Tj ET Q q 0 0 0 rg BT 342.13 324.70 Td (405 ) Tj ET Q q 0 0 0 rg BT 359.11 324.70 Td (of ) Tj ET Q q 0 0 0 rg BT 369.43 324.70 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 415.29 324.70 Td (S-T) Tj ET Q q 0 0 0 rg BT 430.11 324.70 Td ( ) Tj ET Q q 0 0 0 rg BT 432.10 324.70 Td (\(232.405 ) Tj ET Q q 0 0 0 rg BT 474.91 324.70 Td (of ) Tj ET Q q 0 0 0 rg BT 485.23 324.70 Td (this ) Tj ET Q q 0 0 0 rg BT 501.66 324.70 Td (chapter\) ) Tj ET Q q 0 0 0 rg BT 536.40 324.70 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 312.70 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 312.70 Td (preceding ) Tj ET Q q 0 0 0 rg BT 106.14 312.70 Td (12 ) Tj ET Q q 0 0 0 rg BT 118.64 312.70 Td (months ) Tj ET Q q 0 0 0 rg BT 150.59 312.70 Td (\(or ) Tj ET Q q 0 0 0 rg BT 164.75 312.70 Td (for ) Tj ET Q q 0 0 0 rg BT 178.91 312.70 Td (such ) Tj ET Q q 0 0 0 rg BT 199.74 312.70 Td (shorter ) Tj ET Q q 0 0 0 rg BT 230.01 312.70 Td (period ) Tj ET Q q 0 0 0 rg BT 258.05 312.70 Td (that ) Tj ET Q q 0 0 0 rg BT 275.55 312.70 Td (the ) Tj ET Q q 0 0 0 rg BT 290.27 312.70 Td (registrant ) Tj ET Q q 0 0 0 rg BT 330.53 312.70 Td (was ) Tj ET Q q 0 0 0 rg BT 348.58 312.70 Td (required ) Tj ET Q q 0 0 0 rg BT 384.40 312.70 Td (to ) Tj ET Q q 0 0 0 rg BT 394.68 312.70 Td (submit ) Tj ET Q q 0 0 0 rg BT 424.40 312.70 Td (and ) Tj ET Q q 0 0 0 rg BT 441.34 312.70 Td (post ) Tj ET Q q 0 0 0 rg BT 460.51 312.70 Td (such ) Tj ET Q q 0 0 0 rg BT 481.34 312.70 Td (files\).) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 288.2 m 305.5 288.2 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 288.2 m 401.5 288.2 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.70 292.77 Td (Y) Tj ET Q q 0 0 0 rg BT 235.42 292.77 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.35 292.77 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.85 292.77 Td (No) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 264.70 Td (Indicate ) Tj ET Q q 0 0 0 rg BT 84.68 264.70 Td (by ) Tj ET Q q 0 0 0 rg BT 97.66 264.70 Td (check ) Tj ET Q q 0 0 0 rg BT 123.96 264.70 Td (mark ) Tj ET Q q 0 0 0 rg BT 147.49 264.70 Td (whether ) Tj ET Q q 0 0 0 rg BT 182.68 264.70 Td (the ) Tj ET Q q 0 0 0 rg BT 197.87 264.70 Td (registrant ) Tj ET Q q 0 0 0 rg BT 238.62 264.70 Td (is ) Tj ET Q q 0 0 0 rg BT 248.27 264.70 Td (a ) Tj ET Q q 0 0 0 rg BT 255.69 264.70 Td (lar) Tj ET Q q 0 0 0 rg BT 266.06 264.70 Td (ge ) Tj ET Q q 0 0 0 rg BT 278.47 264.70 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 326.41 264.70 Td (filer) Tj ET Q q 0 0 0 rg BT 342.67 264.70 Td (, ) Tj ET Q q 0 0 0 rg BT 348.15 264.70 Td (an ) Tj ET Q q 0 0 0 rg BT 360.57 264.70 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 408.50 264.70 Td (filer) Tj ET Q q 0 0 0 rg BT 424.76 264.70 Td (, ) Tj ET Q q 0 0 0 rg BT 430.24 264.70 Td (a ) Tj ET Q q 0 0 0 rg BT 437.66 264.70 Td (non-accelerated ) Tj ET Q q 0 0 0 rg BT 503.93 264.70 Td (filer) Tj ET Q q 0 0 0 rg BT 520.18 264.70 Td (, ) Tj ET Q q 0 0 0 rg BT 525.66 264.70 Td (a ) Tj ET Q q 0 0 0 rg BT 533.08 264.70 Td (smaller ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 252.70 Td (reporting ) Tj ET Q q 0 0 0 rg BT 89.39 252.70 Td (company) Tj ET Q q 0 0 0 rg BT 125.39 252.70 Td (, ) Tj ET Q q 0 0 0 rg BT 131.13 252.70 Td (or ) Tj ET Q q 0 0 0 rg BT 142.69 252.70 Td (emer) Tj ET Q q 0 0 0 rg BT 162.49 252.70 Td (ging ) Tj ET Q q 0 0 0 rg BT 183.50 252.70 Td (growth ) Tj ET Q q 0 0 0 rg BT 215.07 252.70 Td (company) Tj ET Q q 0 0 0 rg BT 251.07 252.70 Td (. ) Tj ET Q q 0 0 0 rg BT 256.80 252.70 Td (See ) Tj ET Q q 0 0 0 rg BT 274.48 252.70 Td (the ) Tj ET Q q 0 0 0 rg BT 289.92 252.70 Td (definitions ) Tj ET Q q 0 0 0 rg BT 335.93 252.70 Td (of ) Tj ET Q q 0 0 0 rg BT 347.49 252.70 Td (lar) Tj ET Q q 0 0 0 rg BT 362.30 252.70 Td (ge ) Tj ET Q q 0 0 0 rg BT 374.97 252.70 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 423.16 252.70 Td (filer) Tj ET Q q 0 0 0 rg BT 439.41 252.70 Td (, ) Tj ET Q q 0 0 0 rg BT 449.58 252.70 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 502.21 252.70 Td (filer) Tj ET Q q 0 0 0 rg BT 518.46 252.70 Td (, ) Tj ET Q q 0 0 0 rg BT 528.64 252.70 Td (smaller ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 240.70 Td (reporting ) Tj ET Q q 0 0 0 rg BT 88.66 240.70 Td (company) Tj ET Q q 0 0 0 rg BT 124.66 240.70 Td (, ) Tj ET Q q 0 0 0 rg BT 134.10 240.70 Td (and ) Tj ET Q q 0 0 0 rg BT 151.04 240.70 Td (emer) Tj ET Q q 0 0 0 rg BT 175.28 240.70 Td (ging ) Tj ET Q q 0 0 0 rg BT 195.56 240.70 Td (growth ) Tj ET Q q 0 0 0 rg BT 226.39 240.70 Td (company ) Tj ET Q q 0 0 0 rg BT 269.98 240.70 Td (in ) Tj ET Q q 0 0 0 rg BT 280.26 240.70 Td (Rule ) Tj ET Q q 0 0 0 rg BT 301.65 240.70 Td (12b-2 ) Tj ET Q q 0 0 0 rg BT 327.48 240.70 Td (of ) Tj ET Q q 0 0 0 rg BT 338.31 240.70 Td (the ) Tj ET Q q 0 0 0 rg BT 353.03 240.70 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 394.40 240.70 Td (Act. ) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274 210.20000000000005 m 310 210.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501 210.20000000000005 m 537 210.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 274 192.20000000000005 m 310 192.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501 192.20000000000005 m 537 192.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501 192.20000000000005 m 537 192.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 501 174.20000000000005 m 537 174.20000000000005 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 214.77 Td (Lar) Tj ET Q q 0 0 0 rg BT 90.29 214.77 Td (ge ) Tj ET Q q 0 0 0 rg BT 102.13 214.77 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 149.59 214.77 Td (filer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 214.77 Td (Accelerated ) Tj ET Q q 0 0 0 rg BT 392.74 214.77 Td (filer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.85 214.77 Td (X) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 196.87 Td (Non-accelerated ) Tj ET Q q 0 0 0 rg BT 144.51 196.87 Td (filer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 196.87 Td (Smaller ) Tj ET Q q 0 0 0 rg BT 376.10 196.87 Td (reporting ) Tj ET Q q 0 0 0 rg BT 415.26 196.87 Td (company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 178.87 Td ( \(Do not check if a smaller reporting company\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 178.87 Td (Emer) Tj ET Q q 0 0 0 rg BT 363.97 178.87 Td (ging ) Tj ET Q q 0 0 0 rg BT 384.25 178.87 Td (growth ) Tj ET Q q 0 0 0 rg BT 415.08 178.87 Td (company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 156.87 Td (If an emer) Tj ET Q q 0 0 0 rg BT 117.40 156.87 Td (ging growth company) Tj ET Q q 0 0 0 rg BT 204.52 156.87 Td (, indicate by check mark if the registrant has elected not to use the extended transition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 146.87 Td (period for complying with any new or revised financial accounting standards provided pursuant to Section 13\(a\) of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 136.87 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 117.87 136.87 Td (Act. ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 137.31 134.71 cm /I3 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 108.70 Td (Indicate ) Tj ET Q q 0 0 0 rg BT 84.20 108.70 Td (by ) Tj ET Q q 0 0 0 rg BT 96.70 108.70 Td (check ) Tj ET Q q 0 0 0 rg BT 122.52 108.70 Td (mark ) Tj ET Q q 0 0 0 rg BT 145.56 108.70 Td (whether ) Tj ET Q q 0 0 0 rg BT 180.27 108.70 Td (the ) Tj ET Q q 0 0 0 rg BT 194.99 108.70 Td (registrant ) Tj ET Q q 0 0 0 rg BT 235.25 108.70 Td (is ) Tj ET Q q 0 0 0 rg BT 244.42 108.70 Td (a ) Tj ET Q q 0 0 0 rg BT 251.36 108.70 Td (shell ) Tj ET Q q 0 0 0 rg BT 272.75 108.70 Td (company ) Tj ET Q q 0 0 0 rg BT 311.90 108.70 Td (\(as ) Tj ET Q q 0 0 0 rg BT 326.06 108.70 Td (defined ) Tj ET Q q 0 0 0 rg BT 358.55 108.70 Td (in ) Tj ET Q q 0 0 0 rg BT 368.83 108.70 Td (Rule ) Tj ET Q q 0 0 0 rg BT 390.21 108.70 Td (12b-2 ) Tj ET Q q 0 0 0 rg BT 416.04 108.70 Td (of ) Tj ET Q q 0 0 0 rg BT 426.87 108.70 Td (the ) Tj ET Q q 0 0 0 rg BT 441.59 108.70 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 482.96 108.70 Td (Act\). ) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 84.20000000000005 m 305.5 84.20000000000005 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 84.20000000000005 m 401.5 84.20000000000005 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.70 88.77 Td (Y) Tj ET Q q 0 0 0 rg BT 235.42 88.77 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.85 88.77 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.85 88.77 Td (X) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 62.70 Td (Indicate ) Tj ET Q q 0 0 0 rg BT 84.20 62.70 Td (the ) Tj ET Q q 0 0 0 rg BT 98.92 62.70 Td (number ) Tj ET Q q 0 0 0 rg BT 131.97 62.70 Td (of ) Tj ET Q q 0 0 0 rg BT 142.80 62.70 Td (shares ) Tj ET Q q 0 0 0 rg BT 170.29 62.70 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 219.45 62.70 Td (of ) Tj ET Q q 0 0 0 rg BT 230.28 62.70 Td (each ) Tj ET Q q 0 0 0 rg BT 251.10 62.70 Td (of ) Tj ET Q q 0 0 0 rg BT 261.93 62.70 Td (the ) Tj ET Q q 0 0 0 rg BT 276.64 62.70 Td (issuer) Tj ET Q q 0 0 0 rg BT 300.34 62.70 Td () Tj ET Q q 0 0 0 rg BT 303.12 62.70 Td (s ) Tj ET Q q 0 0 0 rg BT 309.51 62.70 Td (classes ) Tj ET Q q 0 0 0 rg BT 339.78 62.70 Td (of ) Tj ET Q q 0 0 0 rg BT 350.61 62.70 Td (common ) Tj ET Q q 0 0 0 rg BT 388.11 62.70 Td (stock, ) Tj ET Q q 0 0 0 rg BT 414.22 62.70 Td (as ) Tj ET Q q 0 0 0 rg BT 425.05 62.70 Td (of ) Tj ET Q q 0 0 0 rg BT 435.88 62.70 Td (the ) Tj ET Q q 0 0 0 rg BT 450.59 62.70 Td (latest ) Tj ET Q q 0 0 0 rg BT 474.20 62.70 Td (practicable ) Tj ET Q q 0 0 0 rg BT 520.55 62.70 Td (date. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.35 50.70 Td (Common shares, par value $.01 per share: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.14 50.70 Td (28,570,853) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.14 50.70 Td ( shares outstanding as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.95 50.70 Td (July25, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.12 50.70 Td (.) Tj ET Q endstream endobj 5 0 obj <><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 6 0 R>> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.15 737.18 Td (M/I HOMES, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.90 723.18 Td (FORM 10-Q) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.65 695.18 Td (T) Tj ET Q q 0 0 0 rg BT 257.58 695.18 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 300.82 695.18 Td ( CONTENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 667.07 Td (P) Tj ET Q q 0 0 0 rg BT 57.10 667.07 Td (AR) Tj ET Q q 0 0 0 rg BT 70.23 667.07 Td (T) Tj ET Q q 0 0 0 rg BT 75.95 667.07 Td ( 1.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 667.07 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 195.70 667.07 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 243.58 667.07 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 639.07 Td (Item 1.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 639.07 Td (M/I Homes, Inc. and Subsidiaries Unaudited Condensed Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 629.07 Td (Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 601.07 Td (Unaudited Condensed Consolidated Balance Sheets at June 30, 2018 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 591.07 Td (December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 563.07 Td (Unaudited Condensed Consolidated Statements of Income for the ) Tj ET Q q 0 0 0 rg BT 489.85 563.07 Td (Three and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 553.07 Td (Six Months ended June 30, 2018 and 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 525.07 Td (Unaudited Condensed Consolidated Statement of Shareholders) Tj ET Q q 0 0 0 rg BT 479.85 525.07 Td ( Equity for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 515.07 Td (the Six Months Ended June 30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 487.07 Td (Unaudited Condensed Consolidated Statements of Cash Flows for the Six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 477.07 Td (Months Ended June 30, 2018 and 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 449.07 Td (Notes to Unaudited Condensed Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 421.07 Td (Item 2.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 421.07 Td (Management) Tj ET Q q 0 0 0 rg BT 280.26 421.07 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 349.43 421.07 Td (Analysis of Financial Condition and Results) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 411.07 Td (of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 383.07 Td (Item 3.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 383.07 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 0 rg BT 389.68 383.07 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 355.07 Td (Item 4.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 355.07 Td (Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 327.07 Td (P) Tj ET Q q 0 0 0 rg BT 57.10 327.07 Td (AR) Tj ET Q q 0 0 0 rg BT 70.23 327.07 Td (T) Tj ET Q q 0 0 0 rg BT 75.95 327.07 Td ( II.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 327.07 Td (OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 223.39 327.07 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 299.07 Td (Item 1.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 299.07 Td (Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 271.07 Td (Item 1A.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 271.07 Td (Risk Factors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 243.07 Td (Item 2.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 243.07 Td (Unregistered Sales of Equity Securities and Use of Proceeds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 215.07 Td (Item 3.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 215.07 Td (Defaults Upon Senior Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 187.07 Td (Item 4.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 187.07 Td (Mine Safety Disclosures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 159.07 Td (Item 5.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 159.07 Td (Other Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 131.07 Td (Item 6.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.00 131.07 Td (Exhibits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 103.07 Td (Signatures) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 545 589.8333984375 m 550 589.8333984375 l s q 0 0 1 rg BT 545.00 591.17 Td (3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 545 551.8333984375 m 550 551.8333984375 l s q 0 0 1 rg BT 545.00 553.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 545 513.8333984375 m 550 513.8333984375 l s q 0 0 1 rg BT 545.00 515.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 545 475.8333984375 m 550 475.8333984375 l s q 0 0 1 rg BT 545.00 477.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 545 447.7333984375 m 550 447.7333984375 l s q 0 0 1 rg BT 545.00 449.07 Td (7) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 409.8333984375 m 552.5 409.8333984375 l s q 0 0 1 rg BT 542.50 411.17 Td (31) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 381.7333984375 m 552.5 381.7333984375 l s q 0 0 1 rg BT 542.50 383.07 Td (53) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 353.7333984375 m 552.5 353.7333984375 l s q 0 0 1 rg BT 542.50 355.07 Td (55) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 297.7333984375 m 552.5 297.7333984375 l s q 0 0 1 rg BT 542.50 299.07 Td (55) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 269.7333984375 m 552.5 269.7333984375 l s q 0 0 1 rg BT 542.50 271.07 Td (55) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 241.7333984375 m 552.5 241.7333984375 l s q 0 0 1 rg BT 542.50 243.07 Td (55) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 213.7333984375 m 552.5 213.7333984375 l s q 0 0 1 rg BT 542.50 215.07 Td (56) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 185.7333984375 m 552.5 185.7333984375 l s q 0 0 1 rg BT 542.50 187.07 Td (56) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 157.7333984375 m 552.5 157.7333984375 l s q 0 0 1 rg BT 542.50 159.07 Td (56) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 129.7333984375 m 552.5 129.7333984375 l s q 0 0 1 rg BT 542.50 131.07 Td (57) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 542.5 101.7333984375 m 552.5 101.7333984375 l s q 0 0 1 rg BT 542.50 103.07 Td (58) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 7 0 obj <>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.80 716.10 Td (M/I HOMES, INC. ) Tj ET Q q 0 0 0 rg BT 300.42 716.10 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.75 704.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 311.86 704.10 Td (TED BALANCE SHEETS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 651.6 m 436 651.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 651.6 m 442 651.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 651.6 m 497 651.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 651.6 m 507 651.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 651.6 m 562 651.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 538.6 m 442 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 538.6 m 497 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 538.6 m 436 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 526.6 m 436 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 538.6 m 442 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 526.6 m 442 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 538.6 m 497 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 526.6 m 497 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 538.6 m 507 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 526.6 m 507 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 538.6 m 562 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 526.6 m 562 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 526.6 m 436 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 526.6 m 442 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 526.6 m 497 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 526.6 m 507 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 526.6 m 562 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 360.6 m 436 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 360.6 m 442 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 360.6 m 497 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 360.6 m 507 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 360.6 m 562 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 360.6 m 436 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 348.6 m 436 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 360.6 m 442 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 348.6 m 442 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 360.6 m 497 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 348.6 m 497 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 360.6 m 507 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 348.6 m 507 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 360.6 m 562 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 348.6 m 562 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 348.6 m 436 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 348.6 m 442 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 348.6 m 497 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 348.6 m 507 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 348.6 m 562 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 332.6 m 436 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 332.6 m 442 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 332.6 m 497 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 332.6 m 507 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 332.6 m 562 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 332.6 m 436 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 332.6 m 442 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 332.6 m 497 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 332.6 m 507 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 332.6 m 562 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 256.6 m 436 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 256.6 m 442 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 256.6 m 497 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 256.6 m 507 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 256.6 m 562 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 256.6 m 436 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 244.60000000000002 m 436 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 256.6 m 442 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 244.60000000000002 m 442 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 256.6 m 497 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 244.60000000000002 m 497 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 256.6 m 507 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 244.60000000000002 m 507 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 256.6 m 562 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 244.60000000000002 m 562 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 230.60000000000002 m 436 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 230.60000000000002 m 442 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 230.60000000000002 m 497 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 230.60000000000002 m 507 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 230.60000000000002 m 562 230.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 667.85 Td (\(Dollars in thousands, except par values\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.75 673.68 Td (June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.00 665.73 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.55 673.55 Td (December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.00 665.60 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.55 655.55 Td (\(unaudited\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 639.55 Td (ASSETS:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 627.55 Td (Cash, cash equivalents and restricted cash) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.50 627.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.80 627.68 Td (67,817) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.50 627.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 627.55 Td (151,703) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 615.55 Td (Mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.75 615.68 Td (108,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 615.55 Td (171,580) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 603.55 Td (Inventory) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.75 603.68 Td (1,652,468) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 603.55 Td (1,414,574) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 591.55 Td (Property and equipment - net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.80 591.68 Td (28,885) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 591.55 Td (26,816) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 579.55 Td (Investment in joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.80 579.68 Td (13,753) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 579.55 Td (20,525) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 566.85 Td (Deferred income tax asset) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.80 566.83 Td (17,528) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 566.85 Td (18,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 554.55 Td (Goodwill) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.80 554.68 Td (16,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 554.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 542.55 Td (Other assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.80 542.68 Td (65,689) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 542.55 Td (61,135) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 530.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.31 530.55 Td (OT) Tj ET Q q 0 0 0 rg BT 66.59 530.55 Td (AL) Tj ET Q q 0 0 0 rg BT 76.78 530.55 Td ( ) Tj ET Q q 0 0 0 rg BT 78.41 530.55 Td (ASSETS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.50 530.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.75 530.68 Td (1,970,540) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.50 530.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 530.55 Td (1,864,771) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 512.55 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 99.04 512.55 Td (AND SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 183.64 512.55 Td ( EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 496.55 Td (LIABILITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 484.55 Td (Accounts payable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.50 484.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.75 484.68 Td (141,491) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.50 484.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 484.55 Td (1) Tj ET Q q 0 0 0 rg BT 536.75 484.55 Td (17,233) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 472.55 Td (Customer deposits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.80 472.68 Td (41,510) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 472.55 Td (26,378) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 460.55 Td (Other liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.75 460.68 Td (1) Tj ET Q q 0 0 0 rg BT 471.75 460.68 Td (17,022) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 460.55 Td (131,534) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 448.55 Td (Community development district obligations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.80 448.68 Td (1) Tj ET Q q 0 0 0 rg BT 475.80 448.68 Td (1,789) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 448.55 Td (13,049) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 436.55 Td (Obligation for consolidated inventory not owned) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.80 436.68 Td (14,794) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 436.55 Td (21,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 424.55 Td (Notes payable bank - homebuilding operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.75 424.68 Td (181,800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 424.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 412.55 Td (Notes payable bank - financial services operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.80 412.68 Td (93,163) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 412.55 Td (168,195) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 400.55 Td (Notes payable - other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.80 400.68 Td (9,362) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 400.55 Td (10,576) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 388.55 Td (Convertible senior subordinated notes due 2018 - net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 388.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 388.55 Td (86,132) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 376.55 Td (Senior notes due 2021 - net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.75 376.68 Td (297,332) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 376.55 Td (296,780) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 364.55 Td (Senior notes due 2025 - net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.75 364.68 Td (246,31) Tj ET Q q 0 0 0 rg BT 489.75 364.68 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 364.55 Td (246,051) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 352.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.31 352.55 Td (OT) Tj ET Q q 0 0 0 rg BT 66.59 352.55 Td (AL) Tj ET Q q 0 0 0 rg BT 76.78 352.55 Td ( LIABILITIES) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.50 352.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.75 352.68 Td (1,154,574) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.50 352.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 352.55 Td (1,1) Tj ET Q q 0 0 0 rg BT 536.75 352.55 Td (17,473) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 336.55 Td (Commitments and contingencies \() Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 161.03515625 335.48671875 m 182.5859375 335.48671875 l s q 0 0 1 rg BT 161.04 336.55 Td (Note 6) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 182.59 336.55 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 336.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 336.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 318.55 Td (SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 116.98 318.55 Td ( EQUITY) Tj ET Q q 0 0 0 rg BT 148.09 318.55 Td (:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 305.85 Td (Common shares - $.01 par value; authorized 58,000,000 shares at both June 30, 2018 and December 31, 2017; ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 297.85 Td ( issued 30,137,141 and 29,508,626 shares at June 30, 2018 and December 31, 2017, respectively) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.80 297.83 Td (301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 297.85 Td (295) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 285.55 Td (Additional paid-in capital) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.75 285.68 Td (327,470) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 285.55 Td (306,483) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 273.55 Td (Retained earnings) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.75 273.68 Td (519,303) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 273.55 Td (473,329) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 260.85 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 260.85 Td (reasury shares - at cost - 1,566,288 and 1,651,874 shares at June 30, 2018 and December 31, 2017, respectively) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.10 260.83 Td (\(31,108) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.80 260.83 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 260.85 Td (\(32,809) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 260.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 248.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.31 248.55 Td (OT) Tj ET Q q 0 0 0 rg BT 66.59 248.55 Td (AL) Tj ET Q q 0 0 0 rg BT 76.78 248.55 Td ( SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 144.12 248.55 Td ( EQUITY) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.50 248.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.75 248.68 Td (815,966) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.50 248.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 248.55 Td (747,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 234.85 Td (T) Tj ET Q q 0 0 0 rg BT 56.24 234.85 Td (OT) Tj ET Q q 0 0 0 rg BT 66.27 234.85 Td (AL) Tj ET Q q 0 0 0 rg BT 76.63 234.85 Td ( LIABILITIES ) Tj ET Q q 0 0 0 rg BT 125.96 234.85 Td (AND SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 210.48 234.85 Td ( EQUITY) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.50 234.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.75 234.83 Td (1,970,540) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.50 234.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 234.85 Td (1,864,771) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 209.50 Td (See Notes to Unaudited Condensed Consolidated Financial Statements.) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.80 740.25 Td (M/I HOMES, INC. ) Tj ET Q q 0 0 0 rg BT 300.42 740.25 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 136.55 728.25 Td (UNAUDITED CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 324.72 728.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 359.27 728.25 Td (A) Tj ET Q q 0 0 0 rg BT 365.75 728.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 430.67 728.25 Td ( INCOME) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 679.75 m 326 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 679.75 m 379 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 679.75 m 386 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 679.75 m 439 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 679.75 m 326 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 679.75 m 379 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 679.75 m 386 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 679.75 m 439 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 679.75 m 449 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 679.75 m 502 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 679.75 m 509 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 679.75 m 562 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 569.75 m 326 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 556.75 m 326 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 569.75 m 379 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 556.75 m 379 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 569.75 m 386 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 556.75 m 386 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 569.75 m 439 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 556.75 m 439 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 569.75 m 449 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 556.75 m 449 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 569.75 m 502 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 556.75 m 502 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 569.75 m 509 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 556.75 m 509 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 569.75 m 562 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 556.75 m 562 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 556.75 m 326 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 556.75 m 379 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 556.75 m 386 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 556.75 m 439 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 556.75 m 449 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 556.75 m 502 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 556.75 m 509 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 556.75 m 562 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 537.75 m 326 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 537.75 m 379 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 537.75 m 386 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 537.75 m 439 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 537.75 m 449 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 537.75 m 502 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 537.75 m 509 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 537.75 m 562 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 537.75 m 326 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 537.75 m 379 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 537.75 m 386 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 537.75 m 439 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 537.75 m 449 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 537.75 m 502 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 537.75 m 509 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 537.75 m 562 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 518.75 m 326 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 518.75 m 379 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 518.75 m 386 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 518.75 m 439 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 518.75 m 449 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 518.75 m 502 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 518.75 m 509 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 518.75 m 562 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 518.75 m 326 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 518.75 m 379 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 518.75 m 386 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 518.75 m 439 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 518.75 m 449 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 518.75 m 502 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 518.75 m 509 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 518.75 m 562 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 499.75 m 326 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 499.75 m 379 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 499.75 m 386 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 499.75 m 439 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 499.75 m 449 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 499.75 m 502 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 499.75 m 509 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 499.75 m 562 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 499.75 m 326 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 499.75 m 379 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 499.75 m 386 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 499.75 m 439 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 499.75 m 449 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 499.75 m 502 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 499.75 m 509 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 499.75 m 562 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 478.75 m 326 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 478.75 m 379 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 478.75 m 386 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 478.75 m 439 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 478.75 m 449 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 478.75 m 502 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 478.75 m 509 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 478.75 m 562 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 459.75 m 326 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 459.75 m 379 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 459.75 m 386 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 459.75 m 439 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 459.75 m 449 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 459.75 m 502 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 459.75 m 509 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 459.75 m 562 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 414.75 m 326 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 414.75 m 379 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 414.75 m 386 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 414.75 m 439 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 414.75 m 449 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 414.75 m 502 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 414.75 m 509 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 414.75 m 562 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 414.75 m 326 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 414.75 m 379 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 414.75 m 386 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 414.75 m 439 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 414.75 m 449 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 414.75 m 502 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 414.75 m 509 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 414.75 m 562 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 369.75 m 326 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 369.75 m 379 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 369.75 m 386 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 369.75 m 439 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 369.75 m 449 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 369.75 m 502 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 369.75 m 509 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 369.75 m 562 369.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.35 696.98 Td (Thr) Tj ET Q q 0 0 0 rg BT 343.61 696.98 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.20 696.98 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 684.00 Td (\(In thousands, except per share amounts\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.00 683.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 684.00 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 683.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.00 684.00 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 665.00 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.50 664.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.75 664.98 Td (558,098) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.50 665.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 665.00 Td (456,866) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 664.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 664.98 Td (995,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 665.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 665.00 Td (863,846) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 652.00 Td (Costs and expenses:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 639.00 Td (Land and housing) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.75 638.98 Td (449,336) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 639.00 Td (367,598) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 638.98 Td (798,038) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 639.00 Td (687,879) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 626.00 Td (General and administrative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 625.98 Td (34,666) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 626.00 Td (30,1) Tj ET Q q 0 0 0 rg BT 427.75 626.00 Td (12) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 625.98 Td (62,617) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 626.00 Td (57,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 613.00 Td (Selling) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 612.98 Td (35,591) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 613.00 Td (30,247) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 612.98 Td (65,654) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 613.00 Td (57,530) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 600.00 Td (Acquisition and integration costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.80 599.98 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 600.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 599.98 Td (1,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 600.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 587.00 Td (Equity in loss \(income\) from joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.80 586.98 Td (86) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.10 587.00 Td (\(1) Tj ET Q q 0 0 0 rg BT 427.76 587.00 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.80 587.00 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.10 586.98 Td (\(224) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.80 586.98 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 587.00 Td (\(127) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 587.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 574.00 Td (Interest) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.80 573.98 Td (4,888) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 574.00 Td (3,834) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 573.98 Td (10,766) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 574.00 Td (9,172) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 561.00 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 561.00 Td (otal costs and expenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.75 560.98 Td (524,567) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 561.00 Td (431,681) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 560.98 Td (938,551) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 561.00 Td (812,326) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 542.00 Td (Income before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 541.98 Td (33,531) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 542.00 Td (25,185) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 541.98 Td (57,404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 542.00 Td (51,520) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 523.00 Td (Provision for income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.80 522.98 Td (5,620) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 523.00 Td (8,196) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 522.98 Td (1) Tj ET Q q 0 0 0 rg BT 480.75 522.98 Td (1,430) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 523.00 Td (17,648) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 504.00 Td (Net income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 503.98 Td (27,91) Tj ET Q q 0 0 0 rg BT 371.75 503.98 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 504.00 Td (16,989) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 503.98 Td (45,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 504.00 Td (33,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 483.00 Td (Preferred dividends) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.80 482.98 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 483.00 Td (1,219) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.80 482.98 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 483.00 Td (2,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 464.00 Td (Net income available to common shareholders) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.50 463.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 463.98 Td (27,91) Tj ET Q q 0 0 0 rg BT 371.75 463.98 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.50 464.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 464.00 Td (15,770) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 463.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 463.98 Td (45,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 464.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 464.00 Td (31,434) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 445.00 Td (Earnings per common share:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 432.00 Td (Basic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.50 431.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 431.98 Td (0.98) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.50 432.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 432.00 Td (0.63) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 431.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.80 431.98 Td (1.62) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 432.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 432.00 Td (1.26) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 419.00 Td (Diluted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.50 418.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 418.98 Td (0.96) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.50 419.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 419.00 Td (0.55) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 418.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.80 418.98 Td (1.56) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 419.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 419.00 Td (1.09) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 400.00 Td (W) Tj ET Q q 0 0 0 rg BT 58.41 400.00 Td (eighted average shares outstanding:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 387.00 Td (Basic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 386.98 Td (28,571) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 387.00 Td (24,990) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 386.98 Td (28,349) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 387.00 Td (24,864) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 374.00 Td (Diluted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 373.98 Td (29,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 374.00 Td (30,619) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 373.98 Td (29,818) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 374.00 Td (30,471) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 351.05 Td (See Notes to Unaudited Condensed Consolidated Financial Statements.) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.80 740.25 Td (M/I HOMES, INC. ) Tj ET Q q 0 0 0 rg BT 300.42 740.25 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 96.75 728.25 Td (UNAUDITED CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 284.92 728.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 319.47 728.25 Td (A) Tj ET Q q 0 0 0 rg BT 325.95 728.25 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 369.11 728.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 385.13 728.25 Td ( SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 473.57 728.25 Td ( EQUITY) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 695.75 m 328 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 695.75 m 332 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 695.75 m 368 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 695.75 m 372 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 695.75 m 417 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 695.75 m 421 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 695.75 m 462 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462 695.75 m 466 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 695.75 m 508 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 695.75 m 512 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 695.75 m 562 695.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 683.75 m 328 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 683.75 m 332 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 683.75 m 368 683.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 656.75 m 280 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 656.75 m 328 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 656.75 m 332 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 656.75 m 368 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 656.75 m 372 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 656.75 m 417 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 656.75 m 421 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 656.75 m 462 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462 656.75 m 466 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 656.75 m 508 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 656.75 m 512 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 656.75 m 562 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 572.75 m 280 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 572.75 m 328 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 572.75 m 332 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 572.75 m 368 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 572.75 m 372 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 572.75 m 417 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 572.75 m 421 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 572.75 m 462 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462 572.75 m 466 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 572.75 m 508 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 572.75 m 512 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 572.75 m 562 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 560.75 m 280 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 560.75 m 328 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 560.75 m 332 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 560.75 m 368 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 560.75 m 372 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 560.75 m 417 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 560.75 m 421 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 560.75 m 462 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462 560.75 m 466 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 560.75 m 508 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 560.75 m 512 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 560.75 m 562 560.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.70 697.88 Td (Six Months Ended June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.90 687.70 Td (Common Shares) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.80 669.00 Td (Shares) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.90 661.00 Td (Outstanding) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.85 675.70 Td (Additional) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.40 667.70 Td (Paid-in) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.40 659.70 Td (Capital) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.75 669.00 Td (Retained) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.75 661.00 Td (Earnings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.40 669.00 Td (T) Tj ET Q q 0 0 0 rg BT 477.15 669.00 Td (reasury) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.80 661.00 Td (Shares) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.30 675.70 Td (T) Tj ET Q q 0 0 0 rg BT 532.91 675.70 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.55 667.70 Td (Shareholders) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.80 659.70 Td (Equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 661.00 Td (\(Dollars in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.35 661.00 Td (Amount) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 648.70 Td (Balance at December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.75 648.70 Td (27,856,752) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.50 648.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.80 648.70 Td (295) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.50 648.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.75 648.70 Td (306,483) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.50 648.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.75 648.70 Td (473,329) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.50 648.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.10 648.70 Td (\(32,809) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 648.70 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.50 648.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 648.70 Td (747,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 636.70 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.80 636.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.80 636.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.80 636.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.75 636.70 Td (45,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 636.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 636.70 Td (45,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 624.70 Td (Common share issuance for conversion of convertible notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.75 624.70 Td (628,515) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.80 624.70 Td (6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.75 624.70 Td (20,303) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 624.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 624.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 624.70 Td (20,309) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 612.70 Td (Stock options exercised) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.75 612.70 Td (24,220) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.80 612.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.10 612.70 Td (\(56) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 612.70 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 612.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.75 612.70 Td (482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 612.70 Td (426) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 600.70 Td (Stock-based compensation expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.80 600.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.80 600.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.75 600.70 Td (2,730) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 600.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 600.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.75 600.70 Td (2,730) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 588.70 Td (Deferral of executive and director compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.80 588.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.80 588.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.80 588.70 Td (184) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 588.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 588.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 588.70 Td (184) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 576.70 Td (Executive and director deferred compensation distributions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.75 576.70 Td (61,366) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.80 576.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.10 576.70 Td (\(2,174) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 576.70 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 576.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 486.75 576.70 Td (1,219) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 576.70 Td (\(955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 576.70 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 564.83 Td (Balance at June 30, 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 288.75 564.83 Td (28,570,853) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.50 564.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.80 564.83 Td (301) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.50 564.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.75 564.83 Td (327,470) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.50 564.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.75 564.83 Td (519,303) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.50 564.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.10 564.83 Td (\(31,108) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.80 564.83 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.50 564.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 564.83 Td (815,966) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 542.05 Td (See Notes to Unaudited Condensed Consolidated Financial Statements.) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.80 749.25 Td (M/I HOMES, INC. ) Tj ET Q q 0 0 0 rg BT 309.42 749.25 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 124.45 737.25 Td (UNAUDITED CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 312.62 737.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 347.17 737.25 Td (A) Tj ET Q q 0 0 0 rg BT 353.65 737.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 418.57 737.25 Td ( CASH FLOWS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 703.75 m 435.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 703.75 m 493.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 703.75 m 503.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 703.75 m 561.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 703.75 m 435.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 703.75 m 493.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 703.75 m 503.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 703.75 m 561.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 503.75 m 435.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 503.75 m 493.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 503.75 m 503.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 503.75 m 561.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 503.75 m 435.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 493.75 m 435.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 503.75 m 493.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 493.75 m 493.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 503.75 m 503.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 493.75 m 503.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 503.75 m 561.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 493.75 m 561.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 493.75 m 435.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 493.75 m 493.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 493.75 m 503.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 493.75 m 561.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 426.75 m 435.5 426.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 416.75 m 435.5 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 426.75 m 493.5 426.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 416.75 m 493.5 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 426.75 m 503.5 426.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 416.75 m 503.5 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 426.75 m 561.5 426.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 416.75 m 561.5 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 416.75 m 435.5 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 416.75 m 493.5 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 416.75 m 503.5 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 416.75 m 561.5 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 318.75 m 435.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 308.75 m 435.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 318.75 m 493.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 308.75 m 493.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 318.75 m 503.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 308.75 m 503.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 318.75 m 561.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 308.75 m 561.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 308.75 m 435.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 308.75 m 493.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 308.75 m 503.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 308.75 m 561.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 288.75 m 435.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 288.75 m 493.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 288.75 m 503.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 288.75 m 561.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 288.75 m 435.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 288.75 m 493.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 288.75 m 503.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 288.75 m 561.5 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 278.75 m 435.5 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 278.75 m 493.5 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 278.75 m 503.5 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 278.75 m 561.5 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 169.75 m 435.5 169.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 169.75 m 493.5 169.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 169.75 m 503.5 169.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 169.75 m 561.5 169.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.20 717.98 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 705.75 Td (\(Dollars in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.00 705.88 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 705.75 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 695.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 77.78 695.75 Td (TING ) Tj ET Q q 0 0 0 rg BT 98.22 695.75 Td (ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 685.75 Td (Net income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.00 685.88 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 685.88 Td (45,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.00 685.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 685.75 Td (33,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 675.75 Td (Adjustments to reconcile net income to net cash used in operating activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 665.75 Td (Equity in income from joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.60 665.88 Td (\(224) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 665.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.60 665.75 Td (\(127) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 665.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 655.75 Td (Mortgage loan originations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.60 655.88 Td (\(519,802) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 655.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 655.75 Td (\(468,832) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 655.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 645.75 Td (Proceeds from the sale of mortgage loans) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.25 645.88 Td (584,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 645.75 Td (535,256) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 635.75 Td (Fair value adjustment of mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 635.88 Td (\(1,318) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 635.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 635.75 Td (\(4,390) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 635.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 625.75 Td (Capitalization of originated mortgage servicing rights) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 625.88 Td (\(2,486) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 625.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 625.75 Td (\(2,239) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 625.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 615.75 Td (Amortization of mortgage servicing rights) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.30 615.88 Td (383) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 615.75 Td (546) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 605.75 Td (Depreciation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 605.88 Td (5,278) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 605.75 Td (4,608) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 595.75 Td (Amortization of debt discount and debt issue costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 595.88 Td (1,443) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 595.75 Td (1,712) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 585.75 Td (Stock-based compensation expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 585.88 Td (2,730) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 585.75 Td (2,566) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 575.75 Td (Deferred income tax expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.30 575.88 Td (910) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 575.75 Td (797) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 565.75 Td (Change in assets and liabilities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 555.75 Td (Inventory) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.60 555.88 Td (\(137,689) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 555.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 555.75 Td (\(146,171) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 555.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 545.75 Td (Other assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 545.88 Td (\(4,166) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 545.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 545.75 Td (1,897) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 535.75 Td (Accounts payable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 535.88 Td (13,730) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 535.75 Td (9,860) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 525.75 Td (Customer deposits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 525.88 Td (10,976) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 525.75 Td (7,499) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 515.75 Td (Accrued compensation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.60 515.88 Td (\(15,467) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 515.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 515.75 Td (\(13,415) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 515.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 505.75 Td (Other liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 505.88 Td (\(4,673) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 505.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 505.75 Td (\(2,759) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 505.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 495.75 Td (Net cash used in operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.60 495.88 Td (\(19,701) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 495.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 495.75 Td (\(39,320) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 495.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 478.75 Td (INVESTING ) Tj ET Q q 0 0 0 rg BT 96.44 478.75 Td (ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 468.75 Td (Purchase of property and equipment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 468.88 Td (\(4,615) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 468.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 468.75 Td (\(1,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 468.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 458.75 Td (Return of capital from joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.30 458.88 Td (676) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 458.75 Td (1,078) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 448.75 Td (Acquisition) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.60 448.88 Td (\(100,960) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 448.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 448.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 438.75 Td (Investment in joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 438.88 Td (\(4,321) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 438.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 438.75 Td (\(5,807) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 438.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 428.75 Td (Net proceeds from sale of mortgage servicing rights) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 428.88 Td (5,1) Tj ET Q q 0 0 0 rg BT 482.30 428.88 Td (1) Tj ET Q q 0 0 0 rg BT 486.30 428.88 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 428.75 Td (7,558) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 418.75 Td (Net cash \(used in\) provided by investing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.60 418.88 Td (\(104,109) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 418.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.30 418.75 Td (957) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 400.75 Td (FINANCING ) Tj ET Q q 0 0 0 rg BT 97.78 400.75 Td (ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 390.75 Td (Repayment of convertible senior subordinated notes due 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.60 390.88 Td (\(65,941) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 390.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 390.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 380.75 Td (Proceeds from bank borrowings - homebuilding operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.25 380.88 Td (353,900) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.25 380.75 Td (289,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 370.75 Td (Repayment of bank borrowings - homebuilding operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.60 370.88 Td (\(172,100) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 370.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 370.75 Td (\(191,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 370.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 360.75 Td (Net repayment of bank borrowings - financial services operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.60 360.88 Td (\(75,032) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 360.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 360.75 Td (\(63,377) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 360.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 350.75 Td (Principal repayment of notes payable - other and community development district bond obligations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 350.88 Td (\(1,214) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 350.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 350.75 Td (\(2,752) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 350.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 340.75 Td (Dividends paid on preferred shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 482.30 340.88 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 340.75 Td (\(2,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 340.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 330.75 Td (Debt issue costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.60 330.88 Td (\(1) Tj ET Q q 0 0 0 rg BT 482.26 330.88 Td (15) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 330.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.60 330.75 Td (\(63) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 330.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 320.75 Td (Proceeds from exercise of stock options) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.30 320.88 Td (426) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 320.75 Td (4,792) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 310.75 Td (Net cash provided by financing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 310.88 Td (39,924) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 310.75 Td (33,862) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 300.75 Td (Net decrease in cash, cash equivalents and restricted cash) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.60 300.88 Td (\(83,886) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 300.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 300.75 Td (\(4,501) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 300.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 290.75 Td (Cash, ) Tj ET Q q 0 0 0 rg BT 72.00 290.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 88.21 290.75 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 126.65 290.75 Td (and ) Tj ET Q q 0 0 0 rg BT 140.20 290.75 Td (restricted ) Tj ET Q q 0 0 0 rg BT 171.96 290.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 188.18 290.75 Td (balance ) Tj ET Q q 0 0 0 rg BT 214.60 290.75 Td (at ) Tj ET Q q 0 0 0 rg BT 222.38 290.75 Td (beginning ) Tj ET Q q 0 0 0 rg BT 256.37 290.75 Td (of ) Tj ET Q q 0 0 0 rg BT 265.04 290.75 Td (period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.25 290.88 Td (151,703) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 290.75 Td (34,441) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 280.75 Td (Cash, cash equivalents and restricted cash balance at end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.00 280.88 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 280.88 Td (67,817) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.00 280.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 280.75 Td (29,940) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 262.75 Td (SUPPLEMENT) Tj ET Q q 0 0 0 rg BT 102.92 262.75 Td (AL) Tj ET Q q 0 0 0 rg BT 113.29 262.75 Td ( ) Tj ET Q q 0 0 0 rg BT 115.29 262.75 Td (DISCLOSURE ) Tj ET Q q 0 0 0 rg BT 166.63 262.75 Td (OF ) Tj ET Q q 0 0 0 rg BT 178.86 262.75 Td (CASH ) Tj ET Q q 0 0 0 rg BT 202.20 262.75 Td (FLOW) Tj ET Q q 0 0 0 rg BT 224.71 262.75 Td ( ) Tj ET Q q 0 0 0 rg BT 226.71 262.75 Td (INFORMA) Tj ET Q q 0 0 0 rg BT 262.72 262.75 Td (TION:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 252.75 Td (Cash paid during the year for:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 242.75 Td (Interest net of amount capitalized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.00 242.88 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.30 242.88 Td (9,643) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.00 242.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 242.75 Td (7,381) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 232.75 Td (Income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.00 232.88 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 232.88 Td (10,176) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.00 232.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 232.75 Td (17,770) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 215.75 Td (NON-CASH ) Tj ET Q q 0 0 0 rg BT 95.19 215.75 Td (TRANSACTIONS DURING ) Tj ET Q q 0 0 0 rg BT 191.05 215.75 Td (THE PERIOD:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 205.75 Td (Community development district infrastructure) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.00 205.88 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 205.88 Td (\(1,260) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 205.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.00 205.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 205.75 Td (5,399) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 195.75 Td (Consolidated inventory not owned) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.00 195.88 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 195.88 Td (\(6,751) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.30 195.88 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.00 195.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 195.75 Td (4,735) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 185.75 Td (Distribution of single-family lots from joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.00 185.88 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 185.88 Td (10,641) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.00 185.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 185.75 Td (9,995) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 175.75 Td (Common stock issued for conversion of convertible notes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.00 175.88 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.30 175.88 Td (20,309) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.00 175.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 175.75 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 151.05 Td (See Notes to Unaudited Condensed Consolidated Financial Statements.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.80 740.25 Td (M/I HOMES, INC. ) Tj ET Q q 0 0 0 rg BT 300.42 740.25 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.10 728.25 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 165.32 728.25 Td (T) Tj ET Q q 0 0 0 rg BT 171.81 728.25 Td (O UNAUDITED CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 370.26 728.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 449.44 728.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.43 728.25 Td (A) Tj ET Q q 0 0 0 rg BT 469.91 728.25 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.34 704.25 Td (1. ) Tj ET Q q 0 0 0 rg BT 90.34 704.25 Td (Basis ) Tj ET Q q 0 0 0 rg BT 115.07 704.25 Td (of ) Tj ET Q q 0 0 0 rg BT 125.90 704.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 136.27 704.25 Td (esentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.22 680.25 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 127.70 680.25 Td (Unaudited ) Tj ET Q q 0 0 0 rg BT 171.52 680.25 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 218.13 680.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 273.07 680.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 312.45 680.25 Td (Statements ) Tj ET Q q 0 0 0 rg BT 358.50 680.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 376.22 680.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 417.81 680.25 Td (statements\) ) Tj ET Q q 0 0 0 rg BT 469.96 680.25 Td (of ) Tj ET Q q 0 0 0 rg BT 480.46 680.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 497.63 680.25 Td (Homes, ) Tj ET Q q 0 0 0 rg BT 530.63 680.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 548.07 680.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.25 Td (its ) Tj ET Q q 0 0 0 rg BT 60.67 668.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 109.60 668.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 126.87 668.25 Td (Company\) ) Tj ET Q q 0 0 0 rg BT 179.68 668.25 Td (and ) Tj ET Q q 0 0 0 rg BT 195.83 668.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 218.66 668.25 Td (thereto ) Tj ET Q q 0 0 0 rg BT 248.14 668.25 Td (have ) Tj ET Q q 0 0 0 rg BT 268.74 668.25 Td (been ) Tj ET Q q 0 0 0 rg BT 289.33 668.25 Td (prepared ) Tj ET Q q 0 0 0 rg BT 326.02 668.25 Td (in ) Tj ET Q q 0 0 0 rg BT 335.52 668.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 382.20 668.25 Td (with ) Tj ET Q q 0 0 0 rg BT 401.69 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 415.63 668.25 Td (rules ) Tj ET Q q 0 0 0 rg BT 436.79 668.25 Td (and ) Tj ET Q q 0 0 0 rg BT 452.94 668.25 Td (regulations ) Tj ET Q q 0 0 0 rg BT 499.09 668.25 Td (of ) Tj ET Q q 0 0 0 rg BT 509.14 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.08 668.25 Td (Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.73 656.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 108.95 656.25 Td (Commission ) Tj ET Q q 0 0 0 rg BT 162.31 656.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 180.66 656.25 Td (SEC\) ) Tj ET Q q 0 0 0 rg BT 214.00 656.25 Td (for ) Tj ET Q q 0 0 0 rg BT 228.46 656.25 Td (interim ) Tj ET Q q 0 0 0 rg BT 260.13 656.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 297.91 656.25 Td (information. ) Tj ET Q q 0 0 0 rg BT 350.42 656.25 Td ( ) Tj ET Q q 0 0 0 rg BT 353.01 656.25 Td (The ) Tj ET Q q 0 0 0 rg BT 371.35 656.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 409.13 656.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 454.13 656.25 Td (include ) Tj ET Q q 0 0 0 rg BT 486.36 656.25 Td (the ) Tj ET Q q 0 0 0 rg BT 501.38 656.25 Td (accounts ) Tj ET Q q 0 0 0 rg BT 539.16 656.25 Td (of ) Tj ET Q q 0 0 0 rg BT 550.28 656.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (Company) Tj ET Q q 0 0 0 rg BT 87.74 644.25 Td (. ) Tj ET Q q 0 0 0 rg BT 93.01 644.25 Td ( ) Tj ET Q q 0 0 0 rg BT 95.18 644.25 Td (All ) Tj ET Q q 0 0 0 rg BT 110.73 644.25 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 168.49 644.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 219.03 644.25 Td (have ) Tj ET Q q 0 0 0 rg BT 240.68 644.25 Td (been ) Tj ET Q q 0 0 0 rg BT 262.33 644.25 Td (eliminated. ) Tj ET Q q 0 0 0 rg BT 309.81 644.25 Td ( ) Tj ET Q q 0 0 0 rg BT 312.59 644.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 344.81 644.25 Td (for ) Tj ET Q q 0 0 0 rg BT 359.25 644.25 Td (the ) Tj ET Q q 0 0 0 rg BT 374.24 644.25 Td (interim ) Tj ET Q q 0 0 0 rg BT 405.90 644.25 Td (period ) Tj ET Q q 0 0 0 rg BT 434.22 644.25 Td (are ) Tj ET Q q 0 0 0 rg BT 449.21 644.25 Td (not ) Tj ET Q q 0 0 0 rg BT 464.76 644.25 Td (necessarily ) Tj ET Q q 0 0 0 rg BT 511.96 644.25 Td (indicative ) Tj ET Q q 0 0 0 rg BT 554.17 644.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (results ) Tj ET Q q 0 0 0 rg BT 78.11 632.25 Td (for ) Tj ET Q q 0 0 0 rg BT 92.28 632.25 Td (a ) Tj ET Q q 0 0 0 rg BT 99.23 632.25 Td (full ) Tj ET Q q 0 0 0 rg BT 115.62 632.25 Td (year) Tj ET Q q 0 0 0 rg BT 132.27 632.25 Td (. ) Tj ET Q q 0 0 0 rg BT 137.28 632.25 Td (In ) Tj ET Q q 0 0 0 rg BT 148.12 632.25 Td (the ) Tj ET Q q 0 0 0 rg BT 162.84 632.25 Td (opinion ) Tj ET Q q 0 0 0 rg BT 195.90 632.25 Td (of ) Tj ET Q q 0 0 0 rg BT 206.74 632.25 Td (management, ) Tj ET Q q 0 0 0 rg BT 262.83 632.25 Td (the ) Tj ET Q q 0 0 0 rg BT 277.56 632.25 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 338.38 632.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 375.86 632.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 420.58 632.25 Td (reflect ) Tj ET Q q 0 0 0 rg BT 448.62 632.25 Td (all ) Tj ET Q q 0 0 0 rg BT 461.12 632.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 511.40 632.25 Td (\(all ) Tj ET Q q 0 0 0 rg BT 527.23 632.25 Td (of ) Tj ET Q q 0 0 0 rg BT 538.07 632.25 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.25 Td (are ) Tj ET Q q 0 0 0 rg BT 64.28 620.25 Td (normal ) Tj ET Q q 0 0 0 rg BT 95.18 620.25 Td (and ) Tj ET Q q 0 0 0 rg BT 112.19 620.25 Td (recurring ) Tj ET Q q 0 0 0 rg BT 151.41 620.25 Td (in ) Tj ET Q q 0 0 0 rg BT 161.76 620.25 Td (nature\) ) Tj ET Q q 0 0 0 rg BT 192.65 620.25 Td (necessary ) Tj ET Q q 0 0 0 rg BT 234.09 620.25 Td (for ) Tj ET Q q 0 0 0 rg BT 248.32 620.25 Td (a ) Tj ET Q q 0 0 0 rg BT 255.33 620.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 271.79 620.25 Td (presentation ) Tj ET Q q 0 0 0 rg BT 323.23 620.25 Td (of ) Tj ET Q q 0 0 0 rg BT 334.13 620.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 371.69 620.25 Td (results ) Tj ET Q q 0 0 0 rg BT 400.37 620.25 Td (for ) Tj ET Q q 0 0 0 rg BT 414.60 620.25 Td (the ) Tj ET Q q 0 0 0 rg BT 429.39 620.25 Td (interim ) Tj ET Q q 0 0 0 rg BT 460.85 620.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 492.86 620.25 Td (presented. ) Tj ET Q q 0 0 0 rg BT 536.25 620.25 Td ( ) Tj ET Q q 0 0 0 rg BT 538.64 620.25 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.05 608.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 131.83 608.25 Td (should ) Tj ET Q q 0 0 0 rg BT 161.07 608.25 Td (be ) Tj ET Q q 0 0 0 rg BT 173.08 608.25 Td (read ) Tj ET Q q 0 0 0 rg BT 192.86 608.25 Td (in ) Tj ET Q q 0 0 0 rg BT 203.21 608.25 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 252.99 608.25 Td (with ) Tj ET Q q 0 0 0 rg BT 273.33 608.25 Td (the ) Tj ET Q q 0 0 0 rg BT 288.12 608.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 343.46 608.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 383.25 608.25 Td (Statements ) Tj ET Q q 0 0 0 rg BT 429.70 608.25 Td (and ) Tj ET Q q 0 0 0 rg BT 446.71 608.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 472.61 608.25 Td (thereto ) Tj ET Q q 0 0 0 rg BT 502.94 608.25 Td (included ) Tj ET Q q 0 0 0 rg BT 539.94 608.25 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 608.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.25 Td (Company) Tj ET Q q 0 0 0 rg BT 91.17 596.25 Td (s ) Tj ET Q q 0 0 0 rg BT 97.00 596.25 Td (Annual ) Tj ET Q q 0 0 0 rg BT 128.94 596.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 158.66 596.25 Td (on ) Tj ET Q q 0 0 0 rg BT 171.16 596.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 195.33 596.25 Td (10-K ) Tj ET Q q 0 0 0 rg BT 218.38 596.25 Td (for ) Tj ET Q q 0 0 0 rg BT 232.54 596.25 Td (the ) Tj ET Q q 0 0 0 rg BT 247.26 596.25 Td (year ) Tj ET Q q 0 0 0 rg BT 266.97 596.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.34 596.25 Td (December ) Tj ET Q q 0 0 0 rg BT 336.93 596.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 351.93 596.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.93 596.25 Td ( ) Tj ET Q q 0 0 0 rg BT 374.43 596.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 392.47 596.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.91 596.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.91 596.25 Td ( ) Tj ET Q q 0 0 0 rg BT 419.41 596.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 443.58 596.25 Td (10-K\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.25 Td (The ) Tj ET Q q 0 0 0 rg BT 66.66 572.25 Td (preparation ) Tj ET Q q 0 0 0 rg BT 113.81 572.25 Td (of ) Tj ET Q q 0 0 0 rg BT 123.75 572.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 160.34 572.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 204.17 572.25 Td (in ) Tj ET Q q 0 0 0 rg BT 213.56 572.25 Td (conformity ) Tj ET Q q 0 0 0 rg BT 259.61 572.25 Td (with ) Tj ET Q q 0 0 0 rg BT 279.00 572.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 324.49 572.25 Td (principles ) Tj ET Q q 0 0 0 rg BT 365.54 572.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 404.35 572.25 Td (accepted ) Tj ET Q q 0 0 0 rg BT 440.94 572.25 Td (in ) Tj ET Q q 0 0 0 rg BT 450.33 572.25 Td (the ) Tj ET Q q 0 0 0 rg BT 464.16 572.25 Td (United ) Tj ET Q q 0 0 0 rg BT 492.99 572.25 Td (States ) Tj ET Q q 0 0 0 rg BT 518.49 572.25 Td (of ) Tj ET Q q 0 0 0 rg BT 528.08 572.25 Td (America ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (requires ) Tj ET Q q 0 0 0 rg BT 84.06 560.25 Td (management ) Tj ET Q q 0 0 0 rg BT 137.50 560.25 Td (to ) Tj ET Q q 0 0 0 rg BT 147.63 560.25 Td (make ) Tj ET Q q 0 0 0 rg BT 171.64 560.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 211.20 560.25 Td (and ) Tj ET Q q 0 0 0 rg BT 228.00 560.25 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 279.80 560.25 Td (that ) Tj ET Q q 0 0 0 rg BT 297.14 560.25 Td (af) Tj ET Q q 0 0 0 rg BT 304.73 560.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 322.07 560.25 Td (the ) Tj ET Q q 0 0 0 rg BT 336.64 560.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 372.31 560.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 408.55 560.25 Td (of ) Tj ET Q q 0 0 0 rg BT 419.23 560.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 444.91 560.25 Td (and ) Tj ET Q q 0 0 0 rg BT 461.70 560.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 501.27 560.25 Td (and ) Tj ET Q q 0 0 0 rg BT 518.06 560.25 Td (disclosures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.25 Td (of ) Tj ET Q q 0 0 0 rg BT 59.79 548.25 Td (contingent ) Tj ET Q q 0 0 0 rg BT 103.97 548.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 129.27 548.25 Td (and ) Tj ET Q q 0 0 0 rg BT 145.67 548.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 184.85 548.25 Td (at ) Tj ET Q q 0 0 0 rg BT 194.03 548.25 Td (the ) Tj ET Q q 0 0 0 rg BT 208.21 548.25 Td (date ) Tj ET Q q 0 0 0 rg BT 226.83 548.25 Td (of ) Tj ET Q q 0 0 0 rg BT 237.13 548.25 Td (the ) Tj ET Q q 0 0 0 rg BT 251.31 548.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 288.25 548.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 332.43 548.25 Td (and ) Tj ET Q q 0 0 0 rg BT 348.83 548.25 Td (the ) Tj ET Q q 0 0 0 rg BT 363.01 548.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 398.29 548.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 434.14 548.25 Td (of ) Tj ET Q q 0 0 0 rg BT 444.44 548.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 481.94 548.25 Td (and ) Tj ET Q q 0 0 0 rg BT 498.34 548.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 536.40 548.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.25 Td (that ) Tj ET Q q 0 0 0 rg BT 67.18 536.25 Td (period. ) Tj ET Q q 0 0 0 rg BT 97.91 536.25 Td ( ) Tj ET Q q 0 0 0 rg BT 100.00 536.25 Td (Actual ) Tj ET Q q 0 0 0 rg BT 129.34 536.25 Td (results ) Tj ET Q q 0 0 0 rg BT 158.13 536.25 Td (could ) Tj ET Q q 0 0 0 rg BT 183.03 536.25 Td (dif) Tj ET Q q 0 0 0 rg BT 193.96 536.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 207.74 536.25 Td (from ) Tj ET Q q 0 0 0 rg BT 229.86 536.25 Td (these ) Tj ET Q q 0 0 0 rg BT 253.09 536.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 292.98 536.25 Td (and ) Tj ET Q q 0 0 0 rg BT 310.11 536.25 Td (have ) Tj ET Q q 0 0 0 rg BT 331.67 536.25 Td (a ) Tj ET Q q 0 0 0 rg BT 338.79 536.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 383.68 536.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 413.58 536.25 Td (on ) Tj ET Q q 0 0 0 rg BT 426.26 536.25 Td (the ) Tj ET Q q 0 0 0 rg BT 441.16 536.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 478.82 536.25 Td (condition ) Tj ET Q q 0 0 0 rg BT 519.28 536.25 Td (and ) Tj ET Q q 0 0 0 rg BT 536.40 536.25 Td (results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.02 524.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 105.86 524.25 Td (and ) Tj ET Q q 0 0 0 rg BT 123.48 524.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 144.44 524.25 Td (flows. ) Tj ET Q q 0 0 0 rg BT 172.34 524.25 Td ( ) Tj ET Q q 0 0 0 rg BT 175.30 524.25 Td (W) Tj ET Q q 0 0 0 rg BT 184.34 524.25 Td (ith ) Tj ET Q q 0 0 0 rg BT 198.08 524.25 Td (regard ) Tj ET Q q 0 0 0 rg BT 226.80 524.25 Td (to ) Tj ET Q q 0 0 0 rg BT 237.77 524.25 Td (the ) Tj ET Q q 0 0 0 rg BT 253.17 524.25 Td (Company) Tj ET Q q 0 0 0 rg BT 291.41 524.25 Td (, ) Tj ET Q q 0 0 0 rg BT 297.09 524.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 337.49 524.25 Td (and ) Tj ET Q q 0 0 0 rg BT 355.12 524.25 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 407.75 524.25 Td (are ) Tj ET Q q 0 0 0 rg BT 423.14 524.25 Td (inherent ) Tj ET Q q 0 0 0 rg BT 459.09 524.25 Td (in ) Tj ET Q q 0 0 0 rg BT 470.06 524.25 Td (calculations ) Tj ET Q q 0 0 0 rg BT 521.00 524.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 554.73 524.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.25 Td (valuation ) Tj ET Q q 0 0 0 rg BT 88.03 512.25 Td (of ) Tj ET Q q 0 0 0 rg BT 97.68 512.25 Td (inventory ) Tj ET Q q 0 0 0 rg BT 137.33 512.25 Td (and ) Tj ET Q q 0 0 0 rg BT 153.09 512.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 198.29 512.25 Td (in ) Tj ET Q q 0 0 0 rg BT 207.39 512.25 Td (unconsolidated ) Tj ET Q q 0 0 0 rg BT 269.25 512.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 288.91 512.25 Td (ventures, ) Tj ET Q q 0 0 0 rg BT 326.61 512.25 Td (property ) Tj ET Q q 0 0 0 rg BT 361.80 512.25 Td (and ) Tj ET Q q 0 0 0 rg BT 377.56 512.25 Td (equipment ) Tj ET Q q 0 0 0 rg BT 421.10 512.25 Td (depreciation, ) Tj ET Q q 0 0 0 rg BT 474.34 512.25 Td (valuation ) Tj ET Q q 0 0 0 rg BT 512.87 512.25 Td (of ) Tj ET Q q 0 0 0 rg BT 522.52 512.25 Td (derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 85.87 500.25 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 136.43 500.25 Td (accounts ) Tj ET Q q 0 0 0 rg BT 172.81 500.25 Td (payable ) Tj ET Q q 0 0 0 rg BT 205.30 500.25 Td (on ) Tj ET Q q 0 0 0 rg BT 216.69 500.25 Td (inventory) Tj ET Q q 0 0 0 rg BT 254.37 500.25 Td (, ) Tj ET Q q 0 0 0 rg BT 258.26 500.25 Td (accruals ) Tj ET Q q 0 0 0 rg BT 292.41 500.25 Td (for ) Tj ET Q q 0 0 0 rg BT 305.46 500.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 326.85 500.25 Td (to ) Tj ET Q q 0 0 0 rg BT 336.02 500.25 Td (complete ) Tj ET Q q 0 0 0 rg BT 374.07 500.25 Td (inventory) Tj ET Q q 0 0 0 rg BT 411.74 500.25 Td (, ) Tj ET Q q 0 0 0 rg BT 415.64 500.25 Td (accruals ) Tj ET Q q 0 0 0 rg BT 449.78 500.25 Td (for ) Tj ET Q q 0 0 0 rg BT 462.84 500.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 499.77 500.25 Td (claims, ) Tj ET Q q 0 0 0 rg BT 529.76 500.25 Td (accruals ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.25 Td (for ) Tj ET Q q 0 0 0 rg BT 63.47 488.25 Td (self-insured ) Tj ET Q q 0 0 0 rg BT 112.99 488.25 Td (general ) Tj ET Q q 0 0 0 rg BT 144.73 488.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 178.15 488.25 Td (claims, ) Tj ET Q q 0 0 0 rg BT 209.07 488.25 Td (litigation, ) Tj ET Q q 0 0 0 rg BT 249.99 488.25 Td (accruals ) Tj ET Q q 0 0 0 rg BT 285.06 488.25 Td (for ) Tj ET Q q 0 0 0 rg BT 299.03 488.25 Td (health ) Tj ET Q q 0 0 0 rg BT 325.78 488.25 Td (care ) Tj ET Q q 0 0 0 rg BT 344.74 488.25 Td (and ) Tj ET Q q 0 0 0 rg BT 361.49 488.25 Td (workers) Tj ET Q q 0 0 0 rg BT 396.29 488.25 Td ( ) Tj ET Q q 0 0 0 rg BT 398.60 488.25 Td (compensation, ) Tj ET Q q 0 0 0 rg BT 458.96 488.25 Td (accruals ) Tj ET Q q 0 0 0 rg BT 494.03 488.25 Td (for ) Tj ET Q q 0 0 0 rg BT 508.00 488.25 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 554.18 488.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (indemnified ) Tj ET Q q 0 0 0 rg BT 99.51 476.25 Td (loans, ) Tj ET Q q 0 0 0 rg BT 124.81 476.25 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 173.71 476.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 230.94 476.25 Td (expense, ) Tj ET Q q 0 0 0 rg BT 267.34 476.25 Td (income ) Tj ET Q q 0 0 0 rg BT 298.46 476.25 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 323.20 476.25 Td (and ) Tj ET Q q 0 0 0 rg BT 339.33 476.25 Td (contingencies. ) Tj ET Q q 0 0 0 rg BT 398.50 476.25 Td ( ) Tj ET Q q 0 0 0 rg BT 400.19 476.25 Td (Items ) Tj ET Q q 0 0 0 rg BT 424.10 476.25 Td (that ) Tj ET Q q 0 0 0 rg BT 440.79 476.25 Td (could ) Tj ET Q q 0 0 0 rg BT 464.69 476.25 Td (have ) Tj ET Q q 0 0 0 rg BT 485.26 476.25 Td (a ) Tj ET Q q 0 0 0 rg BT 491.39 476.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 535.29 476.25 Td (impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (on ) Tj ET Q q 0 0 0 rg BT 61.57 464.25 Td (these ) Tj ET Q q 0 0 0 rg BT 84.19 464.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 123.48 464.25 Td (and ) Tj ET Q q 0 0 0 rg BT 139.99 464.25 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 191.51 464.25 Td (include ) Tj ET Q q 0 0 0 rg BT 223.02 464.25 Td (the ) Tj ET Q q 0 0 0 rg BT 237.31 464.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 258.27 464.25 Td (and ) Tj ET Q q 0 0 0 rg BT 274.78 464.25 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 327.94 464.25 Td (listed ) Tj ET Q q 0 0 0 rg BT 351.68 464.25 Td (in ) Tj ET Q q 0 0 0 rg BT 361.53 464.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 386.37 464.25 Td (1A. ) Tj ET Q q 0 0 0 rg BT 403.16 464.25 Td (Risk ) Tj ET Q q 0 0 0 rg BT 423.57 464.25 Td (Factors ) Tj ET Q q 0 0 0 rg BT 459.52 464.25 Td (in ) Tj ET Q q 0 0 0 rg BT 469.38 464.25 Td (Part ) Tj ET Q q 0 0 0 rg BT 487.56 464.25 Td (I ) Tj ET Q q 0 0 0 rg BT 492.96 464.25 Td (of ) Tj ET Q q 0 0 0 rg BT 503.36 464.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.77 464.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.77 464.25 Td ( ) Tj ET Q q 0 0 0 rg BT 540.84 464.25 Td (Form ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.25 Td (10-K ) Tj ET Q q 0 0 0 rg BT 72.16 452.25 Td (and ) Tj ET Q q 0 0 0 rg BT 88.70 452.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 113.56 452.25 Td (1A. ) Tj ET Q q 0 0 0 rg BT 130.39 452.25 Td (Risk ) Tj ET Q q 0 0 0 rg BT 150.83 452.25 Td (Factors ) Tj ET Q q 0 0 0 rg BT 186.81 452.25 Td (in ) Tj ET Q q 0 0 0 rg BT 196.70 452.25 Td (Part ) Tj ET Q q 0 0 0 rg BT 214.91 452.25 Td (II ) Tj ET Q q 0 0 0 rg BT 223.67 452.25 Td (of ) Tj ET Q q 0 0 0 rg BT 234.10 452.25 Td (this ) Tj ET Q q 0 0 0 rg BT 250.66 452.25 Td (Quarterly ) Tj ET Q q 0 0 0 rg BT 291.08 452.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 320.40 452.25 Td (on ) Tj ET Q q 0 0 0 rg BT 332.50 452.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 356.27 452.25 Td (10-Q, ) Tj ET Q q 0 0 0 rg BT 381.43 452.25 Td (as ) Tj ET Q q 0 0 0 rg BT 391.86 452.25 Td (the ) Tj ET Q q 0 0 0 rg BT 406.18 452.25 Td (same ) Tj ET Q q 0 0 0 rg BT 428.83 452.25 Td (may ) Tj ET Q q 0 0 0 rg BT 448.15 452.25 Td (be ) Tj ET Q q 0 0 0 rg BT 459.69 452.25 Td (updated ) Tj ET Q q 0 0 0 rg BT 493.45 452.25 Td (from ) Tj ET Q q 0 0 0 rg BT 515.00 452.25 Td (time ) Tj ET Q q 0 0 0 rg BT 534.87 452.25 Td (to ) Tj ET Q q 0 0 0 rg BT 544.75 452.25 Td (time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.78 440.25 Td (our ) Tj ET Q q 0 0 0 rg BT 75.61 440.25 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 122.55 440.25 Td (filings ) Tj ET Q q 0 0 0 rg BT 150.60 440.25 Td (with ) Tj ET Q q 0 0 0 rg BT 170.88 440.25 Td (the ) Tj ET Q q 0 0 0 rg BT 185.60 440.25 Td (SEC. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 416.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 97.20 416.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 147.48 416.25 Td (Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 392.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.43 392.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 97.16 392.25 Td (that ) Tj ET Q q 0 0 0 rg BT 115.01 392.25 Td (there ) Tj ET Q q 0 0 0 rg BT 137.85 392.25 Td (have ) Tj ET Q q 0 0 0 rg BT 159.58 392.25 Td (been ) Tj ET Q q 0 0 0 rg BT 181.32 392.25 Td (no ) Tj ET Q q 0 0 0 rg BT 194.17 392.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 239.24 392.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 274.30 392.25 Td (to ) Tj ET Q q 0 0 0 rg BT 284.93 392.25 Td (our ) Tj ET Q q 0 0 0 rg BT 301.12 392.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 346.19 392.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 392.92 392.25 Td (policies ) Tj ET Q q 0 0 0 rg BT 426.87 392.25 Td (during ) Tj ET Q q 0 0 0 rg BT 455.84 392.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.91 392.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 502.08 392.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 528.81 392.25 Td (June ) Tj ET Q q 0 0 0 rg BT 550.00 392.25 Td (30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 380.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.00 380.25 Td (as ) Tj ET Q q 0 0 0 rg BT 82.83 380.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 124.75 380.25 Td (to ) Tj ET Q q 0 0 0 rg BT 135.03 380.25 Td (those ) Tj ET Q q 0 0 0 rg BT 158.64 380.25 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 198.36 380.25 Td (in ) Tj ET Q q 0 0 0 rg BT 208.64 380.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.47 380.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.47 380.25 Td ( ) Tj ET Q q 0 0 0 rg BT 246.97 380.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 271.14 380.25 Td (10-K, ) Tj ET Q q 0 0 0 rg BT 296.69 380.25 Td (other ) Tj ET Q q 0 0 0 rg BT 319.73 380.25 Td (than ) Tj ET Q q 0 0 0 rg BT 339.45 380.25 Td (the ) Tj ET Q q 0 0 0 rg BT 354.17 380.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 388.88 380.25 Td (described ) Tj ET Q q 0 0 0 rg BT 429.69 380.25 Td (below) Tj ET Q q 0 0 0 rg BT 453.48 380.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 358.25 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 87.52 358.25 Td (Recognition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.03 358.25 Td (On ) Tj ET Q q 0 0 0 rg BT 159.72 358.25 Td (January ) Tj ET Q q 0 0 0 rg BT 193.30 358.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 203.27 358.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 228.25 358.25 Td (we ) Tj ET Q q 0 0 0 rg BT 242.39 358.25 Td (adopted ) Tj ET Q q 0 0 0 rg BT 275.97 358.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 297.90 358.25 Td (606, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 317.87 358.25 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 354.21 358.25 Td (fr) Tj ET Q q 0 0 0 rg BT 360.51 358.25 Td (om ) Tj ET Q q 0 0 0 rg BT 375.21 358.25 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 417.13 358.25 Td (fr) Tj ET Q q 0 0 0 rg BT 423.43 358.25 Td (om ) Tj ET Q q 0 0 0 rg BT 438.13 358.25 Td (Customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.91 358.25 Td ( ) Tj ET Q q 0 0 0 rg BT 483.39 358.25 Td (\(ASC ) Tj ET Q q 0 0 0 rg BT 513.08 358.25 Td (606\),) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 538.35 358.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.83 358.25 Td (using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 346.25 Td (the ) Tj ET Q q 0 0 0 rg BT 65.09 346.25 Td (modified ) Tj ET Q q 0 0 0 rg BT 104.57 346.25 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 159.58 346.25 Td (transition ) Tj ET Q q 0 0 0 rg BT 200.73 346.25 Td (method, ) Tj ET Q q 0 0 0 rg BT 236.59 346.25 Td (which ) Tj ET Q q 0 0 0 rg BT 264.41 346.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 301.10 346.25 Td (a ) Tj ET Q q 0 0 0 rg BT 308.92 346.25 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 356.72 346.25 Td (catch-up ) Tj ET Q q 0 0 0 rg BT 394.51 346.25 Td (in ) Tj ET Q q 0 0 0 rg BT 405.67 346.25 Td (retained ) Tj ET Q q 0 0 0 rg BT 441.24 346.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 478.49 346.25 Td (on ) Tj ET Q q 0 0 0 rg BT 491.86 346.25 Td (the ) Tj ET Q q 0 0 0 rg BT 507.45 346.25 Td (initial ) Tj ET Q q 0 0 0 rg BT 534.16 346.25 Td (date ) Tj ET Q q 0 0 0 rg BT 554.19 346.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 334.25 Td (adoption ) Tj ET Q q 0 0 0 rg BT 86.57 334.25 Td (for ) Tj ET Q q 0 0 0 rg BT 100.30 334.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 134.04 334.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 172.21 334.25 Td (\(those ) Tj ET Q q 0 0 0 rg BT 198.72 334.25 Td (that ) Tj ET Q q 0 0 0 rg BT 215.79 334.25 Td (are ) Tj ET Q q 0 0 0 rg BT 230.07 334.25 Td (not ) Tj ET Q q 0 0 0 rg BT 244.93 334.25 Td (completed\) ) Tj ET Q q 0 0 0 rg BT 291.98 334.25 Td (as ) Tj ET Q q 0 0 0 rg BT 302.39 334.25 Td (of, ) Tj ET Q q 0 0 0 rg BT 315.29 334.25 Td (and ) Tj ET Q q 0 0 0 rg BT 331.80 334.25 Td (new ) Tj ET Q q 0 0 0 rg BT 350.54 334.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 388.71 334.25 Td (after) Tj ET Q q 0 0 0 rg BT 406.62 334.25 Td (, ) Tj ET Q q 0 0 0 rg BT 411.19 334.25 Td (January ) Tj ET Q q 0 0 0 rg BT 444.37 334.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 453.94 334.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 478.52 334.25 Td ( ) Tj ET Q q 0 0 0 rg BT 480.59 334.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 512.11 334.25 Td (for ) Tj ET Q q 0 0 0 rg BT 525.85 334.25 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 322.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 81.50 322.25 Td (beginning ) Tj ET Q q 0 0 0 rg BT 124.06 322.25 Td (after ) Tj ET Q q 0 0 0 rg BT 144.94 322.25 Td (January ) Tj ET Q q 0 0 0 rg BT 178.60 322.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 188.67 322.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 211.23 322.25 Td (are ) Tj ET Q q 0 0 0 rg BT 226.00 322.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 266.88 322.25 Td (under ) Tj ET Q q 0 0 0 rg BT 291.64 322.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 313.66 322.25 Td (606, ) Tj ET Q q 0 0 0 rg BT 333.72 322.25 Td (while ) Tj ET Q q 0 0 0 rg BT 358.50 322.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 380.51 322.25 Td (period ) Tj ET Q q 0 0 0 rg BT 408.62 322.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 445.07 322.25 Td (are ) Tj ET Q q 0 0 0 rg BT 459.84 322.25 Td (not ) Tj ET Q q 0 0 0 rg BT 475.18 322.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 511.07 322.25 Td (and ) Tj ET Q q 0 0 0 rg BT 528.07 322.25 Td (continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 310.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.96 310.25 Td (be ) Tj ET Q q 0 0 0 rg BT 72.08 310.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 108.08 310.25 Td (in ) Tj ET Q q 0 0 0 rg BT 118.54 310.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 166.18 310.25 Td (with ) Tj ET Q q 0 0 0 rg BT 186.64 310.25 Td (our ) Tj ET Q q 0 0 0 rg BT 202.65 310.25 Td (historic ) Tj ET Q q 0 0 0 rg BT 235.33 310.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 281.89 310.25 Td (under ) Tj ET Q q 0 0 0 rg BT 306.74 310.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 328.88 310.25 Td (605, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 349.06 310.25 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 385.61 310.25 Td (Recognition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.61 310.25 Td (\(ASC ) Tj ET Q q 0 0 0 rg BT 466.51 310.25 Td (605\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 489.28 310.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.78 310.25 Td ( ) Tj ET Q q 0 0 0 rg BT 494.46 310.25 Td ( ) Tj ET Q q 0 0 0 rg BT 496.95 310.25 Td (W) Tj ET Q q 0 0 0 rg BT 505.59 310.25 Td (e ) Tj ET Q q 0 0 0 rg BT 512.71 310.25 Td (did ) Tj ET Q q 0 0 0 rg BT 528.17 310.25 Td (not ) Tj ET Q q 0 0 0 rg BT 543.63 310.25 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 298.25 Td (any ) Tj ET Q q 0 0 0 rg BT 66.44 298.25 Td (material ) Tj ET Q q 0 0 0 rg BT 101.70 298.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 151.97 298.25 Td (to ) Tj ET Q q 0 0 0 rg BT 162.25 298.25 Td (our ) Tj ET Q q 0 0 0 rg BT 178.08 298.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 200.58 298.25 Td (results ) Tj ET Q q 0 0 0 rg BT 229.19 298.25 Td (under ) Tj ET Q q 0 0 0 rg BT 253.90 298.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 275.86 298.25 Td (606.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 276.25 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 86.72 276.25 Td (from ) Tj ET Q q 0 0 0 rg BT 108.40 276.25 Td (the ) Tj ET Q q 0 0 0 rg BT 122.86 276.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 140.64 276.25 Td (of ) Tj ET Q q 0 0 0 rg BT 151.21 276.25 Td (a ) Tj ET Q q 0 0 0 rg BT 157.89 276.25 Td (home ) Tj ET Q q 0 0 0 rg BT 182.34 276.25 Td (and ) Tj ET Q q 0 0 0 rg BT 199.02 276.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 232.91 276.25 Td (from ) Tj ET Q q 0 0 0 rg BT 254.58 276.25 Td (the ) Tj ET Q q 0 0 0 rg BT 269.04 276.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 286.82 276.25 Td (of ) Tj ET Q q 0 0 0 rg BT 297.39 276.25 Td (land ) Tj ET Q q 0 0 0 rg BT 316.85 276.25 Td (to ) Tj ET Q q 0 0 0 rg BT 326.87 276.25 Td (third ) Tj ET Q q 0 0 0 rg BT 347.99 276.25 Td (parties ) Tj ET Q q 0 0 0 rg BT 376.89 276.25 Td (is ) Tj ET Q q 0 0 0 rg BT 385.79 276.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 431.90 276.25 Td (in ) Tj ET Q q 0 0 0 rg BT 441.91 276.25 Td (the ) Tj ET Q q 0 0 0 rg BT 456.37 276.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 493.59 276.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 538.04 276.25 Td (on ) Tj ET Q q 0 0 0 rg BT 550.28 276.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 264.25 Td (date ) Tj ET Q q 0 0 0 rg BT 69.15 264.25 Td (of ) Tj ET Q q 0 0 0 rg BT 80.47 264.25 Td (closing ) Tj ET Q q 0 0 0 rg BT 112.35 264.25 Td (\(point ) Tj ET Q q 0 0 0 rg BT 139.23 264.25 Td (in ) Tj ET Q q 0 0 0 rg BT 150.00 264.25 Td (time\) ) Tj ET Q q 0 0 0 rg BT 174.10 264.25 Td (if ) Tj ET Q q 0 0 0 rg BT 183.20 264.25 Td (delivery ) Tj ET Q q 0 0 0 rg BT 218.96 264.25 Td (has ) Tj ET Q q 0 0 0 rg BT 235.28 264.25 Td (occurred, ) Tj ET Q q 0 0 0 rg BT 275.75 264.25 Td (title ) Tj ET Q q 0 0 0 rg BT 294.29 264.25 Td (has ) Tj ET Q q 0 0 0 rg BT 310.62 264.25 Td (passed, ) Tj ET Q q 0 0 0 rg BT 342.77 264.25 Td (all ) Tj ET Q q 0 0 0 rg BT 355.76 264.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 409.28 264.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 456.71 264.25 Td (have ) Tj ET Q q 0 0 0 rg BT 478.58 264.25 Td (been ) Tj ET Q q 0 0 0 rg BT 500.45 264.25 Td (met ) Tj ET Q q 0 0 0 rg BT 518.44 264.25 Td (\(please ) Tj ET Q q 0 0 0 rg BT 549.75 264.25 Td (see ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 252.25 Td (definition ) Tj ET Q q 0 0 0 rg BT 90.53 252.25 Td (of ) Tj ET Q q 0 0 0 rg BT 101.01 252.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 153.68 252.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 200.27 252.25 Td (below\), ) Tj ET Q q 0 0 0 rg BT 232.69 252.25 Td (and ) Tj ET Q q 0 0 0 rg BT 249.28 252.25 Td (control ) Tj ET Q q 0 0 0 rg BT 279.75 252.25 Td (of ) Tj ET Q q 0 0 0 rg BT 290.23 252.25 Td (the ) Tj ET Q q 0 0 0 rg BT 304.59 252.25 Td (home ) Tj ET Q q 0 0 0 rg BT 328.96 252.25 Td (or ) Tj ET Q q 0 0 0 rg BT 339.44 252.25 Td (land ) Tj ET Q q 0 0 0 rg BT 358.80 252.25 Td (is ) Tj ET Q q 0 0 0 rg BT 367.62 252.25 Td (transferred ) Tj ET Q q 0 0 0 rg BT 413.07 252.25 Td (to ) Tj ET Q q 0 0 0 rg BT 423.00 252.25 Td (the ) Tj ET Q q 0 0 0 rg BT 437.37 252.25 Td (buyer ) Tj ET Q q 0 0 0 rg BT 462.28 252.25 Td (in ) Tj ET Q q 0 0 0 rg BT 472.21 252.25 Td (an ) Tj ET Q q 0 0 0 rg BT 483.80 252.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 515.94 252.25 Td (that ) Tj ET Q q 0 0 0 rg BT 533.08 252.25 Td (reflects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 240.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 240.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 120.59 240.25 Td (we ) Tj ET Q q 0 0 0 rg BT 134.75 240.25 Td (expect ) Tj ET Q q 0 0 0 rg BT 163.34 240.25 Td (to ) Tj ET Q q 0 0 0 rg BT 173.62 240.25 Td (be ) Tj ET Q q 0 0 0 rg BT 185.56 240.25 Td (entitled ) Tj ET Q q 0 0 0 rg BT 218.05 240.25 Td (to ) Tj ET Q q 0 0 0 rg BT 228.33 240.25 Td (in ) Tj ET Q q 0 0 0 rg BT 238.61 240.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 278.86 240.25 Td (for ) Tj ET Q q 0 0 0 rg BT 293.02 240.25 Td (the ) Tj ET Q q 0 0 0 rg BT 307.74 240.25 Td (home ) Tj ET Q q 0 0 0 rg BT 332.45 240.25 Td (or ) Tj ET Q q 0 0 0 rg BT 343.28 240.25 Td (land.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 218.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 218.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.04 218.25 Td (recognize ) Tj ET Q q 0 0 0 rg BT 106.36 218.25 Td (the ) Tj ET Q q 0 0 0 rg BT 121.04 218.25 Td (majority ) Tj ET Q q 0 0 0 rg BT 157.38 218.25 Td (of ) Tj ET Q q 0 0 0 rg BT 168.17 218.25 Td (the ) Tj ET Q q 0 0 0 rg BT 182.85 218.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 216.96 218.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 260.51 218.25 Td (with ) Tj ET Q q 0 0 0 rg BT 280.75 218.25 Td (our ) Tj ET Q q 0 0 0 rg BT 296.54 218.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 336.77 218.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 356.44 218.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 400.56 218.25 Td (when ) Tj ET Q q 0 0 0 rg BT 424.68 218.25 Td (the ) Tj ET Q q 0 0 0 rg BT 439.36 218.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 479.58 218.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 503.15 218.25 Td (are ) Tj ET Q q 0 0 0 rg BT 517.82 218.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 536.95 218.25 Td (and/or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 206.25 Td (related ) Tj ET Q q 0 0 0 rg BT 79.02 206.25 Td (servicing ) Tj ET Q q 0 0 0 rg BT 118.00 206.25 Td (rights ) Tj ET Q q 0 0 0 rg BT 143.10 206.25 Td (are ) Tj ET Q q 0 0 0 rg BT 157.63 206.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 176.62 206.25 Td (to ) Tj ET Q q 0 0 0 rg BT 186.72 206.25 Td (third ) Tj ET Q q 0 0 0 rg BT 207.92 206.25 Td (party ) Tj ET Q q 0 0 0 rg BT 230.79 206.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 269.22 206.25 Td (or ) Tj ET Q q 0 0 0 rg BT 279.87 206.25 Td (retained ) Tj ET Q q 0 0 0 rg BT 314.39 206.25 Td (and ) Tj ET Q q 0 0 0 rg BT 331.15 206.25 Td (managed ) Tj ET Q q 0 0 0 rg BT 369.57 206.25 Td (under ) Tj ET Q q 0 0 0 rg BT 394.66 206.25 Td (a ) Tj ET Q q 0 0 0 rg BT 401.42 206.25 Td (third ) Tj ET Q q 0 0 0 rg BT 422.62 206.25 Td (party ) Tj ET Q q 0 0 0 rg BT 445.49 206.25 Td (subservice ) Tj ET Q q 0 0 0 rg BT 490.02 206.25 Td (arrangement. ) Tj ET Q q 0 0 0 rg BT 544.81 206.25 Td ( ) Tj ET Q q 0 0 0 rg BT 546.96 206.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 194.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 83.64 194.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 129.99 194.25 Td (is ) Tj ET Q q 0 0 0 rg BT 139.15 194.25 Td (reduced ) Tj ET Q q 0 0 0 rg BT 173.29 194.25 Td (by ) Tj ET Q q 0 0 0 rg BT 185.78 194.25 Td (the ) Tj ET Q q 0 0 0 rg BT 200.49 194.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 216.86 194.25 Td (value ) Tj ET Q q 0 0 0 rg BT 241.01 194.25 Td (of ) Tj ET Q q 0 0 0 rg BT 251.83 194.25 Td (the ) Tj ET Q q 0 0 0 rg BT 266.54 194.25 Td (related ) Tj ET Q q 0 0 0 rg BT 296.23 194.25 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 337.58 194.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 375.62 194.25 Td (to ) Tj ET Q q 0 0 0 rg BT 385.89 194.25 Td (the ) Tj ET Q q 0 0 0 rg BT 400.60 194.25 Td (investor) Tj ET Q q 0 0 0 rg BT 432.27 194.25 Td (. ) Tj ET Q q 0 0 0 rg BT 437.26 194.25 Td ( ) Tj ET Q q 0 0 0 rg BT 439.57 194.25 Td (The ) Tj ET Q q 0 0 0 rg BT 457.61 194.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 473.98 194.25 Td (value ) Tj ET Q q 0 0 0 rg BT 498.12 194.25 Td (of ) Tj ET Q q 0 0 0 rg BT 508.95 194.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.65 194.25 Td (guarantee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 182.25 Td (is ) Tj ET Q q 0 0 0 rg BT 58.33 182.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 104.35 182.25 Td (in ) Tj ET Q q 0 0 0 rg BT 114.28 182.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 148.08 182.25 Td (when ) Tj ET Q q 0 0 0 rg BT 171.90 182.25 Td (the ) Tj ET Q q 0 0 0 rg BT 186.28 182.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 227.32 182.25 Td (is ) Tj ET Q q 0 0 0 rg BT 236.15 182.25 Td (released ) Tj ET Q q 0 0 0 rg BT 271.06 182.25 Td (from ) Tj ET Q q 0 0 0 rg BT 292.65 182.25 Td (its ) Tj ET Q q 0 0 0 rg BT 304.26 182.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 346.97 182.25 Td (under ) Tj ET Q q 0 0 0 rg BT 371.89 182.25 Td (the ) Tj ET Q q 0 0 0 rg BT 386.27 182.25 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 427.29 182.25 Td (\(note ) Tj ET Q q 0 0 0 rg BT 449.99 182.25 Td (that ) Tj ET Q q 0 0 0 rg BT 467.14 182.25 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 512.06 182.25 Td (are ) Tj ET Q q 0 0 0 rg BT 526.42 182.25 Td (excluded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 170.25 Td (from ) Tj ET Q q 0 0 0 rg BT 71.14 170.25 Td (the ) Tj ET Q q 0 0 0 rg BT 85.56 170.25 Td (scope ) Tj ET Q q 0 0 0 rg BT 110.54 170.25 Td (of ) Tj ET Q q 0 0 0 rg BT 120.59 170.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 142.24 170.25 Td (606\). ) Tj ET Q q 0 0 0 rg BT 165.28 170.25 Td ( ) Tj ET Q q 0 0 0 rg BT 167.32 170.25 Td (W) Tj ET Q q 0 0 0 rg BT 175.96 170.25 Td (e ) Tj ET Q q 0 0 0 rg BT 182.60 170.25 Td (recognize ) Tj ET Q q 0 0 0 rg BT 223.67 170.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 260.86 170.25 Td (services ) Tj ET Q q 0 0 0 rg BT 295.27 170.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 329.12 170.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 372.42 170.25 Td (with ) Tj ET Q q 0 0 0 rg BT 392.40 170.25 Td (our ) Tj ET Q q 0 0 0 rg BT 407.93 170.25 Td (title ) Tj ET Q q 0 0 0 rg BT 425.69 170.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 469.55 170.25 Td (as ) Tj ET Q q 0 0 0 rg BT 480.08 170.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 508.40 170.25 Td (are ) Tj ET Q q 0 0 0 rg BT 522.81 170.25 Td (delivered, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 158.25 Td (closing ) Tj ET Q q 0 0 0 rg BT 80.67 158.25 Td (services ) Tj ET Q q 0 0 0 rg BT 115.17 158.25 Td (are ) Tj ET Q q 0 0 0 rg BT 129.66 158.25 Td (rendered, ) Tj ET Q q 0 0 0 rg BT 169.43 158.25 Td (and ) Tj ET Q q 0 0 0 rg BT 186.15 158.25 Td (title ) Tj ET Q q 0 0 0 rg BT 203.99 158.25 Td (policies ) Tj ET Q q 0 0 0 rg BT 237.38 158.25 Td (are ) Tj ET Q q 0 0 0 rg BT 251.88 158.25 Td (issued, ) Tj ET Q q 0 0 0 rg BT 281.67 158.25 Td (all ) Tj ET Q q 0 0 0 rg BT 293.95 158.25 Td (of ) Tj ET Q q 0 0 0 rg BT 304.57 158.25 Td (which ) Tj ET Q q 0 0 0 rg BT 331.29 158.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 370.78 158.25 Td (occur ) Tj ET Q q 0 0 0 rg BT 395.28 158.25 Td (simultaneously ) Tj ET Q q 0 0 0 rg BT 458.12 158.25 Td (as ) Tj ET Q q 0 0 0 rg BT 468.73 158.25 Td (each ) Tj ET Q q 0 0 0 rg BT 489.34 158.25 Td (home ) Tj ET Q q 0 0 0 rg BT 513.84 158.25 Td (is ) Tj ET Q q 0 0 0 rg BT 522.80 158.25 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 565.00 158.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (All ) Tj ET Q q 0 0 0 rg BT 64.78 146.25 Td (of ) Tj ET Q q 0 0 0 rg BT 75.61 146.25 Td (the ) Tj ET Q q 0 0 0 rg BT 90.33 146.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 144.48 146.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 161.98 146.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 205.57 146.25 Td (with ) Tj ET Q q 0 0 0 rg BT 225.85 146.25 Td (title ) Tj ET Q q 0 0 0 rg BT 243.90 146.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 284.72 146.25 Td (policies ) Tj ET Q q 0 0 0 rg BT 318.32 146.25 Td (is ) Tj ET Q q 0 0 0 rg BT 327.49 146.25 Td (transferred ) Tj ET Q q 0 0 0 rg BT 373.30 146.25 Td (to ) Tj ET Q q 0 0 0 rg BT 383.58 146.25 Td (third-party ) Tj ET Q q 0 0 0 rg BT 428.84 146.25 Td (insurers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 124.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 124.25 Td ( ) Tj ET Q q 0 0 0 rg BT 58.50 124.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 111.35 124.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 154.22 124.25 Td (is ) Tj ET Q q 0 0 0 rg BT 163.22 124.25 Td (a ) Tj ET Q q 0 0 0 rg BT 169.99 124.25 Td (promise ) Tj ET Q q 0 0 0 rg BT 204.53 124.25 Td (in ) Tj ET Q q 0 0 0 rg BT 214.63 124.25 Td (a ) Tj ET Q q 0 0 0 rg BT 221.40 124.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 255.93 124.25 Td (to ) Tj ET Q q 0 0 0 rg BT 266.03 124.25 Td (transfer ) Tj ET Q q 0 0 0 rg BT 298.90 124.25 Td (a ) Tj ET Q q 0 0 0 rg BT 305.66 124.25 Td (distinct ) Tj ET Q q 0 0 0 rg BT 337.43 124.25 Td (good ) Tj ET Q q 0 0 0 rg BT 359.76 124.25 Td (or ) Tj ET Q q 0 0 0 rg BT 370.42 124.25 Td (service ) Tj ET Q q 0 0 0 rg BT 401.06 124.25 Td (to ) Tj ET Q q 0 0 0 rg BT 411.16 124.25 Td (the ) Tj ET Q q 0 0 0 rg BT 425.71 124.25 Td (customer) Tj ET Q q 0 0 0 rg BT 461.81 124.25 Td (. ) Tj ET Q q 0 0 0 rg BT 466.64 124.25 Td ( ) Tj ET Q q 0 0 0 rg BT 468.45 124.25 Td (A) Tj ET Q q 0 0 0 rg BT 475.12 124.25 Td ( ) Tj ET Q q 0 0 0 rg BT 477.45 124.25 Td (contract) Tj ET Q q 0 0 0 rg BT 512.43 124.25 Td (s ) Tj ET Q q 0 0 0 rg BT 518.64 124.25 Td (transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 112.25 Td (price ) Tj ET Q q 0 0 0 rg BT 72.38 112.25 Td (is ) Tj ET Q q 0 0 0 rg BT 81.94 112.25 Td (allocated ) Tj ET Q q 0 0 0 rg BT 120.93 112.25 Td (to ) Tj ET Q q 0 0 0 rg BT 131.60 112.25 Td (each ) Tj ET Q q 0 0 0 rg BT 152.81 112.25 Td (distinct ) Tj ET Q q 0 0 0 rg BT 185.15 112.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 238.57 112.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 282.01 112.25 Td (and ) Tj ET Q q 0 0 0 rg BT 299.34 112.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 346.10 112.25 Td (as ) Tj ET Q q 0 0 0 rg BT 357.33 112.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 391.87 112.25 Td (when, ) Tj ET Q q 0 0 0 rg BT 418.92 112.25 Td (or ) Tj ET Q q 0 0 0 rg BT 430.15 112.25 Td (as, ) Tj ET Q q 0 0 0 rg BT 443.87 112.25 Td (the ) Tj ET Q q 0 0 0 rg BT 458.98 112.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 512.40 112.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 555.84 112.25 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 100.25 Td (satisfied. ) Tj ET Q q 0 0 0 rg BT 86.87 100.25 Td ( ) Tj ET Q q 0 0 0 rg BT 88.07 100.25 Td (All ) Tj ET Q q 0 0 0 rg BT 102.39 100.25 Td (of ) Tj ET Q q 0 0 0 rg BT 112.26 100.25 Td (our ) Tj ET Q q 0 0 0 rg BT 127.13 100.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 164.77 100.25 Td (to ) Tj ET Q q 0 0 0 rg BT 174.09 100.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 189.52 100.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 217.17 100.25 Td (have ) Tj ET Q q 0 0 0 rg BT 237.59 100.25 Td (a ) Tj ET Q q 0 0 0 rg BT 243.57 100.25 Td (single ) Tj ET Q q 0 0 0 rg BT 269.00 100.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 321.06 100.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 363.15 100.25 Td (as ) Tj ET Q q 0 0 0 rg BT 373.03 100.25 Td (the ) Tj ET Q q 0 0 0 rg BT 386.79 100.25 Td (promise ) Tj ET Q q 0 0 0 rg BT 420.54 100.25 Td (to ) Tj ET Q q 0 0 0 rg BT 429.86 100.25 Td (transfer ) Tj ET Q q 0 0 0 rg BT 461.94 100.25 Td (the ) Tj ET Q q 0 0 0 rg BT 475.70 100.25 Td (home ) Tj ET Q q 0 0 0 rg BT 499.46 100.25 Td (is ) Tj ET Q q 0 0 0 rg BT 507.67 100.25 Td (not ) Tj ET Q q 0 0 0 rg BT 521.99 100.25 Td (separately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 88.25 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 97.70 88.25 Td (from ) Tj ET Q q 0 0 0 rg BT 119.81 88.25 Td (other ) Tj ET Q q 0 0 0 rg BT 143.02 88.25 Td (promises ) Tj ET Q q 0 0 0 rg BT 181.79 88.25 Td (in ) Tj ET Q q 0 0 0 rg BT 192.24 88.25 Td (the ) Tj ET Q q 0 0 0 rg BT 207.12 88.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 241.99 88.25 Td (and, ) Tj ET Q q 0 0 0 rg BT 261.59 88.25 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 302.84 88.25 Td (not ) Tj ET Q q 0 0 0 rg BT 318.29 88.25 Td (distinct. ) Tj ET Q q 0 0 0 rg BT 352.90 88.25 Td ( ) Tj ET Q q 0 0 0 rg BT 355.56 88.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 373.78 88.25 Td (third ) Tj ET Q q 0 0 0 rg BT 395.33 88.25 Td (party ) Tj ET Q q 0 0 0 rg BT 418.55 88.25 Td (land ) Tj ET Q q 0 0 0 rg BT 438.43 88.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 477.19 88.25 Td (may ) Tj ET Q q 0 0 0 rg BT 497.07 88.25 Td (include ) Tj ET Q q 0 0 0 rg BT 529.17 88.25 Td (multiple ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 76.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 104.10 76.25 Td (obligations; ) Tj ET Q q 0 0 0 rg BT 155.39 76.25 Td (however) Tj ET Q q 0 0 0 rg BT 189.42 76.25 Td (, ) Tj ET Q q 0 0 0 rg BT 196.00 76.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 231.72 76.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 271.33 76.25 Td (to ) Tj ET Q q 0 0 0 rg BT 283.18 76.25 Td (be ) Tj ET Q q 0 0 0 rg BT 296.69 76.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 344.63 76.25 Td (in ) Tj ET Q q 0 0 0 rg BT 356.48 76.25 Td (any ) Tj ET Q q 0 0 0 rg BT 375.00 76.25 Td (future ) Tj ET Q q 0 0 0 rg BT 402.95 76.25 Td (year ) Tj ET Q q 0 0 0 rg BT 424.23 76.25 Td (related ) Tj ET Q q 0 0 0 rg BT 455.51 76.25 Td (to ) Tj ET Q q 0 0 0 rg BT 467.36 76.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 511.98 76.25 Td (performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 64.25 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 98.91 64.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 140.80 64.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 174.91 64.25 Td (pertaining ) Tj ET Q q 0 0 0 rg BT 217.91 64.25 Td (to ) Tj ET Q q 0 0 0 rg BT 228.15 64.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 266.71 64.25 Td (that ) Tj ET Q q 0 0 0 rg BT 284.17 64.25 Td (have ) Tj ET Q q 0 0 0 rg BT 305.51 64.25 Td (an ) Tj ET Q q 0 0 0 rg BT 317.41 64.25 Td (original ) Tj ET Q q 0 0 0 rg BT 350.97 64.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 388.97 64.25 Td (duration ) Tj ET Q q 0 0 0 rg BT 424.76 64.25 Td (of ) Tj ET Q q 0 0 0 rg BT 435.55 64.25 Td (one ) Tj ET Q q 0 0 0 rg BT 452.45 64.25 Td (year ) Tj ET Q q 0 0 0 rg BT 472.12 64.25 Td (or ) Tj ET Q q 0 0 0 rg BT 482.91 64.25 Td (less, ) Tj ET Q q 0 0 0 rg BT 502.87 64.25 Td (is ) Tj ET Q q 0 0 0 rg BT 512.01 64.25 Td (not ) Tj ET Q q 0 0 0 rg BT 527.25 64.25 Td (material.) Tj ET Q endstream endobj 17 0 obj <><>] /Rotate 0 /Contents 18 0 R>> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 740.10 Td (e ) Tj ET Q q 0 0 0 rg BT 64.68 740.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 103.99 740.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 138.30 740.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 159.84 740.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 214.17 740.10 Td (when ) Tj ET Q q 0 0 0 rg BT 237.94 740.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 273.36 740.10 Td (because ) Tj ET Q q 0 0 0 rg BT 307.11 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.43 740.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 374.07 740.10 Td (period ) Tj ET Q q 0 0 0 rg BT 401.72 740.10 Td (would ) Tj ET Q q 0 0 0 rg BT 428.83 740.10 Td (have ) Tj ET Q q 0 0 0 rg BT 449.81 740.10 Td (been ) Tj ET Q q 0 0 0 rg BT 470.79 740.10 Td (one ) Tj ET Q q 0 0 0 rg BT 487.33 740.10 Td (year ) Tj ET Q q 0 0 0 rg BT 506.64 740.10 Td (or ) Tj ET Q q 0 0 0 rg BT 517.08 740.10 Td (less. ) Tj ET Q q 0 0 0 rg BT 536.68 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 538.64 740.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.49 728.10 Td (are ) Tj ET Q q 0 0 0 rg BT 87.68 728.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 125.64 728.10 Td (within ) Tj ET Q q 0 0 0 rg BT 154.19 728.10 Td (general, ) Tj ET Q q 0 0 0 rg BT 189.10 728.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 218.75 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 236.18 728.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 296.37 728.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 335.46 728.10 Td (as ) Tj ET Q q 0 0 0 rg BT 346.78 728.10 Td (part ) Tj ET Q q 0 0 0 rg BT 365.31 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 376.63 728.10 Td (our ) Tj ET Q q 0 0 0 rg BT 392.94 728.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 415.37 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 432.80 728.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 476.33 728.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 517.91 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 520.68 728.10 Td (W) Tj ET Q q 0 0 0 rg BT 529.32 728.10 Td (e ) Tj ET Q q 0 0 0 rg BT 536.75 728.10 Td (do ) Tj ET Q q 0 0 0 rg BT 549.73 728.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (disclose ) Tj ET Q q 0 0 0 rg BT 84.22 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 98.93 716.10 Td (value ) Tj ET Q q 0 0 0 rg BT 123.09 716.10 Td (of ) Tj ET Q q 0 0 0 rg BT 133.92 716.10 Td (unsatisfied ) Tj ET Q q 0 0 0 rg BT 179.74 716.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 232.77 716.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 279.71 716.10 Td (for ) Tj ET Q q 0 0 0 rg BT 293.87 716.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 332.46 716.10 Td (with ) Tj ET Q q 0 0 0 rg BT 352.74 716.10 Td (an ) Tj ET Q q 0 0 0 rg BT 364.68 716.10 Td (original ) Tj ET Q q 0 0 0 rg BT 398.28 716.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 436.32 716.10 Td (length ) Tj ET Q q 0 0 0 rg BT 463.81 716.10 Td (of ) Tj ET Q q 0 0 0 rg BT 474.64 716.10 Td (one ) Tj ET Q q 0 0 0 rg BT 491.58 716.10 Td (year ) Tj ET Q q 0 0 0 rg BT 511.29 716.10 Td (or ) Tj ET Q q 0 0 0 rg BT 522.12 716.10 Td (less.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (The following table presents our revenues disaggregated by geography:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 668.6 m 378 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 668.6 m 385 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 668.6 m 439 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 668.6 m 449 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 668.6 m 502 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 668.6 m 509 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 668.6 m 562 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 668.6 m 502 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 656.6 m 502 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 668.6 m 509 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 656.6 m 509 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 668.6 m 562 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 656.6 m 562 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 656.6 m 323 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 656.6 m 378 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 656.6 m 385 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 656.6 m 439 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 656.6 m 449 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 656.6 m 502 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 656.6 m 509 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 656.6 m 562 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 596.6 m 385 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 596.6 m 439 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 596.6 m 509 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 596.6 m 562 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 596.6 m 323 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 584.6 m 323 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 596.6 m 378 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 584.6 m 378 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 596.6 m 385 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 584.6 m 385 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 596.6 m 439 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 584.6 m 439 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 596.6 m 449 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 584.6 m 449 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 596.6 m 502 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 584.6 m 502 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 596.6 m 509 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 584.6 m 509 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 596.6 m 562 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 584.6 m 562 584.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.85 672.83 Td (Thr) Tj ET Q q 0 0 0 rg BT 342.11 672.83 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.20 672.83 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 660.55 Td (\(In ) Tj ET Q q 0 0 0 rg BT 62.83 660.55 Td (thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.10 660.68 Td (2018 ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 356.10 664.31 Td (\(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.50 660.55 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 660.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.00 660.55 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 636.55 Td (Midwest homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.50 636.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.75 636.68 Td (226,902) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.50 636.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 636.55 Td (168,469) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 636.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 636.68 Td (385,522) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 636.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 636.55 Td (314,891) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 624.55 Td (Southern homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.75 624.68 Td (237,582) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 624.55 Td (178,780) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 624.68 Td (427,970) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 624.55 Td (328,145) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 612.55 Td (Mid-Atlantic homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.80 612.68 Td (81,738) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 612.55 Td (97,749) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 612.68 Td (155,561) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 612.55 Td (194,635) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 600.55 Td (Financial services ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 117.04 604.18 Td (\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.80 600.68 Td (1) Tj ET Q q 0 0 0 rg BT 356.80 600.68 Td (1,876) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 600.55 Td (1) Tj ET Q q 0 0 0 rg BT 417.75 600.55 Td (1,868) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 600.68 Td (26,902) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 600.55 Td (26,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 588.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 588.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 588.55 Td (revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.50 588.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.75 588.68 Td (558,098) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.50 588.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 588.55 Td (456,866) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 588.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 588.68 Td (995,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 588.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 588.55 Td (863,846) Tj ET Q BT /F1 10.00 Tf ET BT /F1 7.80 Tf ET q 0 0 0 rg BT 49.50 573.75 Td (\(a\) ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 573.75 Td (As ) Tj ET Q q 0 0 0 rg BT 78.12 573.75 Td (noted ) Tj ET Q q 0 0 0 rg BT 97.40 573.75 Td (above, ) Tj ET Q q 0 0 0 rg BT 119.92 573.75 Td (prior ) Tj ET Q q 0 0 0 rg BT 137.03 573.75 Td (period ) Tj ET Q q 0 0 0 rg BT 158.91 573.75 Td (amounts ) Tj ET Q q 0 0 0 rg BT 187.29 573.75 Td (have ) Tj ET Q q 0 0 0 rg BT 203.96 573.75 Td (not ) Tj ET Q q 0 0 0 rg BT 215.88 573.75 Td (been ) Tj ET Q q 0 0 0 rg BT 232.55 573.75 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 260.50 573.75 Td (under ) Tj ET Q q 0 0 0 rg BT 280.21 573.75 Td (the ) Tj ET Q q 0 0 0 rg BT 291.68 573.75 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 328.29 573.75 Td (catch-up ) Tj ET Q q 0 0 0 rg BT 357.09 573.75 Td (transition ) Tj ET Q q 0 0 0 rg BT 388.50 573.75 Td (method.) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 49.50 562.35 Td (\(b\) ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 562.35 Td (Revenues ) Tj ET Q q 0 0 0 rg BT 99.57 562.35 Td (include ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 124.27 562.35 Td ($0.2 ) Tj ET Q q 0 0 0 rg BT 139.66 562.35 Td (million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 162.20 562.35 Td ( ) Tj ET Q q 0 0 0 rg BT 163.94 562.35 Td (related ) Tj ET Q q 0 0 0 rg BT 186.90 562.35 Td (to ) Tj ET Q q 0 0 0 rg BT 194.71 562.35 Td (hedging ) Tj ET Q q 0 0 0 rg BT 221.58 562.35 Td (gains ) Tj ET Q q 0 0 0 rg BT 239.79 562.35 Td (for ) Tj ET Q q 0 0 0 rg BT 250.63 562.35 Td (the ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 261.90 562.35 Td (three ) Tj ET Q q 0 0 0 rg BT 279.23 562.35 Td (months ) Tj ET Q q 0 0 0 rg BT 303.94 562.35 Td (ended ) Tj ET Q q 0 0 0 rg BT 324.31 562.35 Td (June ) Tj ET Q q 0 0 0 rg BT 340.35 562.35 Td (30, ) Tj ET Q q 0 0 0 rg BT 351.85 562.35 Td (2018) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 367.45 562.35 Td ( ) Tj ET Q q 0 0 0 rg BT 369.19 562.35 Td (and ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 382.19 562.35 Td ($2.0million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 420.33 562.35 Td ( ) Tj ET Q q 0 0 0 rg BT 422.07 562.35 Td (related ) Tj ET Q q 0 0 0 rg BT 445.03 562.35 Td (to ) Tj ET Q q 0 0 0 rg BT 452.84 562.35 Td (hedging ) Tj ET Q q 0 0 0 rg BT 479.72 562.35 Td (losses ) Tj ET Q q 0 0 0 rg BT 500.09 562.35 Td (for ) Tj ET Q q 0 0 0 rg BT 510.93 562.35 Td (the ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 522.20 562.35 Td (three ) Tj ET Q q 0 0 0 rg BT 539.54 562.35 Td (months ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 553.00 Td (ended ) Tj ET Q q 0 0 0 rg BT 88.13 553.00 Td (June ) Tj ET Q q 0 0 0 rg BT 104.43 553.00 Td (30, ) Tj ET Q q 0 0 0 rg BT 116.18 553.00 Td (2017) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 131.78 553.00 Td (. ) Tj ET Q q 0 0 0 rg BT 135.73 553.00 Td ( ) Tj ET Q q 0 0 0 rg BT 137.74 553.00 Td (Revenues ) Tj ET Q q 0 0 0 rg BT 170.06 553.00 Td (include ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 195.02 553.00 Td ($3.2 ) Tj ET Q q 0 0 0 rg BT 210.68 553.00 Td (million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 233.21 553.00 Td ( ) Tj ET Q q 0 0 0 rg BT 235.22 553.00 Td (and ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 248.48 553.00 Td ($2.6 ) Tj ET Q q 0 0 0 rg BT 264.13 553.00 Td (million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 286.67 553.00 Td ( ) Tj ET Q q 0 0 0 rg BT 288.67 553.00 Td (related ) Tj ET Q q 0 0 0 rg BT 311.89 553.00 Td (to ) Tj ET Q q 0 0 0 rg BT 319.96 553.00 Td (hedging ) Tj ET Q q 0 0 0 rg BT 347.10 553.00 Td (gains ) Tj ET Q q 0 0 0 rg BT 365.56 553.00 Td (for ) Tj ET Q q 0 0 0 rg BT 376.66 553.00 Td (the ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 388.19 553.00 Td (six ) Tj ET Q q 0 0 0 rg BT 399.30 553.00 Td (months ) Tj ET Q q 0 0 0 rg BT 424.27 553.00 Td (ended ) Tj ET Q q 0 0 0 rg BT 444.90 553.00 Td (June ) Tj ET Q q 0 0 0 rg BT 461.20 553.00 Td (30, ) Tj ET Q q 0 0 0 rg BT 472.95 553.00 Td (2018 ) Tj ET Q q 0 0 0 rg BT 490.55 553.00 Td (and ) Tj ET Q q 0 0 0 rg BT 503.82 553.00 Td (2017) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 519.42 553.00 Td (, ) Tj ET Q q 0 0 0 rg BT 523.37 553.00 Td (respectively) Tj ET Q q 0 0 0 rg BT 560.55 553.00 Td (. ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 543.65 Td (Hedging ) Tj ET Q q 0 0 0 rg BT 96.31 543.65 Td (gains ) Tj ET Q q 0 0 0 rg BT 114.73 543.65 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 140.50 543.65 Td (do ) Tj ET Q q 0 0 0 rg BT 150.25 543.65 Td (not ) Tj ET Q q 0 0 0 rg BT 162.17 543.65 Td (represent ) Tj ET Q q 0 0 0 rg BT 192.70 543.65 Td (revenues ) Tj ET Q q 0 0 0 rg BT 222.37 543.65 Td (recognized ) Tj ET Q q 0 0 0 rg BT 258.53 543.65 Td (from ) Tj ET Q q 0 0 0 rg BT 275.64 543.65 Td (contracts ) Tj ET Q q 0 0 0 rg BT 305.75 543.65 Td (with ) Tj ET Q q 0 0 0 rg BT 321.56 543.65 Td (customers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 517.65 Td (The ) Tj ET Q q 0 0 0 rg BT 67.55 517.65 Td (following ) Tj ET Q q 0 0 0 rg BT 108.93 517.65 Td (table ) Tj ET Q q 0 0 0 rg BT 130.87 517.65 Td (presents ) Tj ET Q q 0 0 0 rg BT 166.14 517.65 Td (our ) Tj ET Q q 0 0 0 rg BT 181.97 517.65 Td (revenues ) Tj ET Q q 0 0 0 rg BT 220.00 517.65 Td (disaggregated ) Tj ET Q q 0 0 0 rg BT 278.04 517.65 Td (by ) Tj ET Q q 0 0 0 rg BT 290.54 517.65 Td (revenue ) Tj ET Q q 0 0 0 rg BT 324.68 517.65 Td (source:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 494.15 m 378 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 494.15 m 385 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 494.15 m 439 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 494.15 m 449 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 494.15 m 502 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 494.15 m 509 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 494.15 m 562 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 483.15 m 323 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 494.15 m 378 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 483.15 m 378 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 483.15 m 385 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 483.15 m 439 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 483.15 m 449 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 494.15 m 502 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 483.15 m 502 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 494.15 m 509 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 483.15 m 509 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 494.15 m 562 494.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 483.15 m 562 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 483.15 m 323 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 483.15 m 378 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 483.15 m 385 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 483.15 m 439 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 483.15 m 449 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 483.15 m 502 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 483.15 m 509 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 483.15 m 562 483.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 439.15 m 323 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 439.15 m 378 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 439.15 m 385 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 439.15 m 439 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 439.15 m 449 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 439.15 m 502 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 439.15 m 509 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 439.15 m 562 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 439.15 m 323 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 428.15 m 323 428.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 439.15 m 378 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 428.15 m 378 428.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 439.15 m 385 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 428.15 m 385 428.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 439.15 m 439 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 428.15 m 439 428.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 439.15 m 449 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 428.15 m 449 428.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 439.15 m 502 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 428.15 m 502 428.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 439.15 m 509 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 428.15 m 509 428.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 439.15 m 562 439.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 428.15 m 562 428.15 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.85 498.38 Td (Thr) Tj ET Q q 0 0 0 rg BT 342.11 498.38 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.20 498.38 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 486.10 Td (\(Dollars ) Tj ET Q q 0 0 0 rg BT 79.71 486.10 Td (in ) Tj ET Q q 0 0 0 rg BT 87.94 486.10 Td (thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.10 486.23 Td (2018 ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 356.10 489.86 Td (\(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.50 486.10 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 486.23 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.00 486.10 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 464.10 Td (Housing) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.50 464.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.75 464.23 Td (545,034) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.50 464.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 464.10 Td (443,093) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 464.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 464.23 Td (963,458) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 464.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 464.10 Td (830,551) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 453.10 Td (Land sales) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.80 453.23 Td (1,188) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 453.10 Td (1,905) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 453.23 Td (5,595) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 453.10 Td (7,120) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 442.10 Td (Financial services ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 117.04 445.73 Td (\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.80 442.23 Td (1) Tj ET Q q 0 0 0 rg BT 356.80 442.23 Td (1,876) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 442.10 Td (1) Tj ET Q q 0 0 0 rg BT 417.75 442.10 Td (1,868) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 442.23 Td (26,902) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 442.10 Td (26,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 431.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 431.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 431.10 Td (revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.50 431.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.75 431.23 Td (558,098) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.50 431.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 431.10 Td (456,866) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 431.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 431.23 Td (995,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 431.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 431.10 Td (863,846) Tj ET Q BT /F1 10.00 Tf ET BT /F1 7.80 Tf ET q 0 0 0 rg BT 49.50 417.30 Td (\(a\) ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 417.30 Td (As ) Tj ET Q q 0 0 0 rg BT 78.12 417.30 Td (noted ) Tj ET Q q 0 0 0 rg BT 97.40 417.30 Td (above, ) Tj ET Q q 0 0 0 rg BT 119.92 417.30 Td (prior ) Tj ET Q q 0 0 0 rg BT 137.03 417.30 Td (period ) Tj ET Q q 0 0 0 rg BT 158.91 417.30 Td (amounts ) Tj ET Q q 0 0 0 rg BT 187.29 417.30 Td (have ) Tj ET Q q 0 0 0 rg BT 203.96 417.30 Td (not ) Tj ET Q q 0 0 0 rg BT 215.88 417.30 Td (been ) Tj ET Q q 0 0 0 rg BT 232.55 417.30 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 260.50 417.30 Td (under ) Tj ET Q q 0 0 0 rg BT 280.21 417.30 Td (the ) Tj ET Q q 0 0 0 rg BT 291.68 417.30 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 328.29 417.30 Td (catch-up ) Tj ET Q q 0 0 0 rg BT 357.09 417.30 Td (transition ) Tj ET Q q 0 0 0 rg BT 388.50 417.30 Td (method.) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 49.50 405.95 Td (\(b\) ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 405.95 Td (Revenues ) Tj ET Q q 0 0 0 rg BT 99.57 405.95 Td (include ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 124.27 405.95 Td ($0.2 ) Tj ET Q q 0 0 0 rg BT 139.66 405.95 Td (million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 162.20 405.95 Td ( ) Tj ET Q q 0 0 0 rg BT 163.94 405.95 Td (related ) Tj ET Q q 0 0 0 rg BT 186.90 405.95 Td (to ) Tj ET Q q 0 0 0 rg BT 194.71 405.95 Td (hedging ) Tj ET Q q 0 0 0 rg BT 221.58 405.95 Td (gains ) Tj ET Q q 0 0 0 rg BT 239.79 405.95 Td (for ) Tj ET Q q 0 0 0 rg BT 250.63 405.95 Td (the ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 261.90 405.95 Td (three ) Tj ET Q q 0 0 0 rg BT 279.23 405.95 Td (months ) Tj ET Q q 0 0 0 rg BT 303.94 405.95 Td (ended ) Tj ET Q q 0 0 0 rg BT 324.31 405.95 Td (June ) Tj ET Q q 0 0 0 rg BT 340.35 405.95 Td (30, ) Tj ET Q q 0 0 0 rg BT 351.85 405.95 Td (2018) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 367.45 405.95 Td ( ) Tj ET Q q 0 0 0 rg BT 369.19 405.95 Td (and ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 382.19 405.95 Td ($2.0million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 420.33 405.95 Td ( ) Tj ET Q q 0 0 0 rg BT 422.07 405.95 Td (related ) Tj ET Q q 0 0 0 rg BT 445.03 405.95 Td (to ) Tj ET Q q 0 0 0 rg BT 452.84 405.95 Td (hedging ) Tj ET Q q 0 0 0 rg BT 479.72 405.95 Td (losses ) Tj ET Q q 0 0 0 rg BT 500.09 405.95 Td (for ) Tj ET Q q 0 0 0 rg BT 510.93 405.95 Td (the ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 522.20 405.95 Td (three ) Tj ET Q q 0 0 0 rg BT 539.54 405.95 Td (months ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 396.55 Td (ended ) Tj ET Q q 0 0 0 rg BT 88.13 396.55 Td (June ) Tj ET Q q 0 0 0 rg BT 104.43 396.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 116.18 396.55 Td (2017) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 131.78 396.55 Td (. ) Tj ET Q q 0 0 0 rg BT 135.73 396.55 Td ( ) Tj ET Q q 0 0 0 rg BT 137.74 396.55 Td (Revenues ) Tj ET Q q 0 0 0 rg BT 170.06 396.55 Td (include ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 195.02 396.55 Td ($3.2 ) Tj ET Q q 0 0 0 rg BT 210.68 396.55 Td (million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 233.21 396.55 Td ( ) Tj ET Q q 0 0 0 rg BT 235.22 396.55 Td (and ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 248.48 396.55 Td ($2.6 ) Tj ET Q q 0 0 0 rg BT 264.13 396.55 Td (million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 286.67 396.55 Td ( ) Tj ET Q q 0 0 0 rg BT 288.67 396.55 Td (related ) Tj ET Q q 0 0 0 rg BT 311.89 396.55 Td (to ) Tj ET Q q 0 0 0 rg BT 319.96 396.55 Td (hedging ) Tj ET Q q 0 0 0 rg BT 347.10 396.55 Td (gains ) Tj ET Q q 0 0 0 rg BT 365.56 396.55 Td (for ) Tj ET Q q 0 0 0 rg BT 376.66 396.55 Td (the ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 388.19 396.55 Td (six ) Tj ET Q q 0 0 0 rg BT 399.30 396.55 Td (months ) Tj ET Q q 0 0 0 rg BT 424.27 396.55 Td (ended ) Tj ET Q q 0 0 0 rg BT 444.90 396.55 Td (June ) Tj ET Q q 0 0 0 rg BT 461.20 396.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 472.95 396.55 Td (2018 ) Tj ET Q q 0 0 0 rg BT 490.55 396.55 Td (and ) Tj ET Q q 0 0 0 rg BT 503.82 396.55 Td (2017) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 519.42 396.55 Td (, ) Tj ET Q q 0 0 0 rg BT 523.37 396.55 Td (respectively) Tj ET Q q 0 0 0 rg BT 560.55 396.55 Td (. ) Tj ET Q q 0 0 0 rg BT 564.45 396.55 Td ( ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 387.20 Td (Hedging ) Tj ET Q q 0 0 0 rg BT 96.31 387.20 Td (gains ) Tj ET Q q 0 0 0 rg BT 114.73 387.20 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 140.50 387.20 Td (do ) Tj ET Q q 0 0 0 rg BT 150.25 387.20 Td (not ) Tj ET Q q 0 0 0 rg BT 162.17 387.20 Td (represent ) Tj ET Q q 0 0 0 rg BT 192.70 387.20 Td (revenues ) Tj ET Q q 0 0 0 rg BT 222.37 387.20 Td (recognized ) Tj ET Q q 0 0 0 rg BT 258.53 387.20 Td (from ) Tj ET Q q 0 0 0 rg BT 275.64 387.20 Td (contracts ) Tj ET Q q 0 0 0 rg BT 305.75 387.20 Td (with ) Tj ET Q q 0 0 0 rg BT 321.56 387.20 Td (customers.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 361.20 Td (Goodwill.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.23 361.20 Td ( ) Tj ET Q q 0 0 0 rg BT 91.88 361.20 Td ( ) Tj ET Q q 0 0 0 rg BT 94.53 361.20 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 134.96 361.20 Td (represents ) Tj ET Q q 0 0 0 rg BT 178.15 361.20 Td (the ) Tj ET Q q 0 0 0 rg BT 193.02 361.20 Td (excess ) Tj ET Q q 0 0 0 rg BT 221.77 361.20 Td (of ) Tj ET Q q 0 0 0 rg BT 232.75 361.20 Td (the ) Tj ET Q q 0 0 0 rg BT 247.62 361.20 Td (purchase ) Tj ET Q q 0 0 0 rg BT 285.80 361.20 Td (price ) Tj ET Q q 0 0 0 rg BT 308.44 361.20 Td (paid ) Tj ET Q q 0 0 0 rg BT 328.31 361.20 Td (over ) Tj ET Q q 0 0 0 rg BT 348.73 361.20 Td (the ) Tj ET Q q 0 0 0 rg BT 363.60 361.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 380.13 361.20 Td (value ) Tj ET Q q 0 0 0 rg BT 404.43 361.20 Td (of ) Tj ET Q q 0 0 0 rg BT 415.41 361.20 Td (the ) Tj ET Q q 0 0 0 rg BT 430.28 361.20 Td (net ) Tj ET Q q 0 0 0 rg BT 445.15 361.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 471.13 361.20 Td (acquired ) Tj ET Q q 0 0 0 rg BT 508.21 361.20 Td (and ) Tj ET Q q 0 0 0 rg BT 525.30 361.20 Td (liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 349.20 Td (assumed ) Tj ET Q q 0 0 0 rg BT 86.14 349.20 Td (in ) Tj ET Q q 0 0 0 rg BT 96.11 349.20 Td (business ) Tj ET Q q 0 0 0 rg BT 132.20 349.20 Td (combinations. ) Tj ET Q q 0 0 0 rg BT 190.79 349.20 Td ( ) Tj ET Q q 0 0 0 rg BT 192.98 349.20 Td (Because ) Tj ET Q q 0 0 0 rg BT 228.50 349.20 Td (the ) Tj ET Q q 0 0 0 rg BT 242.91 349.20 Td (purchase ) Tj ET Q q 0 0 0 rg BT 280.65 349.20 Td (price ) Tj ET Q q 0 0 0 rg BT 302.83 349.20 Td (allocation ) Tj ET Q q 0 0 0 rg BT 344.46 349.20 Td (is ) Tj ET Q q 0 0 0 rg BT 353.33 349.20 Td (subject ) Tj ET Q q 0 0 0 rg BT 383.85 349.20 Td (to ) Tj ET Q q 0 0 0 rg BT 393.83 349.20 Td (change ) Tj ET Q q 0 0 0 rg BT 424.34 349.20 Td (within ) Tj ET Q q 0 0 0 rg BT 452.10 349.20 Td (a ) Tj ET Q q 0 0 0 rg BT 458.74 349.20 Td (measurement ) Tj ET Q q 0 0 0 rg BT 514.25 349.20 Td (period ) Tj ET Q q 0 0 0 rg BT 541.99 349.20 Td (of ) Tj ET Q q 0 0 0 rg BT 552.52 349.20 Td (up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 337.20 Td (to ) Tj ET Q q 0 0 0 rg BT 60.21 337.20 Td (one ) Tj ET Q q 0 0 0 rg BT 77.58 337.20 Td (year ) Tj ET Q q 0 0 0 rg BT 97.72 337.20 Td (from ) Tj ET Q q 0 0 0 rg BT 120.09 337.20 Td (the ) Tj ET Q q 0 0 0 rg BT 135.23 337.20 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 182.05 337.20 Td (date ) Tj ET Q q 0 0 0 rg BT 201.63 337.20 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 239.00 337.20 Td (to ) Tj ET Q q 0 0 0 rg BT 249.07 337.20 Td (ASC ) Tj ET Q q 0 0 0 rg BT 271.45 337.20 Td (805, ) Tj ET Q q 0 0 0 rg BT 291.88 337.20 Td (in ) Tj ET Q q 0 0 0 rg BT 302.59 337.20 Td (connection ) Tj ET Q q 0 0 0 rg BT 349.39 337.20 Td (with ) Tj ET Q q 0 0 0 rg BT 370.10 337.20 Td (the ) Tj ET Q q 0 0 0 rg BT 385.25 337.20 Td (Company) Tj ET Q q 0 0 0 rg BT 426.92 337.20 Td (s ) Tj ET Q q 0 0 0 rg BT 433.74 337.20 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 480.55 337.20 Td (of ) Tj ET Q q 0 0 0 rg BT 491.81 337.20 Td (the ) Tj ET Q q 0 0 0 rg BT 506.96 337.20 Td (homebuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 325.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 76.67 325.20 Td (and ) Tj ET Q q 0 0 0 rg BT 94.95 325.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 140.45 325.20 Td (of ) Tj ET Q q 0 0 0 rg BT 152.63 325.20 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 190.90 325.20 Td (Homes ) Tj ET Q q 0 0 0 rg BT 223.07 325.20 Td (in ) Tj ET Q q 0 0 0 rg BT 234.70 325.20 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 269.36 325.20 Td (Michigan, ) Tj ET Q q 0 0 0 rg BT 314.03 325.20 Td (the ) Tj ET Q q 0 0 0 rg BT 330.09 325.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 372.82 325.20 Td (recorded ) Tj ET Q q 0 0 0 rg BT 411.64 325.20 Td (a ) Tj ET Q q 0 0 0 rg BT 419.92 325.20 Td (provisional ) Tj ET Q q 0 0 0 rg BT 468.76 325.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 502.60 325.20 Td (of ) Tj ET Q q 0 0 0 rg BT 514.77 325.20 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 554.17 325.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 313.20 Td (approximately) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.76 313.20 Td ($16.4 ) Tj ET Q q 0 0 0 rg BT 133.76 313.20 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.65 313.20 Td (as ) Tj ET Q q 0 0 0 rg BT 174.99 313.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.82 313.20 Td (June30, ) Tj ET Q q 0 0 0 rg BT 219.65 313.20 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.65 313.20 Td (, ) Tj ET Q q 0 0 0 rg BT 243.66 313.20 Td (which ) Tj ET Q q 0 0 0 rg BT 269.60 313.20 Td (is ) Tj ET Q q 0 0 0 rg BT 277.77 313.20 Td (included ) Tj ET Q q 0 0 0 rg BT 313.71 313.20 Td (as ) Tj ET Q q 0 0 0 rg BT 323.54 313.20 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 362.82 313.20 Td (in ) Tj ET Q q 0 0 0 rg BT 372.10 313.20 Td (our ) Tj ET Q q 0 0 0 rg BT 386.93 313.20 Td (Unaudited ) Tj ET Q q 0 0 0 rg BT 430.09 313.20 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 476.03 313.20 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 530.31 313.20 Td (Balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 301.20 Td (Sheets. ) Tj ET Q q 0 0 0 rg BT 80.63 301.20 Td ( ) Tj ET Q q 0 0 0 rg BT 82.98 301.20 Td (This ) Tj ET Q q 0 0 0 rg BT 103.28 301.20 Td (provisional ) Tj ET Q q 0 0 0 rg BT 150.80 301.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 183.32 301.20 Td (was ) Tj ET Q q 0 0 0 rg BT 201.40 301.20 Td (based ) Tj ET Q q 0 0 0 rg BT 226.70 301.20 Td (on ) Tj ET Q q 0 0 0 rg BT 239.22 301.20 Td (the ) Tj ET Q q 0 0 0 rg BT 253.96 301.20 Td (estimated ) Tj ET Q q 0 0 0 rg BT 294.81 301.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 311.21 301.20 Td (values ) Tj ET Q q 0 0 0 rg BT 339.29 301.20 Td (of ) Tj ET Q q 0 0 0 rg BT 350.14 301.20 Td (the ) Tj ET Q q 0 0 0 rg BT 364.88 301.20 Td (acquired ) Tj ET Q q 0 0 0 rg BT 401.83 301.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 427.69 301.20 Td (and ) Tj ET Q q 0 0 0 rg BT 444.65 301.20 Td (assumed ) Tj ET Q q 0 0 0 rg BT 481.62 301.20 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 521.36 301.20 Td (at ) Tj ET Q q 0 0 0 rg BT 531.10 301.20 Td (the ) Tj ET Q q 0 0 0 rg BT 545.85 301.20 Td (date ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 289.20 Td (of ) Tj ET Q q 0 0 0 rg BT 60.07 289.20 Td (the ) Tj ET Q q 0 0 0 rg BT 74.52 289.20 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 120.64 289.20 Td (in ) Tj ET Q q 0 0 0 rg BT 130.65 289.20 Td (accordance ) Tj ET Q q 0 0 0 rg BT 177.85 289.20 Td (with ) Tj ET Q q 0 0 0 rg BT 197.37 289.20 Td (ASC ) Tj ET Q q 0 0 0 rg BT 219.06 289.20 Td (350,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 236.56 289.20 Td ( ) Tj ET Q q 0 0 0 rg BT 238.80 289.20 Td (Intangibles, ) Tj ET Q q 0 0 0 rg BT 288.53 289.20 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 327.99 289.20 Td (and ) Tj ET Q q 0 0 0 rg BT 345.23 289.20 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.06 289.20 Td (\(ASC ) Tj ET Q q 0 0 0 rg BT 400.52 289.20 Td (350\). ) Tj ET Q q 0 0 0 rg BT 428.02 289.20 Td ( ) Tj ET Q q 0 0 0 rg BT 430.26 289.20 Td (Please ) Tj ET Q q 0 0 0 rg BT 458.04 289.20 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 473.04443359375 287.8669921875 m 499.71923828125 287.8669921875 l s q 0 0 1 rg BT 473.04 289.20 Td (Note ) Tj ET Q q 0 0 1 rg BT 494.72 289.20 Td (7) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 499.72 289.20 Td ( ) Tj ET Q q 0 0 0 rg BT 501.96 289.20 Td (to ) Tj ET Q q 0 0 0 rg BT 511.97 289.20 Td (our ) Tj ET Q q 0 0 0 rg BT 527.54 289.20 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 277.20 Td (statements ) Tj ET Q q 0 0 0 rg BT 94.21 277.20 Td (for ) Tj ET Q q 0 0 0 rg BT 108.37 277.20 Td (further ) Tj ET Q q 0 0 0 rg BT 138.08 277.20 Td (discussion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 253.20 Td (In ) Tj ET Q q 0 0 0 rg BT 60.07 253.20 Td (January ) Tj ET Q q 0 0 0 rg BT 93.40 253.20 Td (2017, ) Tj ET Q q 0 0 0 rg BT 118.14 253.20 Td (the ) Tj ET Q q 0 0 0 rg BT 132.59 253.20 Td (F) Tj ET Q q 0 0 0 rg BT 137.41 253.20 Td (ASB ) Tj ET Q q 0 0 0 rg BT 159.10 253.20 Td (issued) Tj ET Q q 0 0 0 rg BT 186.05 253.20 Td (ASU ) Tj ET Q q 0 0 0 rg BT 208.29 253.20 Td (2017-04, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 246.36 253.20 Td (Simplifying ) Tj ET Q q 0 0 0 rg BT 294.14 253.20 Td (the ) Tj ET Q q 0 0 0 rg BT 308.60 253.20 Td (T) Tj ET Q q 0 0 0 rg BT 313.24 253.20 Td (est ) Tj ET Q q 0 0 0 rg BT 326.58 253.20 Td (for ) Tj ET Q q 0 0 0 rg BT 340.49 253.20 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 379.95 253.20 Td (Impairment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.61 253.20 Td (, ) Tj ET Q q 0 0 0 rg BT 431.35 253.20 Td (which ) Tj ET Q q 0 0 0 rg BT 458.03 253.20 Td (eliminates ) Tj ET Q q 0 0 0 rg BT 501.36 253.20 Td (Step ) Tj ET Q q 0 0 0 rg BT 521.38 253.20 Td (2 ) Tj ET Q q 0 0 0 rg BT 528.61 253.20 Td (from ) Tj ET Q q 0 0 0 rg BT 550.29 253.20 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 241.20 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 87.56 241.20 Td (impairment ) Tj ET Q q 0 0 0 rg BT 136.16 241.20 Td (test ) Tj ET Q q 0 0 0 rg BT 152.55 241.20 Td (in ) Tj ET Q q 0 0 0 rg BT 162.83 241.20 Td (order ) Tj ET Q q 0 0 0 rg BT 186.43 241.20 Td (to ) Tj ET Q q 0 0 0 rg BT 196.71 241.20 Td (simplify ) Tj ET Q q 0 0 0 rg BT 232.55 241.20 Td (the ) Tj ET Q q 0 0 0 rg BT 247.27 241.20 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 294.21 241.20 Td (measurement ) Tj ET Q q 0 0 0 rg BT 350.02 241.20 Td (of ) Tj ET Q q 0 0 0 rg BT 360.85 241.20 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 401.41 241.20 Td ( ) Tj ET Q q 0 0 0 rg BT 403.92 241.20 Td (Step ) Tj ET Q q 0 0 0 rg BT 424.20 241.20 Td (2 ) Tj ET Q q 0 0 0 rg BT 431.70 241.20 Td (measures ) Tj ET Q q 0 0 0 rg BT 471.41 241.20 Td (a ) Tj ET Q q 0 0 0 rg BT 478.35 241.20 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 516.41 241.20 Td (impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 229.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 67.63 229.20 Td (by ) Tj ET Q q 0 0 0 rg BT 80.19 229.20 Td (comparing ) Tj ET Q q 0 0 0 rg BT 125.52 229.20 Td (the ) Tj ET Q q 0 0 0 rg BT 140.30 229.20 Td (implied ) Tj ET Q q 0 0 0 rg BT 173.41 229.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 189.85 229.20 Td (value ) Tj ET Q q 0 0 0 rg BT 214.07 229.20 Td (of ) Tj ET Q q 0 0 0 rg BT 224.96 229.20 Td (a ) Tj ET Q q 0 0 0 rg BT 231.97 229.20 Td (reporting ) Tj ET Q q 0 0 0 rg BT 271.18 229.20 Td (unit) Tj ET Q q 0 0 0 rg BT 289.52 229.20 Td (s ) Tj ET Q q 0 0 0 rg BT 295.97 229.20 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 334.09 229.20 Td (with ) Tj ET Q q 0 0 0 rg BT 354.44 229.20 Td (the ) Tj ET Q q 0 0 0 rg BT 369.22 229.20 Td (carrying ) Tj ET Q q 0 0 0 rg BT 405.10 229.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 437.65 229.20 Td (of ) Tj ET Q q 0 0 0 rg BT 448.55 229.20 Td (that ) Tj ET Q q 0 0 0 rg BT 466.11 229.20 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 506.73 229.20 Td ( ) Tj ET Q q 0 0 0 rg BT 508.72 229.20 Td (As ) Tj ET Q q 0 0 0 rg BT 522.40 229.20 Td (a ) Tj ET Q q 0 0 0 rg BT 529.40 229.20 Td (result ) Tj ET Q q 0 0 0 rg BT 554.18 229.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 217.20 Td (this ) Tj ET Q q 0 0 0 rg BT 66.06 217.20 Td (ASU, ) Tj ET Q q 0 0 0 rg BT 91.26 217.20 Td (the ) Tj ET Q q 0 0 0 rg BT 106.19 217.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 147.78 217.20 Td (will ) Tj ET Q q 0 0 0 rg BT 166.04 217.20 Td (apply ) Tj ET Q q 0 0 0 rg BT 190.96 217.20 Td (a ) Tj ET Q q 0 0 0 rg BT 198.10 217.20 Td (one-step ) Tj ET Q q 0 0 0 rg BT 234.68 217.20 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 284.59 217.20 Td (test ) Tj ET Q q 0 0 0 rg BT 301.18 217.20 Td (and ) Tj ET Q q 0 0 0 rg BT 318.33 217.20 Td (record ) Tj ET Q q 0 0 0 rg BT 346.57 217.20 Td (the ) Tj ET Q q 0 0 0 rg BT 361.49 217.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 394.19 217.20 Td (of ) Tj ET Q q 0 0 0 rg BT 405.22 217.20 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 443.48 217.20 Td (impairment ) Tj ET Q q 0 0 0 rg BT 492.28 217.20 Td (as ) Tj ET Q q 0 0 0 rg BT 503.32 217.20 Td (the ) Tj ET Q q 0 0 0 rg BT 518.24 217.20 Td (excess ) Tj ET Q q 0 0 0 rg BT 547.04 217.20 Td (of ) Tj ET Q q 0 0 0 rg BT 558.08 217.20 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 205.20 Td (reporting ) Tj ET Q q 0 0 0 rg BT 88.08 205.20 Td (unit) Tj ET Q q 0 0 0 rg BT 106.42 205.20 Td (s ) Tj ET Q q 0 0 0 rg BT 112.24 205.20 Td (carrying ) Tj ET Q q 0 0 0 rg BT 147.48 205.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 179.41 205.20 Td (over ) Tj ET Q q 0 0 0 rg BT 199.10 205.20 Td (its ) Tj ET Q q 0 0 0 rg BT 210.48 205.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 226.29 205.20 Td (value, ) Tj ET Q q 0 0 0 rg BT 252.37 205.20 Td (not ) Tj ET Q q 0 0 0 rg BT 267.08 205.20 Td (to ) Tj ET Q q 0 0 0 rg BT 276.79 205.20 Td (exceed ) Tj ET Q q 0 0 0 rg BT 306.47 205.20 Td (the ) Tj ET Q q 0 0 0 rg BT 320.61 205.20 Td (total ) Tj ET Q q 0 0 0 rg BT 340.32 205.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 372.24 205.20 Td (of ) Tj ET Q q 0 0 0 rg BT 382.50 205.20 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 419.98 205.20 Td (allocated ) Tj ET Q q 0 0 0 rg BT 458.00 205.20 Td (to ) Tj ET Q q 0 0 0 rg BT 467.71 205.20 Td (the ) Tj ET Q q 0 0 0 rg BT 481.85 205.20 Td (reporting ) Tj ET Q q 0 0 0 rg BT 520.44 205.20 Td (unit. ) Tj ET Q q 0 0 0 rg BT 542.50 205.20 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 193.20 Td (2017-04is ) Tj ET Q q 0 0 0 rg BT 95.37 193.20 Td (ef) Tj ET Q q 0 0 0 rg BT 102.96 193.20 Td (fective ) Tj ET Q q 0 0 0 rg BT 133.53 193.20 Td (beginning ) Tj ET Q q 0 0 0 rg BT 176.90 193.20 Td (January ) Tj ET Q q 0 0 0 rg BT 211.37 193.20 Td (1, ) Tj ET Q q 0 0 0 rg BT 222.24 193.20 Td (2020, ) Tj ET Q q 0 0 0 rg BT 248.11 193.20 Td (with ) Tj ET Q q 0 0 0 rg BT 269.26 193.20 Td (early ) Tj ET Q q 0 0 0 rg BT 292.61 193.20 Td (adoption ) Tj ET Q q 0 0 0 rg BT 330.98 193.20 Td (permitted, ) Tj ET Q q 0 0 0 rg BT 375.17 193.20 Td (and ) Tj ET Q q 0 0 0 rg BT 392.98 193.20 Td (applied ) Tj ET Q q 0 0 0 rg BT 425.78 193.20 Td (prospectively) Tj ET Q q 0 0 0 rg BT 479.00 193.20 Td (. ) Tj ET Q q 0 0 0 rg BT 484.88 193.20 Td ( ) Tj ET Q q 0 0 0 rg BT 488.00 193.20 Td (The ) Tj ET Q q 0 0 0 rg BT 506.92 193.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 549.18 193.20 Td (has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 181.20 Td (elected ) Tj ET Q q 0 0 0 rg BT 80.31 181.20 Td (to ) Tj ET Q q 0 0 0 rg BT 90.58 181.20 Td (early ) Tj ET Q q 0 0 0 rg BT 113.06 181.20 Td (adopt ) Tj ET Q q 0 0 0 rg BT 137.77 181.20 Td (this ) Tj ET Q q 0 0 0 rg BT 154.16 181.20 Td (ASU ) Tj ET Q q 0 0 0 rg BT 176.66 181.20 Td (ef) Tj ET Q q 0 0 0 rg BT 184.25 181.20 Td (fective ) Tj ET Q q 0 0 0 rg BT 213.95 181.20 Td (for ) Tj ET Q q 0 0 0 rg BT 228.10 181.20 Td (the ) Tj ET Q q 0 0 0 rg BT 242.82 181.20 Td (current ) Tj ET Q q 0 0 0 rg BT 273.63 181.20 Td (reporting ) Tj ET Q q 0 0 0 rg BT 312.78 181.20 Td (period ) Tj ET Q q 0 0 0 rg BT 340.82 181.20 Td (in ) Tj ET Q q 0 0 0 rg BT 351.09 181.20 Td (its ) Tj ET Q q 0 0 0 rg BT 363.04 181.20 Td (impairment ) Tj ET Q q 0 0 0 rg BT 411.63 181.20 Td (testing ) Tj ET Q q 0 0 0 rg BT 440.79 181.20 Td (and ) Tj ET Q q 0 0 0 rg BT 457.72 181.20 Td (analyses. ) Tj ET Q q 0 0 0 rg BT 496.60 181.20 Td ( ) Tj ET Q q 0 0 0 rg BT 498.91 181.20 Td (The ) Tj ET Q q 0 0 0 rg BT 516.95 181.20 Td (Company) Tj ET Q q 0 0 0 rg BT 558.62 181.20 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 169.20 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 87.56 169.20 Td (is ) Tj ET Q q 0 0 0 rg BT 96.73 169.20 Td (described ) Tj ET Q q 0 0 0 rg BT 137.54 169.20 Td (in ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 147.8203125 167.86699218750005 m 174.7587890625 167.86699218750005 l s q 0 0 1 rg BT 147.82 169.20 Td (Note ) Tj ET Q q 0 0 1 rg BT 169.76 169.20 Td (7) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 174.76 169.20 Td ( ) Tj ET Q q 0 0 0 rg BT 177.26 169.20 Td (to ) Tj ET Q q 0 0 0 rg BT 187.54 169.20 Td (our ) Tj ET Q q 0 0 0 rg BT 203.37 169.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 240.85 169.20 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 145.20 Td (In ) Tj ET Q q 0 0 0 rg BT 60.53 145.20 Td (accordance ) Tj ET Q q 0 0 0 rg BT 108.19 145.20 Td (with ) Tj ET Q q 0 0 0 rg BT 128.08 145.20 Td (ASC ) Tj ET Q q 0 0 0 rg BT 150.23 145.20 Td (350, ) Tj ET Q q 0 0 0 rg BT 170.43 145.20 Td (the ) Tj ET Q q 0 0 0 rg BT 185.35 145.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 226.94 145.20 Td (analyzes ) Tj ET Q q 0 0 0 rg BT 264.07 145.20 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 302.32 145.20 Td (for ) Tj ET Q q 0 0 0 rg BT 316.69 145.20 Td (impairment ) Tj ET Q q 0 0 0 rg BT 365.49 145.20 Td (on ) Tj ET Q q 0 0 0 rg BT 378.19 145.20 Td (an ) Tj ET Q q 0 0 0 rg BT 390.33 145.20 Td (annual ) Tj ET Q q 0 0 0 rg BT 419.69 145.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 442.39 145.20 Td (\(or ) Tj ET Q q 0 0 0 rg BT 456.75 145.20 Td (more ) Tj ET Q q 0 0 0 rg BT 480.00 145.20 Td (often ) Tj ET Q q 0 0 0 rg BT 503.25 145.20 Td (if ) Tj ET Q q 0 0 0 rg BT 512.06 145.20 Td (indicators ) Tj ET Q q 0 0 0 rg BT 554.19 145.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 133.20 Td (impairment ) Tj ET Q q 0 0 0 rg BT 97.51 133.20 Td (exist\). ) Tj ET Q q 0 0 0 rg BT 124.14 133.20 Td ( ) Tj ET Q q 0 0 0 rg BT 125.91 133.20 Td (The ) Tj ET Q q 0 0 0 rg BT 143.37 133.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 184.16 133.20 Td (performs ) Tj ET Q q 0 0 0 rg BT 222.17 133.20 Td (a ) Tj ET Q q 0 0 0 rg BT 228.52 133.20 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 272.64 133.20 Td (assessment ) Tj ET Q q 0 0 0 rg BT 318.99 133.20 Td (to ) Tj ET Q q 0 0 0 rg BT 328.68 133.20 Td (determine ) Tj ET Q q 0 0 0 rg BT 370.57 133.20 Td (whether ) Tj ET Q q 0 0 0 rg BT 404.69 133.20 Td (the ) Tj ET Q q 0 0 0 rg BT 418.81 133.20 Td (existence ) Tj ET Q q 0 0 0 rg BT 457.93 133.20 Td (of ) Tj ET Q q 0 0 0 rg BT 468.17 133.20 Td (events ) Tj ET Q q 0 0 0 rg BT 495.63 133.20 Td (or ) Tj ET Q q 0 0 0 rg BT 505.87 133.20 Td (circumstances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 121.20 Td (leads ) Tj ET Q q 0 0 0 rg BT 72.16 121.20 Td (to ) Tj ET Q q 0 0 0 rg BT 82.05 121.20 Td (a ) Tj ET Q q 0 0 0 rg BT 88.60 121.20 Td (determination ) Tj ET Q q 0 0 0 rg BT 146.25 121.20 Td (that ) Tj ET Q q 0 0 0 rg BT 163.35 121.20 Td (it ) Tj ET Q q 0 0 0 rg BT 171.02 121.20 Td (is ) Tj ET Q q 0 0 0 rg BT 179.81 121.20 Td (more-likely-than-not ) Tj ET Q q 0 0 0 rg BT 265.22 121.20 Td (that ) Tj ET Q q 0 0 0 rg BT 282.33 121.20 Td (the ) Tj ET Q q 0 0 0 rg BT 296.66 121.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 312.65 121.20 Td (value ) Tj ET Q q 0 0 0 rg BT 336.41 121.20 Td (of ) Tj ET Q q 0 0 0 rg BT 346.86 121.20 Td (a ) Tj ET Q q 0 0 0 rg BT 353.41 121.20 Td (reporting ) Tj ET Q q 0 0 0 rg BT 392.17 121.20 Td (unit ) Tj ET Q q 0 0 0 rg BT 409.84 121.20 Td (is ) Tj ET Q q 0 0 0 rg BT 418.62 121.20 Td (less ) Tj ET Q q 0 0 0 rg BT 435.74 121.20 Td (than ) Tj ET Q q 0 0 0 rg BT 455.06 121.20 Td (its ) Tj ET Q q 0 0 0 rg BT 466.62 121.20 Td (carrying ) Tj ET Q q 0 0 0 rg BT 502.05 121.20 Td (amount. ) Tj ET Q q 0 0 0 rg BT 536.66 121.20 Td ( ) Tj ET Q q 0 0 0 rg BT 538.62 121.20 Td (When ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 109.20 Td (performing ) Tj ET Q q 0 0 0 rg BT 96.94 109.20 Td (a ) Tj ET Q q 0 0 0 rg BT 103.83 109.20 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 148.50 109.20 Td (assessment, ) Tj ET Q q 0 0 0 rg BT 197.89 109.20 Td (the ) Tj ET Q q 0 0 0 rg BT 212.56 109.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 253.90 109.20 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 293.56 109.20 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 338.22 109.20 Td (factors ) Tj ET Q q 0 0 0 rg BT 367.88 109.20 Td (such ) Tj ET Q q 0 0 0 rg BT 388.67 109.20 Td (as ) Tj ET Q q 0 0 0 rg BT 399.46 109.20 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 413.57 109.20 Td (macroeconomic ) Tj ET Q q 0 0 0 rg BT 479.88 109.20 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 526.50 109.20 Td (such ) Tj ET Q q 0 0 0 rg BT 547.29 109.20 Td (as ) Tj ET Q q 0 0 0 rg BT 558.07 109.20 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 97.20 Td (deterioration ) Tj ET Q q 0 0 0 rg BT 103.15 97.20 Td (in ) Tj ET Q q 0 0 0 rg BT 113.48 97.20 Td (general ) Tj ET Q q 0 0 0 rg BT 145.47 97.20 Td (economic ) Tj ET Q q 0 0 0 rg BT 186.90 97.20 Td (conditions; ) Tj ET Q q 0 0 0 rg BT 233.90 97.20 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 248.12 97.20 Td (industry ) Tj ET Q q 0 0 0 rg BT 283.46 97.20 Td (and ) Tj ET Q q 0 0 0 rg BT 300.45 97.20 Td (market ) Tj ET Q q 0 0 0 rg BT 330.77 97.20 Td (considerations ) Tj ET Q q 0 0 0 rg BT 391.10 97.20 Td (such ) Tj ET Q q 0 0 0 rg BT 411.99 97.20 Td (as ) Tj ET Q q 0 0 0 rg BT 422.87 97.20 Td (deterioration ) Tj ET Q q 0 0 0 rg BT 476.52 97.20 Td (in ) Tj ET Q q 0 0 0 rg BT 486.86 97.20 Td (the ) Tj ET Q q 0 0 0 rg BT 501.63 97.20 Td (environment ) Tj ET Q q 0 0 0 rg BT 554.73 97.20 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 85.20 Td (which ) Tj ET Q q 0 0 0 rg BT 76.07 85.20 Td (the ) Tj ET Q q 0 0 0 rg BT 90.42 85.20 Td (entity ) Tj ET Q q 0 0 0 rg BT 115.33 85.20 Td (operates; ) Tj ET Q q 0 0 0 rg BT 153.55 85.20 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 167.35 85.20 Td (cost ) Tj ET Q q 0 0 0 rg BT 185.59 85.20 Td (factors ) Tj ET Q q 0 0 0 rg BT 214.93 85.20 Td (such ) Tj ET Q q 0 0 0 rg BT 235.39 85.20 Td (as ) Tj ET Q q 0 0 0 rg BT 245.85 85.20 Td (increases ) Tj ET Q q 0 0 0 rg BT 284.63 85.20 Td (in ) Tj ET Q q 0 0 0 rg BT 294.54 85.20 Td (raw ) Tj ET Q q 0 0 0 rg BT 311.67 85.20 Td (materials ) Tj ET Q q 0 0 0 rg BT 350.45 85.20 Td (and ) Tj ET Q q 0 0 0 rg BT 367.02 85.20 Td (labor ) Tj ET Q q 0 0 0 rg BT 389.70 85.20 Td (costs; ) Tj ET Q q 0 0 0 rg BT 414.61 85.20 Td (and ) Tj ET Q q 0 0 0 rg BT 431.18 85.20 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 444.98 85.20 Td (overall ) Tj ET Q q 0 0 0 rg BT 474.87 85.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 511.99 85.20 Td (performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 73.20 Td (such ) Tj ET Q q 0 0 0 rg BT 70.61 73.20 Td (as ) Tj ET Q q 0 0 0 rg BT 81.73 73.20 Td (negative ) Tj ET Q q 0 0 0 rg BT 118.38 73.20 Td (or ) Tj ET Q q 0 0 0 rg BT 129.50 73.20 Td (declining ) Tj ET Q q 0 0 0 rg BT 169.49 73.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 190.04 73.20 Td (flows ) Tj ET Q q 0 0 0 rg BT 215.05 73.20 Td (or ) Tj ET Q q 0 0 0 rg BT 226.16 73.20 Td (a ) Tj ET Q q 0 0 0 rg BT 233.38 73.20 Td (decline ) Tj ET Q q 0 0 0 rg BT 265.04 73.20 Td (in ) Tj ET Q q 0 0 0 rg BT 275.60 73.20 Td (actual ) Tj ET Q q 0 0 0 rg BT 302.25 73.20 Td (or ) Tj ET Q q 0 0 0 rg BT 313.37 73.20 Td (planned ) Tj ET Q q 0 0 0 rg BT 347.81 73.20 Td (revenue ) Tj ET Q q 0 0 0 rg BT 382.23 73.20 Td (or ) Tj ET Q q 0 0 0 rg BT 393.35 73.20 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 432.51 73.20 Td (to ) Tj ET Q q 0 0 0 rg BT 443.07 73.20 Td (determine ) Tj ET Q q 0 0 0 rg BT 485.83 73.20 Td (if ) Tj ET Q q 0 0 0 rg BT 494.72 73.20 Td (it ) Tj ET Q q 0 0 0 rg BT 503.06 73.20 Td (is ) Tj ET Q q 0 0 0 rg BT 512.52 73.20 Td (more-likely-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 61.20 Td (than-not ) Tj ET Q q 0 0 0 rg BT 85.51 61.20 Td (that ) Tj ET Q q 0 0 0 rg BT 103.19 61.20 Td (the ) Tj ET Q q 0 0 0 rg BT 118.09 61.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 134.65 61.20 Td (value ) Tj ET Q q 0 0 0 rg BT 158.99 61.20 Td (of ) Tj ET Q q 0 0 0 rg BT 170.01 61.20 Td (the ) Tj ET Q q 0 0 0 rg BT 184.91 61.20 Td (reporting ) Tj ET Q q 0 0 0 rg BT 224.25 61.20 Td (unit ) Tj ET Q q 0 0 0 rg BT 242.49 61.20 Td (is ) Tj ET Q q 0 0 0 rg BT 251.84 61.20 Td (less ) Tj ET Q q 0 0 0 rg BT 269.53 61.20 Td (than ) Tj ET Q q 0 0 0 rg BT 289.43 61.20 Td (its ) Tj ET Q q 0 0 0 rg BT 301.56 61.20 Td (carrying ) Tj ET Q q 0 0 0 rg BT 337.56 61.20 Td (amount. ) Tj ET Q q 0 0 0 rg BT 372.74 61.20 Td ( ) Tj ET Q q 0 0 0 rg BT 375.43 61.20 Td (If ) Tj ET Q q 0 0 0 rg BT 384.77 61.20 Td (the ) Tj ET Q q 0 0 0 rg BT 399.67 61.20 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 444.56 61.20 Td (assessment ) Tj ET Q q 0 0 0 rg BT 491.69 61.20 Td (indicates ) Tj ET Q q 0 0 0 rg BT 529.91 61.20 Td (that ) Tj ET Q q 0 0 0 rg BT 547.59 61.20 Td (it ) Tj ET Q q 0 0 0 rg BT 555.83 61.20 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 49.20 Td (more-likely-than-not ) Tj ET Q q 0 0 0 rg BT 135.97 49.20 Td (that ) Tj ET Q q 0 0 0 rg BT 154.12 49.20 Td (the ) Tj ET Q q 0 0 0 rg BT 169.50 49.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 186.54 49.20 Td (value ) Tj ET Q q 0 0 0 rg BT 211.36 49.20 Td (of ) Tj ET Q q 0 0 0 rg BT 222.85 49.20 Td (the ) Tj ET Q q 0 0 0 rg BT 238.23 49.20 Td (reporting ) Tj ET Q q 0 0 0 rg BT 278.04 49.20 Td (unit ) Tj ET Q q 0 0 0 rg BT 296.76 49.20 Td (is ) Tj ET Q q 0 0 0 rg BT 306.59 49.20 Td (less ) Tj ET Q q 0 0 0 rg BT 324.76 49.20 Td (than ) Tj ET Q q 0 0 0 rg BT 345.13 49.20 Td (its ) Tj ET Q q 0 0 0 rg BT 357.74 49.20 Td (carrying ) Tj ET Q q 0 0 0 rg BT 394.22 49.20 Td (amount, ) Tj ET Q q 0 0 0 rg BT 429.88 49.20 Td (then ) Tj ET Q q 0 0 0 rg BT 450.26 49.20 Td (a ) Tj ET Q q 0 0 0 rg BT 457.86 49.20 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 508.23 49.20 Td (assessment ) Tj ET Q q 0 0 0 rg BT 555.83 49.20 Td (is ) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 92.57 740.10 Td (to ) Tj ET Q q 0 0 0 rg BT 101.77 740.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 143.17 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.81 740.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 194.89 740.10 Td (unit) Tj ET Q q 0 0 0 rg BT 213.22 740.10 Td (s ) Tj ET Q q 0 0 0 rg BT 218.54 740.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 233.84 740.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 259.41 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 260.84 740.10 Td (If ) Tj ET Q q 0 0 0 rg BT 268.92 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 282.56 740.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 320.64 740.10 Td (unit) Tj ET Q q 0 0 0 rg BT 338.97 740.10 Td (s ) Tj ET Q q 0 0 0 rg BT 344.28 740.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 379.02 740.10 Td (value ) Tj ET Q q 0 0 0 rg BT 402.10 740.10 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 435.17 740.10 Td (its ) Tj ET Q q 0 0 0 rg BT 446.04 740.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 461.34 740.10 Td (value, ) Tj ET Q q 0 0 0 rg BT 486.92 740.10 Td (then ) Tj ET Q q 0 0 0 rg BT 505.55 740.10 Td (an ) Tj ET Q q 0 0 0 rg BT 516.42 740.10 Td (impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 67.56 728.10 Td (is ) Tj ET Q q 0 0 0 rg BT 76.73 728.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 123.09 728.10 Td (for ) Tj ET Q q 0 0 0 rg BT 137.25 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 151.97 728.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 184.47 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 195.30 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.01 728.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 238.61 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 249.44 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 264.16 728.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 299.97 728.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 332.47 728.10 Td (over ) Tj ET Q q 0 0 0 rg BT 352.74 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 367.45 728.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 406.61 728.10 Td (unit) Tj ET Q q 0 0 0 rg BT 424.94 728.10 Td (s ) Tj ET Q q 0 0 0 rg BT 431.34 728.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 447.71 728.10 Td (value.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.96 704.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 114.52 704.10 Td (of ) Tj ET Q q 0 0 0 rg BT 126.75 704.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 166.22 704.10 Td (for ) Tj ET Q q 0 0 0 rg BT 181.79 704.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 218.48 704.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 268.49 704.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 305.72 704.10 Td (estimating ) Tj ET Q q 0 0 0 rg BT 351.29 704.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 369.08 704.10 Td (value ) Tj ET Q q 0 0 0 rg BT 394.64 704.10 Td (using ) Tj ET Q q 0 0 0 rg BT 420.22 704.10 Td (one ) Tj ET Q q 0 0 0 rg BT 438.57 704.10 Td (or ) Tj ET Q q 0 0 0 rg BT 450.81 704.10 Td (a ) Tj ET Q q 0 0 0 rg BT 459.15 704.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 513.05 704.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.29 704.10 Td (valuation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (techniques, ) Tj ET Q q 0 0 0 rg BT 97.25 692.10 Td (such ) Tj ET Q q 0 0 0 rg BT 118.06 692.10 Td (as ) Tj ET Q q 0 0 0 rg BT 128.87 692.10 Td (discounted ) Tj ET Q q 0 0 0 rg BT 174.68 692.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 194.93 692.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 222.13 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 224.43 692.10 Td (These ) Tj ET Q q 0 0 0 rg BT 250.79 692.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 294.38 692.10 Td (require ) Tj ET Q q 0 0 0 rg BT 325.17 692.10 Td (the ) Tj ET Q q 0 0 0 rg BT 339.87 692.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 381.24 692.10 Td (to ) Tj ET Q q 0 0 0 rg BT 391.50 692.10 Td (make ) Tj ET Q q 0 0 0 rg BT 415.64 692.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 455.33 692.10 Td (and ) Tj ET Q q 0 0 0 rg BT 472.25 692.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 524.18 692.10 Td (regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (future ) Tj ET Q q 0 0 0 rg BT 75.59 680.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 115.57 680.10 Td (results, ) Tj ET Q q 0 0 0 rg BT 146.39 680.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 166.37 680.10 Td (flows, ) Tj ET Q q 0 0 0 rg BT 193.31 680.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 227.73 680.10 Td (in ) Tj ET Q q 0 0 0 rg BT 237.72 680.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 266.58 680.10 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 322.39 680.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 351.27 680.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 379.86 680.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 426.98 680.10 Td (, ) Tj ET Q q 0 0 0 rg BT 431.69 680.10 Td (and ) Tj ET Q q 0 0 0 rg BT 448.34 680.10 Td (the ) Tj ET Q q 0 0 0 rg BT 462.77 680.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 481.09 680.10 Td (of ) Tj ET Q q 0 0 0 rg BT 491.64 680.10 Td (capital. ) Tj ET Q q 0 0 0 rg BT 523.00 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 524.73 680.10 Td (Although ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.77 668.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 104.71 668.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 139.53 668.10 Td (its ) Tj ET Q q 0 0 0 rg BT 151.03 668.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 202.53 668.10 Td (and ) Tj ET Q q 0 0 0 rg BT 219.02 668.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 258.29 668.10 Td (are ) Tj ET Q q 0 0 0 rg BT 272.55 668.10 Td (reasonable, ) Tj ET Q q 0 0 0 rg BT 319.85 668.10 Td (deviations ) Tj ET Q q 0 0 0 rg BT 363.01 668.10 Td (from ) Tj ET Q q 0 0 0 rg BT 384.50 668.10 Td (the ) Tj ET Q q 0 0 0 rg BT 398.77 668.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 450.27 668.10 Td (and ) Tj ET Q q 0 0 0 rg BT 466.77 668.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 506.03 668.10 Td (could ) Tj ET Q q 0 0 0 rg BT 530.30 668.10 Td (produce ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.44 656.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 99.48 656.10 Td (dif) Tj ET Q q 0 0 0 rg BT 110.40 656.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 136.22 656.10 Td (result.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (Recently ) Tj ET Q q 0 0 0 rg BT 87.17 632.10 Td (Adopted ) Tj ET Q q 0 0 0 rg BT 123.19 632.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 173.47 632.10 Td (Standards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.44 608.10 Td (May ) Tj ET Q q 0 0 0 rg BT 81.38 608.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 106.49 608.10 Td (the ) Tj ET Q q 0 0 0 rg BT 121.32 608.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 160.57 608.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 209.84 608.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 251.89 608.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 278.94 608.10 Td (\(F) Tj ET Q q 0 0 0 rg BT 291.52 608.10 Td (ASB\) ) Tj ET Q q 0 0 0 rg BT 321.36 608.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 348.39 608.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 397.66 608.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 439.71 608.10 Td (Update ) Tj ET Q q 0 0 0 rg BT 471.20 608.10 Td (\(ASU\) ) Tj ET Q q 0 0 0 rg BT 509.35 608.10 Td (No. ) Tj ET Q q 0 0 0 rg BT 526.68 608.10 Td (2014-09, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 86.75 596.10 Td (fr) Tj ET Q q 0 0 0 rg BT 93.05 596.10 Td (om ) Tj ET Q q 0 0 0 rg BT 108.67 596.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 151.51 596.10 Td (with ) Tj ET Q q 0 0 0 rg BT 172.13 596.10 Td (Customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.30 596.10 Td (\(ASU ) Tj ET Q q 0 0 0 rg BT 249.47 596.10 Td (2014-09\), ) Tj ET Q q 0 0 0 rg BT 296.46 596.10 Td (which ) Tj ET Q q 0 0 0 rg BT 324.29 596.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 362.12 596.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 401.61 596.10 Td (for ) Tj ET Q q 0 0 0 rg BT 416.66 596.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 451.70 596.10 Td (recognition. ) Tj ET Q q 0 0 0 rg BT 503.13 596.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.78 596.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 529.18 596.10 Td (2014-09 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.09 584.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 77.71 584.10 Td (any ) Tj ET Q q 0 0 0 rg BT 93.90 584.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 118.42 584.10 Td (that ) Tj ET Q q 0 0 0 rg BT 135.16 584.10 Td (either ) Tj ET Q q 0 0 0 rg BT 159.68 584.10 Td (enters ) Tj ET Q q 0 0 0 rg BT 185.30 584.10 Td (into ) Tj ET Q q 0 0 0 rg BT 202.61 584.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 240.45 584.10 Td (with ) Tj ET Q q 0 0 0 rg BT 259.97 584.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 302.27 584.10 Td (to ) Tj ET Q q 0 0 0 rg BT 311.79 584.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 344.08 584.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 369.72 584.10 Td (or ) Tj ET Q q 0 0 0 rg BT 379.80 584.10 Td (services ) Tj ET Q q 0 0 0 rg BT 413.75 584.10 Td (or ) Tj ET Q q 0 0 0 rg BT 423.83 584.10 Td (enters ) Tj ET Q q 0 0 0 rg BT 449.46 584.10 Td (into ) Tj ET Q q 0 0 0 rg BT 466.76 584.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 504.60 584.10 Td (for ) Tj ET Q q 0 0 0 rg BT 518.01 584.10 Td (the ) Tj ET Q q 0 0 0 rg BT 531.98 584.10 Td (transfer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.76 572.10 Td (nonfinancial ) Tj ET Q q 0 0 0 rg BT 111.68 572.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 136.94 572.10 Td (and ) Tj ET Q q 0 0 0 rg BT 153.31 572.10 Td (supersedes ) Tj ET Q q 0 0 0 rg BT 198.57 572.10 Td (the ) Tj ET Q q 0 0 0 rg BT 212.72 572.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 246.30 572.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 293.77 572.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 347.91 572.10 Td (in ) Tj ET Q q 0 0 0 rg BT 357.19 572.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 378.58 572.10 Td (605 ) Tj ET Q q 0 0 0 rg BT 395.51 572.10 Td (and ) Tj ET Q q 0 0 0 rg BT 411.89 572.10 Td (most ) Tj ET Q q 0 0 0 rg BT 433.27 572.10 Td (industry-specific ) Tj ET Q q 0 0 0 rg BT 502.40 572.10 Td (guidance. ) Tj ET Q q 0 0 0 rg BT 542.93 572.10 Td ( ) Tj ET Q q 0 0 0 rg BT 544.72 572.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 71.32 560.10 Td (also ) Tj ET Q q 0 0 0 rg BT 89.23 560.10 Td (supersedes ) Tj ET Q q 0 0 0 rg BT 134.37 560.10 Td (some ) Tj ET Q q 0 0 0 rg BT 157.28 560.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 175.20 560.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 213.11 560.10 Td (included ) Tj ET Q q 0 0 0 rg BT 249.35 560.10 Td (in ) Tj ET Q q 0 0 0 rg BT 258.94 560.10 Td (Subtopic ) Tj ET Q q 0 0 0 rg BT 296.31 560.10 Td (605-35, ) Tj ET Q q 0 0 0 rg BT 328.95 560.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 370.18 560.10 Td (Recognition-Construction-T) Tj ET Q q 0 0 0 rg BT 482.80 560.10 Td (ype ) Tj ET Q q 0 0 0 rg BT 499.05 560.10 Td (and ) Tj ET Q q 0 0 0 rg BT 515.30 560.10 Td (Production-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (T) Tj ET Q q 0 0 0 rg BT 54.91 548.10 Td (ype ) Tj ET Q q 0 0 0 rg BT 72.29 548.10 Td (Contracts. ) Tj ET Q q 0 0 0 rg BT 120.49 548.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.79 548.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 145.73 548.10 Td (2014-09) Tj ET Q q 0 0 0 rg BT 181.84 548.10 Td (s ) Tj ET Q q 0 0 0 rg BT 188.67 548.10 Td (core ) Tj ET Q q 0 0 0 rg BT 208.82 548.10 Td (principle ) Tj ET Q q 0 0 0 rg BT 247.30 548.10 Td (is ) Tj ET Q q 0 0 0 rg BT 256.91 548.10 Td (that ) Tj ET Q q 0 0 0 rg BT 274.85 548.10 Td (a ) Tj ET Q q 0 0 0 rg BT 282.23 548.10 Td (company ) Tj ET Q q 0 0 0 rg BT 321.83 548.10 Td (will ) Tj ET Q q 0 0 0 rg BT 340.32 548.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 382.13 548.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 416.71 548.10 Td (when ) Tj ET Q q 0 0 0 rg BT 441.31 548.10 Td (it ) Tj ET Q q 0 0 0 rg BT 449.81 548.10 Td (transfers ) Tj ET Q q 0 0 0 rg BT 487.18 548.10 Td (promised ) Tj ET Q q 0 0 0 rg BT 527.34 548.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 554.17 548.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (services ) Tj ET Q q 0 0 0 rg BT 83.90 536.10 Td (to ) Tj ET Q q 0 0 0 rg BT 93.86 536.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 136.60 536.10 Td (in ) Tj ET Q q 0 0 0 rg BT 146.57 536.10 Td (an ) Tj ET Q q 0 0 0 rg BT 158.19 536.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 190.38 536.10 Td (that ) Tj ET Q q 0 0 0 rg BT 207.56 536.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 239.17 536.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.58 536.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 309.64 536.10 Td (to ) Tj ET Q q 0 0 0 rg BT 319.61 536.10 Td (which ) Tj ET Q q 0 0 0 rg BT 346.24 536.10 Td (a ) Tj ET Q q 0 0 0 rg BT 352.86 536.10 Td (company ) Tj ET Q q 0 0 0 rg BT 391.71 536.10 Td (expects ) Tj ET Q q 0 0 0 rg BT 423.88 536.10 Td (to ) Tj ET Q q 0 0 0 rg BT 433.85 536.10 Td (be ) Tj ET Q q 0 0 0 rg BT 445.48 536.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 477.66 536.10 Td (in ) Tj ET Q q 0 0 0 rg BT 487.62 536.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 527.57 536.10 Td (for ) Tj ET Q q 0 0 0 rg BT 541.42 536.10 Td (those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 75.56 524.10 Td (or ) Tj ET Q q 0 0 0 rg BT 86.07 524.10 Td (services. ) Tj ET Q q 0 0 0 rg BT 122.95 524.10 Td ( ) Tj ET Q q 0 0 0 rg BT 125.12 524.10 Td (In ) Tj ET Q q 0 0 0 rg BT 135.62 524.10 Td (doing ) Tj ET Q q 0 0 0 rg BT 160.57 524.10 Td (so, ) Tj ET Q q 0 0 0 rg BT 174.14 524.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 219.08 524.10 Td (will ) Tj ET Q q 0 0 0 rg BT 236.80 524.10 Td (need ) Tj ET Q q 0 0 0 rg BT 257.85 524.10 Td (to ) Tj ET Q q 0 0 0 rg BT 267.81 524.10 Td (use ) Tj ET Q q 0 0 0 rg BT 283.31 524.10 Td (more ) Tj ET Q q 0 0 0 rg BT 306.03 524.10 Td (judgment ) Tj ET Q q 0 0 0 rg BT 345.97 524.10 Td (and ) Tj ET Q q 0 0 0 rg BT 362.59 524.10 Td (make ) Tj ET Q q 0 0 0 rg BT 386.41 524.10 Td (more ) Tj ET Q q 0 0 0 rg BT 409.13 524.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 448.52 524.10 Td (than ) Tj ET Q q 0 0 0 rg BT 467.91 524.10 Td (under ) Tj ET Q q 0 0 0 rg BT 492.85 524.10 Td (today) Tj ET Q q 0 0 0 rg BT 517.84 524.10 Td (s ) Tj ET Q q 0 0 0 rg BT 523.91 524.10 Td (guidance, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.10 Td (including ) Tj ET Q q 0 0 0 rg BT 90.16 512.10 Td (identifying ) Tj ET Q q 0 0 0 rg BT 136.93 512.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 190.34 512.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 237.67 512.10 Td (in ) Tj ET Q q 0 0 0 rg BT 248.34 512.10 Td (the ) Tj ET Q q 0 0 0 rg BT 263.45 512.10 Td (contract, ) Tj ET Q q 0 0 0 rg BT 301.04 512.10 Td (estimating ) Tj ET Q q 0 0 0 rg BT 345.58 512.10 Td (the ) Tj ET Q q 0 0 0 rg BT 360.69 512.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 393.57 512.10 Td (of ) Tj ET Q q 0 0 0 rg BT 404.79 512.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 439.88 512.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 496.64 512.10 Td (to ) Tj ET Q q 0 0 0 rg BT 507.31 512.10 Td (include ) Tj ET Q q 0 0 0 rg BT 539.63 512.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.30 512.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 95.94 500.10 Td (price ) Tj ET Q q 0 0 0 rg BT 118.48 500.10 Td (and ) Tj ET Q q 0 0 0 rg BT 135.49 500.10 Td (allocating ) Tj ET Q q 0 0 0 rg BT 177.48 500.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.26 500.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 238.69 500.10 Td (price ) Tj ET Q q 0 0 0 rg BT 261.24 500.10 Td (to ) Tj ET Q q 0 0 0 rg BT 271.58 500.10 Td (each ) Tj ET Q q 0 0 0 rg BT 292.46 500.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 327.78 500.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 380.87 500.10 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 426.48 500.10 Td ( ) Tj ET Q q 0 0 0 rg BT 429.05 500.10 Td (In ) Tj ET Q q 0 0 0 rg BT 439.37 500.10 Td (August ) Tj ET Q q 0 0 0 rg BT 470.83 500.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 495.89 500.10 Td (the ) Tj ET Q q 0 0 0 rg BT 510.67 500.10 Td (F) Tj ET Q q 0 0 0 rg BT 515.49 500.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 537.51 500.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 72.19 488.10 Td (No. ) Tj ET Q q 0 0 0 rg BT 89.61 488.10 Td (2015-14, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 128.13 488.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 164.68 488.10 Td (fr) Tj ET Q q 0 0 0 rg BT 170.98 488.10 Td (om ) Tj ET Q q 0 0 0 rg BT 185.89 488.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 228.02 488.10 Td (with ) Tj ET Q q 0 0 0 rg BT 247.94 488.10 Td (Customers: ) Tj ET Q q 0 0 0 rg BT 296.74 488.10 Td (Deferral ) Tj ET Q q 0 0 0 rg BT 333.87 488.10 Td (of ) Tj ET Q q 0 0 0 rg BT 344.34 488.10 Td (the ) Tj ET Q q 0 0 0 rg BT 359.25 488.10 Td (Effective ) Tj ET Q q 0 0 0 rg BT 396.91 488.10 Td (Date) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.35 488.10 Td (, ) Tj ET Q q 0 0 0 rg BT 421.54 488.10 Td (which ) Tj ET Q q 0 0 0 rg BT 448.67 488.10 Td (delayed ) Tj ET Q q 0 0 0 rg BT 482.45 488.10 Td (the ) Tj ET Q q 0 0 0 rg BT 497.36 488.10 Td (ef) Tj ET Q q 0 0 0 rg BT 504.94 488.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 534.83 488.10 Td (date ) Tj ET Q q 0 0 0 rg BT 554.18 488.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 72.06 476.10 Td (2014-09 ) Tj ET Q q 0 0 0 rg BT 107.95 476.10 Td (by ) Tj ET Q q 0 0 0 rg BT 120.51 476.10 Td (one ) Tj ET Q q 0 0 0 rg BT 137.50 476.10 Td (year) Tj ET Q q 0 0 0 rg BT 154.16 476.10 Td (. ) Tj ET Q q 0 0 0 rg BT 159.22 476.10 Td ( ) Tj ET Q q 0 0 0 rg BT 161.21 476.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 183.77 476.10 Td (2014-09, ) Tj ET Q q 0 0 0 rg BT 222.16 476.10 Td (as ) Tj ET Q q 0 0 0 rg BT 233.05 476.10 Td (amended, ) Tj ET Q q 0 0 0 rg BT 274.20 476.10 Td (is ) Tj ET Q q 0 0 0 rg BT 283.43 476.10 Td (ef) Tj ET Q q 0 0 0 rg BT 291.01 476.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 320.77 476.10 Td (for ) Tj ET Q q 0 0 0 rg BT 334.99 476.10 Td (public ) Tj ET Q q 0 0 0 rg BT 362.54 476.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 407.87 476.10 Td (for ) Tj ET Q q 0 0 0 rg BT 422.08 476.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 451.30 476.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 490.51 476.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 522.51 476.10 Td (beginning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (after ) Tj ET Q q 0 0 0 rg BT 70.32 464.10 Td (December ) Tj ET Q q 0 0 0 rg BT 113.90 464.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 128.90 464.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 153.90 464.10 Td (including ) Tj ET Q q 0 0 0 rg BT 194.17 464.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 225.55 464.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 264.71 464.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 296.65 464.10 Td (within ) Tj ET Q q 0 0 0 rg BT 324.71 464.10 Td (that ) Tj ET Q q 0 0 0 rg BT 342.20 464.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 381.36 464.10 Td (period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 442.10 Td (Subsequent ) Tj ET Q q 0 0 0 rg BT 98.06 442.10 Td (to ) Tj ET Q q 0 0 0 rg BT 108.29 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.96 442.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 159.29 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 169.54 442.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 192.00 442.10 Td (2014-09, ) Tj ET Q q 0 0 0 rg BT 230.28 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.95 442.10 Td (F) Tj ET Q q 0 0 0 rg BT 249.77 442.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 271.68 442.10 Td (has ) Tj ET Q q 0 0 0 rg BT 287.46 442.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 314.91 442.10 Td (several ) Tj ET Q q 0 0 0 rg BT 345.14 442.10 Td (ASUs, ) Tj ET Q q 0 0 0 rg BT 373.99 442.10 Td (such ) Tj ET Q q 0 0 0 rg BT 394.77 442.10 Td (as ) Tj ET Q q 0 0 0 rg BT 405.02 442.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 427.48 442.10 Td (2016-08, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 465.76 442.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 502.07 442.10 Td (fr) Tj ET Q q 0 0 0 rg BT 508.37 442.10 Td (om ) Tj ET Q q 0 0 0 rg BT 523.05 442.10 Td (Contracts ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 430.10 Td (with ) Tj ET Q q 0 0 0 rg BT 70.21 430.10 Td (Customers: ) Tj ET Q q 0 0 0 rg BT 119.80 430.10 Td (Principal ) Tj ET Q q 0 0 0 rg BT 161.05 430.10 Td (versus ) Tj ET Q q 0 0 0 rg BT 189.83 430.10 Td (Agent ) Tj ET Q q 0 0 0 rg BT 216.64 430.10 Td (Considerations ) Tj ET Q q 0 0 0 rg BT 281.24 430.10 Td (\(Reporting ) Tj ET Q q 0 0 0 rg BT 328.04 430.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 365.39 430.10 Td (Gr) Tj ET Q q 0 0 0 rg BT 376.13 430.10 Td (oss ) Tj ET Q q 0 0 0 rg BT 392.39 430.10 Td (versus ) Tj ET Q q 0 0 0 rg BT 421.43 430.10 Td (Net\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.64 430.10 Td (, ) Tj ET Q q 0 0 0 rg BT 443.85 430.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 467.34 430.10 Td (2016-10, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 506.65 430.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 543.99 430.10 Td (fr) Tj ET Q q 0 0 0 rg BT 550.29 430.10 Td (om ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 418.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 91.25 418.10 Td (with ) Tj ET Q q 0 0 0 rg BT 110.78 418.10 Td (Customers: ) Tj ET Q q 0 0 0 rg BT 159.20 418.10 Td (Identifying ) Tj ET Q q 0 0 0 rg BT 204.82 418.10 Td (Performance ) Tj ET Q q 0 0 0 rg BT 259.33 418.10 Td (Obligations ) Tj ET Q q 0 0 0 rg BT 308.86 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 326.17 418.10 Td (Licensing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.05 418.10 Td (, ) Tj ET Q q 0 0 0 rg BT 369.86 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 386.09 418.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 408.40 418.10 Td (2016-12, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 446.53 418.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 482.70 418.10 Td (fr) Tj ET Q q 0 0 0 rg BT 489.00 418.10 Td (om ) Tj ET Q q 0 0 0 rg BT 503.52 418.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 545.28 418.10 Td (with ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 406.10 Td (Customers: ) Tj ET Q q 0 0 0 rg BT 97.62 406.10 Td (Narr) Tj ET Q q 0 0 0 rg BT 116.71 406.10 Td (ow-Scope ) Tj ET Q q 0 0 0 rg BT 157.59 406.10 Td (Impr) Tj ET Q q 0 0 0 rg BT 176.67 406.10 Td (ovements ) Tj ET Q q 0 0 0 rg BT 215.88 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.89 406.10 Td (Practical ) Tj ET Q q 0 0 0 rg BT 272.12 406.10 Td (Expedients) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.99 406.10 Td (. ) Tj ET Q q 0 0 0 rg BT 320.50 406.10 Td ( ) Tj ET Q q 0 0 0 rg BT 322.37 406.10 Td (These ) Tj ET Q q 0 0 0 rg BT 347.81 406.10 Td (ASUs ) Tj ET Q q 0 0 0 rg BT 373.72 406.10 Td (do ) Tj ET Q q 0 0 0 rg BT 385.73 406.10 Td (not ) Tj ET Q q 0 0 0 rg BT 400.52 406.10 Td (change ) Tj ET Q q 0 0 0 rg BT 430.84 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 445.07 406.10 Td (core ) Tj ET Q q 0 0 0 rg BT 464.29 406.10 Td (principle ) Tj ET Q q 0 0 0 rg BT 501.84 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 512.18 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.41 406.10 Td (guidance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 394.10 Td (stated ) Tj ET Q q 0 0 0 rg BT 75.01 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 84.48 394.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 106.67 394.10 Td (2014-09. ) Tj ET Q q 0 0 0 rg BT 144.68 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.86 394.10 Td (Instead, ) Tj ET Q q 0 0 0 rg BT 180.42 394.10 Td (these ) Tj ET Q q 0 0 0 rg BT 203.14 394.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 255.86 394.10 Td (are ) Tj ET Q q 0 0 0 rg BT 270.25 394.10 Td (intended ) Tj ET Q q 0 0 0 rg BT 306.87 394.10 Td (to ) Tj ET Q q 0 0 0 rg BT 316.82 394.10 Td (clarify ) Tj ET Q q 0 0 0 rg BT 345.10 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 361.72 394.10 Td (improve ) Tj ET Q q 0 0 0 rg BT 397.22 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 411.62 394.10 Td (operability ) Tj ET Q q 0 0 0 rg BT 457.12 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 467.63 394.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 497.01 394.10 Td (topics ) Tj ET Q q 0 0 0 rg BT 523.08 394.10 Td (addressed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 382.10 Td (by ) Tj ET Q q 0 0 0 rg BT 61.24 382.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 83.48 382.10 Td (2014-09. ) Tj ET Q q 0 0 0 rg BT 121.55 382.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.62 382.10 Td (These ) Tj ET Q q 0 0 0 rg BT 149.73 382.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 191.47 382.10 Td (ASUs ) Tj ET Q q 0 0 0 rg BT 217.60 382.10 Td (have ) Tj ET Q q 0 0 0 rg BT 238.71 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.16 382.10 Td (same ) Tj ET Q q 0 0 0 rg BT 275.94 382.10 Td (ef) Tj ET Q q 0 0 0 rg BT 283.53 382.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 312.97 382.10 Td (date ) Tj ET Q q 0 0 0 rg BT 331.86 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 348.53 382.10 Td (transition ) Tj ET Q q 0 0 0 rg BT 388.54 382.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 442.98 382.10 Td (as ) Tj ET Q q 0 0 0 rg BT 453.05 382.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 475.29 382.10 Td (2014-09, ) Tj ET Q q 0 0 0 rg BT 513.36 382.10 Td (as ) Tj ET Q q 0 0 0 rg BT 523.92 382.10 Td (amended.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 360.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 360.10 Td (e ) Tj ET Q q 0 0 0 rg BT 66.74 360.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 102.57 360.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.95 360.10 Td (standard, ) Tj ET Q q 0 0 0 rg BT 159.50 360.10 Td (and ) Tj ET Q q 0 0 0 rg BT 178.10 360.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.49 360.10 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 250.87 360.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 280.04 360.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 321.98 360.10 Td (mentioned ) Tj ET Q q 0 0 0 rg BT 368.36 360.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 398.90 360.10 Td (on ) Tj ET Q q 0 0 0 rg BT 413.07 360.10 Td (January ) Tj ET Q q 0 0 0 rg BT 448.34 360.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 460.00 360.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 484.17 360.10 Td (using ) Tj ET Q q 0 0 0 rg BT 510.01 360.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.40 360.10 Td (modified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 348.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 104.61 348.10 Td (transition ) Tj ET Q q 0 0 0 rg BT 145.86 348.10 Td (method, ) Tj ET Q q 0 0 0 rg BT 181.82 348.10 Td (which ) Tj ET Q q 0 0 0 rg BT 209.73 348.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 246.53 348.10 Td (a ) Tj ET Q q 0 0 0 rg BT 254.44 348.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 302.33 348.10 Td (catch-up ) Tj ET Q q 0 0 0 rg BT 340.23 348.10 Td (in ) Tj ET Q q 0 0 0 rg BT 351.48 348.10 Td (retained ) Tj ET Q q 0 0 0 rg BT 387.15 348.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 424.50 348.10 Td (on ) Tj ET Q q 0 0 0 rg BT 437.97 348.10 Td (the ) Tj ET Q q 0 0 0 rg BT 453.66 348.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 480.46 348.10 Td (date ) Tj ET Q q 0 0 0 rg BT 500.58 348.10 Td (of ) Tj ET Q q 0 0 0 rg BT 512.38 348.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 550.85 348.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 336.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 84.29 336.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 123.51 336.10 Td (\(those ) Tj ET Q q 0 0 0 rg BT 151.08 336.10 Td (that ) Tj ET Q q 0 0 0 rg BT 169.20 336.10 Td (are ) Tj ET Q q 0 0 0 rg BT 184.54 336.10 Td (not ) Tj ET Q q 0 0 0 rg BT 200.44 336.10 Td (completed\) ) Tj ET Q q 0 0 0 rg BT 248.55 336.10 Td (as ) Tj ET Q q 0 0 0 rg BT 260.01 336.10 Td (of, ) Tj ET Q q 0 0 0 rg BT 273.97 336.10 Td (and ) Tj ET Q q 0 0 0 rg BT 291.53 336.10 Td (new ) Tj ET Q q 0 0 0 rg BT 311.32 336.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 350.54 336.10 Td (after) Tj ET Q q 0 0 0 rg BT 368.46 336.10 Td (, ) Tj ET Q q 0 0 0 rg BT 374.08 336.10 Td (January ) Tj ET Q q 0 0 0 rg BT 408.31 336.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 418.94 336.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 444.56 336.10 Td ( ) Tj ET Q q 0 0 0 rg BT 447.46 336.10 Td (The ) Tj ET Q q 0 0 0 rg BT 466.14 336.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 504.26 336.10 Td (did ) Tj ET Q q 0 0 0 rg BT 520.17 336.10 Td (not ) Tj ET Q q 0 0 0 rg BT 536.07 336.10 Td (have ) Tj ET Q q 0 0 0 rg BT 558.08 336.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 324.10 Td (material ) Tj ET Q q 0 0 0 rg BT 85.58 324.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 116.11 324.10 Td (on ) Tj ET Q q 0 0 0 rg BT 129.44 324.10 Td (our ) Tj ET Q q 0 0 0 rg BT 146.09 324.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 199.95 324.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 238.25 324.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 286.29 324.10 Td ( ) Tj ET Q q 0 0 0 rg BT 289.37 324.10 Td (The ) Tj ET Q q 0 0 0 rg BT 308.24 324.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 341.55 324.10 Td (and ) Tj ET Q q 0 0 0 rg BT 359.31 324.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 388.75 324.10 Td (of ) Tj ET Q q 0 0 0 rg BT 400.40 324.10 Td (our ) Tj ET Q q 0 0 0 rg BT 417.05 324.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 452.05 324.10 Td (and ) Tj ET Q q 0 0 0 rg BT 469.81 324.10 Td (land ) Tj ET Q q 0 0 0 rg BT 490.34 324.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 525.31 324.10 Td (remained ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 312.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 101.93 312.10 Td (unchanged, ) Tj ET Q q 0 0 0 rg BT 149.62 312.10 Td (and ) Tj ET Q q 0 0 0 rg BT 165.93 312.10 Td (we ) Tj ET Q q 0 0 0 rg BT 179.47 312.10 Td (did ) Tj ET Q q 0 0 0 rg BT 194.12 312.10 Td (not ) Tj ET Q q 0 0 0 rg BT 208.77 312.10 Td (have ) Tj ET Q q 0 0 0 rg BT 229.52 312.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 273.61 312.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 307.69 312.10 Td (to ) Tj ET Q q 0 0 0 rg BT 317.35 312.10 Td (our ) Tj ET Q q 0 0 0 rg BT 332.55 312.10 Td (business ) Tj ET Q q 0 0 0 rg BT 368.32 312.10 Td (processes, ) Tj ET Q q 0 0 0 rg BT 411.01 312.10 Td (systems, ) Tj ET Q q 0 0 0 rg BT 447.06 312.10 Td (or ) Tj ET Q q 0 0 0 rg BT 457.26 312.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 489.68 312.10 Td (controls ) Tj ET Q q 0 0 0 rg BT 523.77 312.10 Td (as ) Tj ET Q q 0 0 0 rg BT 533.98 312.10 Td (a ) Tj ET Q q 0 0 0 rg BT 540.29 312.10 Td (result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 300.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.53 300.10 Td (adopting ) Tj ET Q q 0 0 0 rg BT 98.22 300.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.14 300.10 Td (standard. ) Tj ET Q q 0 0 0 rg BT 152.21 300.10 Td ( ) Tj ET Q q 0 0 0 rg BT 154.71 300.10 Td (The ) Tj ET Q q 0 0 0 rg BT 172.96 300.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 214.54 300.10 Td (has ) Tj ET Q q 0 0 0 rg BT 230.57 300.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 274.36 300.10 Td (the ) Tj ET Q q 0 0 0 rg BT 289.28 300.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 331.96 300.10 Td (expanded ) Tj ET Q q 0 0 0 rg BT 372.98 300.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 420.11 300.10 Td (required ) Tj ET Q q 0 0 0 rg BT 456.13 300.10 Td (\(please ) Tj ET Q q 0 0 0 rg BT 487.14 300.10 Td (see ) Tj ET Q q 0 0 0 rg BT 502.61 300.10 Td (our ) Tj ET Q q 0 0 0 rg BT 518.63 300.10 Td (Significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 288.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 98.11 288.10 Td (Policies ) Tj ET Q q 0 0 0 rg BT 131.73 288.10 Td (section ) Tj ET Q q 0 0 0 rg BT 162.01 288.10 Td (above\); ) Tj ET Q q 0 0 0 rg BT 193.95 288.10 Td (however) Tj ET Q q 0 0 0 rg BT 227.98 288.10 Td (, ) Tj ET Q q 0 0 0 rg BT 232.44 288.10 Td (the ) Tj ET Q q 0 0 0 rg BT 246.61 288.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 283.56 288.10 Td (did ) Tj ET Q q 0 0 0 rg BT 298.29 288.10 Td (not ) Tj ET Q q 0 0 0 rg BT 313.03 288.10 Td (have ) Tj ET Q q 0 0 0 rg BT 333.86 288.10 Td (a ) Tj ET Q q 0 0 0 rg BT 340.25 288.10 Td (material ) Tj ET Q q 0 0 0 rg BT 374.97 288.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 404.14 288.10 Td (on ) Tj ET Q q 0 0 0 rg BT 416.09 288.10 Td (its ) Tj ET Q q 0 0 0 rg BT 427.50 288.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 479.99 288.10 Td (results ) Tj ET Q q 0 0 0 rg BT 508.06 288.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.34 288.10 Td (operations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 276.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.98 276.10 Td (position ) Tj ET Q q 0 0 0 rg BT 121.71 276.10 Td (and ) Tj ET Q q 0 0 0 rg BT 138.65 276.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 158.91 276.10 Td (flows.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 254.10 Td (In ) Tj ET Q q 0 0 0 rg BT 59.65 254.10 Td (February ) Tj ET Q q 0 0 0 rg BT 97.56 254.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 121.88 254.10 Td (the ) Tj ET Q q 0 0 0 rg BT 135.91 254.10 Td (F) Tj ET Q q 0 0 0 rg BT 140.73 254.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 162.00 254.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 188.41 254.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 210.23 254.10 Td (2017-05, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 247.88 254.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 273.02 254.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 304.27 254.10 Td (- ) Tj ET Q q 0 0 0 rg BT 309.41 254.10 Td (Gains ) Tj ET Q q 0 0 0 rg BT 335.12 254.10 Td (and ) Tj ET Q q 0 0 0 rg BT 351.93 254.10 Td (Losses ) Tj ET Q q 0 0 0 rg BT 380.42 254.10 Td (fr) Tj ET Q q 0 0 0 rg BT 386.72 254.10 Td (om ) Tj ET Q q 0 0 0 rg BT 400.76 254.10 Td (the ) Tj ET Q q 0 0 0 rg BT 414.79 254.10 Td (Der) Tj ET Q q 0 0 0 rg BT 429.97 254.10 Td (ecognition ) Tj ET Q q 0 0 0 rg BT 474.00 254.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.59 254.10 Td (Nonfinancial ) Tj ET Q q 0 0 0 rg BT 537.50 254.10 Td (Assets ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 242.10 Td (\(Subtopic ) Tj ET Q q 0 0 0 rg BT 89.77 242.10 Td (610-20\): ) Tj ET Q q 0 0 0 rg BT 126.70 242.10 Td (Clarifying ) Tj ET Q q 0 0 0 rg BT 169.76 242.10 Td (the ) Tj ET Q q 0 0 0 rg BT 183.92 242.10 Td (Scope ) Tj ET Q q 0 0 0 rg BT 209.74 242.10 Td (of ) Tj ET Q q 0 0 0 rg BT 219.32 242.10 Td (Asset ) Tj ET Q q 0 0 0 rg BT 242.37 242.10 Td (Der) Tj ET Q q 0 0 0 rg BT 257.55 242.10 Td (ecognition ) Tj ET Q q 0 0 0 rg BT 301.71 242.10 Td (Guidance ) Tj ET Q q 0 0 0 rg BT 342.53 242.10 Td (and ) Tj ET Q q 0 0 0 rg BT 359.33 242.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 406.82 242.10 Td (for ) Tj ET Q q 0 0 0 rg BT 420.43 242.10 Td (Partial ) Tj ET Q q 0 0 0 rg BT 450.71 242.10 Td (Sales ) Tj ET Q q 0 0 0 rg BT 473.76 242.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.48 242.10 Td (Nonfinancial ) Tj ET Q q 0 0 0 rg BT 537.51 242.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 230.10 Td (\(ASU ) Tj ET Q q 0 0 0 rg BT 79.58 230.10 Td (2017-05\). ) Tj ET Q q 0 0 0 rg BT 125.48 230.10 Td ( ) Tj ET Q q 0 0 0 rg BT 127.28 230.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 149.59 230.10 Td (2017-05 ) Tj ET Q q 0 0 0 rg BT 185.23 230.10 Td (is ) Tj ET Q q 0 0 0 rg BT 194.20 230.10 Td (intended ) Tj ET Q q 0 0 0 rg BT 230.94 230.10 Td (to ) Tj ET Q q 0 0 0 rg BT 241.03 230.10 Td (clarify ) Tj ET Q q 0 0 0 rg BT 269.43 230.10 Td (the ) Tj ET Q q 0 0 0 rg BT 283.95 230.10 Td (scope ) Tj ET Q q 0 0 0 rg BT 309.03 230.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.66 230.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.19 230.10 Td (original ) Tj ET Q q 0 0 0 rg BT 367.60 230.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 406.00 230.10 Td (within ) Tj ET Q q 0 0 0 rg BT 433.86 230.10 Td (Subtopic ) Tj ET Q q 0 0 0 rg BT 471.72 230.10 Td (610-20 ) Tj ET Q q 0 0 0 rg BT 502.36 230.10 Td (that ) Tj ET Q q 0 0 0 rg BT 519.66 230.10 Td (was ) Tj ET Q q 0 0 0 rg BT 537.52 230.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 218.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.50 218.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 107.58 218.10 Td (with ) Tj ET Q q 0 0 0 rg BT 127.87 218.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 151.09 218.10 Td (2014-09, ) Tj ET Q q 0 0 0 rg BT 190.14 218.10 Td (which ) Tj ET Q q 0 0 0 rg BT 217.79 218.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 255.45 218.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 294.76 218.10 Td (for ) Tj ET Q q 0 0 0 rg BT 309.64 218.10 Td (recognizing ) Tj ET Q q 0 0 0 rg BT 360.05 218.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 384.38 218.10 Td (and ) Tj ET Q q 0 0 0 rg BT 402.04 218.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 429.14 218.10 Td (from ) Tj ET Q q 0 0 0 rg BT 451.80 218.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.23 218.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 500.99 218.10 Td (of ) Tj ET Q q 0 0 0 rg BT 512.53 218.10 Td (nonfinancial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 206.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 75.57 206.10 Td (in ) Tj ET Q q 0 0 0 rg BT 86.09 206.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 124.92 206.10 Td (with ) Tj ET Q q 0 0 0 rg BT 145.44 206.10 Td (noncustomers. ) Tj ET Q q 0 0 0 rg BT 206.23 206.10 Td ( ) Tj ET Q q 0 0 0 rg BT 208.37 206.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 231.11 206.10 Td (2017-05 ) Tj ET Q q 0 0 0 rg BT 267.18 206.10 Td (additionally ) Tj ET Q q 0 0 0 rg BT 317.69 206.10 Td (added ) Tj ET Q q 0 0 0 rg BT 344.31 206.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 383.14 206.10 Td (for ) Tj ET Q q 0 0 0 rg BT 397.55 206.10 Td (partial ) Tj ET Q q 0 0 0 rg BT 425.83 206.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 448.01 206.10 Td (of ) Tj ET Q q 0 0 0 rg BT 459.08 206.10 Td (nonfinancial ) Tj ET Q q 0 0 0 rg BT 511.80 206.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 540.37 206.10 Td ( ) Tj ET Q q 0 0 0 rg BT 542.51 206.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 194.10 Td (2017-05 ) Tj ET Q q 0 0 0 rg BT 85.45 194.10 Td (is ) Tj ET Q q 0 0 0 rg BT 94.74 194.10 Td (ef) Tj ET Q q 0 0 0 rg BT 102.33 194.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 132.15 194.10 Td (for ) Tj ET Q q 0 0 0 rg BT 146.43 194.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 170.71 194.10 Td (years ) Tj ET Q q 0 0 0 rg BT 194.43 194.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 237.05 194.10 Td (after ) Tj ET Q q 0 0 0 rg BT 257.98 194.10 Td (December ) Tj ET Q q 0 0 0 rg BT 301.69 194.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 316.81 194.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 341.93 194.10 Td (and ) Tj ET Q q 0 0 0 rg BT 358.99 194.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 390.49 194.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 422.55 194.10 Td (within ) Tj ET Q q 0 0 0 rg BT 450.73 194.10 Td (those ) Tj ET Q q 0 0 0 rg BT 474.46 194.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 498.74 194.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 524.96 194.10 Td ( ) Tj ET Q q 0 0 0 rg BT 527.39 194.10 Td (W) Tj ET Q q 0 0 0 rg BT 536.03 194.10 Td (e ) Tj ET Q q 0 0 0 rg BT 543.08 194.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 182.10 Td (required ) Tj ET Q q 0 0 0 rg BT 85.94 182.10 Td (to ) Tj ET Q q 0 0 0 rg BT 96.85 182.10 Td (adopt ) Tj ET Q q 0 0 0 rg BT 121.50 182.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 144.63 182.10 Td (2017-05 ) Tj ET Q q 0 0 0 rg BT 181.09 182.10 Td (concurrent ) Tj ET Q q 0 0 0 rg BT 226.97 182.10 Td (with ) Tj ET Q q 0 0 0 rg BT 247.88 182.10 Td (the ) Tj ET Q q 0 0 0 rg BT 263.22 182.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 301.35 182.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.11 182.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 335.25 182.10 Td (2014-09. ) Tj ET Q q 0 0 0 rg BT 374.20 182.10 Td ( ) Tj ET Q q 0 0 0 rg BT 377.10 182.10 Td (The ) Tj ET Q q 0 0 0 rg BT 395.78 182.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 433.90 182.10 Td (of ) Tj ET Q q 0 0 0 rg BT 444.67 182.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 467.80 182.10 Td (2017-05 ) Tj ET Q q 0 0 0 rg BT 504.26 182.10 Td (did ) Tj ET Q q 0 0 0 rg BT 520.16 182.10 Td (not ) Tj ET Q q 0 0 0 rg BT 536.07 182.10 Td (have ) Tj ET Q q 0 0 0 rg BT 558.07 182.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 170.10 Td (material ) Tj ET Q q 0 0 0 rg BT 84.76 170.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 114.47 170.10 Td (on ) Tj ET Q q 0 0 0 rg BT 126.97 170.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.69 170.10 Td (Company) Tj ET Q q 0 0 0 rg BT 183.35 170.10 Td (s ) Tj ET Q q 0 0 0 rg BT 189.74 170.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 242.79 170.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 280.27 170.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 324.98 170.10 Td (and ) Tj ET Q q 0 0 0 rg BT 341.92 170.10 Td (disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 146.10 Td (In ) Tj ET Q q 0 0 0 rg BT 59.98 146.10 Td (August ) Tj ET Q q 0 0 0 rg BT 91.64 146.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 116.91 146.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.89 146.10 Td (F) Tj ET Q q 0 0 0 rg BT 136.71 146.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 158.93 146.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 186.08 146.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 208.85 146.10 Td (2016-15, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 247.45 146.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 289.65 146.10 Td (of ) Tj ET Q q 0 0 0 rg BT 300.19 146.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 323.52 146.10 Td (Flows ) Tj ET Q q 0 0 0 rg BT 350.73 146.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 358.70 146.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 378.68 146.10 Td (230\): ) Tj ET Q q 0 0 0 rg BT 403.11 146.10 Td (Classification ) Tj ET Q q 0 0 0 rg BT 461.44 146.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.98 146.10 Td (Certain ) Tj ET Q q 0 0 0 rg BT 505.30 146.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 528.63 146.10 Td (Receipts ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 134.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.14 134.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 90.33 134.10 Td (Payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.21 134.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.85 134.10 Td (\(ASU ) Tj ET Q q 0 0 0 rg BT 162.26 134.10 Td (2016-15\). ) Tj ET Q q 0 0 0 rg BT 208.49 134.10 Td ( ) Tj ET Q q 0 0 0 rg BT 210.55 134.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 233.19 134.10 Td (2016-15 ) Tj ET Q q 0 0 0 rg BT 269.16 134.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 306.23 134.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 344.96 134.10 Td (on ) Tj ET Q q 0 0 0 rg BT 357.60 134.10 Td (how ) Tj ET Q q 0 0 0 rg BT 377.46 134.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 407.30 134.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 427.70 134.10 Td (receipts ) Tj ET Q q 0 0 0 rg BT 461.43 134.10 Td (and ) Tj ET Q q 0 0 0 rg BT 478.51 134.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 498.91 134.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 539.88 134.10 Td (are ) Tj ET Q q 0 0 0 rg BT 554.72 134.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 122.10 Td (be ) Tj ET Q q 0 0 0 rg BT 61.08 122.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 101.53 122.10 Td (and ) Tj ET Q q 0 0 0 rg BT 118.11 122.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 158.01 122.10 Td (in ) Tj ET Q q 0 0 0 rg BT 167.93 122.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.28 122.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 222.74 122.10 Td (of ) Tj ET Q q 0 0 0 rg BT 233.21 122.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 253.12 122.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 279.98 122.10 Td ( ) Tj ET Q q 0 0 0 rg BT 282.12 122.10 Td (For ) Tj ET Q q 0 0 0 rg BT 298.15 122.10 Td (public ) Tj ET Q q 0 0 0 rg BT 325.28 122.10 Td (entities, ) Tj ET Q q 0 0 0 rg BT 358.33 122.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 380.47 122.10 Td (2016-15 ) Tj ET Q q 0 0 0 rg BT 415.94 122.10 Td (is ) Tj ET Q q 0 0 0 rg BT 424.75 122.10 Td (ef) Tj ET Q q 0 0 0 rg BT 432.34 122.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 461.68 122.10 Td (for ) Tj ET Q q 0 0 0 rg BT 475.48 122.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 499.27 122.10 Td (years ) Tj ET Q q 0 0 0 rg BT 522.51 122.10 Td (beginning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 110.10 Td (after ) Tj ET Q q 0 0 0 rg BT 69.63 110.10 Td (December ) Tj ET Q q 0 0 0 rg BT 112.53 110.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 126.85 110.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 151.16 110.10 Td (and ) Tj ET Q q 0 0 0 rg BT 167.42 110.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 198.11 110.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 229.37 110.10 Td (within ) Tj ET Q q 0 0 0 rg BT 256.74 110.10 Td (those ) Tj ET Q q 0 0 0 rg BT 279.66 110.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 303.13 110.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 328.55 110.10 Td ( ) Tj ET Q q 0 0 0 rg BT 330.36 110.10 Td (Early ) Tj ET Q q 0 0 0 rg BT 353.83 110.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 390.64 110.10 Td (is ) Tj ET Q q 0 0 0 rg BT 399.13 110.10 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 441.76 110.10 Td ( ) Tj ET Q q 0 0 0 rg BT 443.45 110.10 Td (The ) Tj ET Q q 0 0 0 rg BT 460.81 110.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 497.62 110.10 Td (of ) Tj ET Q q 0 0 0 rg BT 507.37 110.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 529.19 110.10 Td (2016-15 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 98.10 Td (did ) Tj ET Q q 0 0 0 rg BT 65.22 98.10 Td (not ) Tj ET Q q 0 0 0 rg BT 80.94 98.10 Td (modify ) Tj ET Q q 0 0 0 rg BT 112.77 98.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.93 98.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 175.46 98.10 Td (current ) Tj ET Q q 0 0 0 rg BT 206.72 98.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 254.10 98.10 Td (within ) Tj ET Q q 0 0 0 rg BT 282.60 98.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.76 98.10 Td (condensed ) Tj ET Q q 0 0 0 rg BT 342.91 98.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 396.39 98.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 437.66 98.10 Td (of ) Tj ET Q q 0 0 0 rg BT 448.93 98.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 469.64 98.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 494.81 98.10 Td (and ) Tj ET Q q 0 0 0 rg BT 512.19 98.10 Td (did ) Tj ET Q q 0 0 0 rg BT 527.91 98.10 Td (not ) Tj ET Q q 0 0 0 rg BT 543.63 98.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 86.10 Td (any ) Tj ET Q q 0 0 0 rg BT 66.44 86.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 96.15 86.10 Td (on ) Tj ET Q q 0 0 0 rg BT 108.65 86.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.37 86.10 Td (Company) Tj ET Q q 0 0 0 rg BT 165.03 86.10 Td (s ) Tj ET Q q 0 0 0 rg BT 171.42 86.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 224.47 86.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 261.95 86.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 306.66 86.10 Td (and ) Tj ET Q q 0 0 0 rg BT 323.60 86.10 Td (disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 64.10 Td (In ) Tj ET Q q 0 0 0 rg BT 61.06 64.10 Td (January ) Tj ET Q q 0 0 0 rg BT 95.38 64.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 121.10 64.10 Td (the ) Tj ET Q q 0 0 0 rg BT 136.55 64.10 Td (F) Tj ET Q q 0 0 0 rg BT 141.37 64.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 164.04 64.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 191.56 64.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 214.79 64.10 Td (2017-01, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 253.84 64.10 Td (Business ) Tj ET Q q 0 0 0 rg BT 292.07 64.10 Td (Combinations ) Tj ET Q q 0 0 0 rg BT 351.41 64.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 359.38 64.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 379.83 64.10 Td (805\): ) Tj ET Q q 0 0 0 rg BT 404.71 64.10 Td (Clarifying ) Tj ET Q q 0 0 0 rg BT 449.05 64.10 Td (the ) Tj ET Q q 0 0 0 rg BT 464.49 64.10 Td (Definition ) Tj ET Q q 0 0 0 rg BT 508.27 64.10 Td (of ) Tj ET Q q 0 0 0 rg BT 519.27 64.10 Td (a ) Tj ET Q q 0 0 0 rg BT 527.50 64.10 Td (Business) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.50 64.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 52.10 Td (\(ASU ) Tj ET Q q 0 0 0 rg BT 80.54 52.10 Td (2017-01\), ) Tj ET Q q 0 0 0 rg BT 127.41 52.10 Td (which ) Tj ET Q q 0 0 0 rg BT 155.12 52.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 192.83 52.10 Td (a ) Tj ET Q q 0 0 0 rg BT 200.54 52.10 Td (more ) Tj ET Q q 0 0 0 rg BT 224.36 52.10 Td (robust ) Tj ET Q q 0 0 0 rg BT 252.63 52.10 Td (framework ) Tj ET Q q 0 0 0 rg BT 299.77 52.10 Td (for ) Tj ET Q q 0 0 0 rg BT 314.70 52.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 366.29 52.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 401.76 52.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 452.80 52.10 Td (should ) Tj ET Q q 0 0 0 rg BT 482.74 52.10 Td (be ) Tj ET Q q 0 0 0 rg BT 495.45 52.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 539.25 52.10 Td (for ) Tj ET Q q 0 0 0 rg BT 554.18 52.10 Td (as ) Tj ET Q endstream endobj 21 0 obj <><>] /Rotate 0 /Contents 22 0 R>> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 99.09 740.10 Td (\(or ) Tj ET Q q 0 0 0 rg BT 112.57 740.10 Td (dispositions\) ) Tj ET Q q 0 0 0 rg BT 165.51 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 175.65 740.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 200.80 740.10 Td (or ) Tj ET Q q 0 0 0 rg BT 210.95 740.10 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 257.49 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 258.91 740.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 280.73 740.10 Td (2017-01 ) Tj ET Q q 0 0 0 rg BT 315.88 740.10 Td (is ) Tj ET Q q 0 0 0 rg BT 324.36 740.10 Td (ef) Tj ET Q q 0 0 0 rg BT 331.95 740.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 360.97 740.10 Td (for ) Tj ET Q q 0 0 0 rg BT 374.45 740.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 397.92 740.10 Td (years ) Tj ET Q q 0 0 0 rg BT 420.84 740.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 462.65 740.10 Td (after ) Tj ET Q q 0 0 0 rg BT 482.79 740.10 Td (December ) Tj ET Q q 0 0 0 rg BT 525.69 740.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 540.01 740.10 Td (2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.15 728.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 99.23 728.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 131.88 728.10 Td (within ) Tj ET Q q 0 0 0 rg BT 160.64 728.10 Td (those ) Tj ET Q q 0 0 0 rg BT 184.96 728.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 209.82 728.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 236.63 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 239.60 728.10 Td (The ) Tj ET Q q 0 0 0 rg BT 258.36 728.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 300.45 728.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 335.31 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.74 728.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 387.82 728.10 Td (on ) Tj ET Q q 0 0 0 rg BT 401.03 728.10 Td (January ) Tj ET Q q 0 0 0 rg BT 435.33 728.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 446.04 728.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 471.75 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 474.72 728.10 Td (The ) Tj ET Q q 0 0 0 rg BT 493.48 728.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 531.68 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 542.51 728.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (2017-01 ) Tj ET Q q 0 0 0 rg BT 84.84 716.10 Td (did ) Tj ET Q q 0 0 0 rg BT 99.63 716.10 Td (not ) Tj ET Q q 0 0 0 rg BT 114.43 716.10 Td (have ) Tj ET Q q 0 0 0 rg BT 135.32 716.10 Td (an ) Tj ET Q q 0 0 0 rg BT 146.77 716.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 175.99 716.10 Td (on ) Tj ET Q q 0 0 0 rg BT 188.01 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 202.24 716.10 Td (Company) Tj ET Q q 0 0 0 rg BT 243.90 716.10 Td (s ) Tj ET Q q 0 0 0 rg BT 249.81 716.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 302.36 716.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 339.35 716.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 383.58 716.10 Td (and ) Tj ET Q q 0 0 0 rg BT 400.03 716.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 446.48 716.10 Td (as ) Tj ET Q q 0 0 0 rg BT 456.83 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 471.06 716.10 Td (Company) Tj ET Q q 0 0 0 rg BT 512.72 716.10 Td (s ) Tj ET Q q 0 0 0 rg BT 518.63 716.10 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (during ) Tj ET Q q 0 0 0 rg BT 78.11 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.83 704.10 Td (first ) Tj ET Q q 0 0 0 rg BT 111.43 704.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 142.25 704.10 Td (of ) Tj ET Q q 0 0 0 rg BT 153.08 704.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 175.58 704.10 Td (met ) Tj ET Q q 0 0 0 rg BT 193.07 704.10 Td (all ) Tj ET Q q 0 0 0 rg BT 205.57 704.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 260.27 704.10 Td (to ) Tj ET Q q 0 0 0 rg BT 270.55 704.10 Td (be ) Tj ET Q q 0 0 0 rg BT 282.49 704.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 325.52 704.10 Td (for ) Tj ET Q q 0 0 0 rg BT 339.68 704.10 Td (as ) Tj ET Q q 0 0 0 rg BT 350.51 704.10 Td (a ) Tj ET Q q 0 0 0 rg BT 357.45 704.10 Td (business ) Tj ET Q q 0 0 0 rg BT 393.84 704.10 Td (acquisition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.07 680.10 Td (January ) Tj ET Q q 0 0 0 rg BT 93.40 680.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 118.14 680.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.59 680.10 Td (F) Tj ET Q q 0 0 0 rg BT 137.41 680.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 159.10 680.10 Td (issued) Tj ET Q q 0 0 0 rg BT 186.05 680.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 208.29 680.10 Td (2017-04, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 246.36 680.10 Td (Simplifying ) Tj ET Q q 0 0 0 rg BT 294.14 680.10 Td (the ) Tj ET Q q 0 0 0 rg BT 308.60 680.10 Td (T) Tj ET Q q 0 0 0 rg BT 313.24 680.10 Td (est ) Tj ET Q q 0 0 0 rg BT 326.58 680.10 Td (for ) Tj ET Q q 0 0 0 rg BT 340.49 680.10 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 379.95 680.10 Td (Impairment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.61 680.10 Td (, ) Tj ET Q q 0 0 0 rg BT 431.35 680.10 Td (which ) Tj ET Q q 0 0 0 rg BT 458.03 680.10 Td (eliminates ) Tj ET Q q 0 0 0 rg BT 501.36 680.10 Td (Step ) Tj ET Q q 0 0 0 rg BT 521.38 680.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 528.61 680.10 Td (from ) Tj ET Q q 0 0 0 rg BT 550.29 680.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 87.36 668.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 135.76 668.10 Td (test ) Tj ET Q q 0 0 0 rg BT 151.95 668.10 Td (in ) Tj ET Q q 0 0 0 rg BT 162.04 668.10 Td (order ) Tj ET Q q 0 0 0 rg BT 185.44 668.10 Td (to ) Tj ET Q q 0 0 0 rg BT 195.52 668.10 Td (simplify ) Tj ET Q q 0 0 0 rg BT 231.16 668.10 Td (the ) Tj ET Q q 0 0 0 rg BT 245.68 668.10 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 292.42 668.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 348.04 668.10 Td (of ) Tj ET Q q 0 0 0 rg BT 358.67 668.10 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 399.03 668.10 Td ( ) Tj ET Q q 0 0 0 rg BT 401.17 668.10 Td (The ) Tj ET Q q 0 0 0 rg BT 419.02 668.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 457.41 668.10 Td (is ) Tj ET Q q 0 0 0 rg BT 466.39 668.10 Td (ef) Tj ET Q q 0 0 0 rg BT 473.98 668.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 503.48 668.10 Td (for ) Tj ET Q q 0 0 0 rg BT 517.45 668.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 541.40 668.10 Td (years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 91.77 656.10 Td (after ) Tj ET Q q 0 0 0 rg BT 112.36 656.10 Td (December ) Tj ET Q q 0 0 0 rg BT 155.72 656.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 170.49 656.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 195.27 656.10 Td ( ) Tj ET Q q 0 0 0 rg BT 197.54 656.10 Td (Early ) Tj ET Q q 0 0 0 rg BT 221.47 656.10 Td (application ) Tj ET Q q 0 0 0 rg BT 268.17 656.10 Td (is ) Tj ET Q q 0 0 0 rg BT 277.12 656.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 317.71 656.10 Td (for ) Tj ET Q q 0 0 0 rg BT 331.65 656.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 362.80 656.10 Td (or ) Tj ET Q q 0 0 0 rg BT 373.41 656.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 402.34 656.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 440.17 656.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 488.54 656.10 Td (tests ) Tj ET Q q 0 0 0 rg BT 508.59 656.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 552.51 656.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (testing ) Tj ET Q q 0 0 0 rg BT 78.85 644.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 102.08 644.10 Td (after ) Tj ET Q q 0 0 0 rg BT 123.08 644.10 Td (January ) Tj ET Q q 0 0 0 rg BT 156.87 644.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 167.05 644.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 192.24 644.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.73 644.10 Td (The ) Tj ET Q q 0 0 0 rg BT 212.96 644.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 254.54 644.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 288.88 644.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.78 644.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 340.34 644.10 Td (on ) Tj ET Q q 0 0 0 rg BT 353.03 644.10 Td (January ) Tj ET Q q 0 0 0 rg BT 386.81 644.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 397.00 644.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 422.18 644.10 Td ( ) Tj ET Q q 0 0 0 rg BT 424.67 644.10 Td (The ) Tj ET Q q 0 0 0 rg BT 442.91 644.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 480.59 644.10 Td (of ) Tj ET Q q 0 0 0 rg BT 491.01 644.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 513.70 644.10 Td (2017-04 ) Tj ET Q q 0 0 0 rg BT 549.72 644.10 Td (did ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (not ) Tj ET Q q 0 0 0 rg BT 65.44 632.10 Td (have ) Tj ET Q q 0 0 0 rg BT 87.49 632.10 Td (an ) Tj ET Q q 0 0 0 rg BT 100.09 632.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 130.47 632.10 Td (on ) Tj ET Q q 0 0 0 rg BT 143.64 632.10 Td (the ) Tj ET Q q 0 0 0 rg BT 159.02 632.10 Td (Company) Tj ET Q q 0 0 0 rg BT 200.69 632.10 Td (s ) Tj ET Q q 0 0 0 rg BT 207.74 632.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 261.45 632.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 299.60 632.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 344.98 632.10 Td (and ) Tj ET Q q 0 0 0 rg BT 362.58 632.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 410.19 632.10 Td (as ) Tj ET Q q 0 0 0 rg BT 421.69 632.10 Td (it ) Tj ET Q q 0 0 0 rg BT 430.41 632.10 Td (will ) Tj ET Q q 0 0 0 rg BT 449.13 632.10 Td (perform ) Tj ET Q q 0 0 0 rg BT 484.50 632.10 Td (its ) Tj ET Q q 0 0 0 rg BT 497.12 632.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 526.94 632.10 Td (goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 98.10 620.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 132.82 620.10 Td (during ) Tj ET Q q 0 0 0 rg BT 161.42 620.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.14 620.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 203.08 620.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 233.89 620.10 Td (of ) Tj ET Q q 0 0 0 rg BT 244.72 620.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 267.22 620.10 Td (\(as ) Tj ET Q q 0 0 0 rg BT 281.38 620.10 Td (no ) Tj ET Q q 0 0 0 rg BT 293.88 620.10 Td (indicators ) Tj ET Q q 0 0 0 rg BT 335.82 620.10 Td (for ) Tj ET Q q 0 0 0 rg BT 349.98 620.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 398.58 620.10 Td (existed ) Tj ET Q q 0 0 0 rg BT 429.40 620.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.12 620.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 474.95 620.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.95 620.10 Td (\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 598.10 Td (Impact ) Tj ET Q q 0 0 0 rg BT 80.89 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 91.72 598.10 Td (New ) Tj ET Q q 0 0 0 rg BT 112.18 598.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 162.46 598.10 Td (Standards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 576.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.82 576.10 Td (February ) Tj ET Q q 0 0 0 rg BT 99.91 576.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 125.41 576.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.61 576.10 Td (F) Tj ET Q q 0 0 0 rg BT 145.43 576.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 167.88 576.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 195.21 576.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 218.21 576.10 Td (No. ) Tj ET Q q 0 0 0 rg BT 235.92 576.10 Td (2016-02, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 274.74 576.10 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.97 576.10 Td ( ) Tj ET Q q 0 0 0 rg BT 304.96 576.10 Td (\(ASU ) Tj ET Q q 0 0 0 rg BT 335.72 576.10 Td (2016-02\). ) Tj ET Q q 0 0 0 rg BT 381.65 576.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 404.65 576.10 Td (2016-02 ) Tj ET Q q 0 0 0 rg BT 440.97 576.10 Td (will ) Tj ET Q q 0 0 0 rg BT 459.52 576.10 Td (require ) Tj ET Q q 0 0 0 rg BT 490.83 576.10 Td (or) Tj ET Q q 0 0 0 rg BT 498.98 576.10 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 547.51 576.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 564.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 72.48 564.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 98.81 564.10 Td (- ) Tj ET Q q 0 0 0 rg BT 105.14 564.10 Td (referred ) Tj ET Q q 0 0 0 rg BT 139.77 564.10 Td (to ) Tj ET Q q 0 0 0 rg BT 150.55 564.10 Td (as ) Tj ET Q q 0 0 0 rg BT 161.88 564.10 Td (lessees ) Tj ET Q q 0 0 0 rg BT 201.52 564.10 Td (- ) Tj ET Q q 0 0 0 rg BT 207.85 564.10 Td (to ) Tj ET Q q 0 0 0 rg BT 218.63 564.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 260.49 564.10 Td (on ) Tj ET Q q 0 0 0 rg BT 273.48 564.10 Td (the ) Tj ET Q q 0 0 0 rg BT 288.70 564.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 322.23 564.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 345.77 564.10 Td (the ) Tj ET Q q 0 0 0 rg BT 360.99 564.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 387.32 564.10 Td (and ) Tj ET Q q 0 0 0 rg BT 404.75 564.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 444.97 564.10 Td (for ) Tj ET Q q 0 0 0 rg BT 459.63 564.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.84 564.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 500.62 564.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.05 564.10 Td (obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 552.10 Td (created ) Tj ET Q q 0 0 0 rg BT 80.29 552.10 Td (by ) Tj ET Q q 0 0 0 rg BT 92.22 552.10 Td (those ) Tj ET Q q 0 0 0 rg BT 115.26 552.10 Td (leases. ) Tj ET Q q 0 0 0 rg BT 143.57 552.10 Td ( ) Tj ET Q q 0 0 0 rg BT 145.50 552.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 172.00 552.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 193.93 552.10 Td (2016-02, ) Tj ET Q q 0 0 0 rg BT 231.70 552.10 Td (a ) Tj ET Q q 0 0 0 rg BT 238.07 552.10 Td (lessee ) Tj ET Q q 0 0 0 rg BT 263.87 552.10 Td (will ) Tj ET Q q 0 0 0 rg BT 281.36 552.10 Td (be ) Tj ET Q q 0 0 0 rg BT 292.73 552.10 Td (required ) Tj ET Q q 0 0 0 rg BT 327.98 552.10 Td (to ) Tj ET Q q 0 0 0 rg BT 337.69 552.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 378.48 552.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 403.74 552.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.11 552.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 459.26 552.10 Td (for ) Tj ET Q q 0 0 0 rg BT 472.85 552.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 498.66 552.10 Td (with ) Tj ET Q q 0 0 0 rg BT 518.37 552.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 540.28 552.10 Td (terms ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 540.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.73 540.10 Td (more ) Tj ET Q q 0 0 0 rg BT 84.17 540.10 Td (than ) Tj ET Q q 0 0 0 rg BT 104.28 540.10 Td (12 ) Tj ET Q q 0 0 0 rg BT 117.18 540.10 Td (months. ) Tj ET Q q 0 0 0 rg BT 152.03 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 154.92 540.10 Td (Lessor ) Tj ET Q q 0 0 0 rg BT 184.48 540.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 231.25 540.10 Td (remains ) Tj ET Q q 0 0 0 rg BT 265.80 540.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 319.25 540.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 349.92 540.10 Td (to ) Tj ET Q q 0 0 0 rg BT 360.60 540.10 Td (current ) Tj ET Q q 0 0 0 rg BT 391.81 540.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 417.93 540.10 Td (. ) Tj ET Q q 0 0 0 rg BT 423.32 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 426.22 540.10 Td (In ) Tj ET Q q 0 0 0 rg BT 437.45 540.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 475.62 540.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 522.95 540.10 Td (of ) Tj ET Q q 0 0 0 rg BT 534.18 540.10 Td (leasing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 528.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 87.10 528.10 Td (will ) Tj ET Q q 0 0 0 rg BT 104.16 528.10 Td (be ) Tj ET Q q 0 0 0 rg BT 115.10 528.10 Td (expanded ) Tj ET Q q 0 0 0 rg BT 154.91 528.10 Td (to ) Tj ET Q q 0 0 0 rg BT 164.19 528.10 Td (include ) Tj ET Q q 0 0 0 rg BT 195.12 528.10 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 238.83 528.10 Td (and ) Tj ET Q q 0 0 0 rg BT 254.77 528.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 287.36 528.10 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 336.07 528.10 Td (information. ) Tj ET Q q 0 0 0 rg BT 387.28 528.10 Td ( ) Tj ET Q q 0 0 0 rg BT 388.79 528.10 Td (For ) Tj ET Q q 0 0 0 rg BT 404.18 528.10 Td (public ) Tj ET Q q 0 0 0 rg BT 430.67 528.10 Td (entities, ) Tj ET Q q 0 0 0 rg BT 463.22 528.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 484.73 528.10 Td (2016-02 ) Tj ET Q q 0 0 0 rg BT 519.56 528.10 Td (is ) Tj ET Q q 0 0 0 rg BT 527.73 528.10 Td (ef) Tj ET Q q 0 0 0 rg BT 535.32 528.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 516.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.70 516.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 87.89 516.10 Td (years ) Tj ET Q q 0 0 0 rg BT 111.52 516.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 154.05 516.10 Td (after ) Tj ET Q q 0 0 0 rg BT 174.90 516.10 Td (December ) Tj ET Q q 0 0 0 rg BT 218.52 516.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 233.56 516.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 258.59 516.10 Td (including ) Tj ET Q q 0 0 0 rg BT 298.90 516.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 330.32 516.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 362.29 516.10 Td (within ) Tj ET Q q 0 0 0 rg BT 390.39 516.10 Td (those ) Tj ET Q q 0 0 0 rg BT 414.03 516.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 438.22 516.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 464.36 516.10 Td ( ) Tj ET Q q 0 0 0 rg BT 466.33 516.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 488.87 516.10 Td (2016-02 ) Tj ET Q q 0 0 0 rg BT 524.74 516.10 Td (mandates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 504.10 Td (a ) Tj ET Q q 0 0 0 rg BT 55.83 504.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 93.82 504.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 147.34 504.10 Td (transition ) Tj ET Q q 0 0 0 rg BT 187.00 504.10 Td (method. ) Tj ET Q q 0 0 0 rg BT 221.39 504.10 Td ( ) Tj ET Q q 0 0 0 rg BT 223.14 504.10 Td (The ) Tj ET Q q 0 0 0 rg BT 240.57 504.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 281.35 504.10 Td (continues ) Tj ET Q q 0 0 0 rg BT 321.56 504.10 Td (to ) Tj ET Q q 0 0 0 rg BT 331.22 504.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 366.42 504.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.53 504.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 417.40 504.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 446.50 504.10 Td (the ) Tj ET Q q 0 0 0 rg BT 460.61 504.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 497.49 504.10 Td (of ) Tj ET Q q 0 0 0 rg BT 507.29 504.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 529.18 504.10 Td (2016-02 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 492.10 Td (will ) Tj ET Q q 0 0 0 rg BT 67.97 492.10 Td (have ) Tj ET Q q 0 0 0 rg BT 89.77 492.10 Td (on ) Tj ET Q q 0 0 0 rg BT 102.68 492.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.82 492.10 Td (Company) Tj ET Q q 0 0 0 rg BT 159.48 492.10 Td (s ) Tj ET Q q 0 0 0 rg BT 166.29 492.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 219.75 492.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 257.65 492.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 302.77 492.10 Td (and ) Tj ET Q q 0 0 0 rg BT 320.13 492.10 Td (disclosures; ) Tj ET Q q 0 0 0 rg BT 370.26 492.10 Td (however) Tj ET Q q 0 0 0 rg BT 404.29 492.10 Td (, ) Tj ET Q q 0 0 0 rg BT 409.71 492.10 Td (because ) Tj ET Q q 0 0 0 rg BT 444.27 492.10 Td (a ) Tj ET Q q 0 0 0 rg BT 451.62 492.10 Td (lar) Tj ET Q q 0 0 0 rg BT 461.99 492.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 474.34 492.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 511.14 492.10 Td (of ) Tj ET Q q 0 0 0 rg BT 522.39 492.10 Td (our ) Tj ET Q q 0 0 0 rg BT 538.64 492.10 Td (leases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 480.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.10 480.10 Td (for ) Tj ET Q q 0 0 0 rg BT 78.15 480.10 Td (of) Tj ET Q q 0 0 0 rg BT 86.30 480.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 103.68 480.10 Td (space, ) Tj ET Q q 0 0 0 rg BT 130.78 480.10 Td (which ) Tj ET Q q 0 0 0 rg BT 157.61 480.10 Td (we ) Tj ET Q q 0 0 0 rg BT 171.66 480.10 Td (have ) Tj ET Q q 0 0 0 rg BT 192.93 480.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 240.30 480.10 Td (will ) Tj ET Q q 0 0 0 rg BT 258.25 480.10 Td (be ) Tj ET Q q 0 0 0 rg BT 270.08 480.10 Td (treated ) Tj ET Q q 0 0 0 rg BT 299.67 480.10 Td (as ) Tj ET Q q 0 0 0 rg BT 310.39 480.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 350.55 480.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 376.82 480.10 Td (under ) Tj ET Q q 0 0 0 rg BT 401.45 480.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 423.84 480.10 Td (2016-02, ) Tj ET Q q 0 0 0 rg BT 462.07 480.10 Td (we ) Tj ET Q q 0 0 0 rg BT 476.12 480.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 517.38 480.10 Td (recording ) Tj ET Q q 0 0 0 rg BT 558.08 480.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 468.10 Td (right-of-use ) Tj ET Q q 0 0 0 rg BT 99.21 468.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 121.15 468.10 Td (and ) Tj ET Q q 0 0 0 rg BT 138.08 468.10 Td (related ) Tj ET Q q 0 0 0 rg BT 167.79 468.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 190.27 468.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 223.88 468.10 Td (for ) Tj ET Q q 0 0 0 rg BT 238.04 468.10 Td (these ) Tj ET Q q 0 0 0 rg BT 261.09 468.10 Td (leases, ) Tj ET Q q 0 0 0 rg BT 289.96 468.10 Td (but ) Tj ET Q q 0 0 0 rg BT 305.24 468.10 Td (do ) Tj ET Q q 0 0 0 rg BT 317.74 468.10 Td (not ) Tj ET Q q 0 0 0 rg BT 333.02 468.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 361.61 468.10 Td (our ) Tj ET Q q 0 0 0 rg BT 377.44 468.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 412.15 468.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 460.19 468.10 Td (pattern ) Tj ET Q q 0 0 0 rg BT 490.46 468.10 Td (to ) Tj ET Q q 0 0 0 rg BT 500.74 468.10 Td (change.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 444.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.15 444.10 Td (March ) Tj ET Q q 0 0 0 rg BT 88.58 444.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 113.40 444.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.94 444.10 Td (F) Tj ET Q q 0 0 0 rg BT 132.76 444.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 154.54 444.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 181.35 444.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 203.68 444.10 Td (2017-08, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 241.83 444.10 Td (Receivables ) Tj ET Q q 0 0 0 rg BT 291.91 444.10 Td (- ) Tj ET Q q 0 0 0 rg BT 297.56 444.10 Td (Nonr) Tj ET Q q 0 0 0 rg BT 317.75 444.10 Td (efundable ) Tj ET Q q 0 0 0 rg BT 359.51 444.10 Td (Fees ) Tj ET Q q 0 0 0 rg BT 380.71 444.10 Td (and ) Tj ET Q q 0 0 0 rg BT 398.03 444.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 423.69 444.10 Td (Costs ) Tj ET Q q 0 0 0 rg BT 448.24 444.10 Td (\(Subtopic ) Tj ET Q q 0 0 0 rg BT 488.89 444.10 Td (310-20\): ) Tj ET Q q 0 0 0 rg BT 526.21 444.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 535.84 444.10 Td (emium ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 432.10 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 103.57 432.10 Td (on ) Tj ET Q q 0 0 0 rg BT 115.42 432.10 Td (Pur) Tj ET Q q 0 0 0 rg BT 130.04 432.10 Td (chased ) Tj ET Q q 0 0 0 rg BT 159.66 432.10 Td (Callable ) Tj ET Q q 0 0 0 rg BT 195.95 432.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 217.23 432.10 Td (Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.66 432.10 Td ( ) Tj ET Q q 0 0 0 rg BT 258.51 432.10 Td (\(ASU ) Tj ET Q q 0 0 0 rg BT 288.13 432.10 Td (2017-08\), ) Tj ET Q q 0 0 0 rg BT 333.57 432.10 Td (which ) Tj ET Q q 0 0 0 rg BT 359.85 432.10 Td (shortens ) Tj ET Q q 0 0 0 rg BT 395.03 432.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.09 432.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 461.47 432.10 Td (period ) Tj ET Q q 0 0 0 rg BT 488.86 432.10 Td (for ) Tj ET Q q 0 0 0 rg BT 502.37 432.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 531.41 432.10 Td (callable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 420.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 68.83 420.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 108.71 420.10 Td (held ) Tj ET Q q 0 0 0 rg BT 128.04 420.10 Td (at ) Tj ET Q q 0 0 0 rg BT 137.37 420.10 Td (a ) Tj ET Q q 0 0 0 rg BT 143.92 420.10 Td (premium. ) Tj ET Q q 0 0 0 rg BT 184.64 420.10 Td ( ) Tj ET Q q 0 0 0 rg BT 186.75 420.10 Td (Specifically) Tj ET Q q 0 0 0 rg BT 233.86 420.10 Td (, ) Tj ET Q q 0 0 0 rg BT 238.47 420.10 Td (the ) Tj ET Q q 0 0 0 rg BT 252.80 420.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 305.46 420.10 Td (require ) Tj ET Q q 0 0 0 rg BT 335.89 420.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.22 420.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 388.43 420.10 Td (to ) Tj ET Q q 0 0 0 rg BT 398.32 420.10 Td (be ) Tj ET Q q 0 0 0 rg BT 409.88 420.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 451.97 420.10 Td (to ) Tj ET Q q 0 0 0 rg BT 461.86 420.10 Td (the ) Tj ET Q q 0 0 0 rg BT 476.19 420.10 Td (earliest ) Tj ET Q q 0 0 0 rg BT 507.18 420.10 Td (call ) Tj ET Q q 0 0 0 rg BT 523.72 420.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 544.99 420.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.95 420.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 408.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 103.48 408.10 Td (do ) Tj ET Q q 0 0 0 rg BT 116.92 408.10 Td (not ) Tj ET Q q 0 0 0 rg BT 133.14 408.10 Td (require ) Tj ET Q q 0 0 0 rg BT 164.90 408.10 Td (an ) Tj ET Q q 0 0 0 rg BT 177.78 408.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 225.09 408.10 Td (change ) Tj ET Q q 0 0 0 rg BT 256.85 408.10 Td (for ) Tj ET Q q 0 0 0 rg BT 271.95 408.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 313.16 408.10 Td (held ) Tj ET Q q 0 0 0 rg BT 333.82 408.10 Td (at ) Tj ET Q q 0 0 0 rg BT 344.47 408.10 Td (a ) Tj ET Q q 0 0 0 rg BT 352.35 408.10 Td (discount; ) Tj ET Q q 0 0 0 rg BT 392.46 408.10 Td (the ) Tj ET Q q 0 0 0 rg BT 408.12 408.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 445.45 408.10 Td (continues ) Tj ET Q q 0 0 0 rg BT 487.21 408.10 Td (to ) Tj ET Q q 0 0 0 rg BT 498.43 408.10 Td (be ) Tj ET Q q 0 0 0 rg BT 511.31 408.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 554.74 408.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 396.10 Td (maturity) Tj ET Q q 0 0 0 rg BT 82.73 396.10 Td (. ) Tj ET Q q 0 0 0 rg BT 87.93 396.10 Td ( ) Tj ET Q q 0 0 0 rg BT 90.63 396.10 Td (For ) Tj ET Q q 0 0 0 rg BT 107.21 396.10 Td (public ) Tj ET Q q 0 0 0 rg BT 134.91 396.10 Td (entities, ) Tj ET Q q 0 0 0 rg BT 168.39 396.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 191.09 396.10 Td (2017-08 ) Tj ET Q q 0 0 0 rg BT 227.12 396.10 Td (is ) Tj ET Q q 0 0 0 rg BT 236.48 396.10 Td (ef) Tj ET Q q 0 0 0 rg BT 244.07 396.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 273.97 396.10 Td (for ) Tj ET Q q 0 0 0 rg BT 288.33 396.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 312.68 396.10 Td (years ) Tj ET Q q 0 0 0 rg BT 336.48 396.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 379.17 396.10 Td (after ) Tj ET Q q 0 0 0 rg BT 400.18 396.10 Td (December ) Tj ET Q q 0 0 0 rg BT 443.96 396.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 459.16 396.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 484.35 396.10 Td (and ) Tj ET Q q 0 0 0 rg BT 501.49 396.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 533.07 396.10 Td (periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 384.10 Td (within ) Tj ET Q q 0 0 0 rg BT 76.49 384.10 Td (those ) Tj ET Q q 0 0 0 rg BT 99.04 384.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 122.13 384.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 147.17 384.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.50 384.10 Td (The ) Tj ET Q q 0 0 0 rg BT 165.48 384.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 205.81 384.10 Td (does ) Tj ET Q q 0 0 0 rg BT 225.57 384.10 Td (not ) Tj ET Q q 0 0 0 rg BT 239.79 384.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 270.10 384.10 Td (the ) Tj ET Q q 0 0 0 rg BT 283.75 384.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 320.19 384.10 Td (of ) Tj ET Q q 0 0 0 rg BT 329.63 384.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 351.08 384.10 Td (2017-08 ) Tj ET Q q 0 0 0 rg BT 385.84 384.10 Td (will ) Tj ET Q q 0 0 0 rg BT 402.84 384.10 Td (have ) Tj ET Q q 0 0 0 rg BT 423.15 384.10 Td (a ) Tj ET Q q 0 0 0 rg BT 429.03 384.10 Td (material ) Tj ET Q q 0 0 0 rg BT 463.22 384.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 491.87 384.10 Td (on ) Tj ET Q q 0 0 0 rg BT 503.31 384.10 Td (the ) Tj ET Q q 0 0 0 rg BT 516.96 384.10 Td (Company) Tj ET Q q 0 0 0 rg BT 558.63 384.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 372.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 102.54 372.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 140.02 372.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 184.73 372.10 Td (and ) Tj ET Q q 0 0 0 rg BT 201.67 372.10 Td (disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 348.10 Td ( ) Tj ET Q q 0 0 0 rg BT 51.17 348.10 Td (In ) Tj ET Q q 0 0 0 rg BT 61.16 348.10 Td (January ) Tj ET Q q 0 0 0 rg BT 93.92 348.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 118.09 348.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.97 348.10 Td (F) Tj ET Q q 0 0 0 rg BT 136.79 348.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 157.91 348.10 Td (issued) Tj ET Q q 0 0 0 rg BT 184.86 348.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 206.53 348.10 Td (2018-01,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 244.86 348.10 Td (Land ) Tj ET Q q 0 0 0 rg BT 267.08 348.10 Td (Easement ) Tj ET Q q 0 0 0 rg BT 307.63 348.10 Td (Practical ) Tj ET Q q 0 0 0 rg BT 346.50 348.10 Td (Expedient ) Tj ET Q q 0 0 0 rg BT 388.15 348.10 Td (for ) Tj ET Q q 0 0 0 rg BT 401.48 348.10 Td (T) Tj ET Q q 0 0 0 rg BT 406.49 348.10 Td (ransition ) Tj ET Q q 0 0 0 rg BT 444.28 348.10 Td (to ) Tj ET Q q 0 0 0 rg BT 453.72 348.10 Td (T) Tj ET Q q 0 0 0 rg BT 458.36 348.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 477.24 348.10 Td (842) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.24 348.10 Td ( ) Tj ET Q q 0 0 0 rg BT 493.91 348.10 Td (\(ASU ) Tj ET Q q 0 0 0 rg BT 518.91 348.10 Td (2018-01\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 336.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.35 336.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 113.21 336.10 Td (an ) Tj ET Q q 0 0 0 rg BT 125.06 336.10 Td (optional ) Tj ET Q q 0 0 0 rg BT 160.25 336.10 Td (transition ) Tj ET Q q 0 0 0 rg BT 200.44 336.10 Td (practical ) Tj ET Q q 0 0 0 rg BT 237.28 336.10 Td (expedient ) Tj ET Q q 0 0 0 rg BT 278.57 336.10 Td (to ) Tj ET Q q 0 0 0 rg BT 288.76 336.10 Td (not ) Tj ET Q q 0 0 0 rg BT 303.95 336.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 339.68 336.10 Td (under ) Tj ET Q q 0 0 0 rg BT 364.69 336.10 Td (T) Tj ET Q q 0 0 0 rg BT 370.10 336.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 389.73 336.10 Td (842 ) Tj ET Q q 0 0 0 rg BT 407.15 336.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 441.23 336.10 Td (or ) Tj ET Q q 0 0 0 rg BT 451.98 336.10 Td (expired ) Tj ET Q q 0 0 0 rg BT 484.38 336.10 Td (land ) Tj ET Q q 0 0 0 rg BT 504.01 336.10 Td (easements ) Tj ET Q q 0 0 0 rg BT 547.52 336.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 324.10 Td (were ) Tj ET Q q 0 0 0 rg BT 72.24 324.10 Td (not ) Tj ET Q q 0 0 0 rg BT 88.33 324.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 133.86 324.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 177.70 324.10 Td (for ) Tj ET Q q 0 0 0 rg BT 192.68 324.10 Td (as ) Tj ET Q q 0 0 0 rg BT 204.32 324.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 231.51 324.10 Td (under ) Tj ET Q q 0 0 0 rg BT 257.59 324.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.12 324.10 Td (current ) Tj ET Q q 0 0 0 rg BT 304.74 324.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 328.04 324.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 367.45 324.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.30 324.10 Td (T) Tj ET Q q 0 0 0 rg BT 383.71 324.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 404.24 324.10 Td (840. ) Tj ET Q q 0 0 0 rg BT 424.32 324.10 Td (An ) Tj ET Q q 0 0 0 rg BT 439.85 324.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 465.94 324.10 Td (that ) Tj ET Q q 0 0 0 rg BT 484.24 324.10 Td (elects ) Tj ET Q q 0 0 0 rg BT 510.32 324.10 Td (this ) Tj ET Q q 0 0 0 rg BT 528.08 324.10 Td (practical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 312.10 Td (expedient ) Tj ET Q q 0 0 0 rg BT 91.38 312.10 Td (should ) Tj ET Q q 0 0 0 rg BT 121.06 312.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 157.38 312.10 Td (new ) Tj ET Q q 0 0 0 rg BT 177.05 312.10 Td (or ) Tj ET Q q 0 0 0 rg BT 188.39 312.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 227.51 312.10 Td (land ) Tj ET Q q 0 0 0 rg BT 247.73 312.10 Td (easements ) Tj ET Q q 0 0 0 rg BT 291.84 312.10 Td (under ) Tj ET Q q 0 0 0 rg BT 317.40 312.10 Td (T) Tj ET Q q 0 0 0 rg BT 322.81 312.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 343.04 312.10 Td (842 ) Tj ET Q q 0 0 0 rg BT 361.05 312.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 404.05 312.10 Td (at ) Tj ET Q q 0 0 0 rg BT 414.28 312.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.51 312.10 Td (date ) Tj ET Q q 0 0 0 rg BT 449.17 312.10 Td (the ) Tj ET Q q 0 0 0 rg BT 464.40 312.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 490.18 312.10 Td (adopts ) Tj ET Q q 0 0 0 rg BT 519.08 312.10 Td (T) Tj ET Q q 0 0 0 rg BT 524.49 312.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 544.72 312.10 Td (842; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 300.10 Td (otherwise, ) Tj ET Q q 0 0 0 rg BT 94.42 300.10 Td (an ) Tj ET Q q 0 0 0 rg BT 107.40 300.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 133.72 300.10 Td (should ) Tj ET Q q 0 0 0 rg BT 163.93 300.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 200.78 300.10 Td (all ) Tj ET Q q 0 0 0 rg BT 214.32 300.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 249.53 300.10 Td (or ) Tj ET Q q 0 0 0 rg BT 261.40 300.10 Td (expired ) Tj ET Q q 0 0 0 rg BT 294.93 300.10 Td (land ) Tj ET Q q 0 0 0 rg BT 315.69 300.10 Td (easements ) Tj ET Q q 0 0 0 rg BT 360.32 300.10 Td (in ) Tj ET Q q 0 0 0 rg BT 371.64 300.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 419.06 300.10 Td (with ) Tj ET Q q 0 0 0 rg BT 440.38 300.10 Td (the ) Tj ET Q q 0 0 0 rg BT 456.14 300.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 494.68 300.10 Td (of ) Tj ET Q q 0 0 0 rg BT 506.55 300.10 Td (the ) Tj ET Q q 0 0 0 rg BT 522.31 300.10 Td (new ) Tj ET Q q 0 0 0 rg BT 542.51 300.10 Td (lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 288.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 103.86 288.10 Td (in ) Tj ET Q q 0 0 0 rg BT 113.63 288.10 Td (T) Tj ET Q q 0 0 0 rg BT 119.04 288.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 138.41 288.10 Td (842 ) Tj ET Q q 0 0 0 rg BT 155.56 288.10 Td (to ) Tj ET Q q 0 0 0 rg BT 165.50 288.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 192.09 288.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 226.45 288.10 Td (they ) Tj ET Q q 0 0 0 rg BT 245.82 288.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 267.41 288.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.78 288.10 Td (definition ) Tj ET Q q 0 0 0 rg BT 322.82 288.10 Td (of ) Tj ET Q q 0 0 0 rg BT 333.30 288.10 Td (a ) Tj ET Q q 0 0 0 rg BT 339.89 288.10 Td (lease. ) Tj ET Q q 0 0 0 rg BT 364.53 288.10 Td ( ) Tj ET Q q 0 0 0 rg BT 366.53 288.10 Td (The ) Tj ET Q q 0 0 0 rg BT 384.23 288.10 Td (ef) Tj ET Q q 0 0 0 rg BT 391.82 288.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 421.17 288.10 Td (date ) Tj ET Q q 0 0 0 rg BT 439.98 288.10 Td (and ) Tj ET Q q 0 0 0 rg BT 456.57 288.10 Td (transition ) Tj ET Q q 0 0 0 rg BT 496.50 288.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 550.85 288.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 276.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.85 276.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 116.53 276.10 Td (are ) Tj ET Q q 0 0 0 rg BT 130.87 276.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.22 276.10 Td (same ) Tj ET Q q 0 0 0 rg BT 167.90 276.10 Td (as ) Tj ET Q q 0 0 0 rg BT 178.36 276.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.71 276.10 Td (ef) Tj ET Q q 0 0 0 rg BT 200.30 276.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 229.64 276.10 Td (date ) Tj ET Q q 0 0 0 rg BT 248.43 276.10 Td (and ) Tj ET Q q 0 0 0 rg BT 265.00 276.10 Td (transition ) Tj ET Q q 0 0 0 rg BT 304.91 276.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 359.24 276.10 Td (in ) Tj ET Q q 0 0 0 rg BT 368.68 276.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 390.82 276.10 Td (2016-02. ) Tj ET Q q 0 0 0 rg BT 428.79 276.10 Td ( ) Tj ET Q q 0 0 0 rg BT 430.76 276.10 Td (This ) Tj ET Q q 0 0 0 rg BT 450.21 276.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 472.34 276.10 Td (is ) Tj ET Q q 0 0 0 rg BT 481.15 276.10 Td (not ) Tj ET Q q 0 0 0 rg BT 496.06 276.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 533.73 276.10 Td (to ) Tj ET Q q 0 0 0 rg BT 543.64 276.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 264.10 Td (a ) Tj ET Q q 0 0 0 rg BT 57.04 264.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 102.36 264.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 132.68 264.10 Td (on ) Tj ET Q q 0 0 0 rg BT 145.78 264.10 Td (the ) Tj ET Q q 0 0 0 rg BT 161.11 264.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 208.79 264.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 247.43 264.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 277.75 264.10 Td (of ) Tj ET Q q 0 0 0 rg BT 289.18 264.10 Td (the ) Tj ET Q q 0 0 0 rg BT 304.50 264.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 342.61 264.10 Td (of ) Tj ET Q q 0 0 0 rg BT 353.36 264.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 376.47 264.10 Td (2016-02 ) Tj ET Q q 0 0 0 rg BT 412.90 264.10 Td (\(discussed ) Tj ET Q q 0 0 0 rg BT 457.67 264.10 Td (above\) ) Tj ET Q q 0 0 0 rg BT 487.98 264.10 Td (or ) Tj ET Q q 0 0 0 rg BT 499.42 264.10 Td (its ) Tj ET Q q 0 0 0 rg BT 511.97 264.10 Td (consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 252.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.98 252.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 131.69 252.10 Td (and ) Tj ET Q q 0 0 0 rg BT 148.63 252.10 Td (disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 228.10 Td (In ) Tj ET Q q 0 0 0 rg BT 61.20 228.10 Td (March ) Tj ET Q q 0 0 0 rg BT 90.67 228.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 116.53 228.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.12 228.10 Td (F) Tj ET Q q 0 0 0 rg BT 136.94 228.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 159.76 228.10 Td (issued) Tj ET Q q 0 0 0 rg BT 186.71 228.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 210.08 228.10 Td (2018-05, ) Tj ET Q q 0 0 0 rg BT 249.28 228.10 Td (which ) Tj ET Q q 0 0 0 rg BT 277.08 228.10 Td (amendsIncome ) Tj ET Q q 0 0 0 rg BT 343.24 228.10 Td (T) Tj ET Q q 0 0 0 rg BT 348.65 228.10 Td (axes ) Tj ET Q q 0 0 0 rg BT 369.79 228.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 378.53 228.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 399.11 228.10 Td (740\)byincorporating ) Tj ET Q q 0 0 0 rg BT 489.68 228.10 Td (the ) Tj ET Q q 0 0 0 rg BT 505.27 228.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 548.07 228.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 216.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 91.49 216.10 Td (Commission) Tj ET Q q 0 0 0 rg BT 144.83 216.10 Td (s ) Tj ET Q q 0 0 0 rg BT 151.29 216.10 Td (\(SEC\) ) Tj ET Q q 0 0 0 rg BT 187.73 216.10 Td (Staf) Tj ET Q q 0 0 0 rg BT 203.66 216.10 Td (f ) Tj ET Q q 0 0 0 rg BT 208.99 216.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 258.21 216.10 Td (Bulletin ) Tj ET Q q 0 0 0 rg BT 293.00 216.10 Td (1) Tj ET Q q 0 0 0 rg BT 297.63 216.10 Td (18 ) Tj ET Q q 0 0 0 rg BT 310.20 216.10 Td (\(SAB ) Tj ET Q q 0 0 0 rg BT 339.98 216.10 Td (1) Tj ET Q q 0 0 0 rg BT 344.61 216.10 Td (18\) ) Tj ET Q q 0 0 0 rg BT 364.95 216.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 392.51 216.10 Td (on ) Tj ET Q q 0 0 0 rg BT 405.08 216.10 Td (December ) Tj ET Q q 0 0 0 rg BT 448.73 216.10 Td (22, ) Tj ET Q q 0 0 0 rg BT 463.79 216.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 488.86 216.10 Td (SAB ) Tj ET Q q 0 0 0 rg BT 510.88 216.10 Td (1) Tj ET Q q 0 0 0 rg BT 515.51 216.10 Td (18 ) Tj ET Q q 0 0 0 rg BT 528.07 216.10 Td (provides ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 204.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 87.61 204.10 Td (on ) Tj ET Q q 0 0 0 rg BT 99.62 204.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 145.51 204.10 Td (for ) Tj ET Q q 0 0 0 rg BT 159.18 204.10 Td (the ) Tj ET Q q 0 0 0 rg BT 173.41 204.10 Td (ef) Tj ET Q q 0 0 0 rg BT 181.00 204.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 201.89 204.10 Td (of ) Tj ET Q q 0 0 0 rg BT 212.24 204.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.32 204.10 Td (T) Tj ET Q q 0 0 0 rg BT 231.73 204.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 243.19 204.10 Td (Cuts ) Tj ET Q q 0 0 0 rg BT 263.54 204.10 Td (and ) Tj ET Q q 0 0 0 rg BT 279.99 204.10 Td (Jobs ) Tj ET Q q 0 0 0 rg BT 299.34 204.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 315.80 204.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.14 204.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 348.16 204.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 365.72 204.10 Td (T) Tj ET Q q 0 0 0 rg BT 375.57 204.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 386.57 204.10 Td (Act\). ) Tj ET Q q 0 0 0 rg BT 413.29 204.10 Td ( ) Tj ET Q q 0 0 0 rg BT 415.16 204.10 Td (W) Tj ET Q q 0 0 0 rg BT 423.80 204.10 Td (e ) Tj ET Q q 0 0 0 rg BT 430.25 204.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 476.13 204.10 Td (the ) Tj ET Q q 0 0 0 rg BT 490.36 204.10 Td (income ) Tj ET Q q 0 0 0 rg BT 521.81 204.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 536.04 204.10 Td (ef) Tj ET Q q 0 0 0 rg BT 543.63 204.10 Td (fects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.60 192.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.38 192.10 Td (T) Tj ET Q q 0 0 0 rg BT 80.79 192.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 92.39 192.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 109.59 192.10 Td (in ) Tj ET Q q 0 0 0 rg BT 120.14 192.10 Td (our ) Tj ET Q q 0 0 0 rg BT 136.24 192.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 159.00 192.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 196.75 192.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 241.73 192.10 Td (in ) Tj ET Q q 0 0 0 rg BT 252.28 192.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 300.01 192.10 Td (with ) Tj ET Q q 0 0 0 rg BT 320.55 192.10 Td (SAB ) Tj ET Q q 0 0 0 rg BT 342.77 192.10 Td (1) Tj ET Q q 0 0 0 rg BT 347.40 192.10 Td (18. ) Tj ET Q q 0 0 0 rg BT 362.67 192.10 Td (Please ) Tj ET Q q 0 0 0 rg BT 390.98 192.10 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 406.52001953125 190.76699218750002 m 438.72607421875 190.76699218750002 l s q 0 0 1 rg BT 406.52 192.10 Td (Note ) Tj ET Q q 0 0 1 rg BT 428.73 192.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 438.73 192.10 Td ( ) Tj ET Q q 0 0 0 rg BT 441.49 192.10 Td (to ) Tj ET Q q 0 0 0 rg BT 452.04 192.10 Td (our ) Tj ET Q q 0 0 0 rg BT 468.14 192.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 505.89 192.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 550.86 192.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 180.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 91.99 180.10 Td (disclosures.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 156.10 Td (NOTE 2. Inventory and Capitalized Inter) Tj ET Q q 0 0 0 rg BT 226.55 156.10 Td (est) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 134.10 Td (Inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 112.10 Td (Inventory ) Tj ET Q q 0 0 0 rg BT 91.23 112.10 Td (is ) Tj ET Q q 0 0 0 rg BT 100.75 112.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 138.58 112.10 Td (at ) Tj ET Q q 0 0 0 rg BT 148.66 112.10 Td (cost, ) Tj ET Q q 0 0 0 rg BT 170.12 112.10 Td (unless ) Tj ET Q q 0 0 0 rg BT 197.97 112.10 Td (events ) Tj ET Q q 0 0 0 rg BT 226.37 112.10 Td (and ) Tj ET Q q 0 0 0 rg BT 243.67 112.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 303.16 112.10 Td (indicate ) Tj ET Q q 0 0 0 rg BT 337.66 112.10 Td (that ) Tj ET Q q 0 0 0 rg BT 355.51 112.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.58 112.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 406.75 112.10 Td (value ) Tj ET Q q 0 0 0 rg BT 431.26 112.10 Td (of ) Tj ET Q q 0 0 0 rg BT 442.45 112.10 Td (the ) Tj ET Q q 0 0 0 rg BT 457.52 112.10 Td (land ) Tj ET Q q 0 0 0 rg BT 477.59 112.10 Td (is ) Tj ET Q q 0 0 0 rg BT 487.11 112.10 Td (impaired, ) Tj ET Q q 0 0 0 rg BT 528.01 112.10 Td (at ) Tj ET Q q 0 0 0 rg BT 538.08 112.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 100.10 Td (point ) Tj ET Q q 0 0 0 rg BT 72.25 100.10 Td (the ) Tj ET Q q 0 0 0 rg BT 86.65 100.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 127.17 100.10 Td (is ) Tj ET Q q 0 0 0 rg BT 136.02 100.10 Td (written ) Tj ET Q q 0 0 0 rg BT 166.54 100.10 Td (down ) Tj ET Q q 0 0 0 rg BT 190.95 100.10 Td (to ) Tj ET Q q 0 0 0 rg BT 200.92 100.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 216.98 100.10 Td (value ) Tj ET Q q 0 0 0 rg BT 240.83 100.10 Td (\(please ) Tj ET Q q 0 0 0 rg BT 271.33 100.10 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 286.28857421875 98.76699218750002 m 312.916015625 98.76699218750002 l s q 0 0 1 rg BT 286.29 100.10 Td (Note ) Tj ET Q q 0 0 1 rg BT 307.92 100.10 Td (4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 312.92 100.10 Td ( ) Tj ET Q q 0 0 0 rg BT 315.10 100.10 Td (to ) Tj ET Q q 0 0 0 rg BT 325.07 100.10 Td (our ) Tj ET Q q 0 0 0 rg BT 340.59 100.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 377.76 100.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 422.16 100.10 Td (for ) Tj ET Q q 0 0 0 rg BT 436.01 100.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 478.19 100.10 Td (details ) Tj ET Q q 0 0 0 rg BT 506.48 100.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 539.21 100.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.18 100.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 88.10 Td (procedures ) Tj ET Q q 0 0 0 rg BT 95.42 88.10 Td (for ) Tj ET Q q 0 0 0 rg BT 109.12 88.10 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 152.82 88.10 Td (our ) Tj ET Q q 0 0 0 rg BT 168.20 88.10 Td (inventories ) Tj ET Q q 0 0 0 rg BT 214.68 88.10 Td (for ) Tj ET Q q 0 0 0 rg BT 228.39 88.10 Td (impairment\). ) Tj ET Q q 0 0 0 rg BT 282.37 88.10 Td ( ) Tj ET Q q 0 0 0 rg BT 284.42 88.10 Td (Inventory ) Tj ET Q q 0 0 0 rg BT 325.34 88.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 360.72 88.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.98 88.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 397.03 88.10 Td (of ) Tj ET Q q 0 0 0 rg BT 407.41 88.10 Td (land ) Tj ET Q q 0 0 0 rg BT 426.67 88.10 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 475.10 88.10 Td (land ) Tj ET Q q 0 0 0 rg BT 494.37 88.10 Td (development ) Tj ET Q q 0 0 0 rg BT 548.07 88.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 76.10 Td (home ) Tj ET Q q 0 0 0 rg BT 73.30 76.10 Td (construction, ) Tj ET Q q 0 0 0 rg BT 126.82 76.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 171.71 76.10 Td (interest, ) Tj ET Q q 0 0 0 rg BT 205.22 76.10 Td (real ) Tj ET Q q 0 0 0 rg BT 221.79 76.10 Td (estate ) Tj ET Q q 0 0 0 rg BT 246.14 76.10 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 270.77 76.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 295.12 76.10 Td (overhead ) Tj ET Q q 0 0 0 rg BT 333.35 76.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 354.93 76.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 389.83 76.10 Td (during ) Tj ET Q q 0 0 0 rg BT 417.52 76.10 Td (development ) Tj ET Q q 0 0 0 rg BT 470.75 76.10 Td (and ) Tj ET Q q 0 0 0 rg BT 486.78 76.10 Td (home ) Tj ET Q q 0 0 0 rg BT 510.58 76.10 Td (construction, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 64.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 64.10 Td (common ) Tj ET Q q 0 0 0 rg BT 103.93 64.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 126.43 64.10 Td (that ) Tj ET Q q 0 0 0 rg BT 143.93 64.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 174.19 64.10 Td (the ) Tj ET Q q 0 0 0 rg BT 188.91 64.10 Td (entire ) Tj ET Q q 0 0 0 rg BT 214.17 64.10 Td (community) Tj ET Q q 0 0 0 rg BT 259.08 64.10 Td (, ) Tj ET Q q 0 0 0 rg BT 264.08 64.10 Td (less ) Tj ET Q q 0 0 0 rg BT 281.58 64.10 Td (impairments, ) Tj ET Q q 0 0 0 rg BT 336.57 64.10 Td (if ) Tj ET Q q 0 0 0 rg BT 345.17 64.10 Td (any) Tj ET Q q 0 0 0 rg BT 358.96 64.10 Td (.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 33.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 33.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 58.67 740.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 98.39 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.22 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.93 740.10 Td (Company) Tj ET Q q 0 0 0 rg BT 165.60 740.10 Td (s ) Tj ET Q q 0 0 0 rg BT 171.99 740.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 212.82 740.10 Td (as ) Tj ET Q q 0 0 0 rg BT 223.65 740.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.48 740.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 270.31 740.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.31 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 292.81 740.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.74 740.10 Td (December ) Tj ET Q q 0 0 0 rg BT 353.33 740.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 368.33 740.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.33 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 390.83 740.10 Td (is ) Tj ET Q q 0 0 0 rg BT 400.00 740.10 Td (as ) Tj ET Q q 0 0 0 rg BT 410.83 740.10 Td (follows: ) Tj ET Q q 0 0 0 rg BT 446.11 740.10 Td ( ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 716.6 m 406 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 716.6 m 479 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 716.6 m 489 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 716.6 m 562 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 716.6 m 406 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 716.6 m 479 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 716.6 m 489 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 716.6 m 562 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 624.6 m 406 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 624.6 m 479 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 624.6 m 489 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 624.6 m 562 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 624.6 m 406 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 612.6 m 406 612.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 624.6 m 479 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 612.6 m 479 612.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 624.6 m 489 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 612.6 m 489 612.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 624.6 m 562 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 612.6 m 562 612.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 720.85 Td (\(In ) Tj ET Q q 0 0 0 rg BT 62.83 720.85 Td (thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.75 720.83 Td (June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.55 720.85 Td (December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 708.55 Td (Single-family lots, land and land development costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.50 708.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.80 708.68 Td (740,972) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.50 708.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 708.55 Td (687,260) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 696.55 Td (Land held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.80 696.68 Td (12,715) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 696.55 Td (6,491) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 684.55 Td (Homes under construction) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.80 684.68 Td (757,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 684.55 Td (579,051) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 672.55 Td (Model homes and furnishings - at cost \(less accumulated depreciation: June 30, 2018 - $13,71) Tj ET Q q 0 0 0 rg BT 358.02 672.55 Td (1;) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 664.55 Td ( December 31, 2017 - $12,715\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.80 664.83 Td (80,901) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 664.85 Td (74,622) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 652.55 Td (Community development district infrastructure) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.80 652.68 Td (1) Tj ET Q q 0 0 0 rg BT 457.80 652.68 Td (1,789) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 652.55 Td (13,049) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 640.55 Td (Land purchase deposits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.80 640.68 Td (33,820) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 640.55 Td (32,556) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 628.55 Td (Consolidated inventory not owned) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.80 628.68 Td (14,793) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 628.55 Td (21,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 616.55 Td (T) Tj ET Q q 0 0 0 rg BT 61.83 616.55 Td (otal inventory) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.50 616.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 616.68 Td (1,652,468) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.50 616.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.80 616.55 Td (1,414,574) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 589.10 Td (Single-family ) Tj ET Q q 0 0 0 rg BT 106.96 589.10 Td (lots, ) Tj ET Q q 0 0 0 rg BT 126.38 589.10 Td (land ) Tj ET Q q 0 0 0 rg BT 146.07 589.10 Td (and ) Tj ET Q q 0 0 0 rg BT 162.99 589.10 Td (land ) Tj ET Q q 0 0 0 rg BT 182.68 589.10 Td (development ) Tj ET Q q 0 0 0 rg BT 236.80 589.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 259.27 589.10 Td (include ) Tj ET Q q 0 0 0 rg BT 291.18 589.10 Td (raw ) Tj ET Q q 0 0 0 rg BT 308.64 589.10 Td (land ) Tj ET Q q 0 0 0 rg BT 328.33 589.10 Td (that ) Tj ET Q q 0 0 0 rg BT 345.80 589.10 Td (the ) Tj ET Q q 0 0 0 rg BT 360.49 589.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 401.85 589.10 Td (has ) Tj ET Q q 0 0 0 rg BT 417.65 589.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 460.66 589.10 Td (to ) Tj ET Q q 0 0 0 rg BT 470.92 589.10 Td (develop ) Tj ET Q q 0 0 0 rg BT 505.04 589.10 Td (into ) Tj ET Q q 0 0 0 rg BT 523.07 589.10 Td (lots, ) Tj ET Q q 0 0 0 rg BT 542.50 589.10 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 577.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 85.18 577.10 Td (to ) Tj ET Q q 0 0 0 rg BT 95.33 577.10 Td (develop ) Tj ET Q q 0 0 0 rg BT 129.35 577.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.93 577.10 Td (raw ) Tj ET Q q 0 0 0 rg BT 161.28 577.10 Td (land ) Tj ET Q q 0 0 0 rg BT 180.87 577.10 Td (into ) Tj ET Q q 0 0 0 rg BT 198.79 577.10 Td (lots, ) Tj ET Q q 0 0 0 rg BT 218.10 577.10 Td (and ) Tj ET Q q 0 0 0 rg BT 234.91 577.10 Td (lots ) Tj ET Q q 0 0 0 rg BT 251.72 577.10 Td (for ) Tj ET Q q 0 0 0 rg BT 265.75 577.10 Td (which ) Tj ET Q q 0 0 0 rg BT 292.55 577.10 Td (development ) Tj ET Q q 0 0 0 rg BT 346.57 577.10 Td (has ) Tj ET Q q 0 0 0 rg BT 362.26 577.10 Td (been ) Tj ET Q q 0 0 0 rg BT 383.51 577.10 Td (completed, ) Tj ET Q q 0 0 0 rg BT 430.02 577.10 Td (but ) Tj ET Q q 0 0 0 rg BT 445.17 577.10 Td (which ) Tj ET Q q 0 0 0 rg BT 471.97 577.10 Td (have ) Tj ET Q q 0 0 0 rg BT 493.21 577.10 Td (not ) Tj ET Q q 0 0 0 rg BT 508.36 577.10 Td (yet ) Tj ET Q q 0 0 0 rg BT 522.94 577.10 Td (been ) Tj ET Q q 0 0 0 rg BT 544.18 577.10 Td (used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 565.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.78 565.10 Td (start ) Tj ET Q q 0 0 0 rg BT 79.50 565.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 131.43 565.10 Td (of ) Tj ET Q q 0 0 0 rg BT 142.26 565.10 Td (a ) Tj ET Q q 0 0 0 rg BT 149.20 565.10 Td (home.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 543.10 Td (Homes ) Tj ET Q q 0 0 0 rg BT 80.08 543.10 Td (under ) Tj ET Q q 0 0 0 rg BT 105.10 543.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 156.79 543.10 Td (include ) Tj ET Q q 0 0 0 rg BT 188.47 543.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 216.83 543.10 Td (that ) Tj ET Q q 0 0 0 rg BT 234.08 543.10 Td (are ) Tj ET Q q 0 0 0 rg BT 248.53 543.10 Td (in ) Tj ET Q q 0 0 0 rg BT 258.56 543.10 Td (various ) Tj ET Q q 0 0 0 rg BT 290.25 543.10 Td (stages ) Tj ET Q q 0 0 0 rg BT 316.94 543.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.52 543.10 Td (construction. ) Tj ET Q q 0 0 0 rg BT 381.71 543.10 Td ( ) Tj ET Q q 0 0 0 rg BT 383.46 543.10 Td (As ) Tj ET Q q 0 0 0 rg BT 396.83 543.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.41 543.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 442.99 543.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.99 543.10 Td ( ) Tj ET Q q 0 0 0 rg BT 465.24 543.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.93 543.10 Td (December ) Tj ET Q q 0 0 0 rg BT 525.26 543.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 540.01 543.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 543.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 531.10 Td (we ) Tj ET Q q 0 0 0 rg BT 64.94 531.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.16 531.10 Td (1,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.66 531.10 Td ( ) Tj ET Q q 0 0 0 rg BT 109.44 531.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 139.33 531.10 Td (\(with ) Tj ET Q q 0 0 0 rg BT 164.22 531.10 Td (a ) Tj ET Q q 0 0 0 rg BT 172.44 531.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 209.53 531.10 Td (value ) Tj ET Q q 0 0 0 rg BT 234.97 531.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.08 531.10 Td ($243.0 ) Tj ET Q q 0 0 0 rg BT 278.36 531.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.25 531.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 314.36 531.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.58 531.10 Td (1,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.08 531.10 Td ( ) Tj ET Q q 0 0 0 rg BT 358.86 531.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 388.75 531.10 Td (\(with ) Tj ET Q q 0 0 0 rg BT 413.64 531.10 Td (a ) Tj ET Q q 0 0 0 rg BT 421.85 531.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 458.95 531.10 Td (value ) Tj ET Q q 0 0 0 rg BT 484.39 531.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 531.10 Td ($242.7 ) Tj ET Q q 0 0 0 rg BT 527.78 531.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.67 531.10 Td (\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 519.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.16 519.10 Td (, ) Tj ET Q q 0 0 0 rg BT 102.16 519.10 Td (included ) Tj ET Q q 0 0 0 rg BT 139.09 519.10 Td (in ) Tj ET Q q 0 0 0 rg BT 149.37 519.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 177.98 519.10 Td (under ) Tj ET Q q 0 0 0 rg BT 203.25 519.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 255.18 519.10 Td (that ) Tj ET Q q 0 0 0 rg BT 272.68 519.10 Td (were ) Tj ET Q q 0 0 0 rg BT 294.61 519.10 Td (not ) Tj ET Q q 0 0 0 rg BT 309.89 519.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 340.71 519.10 Td (to ) Tj ET Q q 0 0 0 rg BT 350.99 519.10 Td (a ) Tj ET Q q 0 0 0 rg BT 357.93 519.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 379.87 519.10 Td (contract.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (Model ) Tj ET Q q 0 0 0 rg BT 78.96 497.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 108.42 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 126.22 497.10 Td (furnishings ) Tj ET Q q 0 0 0 rg BT 174.57 497.10 Td (include ) Tj ET Q q 0 0 0 rg BT 207.36 497.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 236.82 497.10 Td (that ) Tj ET Q q 0 0 0 rg BT 255.17 497.10 Td (are ) Tj ET Q q 0 0 0 rg BT 270.73 497.10 Td (under ) Tj ET Q q 0 0 0 rg BT 296.85 497.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 349.64 497.10 Td (or ) Tj ET Q q 0 0 0 rg BT 361.32 497.10 Td (have ) Tj ET Q q 0 0 0 rg BT 383.55 497.10 Td (been ) Tj ET Q q 0 0 0 rg BT 405.78 497.10 Td (completed ) Tj ET Q q 0 0 0 rg BT 450.79 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 468.58 497.10 Td (are ) Tj ET Q q 0 0 0 rg BT 484.14 497.10 Td (being ) Tj ET Q q 0 0 0 rg BT 509.71 497.10 Td (used ) Tj ET Q q 0 0 0 rg BT 531.39 497.10 Td (as ) Tj ET Q q 0 0 0 rg BT 543.08 497.10 Td (sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (models. ) Tj ET Q q 0 0 0 rg BT 83.24 485.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.42 485.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.32 485.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 135.67 485.10 Td (also ) Tj ET Q q 0 0 0 rg BT 154.13 485.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 189.81 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 204.38 485.10 Td (net ) Tj ET Q q 0 0 0 rg BT 218.95 485.10 Td (book ) Tj ET Q q 0 0 0 rg BT 241.30 485.10 Td (value ) Tj ET Q q 0 0 0 rg BT 265.31 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.99 485.10 Td (furnishings ) Tj ET Q q 0 0 0 rg BT 323.34 485.10 Td (included ) Tj ET Q q 0 0 0 rg BT 360.13 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 370.26 485.10 Td (our ) Tj ET Q q 0 0 0 rg BT 385.94 485.10 Td (model ) Tj ET Q q 0 0 0 rg BT 413.29 485.10 Td (homes. ) Tj ET Q q 0 0 0 rg BT 444.25 485.10 Td ( ) Tj ET Q q 0 0 0 rg BT 446.60 485.10 Td (Depreciation ) Tj ET Q q 0 0 0 rg BT 500.60 485.10 Td (on ) Tj ET Q q 0 0 0 rg BT 512.95 485.10 Td (model ) Tj ET Q q 0 0 0 rg BT 540.30 485.10 Td (home ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (furnishings ) Tj ET Q q 0 0 0 rg BT 97.00 473.10 Td (is ) Tj ET Q q 0 0 0 rg BT 106.17 473.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 143.65 473.10 Td (using ) Tj ET Q q 0 0 0 rg BT 167.82 473.10 Td (an ) Tj ET Q q 0 0 0 rg BT 179.75 473.10 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 227.21 473.10 Td (method ) Tj ET Q q 0 0 0 rg BT 259.71 473.10 Td (over ) Tj ET Q q 0 0 0 rg BT 279.97 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 294.69 473.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 335.51 473.10 Td (useful ) Tj ET Q q 0 0 0 rg BT 362.45 473.10 Td (life ) Tj ET Q q 0 0 0 rg BT 378.27 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 389.10 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 403.82 473.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 432.15 473.10 Td (which ) Tj ET Q q 0 0 0 rg BT 459.09 473.10 Td (is ) Tj ET Q q 0 0 0 rg BT 468.26 473.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 505.75 473.10 Td (three ) Tj ET Q q 0 0 0 rg BT 528.24 473.10 Td (years.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 451.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 451.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.04 451.10 Td (own ) Tj ET Q q 0 0 0 rg BT 84.73 451.10 Td (lots ) Tj ET Q q 0 0 0 rg BT 101.64 451.10 Td (in ) Tj ET Q q 0 0 0 rg BT 111.89 451.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 141.56 451.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 195.68 451.10 Td (in ) Tj ET Q q 0 0 0 rg BT 205.93 451.10 Td (Florida ) Tj ET Q q 0 0 0 rg BT 237.28 451.10 Td (that ) Tj ET Q q 0 0 0 rg BT 254.74 451.10 Td (have ) Tj ET Q q 0 0 0 rg BT 276.08 451.10 Td (Community ) Tj ET Q q 0 0 0 rg BT 326.33 451.10 Td (Development ) Tj ET Q q 0 0 0 rg BT 382.67 451.10 Td (Districts ) Tj ET Q q 0 0 0 rg BT 419.02 451.10 Td (\(CDDs\). ) Tj ET Q q 0 0 0 rg BT 464.53 451.10 Td ( ) Tj ET Q q 0 0 0 rg BT 466.82 451.10 Td (The ) Tj ET Q q 0 0 0 rg BT 484.83 451.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 526.18 451.10 Td (records ) Tj ET Q q 0 0 0 rg BT 558.08 451.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 439.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 84.13 439.10 Td (for ) Tj ET Q q 0 0 0 rg BT 99.31 439.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.05 439.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 156.89 439.10 Td (developer ) Tj ET Q q 0 0 0 rg BT 199.83 439.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 247.80 439.10 Td (that ) Tj ET Q q 0 0 0 rg BT 266.31 439.10 Td (are ) Tj ET Q q 0 0 0 rg BT 282.04 439.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 320.54 439.10 Td (and ) Tj ET Q q 0 0 0 rg BT 338.50 439.10 Td (estimable ) Tj ET Q q 0 0 0 rg BT 380.34 439.10 Td (and ) Tj ET Q q 0 0 0 rg BT 398.30 439.10 Td (user ) Tj ET Q q 0 0 0 rg BT 418.48 439.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 438.10 439.10 Td (that ) Tj ET Q q 0 0 0 rg BT 456.62 439.10 Td (are ) Tj ET Q q 0 0 0 rg BT 472.35 439.10 Td (required ) Tj ET Q q 0 0 0 rg BT 509.18 439.10 Td (to ) Tj ET Q q 0 0 0 rg BT 520.48 439.10 Td (be ) Tj ET Q q 0 0 0 rg BT 533.44 439.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 554.18 439.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 427.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 95.39 427.10 Td (at ) Tj ET Q q 0 0 0 rg BT 105.18 427.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.98 427.10 Td (time ) Tj ET Q q 0 0 0 rg BT 140.33 427.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.13 427.10 Td (parcel ) Tj ET Q q 0 0 0 rg BT 182.14 427.10 Td (or ) Tj ET Q q 0 0 0 rg BT 193.05 427.10 Td (unit ) Tj ET Q q 0 0 0 rg BT 211.18 427.10 Td (is ) Tj ET Q q 0 0 0 rg BT 220.44 427.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 239.69 427.10 Td (to ) Tj ET Q q 0 0 0 rg BT 250.04 427.10 Td (an ) Tj ET Q q 0 0 0 rg BT 262.06 427.10 Td (end ) Tj ET Q q 0 0 0 rg BT 279.08 427.10 Td (user) Tj ET Q q 0 0 0 rg BT 295.19 427.10 Td (.) Tj ET Q q 0 0 0 rg BT 302.51 427.10 Td (The ) Tj ET Q q 0 0 0 rg BT 320.64 427.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 362.10 427.10 Td (reduces ) Tj ET Q q 0 0 0 rg BT 395.22 427.10 Td (this ) Tj ET Q q 0 0 0 rg BT 412.25 427.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 445.94 427.10 Td (at ) Tj ET Q q 0 0 0 rg BT 455.74 427.10 Td (the ) Tj ET Q q 0 0 0 rg BT 470.54 427.10 Td (time ) Tj ET Q q 0 0 0 rg BT 490.89 427.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.80 427.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 533.27 427.10 Td (and ) Tj ET Q q 0 0 0 rg BT 550.29 427.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 415.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 82.17 415.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.64 415.10 Td (the ) Tj ET Q q 0 0 0 rg BT 107.00 415.10 Td (property) Tj ET Q q 0 0 0 rg BT 140.22 415.10 Td (.) Tj ET Q q 0 0 0 rg BT 147.54 415.10 Td (The ) Tj ET Q q 0 0 0 rg BT 165.23 415.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 206.25 415.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 243.37 415.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.94 415.10 Td ($1) Tj ET Q q 0 0 0 rg BT 259.57 415.10 Td (1.8 ) Tj ET Q q 0 0 0 rg BT 274.21 415.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.10 415.10 Td ( ) Tj ET Q q 0 0 0 rg BT 305.24 415.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.81 415.10 Td ($13.0 ) Tj ET Q q 0 0 0 rg BT 346.45 415.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.34 415.10 Td ( ) Tj ET Q q 0 0 0 rg BT 377.48 415.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 410.73 415.10 Td (related ) Tj ET Q q 0 0 0 rg BT 440.07 415.10 Td (to ) Tj ET Q q 0 0 0 rg BT 449.98 415.10 Td (these ) Tj ET Q q 0 0 0 rg BT 472.67 415.10 Td (CDD ) Tj ET Q q 0 0 0 rg BT 495.92 415.10 Td (bond ) Tj ET Q q 0 0 0 rg BT 518.06 415.10 Td (obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 403.10 Td (as ) Tj ET Q q 0 0 0 rg BT 60.33 403.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.16 403.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 106.99 403.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.99 403.10 Td ( ) Tj ET Q q 0 0 0 rg BT 129.49 403.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.43 403.10 Td (December ) Tj ET Q q 0 0 0 rg BT 190.01 403.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 205.01 403.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.01 403.10 Td (, ) Tj ET Q q 0 0 0 rg BT 230.01 403.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 277.67 403.10 Td (, ) Tj ET Q q 0 0 0 rg BT 282.67 403.10 Td (along ) Tj ET Q q 0 0 0 rg BT 307.39 403.10 Td (with ) Tj ET Q q 0 0 0 rg BT 327.67 403.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.39 403.10 Td (related ) Tj ET Q q 0 0 0 rg BT 372.09 403.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 412.91 403.10 Td (infrastructure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 379.10 Td (Land ) Tj ET Q q 0 0 0 rg BT 72.29 379.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 110.07 379.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 145.09 379.10 Td (include ) Tj ET Q q 0 0 0 rg BT 176.77 379.10 Td (both ) Tj ET Q q 0 0 0 rg BT 196.79 379.10 Td (refundable ) Tj ET Q q 0 0 0 rg BT 241.79 379.10 Td (and ) Tj ET Q q 0 0 0 rg BT 258.47 379.10 Td (non-refundable ) Tj ET Q q 0 0 0 rg BT 321.80 379.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 357.93 379.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 377.39 379.10 Td (to ) Tj ET Q q 0 0 0 rg BT 387.41 379.10 Td (third ) Tj ET Q q 0 0 0 rg BT 408.54 379.10 Td (party ) Tj ET Q q 0 0 0 rg BT 431.33 379.10 Td (sellers ) Tj ET Q q 0 0 0 rg BT 459.12 379.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 491.91 379.10 Td (to ) Tj ET Q q 0 0 0 rg BT 501.93 379.10 Td (the ) Tj ET Q q 0 0 0 rg BT 516.39 379.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 554.17 379.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 367.10 Td (land. ) Tj ET Q q 0 0 0 rg BT 71.17 367.10 Td ( ) Tj ET Q q 0 0 0 rg BT 73.11 367.10 Td (On ) Tj ET Q q 0 0 0 rg BT 87.28 367.10 Td (an ) Tj ET Q q 0 0 0 rg BT 98.67 367.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 133.40 367.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 157.84 367.10 Td (the ) Tj ET Q q 0 0 0 rg BT 172.01 367.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 212.84 367.10 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 252.00 367.10 Td (the ) Tj ET Q q 0 0 0 rg BT 266.16 367.10 Td (land ) Tj ET Q q 0 0 0 rg BT 285.33 367.10 Td (option ) Tj ET Q q 0 0 0 rg BT 312.83 367.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 360.31 367.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 392.80 367.10 Td (to ) Tj ET Q q 0 0 0 rg BT 402.53 367.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.69 367.10 Td (land ) Tj ET Q q 0 0 0 rg BT 435.86 367.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 473.34 367.10 Td (deposits. ) Tj ET Q q 0 0 0 rg BT 510.57 367.10 Td ( ) Tj ET Q q 0 0 0 rg BT 512.52 367.10 Td (In ) Tj ET Q q 0 0 0 rg BT 522.80 367.10 Td (the ) Tj ET Q q 0 0 0 rg BT 536.96 367.10 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 355.10 Td (during ) Tj ET Q q 0 0 0 rg BT 77.28 355.10 Td (which ) Tj ET Q q 0 0 0 rg BT 103.39 355.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.28 355.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 157.84 355.10 Td (makes ) Tj ET Q q 0 0 0 rg BT 185.06 355.10 Td (the ) Tj ET Q q 0 0 0 rg BT 198.95 355.10 Td (decision ) Tj ET Q q 0 0 0 rg BT 233.95 355.10 Td (not ) Tj ET Q q 0 0 0 rg BT 248.40 355.10 Td (to ) Tj ET Q q 0 0 0 rg BT 257.85 355.10 Td (proceed ) Tj ET Q q 0 0 0 rg BT 291.17 355.10 Td (with ) Tj ET Q q 0 0 0 rg BT 310.62 355.10 Td (the ) Tj ET Q q 0 0 0 rg BT 324.50 355.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 361.71 355.10 Td (of ) Tj ET Q q 0 0 0 rg BT 371.72 355.10 Td (land ) Tj ET Q q 0 0 0 rg BT 390.61 355.10 Td (under ) Tj ET Q q 0 0 0 rg BT 415.05 355.10 Td (an ) Tj ET Q q 0 0 0 rg BT 426.16 355.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 471.97 355.10 Td (the ) Tj ET Q q 0 0 0 rg BT 485.86 355.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 526.42 355.10 Td (expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 343.10 Td (any ) Tj ET Q q 0 0 0 rg BT 66.44 343.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 101.72 343.10 Td (and ) Tj ET Q q 0 0 0 rg BT 118.66 343.10 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 171.68 343.10 Td (pre-acquisition ) Tj ET Q q 0 0 0 rg BT 234.16 343.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 256.66 343.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 289.71 343.10 Td (to ) Tj ET Q q 0 0 0 rg BT 299.98 343.10 Td (such ) Tj ET Q q 0 0 0 rg BT 320.81 343.10 Td (agreement.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 321.10 Td (Capitalized ) Tj ET Q q 0 0 0 rg BT 98.11 321.10 Td (Interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.10 299.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 110.04 299.10 Td (capitalizes ) Tj ET Q q 0 0 0 rg BT 155.30 299.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 187.79 299.10 Td (during ) Tj ET Q q 0 0 0 rg BT 216.95 299.10 Td (land ) Tj ET Q q 0 0 0 rg BT 237.22 299.10 Td (development ) Tj ET Q q 0 0 0 rg BT 291.93 299.10 Td (and ) Tj ET Q q 0 0 0 rg BT 309.42 299.10 Td (home ) Tj ET Q q 0 0 0 rg BT 334.70 299.10 Td (construction.Capitalized ) Tj ET Q q 0 0 0 rg BT 440.22 299.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 472.71 299.10 Td (is ) Tj ET Q q 0 0 0 rg BT 482.44 299.10 Td (char) Tj ET Q q 0 0 0 rg BT 499.46 299.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 516.96 299.10 Td (to ) Tj ET Q q 0 0 0 rg BT 527.79 299.10 Td (land ) Tj ET Q q 0 0 0 rg BT 548.06 299.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 83.36 287.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 105.54 287.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.17 287.10 Td (expensed ) Tj ET Q q 0 0 0 rg BT 161.56 287.10 Td (as ) Tj ET Q q 0 0 0 rg BT 172.08 287.10 Td (the ) Tj ET Q q 0 0 0 rg BT 186.48 287.10 Td (related ) Tj ET Q q 0 0 0 rg BT 215.87 287.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 256.38 287.10 Td (is ) Tj ET Q q 0 0 0 rg BT 265.24 287.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 304.63 287.10 Td (to ) Tj ET Q q 0 0 0 rg BT 314.59 287.10 Td (a ) Tj ET Q q 0 0 0 rg BT 321.22 287.10 Td (third ) Tj ET Q q 0 0 0 rg BT 342.29 287.10 Td (party) Tj ET Q q 0 0 0 rg BT 362.19 287.10 Td (.) Tj ET Q q 0 0 0 rg BT 369.51 287.10 Td (The ) Tj ET Q q 0 0 0 rg BT 387.24 287.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 426.64 287.10 Td (of ) Tj ET Q q 0 0 0 rg BT 437.16 287.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 482.65 287.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 514.27 287.10 Td (for ) Tj ET Q q 0 0 0 rg BT 528.12 287.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.52 287.10 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 273.90 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 273.90 Td (six ) Tj ET Q q 0 0 0 rg BT 80.61 273.90 Td (months ) Tj ET Q q 0 0 0 rg BT 112.56 273.90 Td (ended ) Tj ET Q q 0 0 0 rg BT 138.93 273.90 Td (June ) Tj ET Q q 0 0 0 rg BT 159.76 273.90 Td (30, ) Tj ET Q q 0 0 0 rg BT 174.76 273.90 Td (2018 ) Tj ET Q q 0 0 0 rg BT 197.26 273.90 Td (and ) Tj ET Q q 0 0 0 rg BT 214.20 273.90 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.20 273.90 Td ( ) Tj ET Q q 0 0 0 rg BT 236.70 273.90 Td (is ) Tj ET Q q 0 0 0 rg BT 245.87 273.90 Td (as ) Tj ET Q q 0 0 0 rg BT 256.70 273.90 Td (follows) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 286.70 273.90 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 250.39999999999998 m 375 250.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 250.39999999999998 m 382 250.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 250.39999999999998 m 439 250.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 250.39999999999998 m 449 250.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 250.39999999999998 m 502 250.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 250.39999999999998 m 509 250.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 250.39999999999998 m 562 250.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 237.39999999999998 m 318 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 237.39999999999998 m 375 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 237.39999999999998 m 382 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 237.39999999999998 m 439 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 237.39999999999998 m 449 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 250.39999999999998 m 502 250.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 237.39999999999998 m 502 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 250.39999999999998 m 509 250.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 237.39999999999998 m 509 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 250.39999999999998 m 562 250.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 237.39999999999998 m 562 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 237.39999999999998 m 318 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 237.39999999999998 m 375 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 237.39999999999998 m 382 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 237.39999999999998 m 439 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 237.39999999999998 m 449 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 237.39999999999998 m 502 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 237.39999999999998 m 509 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 237.39999999999998 m 562 237.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 198.39999999999998 m 318 198.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 198.39999999999998 m 375 198.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 198.39999999999998 m 382 198.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 198.39999999999998 m 439 198.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 198.39999999999998 m 449 198.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 198.39999999999998 m 502 198.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 198.39999999999998 m 509 198.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 198.39999999999998 m 562 198.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 198.39999999999998 m 439 198.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 168.39999999999998 m 318 168.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 168.39999999999998 m 375 168.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 168.39999999999998 m 382 168.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 168.39999999999998 m 439 168.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 168.39999999999998 m 449 168.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 168.39999999999998 m 502 168.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 168.39999999999998 m 509 168.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 168.39999999999998 m 562 168.39999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.35 254.63 Td (Thr) Tj ET Q q 0 0 0 rg BT 339.61 254.63 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.20 254.63 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 241.65 Td (\(In ) Tj ET Q q 0 0 0 rg BT 62.83 241.65 Td (thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.00 241.63 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.00 241.65 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 241.63 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.00 241.65 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 228.65 Td (Capitalized interest, beginning of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.50 228.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.80 228.63 Td (18,264) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.50 228.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 228.65 Td (16,008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 228.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 228.63 Td (17,169) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 228.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 228.65 Td (16,012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 215.65 Td (Interest ) Tj ET Q q 0 0 0 rg BT 77.49 215.65 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 114.13 215.65 Td (to ) Tj ET Q q 0 0 0 rg BT 122.36 215.65 Td (inventory) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.80 215.63 Td (7,191) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 215.65 Td (5,300) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 215.63 Td (13,150) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 215.65 Td (9,062) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 202.65 Td (Capitalized interest char) Tj ET Q q 0 0 0 rg BT 129.17 202.65 Td (ged to land and housing costs and expenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.10 202.63 Td (\(6,203) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.80 202.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.10 202.65 Td (\(4,843) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.80 202.65 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.10 202.63 Td (\(1) Tj ET Q q 0 0 0 rg BT 480.76 202.63 Td (1,067) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.80 202.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 202.65 Td (\(8,609) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 202.65 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 189.65 Td (Capitalized ) Tj ET Q q 0 0 0 rg BT 89.93 189.65 Td (interest, ) Tj ET Q q 0 0 0 rg BT 117.48 189.65 Td (end ) Tj ET Q q 0 0 0 rg BT 131.03 189.65 Td (of ) Tj ET Q q 0 0 0 rg BT 139.69 189.65 Td (period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.50 189.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.80 189.63 Td (19,252) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.50 189.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 189.65 Td (16,465) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 189.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 189.63 Td (19,252) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 189.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 189.65 Td (16,465) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 172.65 Td (Interest incurred) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.50 172.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.80 172.63 Td (12,079) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.50 172.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 172.65 Td (9,134) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 172.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 172.63 Td (23,916) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 172.65 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 172.65 Td (18,234) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 25 0 obj <>] /Rotate 0 /Contents 26 0 R>> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (NOTE 3. Investment in Joint ) Tj ET Q q 0 0 0 rg BT 175.44 740.25 Td (V) Tj ET Q q 0 0 0 rg BT 181.75 740.25 Td (entur) Tj ET Q q 0 0 0 rg BT 204.90 740.25 Td (e ) Tj ET Q q 0 0 0 rg BT 211.28 740.25 Td (Arrangements) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (Investment ) Tj ET Q q 0 0 0 rg BT 97.56 718.25 Td (in ) Tj ET Q q 0 0 0 rg BT 108.40 718.25 Td (Joint ) Tj ET Q q 0 0 0 rg BT 132.01 718.25 Td (V) Tj ET Q q 0 0 0 rg BT 137.58 718.25 Td (enture ) Tj ET Q q 0 0 0 rg BT 166.38 718.25 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 696.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.08 696.25 Td (order ) Tj ET Q q 0 0 0 rg BT 83.44 696.25 Td (to ) Tj ET Q q 0 0 0 rg BT 93.47 696.25 Td (minimize ) Tj ET Q q 0 0 0 rg BT 133.49 696.25 Td (our ) Tj ET Q q 0 0 0 rg BT 149.07 696.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 195.21 696.25 Td (and ) Tj ET Q q 0 0 0 rg BT 211.90 696.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 229.15 696.25 Td (of ) Tj ET Q q 0 0 0 rg BT 239.74 696.25 Td (land ) Tj ET Q q 0 0 0 rg BT 259.21 696.25 Td (exposure ) Tj ET Q q 0 0 0 rg BT 297.56 696.25 Td (in ) Tj ET Q q 0 0 0 rg BT 307.59 696.25 Td (a ) Tj ET Q q 0 0 0 rg BT 314.28 696.25 Td (single ) Tj ET Q q 0 0 0 rg BT 340.42 696.25 Td (location, ) Tj ET Q q 0 0 0 rg BT 377.39 696.25 Td (we ) Tj ET Q q 0 0 0 rg BT 391.30 696.25 Td (have ) Tj ET Q q 0 0 0 rg BT 412.43 696.25 Td (periodically ) Tj ET Q q 0 0 0 rg BT 462.44 696.25 Td (partnered ) Tj ET Q q 0 0 0 rg BT 502.45 696.25 Td (with ) Tj ET Q q 0 0 0 rg BT 522.48 696.25 Td (other ) Tj ET Q q 0 0 0 rg BT 545.28 696.25 Td (land ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 684.25 Td (developers ) Tj ET Q q 0 0 0 rg BT 94.32 684.25 Td (or ) Tj ET Q q 0 0 0 rg BT 104.15 684.25 Td (homebuilders ) Tj ET Q q 0 0 0 rg BT 160.08 684.25 Td (to ) Tj ET Q q 0 0 0 rg BT 169.36 684.25 Td (share ) Tj ET Q q 0 0 0 rg BT 191.96 684.25 Td (in ) Tj ET Q q 0 0 0 rg BT 201.24 684.25 Td (the ) Tj ET Q q 0 0 0 rg BT 214.96 684.25 Td (land ) Tj ET Q q 0 0 0 rg BT 233.68 684.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 279.06 684.25 Td (and ) Tj ET Q q 0 0 0 rg BT 295.00 684.25 Td (development ) Tj ET Q q 0 0 0 rg BT 348.15 684.25 Td (of ) Tj ET Q q 0 0 0 rg BT 357.99 684.25 Td (a ) Tj ET Q q 0 0 0 rg BT 363.93 684.25 Td (property ) Tj ET Q q 0 0 0 rg BT 399.30 684.25 Td (through ) Tj ET Q q 0 0 0 rg BT 431.91 684.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 451.75 684.25 Td (ownership ) Tj ET Q q 0 0 0 rg BT 494.91 684.25 Td (and ) Tj ET Q q 0 0 0 rg BT 510.85 684.25 Td (development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 99.91 672.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 120.63 672.25 Td (ventures, ) Tj ET Q q 0 0 0 rg BT 159.39 672.25 Td (and ) Tj ET Q q 0 0 0 rg BT 176.21 672.25 Td (other ) Tj ET Q q 0 0 0 rg BT 199.14 672.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 229.29 672.25 Td (arrangements. ) Tj ET Q q 0 0 0 rg BT 288.04 672.25 Td ( ) Tj ET Q q 0 0 0 rg BT 290.42 672.25 Td (During ) Tj ET Q q 0 0 0 rg BT 321.13 672.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.73 672.25 Td (six-month ) Tj ET Q q 0 0 0 rg BT 378.67 672.25 Td (period ) Tj ET Q q 0 0 0 rg BT 406.60 672.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 432.86 672.25 Td (June ) Tj ET Q q 0 0 0 rg BT 453.57 672.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 468.45 672.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.45 672.25 Td (, ) Tj ET Q q 0 0 0 rg BT 493.33 672.25 Td (we ) Tj ET Q q 0 0 0 rg BT 507.37 672.25 Td (decreased ) Tj ET Q q 0 0 0 rg BT 549.17 672.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 660.25 Td (total ) Tj ET Q q 0 0 0 rg BT 69.69 660.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 116.00 660.25 Td (in ) Tj ET Q q 0 0 0 rg BT 126.20 660.25 Td (such ) Tj ET Q q 0 0 0 rg BT 146.95 660.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 167.70 660.25 Td (venture ) Tj ET Q q 0 0 0 rg BT 200.11 660.25 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 256.39 660.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.81 660.25 Td ($6.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.71 660.25 Td ( ) Tj ET Q q 0 0 0 rg BT 320.13 660.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.99 660.25 Td ($20.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.88 660.25 Td ( ) Tj ET Q q 0 0 0 rg BT 398.30 660.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.94 660.25 Td (December ) Tj ET Q q 0 0 0 rg BT 451.44 660.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 466.36 660.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.36 660.25 Td ( ) Tj ET Q q 0 0 0 rg BT 488.78 660.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.98 660.25 Td ($13.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.87 660.25 Td ( ) Tj ET Q q 0 0 0 rg BT 555.29 660.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 648.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 85.07 648.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.07 648.25 Td (, ) Tj ET Q q 0 0 0 rg BT 109.81 648.25 Td (which ) Tj ET Q q 0 0 0 rg BT 136.49 648.25 Td (was ) Tj ET Q q 0 0 0 rg BT 154.29 648.25 Td (driven ) Tj ET Q q 0 0 0 rg BT 182.07 648.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 221.53 648.25 Td (by ) Tj ET Q q 0 0 0 rg BT 233.77 648.25 Td (our ) Tj ET Q q 0 0 0 rg BT 249.34 648.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 289.33 648.25 Td (lot ) Tj ET Q q 0 0 0 rg BT 302.13 648.25 Td (distributions ) Tj ET Q q 0 0 0 rg BT 354.38 648.25 Td (from ) Tj ET Q q 0 0 0 rg BT 376.06 648.25 Td (unconsolidated ) Tj ET Q q 0 0 0 rg BT 438.84 648.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 459.42 648.25 Td (ventures ) Tj ET Q q 0 0 0 rg BT 495.54 648.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.11 648.25 Td ($10.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.00 648.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 636.25 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 636.25 Td (fset, ) Tj ET Q q 0 0 0 rg BT 77.09 636.25 Td (in ) Tj ET Q q 0 0 0 rg BT 87.37 636.25 Td (part, ) Tj ET Q q 0 0 0 rg BT 107.91 636.25 Td (by ) Tj ET Q q 0 0 0 rg BT 120.41 636.25 Td (our ) Tj ET Q q 0 0 0 rg BT 136.24 636.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 156.51 636.25 Td (contributions ) Tj ET Q q 0 0 0 rg BT 211.79 636.25 Td (to ) Tj ET Q q 0 0 0 rg BT 222.06 636.25 Td (our ) Tj ET Q q 0 0 0 rg BT 237.89 636.25 Td (unconsolidated ) Tj ET Q q 0 0 0 rg BT 300.94 636.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 321.77 636.25 Td (ventures ) Tj ET Q q 0 0 0 rg BT 358.15 636.25 Td (during ) Tj ET Q q 0 0 0 rg BT 386.76 636.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.47 636.25 Td (first ) Tj ET Q q 0 0 0 rg BT 420.08 636.25 Td (half ) Tj ET Q q 0 0 0 rg BT 438.13 636.25 Td (of ) Tj ET Q q 0 0 0 rg BT 448.96 636.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.96 636.25 Td ( ) Tj ET Q q 0 0 0 rg BT 471.46 636.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.29 636.25 Td ($4.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.18 636.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 614.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 614.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.51 614.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 97.32 614.25 Td (that ) Tj ET Q q 0 0 0 rg BT 115.25 614.25 Td (the ) Tj ET Q q 0 0 0 rg BT 130.40 614.25 Td (Company) Tj ET Q q 0 0 0 rg BT 172.06 614.25 Td (s ) Tj ET Q q 0 0 0 rg BT 178.89 614.25 Td (maximum ) Tj ET Q q 0 0 0 rg BT 222.38 614.25 Td (exposure ) Tj ET Q q 0 0 0 rg BT 261.41 614.25 Td (related ) Tj ET Q q 0 0 0 rg BT 291.55 614.25 Td (to ) Tj ET Q q 0 0 0 rg BT 302.26 614.25 Td (its ) Tj ET Q q 0 0 0 rg BT 314.64 614.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 361.46 614.25 Td (in ) Tj ET Q q 0 0 0 rg BT 372.17 614.25 Td (these ) Tj ET Q q 0 0 0 rg BT 395.65 614.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 416.92 614.25 Td (venture ) Tj ET Q q 0 0 0 rg BT 449.84 614.25 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 506.64 614.25 Td (as ) Tj ET Q q 0 0 0 rg BT 517.90 614.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.17 614.25 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 602.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 602.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.25 602.25 Td (is ) Tj ET Q q 0 0 0 rg BT 81.67 602.25 Td (the ) Tj ET Q q 0 0 0 rg BT 96.63 602.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 129.38 602.25 Td (invested ) Tj ET Q q 0 0 0 rg BT 165.45 602.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.53 602.25 Td ($13.8 ) Tj ET Q q 0 0 0 rg BT 201.78 602.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.67 602.25 Td (, ) Tj ET Q q 0 0 0 rg BT 235.92 602.25 Td (which ) Tj ET Q q 0 0 0 rg BT 263.11 602.25 Td (is ) Tj ET Q q 0 0 0 rg BT 272.53 602.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 308.59 602.25 Td (as ) Tj ET Q q 0 0 0 rg BT 319.67 602.25 Td (Investment ) Tj ET Q q 0 0 0 rg BT 366.85 602.25 Td (in ) Tj ET Q q 0 0 0 rg BT 377.38 602.25 Td (Joint ) Tj ET Q q 0 0 0 rg BT 399.38 602.25 Td (V) Tj ET Q q 0 0 0 rg BT 405.49 602.25 Td (enture ) Tj ET Q q 0 0 0 rg BT 432.62 602.25 Td (Arrangements ) Tj ET Q q 0 0 0 rg BT 492.01 602.25 Td (on ) Tj ET Q q 0 0 0 rg BT 504.76 602.25 Td (our ) Tj ET Q q 0 0 0 rg BT 520.84 602.25 Td (Unaudited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 590.25 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 97.10 590.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 153.04 590.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 188.41 590.25 Td (Sheets, ) Tj ET Q q 0 0 0 rg BT 220.18 590.25 Td (although ) Tj ET Q q 0 0 0 rg BT 258.35 590.25 Td (we ) Tj ET Q q 0 0 0 rg BT 273.17 590.25 Td (expect ) Tj ET Q q 0 0 0 rg BT 302.43 590.25 Td (to ) Tj ET Q q 0 0 0 rg BT 313.37 590.25 Td (invest ) Tj ET Q q 0 0 0 rg BT 340.43 590.25 Td (further ) Tj ET Q q 0 0 0 rg BT 370.80 590.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 407.85 590.25 Td (in ) Tj ET Q q 0 0 0 rg BT 418.79 590.25 Td (these ) Tj ET Q q 0 0 0 rg BT 442.51 590.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 464.01 590.25 Td (venture ) Tj ET Q q 0 0 0 rg BT 497.16 590.25 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 554.19 590.25 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 578.25 Td (development ) Tj ET Q q 0 0 0 rg BT 103.65 578.25 Td (of ) Tj ET Q q 0 0 0 rg BT 114.48 578.25 Td (the ) Tj ET Q q 0 0 0 rg BT 129.20 578.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 171.68 578.25 Td (progresses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 556.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 556.25 Td (e ) Tj ET Q q 0 0 0 rg BT 66.01 556.25 Td (use ) Tj ET Q q 0 0 0 rg BT 82.78 556.25 Td (the ) Tj ET Q q 0 0 0 rg BT 98.43 556.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 126.86 556.25 Td (method ) Tj ET Q q 0 0 0 rg BT 160.29 556.25 Td (of ) Tj ET Q q 0 0 0 rg BT 172.05 556.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 219.36 556.25 Td (for ) Tj ET Q q 0 0 0 rg BT 234.46 556.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 285.66 556.25 Td (in ) Tj ET Q q 0 0 0 rg BT 296.88 556.25 Td (unconsolidated ) Tj ET Q q 0 0 0 rg BT 360.85 556.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 382.63 556.25 Td (ventures ) Tj ET Q q 0 0 0 rg BT 419.94 556.25 Td (over ) Tj ET Q q 0 0 0 rg BT 441.14 556.25 Td (which ) Tj ET Q q 0 0 0 rg BT 469.01 556.25 Td (we ) Tj ET Q q 0 0 0 rg BT 484.11 556.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 520.30 556.25 Td (significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 544.25 Td (influence ) Tj ET Q q 0 0 0 rg BT 88.81 544.25 Td (but ) Tj ET Q q 0 0 0 rg BT 103.70 544.25 Td (do ) Tj ET Q q 0 0 0 rg BT 115.82 544.25 Td (not ) Tj ET Q q 0 0 0 rg BT 130.71 544.25 Td (have ) Tj ET Q q 0 0 0 rg BT 151.69 544.25 Td (a ) Tj ET Q q 0 0 0 rg BT 158.25 544.25 Td (controlling ) Tj ET Q q 0 0 0 rg BT 204.24 544.25 Td (interest. ) Tj ET Q q 0 0 0 rg BT 238.28 544.25 Td ( ) Tj ET Q q 0 0 0 rg BT 240.40 544.25 Td (Under ) Tj ET Q q 0 0 0 rg BT 267.50 544.25 Td (the ) Tj ET Q q 0 0 0 rg BT 281.83 544.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 308.93 544.25 Td (method, ) Tj ET Q q 0 0 0 rg BT 343.54 544.25 Td (our ) Tj ET Q q 0 0 0 rg BT 358.98 544.25 Td (share ) Tj ET Q q 0 0 0 rg BT 382.19 544.25 Td (of ) Tj ET Q q 0 0 0 rg BT 392.63 544.25 Td (the ) Tj ET Q q 0 0 0 rg BT 406.96 544.25 Td (unconsolidated ) Tj ET Q q 0 0 0 rg BT 469.62 544.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 490.06 544.25 Td (ventures) Tj ET Q q 0 0 0 rg BT 526.53 544.25 Td ( ) Tj ET Q q 0 0 0 rg BT 528.64 544.25 Td (earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 532.25 Td (or ) Tj ET Q q 0 0 0 rg BT 59.93 532.25 Td (loss, ) Tj ET Q q 0 0 0 rg BT 80.09 532.25 Td (if ) Tj ET Q q 0 0 0 rg BT 88.29 532.25 Td (any) Tj ET Q q 0 0 0 rg BT 102.08 532.25 Td (, ) Tj ET Q q 0 0 0 rg BT 106.68 532.25 Td (is ) Tj ET Q q 0 0 0 rg BT 115.44 532.25 Td (included ) Tj ET Q q 0 0 0 rg BT 151.98 532.25 Td (in ) Tj ET Q q 0 0 0 rg BT 161.85 532.25 Td (our ) Tj ET Q q 0 0 0 rg BT 177.28 532.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 229.92 532.25 Td (statement ) Tj ET Q q 0 0 0 rg BT 270.33 532.25 Td (of ) Tj ET Q q 0 0 0 rg BT 280.76 532.25 Td (income. ) Tj ET Q q 0 0 0 rg BT 314.79 532.25 Td ( ) Tj ET Q q 0 0 0 rg BT 316.74 532.25 Td (The ) Tj ET Q q 0 0 0 rg BT 334.38 532.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 375.37 532.25 Td (assesses ) Tj ET Q q 0 0 0 rg BT 410.24 532.25 Td (its ) Tj ET Q q 0 0 0 rg BT 421.78 532.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 471.65 532.25 Td (in ) Tj ET Q q 0 0 0 rg BT 481.53 532.25 Td (unconsolidated ) Tj ET Q q 0 0 0 rg BT 544.17 532.25 Td (joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (ventures ) Tj ET Q q 0 0 0 rg BT 85.68 520.25 Td (for ) Tj ET Q q 0 0 0 rg BT 99.65 520.25 Td (recoverability ) Tj ET Q q 0 0 0 rg BT 157.49 520.25 Td (on ) Tj ET Q q 0 0 0 rg BT 169.79 520.25 Td (a ) Tj ET Q q 0 0 0 rg BT 176.54 520.25 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 214.94 520.25 Td (basis. ) Tj ET Q q 0 0 0 rg BT 239.75 520.25 Td ( ) Tj ET Q q 0 0 0 rg BT 242.05 520.25 Td (Please ) Tj ET Q q 0 0 0 rg BT 269.91 520.25 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 284.9833984375 518.9169921875 m 311.72900390625 518.9169921875 l s q 0 0 1 rg BT 284.98 520.25 Td (Note ) Tj ET Q q 0 0 1 rg BT 306.73 520.25 Td (4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 311.73 520.25 Td ( ) Tj ET Q q 0 0 0 rg BT 314.04 520.25 Td (to ) Tj ET Q q 0 0 0 rg BT 324.12 520.25 Td (our ) Tj ET Q q 0 0 0 rg BT 339.76 520.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 377.05 520.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 421.57 520.25 Td (for ) Tj ET Q q 0 0 0 rg BT 435.53 520.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 477.83 520.25 Td (details ) Tj ET Q q 0 0 0 rg BT 506.24 520.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 539.09 520.25 Td (to ) Tj ET Q q 0 0 0 rg BT 549.18 520.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 95.87 508.25 Td (for ) Tj ET Q q 0 0 0 rg BT 110.03 508.25 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 154.18 508.25 Td (our ) Tj ET Q q 0 0 0 rg BT 170.01 508.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 220.28 508.25 Td (for ) Tj ET Q q 0 0 0 rg BT 234.44 508.25 Td (impairment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.25 Td (For ) Tj ET Q q 0 0 0 rg BT 65.97 486.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 86.89 486.25 Td (venture ) Tj ET Q q 0 0 0 rg BT 119.46 486.25 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 175.91 486.25 Td (where ) Tj ET Q q 0 0 0 rg BT 202.92 486.25 Td (a ) Tj ET Q q 0 0 0 rg BT 209.94 486.25 Td (special ) Tj ET Q q 0 0 0 rg BT 240.29 486.25 Td (purpose ) Tj ET Q q 0 0 0 rg BT 274.53 486.25 Td (entity ) Tj ET Q q 0 0 0 rg BT 299.89 486.25 Td (is ) Tj ET Q q 0 0 0 rg BT 309.14 486.25 Td (established ) Tj ET Q q 0 0 0 rg BT 356.16 486.25 Td (to ) Tj ET Q q 0 0 0 rg BT 366.52 486.25 Td (own ) Tj ET Q q 0 0 0 rg BT 386.32 486.25 Td (the ) Tj ET Q q 0 0 0 rg BT 401.12 486.25 Td (property) Tj ET Q q 0 0 0 rg BT 434.35 486.25 Td (, ) Tj ET Q q 0 0 0 rg BT 439.43 486.25 Td (we ) Tj ET Q q 0 0 0 rg BT 453.67 486.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 493.46 486.25 Td (enter ) Tj ET Q q 0 0 0 rg BT 516.03 486.25 Td (into ) Tj ET Q q 0 0 0 rg BT 534.17 486.25 Td (limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 82.90 474.25 Td (company ) Tj ET Q q 0 0 0 rg BT 121.85 474.25 Td (or ) Tj ET Q q 0 0 0 rg BT 132.48 474.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 162.54 474.25 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 218.70 474.25 Td (\(LLCs\) ) Tj ET Q q 0 0 0 rg BT 259.31 474.25 Td (with ) Tj ET Q q 0 0 0 rg BT 279.38 474.25 Td (the ) Tj ET Q q 0 0 0 rg BT 293.89 474.25 Td (other ) Tj ET Q q 0 0 0 rg BT 316.73 474.25 Td (partners. ) Tj ET Q q 0 0 0 rg BT 353.73 474.25 Td ( ) Tj ET Q q 0 0 0 rg BT 355.86 474.25 Td (The ) Tj ET Q q 0 0 0 rg BT 373.70 474.25 Td (Company) Tj ET Q q 0 0 0 rg BT 415.37 474.25 Td (s ) Tj ET Q q 0 0 0 rg BT 421.55 474.25 Td (ownership ) Tj ET Q q 0 0 0 rg BT 465.51 474.25 Td (in ) Tj ET Q q 0 0 0 rg BT 475.58 474.25 Td (these ) Tj ET Q q 0 0 0 rg BT 498.42 474.25 Td (LLCs ) Tj ET Q q 0 0 0 rg BT 523.49 474.25 Td (as ) Tj ET Q q 0 0 0 rg BT 534.12 474.25 Td (of ) Tj ET Q q 0 0 0 rg BT 544.74 474.25 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 85.43 462.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.43 462.25 Td ( ) Tj ET Q q 0 0 0 rg BT 108.04 462.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.08 462.25 Td (December ) Tj ET Q q 0 0 0 rg BT 168.76 462.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 183.87 462.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.87 462.25 Td ( ) Tj ET Q q 0 0 0 rg BT 206.47 462.25 Td (ranged ) Tj ET Q q 0 0 0 rg BT 236.28 462.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.32 462.25 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.65 462.25 Td ( ) Tj ET Q q 0 0 0 rg BT 279.25 462.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.63 462.25 Td (97%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.96 462.25 Td (. ) Tj ET Q q 0 0 0 rg BT 313.06 462.25 Td ( ) Tj ET Q q 0 0 0 rg BT 315.48 462.25 Td (These ) Tj ET Q q 0 0 0 rg BT 341.96 462.25 Td (entities ) Tj ET Q q 0 0 0 rg BT 373.44 462.25 Td (typically ) Tj ET Q q 0 0 0 rg BT 411.04 462.25 Td (engage ) Tj ET Q q 0 0 0 rg BT 441.95 462.25 Td (in ) Tj ET Q q 0 0 0 rg BT 452.33 462.25 Td (land ) Tj ET Q q 0 0 0 rg BT 472.15 462.25 Td (development ) Tj ET Q q 0 0 0 rg BT 526.41 462.25 Td (activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.25 Td (for ) Tj ET Q q 0 0 0 rg BT 63.66 450.25 Td (the ) Tj ET Q q 0 0 0 rg BT 78.38 450.25 Td (purpose ) Tj ET Q q 0 0 0 rg BT 112.54 450.25 Td (of ) Tj ET Q q 0 0 0 rg BT 123.37 450.25 Td (distributing ) Tj ET Q q 0 0 0 rg BT 171.98 450.25 Td (or ) Tj ET Q q 0 0 0 rg BT 182.81 450.25 Td (selling ) Tj ET Q q 0 0 0 rg BT 211.98 450.25 Td (developed ) Tj ET Q q 0 0 0 rg BT 255.57 450.25 Td (lots ) Tj ET Q q 0 0 0 rg BT 272.52 450.25 Td (to ) Tj ET Q q 0 0 0 rg BT 282.80 450.25 Td (the ) Tj ET Q q 0 0 0 rg BT 297.51 450.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 338.90 450.25 Td (and ) Tj ET Q q 0 0 0 rg BT 355.84 450.25 Td (its ) Tj ET Q q 0 0 0 rg BT 367.79 450.25 Td (partners ) Tj ET Q q 0 0 0 rg BT 402.49 450.25 Td (in ) Tj ET Q q 0 0 0 rg BT 412.77 450.25 Td (the ) Tj ET Q q 0 0 0 rg BT 427.49 450.25 Td (LLC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 428.25 Td (V) Tj ET Q q 0 0 0 rg BT 55.06 428.25 Td (ariable ) Tj ET Q q 0 0 0 rg BT 86.45 428.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 120.62 428.25 Td (Entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 406.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.54 406.25 Td (ith ) Tj ET Q q 0 0 0 rg BT 72.45 406.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 104.12 406.25 Td (to ) Tj ET Q q 0 0 0 rg BT 115.25 406.25 Td (our ) Tj ET Q q 0 0 0 rg BT 131.93 406.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 183.06 406.25 Td (in ) Tj ET Q q 0 0 0 rg BT 194.19 406.25 Td (these ) Tj ET Q q 0 0 0 rg BT 218.09 406.25 Td (LLCs, ) Tj ET Q q 0 0 0 rg BT 246.72 406.25 Td (we ) Tj ET Q q 0 0 0 rg BT 261.74 406.25 Td (are ) Tj ET Q q 0 0 0 rg BT 277.30 406.25 Td (required, ) Tj ET Q q 0 0 0 rg BT 316.47 406.25 Td (under ) Tj ET Q q 0 0 0 rg BT 341.85 406.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 364.66 406.25 Td (810-10, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 398.84 406.25 Td (Consolidation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.51 406.25 Td ( ) Tj ET Q q 0 0 0 rg BT 458.87 406.25 Td (\(ASC ) Tj ET Q q 0 0 0 rg BT 489.44 406.25 Td (810\), ) Tj ET Q q 0 0 0 rg BT 518.06 406.25 Td (to ) Tj ET Q q 0 0 0 rg BT 529.20 406.25 Td (evaluate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 394.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 83.06 394.25 Td (or ) Tj ET Q q 0 0 0 rg BT 92.74 394.25 Td (not ) Tj ET Q q 0 0 0 rg BT 106.87 394.25 Td (such ) Tj ET Q q 0 0 0 rg BT 126.55 394.25 Td (entities ) Tj ET Q q 0 0 0 rg BT 156.79 394.25 Td (should ) Tj ET Q q 0 0 0 rg BT 184.81 394.25 Td (be ) Tj ET Q q 0 0 0 rg BT 195.60 394.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 247.49 394.25 Td (into ) Tj ET Q q 0 0 0 rg BT 264.40 394.25 Td (our ) Tj ET Q q 0 0 0 rg BT 279.08 394.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 330.97 394.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 367.31 394.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 413.37 394.25 Td ( ) Tj ET Q q 0 0 0 rg BT 414.62 394.25 Td (W) Tj ET Q q 0 0 0 rg BT 423.26 394.25 Td (e ) Tj ET Q q 0 0 0 rg BT 429.05 394.25 Td (initially ) Tj ET Q q 0 0 0 rg BT 461.51 394.25 Td (perform ) Tj ET Q q 0 0 0 rg BT 495.07 394.25 Td (these ) Tj ET Q q 0 0 0 rg BT 516.97 394.25 Td (evaluations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (when ) Tj ET Q q 0 0 0 rg BT 73.73 382.25 Td (each ) Tj ET Q q 0 0 0 rg BT 94.62 382.25 Td (new ) Tj ET Q q 0 0 0 rg BT 113.86 382.25 Td (entity ) Tj ET Q q 0 0 0 rg BT 139.20 382.25 Td (is ) Tj ET Q q 0 0 0 rg BT 148.45 382.25 Td (created ) Tj ET Q q 0 0 0 rg BT 179.88 382.25 Td (and ) Tj ET Q q 0 0 0 rg BT 196.89 382.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 219.47 382.25 Td (any ) Tj ET Q q 0 0 0 rg BT 236.48 382.25 Td (events ) Tj ET Q q 0 0 0 rg BT 264.60 382.25 Td (that ) Tj ET Q q 0 0 0 rg BT 282.17 382.25 Td (require ) Tj ET Q q 0 0 0 rg BT 313.05 382.25 Td (reconsideration ) Tj ET Q q 0 0 0 rg BT 377.27 382.25 Td (of ) Tj ET Q q 0 0 0 rg BT 388.17 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 402.96 382.25 Td (entity) Tj ET Q q 0 0 0 rg BT 425.09 382.25 Td (. ) Tj ET Q q 0 0 0 rg BT 430.16 382.25 Td ( ) Tj ET Q q 0 0 0 rg BT 432.73 382.25 Td (Please ) Tj ET Q q 0 0 0 rg BT 460.85 382.25 Td (see ) Tj ET Q q 0 0 0 rg BT 476.19 382.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 498.21 382.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 508.28 382.25 Td (Summary ) Tj ET Q q 0 0 0 rg BT 554.18 382.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 370.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 94.58 370.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 142.78 370.25 Td (Policies ) Tj ET Q q 0 0 0 rg BT 175.99 370.25 Td (- ) Tj ET Q q 0 0 0 rg BT 180.75 370.25 Td (V) Tj ET Q q 0 0 0 rg BT 186.87 370.25 Td (ariable ) Tj ET Q q 0 0 0 rg BT 215.61 370.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 247.14 370.25 Td (Entities ) Tj ET Q q 0 0 0 rg BT 283.67 370.25 Td (in ) Tj ET Q q 0 0 0 rg BT 292.99 370.25 Td (the ) Tj ET Q q 0 0 0 rg BT 306.75 370.25 Td (Company) Tj ET Q q 0 0 0 rg BT 348.42 370.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.85 370.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.85 370.25 Td ( ) Tj ET Q q 0 0 0 rg BT 375.40 370.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 398.61 370.25 Td (10-K ) Tj ET Q q 0 0 0 rg BT 420.70 370.25 Td (for ) Tj ET Q q 0 0 0 rg BT 433.91 370.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 475.44 370.25 Td (information ) Tj ET Q q 0 0 0 rg BT 524.19 370.25 Td (regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 358.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 358.25 Td (Company) Tj ET Q q 0 0 0 rg BT 105.88 358.25 Td (s ) Tj ET Q q 0 0 0 rg BT 112.27 358.25 Td (methodology ) Tj ET Q q 0 0 0 rg BT 167.55 358.25 Td (for ) Tj ET Q q 0 0 0 rg BT 181.71 358.25 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 225.86 358.25 Td (entities ) Tj ET Q q 0 0 0 rg BT 257.24 358.25 Td (for ) Tj ET Q q 0 0 0 rg BT 271.40 358.25 Td (consolidation.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 336.25 Td (Land ) Tj ET Q q 0 0 0 rg BT 73.67 336.25 Td (Option ) Tj ET Q q 0 0 0 rg BT 104.14 336.25 Td (Agreements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 314.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.20 314.25 Td (the ) Tj ET Q q 0 0 0 rg BT 74.78 314.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 111.02 314.25 Td (course ) Tj ET Q q 0 0 0 rg BT 139.49 314.25 Td (of ) Tj ET Q q 0 0 0 rg BT 150.18 314.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 188.94 314.25 Td (the ) Tj ET Q q 0 0 0 rg BT 203.52 314.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 244.77 314.25 Td (enters ) Tj ET Q q 0 0 0 rg BT 271.02 314.25 Td (into ) Tj ET Q q 0 0 0 rg BT 288.94 314.25 Td (land ) Tj ET Q q 0 0 0 rg BT 308.52 314.25 Td (option ) Tj ET Q q 0 0 0 rg BT 336.44 314.25 Td (or ) Tj ET Q q 0 0 0 rg BT 347.14 314.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 385.04 314.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 432.94 314.25 Td (for ) Tj ET Q q 0 0 0 rg BT 446.97 314.25 Td (which ) Tj ET Q q 0 0 0 rg BT 473.77 314.25 Td (we ) Tj ET Q q 0 0 0 rg BT 487.80 314.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 527.36 314.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 544.17 314.25 Td (non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 302.25 Td (refundable ) Tj ET Q q 0 0 0 rg BT 94.70 302.25 Td (deposits. ) Tj ET Q q 0 0 0 rg BT 132.42 302.25 Td ( ) Tj ET Q q 0 0 0 rg BT 134.87 302.25 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 172.31 302.25 Td (to ) Tj ET Q q 0 0 0 rg BT 182.54 302.25 Td (these ) Tj ET Q q 0 0 0 rg BT 205.53 302.25 Td (land ) Tj ET Q q 0 0 0 rg BT 225.19 302.25 Td (option ) Tj ET Q q 0 0 0 rg BT 253.19 302.25 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 303.67 302.25 Td (the ) Tj ET Q q 0 0 0 rg BT 318.33 302.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 359.67 302.25 Td (provides ) Tj ET Q q 0 0 0 rg BT 396.55 302.25 Td (a ) Tj ET Q q 0 0 0 rg BT 403.43 302.25 Td (deposit ) Tj ET Q q 0 0 0 rg BT 434.76 302.25 Td (to ) Tj ET Q q 0 0 0 rg BT 444.99 302.25 Td (the ) Tj ET Q q 0 0 0 rg BT 459.65 302.25 Td (seller ) Tj ET Q q 0 0 0 rg BT 483.75 302.25 Td (as ) Tj ET Q q 0 0 0 rg BT 494.53 302.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 550.84 302.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 290.25 Td (the ) Tj ET Q q 0 0 0 rg BT 63.59 290.25 Td (right ) Tj ET Q q 0 0 0 rg BT 84.35 290.25 Td (to ) Tj ET Q q 0 0 0 rg BT 94.00 290.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 131.42 290.25 Td (land ) Tj ET Q q 0 0 0 rg BT 150.51 290.25 Td (at ) Tj ET Q q 0 0 0 rg BT 159.60 290.25 Td (dif) Tj ET Q q 0 0 0 rg BT 170.52 290.25 Td (ferent ) Tj ET Q q 0 0 0 rg BT 195.71 290.25 Td (times ) Tj ET Q q 0 0 0 rg BT 219.25 290.25 Td (in ) Tj ET Q q 0 0 0 rg BT 228.91 290.25 Td (the ) Tj ET Q q 0 0 0 rg BT 243.00 290.25 Td (future, ) Tj ET Q q 0 0 0 rg BT 271.25 290.25 Td (usually ) Tj ET Q q 0 0 0 rg BT 302.01 290.25 Td (at ) Tj ET Q q 0 0 0 rg BT 311.10 290.25 Td (predetermined ) Tj ET Q q 0 0 0 rg BT 370.72 290.25 Td (prices. ) Tj ET Q q 0 0 0 rg BT 401.47 290.25 Td (In ) Tj ET Q q 0 0 0 rg BT 411.68 290.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 458.51 290.25 Td (with ) Tj ET Q q 0 0 0 rg BT 477.75 290.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 499.08 290.25 Td (810, ) Tj ET Q q 0 0 0 rg BT 518.45 290.25 Td (we ) Tj ET Q q 0 0 0 rg BT 531.99 290.25 Td (analyze ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 278.25 Td (our ) Tj ET Q q 0 0 0 rg BT 64.98 278.25 Td (land ) Tj ET Q q 0 0 0 rg BT 84.35 278.25 Td (option ) Tj ET Q q 0 0 0 rg BT 112.05 278.25 Td (or ) Tj ET Q q 0 0 0 rg BT 122.53 278.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 160.22 278.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 207.90 278.25 Td (to ) Tj ET Q q 0 0 0 rg BT 217.83 278.25 Td (determine ) Tj ET Q q 0 0 0 rg BT 259.96 278.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 294.32 278.25 Td (the ) Tj ET Q q 0 0 0 rg BT 308.68 278.25 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 368.04 278.25 Td (land ) Tj ET Q q 0 0 0 rg BT 387.41 278.25 Td (sellers ) Tj ET Q q 0 0 0 rg BT 415.10 278.25 Td (are ) Tj ET Q q 0 0 0 rg BT 429.46 278.25 Td (variable ) Tj ET Q q 0 0 0 rg BT 463.81 278.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 495.40 278.25 Td (entities ) Tj ET Q q 0 0 0 rg BT 526.43 278.25 Td (\(VIEs\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 266.25 Td (and, ) Tj ET Q q 0 0 0 rg BT 69.07 266.25 Td (if ) Tj ET Q q 0 0 0 rg BT 77.81 266.25 Td (so, ) Tj ET Q q 0 0 0 rg BT 91.83 266.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 126.66 266.25 Td (we ) Tj ET Q q 0 0 0 rg BT 140.95 266.25 Td (are ) Tj ET Q q 0 0 0 rg BT 155.79 266.25 Td (the ) Tj ET Q q 0 0 0 rg BT 170.64 266.25 Td (primary ) Tj ET Q q 0 0 0 rg BT 204.92 266.25 Td (beneficiary) Tj ET Q q 0 0 0 rg BT 249.24 266.25 Td (, ) Tj ET Q q 0 0 0 rg BT 254.37 266.25 Td (as ) Tj ET Q q 0 0 0 rg BT 265.33 266.25 Td (further ) Tj ET Q q 0 0 0 rg BT 295.17 266.25 Td (described ) Tj ET Q q 0 0 0 rg BT 336.11 266.25 Td (in ) Tj ET Q q 0 0 0 rg BT 346.52 266.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 368.59 266.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 378.72 266.25 Td (Summary ) Tj ET Q q 0 0 0 rg BT 424.67 266.25 Td (of ) Tj ET Q q 0 0 0 rg BT 435.63 266.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 481.56 266.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 530.85 266.25 Td (Policies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 254.25 Td (- ) Tj ET Q q 0 0 0 rg BT 55.44 254.25 Td (Land ) Tj ET Q q 0 0 0 rg BT 78.60 254.25 Td (Option ) Tj ET Q q 0 0 0 rg BT 108.41 254.25 Td (Agreements ) Tj ET Q q 0 0 0 rg BT 163.78 254.25 Td (in ) Tj ET Q q 0 0 0 rg BT 174.17 254.25 Td (the ) Tj ET Q q 0 0 0 rg BT 189.00 254.25 Td (Company) Tj ET Q q 0 0 0 rg BT 230.66 254.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.16 254.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.16 254.25 Td ( ) Tj ET Q q 0 0 0 rg BT 259.77 254.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 284.06 254.25 Td (10-K. ) Tj ET Q q 0 0 0 rg BT 309.72 254.25 Td ( ) Tj ET Q q 0 0 0 rg BT 312.33 254.25 Td (If ) Tj ET Q q 0 0 0 rg BT 321.60 254.25 Td (we ) Tj ET Q q 0 0 0 rg BT 335.87 254.25 Td (are ) Tj ET Q q 0 0 0 rg BT 350.69 254.25 Td (deemed ) Tj ET Q q 0 0 0 rg BT 384.40 254.25 Td (to ) Tj ET Q q 0 0 0 rg BT 394.79 254.25 Td (be ) Tj ET Q q 0 0 0 rg BT 406.84 254.25 Td (the ) Tj ET Q q 0 0 0 rg BT 421.66 254.25 Td (primary ) Tj ET Q q 0 0 0 rg BT 455.93 254.25 Td (beneficiary ) Tj ET Q q 0 0 0 rg BT 503.51 254.25 Td (of ) Tj ET Q q 0 0 0 rg BT 514.45 254.25 Td (the ) Tj ET Q q 0 0 0 rg BT 529.09 254.25 Td (VIE, ) Tj ET Q q 0 0 0 rg BT 550.87 254.25 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 242.25 Td (will ) Tj ET Q q 0 0 0 rg BT 66.63 242.25 Td (consolidate ) Tj ET Q q 0 0 0 rg BT 113.74 242.25 Td (the ) Tj ET Q q 0 0 0 rg BT 127.41 242.25 Td (VIE ) Tj ET Q q 0 0 0 rg BT 145.64 242.25 Td (in ) Tj ET Q q 0 0 0 rg BT 154.99 242.25 Td (our ) Tj ET Q q 0 0 0 rg BT 169.89 242.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 222.00 242.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 258.55 242.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 302.33 242.25 Td (and ) Tj ET Q q 0 0 0 rg BT 318.34 242.25 Td (reflect ) Tj ET Q q 0 0 0 rg BT 345.44 242.25 Td (such ) Tj ET Q q 0 0 0 rg BT 365.34 242.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 390.24 242.25 Td (and ) Tj ET Q q 0 0 0 rg BT 406.25 242.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 445.04 242.25 Td (in ) Tj ET Q q 0 0 0 rg BT 454.39 242.25 Td (our ) Tj ET Q q 0 0 0 rg BT 469.29 242.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 523.63 242.25 Td (Inventory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 230.25 Td (not ) Tj ET Q q 0 0 0 rg BT 63.67 230.25 Td (Owned ) Tj ET Q q 0 0 0 rg BT 93.95 230.25 Td (in ) Tj ET Q q 0 0 0 rg BT 103.12 230.25 Td (our ) Tj ET Q q 0 0 0 rg BT 117.84 230.25 Td (Unaudited ) Tj ET Q q 0 0 0 rg BT 160.89 230.25 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 206.73 230.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 260.89 230.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 294.49 230.25 Td (Sheets. ) Tj ET Q q 0 0 0 rg BT 324.49 230.25 Td ( ) Tj ET Q q 0 0 0 rg BT 325.58 230.25 Td (At ) Tj ET Q q 0 0 0 rg BT 336.97 230.25 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 230.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 390.87 230.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.87 230.25 Td ( ) Tj ET Q q 0 0 0 rg BT 412.26 230.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.10 230.25 Td (December ) Tj ET Q q 0 0 0 rg BT 470.57 230.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 484.47 230.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.47 230.25 Td (, ) Tj ET Q q 0 0 0 rg BT 508.36 230.25 Td (we ) Tj ET Q q 0 0 0 rg BT 521.42 230.25 Td (concluded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 218.25 Td (that ) Tj ET Q q 0 0 0 rg BT 67.00 218.25 Td (we ) Tj ET Q q 0 0 0 rg BT 81.16 218.25 Td (were ) Tj ET Q q 0 0 0 rg BT 103.08 218.25 Td (not ) Tj ET Q q 0 0 0 rg BT 118.36 218.25 Td (the ) Tj ET Q q 0 0 0 rg BT 133.08 218.25 Td (primary ) Tj ET Q q 0 0 0 rg BT 167.23 218.25 Td (beneficiary ) Tj ET Q q 0 0 0 rg BT 214.71 218.25 Td (of ) Tj ET Q q 0 0 0 rg BT 225.54 218.25 Td (any ) Tj ET Q q 0 0 0 rg BT 242.29 218.25 Td (VIEs ) Tj ET Q q 0 0 0 rg BT 265.34 218.25 Td (from ) Tj ET Q q 0 0 0 rg BT 287.28 218.25 Td (which ) Tj ET Q q 0 0 0 rg BT 314.22 218.25 Td (we ) Tj ET Q q 0 0 0 rg BT 328.38 218.25 Td (are ) Tj ET Q q 0 0 0 rg BT 343.09 218.25 Td (purchasing ) Tj ET Q q 0 0 0 rg BT 389.47 218.25 Td (land ) Tj ET Q q 0 0 0 rg BT 409.18 218.25 Td (under ) Tj ET Q q 0 0 0 rg BT 434.45 218.25 Td (option ) Tj ET Q q 0 0 0 rg BT 462.51 218.25 Td (or ) Tj ET Q q 0 0 0 rg BT 473.34 218.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 511.38 218.25 Td (agreements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 196.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.34 196.25 Td (4. ) Tj ET Q q 0 0 0 rg BT 90.34 196.25 Td (Fair) Tj ET Q q 0 0 0 rg BT 108.48 196.25 Td ( ) Tj ET Q q 0 0 0 rg BT 110.80 196.25 Td (V) Tj ET Q q 0 0 0 rg BT 117.11 196.25 Td (alue ) Tj ET Q q 0 0 0 rg BT 137.39 196.25 Td (Measur) Tj ET Q q 0 0 0 rg BT 169.97 196.25 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.25 Td (There ) Tj ET Q q 0 0 0 rg BT 75.82 174.25 Td (are ) Tj ET Q q 0 0 0 rg BT 91.04 174.25 Td (three ) Tj ET Q q 0 0 0 rg BT 114.03 174.25 Td (measurement ) Tj ET Q q 0 0 0 rg BT 170.35 174.25 Td (input ) Tj ET Q q 0 0 0 rg BT 193.91 174.25 Td (levels ) Tj ET Q q 0 0 0 rg BT 220.25 174.25 Td (for ) Tj ET Q q 0 0 0 rg BT 234.92 174.25 Td (determining ) Tj ET Q q 0 0 0 rg BT 286.24 174.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 303.13 174.25 Td (value: ) Tj ET Q q 0 0 0 rg BT 330.57 174.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 356.34 174.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 366.85 174.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 392.62 174.25 Td (2, ) Tj ET Q q 0 0 0 rg BT 403.13 174.25 Td (and ) Tj ET Q q 0 0 0 rg BT 420.57 174.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 446.35 174.25 Td (3. ) Tj ET Q q 0 0 0 rg BT 456.85 174.25 Td (Fair ) Tj ET Q q 0 0 0 rg BT 475.97 174.25 Td (values ) Tj ET Q q 0 0 0 rg BT 504.52 174.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 552.51 174.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 74.81 162.25 Td (1 ) Tj ET Q q 0 0 0 rg BT 82.35 162.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 109.34 162.25 Td (utilize ) Tj ET Q q 0 0 0 rg BT 136.88 162.25 Td (quoted ) Tj ET Q q 0 0 0 rg BT 166.64 162.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 193.06 162.25 Td (in ) Tj ET Q q 0 0 0 rg BT 203.38 162.25 Td (active ) Tj ET Q q 0 0 0 rg BT 229.80 162.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 264.00 162.25 Td (for ) Tj ET Q q 0 0 0 rg BT 278.20 162.25 Td (identical ) Tj ET Q q 0 0 0 rg BT 315.17 162.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 341.05 162.25 Td (or ) Tj ET Q q 0 0 0 rg BT 351.92 162.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 391.68 162.25 Td (that ) Tj ET Q q 0 0 0 rg BT 409.22 162.25 Td (the ) Tj ET Q q 0 0 0 rg BT 423.98 162.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 465.41 162.25 Td (has ) Tj ET Q q 0 0 0 rg BT 481.29 162.25 Td (the ) Tj ET Q q 0 0 0 rg BT 496.05 162.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 524.14 162.25 Td (to ) Tj ET Q q 0 0 0 rg BT 534.47 162.25 Td (access. ) Tj ET Q q 0 0 0 rg BT 565.00 162.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.25 Td (Fair ) Tj ET Q q 0 0 0 rg BT 68.54 150.25 Td (values ) Tj ET Q q 0 0 0 rg BT 97.01 150.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 144.92 150.25 Td (by ) Tj ET Q q 0 0 0 rg BT 157.85 150.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 183.54 150.25 Td (2 ) Tj ET Q q 0 0 0 rg BT 191.47 150.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 218.85 150.25 Td (utilize ) Tj ET Q q 0 0 0 rg BT 246.77 150.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 274.14 150.25 Td (other ) Tj ET Q q 0 0 0 rg BT 297.62 150.25 Td (than ) Tj ET Q q 0 0 0 rg BT 317.77 150.25 Td (quoted ) Tj ET Q q 0 0 0 rg BT 347.91 150.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 374.72 150.25 Td (included ) Tj ET Q q 0 0 0 rg BT 412.08 150.25 Td (in ) Tj ET Q q 0 0 0 rg BT 422.79 150.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 448.48 150.25 Td (1 ) Tj ET Q q 0 0 0 rg BT 456.41 150.25 Td (that ) Tj ET Q q 0 0 0 rg BT 474.33 150.25 Td (are ) Tj ET Q q 0 0 0 rg BT 489.47 150.25 Td (observable ) Tj ET Q q 0 0 0 rg BT 535.71 150.25 Td (for ) Tj ET Q q 0 0 0 rg BT 550.30 150.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 70.72 138.25 Td (or ) Tj ET Q q 0 0 0 rg BT 80.84 138.25 Td (liability) Tj ET Q q 0 0 0 rg BT 111.30 138.25 Td (, ) Tj ET Q q 0 0 0 rg BT 115.59 138.25 Td (either ) Tj ET Q q 0 0 0 rg BT 140.14 138.25 Td (directly ) Tj ET Q q 0 0 0 rg BT 172.46 138.25 Td (or ) Tj ET Q q 0 0 0 rg BT 182.58 138.25 Td (indirectly) Tj ET Q q 0 0 0 rg BT 220.25 138.25 Td (. ) Tj ET Q q 0 0 0 rg BT 224.54 138.25 Td ( ) Tj ET Q q 0 0 0 rg BT 226.32 138.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 250.87 138.25 Td (2 ) Tj ET Q q 0 0 0 rg BT 257.66 138.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 283.89 138.25 Td (include ) Tj ET Q q 0 0 0 rg BT 315.11 138.25 Td (quoted ) Tj ET Q q 0 0 0 rg BT 344.12 138.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 369.78 138.25 Td (for ) Tj ET Q q 0 0 0 rg BT 383.23 138.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 412.79 138.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 437.90 138.25 Td (and ) Tj ET Q q 0 0 0 rg BT 454.13 138.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 493.13 138.25 Td (in ) Tj ET Q q 0 0 0 rg BT 502.69 138.25 Td (active ) Tj ET Q q 0 0 0 rg BT 528.35 138.25 Td (markets, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.25 Td (and ) Tj ET Q q 0 0 0 rg BT 67.00 126.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 94.52 126.25 Td (other ) Tj ET Q q 0 0 0 rg BT 118.13 126.25 Td (than ) Tj ET Q q 0 0 0 rg BT 138.41 126.25 Td (quoted ) Tj ET Q q 0 0 0 rg BT 168.69 126.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 195.64 126.25 Td (that ) Tj ET Q q 0 0 0 rg BT 213.70 126.25 Td (are ) Tj ET Q q 0 0 0 rg BT 228.97 126.25 Td (observable ) Tj ET Q q 0 0 0 rg BT 275.35 126.25 Td (for ) Tj ET Q q 0 0 0 rg BT 290.08 126.25 Td (the ) Tj ET Q q 0 0 0 rg BT 305.36 126.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 327.86 126.25 Td (or ) Tj ET Q q 0 0 0 rg BT 339.26 126.25 Td (liability) Tj ET Q q 0 0 0 rg BT 369.72 126.25 Td (, ) Tj ET Q q 0 0 0 rg BT 375.28 126.25 Td (such ) Tj ET Q q 0 0 0 rg BT 396.68 126.25 Td (as ) Tj ET Q q 0 0 0 rg BT 408.07 126.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 440.57 126.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 462.51 126.25 Td (and ) Tj ET Q q 0 0 0 rg BT 480.02 126.25 Td (yield ) Tj ET Q q 0 0 0 rg BT 503.08 126.25 Td (curves ) Tj ET Q q 0 0 0 rg BT 532.24 126.25 Td (that ) Tj ET Q q 0 0 0 rg BT 550.30 126.25 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.25 Td (observable ) Tj ET Q q 0 0 0 rg BT 95.27 114.25 Td (at ) Tj ET Q q 0 0 0 rg BT 104.93 114.25 Td (commonly ) Tj ET Q q 0 0 0 rg BT 150.16 114.25 Td (quoted ) Tj ET Q q 0 0 0 rg BT 179.82 114.25 Td (intervals. ) Tj ET Q q 0 0 0 rg BT 219.21 114.25 Td ( ) Tj ET Q q 0 0 0 rg BT 221.66 114.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 246.87 114.25 Td (3 ) Tj ET Q q 0 0 0 rg BT 254.32 114.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 281.22 114.25 Td (are ) Tj ET Q q 0 0 0 rg BT 295.88 114.25 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 351.64 114.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 378.54 114.25 Td (for ) Tj ET Q q 0 0 0 rg BT 392.65 114.25 Td (the ) Tj ET Q q 0 0 0 rg BT 407.32 114.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 429.21 114.25 Td (or ) Tj ET Q q 0 0 0 rg BT 439.99 114.25 Td (liability) Tj ET Q q 0 0 0 rg BT 470.45 114.25 Td (, ) Tj ET Q q 0 0 0 rg BT 475.40 114.25 Td (and ) Tj ET Q q 0 0 0 rg BT 492.29 114.25 Td (include ) Tj ET Q q 0 0 0 rg BT 524.17 114.25 Td (situations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.25 Td (where ) Tj ET Q q 0 0 0 rg BT 76.43 102.25 Td (there ) Tj ET Q q 0 0 0 rg BT 98.91 102.25 Td (is ) Tj ET Q q 0 0 0 rg BT 108.08 102.25 Td (little, ) Tj ET Q q 0 0 0 rg BT 131.41 102.25 Td (if ) Tj ET Q q 0 0 0 rg BT 140.02 102.25 Td (any) Tj ET Q q 0 0 0 rg BT 153.81 102.25 Td (, ) Tj ET Q q 0 0 0 rg BT 158.81 102.25 Td (market ) Tj ET Q q 0 0 0 rg BT 189.08 102.25 Td (activity ) Tj ET Q q 0 0 0 rg BT 221.57 102.25 Td (for ) Tj ET Q q 0 0 0 rg BT 235.73 102.25 Td (the ) Tj ET Q q 0 0 0 rg BT 250.44 102.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 272.38 102.25 Td (or ) Tj ET Q q 0 0 0 rg BT 283.21 102.25 Td (liability) Tj ET Q q 0 0 0 rg BT 313.67 102.25 Td (.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (13) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (Assets ) Tj ET Q q 0 0 0 rg BT 77.56 740.25 Td (Measured ) Tj ET Q q 0 0 0 rg BT 121.17 740.25 Td (on ) Tj ET Q q 0 0 0 rg BT 134.24 740.25 Td (a ) Tj ET Q q 0 0 0 rg BT 141.74 740.25 Td (Recurring ) Tj ET Q q 0 0 0 rg BT 186.47 740.25 Td (Basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.27 718.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.39 718.25 Td (measures ) Tj ET Q q 0 0 0 rg BT 147.82 718.25 Td (both ) Tj ET Q q 0 0 0 rg BT 167.83 718.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 207.82 718.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 231.16 718.25 Td (held ) Tj ET Q q 0 0 0 rg BT 250.60 718.25 Td (for ) Tj ET Q q 0 0 0 rg BT 264.49 718.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 282.27 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 298.93 718.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 330.60 718.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 347.81 718.25 Td (lock ) Tj ET Q q 0 0 0 rg BT 367.25 718.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 423.92 718.25 Td (\(IRLCs\) ) Tj ET Q q 0 0 0 rg BT 468.35 718.25 Td (at ) Tj ET Q q 0 0 0 rg BT 477.80 718.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 493.90 718.25 Td (value. ) Tj ET Q q 0 0 0 rg BT 520.29 718.25 Td ( ) Tj ET Q q 0 0 0 rg BT 522.52 718.25 Td (Fair ) Tj ET Q q 0 0 0 rg BT 540.85 718.25 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (measurement ) Tj ET Q q 0 0 0 rg BT 106.25 706.25 Td (results ) Tj ET Q q 0 0 0 rg BT 135.79 706.25 Td (in ) Tj ET Q q 0 0 0 rg BT 147.01 706.25 Td (a ) Tj ET Q q 0 0 0 rg BT 154.88 706.25 Td (better ) Tj ET Q q 0 0 0 rg BT 181.08 706.25 Td (presentation ) Tj ET Q q 0 0 0 rg BT 233.39 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 245.16 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 260.81 706.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 296.45 706.25 Td (in ) Tj ET Q q 0 0 0 rg BT 307.67 706.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 324.98 706.25 Td (values ) Tj ET Q q 0 0 0 rg BT 353.97 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 365.73 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 381.39 706.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 405.93 706.25 Td (and ) Tj ET Q q 0 0 0 rg BT 423.81 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 439.46 706.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 482.88 706.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 532.98 706.25 Td (used ) Tj ET Q q 0 0 0 rg BT 554.74 706.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (economically ) Tj ET Q q 0 0 0 rg BT 105.87 694.25 Td (hedge ) Tj ET Q q 0 0 0 rg BT 132.24 694.25 Td (them.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.58 672.25 Td (the ) Tj ET Q q 0 0 0 rg BT 75.55 672.25 Td (normal ) Tj ET Q q 0 0 0 rg BT 106.63 672.25 Td (course ) Tj ET Q q 0 0 0 rg BT 135.48 672.25 Td (of ) Tj ET Q q 0 0 0 rg BT 146.57 672.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 185.71 672.25 Td (our ) Tj ET Q q 0 0 0 rg BT 201.79 672.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 239.53 672.25 Td (services ) Tj ET Q q 0 0 0 rg BT 274.49 672.25 Td (segment ) Tj ET Q q 0 0 0 rg BT 310.56 672.25 Td (enters ) Tj ET Q q 0 0 0 rg BT 337.19 672.25 Td (into ) Tj ET Q q 0 0 0 rg BT 355.50 672.25 Td (contractual ) Tj ET Q q 0 0 0 rg BT 402.68 672.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 459.87 672.25 Td (to ) Tj ET Q q 0 0 0 rg BT 470.40 672.25 Td (extend ) Tj ET Q q 0 0 0 rg BT 499.81 672.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 525.32 672.25 Td (to ) Tj ET Q q 0 0 0 rg BT 535.85 672.25 Td (buyers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 660.25 Td (of ) Tj ET Q q 0 0 0 rg BT 59.86 660.25 Td (single-family ) Tj ET Q q 0 0 0 rg BT 115.22 660.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 143.36 660.25 Td (with ) Tj ET Q q 0 0 0 rg BT 163.17 660.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 185.75 660.25 Td (expiration ) Tj ET Q q 0 0 0 rg BT 228.32 660.25 Td (dates.) Tj ET Q q 0 0 0 rg BT 256.19 660.25 Td (The ) Tj ET Q q 0 0 0 rg BT 273.77 660.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 330.24 660.25 Td (become ) Tj ET Q q 0 0 0 rg BT 363.37 660.25 Td (ef) Tj ET Q q 0 0 0 rg BT 370.95 660.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 400.19 660.25 Td (when ) Tj ET Q q 0 0 0 rg BT 423.88 660.25 Td (the ) Tj ET Q q 0 0 0 rg BT 438.13 660.25 Td (borrowers ) Tj ET Q q 0 0 0 rg BT 480.71 660.25 Td (lock-in ) Tj ET Q q 0 0 0 rg BT 519.94 660.25 Td (a ) Tj ET Q q 0 0 0 rg BT 526.41 660.25 Td (specified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 648.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 81.35 648.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 98.75 648.25 Td (within ) Tj ET Q q 0 0 0 rg BT 126.72 648.25 Td (established ) Tj ET Q q 0 0 0 rg BT 173.57 648.25 Td (time ) Tj ET Q q 0 0 0 rg BT 193.76 648.25 Td (frames.Market ) Tj ET Q q 0 0 0 rg BT 259.75 648.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 277.17 648.25 Td (arises ) Tj ET Q q 0 0 0 rg BT 302.35 648.25 Td (if ) Tj ET Q q 0 0 0 rg BT 310.87 648.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 342.72 648.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 364.01 648.25 Td (move ) Tj ET Q q 0 0 0 rg BT 388.65 648.25 Td (adversely ) Tj ET Q q 0 0 0 rg BT 429.38 648.25 Td (between ) Tj ET Q q 0 0 0 rg BT 465.11 648.25 Td (the ) Tj ET Q q 0 0 0 rg BT 479.74 648.25 Td (time ) Tj ET Q q 0 0 0 rg BT 499.92 648.25 Td (of ) Tj ET Q q 0 0 0 rg BT 510.67 648.25 Td (the ) Tj ET Q q 0 0 0 rg BT 525.30 648.25 Td (lock-in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 636.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.98 636.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 83.01 636.25 Td (by ) Tj ET Q q 0 0 0 rg BT 96.16 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 111.53 636.25 Td (borrower ) Tj ET Q q 0 0 0 rg BT 151.33 636.25 Td (and ) Tj ET Q q 0 0 0 rg BT 168.92 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 184.29 636.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 202.99 636.25 Td (date ) Tj ET Q q 0 0 0 rg BT 222.80 636.25 Td (of ) Tj ET Q q 0 0 0 rg BT 234.28 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 249.65 636.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 270.02 636.25 Td (to ) Tj ET Q q 0 0 0 rg BT 280.95 636.25 Td (an ) Tj ET Q q 0 0 0 rg BT 293.54 636.25 Td (investor) Tj ET Q q 0 0 0 rg BT 325.20 636.25 Td (.) Tj ET Q q 0 0 0 rg BT 332.52 636.25 Td (T) Tj ET Q q 0 0 0 rg BT 337.93 636.25 Td (o ) Tj ET Q q 0 0 0 rg BT 346.08 636.25 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 382.00 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 397.37 636.25 Td (ef) Tj ET Q q 0 0 0 rg BT 404.96 636.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 423.10 636.25 Td (of ) Tj ET Q q 0 0 0 rg BT 434.58 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 449.95 636.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 482.53 636.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 500.67 636.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 518.82 636.25 Td (inherent ) Tj ET Q q 0 0 0 rg BT 554.74 636.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 624.25 Td (providing ) Tj ET Q q 0 0 0 rg BT 90.65 624.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 107.89 624.25 Td (lock ) Tj ET Q q 0 0 0 rg BT 127.37 624.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 184.07 624.25 Td (to ) Tj ET Q q 0 0 0 rg BT 194.10 624.25 Td (borrowers, ) Tj ET Q q 0 0 0 rg BT 239.41 624.25 Td (the ) Tj ET Q q 0 0 0 rg BT 253.88 624.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 295.03 624.25 Td (enters ) Tj ET Q q 0 0 0 rg BT 321.17 624.25 Td (into ) Tj ET Q q 0 0 0 rg BT 338.98 624.25 Td (optional ) Tj ET Q q 0 0 0 rg BT 374.02 624.25 Td (or ) Tj ET Q q 0 0 0 rg BT 384.61 624.25 Td (mandatory ) Tj ET Q q 0 0 0 rg BT 429.63 624.25 Td (delivery ) Tj ET Q q 0 0 0 rg BT 464.65 624.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 498.56 624.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 516.37 624.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 554.72 624.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 612.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 66.18 612.25 Td (whole ) Tj ET Q q 0 0 0 rg BT 93.42 612.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 117.33 612.25 Td (and ) Tj ET Q q 0 0 0 rg BT 134.56 612.25 Td (mortgage-backed ) Tj ET Q q 0 0 0 rg BT 206.77 612.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 247.33 612.25 Td (to ) Tj ET Q q 0 0 0 rg BT 257.91 612.25 Td (broker/dealers.) Tj ET Q q 0 0 0 rg BT 322.42 612.25 Td (The ) Tj ET Q q 0 0 0 rg BT 340.76 612.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 375.21 612.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 393.56 612.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 432.45 612.25 Td (lock ) Tj ET Q q 0 0 0 rg BT 452.46 612.25 Td (in ) Tj ET Q q 0 0 0 rg BT 463.04 612.25 Td (an ) Tj ET Q q 0 0 0 rg BT 475.28 612.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 507.51 612.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 525.29 612.25 Td (and ) Tj ET Q q 0 0 0 rg BT 542.53 612.25 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 600.25 Td (for ) Tj ET Q q 0 0 0 rg BT 64.74 600.25 Td (the ) Tj ET Q q 0 0 0 rg BT 80.54 600.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 99.67 600.25 Td (of ) Tj ET Q q 0 0 0 rg BT 111.58 600.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 136.27 600.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 167.63 600.25 Td (to ) Tj ET Q q 0 0 0 rg BT 178.98 600.25 Td (the ) Tj ET Q q 0 0 0 rg BT 194.78 600.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 229.46 600.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 248.03 600.25 Td (lock ) Tj ET Q q 0 0 0 rg BT 268.82 600.25 Td (commitments.) Tj ET Q q 0 0 0 rg BT 330.58 600.25 Td (The ) Tj ET Q q 0 0 0 rg BT 349.71 600.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 392.18 600.25 Td (does ) Tj ET Q q 0 0 0 rg BT 414.09 600.25 Td (not ) Tj ET Q q 0 0 0 rg BT 430.45 600.25 Td (engage ) Tj ET Q q 0 0 0 rg BT 462.35 600.25 Td (in ) Tj ET Q q 0 0 0 rg BT 473.71 600.25 Td (speculative ) Tj ET Q q 0 0 0 rg BT 522.27 600.25 Td (trading ) Tj ET Q q 0 0 0 rg BT 554.18 600.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 588.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 92.20 588.25 Td (activities.Both ) Tj ET Q q 0 0 0 rg BT 157.96 588.25 Td (the ) Tj ET Q q 0 0 0 rg BT 172.89 588.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 190.59 588.25 Td (lock ) Tj ET Q q 0 0 0 rg BT 210.52 588.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 267.67 588.25 Td (to ) Tj ET Q q 0 0 0 rg BT 278.17 588.25 Td (borrowers ) Tj ET Q q 0 0 0 rg BT 321.42 588.25 Td (and ) Tj ET Q q 0 0 0 rg BT 338.58 588.25 Td (the ) Tj ET Q q 0 0 0 rg BT 353.51 588.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 387.87 588.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 406.14 588.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 444.94 588.25 Td (to ) Tj ET Q q 0 0 0 rg BT 455.44 588.25 Td (broker/dealers ) Tj ET Q q 0 0 0 rg BT 515.34 588.25 Td (or ) Tj ET Q q 0 0 0 rg BT 526.39 588.25 Td (investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 576.25 Td (are ) Tj ET Q q 0 0 0 rg BT 63.77 576.25 Td (undesignated ) Tj ET Q q 0 0 0 rg BT 118.60 576.25 Td (derivatives, ) Tj ET Q q 0 0 0 rg BT 167.04 576.25 Td (and ) Tj ET Q q 0 0 0 rg BT 183.54 576.25 Td (accordingly) Tj ET Q q 0 0 0 rg BT 230.09 576.25 Td (, ) Tj ET Q q 0 0 0 rg BT 234.66 576.25 Td (are ) Tj ET Q q 0 0 0 rg BT 248.93 576.25 Td (marked ) Tj ET Q q 0 0 0 rg BT 280.98 576.25 Td (to ) Tj ET Q q 0 0 0 rg BT 290.82 576.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 306.76 576.25 Td (value ) Tj ET Q q 0 0 0 rg BT 330.48 576.25 Td (through ) Tj ET Q q 0 0 0 rg BT 363.65 576.25 Td (earnings.Changes ) Tj ET Q q 0 0 0 rg BT 441.53 576.25 Td (in ) Tj ET Q q 0 0 0 rg BT 451.38 576.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 467.32 576.25 Td (value ) Tj ET Q q 0 0 0 rg BT 491.04 576.25 Td (measurements ) Tj ET Q q 0 0 0 rg BT 550.30 576.25 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 564.25 Td (included ) Tj ET Q q 0 0 0 rg BT 86.43 564.25 Td (in ) Tj ET Q q 0 0 0 rg BT 96.71 564.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 133.09 564.25 Td (in ) Tj ET Q q 0 0 0 rg BT 143.37 564.25 Td (the ) Tj ET Q q 0 0 0 rg BT 158.08 564.25 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 218.89 564.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 263.61 564.25 Td (of ) Tj ET Q q 0 0 0 rg BT 274.44 564.25 Td (income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 542.25 Td (The ) Tj ET Q q 0 0 0 rg BT 68.03 542.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 84.89 542.25 Td (value ) Tj ET Q q 0 0 0 rg BT 109.53 542.25 Td (of ) Tj ET Q q 0 0 0 rg BT 120.85 542.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 161.60 542.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 185.69 542.25 Td (held ) Tj ET Q q 0 0 0 rg BT 205.89 542.25 Td (for ) Tj ET Q q 0 0 0 rg BT 220.54 542.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 239.07 542.25 Td (is ) Tj ET Q q 0 0 0 rg BT 248.72 542.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 290.03 542.25 Td (based ) Tj ET Q q 0 0 0 rg BT 315.78 542.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 355.98 542.25 Td (on ) Tj ET Q q 0 0 0 rg BT 368.96 542.25 Td (published ) Tj ET Q q 0 0 0 rg BT 410.84 542.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 437.70 542.25 Td (for ) Tj ET Q q 0 0 0 rg BT 452.34 542.25 Td (mortgage-backed ) Tj ET Q q 0 0 0 rg BT 524.74 542.25 Td (securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 530.25 Td (with ) Tj ET Q q 0 0 0 rg BT 71.35 530.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 103.20 530.25 Td (characteristics.) Tj ET Q q 0 0 0 rg BT 167.70 530.25 Td (T) Tj ET Q q 0 0 0 rg BT 173.11 530.25 Td (o ) Tj ET Q q 0 0 0 rg BT 182.19 530.25 Td (calculate ) Tj ET Q q 0 0 0 rg BT 221.79 530.25 Td (the ) Tj ET Q q 0 0 0 rg BT 238.07 530.25 Td (ef) Tj ET Q q 0 0 0 rg BT 245.66 530.25 Td (fects ) Tj ET Q q 0 0 0 rg BT 268.61 530.25 Td (of ) Tj ET Q q 0 0 0 rg BT 281.01 530.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 314.52 530.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 333.58 530.25 Td (movements, ) Tj ET Q q 0 0 0 rg BT 386.25 530.25 Td (the ) Tj ET Q q 0 0 0 rg BT 402.54 530.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 445.50 530.25 Td (utilizes ) Tj ET Q q 0 0 0 rg BT 478.46 530.25 Td (applicable ) Tj ET Q q 0 0 0 rg BT 523.62 530.25 Td (published ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 518.25 Td (mortgage-backed ) Tj ET Q q 0 0 0 rg BT 121.32 518.25 Td (security ) Tj ET Q q 0 0 0 rg BT 155.38 518.25 Td (prices, ) Tj ET Q q 0 0 0 rg BT 184.16 518.25 Td (and ) Tj ET Q q 0 0 0 rg BT 201.00 518.25 Td (multiplies ) Tj ET Q q 0 0 0 rg BT 243.41 518.25 Td (the ) Tj ET Q q 0 0 0 rg BT 258.03 518.25 Td (price ) Tj ET Q q 0 0 0 rg BT 280.43 518.25 Td (movement ) Tj ET Q q 0 0 0 rg BT 325.04 518.25 Td (between ) Tj ET Q q 0 0 0 rg BT 360.77 518.25 Td (the ) Tj ET Q q 0 0 0 rg BT 375.39 518.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 392.78 518.25 Td (lock ) Tj ET Q q 0 0 0 rg BT 412.40 518.25 Td (date ) Tj ET Q q 0 0 0 rg BT 431.46 518.25 Td (and ) Tj ET Q q 0 0 0 rg BT 448.31 518.25 Td (the ) Tj ET Q q 0 0 0 rg BT 462.93 518.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 495.87 518.25 Td (sheet ) Tj ET Q q 0 0 0 rg BT 518.82 518.25 Td (date ) Tj ET Q q 0 0 0 rg BT 537.89 518.25 Td (by ) Tj ET Q q 0 0 0 rg BT 550.29 518.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 506.25 Td (notional ) Tj ET Q q 0 0 0 rg BT 85.47 506.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 105.88 506.25 Td (commitment ) Tj ET Q q 0 0 0 rg BT 159.62 506.25 Td (amount.) Tj ET Q q 0 0 0 rg BT 196.94 506.25 Td (The ) Tj ET Q q 0 0 0 rg BT 215.68 506.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 257.76 506.25 Td (sells ) Tj ET Q q 0 0 0 rg BT 278.73 506.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 303.04 506.25 Td (on ) Tj ET Q q 0 0 0 rg BT 316.23 506.25 Td (a ) Tj ET Q q 0 0 0 rg BT 323.86 506.25 Td (servicing ) Tj ET Q q 0 0 0 rg BT 363.71 506.25 Td (released ) Tj ET Q q 0 0 0 rg BT 399.66 506.25 Td (or ) Tj ET Q q 0 0 0 rg BT 411.19 506.25 Td (servicing ) Tj ET Q q 0 0 0 rg BT 451.04 506.25 Td (retained ) Tj ET Q q 0 0 0 rg BT 486.43 506.25 Td (basis, ) Tj ET Q q 0 0 0 rg BT 512.13 506.25 Td (and ) Tj ET Q q 0 0 0 rg BT 529.76 506.25 Td (receives ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 494.25 Td (servicing ) Tj ET Q q 0 0 0 rg BT 88.51 494.25 Td (compensation.) Tj ET Q q 0 0 0 rg BT 151.37 494.25 Td (Thus, ) Tj ET Q q 0 0 0 rg BT 176.22 494.25 Td (the ) Tj ET Q q 0 0 0 rg BT 190.79 494.25 Td (value ) Tj ET Q q 0 0 0 rg BT 214.80 494.25 Td (of ) Tj ET Q q 0 0 0 rg BT 225.49 494.25 Td (the ) Tj ET Q q 0 0 0 rg BT 240.06 494.25 Td (servicing ) Tj ET Q q 0 0 0 rg BT 279.07 494.25 Td (rights ) Tj ET Q q 0 0 0 rg BT 304.20 494.25 Td (included ) Tj ET Q q 0 0 0 rg BT 340.98 494.25 Td (in ) Tj ET Q q 0 0 0 rg BT 351.12 494.25 Td (the ) Tj ET Q q 0 0 0 rg BT 365.69 494.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 381.92 494.25 Td (value ) Tj ET Q q 0 0 0 rg BT 405.93 494.25 Td (measurement ) Tj ET Q q 0 0 0 rg BT 461.59 494.25 Td (is ) Tj ET Q q 0 0 0 rg BT 470.61 494.25 Td (based ) Tj ET Q q 0 0 0 rg BT 495.74 494.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 518.09 494.25 Td (contractual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 482.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 74.30 482.25 Td (with ) Tj ET Q q 0 0 0 rg BT 94.67 482.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 133.37 482.25 Td (and ) Tj ET Q q 0 0 0 rg BT 150.39 482.25 Td (depends ) Tj ET Q q 0 0 0 rg BT 185.75 482.25 Td (on ) Tj ET Q q 0 0 0 rg BT 198.34 482.25 Td (the ) Tj ET Q q 0 0 0 rg BT 213.14 482.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 232.95 482.25 Td (type. ) Tj ET Q q 0 0 0 rg BT 255.25 482.25 Td ( ) Tj ET Q q 0 0 0 rg BT 257.65 482.25 Td (The ) Tj ET Q q 0 0 0 rg BT 275.79 482.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 317.26 482.25 Td (applies ) Tj ET Q q 0 0 0 rg BT 348.18 482.25 Td (a ) Tj ET Q q 0 0 0 rg BT 355.20 482.25 Td (fallout ) Tj ET Q q 0 0 0 rg BT 383.89 482.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 401.47 482.25 Td (to ) Tj ET Q q 0 0 0 rg BT 411.83 482.25 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 441.09 482.25 Td (when ) Tj ET Q q 0 0 0 rg BT 465.34 482.25 Td (measuring ) Tj ET Q q 0 0 0 rg BT 509.58 482.25 Td (the ) Tj ET Q q 0 0 0 rg BT 524.39 482.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.85 482.25 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 470.25 Td (of ) Tj ET Q q 0 0 0 rg BT 59.97 470.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 77.09 470.25 Td (lock ) Tj ET Q q 0 0 0 rg BT 96.45 470.25 Td (commitments.Fallout ) Tj ET Q q 0 0 0 rg BT 188.86 470.25 Td (is ) Tj ET Q q 0 0 0 rg BT 197.67 470.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 229.79 470.25 Td (as ) Tj ET Q q 0 0 0 rg BT 240.26 470.25 Td (locked ) Tj ET Q q 0 0 0 rg BT 269.06 470.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 288.41 470.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 344.99 470.25 Td (for ) Tj ET Q q 0 0 0 rg BT 358.79 470.25 Td (which ) Tj ET Q q 0 0 0 rg BT 385.36 470.25 Td (the ) Tj ET Q q 0 0 0 rg BT 399.72 470.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 440.75 470.25 Td (does ) Tj ET Q q 0 0 0 rg BT 461.21 470.25 Td (not ) Tj ET Q q 0 0 0 rg BT 476.13 470.25 Td (close ) Tj ET Q q 0 0 0 rg BT 498.82 470.25 Td (a ) Tj ET Q q 0 0 0 rg BT 505.39 470.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 545.30 470.25 Td (loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 458.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 458.25 Td (is ) Tj ET Q q 0 0 0 rg BT 75.61 458.25 Td (based ) Tj ET Q q 0 0 0 rg BT 100.88 458.25 Td (on ) Tj ET Q q 0 0 0 rg BT 113.38 458.25 Td (management) Tj ET Q q 0 0 0 rg BT 167.24 458.25 Td (s ) Tj ET Q q 0 0 0 rg BT 173.64 458.25 Td (judgment ) Tj ET Q q 0 0 0 rg BT 213.91 458.25 Td (and ) Tj ET Q q 0 0 0 rg BT 230.85 458.25 Td (company ) Tj ET Q q 0 0 0 rg BT 270.00 458.25 Td (experience.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.09 436.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 83.00 436.25 Td (value ) Tj ET Q q 0 0 0 rg BT 106.69 436.25 Td (of ) Tj ET Q q 0 0 0 rg BT 117.06 436.25 Td (the ) Tj ET Q q 0 0 0 rg BT 131.32 436.25 Td (Company) Tj ET Q q 0 0 0 rg BT 172.98 436.25 Td (s ) Tj ET Q q 0 0 0 rg BT 178.91 436.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 212.60 436.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 234.08 436.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 272.21 436.25 Td (to ) Tj ET Q q 0 0 0 rg BT 282.03 436.25 Td (broker/dealers ) Tj ET Q q 0 0 0 rg BT 341.26 436.25 Td (solely ) Tj ET Q q 0 0 0 rg BT 367.19 436.25 Td (considers ) Tj ET Q q 0 0 0 rg BT 406.99 436.25 Td (the ) Tj ET Q q 0 0 0 rg BT 421.25 436.25 Td (market ) Tj ET Q q 0 0 0 rg BT 451.05 436.25 Td (price ) Tj ET Q q 0 0 0 rg BT 473.07 436.25 Td (movement ) Tj ET Q q 0 0 0 rg BT 517.32 436.25 Td (of ) Tj ET Q q 0 0 0 rg BT 527.69 436.25 Td (the ) Tj ET Q q 0 0 0 rg BT 541.95 436.25 Td (same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 424.25 Td (type ) Tj ET Q q 0 0 0 rg BT 68.62 424.25 Td (of ) Tj ET Q q 0 0 0 rg BT 78.86 424.25 Td (security ) Tj ET Q q 0 0 0 rg BT 112.42 424.25 Td (between ) Tj ET Q q 0 0 0 rg BT 147.64 424.25 Td (the ) Tj ET Q q 0 0 0 rg BT 161.76 424.25 Td (trade ) Tj ET Q q 0 0 0 rg BT 183.65 424.25 Td (date ) Tj ET Q q 0 0 0 rg BT 202.22 424.25 Td (and ) Tj ET Q q 0 0 0 rg BT 218.56 424.25 Td (the ) Tj ET Q q 0 0 0 rg BT 232.68 424.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 265.12 424.25 Td (sheet ) Tj ET Q q 0 0 0 rg BT 287.57 424.25 Td (date.) Tj ET Q q 0 0 0 rg BT 311.55 424.25 Td (The ) Tj ET Q q 0 0 0 rg BT 329.00 424.25 Td (market ) Tj ET Q q 0 0 0 rg BT 358.67 424.25 Td (price ) Tj ET Q q 0 0 0 rg BT 380.56 424.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 414.67 424.25 Td (are ) Tj ET Q q 0 0 0 rg BT 428.79 424.25 Td (multiplied ) Tj ET Q q 0 0 0 rg BT 471.80 424.25 Td (by ) Tj ET Q q 0 0 0 rg BT 483.71 424.25 Td (the ) Tj ET Q q 0 0 0 rg BT 497.83 424.25 Td (notional ) Tj ET Q q 0 0 0 rg BT 532.51 424.25 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 75.05 412.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 109.20 412.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 131.14 412.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 169.73 412.25 Td (to ) Tj ET Q q 0 0 0 rg BT 180.01 412.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 215.82 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 230.54 412.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 246.92 412.25 Td (value.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 390.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 83.49 390.25 Td (Rate ) Tj ET Q q 0 0 0 rg BT 104.69 390.25 Td (Lock ) Tj ET Q q 0 0 0 rg BT 127.56 390.25 Td (Commitments. ) Tj ET Q q 0 0 0 rg BT 189.61 390.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.93 390.25 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 220.92 390.25 Td (are ) Tj ET Q q 0 0 0 rg BT 235.44 390.25 Td (extended ) Tj ET Q q 0 0 0 rg BT 273.85 390.25 Td (to ) Tj ET Q q 0 0 0 rg BT 283.95 390.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 313.47 390.25 Td (home-buying ) Tj ET Q q 0 0 0 rg BT 369.11 390.25 Td (customers ) Tj ET Q q 0 0 0 rg BT 411.98 390.25 Td (who ) Tj ET Q q 0 0 0 rg BT 431.52 390.25 Td (have ) Tj ET Q q 0 0 0 rg BT 452.71 390.25 Td (applied ) Tj ET Q q 0 0 0 rg BT 484.47 390.25 Td (for ) Tj ET Q q 0 0 0 rg BT 498.44 390.25 Td (a ) Tj ET Q q 0 0 0 rg BT 505.20 390.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 545.28 390.25 Td (loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.13 378.25 Td (meet ) Tj ET Q q 0 0 0 rg BT 87.75 378.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 117.13 378.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 149.31 378.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 174.26 378.25 Td (and ) Tj ET Q q 0 0 0 rg BT 190.88 378.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 244.72 378.25 Td (criteria. ) Tj ET Q q 0 0 0 rg BT 277.72 378.25 Td ( ) Tj ET Q q 0 0 0 rg BT 279.75 378.25 Td (T) Tj ET Q q 0 0 0 rg BT 285.16 378.25 Td (ypically) Tj ET Q q 0 0 0 rg BT 316.72 378.25 Td (, ) Tj ET Q q 0 0 0 rg BT 321.41 378.25 Td (the ) Tj ET Q q 0 0 0 rg BT 335.81 378.25 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 364.67 378.25 Td (will ) Tj ET Q q 0 0 0 rg BT 382.41 378.25 Td (have ) Tj ET Q q 0 0 0 rg BT 403.47 378.25 Td (a ) Tj ET Q q 0 0 0 rg BT 410.10 378.25 Td (term ) Tj ET Q q 0 0 0 rg BT 430.61 378.25 Td (of ) Tj ET Q q 0 0 0 rg BT 441.13 378.25 Td (less ) Tj ET Q q 0 0 0 rg BT 458.31 378.25 Td (than ) Tj ET Q q 0 0 0 rg BT 477.72 378.25 Td (six ) Tj ET Q q 0 0 0 rg BT 491.57 378.25 Td (months; ) Tj ET Q q 0 0 0 rg BT 525.99 378.25 Td (however) Tj ET Q q 0 0 0 rg BT 560.01 378.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.78 366.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 89.48 366.25 Td (markets, ) Tj ET Q q 0 0 0 rg BT 126.14 366.25 Td (the ) Tj ET Q q 0 0 0 rg BT 140.85 366.25 Td (term ) Tj ET Q q 0 0 0 rg BT 161.68 366.25 Td (could ) Tj ET Q q 0 0 0 rg BT 186.39 366.25 Td (extend ) Tj ET Q q 0 0 0 rg BT 215.55 366.25 Td (to ) Tj ET Q q 0 0 0 rg BT 225.83 366.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 245.54 366.25 Td (months.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.25 Td (Some ) Tj ET Q q 0 0 0 rg BT 74.93 344.25 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 104.25 344.25 Td (are ) Tj ET Q q 0 0 0 rg BT 119.11 344.25 Td (committed ) Tj ET Q q 0 0 0 rg BT 164.53 344.25 Td (to ) Tj ET Q q 0 0 0 rg BT 174.95 344.25 Td (a ) Tj ET Q q 0 0 0 rg BT 182.04 344.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 215.79 344.25 Td (third ) Tj ET Q q 0 0 0 rg BT 237.32 344.25 Td (party ) Tj ET Q q 0 0 0 rg BT 260.52 344.25 Td (investor ) Tj ET Q q 0 0 0 rg BT 295.39 344.25 Td (through ) Tj ET Q q 0 0 0 rg BT 329.15 344.25 Td (the ) Tj ET Q q 0 0 0 rg BT 344.01 344.25 Td (use ) Tj ET Q q 0 0 0 rg BT 360.00 344.25 Td (of ) Tj ET Q q 0 0 0 rg BT 370.98 344.25 Td (whole ) Tj ET Q q 0 0 0 rg BT 398.06 344.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 417.93 344.25 Td (delivery ) Tj ET Q q 0 0 0 rg BT 453.35 344.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 510.43 344.25 Td (matching ) Tj ET Q q 0 0 0 rg BT 550.30 344.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.25 Td (exact ) Tj ET Q q 0 0 0 rg BT 73.48 332.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 98.58 332.25 Td (of ) Tj ET Q q 0 0 0 rg BT 109.80 332.25 Td (the ) Tj ET Q q 0 0 0 rg BT 124.90 332.25 Td (IRLC ) Tj ET Q q 0 0 0 rg BT 150.56 332.25 Td (loan. ) Tj ET Q q 0 0 0 rg BT 173.17 332.25 Td ( ) Tj ET Q q 0 0 0 rg BT 176.05 332.25 Td (Uncommitted ) Tj ET Q q 0 0 0 rg BT 233.93 332.25 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 263.48 332.25 Td (are ) Tj ET Q q 0 0 0 rg BT 278.58 332.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 324.78 332.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 367.64 332.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 417.20 332.25 Td (and ) Tj ET Q q 0 0 0 rg BT 434.52 332.25 Td (are ) Tj ET Q q 0 0 0 rg BT 449.61 332.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 466.38 332.25 Td (value ) Tj ET Q q 0 0 0 rg BT 490.92 332.25 Td (adjusted, ) Tj ET Q q 0 0 0 rg BT 529.63 332.25 Td (with ) Tj ET Q q 0 0 0 rg BT 550.29 332.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.25 Td (resulting ) Tj ET Q q 0 0 0 rg BT 87.00 320.25 Td (gain ) Tj ET Q q 0 0 0 rg BT 106.71 320.25 Td (or ) Tj ET Q q 0 0 0 rg BT 117.54 320.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 135.60 320.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 173.08 320.25 Td (in ) Tj ET Q q 0 0 0 rg BT 183.36 320.25 Td (current ) Tj ET Q q 0 0 0 rg BT 214.17 320.25 Td (earnings. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 298.25 Td (Forward ) Tj ET Q q 0 0 0 rg BT 88.88 298.25 Td (Sales ) Tj ET Q q 0 0 0 rg BT 113.82 298.25 Td (of ) Tj ET Q q 0 0 0 rg BT 125.41 298.25 Td (Mortgage-Backed ) Tj ET Q q 0 0 0 rg BT 202.55 298.25 Td (Securities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.87 298.25 Td ( ) Tj ET Q q 0 0 0 rg BT 252.13 298.25 Td (Forward ) Tj ET Q q 0 0 0 rg BT 289.27 298.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 311.97 298.25 Td (of ) Tj ET Q q 0 0 0 rg BT 323.56 298.25 Td (mortgage-backed ) Tj ET Q q 0 0 0 rg BT 396.23 298.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 437.26 298.25 Td (\(FMBSs\) ) Tj ET Q q 0 0 0 rg BT 486.63 298.25 Td (are ) Tj ET Q q 0 0 0 rg BT 502.10 298.25 Td (used ) Tj ET Q q 0 0 0 rg BT 523.69 298.25 Td (to ) Tj ET Q q 0 0 0 rg BT 534.73 298.25 Td (protect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 286.25 Td (uncommitted ) Tj ET Q q 0 0 0 rg BT 104.65 286.25 Td (IRLC ) Tj ET Q q 0 0 0 rg BT 129.82 286.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 153.31 286.25 Td (against ) Tj ET Q q 0 0 0 rg BT 184.02 286.25 Td (the ) Tj ET Q q 0 0 0 rg BT 198.62 286.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 216.01 286.25 Td (of ) Tj ET Q q 0 0 0 rg BT 226.72 286.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 261.32 286.25 Td (in ) Tj ET Q q 0 0 0 rg BT 271.48 286.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 303.30 286.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 324.56 286.25 Td (between ) Tj ET Q q 0 0 0 rg BT 360.26 286.25 Td (the ) Tj ET Q q 0 0 0 rg BT 374.86 286.25 Td (lock ) Tj ET Q q 0 0 0 rg BT 394.47 286.25 Td (date ) Tj ET Q q 0 0 0 rg BT 413.51 286.25 Td (and ) Tj ET Q q 0 0 0 rg BT 430.33 286.25 Td (the ) Tj ET Q q 0 0 0 rg BT 444.93 286.25 Td (funding ) Tj ET Q q 0 0 0 rg BT 478.43 286.25 Td (date. ) Tj ET Q q 0 0 0 rg BT 499.97 286.25 Td ( ) Tj ET Q q 0 0 0 rg BT 502.35 286.25 Td (FMBSs ) Tj ET Q q 0 0 0 rg BT 535.31 286.25 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 274.25 Td (to ) Tj ET Q q 0 0 0 rg BT 60.00 274.25 Td (uncommitted ) Tj ET Q q 0 0 0 rg BT 115.49 274.25 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 144.88 274.25 Td (are ) Tj ET Q q 0 0 0 rg BT 159.81 274.25 Td (classified ) Tj ET Q q 0 0 0 rg BT 200.29 274.25 Td (and ) Tj ET Q q 0 0 0 rg BT 217.45 274.25 Td (accounted ) Tj ET Q q 0 0 0 rg BT 260.71 274.25 Td (for ) Tj ET Q q 0 0 0 rg BT 275.09 274.25 Td (as ) Tj ET Q q 0 0 0 rg BT 286.14 274.25 Td (non-designated ) Tj ET Q q 0 0 0 rg BT 349.95 274.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 392.66 274.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 442.04 274.25 Td (and ) Tj ET Q q 0 0 0 rg BT 459.20 274.25 Td (are ) Tj ET Q q 0 0 0 rg BT 474.13 274.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 511.83 274.25 Td (at ) Tj ET Q q 0 0 0 rg BT 521.76 274.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 538.36 274.25 Td (value, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 262.25 Td (with ) Tj ET Q q 0 0 0 rg BT 69.78 262.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 93.39 262.25 Td (and ) Tj ET Q q 0 0 0 rg BT 110.33 262.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 136.72 262.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 174.19 262.25 Td (in ) Tj ET Q q 0 0 0 rg BT 184.47 262.25 Td (current ) Tj ET Q q 0 0 0 rg BT 215.29 262.25 Td (earnings. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 240.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 92.05 240.25 Td (Loans ) Tj ET Q q 0 0 0 rg BT 120.17 240.25 Td (Held ) Tj ET Q q 0 0 0 rg BT 142.71 240.25 Td (for ) Tj ET Q q 0 0 0 rg BT 157.49 240.25 Td (Sale.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.77 240.25 Td ( ) Tj ET Q q 0 0 0 rg BT 180.32 240.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.87 240.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 224.30 240.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 247.96 240.25 Td (held ) Tj ET Q q 0 0 0 rg BT 267.73 240.25 Td (for ) Tj ET Q q 0 0 0 rg BT 281.95 240.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 300.05 240.25 Td (consists ) Tj ET Q q 0 0 0 rg BT 334.27 240.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 374.03 240.25 Td (of ) Tj ET Q q 0 0 0 rg BT 384.92 240.25 Td (single-family ) Tj ET Q q 0 0 0 rg BT 440.79 240.25 Td (residential ) Tj ET Q q 0 0 0 rg BT 484.99 240.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 508.65 240.25 Td (collateralized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 228.25 Td (by ) Tj ET Q q 0 0 0 rg BT 61.26 228.25 Td (the ) Tj ET Q q 0 0 0 rg BT 75.24 228.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 120.32 228.25 Td (property) Tj ET Q q 0 0 0 rg BT 153.55 228.25 Td (.Generally) Tj ET Q q 0 0 0 rg BT 199.82 228.25 Td (, ) Tj ET Q q 0 0 0 rg BT 204.08 228.25 Td (all ) Tj ET Q q 0 0 0 rg BT 215.84 228.25 Td (of ) Tj ET Q q 0 0 0 rg BT 225.92 228.25 Td (the ) Tj ET Q q 0 0 0 rg BT 239.90 228.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 279.42 228.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 302.29 228.25 Td (and ) Tj ET Q q 0 0 0 rg BT 318.49 228.25 Td (related ) Tj ET Q q 0 0 0 rg BT 347.45 228.25 Td (servicing ) Tj ET Q q 0 0 0 rg BT 385.87 228.25 Td (rights ) Tj ET Q q 0 0 0 rg BT 410.40 228.25 Td (are ) Tj ET Q q 0 0 0 rg BT 424.37 228.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 442.80 228.25 Td (to ) Tj ET Q q 0 0 0 rg BT 452.34 228.25 Td (third-party ) Tj ET Q q 0 0 0 rg BT 496.86 228.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 534.73 228.25 Td (shortly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 216.25 Td (after ) Tj ET Q q 0 0 0 rg BT 69.67 216.25 Td (origination. ) Tj ET Q q 0 0 0 rg BT 120.40 216.25 Td (During ) Tj ET Q q 0 0 0 rg BT 150.58 216.25 Td (the ) Tj ET Q q 0 0 0 rg BT 164.64 216.25 Td (period ) Tj ET Q q 0 0 0 rg BT 192.04 216.25 Td (between ) Tj ET Q q 0 0 0 rg BT 227.20 216.25 Td (when ) Tj ET Q q 0 0 0 rg BT 250.71 216.25 Td (a ) Tj ET Q q 0 0 0 rg BT 257.00 216.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 276.07 216.25 Td (is ) Tj ET Q q 0 0 0 rg BT 284.59 216.25 Td (closed ) Tj ET Q q 0 0 0 rg BT 311.98 216.25 Td (and ) Tj ET Q q 0 0 0 rg BT 328.27 216.25 Td (when ) Tj ET Q q 0 0 0 rg BT 351.78 216.25 Td (it ) Tj ET Q q 0 0 0 rg BT 359.19 216.25 Td (is ) Tj ET Q q 0 0 0 rg BT 367.71 216.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 386.23 216.25 Td (to ) Tj ET Q q 0 0 0 rg BT 395.86 216.25 Td (an ) Tj ET Q q 0 0 0 rg BT 407.14 216.25 Td (investor) Tj ET Q q 0 0 0 rg BT 438.96 216.25 Td (, ) Tj ET Q q 0 0 0 rg BT 443.31 216.25 Td (the ) Tj ET Q q 0 0 0 rg BT 457.38 216.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 488.66 216.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 505.49 216.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 522.34 216.25 Td (is ) Tj ET Q q 0 0 0 rg BT 530.86 216.25 Td (covered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 204.25 Td (through ) Tj ET Q q 0 0 0 rg BT 83.11 204.25 Td (the ) Tj ET Q q 0 0 0 rg BT 97.83 204.25 Td (use ) Tj ET Q q 0 0 0 rg BT 113.66 204.25 Td (of ) Tj ET Q q 0 0 0 rg BT 124.49 204.25 Td (a ) Tj ET Q q 0 0 0 rg BT 131.42 204.25 Td (whole ) Tj ET Q q 0 0 0 rg BT 158.36 204.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 178.08 204.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 212.78 204.25 Td (or ) Tj ET Q q 0 0 0 rg BT 223.61 204.25 Td (by ) Tj ET Q q 0 0 0 rg BT 236.11 204.25 Td (FMBSs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 182.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.55 182.25 Td (table ) Tj ET Q q 0 0 0 rg BT 89.48 182.25 Td (below ) Tj ET Q q 0 0 0 rg BT 116.42 182.25 Td (shows ) Tj ET Q q 0 0 0 rg BT 143.92 182.25 Td (the ) Tj ET Q q 0 0 0 rg BT 158.64 182.25 Td (notional ) Tj ET Q q 0 0 0 rg BT 193.91 182.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 230.30 182.25 Td (of ) Tj ET Q q 0 0 0 rg BT 241.13 182.25 Td (our ) Tj ET Q q 0 0 0 rg BT 256.96 182.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 294.44 182.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 343.61 182.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.32 182.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 389.15 182.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 182.25 Td ( ) Tj ET Q q 0 0 0 rg BT 411.65 182.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.59 182.25 Td (December ) Tj ET Q q 0 0 0 rg BT 472.18 182.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 487.18 182.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.18 182.25 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 158.75 m 406 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 158.75 m 479 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 158.75 m 489 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 158.75 m 562 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 158.75 m 406 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 80.75 m 406 80.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 80.75 m 479 80.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 80.75 m 489 80.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 80.75 m 562 80.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 163.00 Td (Description of Financial Instrument \(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.75 162.98 Td (June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.55 163.00 Td (December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 150.00 Td (Whole loan contracts and related committed IRLCs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.50 149.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.80 149.98 Td (5,330) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.50 150.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 150.00 Td (2,182) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 137.00 Td (Uncommitted IRLCs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.80 136.98 Td (123,897) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 137.00 Td (50,746) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 124.00 Td (FMBSs related to uncommitted IRLCs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.80 123.98 Td (126,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 124.00 Td (53,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 111.00 Td (Whole loan contracts and related mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.80 110.98 Td (8,992) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 111.00 Td (80,956) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 98.00 Td (FMBSs related to mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.80 97.98 Td (97,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 98.00 Td (91,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 85.00 Td (Mortgage loans held for sale covered by FMBSs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.80 84.98 Td (97,281) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 85.00 Td (90,781) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.12 740.10 Td (table ) Tj ET Q q 0 0 0 rg BT 90.63 740.10 Td (below ) Tj ET Q q 0 0 0 rg BT 118.14 740.10 Td (shows ) Tj ET Q q 0 0 0 rg BT 146.22 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 161.51 740.10 Td (level ) Tj ET Q q 0 0 0 rg BT 184.02 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 201.53 740.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 257.91 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 269.32 740.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 295.72 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 313.23 740.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 353.52 740.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 394.91 740.10 Td (on ) Tj ET Q q 0 0 0 rg BT 407.99 740.10 Td (a ) Tj ET Q q 0 0 0 rg BT 415.50 740.10 Td (recurring ) Tj ET Q q 0 0 0 rg BT 455.22 740.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 478.29 740.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.58 740.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 524.99 740.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.99 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 548.06 740.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.08 728.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 108.08 728.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 728.10 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 688.6 m 220 688.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 688.6 m 266 688.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 688.6 m 296 688.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 688.6 m 372 688.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 688.6 m 399 688.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 688.6 m 448 688.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 688.6 m 475 688.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 688.6 m 526 688.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 688.6 m 562 688.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 688.6 m 448 688.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 640.6 m 220 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 640.6 m 266 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 640.6 m 296 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 640.6 m 372 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 640.6 m 399 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 640.6 m 448 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 640.6 m 475 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 640.6 m 526 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 640.6 m 562 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 628.6 m 220 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 640.6 m 266 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 628.6 m 266 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 628.6 m 296 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 628.6 m 372 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 628.6 m 399 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 628.6 m 448 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448 628.6 m 475 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 628.6 m 526 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 628.6 m 562 628.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 692.85 Td (Description of Financial Instrument \(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.65 708.83 Td (Fair) Tj ET Q q 0 0 0 rg BT 254.17 708.83 Td ( ) Tj ET Q q 0 0 0 rg BT 256.02 708.83 Td (V) Tj ET Q q 0 0 0 rg BT 261.06 708.83 Td (alue ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 232.45 700.83 Td (Measur) Tj ET Q q 0 0 0 rg BT 258.52 700.83 Td (ements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 234.25 692.83 Td (June 30, 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 306.85 708.83 Td (Quoted Prices in ) Tj ET Q q 0 0 0 rg BT 365.29 708.83 Td (Active ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.95 700.83 Td (Markets for) Tj ET Q q 0 0 0 rg BT 339.90 700.83 Td ( Identical ) Tj ET Q q 0 0 0 rg BT 373.68 700.83 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.00 692.83 Td (\(Level 1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.90 708.83 Td (Significant Other) Tj ET Q q 0 0 0 rg BT 466.09 708.83 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.80 700.83 Td (Observable Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 421.50 692.83 Td (\(Level 2\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.55 708.83 Td (Significant ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 482.30 700.83 Td (Unobservable Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 503.00 692.83 Td (\(Level 3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 680.55 Td (Mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 222.50 680.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 236.75 680.68 Td (108,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.50 680.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 680.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.50 680.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.75 680.68 Td (108,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 477.50 680.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.80 680.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 668.55 Td (Forward sales of mortgage-backed securities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 248.10 668.68 Td (\(783) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.80 668.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 668.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.10 668.68 Td (\(783) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.80 668.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.80 668.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 656.55 Td (Interest rate lock commitments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 244.75 656.68 Td (1,104) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 656.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.75 656.68 Td (1,104) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.80 656.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 644.55 Td (Whole loan contracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 248.10 644.68 Td (\(122) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.80 644.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 644.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.10 644.68 Td (\(122) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.80 644.68 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.80 644.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 632.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.83 632.55 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 222.50 632.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 236.75 632.68 Td (108,199) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.50 632.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 632.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.50 632.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.75 632.68 Td (108,199) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 477.50 632.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.80 632.68 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 589.6 m 219.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 589.6 m 264.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 589.6 m 294.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 589.6 m 370.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 589.6 m 397.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 589.6 m 445.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 589.6 m 474.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 589.6 m 525.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 589.6 m 561.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 589.6 m 294.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 589.6 m 397.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 589.6 m 445.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 589.6 m 474.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 589.6 m 561.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 537.6 m 445.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 537.6 m 219.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 524.6 m 219.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 537.6 m 264.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 524.6 m 264.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 537.6 m 294.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 524.6 m 294.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 537.6 m 370.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 524.6 m 370.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 537.6 m 397.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 524.6 m 397.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 537.6 m 445.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 524.6 m 445.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 537.6 m 474.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 524.6 m 474.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 537.6 m 525.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 524.6 m 525.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 537.6 m 561.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 524.6 m 561.5 524.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 593.85 Td (Description of Financial Instrument \(in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 240.00 609.85 Td (Fair ) Tj ET Q q 0 0 0 rg BT 254.74 609.85 Td (V) Tj ET Q q 0 0 0 rg BT 259.63 609.85 Td (alue ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.15 601.85 Td (Measurements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.05 593.85 Td (December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.35 609.85 Td (Quoted Prices in ) Tj ET Q q 0 0 0 rg BT 362.23 609.85 Td (Active ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 300.50 601.85 Td (Markets for Identical ) Tj ET Q q 0 0 0 rg BT 369.59 601.85 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.70 593.85 Td (\(Level 1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.80 609.85 Td (Significant Other ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.25 601.85 Td (Observable Inputs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.70 593.85 Td (\(Level 2\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.90 609.85 Td (Significant ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.25 601.85 Td (Unobservable Inputs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.70 593.85 Td (\(Level 3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 580.85 Td (Mortgage loans held for sale) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 580.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 580.85 Td (171,580) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.00 580.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 580.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.00 580.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.25 580.85 Td (171,580) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.00 580.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.30 580.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 567.85 Td (Forward sales of mortgage-backed securities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.30 567.85 Td (177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 567.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.30 567.85 Td (177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.30 567.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 554.85 Td (Interest rate lock commitments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.30 554.85 Td (271) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 554.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.30 554.85 Td (271) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.30 554.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 541.85 Td (Whole loan contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.30 541.85 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 541.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.30 541.85 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.30 541.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 528.85 Td (T) Tj ET Q q 0 0 0 rg BT 56.33 528.85 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 528.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.25 528.85 Td (172,040) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.00 528.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.30 528.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.00 528.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.25 528.85 Td (172,040) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.00 528.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.30 528.85 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 501.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.21 501.10 Td (following ) Tj ET Q q 0 0 0 rg BT 108.26 501.10 Td (table ) Tj ET Q q 0 0 0 rg BT 129.86 501.10 Td (sets ) Tj ET Q q 0 0 0 rg BT 147.03 501.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 168.63 501.10 Td (the ) Tj ET Q q 0 0 0 rg BT 183.01 501.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 215.17 501.10 Td (of ) Tj ET Q q 0 0 0 rg BT 225.66 501.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 245.05 501.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 269.43 501.10 Td (recognized, ) Tj ET Q q 0 0 0 rg BT 317.96 501.10 Td (within ) Tj ET Q q 0 0 0 rg BT 345.68 501.10 Td (our ) Tj ET Q q 0 0 0 rg BT 361.17 501.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 394.98 501.10 Td (in ) Tj ET Q q 0 0 0 rg BT 404.93 501.10 Td (the ) Tj ET Q q 0 0 0 rg BT 419.31 501.10 Td (Unaudited ) Tj ET Q q 0 0 0 rg BT 463.13 501.10 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 509.73 501.10 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 489.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 96.23 489.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.41 489.10 Td (Income, ) Tj ET Q q 0 0 0 rg BT 142.74 489.10 Td (on ) Tj ET Q q 0 0 0 rg BT 155.59 489.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 181.77 489.10 Td (and ) Tj ET Q q 0 0 0 rg BT 199.05 489.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 239.12 489.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 280.28 489.10 Td (on ) Tj ET Q q 0 0 0 rg BT 293.13 489.10 Td (a ) Tj ET Q q 0 0 0 rg BT 300.42 489.10 Td (recurring ) Tj ET Q q 0 0 0 rg BT 339.91 489.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 362.76 489.10 Td (for ) Tj ET Q q 0 0 0 rg BT 377.27 489.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.33 489.10 Td (three ) Tj ET Q q 0 0 0 rg BT 415.17 489.10 Td (and ) Tj ET Q q 0 0 0 rg BT 432.45 489.10 Td (six ) Tj ET Q q 0 0 0 rg BT 446.97 489.10 Td (months ) Tj ET Q q 0 0 0 rg BT 479.27 489.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 505.99 489.10 Td (June ) Tj ET Q q 0 0 0 rg BT 527.17 489.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 542.52 489.10 Td (2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 477.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 477.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.44 477.10 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 453.6 m 377 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 453.6 m 384 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 453.6 m 439 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 453.6 m 449 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 453.6 m 502 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 453.6 m 509 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 453.6 m 562 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 440.6 m 322 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 440.6 m 377 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 440.6 m 384 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 440.6 m 439 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 440.6 m 449 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 453.6 m 502 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 440.6 m 502 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 453.6 m 509 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 440.6 m 509 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 453.6 m 562 453.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 440.6 m 562 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 440.6 m 377 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 440.6 m 502 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 440.6 m 509 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 440.6 m 562 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 392.6 m 322 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 392.6 m 377 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 392.6 m 384 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 392.6 m 439 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 392.6 m 449 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 392.6 m 502 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 392.6 m 509 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 392.6 m 562 392.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 380.6 m 322 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 380.6 m 377 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 380.6 m 384 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 380.6 m 439 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 380.6 m 449 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 380.6 m 502 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 380.6 m 509 380.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 380.6 m 562 380.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.35 457.83 Td (Thr) Tj ET Q q 0 0 0 rg BT 341.61 457.83 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.20 457.83 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 444.85 Td (Description \(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.00 444.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.00 444.85 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 444.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.00 444.85 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 432.55 Td (Mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 432.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 432.68 Td (642) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 432.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.10 432.55 Td (\(484) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.80 432.55 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 432.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 432.68 Td (1,317) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 432.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 432.55 Td (4,390) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 420.55 Td (Forward sales of mortgage-backed securities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.10 420.68 Td (\(658) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.80 420.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 420.55 Td (1,280) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.10 420.68 Td (\(960) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.80 420.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 420.55 Td (369) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 408.55 Td (Interest rate lock commitments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 408.68 Td (138) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.10 408.55 Td (\(748) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.80 408.55 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.80 408.68 Td (843) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 408.55 Td (94) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 396.55 Td (Whole loan contracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 363.10 396.68 Td (\(61) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.80 396.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 396.55 Td (305) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.10 396.68 Td (\(144) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.80 396.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 396.55 Td (71) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 384.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 384.55 Td (otal gain recognized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 384.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.80 384.68 Td (61) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 384.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 384.55 Td (353) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 384.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 384.68 Td (1,056) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 384.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 384.55 Td (4,924) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 357.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.37 357.10 Td (following ) Tj ET Q q 0 0 0 rg BT 110.58 357.10 Td (tables ) Tj ET Q q 0 0 0 rg BT 137.22 357.10 Td (set ) Tj ET Q q 0 0 0 rg BT 151.65 357.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 174.41 357.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.95 357.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 207.15 357.10 Td (value ) Tj ET Q q 0 0 0 rg BT 232.13 357.10 Td (of ) Tj ET Q q 0 0 0 rg BT 243.78 357.10 Td (the ) Tj ET Q q 0 0 0 rg BT 259.32 357.10 Td (Company) Tj ET Q q 0 0 0 rg BT 300.98 357.10 Td (s ) Tj ET Q q 0 0 0 rg BT 308.20 357.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 351.50 357.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 401.49 357.10 Td (and ) Tj ET Q q 0 0 0 rg BT 419.25 357.10 Td (their ) Tj ET Q q 0 0 0 rg BT 440.89 357.10 Td (location ) Tj ET Q q 0 0 0 rg BT 476.43 357.10 Td (within ) Tj ET Q q 0 0 0 rg BT 505.31 357.10 Td (the ) Tj ET Q q 0 0 0 rg BT 520.84 357.10 Td (Unaudited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 345.10 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 96.52 345.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 151.88 345.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 186.66 345.10 Td (Sheets ) Tj ET Q q 0 0 0 rg BT 215.35 345.10 Td (for ) Tj ET Q q 0 0 0 rg BT 229.59 345.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.39 345.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 276.41 345.10 Td (indicated ) Tj ET Q q 0 0 0 rg BT 315.64 345.10 Td (\(except ) Tj ET Q q 0 0 0 rg BT 347.65 345.10 Td (for ) Tj ET Q q 0 0 0 rg BT 361.89 345.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 402.24 345.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 425.93 345.10 Td (held ) Tj ET Q q 0 0 0 rg BT 445.73 345.10 Td (for ) Tj ET Q q 0 0 0 rg BT 459.97 345.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 478.10 345.10 Td (which ) Tj ET Q q 0 0 0 rg BT 505.12 345.10 Td (is ) Tj ET Q q 0 0 0 rg BT 514.37 345.10 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 554.17 345.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 333.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.44 333.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 91.69 333.10 Td (line ) Tj ET Q q 0 0 0 rg BT 109.19 333.10 Td (item\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 298.6 m 313 298.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 298.6 m 327 298.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 298.6 m 396 298.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 298.6 m 482 298.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 298.6 m 496 298.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 298.6 m 562 298.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 278.6 m 227 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 278.6 m 238 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 278.6 m 313 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 278.6 m 327 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 278.6 m 396 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 278.6 m 407 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 278.6 m 482 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 278.6 m 496 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 278.6 m 562 278.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 242.60000000000002 m 227 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 242.60000000000002 m 238 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 242.60000000000002 m 313 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 242.60000000000002 m 327 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 242.60000000000002 m 396 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 242.60000000000002 m 407 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 242.60000000000002 m 482 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 242.60000000000002 m 496 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 242.60000000000002 m 562 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 230.60000000000002 m 227 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 230.60000000000002 m 238 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 230.60000000000002 m 313 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 230.60000000000002 m 327 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 230.60000000000002 m 396 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 230.60000000000002 m 407 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 230.60000000000002 m 482 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 230.60000000000002 m 496 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 230.60000000000002 m 562 230.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 287.05 314.68 Td (Asset Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.00 314.68 Td (Liability Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 293.25 302.68 Td (June 30, 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.75 302.68 Td (June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 282.85 Td (Description of Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 251.10 290.68 Td (Balance Sheet ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.85 282.68 Td (Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.15 290.68 Td (Fair) Tj ET Q q 0 0 0 rg BT 357.67 290.68 Td ( ) Tj ET Q q 0 0 0 rg BT 359.52 290.68 Td (V) Tj ET Q q 0 0 0 rg BT 364.56 290.68 Td (alue ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.65 282.68 Td (\(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.10 290.68 Td (Balance Sheet) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.85 282.68 Td (Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.65 290.68 Td (Fair) Tj ET Q q 0 0 0 rg BT 525.17 290.68 Td ( ) Tj ET Q q 0 0 0 rg BT 527.02 290.68 Td (V) Tj ET Q q 0 0 0 rg BT 532.06 290.68 Td (alue ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.15 282.68 Td (\(in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 270.55 Td (Forward sales of mortgage-backed securities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 254.05 270.68 Td (Other) Tj ET Q q 0 0 0 rg BT 274.42 270.68 Td ( assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.50 270.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.80 270.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.25 270.68 Td (Other) Tj ET Q q 0 0 0 rg BT 437.62 270.68 Td ( liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.50 270.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.80 270.68 Td (783) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 258.55 Td (Interest rate lock commitments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 254.05 258.68 Td (Other) Tj ET Q q 0 0 0 rg BT 274.42 258.68 Td ( assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.80 258.68 Td (1,104) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.25 258.68 Td (Other) Tj ET Q q 0 0 0 rg BT 437.62 258.68 Td ( liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 258.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 246.55 Td (Whole loan contracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 254.05 246.68 Td (Other) Tj ET Q q 0 0 0 rg BT 274.42 246.68 Td ( assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.80 246.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.25 246.68 Td (Other) Tj ET Q q 0 0 0 rg BT 437.54 246.68 Td ( liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.80 246.68 Td (122) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 234.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 234.55 Td (otal fair value measurements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.50 234.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.80 234.68 Td (1,104) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.50 234.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.80 234.68 Td (905) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 196.60000000000002 m 313 196.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 196.60000000000002 m 327 196.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 196.60000000000002 m 396 196.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 196.60000000000002 m 482 196.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 196.60000000000002 m 496 196.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 196.60000000000002 m 562 196.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 176.60000000000002 m 227 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 176.60000000000002 m 238 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 176.60000000000002 m 313 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 176.60000000000002 m 327 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 176.60000000000002 m 396 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 176.60000000000002 m 407 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 176.60000000000002 m 482 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 176.60000000000002 m 496 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 176.60000000000002 m 562 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 140.60000000000002 m 227 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 140.60000000000002 m 238 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 140.60000000000002 m 313 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 140.60000000000002 m 327 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 140.60000000000002 m 396 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 140.60000000000002 m 407 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 140.60000000000002 m 482 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 140.60000000000002 m 496 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 140.60000000000002 m 562 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 128.60000000000002 m 227 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 128.60000000000002 m 238 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238 128.60000000000002 m 313 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 128.60000000000002 m 327 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 128.60000000000002 m 396 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 128.60000000000002 m 407 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 128.60000000000002 m 482 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 128.60000000000002 m 496 128.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 128.60000000000002 m 562 128.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.15 212.55 Td (Asset Derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.75 212.55 Td (Liability Derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.05 200.55 Td (December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.55 200.55 Td (December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 180.85 Td (Description of Derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.20 188.55 Td (Balance Sheet ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.75 180.55 Td (Location) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.50 188.55 Td (Fair ) Tj ET Q q 0 0 0 rg BT 359.24 188.55 Td (V) Tj ET Q q 0 0 0 rg BT 364.13 188.55 Td (alue ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.20 180.55 Td (\(in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.20 188.55 Td (Balance Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.75 180.55 Td (Location) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.00 188.55 Td (Fair ) Tj ET Q q 0 0 0 rg BT 526.74 188.55 Td (V) Tj ET Q q 0 0 0 rg BT 531.63 188.55 Td (alue ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.70 180.55 Td (\(in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 168.55 Td (Forward sales of mortgage-backed securities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.55 168.55 Td (Other assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.50 168.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 168.55 Td (177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.00 168.55 Td (Other liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.50 168.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 168.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 156.55 Td (Interest rate lock commitments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.55 156.55 Td (Other assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 156.55 Td (271) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.00 156.55 Td (Other liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 156.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 144.55 Td (Whole loan contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.55 144.55 Td (Other assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.80 144.55 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.00 144.55 Td (Other liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 144.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 132.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 132.55 Td (otal fair value measurements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.50 132.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 132.55 Td (460) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.50 132.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 132.55 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 107.10 Td (Assets ) Tj ET Q q 0 0 0 rg BT 77.56 107.10 Td (Measured ) Tj ET Q q 0 0 0 rg BT 121.17 107.10 Td (on ) Tj ET Q q 0 0 0 rg BT 134.24 107.10 Td (a ) Tj ET Q q 0 0 0 rg BT 141.74 107.10 Td (Non-Recurring ) Tj ET Q q 0 0 0 rg BT 207.58 107.10 Td (Basis) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 85.10 Td (Inventory) Tj ET Q q 0 0 0 rg BT 89.13 85.10 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 94.12 85.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.61 85.10 Td (The ) Tj ET Q q 0 0 0 rg BT 114.65 85.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 156.03 85.10 Td (assesses ) Tj ET Q q 0 0 0 rg BT 191.29 85.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 232.11 85.10 Td (for ) Tj ET Q q 0 0 0 rg BT 246.26 85.10 Td (recoverability ) Tj ET Q q 0 0 0 rg BT 304.28 85.10 Td (on ) Tj ET Q q 0 0 0 rg BT 316.77 85.10 Td (a ) Tj ET Q q 0 0 0 rg BT 323.70 85.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 362.29 85.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 384.78 85.10 Td (based ) Tj ET Q q 0 0 0 rg BT 410.04 85.10 Td (on ) Tj ET Q q 0 0 0 rg BT 422.53 85.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.24 85.10 Td (dif) Tj ET Q q 0 0 0 rg BT 448.17 85.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 480.08 85.10 Td (in ) Tj ET Q q 0 0 0 rg BT 490.35 85.10 Td (the ) Tj ET Q q 0 0 0 rg BT 505.05 85.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 540.86 85.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 73.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.44 73.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.26 73.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 116.19 73.10 Td (and ) Tj ET Q q 0 0 0 rg BT 133.23 73.10 Td (its ) Tj ET Q q 0 0 0 rg BT 145.28 73.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 161.77 73.10 Td (value ) Tj ET Q q 0 0 0 rg BT 186.03 73.10 Td (at ) Tj ET Q q 0 0 0 rg BT 195.85 73.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.67 73.10 Td (time ) Tj ET Q q 0 0 0 rg BT 231.05 73.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.98 73.10 Td (the ) Tj ET Q q 0 0 0 rg BT 256.80 73.10 Td (evaluation. ) Tj ET Q q 0 0 0 rg BT 303.56 73.10 Td ( ) Tj ET Q q 0 0 0 rg BT 306.17 73.10 Td (Determining ) Tj ET Q q 0 0 0 rg BT 359.31 73.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.13 73.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 390.62 73.10 Td (value ) Tj ET Q q 0 0 0 rg BT 414.88 73.10 Td (of ) Tj ET Q q 0 0 0 rg BT 425.81 73.10 Td (a ) Tj ET Q q 0 0 0 rg BT 432.85 73.10 Td (community) Tj ET Q q 0 0 0 rg BT 481.18 73.10 Td (s ) Tj ET Q q 0 0 0 rg BT 487.68 73.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 528.61 73.10 Td (involves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 61.10 Td (a ) Tj ET Q q 0 0 0 rg BT 55.29 61.10 Td (number ) Tj ET Q q 0 0 0 rg BT 87.19 61.10 Td (of ) Tj ET Q q 0 0 0 rg BT 96.87 61.10 Td (variables, ) Tj ET Q q 0 0 0 rg BT 136.82 61.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 175.38 61.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.17 61.10 Td (projections, ) Tj ET Q q 0 0 0 rg BT 239.46 61.10 Td (which ) Tj ET Q q 0 0 0 rg BT 265.25 61.10 Td (are ) Tj ET Q q 0 0 0 rg BT 278.81 61.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 302.93 61.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 309.28 61.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 363.94 61.10 Td (inputs. ) Tj ET Q q 0 0 0 rg BT 392.24 61.10 Td ( ) Tj ET Q q 0 0 0 rg BT 393.60 61.10 Td (Please ) Tj ET Q q 0 0 0 rg BT 420.50 61.10 Td (see ) Tj ET Q q 0 0 0 rg BT 434.62 61.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 455.41 61.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 464.26 61.10 Td (Summary ) Tj ET Q q 0 0 0 rg BT 508.94 61.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.62 61.10 Td (Significant ) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 100.51 740.10 Td (Policies ) Tj ET Q q 0 0 0 rg BT 136.53 740.10 Td (- ) Tj ET Q q 0 0 0 rg BT 144.21 740.10 Td (Inventory ) Tj ET Q q 0 0 0 rg BT 191.88 740.10 Td (in ) Tj ET Q q 0 0 0 rg BT 204.01 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 220.58 740.10 Td (Company) Tj ET Q q 0 0 0 rg BT 262.25 740.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.50 740.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 294.85 740.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 320.87 740.10 Td (10-K ) Tj ET Q q 0 0 0 rg BT 345.78 740.10 Td (for ) Tj ET Q q 0 0 0 rg BT 361.79 740.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 406.14 740.10 Td (information ) Tj ET Q q 0 0 0 rg BT 457.70 740.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 500.37 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 516.94 740.10 Td (Company) Tj ET Q q 0 0 0 rg BT 558.61 740.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (methodology ) Tj ET Q q 0 0 0 rg BT 104.77 728.10 Td (for ) Tj ET Q q 0 0 0 rg BT 118.93 728.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 169.75 728.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 186.13 728.10 Td (value.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.26 706.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.37 706.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 127.81 706.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 172.23 706.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 223.90 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 233.89 706.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 269.42 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 283.86 706.10 Td (recoverability ) Tj ET Q q 0 0 0 rg BT 341.60 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 352.15 706.10 Td (its ) Tj ET Q q 0 0 0 rg BT 363.81 706.10 Td (inventory) Tj ET Q q 0 0 0 rg BT 401.49 706.10 Td (, ) Tj ET Q q 0 0 0 rg BT 406.20 706.10 Td (such ) Tj ET Q q 0 0 0 rg BT 426.75 706.10 Td (as ) Tj ET Q q 0 0 0 rg BT 437.30 706.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 477.83 706.10 Td (average ) Tj ET Q q 0 0 0 rg BT 511.14 706.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 540.02 706.10 Td (price, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 103.72 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.94 694.10 Td (development ) Tj ET Q q 0 0 0 rg BT 179.38 694.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 206.66 694.10 Td (absorption ) Tj ET Q q 0 0 0 rg BT 253.66 694.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 273.43 694.10 Td (\(reflecting ) Tj ET Q q 0 0 0 rg BT 319.85 694.10 Td (any ) Tj ET Q q 0 0 0 rg BT 339.08 694.10 Td (product ) Tj ET Q q 0 0 0 rg BT 374.41 694.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 394.75 694.10 Td (change ) Tj ET Q q 0 0 0 rg BT 427.85 694.10 Td (strategies ) Tj ET Q q 0 0 0 rg BT 470.40 694.10 Td (implemented ) Tj ET Q q 0 0 0 rg BT 527.39 694.10 Td (or ) Tj ET Q q 0 0 0 rg BT 540.50 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 553.06 694.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.10 Td (implemented\), ) Tj ET Q q 0 0 0 rg BT 110.53 682.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 140.20 682.10 Td (strategies, ) Tj ET Q q 0 0 0 rg BT 183.46 682.10 Td (alternative ) Tj ET Q q 0 0 0 rg BT 228.65 682.10 Td (land ) Tj ET Q q 0 0 0 rg BT 248.87 682.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 269.08 682.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 313.18 682.10 Td (disposition ) Tj ET Q q 0 0 0 rg BT 360.08 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 371.41 682.10 Td (all ) Tj ET Q q 0 0 0 rg BT 384.40 682.10 Td (or ) Tj ET Q q 0 0 0 rg BT 395.72 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 403.16 682.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 435.04 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 446.37 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.58 682.10 Td (land ) Tj ET Q q 0 0 0 rg BT 481.80 682.10 Td (owned\), ) Tj ET Q q 0 0 0 rg BT 517.29 682.10 Td (or ) Tj ET Q q 0 0 0 rg BT 528.61 682.10 Td (discount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (rates. ) Tj ET Q q 0 0 0 rg BT 73.02 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 75.16 670.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 111.75 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 121.67 670.10 Td (these ) Tj ET Q q 0 0 0 rg BT 144.36 670.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 195.95 670.10 Td (could ) Tj ET Q q 0 0 0 rg BT 220.31 670.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 262.99 670.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 292.35 670.10 Td (future ) Tj ET Q q 0 0 0 rg BT 318.37 670.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 338.28 670.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 358.75 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 375.33 670.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 391.36 670.10 Td (value ) Tj ET Q q 0 0 0 rg BT 415.15 670.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 454.51 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 471.09 670.10 Td (may ) Tj ET Q q 0 0 0 rg BT 490.45 670.10 Td (lead ) Tj ET Q q 0 0 0 rg BT 509.25 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.61 670.10 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.47 658.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 84.21 658.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 127.40 658.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 176.69 658.10 Td (char) Tj ET Q q 0 0 0 rg BT 193.72 658.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 210.24 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 221.22 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.63 658.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 266.20 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 269.40 658.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 288.14 658.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 323.55 658.10 Td (is ) Tj ET Q q 0 0 0 rg BT 333.42 658.10 Td (conducted ) Tj ET Q q 0 0 0 rg BT 377.71 658.10 Td (only ) Tj ET Q q 0 0 0 rg BT 398.68 658.10 Td (if ) Tj ET Q q 0 0 0 rg BT 407.98 658.10 Td (indicators ) Tj ET Q q 0 0 0 rg BT 450.61 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.14 658.10 Td (a ) Tj ET Q q 0 0 0 rg BT 469.77 658.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 501.84 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 512.81 658.10 Td (value ) Tj ET Q q 0 0 0 rg BT 537.66 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.19 658.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 89.84 646.10 Td (exist, ) Tj ET Q q 0 0 0 rg BT 113.24 646.10 Td (which ) Tj ET Q q 0 0 0 rg BT 139.69 646.10 Td (include, ) Tj ET Q q 0 0 0 rg BT 173.64 646.10 Td (among ) Tj ET Q q 0 0 0 rg BT 202.87 646.10 Td (other ) Tj ET Q q 0 0 0 rg BT 225.43 646.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 254.39 646.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 289.17 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 298.96 646.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 322.08 646.10 Td (mar) Tj ET Q q 0 0 0 rg BT 337.45 646.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 352.24 646.10 Td (on ) Tj ET Q q 0 0 0 rg BT 364.25 646.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 385.71 646.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 423.81 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 433.60 646.10 Td (backlog ) Tj ET Q q 0 0 0 rg BT 467.27 646.10 Td (or ) Tj ET Q q 0 0 0 rg BT 477.62 646.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 505.74 646.10 Td (that ) Tj ET Q q 0 0 0 rg BT 522.75 646.10 Td (have ) Tj ET Q q 0 0 0 rg BT 543.64 646.10 Td (been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.10 Td (delivered, ) Tj ET Q q 0 0 0 rg BT 92.54 634.10 Td (slower ) Tj ET Q q 0 0 0 rg BT 122.54 634.10 Td (than ) Tj ET Q q 0 0 0 rg BT 143.09 634.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 190.29 634.10 Td (absorption ) Tj ET Q q 0 0 0 rg BT 235.85 634.10 Td (pace, ) Tj ET Q q 0 0 0 rg BT 260.00 634.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 296.10 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 307.21 634.10 Td (average ) Tj ET Q q 0 0 0 rg BT 341.63 634.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 364.41 634.10 Td (price ) Tj ET Q q 0 0 0 rg BT 387.73 634.10 Td (or ) Tj ET Q q 0 0 0 rg BT 399.40 634.10 Td (high ) Tj ET Q q 0 0 0 rg BT 420.51 634.10 Td (incentive ) Tj ET Q q 0 0 0 rg BT 460.50 634.10 Td (of) Tj ET Q q 0 0 0 rg BT 468.65 634.10 Td (fers ) Tj ET Q q 0 0 0 rg BT 486.97 634.10 Td (by ) Tj ET Q q 0 0 0 rg BT 500.31 634.10 Td (management ) Tj ET Q q 0 0 0 rg BT 554.73 634.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.10 Td (improve ) Tj ET Q q 0 0 0 rg BT 85.30 622.10 Td (absorptions, ) Tj ET Q q 0 0 0 rg BT 136.38 622.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 171.62 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 181.87 622.10 Td (mar) Tj ET Q q 0 0 0 rg BT 197.24 622.10 Td (gins ) Tj ET Q q 0 0 0 rg BT 216.38 622.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 257.17 622.10 Td (future ) Tj ET Q q 0 0 0 rg BT 283.53 622.10 Td (land ) Tj ET Q q 0 0 0 rg BT 303.22 622.10 Td (sales, ) Tj ET Q q 0 0 0 rg BT 327.63 622.10 Td (or ) Tj ET Q q 0 0 0 rg BT 338.44 622.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 373.67 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 383.93 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 398.62 622.10 Td (value ) Tj ET Q q 0 0 0 rg BT 422.75 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.55 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.24 622.10 Td (land ) Tj ET Q q 0 0 0 rg BT 467.94 622.10 Td (itself ) Tj ET Q q 0 0 0 rg BT 490.41 622.10 Td (as ) Tj ET Q q 0 0 0 rg BT 501.21 622.10 Td (a ) Tj ET Q q 0 0 0 rg BT 508.12 622.10 Td (result ) Tj ET Q q 0 0 0 rg BT 532.81 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 543.62 622.10 Td (third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.10 Td (party ) Tj ET Q q 0 0 0 rg BT 72.23 610.10 Td (appraisals. ) Tj ET Q q 0 0 0 rg BT 116.90 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 119.09 610.10 Td (If ) Tj ET Q q 0 0 0 rg BT 127.93 610.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 181.78 610.10 Td (are ) Tj ET Q q 0 0 0 rg BT 196.17 610.10 Td (not ) Tj ET Q q 0 0 0 rg BT 211.13 610.10 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 259.95 610.10 Td (based ) Tj ET Q q 0 0 0 rg BT 284.90 610.10 Td (on ) Tj ET Q q 0 0 0 rg BT 297.09 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 311.49 610.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 352.00 610.10 Td (future ) Tj ET Q q 0 0 0 rg BT 378.06 610.10 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 433.57 610.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 453.52 610.10 Td (flows, ) Tj ET Q q 0 0 0 rg BT 480.43 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 494.83 610.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 543.11 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 553.08 610.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 96.01 598.10 Td (is ) Tj ET Q q 0 0 0 rg BT 105.33 598.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 146.30 598.10 Td (as ) Tj ET Q q 0 0 0 rg BT 157.28 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 172.15 598.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 204.80 598.10 Td (by ) Tj ET Q q 0 0 0 rg BT 217.45 598.10 Td (which ) Tj ET Q q 0 0 0 rg BT 244.54 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 259.41 598.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 295.37 598.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 328.02 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.00 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 353.87 598.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 379.85 598.10 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 414.15 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.02 598.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 469.99 598.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 486.52 598.10 Td (value ) Tj ET Q q 0 0 0 rg BT 510.82 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 521.80 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 536.67 598.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 565.00 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 586.10 Td (During ) Tj ET Q q 0 0 0 rg BT 81.29 586.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.97 586.10 Td (three ) Tj ET Q q 0 0 0 rg BT 120.42 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 138.32 586.10 Td (six ) Tj ET Q q 0 0 0 rg BT 153.46 586.10 Td (months ) Tj ET Q q 0 0 0 rg BT 186.37 586.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 213.71 586.10 Td (June ) Tj ET Q q 0 0 0 rg BT 235.50 586.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 251.47 586.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 274.93 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 292.83 586.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.83 586.10 Td (, ) Tj ET Q q 0 0 0 rg BT 318.79 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.48 586.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 376.83 586.10 Td (did ) Tj ET Q q 0 0 0 rg BT 393.07 586.10 Td (not ) Tj ET Q q 0 0 0 rg BT 409.31 586.10 Td (record ) Tj ET Q q 0 0 0 rg BT 438.31 586.10 Td (any ) Tj ET Q q 0 0 0 rg BT 456.21 586.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 505.77 586.10 Td (char) Tj ET Q q 0 0 0 rg BT 522.80 586.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 539.59 586.10 Td (on ) Tj ET Q q 0 0 0 rg BT 553.06 586.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 574.10 Td (inventory) Tj ET Q q 0 0 0 rg BT 87.18 574.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 549.70 Td (Investment ) Tj ET Q q 0 0 0 rg BT 97.47 549.70 Td (in ) Tj ET Q q 0 0 0 rg BT 108.22 549.70 Td (Unconsolidated ) Tj ET Q q 0 0 0 rg BT 175.07 549.70 Td (Joint ) Tj ET Q q 0 0 0 rg BT 198.60 549.70 Td (V) Tj ET Q q 0 0 0 rg BT 204.16 549.70 Td (entures. ) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 239.63 549.70 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.63 549.70 Td (W) Tj ET Q q 0 0 0 rg BT 251.27 549.70 Td (e ) Tj ET Q q 0 0 0 rg BT 258.12 549.70 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 293.84 549.70 Td (our ) Tj ET Q q 0 0 0 rg BT 309.58 549.70 Td (investments ) Tj ET Q q 0 0 0 rg BT 359.76 549.70 Td (in ) Tj ET Q q 0 0 0 rg BT 369.95 549.70 Td (unconsolidated ) Tj ET Q q 0 0 0 rg BT 432.90 549.70 Td (joint ) Tj ET Q q 0 0 0 rg BT 453.65 549.70 Td (ventures ) Tj ET Q q 0 0 0 rg BT 489.93 549.70 Td (for ) Tj ET Q q 0 0 0 rg BT 504.00 549.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 552.51 549.70 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 537.70 Td (a ) Tj ET Q q 0 0 0 rg BT 56.50 537.70 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 95.15 537.70 Td (basis ) Tj ET Q q 0 0 0 rg BT 117.71 537.70 Td (based ) Tj ET Q q 0 0 0 rg BT 143.04 537.70 Td (on ) Tj ET Q q 0 0 0 rg BT 155.60 537.70 Td (the ) Tj ET Q q 0 0 0 rg BT 170.38 537.70 Td (dif) Tj ET Q q 0 0 0 rg BT 181.31 537.70 Td (ference ) Tj ET Q q 0 0 0 rg BT 213.28 537.70 Td (in ) Tj ET Q q 0 0 0 rg BT 223.62 537.70 Td (the ) Tj ET Q q 0 0 0 rg BT 238.40 537.70 Td (investment) Tj ET Q q 0 0 0 rg BT 285.06 537.70 Td (s ) Tj ET Q q 0 0 0 rg BT 291.51 537.70 Td (carrying ) Tj ET Q q 0 0 0 rg BT 327.38 537.70 Td (value ) Tj ET Q q 0 0 0 rg BT 351.60 537.70 Td (and ) Tj ET Q q 0 0 0 rg BT 368.60 537.70 Td (its ) Tj ET Q q 0 0 0 rg BT 380.60 537.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 397.04 537.70 Td (value ) Tj ET Q q 0 0 0 rg BT 421.26 537.70 Td (at ) Tj ET Q q 0 0 0 rg BT 431.03 537.70 Td (the ) Tj ET Q q 0 0 0 rg BT 445.81 537.70 Td (time ) Tj ET Q q 0 0 0 rg BT 466.14 537.70 Td (of ) Tj ET Q q 0 0 0 rg BT 477.03 537.70 Td (the ) Tj ET Q q 0 0 0 rg BT 491.81 537.70 Td (evaluation. ) Tj ET Q q 0 0 0 rg BT 538.52 537.70 Td ( ) Tj ET Q q 0 0 0 rg BT 541.08 537.70 Td (If ) Tj ET Q q 0 0 0 rg BT 550.30 537.70 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 525.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.87 525.70 Td (has ) Tj ET Q q 0 0 0 rg BT 108.68 525.70 Td (determined ) Tj ET Q q 0 0 0 rg BT 157.14 525.70 Td (that ) Tj ET Q q 0 0 0 rg BT 175.62 525.70 Td (the ) Tj ET Q q 0 0 0 rg BT 191.32 525.70 Td (decline ) Tj ET Q q 0 0 0 rg BT 223.67 525.70 Td (in ) Tj ET Q q 0 0 0 rg BT 234.93 525.70 Td (value ) Tj ET Q q 0 0 0 rg BT 260.07 525.70 Td (is ) Tj ET Q q 0 0 0 rg BT 270.22 525.70 Td (other ) Tj ET Q q 0 0 0 rg BT 294.25 525.70 Td (than ) Tj ET Q q 0 0 0 rg BT 314.94 525.70 Td (temporary) Tj ET Q q 0 0 0 rg BT 355.39 525.70 Td (, ) Tj ET Q q 0 0 0 rg BT 361.37 525.70 Td (the ) Tj ET Q q 0 0 0 rg BT 377.07 525.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 419.44 525.70 Td (would ) Tj ET Q q 0 0 0 rg BT 447.92 525.70 Td (write ) Tj ET Q q 0 0 0 rg BT 471.95 525.70 Td (down ) Tj ET Q q 0 0 0 rg BT 497.65 525.70 Td (the ) Tj ET Q q 0 0 0 rg BT 513.35 525.70 Td (value ) Tj ET Q q 0 0 0 rg BT 538.48 525.70 Td (of ) Tj ET Q q 0 0 0 rg BT 550.30 525.70 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 513.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 95.05 513.70 Td (to ) Tj ET Q q 0 0 0 rg BT 104.50 513.70 Td (its ) Tj ET Q q 0 0 0 rg BT 115.62 513.70 Td (estimated ) Tj ET Q q 0 0 0 rg BT 155.61 513.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 171.16 513.70 Td (value. ) Tj ET Q q 0 0 0 rg BT 196.99 513.70 Td ( ) Tj ET Q q 0 0 0 rg BT 198.66 513.70 Td (Determining ) Tj ET Q q 0 0 0 rg BT 250.87 513.70 Td (the ) Tj ET Q q 0 0 0 rg BT 264.76 513.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 280.31 513.70 Td (value ) Tj ET Q q 0 0 0 rg BT 303.64 513.70 Td (of ) Tj ET Q q 0 0 0 rg BT 313.64 513.70 Td (investments ) Tj ET Q q 0 0 0 rg BT 363.08 513.70 Td (in ) Tj ET Q q 0 0 0 rg BT 372.53 513.70 Td (unconsolidated ) Tj ET Q q 0 0 0 rg BT 434.75 513.70 Td (joint ) Tj ET Q q 0 0 0 rg BT 454.75 513.70 Td (ventures ) Tj ET Q q 0 0 0 rg BT 490.30 513.70 Td (involves ) Tj ET Q q 0 0 0 rg BT 525.86 513.70 Td (a ) Tj ET Q q 0 0 0 rg BT 531.97 513.70 Td (number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 501.70 Td (of ) Tj ET Q q 0 0 0 rg BT 61.00 501.70 Td (variables, ) Tj ET Q q 0 0 0 rg BT 102.76 501.70 Td (estimates ) Tj ET Q q 0 0 0 rg BT 143.14 501.70 Td (and ) Tj ET Q q 0 0 0 rg BT 160.75 501.70 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 215.86 501.70 Td (which ) Tj ET Q q 0 0 0 rg BT 243.47 501.70 Td (are ) Tj ET Q q 0 0 0 rg BT 258.84 501.70 Td (Level ) Tj ET Q q 0 0 0 rg BT 284.78 501.70 Td (3 ) Tj ET Q q 0 0 0 rg BT 292.94 501.70 Td (measurement ) Tj ET Q q 0 0 0 rg BT 349.42 501.70 Td (inputs. ) Tj ET Q q 0 0 0 rg BT 379.54 501.70 Td ( ) Tj ET Q q 0 0 0 rg BT 382.71 501.70 Td (Please ) Tj ET Q q 0 0 0 rg BT 411.42 501.70 Td (see ) Tj ET Q q 0 0 0 rg BT 427.36 501.70 Td (Note ) Tj ET Q q 0 0 0 rg BT 449.96 501.70 Td (1, ) Tj ET Q q 0 0 0 rg BT 460.63 501.70 Td (Summary ) Tj ET Q q 0 0 0 rg BT 507.13 501.70 Td (of ) Tj ET Q q 0 0 0 rg BT 518.62 501.70 Td (Significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 489.70 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 97.94 489.70 Td (Policies ) Tj ET Q q 0 0 0 rg BT 131.38 489.70 Td (- ) Tj ET Q q 0 0 0 rg BT 136.49 489.70 Td (Investment ) Tj ET Q q 0 0 0 rg BT 182.71 489.70 Td (in ) Tj ET Q q 0 0 0 rg BT 192.27 489.70 Td (Unconsolidated ) Tj ET Q q 0 0 0 rg BT 256.81 489.70 Td (Joint ) Tj ET Q q 0 0 0 rg BT 277.91 489.70 Td (V) Tj ET Q q 0 0 0 rg BT 284.03 489.70 Td (entures, ) Tj ET Q q 0 0 0 rg BT 321.62 489.70 Td (in ) Tj ET Q q 0 0 0 rg BT 331.18 489.70 Td (the ) Tj ET Q q 0 0 0 rg BT 345.18 489.70 Td (Company) Tj ET Q q 0 0 0 rg BT 386.85 489.70 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.52 489.70 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.52 489.70 Td ( ) Tj ET Q q 0 0 0 rg BT 414.30 489.70 Td (Form ) Tj ET Q q 0 0 0 rg BT 437.75 489.70 Td (10-K ) Tj ET Q q 0 0 0 rg BT 460.08 489.70 Td (for ) Tj ET Q q 0 0 0 rg BT 473.53 489.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 515.30 489.70 Td (information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 477.70 Td (regarding ) Tj ET Q q 0 0 0 rg BT 89.73 477.70 Td (the ) Tj ET Q q 0 0 0 rg BT 103.87 477.70 Td (Company) Tj ET Q q 0 0 0 rg BT 145.54 477.70 Td (s ) Tj ET Q q 0 0 0 rg BT 151.35 477.70 Td (methodology ) Tj ET Q q 0 0 0 rg BT 206.04 477.70 Td (for ) Tj ET Q q 0 0 0 rg BT 219.62 477.70 Td (determining ) Tj ET Q q 0 0 0 rg BT 269.86 477.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 285.65 477.70 Td (value. ) Tj ET Q q 0 0 0 rg BT 311.73 477.70 Td ( ) Tj ET Q q 0 0 0 rg BT 313.65 477.70 Td (Because ) Tj ET Q q 0 0 0 rg BT 348.88 477.70 Td (of ) Tj ET Q q 0 0 0 rg BT 359.13 477.70 Td (the ) Tj ET Q q 0 0 0 rg BT 373.26 477.70 Td (high ) Tj ET Q q 0 0 0 rg BT 392.96 477.70 Td (degree ) Tj ET Q q 0 0 0 rg BT 421.53 477.70 Td (of ) Tj ET Q q 0 0 0 rg BT 431.78 477.70 Td (judgment ) Tj ET Q q 0 0 0 rg BT 471.47 477.70 Td (involved ) Tj ET Q q 0 0 0 rg BT 508.38 477.70 Td (in ) Tj ET Q q 0 0 0 rg BT 518.08 477.70 Td (developing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 465.70 Td (these ) Tj ET Q q 0 0 0 rg BT 71.80 465.70 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 125.51 465.70 Td (it ) Tj ET Q q 0 0 0 rg BT 132.83 465.70 Td (is ) Tj ET Q q 0 0 0 rg BT 141.25 465.70 Td (possible ) Tj ET Q q 0 0 0 rg BT 175.79 465.70 Td (that ) Tj ET Q q 0 0 0 rg BT 192.54 465.70 Td (changes ) Tj ET Q q 0 0 0 rg BT 226.51 465.70 Td (in ) Tj ET Q q 0 0 0 rg BT 236.04 465.70 Td (these ) Tj ET Q q 0 0 0 rg BT 258.35 465.70 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 309.55 465.70 Td (could ) Tj ET Q q 0 0 0 rg BT 333.53 465.70 Td (materially ) Tj ET Q q 0 0 0 rg BT 375.82 465.70 Td (impact ) Tj ET Q q 0 0 0 rg BT 404.79 465.70 Td (future ) Tj ET Q q 0 0 0 rg BT 430.43 465.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 449.95 465.70 Td (flow ) Tj ET Q q 0 0 0 rg BT 470.04 465.70 Td (and ) Tj ET Q q 0 0 0 rg BT 486.24 465.70 Td (fair ) Tj ET Q q 0 0 0 rg BT 501.87 465.70 Td (value ) Tj ET Q q 0 0 0 rg BT 525.29 465.70 Td (estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 453.70 Td (of ) Tj ET Q q 0 0 0 rg BT 60.57 453.70 Td (the ) Tj ET Q q 0 0 0 rg BT 75.52 453.70 Td (investments ) Tj ET Q q 0 0 0 rg BT 126.04 453.70 Td (which ) Tj ET Q q 0 0 0 rg BT 153.21 453.70 Td (may ) Tj ET Q q 0 0 0 rg BT 173.17 453.70 Td (lead ) Tj ET Q q 0 0 0 rg BT 192.56 453.70 Td (the ) Tj ET Q q 0 0 0 rg BT 207.52 453.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 249.14 453.70 Td (to ) Tj ET Q q 0 0 0 rg BT 259.66 453.70 Td (incur ) Tj ET Q q 0 0 0 rg BT 282.94 453.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 325.67 453.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 374.51 453.70 Td (char) Tj ET Q q 0 0 0 rg BT 391.53 453.70 Td (ges ) Tj ET Q q 0 0 0 rg BT 407.60 453.70 Td (in ) Tj ET Q q 0 0 0 rg BT 418.12 453.70 Td (the ) Tj ET Q q 0 0 0 rg BT 433.07 453.70 Td (future. ) Tj ET Q q 0 0 0 rg BT 462.19 453.70 Td ( ) Tj ET Q q 0 0 0 rg BT 464.93 453.70 Td (During ) Tj ET Q q 0 0 0 rg BT 496.00 453.70 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.95 453.70 Td (three ) Tj ET Q q 0 0 0 rg BT 533.67 453.70 Td (and ) Tj ET Q q 0 0 0 rg BT 550.85 453.70 Td (six ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 441.70 Td (months ) Tj ET Q q 0 0 0 rg BT 81.23 441.70 Td (ended ) Tj ET Q q 0 0 0 rg BT 107.38 441.70 Td (June ) Tj ET Q q 0 0 0 rg BT 127.99 441.70 Td (30, ) Tj ET Q q 0 0 0 rg BT 142.77 441.70 Td (2018 ) Tj ET Q q 0 0 0 rg BT 165.04 441.70 Td (and ) Tj ET Q q 0 0 0 rg BT 181.76 441.70 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.76 441.70 Td (, ) Tj ET Q q 0 0 0 rg BT 206.54 441.70 Td (the ) Tj ET Q q 0 0 0 rg BT 221.03 441.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 262.20 441.70 Td (did ) Tj ET Q q 0 0 0 rg BT 277.25 441.70 Td (not ) Tj ET Q q 0 0 0 rg BT 292.31 441.70 Td (record ) Tj ET Q q 0 0 0 rg BT 320.13 441.70 Td (any ) Tj ET Q q 0 0 0 rg BT 336.84 441.70 Td (impairment ) Tj ET Q q 0 0 0 rg BT 385.22 441.70 Td (char) Tj ET Q q 0 0 0 rg BT 402.24 441.70 Td (ges ) Tj ET Q q 0 0 0 rg BT 417.85 441.70 Td (on ) Tj ET Q q 0 0 0 rg BT 430.13 441.70 Td (its ) Tj ET Q q 0 0 0 rg BT 441.86 441.70 Td (investments ) Tj ET Q q 0 0 0 rg BT 491.91 441.70 Td (in ) Tj ET Q q 0 0 0 rg BT 501.96 441.70 Td (unconsolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 429.70 Td (joint ) Tj ET Q q 0 0 0 rg BT 70.33 429.70 Td (ventures.) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 406.13505859375 m 142.5908203125 406.13505859375 l s q 0 0 0 rg BT 49.50 407.70 Td (Financial ) Tj ET Q q 0 0 0 rg BT 92.57 407.70 Td (Instruments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 385.70 Td (Counterparty ) Tj ET Q q 0 0 0 rg BT 106.92 385.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 134.88 385.70 Td (Risk. ) Tj ET Q q 0 0 0 rg BT 158.13 385.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.54 385.70 Td (T) Tj ET Q q 0 0 0 rg BT 165.95 385.70 Td (o ) Tj ET Q q 0 0 0 rg BT 173.36 385.70 Td (reduce ) Tj ET Q q 0 0 0 rg BT 202.41 385.70 Td (the ) Tj ET Q q 0 0 0 rg BT 217.04 385.70 Td (risk ) Tj ET Q q 0 0 0 rg BT 234.45 385.70 Td (associated ) Tj ET Q q 0 0 0 rg BT 277.95 385.70 Td (with ) Tj ET Q q 0 0 0 rg BT 298.14 385.70 Td (losses ) Tj ET Q q 0 0 0 rg BT 324.44 385.70 Td (that ) Tj ET Q q 0 0 0 rg BT 341.84 385.70 Td (would ) Tj ET Q q 0 0 0 rg BT 369.25 385.70 Td (be ) Tj ET Q q 0 0 0 rg BT 381.10 385.70 Td (recognized ) Tj ET Q q 0 0 0 rg BT 427.37 385.70 Td (if ) Tj ET Q q 0 0 0 rg BT 435.89 385.70 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 494.94 385.70 Td (failed ) Tj ET Q q 0 0 0 rg BT 520.11 385.70 Td (to ) Tj ET Q q 0 0 0 rg BT 530.29 385.70 Td (perform ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 373.70 Td (as ) Tj ET Q q 0 0 0 rg BT 60.20 373.70 Td (contracted, ) Tj ET Q q 0 0 0 rg BT 106.70 373.70 Td (the ) Tj ET Q q 0 0 0 rg BT 121.28 373.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 162.54 373.70 Td (limits ) Tj ET Q q 0 0 0 rg BT 187.69 373.70 Td (the ) Tj ET Q q 0 0 0 rg BT 202.27 373.70 Td (entities ) Tj ET Q q 0 0 0 rg BT 233.52 373.70 Td (with ) Tj ET Q q 0 0 0 rg BT 253.66 373.70 Td (whom ) Tj ET Q q 0 0 0 rg BT 281.03 373.70 Td (management ) Tj ET Q q 0 0 0 rg BT 334.48 373.70 Td (can ) Tj ET Q q 0 0 0 rg BT 350.72 373.70 Td (enter ) Tj ET Q q 0 0 0 rg BT 373.07 373.70 Td (into ) Tj ET Q q 0 0 0 rg BT 391.00 373.70 Td (commitments. ) Tj ET Q q 0 0 0 rg BT 450.30 373.70 Td ( ) Tj ET Q q 0 0 0 rg BT 452.50 373.70 Td (This ) Tj ET Q q 0 0 0 rg BT 472.64 373.70 Td (risk ) Tj ET Q q 0 0 0 rg BT 490.01 373.70 Td (of ) Tj ET Q q 0 0 0 rg BT 500.70 373.70 Td (accounting ) Tj ET Q q 0 0 0 rg BT 546.94 373.70 Td (loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 361.70 Td (is ) Tj ET Q q 0 0 0 rg BT 58.71 361.70 Td (the ) Tj ET Q q 0 0 0 rg BT 73.47 361.70 Td (dif) Tj ET Q q 0 0 0 rg BT 84.40 361.70 Td (ference ) Tj ET Q q 0 0 0 rg BT 116.36 361.70 Td (between ) Tj ET Q q 0 0 0 rg BT 152.22 361.70 Td (the ) Tj ET Q q 0 0 0 rg BT 166.98 361.70 Td (market ) Tj ET Q q 0 0 0 rg BT 197.28 361.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 214.81 361.70 Td (at ) Tj ET Q q 0 0 0 rg BT 224.57 361.70 Td (the ) Tj ET Q q 0 0 0 rg BT 239.33 361.70 Td (time ) Tj ET Q q 0 0 0 rg BT 259.65 361.70 Td (of ) Tj ET Q q 0 0 0 rg BT 270.52 361.70 Td (non-performance ) Tj ET Q q 0 0 0 rg BT 341.92 361.70 Td (by ) Tj ET Q q 0 0 0 rg BT 354.46 361.70 Td (the ) Tj ET Q q 0 0 0 rg BT 369.22 361.70 Td (counterparty ) Tj ET Q q 0 0 0 rg BT 422.29 361.70 Td (and ) Tj ET Q q 0 0 0 rg BT 439.27 361.70 Td (the ) Tj ET Q q 0 0 0 rg BT 454.03 361.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 471.56 361.70 Td (to ) Tj ET Q q 0 0 0 rg BT 481.88 361.70 Td (which ) Tj ET Q q 0 0 0 rg BT 508.87 361.70 Td (the ) Tj ET Q q 0 0 0 rg BT 523.63 361.70 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 349.70 Td (committed. ) Tj ET Q endstream endobj 33 0 obj <><>] /Rotate 0 /Contents 34 0 R>> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.84 740.10 Td (following ) Tj ET Q q 0 0 0 rg BT 109.53 740.10 Td (table ) Tj ET Q q 0 0 0 rg BT 131.76 740.10 Td (presents ) Tj ET Q q 0 0 0 rg BT 167.33 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.34 740.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 218.46 740.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 255.14 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 272.38 740.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 289.05 740.10 Td (values ) Tj ET Q q 0 0 0 rg BT 317.40 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 328.52 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.54 740.10 Td (Company) Tj ET Q q 0 0 0 rg BT 385.20 740.10 Td (s ) Tj ET Q q 0 0 0 rg BT 391.89 740.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 429.67 740.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 479.13 740.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 740.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 525.28 740.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.28 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 548.07 740.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.31 728.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 108.54 728.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.54 728.10 Td (. ) Tj ET Q q 0 0 0 rg BT 133.77 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 136.30 728.10 Td (The ) Tj ET Q q 0 0 0 rg BT 154.58 728.10 Td (objective ) Tj ET Q q 0 0 0 rg BT 193.96 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.02 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 219.97 728.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 236.57 728.10 Td (value ) Tj ET Q q 0 0 0 rg BT 260.96 728.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 317.00 728.10 Td (is ) Tj ET Q q 0 0 0 rg BT 326.40 728.10 Td (to ) Tj ET Q q 0 0 0 rg BT 336.91 728.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 372.96 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 387.90 728.10 Td (price ) Tj ET Q q 0 0 0 rg BT 410.62 728.10 Td (at ) Tj ET Q q 0 0 0 rg BT 420.56 728.10 Td (which ) Tj ET Q q 0 0 0 rg BT 447.73 728.10 Td (an ) Tj ET Q q 0 0 0 rg BT 459.90 728.10 Td (orderly ) Tj ET Q q 0 0 0 rg BT 491.50 728.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 538.11 728.10 Td (to ) Tj ET Q q 0 0 0 rg BT 548.61 728.10 Td (sell ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.07 716.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 87.87 716.10 Td (or ) Tj ET Q q 0 0 0 rg BT 99.56 716.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 133.45 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 149.02 716.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 183.49 716.10 Td (would ) Tj ET Q q 0 0 0 rg BT 211.85 716.10 Td (take ) Tj ET Q q 0 0 0 rg BT 231.86 716.10 Td (place ) Tj ET Q q 0 0 0 rg BT 256.31 716.10 Td (between ) Tj ET Q q 0 0 0 rg BT 292.98 716.10 Td (market ) Tj ET Q q 0 0 0 rg BT 324.10 716.10 Td (participants ) Tj ET Q q 0 0 0 rg BT 374.11 716.10 Td (at ) Tj ET Q q 0 0 0 rg BT 384.68 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.26 716.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 456.92 716.10 Td (date ) Tj ET Q q 0 0 0 rg BT 476.94 716.10 Td (under ) Tj ET Q q 0 0 0 rg BT 503.06 716.10 Td (current ) Tj ET Q q 0 0 0 rg BT 534.73 716.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (conditions. ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 681.6 m 388 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 681.6 m 395 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 681.6 m 445 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 681.6 m 455 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 681.6 m 505 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 681.6 m 512 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 681.6 m 562 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 660.6 m 328 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 660.6 m 338 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 681.6 m 388 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 660.6 m 395 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 681.6 m 445 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 660.6 m 455 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 681.6 m 505 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 660.6 m 505 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 660.6 m 512 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 681.6 m 562 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 660.6 m 562 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 660.6 m 328 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 660.6 m 338 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 660.6 m 388 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 660.6 m 395 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 660.6 m 445 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 660.6 m 455 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 660.6 m 505 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 660.6 m 512 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 660.6 m 562 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 444.6 m 328 444.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 444.6 m 338 444.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 444.6 m 388 444.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 444.6 m 395 444.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 444.6 m 445 444.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 444.6 m 455 444.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 444.6 m 505 444.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 444.6 m 512 444.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 444.6 m 562 444.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.75 685.68 Td (June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.55 685.55 Td (December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 664.85 Td (\(In thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.70 672.83 Td (Carrying) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.45 664.83 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.65 664.83 Td (Fair) Tj ET Q q 0 0 0 rg BT 416.17 664.83 Td ( ) Tj ET Q q 0 0 0 rg BT 418.02 664.83 Td (V) Tj ET Q q 0 0 0 rg BT 423.06 664.83 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.25 672.85 Td (Carrying) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.35 664.85 Td (Amount) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.00 664.85 Td (Fair ) Tj ET Q q 0 0 0 rg BT 534.74 664.85 Td (V) Tj ET Q q 0 0 0 rg BT 539.63 664.85 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 652.55 Td (Assets:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 640.55 Td (Cash, cash equivalents and restricted cash) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.50 640.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.75 640.68 Td (67,817) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 397.50 640.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.75 640.68 Td (67,817) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.50 640.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.75 640.55 Td (151,703) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.50 640.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 640.55 Td (151,703) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 628.55 Td (Mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.75 628.68 Td (108,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.75 628.68 Td (108,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.75 628.55 Td (171,580) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 628.55 Td (171,580) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 616.55 Td (Split dollar life insurance policies) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 616.68 Td (209) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.80 616.68 Td (209) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 616.55 Td (209) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 616.55 Td (209) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 604.55 Td (Commitments to extend real estate loans) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.75 604.68 Td (1,104) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.75 604.68 Td (1,104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 604.55 Td (271) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 604.55 Td (271) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 592.55 Td (Whole loan contracts for committed IRLCs and mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.80 592.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 592.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.80 592.55 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 592.55 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 580.55 Td (Forward sales of mortgage-backed securities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.80 580.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 580.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 580.55 Td (177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 580.55 Td (177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 568.55 Td (Liabilities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 556.55 Td (Notes payable - homebuilding operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.75 556.68 Td (181,800) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.75 556.68 Td (181,800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.80 556.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 556.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 544.55 Td (Notes payable - financial services operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.75 544.68 Td (93,163) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.75 544.68 Td (93,163) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.75 544.55 Td (168,195) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 544.55 Td (168,195) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 532.55 Td (Notes payable - other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.75 532.68 Td (9,362) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.75 532.68 Td (8,504) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.75 532.55 Td (10,576) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.75 532.55 Td (9,437) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 520.55 Td (Convertible senior subordinated notes due 2018 ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 218.58 524.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.80 520.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 520.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.75 520.55 Td (86,250) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 520.55 Td (93,581) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 508.55 Td (Senior notes due 2021 ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 136.82 512.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.75 508.68 Td (300,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.75 508.68 Td (308,250) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.75 508.55 Td (300,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 508.55 Td (310,875) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 496.55 Td (Senior notes due 2025 ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 136.82 500.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.75 496.68 Td (250,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.75 496.68 Td (233,125) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.75 496.55 Td (250,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 496.55 Td (252,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 484.55 Td (Whole loan contracts for committed IRLCs and mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 484.68 Td (122) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.80 484.68 Td (122) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.80 484.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 484.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 472.55 Td (Forward sales of mortgage-backed securities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 472.68 Td (783) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.80 472.68 Td (783) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.80 472.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 472.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 460.55 Td (Of) Tj ET Q q 0 0 0 rg BT 59.80 460.55 Td (f-Balance ) Tj ET Q q 0 0 0 rg BT 92.89 460.55 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 112.66 460.55 Td (Financial ) Tj ET Q q 0 0 0 rg BT 144.43 460.55 Td (Instruments:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 448.55 Td (Letters of credit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.80 448.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.80 448.68 Td (955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.80 448.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.75 448.55 Td (1,083) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 429.50 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 429.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 82.07 429.50 Td (senior ) Tj ET Q q 0 0 0 rg BT 103.76 429.50 Td (notes ) Tj ET Q q 0 0 0 rg BT 122.77 429.50 Td (and ) Tj ET Q q 0 0 0 rg BT 136.46 429.50 Td (convertible ) Tj ET Q q 0 0 0 rg BT 174.57 429.50 Td (senior ) Tj ET Q q 0 0 0 rg BT 196.26 429.50 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 239.71 429.50 Td (notes ) Tj ET Q q 0 0 0 rg BT 258.73 429.50 Td (are ) Tj ET Q q 0 0 0 rg BT 270.63 429.50 Td (stated ) Tj ET Q q 0 0 0 rg BT 291.42 429.50 Td (at ) Tj ET Q q 0 0 0 rg BT 299.33 429.50 Td (the ) Tj ET Q q 0 0 0 rg BT 311.23 429.50 Td (principal ) Tj ET Q q 0 0 0 rg BT 341.80 429.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 367.92 429.50 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 407.39 429.50 Td (which ) Tj ET Q q 0 0 0 rg BT 429.07 429.50 Td (does ) Tj ET Q q 0 0 0 rg BT 445.87 429.50 Td (not ) Tj ET Q q 0 0 0 rg BT 458.22 429.50 Td (include ) Tj ET Q q 0 0 0 rg BT 483.90 429.50 Td (the ) Tj ET Q q 0 0 0 rg BT 495.80 429.50 Td (impact ) Tj ET Q q 0 0 0 rg BT 519.71 429.50 Td (of ) Tj ET Q q 0 0 0 rg BT 528.50 429.50 Td (premiums, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 419.90 Td (discounts, ) Tj ET Q q 0 0 0 rg BT 101.72 419.90 Td (and ) Tj ET Q q 0 0 0 rg BT 115.27 419.90 Td (debt ) Tj ET Q q 0 0 0 rg BT 131.05 419.90 Td (issuance ) Tj ET Q q 0 0 0 rg BT 160.15 419.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 178.15 419.90 Td (that ) Tj ET Q q 0 0 0 rg BT 192.14 419.90 Td (are ) Tj ET Q q 0 0 0 rg BT 203.91 419.90 Td (amortized ) Tj ET Q q 0 0 0 rg BT 237.89 419.90 Td (to ) Tj ET Q q 0 0 0 rg BT 246.12 419.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 271.66 419.90 Td (cost ) Tj ET Q q 0 0 0 rg BT 286.55 419.90 Td (over ) Tj ET Q q 0 0 0 rg BT 302.77 419.90 Td (the ) Tj ET Q q 0 0 0 rg BT 314.54 419.90 Td (respective ) Tj ET Q q 0 0 0 rg BT 348.96 419.90 Td (terms ) Tj ET Q q 0 0 0 rg BT 368.74 419.90 Td (of ) Tj ET Q q 0 0 0 rg BT 377.40 419.90 Td (the ) Tj ET Q q 0 0 0 rg BT 389.18 419.90 Td (notes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 397.90 Td (The ) Tj ET Q q 0 0 0 rg BT 66.89 397.90 Td (following ) Tj ET Q q 0 0 0 rg BT 107.61 397.90 Td (methods ) Tj ET Q q 0 0 0 rg BT 143.34 397.90 Td (and ) Tj ET Q q 0 0 0 rg BT 159.62 397.90 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 210.91 397.90 Td (were ) Tj ET Q q 0 0 0 rg BT 232.17 397.90 Td (used ) Tj ET Q q 0 0 0 rg BT 252.34 397.90 Td (by ) Tj ET Q q 0 0 0 rg BT 264.18 397.90 Td (the ) Tj ET Q q 0 0 0 rg BT 278.24 397.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 318.97 397.90 Td (in ) Tj ET Q q 0 0 0 rg BT 328.59 397.90 Td (estimating ) Tj ET Q q 0 0 0 rg BT 372.09 397.90 Td (its ) Tj ET Q q 0 0 0 rg BT 383.37 397.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 399.09 397.90 Td (value ) Tj ET Q q 0 0 0 rg BT 422.59 397.90 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 468.86 397.90 Td (of ) Tj ET Q q 0 0 0 rg BT 479.03 397.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 515.85 397.90 Td (instruments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 385.90 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.22 385.90 Td (June30, ) Tj ET Q q 0 0 0 rg BT 95.05 385.90 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.05 385.90 Td ( ) Tj ET Q q 0 0 0 rg BT 117.55 385.90 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.49 385.90 Td (December ) Tj ET Q q 0 0 0 rg BT 178.07 385.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 193.07 385.90 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.07 385.90 Td (:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 363.90 Td (Cash, ) Tj ET Q q 0 0 0 rg BT 75.02 363.90 Td (Cash ) Tj ET Q q 0 0 0 rg BT 98.04 363.90 Td (Equivalents ) Tj ET Q q 0 0 0 rg BT 148.83 363.90 Td (and ) Tj ET Q q 0 0 0 rg BT 166.29 363.90 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 209.29 363.90 Td (Cash.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.91 363.90 Td ( ) Tj ET Q q 0 0 0 rg BT 234.81 363.90 Td ( ) Tj ET Q q 0 0 0 rg BT 236.57 363.90 Td (The ) Tj ET Q q 0 0 0 rg BT 254.01 363.90 Td (carrying ) Tj ET Q q 0 0 0 rg BT 289.22 363.90 Td (amounts ) Tj ET Q q 0 0 0 rg BT 325.00 363.90 Td (of ) Tj ET Q q 0 0 0 rg BT 335.23 363.90 Td (these ) Tj ET Q q 0 0 0 rg BT 357.67 363.90 Td (items ) Tj ET Q q 0 0 0 rg BT 381.23 363.90 Td (approximate ) Tj ET Q q 0 0 0 rg BT 433.11 363.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 448.88 363.90 Td (value ) Tj ET Q q 0 0 0 rg BT 472.43 363.90 Td (because ) Tj ET Q q 0 0 0 rg BT 505.97 363.90 Td (they ) Tj ET Q q 0 0 0 rg BT 525.09 363.90 Td (are ) Tj ET Q q 0 0 0 rg BT 539.19 363.90 Td (short-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 351.90 Td (term ) Tj ET Q q 0 0 0 rg BT 70.33 351.90 Td (by ) Tj ET Q q 0 0 0 rg BT 82.83 351.90 Td (nature. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 329.90 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 92.50 329.90 Td (Loans ) Tj ET Q q 0 0 0 rg BT 121.05 329.90 Td (Held ) Tj ET Q q 0 0 0 rg BT 144.04 329.90 Td (for ) Tj ET Q q 0 0 0 rg BT 159.26 329.90 Td (Sale, ) Tj ET Q q 0 0 0 rg BT 182.53 329.90 Td (Forward ) Tj ET Q q 0 0 0 rg BT 221.65 329.90 Td (Sales ) Tj ET Q q 0 0 0 rg BT 246.32 329.90 Td (of ) Tj ET Q q 0 0 0 rg BT 257.64 329.90 Td (Mortgage-Backed ) Tj ET Q q 0 0 0 rg BT 334.52 329.90 Td (Securities, ) Tj ET Q q 0 0 0 rg BT 380.57 329.90 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 440.80 329.90 Td (to ) Tj ET Q q 0 0 0 rg BT 451.57 329.90 Td (Extend ) Tj ET Q q 0 0 0 rg BT 484.01 329.90 Td (Real ) Tj ET Q q 0 0 0 rg BT 505.90 329.90 Td (Estate ) Tj ET Q q 0 0 0 rg BT 534.45 329.90 Td (Loans, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 317.90 Td (Whole ) Tj ET Q q 0 0 0 rg BT 78.73 317.90 Td (loan ) Tj ET Q q 0 0 0 rg BT 99.64 317.90 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 142.21 317.90 Td (for ) Tj ET Q q 0 0 0 rg BT 157.00 317.90 Td (Committed ) Tj ET Q q 0 0 0 rg BT 204.56 317.90 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 234.35 317.90 Td (and ) Tj ET Q q 0 0 0 rg BT 252.48 317.90 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 295.04 317.90 Td (Loans ) Tj ET Q q 0 0 0 rg BT 323.17 317.90 Td (Held ) Tj ET Q q 0 0 0 rg BT 345.73 317.90 Td (for ) Tj ET Q q 0 0 0 rg BT 360.51 317.90 Td (Sale, ) Tj ET Q q 0 0 0 rg BT 383.35 317.90 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 433.69 317.90 Td (Senior ) Tj ET Q q 0 0 0 rg BT 463.48 317.90 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 521.62 317.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 547.51 317.90 Td (due ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 305.90 Td (2018, ) Tj ET Q q 0 0 0 rg BT 74.83 305.90 Td (Senior ) Tj ET Q q 0 0 0 rg BT 104.89 305.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 131.05 305.90 Td (due ) Tj ET Q q 0 0 0 rg BT 148.89 305.90 Td (2021 ) Tj ET Q q 0 0 0 rg BT 171.72 305.90 Td (and ) Tj ET Q q 0 0 0 rg BT 190.11 305.90 Td (Senior ) Tj ET Q q 0 0 0 rg BT 220.17 305.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 246.33 305.90 Td (due ) Tj ET Q q 0 0 0 rg BT 264.16 305.90 Td (2025. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.50 305.90 Td ( ) Tj ET Q q 0 0 0 rg BT 292.12 305.90 Td (The ) Tj ET Q q 0 0 0 rg BT 310.50 305.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 327.21 305.90 Td (value ) Tj ET Q q 0 0 0 rg BT 351.69 305.90 Td (of ) Tj ET Q q 0 0 0 rg BT 362.85 305.90 Td (these ) Tj ET Q q 0 0 0 rg BT 386.23 305.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 424.04 305.90 Td (instruments ) Tj ET Q q 0 0 0 rg BT 473.54 305.90 Td (was ) Tj ET Q q 0 0 0 rg BT 491.92 305.90 Td (determined ) Tj ET Q q 0 0 0 rg BT 539.73 305.90 Td (based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.90 Td (upon ) Tj ET Q q 0 0 0 rg BT 72.31 293.90 Td (market ) Tj ET Q q 0 0 0 rg BT 102.87 293.90 Td (quotes ) Tj ET Q q 0 0 0 rg BT 131.79 293.90 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.81 293.90 Td (June30, ) Tj ET Q q 0 0 0 rg BT 177.94 293.90 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.94 293.90 Td ( ) Tj ET Q q 0 0 0 rg BT 200.75 293.90 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.99 293.90 Td (December ) Tj ET Q q 0 0 0 rg BT 261.88 293.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 277.19 293.90 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.19 293.90 Td (. ) Tj ET Q q 0 0 0 rg BT 302.49 293.90 Td ( ) Tj ET Q q 0 0 0 rg BT 305.10 293.90 Td (The ) Tj ET Q q 0 0 0 rg BT 323.45 293.90 Td (market ) Tj ET Q q 0 0 0 rg BT 354.02 293.90 Td (quotes ) Tj ET Q q 0 0 0 rg BT 382.93 293.90 Td (used ) Tj ET Q q 0 0 0 rg BT 404.07 293.90 Td (were ) Tj ET Q q 0 0 0 rg BT 426.30 293.90 Td (quoted ) Tj ET Q q 0 0 0 rg BT 456.32 293.90 Td (prices ) Tj ET Q q 0 0 0 rg BT 483.00 293.90 Td (for ) Tj ET Q q 0 0 0 rg BT 497.47 293.90 Td (similar ) Tj ET Q q 0 0 0 rg BT 528.05 293.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 554.18 293.90 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.90 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 88.39 281.90 Td (along ) Tj ET Q q 0 0 0 rg BT 112.29 281.90 Td (with ) Tj ET Q q 0 0 0 rg BT 131.74 281.90 Td (inputs ) Tj ET Q q 0 0 0 rg BT 157.87 281.90 Td (taken ) Tj ET Q q 0 0 0 rg BT 181.20 281.90 Td (from ) Tj ET Q q 0 0 0 rg BT 202.32 281.90 Td (observable ) Tj ET Q q 0 0 0 rg BT 247.31 281.90 Td (market ) Tj ET Q q 0 0 0 rg BT 276.75 281.90 Td (data ) Tj ET Q q 0 0 0 rg BT 295.08 281.90 Td (by ) Tj ET Q q 0 0 0 rg BT 306.76 281.90 Td (correlation. ) Tj ET Q q 0 0 0 rg BT 354.25 281.90 Td ( ) Tj ET Q q 0 0 0 rg BT 355.80 281.90 Td (The ) Tj ET Q q 0 0 0 rg BT 373.03 281.90 Td (inputs ) Tj ET Q q 0 0 0 rg BT 399.15 281.90 Td (were ) Tj ET Q q 0 0 0 rg BT 420.26 281.90 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 455.26 281.90 Td (to ) Tj ET Q q 0 0 0 rg BT 464.72 281.90 Td (account ) Tj ET Q q 0 0 0 rg BT 497.49 281.90 Td (for ) Tj ET Q q 0 0 0 rg BT 510.83 281.90 Td (the ) Tj ET Q q 0 0 0 rg BT 524.72 281.90 Td (condition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.90 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 269.90 Td (the ) Tj ET Q q 0 0 0 rg BT 75.05 269.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 96.99 269.90 Td (or ) Tj ET Q q 0 0 0 rg BT 107.82 269.90 Td (liability) Tj ET Q q 0 0 0 rg BT 138.27 269.90 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 247.90 Td (Split ) Tj ET Q q 0 0 0 rg BT 71.31 247.90 Td (Dollar ) Tj ET Q q 0 0 0 rg BT 100.90 247.90 Td (Life ) Tj ET Q q 0 0 0 rg BT 120.47 247.90 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 165.63 247.90 Td (Policy ) Tj ET Q q 0 0 0 rg BT 194.09 247.90 Td (and ) Tj ET Q q 0 0 0 rg BT 212.57 247.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 238.81 247.90 Td (Receivable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.73 247.90 Td ( ) Tj ET Q q 0 0 0 rg BT 288.65 247.90 Td ( ) Tj ET Q q 0 0 0 rg BT 291.36 247.90 Td (The ) Tj ET Q q 0 0 0 rg BT 309.82 247.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 351.06 247.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 367.85 247.90 Td (value ) Tj ET Q q 0 0 0 rg BT 392.43 247.90 Td (was ) Tj ET Q q 0 0 0 rg BT 410.90 247.90 Td (determined ) Tj ET Q q 0 0 0 rg BT 458.79 247.90 Td (by ) Tj ET Q q 0 0 0 rg BT 471.71 247.90 Td (calculating ) Tj ET Q q 0 0 0 rg BT 518.50 247.90 Td (the ) Tj ET Q q 0 0 0 rg BT 533.63 247.90 Td (present ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 235.90 Td (value ) Tj ET Q q 0 0 0 rg BT 73.19 235.90 Td (of ) Tj ET Q q 0 0 0 rg BT 83.56 235.90 Td (the ) Tj ET Q q 0 0 0 rg BT 97.81 235.90 Td (amounts ) Tj ET Q q 0 0 0 rg BT 133.74 235.90 Td (based ) Tj ET Q q 0 0 0 rg BT 158.55 235.90 Td (on ) Tj ET Q q 0 0 0 rg BT 170.58 235.90 Td (the ) Tj ET Q q 0 0 0 rg BT 184.84 235.90 Td (estimated ) Tj ET Q q 0 0 0 rg BT 225.20 235.90 Td (timing ) Tj ET Q q 0 0 0 rg BT 253.35 235.90 Td (of ) Tj ET Q q 0 0 0 rg BT 263.71 235.90 Td (receipts ) Tj ET Q q 0 0 0 rg BT 296.85 235.90 Td (using ) Tj ET Q q 0 0 0 rg BT 320.55 235.90 Td (discount ) Tj ET Q q 0 0 0 rg BT 356.48 235.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 377.39 235.90 Td (that ) Tj ET Q q 0 0 0 rg BT 394.42 235.90 Td (incorporate ) Tj ET Q q 0 0 0 rg BT 441.99 235.90 Td (management) Tj ET Q q 0 0 0 rg BT 495.86 235.90 Td (s ) Tj ET Q q 0 0 0 rg BT 501.79 235.90 Td (estimate ) Tj ET Q q 0 0 0 rg BT 537.15 235.90 Td (of ) Tj ET Q q 0 0 0 rg BT 547.52 235.90 Td (risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 223.90 Td (associated ) Tj ET Q q 0 0 0 rg BT 93.09 223.90 Td (with ) Tj ET Q q 0 0 0 rg BT 113.37 223.90 Td (the ) Tj ET Q q 0 0 0 rg BT 128.09 223.90 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 187.80 223.90 Td (note ) Tj ET Q q 0 0 0 rg BT 207.51 223.90 Td (receivable.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 201.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.47 201.90 Td (Payable ) Tj ET Q q 0 0 0 rg BT 110.87 201.90 Td (- ) Tj ET Q q 0 0 0 rg BT 116.84 201.90 Td (Homebuilding ) Tj ET Q q 0 0 0 rg BT 178.93 201.90 Td (Operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.99 201.90 Td ( ) Tj ET Q q 0 0 0 rg BT 229.63 201.90 Td ( ) Tj ET Q q 0 0 0 rg BT 232.08 201.90 Td (The ) Tj ET Q q 0 0 0 rg BT 250.26 201.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 282.33 201.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 299.96 201.90 Td (available ) Tj ET Q q 0 0 0 rg BT 338.68 201.90 Td (to ) Tj ET Q q 0 0 0 rg BT 349.10 201.90 Td (the ) Tj ET Q q 0 0 0 rg BT 363.96 201.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 405.48 201.90 Td (during ) Tj ET Q q 0 0 0 rg BT 434.23 201.90 Td (the ) Tj ET Q q 0 0 0 rg BT 449.08 201.90 Td (quarter ) Tj ET Q q 0 0 0 rg BT 480.04 201.90 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.55 201.90 Td (June30, ) Tj ET Q q 0 0 0 rg BT 542.52 201.90 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 189.90 Td (under ) Tj ET Q q 0 0 0 rg BT 75.11 189.90 Td (the ) Tj ET Q q 0 0 0 rg BT 90.16 189.90 Td (Company) Tj ET Q q 0 0 0 rg BT 131.82 189.90 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.55 189.90 Td ($500 ) Tj ET Q q 0 0 0 rg BT 161.39 189.90 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.28 189.90 Td ( ) Tj ET Q q 0 0 0 rg BT 193.12 189.90 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 236.49 189.90 Td (revolving ) Tj ET Q q 0 0 0 rg BT 277.65 189.90 Td (credit ) Tj ET Q q 0 0 0 rg BT 303.25 189.90 Td (facility) Tj ET Q q 0 0 0 rg BT 330.93 189.90 Td (, ) Tj ET Q q 0 0 0 rg BT 336.26 189.90 Td (dated ) Tj ET Q q 0 0 0 rg BT 360.75 189.90 Td (July ) Tj ET Q q 0 0 0 rg BT 380.26 189.90 Td (18, ) Tj ET Q q 0 0 0 rg BT 395.60 189.90 Td (2013, ) Tj ET Q q 0 0 0 rg BT 420.94 189.90 Td (as ) Tj ET Q q 0 0 0 rg BT 432.10 189.90 Td (amended ) Tj ET Q q 0 0 0 rg BT 471.03 189.90 Td (\(the ) Tj ET Q q 0 0 0 rg BT 489.42 189.90 Td (Credit ) Tj ET Q q 0 0 0 rg BT 521.69 189.90 Td (Facility\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 177.90 Td (fluctuated ) Tj ET Q q 0 0 0 rg BT 92.48 177.90 Td (daily ) Tj ET Q q 0 0 0 rg BT 115.48 177.90 Td (with ) Tj ET Q q 0 0 0 rg BT 136.26 177.90 Td (the ) Tj ET Q q 0 0 0 rg BT 151.48 177.90 Td (one-month ) Tj ET Q q 0 0 0 rg BT 197.81 177.90 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 230.81 177.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 248.79 177.90 Td (plus ) Tj ET Q q 0 0 0 rg BT 268.47 177.90 Td (a ) Tj ET Q q 0 0 0 rg BT 275.91 177.90 Td (mar) Tj ET Q q 0 0 0 rg BT 291.27 177.90 Td (gin ) Tj ET Q q 0 0 0 rg BT 307.05 177.90 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.39 177.90 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.39 177.90 Td ( ) Tj ET Q q 0 0 0 rg BT 336.39 177.90 Td (basis ) Tj ET Q q 0 0 0 rg BT 359.39 177.90 Td (points, ) Tj ET Q q 0 0 0 rg BT 389.34 177.90 Td (and ) Tj ET Q q 0 0 0 rg BT 406.78 177.90 Td (thus ) Tj ET Q q 0 0 0 rg BT 426.45 177.90 Td (the ) Tj ET Q q 0 0 0 rg BT 441.67 177.90 Td (carrying ) Tj ET Q q 0 0 0 rg BT 477.99 177.90 Td (value ) Tj ET Q q 0 0 0 rg BT 502.65 177.90 Td (is ) Tj ET Q q 0 0 0 rg BT 512.32 177.90 Td (a ) Tj ET Q q 0 0 0 rg BT 519.76 177.90 Td (reasonable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 165.90 Td (estimate ) Tj ET Q q 0 0 0 rg BT 85.32 165.90 Td (of ) Tj ET Q q 0 0 0 rg BT 96.15 165.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 112.53 165.90 Td (value. ) Tj ET Q q 0 0 0 rg BT 139.18 165.90 Td ( ) Tj ET Q q 0 0 0 rg BT 141.68 165.90 Td (Please ) Tj ET Q q 0 0 0 rg BT 169.73 165.90 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 184.998046875 164.56699218749998 m 211.9365234375 164.56699218749998 l s q 0 0 1 rg BT 185.00 165.90 Td (Note ) Tj ET Q q 0 0 1 rg BT 206.94 165.90 Td (8) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 211.94 165.90 Td ( ) Tj ET Q q 0 0 0 rg BT 214.44 165.90 Td (to ) Tj ET Q q 0 0 0 rg BT 224.71 165.90 Td (our ) Tj ET Q q 0 0 0 rg BT 240.54 165.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 278.03 165.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 322.74 165.90 Td (for ) Tj ET Q q 0 0 0 rg BT 336.90 165.90 Td (additional ) Tj ET Q q 0 0 0 rg BT 379.39 165.90 Td (information ) Tj ET Q q 0 0 0 rg BT 429.10 165.90 Td (regarding ) Tj ET Q q 0 0 0 rg BT 469.92 165.90 Td (the ) Tj ET Q q 0 0 0 rg BT 484.63 165.90 Td (Credit ) Tj ET Q q 0 0 0 rg BT 512.13 165.90 Td (Facility) Tj ET Q q 0 0 0 rg BT 542.03 165.90 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 143.90 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.24 143.90 Td (Payable ) Tj ET Q q 0 0 0 rg BT 110.41 143.90 Td (- ) Tj ET Q q 0 0 0 rg BT 116.14 143.90 Td (Financial ) Tj ET Q q 0 0 0 rg BT 159.12 143.90 Td (Services ) Tj ET Q q 0 0 0 rg BT 195.40 143.90 Td (Operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.46 143.90 Td ( ) Tj ET Q q 0 0 0 rg BT 245.87 143.90 Td ( ) Tj ET Q q 0 0 0 rg BT 248.27 143.90 Td (M/I ) Tj ET Q q 0 0 0 rg BT 265.68 143.90 Td (Financial, ) Tj ET Q q 0 0 0 rg BT 307.80 143.90 Td (LLC ) Tj ET Q q 0 0 0 rg BT 329.09 143.90 Td (\(M/I ) Tj ET Q q 0 0 0 rg BT 354.26 143.90 Td (Financial\) ) Tj ET Q q 0 0 0 rg BT 401.65 143.90 Td (is ) Tj ET Q q 0 0 0 rg BT 410.73 143.90 Td (a ) Tj ET Q q 0 0 0 rg BT 417.57 143.90 Td (party ) Tj ET Q q 0 0 0 rg BT 440.53 143.90 Td (to ) Tj ET Q q 0 0 0 rg BT 450.71 143.90 Td (two ) Tj ET Q q 0 0 0 rg BT 468.12 143.90 Td (credit ) Tj ET Q q 0 0 0 rg BT 493.29 143.90 Td (agreements: ) Tj ET Q q 0 0 0 rg BT 544.00 143.90 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 558.07 143.90 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 131.90 Td ($125million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.89 131.90 Td ( ) Tj ET Q q 0 0 0 rg BT 103.03 131.90 Td (secured ) Tj ET Q q 0 0 0 rg BT 135.70 131.90 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 175.60 131.90 Td (warehousing ) Tj ET Q q 0 0 0 rg BT 228.84 131.90 Td (agreement ) Tj ET Q q 0 0 0 rg BT 272.61 131.90 Td (\(which ) Tj ET Q q 0 0 0 rg BT 302.52 131.90 Td (increases ) Tj ET Q q 0 0 0 rg BT 341.30 131.90 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.21 131.90 Td ($160 ) Tj ET Q q 0 0 0 rg BT 373.35 131.90 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.24 131.90 Td ( ) Tj ET Q q 0 0 0 rg BT 404.38 131.90 Td (during ) Tj ET Q q 0 0 0 rg BT 432.62 131.90 Td (certain ) Tj ET Q q 0 0 0 rg BT 461.96 131.90 Td (periods\), ) Tj ET Q q 0 0 0 rg BT 499.37 131.90 Td (as ) Tj ET Q q 0 0 0 rg BT 509.83 131.90 Td (amended ) Tj ET Q q 0 0 0 rg BT 548.06 131.90 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 119.90 Td (restated ) Tj ET Q q 0 0 0 rg BT 84.28 119.90 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.97 119.90 Td (June24, ) Tj ET Q q 0 0 0 rg BT 135.00 119.90 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 119.90 Td ( ) Tj ET Q q 0 0 0 rg BT 158.69 119.90 Td (and ) Tj ET Q q 0 0 0 rg BT 176.81 119.90 Td (further ) Tj ET Q q 0 0 0 rg BT 207.71 119.90 Td (amended ) Tj ET Q q 0 0 0 rg BT 247.50 119.90 Td (on ) Tj ET Q q 0 0 0 rg BT 261.19 119.90 Td (June ) Tj ET Q q 0 0 0 rg BT 283.21 119.90 Td (22, ) Tj ET Q q 0 0 0 rg BT 299.40 119.90 Td (2018 ) Tj ET Q q 0 0 0 rg BT 323.09 119.90 Td (\(the ) Tj ET Q q 0 0 0 rg BT 342.33 119.90 Td (MIF ) Tj ET Q q 0 0 0 rg BT 368.24 119.90 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 410.54 119.90 Td (W) Tj ET Q q 0 0 0 rg BT 419.18 119.90 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 465.93 119.90 Td (Agreement\); ) Tj ET Q q 0 0 0 rg BT 524.59 119.90 Td (and ) Tj ET Q q 0 0 0 rg BT 542.72 119.90 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 558.07 119.90 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 107.90 Td ($35million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.89 107.90 Td ( ) Tj ET Q q 0 0 0 rg BT 99.53 107.90 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 140.93 107.90 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 187.88 107.90 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 235.66 107.90 Td (as ) Tj ET Q q 0 0 0 rg BT 247.63 107.90 Td (amended ) Tj ET Q q 0 0 0 rg BT 287.36 107.90 Td (and ) Tj ET Q q 0 0 0 rg BT 305.44 107.90 Td (restated ) Tj ET Q q 0 0 0 rg BT 340.17 107.90 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.81 107.90 Td (October30, ) Tj ET Q q 0 0 0 rg BT 404.66 107.90 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.66 107.90 Td ( ) Tj ET Q q 0 0 0 rg BT 428.30 107.90 Td (\(the ) Tj ET Q q 0 0 0 rg BT 447.48 107.90 Td (MIF ) Tj ET Q q 0 0 0 rg BT 473.34 107.90 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 515.86 107.90 Td (Repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 95.90 Td (Facility\). ) Tj ET Q q 0 0 0 rg BT 92.97 95.90 Td ( ) Tj ET Q q 0 0 0 rg BT 95.61 95.90 Td (For ) Tj ET Q q 0 0 0 rg BT 112.15 95.90 Td (each ) Tj ET Q q 0 0 0 rg BT 133.11 95.90 Td (of ) Tj ET Q q 0 0 0 rg BT 144.08 95.90 Td (these ) Tj ET Q q 0 0 0 rg BT 167.28 95.90 Td (credit ) Tj ET Q q 0 0 0 rg BT 192.69 95.90 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 232.26 95.90 Td (the ) Tj ET Q q 0 0 0 rg BT 247.12 95.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 279.20 95.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 296.83 95.90 Td (is ) Tj ET Q q 0 0 0 rg BT 306.15 95.90 Td (based ) Tj ET Q q 0 0 0 rg BT 331.56 95.90 Td (on ) Tj ET Q q 0 0 0 rg BT 344.21 95.90 Td (a ) Tj ET Q q 0 0 0 rg BT 351.29 95.90 Td (variable ) Tj ET Q q 0 0 0 rg BT 386.14 95.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 403.77 95.90 Td (index, ) Tj ET Q q 0 0 0 rg BT 431.13 95.90 Td (and ) Tj ET Q q 0 0 0 rg BT 448.22 95.90 Td (thus ) Tj ET Q q 0 0 0 rg BT 467.53 95.90 Td (their ) Tj ET Q q 0 0 0 rg BT 488.50 95.90 Td (carrying ) Tj ET Q q 0 0 0 rg BT 524.46 95.90 Td (value ) Tj ET Q q 0 0 0 rg BT 548.76 95.90 Td (is ) Tj ET Q q 0 0 0 rg BT 558.08 95.90 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 83.90 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 94.97 83.90 Td (estimate ) Tj ET Q q 0 0 0 rg BT 131.00 83.90 Td (of ) Tj ET Q q 0 0 0 rg BT 142.04 83.90 Td (fair ) Tj ET Q q 0 0 0 rg BT 158.63 83.90 Td (value. ) Tj ET Q q 0 0 0 rg BT 185.49 83.90 Td ( ) Tj ET Q q 0 0 0 rg BT 188.01 83.90 Td (The ) Tj ET Q q 0 0 0 rg BT 206.27 83.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 238.41 83.90 Td (rate ) Tj ET Q q 0 0 0 rg BT 256.11 83.90 Td (available ) Tj ET Q q 0 0 0 rg BT 294.91 83.90 Td (to ) Tj ET Q q 0 0 0 rg BT 305.40 83.90 Td (M/I ) Tj ET Q q 0 0 0 rg BT 323.11 83.90 Td (Financial ) Tj ET Q q 0 0 0 rg BT 363.03 83.90 Td (during ) Tj ET Q q 0 0 0 rg BT 391.85 83.90 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.78 83.90 Td (second ) Tj ET Q q 0 0 0 rg BT 437.26 83.90 Td (quarter ) Tj ET Q q 0 0 0 rg BT 468.29 83.90 Td (of ) Tj ET Q q 0 0 0 rg BT 479.33 83.90 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.33 83.90 Td ( ) Tj ET Q q 0 0 0 rg BT 502.04 83.90 Td (fluctuated ) Tj ET Q q 0 0 0 rg BT 544.73 83.90 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 71.90 Td (LIBOR. ) Tj ET Q q 0 0 0 rg BT 85.60 71.90 Td ( ) Tj ET Q q 0 0 0 rg BT 89.19 71.90 Td (Please ) Tj ET Q q 0 0 0 rg BT 118.34 71.90 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 134.7001953125 70.56699218749998 m 162.73486328125 70.56699218749998 l s q 0 0 1 rg BT 134.70 71.90 Td (Note ) Tj ET Q q 0 0 1 rg BT 157.73 71.90 Td (8) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 162.73 71.90 Td ( ) Tj ET Q q 0 0 0 rg BT 166.33 71.90 Td (to ) Tj ET Q q 0 0 0 rg BT 177.71 71.90 Td (our ) Tj ET Q q 0 0 0 rg BT 194.63 71.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 233.21 71.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 279.02 71.90 Td (for ) Tj ET Q q 0 0 0 rg BT 294.27 71.90 Td (additional ) Tj ET Q q 0 0 0 rg BT 337.86 71.90 Td (information ) Tj ET Q q 0 0 0 rg BT 388.67 71.90 Td (regarding ) Tj ET Q q 0 0 0 rg BT 430.58 71.90 Td (the ) Tj ET Q q 0 0 0 rg BT 446.39 71.90 Td (MIF ) Tj ET Q q 0 0 0 rg BT 467.77 71.90 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 509.98 71.90 Td (W) Tj ET Q q 0 0 0 rg BT 518.62 71.90 Td (arehousing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 59.90 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 96.42 59.90 Td (and ) Tj ET Q q 0 0 0 rg BT 113.36 59.90 Td (the ) Tj ET Q q 0 0 0 rg BT 128.08 59.90 Td (MIF ) Tj ET Q q 0 0 0 rg BT 148.36 59.90 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 189.74 59.90 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 238.88 59.90 Td (Facility) Tj ET Q q 0 0 0 rg BT 268.79 59.90 Td (.) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (17) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.46 740.25 Td (Payable ) Tj ET Q q 0 0 0 rg BT 110.86 740.25 Td (- ) Tj ET Q q 0 0 0 rg BT 116.82 740.25 Td (Other) Tj ET Q q 0 0 0 rg BT 140.16 740.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.66 740.25 Td ( ) Tj ET Q q 0 0 0 rg BT 145.30 740.25 Td ( ) Tj ET Q q 0 0 0 rg BT 147.74 740.25 Td (The ) Tj ET Q q 0 0 0 rg BT 165.92 740.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 206.87 740.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 223.38 740.25 Td (value ) Tj ET Q q 0 0 0 rg BT 247.67 740.25 Td (was ) Tj ET Q q 0 0 0 rg BT 265.86 740.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 313.47 740.25 Td (by ) Tj ET Q q 0 0 0 rg BT 326.10 740.25 Td (calculating ) Tj ET Q q 0 0 0 rg BT 372.60 740.25 Td (the ) Tj ET Q q 0 0 0 rg BT 387.46 740.25 Td (present ) Tj ET Q q 0 0 0 rg BT 418.97 740.25 Td (value ) Tj ET Q q 0 0 0 rg BT 443.25 740.25 Td (of ) Tj ET Q q 0 0 0 rg BT 454.22 740.25 Td (the ) Tj ET Q q 0 0 0 rg BT 469.07 740.25 Td (future ) Tj ET Q q 0 0 0 rg BT 495.58 740.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 515.98 740.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 540.83 740.25 Td (using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 728.25 Td (Company) Tj ET Q q 0 0 0 rg BT 105.88 728.25 Td (s ) Tj ET Q q 0 0 0 rg BT 112.27 728.25 Td (current ) Tj ET Q q 0 0 0 rg BT 143.09 728.25 Td (incremental ) Tj ET Q q 0 0 0 rg BT 192.79 728.25 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 236.95 728.25 Td (rate. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (Letters ) Tj ET Q q 0 0 0 rg BT 81.13 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 92.77 706.25 Td (Credit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.83 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 124.13 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 127.44 706.25 Td (Letters ) Tj ET Q q 0 0 0 rg BT 158.51 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 170.15 706.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 196.22 706.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.86 706.25 Td ($49.8 ) Tj ET Q q 0 0 0 rg BT 233.66 706.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.56 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 265.86 706.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.61 706.25 Td ($49.7 ) Tj ET Q q 0 0 0 rg BT 309.42 706.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.31 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 341.61 706.25 Td (represent ) Tj ET Q q 0 0 0 rg BT 381.57 706.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 419.86 706.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 477.61 706.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.13 706.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 524.77 706.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.77 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 548.08 706.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (December ) Tj ET Q q 0 0 0 rg BT 92.62 694.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 107.15 694.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.15 694.25 Td (, ) Tj ET Q q 0 0 0 rg BT 131.68 694.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 179.34 694.25 Td (. ) Tj ET Q q 0 0 0 rg BT 183.88 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 185.76 694.25 Td (The ) Tj ET Q q 0 0 0 rg BT 203.34 694.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 229.81 694.25 Td (of ) Tj ET Q q 0 0 0 rg BT 240.17 694.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 264.97 694.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 304.20 694.25 Td (expire ) Tj ET Q q 0 0 0 rg BT 331.22 694.25 Td (within ) Tj ET Q q 0 0 0 rg BT 358.81 694.25 Td (one ) Tj ET Q q 0 0 0 rg BT 375.28 694.25 Td (or ) Tj ET Q q 0 0 0 rg BT 385.64 694.25 Td (two ) Tj ET Q q 0 0 0 rg BT 402.68 694.25 Td (years. ) Tj ET Q q 0 0 0 rg BT 428.31 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 430.19 694.25 Td (The ) Tj ET Q q 0 0 0 rg BT 447.77 694.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 488.13 694.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 504.04 694.25 Td (value ) Tj ET Q q 0 0 0 rg BT 527.72 694.25 Td (of ) Tj ET Q q 0 0 0 rg BT 538.09 694.25 Td (letters ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 682.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 85.59 682.25 Td (was ) Tj ET Q q 0 0 0 rg BT 103.65 682.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 151.13 682.25 Td (using ) Tj ET Q q 0 0 0 rg BT 175.30 682.25 Td (fees ) Tj ET Q q 0 0 0 rg BT 193.89 682.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 232.49 682.25 Td (char) Tj ET Q q 0 0 0 rg BT 249.51 682.25 Td (ged ) Tj ET Q q 0 0 0 rg BT 266.45 682.25 Td (for ) Tj ET Q q 0 0 0 rg BT 280.61 682.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 310.89 682.25 Td (agreements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 660.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.34 660.25 Td (5. ) Tj ET Q q 0 0 0 rg BT 90.34 660.25 Td (Guarantees ) Tj ET Q q 0 0 0 rg BT 142.28 660.25 Td (and ) Tj ET Q q 0 0 0 rg BT 160.90 660.25 Td (Indemnifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 638.25 Td (In ) Tj ET Q q 0 0 0 rg BT 61.29 638.25 Td (the ) Tj ET Q q 0 0 0 rg BT 76.97 638.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 114.31 638.25 Td (course ) Tj ET Q q 0 0 0 rg BT 143.87 638.25 Td (of ) Tj ET Q q 0 0 0 rg BT 155.66 638.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 195.51 638.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 213.97 638.25 Td (Financial, ) Tj ET Q q 0 0 0 rg BT 257.14 638.25 Td (a ) Tj ET Q q 0 0 0 rg BT 265.04 638.25 Td (100%-owned ) Tj ET Q q 0 0 0 rg BT 321.82 638.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 366.39 638.25 Td (of ) Tj ET Q q 0 0 0 rg BT 378.18 638.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 396.65 638.25 Td (Homes, ) Tj ET Q q 0 0 0 rg BT 430.94 638.25 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 452.17 638.25 Td (enters ) Tj ET Q q 0 0 0 rg BT 479.50 638.25 Td (into ) Tj ET Q q 0 0 0 rg BT 498.52 638.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 547.51 638.25 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 626.25 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 90.77 626.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 120.38 626.25 Td (purchasers ) Tj ET Q q 0 0 0 rg BT 165.54 626.25 Td (of ) Tj ET Q q 0 0 0 rg BT 176.28 626.25 Td (its ) Tj ET Q q 0 0 0 rg BT 188.13 626.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 228.30 626.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 251.82 626.25 Td (that ) Tj ET Q q 0 0 0 rg BT 269.22 626.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 286.63 626.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 326.24 626.25 Td (will ) Tj ET Q q 0 0 0 rg BT 344.21 626.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 389.92 626.25 Td (a ) Tj ET Q q 0 0 0 rg BT 396.76 626.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 416.39 626.25 Td (if ) Tj ET Q q 0 0 0 rg BT 424.90 626.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 454.51 626.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 498.58 626.25 Td (occur) Tj ET Q q 0 0 0 rg BT 520.39 626.25 Td (, ) Tj ET Q q 0 0 0 rg BT 525.29 626.25 Td (primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 614.25 Td (if ) Tj ET Q q 0 0 0 rg BT 57.06 614.25 Td (the ) Tj ET Q q 0 0 0 rg BT 70.72 614.25 Td (mortgagor ) Tj ET Q q 0 0 0 rg BT 113.82 614.25 Td (does ) Tj ET Q q 0 0 0 rg BT 133.60 614.25 Td (not ) Tj ET Q q 0 0 0 rg BT 147.83 614.25 Td (meet ) Tj ET Q q 0 0 0 rg BT 168.71 614.25 Td (the ) Tj ET Q q 0 0 0 rg BT 182.37 614.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 206.04 614.25 Td (of ) Tj ET Q q 0 0 0 rg BT 215.82 614.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.48 614.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 248.15 614.25 Td (within ) Tj ET Q q 0 0 0 rg BT 275.15 614.25 Td (the ) Tj ET Q q 0 0 0 rg BT 288.81 614.25 Td (first ) Tj ET Q q 0 0 0 rg BT 306.37 614.25 Td (six ) Tj ET Q q 0 0 0 rg BT 319.49 614.25 Td (months ) Tj ET Q q 0 0 0 rg BT 350.38 614.25 Td (after ) Tj ET Q q 0 0 0 rg BT 370.15 614.25 Td (the ) Tj ET Q q 0 0 0 rg BT 383.81 614.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 400.81 614.25 Td (of ) Tj ET Q q 0 0 0 rg BT 410.58 614.25 Td (the ) Tj ET Q q 0 0 0 rg BT 424.25 614.25 Td (loan. ) Tj ET Q q 0 0 0 rg BT 445.41 614.25 Td ( ) Tj ET Q q 0 0 0 rg BT 446.86 614.25 Td (Loans ) Tj ET Q q 0 0 0 rg BT 472.75 614.25 Td (totaling ) Tj ET Q q 0 0 0 rg BT 504.75 614.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 602.25 Td ($60.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 602.25 Td ( ) Tj ET Q q 0 0 0 rg BT 106.08 602.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.20 602.25 Td ($46.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.09 602.25 Td ( ) Tj ET Q q 0 0 0 rg BT 179.78 602.25 Td (were ) Tj ET Q q 0 0 0 rg BT 201.89 602.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 236.22 602.25 Td (under ) Tj ET Q q 0 0 0 rg BT 261.68 602.25 Td (these ) Tj ET Q q 0 0 0 rg BT 284.91 602.25 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 330.35 602.25 Td (as ) Tj ET Q q 0 0 0 rg BT 341.37 602.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.38 602.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 388.40 602.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.40 602.25 Td ( ) Tj ET Q q 0 0 0 rg BT 411.08 602.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.21 602.25 Td (December ) Tj ET Q q 0 0 0 rg BT 471.98 602.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 487.16 602.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.16 602.25 Td (, ) Tj ET Q q 0 0 0 rg BT 512.35 602.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 560.01 602.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 590.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.16 590.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.91 590.25 Td ( ) Tj ET Q q 0 0 0 rg BT 102.02 590.25 Td (in ) Tj ET Q q 0 0 0 rg BT 111.91 590.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 135.13 590.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 168.89 590.25 Td (by ) Tj ET Q q 0 0 0 rg BT 181.00 590.25 Td (these ) Tj ET Q q 0 0 0 rg BT 203.66 590.25 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 248.53 590.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.08 590.25 Td (December ) Tj ET Q q 0 0 0 rg BT 313.27 590.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 327.89 590.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.89 590.25 Td ( ) Tj ET Q q 0 0 0 rg BT 350.00 590.25 Td (is ) Tj ET Q q 0 0 0 rg BT 358.78 590.25 Td (a ) Tj ET Q q 0 0 0 rg BT 365.33 590.25 Td (result ) Tj ET Q q 0 0 0 rg BT 389.66 590.25 Td (of ) Tj ET Q q 0 0 0 rg BT 400.10 590.25 Td (a ) Tj ET Q q 0 0 0 rg BT 406.65 590.25 Td (change ) Tj ET Q q 0 0 0 rg BT 437.08 590.25 Td (in ) Tj ET Q q 0 0 0 rg BT 446.97 590.25 Td (the ) Tj ET Q q 0 0 0 rg BT 461.30 590.25 Td (mix ) Tj ET Q q 0 0 0 rg BT 478.97 590.25 Td (of ) Tj ET Q q 0 0 0 rg BT 489.41 590.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 527.63 590.25 Td (and ) Tj ET Q q 0 0 0 rg BT 544.18 590.25 Td (their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 578.25 Td (related ) Tj ET Q q 0 0 0 rg BT 79.33 578.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 117.50 578.25 Td (terms. ) Tj ET Q q 0 0 0 rg BT 144.85 578.25 Td () Tj ET Q q 0 0 0 rg BT 146.80 578.25 Td (A) Tj ET Q q 0 0 0 rg BT 153.47 578.25 Td ( ) Tj ET Q q 0 0 0 rg BT 156.10 578.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 187.62 578.25 Td (of ) Tj ET Q q 0 0 0 rg BT 198.58 578.25 Td (the ) Tj ET Q q 0 0 0 rg BT 213.42 578.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 247.70 578.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 267.55 578.25 Td (to ) Tj ET Q q 0 0 0 rg BT 277.96 578.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 295.59 578.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 335.43 578.25 Td (for ) Tj ET Q q 0 0 0 rg BT 349.72 578.25 Td (providing ) Tj ET Q q 0 0 0 rg BT 391.24 578.25 Td (the ) Tj ET Q q 0 0 0 rg BT 406.09 578.25 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 451.47 578.25 Td (on ) Tj ET Q q 0 0 0 rg BT 464.10 578.25 Td (these ) Tj ET Q q 0 0 0 rg BT 487.28 578.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 511.02 578.25 Td (was ) Tj ET Q q 0 0 0 rg BT 529.20 578.25 Td (deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 566.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.96 566.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 94.54 566.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.54 566.25 Td (, ) Tj ET Q q 0 0 0 rg BT 119.29 566.25 Td (and ) Tj ET Q q 0 0 0 rg BT 135.97 566.25 Td (will ) Tj ET Q q 0 0 0 rg BT 153.77 566.25 Td (be ) Tj ET Q q 0 0 0 rg BT 165.46 566.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 211.57 566.25 Td (in ) Tj ET Q q 0 0 0 rg BT 221.59 566.25 Td (income ) Tj ET Q q 0 0 0 rg BT 253.27 566.25 Td (as ) Tj ET Q q 0 0 0 rg BT 263.85 566.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 281.09 566.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 320.55 566.25 Td (is ) Tj ET Q q 0 0 0 rg BT 329.47 566.25 Td (released ) Tj ET Q q 0 0 0 rg BT 364.47 566.25 Td (from ) Tj ET Q q 0 0 0 rg BT 386.15 566.25 Td (its ) Tj ET Q q 0 0 0 rg BT 397.84 566.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 440.64 566.25 Td (under ) Tj ET Q q 0 0 0 rg BT 465.66 566.25 Td (the ) Tj ET Q q 0 0 0 rg BT 480.12 566.25 Td (guarantees. ) Tj ET Q q 0 0 0 rg BT 527.62 566.25 Td ( ) Tj ET Q q 0 0 0 rg BT 529.70 566.25 Td (The ) Tj ET Q q 0 0 0 rg BT 547.50 566.25 Td (risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 554.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 93.09 554.25 Td (with ) Tj ET Q q 0 0 0 rg BT 113.37 554.25 Td (the ) Tj ET Q q 0 0 0 rg BT 128.09 554.25 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 173.34 554.25 Td (above ) Tj ET Q q 0 0 0 rg BT 199.72 554.25 Td (is ) Tj ET Q q 0 0 0 rg BT 208.89 554.25 Td (of) Tj ET Q q 0 0 0 rg BT 217.04 554.25 Td (fset ) Tj ET Q q 0 0 0 rg BT 233.98 554.25 Td (by ) Tj ET Q q 0 0 0 rg BT 246.48 554.25 Td (the ) Tj ET Q q 0 0 0 rg BT 261.19 554.25 Td (value ) Tj ET Q q 0 0 0 rg BT 285.35 554.25 Td (of ) Tj ET Q q 0 0 0 rg BT 296.18 554.25 Td (the ) Tj ET Q q 0 0 0 rg BT 310.90 554.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 356.72 554.25 Td (assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 532.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 66.68 532.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 106.07 532.25 Td (has ) Tj ET Q q 0 0 0 rg BT 121.57 532.25 Td (received ) Tj ET Q q 0 0 0 rg BT 157.61 532.25 Td (inquiries ) Tj ET Q q 0 0 0 rg BT 194.78 532.25 Td (concerning ) Tj ET Q q 0 0 0 rg BT 241.38 532.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 295.22 532.25 Td (matters ) Tj ET Q q 0 0 0 rg BT 326.83 532.25 Td (from ) Tj ET Q q 0 0 0 rg BT 348.44 532.25 Td (purchasers ) Tj ET Q q 0 0 0 rg BT 393.38 532.25 Td (of ) Tj ET Q q 0 0 0 rg BT 403.88 532.25 Td (its ) Tj ET Q q 0 0 0 rg BT 415.51 532.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 438.79 532.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 479.29 532.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 508.67 532.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 531.95 532.25 Td (totaling ) Tj ET Q q 0 0 0 rg BT 565.00 532.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.76 520.25 Td ($0.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.65 520.25 Td ( ) Tj ET Q q 0 0 0 rg BT 161.15 520.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.09 520.25 Td ($1.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.98 520.25 Td ( ) Tj ET Q q 0 0 0 rg BT 229.48 520.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.20 520.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 275.03 520.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.03 520.25 Td ( ) Tj ET Q q 0 0 0 rg BT 297.53 520.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.47 520.25 Td (December ) Tj ET Q q 0 0 0 rg BT 358.05 520.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 373.05 520.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.05 520.25 Td (, ) Tj ET Q q 0 0 0 rg BT 398.05 520.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 445.71 520.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 66.48 498.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 105.67 498.25 Td (has ) Tj ET Q q 0 0 0 rg BT 120.98 498.25 Td (also ) Tj ET Q q 0 0 0 rg BT 139.07 498.25 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 184.91 498.25 Td (the ) Tj ET Q q 0 0 0 rg BT 199.10 498.25 Td (collectability ) Tj ET Q q 0 0 0 rg BT 253.28 498.25 Td (of ) Tj ET Q q 0 0 0 rg BT 263.59 498.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 292.77 498.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 315.86 498.25 Td (to ) Tj ET Q q 0 0 0 rg BT 325.62 498.25 Td (third ) Tj ET Q q 0 0 0 rg BT 346.49 498.25 Td (party ) Tj ET Q q 0 0 0 rg BT 369.01 498.25 Td (insurers ) Tj ET Q q 0 0 0 rg BT 402.65 498.25 Td (\(U.S. ) Tj ET Q q 0 0 0 rg BT 425.74 498.25 Td (Department ) Tj ET Q q 0 0 0 rg BT 474.92 498.25 Td (of ) Tj ET Q q 0 0 0 rg BT 485.23 498.25 Td (Housing ) Tj ET Q q 0 0 0 rg BT 521.10 498.25 Td (and ) Tj ET Q q 0 0 0 rg BT 537.52 498.25 Td (Urban ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.25 Td (Development ) Tj ET Q q 0 0 0 rg BT 105.83 486.25 Td (and ) Tj ET Q q 0 0 0 rg BT 122.72 486.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 142.78 486.25 Td (V) Tj ET Q q 0 0 0 rg BT 148.89 486.25 Td (eterans ) Tj ET Q q 0 0 0 rg BT 179.12 486.25 Td (Administration\) ) Tj ET Q q 0 0 0 rg BT 245.46 486.25 Td (of ) Tj ET Q q 0 0 0 rg BT 256.25 486.25 Td (those ) Tj ET Q q 0 0 0 rg BT 279.81 486.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 303.37 486.25 Td (for ) Tj ET Q q 0 0 0 rg BT 317.49 486.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 349.38 486.25 Td (ranging ) Tj ET Q q 0 0 0 rg BT 382.38 486.25 Td (from ) Tj ET Q q 0 0 0 rg BT 404.28 486.25 Td (five ) Tj ET Q q 0 0 0 rg BT 422.28 486.25 Td (to ) Tj ET Q q 0 0 0 rg BT 432.51 486.25 Td (thirty ) Tj ET Q q 0 0 0 rg BT 456.63 486.25 Td (years. ) Tj ET Q q 0 0 0 rg BT 482.69 486.25 Td ( ) Tj ET Q q 0 0 0 rg BT 484.60 486.25 Td (As ) Tj ET Q q 0 0 0 rg BT 498.17 486.25 Td (of ) Tj ET Q q 0 0 0 rg BT 508.95 486.25 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.19 486.25 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 474.25 Td ( ) Tj ET Q q 0 0 0 rg BT 73.02 474.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.97 474.25 Td (December ) Tj ET Q q 0 0 0 rg BT 135.58 474.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 151.59 474.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.59 474.25 Td (, ) Tj ET Q q 0 0 0 rg BT 177.61 474.25 Td (the ) Tj ET Q q 0 0 0 rg BT 193.35 474.25 Td (total ) Tj ET Q q 0 0 0 rg BT 214.64 474.25 Td (of ) Tj ET Q q 0 0 0 rg BT 226.49 474.25 Td (all ) Tj ET Q q 0 0 0 rg BT 240.00 474.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 264.63 474.25 Td (indemnified ) Tj ET Q q 0 0 0 rg BT 316.47 474.25 Td (to ) Tj ET Q q 0 0 0 rg BT 327.76 474.25 Td (third ) Tj ET Q q 0 0 0 rg BT 350.17 474.25 Td (party ) Tj ET Q q 0 0 0 rg BT 374.23 474.25 Td (insurers ) Tj ET Q q 0 0 0 rg BT 409.41 474.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 443.47 474.25 Td (to ) Tj ET Q q 0 0 0 rg BT 454.77 474.25 Td (the ) Tj ET Q q 0 0 0 rg BT 470.50 474.25 Td (above ) Tj ET Q q 0 0 0 rg BT 497.90 474.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 546.95 474.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.25 Td ($1.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 462.25 Td (. ) Tj ET Q q 0 0 0 rg BT 104.24 462.25 Td ( ) Tj ET Q q 0 0 0 rg BT 107.35 462.25 Td (The ) Tj ET Q q 0 0 0 rg BT 126.24 462.25 Td (maximum ) Tj ET Q q 0 0 0 rg BT 170.14 462.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 208.48 462.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 241.83 462.25 Td (of ) Tj ET Q q 0 0 0 rg BT 253.50 462.25 Td (future ) Tj ET Q q 0 0 0 rg BT 280.73 462.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 322.40 462.25 Td (is ) Tj ET Q q 0 0 0 rg BT 332.42 462.25 Td (equal ) Tj ET Q q 0 0 0 rg BT 357.43 462.25 Td (to ) Tj ET Q q 0 0 0 rg BT 368.55 462.25 Td (the ) Tj ET Q q 0 0 0 rg BT 384.12 462.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 434.13 462.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 454.70 462.25 Td (value ) Tj ET Q q 0 0 0 rg BT 479.70 462.25 Td (less ) Tj ET Q q 0 0 0 rg BT 498.05 462.25 Td (the ) Tj ET Q q 0 0 0 rg BT 513.62 462.25 Td (value ) Tj ET Q q 0 0 0 rg BT 538.62 462.25 Td (of ) Tj ET Q q 0 0 0 rg BT 550.30 462.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 95.33 450.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 117.26 450.25 Td (plus ) Tj ET Q q 0 0 0 rg BT 136.43 450.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 196.14 450.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 218.64 450.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 254.46 450.25 Td (related ) Tj ET Q q 0 0 0 rg BT 284.16 450.25 Td (to ) Tj ET Q q 0 0 0 rg BT 294.44 450.25 Td (foreclosure ) Tj ET Q q 0 0 0 rg BT 341.91 450.25 Td (on ) Tj ET Q q 0 0 0 rg BT 354.41 450.25 Td (the ) Tj ET Q q 0 0 0 rg BT 369.13 450.25 Td (loans, ) Tj ET Q q 0 0 0 rg BT 395.24 450.25 Td (should ) Tj ET Q q 0 0 0 rg BT 424.41 450.25 Td (this ) Tj ET Q q 0 0 0 rg BT 441.36 450.25 Td (event ) Tj ET Q q 0 0 0 rg BT 465.51 450.25 Td (occur) Tj ET Q q 0 0 0 rg BT 487.17 450.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.25 Td (The ) Tj ET Q q 0 0 0 rg BT 68.12 428.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 110.09 428.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 148.14 428.25 Td (a ) Tj ET Q q 0 0 0 rg BT 155.66 428.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 189.84 428.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 223.46 428.25 Td (to ) Tj ET Q q 0 0 0 rg BT 234.32 428.25 Td (the ) Tj ET Q q 0 0 0 rg BT 249.61 428.25 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 295.45 428.25 Td (described ) Tj ET Q q 0 0 0 rg BT 336.84 428.25 Td (above ) Tj ET Q q 0 0 0 rg BT 363.79 428.25 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.42 428.25 Td ($0.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.31 428.25 Td ( ) Tj ET Q q 0 0 0 rg BT 449.39 428.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.91 428.25 Td ($0.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 428.25 Td ( ) Tj ET Q q 0 0 0 rg BT 518.88 428.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.17 428.25 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 416.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 416.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.00 416.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.94 416.25 Td (December ) Tj ET Q q 0 0 0 rg BT 132.52 416.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 147.52 416.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.52 416.25 Td (, ) Tj ET Q q 0 0 0 rg BT 172.52 416.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 220.18 416.25 Td (, ) Tj ET Q q 0 0 0 rg BT 225.18 416.25 Td (which ) Tj ET Q q 0 0 0 rg BT 252.12 416.25 Td (is ) Tj ET Q q 0 0 0 rg BT 261.29 416.25 Td (management) Tj ET Q q 0 0 0 rg BT 315.16 416.25 Td (s ) Tj ET Q q 0 0 0 rg BT 321.55 416.25 Td (best ) Tj ET Q q 0 0 0 rg BT 340.16 416.25 Td (estimate ) Tj ET Q q 0 0 0 rg BT 375.98 416.25 Td (of ) Tj ET Q q 0 0 0 rg BT 386.81 416.25 Td (the ) Tj ET Q q 0 0 0 rg BT 401.53 416.25 Td (Company) Tj ET Q q 0 0 0 rg BT 443.19 416.25 Td (s ) Tj ET Q q 0 0 0 rg BT 449.58 416.25 Td (liability) Tj ET Q q 0 0 0 rg BT 480.04 416.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 394.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.34 394.25 Td (6. ) Tj ET Q q 0 0 0 rg BT 90.34 394.25 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 153.38 394.25 Td (and ) Tj ET Q q 0 0 0 rg BT 172.00 394.25 Td (Contingencies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 372.25 Td (W) Tj ET Q q 0 0 0 rg BT 57.65 372.25 Td (arranty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 350.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 350.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.22 350.25 Td (use ) Tj ET Q q 0 0 0 rg BT 81.20 350.25 Td (subcontractors ) Tj ET Q q 0 0 0 rg BT 142.16 350.25 Td (for ) Tj ET Q q 0 0 0 rg BT 156.47 350.25 Td (nearly ) Tj ET Q q 0 0 0 rg BT 184.10 350.25 Td (all ) Tj ET Q q 0 0 0 rg BT 196.74 350.25 Td (aspects ) Tj ET Q q 0 0 0 rg BT 228.26 350.25 Td (of ) Tj ET Q q 0 0 0 rg BT 239.24 350.25 Td (home ) Tj ET Q q 0 0 0 rg BT 264.10 350.25 Td (construction. ) Tj ET Q q 0 0 0 rg BT 318.68 350.25 Td ( ) Tj ET Q q 0 0 0 rg BT 320.75 350.25 Td (Although ) Tj ET Q q 0 0 0 rg BT 361.17 350.25 Td (our ) Tj ET Q q 0 0 0 rg BT 377.15 350.25 Td (subcontractors ) Tj ET Q q 0 0 0 rg BT 438.11 350.25 Td (are ) Tj ET Q q 0 0 0 rg BT 452.96 350.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 492.81 350.25 Td (required ) Tj ET Q q 0 0 0 rg BT 528.77 350.25 Td (to ) Tj ET Q q 0 0 0 rg BT 539.20 350.25 Td (repair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 338.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.11 338.25 Td (replace ) Tj ET Q q 0 0 0 rg BT 97.14 338.25 Td (any ) Tj ET Q q 0 0 0 rg BT 113.74 338.25 Td (product ) Tj ET Q q 0 0 0 rg BT 146.46 338.25 Td (or ) Tj ET Q q 0 0 0 rg BT 156.96 338.25 Td (labor ) Tj ET Q q 0 0 0 rg BT 179.67 338.25 Td (defects, ) Tj ET Q q 0 0 0 rg BT 212.65 338.25 Td (we ) Tj ET Q q 0 0 0 rg BT 226.48 338.25 Td (are, ) Tj ET Q q 0 0 0 rg BT 243.36 338.25 Td (during ) Tj ET Q q 0 0 0 rg BT 271.63 338.25 Td (applicable ) Tj ET Q q 0 0 0 rg BT 314.89 338.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 352.60 338.25 Td (periods, ) Tj ET Q q 0 0 0 rg BT 386.70 338.25 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 429.42 338.25 Td (responsible ) Tj ET Q q 0 0 0 rg BT 477.13 338.25 Td (to ) Tj ET Q q 0 0 0 rg BT 487.08 338.25 Td (the ) Tj ET Q q 0 0 0 rg BT 501.46 338.25 Td (homeowner ) Tj ET Q q 0 0 0 rg BT 550.84 338.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 326.25 Td (making ) Tj ET Q q 0 0 0 rg BT 81.63 326.25 Td (such ) Tj ET Q q 0 0 0 rg BT 102.10 326.25 Td (repairs. ) Tj ET Q q 0 0 0 rg BT 133.94 326.25 Td ( ) Tj ET Q q 0 0 0 rg BT 135.61 326.25 Td (As ) Tj ET Q q 0 0 0 rg BT 148.85 326.25 Td (such, ) Tj ET Q q 0 0 0 rg BT 171.82 326.25 Td (we ) Tj ET Q q 0 0 0 rg BT 185.62 326.25 Td (record ) Tj ET Q q 0 0 0 rg BT 213.29 326.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 250.96 326.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 285.86 326.25 Td (to ) Tj ET Q q 0 0 0 rg BT 295.77 326.25 Td (cover ) Tj ET Q q 0 0 0 rg BT 320.12 326.25 Td (our ) Tj ET Q q 0 0 0 rg BT 335.58 326.25 Td (exposure ) Tj ET Q q 0 0 0 rg BT 373.82 326.25 Td (to ) Tj ET Q q 0 0 0 rg BT 383.73 326.25 Td (the ) Tj ET Q q 0 0 0 rg BT 398.09 326.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 420.22 326.25 Td (for ) Tj ET Q q 0 0 0 rg BT 434.02 326.25 Td (materials ) Tj ET Q q 0 0 0 rg BT 472.81 326.25 Td (and ) Tj ET Q q 0 0 0 rg BT 489.38 326.25 Td (labor ) Tj ET Q q 0 0 0 rg BT 512.06 326.25 Td (not ) Tj ET Q q 0 0 0 rg BT 526.98 326.25 Td (expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 314.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.04 314.25 Td (be ) Tj ET Q q 0 0 0 rg BT 70.23 314.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 103.64 314.25 Td (by ) Tj ET Q q 0 0 0 rg BT 115.39 314.25 Td (our ) Tj ET Q q 0 0 0 rg BT 130.48 314.25 Td (subcontractors ) Tj ET Q q 0 0 0 rg BT 190.55 314.25 Td (to ) Tj ET Q q 0 0 0 rg BT 200.09 314.25 Td (the ) Tj ET Q q 0 0 0 rg BT 214.07 314.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 240.26 314.25 Td (they ) Tj ET Q q 0 0 0 rg BT 259.23 314.25 Td (relate ) Tj ET Q q 0 0 0 rg BT 283.19 314.25 Td (to ) Tj ET Q q 0 0 0 rg BT 292.73 314.25 Td (warranty-type ) Tj ET Q q 0 0 0 rg BT 350.57 314.25 Td (claims. ) Tj ET Q q 0 0 0 rg BT 380.93 314.25 Td ( ) Tj ET Q q 0 0 0 rg BT 382.56 314.25 Td (W) Tj ET Q q 0 0 0 rg BT 391.20 314.25 Td (arranty ) Tj ET Q q 0 0 0 rg BT 421.27 314.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 455.79 314.25 Td (are ) Tj ET Q q 0 0 0 rg BT 469.75 314.25 Td (established ) Tj ET Q q 0 0 0 rg BT 515.95 314.25 Td (by ) Tj ET Q q 0 0 0 rg BT 527.70 314.25 Td (char) Tj ET Q q 0 0 0 rg BT 544.73 314.25 Td (ging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 302.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 68.22 302.25 Td (of ) Tj ET Q q 0 0 0 rg BT 79.17 302.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 101.22 302.25 Td (and ) Tj ET Q q 0 0 0 rg BT 118.27 302.25 Td (crediting ) Tj ET Q q 0 0 0 rg BT 156.43 302.25 Td (a ) Tj ET Q q 0 0 0 rg BT 163.48 302.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 201.64 302.25 Td (reserve ) Tj ET Q q 0 0 0 rg BT 233.12 302.25 Td (for ) Tj ET Q q 0 0 0 rg BT 247.39 302.25 Td (each ) Tj ET Q q 0 0 0 rg BT 268.32 302.25 Td (home ) Tj ET Q q 0 0 0 rg BT 293.15 302.25 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 335.47 302.25 Td ( ) Tj ET Q q 0 0 0 rg BT 337.90 302.25 Td (W) Tj ET Q q 0 0 0 rg BT 346.54 302.25 Td (arranty ) Tj ET Q q 0 0 0 rg BT 377.47 302.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 412.84 302.25 Td (are ) Tj ET Q q 0 0 0 rg BT 427.66 302.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 465.25 302.25 Td (for ) Tj ET Q q 0 0 0 rg BT 479.53 302.25 Td (warranties ) Tj ET Q q 0 0 0 rg BT 523.79 302.25 Td (under ) Tj ET Q q 0 0 0 rg BT 549.17 302.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 290.25 Td (Home ) Tj ET Q q 0 0 0 rg BT 76.62 290.25 Td (Builder) Tj ET Q q 0 0 0 rg BT 106.99 290.25 Td () Tj ET Q q 0 0 0 rg BT 109.77 290.25 Td (s ) Tj ET Q q 0 0 0 rg BT 116.34 290.25 Td (Limited ) Tj ET Q q 0 0 0 rg BT 150.49 290.25 Td (W) Tj ET Q q 0 0 0 rg BT 159.13 290.25 Td (arranty ) Tj ET Q q 0 0 0 rg BT 190.12 290.25 Td (\(HBL) Tj ET Q q 0 0 0 rg BT 217.15 290.25 Td (W\), ) Tj ET Q q 0 0 0 rg BT 239.54 290.25 Td (and ) Tj ET Q q 0 0 0 rg BT 256.66 290.25 Td (our ) Tj ET Q q 0 0 0 rg BT 272.67 290.25 Td (30-year ) Tj ET Q q 0 0 0 rg BT 305.89 290.25 Td (\(of) Tj ET Q q 0 0 0 rg BT 317.37 290.25 Td (fered ) Tj ET Q q 0 0 0 rg BT 340.59 290.25 Td (on ) Tj ET Q q 0 0 0 rg BT 353.27 290.25 Td (all ) Tj ET Q q 0 0 0 rg BT 365.95 290.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 394.74 290.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 414.09 290.25 Td (after ) Tj ET Q q 0 0 0 rg BT 434.50 290.25 Td (April ) Tj ET Q q 0 0 0 rg BT 458.29 290.25 Td (25, ) Tj ET Q q 0 0 0 rg BT 473.47 290.25 Td (1998 ) Tj ET Q q 0 0 0 rg BT 496.15 290.25 Td (and ) Tj ET Q q 0 0 0 rg BT 513.27 290.25 Td (on ) Tj ET Q q 0 0 0 rg BT 525.95 290.25 Td (or ) Tj ET Q q 0 0 0 rg BT 536.97 290.25 Td (before ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 278.25 Td (December ) Tj ET Q q 0 0 0 rg BT 93.01 278.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 102.94 278.25 Td (2015 ) Tj ET Q q 0 0 0 rg BT 125.37 278.25 Td (in ) Tj ET Q q 0 0 0 rg BT 135.58 278.25 Td (all ) Tj ET Q q 0 0 0 rg BT 148.00 278.25 Td (of ) Tj ET Q q 0 0 0 rg BT 158.76 278.25 Td (our ) Tj ET Q q 0 0 0 rg BT 174.52 278.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 208.60 278.25 Td (except ) Tj ET Q q 0 0 0 rg BT 237.12 278.25 Td (our ) Tj ET Q q 0 0 0 rg BT 252.70 278.25 Td (T) Tj ET Q q 0 0 0 rg BT 258.11 278.25 Td (exas ) Tj ET Q q 0 0 0 rg BT 278.31 278.25 Td (markets\), ) Tj ET Q q 0 0 0 rg BT 318.22 278.25 Td (15-year ) Tj ET Q q 0 0 0 rg BT 351.19 278.25 Td (\(of) Tj ET Q q 0 0 0 rg BT 362.67 278.25 Td (fered ) Tj ET Q q 0 0 0 rg BT 385.63 278.25 Td (on ) Tj ET Q q 0 0 0 rg BT 398.06 278.25 Td (all ) Tj ET Q q 0 0 0 rg BT 410.49 278.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 439.02 278.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 458.12 278.25 Td (after ) Tj ET Q q 0 0 0 rg BT 478.86 278.25 Td (December ) Tj ET Q q 0 0 0 rg BT 522.38 278.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 532.30 278.25 Td (2015 ) Tj ET Q q 0 0 0 rg BT 554.73 278.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 266.25 Td (all ) Tj ET Q q 0 0 0 rg BT 62.23 266.25 Td (of ) Tj ET Q q 0 0 0 rg BT 73.29 266.25 Td (our ) Tj ET Q q 0 0 0 rg BT 89.35 266.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 123.73 266.25 Td (except ) Tj ET Q q 0 0 0 rg BT 152.56 266.25 Td (our ) Tj ET Q q 0 0 0 rg BT 168.42 266.25 Td (T) Tj ET Q q 0 0 0 rg BT 173.83 266.25 Td (exas ) Tj ET Q q 0 0 0 rg BT 194.33 266.25 Td (markets\) ) Tj ET Q q 0 0 0 rg BT 232.05 266.25 Td (or ) Tj ET Q q 0 0 0 rg BT 243.11 266.25 Td (10-year ) Tj ET Q q 0 0 0 rg BT 276.38 266.25 Td (\(of) Tj ET Q q 0 0 0 rg BT 287.86 266.25 Td (fered ) Tj ET Q q 0 0 0 rg BT 311.13 266.25 Td (on ) Tj ET Q q 0 0 0 rg BT 323.86 266.25 Td (all ) Tj ET Q q 0 0 0 rg BT 336.58 266.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 365.42 266.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 384.82 266.25 Td (in ) Tj ET Q q 0 0 0 rg BT 395.33 266.25 Td (our ) Tj ET Q q 0 0 0 rg BT 411.19 266.25 Td (T) Tj ET Q q 0 0 0 rg BT 416.60 266.25 Td (exas ) Tj ET Q q 0 0 0 rg BT 437.10 266.25 Td (markets\) ) Tj ET Q q 0 0 0 rg BT 474.82 266.25 Td (transferable ) Tj ET Q q 0 0 0 rg BT 524.74 266.25 Td (structural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 254.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 87.54 254.25 Td (in ) Tj ET Q q 0 0 0 rg BT 97.82 254.25 Td (Other ) Tj ET Q q 0 0 0 rg BT 123.08 254.25 Td (Liabilities ) Tj ET Q q 0 0 0 rg BT 166.13 254.25 Td (on ) Tj ET Q q 0 0 0 rg BT 178.63 254.25 Td (the ) Tj ET Q q 0 0 0 rg BT 193.35 254.25 Td (Company) Tj ET Q q 0 0 0 rg BT 235.01 254.25 Td (s ) Tj ET Q q 0 0 0 rg BT 241.40 254.25 Td (Unaudited ) Tj ET Q q 0 0 0 rg BT 285.56 254.25 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 332.50 254.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 387.77 254.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 422.47 254.25 Td (Sheets. ) Tj ET Q q 0 0 0 rg BT 453.58 254.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 232.25 Td (The ) Tj ET Q q 0 0 0 rg BT 66.70 232.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 103.89 232.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 138.30 232.25 Td (for ) Tj ET Q q 0 0 0 rg BT 151.61 232.25 Td (the ) Tj ET Q q 0 0 0 rg BT 165.48 232.25 Td (HBL) Tj ET Q q 0 0 0 rg BT 184.74 232.25 Td (W) Tj ET Q q 0 0 0 rg BT 194.00 232.25 Td ( ) Tj ET Q q 0 0 0 rg BT 195.65 232.25 Td (are ) Tj ET Q q 0 0 0 rg BT 209.51 232.25 Td (established ) Tj ET Q q 0 0 0 rg BT 255.60 232.25 Td (as ) Tj ET Q q 0 0 0 rg BT 265.58 232.25 Td (a ) Tj ET Q q 0 0 0 rg BT 271.67 232.25 Td (percentage ) Tj ET Q q 0 0 0 rg BT 316.63 232.25 Td (of ) Tj ET Q q 0 0 0 rg BT 326.61 232.25 Td (average ) Tj ET Q q 0 0 0 rg BT 359.35 232.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 380.44 232.25 Td (price ) Tj ET Q q 0 0 0 rg BT 402.08 232.25 Td (and ) Tj ET Q q 0 0 0 rg BT 418.17 232.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 453.15 232.25 Td (based ) Tj ET Q q 0 0 0 rg BT 477.57 232.25 Td (on ) Tj ET Q q 0 0 0 rg BT 489.22 232.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 528.08 232.25 Td (payment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 220.25 Td (patterns ) Tj ET Q q 0 0 0 rg BT 84.50 220.25 Td (determined, ) Tj ET Q q 0 0 0 rg BT 135.33 220.25 Td (generally) Tj ET Q q 0 0 0 rg BT 171.88 220.25 Td (, ) Tj ET Q q 0 0 0 rg BT 177.73 220.25 Td (by ) Tj ET Q q 0 0 0 rg BT 191.08 220.25 Td (geographic ) Tj ET Q q 0 0 0 rg BT 238.85 220.25 Td (area ) Tj ET Q q 0 0 0 rg BT 258.84 220.25 Td (and ) Tj ET Q q 0 0 0 rg BT 276.63 220.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 304.40 220.25 Td (trends. ) Tj ET Q q 0 0 0 rg BT 334.68 220.25 Td ( ) Tj ET Q q 0 0 0 rg BT 338.03 220.25 Td (Factors ) Tj ET Q q 0 0 0 rg BT 370.82 220.25 Td (that ) Tj ET Q q 0 0 0 rg BT 389.16 220.25 Td (are ) Tj ET Q q 0 0 0 rg BT 404.71 220.25 Td (given ) Tj ET Q q 0 0 0 rg BT 430.28 220.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 487.50 220.25 Td (in ) Tj ET Q q 0 0 0 rg BT 498.62 220.25 Td (determining ) Tj ET Q q 0 0 0 rg BT 550.29 220.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 208.25 Td (HBL) Tj ET Q q 0 0 0 rg BT 68.76 208.25 Td (W) Tj ET Q q 0 0 0 rg BT 78.02 208.25 Td ( ) Tj ET Q q 0 0 0 rg BT 80.50 208.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 115.75 208.25 Td (include: ) Tj ET Q q 0 0 0 rg BT 150.44 208.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 164.59 208.25 Td (the ) Tj ET Q q 0 0 0 rg BT 179.29 208.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 218.99 208.25 Td (range ) Tj ET Q q 0 0 0 rg BT 243.68 208.25 Td (of ) Tj ET Q q 0 0 0 rg BT 254.50 208.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 290.87 208.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 310.57 208.25 Td (per ) Tj ET Q q 0 0 0 rg BT 325.82 208.25 Td (average ) Tj ET Q q 0 0 0 rg BT 359.39 208.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 381.32 208.25 Td (price ) Tj ET Q q 0 0 0 rg BT 403.79 208.25 Td (on ) Tj ET Q q 0 0 0 rg BT 416.27 208.25 Td (a ) Tj ET Q q 0 0 0 rg BT 423.20 208.25 Td (home; ) Tj ET Q q 0 0 0 rg BT 450.68 208.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 464.82 208.25 Td (type ) Tj ET Q q 0 0 0 rg BT 484.52 208.25 Td (and ) Tj ET Q q 0 0 0 rg BT 501.45 208.25 Td (mix ) Tj ET Q q 0 0 0 rg BT 519.49 208.25 Td (of ) Tj ET Q q 0 0 0 rg BT 530.31 208.25 Td (amenity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 196.25 Td (packages ) Tj ET Q q 0 0 0 rg BT 88.89 196.25 Td (added ) Tj ET Q q 0 0 0 rg BT 115.50 196.25 Td (to ) Tj ET Q q 0 0 0 rg BT 126.02 196.25 Td (the ) Tj ET Q q 0 0 0 rg BT 140.98 196.25 Td (home; ) Tj ET Q q 0 0 0 rg BT 168.72 196.25 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 183.12 196.25 Td (any ) Tj ET Q q 0 0 0 rg BT 200.30 196.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 238.57 196.25 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 292.41 196.25 Td (not ) Tj ET Q q 0 0 0 rg BT 307.93 196.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 353.98 196.25 Td (to ) Tj ET Q q 0 0 0 rg BT 364.50 196.25 Td (be ) Tj ET Q q 0 0 0 rg BT 376.68 196.25 Td (normal ) Tj ET Q q 0 0 0 rg BT 407.75 196.25 Td (and ) Tj ET Q q 0 0 0 rg BT 424.93 196.25 Td (recurring; ) Tj ET Q q 0 0 0 rg BT 467.09 196.25 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 481.49 196.25 Td (timing ) Tj ET Q q 0 0 0 rg BT 510.35 196.25 Td (of ) Tj ET Q q 0 0 0 rg BT 521.42 196.25 Td (payments; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 184.25 Td (\(5\) ) Tj ET Q q 0 0 0 rg BT 63.77 184.25 Td (improvements ) Tj ET Q q 0 0 0 rg BT 123.60 184.25 Td (in ) Tj ET Q q 0 0 0 rg BT 133.99 184.25 Td (quality ) Tj ET Q q 0 0 0 rg BT 164.38 184.25 Td (of ) Tj ET Q q 0 0 0 rg BT 175.33 184.25 Td (construction ) Tj ET Q q 0 0 0 rg BT 227.38 184.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 265.52 184.25 Td (to ) Tj ET Q q 0 0 0 rg BT 275.92 184.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 305.74 184.25 Td (future ) Tj ET Q q 0 0 0 rg BT 332.23 184.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 370.39 184.25 Td (expenditures; ) Tj ET Q q 0 0 0 rg BT 426.87 184.25 Td (and ) Tj ET Q q 0 0 0 rg BT 443.93 184.25 Td (\(6\) ) Tj ET Q q 0 0 0 rg BT 458.20 184.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 502.48 184.25 Td (that ) Tj ET Q q 0 0 0 rg BT 520.09 184.25 Td (may ) Tj ET Q q 0 0 0 rg BT 539.92 184.25 Td (af) Tj ET Q q 0 0 0 rg BT 547.51 184.25 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 172.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 79.94 172.25 Td (projects ) Tj ET Q q 0 0 0 rg BT 114.83 172.25 Td (and ) Tj ET Q q 0 0 0 rg BT 132.50 172.25 Td (require ) Tj ET Q q 0 0 0 rg BT 164.05 172.25 Td (a ) Tj ET Q q 0 0 0 rg BT 171.72 172.25 Td (dif) Tj ET Q q 0 0 0 rg BT 182.65 172.25 Td (ferent ) Tj ET Q q 0 0 0 rg BT 209.20 172.25 Td (percentage ) Tj ET Q q 0 0 0 rg BT 255.74 172.25 Td (of ) Tj ET Q q 0 0 0 rg BT 267.30 172.25 Td (average ) Tj ET Q q 0 0 0 rg BT 301.62 172.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 324.29 172.25 Td (price ) Tj ET Q q 0 0 0 rg BT 347.52 172.25 Td (for ) Tj ET Q q 0 0 0 rg BT 362.41 172.25 Td (those ) Tj ET Q q 0 0 0 rg BT 386.75 172.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 421.08 172.25 Td (projects. ) Tj ET Q q 0 0 0 rg BT 458.47 172.25 Td ( ) Tj ET Q q 0 0 0 rg BT 461.71 172.25 Td (Changes ) Tj ET Q q 0 0 0 rg BT 499.38 172.25 Td (in ) Tj ET Q q 0 0 0 rg BT 510.39 172.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 550.84 172.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 160.25 Td (warranties ) Tj ET Q q 0 0 0 rg BT 95.49 160.25 Td (occur ) Tj ET Q q 0 0 0 rg BT 122.04 160.25 Td (due ) Tj ET Q q 0 0 0 rg BT 140.82 160.25 Td (to ) Tj ET Q q 0 0 0 rg BT 152.95 160.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 189.50 160.25 Td (in ) Tj ET Q q 0 0 0 rg BT 201.62 160.25 Td (the ) Tj ET Q q 0 0 0 rg BT 218.18 160.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 259.74 160.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 298.52 160.25 Td (experience ) Tj ET Q q 0 0 0 rg BT 346.16 160.25 Td (and ) Tj ET Q q 0 0 0 rg BT 364.94 160.25 Td (dif) Tj ET Q q 0 0 0 rg BT 375.87 160.25 Td (ferences ) Tj ET Q q 0 0 0 rg BT 413.52 160.25 Td (between ) Tj ET Q q 0 0 0 rg BT 451.18 160.25 Td (the ) Tj ET Q q 0 0 0 rg BT 467.74 160.25 Td (actual ) Tj ET Q q 0 0 0 rg BT 495.96 160.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 534.74 160.25 Td (pattern ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 148.25 Td (experienced ) Tj ET Q q 0 0 0 rg BT 100.02 148.25 Td (during ) Tj ET Q q 0 0 0 rg BT 128.34 148.25 Td (the ) Tj ET Q q 0 0 0 rg BT 142.78 148.25 Td (period ) Tj ET Q q 0 0 0 rg BT 170.54 148.25 Td (and ) Tj ET Q q 0 0 0 rg BT 187.20 148.25 Td (the ) Tj ET Q q 0 0 0 rg BT 201.63 148.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 241.06 148.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 277.71 148.25 Td (pattern ) Tj ET Q q 0 0 0 rg BT 307.69 148.25 Td (used ) Tj ET Q q 0 0 0 rg BT 328.24 148.25 Td (in ) Tj ET Q q 0 0 0 rg BT 338.23 148.25 Td (our ) Tj ET Q q 0 0 0 rg BT 353.78 148.25 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 397.64 148.25 Td (of ) Tj ET Q q 0 0 0 rg BT 408.19 148.25 Td (the ) Tj ET Q q 0 0 0 rg BT 422.63 148.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 460.38 148.25 Td (reserve ) Tj ET Q q 0 0 0 rg BT 491.46 148.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 524.21 148.25 Td (at ) Tj ET Q q 0 0 0 rg BT 533.65 148.25 Td (the ) Tj ET Q q 0 0 0 rg BT 548.08 148.25 Td (end ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 136.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 136.25 Td (each ) Tj ET Q q 0 0 0 rg BT 81.15 136.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 108.91 136.25 Td (. ) Tj ET Q q 0 0 0 rg BT 113.91 136.25 Td ( ) Tj ET Q q 0 0 0 rg BT 115.86 136.25 Td (Actual ) Tj ET Q q 0 0 0 rg BT 145.01 136.25 Td (future ) Tj ET Q q 0 0 0 rg BT 171.39 136.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 209.43 136.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 231.93 136.25 Td (could ) Tj ET Q q 0 0 0 rg BT 256.64 136.25 Td (dif) Tj ET Q q 0 0 0 rg BT 267.57 136.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 281.17 136.25 Td (from ) Tj ET Q q 0 0 0 rg BT 303.11 136.25 Td (our ) Tj ET Q q 0 0 0 rg BT 318.94 136.25 Td (current ) Tj ET Q q 0 0 0 rg BT 349.75 136.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 390.57 136.25 Td (amount.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.64 114.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 105.77 114.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 141.12 114.25 Td (for ) Tj ET Q q 0 0 0 rg BT 155.38 114.25 Td (our ) Tj ET Q q 0 0 0 rg BT 171.30 114.25 Td (transferable ) Tj ET Q q 0 0 0 rg BT 221.08 114.25 Td (structural ) Tj ET Q q 0 0 0 rg BT 261.44 114.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 299.57 114.25 Td (programs ) Tj ET Q q 0 0 0 rg BT 339.93 114.25 Td (are ) Tj ET Q q 0 0 0 rg BT 354.72 114.25 Td (established ) Tj ET Q q 0 0 0 rg BT 401.75 114.25 Td (on ) Tj ET Q q 0 0 0 rg BT 414.34 114.25 Td (a ) Tj ET Q q 0 0 0 rg BT 421.37 114.25 Td (per) Tj ET Q q 0 0 0 rg BT 433.94 114.25 Td (-unit ) Tj ET Q q 0 0 0 rg BT 455.42 114.25 Td (basis. ) Tj ET Q q 0 0 0 rg BT 480.51 114.25 Td ( ) Tj ET Q q 0 0 0 rg BT 482.92 114.25 Td (While ) Tj ET Q q 0 0 0 rg BT 509.94 114.25 Td (the ) Tj ET Q q 0 0 0 rg BT 524.75 114.25 Td (structural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 87.26 102.25 Td (reserve ) Tj ET Q q 0 0 0 rg BT 118.35 102.25 Td (is ) Tj ET Q q 0 0 0 rg BT 127.24 102.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 164.44 102.25 Td (as ) Tj ET Q q 0 0 0 rg BT 174.99 102.25 Td (each ) Tj ET Q q 0 0 0 rg BT 195.53 102.25 Td (house ) Tj ET Q q 0 0 0 rg BT 221.08 102.25 Td (is ) Tj ET Q q 0 0 0 rg BT 229.97 102.25 Td (delivered, ) Tj ET Q q 0 0 0 rg BT 271.89 102.25 Td (the ) Tj ET Q q 0 0 0 rg BT 286.33 102.25 Td (suf) Tj ET Q q 0 0 0 rg BT 298.37 102.25 Td (ficiency ) Tj ET Q q 0 0 0 rg BT 332.80 102.25 Td (of ) Tj ET Q q 0 0 0 rg BT 343.35 102.25 Td (the ) Tj ET Q q 0 0 0 rg BT 357.79 102.25 Td (structural ) Tj ET Q q 0 0 0 rg BT 397.77 102.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 435.53 102.25 Td (per ) Tj ET Q q 0 0 0 rg BT 450.52 102.25 Td (unit ) Tj ET Q q 0 0 0 rg BT 468.30 102.25 Td (char) Tj ET Q q 0 0 0 rg BT 485.33 102.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 496.99 102.25 Td (and ) Tj ET Q q 0 0 0 rg BT 513.65 102.25 Td (total ) Tj ET Q q 0 0 0 rg BT 533.64 102.25 Td (reserve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.25 Td (is ) Tj ET Q q 0 0 0 rg BT 59.66 90.25 Td (re-evaluated ) Tj ET Q q 0 0 0 rg BT 112.56 90.25 Td (on ) Tj ET Q q 0 0 0 rg BT 126.05 90.25 Td (an ) Tj ET Q q 0 0 0 rg BT 138.97 90.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 169.12 90.25 Td (basis, ) Tj ET Q q 0 0 0 rg BT 195.11 90.25 Td (with ) Tj ET Q q 0 0 0 rg BT 216.37 90.25 Td (the ) Tj ET Q q 0 0 0 rg BT 232.08 90.25 Td (assistance ) Tj ET Q q 0 0 0 rg BT 275.55 90.25 Td (of ) Tj ET Q q 0 0 0 rg BT 287.37 90.25 Td (an ) Tj ET Q q 0 0 0 rg BT 300.30 90.25 Td (actuary) Tj ET Q q 0 0 0 rg BT 329.07 90.25 Td (, ) Tj ET Q q 0 0 0 rg BT 335.06 90.25 Td (using ) Tj ET Q q 0 0 0 rg BT 360.22 90.25 Td (our ) Tj ET Q q 0 0 0 rg BT 377.04 90.25 Td (own ) Tj ET Q q 0 0 0 rg BT 397.75 90.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 438.45 90.25 Td (data ) Tj ET Q q 0 0 0 rg BT 458.59 90.25 Td (and ) Tj ET Q q 0 0 0 rg BT 476.52 90.25 Td (trends, ) Tj ET Q q 0 0 0 rg BT 506.95 90.25 Td (industry-wide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 88.63 78.25 Td (data ) Tj ET Q q 0 0 0 rg BT 107.21 78.25 Td (and ) Tj ET Q q 0 0 0 rg BT 123.56 78.25 Td (trends, ) Tj ET Q q 0 0 0 rg BT 152.42 78.25 Td (and ) Tj ET Q q 0 0 0 rg BT 168.78 78.25 Td (other ) Tj ET Q q 0 0 0 rg BT 191.24 78.25 Td (project ) Tj ET Q q 0 0 0 rg BT 220.93 78.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 253.94 78.25 Td (factors. ) Tj ET Q q 0 0 0 rg BT 285.56 78.25 Td ( ) Tj ET Q q 0 0 0 rg BT 287.34 78.25 Td (The ) Tj ET Q q 0 0 0 rg BT 304.81 78.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 339.49 78.25 Td (are ) Tj ET Q q 0 0 0 rg BT 353.61 78.25 Td (also ) Tj ET Q q 0 0 0 rg BT 371.64 78.25 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 411.87 78.25 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 449.88 78.25 Td (and ) Tj ET Q q 0 0 0 rg BT 466.24 78.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 501.49 78.25 Td (if ) Tj ET Q q 0 0 0 rg BT 509.51 78.25 Td (we ) Tj ET Q q 0 0 0 rg BT 523.09 78.25 Td (encounter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.25 Td (activity ) Tj ET Q q 0 0 0 rg BT 81.64 66.25 Td (that ) Tj ET Q q 0 0 0 rg BT 98.79 66.25 Td (is ) Tj ET Q q 0 0 0 rg BT 107.61 66.25 Td (inconsistent ) Tj ET Q q 0 0 0 rg BT 157.54 66.25 Td (with ) Tj ET Q q 0 0 0 rg BT 177.47 66.25 Td (the ) Tj ET Q q 0 0 0 rg BT 191.84 66.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 231.20 66.25 Td (experience ) Tj ET Q q 0 0 0 rg BT 276.66 66.25 Td (used ) Tj ET Q q 0 0 0 rg BT 297.14 66.25 Td (in ) Tj ET Q q 0 0 0 rg BT 307.07 66.25 Td (the ) Tj ET Q q 0 0 0 rg BT 321.44 66.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 350.25 66.25 Td (analysis. ) Tj ET Q q 0 0 0 rg BT 387.11 66.25 Td ( ) Tj ET Q q 0 0 0 rg BT 389.11 66.25 Td (These ) Tj ET Q q 0 0 0 rg BT 415.14 66.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 450.05 66.25 Td (are ) Tj ET Q q 0 0 0 rg BT 464.41 66.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 494.89 66.25 Td (to ) Tj ET Q q 0 0 0 rg BT 504.82 66.25 Td (variability ) Tj ET Q q 0 0 0 rg BT 548.07 66.25 Td (due ) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.67 740.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 113.14 740.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 153.85 740.10 Td (structural ) Tj ET Q q 0 0 0 rg BT 194.00 740.10 Td (defect ) Tj ET Q q 0 0 0 rg BT 220.81 740.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 249.30 740.10 Td (for ) Tj ET Q q 0 0 0 rg BT 263.35 740.10 Td (products ) Tj ET Q q 0 0 0 rg BT 300.17 740.10 Td (we ) Tj ET Q q 0 0 0 rg BT 314.22 740.10 Td (build, ) Tj ET Q q 0 0 0 rg BT 339.67 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.27 740.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 388.31 740.10 Td (in ) Tj ET Q q 0 0 0 rg BT 398.48 740.10 Td (which ) Tj ET Q q 0 0 0 rg BT 425.31 740.10 Td (we ) Tj ET Q q 0 0 0 rg BT 439.35 740.10 Td (build, ) Tj ET Q q 0 0 0 rg BT 464.80 740.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 489.40 740.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 532.88 740.10 Td (history) Tj ET Q q 0 0 0 rg BT 560.01 740.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 90.32 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 107.25 728.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 129.19 728.10 Td (interpretations, ) Tj ET Q q 0 0 0 rg BT 191.95 728.10 Td (among ) Tj ET Q q 0 0 0 rg BT 221.66 728.10 Td (other ) Tj ET Q q 0 0 0 rg BT 244.71 728.10 Td (factors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.10 Td (While ) Tj ET Q q 0 0 0 rg BT 76.45 706.10 Td (we ) Tj ET Q q 0 0 0 rg BT 90.63 706.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 122.02 706.10 Td (that ) Tj ET Q q 0 0 0 rg BT 139.53 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 155.38 706.10 Td (warranty ) Tj ET Q q 0 0 0 rg BT 193.43 706.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 228.71 706.10 Td (are ) Tj ET Q q 0 0 0 rg BT 243.43 706.10 Td (suf) Tj ET Q q 0 0 0 rg BT 255.47 706.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 283.53 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 293.83 706.10 Td (cover ) Tj ET Q q 0 0 0 rg BT 318.55 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 334.40 706.10 Td (projected ) Tj ET Q q 0 0 0 rg BT 374.12 706.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 399.13 706.10 Td (there ) Tj ET Q q 0 0 0 rg BT 421.64 706.10 Td (can ) Tj ET Q q 0 0 0 rg BT 438.03 706.10 Td (be ) Tj ET Q q 0 0 0 rg BT 449.99 706.10 Td (no ) Tj ET Q q 0 0 0 rg BT 462.50 706.10 Td (assurances ) Tj ET Q q 0 0 0 rg BT 507.78 706.10 Td (that ) Tj ET Q q 0 0 0 rg BT 525.29 706.10 Td (historical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.10 Td (data ) Tj ET Q q 0 0 0 rg BT 68.66 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 85.59 694.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 112.53 694.10 Td (will ) Tj ET Q q 0 0 0 rg BT 130.59 694.10 Td (accurately ) Tj ET Q q 0 0 0 rg BT 174.17 694.10 Td (predict ) Tj ET Q q 0 0 0 rg BT 204.43 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 220.26 694.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 246.63 694.10 Td (warranty ) Tj ET Q q 0 0 0 rg BT 284.67 694.10 Td (costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 672.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 672.10 Td ( ) Tj ET Q q 0 0 0 rg BT 58.67 672.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 98.39 672.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.22 672.10 Td (warranty ) Tj ET Q q 0 0 0 rg BT 147.25 672.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 179.74 672.10 Td (for ) Tj ET Q q 0 0 0 rg BT 193.90 672.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.62 672.10 Td (three ) Tj ET Q q 0 0 0 rg BT 231.11 672.10 Td (and ) Tj ET Q q 0 0 0 rg BT 248.04 672.10 Td (six ) Tj ET Q q 0 0 0 rg BT 262.21 672.10 Td (months ) Tj ET Q q 0 0 0 rg BT 294.16 672.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 320.54 672.10 Td (June ) Tj ET Q q 0 0 0 rg BT 341.37 672.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 356.37 672.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 378.87 672.10 Td (and ) Tj ET Q q 0 0 0 rg BT 395.81 672.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.81 672.10 Td ( ) Tj ET Q q 0 0 0 rg BT 418.31 672.10 Td (is ) Tj ET Q q 0 0 0 rg BT 427.48 672.10 Td (as ) Tj ET Q q 0 0 0 rg BT 438.31 672.10 Td (follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 648.6 m 377 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 648.6 m 384 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 648.6 m 439 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 648.6 m 449 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 648.6 m 502 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 648.6 m 509 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 648.6 m 562 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 648.6 m 502 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 637.6 m 502 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 648.6 m 509 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 637.6 m 509 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 648.6 m 562 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 637.6 m 562 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 637.6 m 322 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 637.6 m 377 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 637.6 m 384 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 637.6 m 439 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 637.6 m 449 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 637.6 m 502 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 637.6 m 509 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 637.6 m 562 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 582.6 m 322 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 571.6 m 322 571.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 582.6 m 377 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 571.6 m 377 571.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 582.6 m 384 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 571.6 m 384 571.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 582.6 m 439 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 571.6 m 439 571.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 582.6 m 449 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 571.6 m 449 571.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 582.6 m 502 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 571.6 m 502 571.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 582.6 m 509 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 571.6 m 509 571.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 582.6 m 562 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 571.6 m 562 571.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.35 652.83 Td (Thr) Tj ET Q q 0 0 0 rg BT 341.61 652.83 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.20 652.83 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 640.55 Td (\(In ) Tj ET Q q 0 0 0 rg BT 62.83 640.55 Td (thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.00 640.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.00 640.55 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 640.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.00 640.55 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 629.55 Td (W) Tj ET Q q 0 0 0 rg BT 58.73 629.55 Td (arranty ) Tj ET Q q 0 0 0 rg BT 83.06 629.55 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 113.27 629.55 Td (beginning ) Tj ET Q q 0 0 0 rg BT 147.27 629.55 Td (of ) Tj ET Q q 0 0 0 rg BT 155.93 629.55 Td (period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 629.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.80 629.68 Td (24,301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 629.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 629.55 Td (24,980) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 629.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 629.68 Td (26,133) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 629.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 629.55 Td (27,732) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 618.55 Td (W) Tj ET Q q 0 0 0 rg BT 58.73 618.55 Td (arranty ) Tj ET Q q 0 0 0 rg BT 83.06 618.55 Td (expense ) Tj ET Q q 0 0 0 rg BT 110.83 618.55 Td (on ) Tj ET Q q 0 0 0 rg BT 120.83 618.55 Td (homes ) Tj ET Q q 0 0 0 rg BT 143.71 618.55 Td (delivered ) Tj ET Q q 0 0 0 rg BT 175.48 618.55 Td (during ) Tj ET Q q 0 0 0 rg BT 198.36 618.55 Td (the ) Tj ET Q q 0 0 0 rg BT 210.14 618.55 Td (period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.80 618.68 Td (3,299) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 618.55 Td (2,783) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 618.68 Td (5,842) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 618.55 Td (5,212) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 607.55 Td (Changes ) Tj ET Q q 0 0 0 rg BT 81.05 607.55 Td (in ) Tj ET Q q 0 0 0 rg BT 89.27 607.55 Td (estimates ) Tj ET Q q 0 0 0 rg BT 121.04 607.55 Td (for ) Tj ET Q q 0 0 0 rg BT 132.37 607.55 Td (pre-existing ) Tj ET Q q 0 0 0 rg BT 172.58 607.55 Td (warranties) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 607.68 Td (557) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 607.55 Td (332) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.80 607.68 Td (465) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 607.55 Td (1,062) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 596.55 Td (Char) Tj ET Q q 0 0 0 rg BT 66.91 596.55 Td (ges ) Tj ET Q q 0 0 0 rg BT 79.57 596.55 Td (related ) Tj ET Q q 0 0 0 rg BT 103.33 596.55 Td (to ) Tj ET Q q 0 0 0 rg BT 111.55 596.55 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 158.42 596.55 Td (claims ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 181.30 600.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.80 596.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 596.55 Td (8,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.80 596.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 596.55 Td (8,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 585.55 Td (Settlements ) Tj ET Q q 0 0 0 rg BT 90.83 585.55 Td (made ) Tj ET Q q 0 0 0 rg BT 110.15 585.55 Td (during ) Tj ET Q q 0 0 0 rg BT 133.04 585.55 Td (the ) Tj ET Q q 0 0 0 rg BT 144.81 585.55 Td (period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.10 585.68 Td (\(4,878) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.80 585.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.10 585.55 Td (\(6,292) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.80 585.55 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.10 585.68 Td (\(9,161) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.80 585.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 585.55 Td (\(12,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 585.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 574.55 Td (W) Tj ET Q q 0 0 0 rg BT 58.41 574.55 Td (arranty ) Tj ET Q q 0 0 0 rg BT 83.06 574.55 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 113.27 574.55 Td (end ) Tj ET Q q 0 0 0 rg BT 126.82 574.55 Td (of ) Tj ET Q q 0 0 0 rg BT 135.48 574.55 Td (period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 574.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.80 574.68 Td (23,279) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 574.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 574.55 Td (30,303) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 574.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 574.68 Td (23,279) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 574.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 574.55 Td (30,303) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 556.50 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 556.50 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 101.49 556.50 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 148.36 556.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 169.01 556.50 Td (costs, ) Tj ET Q q 0 0 0 rg BT 189.01 556.50 Td (as ) Tj ET Q q 0 0 0 rg BT 197.67 556.50 Td (described ) Tj ET Q q 0 0 0 rg BT 230.32 556.50 Td (below) Tj ET Q q 0 0 0 rg BT 249.36 556.50 Td (, ) Tj ET Q q 0 0 0 rg BT 253.36 556.50 Td (have ) Tj ET Q q 0 0 0 rg BT 270.46 556.50 Td (been ) Tj ET Q q 0 0 0 rg BT 287.56 556.50 Td (included ) Tj ET Q q 0 0 0 rg BT 317.11 556.50 Td (in ) Tj ET Q q 0 0 0 rg BT 325.33 556.50 Td (warranty ) Tj ET Q q 0 0 0 rg BT 355.76 556.50 Td (accruals.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 532.50 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 532.50 Td (e ) Tj ET Q q 0 0 0 rg BT 64.66 532.50 Td (have ) Tj ET Q q 0 0 0 rg BT 85.62 532.50 Td (received ) Tj ET Q q 0 0 0 rg BT 121.56 532.50 Td (claims ) Tj ET Q q 0 0 0 rg BT 149.75 532.50 Td (related ) Tj ET Q q 0 0 0 rg BT 179.03 532.50 Td (to ) Tj ET Q q 0 0 0 rg BT 188.89 532.50 Td (stucco ) Tj ET Q q 0 0 0 rg BT 216.52 532.50 Td (installation ) Tj ET Q q 0 0 0 rg BT 263.04 532.50 Td (from ) Tj ET Q q 0 0 0 rg BT 284.56 532.50 Td (homeowners ) Tj ET Q q 0 0 0 rg BT 337.74 532.50 Td (in ) Tj ET Q q 0 0 0 rg BT 347.60 532.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 376.88 532.50 Td (of ) Tj ET Q q 0 0 0 rg BT 387.29 532.50 Td (our ) Tj ET Q q 0 0 0 rg BT 402.70 532.50 Td (communities ) Tj ET Q q 0 0 0 rg BT 456.45 532.50 Td (in ) Tj ET Q q 0 0 0 rg BT 466.31 532.50 Td (our ) Tj ET Q q 0 0 0 rg BT 481.57 532.50 Td (T) Tj ET Q q 0 0 0 rg BT 486.98 532.50 Td (ampa ) Tj ET Q q 0 0 0 rg BT 510.71 532.50 Td (and ) Tj ET Q q 0 0 0 rg BT 527.23 532.50 Td (Orlando, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.50 Td (Florida ) Tj ET Q q 0 0 0 rg BT 80.68 520.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 114.63 520.50 Td (and ) Tj ET Q q 0 0 0 rg BT 131.36 520.50 Td (have ) Tj ET Q q 0 0 0 rg BT 152.53 520.50 Td (been ) Tj ET Q q 0 0 0 rg BT 173.70 520.50 Td (named ) Tj ET Q q 0 0 0 rg BT 202.64 520.50 Td (as ) Tj ET Q q 0 0 0 rg BT 213.27 520.50 Td (a ) Tj ET Q q 0 0 0 rg BT 220.00 520.50 Td (defendant ) Tj ET Q q 0 0 0 rg BT 261.71 520.50 Td (in ) Tj ET Q q 0 0 0 rg BT 271.79 520.50 Td (legal ) Tj ET Q q 0 0 0 rg BT 293.51 520.50 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 344.12 520.50 Td (initiated ) Tj ET Q q 0 0 0 rg BT 379.18 520.50 Td (by ) Tj ET Q q 0 0 0 rg BT 391.47 520.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 420.97 520.50 Td (of ) Tj ET Q q 0 0 0 rg BT 431.59 520.50 Td (such ) Tj ET Q q 0 0 0 rg BT 452.21 520.50 Td (homeowners. ) Tj ET Q q 0 0 0 rg BT 508.10 520.50 Td ( ) Tj ET Q q 0 0 0 rg BT 510.23 520.50 Td (These ) Tj ET Q q 0 0 0 rg BT 536.40 520.50 Td (claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.50 Td (primarily ) Tj ET Q q 0 0 0 rg BT 89.21 508.50 Td (relate ) Tj ET Q q 0 0 0 rg BT 113.91 508.50 Td (to ) Tj ET Q q 0 0 0 rg BT 124.19 508.50 Td (homes ) Tj ET Q q 0 0 0 rg BT 152.80 508.50 Td (built ) Tj ET Q q 0 0 0 rg BT 173.64 508.50 Td (prior ) Tj ET Q q 0 0 0 rg BT 195.57 508.50 Td (to ) Tj ET Q q 0 0 0 rg BT 205.85 508.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 228.35 508.50 Td (which ) Tj ET Q q 0 0 0 rg BT 255.29 508.50 Td (have ) Tj ET Q q 0 0 0 rg BT 276.67 508.50 Td (second ) Tj ET Q q 0 0 0 rg BT 306.94 508.50 Td (story ) Tj ET Q q 0 0 0 rg BT 329.44 508.50 Td (elevations ) Tj ET Q q 0 0 0 rg BT 372.48 508.50 Td (with ) Tj ET Q q 0 0 0 rg BT 392.76 508.50 Td (frame ) Tj ET Q q 0 0 0 rg BT 418.57 508.50 Td (construction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.50 Td (During ) Tj ET Q q 0 0 0 rg BT 80.33 488.50 Td (2015, ) Tj ET Q q 0 0 0 rg BT 105.33 488.50 Td (2016 ) Tj ET Q q 0 0 0 rg BT 127.83 488.50 Td (and ) Tj ET Q q 0 0 0 rg BT 144.77 488.50 Td (2017, ) Tj ET Q q 0 0 0 rg BT 169.78 488.50 Td (we ) Tj ET Q q 0 0 0 rg BT 183.94 488.50 Td (recorded ) Tj ET Q q 0 0 0 rg BT 221.41 488.50 Td (an ) Tj ET Q q 0 0 0 rg BT 233.35 488.50 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 274.72 488.50 Td (total ) Tj ET Q q 0 0 0 rg BT 294.99 488.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.82 488.50 Td ($28.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.72 488.50 Td ( ) Tj ET Q q 0 0 0 rg BT 362.22 488.50 Td (of ) Tj ET Q q 0 0 0 rg BT 373.05 488.50 Td (warranty ) Tj ET Q q 0 0 0 rg BT 411.09 488.50 Td (char) Tj ET Q q 0 0 0 rg BT 428.11 488.50 Td (ges ) Tj ET Q q 0 0 0 rg BT 443.95 488.50 Td (for ) Tj ET Q q 0 0 0 rg BT 458.11 488.50 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 516.69 488.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 542.50 488.50 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.50 Td (for ) Tj ET Q q 0 0 0 rg BT 64.75 476.50 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 80.00 476.50 Td (homes ) Tj ET Q q 0 0 0 rg BT 109.70 476.50 Td (in ) Tj ET Q q 0 0 0 rg BT 121.06 476.50 Td (our ) Tj ET Q q 0 0 0 rg BT 137.98 476.50 Td (Florida ) Tj ET Q q 0 0 0 rg BT 170.46 476.50 Td (communities ) Tj ET Q q 0 0 0 rg BT 225.71 476.50 Td (that ) Tj ET Q q 0 0 0 rg BT 244.29 476.50 Td (we ) Tj ET Q q 0 0 0 rg BT 259.54 476.50 Td (had ) Tj ET Q q 0 0 0 rg BT 277.57 476.50 Td (identified ) Tj ET Q q 0 0 0 rg BT 319.48 476.50 Td (as ) Tj ET Q q 0 0 0 rg BT 331.39 476.50 Td (needing ) Tj ET Q q 0 0 0 rg BT 366.64 476.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 393.54 476.50 Td (but ) Tj ET Q q 0 0 0 rg BT 409.91 476.50 Td (had ) Tj ET Q q 0 0 0 rg BT 427.94 476.50 Td (not ) Tj ET Q q 0 0 0 rg BT 444.30 476.50 Td (yet ) Tj ET Q q 0 0 0 rg BT 460.11 476.50 Td (completed ) Tj ET Q q 0 0 0 rg BT 505.35 476.50 Td (the ) Tj ET Q q 0 0 0 rg BT 521.16 476.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 548.06 476.50 Td (and ) Tj ET Q q 0 0 0 rg BT 565.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 567.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 570.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 572.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 575.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 577.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 580.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 582.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 585.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 587.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 590.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 592.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 595.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 597.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 600.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 602.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 605.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 607.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 610.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 612.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 615.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 617.50 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 620.00 476.50 Td ( ) Tj ET Q q 0 0 0 rg BT 622.50 476.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.50 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 62.94 464.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 103.05 464.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 128.15 464.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 149.93 464.50 Td (for ) Tj ET Q q 0 0 0 rg BT 163.38 464.50 Td (homes ) Tj ET Q q 0 0 0 rg BT 191.27 464.50 Td (in ) Tj ET Q q 0 0 0 rg BT 200.84 464.50 Td (our ) Tj ET Q q 0 0 0 rg BT 215.95 464.50 Td (Florida ) Tj ET Q q 0 0 0 rg BT 246.62 464.50 Td (communities ) Tj ET Q q 0 0 0 rg BT 300.07 464.50 Td (that ) Tj ET Q q 0 0 0 rg BT 316.85 464.50 Td (we ) Tj ET Q q 0 0 0 rg BT 330.29 464.50 Td (had ) Tj ET Q q 0 0 0 rg BT 346.51 464.50 Td (not ) Tj ET Q q 0 0 0 rg BT 361.08 464.50 Td (yet ) Tj ET Q q 0 0 0 rg BT 375.08 464.50 Td (identified ) Tj ET Q q 0 0 0 rg BT 415.18 464.50 Td (as ) Tj ET Q q 0 0 0 rg BT 425.30 464.50 Td (needing ) Tj ET Q q 0 0 0 rg BT 458.74 464.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 483.84 464.50 Td (but ) Tj ET Q q 0 0 0 rg BT 498.40 464.50 Td (that ) Tj ET Q q 0 0 0 rg BT 515.18 464.50 Td (may ) Tj ET Q q 0 0 0 rg BT 534.18 464.50 Td (require ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 75.32 452.50 Td (in ) Tj ET Q q 0 0 0 rg BT 85.59 452.50 Td (the ) Tj ET Q q 0 0 0 rg BT 100.31 452.50 Td (future.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 432.50 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 432.50 Td (e ) Tj ET Q q 0 0 0 rg BT 65.70 432.50 Td (did ) Tj ET Q q 0 0 0 rg BT 81.60 432.50 Td (not ) Tj ET Q q 0 0 0 rg BT 97.51 432.50 Td (record ) Tj ET Q q 0 0 0 rg BT 126.17 432.50 Td (any ) Tj ET Q q 0 0 0 rg BT 143.73 432.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 186.85 432.50 Td (warranty ) Tj ET Q q 0 0 0 rg BT 225.51 432.50 Td (char) Tj ET Q q 0 0 0 rg BT 242.54 432.50 Td (ges ) Tj ET Q q 0 0 0 rg BT 258.99 432.50 Td (for ) Tj ET Q q 0 0 0 rg BT 273.78 432.50 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 332.98 432.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 359.42 432.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 382.55 432.50 Td (during ) Tj ET Q q 0 0 0 rg BT 411.78 432.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.12 432.50 Td (second ) Tj ET Q q 0 0 0 rg BT 458.02 432.50 Td (quarter ) Tj ET Q q 0 0 0 rg BT 489.46 432.50 Td (of ) Tj ET Q q 0 0 0 rg BT 500.91 432.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.91 432.50 Td ( ) Tj ET Q q 0 0 0 rg BT 524.04 432.50 Td (or ) Tj ET Q q 0 0 0 rg BT 535.49 432.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.83 432.50 Td (six ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 420.50 Td (months ) Tj ET Q q 0 0 0 rg BT 81.22 420.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 107.37 420.50 Td (June ) Tj ET Q q 0 0 0 rg BT 127.98 420.50 Td (30, ) Tj ET Q q 0 0 0 rg BT 142.75 420.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.75 420.50 Td (. ) Tj ET Q q 0 0 0 rg BT 167.53 420.50 Td ( ) Tj ET Q q 0 0 0 rg BT 169.64 420.50 Td (The ) Tj ET Q q 0 0 0 rg BT 187.46 420.50 Td (remaining ) Tj ET Q q 0 0 0 rg BT 230.27 420.50 Td (reserve ) Tj ET Q q 0 0 0 rg BT 261.42 420.50 Td (for ) Tj ET Q q 0 0 0 rg BT 275.35 420.50 Td (both ) Tj ET Q q 0 0 0 rg BT 295.40 420.50 Td (known ) Tj ET Q q 0 0 0 rg BT 324.90 420.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 350.49 420.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 372.76 420.50 Td (and ) Tj ET Q q 0 0 0 rg BT 389.48 420.50 Td (an ) Tj ET Q q 0 0 0 rg BT 401.19 420.50 Td (estimate ) Tj ET Q q 0 0 0 rg BT 436.78 420.50 Td (of ) Tj ET Q q 0 0 0 rg BT 447.39 420.50 Td (future ) Tj ET Q q 0 0 0 rg BT 473.54 420.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 495.81 420.50 Td (of ) Tj ET Q q 0 0 0 rg BT 506.42 420.50 Td (stucco-related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 408.50 Td (repairs ) Tj ET Q q 0 0 0 rg BT 78.98 408.50 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.46 408.50 Td (June30, ) Tj ET Q q 0 0 0 rg BT 124.06 408.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.06 408.50 Td ( ) Tj ET Q q 0 0 0 rg BT 146.33 408.50 Td (included ) Tj ET Q q 0 0 0 rg BT 183.03 408.50 Td (within ) Tj ET Q q 0 0 0 rg BT 210.85 408.50 Td (our ) Tj ET Q q 0 0 0 rg BT 226.45 408.50 Td (warranty ) Tj ET Q q 0 0 0 rg BT 264.26 408.50 Td (reserve ) Tj ET Q q 0 0 0 rg BT 295.39 408.50 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.21 408.50 Td ($6.5 ) Tj ET Q q 0 0 0 rg BT 332.98 408.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.87 408.50 Td (. ) Tj ET Q q 0 0 0 rg BT 366.64 408.50 Td ( ) Tj ET Q q 0 0 0 rg BT 368.74 408.50 Td (W) Tj ET Q q 0 0 0 rg BT 377.38 408.50 Td (e ) Tj ET Q q 0 0 0 rg BT 384.09 408.50 Td (believe ) Tj ET Q q 0 0 0 rg BT 415.23 408.50 Td (that ) Tj ET Q q 0 0 0 rg BT 432.49 408.50 Td (this ) Tj ET Q q 0 0 0 rg BT 449.21 408.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 481.47 408.50 Td (is ) Tj ET Q q 0 0 0 rg BT 490.41 408.50 Td (suf) Tj ET Q q 0 0 0 rg BT 502.45 408.50 Td (ficient ) Tj ET Q q 0 0 0 rg BT 530.26 408.50 Td (to ) Tj ET Q q 0 0 0 rg BT 540.31 408.50 Td (cover ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 396.50 Td (both ) Tj ET Q q 0 0 0 rg BT 69.78 396.50 Td (known ) Tj ET Q q 0 0 0 rg BT 99.50 396.50 Td (and ) Tj ET Q q 0 0 0 rg BT 116.44 396.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 157.26 396.50 Td (future ) Tj ET Q q 0 0 0 rg BT 183.64 396.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 209.45 396.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 231.95 396.50 Td (as ) Tj ET Q q 0 0 0 rg BT 242.78 396.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.61 396.50 Td (June30, ) Tj ET Q q 0 0 0 rg BT 289.44 396.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.44 396.50 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 376.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.24 376.50 Td (review ) Tj ET Q q 0 0 0 rg BT 98.64 376.50 Td (of ) Tj ET Q q 0 0 0 rg BT 110.16 376.50 Td (the ) Tj ET Q q 0 0 0 rg BT 125.57 376.50 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 184.84 376.50 Td (issues ) Tj ET Q q 0 0 0 rg BT 211.92 376.50 Td (in ) Tj ET Q q 0 0 0 rg BT 222.89 376.50 Td (our ) Tj ET Q q 0 0 0 rg BT 239.41 376.50 Td (Florida ) Tj ET Q q 0 0 0 rg BT 271.49 376.50 Td (communities ) Tj ET Q q 0 0 0 rg BT 326.34 376.50 Td (is ) Tj ET Q q 0 0 0 rg BT 336.20 376.50 Td (ongoing. ) Tj ET Q q 0 0 0 rg BT 374.67 376.50 Td ( ) Tj ET Q q 0 0 0 rg BT 377.86 376.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 396.60 376.50 Td (estimate ) Tj ET Q q 0 0 0 rg BT 433.12 376.50 Td (of ) Tj ET Q q 0 0 0 rg BT 444.64 376.50 Td (future ) Tj ET Q q 0 0 0 rg BT 471.70 376.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 494.90 376.50 Td (of ) Tj ET Q q 0 0 0 rg BT 506.42 376.50 Td (stucco-related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 364.50 Td (repairs ) Tj ET Q q 0 0 0 rg BT 79.90 364.50 Td (is ) Tj ET Q q 0 0 0 rg BT 89.76 364.50 Td (based ) Tj ET Q q 0 0 0 rg BT 115.72 364.50 Td (on ) Tj ET Q q 0 0 0 rg BT 128.92 364.50 Td (our ) Tj ET Q q 0 0 0 rg BT 145.44 364.50 Td (judgment, ) Tj ET Q q 0 0 0 rg BT 188.90 364.50 Td (various ) Tj ET Q q 0 0 0 rg BT 221.53 364.50 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 274.17 364.50 Td (and ) Tj ET Q q 0 0 0 rg BT 291.81 364.50 Td (internal ) Tj ET Q q 0 0 0 rg BT 325.54 364.50 Td (data. ) Tj ET Q q 0 0 0 rg BT 347.89 364.50 Td ( ) Tj ET Q q 0 0 0 rg BT 351.08 364.50 Td (Due ) Tj ET Q q 0 0 0 rg BT 370.93 364.50 Td (to ) Tj ET Q q 0 0 0 rg BT 381.90 364.50 Td (the ) Tj ET Q q 0 0 0 rg BT 397.31 364.50 Td (degree ) Tj ET Q q 0 0 0 rg BT 427.15 364.50 Td (of ) Tj ET Q q 0 0 0 rg BT 438.67 364.50 Td (judgment ) Tj ET Q q 0 0 0 rg BT 479.64 364.50 Td (and ) Tj ET Q q 0 0 0 rg BT 497.27 364.50 Td (the ) Tj ET Q q 0 0 0 rg BT 512.68 364.50 Td (potential ) Tj ET Q q 0 0 0 rg BT 550.86 364.50 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 352.50 Td (variability ) Tj ET Q q 0 0 0 rg BT 92.95 352.50 Td (in ) Tj ET Q q 0 0 0 rg BT 103.08 352.50 Td (our ) Tj ET Q q 0 0 0 rg BT 118.76 352.50 Td (underlying ) Tj ET Q q 0 0 0 rg BT 164.43 352.50 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 216.23 352.50 Td (and ) Tj ET Q q 0 0 0 rg BT 233.02 352.50 Td (data, ) Tj ET Q q 0 0 0 rg BT 254.52 352.50 Td (as ) Tj ET Q q 0 0 0 rg BT 265.21 352.50 Td (we ) Tj ET Q q 0 0 0 rg BT 279.22 352.50 Td (obtain ) Tj ET Q q 0 0 0 rg BT 306.56 352.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 348.90 352.50 Td (information, ) Tj ET Q q 0 0 0 rg BT 400.96 352.50 Td (we ) Tj ET Q q 0 0 0 rg BT 414.97 352.50 Td (may ) Tj ET Q q 0 0 0 rg BT 434.54 352.50 Td (revise ) Tj ET Q q 0 0 0 rg BT 460.77 352.50 Td (our ) Tj ET Q q 0 0 0 rg BT 476.45 352.50 Td (estimate, ) Tj ET Q q 0 0 0 rg BT 514.62 352.50 Td (including ) Tj ET Q q 0 0 0 rg BT 554.74 352.50 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.50 Td (reflect ) Tj ET Q q 0 0 0 rg BT 77.53 340.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 120.02 340.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 160.84 340.50 Td (future ) Tj ET Q q 0 0 0 rg BT 187.22 340.50 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 245.80 340.50 Td (repairs ) Tj ET Q q 0 0 0 rg BT 275.51 340.50 Td (costs, ) Tj ET Q q 0 0 0 rg BT 300.51 340.50 Td (which ) Tj ET Q q 0 0 0 rg BT 327.44 340.50 Td (revision ) Tj ET Q q 0 0 0 rg BT 362.16 340.50 Td (could ) Tj ET Q q 0 0 0 rg BT 386.88 340.50 Td (be ) Tj ET Q q 0 0 0 rg BT 398.82 340.50 Td (material.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.50 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 320.50 Td (e ) Tj ET Q q 0 0 0 rg BT 65.70 320.50 Td (also ) Tj ET Q q 0 0 0 rg BT 84.92 320.50 Td (are ) Tj ET Q q 0 0 0 rg BT 100.25 320.50 Td (continuing ) Tj ET Q q 0 0 0 rg BT 146.15 320.50 Td (to ) Tj ET Q q 0 0 0 rg BT 157.04 320.50 Td (investigate ) Tj ET Q q 0 0 0 rg BT 203.48 320.50 Td (the ) Tj ET Q q 0 0 0 rg BT 218.82 320.50 Td (extent ) Tj ET Q q 0 0 0 rg BT 246.38 320.50 Td (to ) Tj ET Q q 0 0 0 rg BT 257.27 320.50 Td (which ) Tj ET Q q 0 0 0 rg BT 284.83 320.50 Td (we ) Tj ET Q q 0 0 0 rg BT 299.61 320.50 Td (may ) Tj ET Q q 0 0 0 rg BT 319.95 320.50 Td (be ) Tj ET Q q 0 0 0 rg BT 332.51 320.50 Td (able ) Tj ET Q q 0 0 0 rg BT 352.28 320.50 Td (to ) Tj ET Q q 0 0 0 rg BT 363.18 320.50 Td (recover ) Tj ET Q q 0 0 0 rg BT 396.28 320.50 Td (a ) Tj ET Q q 0 0 0 rg BT 403.84 320.50 Td (portion ) Tj ET Q q 0 0 0 rg BT 435.84 320.50 Td (of ) Tj ET Q q 0 0 0 rg BT 447.29 320.50 Td (our ) Tj ET Q q 0 0 0 rg BT 463.74 320.50 Td (stucco ) Tj ET Q q 0 0 0 rg BT 492.41 320.50 Td (repair ) Tj ET Q q 0 0 0 rg BT 518.85 320.50 Td (and ) Tj ET Q q 0 0 0 rg BT 536.40 320.50 Td (claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.50 Td (handling ) Tj ET Q q 0 0 0 rg BT 87.20 308.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 109.90 308.50 Td (from ) Tj ET Q q 0 0 0 rg BT 132.03 308.50 Td (other ) Tj ET Q q 0 0 0 rg BT 155.28 308.50 Td (sources, ) Tj ET Q q 0 0 0 rg BT 190.47 308.50 Td (including ) Tj ET Q q 0 0 0 rg BT 230.95 308.50 Td (our ) Tj ET Q q 0 0 0 rg BT 246.98 308.50 Td (direct ) Tj ET Q q 0 0 0 rg BT 272.44 308.50 Td (insurers, ) Tj ET Q q 0 0 0 rg BT 309.30 308.50 Td (the ) Tj ET Q q 0 0 0 rg BT 324.22 308.50 Td (subcontractors ) Tj ET Q q 0 0 0 rg BT 385.23 308.50 Td (involved ) Tj ET Q q 0 0 0 rg BT 422.93 308.50 Td (with ) Tj ET Q q 0 0 0 rg BT 443.41 308.50 Td (the ) Tj ET Q q 0 0 0 rg BT 458.32 308.50 Td (construction ) Tj ET Q q 0 0 0 rg BT 510.46 308.50 Td (of ) Tj ET Q q 0 0 0 rg BT 521.49 308.50 Td (the ) Tj ET Q q 0 0 0 rg BT 536.40 308.50 Td (homes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.50 Td (and ) Tj ET Q q 0 0 0 rg BT 66.51 296.50 Td (their ) Tj ET Q q 0 0 0 rg BT 87.40 296.50 Td (insurers. ) Tj ET Q q 0 0 0 rg BT 124.13 296.50 Td ( ) Tj ET Q q 0 0 0 rg BT 126.13 296.50 Td (As ) Tj ET Q q 0 0 0 rg BT 139.81 296.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.70 296.50 Td (June30, ) Tj ET Q q 0 0 0 rg BT 186.60 296.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.60 296.50 Td (, ) Tj ET Q q 0 0 0 rg BT 211.67 296.50 Td (we ) Tj ET Q q 0 0 0 rg BT 225.90 296.50 Td (are ) Tj ET Q q 0 0 0 rg BT 240.67 296.50 Td (unable ) Tj ET Q q 0 0 0 rg BT 269.89 296.50 Td (to ) Tj ET Q q 0 0 0 rg BT 280.24 296.50 Td (estimate ) Tj ET Q q 0 0 0 rg BT 316.13 296.50 Td (an ) Tj ET Q q 0 0 0 rg BT 328.13 296.50 Td (amount, ) Tj ET Q q 0 0 0 rg BT 363.20 296.50 Td (if ) Tj ET Q q 0 0 0 rg BT 371.87 296.50 Td (any) Tj ET Q q 0 0 0 rg BT 385.66 296.50 Td (, ) Tj ET Q q 0 0 0 rg BT 390.73 296.50 Td (that ) Tj ET Q q 0 0 0 rg BT 408.29 296.50 Td (we ) Tj ET Q q 0 0 0 rg BT 422.52 296.50 Td (believe ) Tj ET Q q 0 0 0 rg BT 453.96 296.50 Td (is ) Tj ET Q q 0 0 0 rg BT 463.19 296.50 Td (probable ) Tj ET Q q 0 0 0 rg BT 500.75 296.50 Td (to ) Tj ET Q q 0 0 0 rg BT 511.09 296.50 Td (be ) Tj ET Q q 0 0 0 rg BT 523.10 296.50 Td (recovered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.50 Td (from ) Tj ET Q q 0 0 0 rg BT 70.97 284.50 Td (these ) Tj ET Q q 0 0 0 rg BT 93.56 284.50 Td (sources ) Tj ET Q q 0 0 0 rg BT 125.58 284.50 Td (and, ) Tj ET Q q 0 0 0 rg BT 144.56 284.50 Td (accordingly) Tj ET Q q 0 0 0 rg BT 191.11 284.50 Td (, ) Tj ET Q q 0 0 0 rg BT 195.65 284.50 Td (we ) Tj ET Q q 0 0 0 rg BT 209.34 284.50 Td (have ) Tj ET Q q 0 0 0 rg BT 230.26 284.50 Td (not ) Tj ET Q q 0 0 0 rg BT 245.07 284.50 Td (recorded ) Tj ET Q q 0 0 0 rg BT 282.08 284.50 Td (a ) Tj ET Q q 0 0 0 rg BT 288.56 284.50 Td (receivable ) Tj ET Q q 0 0 0 rg BT 331.67 284.50 Td (for ) Tj ET Q q 0 0 0 rg BT 345.37 284.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 385.73 284.50 Td (recoveries ) Tj ET Q q 0 0 0 rg BT 428.85 284.50 Td (nor ) Tj ET Q q 0 0 0 rg BT 444.21 284.50 Td (included ) Tj ET Q q 0 0 0 rg BT 480.68 284.50 Td (an ) Tj ET Q q 0 0 0 rg BT 492.16 284.50 Td (estimated ) Tj ET Q q 0 0 0 rg BT 532.51 284.50 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.50 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 272.50 Td (recoveries ) Tj ET Q q 0 0 0 rg BT 103.91 272.50 Td (in ) Tj ET Q q 0 0 0 rg BT 114.19 272.50 Td (determining ) Tj ET Q q 0 0 0 rg BT 165.01 272.50 Td (our ) Tj ET Q q 0 0 0 rg BT 180.84 272.50 Td (warranty ) Tj ET Q q 0 0 0 rg BT 218.88 272.50 Td (reserves. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 248.50 Td (Performance Bonds and Letters of Credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.50 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.85 224.50 Td (June30, ) Tj ET Q q 0 0 0 rg BT 97.54 224.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.54 224.50 Td (, ) Tj ET Q q 0 0 0 rg BT 122.40 224.50 Td (the ) Tj ET Q q 0 0 0 rg BT 136.97 224.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 178.21 224.50 Td (had ) Tj ET Q q 0 0 0 rg BT 195.00 224.50 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 244.02 224.50 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.14 224.50 Td ($198.2 ) Tj ET Q q 0 0 0 rg BT 333.99 224.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.88 224.50 Td ( ) Tj ET Q q 0 0 0 rg BT 365.24 224.50 Td (of ) Tj ET Q q 0 0 0 rg BT 375.92 224.50 Td (completion ) Tj ET Q q 0 0 0 rg BT 423.27 224.50 Td (bonds ) Tj ET Q q 0 0 0 rg BT 449.51 224.50 Td (and ) Tj ET Q q 0 0 0 rg BT 466.31 224.50 Td (standby ) Tj ET Q q 0 0 0 rg BT 499.77 224.50 Td (letters ) Tj ET Q q 0 0 0 rg BT 526.56 224.50 Td (of ) Tj ET Q q 0 0 0 rg BT 537.24 224.50 Td (credit, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.50 Td (some ) Tj ET Q q 0 0 0 rg BT 72.95 212.50 Td (of ) Tj ET Q q 0 0 0 rg BT 83.63 212.50 Td (which ) Tj ET Q q 0 0 0 rg BT 110.41 212.50 Td (were ) Tj ET Q q 0 0 0 rg BT 132.18 212.50 Td (issued ) Tj ET Q q 0 0 0 rg BT 159.52 212.50 Td (to ) Tj ET Q q 0 0 0 rg BT 169.65 212.50 Td (various ) Tj ET Q q 0 0 0 rg BT 201.43 212.50 Td (local ) Tj ET Q q 0 0 0 rg BT 223.21 212.50 Td (governmental ) Tj ET Q q 0 0 0 rg BT 280.53 212.50 Td (entities ) Tj ET Q q 0 0 0 rg BT 311.76 212.50 Td (that ) Tj ET Q q 0 0 0 rg BT 329.09 212.50 Td (expire ) Tj ET Q q 0 0 0 rg BT 356.42 212.50 Td (at ) Tj ET Q q 0 0 0 rg BT 365.98 212.50 Td (various ) Tj ET Q q 0 0 0 rg BT 397.77 212.50 Td (times ) Tj ET Q q 0 0 0 rg BT 421.78 212.50 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.23 212.50 Td (September ) Tj ET Q q 0 0 0 rg BT 500.33 212.50 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.33 212.50 Td (. ) Tj ET Q q 0 0 0 rg BT 525.18 212.50 Td ( ) Tj ET Q q 0 0 0 rg BT 527.52 212.50 Td (Included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.50 Td (in ) Tj ET Q q 0 0 0 rg BT 59.63 200.50 Td (this ) Tj ET Q q 0 0 0 rg BT 76.43 200.50 Td (total ) Tj ET Q q 0 0 0 rg BT 96.56 200.50 Td (are: ) Tj ET Q q 0 0 0 rg BT 113.90 200.50 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.91 200.50 Td ($140.8 ) Tj ET Q q 0 0 0 rg BT 157.76 200.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.65 200.50 Td ( ) Tj ET Q q 0 0 0 rg BT 189.00 200.50 Td (of ) Tj ET Q q 0 0 0 rg BT 199.69 200.50 Td (performance ) Tj ET Q q 0 0 0 rg BT 252.56 200.50 Td (and ) Tj ET Q q 0 0 0 rg BT 269.35 200.50 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 322.23 200.50 Td (bonds ) Tj ET Q q 0 0 0 rg BT 348.48 200.50 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.27 200.50 Td ($42.5 ) Tj ET Q q 0 0 0 rg BT 390.12 200.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.01 200.50 Td ( ) Tj ET Q q 0 0 0 rg BT 421.37 200.50 Td (of ) Tj ET Q q 0 0 0 rg BT 432.05 200.50 Td (performance ) Tj ET Q q 0 0 0 rg BT 484.92 200.50 Td (letters ) Tj ET Q q 0 0 0 rg BT 511.71 200.50 Td (of ) Tj ET Q q 0 0 0 rg BT 522.39 200.50 Td (credit ) Tj ET Q q 0 0 0 rg BT 547.51 200.50 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.50 Td (serve ) Tj ET Q q 0 0 0 rg BT 72.00 188.50 Td (as ) Tj ET Q q 0 0 0 rg BT 81.74 188.50 Td (completion ) Tj ET Q q 0 0 0 rg BT 128.14 188.50 Td (bonds ) Tj ET Q q 0 0 0 rg BT 153.44 188.50 Td (for ) Tj ET Q q 0 0 0 rg BT 166.50 188.50 Td (land ) Tj ET Q q 0 0 0 rg BT 185.13 188.50 Td (development ) Tj ET Q q 0 0 0 rg BT 238.18 188.50 Td (work ) Tj ET Q q 0 0 0 rg BT 260.14 188.50 Td (in ) Tj ET Q q 0 0 0 rg BT 269.32 188.50 Td (progress; ) Tj ET Q q 0 0 0 rg BT 307.39 188.50 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.46 188.50 Td ($7.3 ) Tj ET Q q 0 0 0 rg BT 339.36 188.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.25 188.50 Td ( ) Tj ET Q q 0 0 0 rg BT 369.66 188.50 Td (of ) Tj ET Q q 0 0 0 rg BT 379.40 188.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 415.78 188.50 Td (letters ) Tj ET Q q 0 0 0 rg BT 441.62 188.50 Td (of ) Tj ET Q q 0 0 0 rg BT 451.36 188.50 Td (credit, ) Tj ET Q q 0 0 0 rg BT 478.03 188.50 Td (of ) Tj ET Q q 0 0 0 rg BT 487.77 188.50 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.61 188.50 Td ($7.3million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.50 Td (represent ) Tj ET Q q 0 0 0 rg BT 88.65 176.50 Td (deposits ) Tj ET Q q 0 0 0 rg BT 123.92 176.50 Td (on ) Tj ET Q q 0 0 0 rg BT 136.42 176.50 Td (land ) Tj ET Q q 0 0 0 rg BT 156.14 176.50 Td (and ) Tj ET Q q 0 0 0 rg BT 173.08 176.50 Td (lot ) Tj ET Q q 0 0 0 rg BT 186.14 176.50 Td (purchase ) Tj ET Q q 0 0 0 rg BT 224.17 176.50 Td (agreements; ) Tj ET Q q 0 0 0 rg BT 274.98 176.50 Td (and ) Tj ET Q q 0 0 0 rg BT 291.92 176.50 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.08 176.50 Td ($7.6 ) Tj ET Q q 0 0 0 rg BT 326.08 176.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.97 176.50 Td ( ) Tj ET Q q 0 0 0 rg BT 357.47 176.50 Td (of ) Tj ET Q q 0 0 0 rg BT 368.30 176.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 405.78 176.50 Td (bonds.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 152.50 Td (Land Option Contracts and Other Similar Contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.50 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.96 128.50 Td (June30, ) Tj ET Q q 0 0 0 rg BT 97.75 128.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.75 128.50 Td (, ) Tj ET Q q 0 0 0 rg BT 122.71 128.50 Td (the ) Tj ET Q q 0 0 0 rg BT 137.39 128.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 178.73 128.50 Td (also ) Tj ET Q q 0 0 0 rg BT 197.30 128.50 Td (had ) Tj ET Q q 0 0 0 rg BT 214.20 128.50 Td (options ) Tj ET Q q 0 0 0 rg BT 246.11 128.50 Td (and ) Tj ET Q q 0 0 0 rg BT 263.01 128.50 Td (contingent ) Tj ET Q q 0 0 0 rg BT 307.68 128.50 Td (purchase ) Tj ET Q q 0 0 0 rg BT 345.68 128.50 Td (agreements ) Tj ET Q q 0 0 0 rg BT 393.67 128.50 Td (to ) Tj ET Q q 0 0 0 rg BT 403.91 128.50 Td (acquire ) Tj ET Q q 0 0 0 rg BT 435.79 128.50 Td (land ) Tj ET Q q 0 0 0 rg BT 455.47 128.50 Td (and ) Tj ET Q q 0 0 0 rg BT 472.37 128.50 Td (developed ) Tj ET Q q 0 0 0 rg BT 515.92 128.50 Td (lots ) Tj ET Q q 0 0 0 rg BT 532.83 128.50 Td (with ) Tj ET Q q 0 0 0 rg BT 553.07 128.50 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.50 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 91.63 116.50 Td (purchase ) Tj ET Q q 0 0 0 rg BT 130.43 116.50 Td (price ) Tj ET Q q 0 0 0 rg BT 153.68 116.50 Td (of ) Tj ET Q q 0 0 0 rg BT 165.28 116.50 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.31 116.50 Td ($640.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.20 116.50 Td (. ) Tj ET Q q 0 0 0 rg BT 290.96 116.50 Td ( ) Tj ET Q q 0 0 0 rg BT 294.23 116.50 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 333.60 116.50 Td (of ) Tj ET Q q 0 0 0 rg BT 345.19 116.50 Td (properties ) Tj ET Q q 0 0 0 rg BT 388.45 116.50 Td (under ) Tj ET Q q 0 0 0 rg BT 414.48 116.50 Td (these ) Tj ET Q q 0 0 0 rg BT 438.29 116.50 Td (agreements ) Tj ET Q q 0 0 0 rg BT 487.09 116.50 Td (is ) Tj ET Q q 0 0 0 rg BT 497.03 116.50 Td (contingent ) Tj ET Q q 0 0 0 rg BT 542.51 116.50 Td (upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.50 Td (satisfaction ) Tj ET Q q 0 0 0 rg BT 97.54 104.50 Td (of ) Tj ET Q q 0 0 0 rg BT 108.37 104.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 138.07 104.50 Td (requirements ) Tj ET Q q 0 0 0 rg BT 192.78 104.50 Td (by ) Tj ET Q q 0 0 0 rg BT 205.28 104.50 Td (the ) Tj ET Q q 0 0 0 rg BT 219.99 104.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 261.38 104.50 Td (and ) Tj ET Q q 0 0 0 rg BT 278.32 104.50 Td (the ) Tj ET Q q 0 0 0 rg BT 293.04 104.50 Td (sellers.) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (19) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (Legal ) Tj ET Q q 0 0 0 rg BT 75.33 740.25 Td (Matters) Tj ET Q /GS0 gs q 2.50 0 0 9.93 107.00 738.09 cm /I4 Do Q BT /F3 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.20 716.25 Td (addition ) Tj ET Q q 0 0 0 rg BT 95.34 716.25 Td (to ) Tj ET Q q 0 0 0 rg BT 105.48 716.25 Td (the ) Tj ET Q q 0 0 0 rg BT 120.07 716.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 141.87 716.25 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 192.55 716.25 Td (related ) Tj ET Q q 0 0 0 rg BT 222.12 716.25 Td (to ) Tj ET Q q 0 0 0 rg BT 232.27 716.25 Td (stucco, ) Tj ET Q q 0 0 0 rg BT 262.68 716.25 Td (the ) Tj ET Q q 0 0 0 rg BT 277.26 716.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 318.52 716.25 Td (and ) Tj ET Q q 0 0 0 rg BT 335.32 716.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 364.89 716.25 Td (of ) Tj ET Q q 0 0 0 rg BT 375.59 716.25 Td (its ) Tj ET Q q 0 0 0 rg BT 387.41 716.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 436.99 716.25 Td (have ) Tj ET Q q 0 0 0 rg BT 458.23 716.25 Td (been ) Tj ET Q q 0 0 0 rg BT 479.48 716.25 Td (named ) Tj ET Q q 0 0 0 rg BT 508.50 716.25 Td (as ) Tj ET Q q 0 0 0 rg BT 519.20 716.25 Td (defendants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (in ) Tj ET Q q 0 0 0 rg BT 60.17 704.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 90.26 704.25 Td (other ) Tj ET Q q 0 0 0 rg BT 113.70 704.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 136.02 704.25 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 187.22 704.25 Td (which ) Tj ET Q q 0 0 0 rg BT 214.55 704.25 Td (are ) Tj ET Q q 0 0 0 rg BT 229.65 704.25 Td (incidental ) Tj ET Q q 0 0 0 rg BT 271.97 704.25 Td (to ) Tj ET Q q 0 0 0 rg BT 282.64 704.25 Td (our ) Tj ET Q q 0 0 0 rg BT 298.86 704.25 Td (business. ) Tj ET Q q 0 0 0 rg BT 338.14 704.25 Td ( ) Tj ET Q q 0 0 0 rg BT 340.82 704.25 Td (While ) Tj ET Q q 0 0 0 rg BT 368.14 704.25 Td (management ) Tj ET Q q 0 0 0 rg BT 422.12 704.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 461.10 704.25 Td (believes ) Tj ET Q q 0 0 0 rg BT 496.76 704.25 Td (that ) Tj ET Q q 0 0 0 rg BT 514.64 704.25 Td (the ) Tj ET Q q 0 0 0 rg BT 529.75 704.25 Td (ultimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (resolution ) Tj ET Q q 0 0 0 rg BT 92.36 692.25 Td (of ) Tj ET Q q 0 0 0 rg BT 103.56 692.25 Td (these ) Tj ET Q q 0 0 0 rg BT 126.97 692.25 Td (other ) Tj ET Q q 0 0 0 rg BT 150.38 692.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 172.68 692.25 Td (proceedings, ) Tj ET Q q 0 0 0 rg BT 226.37 692.25 Td (individually ) Tj ET Q q 0 0 0 rg BT 277.56 692.25 Td (and ) Tj ET Q q 0 0 0 rg BT 294.87 692.25 Td (in ) Tj ET Q q 0 0 0 rg BT 305.51 692.25 Td (the ) Tj ET Q q 0 0 0 rg BT 320.59 692.25 Td (aggregate, ) Tj ET Q q 0 0 0 rg BT 364.82 692.25 Td (will ) Tj ET Q q 0 0 0 rg BT 383.25 692.25 Td (not ) Tj ET Q q 0 0 0 rg BT 398.89 692.25 Td (have ) Tj ET Q q 0 0 0 rg BT 420.63 692.25 Td (a ) Tj ET Q q 0 0 0 rg BT 427.94 692.25 Td (material ) Tj ET Q q 0 0 0 rg BT 463.56 692.25 Td (ef) Tj ET Q q 0 0 0 rg BT 471.15 692.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 489.00 692.25 Td (on ) Tj ET Q q 0 0 0 rg BT 501.87 692.25 Td (the ) Tj ET Q q 0 0 0 rg BT 516.95 692.25 Td (Company) Tj ET Q q 0 0 0 rg BT 558.62 692.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.41 680.25 Td (position, ) Tj ET Q q 0 0 0 rg BT 123.06 680.25 Td (results ) Tj ET Q q 0 0 0 rg BT 151.09 680.25 Td (of ) Tj ET Q q 0 0 0 rg BT 161.35 680.25 Td (operationsand ) Tj ET Q q 0 0 0 rg BT 221.87 680.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 241.57 680.25 Td (flows, ) Tj ET Q q 0 0 0 rg BT 268.21 680.25 Td (such ) Tj ET Q q 0 0 0 rg BT 288.47 680.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 309.83 680.25 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 360.07 680.25 Td (are ) Tj ET Q q 0 0 0 rg BT 374.20 680.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 404.46 680.25 Td (to ) Tj ET Q q 0 0 0 rg BT 414.16 680.25 Td (inherent ) Tj ET Q q 0 0 0 rg BT 448.85 680.25 Td (uncertainties. ) Tj ET Q q 0 0 0 rg BT 504.37 680.25 Td ( ) Tj ET Q q 0 0 0 rg BT 506.15 680.25 Td (The ) Tj ET Q q 0 0 0 rg BT 523.63 680.25 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.25 Td (has ) Tj ET Q q 0 0 0 rg BT 65.48 668.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 103.11 668.25 Td (a ) Tj ET Q q 0 0 0 rg BT 110.20 668.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 143.96 668.25 Td (to ) Tj ET Q q 0 0 0 rg BT 154.39 668.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 187.59 668.25 Td (for ) Tj ET Q q 0 0 0 rg BT 201.90 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 216.77 668.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 263.28 668.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 288.44 668.25 Td (including ) Tj ET Q q 0 0 0 rg BT 328.86 668.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 350.95 668.25 Td (defense ) Tj ET Q q 0 0 0 rg BT 384.13 668.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 409.29 668.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 453.03 668.25 Td (with ) Tj ET Q q 0 0 0 rg BT 473.46 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 488.33 668.25 Td (resolution ) Tj ET Q q 0 0 0 rg BT 530.97 668.25 Td (of ) Tj ET Q q 0 0 0 rg BT 541.96 668.25 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.25 Td (other ) Tj ET Q q 0 0 0 rg BT 73.14 656.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 95.66 656.25 Td (proceedings. ) Tj ET Q q 0 0 0 rg BT 149.57 656.25 Td ( ) Tj ET Q q 0 0 0 rg BT 152.66 656.25 Td (However) Tj ET Q q 0 0 0 rg BT 188.91 656.25 Td (, ) Tj ET Q q 0 0 0 rg BT 194.50 656.25 Td (the ) Tj ET Q q 0 0 0 rg BT 209.81 656.25 Td (possibility ) Tj ET Q q 0 0 0 rg BT 254.57 656.25 Td (exists ) Tj ET Q q 0 0 0 rg BT 280.44 656.25 Td (that ) Tj ET Q q 0 0 0 rg BT 298.53 656.25 Td (the ) Tj ET Q q 0 0 0 rg BT 313.84 656.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 336.93 656.25 Td (to ) Tj ET Q q 0 0 0 rg BT 347.80 656.25 Td (resolve ) Tj ET Q q 0 0 0 rg BT 379.76 656.25 Td (these ) Tj ET Q q 0 0 0 rg BT 403.40 656.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 425.93 656.25 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 477.33 656.25 Td (could ) Tj ET Q q 0 0 0 rg BT 502.64 656.25 Td (dif) Tj ET Q q 0 0 0 rg BT 513.57 656.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 527.76 656.25 Td (from ) Tj ET Q q 0 0 0 rg BT 550.29 656.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 86.76 644.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 126.26 644.25 Td (and, ) Tj ET Q q 0 0 0 rg BT 145.48 644.25 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 186.35 644.25 Td (have ) Tj ET Q q 0 0 0 rg BT 207.51 644.25 Td (a ) Tj ET Q q 0 0 0 rg BT 214.23 644.25 Td (material ) Tj ET Q q 0 0 0 rg BT 249.27 644.25 Td (ef) Tj ET Q q 0 0 0 rg BT 256.86 644.25 Td (fecton ) Tj ET Q q 0 0 0 rg BT 286.63 644.25 Td (the ) Tj ET Q q 0 0 0 rg BT 301.13 644.25 Td (Company) Tj ET Q q 0 0 0 rg BT 342.80 644.25 Td (s ) Tj ET Q q 0 0 0 rg BT 348.97 644.25 Td (net ) Tj ET Q q 0 0 0 rg BT 363.47 644.25 Td (income ) Tj ET Q q 0 0 0 rg BT 395.19 644.25 Td (for ) Tj ET Q q 0 0 0 rg BT 409.14 644.25 Td (the ) Tj ET Q q 0 0 0 rg BT 423.64 644.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 455.36 644.25 Td (in ) Tj ET Q q 0 0 0 rg BT 465.42 644.25 Td (which ) Tj ET Q q 0 0 0 rg BT 492.14 644.25 Td (they ) Tj ET Q q 0 0 0 rg BT 511.65 644.25 Td (are ) Tj ET Q q 0 0 0 rg BT 526.14 644.25 Td (resolved. ) Tj ET Q q 0 0 0 rg BT 565.01 644.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (At ) Tj ET Q q 0 0 0 rg BT 62.00 632.25 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.28 632.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 118.11 632.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.11 632.25 Td ( ) Tj ET Q q 0 0 0 rg BT 140.61 632.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.55 632.25 Td (December ) Tj ET Q q 0 0 0 rg BT 201.13 632.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 216.13 632.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.13 632.25 Td (, ) Tj ET Q q 0 0 0 rg BT 241.13 632.25 Td (we ) Tj ET Q q 0 0 0 rg BT 255.29 632.25 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.23 632.25 Td ($0.4 ) Tj ET Q q 0 0 0 rg BT 292.23 632.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.12 632.25 Td ( ) Tj ET Q q 0 0 0 rg BT 323.62 632.25 Td (reserved ) Tj ET Q q 0 0 0 rg BT 359.99 632.25 Td (for ) Tj ET Q q 0 0 0 rg BT 374.15 632.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 396.08 632.25 Td (expenses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 610.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.34 610.25 Td (7. ) Tj ET Q q 0 0 0 rg BT 89.79 610.25 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 141.19 610.25 Td (and ) Tj ET Q q 0 0 0 rg BT 159.81 610.25 Td (Goodwill) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 588.25 Td (Acquisition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 566.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.87 566.25 Td (March ) Tj ET Q q 0 0 0 rg BT 90.02 566.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 115.56 566.25 Td (we ) Tj ET Q q 0 0 0 rg BT 130.27 566.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 162.73 566.25 Td (the ) Tj ET Q q 0 0 0 rg BT 178.00 566.25 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 211.87 566.25 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 253.24 566.25 Td (market ) Tj ET Q q 0 0 0 rg BT 284.04 566.25 Td (through ) Tj ET Q q 0 0 0 rg BT 318.20 566.25 Td (the ) Tj ET Q q 0 0 0 rg BT 333.46 566.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 380.38 566.25 Td (of ) Tj ET Q q 0 0 0 rg BT 391.76 566.25 Td (the ) Tj ET Q q 0 0 0 rg BT 407.02 566.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 465.62 566.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 491.99 566.25 Td (and ) Tj ET Q q 0 0 0 rg BT 509.47 566.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 554.17 566.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 554.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 86.69 554.25 Td (Homes. ) Tj ET Q q 0 0 0 rg BT 120.28 554.25 Td ( ) Tj ET Q q 0 0 0 rg BT 122.84 554.25 Td (The ) Tj ET Q q 0 0 0 rg BT 141.15 554.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 179.44 554.25 Td (price ) Tj ET Q q 0 0 0 rg BT 202.19 554.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.50 554.25 Td ($101.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.39 554.25 Td (. ) Tj ET Q q 0 0 0 rg BT 284.65 554.25 Td ( ) Tj ET Q q 0 0 0 rg BT 287.21 554.25 Td (The ) Tj ET Q q 0 0 0 rg BT 305.51 554.25 Td (results ) Tj ET Q q 0 0 0 rg BT 334.38 554.25 Td (of ) Tj ET Q q 0 0 0 rg BT 345.47 554.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 382.66 554.25 Td (Homes ) Tj ET Q q 0 0 0 rg BT 413.75 554.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 458.16 554.25 Td (have ) Tj ET Q q 0 0 0 rg BT 479.80 554.25 Td (been ) Tj ET Q q 0 0 0 rg BT 501.44 554.25 Td (included ) Tj ET Q q 0 0 0 rg BT 538.63 554.25 Td (in ) Tj ET Q q 0 0 0 rg BT 549.17 554.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 542.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.99 542.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 133.70 542.25 Td (since ) Tj ET Q q 0 0 0 rg BT 157.75 542.25 Td (March ) Tj ET Q q 0 0 0 rg BT 187.36 542.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 198.36 542.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 224.37 542.25 Td (the ) Tj ET Q q 0 0 0 rg BT 240.09 542.25 Td (ef) Tj ET Q q 0 0 0 rg BT 247.68 542.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 278.38 542.25 Td (date ) Tj ET Q q 0 0 0 rg BT 298.54 542.25 Td (of ) Tj ET Q q 0 0 0 rg BT 310.38 542.25 Td (the ) Tj ET Q q 0 0 0 rg BT 326.10 542.25 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 375.99 542.25 Td ( ) Tj ET Q q 0 0 0 rg BT 378.72 542.25 Td (As ) Tj ET Q q 0 0 0 rg BT 393.34 542.25 Td (a ) Tj ET Q q 0 0 0 rg BT 401.28 542.25 Td (result ) Tj ET Q q 0 0 0 rg BT 427.00 542.25 Td (of ) Tj ET Q q 0 0 0 rg BT 438.84 542.25 Td (the ) Tj ET Q q 0 0 0 rg BT 454.56 542.25 Td (transaction, ) Tj ET Q q 0 0 0 rg BT 504.44 542.25 Td (we ) Tj ET Q q 0 0 0 rg BT 519.60 542.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 558.08 542.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 530.25 Td (provisional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.86 530.25 Td ($16.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.75 530.25 Td ( ) Tj ET Q q 0 0 0 rg BT 155.12 530.25 Td (of ) Tj ET Q q 0 0 0 rg BT 166.81 530.25 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 205.73 530.25 Td (\(all ) Tj ET Q q 0 0 0 rg BT 222.42 530.25 Td (of ) Tj ET Q q 0 0 0 rg BT 234.11 530.25 Td (which ) Tj ET Q q 0 0 0 rg BT 261.92 530.25 Td (is ) Tj ET Q q 0 0 0 rg BT 271.95 530.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 287.53 530.25 Td (deductible\) ) Tj ET Q q 0 0 0 rg BT 335.88 530.25 Td (which ) Tj ET Q q 0 0 0 rg BT 363.68 530.25 Td (relates ) Tj ET Q q 0 0 0 rg BT 393.14 530.25 Td (to ) Tj ET Q q 0 0 0 rg BT 404.28 530.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 443.18 530.25 Td (syner) Tj ET Q q 0 0 0 rg BT 464.66 530.25 Td (gies ) Tj ET Q q 0 0 0 rg BT 484.13 530.25 Td (from ) Tj ET Q q 0 0 0 rg BT 506.93 530.25 Td (establishing ) Tj ET Q q 0 0 0 rg BT 558.07 530.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 518.25 Td (market ) Tj ET Q q 0 0 0 rg BT 79.72 518.25 Td (presence ) Tj ET Q q 0 0 0 rg BT 117.15 518.25 Td (in ) Tj ET Q q 0 0 0 rg BT 127.38 518.25 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 160.66 518.25 Td (the ) Tj ET Q q 0 0 0 rg BT 175.33 518.25 Td (experience ) Tj ET Q q 0 0 0 rg BT 221.08 518.25 Td (and ) Tj ET Q q 0 0 0 rg BT 237.97 518.25 Td (knowledge ) Tj ET Q q 0 0 0 rg BT 284.30 518.25 Td (of ) Tj ET Q q 0 0 0 rg BT 295.09 518.25 Td (the ) Tj ET Q q 0 0 0 rg BT 309.76 518.25 Td (acquired ) Tj ET Q q 0 0 0 rg BT 346.64 518.25 Td (workforce ) Tj ET Q q 0 0 0 rg BT 390.18 518.25 Td (and ) Tj ET Q q 0 0 0 rg BT 407.07 518.25 Td (the ) Tj ET Q q 0 0 0 rg BT 421.74 518.25 Td (capital-ef) Tj ET Q q 0 0 0 rg BT 459.31 518.25 Td (ficient ) Tj ET Q q 0 0 0 rg BT 487.31 518.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 527.52 518.25 Td (structure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 506.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.18 506.25 Td (the ) Tj ET Q q 0 0 0 rg BT 76.75 506.25 Td (business ) Tj ET Q q 0 0 0 rg BT 113.99 506.25 Td (acquired. ) Tj ET Q q 0 0 0 rg BT 154.26 506.25 Td ( ) Tj ET Q q 0 0 0 rg BT 157.37 506.25 Td (The ) Tj ET Q q 0 0 0 rg BT 176.26 506.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 220.16 506.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 243.51 506.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.19 506.25 Td ($84.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.08 506.25 Td ( ) Tj ET Q q 0 0 0 rg BT 312.43 506.25 Td (is ) Tj ET Q q 0 0 0 rg BT 322.45 506.25 Td (almost ) Tj ET Q q 0 0 0 rg BT 352.46 506.25 Td (entirely ) Tj ET Q q 0 0 0 rg BT 386.35 506.25 Td (comprised ) Tj ET Q q 0 0 0 rg BT 431.36 506.25 Td (of ) Tj ET Q q 0 0 0 rg BT 443.04 506.25 Td (the ) Tj ET Q q 0 0 0 rg BT 458.60 506.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 475.83 506.25 Td (value ) Tj ET Q q 0 0 0 rg BT 500.83 506.25 Td (of ) Tj ET Q q 0 0 0 rg BT 512.51 506.25 Td (the ) Tj ET Q q 0 0 0 rg BT 528.08 506.25 Td (acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 494.25 Td (inventory ) Tj ET Q q 0 0 0 rg BT 91.39 494.25 Td (with ) Tj ET Q q 0 0 0 rg BT 112.73 494.25 Td (an ) Tj ET Q q 0 0 0 rg BT 125.73 494.25 Td (insignificant ) Tj ET Q q 0 0 0 rg BT 179.28 494.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 212.84 494.25 Td (attributable ) Tj ET Q q 0 0 0 rg BT 261.94 494.25 Td (to ) Tj ET Q q 0 0 0 rg BT 273.28 494.25 Td (other ) Tj ET Q q 0 0 0 rg BT 297.39 494.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 324.28 494.25 Td (and ) Tj ET Q q 0 0 0 rg BT 342.28 494.25 Td (liabilities. ) Tj ET Q q 0 0 0 rg BT 385.56 494.25 Td ( ) Tj ET Q q 0 0 0 rg BT 389.12 494.25 Td (In ) Tj ET Q q 0 0 0 rg BT 401.01 494.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 449.53 494.25 Td (with ) Tj ET Q q 0 0 0 rg BT 470.09 494.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 493.10 494.25 Td (805-10, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 527.50 494.25 Td (Business ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 482.25 Td (Combinations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.62 482.25 Td ( ) Tj ET Q q 0 0 0 rg BT 107.59 482.25 Td (\(ASC ) Tj ET Q q 0 0 0 rg BT 136.78 482.25 Td (805\), ) Tj ET Q q 0 0 0 rg BT 164.02 482.25 Td (we ) Tj ET Q q 0 0 0 rg BT 177.65 482.25 Td (will ) Tj ET Q q 0 0 0 rg BT 195.18 482.25 Td (update ) Tj ET Q q 0 0 0 rg BT 223.80 482.25 Td (such ) Tj ET Q q 0 0 0 rg BT 244.10 482.25 Td (balances, ) Tj ET Q q 0 0 0 rg BT 283.00 482.25 Td (if ) Tj ET Q q 0 0 0 rg BT 291.07 482.25 Td (necessary) Tj ET Q q 0 0 0 rg BT 329.29 482.25 Td (, ) Tj ET Q q 0 0 0 rg BT 333.76 482.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 355.73 482.25 Td (further ) Tj ET Q q 0 0 0 rg BT 384.91 482.25 Td (verification ) Tj ET Q q 0 0 0 rg BT 432.97 482.25 Td (of ) Tj ET Q q 0 0 0 rg BT 443.27 482.25 Td (the ) Tj ET Q q 0 0 0 rg BT 457.46 482.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 473.30 482.25 Td (values ) Tj ET Q q 0 0 0 rg BT 500.82 482.25 Td (on ) Tj ET Q q 0 0 0 rg BT 512.79 482.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 541.96 482.25 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 470.25 Td (assets, ) Tj ET Q q 0 0 0 rg BT 78.28 470.25 Td (more ) Tj ET Q q 0 0 0 rg BT 101.77 470.25 Td (relevant ) Tj ET Q q 0 0 0 rg BT 136.92 470.25 Td (history ) Tj ET Q q 0 0 0 rg BT 167.65 470.25 Td (on ) Tj ET Q q 0 0 0 rg BT 180.60 470.25 Td (profitability ) Tj ET Q q 0 0 0 rg BT 231.32 470.25 Td (of ) Tj ET Q q 0 0 0 rg BT 242.59 470.25 Td (backlog, ) Tj ET Q q 0 0 0 rg BT 279.70 470.25 Td (and ) Tj ET Q q 0 0 0 rg BT 297.08 470.25 Td (further ) Tj ET Q q 0 0 0 rg BT 327.24 470.25 Td (understanding ) Tj ET Q q 0 0 0 rg BT 386.84 470.25 Td (of ) Tj ET Q q 0 0 0 rg BT 398.12 470.25 Td (the ) Tj ET Q q 0 0 0 rg BT 413.29 470.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 432.34 470.25 Td (to ) Tj ET Q q 0 0 0 rg BT 443.07 470.25 Td (complete ) Tj ET Q q 0 0 0 rg BT 482.67 470.25 Td (activities, ) Tj ET Q q 0 0 0 rg BT 524.21 470.25 Td (if ) Tj ET Q q 0 0 0 rg BT 533.27 470.25 Td (any) Tj ET Q q 0 0 0 rg BT 547.06 470.25 Td (, ) Tj ET Q q 0 0 0 rg BT 552.51 470.25 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 458.25 Td (purchased ) Tj ET Q q 0 0 0 rg BT 92.54 458.25 Td (communities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 434.25 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.25 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 89.81 412.25 Td (represents ) Tj ET Q q 0 0 0 rg BT 132.88 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 147.63 412.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 176.26 412.25 Td (of ) Tj ET Q q 0 0 0 rg BT 187.13 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 201.88 412.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 239.95 412.25 Td (price ) Tj ET Q q 0 0 0 rg BT 262.47 412.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 282.22 412.25 Td (over ) Tj ET Q q 0 0 0 rg BT 302.52 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 317.27 412.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 333.68 412.25 Td (value ) Tj ET Q q 0 0 0 rg BT 357.87 412.25 Td (of ) Tj ET Q q 0 0 0 rg BT 368.73 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 383.48 412.25 Td (net ) Tj ET Q q 0 0 0 rg BT 398.23 412.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 424.09 412.25 Td (acquired ) Tj ET Q q 0 0 0 rg BT 461.05 412.25 Td (and ) Tj ET Q q 0 0 0 rg BT 478.02 412.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 517.77 412.25 Td (assumed ) Tj ET Q q 0 0 0 rg BT 554.74 412.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 400.25 Td (business ) Tj ET Q q 0 0 0 rg BT 85.62 400.25 Td (combinations. ) Tj ET Q q 0 0 0 rg BT 144.23 400.25 Td ( ) Tj ET Q q 0 0 0 rg BT 146.46 400.25 Td (Because ) Tj ET Q q 0 0 0 rg BT 182.00 400.25 Td (the ) Tj ET Q q 0 0 0 rg BT 196.45 400.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 234.21 400.25 Td (price ) Tj ET Q q 0 0 0 rg BT 256.42 400.25 Td (allocation ) Tj ET Q q 0 0 0 rg BT 298.08 400.25 Td (is ) Tj ET Q q 0 0 0 rg BT 306.98 400.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 337.53 400.25 Td (to ) Tj ET Q q 0 0 0 rg BT 347.54 400.25 Td (change ) Tj ET Q q 0 0 0 rg BT 378.08 400.25 Td (within ) Tj ET Q q 0 0 0 rg BT 405.87 400.25 Td (a ) Tj ET Q q 0 0 0 rg BT 412.53 400.25 Td (measurement ) Tj ET Q q 0 0 0 rg BT 468.07 400.25 Td (period ) Tj ET Q q 0 0 0 rg BT 495.85 400.25 Td (of ) Tj ET Q q 0 0 0 rg BT 506.40 400.25 Td (up ) Tj ET Q q 0 0 0 rg BT 518.63 400.25 Td (to ) Tj ET Q q 0 0 0 rg BT 528.64 400.25 Td (one ) Tj ET Q q 0 0 0 rg BT 545.31 400.25 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 388.25 Td (from ) Tj ET Q q 0 0 0 rg BT 72.13 388.25 Td (the ) Tj ET Q q 0 0 0 rg BT 87.53 388.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 134.60 388.25 Td (date ) Tj ET Q q 0 0 0 rg BT 154.45 388.25 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 192.07 388.25 Td (to ) Tj ET Q q 0 0 0 rg BT 202.34 388.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 224.98 388.25 Td (805, ) Tj ET Q q 0 0 0 rg BT 245.67 388.25 Td (in ) Tj ET Q q 0 0 0 rg BT 256.63 388.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 303.69 388.25 Td (with ) Tj ET Q q 0 0 0 rg BT 324.66 388.25 Td (the ) Tj ET Q q 0 0 0 rg BT 340.07 388.25 Td (Company) Tj ET Q q 0 0 0 rg BT 381.73 388.25 Td (s ) Tj ET Q q 0 0 0 rg BT 388.81 388.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 435.88 388.25 Td (of ) Tj ET Q q 0 0 0 rg BT 447.40 388.25 Td (the ) Tj ET Q q 0 0 0 rg BT 462.81 388.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 521.55 388.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 548.06 388.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 376.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.56 376.25 Td (of ) Tj ET Q q 0 0 0 rg BT 104.30 376.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 141.14 376.25 Td (Homes ) Tj ET Q q 0 0 0 rg BT 171.87 376.25 Td (in ) Tj ET Q q 0 0 0 rg BT 182.06 376.25 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 215.29 376.25 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 256.02 376.25 Td (described ) Tj ET Q q 0 0 0 rg BT 296.74 376.25 Td (above, ) Tj ET Q q 0 0 0 rg BT 325.53 376.25 Td (the ) Tj ET Q q 0 0 0 rg BT 340.15 376.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 381.44 376.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 418.82 376.25 Td (a ) Tj ET Q q 0 0 0 rg BT 425.67 376.25 Td (provisional ) Tj ET Q q 0 0 0 rg BT 473.07 376.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 505.47 376.25 Td (of ) Tj ET Q q 0 0 0 rg BT 516.21 376.25 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 554.17 376.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 364.25 Td (approximately) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.76 364.25 Td ($16.4 ) Tj ET Q q 0 0 0 rg BT 133.76 364.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.65 364.25 Td (as ) Tj ET Q q 0 0 0 rg BT 174.99 364.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.82 364.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 219.65 364.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.65 364.25 Td (, ) Tj ET Q q 0 0 0 rg BT 243.66 364.25 Td (which ) Tj ET Q q 0 0 0 rg BT 269.60 364.25 Td (is ) Tj ET Q q 0 0 0 rg BT 277.77 364.25 Td (included ) Tj ET Q q 0 0 0 rg BT 313.71 364.25 Td (as ) Tj ET Q q 0 0 0 rg BT 323.54 364.25 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 362.82 364.25 Td (in ) Tj ET Q q 0 0 0 rg BT 372.10 364.25 Td (our ) Tj ET Q q 0 0 0 rg BT 386.93 364.25 Td (Unaudited ) Tj ET Q q 0 0 0 rg BT 430.09 364.25 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 476.03 364.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 530.31 364.25 Td (Balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 352.25 Td (Sheets. ) Tj ET Q q 0 0 0 rg BT 81.15 352.25 Td ( ) Tj ET Q q 0 0 0 rg BT 83.98 352.25 Td (This ) Tj ET Q q 0 0 0 rg BT 104.80 352.25 Td (provisional ) Tj ET Q q 0 0 0 rg BT 152.84 352.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 185.88 352.25 Td (was ) Tj ET Q q 0 0 0 rg BT 204.48 352.25 Td (based ) Tj ET Q q 0 0 0 rg BT 230.29 352.25 Td (on ) Tj ET Q q 0 0 0 rg BT 243.33 352.25 Td (the ) Tj ET Q q 0 0 0 rg BT 258.59 352.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 299.96 352.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 316.88 352.25 Td (values ) Tj ET Q q 0 0 0 rg BT 345.47 352.25 Td (of ) Tj ET Q q 0 0 0 rg BT 356.85 352.25 Td (the ) Tj ET Q q 0 0 0 rg BT 372.11 352.25 Td (acquired ) Tj ET Q q 0 0 0 rg BT 409.58 352.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 435.95 352.25 Td (and ) Tj ET Q q 0 0 0 rg BT 453.43 352.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 493.69 352.25 Td (at ) Tj ET Q q 0 0 0 rg BT 503.96 352.25 Td (the ) Tj ET Q q 0 0 0 rg BT 519.22 352.25 Td (date ) Tj ET Q q 0 0 0 rg BT 538.92 352.25 Td (of ) Tj ET Q q 0 0 0 rg BT 550.29 352.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 95.88 340.25 Td (in ) Tj ET Q q 0 0 0 rg BT 106.16 340.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 153.62 340.25 Td (with ) Tj ET Q q 0 0 0 rg BT 173.35 340.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 195.30 340.25 Td (350,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 212.80 340.25 Td ( ) Tj ET Q q 0 0 0 rg BT 215.30 340.25 Td (Intangibles, ) Tj ET Q q 0 0 0 rg BT 265.30 340.25 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 305.02 340.25 Td (and ) Tj ET Q q 0 0 0 rg BT 322.52 340.25 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.35 340.25 Td (\(ASC ) Tj ET Q q 0 0 0 rg BT 378.07 340.25 Td (350\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 316.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.53 316.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 108.19 316.25 Td (with ) Tj ET Q q 0 0 0 rg BT 128.08 316.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 150.23 316.25 Td (350, ) Tj ET Q q 0 0 0 rg BT 170.43 316.25 Td (the ) Tj ET Q q 0 0 0 rg BT 185.35 316.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 226.94 316.25 Td (analyzes ) Tj ET Q q 0 0 0 rg BT 264.07 316.25 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 302.32 316.25 Td (for ) Tj ET Q q 0 0 0 rg BT 316.69 316.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 365.49 316.25 Td (on ) Tj ET Q q 0 0 0 rg BT 378.19 316.25 Td (an ) Tj ET Q q 0 0 0 rg BT 390.33 316.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 419.69 316.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 442.39 316.25 Td (\(or ) Tj ET Q q 0 0 0 rg BT 456.75 316.25 Td (more ) Tj ET Q q 0 0 0 rg BT 480.00 316.25 Td (often ) Tj ET Q q 0 0 0 rg BT 503.25 316.25 Td (if ) Tj ET Q q 0 0 0 rg BT 512.06 316.25 Td (indicators ) Tj ET Q q 0 0 0 rg BT 554.19 316.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 304.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 97.51 304.25 Td (exist\). ) Tj ET Q q 0 0 0 rg BT 124.14 304.25 Td ( ) Tj ET Q q 0 0 0 rg BT 125.91 304.25 Td (The ) Tj ET Q q 0 0 0 rg BT 143.37 304.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 184.16 304.25 Td (performs ) Tj ET Q q 0 0 0 rg BT 222.17 304.25 Td (a ) Tj ET Q q 0 0 0 rg BT 228.52 304.25 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 272.64 304.25 Td (assessment ) Tj ET Q q 0 0 0 rg BT 318.99 304.25 Td (to ) Tj ET Q q 0 0 0 rg BT 328.68 304.25 Td (determine ) Tj ET Q q 0 0 0 rg BT 370.57 304.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 404.69 304.25 Td (the ) Tj ET Q q 0 0 0 rg BT 418.81 304.25 Td (existence ) Tj ET Q q 0 0 0 rg BT 457.93 304.25 Td (of ) Tj ET Q q 0 0 0 rg BT 468.17 304.25 Td (events ) Tj ET Q q 0 0 0 rg BT 495.63 304.25 Td (or ) Tj ET Q q 0 0 0 rg BT 505.87 304.25 Td (circumstances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.25 Td (leads ) Tj ET Q q 0 0 0 rg BT 72.27 292.25 Td (to ) Tj ET Q q 0 0 0 rg BT 82.28 292.25 Td (a ) Tj ET Q q 0 0 0 rg BT 88.94 292.25 Td (determination ) Tj ET Q q 0 0 0 rg BT 146.71 292.25 Td (that ) Tj ET Q q 0 0 0 rg BT 163.93 292.25 Td (it ) Tj ET Q q 0 0 0 rg BT 171.71 292.25 Td (is ) Tj ET Q q 0 0 0 rg BT 180.61 292.25 Td (more-likely-than-not ) Tj ET Q q 0 0 0 rg BT 266.14 292.25 Td (that ) Tj ET Q q 0 0 0 rg BT 283.36 292.25 Td (the ) Tj ET Q q 0 0 0 rg BT 297.81 292.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 313.91 292.25 Td (value ) Tj ET Q q 0 0 0 rg BT 337.79 292.25 Td (of ) Tj ET Q q 0 0 0 rg BT 348.35 292.25 Td (a ) Tj ET Q q 0 0 0 rg BT 355.01 292.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 393.89 292.25 Td (unit ) Tj ET Q q 0 0 0 rg BT 411.68 292.25 Td (is ) Tj ET Q q 0 0 0 rg BT 420.57 292.25 Td (less ) Tj ET Q q 0 0 0 rg BT 437.80 292.25 Td (than ) Tj ET Q q 0 0 0 rg BT 457.24 292.25 Td (its ) Tj ET Q q 0 0 0 rg BT 468.92 292.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 504.46 292.25 Td (amount. ) Tj ET Q q 0 0 0 rg BT 539.18 292.25 Td ( ) Tj ET Q q 0 0 0 rg BT 541.41 292.25 Td (If ) Tj ET Q q 0 0 0 rg BT 550.30 292.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 280.25 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 95.03 280.25 Td (assessment ) Tj ET Q q 0 0 0 rg BT 142.79 280.25 Td (indicates ) Tj ET Q q 0 0 0 rg BT 181.66 280.25 Td (that ) Tj ET Q q 0 0 0 rg BT 199.97 280.25 Td (it ) Tj ET Q q 0 0 0 rg BT 208.85 280.25 Td (is ) Tj ET Q q 0 0 0 rg BT 218.85 280.25 Td (more-likely-than-not ) Tj ET Q q 0 0 0 rg BT 305.47 280.25 Td (that ) Tj ET Q q 0 0 0 rg BT 323.79 280.25 Td (the ) Tj ET Q q 0 0 0 rg BT 339.33 280.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 356.53 280.25 Td (value ) Tj ET Q q 0 0 0 rg BT 381.51 280.25 Td (of ) Tj ET Q q 0 0 0 rg BT 393.16 280.25 Td (the ) Tj ET Q q 0 0 0 rg BT 408.70 280.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 448.68 280.25 Td (unit ) Tj ET Q q 0 0 0 rg BT 467.56 280.25 Td (is ) Tj ET Q q 0 0 0 rg BT 477.55 280.25 Td (less ) Tj ET Q q 0 0 0 rg BT 495.87 280.25 Td (than ) Tj ET Q q 0 0 0 rg BT 516.41 280.25 Td (its ) Tj ET Q q 0 0 0 rg BT 529.19 280.25 Td (carrying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 268.25 Td (amount, ) Tj ET Q q 0 0 0 rg BT 84.68 268.25 Td (then ) Tj ET Q q 0 0 0 rg BT 104.57 268.25 Td (a ) Tj ET Q q 0 0 0 rg BT 111.69 268.25 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 161.58 268.25 Td (assessment ) Tj ET Q q 0 0 0 rg BT 208.70 268.25 Td (is ) Tj ET Q q 0 0 0 rg BT 218.05 268.25 Td (performed ) Tj ET Q q 0 0 0 rg BT 262.38 268.25 Td (to ) Tj ET Q q 0 0 0 rg BT 272.83 268.25 Td (determine ) Tj ET Q q 0 0 0 rg BT 315.50 268.25 Td (the ) Tj ET Q q 0 0 0 rg BT 330.39 268.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 369.73 268.25 Td (unit) Tj ET Q q 0 0 0 rg BT 388.06 268.25 Td (s ) Tj ET Q q 0 0 0 rg BT 394.64 268.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 411.19 268.25 Td (value. ) Tj ET Q q 0 0 0 rg BT 438.03 268.25 Td ( ) Tj ET Q q 0 0 0 rg BT 440.71 268.25 Td (If ) Tj ET Q q 0 0 0 rg BT 450.05 268.25 Td (the ) Tj ET Q q 0 0 0 rg BT 464.95 268.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 504.29 268.25 Td (unit) Tj ET Q q 0 0 0 rg BT 522.62 268.25 Td (s ) Tj ET Q q 0 0 0 rg BT 529.19 268.25 Td (carrying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 256.25 Td (value ) Tj ET Q q 0 0 0 rg BT 73.84 256.25 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 108.17 256.25 Td (its ) Tj ET Q q 0 0 0 rg BT 120.30 256.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 136.86 256.25 Td (value, ) Tj ET Q q 0 0 0 rg BT 163.70 256.25 Td (then ) Tj ET Q q 0 0 0 rg BT 183.60 256.25 Td (an ) Tj ET Q q 0 0 0 rg BT 195.72 256.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 244.50 256.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 262.74 256.25 Td (is ) Tj ET Q q 0 0 0 rg BT 272.10 256.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 318.64 256.25 Td (for ) Tj ET Q q 0 0 0 rg BT 332.99 256.25 Td (the ) Tj ET Q q 0 0 0 rg BT 347.89 256.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 380.56 256.25 Td (of ) Tj ET Q q 0 0 0 rg BT 391.58 256.25 Td (the ) Tj ET Q q 0 0 0 rg BT 406.48 256.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 435.26 256.25 Td (of ) Tj ET Q q 0 0 0 rg BT 446.27 256.25 Td (the ) Tj ET Q q 0 0 0 rg BT 461.17 256.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 497.17 256.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 529.85 256.25 Td (over ) Tj ET Q q 0 0 0 rg BT 550.30 256.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 88.66 244.25 Td (unit) Tj ET Q q 0 0 0 rg BT 106.99 244.25 Td (s ) Tj ET Q q 0 0 0 rg BT 113.38 244.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 129.76 244.25 Td (value. ) Tj ET Q q 0 0 0 rg BT 156.41 244.25 Td ( ) Tj ET Q q 0 0 0 rg BT 158.36 244.25 Td (As ) Tj ET Q q 0 0 0 rg BT 171.98 244.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.81 244.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 218.64 244.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.64 244.25 Td (, ) Tj ET Q q 0 0 0 rg BT 243.64 244.25 Td (there ) Tj ET Q q 0 0 0 rg BT 266.12 244.25 Td (were ) Tj ET Q q 0 0 0 rg BT 288.05 244.25 Td (no ) Tj ET Q q 0 0 0 rg BT 300.55 244.25 Td (indicators ) Tj ET Q q 0 0 0 rg BT 342.48 244.25 Td (that ) Tj ET Q q 0 0 0 rg BT 359.98 244.25 Td (our ) Tj ET Q q 0 0 0 rg BT 375.81 244.25 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 413.87 244.25 Td (was ) Tj ET Q q 0 0 0 rg BT 431.92 244.25 Td (impaired.) Tj ET Q endstream endobj 41 0 obj <>] /Rotate 0 /Contents 42 0 R>> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.34 740.25 Td (8. ) Tj ET Q q 0 0 0 rg BT 90.34 740.25 Td (Debt) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.33 718.25 Td (Payable ) Tj ET Q q 0 0 0 rg BT 110.59 718.25 Td (- ) Tj ET Q q 0 0 0 rg BT 116.42 718.25 Td (Homebuilding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 696.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.70 696.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 95.36 696.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 128.57 696.25 Td (provides ) Tj ET Q q 0 0 0 rg BT 165.66 696.25 Td (an ) Tj ET Q q 0 0 0 rg BT 177.76 696.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 219.28 696.25 Td (commitment ) Tj ET Q q 0 0 0 rg BT 272.48 696.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 305.14 696.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.12 696.25 Td ($500 ) Tj ET Q q 0 0 0 rg BT 338.78 696.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.67 696.25 Td (, ) Tj ET Q q 0 0 0 rg BT 372.83 696.25 Td (including ) Tj ET Q q 0 0 0 rg BT 413.26 696.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.36 696.25 Td ($125 ) Tj ET Q q 0 0 0 rg BT 443.02 696.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.91 696.25 Td ( ) Tj ET Q q 0 0 0 rg BT 474.57 696.25 Td (sub-facility ) Tj ET Q q 0 0 0 rg BT 522.77 696.25 Td (for ) Tj ET Q q 0 0 0 rg BT 537.08 696.25 Td (letters ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 684.25 Td (of ) Tj ET Q q 0 0 0 rg BT 59.79 684.25 Td (credit. ) Tj ET Q q 0 0 0 rg BT 87.01 684.25 Td ( ) Tj ET Q q 0 0 0 rg BT 88.97 684.25 Td (During ) Tj ET Q q 0 0 0 rg BT 119.26 684.25 Td (the ) Tj ET Q q 0 0 0 rg BT 133.44 684.25 Td (second ) Tj ET Q q 0 0 0 rg BT 163.17 684.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 193.44 684.25 Td (of ) Tj ET Q q 0 0 0 rg BT 203.73 684.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 228.19 684.25 Td ( ) Tj ET Q q 0 0 0 rg BT 230.15 684.25 Td (the ) Tj ET Q q 0 0 0 rg BT 244.33 684.25 Td ( ) Tj ET Q q 0 0 0 rg BT 246.29 684.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 287.13 684.25 Td (exercised ) Tj ET Q q 0 0 0 rg BT 326.84 684.25 Td (an ) Tj ET Q q 0 0 0 rg BT 338.24 684.25 Td (accordion ) Tj ET Q q 0 0 0 rg BT 379.63 684.25 Td (feature ) Tj ET Q q 0 0 0 rg BT 409.34 684.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 446.85 684.25 Td (for ) Tj ET Q q 0 0 0 rg BT 460.47 684.25 Td (within ) Tj ET Q q 0 0 0 rg BT 487.98 684.25 Td (the ) Tj ET Q q 0 0 0 rg BT 502.16 684.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 529.11 684.25 Td (Facility) Tj ET Q q 0 0 0 rg BT 559.01 684.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (which ) Tj ET Q q 0 0 0 rg BT 77.45 672.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 118.72 672.25 Td (the ) Tj ET Q q 0 0 0 rg BT 134.45 672.25 Td (total ) Tj ET Q q 0 0 0 rg BT 155.73 672.25 Td (revolving ) Tj ET Q q 0 0 0 rg BT 197.57 672.25 Td (commitment ) Tj ET Q q 0 0 0 rg BT 251.63 672.25 Td (under ) Tj ET Q q 0 0 0 rg BT 277.91 672.25 Td (the ) Tj ET Q q 0 0 0 rg BT 293.64 672.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 322.15 672.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 356.21 672.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.16 672.25 Td ($475 ) Tj ET Q q 0 0 0 rg BT 402.67 672.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.56 672.25 Td ( ) Tj ET Q q 0 0 0 rg BT 435.08 672.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.37 672.25 Td ($500 ) Tj ET Q q 0 0 0 rg BT 469.88 672.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.77 672.25 Td ( ) Tj ET Q q 0 0 0 rg BT 502.28 672.25 Td (by ) Tj ET Q q 0 0 0 rg BT 515.79 672.25 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 557.08 672.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 660.25 Td (commitment ) Tj ET Q q 0 0 0 rg BT 101.88 660.25 Td (from ) Tj ET Q q 0 0 0 rg BT 123.16 660.25 Td (an ) Tj ET Q q 0 0 0 rg BT 134.43 660.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 176.25 660.25 Td (lender ) Tj ET Q q 0 0 0 rg BT 203.07 660.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.24 660.25 Td ($25 ) Tj ET Q q 0 0 0 rg BT 230.07 660.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.97 660.25 Td (. ) Tj ET Q q 0 0 0 rg BT 263.30 660.25 Td ( ) Tj ET Q q 0 0 0 rg BT 265.00 660.25 Td (The ) Tj ET Q q 0 0 0 rg BT 282.38 660.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 309.21 660.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 341.60 660.25 Td (expires ) Tj ET Q q 0 0 0 rg BT 372.31 660.25 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 660.25 Td (July18, ) Tj ET Q q 0 0 0 rg BT 417.65 660.25 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 660.25 Td (. ) Tj ET Q q 0 0 0 rg BT 441.99 660.25 Td ( ) Tj ET Q q 0 0 0 rg BT 443.82 660.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 475.64 660.25 Td (on ) Tj ET Q q 0 0 0 rg BT 487.48 660.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 523.20 660.25 Td (borrowed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 648.25 Td (under ) Tj ET Q q 0 0 0 rg BT 74.72 648.25 Td (the ) Tj ET Q q 0 0 0 rg BT 89.39 648.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 116.83 648.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 149.83 648.25 Td (was ) Tj ET Q q 0 0 0 rg BT 167.83 648.25 Td (payable ) Tj ET Q q 0 0 0 rg BT 201.38 648.25 Td (at ) Tj ET Q q 0 0 0 rg BT 211.05 648.25 Td (a ) Tj ET Q q 0 0 0 rg BT 217.93 648.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 235.37 648.25 Td (which ) Tj ET Q q 0 0 0 rg BT 262.26 648.25 Td (is ) Tj ET Q q 0 0 0 rg BT 271.38 648.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 307.15 648.25 Td (daily ) Tj ET Q q 0 0 0 rg BT 329.60 648.25 Td (and ) Tj ET Q q 0 0 0 rg BT 346.49 648.25 Td (is ) Tj ET Q q 0 0 0 rg BT 355.61 648.25 Td (equal ) Tj ET Q q 0 0 0 rg BT 379.71 648.25 Td (to ) Tj ET Q q 0 0 0 rg BT 389.94 648.25 Td (the ) Tj ET Q q 0 0 0 rg BT 404.61 648.25 Td (sum ) Tj ET Q q 0 0 0 rg BT 423.73 648.25 Td (of ) Tj ET Q q 0 0 0 rg BT 434.51 648.25 Td (the ) Tj ET Q q 0 0 0 rg BT 449.18 648.25 Td (one-month ) Tj ET Q q 0 0 0 rg BT 494.95 648.25 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 527.40 648.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 544.84 648.25 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 636.25 Td (a ) Tj ET Q q 0 0 0 rg BT 55.69 636.25 Td (mar) Tj ET Q q 0 0 0 rg BT 71.06 636.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 85.58 636.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.66 636.25 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.66 636.25 Td ( ) Tj ET Q q 0 0 0 rg BT 112.42 636.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 134.17 636.25 Td (points. ) Tj ET Q q 0 0 0 rg BT 162.86 636.25 Td ( ) Tj ET Q q 0 0 0 rg BT 164.49 636.25 Td (The ) Tj ET Q q 0 0 0 rg BT 181.79 636.25 Td (mar) Tj ET Q q 0 0 0 rg BT 197.15 636.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 211.68 636.25 Td (is ) Tj ET Q q 0 0 0 rg BT 220.10 636.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 250.18 636.25 Td (to ) Tj ET Q q 0 0 0 rg BT 259.71 636.25 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 305.34 636.25 Td (in ) Tj ET Q q 0 0 0 rg BT 314.87 636.25 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 361.06 636.25 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 398.90 636.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 430.09 636.25 Td (based ) Tj ET Q q 0 0 0 rg BT 454.61 636.25 Td (on ) Tj ET Q q 0 0 0 rg BT 466.36 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 480.33 636.25 Td (Company) Tj ET Q q 0 0 0 rg BT 521.99 636.25 Td (s ) Tj ET Q q 0 0 0 rg BT 527.63 636.25 Td (leverage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 624.25 Td (ratio. ) Tj ET Q q 0 0 0 rg BT 72.96 624.25 Td ( ) Tj ET Q q 0 0 0 rg BT 75.40 624.25 Td (The ) Tj ET Q q 0 0 0 rg BT 93.58 624.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 121.20 624.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 154.39 624.25 Td (also ) Tj ET Q q 0 0 0 rg BT 173.13 624.25 Td (contains ) Tj ET Q q 0 0 0 rg BT 209.08 624.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 238.92 624.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 276.53 624.25 Td (covenants. ) Tj ET Q q 0 0 0 rg BT 321.65 624.25 Td ( ) Tj ET Q q 0 0 0 rg BT 323.70 624.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.33 624.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 372.29 624.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.29 624.25 Td (, ) Tj ET Q q 0 0 0 rg BT 397.42 624.25 Td (the ) Tj ET Q q 0 0 0 rg BT 412.27 624.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 453.79 624.25 Td (was ) Tj ET Q q 0 0 0 rg BT 471.98 624.25 Td (in ) Tj ET Q q 0 0 0 rg BT 482.39 624.25 Td (compliance ) Tj ET Q q 0 0 0 rg BT 531.11 624.25 Td (with ) Tj ET Q q 0 0 0 rg BT 551.52 624.25 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 612.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.98 612.25 Td (covenants ) Tj ET Q q 0 0 0 rg BT 129.47 612.25 Td (of ) Tj ET Q q 0 0 0 rg BT 140.30 612.25 Td (the ) Tj ET Q q 0 0 0 rg BT 155.01 612.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 182.51 612.25 Td (Facility) Tj ET Q q 0 0 0 rg BT 212.41 612.25 Td (. ) Tj ET Q q 0 0 0 rg BT 217.41 612.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 590.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.16 590.25 Td (available ) Tj ET Q q 0 0 0 rg BT 105.37 590.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 137.48 590.25 Td (under ) Tj ET Q q 0 0 0 rg BT 162.37 590.25 Td (the ) Tj ET Q q 0 0 0 rg BT 176.70 590.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 203.81 590.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 236.48 590.25 Td (is ) Tj ET Q q 0 0 0 rg BT 245.27 590.25 Td (computed ) Tj ET Q q 0 0 0 rg BT 286.82 590.25 Td (in ) Tj ET Q q 0 0 0 rg BT 296.71 590.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 343.79 590.25 Td (with ) Tj ET Q q 0 0 0 rg BT 363.68 590.25 Td (a ) Tj ET Q q 0 0 0 rg BT 370.24 590.25 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 414.02 590.25 Td (base, ) Tj ET Q q 0 0 0 rg BT 436.40 590.25 Td (which ) Tj ET Q q 0 0 0 rg BT 462.96 590.25 Td (is ) Tj ET Q q 0 0 0 rg BT 471.74 590.25 Td (calculated ) Tj ET Q q 0 0 0 rg BT 514.39 590.25 Td (by ) Tj ET Q q 0 0 0 rg BT 526.50 590.25 Td (applying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 578.25 Td (various ) Tj ET Q q 0 0 0 rg BT 81.39 578.25 Td (advance ) Tj ET Q q 0 0 0 rg BT 116.59 578.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 137.91 578.25 Td (for ) Tj ET Q q 0 0 0 rg BT 152.02 578.25 Td (dif) Tj ET Q q 0 0 0 rg BT 162.95 578.25 Td (ferent ) Tj ET Q q 0 0 0 rg BT 188.71 578.25 Td (categories ) Tj ET Q q 0 0 0 rg BT 231.69 578.25 Td (of ) Tj ET Q q 0 0 0 rg BT 242.47 578.25 Td (inventory) Tj ET Q q 0 0 0 rg BT 280.15 578.25 Td (, ) Tj ET Q q 0 0 0 rg BT 285.09 578.25 Td (and ) Tj ET Q q 0 0 0 rg BT 301.98 578.25 Td (totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.64 578.25 Td ($622.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.53 578.25 Td ( ) Tj ET Q q 0 0 0 rg BT 392.98 578.25 Td (of ) Tj ET Q q 0 0 0 rg BT 403.76 578.25 Td (availability ) Tj ET Q q 0 0 0 rg BT 451.19 578.25 Td (for ) Tj ET Q q 0 0 0 rg BT 465.30 578.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 507.73 578.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 534.62 578.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 554.29 578.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 566.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 85.62 566.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.62 566.25 Td (. ) Tj ET Q q 0 0 0 rg BT 110.91 566.25 Td ( ) Tj ET Q q 0 0 0 rg BT 113.08 566.25 Td (As ) Tj ET Q q 0 0 0 rg BT 126.98 566.25 Td (a ) Tj ET Q q 0 0 0 rg BT 134.21 566.25 Td (result, ) Tj ET Q q 0 0 0 rg BT 161.71 566.25 Td (the ) Tj ET Q q 0 0 0 rg BT 176.72 566.25 Td (full ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.39 566.25 Td ($500 ) Tj ET Q q 0 0 0 rg BT 216.18 566.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.07 566.25 Td ( ) Tj ET Q q 0 0 0 rg BT 247.86 566.25 Td (commitment ) Tj ET Q q 0 0 0 rg BT 301.19 566.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 333.98 566.25 Td (of ) Tj ET Q q 0 0 0 rg BT 345.10 566.25 Td (the ) Tj ET Q q 0 0 0 rg BT 360.10 566.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 387.88 566.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 421.22 566.25 Td (was ) Tj ET Q q 0 0 0 rg BT 439.56 566.25 Td (available, ) Tj ET Q q 0 0 0 rg BT 480.94 566.25 Td (less ) Tj ET Q q 0 0 0 rg BT 498.73 566.25 Td (any ) Tj ET Q q 0 0 0 rg BT 515.96 566.25 Td (borrowings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 554.25 Td (and ) Tj ET Q q 0 0 0 rg BT 67.01 554.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 94.51 554.25 Td (of ) Tj ET Q q 0 0 0 rg BT 105.92 554.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 131.75 554.25 Td (outstanding. ) Tj ET Q q 0 0 0 rg BT 183.99 554.25 Td ( ) Tj ET Q q 0 0 0 rg BT 186.38 554.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.45 554.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 235.85 554.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.85 554.25 Td (, ) Tj ET Q q 0 0 0 rg BT 261.42 554.25 Td (there ) Tj ET Q q 0 0 0 rg BT 284.48 554.25 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.98 554.25 Td ($181.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.87 554.25 Td ( ) Tj ET Q q 0 0 0 rg BT 368.94 554.25 Td (of ) Tj ET Q q 0 0 0 rg BT 380.35 554.25 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 428.97 554.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 478.71 554.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.21 554.25 Td ($49.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.11 554.25 Td ( ) Tj ET Q q 0 0 0 rg BT 553.18 554.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 542.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 76.43 542.25 Td (of ) Tj ET Q q 0 0 0 rg BT 87.26 542.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 112.53 542.25 Td (outstanding, ) Tj ET Q q 0 0 0 rg BT 164.19 542.25 Td (leaving ) Tj ET Q q 0 0 0 rg BT 196.13 542.25 Td (net ) Tj ET Q q 0 0 0 rg BT 210.84 542.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 253.88 542.25 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 298.04 542.25 Td (availability ) Tj ET Q q 0 0 0 rg BT 345.53 542.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.36 542.25 Td ($268.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.25 542.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.70 520.25 Td (Company) Tj ET Q q 0 0 0 rg BT 109.37 520.25 Td (s ) Tj ET Q q 0 0 0 rg BT 115.92 520.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 163.02 520.25 Td (under ) Tj ET Q q 0 0 0 rg BT 188.45 520.25 Td (the ) Tj ET Q q 0 0 0 rg BT 203.32 520.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 230.97 520.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 264.18 520.25 Td (are ) Tj ET Q q 0 0 0 rg BT 279.05 520.25 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 325.57 520.25 Td (by ) Tj ET Q q 0 0 0 rg BT 338.23 520.25 Td (all ) Tj ET Q q 0 0 0 rg BT 350.88 520.25 Td (of ) Tj ET Q q 0 0 0 rg BT 361.87 520.25 Td (the ) Tj ET Q q 0 0 0 rg BT 376.74 520.25 Td (Company) Tj ET Q q 0 0 0 rg BT 418.41 520.25 Td (s ) Tj ET Q q 0 0 0 rg BT 424.96 520.25 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 477.33 520.25 Td (with ) Tj ET Q q 0 0 0 rg BT 497.77 520.25 Td (the ) Tj ET Q q 0 0 0 rg BT 512.64 520.25 Td (exception ) Tj ET Q q 0 0 0 rg BT 554.17 520.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 98.49 508.25 Td (that ) Tj ET Q q 0 0 0 rg BT 115.25 508.25 Td (are ) Tj ET Q q 0 0 0 rg BT 129.23 508.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 168.21 508.25 Td (engaged ) Tj ET Q q 0 0 0 rg BT 203.30 508.25 Td (in ) Tj ET Q q 0 0 0 rg BT 212.84 508.25 Td (the ) Tj ET Q q 0 0 0 rg BT 226.83 508.25 Td (business ) Tj ET Q q 0 0 0 rg BT 262.49 508.25 Td (of ) Tj ET Q q 0 0 0 rg BT 272.59 508.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 312.13 508.25 Td (financing, ) Tj ET Q q 0 0 0 rg BT 354.16 508.25 Td (title ) Tj ET Q q 0 0 0 rg BT 371.48 508.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 411.57 508.25 Td (or ) Tj ET Q q 0 0 0 rg BT 421.67 508.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 451.21 508.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 487.96 508.25 Td (businesses ) Tj ET Q q 0 0 0 rg BT 531.95 508.25 Td (relating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.22 496.25 Td (the ) Tj ET Q q 0 0 0 rg BT 73.37 496.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 130.86 496.25 Td (and ) Tj ET Q q 0 0 0 rg BT 147.24 496.25 Td (home ) Tj ET Q q 0 0 0 rg BT 171.39 496.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 192.77 496.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 231.09 496.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 260.23 496.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 309.39 496.25 Td (that ) Tj ET Q q 0 0 0 rg BT 326.32 496.25 Td (are ) Tj ET Q q 0 0 0 rg BT 340.47 496.25 Td (not ) Tj ET Q q 0 0 0 rg BT 355.18 496.25 Td (100%-owned ) Tj ET Q q 0 0 0 rg BT 410.44 496.25 Td (by ) Tj ET Q q 0 0 0 rg BT 422.38 496.25 Td (the ) Tj ET Q q 0 0 0 rg BT 436.53 496.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 477.36 496.25 Td (or ) Tj ET Q q 0 0 0 rg BT 487.62 496.25 Td (another ) Tj ET Q q 0 0 0 rg BT 519.55 496.25 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 560.00 496.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 484.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.01 484.25 Td (other ) Tj ET Q q 0 0 0 rg BT 88.63 484.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 137.92 484.25 Td (designated ) Tj ET Q q 0 0 0 rg BT 182.76 484.25 Td (by ) Tj ET Q q 0 0 0 rg BT 194.83 484.25 Td (the ) Tj ET Q q 0 0 0 rg BT 209.12 484.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 250.08 484.25 Td (as ) Tj ET Q q 0 0 0 rg BT 260.48 484.25 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 311.98 484.25 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 362.94 484.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 376.67 484.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 408.73 484.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 418.57958984375 482.9169921875 m 450.0908203125 482.9169921875 l s q 0 0 1 rg BT 418.58 484.25 Td (Note ) Tj ET Q q 0 0 1 rg BT 440.09 484.25 Td (12) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 450.09 484.25 Td ( ) Tj ET Q q 0 0 0 rg BT 452.16 484.25 Td (to ) Tj ET Q q 0 0 0 rg BT 462.01 484.25 Td (our ) Tj ET Q q 0 0 0 rg BT 477.42 484.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 514.47 484.25 Td (statements\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 472.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 79.66 472.25 Td (to ) Tj ET Q q 0 0 0 rg BT 89.27 472.25 Td (limitations ) Tj ET Q q 0 0 0 rg BT 133.88 472.25 Td (on ) Tj ET Q q 0 0 0 rg BT 145.71 472.25 Td (the ) Tj ET Q q 0 0 0 rg BT 159.76 472.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 200.46 472.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 232.28 472.25 Td (invested ) Tj ET Q q 0 0 0 rg BT 267.44 472.25 Td (in ) Tj ET Q q 0 0 0 rg BT 277.05 472.25 Td (such ) Tj ET Q q 0 0 0 rg BT 297.21 472.25 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 348.47 472.25 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 399.19 472.25 Td (in ) Tj ET Q q 0 0 0 rg BT 408.80 472.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 455.59 472.25 Td (with ) Tj ET Q q 0 0 0 rg BT 475.21 472.25 Td (the ) Tj ET Q q 0 0 0 rg BT 489.25 472.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 513.30 472.25 Td (of ) Tj ET Q q 0 0 0 rg BT 523.47 472.25 Td (the ) Tj ET Q q 0 0 0 rg BT 537.52 472.25 Td (Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 460.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 82.57 460.25 Td (and ) Tj ET Q q 0 0 0 rg BT 99.53 460.25 Td (the ) Tj ET Q q 0 0 0 rg BT 114.27 460.25 Td (indentures ) Tj ET Q q 0 0 0 rg BT 158.44 460.25 Td (for ) Tj ET Q q 0 0 0 rg BT 172.62 460.25 Td (the ) Tj ET Q q 0 0 0 rg BT 187.36 460.25 Td (Company) Tj ET Q q 0 0 0 rg BT 229.02 460.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.43 460.25 Td ($250.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.32 460.25 Td ( ) Tj ET Q q 0 0 0 rg BT 296.84 460.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 338.23 460.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 376.29 460.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 408.80 460.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 460.25 Td (5.625%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.48 460.25 Td ( ) Tj ET Q q 0 0 0 rg BT 453.00 460.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 481.63 460.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 507.48 460.25 Td (due ) Tj ET Q q 0 0 0 rg BT 524.44 460.25 Td (2025 ) Tj ET Q q 0 0 0 rg BT 546.96 460.25 Td (\(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 448.25 Td (2025 ) Tj ET Q q 0 0 0 rg BT 76.16 448.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 104.50 448.25 Td (Notes\) ) Tj ET Q q 0 0 0 rg BT 137.82 448.25 Td (and ) Tj ET Q q 0 0 0 rg BT 154.49 448.25 Td (the ) Tj ET Q q 0 0 0 rg BT 168.93 448.25 Td (Company) Tj ET Q q 0 0 0 rg BT 210.59 448.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.71 448.25 Td ($300.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.60 448.25 Td ( ) Tj ET Q q 0 0 0 rg BT 277.83 448.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 318.92 448.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 356.68 448.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 388.90 448.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.46 448.25 Td (6.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.29 448.25 Td ( ) Tj ET Q q 0 0 0 rg BT 427.52 448.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 455.85 448.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 481.41 448.25 Td (due ) Tj ET Q q 0 0 0 rg BT 498.07 448.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 520.29 448.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 538.07 448.25 Td (2021 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 78.01 436.25 Td (Notes\). ) Tj ET Q q 0 0 0 rg BT 113.84 436.25 Td (The ) Tj ET Q q 0 0 0 rg BT 131.79 436.25 Td (guarantors ) Tj ET Q q 0 0 0 rg BT 176.40 436.25 Td (for ) Tj ET Q q 0 0 0 rg BT 190.47 436.25 Td (the ) Tj ET Q q 0 0 0 rg BT 205.09 436.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 232.49 436.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 265.44 436.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 283.39 436.25 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 330.77 436.25 Td (Subsidiaries\) ) Tj ET Q q 0 0 0 rg BT 389.83 436.25 Td (are ) Tj ET Q q 0 0 0 rg BT 404.44 436.25 Td (the ) Tj ET Q q 0 0 0 rg BT 419.06 436.25 Td (same ) Tj ET Q q 0 0 0 rg BT 442.01 436.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 491.63 436.25 Td (that ) Tj ET Q q 0 0 0 rg BT 509.03 436.25 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 550.30 436.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 424.25 Td (2025 ) Tj ET Q q 0 0 0 rg BT 72.00 424.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 100.61 424.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 126.44 424.25 Td (and ) Tj ET Q q 0 0 0 rg BT 143.38 424.25 Td (the ) Tj ET Q q 0 0 0 rg BT 158.09 424.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 180.59 424.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 209.20 424.25 Td (Notes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.21 402.25 Td (Company) Tj ET Q q 0 0 0 rg BT 108.87 402.25 Td (s ) Tj ET Q q 0 0 0 rg BT 114.93 402.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 161.53 402.25 Td (under ) Tj ET Q q 0 0 0 rg BT 186.46 402.25 Td (the ) Tj ET Q q 0 0 0 rg BT 200.84 402.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 228.00 402.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 260.71 402.25 Td (are ) Tj ET Q q 0 0 0 rg BT 275.08 402.25 Td (general, ) Tj ET Q q 0 0 0 rg BT 309.17 402.25 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 351.87 402.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 378.47 402.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 425.07 402.25 Td (of ) Tj ET Q q 0 0 0 rg BT 435.57 402.25 Td (the ) Tj ET Q q 0 0 0 rg BT 449.95 402.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 490.99 402.25 Td (and ) Tj ET Q q 0 0 0 rg BT 507.59 402.25 Td (the ) Tj ET Q q 0 0 0 rg BT 521.97 402.25 Td (Guarantor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.25 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 100.40 390.25 Td (and ) Tj ET Q q 0 0 0 rg BT 116.86 390.25 Td (rank ) Tj ET Q q 0 0 0 rg BT 136.64 390.25 Td (equally ) Tj ET Q q 0 0 0 rg BT 168.09 390.25 Td (in ) Tj ET Q q 0 0 0 rg BT 177.89 390.25 Td (right ) Tj ET Q q 0 0 0 rg BT 198.79 390.25 Td (of ) Tj ET Q q 0 0 0 rg BT 209.14 390.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 245.59 390.25 Td (with ) Tj ET Q q 0 0 0 rg BT 265.38 390.25 Td (all ) Tj ET Q q 0 0 0 rg BT 277.40 390.25 Td (our ) Tj ET Q q 0 0 0 rg BT 292.74 390.25 Td (and ) Tj ET Q q 0 0 0 rg BT 309.20 390.25 Td (the ) Tj ET Q q 0 0 0 rg BT 323.43 390.25 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 365.98 390.25 Td (Subsidiaries) Tj ET Q q 0 0 0 rg BT 417.46 390.25 Td ( ) Tj ET Q q 0 0 0 rg BT 419.48 390.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 453.16 390.25 Td (and ) Tj ET Q q 0 0 0 rg BT 469.61 390.25 Td (future ) Tj ET Q q 0 0 0 rg BT 495.51 390.25 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 538.06 390.25 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.25 Td (indebtedness. ) Tj ET Q q 0 0 0 rg BT 105.45 378.25 Td ( ) Tj ET Q q 0 0 0 rg BT 107.24 378.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 124.58 378.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 170.81 378.25 Td (under ) Tj ET Q q 0 0 0 rg BT 195.37 378.25 Td (the ) Tj ET Q q 0 0 0 rg BT 209.38 378.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 236.17 378.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 268.51 378.25 Td (are ) Tj ET Q q 0 0 0 rg BT 282.51 378.25 Td (ef) Tj ET Q q 0 0 0 rg BT 290.10 378.25 Td (fectively ) Tj ET Q q 0 0 0 rg BT 326.87 378.25 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 380.31 378.25 Td (to ) Tj ET Q q 0 0 0 rg BT 389.88 378.25 Td (our ) Tj ET Q q 0 0 0 rg BT 405.00 378.25 Td (and ) Tj ET Q q 0 0 0 rg BT 421.23 378.25 Td (the ) Tj ET Q q 0 0 0 rg BT 435.24 378.25 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 477.57 378.25 Td (Subsidiaries) Tj ET Q q 0 0 0 rg BT 529.04 378.25 Td ( ) Tj ET Q q 0 0 0 rg BT 530.84 378.25 Td (existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 366.25 Td (future ) Tj ET Q q 0 0 0 rg BT 92.82 366.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 125.85 366.25 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 180.01 366.25 Td (with ) Tj ET Q q 0 0 0 rg BT 200.29 366.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 231.10 366.25 Td (to ) Tj ET Q q 0 0 0 rg BT 241.38 366.25 Td (any ) Tj ET Q q 0 0 0 rg BT 258.32 366.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 284.15 366.25 Td (comprising ) Tj ET Q q 0 0 0 rg BT 331.64 366.25 Td (security ) Tj ET Q q 0 0 0 rg BT 365.80 366.25 Td (or ) Tj ET Q q 0 0 0 rg BT 376.63 366.25 Td (collateral ) Tj ET Q q 0 0 0 rg BT 416.33 366.25 Td (for ) Tj ET Q q 0 0 0 rg BT 430.49 366.25 Td (such ) Tj ET Q q 0 0 0 rg BT 451.32 366.25 Td (indebtedness.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.25 Td (As ) Tj ET Q q 0 0 0 rg BT 62.58 344.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.87 344.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 108.16 344.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.16 344.25 Td (, ) Tj ET Q q 0 0 0 rg BT 132.63 344.25 Td (the ) Tj ET Q q 0 0 0 rg BT 146.80 344.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 187.65 344.25 Td (was ) Tj ET Q q 0 0 0 rg BT 205.17 344.25 Td (a ) Tj ET Q q 0 0 0 rg BT 211.57 344.25 Td (party ) Tj ET Q q 0 0 0 rg BT 234.08 344.25 Td (to ) Tj ET Q q 0 0 0 rg BT 243.82 344.25 Td (a ) Tj ET Q q 0 0 0 rg BT 250.22 344.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 282.72 344.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 307.45 344.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 337.73 344.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 381.34 344.25 Td (for ) Tj ET Q q 0 0 0 rg BT 394.96 344.25 Td (the ) Tj ET Q q 0 0 0 rg BT 409.14 344.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 444.98 344.25 Td (of ) Tj ET Q q 0 0 0 rg BT 455.27 344.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 481.67 344.25 Td (of ) Tj ET Q q 0 0 0 rg BT 491.96 344.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 516.69 344.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 534.20 344.25 Td (Letter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.41 332.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 87.99 332.25 Td (Facility\), ) Tj ET Q q 0 0 0 rg BT 131.40 332.25 Td (with ) Tj ET Q q 0 0 0 rg BT 151.76 332.25 Td (a ) Tj ET Q q 0 0 0 rg BT 158.78 332.25 Td (maturity ) Tj ET Q q 0 0 0 rg BT 195.25 332.25 Td (date ) Tj ET Q q 0 0 0 rg BT 214.49 332.25 Td (of ) Tj ET Q q 0 0 0 rg BT 225.41 332.25 Td (September ) Tj ET Q q 0 0 0 rg BT 270.75 332.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 285.84 332.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 308.42 332.25 Td (which ) Tj ET Q q 0 0 0 rg BT 335.45 332.25 Td (allows ) Tj ET Q q 0 0 0 rg BT 364.14 332.25 Td (for ) Tj ET Q q 0 0 0 rg BT 378.38 332.25 Td (the ) Tj ET Q q 0 0 0 rg BT 393.18 332.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 429.65 332.25 Td (of ) Tj ET Q q 0 0 0 rg BT 440.56 332.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 467.58 332.25 Td (of ) Tj ET Q q 0 0 0 rg BT 478.49 332.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 503.84 332.25 Td (up ) Tj ET Q q 0 0 0 rg BT 516.43 332.25 Td (to ) Tj ET Q q 0 0 0 rg BT 526.79 332.25 Td (a ) Tj ET Q q 0 0 0 rg BT 533.81 332.25 Td (total ) Tj ET Q q 0 0 0 rg BT 554.17 332.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.25 Td ($1.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 320.25 Td (. ) Tj ET Q q 0 0 0 rg BT 104.16 320.25 Td ( ) Tj ET Q q 0 0 0 rg BT 106.71 320.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.98 320.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 156.58 320.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.58 320.25 Td ( ) Tj ET Q q 0 0 0 rg BT 179.85 320.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.55 320.25 Td (December ) Tj ET Q q 0 0 0 rg BT 241.91 320.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 257.67 320.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.67 320.25 Td (, ) Tj ET Q q 0 0 0 rg BT 283.44 320.25 Td (there ) Tj ET Q q 0 0 0 rg BT 306.70 320.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.52 320.25 Td ($0.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.41 320.25 Td ( ) Tj ET Q q 0 0 0 rg BT 377.68 320.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.39 320.25 Td ($0.6 ) Tj ET Q q 0 0 0 rg BT 416.16 320.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.05 320.25 Td (, ) Tj ET Q q 0 0 0 rg BT 450.82 320.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 498.48 320.25 Td (, ) Tj ET Q q 0 0 0 rg BT 504.25 320.25 Td (of ) Tj ET Q q 0 0 0 rg BT 515.85 320.25 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 77.19 308.25 Td (of ) Tj ET Q q 0 0 0 rg BT 88.77 308.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 114.78 308.25 Td (in ) Tj ET Q q 0 0 0 rg BT 125.81 308.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 167.93 308.25 Td (under ) Tj ET Q q 0 0 0 rg BT 193.95 308.25 Td (the ) Tj ET Q q 0 0 0 rg BT 209.42 308.25 Td (Letter ) Tj ET Q q 0 0 0 rg BT 236.54 308.25 Td (of ) Tj ET Q q 0 0 0 rg BT 248.12 308.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 276.37 308.25 Td (Facility) Tj ET Q q 0 0 0 rg BT 306.27 308.25 Td (, ) Tj ET Q q 0 0 0 rg BT 312.02 308.25 Td (which ) Tj ET Q q 0 0 0 rg BT 339.71 308.25 Td (were ) Tj ET Q q 0 0 0 rg BT 362.40 308.25 Td (collateralized ) Tj ET Q q 0 0 0 rg BT 419.50 308.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.53 308.25 Td ($0.2 ) Tj ET Q q 0 0 0 rg BT 461.28 308.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.17 308.25 Td ( ) Tj ET Q q 0 0 0 rg BT 493.43 308.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.12 308.25 Td ($0.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 308.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.16 296.25 Td (, ) Tj ET Q q 0 0 0 rg BT 101.63 296.25 Td (of ) Tj ET Q q 0 0 0 rg BT 111.93 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 126.11 296.25 Td (Company) Tj ET Q q 0 0 0 rg BT 167.78 296.25 Td (s ) Tj ET Q q 0 0 0 rg BT 173.64 296.25 Td (cash. ) Tj ET Q q 0 0 0 rg BT 195.87 296.25 Td ( ) Tj ET Q q 0 0 0 rg BT 197.84 296.25 Td (In ) Tj ET Q q 0 0 0 rg BT 208.14 296.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 253.98 296.25 Td (with ) Tj ET Q q 0 0 0 rg BT 273.72 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 287.91 296.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 333.76 296.25 Td (of ) Tj ET Q q 0 0 0 rg BT 344.06 296.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 380.46 296.25 Td (Homes ) Tj ET Q q 0 0 0 rg BT 410.75 296.25 Td (in ) Tj ET Q q 0 0 0 rg BT 420.50 296.25 Td (March ) Tj ET Q q 0 0 0 rg BT 448.57 296.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 473.04 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 487.22 296.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 528.07 296.25 Td (assumed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (the ) Tj ET Q q 0 0 0 rg BT 63.98 284.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 106.80 284.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.73 284.25 Td ($6.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.62 284.25 Td ( ) Tj ET Q q 0 0 0 rg BT 171.88 284.25 Td (of ) Tj ET Q q 0 0 0 rg BT 182.48 284.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 231.41 284.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 258.11 284.25 Td (of ) Tj ET Q q 0 0 0 rg BT 268.70 284.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 293.73 284.25 Td (under ) Tj ET Q q 0 0 0 rg BT 318.77 284.25 Td (a ) Tj ET Q q 0 0 0 rg BT 325.47 284.25 Td (separate ) Tj ET Q q 0 0 0 rg BT 360.49 284.25 Td (facility) Tj ET Q q 0 0 0 rg BT 388.16 284.25 Td (, ) Tj ET Q q 0 0 0 rg BT 392.93 284.25 Td (which ) Tj ET Q q 0 0 0 rg BT 419.63 284.25 Td (was ) Tj ET Q q 0 0 0 rg BT 437.45 284.25 Td (collateralized ) Tj ET Q q 0 0 0 rg BT 493.57 284.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.61 284.25 Td ($6.6million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.43 272.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 102.24 272.25 Td (cash. ) Tj ET Q q 0 0 0 rg BT 126.11 272.25 Td ( ) Tj ET Q q 0 0 0 rg BT 129.71 272.25 Td (During ) Tj ET Q q 0 0 0 rg BT 161.65 272.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.47 272.25 Td (second ) Tj ET Q q 0 0 0 rg BT 208.84 272.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 240.76 272.25 Td (of ) Tj ET Q q 0 0 0 rg BT 252.69 272.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.69 272.25 Td (, ) Tj ET Q q 0 0 0 rg BT 278.80 272.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.62 272.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 337.11 272.25 Td (terminated ) Tj ET Q q 0 0 0 rg BT 383.47 272.25 Td (this ) Tj ET Q q 0 0 0 rg BT 401.52 272.25 Td (separate ) Tj ET Q q 0 0 0 rg BT 437.88 272.25 Td (letter ) Tj ET Q q 0 0 0 rg BT 462.02 272.25 Td (of ) Tj ET Q q 0 0 0 rg BT 473.96 272.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 500.33 272.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 532.25 272.25 Td (and ) Tj ET Q q 0 0 0 rg BT 550.29 272.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 99.42 260.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 127.11 260.25 Td (of ) Tj ET Q q 0 0 0 rg BT 138.69 260.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 164.71 260.25 Td (under ) Tj ET Q q 0 0 0 rg BT 190.73 260.25 Td (the ) Tj ET Q q 0 0 0 rg BT 206.20 260.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 237.77 260.25 Td (were ) Tj ET Q q 0 0 0 rg BT 260.45 260.25 Td (transferred ) Tj ET Q q 0 0 0 rg BT 307.01 260.25 Td (to ) Tj ET Q q 0 0 0 rg BT 318.04 260.25 Td (the ) Tj ET Q q 0 0 0 rg BT 333.52 260.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 361.76 260.25 Td (Facility) Tj ET Q q 0 0 0 rg BT 391.67 260.25 Td (, ) Tj ET Q q 0 0 0 rg BT 397.42 260.25 Td (resulting ) Tj ET Q q 0 0 0 rg BT 435.67 260.25 Td (in ) Tj ET Q q 0 0 0 rg BT 446.70 260.25 Td (the ) Tj ET Q q 0 0 0 rg BT 462.17 260.25 Td (release ) Tj ET Q q 0 0 0 rg BT 493.18 260.25 Td (of ) Tj ET Q q 0 0 0 rg BT 504.76 260.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.25 Td ($6.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 248.25 Td ( ) Tj ET Q q 0 0 0 rg BT 100.89 248.25 Td (of ) Tj ET Q q 0 0 0 rg BT 111.72 248.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 151.42 248.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 171.69 248.25 Td (which ) Tj ET Q q 0 0 0 rg BT 198.63 248.25 Td (collateralized ) Tj ET Q q 0 0 0 rg BT 254.98 248.25 Td (the ) Tj ET Q q 0 0 0 rg BT 269.70 248.25 Td (separate ) Tj ET Q q 0 0 0 rg BT 304.95 248.25 Td (facility) Tj ET Q q 0 0 0 rg BT 332.63 248.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 226.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.33 226.25 Td (Payable ) Tj ET Q q 0 0 0 rg BT 110.59 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 123.09 226.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 166.16 226.25 Td (Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 204.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.97 204.25 Td (MIF ) Tj ET Q q 0 0 0 rg BT 88.67 204.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 130.26 204.25 Td (W) Tj ET Q q 0 0 0 rg BT 138.90 204.25 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 185.05 204.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 232.40 204.25 Td (is ) Tj ET Q q 0 0 0 rg BT 241.99 204.25 Td (used ) Tj ET Q q 0 0 0 rg BT 263.24 204.25 Td (to ) Tj ET Q q 0 0 0 rg BT 273.94 204.25 Td (finance ) Tj ET Q q 0 0 0 rg BT 306.28 204.25 Td (eligible ) Tj ET Q q 0 0 0 rg BT 339.20 204.25 Td (residential ) Tj ET Q q 0 0 0 rg BT 383.77 204.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 424.45 204.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 448.48 204.25 Td (originated ) Tj ET Q q 0 0 0 rg BT 491.95 204.25 Td (by ) Tj ET Q q 0 0 0 rg BT 504.87 204.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 522.79 204.25 Td (Financial. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 192.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.59 192.25 Td (MIF ) Tj ET Q q 0 0 0 rg BT 87.92 192.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 129.16 192.25 Td (W) Tj ET Q q 0 0 0 rg BT 137.80 192.25 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 183.66 192.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 230.63 192.25 Td (provides ) Tj ET Q q 0 0 0 rg BT 267.61 192.25 Td (for ) Tj ET Q q 0 0 0 rg BT 281.82 192.25 Td (a ) Tj ET Q q 0 0 0 rg BT 288.80 192.25 Td (maximum ) Tj ET Q q 0 0 0 rg BT 331.90 192.25 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 376.10 192.25 Td (availability ) Tj ET Q q 0 0 0 rg BT 423.63 192.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.51 192.25 Td ($125million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.90 192.25 Td (. ) Tj ET Q q 0 0 0 rg BT 490.95 192.25 Td ( ) Tj ET Q q 0 0 0 rg BT 493.49 192.25 Td (In ) Tj ET Q q 0 0 0 rg BT 504.37 192.25 Td (June ) Tj ET Q q 0 0 0 rg BT 525.24 192.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 550.29 192.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 180.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.38 180.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 123.79 180.25 Td (into ) Tj ET Q q 0 0 0 rg BT 142.34 180.25 Td (an ) Tj ET Q q 0 0 0 rg BT 154.77 180.25 Td (amendment ) Tj ET Q q 0 0 0 rg BT 204.42 180.25 Td (to ) Tj ET Q q 0 0 0 rg BT 215.19 180.25 Td (the ) Tj ET Q q 0 0 0 rg BT 230.40 180.25 Td (MIF ) Tj ET Q q 0 0 0 rg BT 251.17 180.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 292.82 180.25 Td (W) Tj ET Q q 0 0 0 rg BT 301.46 180.25 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 347.67 180.25 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 397.59 180.25 Td (which, ) Tj ET Q q 0 0 0 rg BT 427.52 180.25 Td (among ) Tj ET Q q 0 0 0 rg BT 457.73 180.25 Td (other ) Tj ET Q q 0 0 0 rg BT 481.27 180.25 Td (things, ) Tj ET Q q 0 0 0 rg BT 511.21 180.25 Td (extended ) Tj ET Q q 0 0 0 rg BT 550.29 180.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 168.25 Td (expiration ) Tj ET Q q 0 0 0 rg BT 92.66 168.25 Td (date ) Tj ET Q q 0 0 0 rg BT 111.94 168.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.34 168.25 Td (June ) Tj ET Q q 0 0 0 rg BT 143.29 168.25 Td (21, ) Tj ET Q q 0 0 0 rg BT 158.41 168.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.41 168.25 Td ( ) Tj ET Q q 0 0 0 rg BT 181.03 168.25 Td (and ) Tj ET Q q 0 0 0 rg BT 198.09 168.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 234.04 168.25 Td (the ) Tj ET Q q 0 0 0 rg BT 248.88 168.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 280.93 168.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 298.54 168.25 Td (to ) Tj ET Q q 0 0 0 rg BT 308.94 168.25 Td (a ) Tj ET Q q 0 0 0 rg BT 316.00 168.25 Td (per ) Tj ET Q q 0 0 0 rg BT 331.39 168.25 Td (annum ) Tj ET Q q 0 0 0 rg BT 361.22 168.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 378.83 168.25 Td (equal ) Tj ET Q q 0 0 0 rg BT 403.11 168.25 Td (to ) Tj ET Q q 0 0 0 rg BT 413.51 168.25 Td (the ) Tj ET Q q 0 0 0 rg BT 428.34 168.25 Td (greater ) Tj ET Q q 0 0 0 rg BT 458.72 168.25 Td (of ) Tj ET Q q 0 0 0 rg BT 469.67 168.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 483.95 168.25 Td (the ) Tj ET Q q 0 0 0 rg BT 498.79 168.25 Td (floating ) Tj ET Q q 0 0 0 rg BT 532.51 168.25 Td (LIBOR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 156.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 67.36 156.25 Td (plus ) Tj ET Q q 0 0 0 rg BT 86.91 156.25 Td (a ) Tj ET Q q 0 0 0 rg BT 94.23 156.25 Td (spread ) Tj ET Q q 0 0 0 rg BT 123.21 156.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.41 156.25 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.41 156.25 Td ( ) Tj ET Q q 0 0 0 rg BT 152.29 156.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 175.17 156.25 Td (points ) Tj ET Q q 0 0 0 rg BT 202.50 156.25 Td (and ) Tj ET Q q 0 0 0 rg BT 219.81 156.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.35 156.25 Td (2.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.18 156.25 Td (. ) Tj ET Q q 0 0 0 rg BT 265.56 156.25 Td ( ) Tj ET Q q 0 0 0 rg BT 268.23 156.25 Td (The ) Tj ET Q q 0 0 0 rg BT 286.66 156.25 Td (spread ) Tj ET Q q 0 0 0 rg BT 315.63 156.25 Td (over ) Tj ET Q q 0 0 0 rg BT 336.28 156.25 Td (floating ) Tj ET Q q 0 0 0 rg BT 370.26 156.25 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 403.14 156.25 Td (had ) Tj ET Q q 0 0 0 rg BT 420.46 156.25 Td (previously ) Tj ET Q q 0 0 0 rg BT 465.55 156.25 Td (been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.31 156.25 Td (237.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.81 156.25 Td ( ) Tj ET Q q 0 0 0 rg BT 512.69 156.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 535.57 156.25 Td (points. ) Tj ET Q q 0 0 0 rg BT 565.01 156.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 144.25 Td (The ) Tj ET Q q 0 0 0 rg BT 66.76 144.25 Td (amendment ) Tj ET Q q 0 0 0 rg BT 115.13 144.25 Td (also ) Tj ET Q q 0 0 0 rg BT 132.96 144.25 Td (allows ) Tj ET Q q 0 0 0 rg BT 160.79 144.25 Td (the ) Tj ET Q q 0 0 0 rg BT 174.72 144.25 Td (maximum ) Tj ET Q q 0 0 0 rg BT 216.99 144.25 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 260.37 144.25 Td (availability ) Tj ET Q q 0 0 0 rg BT 307.07 144.25 Td (to ) Tj ET Q q 0 0 0 rg BT 316.57 144.25 Td (be ) Tj ET Q q 0 0 0 rg BT 327.72 144.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 367.19 144.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.69 144.25 Td ($160 ) Tj ET Q q 0 0 0 rg BT 398.41 144.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.30 144.25 Td ( ) Tj ET Q q 0 0 0 rg BT 429.02 144.25 Td (during ) Tj ET Q q 0 0 0 rg BT 456.84 144.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 485.76 144.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 516.92 144.25 Td (of ) Tj ET Q q 0 0 0 rg BT 526.97 144.25 Td (expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 132.25 Td (increases ) Tj ET Q q 0 0 0 rg BT 88.40 132.25 Td (in ) Tj ET Q q 0 0 0 rg BT 98.44 132.25 Td (the ) Tj ET Q q 0 0 0 rg BT 112.92 132.25 Td (volume ) Tj ET Q q 0 0 0 rg BT 145.17 132.25 Td (of ) Tj ET Q q 0 0 0 rg BT 155.76 132.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 195.78 132.25 Td (originations, ) Tj ET Q q 0 0 0 rg BT 248.31 132.25 Td (specifically ) Tj ET Q q 0 0 0 rg BT 296.66 132.25 Td (from ) Tj ET Q q 0 0 0 rg BT 318.35 132.25 Td (September ) Tj ET Q q 0 0 0 rg BT 363.38 132.25 Td (25, ) Tj ET Q q 0 0 0 rg BT 378.14 132.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 400.39 132.25 Td (to ) Tj ET Q q 0 0 0 rg BT 410.43 132.25 Td (October ) Tj ET Q q 0 0 0 rg BT 444.90 132.25 Td (15, ) Tj ET Q q 0 0 0 rg BT 459.65 132.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 481.91 132.25 Td (and ) Tj ET Q q 0 0 0 rg BT 498.61 132.25 Td (from ) Tj ET Q q 0 0 0 rg BT 520.31 132.25 Td (November ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 120.25 Td (15, ) Tj ET Q q 0 0 0 rg BT 64.18 120.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 86.35 120.25 Td (to ) Tj ET Q q 0 0 0 rg BT 96.30 120.25 Td (February ) Tj ET Q q 0 0 0 rg BT 134.58 120.25 Td (4, ) Tj ET Q q 0 0 0 rg BT 144.25 120.25 Td (2019. ) Tj ET Q q 0 0 0 rg BT 168.93 120.25 Td ( ) Tj ET Q q 0 0 0 rg BT 170.95 120.25 Td (The ) Tj ET Q q 0 0 0 rg BT 188.67 120.25 Td (MIF ) Tj ET Q q 0 0 0 rg BT 208.63 120.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 249.52 120.25 Td (W) Tj ET Q q 0 0 0 rg BT 258.16 120.25 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 303.73 120.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 350.33 120.25 Td (also ) Tj ET Q q 0 0 0 rg BT 368.62 120.25 Td (contains ) Tj ET Q q 0 0 0 rg BT 404.12 120.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 433.49 120.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 470.65 120.25 Td (covenants. ) Tj ET Q q 0 0 0 rg BT 515.31 120.25 Td ( ) Tj ET Q q 0 0 0 rg BT 517.00 120.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.18 120.25 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 108.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 108.25 Td (, ) Tj ET Q q 0 0 0 rg BT 74.50 108.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 92.00 108.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 131.71 108.25 Td (was ) Tj ET Q q 0 0 0 rg BT 149.76 108.25 Td (in ) Tj ET Q q 0 0 0 rg BT 160.04 108.25 Td (compliance ) Tj ET Q q 0 0 0 rg BT 208.63 108.25 Td (with ) Tj ET Q q 0 0 0 rg BT 228.91 108.25 Td (all ) Tj ET Q q 0 0 0 rg BT 241.40 108.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 278.88 108.25 Td (covenants ) Tj ET Q q 0 0 0 rg BT 321.37 108.25 Td (of ) Tj ET Q q 0 0 0 rg BT 332.20 108.25 Td (the ) Tj ET Q q 0 0 0 rg BT 346.92 108.25 Td (MIF ) Tj ET Q q 0 0 0 rg BT 367.20 108.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 408.40 108.25 Td (W) Tj ET Q q 0 0 0 rg BT 417.03 108.25 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 462.86 108.25 Td (Agreement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 86.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.84 86.25 Td (MIF ) Tj ET Q q 0 0 0 rg BT 88.42 86.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 130.09 86.25 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 179.53 86.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 212.88 86.25 Td (is ) Tj ET Q q 0 0 0 rg BT 222.34 86.25 Td (used ) Tj ET Q q 0 0 0 rg BT 243.47 86.25 Td (to ) Tj ET Q q 0 0 0 rg BT 254.04 86.25 Td (finance ) Tj ET Q q 0 0 0 rg BT 286.26 86.25 Td (eligible ) Tj ET Q q 0 0 0 rg BT 319.04 86.25 Td (residential ) Tj ET Q q 0 0 0 rg BT 363.49 86.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 404.04 86.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 427.95 86.25 Td (originated ) Tj ET Q q 0 0 0 rg BT 471.28 86.25 Td (by ) Tj ET Q q 0 0 0 rg BT 484.08 86.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 501.87 86.25 Td (Financial. ) Tj ET Q q 0 0 0 rg BT 544.38 86.25 Td ( ) Tj ET Q q 0 0 0 rg BT 546.97 86.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 74.25 Td (MIF ) Tj ET Q q 0 0 0 rg BT 69.17 74.25 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 117.70 74.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 150.13 74.25 Td (provides ) Tj ET Q q 0 0 0 rg BT 186.45 74.25 Td (for ) Tj ET Q q 0 0 0 rg BT 200.00 74.25 Td (a ) Tj ET Q q 0 0 0 rg BT 206.32 74.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 245.97 74.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 291.16 74.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 321.36 74.25 Td (with ) Tj ET Q q 0 0 0 rg BT 341.02 74.25 Td (a ) Tj ET Q q 0 0 0 rg BT 347.35 74.25 Td (maximum ) Tj ET Q q 0 0 0 rg BT 389.78 74.25 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 433.33 74.25 Td (availability ) Tj ET Q q 0 0 0 rg BT 480.19 74.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.41 74.25 Td ($35 ) Tj ET Q q 0 0 0 rg BT 507.29 74.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.18 74.25 Td ( ) Tj ET Q q 0 0 0 rg BT 538.07 74.25 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 62.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 89.08 62.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.68 62.25 Td ($50million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.08 62.25 Td ( ) Tj ET Q q 0 0 0 rg BT 146.90 62.25 Td (from ) Tj ET Q q 0 0 0 rg BT 168.17 62.25 Td (November ) Tj ET Q q 0 0 0 rg BT 212.20 62.25 Td (15, ) Tj ET Q q 0 0 0 rg BT 226.53 62.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 248.35 62.25 Td (through ) Tj ET Q q 0 0 0 rg BT 281.29 62.25 Td (February ) Tj ET Q q 0 0 0 rg BT 319.21 62.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 328.54 62.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 350.36 62.25 Td (\(a ) Tj ET Q q 0 0 0 rg BT 359.96 62.25 Td (period ) Tj ET Q q 0 0 0 rg BT 387.33 62.25 Td (during ) Tj ET Q q 0 0 0 rg BT 415.27 62.25 Td (which ) Tj ET Q q 0 0 0 rg BT 441.53 62.25 Td (we ) Tj ET Q q 0 0 0 rg BT 455.02 62.25 Td (typically ) Tj ET Q q 0 0 0 rg BT 491.83 62.25 Td (experience ) Tj ET Q q 0 0 0 rg BT 536.96 62.25 Td (higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 50.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 89.62 50.25 Td (origination ) Tj ET Q q 0 0 0 rg BT 135.86 50.25 Td (volume\). ) Tj ET Q q 0 0 0 rg BT 174.05 50.25 Td ( ) Tj ET Q q 0 0 0 rg BT 176.23 50.25 Td (The ) Tj ET Q q 0 0 0 rg BT 194.14 50.25 Td (MIF ) Tj ET Q q 0 0 0 rg BT 214.28 50.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 255.52 50.25 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 304.52 50.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 337.43 50.25 Td (expires ) Tj ET Q q 0 0 0 rg BT 368.67 50.25 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.02 50.25 Td (October29, ) Tj ET Q q 0 0 0 rg BT 430.59 50.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.59 50.25 Td (. ) Tj ET Q q 0 0 0 rg BT 455.45 50.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 472.81 50.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 512.38 50.25 Td (pays ) Tj ET Q q 0 0 0 rg BT 533.06 50.25 Td (interest ) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.17 740.10 Td (each ) Tj ET Q q 0 0 0 rg BT 83.16 740.10 Td (advance ) Tj ET Q q 0 0 0 rg BT 118.58 740.10 Td (under ) Tj ET Q q 0 0 0 rg BT 144.02 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 158.90 740.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 179.36 740.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 220.90 740.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 270.22 740.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 303.44 740.10 Td (at ) Tj ET Q q 0 0 0 rg BT 313.33 740.10 Td (a ) Tj ET Q q 0 0 0 rg BT 320.44 740.10 Td (per ) Tj ET Q q 0 0 0 rg BT 335.88 740.10 Td (annum ) Tj ET Q q 0 0 0 rg BT 365.76 740.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 383.42 740.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 407.74 740.10 Td (to ) Tj ET Q q 0 0 0 rg BT 418.19 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 433.08 740.10 Td (floating ) Tj ET Q q 0 0 0 rg BT 466.85 740.10 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 499.52 740.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 517.18 740.10 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.52 740.10 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.52 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.19 740.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 67.25 728.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 89.99 728.10 Td (points ) Tj ET Q q 0 0 0 rg BT 117.19 728.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 161.59 728.10 Td (on ) Tj ET Q q 0 0 0 rg BT 174.34 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.30 728.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 209.26 728.10 Td (type. ) Tj ET Q q 0 0 0 rg BT 231.73 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 234.27 728.10 Td (The ) Tj ET Q q 0 0 0 rg BT 252.57 728.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 273.10 728.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 314.72 728.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 364.11 728.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 397.41 728.10 Td (also ) Tj ET Q q 0 0 0 rg BT 416.27 728.10 Td (contains ) Tj ET Q q 0 0 0 rg BT 452.34 728.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 482.29 728.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 520.01 728.10 Td (covenants. ) Tj ET Q q 0 0 0 rg BT 565.00 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 716.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 97.83 716.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.83 716.10 Td (, ) Tj ET Q q 0 0 0 rg BT 122.83 716.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 140.33 716.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 180.04 716.10 Td (was ) Tj ET Q q 0 0 0 rg BT 198.09 716.10 Td (in ) Tj ET Q q 0 0 0 rg BT 208.37 716.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 256.96 716.10 Td (with ) Tj ET Q q 0 0 0 rg BT 277.24 716.10 Td (all ) Tj ET Q q 0 0 0 rg BT 289.73 716.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 327.21 716.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 369.70 716.10 Td (of ) Tj ET Q q 0 0 0 rg BT 380.53 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 395.25 716.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 415.53 716.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 456.91 716.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 506.05 716.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 535.96 716.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.04 694.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 97.90 694.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.90 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 120.44 694.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.42 694.10 Td (December ) Tj ET Q q 0 0 0 rg BT 181.04 694.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 196.07 694.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.07 694.10 Td (, ) Tj ET Q q 0 0 0 rg BT 221.11 694.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 238.65 694.10 Td (Financial) Tj ET Q q 0 0 0 rg BT 278.64 694.10 Td (s ) Tj ET Q q 0 0 0 rg BT 285.06 694.10 Td (total ) Tj ET Q q 0 0 0 rg BT 305.37 694.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 347.34 694.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 390.43 694.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 434.63 694.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 482.15 694.10 Td (under ) Tj ET Q q 0 0 0 rg BT 507.46 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 522.21 694.10 Td (two ) Tj ET Q q 0 0 0 rg BT 539.75 694.10 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.10 Td (facilities ) Tj ET Q q 0 0 0 rg BT 87.58 682.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.79 682.10 Td ($160.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.68 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 169.33 682.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.42 682.10 Td ($200.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.31 682.10 Td (, ) Tj ET Q q 0 0 0 rg BT 252.46 682.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 300.13 682.10 Td (. ) Tj ET Q q 0 0 0 rg BT 306.28 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 309.12 682.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.78 682.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 359.76 682.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.76 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 383.41 682.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.50 682.10 Td (December ) Tj ET Q q 0 0 0 rg BT 446.24 682.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 462.39 682.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.39 682.10 Td (, ) Tj ET Q q 0 0 0 rg BT 488.54 682.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 507.19 682.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 548.06 682.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td ($93.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 105.89 670.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.83 670.10 Td ($168.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.72 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 184.22 670.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 233.39 670.10 Td (on ) Tj ET Q q 0 0 0 rg BT 245.89 670.10 Td (a ) Tj ET Q q 0 0 0 rg BT 252.83 670.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 294.76 670.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 317.26 670.10 Td (under ) Tj ET Q q 0 0 0 rg BT 342.53 670.10 Td (its ) Tj ET Q q 0 0 0 rg BT 354.48 670.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 379.74 670.10 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 419.17 670.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 466.83 670.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 648.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 79.23 648.10 Td (Notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.56 648.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 626.10 Td (As ) Tj ET Q q 0 0 0 rg BT 62.78 626.10 Td (of ) Tj ET Q q 0 0 0 rg BT 73.28 626.10 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.22 626.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 128.72 626.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.72 626.10 Td ( ) Tj ET Q q 0 0 0 rg BT 150.89 626.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.49 626.10 Td (December ) Tj ET Q q 0 0 0 rg BT 210.74 626.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 225.41 626.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.41 626.10 Td (, ) Tj ET Q q 0 0 0 rg BT 250.08 626.10 Td (we ) Tj ET Q q 0 0 0 rg BT 263.90 626.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.51 626.10 Td ($250.0 ) Tj ET Q q 0 0 0 rg BT 310.18 626.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.07 626.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.24 626.10 Td (of ) Tj ET Q q 0 0 0 rg BT 351.73 626.10 Td (our ) Tj ET Q q 0 0 0 rg BT 367.23 626.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 389.40 626.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 417.67 626.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 443.17 626.10 Td (outstanding. ) Tj ET Q q 0 0 0 rg BT 494.50 626.10 Td ( ) Tj ET Q q 0 0 0 rg BT 496.51 626.10 Td (The ) Tj ET Q q 0 0 0 rg BT 514.23 626.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 536.39 626.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 614.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 76.62 614.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 97.61 614.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 130.83 614.10 Td (at ) Tj ET Q q 0 0 0 rg BT 141.84 614.10 Td (a ) Tj ET Q q 0 0 0 rg BT 150.06 614.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 168.83 614.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.95 614.10 Td (5.625%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.78 614.10 Td ( ) Tj ET Q q 0 0 0 rg BT 215.57 614.10 Td (per ) Tj ET Q q 0 0 0 rg BT 232.12 614.10 Td (year) Tj ET Q q 0 0 0 rg BT 248.93 614.10 Td (, ) Tj ET Q q 0 0 0 rg BT 255.22 614.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 290.10 614.10 Td (semiannually ) Tj ET Q q 0 0 0 rg BT 347.21 614.10 Td (in ) Tj ET Q q 0 0 0 rg BT 358.77 614.10 Td (arrears ) Tj ET Q q 0 0 0 rg BT 389.76 614.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.54 614.10 Td (February ) Tj ET Q q 0 0 0 rg BT 443.43 614.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.43 614.10 Td ( ) Tj ET Q q 0 0 0 rg BT 452.22 614.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.61 614.10 Td (August ) Tj ET Q q 0 0 0 rg BT 502.28 614.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.28 614.10 Td ( ) Tj ET Q q 0 0 0 rg BT 511.07 614.10 Td (of ) Tj ET Q q 0 0 0 rg BT 523.19 614.10 Td (each ) Tj ET Q q 0 0 0 rg BT 545.29 614.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 602.10 Td (\(commencing ) Tj ET Q q 0 0 0 rg BT 106.95 602.10 Td (on ) Tj ET Q q 0 0 0 rg BT 119.43 602.10 Td (February ) Tj ET Q q 0 0 0 rg BT 158.00 602.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 167.97 602.10 Td (2018\), ) Tj ET Q q 0 0 0 rg BT 196.27 602.10 Td (and ) Tj ET Q q 0 0 0 rg BT 213.19 602.10 Td (mature ) Tj ET Q q 0 0 0 rg BT 243.42 602.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.35 602.10 Td (August ) Tj ET Q q 0 0 0 rg BT 286.72 602.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 296.69 602.10 Td (2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.69 602.10 Td (. ) Tj ET Q q 0 0 0 rg BT 321.66 602.10 Td ( ) Tj ET Q q 0 0 0 rg BT 323.96 602.10 Td (W) Tj ET Q q 0 0 0 rg BT 332.59 602.10 Td (e ) Tj ET Q q 0 0 0 rg BT 339.51 602.10 Td (may ) Tj ET Q q 0 0 0 rg BT 359.20 602.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 391.09 602.10 Td (all ) Tj ET Q q 0 0 0 rg BT 403.56 602.10 Td (or ) Tj ET Q q 0 0 0 rg BT 414.36 602.10 Td (any ) Tj ET Q q 0 0 0 rg BT 431.28 602.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 462.64 602.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.44 602.10 Td (the ) Tj ET Q q 0 0 0 rg BT 488.13 602.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 510.60 602.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 539.18 602.10 Td (Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 590.10 Td (on ) Tj ET Q q 0 0 0 rg BT 61.95 590.10 Td (or ) Tj ET Q q 0 0 0 rg BT 72.73 590.10 Td (after ) Tj ET Q q 0 0 0 rg BT 92.95 590.10 Td (August ) Tj ET Q q 0 0 0 rg BT 124.29 590.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 134.24 590.10 Td (2020 ) Tj ET Q q 0 0 0 rg BT 156.68 590.10 Td (at ) Tj ET Q q 0 0 0 rg BT 166.35 590.10 Td (a ) Tj ET Q q 0 0 0 rg BT 173.23 590.10 Td (stated ) Tj ET Q q 0 0 0 rg BT 199.01 590.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 247.00 590.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 271.93 590.10 Td (together ) Tj ET Q q 0 0 0 rg BT 307.14 590.10 Td (with ) Tj ET Q q 0 0 0 rg BT 327.37 590.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 360.90 590.10 Td (and ) Tj ET Q q 0 0 0 rg BT 377.79 590.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 407.45 590.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 439.33 590.10 Td (thereon. ) Tj ET Q q 0 0 0 rg BT 474.26 590.10 Td ( ) Tj ET Q q 0 0 0 rg BT 476.53 590.10 Td (The ) Tj ET Q q 0 0 0 rg BT 494.53 590.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 542.52 590.10 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 578.10 Td (will ) Tj ET Q q 0 0 0 rg BT 67.40 578.10 Td (initially ) Tj ET Q q 0 0 0 rg BT 100.86 578.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.65 578.10 Td (104.219%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.48 578.10 Td ( ) Tj ET Q q 0 0 0 rg BT 155.82 578.10 Td (of ) Tj ET Q q 0 0 0 rg BT 166.50 578.10 Td (the ) Tj ET Q q 0 0 0 rg BT 181.07 578.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 218.96 578.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 251.30 578.10 Td (outstanding, ) Tj ET Q q 0 0 0 rg BT 302.81 578.10 Td (but ) Tj ET Q q 0 0 0 rg BT 317.94 578.10 Td (will ) Tj ET Q q 0 0 0 rg BT 335.84 578.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 367.06 578.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.19 578.10 Td (102.813%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.02 578.10 Td ( ) Tj ET Q q 0 0 0 rg BT 420.37 578.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.04 578.10 Td (the ) Tj ET Q q 0 0 0 rg BT 445.61 578.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 483.50 578.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 515.84 578.10 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 566.10 Td (if ) Tj ET Q q 0 0 0 rg BT 58.27 566.10 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 99.80 566.10 Td (during ) Tj ET Q q 0 0 0 rg BT 128.58 566.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.46 566.10 Td (12-month ) Tj ET Q q 0 0 0 rg BT 185.01 566.10 Td (period ) Tj ET Q q 0 0 0 rg BT 213.23 566.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 255.89 566.10 Td (on ) Tj ET Q q 0 0 0 rg BT 267.96 566.10 Td (August ) Tj ET Q q 0 0 0 rg BT 299.52 566.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 309.69 566.10 Td (2021, ) Tj ET Q q 0 0 0 rg BT 334.85 566.10 Td (will ) Tj ET Q q 0 0 0 rg BT 353.08 566.10 Td (further ) Tj ET Q q 0 0 0 rg BT 382.95 566.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 414.49 566.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.93 566.10 Td (101.406%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.76 566.10 Td ( ) Tj ET Q q 0 0 0 rg BT 468.43 566.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.42 566.10 Td (the ) Tj ET Q q 0 0 0 rg BT 494.31 566.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 532.52 566.10 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 554.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 99.20 554.10 Td (if ) Tj ET Q q 0 0 0 rg BT 108.34 554.10 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 150.24 554.10 Td (during ) Tj ET Q q 0 0 0 rg BT 179.38 554.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.63 554.10 Td (12-month ) Tj ET Q q 0 0 0 rg BT 236.56 554.10 Td (period ) Tj ET Q q 0 0 0 rg BT 265.14 554.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 308.17 554.10 Td (on ) Tj ET Q q 0 0 0 rg BT 320.53 554.10 Td (August ) Tj ET Q q 0 0 0 rg BT 352.46 554.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 362.99 554.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 386.03 554.10 Td (and ) Tj ET Q q 0 0 0 rg BT 403.50 554.10 Td (will ) Tj ET Q q 0 0 0 rg BT 422.09 554.10 Td (further ) Tj ET Q q 0 0 0 rg BT 452.33 554.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 484.24 554.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.05 554.10 Td (100.000%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.88 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 538.92 554.10 Td (of ) Tj ET Q q 0 0 0 rg BT 550.28 554.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 542.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 87.54 542.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 120.04 542.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 169.20 542.10 Td (if ) Tj ET Q q 0 0 0 rg BT 177.81 542.10 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 219.17 542.10 Td (on ) Tj ET Q q 0 0 0 rg BT 231.67 542.10 Td (or ) Tj ET Q q 0 0 0 rg BT 242.50 542.10 Td (after ) Tj ET Q q 0 0 0 rg BT 262.77 542.10 Td (August ) Tj ET Q q 0 0 0 rg BT 294.16 542.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 304.16 542.10 Td (2023, ) Tj ET Q q 0 0 0 rg BT 329.16 542.10 Td (but ) Tj ET Q q 0 0 0 rg BT 344.44 542.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 366.38 542.10 Td (to ) Tj ET Q q 0 0 0 rg BT 376.65 542.10 Td (maturity) Tj ET Q q 0 0 0 rg BT 409.89 542.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.10 Td (As ) Tj ET Q q 0 0 0 rg BT 62.76 520.10 Td (of ) Tj ET Q q 0 0 0 rg BT 73.25 520.10 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.17 520.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 128.66 520.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.66 520.10 Td ( ) Tj ET Q q 0 0 0 rg BT 150.81 520.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.40 520.10 Td (December ) Tj ET Q q 0 0 0 rg BT 210.63 520.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 225.28 520.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.28 520.10 Td (, ) Tj ET Q q 0 0 0 rg BT 249.93 520.10 Td (we ) Tj ET Q q 0 0 0 rg BT 263.74 520.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.33 520.10 Td ($300.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.22 520.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.38 520.10 Td (of ) Tj ET Q q 0 0 0 rg BT 351.86 520.10 Td (our ) Tj ET Q q 0 0 0 rg BT 367.34 520.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 389.49 520.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 417.75 520.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 443.23 520.10 Td (outstanding. ) Tj ET Q q 0 0 0 rg BT 494.54 520.10 Td ( ) Tj ET Q q 0 0 0 rg BT 496.54 520.10 Td (The ) Tj ET Q q 0 0 0 rg BT 514.24 520.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 536.39 520.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 74.93 508.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 94.24 508.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 125.77 508.10 Td (at ) Tj ET Q q 0 0 0 rg BT 135.09 508.10 Td (a ) Tj ET Q q 0 0 0 rg BT 141.63 508.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 158.72 508.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.15 508.10 Td (6.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.98 508.10 Td ( ) Tj ET Q q 0 0 0 rg BT 197.08 508.10 Td (per ) Tj ET Q q 0 0 0 rg BT 211.95 508.10 Td (year) Tj ET Q q 0 0 0 rg BT 228.76 508.10 Td (, ) Tj ET Q q 0 0 0 rg BT 233.36 508.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 266.55 508.10 Td (semiannually ) Tj ET Q q 0 0 0 rg BT 321.97 508.10 Td (in ) Tj ET Q q 0 0 0 rg BT 331.85 508.10 Td (arrears ) Tj ET Q q 0 0 0 rg BT 361.15 508.10 Td (on ) Tj ET Q q 0 0 0 rg BT 373.25 508.10 Td (January ) Tj ET Q q 0 0 0 rg BT 406.45 508.10 Td (15 ) Tj ET Q q 0 0 0 rg BT 418.55 508.10 Td (and ) Tj ET Q q 0 0 0 rg BT 435.09 508.10 Td (July ) Tj ET Q q 0 0 0 rg BT 453.86 508.10 Td (15 ) Tj ET Q q 0 0 0 rg BT 465.96 508.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.40 508.10 Td (each ) Tj ET Q q 0 0 0 rg BT 496.81 508.10 Td (year) Tj ET Q q 0 0 0 rg BT 513.62 508.10 Td (, ) Tj ET Q q 0 0 0 rg BT 518.22 508.10 Td (and ) Tj ET Q q 0 0 0 rg BT 534.76 508.10 Td (mature ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.44 496.10 Td (January ) Tj ET Q q 0 0 0 rg BT 96.48 496.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 111.92 496.10 Td (2021. ) Tj ET Q q 0 0 0 rg BT 137.36 496.10 Td ( ) Tj ET Q q 0 0 0 rg BT 139.65 496.10 Td (As ) Tj ET Q q 0 0 0 rg BT 153.70 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.97 496.10 Td (January ) Tj ET Q q 0 0 0 rg BT 199.01 496.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 214.45 496.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 239.89 496.10 Td (we ) Tj ET Q q 0 0 0 rg BT 254.49 496.10 Td (may ) Tj ET Q q 0 0 0 rg BT 274.64 496.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 307.01 496.10 Td (all ) Tj ET Q q 0 0 0 rg BT 319.94 496.10 Td (or ) Tj ET Q q 0 0 0 rg BT 331.21 496.10 Td (any ) Tj ET Q q 0 0 0 rg BT 348.59 496.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 380.41 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 391.68 496.10 Td (the ) Tj ET Q q 0 0 0 rg BT 406.84 496.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 429.78 496.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 458.83 496.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 485.10 496.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.25 496.10 Td (103.375%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.08 496.10 Td ( ) Tj ET Q q 0 0 0 rg BT 539.02 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 550.29 496.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 484.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 89.07 484.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 123.08 484.10 Td (outstanding. ) Tj ET Q q 0 0 0 rg BT 176.27 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.01 484.10 Td (This ) Tj ET Q q 0 0 0 rg BT 201.81 484.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 220.82 484.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 257.61 484.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.41 484.10 Td (101.688%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.24 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 314.26 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.62 484.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.86 484.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 382.42 484.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 416.44 484.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 467.13 484.10 Td (if ) Tj ET Q q 0 0 0 rg BT 477.26 484.10 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 520.15 484.10 Td (during ) Tj ET Q q 0 0 0 rg BT 550.28 484.10 Td (the ) Tj ET Q q 0 0 0 rg BT 565.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 567.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 570.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 572.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 575.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 577.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 580.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 582.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 585.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 587.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 590.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 592.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 595.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 597.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 600.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 602.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 605.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 607.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 610.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 612.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 615.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 617.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 620.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 622.50 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 625.00 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 627.50 484.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 472.10 Td (12-month ) Tj ET Q q 0 0 0 rg BT 91.66 472.10 Td (period ) Tj ET Q q 0 0 0 rg BT 120.48 472.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 163.75 472.10 Td (on ) Tj ET Q q 0 0 0 rg BT 177.02 472.10 Td (January ) Tj ET Q q 0 0 0 rg BT 211.40 472.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 227.17 472.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 252.94 472.10 Td (and ) Tj ET Q q 0 0 0 rg BT 270.66 472.10 Td (will ) Tj ET Q q 0 0 0 rg BT 289.49 472.10 Td (further ) Tj ET Q q 0 0 0 rg BT 319.97 472.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 352.11 472.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.17 472.10 Td (100.000%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 407.27 472.10 Td (of ) Tj ET Q q 0 0 0 rg BT 418.88 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 434.37 472.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 473.18 472.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 506.45 472.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 556.39 472.10 Td (if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 460.10 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 90.86 460.10 Td (on ) Tj ET Q q 0 0 0 rg BT 103.36 460.10 Td (or ) Tj ET Q q 0 0 0 rg BT 114.19 460.10 Td (after ) Tj ET Q q 0 0 0 rg BT 135.01 460.10 Td (January ) Tj ET Q q 0 0 0 rg BT 168.61 460.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 183.61 460.10 Td (2020, ) Tj ET Q q 0 0 0 rg BT 208.61 460.10 Td (but ) Tj ET Q q 0 0 0 rg BT 223.88 460.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 245.82 460.10 Td (to ) Tj ET Q q 0 0 0 rg BT 256.10 460.10 Td (maturity) Tj ET Q q 0 0 0 rg BT 289.33 460.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.27 438.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 89.50 438.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 117.84 438.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 143.40 438.10 Td (and ) Tj ET Q q 0 0 0 rg BT 160.06 438.10 Td (the ) Tj ET Q q 0 0 0 rg BT 174.51 438.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 196.74 438.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 225.07 438.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 250.63 438.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 282.29 438.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 311.72 438.10 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 356.44 438.10 Td (as ) Tj ET Q q 0 0 0 rg BT 366.99 438.10 Td (more ) Tj ET Q q 0 0 0 rg BT 389.77 438.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 410.88 438.10 Td (described ) Tj ET Q q 0 0 0 rg BT 451.43 438.10 Td (and ) Tj ET Q q 0 0 0 rg BT 468.09 438.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 500.31 438.10 Td (in ) Tj ET Q q 0 0 0 rg BT 510.31 438.10 Td (the ) Tj ET Q q 0 0 0 rg BT 524.76 438.10 Td (indenture ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 92.38 426.10 Td (the ) Tj ET Q q 0 0 0 rg BT 106.93 426.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 129.27 426.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 157.71 426.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 183.38 426.10 Td (and ) Tj ET Q q 0 0 0 rg BT 200.15 426.10 Td (the ) Tj ET Q q 0 0 0 rg BT 214.71 426.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 254.80 426.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 297.69 426.10 Td (the ) Tj ET Q q 0 0 0 rg BT 312.24 426.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 334.57 426.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 363.02 426.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 391.18 426.10 Td (which ) Tj ET Q q 0 0 0 rg BT 417.96 426.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 439.19 426.10 Td (the ) Tj ET Q q 0 0 0 rg BT 453.74 426.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 481.62 426.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.29 426.10 Td (the ) Tj ET Q q 0 0 0 rg BT 506.84 426.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 548.06 426.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.31 414.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 104.11 414.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 153.93 414.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 166.80 414.10 Td (among ) Tj ET Q q 0 0 0 rg BT 196.62 414.10 Td (other ) Tj ET Q q 0 0 0 rg BT 219.76 414.10 Td (things: ) Tj ET Q q 0 0 0 rg BT 249.59 414.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 272.73 414.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 315.32 414.10 Td (indebtedness; ) Tj ET Q q 0 0 0 rg BT 372.35 414.10 Td (make ) Tj ET Q q 0 0 0 rg BT 396.60 414.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 426.40 414.10 Td (payments, ) Tj ET Q q 0 0 0 rg BT 469.83 414.10 Td (including ) Tj ET Q q 0 0 0 rg BT 510.20 414.10 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 554.18 414.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 95.14 402.10 Td (any ) Tj ET Q q 0 0 0 rg BT 111.92 402.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 141.75 402.10 Td (in ) Tj ET Q q 0 0 0 rg BT 151.86 402.10 Td (an ) Tj ET Q q 0 0 0 rg BT 163.64 402.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 204.84 402.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 237.17 402.10 Td (exceeding ) Tj ET Q q 0 0 0 rg BT 280.04 402.10 Td (our ) Tj ET Q q 0 0 0 rg BT 295.71 402.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 339.69 402.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 380.35 402.10 Td (basket; ) Tj ET Q q 0 0 0 rg BT 415.46 402.10 Td (make ) Tj ET Q q 0 0 0 rg BT 439.45 402.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 468.99 402.10 Td (investments; ) Tj ET Q q 0 0 0 rg BT 521.88 402.10 Td (and ) Tj ET Q q 0 0 0 rg BT 538.65 402.10 Td (create ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.46 390.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 83.63 390.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 113.46 390.10 Td (liens, ) Tj ET Q q 0 0 0 rg BT 137.47 390.10 Td (consolidate ) Tj ET Q q 0 0 0 rg BT 185.64 390.10 Td (or ) Tj ET Q q 0 0 0 rg BT 196.60 390.10 Td (mer) Tj ET Q q 0 0 0 rg BT 211.97 390.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 224.03 390.10 Td (with ) Tj ET Q q 0 0 0 rg BT 244.44 390.10 Td (or ) Tj ET Q q 0 0 0 rg BT 255.39 390.10 Td (into ) Tj ET Q q 0 0 0 rg BT 273.58 390.10 Td (other ) Tj ET Q q 0 0 0 rg BT 296.75 390.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 344.64 390.10 Td (or ) Tj ET Q q 0 0 0 rg BT 355.60 390.10 Td (liquidate ) Tj ET Q q 0 0 0 rg BT 393.22 390.10 Td (or ) Tj ET Q q 0 0 0 rg BT 404.17 390.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 420.69 390.10 Td (or ) Tj ET Q q 0 0 0 rg BT 431.64 390.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 464.81 390.10 Td (all ) Tj ET Q q 0 0 0 rg BT 477.43 390.10 Td (or ) Tj ET Q q 0 0 0 rg BT 488.39 390.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 541.57 390.10 Td (all ) Tj ET Q q 0 0 0 rg BT 554.19 390.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.32 378.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 93.63 378.10 Td ( ) Tj ET Q q 0 0 0 rg BT 95.94 378.10 Td (These ) Tj ET Q q 0 0 0 rg BT 122.30 378.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 164.78 378.10 Td (are ) Tj ET Q q 0 0 0 rg BT 179.47 378.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 210.28 378.10 Td (to ) Tj ET Q q 0 0 0 rg BT 220.55 378.10 Td (a ) Tj ET Q q 0 0 0 rg BT 227.47 378.10 Td (number ) Tj ET Q q 0 0 0 rg BT 260.51 378.10 Td (of ) Tj ET Q q 0 0 0 rg BT 271.32 378.10 Td (exceptions ) Tj ET Q q 0 0 0 rg BT 316.57 378.10 Td (and ) Tj ET Q q 0 0 0 rg BT 333.50 378.10 Td (qualifications ) Tj ET Q q 0 0 0 rg BT 390.41 378.10 Td (as ) Tj ET Q q 0 0 0 rg BT 401.23 378.10 Td (described ) Tj ET Q q 0 0 0 rg BT 442.03 378.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.30 378.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.00 378.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 507.25 378.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 550.29 378.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 72.47 366.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 101.54 366.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 127.83 366.10 Td (and ) Tj ET Q q 0 0 0 rg BT 145.24 366.10 Td (the ) Tj ET Q q 0 0 0 rg BT 160.42 366.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 201.15 366.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 244.66 366.10 Td (the ) Tj ET Q q 0 0 0 rg BT 259.84 366.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 282.81 366.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 311.88 366.10 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 340.68 366.10 Td ( ) Tj ET Q q 0 0 0 rg BT 342.99 366.10 Td (As ) Tj ET Q q 0 0 0 rg BT 357.07 366.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.36 366.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 404.66 366.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.66 366.10 Td (, ) Tj ET Q q 0 0 0 rg BT 430.12 366.10 Td (the ) Tj ET Q q 0 0 0 rg BT 445.31 366.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 487.16 366.10 Td (was ) Tj ET Q q 0 0 0 rg BT 505.67 366.10 Td (in ) Tj ET Q q 0 0 0 rg BT 516.42 366.10 Td (compliance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.10 Td (with ) Tj ET Q q 0 0 0 rg BT 69.78 354.10 Td (all ) Tj ET Q q 0 0 0 rg BT 82.27 354.10 Td (terms, ) Tj ET Q q 0 0 0 rg BT 109.49 354.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 156.16 354.10 Td (and ) Tj ET Q q 0 0 0 rg BT 173.09 354.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 215.58 354.10 Td (under ) Tj ET Q q 0 0 0 rg BT 240.85 354.10 Td (the ) Tj ET Q q 0 0 0 rg BT 255.56 354.10 Td (indentures. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.43 332.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 91.81 332.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 121.30 332.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 148.01 332.10 Td (and ) Tj ET Q q 0 0 0 rg BT 165.83 332.10 Td (the ) Tj ET Q q 0 0 0 rg BT 181.43 332.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 204.81 332.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 234.30 332.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 261.01 332.10 Td (are ) Tj ET Q q 0 0 0 rg BT 276.60 332.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 298.87 332.10 Td (and ) Tj ET Q q 0 0 0 rg BT 316.69 332.10 Td (unconditionally ) Tj ET Q q 0 0 0 rg BT 382.84 332.10 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 430.08 332.10 Td (jointly ) Tj ET Q q 0 0 0 rg BT 459.58 332.10 Td (and ) Tj ET Q q 0 0 0 rg BT 477.40 332.10 Td (severally ) Tj ET Q q 0 0 0 rg BT 516.87 332.10 Td (on ) Tj ET Q q 0 0 0 rg BT 530.25 332.10 Td (a ) Tj ET Q q 0 0 0 rg BT 538.07 332.10 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 92.58 320.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 115.13 320.10 Td (by ) Tj ET Q q 0 0 0 rg BT 127.67 320.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.43 320.10 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 185.51 320.10 Td (Subsidiaries. ) Tj ET Q q 0 0 0 rg BT 239.44 320.10 Td ( ) Tj ET Q q 0 0 0 rg BT 241.80 320.10 Td (The ) Tj ET Q q 0 0 0 rg BT 259.89 320.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 282.44 320.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 311.09 320.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 336.96 320.10 Td (and ) Tj ET Q q 0 0 0 rg BT 353.94 320.10 Td (the ) Tj ET Q q 0 0 0 rg BT 368.71 320.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 391.25 320.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 419.90 320.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 445.78 320.10 Td (are ) Tj ET Q q 0 0 0 rg BT 460.53 320.10 Td (general, ) Tj ET Q q 0 0 0 rg BT 494.99 320.10 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 538.08 320.10 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 96.63 308.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.64 308.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.54 308.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 164.12 308.10 Td (and ) Tj ET Q q 0 0 0 rg BT 181.24 308.10 Td (the ) Tj ET Q q 0 0 0 rg BT 196.14 308.10 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 239.36 308.10 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 290.93 308.10 Td (and ) Tj ET Q q 0 0 0 rg BT 308.06 308.10 Td (rank ) Tj ET Q q 0 0 0 rg BT 328.51 308.10 Td (equally ) Tj ET Q q 0 0 0 rg BT 360.63 308.10 Td (in ) Tj ET Q q 0 0 0 rg BT 371.09 308.10 Td (right ) Tj ET Q q 0 0 0 rg BT 392.66 308.10 Td (of ) Tj ET Q q 0 0 0 rg BT 403.68 308.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 440.79 308.10 Td (with ) Tj ET Q q 0 0 0 rg BT 461.26 308.10 Td (all ) Tj ET Q q 0 0 0 rg BT 473.94 308.10 Td (our ) Tj ET Q q 0 0 0 rg BT 489.95 308.10 Td (and ) Tj ET Q q 0 0 0 rg BT 507.07 308.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.98 308.10 Td (Guarantor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (Subsidiaries) Tj ET Q q 0 0 0 rg BT 100.97 296.10 Td ( ) Tj ET Q q 0 0 0 rg BT 102.99 296.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 136.67 296.10 Td (and ) Tj ET Q q 0 0 0 rg BT 153.12 296.10 Td (future ) Tj ET Q q 0 0 0 rg BT 179.01 296.10 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 221.56 296.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 248.01 296.10 Td (indebtedness. ) Tj ET Q q 0 0 0 rg BT 306.53 296.10 Td (The ) Tj ET Q q 0 0 0 rg BT 324.09 296.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 346.11 296.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 374.23 296.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 399.57 296.10 Td (and ) Tj ET Q q 0 0 0 rg BT 416.02 296.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.25 296.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 452.27 296.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 480.39 296.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 505.73 296.10 Td (are ) Tj ET Q q 0 0 0 rg BT 519.95 296.10 Td (ef) Tj ET Q q 0 0 0 rg BT 527.54 296.10 Td (fectively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 103.08 284.10 Td (to ) Tj ET Q q 0 0 0 rg BT 112.79 284.10 Td (our ) Tj ET Q q 0 0 0 rg BT 128.05 284.10 Td (and ) Tj ET Q q 0 0 0 rg BT 144.41 284.10 Td (the ) Tj ET Q q 0 0 0 rg BT 158.56 284.10 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 201.02 284.10 Td (Subsidiaries) Tj ET Q q 0 0 0 rg BT 252.50 284.10 Td ( ) Tj ET Q q 0 0 0 rg BT 254.42 284.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 288.02 284.10 Td (and ) Tj ET Q q 0 0 0 rg BT 304.38 284.10 Td (future ) Tj ET Q q 0 0 0 rg BT 330.19 284.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 362.65 284.10 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 416.24 284.10 Td (with ) Tj ET Q q 0 0 0 rg BT 435.94 284.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 466.19 284.10 Td (to ) Tj ET Q q 0 0 0 rg BT 475.89 284.10 Td (any ) Tj ET Q q 0 0 0 rg BT 492.26 284.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 517.52 284.10 Td (comprising ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (security ) Tj ET Q q 0 0 0 rg BT 83.66 272.10 Td (or ) Tj ET Q q 0 0 0 rg BT 94.49 272.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 134.18 272.10 Td (for ) Tj ET Q q 0 0 0 rg BT 148.34 272.10 Td (such ) Tj ET Q q 0 0 0 rg BT 169.17 272.10 Td (indebtedness.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 250.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.51 250.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 109.74 250.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 153.76 250.10 Td (our ) Tj ET Q q 0 0 0 rg BT 170.55 250.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 194.02 250.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 223.60 250.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 250.39 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 268.30 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 283.98 250.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 325.21 250.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 369.23 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 384.91 250.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 408.38 250.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 437.95 250.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 464.75 250.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 491.00 250.10 Td (our ) Tj ET Q q 0 0 0 rg BT 507.80 250.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 536.81 250.10 Td (to ) Tj ET Q q 0 0 0 rg BT 548.06 250.10 Td (pay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 238.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 90.88 238.10 Td (on, ) Tj ET Q q 0 0 0 rg BT 105.87 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.80 238.10 Td (repurchase, ) Tj ET Q q 0 0 0 rg BT 171.09 238.10 Td (our ) Tj ET Q q 0 0 0 rg BT 186.91 238.10 Td (common ) Tj ET Q q 0 0 0 rg BT 224.40 238.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 251.88 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 268.81 238.10 Td (any ) Tj ET Q q 0 0 0 rg BT 285.74 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 296.56 238.10 Td (our ) Tj ET Q q 0 0 0 rg BT 312.38 238.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 351.50 238.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 378.98 238.10 Td (then ) Tj ET Q q 0 0 0 rg BT 398.69 238.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 447.84 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 458.11 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.82 238.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 505.31 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 516.13 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.83 238.10 Td (positive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 226.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 82.51 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 92.77 226.10 Td (our ) Tj ET Q q 0 0 0 rg BT 108.58 226.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 152.70 226.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 193.51 226.10 Td (basket, ) Tj ET Q q 0 0 0 rg BT 228.47 226.10 Td (as ) Tj ET Q q 0 0 0 rg BT 239.29 226.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 271.75 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 282.01 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 296.71 226.10 Td (indentures. ) Tj ET Q q 0 0 0 rg BT 343.34 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 345.82 226.10 Td (In ) Tj ET Q q 0 0 0 rg BT 356.63 226.10 Td (each ) Tj ET Q q 0 0 0 rg BT 377.43 226.10 Td (case, ) Tj ET Q q 0 0 0 rg BT 399.62 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 414.31 226.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 458.44 226.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 499.24 226.10 Td (basket ) Tj ET Q q 0 0 0 rg BT 531.71 226.10 Td (is ) Tj ET Q q 0 0 0 rg BT 540.86 226.10 Td (equal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 214.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.67 214.10 Td ($125.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.56 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 120.94 214.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 140.00 214.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.05 214.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.38 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 174.76 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 185.48 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 201.20 214.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 242.45 214.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 295.38 214.10 Td (net ) Tj ET Q q 0 0 0 rg BT 309.98 214.10 Td (income ) Tj ET Q q 0 0 0 rg BT 341.80 214.10 Td (\(or ) Tj ET Q q 0 0 0 rg BT 355.85 214.10 Td (minus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.68 214.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.01 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 408.40 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 419.11 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 434.83 214.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 476.08 214.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 529.01 214.10 Td (net ) Tj ET Q q 0 0 0 rg BT 543.61 214.10 Td (loss\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 202.10 Td (from ) Tj ET Q q 0 0 0 rg BT 70.86 202.10 Td (October ) Tj ET Q q 0 0 0 rg BT 104.99 202.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 114.41 202.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 138.83 202.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 180.19 202.10 Td (income ) Tj ET Q q 0 0 0 rg BT 211.54 202.10 Td (or ) Tj ET Q q 0 0 0 rg BT 221.79 202.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 239.28 202.10 Td (from ) Tj ET Q q 0 0 0 rg BT 260.64 202.10 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 311.98 202.10 Td (Subsidiaries, ) Tj ET Q q 0 0 0 rg BT 365.29 202.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 383.88 202.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.46 202.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.79 202.10 Td ( ) Tj ET Q q 0 0 0 rg BT 422.71 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 432.96 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 447.10 202.10 Td (net ) Tj ET Q q 0 0 0 rg BT 461.24 202.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 480.93 202.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 518.39 202.10 Td (from ) Tj ET Q q 0 0 0 rg BT 539.75 202.10 Td (either ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 190.10 Td (contributions ) Tj ET Q q 0 0 0 rg BT 104.08 190.10 Td (to ) Tj ET Q q 0 0 0 rg BT 113.67 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.70 190.10 Td (common ) Tj ET Q q 0 0 0 rg BT 164.51 190.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 191.32 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 201.46 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 215.49 190.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 256.18 190.10 Td (after ) Tj ET Q q 0 0 0 rg BT 276.31 190.10 Td (December ) Tj ET Q q 0 0 0 rg BT 319.21 190.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 328.52 190.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 350.33 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 360.47 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.50 190.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 391.86 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.00 190.10 Td (qualified ) Tj ET Q q 0 0 0 rg BT 439.35 190.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 466.16 190.10 Td (interests ) Tj ET Q q 0 0 0 rg BT 501.30 190.10 Td (after ) Tj ET Q q 0 0 0 rg BT 521.42 190.10 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 59.42 178.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 84.35 178.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 103.44 178.10 Td (other ) Tj ET Q q 0 0 0 rg BT 126.41 178.10 Td (items ) Tj ET Q q 0 0 0 rg BT 150.50 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 167.37 178.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 198.12 178.10 Td (to ) Tj ET Q q 0 0 0 rg BT 208.32 178.10 Td (other ) Tj ET Q q 0 0 0 rg BT 231.29 178.10 Td (exceptions. ) Tj ET Q q 0 0 0 rg BT 278.98 178.10 Td ( ) Tj ET Q q 0 0 0 rg BT 281.23 178.10 Td (The ) Tj ET Q q 0 0 0 rg BT 299.20 178.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 338.82 178.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 379.57 178.10 Td (basket ) Tj ET Q q 0 0 0 rg BT 407.54 178.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.52 178.10 Td ($214.0 ) Tj ET Q q 0 0 0 rg BT 455.45 178.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.34 178.10 Td ( ) Tj ET Q q 0 0 0 rg BT 486.76 178.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.62 178.10 Td ($176.1million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 166.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.94 166.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 94.50 166.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 166.10 Td ( ) Tj ET Q q 0 0 0 rg BT 116.73 166.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.39 166.10 Td (December ) Tj ET Q q 0 0 0 rg BT 176.70 166.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 191.43 166.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.43 166.10 Td (, ) Tj ET Q q 0 0 0 rg BT 216.16 166.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 263.82 166.10 Td (. ) Tj ET Q q 0 0 0 rg BT 268.54 166.10 Td ( ) Tj ET Q q 0 0 0 rg BT 270.61 166.10 Td (The ) Tj ET Q q 0 0 0 rg BT 288.38 166.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 346.15 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 356.15 166.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 372.82 166.10 Td (future ) Tj ET Q q 0 0 0 rg BT 398.92 166.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 440.03 166.10 Td (on, ) Tj ET Q q 0 0 0 rg BT 454.76 166.10 Td (or ) Tj ET Q q 0 0 0 rg BT 465.32 166.10 Td (make ) Tj ET Q q 0 0 0 rg BT 489.20 166.10 Td (future ) Tj ET Q q 0 0 0 rg BT 515.30 166.10 Td (repurchases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 154.10 Td (of, ) Tj ET Q q 0 0 0 rg BT 62.67 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 78.34 154.10 Td (common ) Tj ET Q q 0 0 0 rg BT 115.68 154.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 143.01 154.10 Td (will ) Tj ET Q q 0 0 0 rg BT 160.90 154.10 Td (be ) Tj ET Q q 0 0 0 rg BT 172.68 154.10 Td (at ) Tj ET Q q 0 0 0 rg BT 182.24 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 196.80 154.10 Td (discretion ) Tj ET Q q 0 0 0 rg BT 238.57 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 249.24 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 264.91 154.10 Td (board ) Tj ET Q q 0 0 0 rg BT 290.02 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 300.69 154.10 Td (directors ) Tj ET Q q 0 0 0 rg BT 338.02 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 354.80 154.10 Td (will ) Tj ET Q q 0 0 0 rg BT 372.69 154.10 Td (depend ) Tj ET Q q 0 0 0 rg BT 403.91 154.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 426.25 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 441.92 154.10 Td (results ) Tj ET Q q 0 0 0 rg BT 470.37 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 481.04 154.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 527.54 154.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 142.10 Td (condition, ) Tj ET Q q 0 0 0 rg BT 92.04 142.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 120.95 142.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 175.42 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 192.12 142.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 240.47 142.10 Td (with ) Tj ET Q q 0 0 0 rg BT 260.51 142.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 279.99 142.10 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 324.74 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 341.44 142.10 Td (other ) Tj ET Q q 0 0 0 rg BT 364.25 142.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 393.72 142.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 427.08 142.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 461.54 142.10 Td (by ) Tj ET Q q 0 0 0 rg BT 473.81 142.10 Td (our ) Tj ET Q q 0 0 0 rg BT 489.40 142.10 Td (board ) Tj ET Q q 0 0 0 rg BT 514.43 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.02 142.10 Td (directors. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 120.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 99.77 120.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 129.50 120.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 187.58 120.10 Td (Notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.91 120.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 98.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.62 98.10 Td (March ) Tj ET Q q 0 0 0 rg BT 93.61 98.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 104.00 98.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 129.40 98.10 Td (the ) Tj ET Q q 0 0 0 rg BT 144.51 98.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 186.29 98.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.19 98.10 Td ($86.3 ) Tj ET Q q 0 0 0 rg BT 239.58 98.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.47 98.10 Td ( ) Tj ET Q q 0 0 0 rg BT 271.37 98.10 Td (in ) Tj ET Q q 0 0 0 rg BT 282.04 98.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 323.80 98.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 362.23 98.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 395.12 98.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.35 98.10 Td (3.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.18 98.10 Td ( ) Tj ET Q q 0 0 0 rg BT 430.07 98.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 480.18 98.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 509.18 98.10 Td (Subordinated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 86.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.97 86.10 Td (due ) Tj ET Q q 0 0 0 rg BT 93.55 86.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 116.69 86.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 135.38 86.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 162.96 86.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 213.32 86.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 242.57 86.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 299.04 86.10 Td (Notes\). ) Tj ET Q q 0 0 0 rg BT 335.78 86.10 Td ( ) Tj ET Q q 0 0 0 rg BT 338.69 86.10 Td (The ) Tj ET Q q 0 0 0 rg BT 357.38 86.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 380.52 86.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 430.88 86.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 460.13 86.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 516.59 86.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 543.07 86.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 74.10 Td (scheduled ) Tj ET Q q 0 0 0 rg BT 92.24 74.10 Td (to ) Tj ET Q q 0 0 0 rg BT 102.77 74.10 Td (mature ) Tj ET Q q 0 0 0 rg BT 133.29 74.10 Td (on ) Tj ET Q q 0 0 0 rg BT 146.04 74.10 Td (March ) Tj ET Q q 0 0 0 rg BT 174.89 74.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 185.14 74.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 207.90 74.10 Td (and ) Tj ET Q q 0 0 0 rg BT 225.09 74.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.06 74.10 Td (deadline ) Tj ET Q q 0 0 0 rg BT 276.68 74.10 Td (for ) Tj ET Q q 0 0 0 rg BT 291.10 74.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 323.29 74.10 Td (to ) Tj ET Q q 0 0 0 rg BT 333.82 74.10 Td (convert ) Tj ET Q q 0 0 0 rg BT 366.56 74.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.53 74.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 404.28 74.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 454.24 74.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 483.11 74.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 539.18 74.10 Td (Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 62.10 Td (was ) Tj ET Q q 0 0 0 rg BT 67.41 62.10 Td (February ) Tj ET Q q 0 0 0 rg BT 105.88 62.10 Td (27, ) Tj ET Q q 0 0 0 rg BT 120.74 62.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 145.60 62.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.44 62.10 Td (As ) Tj ET Q q 0 0 0 rg BT 160.92 62.10 Td (a ) Tj ET Q q 0 0 0 rg BT 167.72 62.10 Td (result ) Tj ET Q q 0 0 0 rg BT 192.30 62.10 Td (of ) Tj ET Q q 0 0 0 rg BT 202.99 62.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 249.23 62.10 Td (elections ) Tj ET Q q 0 0 0 rg BT 287.13 62.10 Td (made ) Tj ET Q q 0 0 0 rg BT 311.15 62.10 Td (by ) Tj ET Q q 0 0 0 rg BT 323.51 62.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 355.31 62.10 Td (of ) Tj ET Q q 0 0 0 rg BT 366.00 62.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.58 62.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 402.95 62.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 452.52 62.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 480.99 62.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 536.68 62.10 Td (Notes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 50.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 63.04 50.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.67 50.10 Td ($20.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.56 50.10 Td ( ) Tj ET Q q 0 0 0 rg BT 178.44 50.10 Td (in ) Tj ET Q q 0 0 0 rg BT 188.09 50.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 228.83 50.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 266.25 50.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 298.12 50.10 Td (of ) Tj ET Q q 0 0 0 rg BT 308.33 50.10 Td (the ) Tj ET Q q 0 0 0 rg BT 322.42 50.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 344.30 50.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 393.39 50.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 421.37 50.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 476.57 50.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 501.78 50.10 Td (were ) Tj ET Q q 0 0 0 rg BT 523.09 50.10 Td (converted ) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.49 740.10 Td (settled ) Tj ET Q q 0 0 0 rg BT 95.14 740.10 Td (through ) Tj ET Q q 0 0 0 rg BT 128.80 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.56 740.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 179.99 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.87 740.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.17 740.10 Td (0.629 ) Tj ET Q q 0 0 0 rg BT 276.22 740.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.12 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 307.66 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 318.54 740.10 Td (our ) Tj ET Q q 0 0 0 rg BT 334.42 740.10 Td (common ) Tj ET Q q 0 0 0 rg BT 371.97 740.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 399.50 740.10 Td (\(at ) Tj ET Q q 0 0 0 rg BT 412.60 740.10 Td (a ) Tj ET Q q 0 0 0 rg BT 419.59 740.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 466.01 740.10 Td (price ) Tj ET Q q 0 0 0 rg BT 488.55 740.10 Td (per ) Tj ET Q q 0 0 0 rg BT 503.87 740.10 Td (common ) Tj ET Q q 0 0 0 rg BT 541.41 740.10 Td (share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.75 728.10 Td ($32.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.25 728.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 92.50 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 108.85 728.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 122.43 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 136.57 728.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 177.37 728.10 Td (repaid ) Tj ET Q q 0 0 0 rg BT 204.27 728.10 Td (in ) Tj ET Q q 0 0 0 rg BT 213.97 728.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 233.66 728.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.33 728.10 Td ($65.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.22 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 349.14 728.10 Td (in ) Tj ET Q q 0 0 0 rg BT 358.84 728.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 399.62 728.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 437.08 728.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 468.99 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.24 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 493.38 728.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 515.29 728.10 Td (Convertible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 78.54 716.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 134.79 716.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 161.05 716.10 Td (at ) Tj ET Q q 0 0 0 rg BT 171.19 716.10 Td (maturity) Tj ET Q q 0 0 0 rg BT 204.42 716.10 Td (. ) Tj ET Q q 0 0 0 rg BT 209.85 716.10 Td ( ) Tj ET Q q 0 0 0 rg BT 212.78 716.10 Td (In ) Tj ET Q q 0 0 0 rg BT 224.03 716.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 271.92 716.10 Td (with ) Tj ET Q q 0 0 0 rg BT 292.63 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 307.77 716.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 348.46 716.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 391.94 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.08 716.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 430.01 716.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 480.15 716.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 509.18 716.10 Td (Subordinated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 78.69 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 94.28 704.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 136.53 704.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 157.11 704.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 189.91 704.10 Td (on ) Tj ET Q q 0 0 0 rg BT 203.27 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 218.85 704.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 242.21 704.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 292.79 704.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 322.26 704.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 378.95 704.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 405.65 704.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 419.29 704.10 Td (but ) Tj ET Q q 0 0 0 rg BT 435.43 704.10 Td (excluding, ) Tj ET Q q 0 0 0 rg BT 480.73 704.10 Td (March ) Tj ET Q q 0 0 0 rg BT 510.19 704.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 521.06 704.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 546.92 704.10 Td ( ) Tj ET Q q 0 0 0 rg BT 550.29 704.10 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.08 692.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 108.08 692.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 692.10 Td (, ) Tj ET Q q 0 0 0 rg BT 133.08 692.10 Td (we ) Tj ET Q q 0 0 0 rg BT 147.24 692.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.18 692.10 Td ($86.3 ) Tj ET Q q 0 0 0 rg BT 189.18 692.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.07 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 220.57 692.10 Td (of ) Tj ET Q q 0 0 0 rg BT 231.40 692.10 Td (our ) Tj ET Q q 0 0 0 rg BT 247.23 692.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 269.73 692.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 319.45 692.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 348.05 692.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 403.88 692.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 429.71 692.10 Td (outstanding. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.33 670.10 Td (Payable ) Tj ET Q q 0 0 0 rg BT 110.59 670.10 Td (- ) Tj ET Q q 0 0 0 rg BT 116.42 670.10 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 648.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.38 648.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 110.61 648.10 Td (had ) Tj ET Q q 0 0 0 rg BT 128.38 648.10 Td (other ) Tj ET Q q 0 0 0 rg BT 152.27 648.10 Td (borrowings, ) Tj ET Q q 0 0 0 rg BT 203.66 648.10 Td (which ) Tj ET Q q 0 0 0 rg BT 231.43 648.10 Td (are ) Tj ET Q q 0 0 0 rg BT 246.98 648.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 283.63 648.10 Td (in ) Tj ET Q q 0 0 0 rg BT 294.75 648.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 321.41 648.10 Td (Payable ) Tj ET Q q 0 0 0 rg BT 356.41 648.10 Td (- ) Tj ET Q q 0 0 0 rg BT 363.07 648.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 389.18 648.10 Td (in ) Tj ET Q q 0 0 0 rg BT 400.30 648.10 Td (our ) Tj ET Q q 0 0 0 rg BT 416.96 648.10 Td (Unaudited ) Tj ET Q q 0 0 0 rg BT 461.96 648.10 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 509.73 648.10 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 636.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 83.98 636.10 Td (Sheets, ) Tj ET Q q 0 0 0 rg BT 114.86 636.10 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.69 636.10 Td ($9.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.58 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 198.85 636.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.56 636.10 Td ($10.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.46 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 271.73 636.10 Td (as ) Tj ET Q q 0 0 0 rg BT 282.33 636.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.94 636.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 328.54 636.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.54 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 350.82 636.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.53 636.10 Td (December ) Tj ET Q q 0 0 0 rg BT 410.89 636.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 425.66 636.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.66 636.10 Td (, ) Tj ET Q q 0 0 0 rg BT 450.44 636.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 498.10 636.10 Td (. ) Tj ET Q q 0 0 0 rg BT 505.21 636.10 Td (The ) Tj ET Q q 0 0 0 rg BT 523.03 636.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 555.84 636.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 624.10 Td (made ) Tj ET Q q 0 0 0 rg BT 73.66 624.10 Td (up ) Tj ET Q q 0 0 0 rg BT 86.16 624.10 Td (of ) Tj ET Q q 0 0 0 rg BT 96.99 624.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 120.59 624.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 154.19 624.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 191.11 624.10 Td (in ) Tj ET Q q 0 0 0 rg BT 201.39 624.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.11 624.10 Td (normal ) Tj ET Q q 0 0 0 rg BT 246.93 624.10 Td (course ) Tj ET Q q 0 0 0 rg BT 275.53 624.10 Td (of ) Tj ET Q q 0 0 0 rg BT 286.36 624.10 Td (business.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 602.10 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.34 602.10 Td (9. ) Tj ET Q q 0 0 0 rg BT 90.34 602.10 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 131.74 602.10 Td (Per) Tj ET Q q 0 0 0 rg BT 146.55 602.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.05 602.10 Td (Shar) Tj ET Q q 0 0 0 rg BT 169.43 602.10 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 580.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.28 580.10 Td (table ) Tj ET Q q 0 0 0 rg BT 88.94 580.10 Td (below ) Tj ET Q q 0 0 0 rg BT 115.61 580.10 Td (presents ) Tj ET Q q 0 0 0 rg BT 150.61 580.10 Td (a ) Tj ET Q q 0 0 0 rg BT 157.28 580.10 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 214.48 580.10 Td (between ) Tj ET Q q 0 0 0 rg BT 250.03 580.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 272.81 580.10 Td (and ) Tj ET Q q 0 0 0 rg BT 289.48 580.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 319.48 580.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 358.37 580.10 Td (average ) Tj ET Q q 0 0 0 rg BT 391.68 580.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 418.90 580.10 Td (outstanding, ) Tj ET Q q 0 0 0 rg BT 470.30 580.10 Td (net ) Tj ET Q q 0 0 0 rg BT 484.74 580.10 Td (income ) Tj ET Q q 0 0 0 rg BT 516.41 580.10 Td (available ) Tj ET Q q 0 0 0 rg BT 554.73 580.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 568.10 Td (common ) Tj ET Q q 0 0 0 rg BT 87.00 568.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 140.03 568.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.97 568.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 180.02 568.10 Td (and ) Tj ET Q q 0 0 0 rg BT 196.96 568.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 227.23 568.10 Td (income ) Tj ET Q q 0 0 0 rg BT 259.16 568.10 Td (per ) Tj ET Q q 0 0 0 rg BT 274.43 568.10 Td (share ) Tj ET Q q 0 0 0 rg BT 298.03 568.10 Td (for ) Tj ET Q q 0 0 0 rg BT 312.19 568.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.91 568.10 Td (three ) Tj ET Q q 0 0 0 rg BT 349.39 568.10 Td (and ) Tj ET Q q 0 0 0 rg BT 366.33 568.10 Td (six ) Tj ET Q q 0 0 0 rg BT 380.50 568.10 Td (months ) Tj ET Q q 0 0 0 rg BT 412.45 568.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 438.83 568.10 Td (June ) Tj ET Q q 0 0 0 rg BT 459.66 568.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 474.66 568.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 497.16 568.10 Td (and ) Tj ET Q q 0 0 0 rg BT 514.09 568.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.09 568.10 Td (: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 520.6 m 321 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 520.6 m 326 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 520.6 m 379 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 520.6 m 386 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 520.6 m 439 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 520.6 m 449 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 520.6 m 502 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 520.6 m 509 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 520.6 m 562 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 520.6 m 379 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 520.6 m 439 520.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 481.6 m 321 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 468.6 m 321 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 481.6 m 326 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 468.6 m 326 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 481.6 m 379 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 468.6 m 379 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 481.6 m 386 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 468.6 m 386 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 481.6 m 439 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 468.6 m 439 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 481.6 m 449 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 468.6 m 449 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 481.6 m 502 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 468.6 m 502 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 481.6 m 509 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 468.6 m 509 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 481.6 m 562 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 468.6 m 562 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 442.6 m 379 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 442.6 m 386 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 442.6 m 439 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 442.6 m 449 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 442.6 m 502 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 442.6 m 509 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 442.6 m 562 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 442.6 m 321 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 429.6 m 321 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 442.6 m 326 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 429.6 m 326 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 442.6 m 379 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 429.6 m 379 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 442.6 m 386 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 429.6 m 386 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 442.6 m 439 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 429.6 m 439 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 442.6 m 449 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 429.6 m 449 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 442.6 m 502 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 429.6 m 502 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 442.6 m 509 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 429.6 m 509 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 442.6 m 562 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 429.6 m 562 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 429.6 m 379 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 429.6 m 439 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 338.6 m 379 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 338.6 m 386 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 338.6 m 439 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 338.6 m 321 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 325.6 m 321 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 338.6 m 326 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 325.6 m 326 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 338.6 m 379 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 325.6 m 379 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 338.6 m 386 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 325.6 m 386 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 338.6 m 439 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 325.6 m 439 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 338.6 m 449 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 325.6 m 449 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 338.6 m 502 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 325.6 m 502 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 338.6 m 509 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 325.6 m 509 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 338.6 m 562 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 325.6 m 562 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 325.6 m 321 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 325.6 m 326 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 325.6 m 379 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 325.6 m 386 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 325.6 m 439 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 325.6 m 449 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 325.6 m 502 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 325.6 m 509 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 325.6 m 562 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 286.6 m 321 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 286.6 m 326 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 286.6 m 379 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 286.6 m 386 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 286.6 m 439 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 286.6 m 449 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 286.6 m 502 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 286.6 m 509 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 286.6 m 562 286.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 265.6 m 321 265.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 265.6 m 326 265.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 265.6 m 379 265.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 265.6 m 386 265.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 265.6 m 439 265.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 265.6 m 449 265.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 265.6 m 502 265.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 265.6 m 509 265.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 265.6 m 562 265.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.60 549.68 Td (Thr) Tj ET Q q 0 0 0 rg BT 358.86 549.68 Td (ee Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.40 549.68 Td (Six Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.75 537.68 Td (June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.75 537.68 Td (June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 524.85 Td (\(In thousands, except per share amounts\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.00 524.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 524.85 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 524.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.00 524.85 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 511.83 Td (NUMERA) Tj ET Q q 0 0 0 rg BT 87.20 511.83 Td (T) Tj ET Q q 0 0 0 rg BT 92.17 511.83 Td (OR) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 498.85 Td (Net income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.50 498.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 498.83 Td (27,91) Tj ET Q q 0 0 0 rg BT 371.75 498.83 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.50 498.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 498.85 Td (16,989) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 498.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 498.83 Td (45,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 498.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 498.85 Td (33,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 485.85 Td (Preferred stock dividends ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 135.25 489.48 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.80 485.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.10 485.85 Td (\(1,219) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.80 485.85 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.80 485.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 485.85 Td (\(2,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 485.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 472.85 Td (Net income available to common shareholders) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 472.83 Td (27,91) Tj ET Q q 0 0 0 rg BT 371.75 472.83 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 472.85 Td (15,770) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 472.83 Td (45,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 472.85 Td (31,434) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 459.85 Td (Interest on 3.25% convertible senior subordinated notes due 2017 ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 263.45 463.48 Td (\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.80 459.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 459.85 Td (391) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.80 459.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 459.85 Td (782) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 446.85 Td (Interest on 3.00% convertible senior subordinated notes due 2018) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 261.45 450.48 Td ( \(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.80 446.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 446.85 Td (527) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.80 446.83 Td (409) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 446.85 Td (1,055) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 433.85 Td (Diluted income available to common shareholders) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.50 433.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 433.83 Td (27,91) Tj ET Q q 0 0 0 rg BT 371.75 433.83 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.50 433.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 433.85 Td (16,688) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 433.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 433.83 Td (46,383) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 433.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 433.85 Td (33,271) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 420.83 Td (DENOMINA) Tj ET Q q 0 0 0 rg BT 96.24 420.83 Td (T) Tj ET Q q 0 0 0 rg BT 101.43 420.83 Td (OR) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 407.85 Td (Basic weighted average shares outstanding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 407.83 Td (28,571) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 407.85 Td (24,990) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 407.83 Td (28,349) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 407.85 Td (24,864) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 394.85 Td (Ef) Tj ET Q q 0 0 0 rg BT 58.98 394.85 Td (fect of dilutive securities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 381.85 Td (Stock option awards) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 363.80 381.83 Td (353) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 381.85 Td (335) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.80 381.83 Td (409) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 381.85 Td (330) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 368.85 Td (Deferred compensation awards) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 363.80 368.83 Td (177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 368.85 Td (209) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.80 368.83 Td (194) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 368.85 Td (192) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 355.85 Td (3.25% convertible senior subordinated notes due 2017) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 225.46 359.48 Td ( \(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.80 355.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 355.85 Td (2,416) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 490.80 355.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 355.85 Td (2,416) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 342.85 Td (3.00% convertible senior subordinated notes due 2018 ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 227.46 346.48 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.80 342.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 342.85 Td (2,669) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.80 342.83 Td (866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 342.85 Td (2,669) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 329.85 Td (Diluted weighted average shares outstanding - adjusted for assumed conversions) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.75 329.83 Td (29,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.75 329.85 Td (30,619) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 329.83 Td (29,818) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 329.85 Td (30,471) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 316.85 Td (Earnings per common share:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 303.85 Td (Basic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.50 303.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 303.83 Td (0.98) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.50 303.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 303.85 Td (0.63) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 303.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.80 303.83 Td (1.62) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 303.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 303.85 Td (1.26) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 290.85 Td (Diluted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.50 290.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 290.83 Td (0.96) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.50 290.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 290.85 Td (0.55) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 290.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.80 290.83 Td (1.56) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 290.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 290.85 Td (1.09) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 277.85 Td (Anti-dilutive equity awards not included in the calculation of diluted earnings per) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 269.85 Td (common share) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 363.80 269.83 Td (434) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 269.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.80 269.83 Td (326) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 269.85 Td (47) Tj ET Q BT /F1 10.00 Tf ET BT /F1 7.70 Tf ET q 0 0 0 rg BT 49.50 253.85 Td (\(a\) ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 253.85 Td (The ) Tj ET Q q 0 0 0 rg BT 81.37 253.85 Td (Company) Tj ET Q q 0 0 0 rg BT 113.45 253.85 Td (s ) Tj ET Q q 0 0 0 rg BT 117.92 253.85 Td (Articles ) Tj ET Q q 0 0 0 rg BT 144.19 253.85 Td (of ) Tj ET Q q 0 0 0 rg BT 152.50 253.85 Td (Incorporation ) Tj ET Q q 0 0 0 rg BT 196.31 253.85 Td (authorize ) Tj ET Q q 0 0 0 rg BT 226.85 253.85 Td (the ) Tj ET Q q 0 0 0 rg BT 238.15 253.85 Td (issuance ) Tj ET Q q 0 0 0 rg BT 266.13 253.85 Td (of ) Tj ET Q q 0 0 0 rg BT 274.44 253.85 Td (up ) Tj ET Q q 0 0 0 rg BT 284.04 253.85 Td (to ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 291.92 253.85 Td (2,000,000) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 322.73 253.85 Td ( ) Tj ET Q q 0 0 0 rg BT 324.62 253.85 Td (preferred ) Tj ET Q q 0 0 0 rg BT 354.73 253.85 Td (shares, ) Tj ET Q q 0 0 0 rg BT 377.79 253.85 Td (par ) Tj ET Q q 0 0 0 rg BT 389.52 253.85 Td (value ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 408.09 253.85 Td ($.01) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 421.57 253.85 Td ( ) Tj ET Q q 0 0 0 rg BT 423.46 253.85 Td (per ) Tj ET Q q 0 0 0 rg BT 435.19 253.85 Td (share.On ) Tj ET Q q 0 0 0 rg BT 468.52 253.85 Td (March ) Tj ET Q q 0 0 0 rg BT 490.51 253.85 Td (15, ) Tj ET Q q 0 0 0 rg BT 502.03 253.85 Td (2007, ) Tj ET Q q 0 0 0 rg BT 521.25 253.85 Td (the ) Tj ET Q q 0 0 0 rg BT 532.56 253.85 Td (Company ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 244.60 Td (issued ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 88.81 244.60 Td (4,000,000) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 119.61 244.60 Td ( ) Tj ET Q q 0 0 0 rg BT 121.67 244.60 Td (depositary ) Tj ET Q q 0 0 0 rg BT 155.80 244.60 Td (shares, ) Tj ET Q q 0 0 0 rg BT 179.02 244.60 Td (each ) Tj ET Q q 0 0 0 rg BT 195.18 244.60 Td (representing ) Tj ET Q q 0 0 0 rg BT 235.30 244.60 Td (1/1000th ) Tj ET Q q 0 0 0 rg BT 264.73 244.60 Td (of ) Tj ET Q q 0 0 0 rg BT 273.20 244.60 Td (a ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 278.68 244.60 Td (9.75%) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 298.57 244.60 Td ( ) Tj ET Q q 0 0 0 rg BT 300.63 244.60 Td (Series ) Tj ET Q q 0 0 0 rg BT 321.05 244.60 Td (A) Tj ET Q q 0 0 0 rg BT 326.18 244.60 Td ( ) Tj ET Q q 0 0 0 rg BT 328.24 244.60 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 358.94 244.60 Td (Share ) Tj ET Q q 0 0 0 rg BT 378.53 244.60 Td (of ) Tj ET Q q 0 0 0 rg BT 387.00 244.60 Td (the ) Tj ET Q q 0 0 0 rg BT 398.46 244.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 430.46 244.60 Td (\(the ) Tj ET Q q 0 0 0 rg BT 444.49 244.60 Td (Series ) Tj ET Q q 0 0 0 rg BT 468.33 244.60 Td (A) Tj ET Q q 0 0 0 rg BT 473.47 244.60 Td ( ) Tj ET Q q 0 0 0 rg BT 475.52 244.60 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 506.22 244.60 Td (Shares\), ) Tj ET Q q 0 0 0 rg BT 536.72 244.60 Td (or ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 545.19 244.60 Td (4,000) Tj ET Q BT /F1 7.70 Tf ET BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 235.35 Td (Series ) Tj ET Q q 0 0 0 rg BT 87.58 235.35 Td (A) Tj ET Q q 0 0 0 rg BT 92.72 235.35 Td ( ) Tj ET Q q 0 0 0 rg BT 94.34 235.35 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 124.60 235.35 Td (Shares ) Tj ET Q q 0 0 0 rg BT 146.75 235.35 Td (in ) Tj ET Q q 0 0 0 rg BT 154.36 235.35 Td (the ) Tj ET Q q 0 0 0 rg BT 165.39 235.35 Td (aggregate.On ) Tj ET Q q 0 0 0 rg BT 211.77 235.35 Td (April ) Tj ET Q q 0 0 0 rg BT 229.64 235.35 Td (10, ) Tj ET Q q 0 0 0 rg BT 240.89 235.35 Td (2013, ) Tj ET Q q 0 0 0 rg BT 259.84 235.35 Td (the ) Tj ET Q q 0 0 0 rg BT 270.87 235.35 Td (Company ) Tj ET Q q 0 0 0 rg BT 302.43 235.35 Td (redeemed ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 333.98 235.35 Td (2,000) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 351.30 235.35 Td ( ) Tj ET Q q 0 0 0 rg BT 352.92 235.35 Td (of ) Tj ET Q q 0 0 0 rg BT 360.96 235.35 Td (its ) Tj ET Q q 0 0 0 rg BT 369.86 235.35 Td (Series ) Tj ET Q q 0 0 0 rg BT 389.94 235.35 Td (A) Tj ET Q q 0 0 0 rg BT 395.07 235.35 Td ( ) Tj ET Q q 0 0 0 rg BT 396.69 235.35 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 426.96 235.35 Td (Shares ) Tj ET Q q 0 0 0 rg BT 449.11 235.35 Td (\(and ) Tj ET Q q 0 0 0 rg BT 464.41 235.35 Td (the ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 475.44 235.35 Td (2,000,000) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 506.24 235.35 Td ( ) Tj ET Q q 0 0 0 rg BT 507.86 235.35 Td (related ) Tj ET Q q 0 0 0 rg BT 530.43 235.35 Td (depositary ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 226.15 Td (shares\) ) Tj ET Q q 0 0 0 rg BT 91.05 226.15 Td (for ) Tj ET Q q 0 0 0 rg BT 101.77 226.15 Td (an ) Tj ET Q q 0 0 0 rg BT 110.77 226.15 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 142.44 226.15 Td (redemption ) Tj ET Q q 0 0 0 rg BT 179.25 226.15 Td (price ) Tj ET Q q 0 0 0 rg BT 196.38 226.15 Td (of ) Tj ET Q q 0 0 0 rg BT 204.53 226.15 Td (approximately ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 250.74 226.15 Td ($50.4million) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 292.24 226.15 Td ( ) Tj ET Q q 0 0 0 rg BT 293.98 226.15 Td (in ) Tj ET Q q 0 0 0 rg BT 301.71 226.15 Td (cash. ) Tj ET Q q 0 0 0 rg BT 319.06 226.15 Td ( ) Tj ET Q q 0 0 0 rg BT 320.80 226.15 Td (On ) Tj ET Q q 0 0 0 rg BT 331.95 226.15 Td (October ) Tj ET Q q 0 0 0 rg BT 358.49 226.15 Td (16, ) Tj ET Q q 0 0 0 rg BT 369.86 226.15 Td (2017, ) Tj ET Q q 0 0 0 rg BT 388.92 226.15 Td (the ) Tj ET Q q 0 0 0 rg BT 400.07 226.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 431.75 226.15 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 463.42 226.15 Td (the ) Tj ET Q q 0 0 0 rg BT 474.56 226.15 Td (remaining ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 507.52 226.15 Td (2,000) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 524.85 226.15 Td ( ) Tj ET Q q 0 0 0 rg BT 526.59 226.15 Td (outstanding ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 216.90 Td (Series ) Tj ET Q q 0 0 0 rg BT 87.78 216.90 Td (A) Tj ET Q q 0 0 0 rg BT 92.91 216.90 Td ( ) Tj ET Q q 0 0 0 rg BT 94.79 216.90 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 125.30 216.90 Td (Shares ) Tj ET Q q 0 0 0 rg BT 147.70 216.90 Td (\(and ) Tj ET Q q 0 0 0 rg BT 163.26 216.90 Td (the ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 174.54 216.90 Td (2,000,000) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 205.34 216.90 Td ( ) Tj ET Q q 0 0 0 rg BT 207.21 216.90 Td (related ) Tj ET Q q 0 0 0 rg BT 230.03 216.90 Td (depositary ) Tj ET Q q 0 0 0 rg BT 263.98 216.90 Td (shares\) ) Tj ET Q q 0 0 0 rg BT 287.65 216.90 Td (for ) Tj ET Q q 0 0 0 rg BT 298.51 216.90 Td (an ) Tj ET Q q 0 0 0 rg BT 307.65 216.90 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 339.44 216.90 Td (redemption ) Tj ET Q q 0 0 0 rg BT 376.38 216.90 Td (price ) Tj ET Q q 0 0 0 rg BT 393.64 216.90 Td (of ) Tj ET Q q 0 0 0 rg BT 401.93 216.90 Td (approximately ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 448.28 216.90 Td ($50.4million) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 489.77 216.90 Td ( ) Tj ET Q q 0 0 0 rg BT 491.65 216.90 Td (in ) Tj ET Q q 0 0 0 rg BT 499.51 216.90 Td (cash. ) Tj ET Q q 0 0 0 rg BT 516.99 216.90 Td ( ) Tj ET Q q 0 0 0 rg BT 518.73 216.90 Td (The ) Tj ET Q q 0 0 0 rg BT 532.57 216.90 Td (Company ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 207.65 Td (declared ) Tj ET Q q 0 0 0 rg BT 95.61 207.65 Td (and ) Tj ET Q q 0 0 0 rg BT 108.76 207.65 Td (paid ) Tj ET Q q 0 0 0 rg BT 124.06 207.65 Td (a ) Tj ET Q q 0 0 0 rg BT 129.51 207.65 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 159.34 207.65 Td (cash ) Tj ET Q q 0 0 0 rg BT 175.06 207.65 Td (dividend ) Tj ET Q q 0 0 0 rg BT 204.04 207.65 Td (of ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 212.49 207.65 Td ($609.375) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 241.37 207.65 Td ( ) Tj ET Q q 0 0 0 rg BT 243.40 207.65 Td (per ) Tj ET Q q 0 0 0 rg BT 255.27 207.65 Td (share ) Tj ET Q q 0 0 0 rg BT 273.55 207.65 Td (on ) Tj ET Q q 0 0 0 rg BT 283.29 207.65 Td (its ) Tj ET Q q 0 0 0 rg BT 292.60 207.65 Td (then ) Tj ET Q q 0 0 0 rg BT 307.89 207.65 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 345.86 207.65 Td (Series ) Tj ET Q q 0 0 0 rg BT 366.27 207.65 Td (A) Tj ET Q q 0 0 0 rg BT 371.40 207.65 Td ( ) Tj ET Q q 0 0 0 rg BT 373.44 207.65 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 404.12 207.65 Td (Shares ) Tj ET Q q 0 0 0 rg BT 426.68 207.65 Td (in ) Tj ET Q q 0 0 0 rg BT 434.71 207.65 Td (both ) Tj ET Q q 0 0 0 rg BT 450.43 207.65 Td (the ) Tj ET Q q 0 0 0 rg BT 461.88 207.65 Td (first ) Tj ET Q q 0 0 0 rg BT 476.31 207.65 Td (and ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 489.47 207.65 Td (second ) Tj ET Q q 0 0 0 rg BT 512.89 207.65 Td (quarter ) Tj ET Q q 0 0 0 rg BT 536.73 207.65 Td (of ) Tj ET Q q 0 0 0 rg BT 545.18 207.65 Td (2017) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 560.58 207.65 Td (, ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 198.40 Td (for ) Tj ET Q q 0 0 0 rg BT 78.12 198.40 Td (an ) Tj ET Q q 0 0 0 rg BT 87.03 198.40 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 118.60 198.40 Td (dividend ) Tj ET Q q 0 0 0 rg BT 147.18 198.40 Td (payment ) Tj ET Q q 0 0 0 rg BT 175.34 198.40 Td (on ) Tj ET Q q 0 0 0 rg BT 184.68 198.40 Td (the ) Tj ET Q q 0 0 0 rg BT 195.73 198.40 Td (Series ) Tj ET Q q 0 0 0 rg BT 215.83 198.40 Td (A) Tj ET Q q 0 0 0 rg BT 220.96 198.40 Td ( ) Tj ET Q q 0 0 0 rg BT 222.60 198.40 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 252.89 198.40 Td (Shares ) Tj ET Q q 0 0 0 rg BT 275.06 198.40 Td (of ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 283.11 198.40 Td ($1.2million) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 320.76 198.40 Td ( ) Tj ET Q q 0 0 0 rg BT 322.40 198.40 Td (and ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 335.16 198.40 Td ($2.4million) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 372.81 198.40 Td ( ) Tj ET Q q 0 0 0 rg BT 374.45 198.40 Td (in ) Tj ET Q q 0 0 0 rg BT 382.08 198.40 Td (the ) Tj ET Q q 0 0 0 rg BT 393.13 198.40 Td (three ) Tj ET Q q 0 0 0 rg BT 410.16 198.40 Td (and ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 422.92 198.40 Td (six ) Tj ET Q q 0 0 0 rg BT 433.55 198.40 Td (months ) Tj ET Q q 0 0 0 rg BT 457.86 198.40 Td (ended ) Tj ET Q q 0 0 0 rg BT 477.89 198.40 Td (June ) Tj ET Q q 0 0 0 rg BT 493.65 198.40 Td (30, ) Tj ET Q q 0 0 0 rg BT 504.91 198.40 Td (2017) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 520.31 198.40 Td (, ) Tj ET Q q 0 0 0 rg BT 523.88 198.40 Td (respectively) Tj ET Q q 0 0 0 rg BT 560.58 198.40 Td (.) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 49.50 186.15 Td (\(b\) ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 186.15 Td (On ) Tj ET Q q 0 0 0 rg BT 78.75 186.15 Td (September ) Tj ET Q q 0 0 0 rg BT 113.52 186.15 Td (1) Tj ET Q q 0 0 0 rg BT 117.09 186.15 Td (1, ) Tj ET Q q 0 0 0 rg BT 124.70 186.15 Td (2012, ) Tj ET Q q 0 0 0 rg BT 143.87 186.15 Td (the ) Tj ET Q q 0 0 0 rg BT 155.12 186.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 186.91 186.15 Td (issued ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 208.00 186.15 Td ($57.5 ) Tj ET Q q 0 0 0 rg BT 227.16 186.15 Td (million) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 249.41 186.15 Td ( ) Tj ET Q q 0 0 0 rg BT 251.25 186.15 Td (in ) Tj ET Q q 0 0 0 rg BT 259.08 186.15 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 290.85 186.15 Td (principal ) Tj ET Q q 0 0 0 rg BT 320.06 186.15 Td (amount ) Tj ET Q q 0 0 0 rg BT 345.00 186.15 Td (of ) Tj ET Q q 0 0 0 rg BT 353.25 186.15 Td ( ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 355.09 186.15 Td (3.25%) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 374.98 186.15 Td ( ) Tj ET Q q 0 0 0 rg BT 376.83 186.15 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 415.02 186.15 Td (Senior ) Tj ET Q q 0 0 0 rg BT 436.97 186.15 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 479.87 186.15 Td (Notes ) Tj ET Q q 0 0 0 rg BT 499.68 186.15 Td (due ) Tj ET Q q 0 0 0 rg BT 512.64 186.15 Td (2017 ) Tj ET Q q 0 0 0 rg BT 529.88 186.15 Td (\(the ) Tj ET Q q 0 0 0 rg BT 543.69 186.15 Td (2017 ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 176.95 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 105.93 176.95 Td (Senior ) Tj ET Q q 0 0 0 rg BT 128.10 176.95 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 171.24 176.95 Td (Notes\). ) Tj ET Q q 0 0 0 rg BT 199.18 176.95 Td ( ) Tj ET Q q 0 0 0 rg BT 201.10 176.95 Td (The ) Tj ET Q q 0 0 0 rg BT 215.15 176.95 Td (2017 ) Tj ET Q q 0 0 0 rg BT 232.62 176.95 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 271.05 176.95 Td (Senior ) Tj ET Q q 0 0 0 rg BT 293.22 176.95 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 336.36 176.95 Td (Notes ) Tj ET Q q 0 0 0 rg BT 356.39 176.95 Td (were ) Tj ET Q q 0 0 0 rg BT 373.43 176.95 Td (scheduled ) Tj ET Q q 0 0 0 rg BT 406.29 176.95 Td (to ) Tj ET Q q 0 0 0 rg BT 414.35 176.95 Td (mature ) Tj ET Q q 0 0 0 rg BT 437.80 176.95 Td (on ) Tj ET Q q 0 0 0 rg BT 447.57 176.95 Td (September ) Tj ET Q q 0 0 0 rg BT 482.58 176.95 Td (15, ) Tj ET Q q 0 0 0 rg BT 494.27 176.95 Td (2017 ) Tj ET Q q 0 0 0 rg BT 511.75 176.95 Td (and ) Tj ET Q q 0 0 0 rg BT 524.94 176.95 Td (the ) Tj ET Q q 0 0 0 rg BT 536.42 176.95 Td (deadline ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 167.70 Td (for ) Tj ET Q q 0 0 0 rg BT 78.31 167.70 Td (holders ) Tj ET Q q 0 0 0 rg BT 102.81 167.70 Td (to ) Tj ET Q q 0 0 0 rg BT 110.63 167.70 Td (convert ) Tj ET Q q 0 0 0 rg BT 135.55 167.70 Td (the ) Tj ET Q q 0 0 0 rg BT 146.79 167.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 164.02 167.70 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 202.21 167.70 Td (Senior ) Tj ET Q q 0 0 0 rg BT 224.15 167.70 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 267.04 167.70 Td (Notes ) Tj ET Q q 0 0 0 rg BT 286.83 167.70 Td (was ) Tj ET Q q 0 0 0 rg BT 300.64 167.70 Td (September ) Tj ET Q q 0 0 0 rg BT 335.40 167.70 Td (13, ) Tj ET Q q 0 0 0 rg BT 346.86 167.70 Td (2017. ) Tj ET Q q 0 0 0 rg BT 366.02 167.70 Td ( ) Tj ET Q q 0 0 0 rg BT 367.45 167.70 Td (As ) Tj ET Q q 0 0 0 rg BT 377.83 167.70 Td (a ) Tj ET Q q 0 0 0 rg BT 383.08 167.70 Td (result ) Tj ET Q q 0 0 0 rg BT 402.02 167.70 Td (of ) Tj ET Q q 0 0 0 rg BT 410.27 167.70 Td (conversion ) Tj ET Q q 0 0 0 rg BT 445.89 167.70 Td (elections ) Tj ET Q q 0 0 0 rg BT 475.09 167.70 Td (made ) Tj ET Q q 0 0 0 rg BT 493.59 167.70 Td (by ) Tj ET Q q 0 0 0 rg BT 503.13 167.70 Td (holders ) Tj ET Q q 0 0 0 rg BT 527.63 167.70 Td (of ) Tj ET Q q 0 0 0 rg BT 535.87 167.70 Td (the ) Tj ET Q q 0 0 0 rg BT 547.11 167.70 Td (2017 ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 158.45 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 105.89 158.45 Td (Senior ) Tj ET Q q 0 0 0 rg BT 128.04 158.45 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 171.14 158.45 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 193.07 158.45 Td (all ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 202.81 158.45 Td ($57.5 ) Tj ET Q q 0 0 0 rg BT 222.18 158.45 Td (million) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 244.42 158.45 Td ( ) Tj ET Q q 0 0 0 rg BT 246.46 158.45 Td (in ) Tj ET Q q 0 0 0 rg BT 254.49 158.45 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 286.46 158.45 Td (principal ) Tj ET Q q 0 0 0 rg BT 315.87 158.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 341.00 158.45 Td (of ) Tj ET Q q 0 0 0 rg BT 349.46 158.45 Td (the ) Tj ET Q q 0 0 0 rg BT 360.91 158.45 Td (2017 ) Tj ET Q q 0 0 0 rg BT 378.35 158.45 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 416.74 158.45 Td (Senior ) Tj ET Q q 0 0 0 rg BT 438.89 158.45 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 481.99 158.45 Td (Notes ) Tj ET Q q 0 0 0 rg BT 501.99 158.45 Td (were ) Tj ET Q q 0 0 0 rg BT 519.00 158.45 Td (converted ) Tj ET Q q 0 0 0 rg BT 551.39 158.45 Td (and ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 149.20 Td (settled ) Tj ET Q q 0 0 0 rg BT 89.91 149.20 Td (through ) Tj ET Q q 0 0 0 rg BT 116.17 149.20 Td (the ) Tj ET Q q 0 0 0 rg BT 127.89 149.20 Td (issuance ) Tj ET Q q 0 0 0 rg BT 156.28 149.20 Td (of ) Tj ET Q q 0 0 0 rg BT 165.00 149.20 Td (our ) Tj ET Q q 0 0 0 rg BT 177.58 149.20 Td (common ) Tj ET Q q 0 0 0 rg BT 206.83 149.20 Td (shares. ) Tj ET Q q 0 0 0 rg BT 230.31 149.20 Td ( ) Tj ET Q q 0 0 0 rg BT 232.62 149.20 Td (In ) Tj ET Q q 0 0 0 rg BT 241.34 149.20 Td (total, ) Tj ET Q q 0 0 0 rg BT 259.26 149.20 Td (we ) Tj ET Q q 0 0 0 rg BT 270.55 149.20 Td (issued ) Tj ET Q q 0 0 0 rg BT 292.11 149.20 Td (approximately ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 338.89 149.20 Td (2.4 ) Tj ET Q q 0 0 0 rg BT 350.83 149.20 Td (million) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 373.07 149.20 Td ( ) Tj ET Q q 0 0 0 rg BT 375.38 149.20 Td (common ) Tj ET Q q 0 0 0 rg BT 404.64 149.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 426.19 149.20 Td (\(at ) Tj ET Q q 0 0 0 rg BT 436.62 149.20 Td (a ) Tj ET Q q 0 0 0 rg BT 442.35 149.20 Td (conversion ) Tj ET Q q 0 0 0 rg BT 478.44 149.20 Td (price ) Tj ET Q q 0 0 0 rg BT 496.14 149.20 Td (per ) Tj ET Q q 0 0 0 rg BT 508.28 149.20 Td (common ) Tj ET Q q 0 0 0 rg BT 537.54 149.20 Td (share ) Tj ET Q q 0 0 0 rg BT 556.09 149.20 Td (of ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 139.95 Td ($23.80) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 88.68 139.95 Td (\).) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 49.50 127.75 Td (\(c\) ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 127.75 Td (On ) Tj ET Q q 0 0 0 rg BT 78.43 127.75 Td (March ) Tj ET Q q 0 0 0 rg BT 100.04 127.75 Td (1, ) Tj ET Q q 0 0 0 rg BT 107.34 127.75 Td (2013, ) Tj ET Q q 0 0 0 rg BT 126.18 127.75 Td (the ) Tj ET Q q 0 0 0 rg BT 137.11 127.75 Td (Company ) Tj ET Q q 0 0 0 rg BT 168.57 127.75 Td (issued ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 189.33 127.75 Td ($86.3 ) Tj ET Q q 0 0 0 rg BT 208.18 127.75 Td (million) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 230.42 127.75 Td ( ) Tj ET Q q 0 0 0 rg BT 231.94 127.75 Td (in ) Tj ET Q q 0 0 0 rg BT 239.45 127.75 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 270.89 127.75 Td (principal ) Tj ET Q q 0 0 0 rg BT 299.78 127.75 Td (amount ) Tj ET Q q 0 0 0 rg BT 324.39 127.75 Td (of ) Tj ET Q q 0 0 0 rg BT 332.32 127.75 Td (2018 ) Tj ET Q q 0 0 0 rg BT 349.24 127.75 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 387.11 127.75 Td (Senior ) Tj ET Q q 0 0 0 rg BT 408.74 127.75 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 451.31 127.75 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 472.72 127.75 Td ( ) Tj ET Q q 0 0 0 rg BT 474.13 127.75 Td (The ) Tj ET Q q 0 0 0 rg BT 487.62 127.75 Td (2018 ) Tj ET Q q 0 0 0 rg BT 504.54 127.75 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 542.41 127.75 Td (Senior ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 118.50 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 110.92 118.50 Td (Notes ) Tj ET Q q 0 0 0 rg BT 131.25 118.50 Td (were ) Tj ET Q q 0 0 0 rg BT 148.57 118.50 Td (scheduled ) Tj ET Q q 0 0 0 rg BT 181.72 118.50 Td (to ) Tj ET Q q 0 0 0 rg BT 190.07 118.50 Td (mature ) Tj ET Q q 0 0 0 rg BT 213.80 118.50 Td (on ) Tj ET Q q 0 0 0 rg BT 223.86 118.50 Td (March ) Tj ET Q q 0 0 0 rg BT 246.32 118.50 Td (1, ) Tj ET Q q 0 0 0 rg BT 254.46 118.50 Td (2018 ) Tj ET Q q 0 0 0 rg BT 272.22 118.50 Td (and ) Tj ET Q q 0 0 0 rg BT 285.70 118.50 Td (the ) Tj ET Q q 0 0 0 rg BT 297.46 118.50 Td (deadline ) Tj ET Q q 0 0 0 rg BT 325.90 118.50 Td (for ) Tj ET Q q 0 0 0 rg BT 337.24 118.50 Td (holders ) Tj ET Q q 0 0 0 rg BT 362.27 118.50 Td (to ) Tj ET Q q 0 0 0 rg BT 370.62 118.50 Td (convert ) Tj ET Q q 0 0 0 rg BT 396.07 118.50 Td (the ) Tj ET Q q 0 0 0 rg BT 407.84 118.50 Td (2018 ) Tj ET Q q 0 0 0 rg BT 425.60 118.50 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 464.31 118.50 Td (Senior ) Tj ET Q q 0 0 0 rg BT 486.78 118.50 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 530.20 118.50 Td (Notes ) Tj ET Q q 0 0 0 rg BT 550.52 118.50 Td (was ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 109.25 Td (February ) Tj ET Q q 0 0 0 rg BT 97.36 109.25 Td (27, ) Tj ET Q q 0 0 0 rg BT 109.05 109.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 128.44 109.25 Td ( ) Tj ET Q q 0 0 0 rg BT 130.05 109.25 Td (As ) Tj ET Q q 0 0 0 rg BT 140.67 109.25 Td (a ) Tj ET Q q 0 0 0 rg BT 146.15 109.25 Td (result ) Tj ET Q q 0 0 0 rg BT 165.32 109.25 Td (of ) Tj ET Q q 0 0 0 rg BT 173.80 109.25 Td (conversion ) Tj ET Q q 0 0 0 rg BT 209.65 109.25 Td (elections ) Tj ET Q q 0 0 0 rg BT 239.08 109.25 Td (made ) Tj ET Q q 0 0 0 rg BT 257.81 109.25 Td (by ) Tj ET Q q 0 0 0 rg BT 267.58 109.25 Td (holders ) Tj ET Q q 0 0 0 rg BT 292.31 109.25 Td (of ) Tj ET Q q 0 0 0 rg BT 300.79 109.25 Td (the ) Tj ET Q q 0 0 0 rg BT 312.26 109.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 329.72 109.25 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 368.14 109.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 390.31 109.25 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 433.43 109.25 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 455.38 109.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 466.43 109.25 Td (approximately ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 512.96 109.25 Td ($20.3million) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 554.46 109.25 Td ( ) Tj ET Q q 0 0 0 rg BT 556.52 109.25 Td (in ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 100.00 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 99.50 100.00 Td (principal ) Tj ET Q q 0 0 0 rg BT 128.94 100.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 154.11 100.00 Td (of ) Tj ET Q q 0 0 0 rg BT 162.60 100.00 Td (the ) Tj ET Q q 0 0 0 rg BT 174.08 100.00 Td (2018 ) Tj ET Q q 0 0 0 rg BT 191.55 100.00 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 229.98 100.00 Td (Senior ) Tj ET Q q 0 0 0 rg BT 252.16 100.00 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 295.29 100.00 Td (Notes ) Tj ET Q q 0 0 0 rg BT 315.33 100.00 Td (were ) Tj ET Q q 0 0 0 rg BT 332.36 100.00 Td (converted ) Tj ET Q q 0 0 0 rg BT 364.79 100.00 Td (and ) Tj ET Q q 0 0 0 rg BT 377.98 100.00 Td (settled ) Tj ET Q q 0 0 0 rg BT 400.16 100.00 Td (through ) Tj ET Q q 0 0 0 rg BT 426.19 100.00 Td (the ) Tj ET Q q 0 0 0 rg BT 437.67 100.00 Td (issuance ) Tj ET Q q 0 0 0 rg BT 465.82 100.00 Td (of ) Tj ET Q q 0 0 0 rg BT 474.31 100.00 Td (approximately ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 520.86 100.00 Td (0.629 ) Tj ET Q q 0 0 0 rg BT 540.26 100.00 Td (million) Tj ET Q BT /F1 7.70 Tf ET BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 90.75 Td (of ) Tj ET Q q 0 0 0 rg BT 75.61 90.75 Td (our ) Tj ET Q q 0 0 0 rg BT 87.56 90.75 Td (common ) Tj ET Q q 0 0 0 rg BT 116.20 90.75 Td (shares ) Tj ET Q q 0 0 0 rg BT 137.14 90.75 Td (\(at ) Tj ET Q q 0 0 0 rg BT 146.95 90.75 Td (a ) Tj ET Q q 0 0 0 rg BT 152.06 90.75 Td (conversion ) Tj ET Q q 0 0 0 rg BT 187.54 90.75 Td (price ) Tj ET Q q 0 0 0 rg BT 204.62 90.75 Td (per ) Tj ET Q q 0 0 0 rg BT 216.15 90.75 Td (common ) Tj ET Q q 0 0 0 rg BT 244.79 90.75 Td (share ) Tj ET Q q 0 0 0 rg BT 262.73 90.75 Td (of ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 270.83 90.75 Td ($32.31) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 292.01 90.75 Td (\) ) Tj ET Q q 0 0 0 rg BT 296.27 90.75 Td (and ) Tj ET Q q 0 0 0 rg BT 309.08 90.75 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 319.75 90.75 Td (the ) Tj ET Q q 0 0 0 rg BT 330.85 90.75 Td (Company ) Tj ET Q q 0 0 0 rg BT 362.49 90.75 Td (repaid ) Tj ET Q q 0 0 0 rg BT 383.42 90.75 Td (in ) Tj ET Q q 0 0 0 rg BT 391.10 90.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 406.47 90.75 Td (approximately ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 452.64 90.75 Td ($65.9million) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 494.14 90.75 Td ( ) Tj ET Q q 0 0 0 rg BT 495.83 90.75 Td (in ) Tj ET Q q 0 0 0 rg BT 503.51 90.75 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 535.13 90.75 Td (principal ) Tj ET Q BT /F1 7.70 Tf ET q 0 0 0 rg BT 67.50 81.55 Td (amount ) Tj ET Q q 0 0 0 rg BT 92.52 81.55 Td (of ) Tj ET Q q 0 0 0 rg BT 100.86 81.55 Td (the ) Tj ET Q q 0 0 0 rg BT 112.19 81.55 Td (2018 ) Tj ET Q q 0 0 0 rg BT 129.52 81.55 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 167.80 81.55 Td (Senor ) Tj ET Q q 0 0 0 rg BT 187.69 81.55 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 230.67 81.55 Td (Notes ) Tj ET Q q 0 0 0 rg BT 250.56 81.55 Td (at ) Tj ET Q q 0 0 0 rg BT 258.05 81.55 Td (maturity) Tj ET Q q 0 0 0 rg BT 283.63 81.55 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 61.55 Td (For ) Tj ET Q q 0 0 0 rg BT 65.72 61.55 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.26 61.55 Td (six ) Tj ET Q q 0 0 0 rg BT 94.26 61.55 Td (months ) Tj ET Q q 0 0 0 rg BT 126.03 61.55 Td (ended ) Tj ET Q q 0 0 0 rg BT 152.23 61.55 Td (June ) Tj ET Q q 0 0 0 rg BT 172.89 61.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 187.71 61.55 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.71 61.55 Td ( ) Tj ET Q q 0 0 0 rg BT 210.04 61.55 Td (and ) Tj ET Q q 0 0 0 rg BT 226.80 61.55 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.35 61.55 Td (three ) Tj ET Q q 0 0 0 rg BT 263.66 61.55 Td (and ) Tj ET Q q 0 0 0 rg BT 280.42 61.55 Td (six ) Tj ET Q q 0 0 0 rg BT 294.42 61.55 Td (months ) Tj ET Q q 0 0 0 rg BT 326.19 61.55 Td (ended ) Tj ET Q q 0 0 0 rg BT 352.39 61.55 Td (June ) Tj ET Q q 0 0 0 rg BT 373.05 61.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 387.87 61.55 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.87 61.55 Td (, ) Tj ET Q q 0 0 0 rg BT 412.70 61.55 Td (the ) Tj ET Q q 0 0 0 rg BT 427.24 61.55 Td (ef) Tj ET Q q 0 0 0 rg BT 434.83 61.55 Td (fect ) Tj ET Q q 0 0 0 rg BT 452.14 61.55 Td (of ) Tj ET Q q 0 0 0 rg BT 462.80 61.55 Td (our ) Tj ET Q q 0 0 0 rg BT 478.45 61.55 Td (convertible ) Tj ET Q q 0 0 0 rg BT 525.76 61.55 Td (debt ) Tj ET Q q 0 0 0 rg BT 545.30 61.55 Td (then ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 49.55 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 98.67 49.55 Td (was ) Tj ET Q q 0 0 0 rg BT 116.72 49.55 Td (included ) Tj ET Q q 0 0 0 rg BT 153.65 49.55 Td (in ) Tj ET Q q 0 0 0 rg BT 163.93 49.55 Td (the ) Tj ET Q q 0 0 0 rg BT 178.65 49.55 Td (diluted ) Tj ET Q q 0 0 0 rg BT 208.92 49.55 Td (earnings ) Tj ET Q q 0 0 0 rg BT 245.30 49.55 Td (per ) Tj ET Q q 0 0 0 rg BT 260.56 49.55 Td (share ) Tj ET Q q 0 0 0 rg BT 284.16 49.55 Td (calculations. ) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (NOTE 10. Income ) Tj ET Q q 0 0 0 rg BT 129.32 740.25 Td (T) Tj ET Q q 0 0 0 rg BT 135.07 740.25 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (During ) Tj ET Q q 0 0 0 rg BT 80.53 718.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.45 718.25 Td (three ) Tj ET Q q 0 0 0 rg BT 118.14 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 135.28 718.25 Td (six ) Tj ET Q q 0 0 0 rg BT 149.65 718.25 Td (months ) Tj ET Q q 0 0 0 rg BT 181.80 718.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 208.38 718.25 Td (June ) Tj ET Q q 0 0 0 rg BT 229.41 718.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 244.61 718.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.61 718.25 Td (, ) Tj ET Q q 0 0 0 rg BT 269.81 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 284.73 718.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 326.32 718.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 364.00 718.25 Td (a ) Tj ET Q q 0 0 0 rg BT 371.14 718.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 386.06 718.25 Td (provision ) Tj ET Q q 0 0 0 rg BT 426.54 718.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.57 718.25 Td ($5.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.46 718.25 Td ( ) Tj ET Q q 0 0 0 rg BT 489.16 718.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.30 718.25 Td ($1) Tj ET Q q 0 0 0 rg BT 515.93 718.25 Td (1.4 ) Tj ET Q q 0 0 0 rg BT 531.13 718.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.02 718.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.16 706.25 Td (, ) Tj ET Q q 0 0 0 rg BT 102.02 706.25 Td (which ) Tj ET Q q 0 0 0 rg BT 128.82 706.25 Td (reflects ) Tj ET Q q 0 0 0 rg BT 160.61 706.25 Td (income ) Tj ET Q q 0 0 0 rg BT 192.40 706.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 206.98 706.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 241.55 706.25 Td (related ) Tj ET Q q 0 0 0 rg BT 271.11 706.25 Td (to ) Tj ET Q q 0 0 0 rg BT 281.25 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 295.83 706.25 Td (periods) Tj ET Q q 0 0 0 rg BT 327.85 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 330.21 706.25 Td (income ) Tj ET Q q 0 0 0 rg BT 362.01 706.25 Td (before ) Tj ET Q q 0 0 0 rg BT 389.91 706.25 Td (income ) Tj ET Q q 0 0 0 rg BT 421.70 706.25 Td (taxes. ) Tj ET Q q 0 0 0 rg BT 447.11 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 449.30 706.25 Td (The ) Tj ET Q q 0 0 0 rg BT 467.21 706.25 Td (ef) Tj ET Q q 0 0 0 rg BT 474.79 706.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 504.36 706.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 518.93 706.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 536.28 706.25 Td (for ) Tj ET Q q 0 0 0 rg BT 550.30 706.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (three ) Tj ET Q q 0 0 0 rg BT 72.48 694.25 Td (and ) Tj ET Q q 0 0 0 rg BT 89.92 694.25 Td (six ) Tj ET Q q 0 0 0 rg BT 104.58 694.25 Td (months ) Tj ET Q q 0 0 0 rg BT 137.03 694.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 163.90 694.25 Td (June ) Tj ET Q q 0 0 0 rg BT 185.23 694.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 200.73 694.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.73 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 223.73 694.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.27 694.25 Td (16.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.10 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 271.10 694.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.54 694.25 Td (19.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.37 694.25 Td (, ) Tj ET Q q 0 0 0 rg BT 319.86 694.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 367.53 694.25 Td (. ) Tj ET Q q 0 0 0 rg BT 373.02 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 376.02 694.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 394.57 694.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 417.57 694.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 432.78 694.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 454.65 694.25 Td (for ) Tj ET Q q 0 0 0 rg BT 469.31 694.25 Td (these ) Tj ET Q q 0 0 0 rg BT 492.85 694.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 525.29 694.25 Td (primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (reflect ) Tj ET Q q 0 0 0 rg BT 77.30 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 91.79 682.25 Td (lower ) Tj ET Q q 0 0 0 rg BT 116.83 682.25 Td (corporate ) Tj ET Q q 0 0 0 rg BT 156.86 682.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 171.35 682.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 188.61 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 199.21 682.25 Td (21% ) Tj ET Q q 0 0 0 rg BT 219.81 682.25 Td (as ) Tj ET Q q 0 0 0 rg BT 230.41 682.25 Td (a ) Tj ET Q q 0 0 0 rg BT 237.12 682.25 Td (result ) Tj ET Q q 0 0 0 rg BT 261.61 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 272.21 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 286.54 682.25 Td (T) Tj ET Q q 0 0 0 rg BT 291.95 682.25 Td (ax ) Tj ET Q q 0 0 0 rg BT 303.16 682.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 319.87 682.25 Td (when ) Tj ET Q q 0 0 0 rg BT 343.80 682.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 385.49 682.25 Td (to ) Tj ET Q q 0 0 0 rg BT 395.54 682.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 417.82 682.25 Td (federal ) Tj ET Q q 0 0 0 rg BT 447.84 682.25 Td (rates. ) Tj ET Q q 0 0 0 rg BT 471.49 682.25 Td ( ) Tj ET Q q 0 0 0 rg BT 473.76 682.25 Td (In ) Tj ET Q q 0 0 0 rg BT 484.37 682.25 Td (addition, ) Tj ET Q q 0 0 0 rg BT 521.91 682.25 Td (during ) Tj ET Q q 0 0 0 rg BT 550.29 682.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.25 Td (three ) Tj ET Q q 0 0 0 rg BT 71.58 670.25 Td (and ) Tj ET Q q 0 0 0 rg BT 88.10 670.25 Td (six ) Tj ET Q q 0 0 0 rg BT 101.86 670.25 Td (months ) Tj ET Q q 0 0 0 rg BT 133.40 670.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 159.37 670.25 Td (June ) Tj ET Q q 0 0 0 rg BT 179.79 670.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 194.38 670.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.38 670.25 Td (, ) Tj ET Q q 0 0 0 rg BT 218.97 670.25 Td (we ) Tj ET Q q 0 0 0 rg BT 232.72 670.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 269.78 670.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.31 670.25 Td ($3.0 ) Tj ET Q q 0 0 0 rg BT 295.90 670.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.79 670.25 Td ( ) Tj ET Q q 0 0 0 rg BT 326.88 670.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 341.19 670.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 371.04 670.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 410.34 670.25 Td (related ) Tj ET Q q 0 0 0 rg BT 439.64 670.25 Td (to ) Tj ET Q q 0 0 0 rg BT 449.50 670.25 Td (the ) Tj ET Q q 0 0 0 rg BT 463.81 670.25 Td (retroactive ) Tj ET Q q 0 0 0 rg BT 508.65 670.25 Td (reinstatement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (of ) Tj ET Q q 0 0 0 rg BT 59.98 658.25 Td (ener) Tj ET Q q 0 0 0 rg BT 77.00 658.25 Td (gy ) Tj ET Q q 0 0 0 rg BT 89.15 658.25 Td (ef) Tj ET Q q 0 0 0 rg BT 96.74 658.25 Td (ficient ) Tj ET Q q 0 0 0 rg BT 124.42 658.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 152.68 658.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 167.04 658.25 Td (credits ) Tj ET Q q 0 0 0 rg BT 195.84 658.25 Td (to ) Tj ET Q q 0 0 0 rg BT 205.77 658.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 227.91 658.25 Td (for ) Tj ET Q q 0 0 0 rg BT 241.72 658.25 Td (which ) Tj ET Q q 0 0 0 rg BT 268.30 658.25 Td (we ) Tj ET Q q 0 0 0 rg BT 282.11 658.25 Td (obtained ) Tj ET Q q 0 0 0 rg BT 318.69 658.25 Td (certifications ) Tj ET Q q 0 0 0 rg BT 373.03 658.25 Td (in ) Tj ET Q q 0 0 0 rg BT 382.96 658.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 407.60 658.25 Td ( ) Tj ET Q q 0 0 0 rg BT 409.59 658.25 Td (The ) Tj ET Q q 0 0 0 rg BT 427.29 658.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 468.32 658.25 Td (is ) Tj ET Q q 0 0 0 rg BT 477.14 658.25 Td (still ) Tj ET Q q 0 0 0 rg BT 494.29 658.25 Td (analyzing ) Tj ET Q q 0 0 0 rg BT 535.30 658.25 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.25 Td (aspects ) Tj ET Q q 0 0 0 rg BT 80.72 646.25 Td (of ) Tj ET Q q 0 0 0 rg BT 91.40 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 105.80 646.25 Td (T) Tj ET Q q 0 0 0 rg BT 111.21 646.25 Td (ax ) Tj ET Q q 0 0 0 rg BT 122.47 646.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 139.26 646.25 Td (and ) Tj ET Q q 0 0 0 rg BT 156.05 646.25 Td (expects ) Tj ET Q q 0 0 0 rg BT 188.38 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 202.94 646.25 Td (final ) Tj ET Q q 0 0 0 rg BT 223.62 646.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 253.18 646.25 Td (to ) Tj ET Q q 0 0 0 rg BT 263.30 646.25 Td (be ) Tj ET Q q 0 0 0 rg BT 275.09 646.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 322.42 646.25 Td (in ) Tj ET Q q 0 0 0 rg BT 332.54 646.25 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 382.10 646.25 Td (with ) Tj ET Q q 0 0 0 rg BT 402.23 646.25 Td (its ) Tj ET Q q 0 0 0 rg BT 414.02 646.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 428.59 646.25 Td (return ) Tj ET Q q 0 0 0 rg BT 454.81 646.25 Td (filings ) Tj ET Q q 0 0 0 rg BT 482.72 646.25 Td (in ) Tj ET Q q 0 0 0 rg BT 492.84 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 507.41 646.25 Td (fourth ) Tj ET Q q 0 0 0 rg BT 534.19 646.25 Td (quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.48 634.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 87.63 634.25 Td ( ) Tj ET Q q 0 0 0 rg BT 91.29 634.25 Td (During ) Tj ET Q q 0 0 0 rg BT 123.27 634.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.14 634.25 Td (three ) Tj ET Q q 0 0 0 rg BT 162.78 634.25 Td (and ) Tj ET Q q 0 0 0 rg BT 180.87 634.25 Td (six ) Tj ET Q q 0 0 0 rg BT 196.19 634.25 Td (months ) Tj ET Q q 0 0 0 rg BT 229.29 634.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 256.82 634.25 Td (June ) Tj ET Q q 0 0 0 rg BT 278.80 634.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 294.95 634.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.95 634.25 Td (, ) Tj ET Q q 0 0 0 rg BT 321.11 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 336.98 634.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 379.51 634.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 418.14 634.25 Td (a ) Tj ET Q q 0 0 0 rg BT 426.23 634.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 442.10 634.25 Td (provision ) Tj ET Q q 0 0 0 rg BT 483.53 634.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.52 634.25 Td ($8.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.41 634.25 Td ( ) Tj ET Q q 0 0 0 rg BT 548.06 634.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.25 Td ($17.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 622.25 Td (, ) Tj ET Q q 0 0 0 rg BT 108.69 622.25 Td (which ) Tj ET Q q 0 0 0 rg BT 135.93 622.25 Td (reflects ) Tj ET Q q 0 0 0 rg BT 168.16 622.25 Td (income ) Tj ET Q q 0 0 0 rg BT 200.39 622.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 215.41 622.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 250.42 622.25 Td (related ) Tj ET Q q 0 0 0 rg BT 280.43 622.25 Td (to ) Tj ET Q q 0 0 0 rg BT 291.01 622.25 Td (the ) Tj ET Q q 0 0 0 rg BT 306.02 622.25 Td (periods) Tj ET Q q 0 0 0 rg BT 338.05 622.25 Td ( ) Tj ET Q q 0 0 0 rg BT 340.85 622.25 Td (income ) Tj ET Q q 0 0 0 rg BT 373.09 622.25 Td (before ) Tj ET Q q 0 0 0 rg BT 401.43 622.25 Td (income ) Tj ET Q q 0 0 0 rg BT 433.66 622.25 Td (taxes. ) Tj ET Q q 0 0 0 rg BT 459.51 622.25 Td ( ) Tj ET Q q 0 0 0 rg BT 462.11 622.25 Td (The ) Tj ET Q q 0 0 0 rg BT 480.46 622.25 Td (ef) Tj ET Q q 0 0 0 rg BT 488.05 622.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 518.05 622.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 533.07 622.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 550.86 622.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.20 610.25 Td (three ) Tj ET Q q 0 0 0 rg BT 86.67 610.25 Td (and ) Tj ET Q q 0 0 0 rg BT 103.59 610.25 Td (six ) Tj ET Q q 0 0 0 rg BT 117.74 610.25 Td (months ) Tj ET Q q 0 0 0 rg BT 149.67 610.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 176.03 610.25 Td (June ) Tj ET Q q 0 0 0 rg BT 196.84 610.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 211.82 610.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.82 610.25 Td ( ) Tj ET Q q 0 0 0 rg BT 234.30 610.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.34 610.25 Td (32.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.17 610.25 Td ( ) Tj ET Q q 0 0 0 rg BT 280.65 610.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.57 610.25 Td (34.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.40 610.25 Td (, ) Tj ET Q q 0 0 0 rg BT 328.38 610.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 376.04 610.25 Td (, ) Tj ET Q q 0 0 0 rg BT 381.02 610.25 Td (which ) Tj ET Q q 0 0 0 rg BT 407.94 610.25 Td (included ) Tj ET Q q 0 0 0 rg BT 444.86 610.25 Td (the ) Tj ET Q q 0 0 0 rg BT 459.56 610.25 Td (former ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.25 610.25 Td (35%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.58 610.25 Td ( ) Tj ET Q q 0 0 0 rg BT 510.06 610.25 Td (corporate ) Tj ET Q q 0 0 0 rg BT 550.30 610.25 Td (tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 66.99 598.25 Td (and ) Tj ET Q q 0 0 0 rg BT 83.92 598.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 98.64 598.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 133.35 598.25 Td (related ) Tj ET Q q 0 0 0 rg BT 163.05 598.25 Td (to ) Tj ET Q q 0 0 0 rg BT 173.33 598.25 Td (the ) Tj ET Q q 0 0 0 rg BT 188.04 598.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 226.08 598.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 240.79 598.25 Td (benefits ) Tj ET Q q 0 0 0 rg BT 274.95 598.25 Td (for ) Tj ET Q q 0 0 0 rg BT 289.11 598.25 Td (the ) Tj ET Q q 0 0 0 rg BT 303.83 598.25 Td (domestic ) Tj ET Q q 0 0 0 rg BT 342.43 598.25 Td (production ) Tj ET Q q 0 0 0 rg BT 388.25 598.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 426.85 598.25 Td (deduction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 576.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.48 576.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.79 576.25 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.66 576.25 Td ($4.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.55 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 176.98 576.25 Td (of ) Tj ET Q q 0 0 0 rg BT 187.74 576.25 Td (state ) Tj ET Q q 0 0 0 rg BT 208.49 576.25 Td (NOL) Tj ET Q q 0 0 0 rg BT 228.67 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 231.10 576.25 Td (carryforwards, ) Tj ET Q q 0 0 0 rg BT 292.11 576.25 Td (net ) Tj ET Q q 0 0 0 rg BT 306.76 576.25 Td (of ) Tj ET Q q 0 0 0 rg BT 317.52 576.25 Td (the ) Tj ET Q q 0 0 0 rg BT 332.16 576.25 Td (federal ) Tj ET Q q 0 0 0 rg BT 362.35 576.25 Td (benefit, ) Tj ET Q q 0 0 0 rg BT 395.04 576.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.69 576.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 440.44 576.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.44 576.25 Td (. ) Tj ET Q q 0 0 0 rg BT 465.37 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 467.80 576.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 485.78 576.25 Td (state ) Tj ET Q q 0 0 0 rg BT 506.54 576.25 Td (NOLs ) Tj ET Q q 0 0 0 rg BT 533.41 576.25 Td (may ) Tj ET Q q 0 0 0 rg BT 553.06 576.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 564.25 Td (carried ) Tj ET Q q 0 0 0 rg BT 79.99 564.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 114.38 564.25 Td (from ) Tj ET Q q 0 0 0 rg BT 136.56 564.25 Td (one ) Tj ET Q q 0 0 0 rg BT 153.73 564.25 Td (to ) Tj ET Q q 0 0 0 rg BT 164.25 564.25 Td (15 ) Tj ET Q q 0 0 0 rg BT 176.99 564.25 Td (years, ) Tj ET Q q 0 0 0 rg BT 203.33 564.25 Td (depending ) Tj ET Q q 0 0 0 rg BT 247.72 564.25 Td (on ) Tj ET Q q 0 0 0 rg BT 260.46 564.25 Td (the ) Tj ET Q q 0 0 0 rg BT 275.41 564.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 290.37 564.25 Td (jurisdiction, ) Tj ET Q q 0 0 0 rg BT 341.16 564.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.67 564.25 Td ($1.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.57 564.25 Td ( ) Tj ET Q q 0 0 0 rg BT 413.30 564.25 Td (expiring ) Tj ET Q q 0 0 0 rg BT 449.37 564.25 Td (between ) Tj ET Q q 0 0 0 rg BT 485.42 564.25 Td (2022 ) Tj ET Q q 0 0 0 rg BT 508.16 564.25 Td (and ) Tj ET Q q 0 0 0 rg BT 525.34 564.25 Td (2027 ) Tj ET Q q 0 0 0 rg BT 548.08 564.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 552.25 Td ($2.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 552.25 Td ( ) Tj ET Q q 0 0 0 rg BT 100.89 552.25 Td (expiring ) Tj ET Q q 0 0 0 rg BT 136.72 552.25 Td (between ) Tj ET Q q 0 0 0 rg BT 172.53 552.25 Td (2028 ) Tj ET Q q 0 0 0 rg BT 195.03 552.25 Td (and ) Tj ET Q q 0 0 0 rg BT 211.97 552.25 Td (2032, ) Tj ET Q q 0 0 0 rg BT 236.97 552.25 Td (absent ) Tj ET Q q 0 0 0 rg BT 265.02 552.25 Td (suf) Tj ET Q q 0 0 0 rg BT 277.06 552.25 Td (ficient ) Tj ET Q q 0 0 0 rg BT 305.10 552.25 Td (state ) Tj ET Q q 0 0 0 rg BT 325.93 552.25 Td (taxable ) Tj ET Q q 0 0 0 rg BT 357.30 552.25 Td (income.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 530.25 Td (NOTE 1) Tj ET Q q 0 0 0 rg BT 84.79 530.25 Td (1. Business Segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.37 508.25 Td (Company) Tj ET Q q 0 0 0 rg BT 109.04 508.25 Td (s ) Tj ET Q q 0 0 0 rg BT 115.25 508.25 Td (chief ) Tj ET Q q 0 0 0 rg BT 137.57 508.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 177.66 508.25 Td (decision ) Tj ET Q q 0 0 0 rg BT 213.31 508.25 Td (makers ) Tj ET Q q 0 0 0 rg BT 244.51 508.25 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 280.15 508.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.69 508.25 Td (Company) Tj ET Q q 0 0 0 rg BT 336.35 508.25 Td (s ) Tj ET Q q 0 0 0 rg BT 342.57 508.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 395.42 508.25 Td (in ) Tj ET Q q 0 0 0 rg BT 405.52 508.25 Td (various ) Tj ET Q q 0 0 0 rg BT 437.29 508.25 Td (ways, ) Tj ET Q q 0 0 0 rg BT 462.66 508.25 Td (including: ) Tj ET Q q 0 0 0 rg BT 505.54 508.25 Td ( ) Tj ET Q q 0 0 0 rg BT 507.87 508.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 521.85 508.25 Td (the ) Tj ET Q q 0 0 0 rg BT 536.40 508.25 Td (results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.60 496.25 Td (our ) Tj ET Q q 0 0 0 rg BT 76.70 496.25 Td (16 ) Tj ET Q q 0 0 0 rg BT 89.46 496.25 Td (individual ) Tj ET Q q 0 0 0 rg BT 132.78 496.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 191.10 496.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 231.63 496.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 271.62 496.25 Td (and ) Tj ET Q q 0 0 0 rg BT 288.82 496.25 Td (the ) Tj ET Q q 0 0 0 rg BT 303.81 496.25 Td (results ) Tj ET Q q 0 0 0 rg BT 332.68 496.25 Td (of ) Tj ET Q q 0 0 0 rg BT 343.78 496.25 Td (our ) Tj ET Q q 0 0 0 rg BT 359.88 496.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 397.63 496.25 Td (services ) Tj ET Q q 0 0 0 rg BT 432.60 496.25 Td (operations; ) Tj ET Q q 0 0 0 rg BT 479.80 496.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 494.23 496.25 Td (the ) Tj ET Q q 0 0 0 rg BT 509.21 496.25 Td (results ) Tj ET Q q 0 0 0 rg BT 538.09 496.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.19 496.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 484.25 Td (three ) Tj ET Q q 0 0 0 rg BT 71.99 484.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 130.04 484.25 Td (reportable ) Tj ET Q q 0 0 0 rg BT 173.07 484.25 Td (segments; ) Tj ET Q q 0 0 0 rg BT 215.56 484.25 Td (and ) Tj ET Q q 0 0 0 rg BT 232.50 484.25 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 246.66 484.25 Td (our ) Tj ET Q q 0 0 0 rg BT 262.49 484.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 315.54 484.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 353.02 484.25 Td (results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.70 462.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 108.53 462.25 Td (with ) Tj ET Q q 0 0 0 rg BT 128.54 462.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 150.86 462.25 Td (280, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 171.23 462.25 Td (Segment ) Tj ET Q q 0 0 0 rg BT 207.98 462.25 Td (Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.97 462.25 Td ( ) Tj ET Q q 0 0 0 rg BT 250.84 462.25 Td (\(ASC ) Tj ET Q q 0 0 0 rg BT 280.93 462.25 Td (280\), ) Tj ET Q q 0 0 0 rg BT 309.07 462.25 Td (we ) Tj ET Q q 0 0 0 rg BT 323.60 462.25 Td (have ) Tj ET Q q 0 0 0 rg BT 345.34 462.25 Td (identified ) Tj ET Q q 0 0 0 rg BT 386.53 462.25 Td (each ) Tj ET Q q 0 0 0 rg BT 407.72 462.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 466.14 462.25 Td (division ) Tj ET Q q 0 0 0 rg BT 501.23 462.25 Td (as ) Tj ET Q q 0 0 0 rg BT 512.43 462.25 Td (an ) Tj ET Q q 0 0 0 rg BT 524.74 462.25 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.25 Td (segment ) Tj ET Q q 0 0 0 rg BT 85.70 450.25 Td (as ) Tj ET Q q 0 0 0 rg BT 96.91 450.25 Td (each ) Tj ET Q q 0 0 0 rg BT 118.10 450.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 176.52 450.25 Td (division ) Tj ET Q q 0 0 0 rg BT 211.62 450.25 Td (engages ) Tj ET Q q 0 0 0 rg BT 246.71 450.25 Td (in ) Tj ET Q q 0 0 0 rg BT 257.36 450.25 Td (business ) Tj ET Q q 0 0 0 rg BT 294.13 450.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 333.10 450.25 Td (from ) Tj ET Q q 0 0 0 rg BT 355.41 450.25 Td (which ) Tj ET Q q 0 0 0 rg BT 382.73 450.25 Td (it ) Tj ET Q q 0 0 0 rg BT 391.16 450.25 Td (earns ) Tj ET Q q 0 0 0 rg BT 415.13 450.25 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 452.15 450.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 492.24 450.25 Td (from ) Tj ET Q q 0 0 0 rg BT 514.55 450.25 Td (the ) Tj ET Q q 0 0 0 rg BT 529.64 450.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 548.07 450.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.25 Td (construction ) Tj ET Q q 0 0 0 rg BT 101.57 438.25 Td (of ) Tj ET Q q 0 0 0 rg BT 112.54 438.25 Td (single-family ) Tj ET Q q 0 0 0 rg BT 168.49 438.25 Td (attached ) Tj ET Q q 0 0 0 rg BT 204.44 438.25 Td (and ) Tj ET Q q 0 0 0 rg BT 221.52 438.25 Td (detached ) Tj ET Q q 0 0 0 rg BT 259.69 438.25 Td (homes, ) Tj ET Q q 0 0 0 rg BT 290.93 438.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 337.45 438.25 Td (and ) Tj ET Q q 0 0 0 rg BT 354.52 438.25 Td (development ) Tj ET Q q 0 0 0 rg BT 408.81 438.25 Td (of ) Tj ET Q q 0 0 0 rg BT 419.78 438.25 Td (land, ) Tj ET Q q 0 0 0 rg BT 442.13 438.25 Td (and ) Tj ET Q q 0 0 0 rg BT 459.21 438.25 Td (the ) Tj ET Q q 0 0 0 rg BT 474.06 438.25 Td (occasional ) Tj ET Q q 0 0 0 rg BT 518.90 438.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 537.08 438.25 Td (of ) Tj ET Q q 0 0 0 rg BT 548.05 438.25 Td (lots ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.46 426.25 Td (third ) Tj ET Q q 0 0 0 rg BT 80.53 426.25 Td (parties. ) Tj ET Q q 0 0 0 rg BT 111.87 426.25 Td ( ) Tj ET Q q 0 0 0 rg BT 114.06 426.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 131.79 426.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 168.96 426.25 Td (services ) Tj ET Q q 0 0 0 rg BT 203.35 426.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 247.19 426.25 Td (generate ) Tj ET Q q 0 0 0 rg BT 283.23 426.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 317.06 426.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 356.46 426.25 Td (from ) Tj ET Q q 0 0 0 rg BT 378.08 426.25 Td (the ) Tj ET Q q 0 0 0 rg BT 392.48 426.25 Td (origination, ) Tj ET Q q 0 0 0 rg BT 441.05 426.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 458.78 426.25 Td (and ) Tj ET Q q 0 0 0 rg BT 475.40 426.25 Td (servicing ) Tj ET Q q 0 0 0 rg BT 514.24 426.25 Td (of ) Tj ET Q q 0 0 0 rg BT 524.76 426.25 Td (mortgage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 73.72 414.25 Td (and ) Tj ET Q q 0 0 0 rg BT 91.26 414.25 Td (title ) Tj ET Q q 0 0 0 rg BT 109.92 414.25 Td (services ) Tj ET Q q 0 0 0 rg BT 145.24 414.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 185.56 414.25 Td (for ) Tj ET Q q 0 0 0 rg BT 200.33 414.25 Td (purchasers ) Tj ET Q q 0 0 0 rg BT 246.19 414.25 Td (of ) Tj ET Q q 0 0 0 rg BT 257.63 414.25 Td (the ) Tj ET Q q 0 0 0 rg BT 272.95 414.25 Td (Company) Tj ET Q q 0 0 0 rg BT 314.62 414.25 Td (s ) Tj ET Q q 0 0 0 rg BT 321.62 414.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 350.84 414.25 Td (and ) Tj ET Q q 0 0 0 rg BT 368.38 414.25 Td (are ) Tj ET Q q 0 0 0 rg BT 383.70 414.25 Td (included ) Tj ET Q q 0 0 0 rg BT 421.24 414.25 Td (in ) Tj ET Q q 0 0 0 rg BT 432.12 414.25 Td (our ) Tj ET Q q 0 0 0 rg BT 448.56 414.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 486.65 414.25 Td (services ) Tj ET Q q 0 0 0 rg BT 521.97 414.25 Td (reportable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.25 Td (segment. ) Tj ET Q q 0 0 0 rg BT 88.04 402.25 Td ( ) Tj ET Q q 0 0 0 rg BT 90.75 402.25 Td (In ) Tj ET Q q 0 0 0 rg BT 101.79 402.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 149.47 402.25 Td (with ) Tj ET Q q 0 0 0 rg BT 169.96 402.25 Td (the ) Tj ET Q q 0 0 0 rg BT 184.89 402.25 Td (aggregation ) Tj ET Q q 0 0 0 rg BT 234.80 402.25 Td (criteria ) Tj ET Q q 0 0 0 rg BT 265.82 402.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 298.52 402.25 Td (in ) Tj ET Q q 0 0 0 rg BT 308.41 402.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 330.58 402.25 Td (280, ) Tj ET Q q 0 0 0 rg BT 350.79 402.25 Td (we ) Tj ET Q q 0 0 0 rg BT 365.16 402.25 Td (have ) Tj ET Q q 0 0 0 rg BT 386.75 402.25 Td (identified ) Tj ET Q q 0 0 0 rg BT 427.79 402.25 Td (each ) Tj ET Q q 0 0 0 rg BT 448.81 402.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 507.08 402.25 Td (division ) Tj ET Q q 0 0 0 rg BT 542.02 402.25 Td (as ) Tj ET Q q 0 0 0 rg BT 553.06 402.25 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 89.51 390.25 Td (segment ) Tj ET Q q 0 0 0 rg BT 125.08 390.25 Td (and ) Tj ET Q q 0 0 0 rg BT 141.77 390.25 Td (have ) Tj ET Q q 0 0 0 rg BT 162.89 390.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 210.12 390.25 Td (our ) Tj ET Q q 0 0 0 rg BT 225.70 390.25 Td (reportable ) Tj ET Q q 0 0 0 rg BT 268.48 390.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 307.94 390.25 Td (are ) Tj ET Q q 0 0 0 rg BT 322.40 390.25 Td (as ) Tj ET Q q 0 0 0 rg BT 332.98 390.25 Td (follows: ) Tj ET Q q 0 0 0 rg BT 368.00 390.25 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 405.25 390.25 Td (homebuilding; ) Tj ET Q q 0 0 0 rg BT 465.83 390.25 Td (Southern ) Tj ET Q q 0 0 0 rg BT 504.18 390.25 Td (homebuilding; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.25 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 104.93 378.25 Td (homebuilding; ) Tj ET Q q 0 0 0 rg BT 166.47 378.25 Td (and ) Tj ET Q q 0 0 0 rg BT 184.13 378.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 222.32 378.25 Td (services ) Tj ET Q q 0 0 0 rg BT 257.74 378.25 Td (operations.) Tj ET Q q 0 0 0 rg BT 306.72 378.25 Td (The ) Tj ET Q q 0 0 0 rg BT 325.48 378.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 384.25 378.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 425.23 378.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 465.66 378.25 Td (that ) Tj ET Q q 0 0 0 rg BT 483.87 378.25 Td (are ) Tj ET Q q 0 0 0 rg BT 499.29 378.25 Td (included ) Tj ET Q q 0 0 0 rg BT 536.94 378.25 Td (within ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.25 Td (each ) Tj ET Q q 0 0 0 rg BT 70.03 366.25 Td (reportable ) Tj ET Q q 0 0 0 rg BT 112.77 366.25 Td (segment ) Tj ET Q q 0 0 0 rg BT 148.31 366.25 Td (have ) Tj ET Q q 0 0 0 rg BT 169.40 366.25 Td (been ) Tj ET Q q 0 0 0 rg BT 190.49 366.25 Td (aggregated ) Tj ET Q q 0 0 0 rg BT 236.56 366.25 Td (because ) Tj ET Q q 0 0 0 rg BT 270.42 366.25 Td (they ) Tj ET Q q 0 0 0 rg BT 289.85 366.25 Td (share ) Tj ET Q q 0 0 0 rg BT 313.16 366.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 343.14 366.25 Td (aggregation ) Tj ET Q q 0 0 0 rg BT 392.56 366.25 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 451.96 366.25 Td (as ) Tj ET Q q 0 0 0 rg BT 462.50 366.25 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 506.36 366.25 Td (in ) Tj ET Q q 0 0 0 rg BT 515.86 366.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 537.52 366.25 Td (280 ) Tj ET Q q 0 0 0 rg BT 554.73 366.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.25 Td (the ) Tj ET Q q 0 0 0 rg BT 66.60 354.25 Td (following ) Tj ET Q q 0 0 0 rg BT 110.37 354.25 Td (regards: ) Tj ET Q q 0 0 0 rg BT 147.46 354.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 164.00 354.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 208.31 354.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 252.07 354.25 Td (characteristics; ) Tj ET Q q 0 0 0 rg BT 316.92 354.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 333.46 354.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 375.55 354.25 Td (and ) Tj ET Q q 0 0 0 rg BT 394.87 354.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 435.29 354.25 Td (future ) Tj ET Q q 0 0 0 rg BT 464.04 354.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 508.36 354.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 534.35 354.25 Td (mar) Tj ET Q q 0 0 0 rg BT 549.72 354.25 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.25 Td (percentages; ) Tj ET Q q 0 0 0 rg BT 101.97 342.25 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 116.13 342.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 150.30 342.25 Td (products, ) Tj ET Q q 0 0 0 rg BT 189.74 342.25 Td (production ) Tj ET Q q 0 0 0 rg BT 235.56 342.25 Td (processes ) Tj ET Q q 0 0 0 rg BT 276.38 342.25 Td (and ) Tj ET Q q 0 0 0 rg BT 293.32 342.25 Td (methods ) Tj ET Q q 0 0 0 rg BT 329.71 342.25 Td (of ) Tj ET Q q 0 0 0 rg BT 340.54 342.25 Td (distribution; ) Tj ET Q q 0 0 0 rg BT 391.93 342.25 Td (and ) Tj ET Q q 0 0 0 rg BT 408.87 342.25 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 423.03 342.25 Td (geographical ) Tj ET Q q 0 0 0 rg BT 477.17 342.25 Td (proximity) Tj ET Q q 0 0 0 rg BT 515.96 342.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.55 320.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 125.60 320.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 165.86 320.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 205.58 320.25 Td (that ) Tj ET Q q 0 0 0 rg BT 223.07 320.25 Td (comprise ) Tj ET Q q 0 0 0 rg BT 262.23 320.25 Td (each ) Tj ET Q q 0 0 0 rg BT 283.04 320.25 Td (of ) Tj ET Q q 0 0 0 rg BT 293.88 320.25 Td (our ) Tj ET Q q 0 0 0 rg BT 309.71 320.25 Td (reportable ) Tj ET Q q 0 0 0 rg BT 352.74 320.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 392.45 320.25 Td (are ) Tj ET Q q 0 0 0 rg BT 407.16 320.25 Td (as ) Tj ET Q q 0 0 0 rg BT 417.99 320.25 Td (follows:) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 298.9833984375 m 129.5 298.9833984375 l s q 0 0 0 rg BT 94.50 300.32 Td (Midwest) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 242.5 298.9833984375 m 278.6083984375 298.9833984375 l s q 0 0 0 rg BT 242.50 300.32 Td (Southern) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 388.5 298.9833984375 m 440.7119140625 298.9833984375 l s q 0 0 0 rg BT 388.50 300.32 Td (Mid-Atlantic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 286.37 Td (Chicago, ) Tj ET Q q 0 0 0 rg BT 132.83 286.37 Td (Illinois) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 286.37 Td (Orlando, ) Tj ET Q q 0 0 0 rg BT 280.27 286.37 Td (Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 286.37 Td (Charlotte, ) Tj ET Q q 0 0 0 rg BT 430.71 286.37 Td (North ) Tj ET Q q 0 0 0 rg BT 456.54 286.37 Td (Carolina) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 274.37 Td (Cincinnati, ) Tj ET Q q 0 0 0 rg BT 141.16 274.37 Td (Ohio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 274.37 Td (Sarasota, ) Tj ET Q q 0 0 0 rg BT 281.38 274.37 Td (Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 274.37 Td (Raleigh, ) Tj ET Q q 0 0 0 rg BT 424.60 274.37 Td (North ) Tj ET Q q 0 0 0 rg BT 450.43 274.37 Td (Carolina) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 262.37 Td (Columbus, ) Tj ET Q q 0 0 0 rg BT 140.62 262.37 Td (Ohio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 262.37 Td (T) Tj ET Q q 0 0 0 rg BT 248.26 262.37 Td (ampa, Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 262.37 Td (W) Tj ET Q q 0 0 0 rg BT 397.54 262.37 Td (ashington, ) Tj ET Q q 0 0 0 rg BT 441.02 262.37 Td (D.C.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 250.37 Td (Indianapolis, ) Tj ET Q q 0 0 0 rg BT 148.93 250.37 Td (Indiana) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 250.37 Td (Austin, ) Tj ET Q q 0 0 0 rg BT 274.08 250.37 Td (T) Tj ET Q q 0 0 0 rg BT 279.75 250.37 Td (exas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 238.37 Td (Minneapolis/St. ) Tj ET Q q 0 0 0 rg BT 160.61 238.37 Td (Paul, ) Tj ET Q q 0 0 0 rg BT 183.39 238.37 Td (Minnesota) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 238.37 Td (Dallas/Fort ) Tj ET Q q 0 0 0 rg BT 289.90 238.37 Td (W) Tj ET Q q 0 0 0 rg BT 298.85 238.37 Td (orth, ) Tj ET Q q 0 0 0 rg BT 319.47 238.37 Td (T) Tj ET Q q 0 0 0 rg BT 325.14 238.37 Td (exas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 226.37 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 127.83 226.37 Td (Michigan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 226.37 Td (Houston, ) Tj ET Q q 0 0 0 rg BT 281.30 226.37 Td (T) Tj ET Q q 0 0 0 rg BT 286.97 226.37 Td (exas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 214.37 Td (San ) Tj ET Q q 0 0 0 rg BT 259.45 214.37 Td (Antonio, ) Tj ET Q q 0 0 0 rg BT 297.05 214.37 Td (T) Tj ET Q q 0 0 0 rg BT 302.46 214.37 Td (exas) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 49 0 obj <>] /Rotate 0 /Contents 50 0 R>> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.49 740.10 Td (following ) Tj ET Q q 0 0 0 rg BT 108.83 740.10 Td (table ) Tj ET Q q 0 0 0 rg BT 130.71 740.10 Td (shows, ) Tj ET Q q 0 0 0 rg BT 160.66 740.10 Td (by ) Tj ET Q q 0 0 0 rg BT 173.10 740.10 Td (segment: ) Tj ET Q q 0 0 0 rg BT 211.65 740.10 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 248.25 740.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 288.46 740.10 Td (income ) Tj ET Q q 0 0 0 rg BT 320.33 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.22 740.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 369.10 740.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 403.75 740.10 Td (for ) Tj ET Q q 0 0 0 rg BT 417.86 740.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.52 740.10 Td (three ) Tj ET Q q 0 0 0 rg BT 454.95 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 471.84 740.10 Td (six ) Tj ET Q q 0 0 0 rg BT 485.96 740.10 Td (months ) Tj ET Q q 0 0 0 rg BT 517.85 740.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 544.17 740.10 Td (June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 64.50 728.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 87.00 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 103.94 728.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.94 728.10 Td (, ) Tj ET Q q 0 0 0 rg BT 128.94 728.10 Td (as ) Tj ET Q q 0 0 0 rg BT 139.77 728.10 Td (well ) Tj ET Q q 0 0 0 rg BT 159.49 728.10 Td (as ) Tj ET Q q 0 0 0 rg BT 170.32 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 185.03 728.10 Td (Company) Tj ET Q q 0 0 0 rg BT 226.70 728.10 Td (s ) Tj ET Q q 0 0 0 rg BT 233.09 728.10 Td (income ) Tj ET Q q 0 0 0 rg BT 265.02 728.10 Td (before ) Tj ET Q q 0 0 0 rg BT 293.06 728.10 Td (income ) Tj ET Q q 0 0 0 rg BT 324.99 728.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 348.04 728.10 Td (for ) Tj ET Q q 0 0 0 rg BT 362.20 728.10 Td (such ) Tj ET Q q 0 0 0 rg BT 383.03 728.10 Td (periods:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 704.6 m 377 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 704.6 m 384 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 704.6 m 439 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 704.6 m 449 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 704.6 m 502 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 704.6 m 509 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 704.6 m 562 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 704.6 m 502 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 692.6 m 502 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 704.6 m 509 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 692.6 m 509 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 704.6 m 562 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 692.6 m 562 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 692.6 m 322 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 692.6 m 377 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 692.6 m 384 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 692.6 m 439 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 692.6 m 449 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 692.6 m 502 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 692.6 m 509 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 692.6 m 562 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 632.6 m 384 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 632.6 m 439 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 632.6 m 322 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 620.6 m 322 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 632.6 m 377 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 620.6 m 377 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 632.6 m 384 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 620.6 m 384 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 632.6 m 439 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 620.6 m 439 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 632.6 m 449 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 620.6 m 449 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 632.6 m 502 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 620.6 m 502 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 632.6 m 509 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 620.6 m 509 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 632.6 m 562 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 620.6 m 562 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 620.6 m 322 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 620.6 m 377 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 620.6 m 384 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 620.6 m 439 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 620.6 m 449 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 620.6 m 502 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 620.6 m 509 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 620.6 m 562 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 543.6 m 322 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 531.6 m 322 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 543.6 m 377 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 531.6 m 377 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 543.6 m 384 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 531.6 m 384 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 543.6 m 439 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 531.6 m 439 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 543.6 m 449 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 531.6 m 449 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 543.6 m 502 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 531.6 m 502 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 543.6 m 509 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 531.6 m 509 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 543.6 m 562 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 531.6 m 562 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 531.6 m 322 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 531.6 m 377 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 531.6 m 384 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 531.6 m 439 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 531.6 m 449 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 531.6 m 502 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 531.6 m 509 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 531.6 m 562 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 466.6 m 322 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 466.6 m 377 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 466.6 m 384 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 466.6 m 439 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 466.6 m 449 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 466.6 m 502 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 466.6 m 509 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 466.6 m 562 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 466.6 m 322 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 454.6 m 322 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 466.6 m 377 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 454.6 m 377 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 466.6 m 384 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 454.6 m 384 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 466.6 m 439 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 454.6 m 439 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 466.6 m 449 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 454.6 m 449 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 466.6 m 502 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 454.6 m 502 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 466.6 m 509 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 454.6 m 509 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 466.6 m 562 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 454.6 m 562 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 454.6 m 322 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 454.6 m 377 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 454.6 m 384 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 454.6 m 439 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 454.6 m 449 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 454.6 m 502 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 454.6 m 509 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 454.6 m 562 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 425.6 m 322 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 425.6 m 377 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 425.6 m 384 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 425.6 m 439 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 425.6 m 449 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 425.6 m 502 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 425.6 m 509 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 425.6 m 562 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 406.6 m 322 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 406.6 m 377 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 406.6 m 384 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 406.6 m 439 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 406.6 m 449 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 406.6 m 502 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 406.6 m 509 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 406.6 m 562 406.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.35 708.83 Td (Thr) Tj ET Q q 0 0 0 rg BT 341.61 708.83 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.20 708.83 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 696.55 Td (\(In ) Tj ET Q q 0 0 0 rg BT 62.83 696.55 Td (thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.00 696.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.00 696.55 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 696.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.00 696.55 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 684.68 Td (Revenue:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 672.55 Td (Midwest homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 672.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.75 672.68 Td (226,902) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 672.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 672.55 Td (168,469) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 672.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 672.68 Td (385,522) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 672.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 672.55 Td (314,891) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 660.55 Td (Southern homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.75 660.68 Td (237,582) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 660.55 Td (178,780) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 660.68 Td (427,970) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 660.55 Td (328,145) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 648.55 Td (Mid-Atlantic homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.80 648.68 Td (81,738) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 648.55 Td (97,749) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 648.68 Td (155,561) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 648.55 Td (194,635) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 636.55 Td (Financial services ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 117.04 640.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.80 636.68 Td (1) Tj ET Q q 0 0 0 rg BT 355.80 636.68 Td (1,876) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 636.55 Td (1) Tj ET Q q 0 0 0 rg BT 417.80 636.55 Td (1,868) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 636.68 Td (26,902) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 636.55 Td (26,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 624.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 624.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 624.55 Td (revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 624.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.75 624.68 Td (558,098) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 624.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 624.55 Td (456,866) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 624.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.75 624.68 Td (995,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 624.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 624.55 Td (863,846) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 607.68 Td (Operating ) Tj ET Q q 0 0 0 rg BT 88.61 607.68 Td (income:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 595.55 Td (Midwest homebuilding) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 131.94 599.18 Td ( \(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 595.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.80 595.68 Td (18,981) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 595.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 595.55 Td (17,984) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 595.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 595.68 Td (31,198) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 595.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 595.55 Td (32,843) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 583.55 Td (Southern homebuilding ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 134.83 587.18 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.80 583.68 Td (19,370) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 583.55 Td (4,709) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 583.68 Td (34,220) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 583.55 Td (13,421) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 571.55 Td (Mid-Atlantic homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.80 571.68 Td (5,106) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 571.55 Td (9,588) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 571.68 Td (7,698) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 571.55 Td (16,841) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 559.55 Td (Financial services) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 115.04 563.18 Td ( \(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.80 559.68 Td (5,938) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 559.55 Td (6,860) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 559.68 Td (15,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 559.55 Td (16,090) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 547.55 Td (Less: Corporate selling, general and administrative expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.10 547.68 Td (\(10,890) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.80 547.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.10 547.55 Td (\(10,232) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.80 547.55 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.10 547.68 Td (\(18,948) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.80 547.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 547.55 Td (\(18,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 547.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 535.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 535.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 535.55 Td (operating ) Tj ET Q q 0 0 0 rg BT 102.04 535.55 Td (income) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 125.58 539.18 Td ( ) Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 126.88 539.18 Td (\(b\) ) Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 134.24 539.18 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 535.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.80 535.68 Td (38,505) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 535.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 535.55 Td (28,909) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 535.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 535.68 Td (69,646) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 535.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 535.55 Td (60,565) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 518.68 Td (Inter) Tj ET Q q 0 0 0 rg BT 68.68 518.68 Td (est ) Tj ET Q q 0 0 0 rg BT 80.01 518.68 Td (expense:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 506.55 Td (Midwest homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 506.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.80 506.68 Td (1,812) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 506.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 506.55 Td (863) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 506.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 506.68 Td (3,878) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 506.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 506.55 Td (2,240) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 494.55 Td (Southern homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.80 494.68 Td (1,908) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 494.55 Td (1,791) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 494.68 Td (4,195) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 494.55 Td (4,168) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 482.55 Td (Mid-Atlantic homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 482.68 Td (473) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 482.55 Td (515) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 482.68 Td (1,229) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 482.55 Td (1,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 470.55 Td (Financial services ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 117.04 474.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 470.68 Td (695) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 470.55 Td (665) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 470.68 Td (1,464) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 470.55 Td (1,333) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 458.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 458.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 458.55 Td (interest ) Tj ET Q q 0 0 0 rg BT 95.37 458.55 Td (expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 458.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.80 458.68 Td (4,888) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 458.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 458.55 Td (3,834) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 458.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 458.68 Td (10,766) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 458.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 458.55 Td (9,172) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 441.55 Td (Equity in loss \(income\) from joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.80 441.68 Td (86) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.10 441.55 Td (\(1) Tj ET Q q 0 0 0 rg BT 427.76 441.55 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.80 441.55 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.10 441.68 Td (\(224) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.80 441.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 441.55 Td (\(127) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 441.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 429.55 Td (Acquisition and integration costs) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 157.04 433.18 Td ( \(d\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.80 429.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 429.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 429.68 Td (1,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 429.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 410.55 Td (Income ) Tj ET Q q 0 0 0 rg BT 77.49 410.55 Td (before ) Tj ET Q q 0 0 0 rg BT 99.92 410.55 Td (income ) Tj ET Q q 0 0 0 rg BT 125.46 410.55 Td (taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 410.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.80 410.68 Td (33,531) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 410.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 410.55 Td (25,185) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 410.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.75 410.68 Td (57,404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 410.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 410.55 Td (51,520) Tj ET Q BT /F1 10.00 Tf ET BT /F1 7.50 Tf ET q 0 0 0 rg BT 49.50 396.10 Td (\(a\) ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 396.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 81.21 396.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 109.50 396.10 Td (services ) Tj ET Q q 0 0 0 rg BT 135.71 396.10 Td (operational ) Tj ET Q q 0 0 0 rg BT 171.49 396.10 Td (results ) Tj ET Q q 0 0 0 rg BT 193.13 396.10 Td (should ) Tj ET Q q 0 0 0 rg BT 215.18 396.10 Td (be ) Tj ET Q q 0 0 0 rg BT 224.31 396.10 Td (viewed ) Tj ET Q q 0 0 0 rg BT 248.02 396.10 Td (in ) Tj ET Q q 0 0 0 rg BT 255.90 396.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 290.85 396.10 Td (with ) Tj ET Q q 0 0 0 rg BT 306.24 396.10 Td (our ) Tj ET Q q 0 0 0 rg BT 318.29 396.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 362.00 396.10 Td (business ) Tj ET Q q 0 0 0 rg BT 389.47 396.10 Td (as ) Tj ET Q q 0 0 0 rg BT 397.77 396.10 Td (its ) Tj ET Q q 0 0 0 rg BT 406.91 396.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 440.20 396.10 Td (originate ) Tj ET Q q 0 0 0 rg BT 468.91 396.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 486.79 396.10 Td (and ) Tj ET Q q 0 0 0 rg BT 499.67 396.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 524.63 396.10 Td (title ) Tj ET Q q 0 0 0 rg BT 538.34 396.10 Td (services ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 387.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 97.29 387.10 Td (for ) Tj ET Q q 0 0 0 rg BT 107.91 387.10 Td (our ) Tj ET Q q 0 0 0 rg BT 119.78 387.10 Td (homebuying ) Tj ET Q q 0 0 0 rg BT 159.15 387.10 Td (customers, ) Tj ET Q q 0 0 0 rg BT 193.31 387.10 Td (with ) Tj ET Q q 0 0 0 rg BT 208.52 387.10 Td (the ) Tj ET Q q 0 0 0 rg BT 219.56 387.10 Td (exception ) Tj ET Q q 0 0 0 rg BT 250.59 387.10 Td (of ) Tj ET Q q 0 0 0 rg BT 258.71 387.10 Td (an ) Tj ET Q q 0 0 0 rg BT 267.67 387.10 Td (immaterial ) Tj ET Q q 0 0 0 rg BT 302.03 387.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 326.40 387.10 Td (of ) Tj ET Q q 0 0 0 rg BT 334.52 387.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 364.72 387.10 Td (refinancing.) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (\(b\) ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 377.10 Td (Includes ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 94.62 377.10 Td ($3.0million) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 131.29 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.00 377.10 Td (and ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 145.54 377.10 Td ($3.9million) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 182.21 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 183.92 377.10 Td (of ) Tj ET Q q 0 0 0 rg BT 191.87 377.10 Td (char) Tj ET Q q 0 0 0 rg BT 204.64 377.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 216.35 377.10 Td (related ) Tj ET Q q 0 0 0 rg BT 238.46 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 246.01 377.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 274.37 377.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 308.98 377.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 346.53 377.10 Td (taken ) Tj ET Q q 0 0 0 rg BT 364.48 377.10 Td (during ) Tj ET Q q 0 0 0 rg BT 385.77 377.10 Td (the ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 396.64 377.10 Td (three ) Tj ET Q q 0 0 0 rg BT 413.34 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 425.88 377.10 Td (six ) Tj ET Q q 0 0 0 rg BT 436.34 377.10 Td (months ) Tj ET Q q 0 0 0 rg BT 460.14 377.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 479.76 377.10 Td (June ) Tj ET Q q 0 0 0 rg BT 495.21 377.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 506.30 377.10 Td (2018) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 521.30 377.10 Td (, ) Tj ET Q q 0 0 0 rg BT 524.88 377.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 560.63 377.10 Td (, ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 368.10 Td (as ) Tj ET Q q 0 0 0 rg BT 75.62 368.10 Td (a ) Tj ET Q q 0 0 0 rg BT 80.83 368.10 Td (result ) Tj ET Q q 0 0 0 rg BT 99.37 368.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.49 368.10 Td (our ) Tj ET Q q 0 0 0 rg BT 119.36 368.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 154.15 368.10 Td (of ) Tj ET Q q 0 0 0 rg BT 162.27 368.10 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 189.97 368.10 Td (Homes ) Tj ET Q q 0 0 0 rg BT 213.10 368.10 Td (in ) Tj ET Q q 0 0 0 rg BT 220.81 368.10 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 245.80 368.10 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 276.42 368.10 Td (on ) Tj ET Q q 0 0 0 rg BT 285.80 368.10 Td (March ) Tj ET Q q 0 0 0 rg BT 307.25 368.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 314.75 368.10 Td (2018. ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 49.50 358.10 Td (\(c\) ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 358.10 Td (Includes ) Tj ET Q q 0 0 0 rg BT 94.86 358.10 Td (an ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 103.89 358.10 Td ($8.5 ) Tj ET Q q 0 0 0 rg BT 118.96 358.10 Td (million) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 140.63 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 142.58 358.10 Td (char) Tj ET Q q 0 0 0 rg BT 155.35 358.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 164.38 358.10 Td (for ) Tj ET Q q 0 0 0 rg BT 175.07 358.10 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 219.08 358.10 Td (repair ) Tj ET Q q 0 0 0 rg BT 238.52 358.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 255.47 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 263.25 358.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 285.61 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 293.80 358.10 Td (our ) Tj ET Q q 0 0 0 rg BT 305.75 358.10 Td (Florida ) Tj ET Q q 0 0 0 rg BT 329.36 358.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 370.06 358.10 Td (taken ) Tj ET Q q 0 0 0 rg BT 388.25 358.10 Td (during ) Tj ET Q q 0 0 0 rg BT 409.78 358.10 Td (both ) Tj ET Q q 0 0 0 rg BT 425.07 358.10 Td (the ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 436.18 358.10 Td (three ) Tj ET Q q 0 0 0 rg BT 453.12 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 465.90 358.10 Td (six ) Tj ET Q q 0 0 0 rg BT 476.60 358.10 Td (months ) Tj ET Q q 0 0 0 rg BT 500.63 358.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 520.49 358.10 Td (June ) Tj ET Q q 0 0 0 rg BT 536.19 358.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 547.51 358.10 Td (2017) Tj ET Q BT /F1 7.50 Tf ET BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 349.10 Td (\(as ) Tj ET Q q 0 0 0 rg BT 78.12 349.10 Td (more ) Tj ET Q q 0 0 0 rg BT 95.41 349.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 111.45 349.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 142.07 349.10 Td (in ) Tj ET Q BT /F1 7.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.37 w 0 i [] 0 d 1 J 1 j 3 M 149.77978515625 348.100244140625 m 169.984375 348.100244140625 l s q 0 0 1 rg BT 149.78 349.10 Td (Note ) Tj ET Q q 0 0 1 rg BT 166.23 349.10 Td (6) Tj ET Q BT /F1 7.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 169.98 349.10 Td ( ) Tj ET Q q 0 0 0 rg BT 171.86 349.10 Td (to ) Tj ET Q q 0 0 0 rg BT 179.57 349.10 Td (our ) Tj ET Q q 0 0 0 rg BT 191.44 349.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 219.55 349.10 Td (statements\).) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 49.50 339.10 Td (\(d\) ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 339.10 Td (Represents ) Tj ET Q q 0 0 0 rg BT 102.26 339.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 119.12 339.10 Td (which ) Tj ET Q q 0 0 0 rg BT 139.30 339.10 Td (include, ) Tj ET Q q 0 0 0 rg BT 165.11 339.10 Td (but ) Tj ET Q q 0 0 0 rg BT 176.54 339.10 Td (are ) Tj ET Q q 0 0 0 rg BT 187.55 339.10 Td (not ) Tj ET Q q 0 0 0 rg BT 198.99 339.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 222.10 339.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 231.66 339.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 248.09 339.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 262.02 339.10 Td (and ) Tj ET Q q 0 0 0 rg BT 274.70 339.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 305.50 339.10 Td (travel ) Tj ET Q q 0 0 0 rg BT 324.43 339.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.12 339.10 Td (communication ) Tj ET Q q 0 0 0 rg BT 385.63 339.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 416.43 339.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 430.37 339.10 Td (of ) Tj ET Q q 0 0 0 rg BT 438.47 339.10 Td (appraisals, ) Tj ET Q q 0 0 0 rg BT 472.19 339.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 506.95 339.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 520.88 339.10 Td (and ) Tj ET Q q 0 0 0 rg BT 533.56 339.10 Td (expenses, ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 330.10 Td (and ) Tj ET Q q 0 0 0 rg BT 80.18 330.10 Td (miscellaneous ) Tj ET Q q 0 0 0 rg BT 124.53 330.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 153.46 330.10 Td (related ) Tj ET Q q 0 0 0 rg BT 175.72 330.10 Td (to ) Tj ET Q q 0 0 0 rg BT 183.41 330.10 Td (our ) Tj ET Q q 0 0 0 rg BT 195.26 330.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 215.43 330.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 250.20 330.10 Td (of ) Tj ET Q q 0 0 0 rg BT 258.30 330.10 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 285.98 330.10 Td (Homes. ) Tj ET Q q 0 0 0 rg BT 310.96 330.10 Td ( ) Tj ET Q q 0 0 0 rg BT 312.41 330.10 Td (As ) Tj ET Q q 0 0 0 rg BT 322.60 330.10 Td (these ) Tj ET Q q 0 0 0 rg BT 339.87 330.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 356.72 330.10 Td (are ) Tj ET Q q 0 0 0 rg BT 367.73 330.10 Td (not ) Tj ET Q q 0 0 0 rg BT 379.17 330.10 Td (eligible ) Tj ET Q q 0 0 0 rg BT 403.52 330.10 Td (for ) Tj ET Q q 0 0 0 rg BT 414.12 330.10 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 456.38 330.10 Td (as ) Tj ET Q q 0 0 0 rg BT 464.48 330.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 483.83 330.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 502.76 330.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 521.49 330.10 Td (such ) Tj ET Q q 0 0 0 rg BT 537.09 330.10 Td (amounts ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 321.10 Td (are ) Tj ET Q q 0 0 0 rg BT 78.53 321.10 Td (expensed ) Tj ET Q q 0 0 0 rg BT 108.31 321.10 Td (as ) Tj ET Q q 0 0 0 rg BT 116.44 321.10 Td (incurred.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 297.10 Td (The following tables show total assets by segment at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.52 297.10 Td (June30, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.35 297.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.79 297.10 Td (December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.37 297.10 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 274.6 m 302 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 274.6 m 313 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 274.6 m 353 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 274.6 m 366 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 274.6 m 425 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 274.6 m 436 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 274.6 m 506 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 274.6 m 517 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 274.6 m 562 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 245.60000000000002 m 258 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 245.60000000000002 m 302 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 245.60000000000002 m 313 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 245.60000000000002 m 353 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 245.60000000000002 m 366 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 245.60000000000002 m 425 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 245.60000000000002 m 436 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 245.60000000000002 m 506 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 245.60000000000002 m 517 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 245.60000000000002 m 562 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 245.60000000000002 m 258 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 245.60000000000002 m 302 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 245.60000000000002 m 313 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 245.60000000000002 m 353 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 245.60000000000002 m 366 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 245.60000000000002 m 425 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 245.60000000000002 m 436 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 245.60000000000002 m 506 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 245.60000000000002 m 517 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 245.60000000000002 m 562 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 197.60000000000002 m 258 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 197.60000000000002 m 302 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 197.60000000000002 m 313 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 197.60000000000002 m 353 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 197.60000000000002 m 366 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 197.60000000000002 m 425 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 197.60000000000002 m 436 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 197.60000000000002 m 506 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 197.60000000000002 m 517 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 197.60000000000002 m 562 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 197.60000000000002 m 258 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 185.60000000000002 m 258 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 197.60000000000002 m 302 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 185.60000000000002 m 302 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 197.60000000000002 m 313 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 185.60000000000002 m 313 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 197.60000000000002 m 353 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 185.60000000000002 m 353 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 197.60000000000002 m 366 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 185.60000000000002 m 366 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 197.60000000000002 m 425 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 185.60000000000002 m 425 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 197.60000000000002 m 436 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 185.60000000000002 m 436 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 197.60000000000002 m 506 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 185.60000000000002 m 506 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 197.60000000000002 m 517 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 185.60000000000002 m 517 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 197.60000000000002 m 562 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 185.60000000000002 m 562 185.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.25 278.68 Td (June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 249.85 Td (\(In ) Tj ET Q q 0 0 0 rg BT 62.83 249.85 Td (thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 264.80 249.83 Td (Midwest) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 316.70 249.83 Td (Southern) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.75 249.83 Td (Mid-Atlantic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.70 265.83 Td (Corporate,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.50 257.83 Td (Financial Services) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.60 249.83 Td (and Unallocated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.25 249.83 Td (T) Tj ET Q q 0 0 0 rg BT 534.85 249.83 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 237.55 Td (Deposits ) Tj ET Q q 0 0 0 rg BT 81.50 237.55 Td (on ) Tj ET Q q 0 0 0 rg BT 91.50 237.55 Td (real ) Tj ET Q q 0 0 0 rg BT 105.49 237.55 Td (estate ) Tj ET Q q 0 0 0 rg BT 125.70 237.55 Td (under ) Tj ET Q q 0 0 0 rg BT 145.91 237.55 Td (option ) Tj ET Q q 0 0 0 rg BT 168.36 237.55 Td (or ) Tj ET Q q 0 0 0 rg BT 177.02 237.55 Td (contract) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 260.50 237.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 280.75 237.68 Td (5,933) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 315.50 237.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.75 237.68 Td (20,724) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.50 237.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.80 237.68 Td (7,163) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.50 237.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 237.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.50 237.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 237.68 Td (33,820) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 225.55 Td (Inventory ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 84.60 229.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 272.75 225.68 Td (657,154) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.75 225.68 Td (697,404) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.80 225.68 Td (264,090) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 225.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 225.68 Td (1,618,648) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 213.55 Td (Investments ) Tj ET Q q 0 0 0 rg BT 92.16 213.55 Td (in ) Tj ET Q q 0 0 0 rg BT 100.38 213.55 Td (joint ) Tj ET Q q 0 0 0 rg BT 117.05 213.55 Td (venture ) Tj ET Q q 0 0 0 rg BT 143.04 213.55 Td (arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.75 213.68 Td (342) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 331.75 213.68 Td (5,088) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.80 213.68 Td (8,323) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 213.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 213.68 Td (13,753) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 201.55 Td (Other ) Tj ET Q q 0 0 0 rg BT 71.71 201.55 Td (assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.75 201.68 Td (26,288) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.75 201.68 Td (36,977) Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 355.50 205.96 Td (\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 201.68 Td (16,440) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.80 201.68 Td (224,614) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 201.68 Td (304,319) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 189.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 189.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 189.55 Td (assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 260.50 189.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 272.75 189.68 Td (689,717) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 315.50 189.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.75 189.68 Td (760,193) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.50 189.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.80 189.68 Td (296,016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.50 189.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.80 189.68 Td (224,614) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.50 189.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 189.68 Td (1,970,540) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 163.60000000000002 m 302 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 163.60000000000002 m 313 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 163.60000000000002 m 353 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 163.60000000000002 m 366 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 163.60000000000002 m 425 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 163.60000000000002 m 436 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 163.60000000000002 m 506 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 163.60000000000002 m 517 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 163.60000000000002 m 562 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 134.60000000000002 m 258 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 134.60000000000002 m 302 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 134.60000000000002 m 313 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 134.60000000000002 m 353 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 134.60000000000002 m 366 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 134.60000000000002 m 425 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 134.60000000000002 m 436 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 134.60000000000002 m 506 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 134.60000000000002 m 517 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 134.60000000000002 m 562 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 134.60000000000002 m 258 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 134.60000000000002 m 302 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 134.60000000000002 m 313 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 134.60000000000002 m 353 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 134.60000000000002 m 366 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 134.60000000000002 m 425 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 134.60000000000002 m 436 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 134.60000000000002 m 506 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 134.60000000000002 m 517 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 134.60000000000002 m 562 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 86.60000000000002 m 258 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 86.60000000000002 m 302 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 86.60000000000002 m 313 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 86.60000000000002 m 353 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 86.60000000000002 m 366 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 86.60000000000002 m 425 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 86.60000000000002 m 436 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 86.60000000000002 m 506 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 86.60000000000002 m 517 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 86.60000000000002 m 562 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 86.60000000000002 m 258 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 74.60000000000002 m 258 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 86.60000000000002 m 302 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 74.60000000000002 m 302 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 86.60000000000002 m 313 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 74.60000000000002 m 313 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 86.60000000000002 m 353 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 74.60000000000002 m 353 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 86.60000000000002 m 366 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 74.60000000000002 m 366 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 86.60000000000002 m 425 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 74.60000000000002 m 425 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 86.60000000000002 m 436 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 74.60000000000002 m 436 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 86.60000000000002 m 506 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 74.60000000000002 m 506 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 86.60000000000002 m 517 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 74.60000000000002 m 517 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 86.60000000000002 m 562 86.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 74.60000000000002 m 562 74.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.05 167.55 Td (December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 138.85 Td (\(In ) Tj ET Q q 0 0 0 rg BT 62.83 138.85 Td (thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 265.50 138.85 Td (Midwest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.05 138.85 Td (Southern) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.10 138.85 Td (Mid-Atlantic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.50 154.85 Td (Corporate,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.05 146.85 Td (Financial Services) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.40 138.85 Td (and Unallocated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.80 138.85 Td (T) Tj ET Q q 0 0 0 rg BT 535.13 138.85 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 126.55 Td (Deposits ) Tj ET Q q 0 0 0 rg BT 81.50 126.55 Td (on ) Tj ET Q q 0 0 0 rg BT 91.50 126.55 Td (real ) Tj ET Q q 0 0 0 rg BT 105.49 126.55 Td (estate ) Tj ET Q q 0 0 0 rg BT 125.70 126.55 Td (under ) Tj ET Q q 0 0 0 rg BT 145.91 126.55 Td (option ) Tj ET Q q 0 0 0 rg BT 168.36 126.55 Td (or ) Tj ET Q q 0 0 0 rg BT 177.02 126.55 Td (contract) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.50 126.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.75 126.55 Td (4,933) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.50 126.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 327.75 126.55 Td (20,719) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.50 126.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.80 126.55 Td (6,904) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.50 126.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 126.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.50 126.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 126.55 Td (32,556) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 114.55 Td (Inventory ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 84.60 118.18 Td (\(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.75 114.55 Td (500,671) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.75 114.55 Td (636,019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.80 114.55 Td (245,328) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 114.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 114.55 Td (1,382,018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 102.55 Td (Investments ) Tj ET Q q 0 0 0 rg BT 92.16 102.55 Td (in ) Tj ET Q q 0 0 0 rg BT 100.38 102.55 Td (joint ) Tj ET Q q 0 0 0 rg BT 117.05 102.55 Td (venture ) Tj ET Q q 0 0 0 rg BT 143.04 102.55 Td (arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.75 102.55 Td (4,410) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.75 102.55 Td (9,677) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.80 102.55 Td (6,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 102.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 102.55 Td (20,525) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 90.55 Td (Other ) Tj ET Q q 0 0 0 rg BT 71.71 90.55 Td (assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.75 90.55 Td (13,573) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 327.75 90.55 Td (38,784) Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 355.50 94.96 Td (\(b\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.80 90.55 Td (13,31) Tj ET Q q 0 0 0 rg BT 417.80 90.55 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 90.55 Td (364,004) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 90.55 Td (429,672) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 78.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 78.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 78.55 Td (assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.50 78.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.75 78.55 Td (523,587) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.50 78.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.75 78.55 Td (705,199) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.50 78.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.80 78.55 Td (271,981) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.50 78.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 78.55 Td (364,004) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.50 78.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 78.55 Td (1,864,771) Tj ET Q BT /F1 10.00 Tf ET BT /F1 7.50 Tf ET q 0 0 0 rg BT 49.50 64.10 Td (\(a\) ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 64.10 Td (Inventory ) Tj ET Q q 0 0 0 rg BT 99.28 64.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 126.89 64.10 Td (single-family ) Tj ET Q q 0 0 0 rg BT 169.50 64.10 Td (lots, ) Tj ET Q q 0 0 0 rg BT 184.83 64.10 Td (land ) Tj ET Q q 0 0 0 rg BT 200.36 64.10 Td (and ) Tj ET Q q 0 0 0 rg BT 213.81 64.10 Td (land ) Tj ET Q q 0 0 0 rg BT 229.34 64.10 Td (development ) Tj ET Q q 0 0 0 rg BT 270.70 64.10 Td (costs; ) Tj ET Q q 0 0 0 rg BT 290.40 64.10 Td (land ) Tj ET Q q 0 0 0 rg BT 305.94 64.10 Td (held ) Tj ET Q q 0 0 0 rg BT 321.47 64.10 Td (for ) Tj ET Q q 0 0 0 rg BT 332.83 64.10 Td (sale; ) Tj ET Q q 0 0 0 rg BT 349.20 64.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 371.40 64.10 Td (under ) Tj ET Q q 0 0 0 rg BT 391.09 64.10 Td (construction; ) Tj ET Q q 0 0 0 rg BT 432.87 64.10 Td (model ) Tj ET Q q 0 0 0 rg BT 454.24 64.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 476.44 64.10 Td (and ) Tj ET Q q 0 0 0 rg BT 489.89 64.10 Td (furnishings; ) Tj ET Q q 0 0 0 rg BT 528.34 64.10 Td (community ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 55.10 Td (development ) Tj ET Q q 0 0 0 rg BT 108.11 55.10 Td (district ) Tj ET Q q 0 0 0 rg BT 130.82 55.10 Td (infrastructure; ) Tj ET Q q 0 0 0 rg BT 175.18 55.10 Td (and ) Tj ET Q q 0 0 0 rg BT 187.88 55.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 227.67 55.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 258.29 55.10 Td (not ) Tj ET Q q 0 0 0 rg BT 269.74 55.10 Td (owned.) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 49.50 46.10 Td (\(b\) ) Tj ET Q BT /F1 7.50 Tf ET q 0 0 0 rg BT 67.50 46.10 Td (Includes ) Tj ET Q q 0 0 0 rg BT 94.78 46.10 Td (development ) Tj ET Q q 0 0 0 rg BT 135.40 46.10 Td (reimbursements ) Tj ET Q q 0 0 0 rg BT 185.18 46.10 Td (from ) Tj ET Q q 0 0 0 rg BT 201.63 46.10 Td (local ) Tj ET Q q 0 0 0 rg BT 218.08 46.10 Td (municipalities.) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (NOTE 12. Supplemental Guarantor) Tj ET Q q 0 0 0 rg BT 202.67 740.25 Td ( Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.65 718.25 Td (Company) Tj ET Q q 0 0 0 rg BT 109.31 718.25 Td (s ) Tj ET Q q 0 0 0 rg BT 115.80 718.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 162.85 718.25 Td (under ) Tj ET Q q 0 0 0 rg BT 188.22 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 203.03 718.25 Td (2025 ) Tj ET Q q 0 0 0 rg BT 225.63 718.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 254.34 718.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 280.27 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 297.31 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 312.13 718.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 334.73 718.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 363.44 718.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 389.37 718.25 Td (are ) Tj ET Q q 0 0 0 rg BT 404.17 718.25 Td (not ) Tj ET Q q 0 0 0 rg BT 419.55 718.25 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 466.01 718.25 Td (by ) Tj ET Q q 0 0 0 rg BT 478.61 718.25 Td (all ) Tj ET Q q 0 0 0 rg BT 491.21 718.25 Td (of ) Tj ET Q q 0 0 0 rg BT 502.14 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 516.96 718.25 Td (Company) Tj ET Q q 0 0 0 rg BT 558.62 718.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 99.86 706.25 Td (and ) Tj ET Q q 0 0 0 rg BT 117.44 706.25 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 159.16 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 174.52 706.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 216.55 706.25 Td (has ) Tj ET Q q 0 0 0 rg BT 233.02 706.25 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 273.38 706.25 Td (condensed ) Tj ET Q q 0 0 0 rg BT 318.73 706.25 Td (consolidating ) Tj ET Q q 0 0 0 rg BT 375.75 706.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 413.87 706.25 Td (information ) Tj ET Q q 0 0 0 rg BT 464.22 706.25 Td (in ) Tj ET Q q 0 0 0 rg BT 475.14 706.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 523.24 706.25 Td (with ) Tj ET Q q 0 0 0 rg BT 544.16 706.25 Td (SEC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 97.63 694.25 Td (S-X ) Tj ET Q q 0 0 0 rg BT 117.99 694.25 Td (Rule ) Tj ET Q q 0 0 0 rg BT 141.12 694.25 Td (3-10, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 166.20 694.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 209.33 694.25 Td (Statements ) Tj ET Q q 0 0 0 rg BT 256.90 694.25 Td (of ) Tj ET Q q 0 0 0 rg BT 268.93 694.25 Td (Guarantors ) Tj ET Q q 0 0 0 rg BT 319.85 694.25 Td (and ) Tj ET Q q 0 0 0 rg BT 339.10 694.25 Td (Issuers ) Tj ET Q q 0 0 0 rg BT 371.68 694.25 Td (of ) Tj ET Q q 0 0 0 rg BT 383.70 694.25 Td (Guaranteed ) Tj ET Q q 0 0 0 rg BT 435.72 694.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 479.40 694.25 Td (Register) Tj ET Q q 0 0 0 rg BT 512.35 694.25 Td (ed ) Tj ET Q q 0 0 0 rg BT 526.04 694.25 Td (or ) Tj ET Q q 0 0 0 rg BT 539.18 694.25 Td (Being ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (Register) Tj ET Q q 0 0 0 rg BT 82.45 682.25 Td (ed. ) Tj ET Q q 0 0 0 rg BT 96.89 682.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.39 682.25 Td (The ) Tj ET Q q 0 0 0 rg BT 117.44 682.25 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 160.48 682.25 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 211.86 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 222.69 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 237.41 682.25 Td (2025 ) Tj ET Q q 0 0 0 rg BT 259.91 682.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 288.52 682.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 314.35 682.25 Td (and ) Tj ET Q q 0 0 0 rg BT 331.29 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 346.00 682.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 368.50 682.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 397.11 682.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 422.94 682.25 Td (are ) Tj ET Q q 0 0 0 rg BT 437.65 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 452.37 682.25 Td (same.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 660.25 Td (The ) Tj ET Q q 0 0 0 rg BT 69.26 660.25 Td (following ) Tj ET Q q 0 0 0 rg BT 112.36 660.25 Td (condensed ) Tj ET Q q 0 0 0 rg BT 158.78 660.25 Td (consolidating ) Tj ET Q q 0 0 0 rg BT 216.87 660.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 256.06 660.25 Td (information ) Tj ET Q q 0 0 0 rg BT 307.49 660.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 345.03 660.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 379.77 660.25 Td (sheets, ) Tj ET Q q 0 0 0 rg BT 410.92 660.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 457.35 660.25 Td (of ) Tj ET Q q 0 0 0 rg BT 469.89 660.25 Td (income ) Tj ET Q q 0 0 0 rg BT 503.54 660.25 Td (and ) Tj ET Q q 0 0 0 rg BT 522.19 660.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 544.17 660.25 Td (flow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 648.25 Td (information ) Tj ET Q q 0 0 0 rg BT 100.18 648.25 Td (for ) Tj ET Q q 0 0 0 rg BT 115.32 648.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 133.79 648.25 Td (Homes, ) Tj ET Q q 0 0 0 rg BT 168.09 648.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 186.83 648.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 205.85 648.25 Td (parent ) Tj ET Q q 0 0 0 rg BT 234.30 648.25 Td (company ) Tj ET Q q 0 0 0 rg BT 274.43 648.25 Td (and ) Tj ET Q q 0 0 0 rg BT 292.34 648.25 Td (the ) Tj ET Q q 0 0 0 rg BT 308.03 648.25 Td (issuer ) Tj ET Q q 0 0 0 rg BT 334.83 648.25 Td (of ) Tj ET Q q 0 0 0 rg BT 346.63 648.25 Td (the ) Tj ET Q q 0 0 0 rg BT 362.32 648.25 Td (aforementioned ) Tj ET Q q 0 0 0 rg BT 428.54 648.25 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 475.88 648.25 Td (notes\), ) Tj ET Q q 0 0 0 rg BT 506.29 648.25 Td (the ) Tj ET Q q 0 0 0 rg BT 521.98 648.25 Td (Guarantor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 636.25 Td (Subsidiaries, ) Tj ET Q q 0 0 0 rg BT 104.53 636.25 Td (collectively) Tj ET Q q 0 0 0 rg BT 150.52 636.25 Td (, ) Tj ET Q q 0 0 0 rg BT 156.67 636.25 Td (and ) Tj ET Q q 0 0 0 rg BT 174.75 636.25 Td (for ) Tj ET Q q 0 0 0 rg BT 190.05 636.25 Td (all ) Tj ET Q q 0 0 0 rg BT 203.68 636.25 Td (other ) Tj ET Q q 0 0 0 rg BT 227.87 636.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 278.73 636.25 Td (and ) Tj ET Q q 0 0 0 rg BT 296.81 636.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 318.79 636.25 Td (ventures ) Tj ET Q q 0 0 0 rg BT 356.31 636.25 Td (of ) Tj ET Q q 0 0 0 rg BT 368.28 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 384.14 636.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 426.67 636.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 445.85 636.25 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 503.36 636.25 Td (Subsidiaries\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 624.25 Td (collectively) Tj ET Q q 0 0 0 rg BT 95.50 624.25 Td (. ) Tj ET Q q 0 0 0 rg BT 101.34 624.25 Td ( ) Tj ET Q q 0 0 0 rg BT 104.68 624.25 Td (Each ) Tj ET Q q 0 0 0 rg BT 128.01 624.25 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 171.89 624.25 Td (Subsidiary ) Tj ET Q q 0 0 0 rg BT 218.01 624.25 Td (is ) Tj ET Q q 0 0 0 rg BT 228.02 624.25 Td (a ) Tj ET Q q 0 0 0 rg BT 235.80 624.25 Td (direct ) Tj ET Q q 0 0 0 rg BT 261.91 624.25 Td (or ) Tj ET Q q 0 0 0 rg BT 273.58 624.25 Td (indirect ) Tj ET Q q 0 0 0 rg BT 307.46 624.25 Td (100%-owned ) Tj ET Q q 0 0 0 rg BT 364.13 624.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 408.58 624.25 Td (of ) Tj ET Q q 0 0 0 rg BT 420.25 624.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 438.59 624.25 Td (Homes, ) Tj ET Q q 0 0 0 rg BT 472.76 624.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 491.38 624.25 Td (and ) Tj ET Q q 0 0 0 rg BT 509.16 624.25 Td (has ) Tj ET Q q 0 0 0 rg BT 525.83 624.25 Td (fully ) Tj ET Q q 0 0 0 rg BT 548.06 624.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 612.25 Td (unconditionally ) Tj ET Q q 0 0 0 rg BT 114.62 612.25 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 160.83 612.25 Td (the ) Tj ET Q q 0 0 0 rg BT 175.40 612.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 189.41 612.25 Td (2025 ) Tj ET Q q 0 0 0 rg BT 211.76 612.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 240.22 612.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 265.90 612.25 Td (on ) Tj ET Q q 0 0 0 rg BT 278.25 612.25 Td (a ) Tj ET Q q 0 0 0 rg BT 285.04 612.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 305.73 612.25 Td (and ) Tj ET Q q 0 0 0 rg BT 322.52 612.25 Td (several ) Tj ET Q q 0 0 0 rg BT 353.19 612.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 379.98 612.25 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 422.86 612.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 445.22 612.25 Td (and ) Tj ET Q q 0 0 0 rg BT 462.00 612.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 476.02 612.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 498.37 612.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 526.83 612.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 552.51 612.25 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 600.25 Td (a ) Tj ET Q q 0 0 0 rg BT 56.44 600.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 77.27 600.25 Td (and ) Tj ET Q q 0 0 0 rg BT 94.21 600.25 Td (several ) Tj ET Q q 0 0 0 rg BT 125.03 600.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 151.97 600.25 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 195.00 600.25 Td (basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 578.25 Td (There ) Tj ET Q q 0 0 0 rg BT 75.55 578.25 Td (are ) Tj ET Q q 0 0 0 rg BT 90.50 578.25 Td (no ) Tj ET Q q 0 0 0 rg BT 103.24 578.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 148.19 578.25 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 195.36 578.25 Td (on ) Tj ET Q q 0 0 0 rg BT 208.10 578.25 Td (the ) Tj ET Q q 0 0 0 rg BT 223.05 578.25 Td (parent ) Tj ET Q q 0 0 0 rg BT 250.78 578.25 Td (company) Tj ET Q q 0 0 0 rg BT 290.21 578.25 Td (s ) Tj ET Q q 0 0 0 rg BT 296.84 578.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 325.13 578.25 Td (to ) Tj ET Q q 0 0 0 rg BT 335.65 578.25 Td (obtain ) Tj ET Q q 0 0 0 rg BT 363.38 578.25 Td (funds ) Tj ET Q q 0 0 0 rg BT 388.34 578.25 Td (from ) Tj ET Q q 0 0 0 rg BT 410.52 578.25 Td (its ) Tj ET Q q 0 0 0 rg BT 422.70 578.25 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 465.98 578.25 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 517.60 578.25 Td (in ) Tj ET Q q 0 0 0 rg BT 528.12 578.25 Td (the ) Tj ET Q q 0 0 0 rg BT 543.08 578.25 Td (form ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 566.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 566.25 Td (a ) Tj ET Q q 0 0 0 rg BT 67.27 566.25 Td (dividend, ) Tj ET Q q 0 0 0 rg BT 107.26 566.25 Td (loan, ) Tj ET Q q 0 0 0 rg BT 129.48 566.25 Td (or ) Tj ET Q q 0 0 0 rg BT 140.31 566.25 Td (other ) Tj ET Q q 0 0 0 rg BT 163.36 566.25 Td (means. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 544.25 Td (As ) Tj ET Q q 0 0 0 rg BT 63.68 544.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.07 544.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 111.47 544.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.47 544.25 Td (, ) Tj ET Q q 0 0 0 rg BT 137.03 544.25 Td (each ) Tj ET Q q 0 0 0 rg BT 158.41 544.25 Td (of ) Tj ET Q q 0 0 0 rg BT 169.80 544.25 Td (the ) Tj ET Q q 0 0 0 rg BT 185.08 544.25 Td (Company) Tj ET Q q 0 0 0 rg BT 226.75 544.25 Td (s ) Tj ET Q q 0 0 0 rg BT 233.70 544.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 283.98 544.25 Td (is ) Tj ET Q q 0 0 0 rg BT 293.72 544.25 Td (a ) Tj ET Q q 0 0 0 rg BT 301.22 544.25 Td (Guarantor ) Tj ET Q q 0 0 0 rg BT 344.82 544.25 Td (Subsidiary) Tj ET Q q 0 0 0 rg BT 386.95 544.25 Td (, ) Tj ET Q q 0 0 0 rg BT 392.52 544.25 Td (with ) Tj ET Q q 0 0 0 rg BT 413.36 544.25 Td (the ) Tj ET Q q 0 0 0 rg BT 428.64 544.25 Td (exception ) Tj ET Q q 0 0 0 rg BT 470.57 544.25 Td (of ) Tj ET Q q 0 0 0 rg BT 481.97 544.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 532.25 544.25 Td (that ) Tj ET Q q 0 0 0 rg BT 550.31 544.25 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 532.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 88.42 532.25 Td (engaged ) Tj ET Q q 0 0 0 rg BT 123.44 532.25 Td (in ) Tj ET Q q 0 0 0 rg BT 132.92 532.25 Td (the ) Tj ET Q q 0 0 0 rg BT 146.84 532.25 Td (business ) Tj ET Q q 0 0 0 rg BT 182.43 532.25 Td (of ) Tj ET Q q 0 0 0 rg BT 192.47 532.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 231.94 532.25 Td (financing, ) Tj ET Q q 0 0 0 rg BT 273.90 532.25 Td (title ) Tj ET Q q 0 0 0 rg BT 291.16 532.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 331.18 532.25 Td (or ) Tj ET Q q 0 0 0 rg BT 341.21 532.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 370.69 532.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 407.38 532.25 Td (businesses ) Tj ET Q q 0 0 0 rg BT 451.30 532.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 483.55 532.25 Td (to ) Tj ET Q q 0 0 0 rg BT 493.03 532.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.95 532.25 Td (homebuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (and ) Tj ET Q q 0 0 0 rg BT 65.51 520.25 Td (home ) Tj ET Q q 0 0 0 rg BT 89.29 520.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 110.30 520.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 148.25 520.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 177.02 520.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 225.81 520.25 Td (that ) Tj ET Q q 0 0 0 rg BT 242.37 520.25 Td (are ) Tj ET Q q 0 0 0 rg BT 256.15 520.25 Td (not ) Tj ET Q q 0 0 0 rg BT 270.49 520.25 Td (100%-owned ) Tj ET Q q 0 0 0 rg BT 325.38 520.25 Td (by ) Tj ET Q q 0 0 0 rg BT 336.95 520.25 Td (the ) Tj ET Q q 0 0 0 rg BT 350.73 520.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 391.18 520.25 Td (or ) Tj ET Q q 0 0 0 rg BT 401.08 520.25 Td (another ) Tj ET Q q 0 0 0 rg BT 432.63 520.25 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 473.09 520.25 Td (, ) Tj ET Q q 0 0 0 rg BT 477.16 520.25 Td (and ) Tj ET Q q 0 0 0 rg BT 493.17 520.25 Td (other ) Tj ET Q q 0 0 0 rg BT 515.28 520.25 Td (subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.25 Td (designated ) Tj ET Q q 0 0 0 rg BT 96.68 508.25 Td (by ) Tj ET Q q 0 0 0 rg BT 111.09 508.25 Td (the ) Tj ET Q q 0 0 0 rg BT 127.72 508.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 171.02 508.25 Td (as ) Tj ET Q q 0 0 0 rg BT 183.76 508.25 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 237.60 508.25 Td (Subsidiaries, ) Tj ET Q q 0 0 0 rg BT 293.40 508.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 326.13 508.25 Td (to ) Tj ET Q q 0 0 0 rg BT 338.32 508.25 Td (limitations ) Tj ET Q q 0 0 0 rg BT 385.52 508.25 Td (on ) Tj ET Q q 0 0 0 rg BT 399.93 508.25 Td (the ) Tj ET Q q 0 0 0 rg BT 416.56 508.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 459.83 508.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 494.24 508.25 Td (invested ) Tj ET Q q 0 0 0 rg BT 531.98 508.25 Td (in ) Tj ET Q q 0 0 0 rg BT 544.17 508.25 Td (such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.25 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 101.54 496.25 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 153.04 496.25 Td (in ) Tj ET Q q 0 0 0 rg BT 163.43 496.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 211.00 496.25 Td (with ) Tj ET Q q 0 0 0 rg BT 231.39 496.25 Td (the ) Tj ET Q q 0 0 0 rg BT 246.22 496.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 271.05 496.25 Td (of ) Tj ET Q q 0 0 0 rg BT 281.99 496.25 Td (the ) Tj ET Q q 0 0 0 rg BT 296.82 496.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 324.43 496.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 357.59 496.25 Td (and ) Tj ET Q q 0 0 0 rg BT 374.64 496.25 Td (the ) Tj ET Q q 0 0 0 rg BT 389.47 496.25 Td (indenture ) Tj ET Q q 0 0 0 rg BT 429.85 496.25 Td (governing ) Tj ET Q q 0 0 0 rg BT 473.01 496.25 Td (the ) Tj ET Q q 0 0 0 rg BT 487.83 496.25 Td (2025 ) Tj ET Q q 0 0 0 rg BT 510.45 496.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 539.17 496.25 Td (Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 484.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 484.25 Td (the ) Tj ET Q q 0 0 0 rg BT 81.16 484.25 Td (indenture ) Tj ET Q q 0 0 0 rg BT 121.42 484.25 Td (governing ) Tj ET Q q 0 0 0 rg BT 164.47 484.25 Td (the ) Tj ET Q q 0 0 0 rg BT 179.18 484.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 201.68 484.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 230.29 484.25 Td (Notes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.01 462.25 Td (the ) Tj ET Q q 0 0 0 rg BT 74.40 462.25 Td (condensed ) Tj ET Q q 0 0 0 rg BT 118.78 462.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 155.94 462.25 Td (tables ) Tj ET Q q 0 0 0 rg BT 181.44 462.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 221.93 462.25 Td (below) Tj ET Q q 0 0 0 rg BT 245.72 462.25 Td (, ) Tj ET Q q 0 0 0 rg BT 250.39 462.25 Td (the ) Tj ET Q q 0 0 0 rg BT 264.78 462.25 Td (parent ) Tj ET Q q 0 0 0 rg BT 291.94 462.25 Td (company ) Tj ET Q q 0 0 0 rg BT 330.77 462.25 Td (presents ) Tj ET Q q 0 0 0 rg BT 365.72 462.25 Td (all ) Tj ET Q q 0 0 0 rg BT 377.89 462.25 Td (of ) Tj ET Q q 0 0 0 rg BT 388.39 462.25 Td (its ) Tj ET Q q 0 0 0 rg BT 400.02 462.25 Td (100%-owned ) Tj ET Q q 0 0 0 rg BT 455.51 462.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 504.91 462.25 Td (as ) Tj ET Q q 0 0 0 rg BT 515.41 462.25 Td (if ) Tj ET Q q 0 0 0 rg BT 523.69 462.25 Td (they ) Tj ET Q q 0 0 0 rg BT 543.09 462.25 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.25 Td (accounted ) Tj ET Q q 0 0 0 rg BT 92.03 450.25 Td (for ) Tj ET Q q 0 0 0 rg BT 105.68 450.25 Td (under ) Tj ET Q q 0 0 0 rg BT 130.45 450.25 Td (the ) Tj ET Q q 0 0 0 rg BT 144.66 450.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 171.65 450.25 Td (method. ) Tj ET Q q 0 0 0 rg BT 206.14 450.25 Td ( ) Tj ET Q q 0 0 0 rg BT 207.70 450.25 Td (All ) Tj ET Q q 0 0 0 rg BT 222.47 450.25 Td (applicable ) Tj ET Q q 0 0 0 rg BT 265.56 450.25 Td (corporate ) Tj ET Q q 0 0 0 rg BT 305.31 450.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 343.40 450.25 Td (have ) Tj ET Q q 0 0 0 rg BT 364.28 450.25 Td (been ) Tj ET Q q 0 0 0 rg BT 385.15 450.25 Td (allocated ) Tj ET Q q 0 0 0 rg BT 423.23 450.25 Td (appropriately ) Tj ET Q q 0 0 0 rg BT 478.54 450.25 Td (among ) Tj ET Q q 0 0 0 rg BT 507.75 450.25 Td (the ) Tj ET Q q 0 0 0 rg BT 521.97 450.25 Td (Guarantor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.25 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 100.89 438.25 Td (and ) Tj ET Q q 0 0 0 rg BT 117.83 438.25 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 169.75 438.25 Td (Subsidiaries.) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (26) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 706.5 m 324 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 706.5 m 384 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 706.5 m 449 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 706.5 m 504 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 706.5 m 562 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 685.5 m 246 685.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 685.5 m 258 685.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 685.5 m 324 685.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 685.5 m 384 685.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 685.5 m 449 685.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 685.5 m 504 685.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 685.5 m 562 685.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 587.5 m 246 587.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 574.5 m 246 574.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 587.5 m 258 587.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 574.5 m 258 574.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 587.5 m 324 587.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 574.5 m 324 574.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 587.5 m 384 587.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 574.5 m 384 574.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 587.5 m 449 587.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 574.5 m 449 574.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 587.5 m 504 587.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 574.5 m 504 574.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 587.5 m 562 587.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 574.5 m 562 574.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 518.5 m 246 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 518.5 m 258 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 518.5 m 324 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 518.5 m 384 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 518.5 m 449 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 518.5 m 504 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 518.5 m 562 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 498.5 m 246 498.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 498.5 m 258 498.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 498.5 m 324 498.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 498.5 m 384 498.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 498.5 m 449 498.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 498.5 m 504 498.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 498.5 m 562 498.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 133.05 737.18 Td (UNAUDITED CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 321.22 737.18 Td (TING ST) Tj ET Q q 0 0 0 rg BT 360.77 737.18 Td (A) Tj ET Q q 0 0 0 rg BT 367.25 737.18 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 432.17 737.18 Td ( INCOME) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.85 710.73 Td (Thr) Tj ET Q q 0 0 0 rg BT 362.11 710.73 Td (ee Months Ended June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 689.75 Td (\(In thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.70 689.73 Td (M/I Homes, Inc.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.10 697.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.60 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 697.73 Td (Unr) Tj ET Q q 0 0 0 rg BT 408.21 697.73 Td (estricted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.10 689.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.20 689.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.05 689.73 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 669.75 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 260.50 669.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 669.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.50 669.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 669.73 Td (546,222) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.50 669.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.80 669.73 Td (1) Tj ET Q q 0 0 0 rg BT 427.80 669.73 Td (1,876) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 669.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 669.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.50 669.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 669.73 Td (558,098) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 656.75 Td (Costs and expenses:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 643.75 Td (Land and housing) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 643.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 643.73 Td (449,336) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.80 643.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 643.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 643.73 Td (449,336) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 630.75 Td (General and administrative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 630.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.80 630.73 Td (28,570) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.80 630.73 Td (6,096) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 630.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 630.73 Td (34,666) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 617.75 Td (Selling) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 617.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.80 617.73 Td (35,591) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.80 617.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 617.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 617.73 Td (35,591) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 604.75 Td (Equity in loss from joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 604.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 604.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.80 604.73 Td (86) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 604.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 604.73 Td (86) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 591.75 Td (Interest) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 591.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.80 591.73 Td (4,193) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 591.73 Td (695) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 591.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.80 591.73 Td (4,888) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 578.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 578.75 Td (otal costs and expenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 578.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 578.73 Td (517,690) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.80 578.73 Td (6,877) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 578.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 578.73 Td (524,567) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 558.75 Td (Income before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 558.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.80 558.73 Td (28,532) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.80 558.73 Td (4,999) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 558.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 558.73 Td (33,531) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 540.75 Td (Provision for income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 540.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.80 540.73 Td (4,552) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.80 540.73 Td (1,068) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 540.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.80 540.73 Td (5,620) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 522.75 Td (Equity in subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.80 522.73 Td (27,91) Tj ET Q q 0 0 0 rg BT 316.80 522.73 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 522.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.80 522.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 522.73 Td (\(27,91) Tj ET Q q 0 0 0 rg BT 496.76 522.73 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.80 522.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 522.73 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 502.75 Td (Net income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 260.50 502.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.80 502.73 Td (27,91) Tj ET Q q 0 0 0 rg BT 316.80 502.73 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.50 502.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.80 502.73 Td (23,980) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.50 502.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.80 502.73 Td (3,931) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 502.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 502.73 Td (\(27,91) Tj ET Q q 0 0 0 rg BT 496.76 502.73 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.80 502.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.50 502.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 502.73 Td (27,91) Tj ET Q q 0 0 0 rg BT 554.80 502.73 Td (1) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 475.5 m 324 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 475.5 m 384 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 475.5 m 449 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 475.5 m 504 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 475.5 m 562 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 454.5 m 246 454.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 454.5 m 258 454.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 454.5 m 324 454.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 454.5 m 384 454.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 454.5 m 449 454.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 454.5 m 504 454.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 454.5 m 562 454.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 356.5 m 246 356.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 343.5 m 246 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 356.5 m 258 356.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 343.5 m 258 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 356.5 m 324 356.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 343.5 m 324 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 356.5 m 384 356.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 343.5 m 384 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 356.5 m 449 356.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 343.5 m 449 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 356.5 m 504 356.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 343.5 m 504 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 356.5 m 562 356.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 343.5 m 562 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 287.5 m 246 287.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 287.5 m 258 287.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 287.5 m 324 287.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 287.5 m 384 287.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 287.5 m 449 287.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 287.5 m 504 287.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 287.5 m 562 287.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 267.5 m 246 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 267.5 m 258 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 267.5 m 324 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 267.5 m 384 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 267.5 m 449 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 267.5 m 504 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 267.5 m 562 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 267.5 m 246 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 267.5 m 258 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 267.5 m 324 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 267.5 m 384 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 267.5 m 449 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 267.5 m 504 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 267.5 m 562 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 227.5 m 246 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 227.5 m 258 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 227.5 m 324 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 227.5 m 384 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 227.5 m 449 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 227.5 m 504 227.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 227.5 m 562 227.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.35 479.75 Td (Three Months Ended June 30, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 458.75 Td (\(In thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.05 458.75 Td (M/I Homes, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.25 466.75 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.90 458.75 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.20 466.75 Td (Unrestricted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.40 458.75 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.55 458.75 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.35 458.75 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 438.75 Td (Revenue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.50 438.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 438.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.50 438.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.15 438.75 Td (444,998) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 438.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 438.75 Td (1) Tj ET Q q 0 0 0 rg BT 427.80 438.75 Td (1,868) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 438.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 438.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.50 438.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 438.75 Td (456,866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 425.75 Td (Costs and expenses:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 412.75 Td (Land and housing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 412.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.15 412.75 Td (367,598) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 412.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 412.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 412.75 Td (367,598) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 399.75 Td (General and administrative) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 399.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 399.75 Td (24,915) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 399.75 Td (5,197) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 399.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 399.75 Td (30,1) Tj ET Q q 0 0 0 rg BT 550.80 399.75 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 386.75 Td (Selling) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 386.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 386.75 Td (30,247) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 386.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 386.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 386.75 Td (30,247) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 373.75 Td (Equity in income from joint venture arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 373.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.15 373.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.10 373.75 Td (\(1) Tj ET Q q 0 0 0 rg BT 437.76 373.75 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.80 373.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 373.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 373.75 Td (\(1) Tj ET Q q 0 0 0 rg BT 550.76 373.75 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 373.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 360.75 Td (Interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 360.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 360.75 Td (3,169) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.80 360.75 Td (665) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 360.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 360.75 Td (3,834) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 347.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 347.75 Td (otal costs and expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 347.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.15 347.75 Td (425,929) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 347.75 Td (5,752) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 347.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 347.75 Td (431,681) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 327.75 Td (Income before income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 327.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 327.75 Td (19,069) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 327.75 Td (6,1) Tj ET Q q 0 0 0 rg BT 437.80 327.75 Td (16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 327.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 327.75 Td (25,185) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 309.75 Td (Provision for income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 309.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 309.75 Td (6,246) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 309.75 Td (1,950) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 309.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 309.75 Td (8,196) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 291.75 Td (Equity in subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 291.75 Td (16,989) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.15 291.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 291.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 291.75 Td (\(16,989) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 291.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 291.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 271.75 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 271.75 Td (16,989) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 271.75 Td (12,823) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 271.75 Td (4,166) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 271.75 Td (\(16,989) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 271.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 271.75 Td (16,989) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 251.75 Td (Preferred dividends) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.80 251.75 Td (1,219) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.15 251.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 251.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 251.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 251.75 Td (1,219) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 231.75 Td (Net income available to common shareholders) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.50 231.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 231.75 Td (15,770) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.50 231.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 231.75 Td (12,823) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 231.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 231.75 Td (4,166) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 231.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 231.75 Td (\(16,989) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 231.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.50 231.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 231.75 Td (15,770) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (27) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 733.5 m 324 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 733.5 m 384 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 733.5 m 449 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 733.5 m 504 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 733.5 m 562 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 712.5 m 246 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 712.5 m 258 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 712.5 m 324 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 712.5 m 384 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 712.5 m 449 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 712.5 m 504 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 712.5 m 562 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 601.5 m 246 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 588.5 m 246 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 601.5 m 258 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 588.5 m 258 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 601.5 m 324 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 588.5 m 324 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 601.5 m 384 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 588.5 m 384 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 601.5 m 449 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 588.5 m 449 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 601.5 m 504 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 588.5 m 504 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 601.5 m 562 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 588.5 m 562 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 532.5 m 246 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 532.5 m 258 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 532.5 m 324 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 532.5 m 384 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 532.5 m 449 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 532.5 m 504 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 532.5 m 562 532.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 514.5 m 246 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 514.5 m 258 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 514.5 m 324 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 514.5 m 384 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 514.5 m 449 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 514.5 m 504 514.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 514.5 m 562 514.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.70 737.73 Td (Six Months Ended June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 716.75 Td (\(In thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.70 716.73 Td (M/I Homes, Inc.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.10 724.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.60 716.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 724.73 Td (Unr) Tj ET Q q 0 0 0 rg BT 408.21 724.73 Td (estricted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.10 716.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.20 716.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.05 716.73 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 696.75 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 260.50 696.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 696.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.50 696.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 696.73 Td (969,053) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.50 696.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.80 696.73 Td (26,902) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 696.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 696.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.50 696.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 696.73 Td (995,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 683.75 Td (Costs and expenses:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 670.75 Td (Land and housing) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 670.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 670.73 Td (798,038) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.80 670.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 670.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 670.73 Td (798,038) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 657.75 Td (General and administrative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 657.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.80 657.73 Td (50,741) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.80 657.73 Td (1) Tj ET Q q 0 0 0 rg BT 427.80 657.73 Td (1,876) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 657.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 657.73 Td (62,617) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 644.75 Td (Selling) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 644.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.80 644.73 Td (65,654) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.80 644.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 644.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 644.73 Td (65,654) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 631.75 Td (Acquisition and integration costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 631.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.80 631.73 Td (1,700) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.80 631.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 631.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.80 631.73 Td (1,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 618.75 Td (Equity in income from joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 618.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 618.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.10 618.73 Td (\(224) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.80 618.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 618.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.10 618.73 Td (\(224) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 618.73 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 605.75 Td (Interest) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 605.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.80 605.73 Td (9,301) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.80 605.73 Td (1,465) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 605.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 605.73 Td (10,766) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 592.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 592.75 Td (otal costs and expenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 592.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 592.73 Td (925,434) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.80 592.73 Td (13,1) Tj ET Q q 0 0 0 rg BT 437.80 592.73 Td (17) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 592.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 592.73 Td (938,551) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 572.75 Td (Income before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 572.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.80 572.73 Td (43,619) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.80 572.73 Td (13,785) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 572.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 572.73 Td (57,404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 554.75 Td (Provision for income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.80 554.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.80 554.73 Td (8,458) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.80 554.73 Td (2,972) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.80 554.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 554.73 Td (1) Tj ET Q q 0 0 0 rg BT 540.80 554.73 Td (1,430) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 536.75 Td (Equity in subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.80 536.73 Td (45,974) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 536.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.80 536.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 536.73 Td (\(45,974) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.80 536.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 536.73 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 518.75 Td (Net income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 260.50 518.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.80 518.73 Td (45,974) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.50 518.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.80 518.73 Td (35,161) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.50 518.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.80 518.73 Td (10,813) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 518.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 518.73 Td (\(45,974) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.80 518.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.50 518.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.80 518.73 Td (45,974) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 479.5 m 324 479.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 479.5 m 384 479.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 479.5 m 449 479.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 479.5 m 504 479.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 479.5 m 562 479.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 458.5 m 246 458.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 458.5 m 258 458.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 458.5 m 324 458.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 458.5 m 384 458.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 458.5 m 449 458.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 458.5 m 504 458.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 458.5 m 562 458.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 360.5 m 246 360.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 347.5 m 246 347.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 360.5 m 258 360.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 347.5 m 258 347.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 360.5 m 324 360.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 347.5 m 324 347.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 360.5 m 384 360.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 347.5 m 384 347.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 360.5 m 449 360.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 347.5 m 449 347.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 360.5 m 504 360.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 347.5 m 504 347.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 360.5 m 562 360.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 347.5 m 562 347.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 291.5 m 246 291.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 291.5 m 258 291.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 291.5 m 324 291.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 291.5 m 384 291.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 291.5 m 449 291.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 291.5 m 504 291.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 291.5 m 562 291.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 271.5 m 246 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 271.5 m 258 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 271.5 m 324 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 271.5 m 384 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 271.5 m 449 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 271.5 m 504 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 271.5 m 562 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 231.5 m 246 231.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 231.5 m 258 231.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 231.5 m 324 231.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 231.5 m 384 231.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 231.5 m 449 231.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 231.5 m 504 231.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 231.5 m 562 231.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.35 483.75 Td (Six Months Ended June 30, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 462.75 Td (\(In thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.05 462.75 Td (M/I Homes, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.25 470.75 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.90 462.75 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.20 470.75 Td (Unrestricted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.40 462.75 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.55 462.75 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.35 462.75 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 442.75 Td (Revenue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.50 442.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 442.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.50 442.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.15 442.75 Td (837,671) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 442.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 442.75 Td (26,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 442.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 442.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.50 442.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 442.75 Td (863,846) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 429.75 Td (Costs and expenses:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 416.75 Td (Land and housing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 416.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.15 416.75 Td (687,879) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 416.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 416.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 416.75 Td (687,879) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 403.75 Td (General and administrative) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 403.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 403.75 Td (47,375) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 403.75 Td (10,497) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 403.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 403.75 Td (57,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 390.75 Td (Selling) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 390.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 390.75 Td (57,530) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 390.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 390.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 390.75 Td (57,530) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 377.75 Td (Equity in income from joint venture arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 377.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.15 377.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.10 377.75 Td (\(127) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.80 377.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 377.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 377.75 Td (\(127) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 377.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 364.75 Td (Interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 364.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.15 364.75 Td (7,839) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 364.75 Td (1,333) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 364.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 364.75 Td (9,172) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 351.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 351.75 Td (otal costs and expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 351.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.15 351.75 Td (800,623) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 351.75 Td (1) Tj ET Q q 0 0 0 rg BT 427.80 351.75 Td (1,703) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 351.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 351.75 Td (812,326) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 331.75 Td (Income before income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 331.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 331.75 Td (37,048) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 331.75 Td (14,472) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 331.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 331.75 Td (51,520) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 313.75 Td (Provision for income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.80 313.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 313.75 Td (12,735) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 313.75 Td (4,913) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 313.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 313.75 Td (17,648) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 295.75 Td (Equity in subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 295.75 Td (33,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.15 295.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 295.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 295.75 Td (\(33,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 295.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 295.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 275.75 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 275.75 Td (33,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 275.75 Td (24,313) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 275.75 Td (9,559) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 275.75 Td (\(33,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 275.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 275.75 Td (33,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 255.75 Td (Preferred dividends) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.80 255.75 Td (2,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.15 255.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.80 255.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.80 255.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 255.75 Td (2,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 235.75 Td (Net income available to common shareholders) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.50 235.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 235.75 Td (31,434) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.50 235.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.15 235.75 Td (24,313) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 235.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 427.80 235.75 Td (9,559) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 235.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 235.75 Td (\(33,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.80 235.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.50 235.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 235.75 Td (31,434) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (28) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 707.5 m 337 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 707.5 m 392 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 707.5 m 455 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 707.5 m 508 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 707.5 m 562 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 686.5 m 265 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 686.5 m 272 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 686.5 m 337 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 686.5 m 392 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 686.5 m 455 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 686.5 m 508 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 686.5 m 562 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 534.5 m 265 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 521.5 m 265 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 534.5 m 272 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 521.5 m 272 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 534.5 m 337 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 521.5 m 337 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 534.5 m 392 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 521.5 m 392 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 534.5 m 455 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 521.5 m 455 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 534.5 m 508 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 521.5 m 508 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 534.5 m 562 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 521.5 m 562 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 336.5 m 337 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 336.5 m 392 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 336.5 m 455 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 336.5 m 508 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 336.5 m 562 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 336.5 m 265 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 323.5 m 265 323.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 336.5 m 272 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 323.5 m 272 323.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 336.5 m 337 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 323.5 m 337 323.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 336.5 m 392 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 323.5 m 392 323.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 336.5 m 455 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 323.5 m 455 323.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 336.5 m 508 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 323.5 m 508 323.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 336.5 m 562 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 323.5 m 562 323.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 303.5 m 265 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 303.5 m 272 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 303.5 m 337 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 303.5 m 392 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 303.5 m 455 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 303.5 m 508 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 303.5 m 562 303.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 283.5 m 265 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 283.5 m 272 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 283.5 m 337 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 283.5 m 392 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 283.5 m 455 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 283.5 m 508 283.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 283.5 m 562 283.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.55 737.23 Td (UNAUDITED CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 342.72 737.23 Td (TING BALANCE SHEET) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.25 711.73 Td (June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 690.75 Td (\(In thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 276.20 690.73 Td (M/I Homes, Inc.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.60 698.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.10 690.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.50 698.73 Td (Unr) Tj ET Q q 0 0 0 rg BT 415.21 698.73 Td (estricted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.10 690.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.20 690.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.05 690.73 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 668.75 Td (ASSETS:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 655.75 Td (Cash, cash equivalents and restricted cash) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.50 655.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 655.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.50 655.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.80 655.73 Td (50,673) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 655.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.80 655.73 Td (17,144) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.50 655.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 655.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.50 655.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 655.73 Td (67,817) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 642.75 Td (Mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 642.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.80 642.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.80 642.73 Td (108,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 642.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 642.73 Td (108,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 629.75 Td (Inventory) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 629.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.75 629.73 Td (1,652,468) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 629.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 629.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 629.73 Td (1,652,468) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 616.75 Td (Property and equipment - net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 616.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.80 616.73 Td (27,879) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 616.73 Td (1,006) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 616.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 616.73 Td (28,885) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 603.75 Td (Investment in joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 603.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.80 603.73 Td (1) Tj ET Q q 0 0 0 rg BT 370.80 603.73 Td (1,541) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 603.73 Td (2,212) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 603.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 603.73 Td (13,753) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 590.75 Td (Deferred income tax asset) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 590.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.80 590.73 Td (17,528) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 590.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 590.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 590.73 Td (17,528) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 577.75 Td (Investment in subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.80 577.73 Td (762,731) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.80 577.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 577.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 577.73 Td (\(762,731) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.80 577.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 577.73 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 564.75 Td (Intercompany assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.80 564.73 Td (594,094) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.80 564.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 564.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 564.73 Td (\(594,094) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.80 564.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 564.73 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 551.75 Td (Goodwill) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 551.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.80 551.73 Td (16,400) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 551.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 551.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 551.73 Td (16,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 538.75 Td (Other assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 315.80 538.73 Td (2,784) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.80 538.73 Td (53,935) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 538.73 Td (8,970) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 538.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 538.73 Td (65,689) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 525.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.31 525.75 Td (OT) Tj ET Q q 0 0 0 rg BT 66.59 525.75 Td (AL) Tj ET Q q 0 0 0 rg BT 76.78 525.75 Td ( ) Tj ET Q q 0 0 0 rg BT 78.41 525.75 Td (ASSETS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.50 525.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.80 525.73 Td (1,359,609) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.50 525.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.75 525.73 Td (1,830,424) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 525.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.80 525.73 Td (137,332) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.50 525.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.10 525.73 Td (\(1,356,825) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.80 525.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.50 525.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 525.73 Td (1,970,540) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 503.75 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 99.04 503.75 Td (AND SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 183.64 503.75 Td ( EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 483.75 Td (LIABILITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 470.75 Td (Accounts payable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.50 470.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 470.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.50 470.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.75 470.73 Td (140,663) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 470.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.80 470.73 Td (828) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.50 470.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 470.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.50 470.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 470.73 Td (141,491) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 457.75 Td (Customer deposits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 457.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.80 457.73 Td (41,510) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 457.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 457.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 457.73 Td (41,510) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 444.75 Td (Intercompany liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 444.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.75 444.73 Td (590,943) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 444.73 Td (3,151) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 444.73 Td (\(594,094) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.80 444.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 444.73 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 431.75 Td (Other liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 431.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.75 431.73 Td (1) Tj ET Q q 0 0 0 rg BT 366.75 431.73 Td (1) Tj ET Q q 0 0 0 rg BT 370.75 431.73 Td (1,585) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.80 431.73 Td (5,437) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 431.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 431.73 Td (1) Tj ET Q q 0 0 0 rg BT 536.75 431.73 Td (17,022) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 418.75 Td (Community development district obligations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 418.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.80 418.73 Td (1) Tj ET Q q 0 0 0 rg BT 370.80 418.73 Td (1,789) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 418.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 418.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 418.73 Td (1) Tj ET Q q 0 0 0 rg BT 540.75 418.73 Td (1,789) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 405.75 Td (Obligation for consolidated inventory not owned) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 405.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.80 405.73 Td (14,794) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 405.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 405.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 405.73 Td (14,794) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 392.75 Td (Notes payable bank - homebuilding operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 392.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.75 392.73 Td (181,800) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 392.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 392.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 392.73 Td (181,800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 379.75 Td (Notes payable bank - financial services operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 379.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.80 379.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.80 379.73 Td (93,163) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 379.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 379.73 Td (93,163) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 366.75 Td (Notes payable - other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 366.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 370.80 366.73 Td (9,362) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 366.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 366.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.80 366.73 Td (9,362) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 353.75 Td (Senior notes due 2021 - net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.80 353.73 Td (297,332) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.80 353.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 353.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 353.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 353.73 Td (297,332) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 340.75 Td (Senior notes due 2025 - net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.80 340.73 Td (246,31) Tj ET Q q 0 0 0 rg BT 329.80 340.73 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.80 340.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.80 340.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.80 340.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 340.73 Td (246,31) Tj ET Q q 0 0 0 rg BT 554.75 340.73 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 327.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.31 327.75 Td (OT) Tj ET Q q 0 0 0 rg BT 66.59 327.75 Td (AL) Tj ET Q q 0 0 0 rg BT 76.78 327.75 Td ( LIABILITIES) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.80 327.73 Td (543,643) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.75 327.73 Td (1,102,446) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.80 327.73 Td (102,579) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 327.73 Td (\(594,094) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.80 327.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 327.73 Td (1,154,574) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 307.75 Td (SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 116.98 307.75 Td ( EQUITY) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.80 307.73 Td (815,966) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.75 307.73 Td (727,978) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.80 307.73 Td (34,753) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.10 307.73 Td (\(762,731) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.80 307.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 307.73 Td (815,966) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 287.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.24 287.75 Td (OT) Tj ET Q q 0 0 0 rg BT 66.27 287.75 Td (AL) Tj ET Q q 0 0 0 rg BT 76.63 287.75 Td ( LIABILITIES ) Tj ET Q q 0 0 0 rg BT 125.96 287.75 Td (AND SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 210.48 287.75 Td ( EQUITY) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.50 287.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.80 287.73 Td (1,359,609) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.50 287.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.75 287.73 Td (1,830,424) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.50 287.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.80 287.73 Td (137,332) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.50 287.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.10 287.73 Td (\(1,356,825) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 504.80 287.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.50 287.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 287.73 Td (1,970,540) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (29) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 707.5 m 337 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 707.5 m 392 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 707.5 m 455 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 707.5 m 508 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 707.5 m 562 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 686.5 m 265 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 686.5 m 272 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 686.5 m 337 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 686.5 m 392 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 686.5 m 455 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 686.5 m 508 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 686.5 m 562 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 547.5 m 265 547.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 534.5 m 265 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 547.5 m 272 547.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 534.5 m 272 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 547.5 m 337 547.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 534.5 m 337 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 547.5 m 392 547.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 534.5 m 392 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 547.5 m 455 547.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 534.5 m 455 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 547.5 m 508 547.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 534.5 m 508 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 547.5 m 562 547.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 534.5 m 562 534.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 349.5 m 337 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 349.5 m 392 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 349.5 m 455 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 349.5 m 508 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 349.5 m 562 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 349.5 m 265 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 336.5 m 265 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 349.5 m 272 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 336.5 m 272 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 349.5 m 337 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 336.5 m 337 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 349.5 m 392 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 336.5 m 392 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 349.5 m 455 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 336.5 m 455 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 349.5 m 508 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 336.5 m 508 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 349.5 m 562 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 336.5 m 562 336.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 315.5 m 265 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 315.5 m 272 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 315.5 m 337 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 315.5 m 392 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 315.5 m 455 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 315.5 m 508 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 315.5 m 562 315.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 295.5 m 265 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 295.5 m 272 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 295.5 m 337 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 295.5 m 392 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 295.5 m 455 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 295.5 m 508 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 295.5 m 562 295.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.10 737.23 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 311.21 737.23 Td (TING BALANCE SHEET) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.05 711.75 Td (December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 690.75 Td (\(In thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.55 690.75 Td (M/I Homes, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.75 698.75 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.40 690.75 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.20 698.75 Td (Unrestricted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.40 690.75 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.55 690.75 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.35 690.75 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 668.75 Td (ASSETS:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 655.75 Td (Cash, cash equivalents and restricted cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.50 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 655.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.50 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.75 655.75 Td (131,522) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.50 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.80 655.75 Td (20,181) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.50 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 655.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 655.75 Td (151,703) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 642.75 Td (Mortgage loans held for sale) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 642.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 642.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 642.75 Td (171,580) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 642.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 642.75 Td (171,580) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 629.75 Td (Inventory) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 629.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 629.75 Td (1,414,574) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 629.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 629.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 629.75 Td (1,414,574) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 616.75 Td (Property and equipment - net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 616.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.80 616.75 Td (25,815) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.80 616.75 Td (1,001) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 616.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 616.75 Td (26,816) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 603.75 Td (Investment in joint venture arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 603.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.80 603.75 Td (13,930) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.80 603.75 Td (6,595) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 603.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 603.75 Td (20,525) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 590.75 Td (Deferred income tax asset) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 590.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.80 590.75 Td (18,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 590.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 590.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 590.75 Td (18,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 577.75 Td (Investment in subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 577.75 Td (722,508) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 577.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 577.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 577.75 Td (\(722,508) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 577.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 577.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 564.75 Td (Intercompany assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 564.75 Td (650,599) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 564.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 564.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 564.75 Td (\(650,599) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 564.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 564.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 551.75 Td (Other assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.80 551.75 Td (3,154) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.80 551.75 Td (48,430) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.80 551.75 Td (9,551) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 551.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 551.75 Td (61,135) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 538.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.31 538.75 Td (OT) Tj ET Q q 0 0 0 rg BT 66.59 538.75 Td (AL) Tj ET Q q 0 0 0 rg BT 76.78 538.75 Td ( ) Tj ET Q q 0 0 0 rg BT 78.41 538.75 Td (ASSETS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.50 538.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 538.75 Td (1,376,261) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.50 538.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 538.75 Td (1,652,709) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.50 538.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 538.75 Td (208,908) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.50 538.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.10 538.75 Td (\(1,373,107) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 538.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 538.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 538.75 Td (1,864,771) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 516.75 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 99.04 516.75 Td (AND SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 183.64 516.75 Td ( EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 496.75 Td (LIABILITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 483.75 Td (Accounts payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.50 483.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 483.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.50 483.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.75 483.75 Td (1) Tj ET Q q 0 0 0 rg BT 366.75 483.75 Td (16,773) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.50 483.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 439.80 483.75 Td (460) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.50 483.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 483.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 483.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 483.75 Td (1) Tj ET Q q 0 0 0 rg BT 536.75 483.75 Td (17,233) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 470.75 Td (Customer deposits) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 470.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.80 470.75 Td (26,378) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 470.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 470.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 470.75 Td (26,378) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 457.75 Td (Intercompany liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 457.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.75 457.75 Td (645,048) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.80 457.75 Td (5,551) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 457.75 Td (\(650,599) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 457.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 457.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 444.75 Td (Other liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 444.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.75 444.75 Td (126,522) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.80 444.75 Td (5,012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 444.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 444.75 Td (131,534) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 431.75 Td (Community development district obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 431.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.80 431.75 Td (13,049) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 431.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 431.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 431.75 Td (13,049) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 418.75 Td (Obligation for consolidated inventory not owned) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 418.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.80 418.75 Td (21,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 418.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 418.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 418.75 Td (21,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 405.75 Td (Notes payable bank - financial services operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 405.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 405.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 405.75 Td (168,195) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 405.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 405.75 Td (168,195) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 392.75 Td (Notes payable - other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.80 392.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.80 392.75 Td (10,576) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 392.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 392.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 392.75 Td (10,576) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 379.75 Td (Convertible senior subordinated notes due 2018 - net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.80 379.75 Td (86,132) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 379.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 379.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 379.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 379.75 Td (86,132) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 366.75 Td (Senior notes due 2021 - net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 366.75 Td (296,780) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 366.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 366.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 366.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 366.75 Td (296,780) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 353.75 Td (Senior notes due 2025 - net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 353.75 Td (246,051) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.80 353.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.80 353.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.80 353.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 353.75 Td (246,051) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 340.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.31 340.75 Td (OT) Tj ET Q q 0 0 0 rg BT 66.59 340.75 Td (AL) Tj ET Q q 0 0 0 rg BT 76.78 340.75 Td ( LIABILITIES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 340.75 Td (628,963) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.75 340.75 Td (959,891) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 340.75 Td (179,218) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 340.75 Td (\(650,599) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 340.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 340.75 Td (1,1) Tj ET Q q 0 0 0 rg BT 536.75 340.75 Td (17,473) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 319.75 Td (SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 116.98 319.75 Td ( EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 319.75 Td (747,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.75 319.75 Td (692,818) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.80 319.75 Td (29,690) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.10 319.75 Td (\(722,508) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 319.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 319.75 Td (747,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 299.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.24 299.75 Td (OT) Tj ET Q q 0 0 0 rg BT 66.27 299.75 Td (AL) Tj ET Q q 0 0 0 rg BT 76.63 299.75 Td ( LIABILITIES ) Tj ET Q q 0 0 0 rg BT 125.96 299.75 Td (AND SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 210.48 299.75 Td ( EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.50 299.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.80 299.75 Td (1,376,261) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.50 299.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 299.75 Td (1,652,709) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.50 299.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 299.75 Td (208,908) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.50 299.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.10 299.75 Td (\(1,373,107) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.80 299.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 299.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 299.75 Td (1,864,771) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (30) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 707.5 m 350 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 707.5 m 403 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 707.5 m 456 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 707.5 m 509 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 707.5 m 562 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 686.5 m 297 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 686.5 m 350 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 686.5 m 403 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 686.5 m 456 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 686.5 m 509 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 686.5 m 562 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 669.5 m 297 669.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 659.5 m 297 659.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 669.5 m 350 669.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 659.5 m 350 659.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 669.5 m 403 669.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 659.5 m 403 659.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 669.5 m 456 669.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 659.5 m 456 659.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 669.5 m 509 669.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 659.5 m 509 659.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 669.5 m 562 669.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 659.5 m 562 659.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 581.5 m 297 581.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 571.5 m 297 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 581.5 m 350 581.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 571.5 m 350 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 581.5 m 403 581.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 571.5 m 403 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 581.5 m 456 581.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 571.5 m 456 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 581.5 m 509 581.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 571.5 m 509 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 581.5 m 562 581.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 571.5 m 562 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 463.5 m 297 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 463.5 m 350 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 463.5 m 403 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 463.5 m 456 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 463.5 m 509 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 463.5 m 562 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 463.5 m 297 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 453.5 m 297 453.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 463.5 m 350 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 453.5 m 350 453.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 463.5 m 403 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 453.5 m 403 453.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 463.5 m 456 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 453.5 m 456 453.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 463.5 m 509 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 453.5 m 509 453.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 463.5 m 562 463.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 453.5 m 562 453.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 425.5 m 297 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 415.5 m 297 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 425.5 m 350 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 415.5 m 350 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 425.5 m 403 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 415.5 m 403 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 425.5 m 456 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 415.5 m 456 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 425.5 m 509 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 415.5 m 509 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 425.5 m 562 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 415.5 m 562 415.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.95 737.23 Td (UNAUDITED CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 309.12 737.23 Td (TING ST) Tj ET Q q 0 0 0 rg BT 348.67 737.23 Td (A) Tj ET Q q 0 0 0 rg BT 355.15 737.23 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 420.07 737.23 Td ( CASH FLOWS) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.20 711.73 Td (Six Months Ended June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 690.75 Td (\(In thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 302.75 698.73 Td (M/I Homes,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 316.40 690.73 Td (Inc.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.60 698.73 Td (Guarantor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.10 690.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.50 698.73 Td (Unr) Tj ET Q q 0 0 0 rg BT 421.21 698.73 Td (estricted) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.10 690.73 Td (Subsidiaries) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.20 690.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.55 690.73 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 671.50 Td (OPERA) Tj ET Q q 0 0 0 rg BT 77.28 671.50 Td (TING ) Tj ET Q q 0 0 0 rg BT 97.72 671.50 Td (ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 661.50 Td (Net cash provided by \(used in\) operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.50 661.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.80 661.63 Td (5,750) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.50 661.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.10 661.63 Td (\(95,387) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 661.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.50 661.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.75 661.63 Td (75,686) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.50 661.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.10 661.63 Td (\(5,750) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.80 661.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.50 661.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.10 661.63 Td (\(19,701) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 661.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 643.50 Td (INVESTING ) Tj ET Q q 0 0 0 rg BT 95.94 643.50 Td (ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 633.50 Td (Purchase of property and equipment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 633.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.10 633.63 Td (\(4,449) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 633.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.10 633.63 Td (\(166) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.80 633.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 633.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.10 633.63 Td (\(4,615) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 633.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 623.50 Td (Acquisition) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 623.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.10 623.63 Td (\(100,960) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 623.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.80 623.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 623.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 623.63 Td (\(100,960) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 623.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 613.50 Td (Intercompany investing) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.10 613.63 Td (\(6,176) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.80 613.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.80 613.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.80 613.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.80 613.63 Td (6,176) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 613.63 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 603.50 Td (Investments in and advances to joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 603.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.10 603.63 Td (\(3,485) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 603.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.10 603.63 Td (\(836) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.80 603.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 603.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.10 603.63 Td (\(4,321) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 603.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 593.50 Td (Return of capital from unconsolidated joint ventures) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 593.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.80 593.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.80 593.63 Td (676) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 593.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.80 593.63 Td (676) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 583.50 Td (Net proceeds from the sale of mortgage servicing rights) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 583.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.80 583.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 434.80 583.63 Td (5,1) Tj ET Q q 0 0 0 rg BT 444.80 583.63 Td (1) Tj ET Q q 0 0 0 rg BT 448.80 583.63 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 583.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.80 583.63 Td (5,1) Tj ET Q q 0 0 0 rg BT 550.80 583.63 Td (1) Tj ET Q q 0 0 0 rg BT 554.80 583.63 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 573.50 Td (Net cash \(used in\) provided by investing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.10 573.63 Td (\(6,176) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.80 573.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.10 573.63 Td (\(108,894) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 573.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 434.80 573.63 Td (4,785) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.80 573.63 Td (6,176) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 573.63 Td (\(104,109) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 573.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 555.50 Td (FINANCING ) Tj ET Q q 0 0 0 rg BT 97.28 555.50 Td (ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 545.50 Td (Repayment of convertible senior subordinated notes due 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 545.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.10 545.63 Td (\(65,941) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 545.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.80 545.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 545.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.10 545.63 Td (\(65,941) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 545.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 535.50 Td (Proceeds from bank borrowings - homebuilding operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 535.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.75 535.63 Td (353,900) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.80 535.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 535.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 535.63 Td (353,900) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 525.50 Td (Principal repayments of bank borrowings - homebuilding operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 525.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.10 525.63 Td (\(172,100) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 525.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.80 525.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 525.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.10 525.63 Td (\(172,100) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 525.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 515.50 Td (Net repayments of bank borrowings - financial services operations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 515.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.80 515.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.10 515.63 Td (\(75,032) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.80 515.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 515.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.10 515.63 Td (\(75,032) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 515.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 505.50 Td (Principal repayment of notes payable - other and CDD bond obligations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 505.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 379.10 505.63 Td (\(1,214) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 505.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.80 505.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 505.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.10 505.63 Td (\(1,214) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 505.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 495.50 Td (Proceeds from exercise of stock options) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.80 495.63 Td (426) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.80 495.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.80 495.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 495.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 546.80 495.63 Td (426) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 485.50 Td (Intercompany financing) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 485.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.80 485.63 Td (8,862) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.10 485.63 Td (\(2,686) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.80 485.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.10 485.63 Td (\(6,176) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.80 485.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 485.63 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 475.50 Td (Dividends paid) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 475.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.80 475.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.10 475.63 Td (\(5,750) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.80 475.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.80 475.63 Td (5,750) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 550.80 475.63 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 465.50 Td (Debt issue costs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 465.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.10 465.63 Td (\(75) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 465.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.10 465.63 Td (\(40) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.80 465.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 465.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 544.10 465.63 Td (\(1) Tj ET Q q 0 0 0 rg BT 550.76 465.63 Td (15) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 465.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 455.50 Td (Net cash provided by \(used in\) financing activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.80 455.63 Td (426) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.75 455.63 Td (123,432) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.10 455.63 Td (\(83,508) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.80 455.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 491.10 455.63 Td (\(426) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.80 455.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 455.63 Td (39,924) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 437.50 Td (Net decrease in cash, cash equivalents and restricted cash) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 437.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.10 437.63 Td (\(80,849) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.80 437.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.10 437.63 Td (\(3,037) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.80 437.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 437.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 534.10 437.63 Td (\(83,886) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.80 437.63 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 427.50 Td (Cash, cash equivalents and restricted cash balance at beginning of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 427.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.75 427.63 Td (131,522) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.75 427.63 Td (20,181) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 427.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 427.63 Td (151,703) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 417.50 Td (Cash, cash equivalents and restricted cash balance at end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.50 417.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.80 417.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 352.50 417.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.75 417.63 Td (50,673) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.50 417.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.75 417.63 Td (17,144) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.50 417.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 417.63 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.50 417.63 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 417.63 Td (67,817) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 380.5 m 350 380.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 380.5 m 403 380.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 380.5 m 456 380.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 380.5 m 509 380.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 380.5 m 562 380.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 359.5 m 297 359.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 359.5 m 350 359.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 359.5 m 403 359.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 359.5 m 456 359.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 359.5 m 509 359.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 359.5 m 562 359.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 342.5 m 297 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 329.5 m 297 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 342.5 m 350 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 329.5 m 350 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 342.5 m 403 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 329.5 m 403 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 342.5 m 456 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 329.5 m 456 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 342.5 m 509 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 329.5 m 509 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 342.5 m 562 342.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 329.5 m 562 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 261.5 m 297 261.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 248.5 m 297 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 261.5 m 350 261.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 248.5 m 350 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 261.5 m 403 261.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 248.5 m 403 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 261.5 m 456 261.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 248.5 m 456 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 261.5 m 509 261.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 248.5 m 509 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 261.5 m 562 261.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 248.5 m 562 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 150.5 m 297 150.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 140.5 m 297 140.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 150.5 m 350 150.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 140.5 m 350 140.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 150.5 m 403 150.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 140.5 m 403 140.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 150.5 m 456 150.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 140.5 m 456 140.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 150.5 m 509 150.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 140.5 m 509 140.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 150.5 m 562 150.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 140.5 m 562 140.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 112.5 m 350 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 112.5 m 403 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 112.5 m 456 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 112.5 m 509 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 112.5 m 562 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 112.5 m 297 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 102.5 m 297 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 112.5 m 350 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 102.5 m 350 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 112.5 m 403 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 102.5 m 403 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 112.5 m 456 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 102.5 m 456 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 112.5 m 509 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 102.5 m 509 102.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 112.5 m 562 112.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 102.5 m 562 102.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.85 384.75 Td (Six Months Ended June 30, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 363.75 Td (\(In thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.65 371.75 Td (M/I Homes,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.85 363.75 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.75 371.75 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.40 363.75 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.20 371.75 Td (Unrestricted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.40 363.75 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.55 363.75 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.85 363.75 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 344.50 Td (OPERA) Tj ET Q q 0 0 0 rg BT 77.28 344.50 Td (TING ) Tj ET Q q 0 0 0 rg BT 97.72 344.50 Td (ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 333.75 Td (Net cash provided by \(used in\) operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.50 333.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.80 333.75 Td (5,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 333.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.10 333.75 Td (\(120,894) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.80 333.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.50 333.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.75 333.75 Td (81,574) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.50 333.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.10 333.75 Td (\(5,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.80 333.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 333.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 333.75 Td (\(39,320) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 333.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 313.50 Td (INVESTING ) Tj ET Q q 0 0 0 rg BT 95.94 313.50 Td (ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 303.50 Td (Purchase of property and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 303.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.10 303.50 Td (\(1,785) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.80 303.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.10 303.50 Td (\(87) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 303.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 303.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 303.50 Td (\(1,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 303.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 293.50 Td (Intercompany Investing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.10 293.50 Td (\(7,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.80 293.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 293.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.80 293.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.80 293.50 Td (7,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 293.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 283.50 Td (Investments in and advances to joint venture arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 283.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.10 283.50 Td (\(2,128) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.80 283.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.10 283.50 Td (\(3,679) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 283.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 283.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 283.50 Td (\(5,807) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 283.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 273.50 Td (Return of capital from unconsolidated joint ventures) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 273.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 273.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.80 273.50 Td (1,078) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 273.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 273.50 Td (1,078) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 263.50 Td (Net proceeds from the sale of mortgage servicing rights) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 263.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 263.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.80 263.50 Td (7,558) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 263.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 263.50 Td (7,558) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 252.75 Td (Net cash \(used in\) provided by investing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.10 252.75 Td (\(7,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.80 252.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.10 252.75 Td (\(3,913) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.80 252.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.80 252.75 Td (4,870) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.80 252.75 Td (7,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 252.75 Td (957) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 232.50 Td (FINANCING ) Tj ET Q q 0 0 0 rg BT 97.28 232.50 Td (ACTIVITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 222.50 Td (Proceeds from bank borrowings - homebuilding operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 222.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.75 222.50 Td (289,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.80 222.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 222.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 222.50 Td (289,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 212.50 Td (Principal repayments of bank borrowings - homebuilding operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 212.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.10 212.50 Td (\(191,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.80 212.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.80 212.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 212.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.10 212.50 Td (\(191,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 212.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 202.50 Td (Net repayments of bank borrowings - financial services operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 202.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 202.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.10 202.50 Td (\(63,377) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 202.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 202.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 202.50 Td (\(63,377) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 202.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 192.50 Td (Proceeds from notes payable - other and CDD bond obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 192.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.10 192.50 Td (\(2,752) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.80 192.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.80 192.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 192.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 192.50 Td (\(2,752) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 192.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 182.50 Td (Intercompany financing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 182.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 377.75 182.50 Td (15,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.10 182.50 Td (\(7,173) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 182.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.10 182.50 Td (\(7,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.80 182.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 182.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 172.50 Td (Dividends paid) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.10 172.50 Td (\(2,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.80 172.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 172.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.10 172.50 Td (\(5,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 172.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.80 172.50 Td (5,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 172.50 Td (\(2,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 172.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 162.50 Td (Debt issue costs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 162.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 162.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.10 162.50 Td (\(63) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 162.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 162.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.10 162.50 Td (\(63) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 162.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 152.50 Td (Proceeds from exercise of stock options) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.80 152.50 Td (4,792) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 152.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.80 152.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 152.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 152.50 Td (4,792) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 142.50 Td (Net cash provided by \(used in\) financing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.80 142.50 Td (2,354) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.75 142.50 Td (109,975) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.10 142.50 Td (\(76,1) Tj ET Q q 0 0 0 rg BT 444.76 142.50 Td (13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.80 142.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.10 142.50 Td (\(2,354) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.80 142.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 142.50 Td (33,862) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 124.50 Td (Net \(decrease\) increase in cash, cash equivalents and restricted cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 124.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.10 124.50 Td (\(14,832) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.80 124.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.75 124.50 Td (10,331) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 124.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 124.50 Td (\(4,501) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 124.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 114.50 Td (Cash, cash equivalents and restricted cash balance at beginning of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 114.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 377.75 114.50 Td (20,927) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.75 114.50 Td (13,514) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 114.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 114.50 Td (34,441) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 104.50 Td (Cash, cash equivalents and restricted cash balance at end of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.50 104.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.80 104.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 104.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.80 104.50 Td (6,095) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.50 104.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.75 104.50 Td (23,845) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.50 104.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.80 104.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 104.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 104.50 Td (29,940) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (ITEM 2: MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 239.52 740.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 263.14 740.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 290.55 740.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 328.81 740.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 387.42 740.25 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 450.77 740.25 Td (AND) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 728.25 Td ( RESUL) Tj ET Q q 0 0 0 rg BT 120.43 728.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 148.67 728.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 185.43 728.25 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 48.5 702.68505859375 m 104.73291015625 702.68505859375 l s q 0 0 0 rg BT 48.50 704.25 Td (OVER) Tj ET Q q 0 0 0 rg BT 77.04 704.25 Td (VIEW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 66.48 682.25 Td (Homes, ) Tj ET Q q 0 0 0 rg BT 99.28 682.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 116.53 682.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 134.05 682.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 183.79 682.25 Td (or ) Tj ET Q q 0 0 0 rg BT 194.10 682.25 Td (we\) ) Tj ET Q q 0 0 0 rg BT 219.94 682.25 Td (is ) Tj ET Q q 0 0 0 rg BT 228.59 682.25 Td (one ) Tj ET Q q 0 0 0 rg BT 245.00 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 255.31 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 269.50 682.25 Td (nation) Tj ET Q q 0 0 0 rg BT 297.28 682.25 Td (s ) Tj ET Q q 0 0 0 rg BT 303.15 682.25 Td (leading ) Tj ET Q q 0 0 0 rg BT 334.56 682.25 Td (builders ) Tj ET Q q 0 0 0 rg BT 368.75 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 379.06 682.25 Td (single-family ) Tj ET Q q 0 0 0 rg BT 434.35 682.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 462.44 682.25 Td (having ) Tj ET Q q 0 0 0 rg BT 491.63 682.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 510.28 682.25 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.02 682.25 Td (109,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 78.09 670.25 Td (since ) Tj ET Q q 0 0 0 rg BT 101.12 670.25 Td (we ) Tj ET Q q 0 0 0 rg BT 115.26 670.25 Td (commenced ) Tj ET Q q 0 0 0 rg BT 166.05 670.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 224.09 670.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 262.67 670.25 Td (in ) Tj ET Q q 0 0 0 rg BT 272.93 670.25 Td (1976.) Tj ET Q q 0 0 0 rg BT 300.25 670.25 Td (The ) Tj ET Q q 0 0 0 rg BT 318.28 670.25 Td (Company) Tj ET Q q 0 0 0 rg BT 359.94 670.25 Td (s ) Tj ET Q q 0 0 0 rg BT 366.31 670.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 394.91 670.25 Td (are ) Tj ET Q q 0 0 0 rg BT 409.59 670.25 Td (marketed ) Tj ET Q q 0 0 0 rg BT 449.28 670.25 Td (and ) Tj ET Q q 0 0 0 rg BT 466.20 670.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 485.35 670.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 525.04 670.25 Td (under ) Tj ET Q q 0 0 0 rg BT 550.29 670.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 66.53 658.25 Td (Homes ) Tj ET Q q 0 0 0 rg BT 96.88 658.25 Td (brand ) Tj ET Q q 0 0 0 rg BT 121.68 658.25 Td (\(M/I ) Tj ET Q q 0 0 0 rg BT 142.03 658.25 Td (Homes ) Tj ET Q q 0 0 0 rg BT 172.39 658.25 Td (and ) Tj ET Q q 0 0 0 rg BT 188.86 658.25 Td (Showcase ) Tj ET Q q 0 0 0 rg BT 230.87 658.25 Td (Collection ) Tj ET Q q 0 0 0 rg BT 274.56 658.25 Td (\(exclusively ) Tj ET Q q 0 0 0 rg BT 325.46 658.25 Td (by ) Tj ET Q q 0 0 0 rg BT 337.48 658.25 Td (M/I\)\). ) Tj ET Q q 0 0 0 rg BT 363.67 658.25 Td ( ) Tj ET Q q 0 0 0 rg BT 365.70 658.25 Td (In ) Tj ET Q q 0 0 0 rg BT 376.05 658.25 Td (addition, ) Tj ET Q q 0 0 0 rg BT 413.35 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 427.60 658.25 Td (Hans ) Tj ET Q q 0 0 0 rg BT 450.17 658.25 Td (Hagen ) Tj ET Q q 0 0 0 rg BT 478.30 658.25 Td (brand ) Tj ET Q q 0 0 0 rg BT 503.09 658.25 Td (is ) Tj ET Q q 0 0 0 rg BT 511.79 658.25 Td (used ) Tj ET Q q 0 0 0 rg BT 532.15 658.25 Td (in ) Tj ET Q q 0 0 0 rg BT 541.95 658.25 Td (older ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.25 Td (communities ) Tj ET Q q 0 0 0 rg BT 103.40 646.25 Td (in ) Tj ET Q q 0 0 0 rg BT 113.42 646.25 Td (our ) Tj ET Q q 0 0 0 rg BT 128.99 646.25 Td (Minneapolis/St. ) Tj ET Q q 0 0 0 rg BT 194.85 646.25 Td (Paul, ) Tj ET Q q 0 0 0 rg BT 217.37 646.25 Td (Minnesota ) Tj ET Q q 0 0 0 rg BT 261.82 646.25 Td (market, ) Tj ET Q q 0 0 0 rg BT 294.33 646.25 Td (and, ) Tj ET Q q 0 0 0 rg BT 313.51 646.25 Td (following ) Tj ET Q q 0 0 0 rg BT 354.64 646.25 Td (our ) Tj ET Q q 0 0 0 rg BT 370.21 646.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 396.87 646.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 443.00 646.25 Td (of ) Tj ET Q q 0 0 0 rg BT 453.57 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 468.03 646.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 493.60 646.25 Td (and ) Tj ET Q q 0 0 0 rg BT 510.28 646.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 554.17 646.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 86.18 634.25 Td (Homes, ) Tj ET Q q 0 0 0 rg BT 119.26 634.25 Td (a ) Tj ET Q q 0 0 0 rg BT 125.94 634.25 Td (privately-held ) Tj ET Q q 0 0 0 rg BT 184.28 634.25 Td (homebuilder ) Tj ET Q q 0 0 0 rg BT 237.06 634.25 Td (in ) Tj ET Q q 0 0 0 rg BT 247.09 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 261.55 634.25 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 294.62 634.25 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 335.19 634.25 Td (market ) Tj ET Q q 0 0 0 rg BT 365.20 634.25 Td (\(Pinnacle ) Tj ET Q q 0 0 0 rg BT 409.65 634.25 Td (Homes\), ) Tj ET Q q 0 0 0 rg BT 450.50 634.25 Td (in ) Tj ET Q q 0 0 0 rg BT 460.52 634.25 Td (March ) Tj ET Q q 0 0 0 rg BT 488.87 634.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 513.61 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 528.07 634.25 Td (Pinnacle ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.25 Td (Homes ) Tj ET Q q 0 0 0 rg BT 79.77 622.25 Td (brand ) Tj ET Q q 0 0 0 rg BT 104.47 622.25 Td (is ) Tj ET Q q 0 0 0 rg BT 113.08 622.25 Td (used ) Tj ET Q q 0 0 0 rg BT 133.34 622.25 Td (in ) Tj ET Q q 0 0 0 rg BT 143.06 622.25 Td (that ) Tj ET Q q 0 0 0 rg BT 159.99 622.25 Td (market ) Tj ET Q q 0 0 0 rg BT 189.69 622.25 Td (in ) Tj ET Q q 0 0 0 rg BT 199.40 622.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 245.21 622.25 Td (with ) Tj ET Q q 0 0 0 rg BT 264.92 622.25 Td (the ) Tj ET Q q 0 0 0 rg BT 279.08 622.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 296.56 622.25 Td (of ) Tj ET Q q 0 0 0 rg BT 306.83 622.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 334.87 622.25 Td (in ) Tj ET Q q 0 0 0 rg BT 344.59 622.25 Td (communities ) Tj ET Q q 0 0 0 rg BT 398.18 622.25 Td (in ) Tj ET Q q 0 0 0 rg BT 407.90 622.25 Td (existence ) Tj ET Q q 0 0 0 rg BT 447.03 622.25 Td (on ) Tj ET Q q 0 0 0 rg BT 458.97 622.25 Td (the ) Tj ET Q q 0 0 0 rg BT 473.12 622.25 Td (date ) Tj ET Q q 0 0 0 rg BT 491.71 622.25 Td (of ) Tj ET Q q 0 0 0 rg BT 501.98 622.25 Td (the ) Tj ET Q q 0 0 0 rg BT 516.13 622.25 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 565.02 622.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.25 Td (The ) Tj ET Q q 0 0 0 rg BT 70.13 610.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 114.11 610.25 Td (has ) Tj ET Q q 0 0 0 rg BT 132.52 610.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 193.16 610.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 239.90 610.25 Td (in ) Tj ET Q q 0 0 0 rg BT 252.76 610.25 Td (Columbus ) Tj ET Q q 0 0 0 rg BT 298.97 610.25 Td (and ) Tj ET Q q 0 0 0 rg BT 318.49 610.25 Td (Cincinnati, ) Tj ET Q q 0 0 0 rg BT 367.74 610.25 Td (Ohio; ) Tj ET Q q 0 0 0 rg BT 395.60 610.25 Td (Indianapolis, ) Tj ET Q q 0 0 0 rg BT 452.62 610.25 Td (Indiana; ) Tj ET Q q 0 0 0 rg BT 490.47 610.25 Td (Chicago, ) Tj ET Q q 0 0 0 rg BT 531.38 610.25 Td (Illinois; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.25 Td (Minneapolis/St. ) Tj ET Q q 0 0 0 rg BT 115.65 598.25 Td (Paul, ) Tj ET Q q 0 0 0 rg BT 138.47 598.25 Td (Minnesota; ) Tj ET Q q 0 0 0 rg BT 186.00 598.25 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 219.36 598.25 Td (Michigan; ) Tj ET Q q 0 0 0 rg BT 262.82 598.25 Td (T) Tj ET Q q 0 0 0 rg BT 268.23 598.25 Td (ampa, ) Tj ET Q q 0 0 0 rg BT 294.93 598.25 Td (Sarasota ) Tj ET Q q 0 0 0 rg BT 331.34 598.25 Td (and ) Tj ET Q q 0 0 0 rg BT 348.32 598.25 Td (Orlando, ) Tj ET Q q 0 0 0 rg BT 386.12 598.25 Td (Florida; ) Tj ET Q q 0 0 0 rg BT 419.77 598.25 Td (Austin, ) Tj ET Q q 0 0 0 rg BT 451.47 598.25 Td (Dallas/Fort ) Tj ET Q q 0 0 0 rg BT 498.82 598.25 Td (W) Tj ET Q q 0 0 0 rg BT 507.46 598.25 Td (orth, ) Tj ET Q q 0 0 0 rg BT 528.61 598.25 Td (Houston ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 586.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 586.25 Td (San ) Tj ET Q q 0 0 0 rg BT 83.39 586.25 Td (Antonio, ) Tj ET Q q 0 0 0 rg BT 120.98 586.25 Td (T) Tj ET Q q 0 0 0 rg BT 126.39 586.25 Td (exas; ) Tj ET Q q 0 0 0 rg BT 149.44 586.25 Td (Charlotte ) Tj ET Q q 0 0 0 rg BT 189.15 586.25 Td (and ) Tj ET Q q 0 0 0 rg BT 206.09 586.25 Td (Raleigh, ) Tj ET Q q 0 0 0 rg BT 242.20 586.25 Td (North ) Tj ET Q q 0 0 0 rg BT 268.03 586.25 Td (Carolina; ) Tj ET Q q 0 0 0 rg BT 307.74 586.25 Td (and ) Tj ET Q q 0 0 0 rg BT 324.68 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 339.21 586.25 Td (V) Tj ET Q q 0 0 0 rg BT 345.83 586.25 Td (ir) Tj ET Q q 0 0 0 rg BT 351.76 586.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 374.26 586.25 Td (and ) Tj ET Q q 0 0 0 rg BT 391.19 586.25 Td (Maryland ) Tj ET Q q 0 0 0 rg BT 432.57 586.25 Td (suburbs ) Tj ET Q q 0 0 0 rg BT 466.18 586.25 Td (of ) Tj ET Q q 0 0 0 rg BT 476.83 586.25 Td (W) Tj ET Q q 0 0 0 rg BT 485.47 586.25 Td (ashington, ) Tj ET Q q 0 0 0 rg BT 529.36 586.25 Td (D.C. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 564.25 Td (Included ) Tj ET Q q 0 0 0 rg BT 86.56 564.25 Td (in ) Tj ET Q q 0 0 0 rg BT 96.41 564.25 Td (this ) Tj ET Q q 0 0 0 rg BT 112.93 564.25 Td (Management) Tj ET Q q 0 0 0 rg BT 167.91 564.25 Td (s ) Tj ET Q q 0 0 0 rg BT 173.87 564.25 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 219.83 564.25 Td (and ) Tj ET Q q 0 0 0 rg BT 235.89 564.25 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 272.96 564.25 Td (of ) Tj ET Q q 0 0 0 rg BT 283.36 564.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 322.64 564.25 Td (Condition ) Tj ET Q q 0 0 0 rg BT 364.72 564.25 Td (and ) Tj ET Q q 0 0 0 rg BT 381.23 564.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 412.75 564.25 Td (of ) Tj ET Q q 0 0 0 rg BT 423.15 564.25 Td (Operations ) Tj ET Q q 0 0 0 rg BT 469.10 564.25 Td (are ) Tj ET Q q 0 0 0 rg BT 483.38 564.25 Td (the ) Tj ET Q q 0 0 0 rg BT 497.67 564.25 Td (following ) Tj ET Q q 0 0 0 rg BT 538.63 564.25 Td (topics ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 552.25 Td (relevant ) Tj ET Q q 0 0 0 rg BT 84.20 552.25 Td (to ) Tj ET Q q 0 0 0 rg BT 94.48 552.25 Td (the ) Tj ET Q q 0 0 0 rg BT 109.20 552.25 Td (Company) Tj ET Q q 0 0 0 rg BT 150.86 552.25 Td (s ) Tj ET Q q 0 0 0 rg BT 157.25 552.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 210.28 552.25 Td (and ) Tj ET Q q 0 0 0 rg BT 227.21 552.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 264.70 552.25 Td (condition:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 530.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.50 530.25 Td (Information ) Tj ET Q q 0 0 0 rg BT 162.76 530.25 Td (Relating ) Tj ET Q q 0 0 0 rg BT 199.15 530.25 Td (to ) Tj ET Q q 0 0 0 rg BT 209.42 530.25 Td (Forward-Looking ) Tj ET Q q 0 0 0 rg BT 283.02 530.25 Td (Statements;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 518.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.50 518.25 Td (Application ) Tj ET Q q 0 0 0 rg BT 162.21 518.25 Td (of ) Tj ET Q q 0 0 0 rg BT 173.04 518.25 Td (Critical ) Tj ET Q q 0 0 0 rg BT 204.98 518.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 254.14 518.25 Td (Estimates ) Tj ET Q q 0 0 0 rg BT 295.52 518.25 Td (and ) Tj ET Q q 0 0 0 rg BT 312.46 518.25 Td (Policies;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 506.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.50 506.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 144.45 506.25 Td (of ) Tj ET Q q 0 0 0 rg BT 155.28 506.25 Td (Operations;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 494.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.50 494.25 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 158.89 494.25 Td (of ) Tj ET Q q 0 0 0 rg BT 169.72 494.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 187.77 494.25 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 227.50 494.25 Td (and ) Tj ET Q q 0 0 0 rg BT 244.43 494.25 Td (Capital ) Tj ET Q q 0 0 0 rg BT 275.82 494.25 Td (Resources;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 482.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.50 482.25 Td (Summary ) Tj ET Q q 0 0 0 rg BT 153.89 482.25 Td (of ) Tj ET Q q 0 0 0 rg BT 164.72 482.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 182.77 482.25 Td (Contractual ) Tj ET Q q 0 0 0 rg BT 231.92 482.25 Td (Obligations;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 470.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.50 470.25 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 158.89 470.25 Td (of ) Tj ET Q q 0 0 0 rg BT 169.72 470.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 187.77 470.25 Td (Utilization ) Tj ET Q q 0 0 0 rg BT 233.04 470.25 Td (of ) Tj ET Q q 0 0 0 rg BT 243.87 470.25 Td (Of) Tj ET Q q 0 0 0 rg BT 254.24 470.25 Td (f-Balance ) Tj ET Q q 0 0 0 rg BT 295.61 470.25 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 319.77 470.25 Td (Arrangements; ) Tj ET Q q 0 0 0 rg BT 381.69 470.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 458.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.50 458.25 Td (Impact ) Tj ET Q q 0 0 0 rg BT 142.76 458.25 Td (of ) Tj ET Q q 0 0 0 rg BT 153.59 458.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 186.08 458.25 Td (Rates ) Tj ET Q q 0 0 0 rg BT 210.80 458.25 Td (and ) Tj ET Q q 0 0 0 rg BT 227.73 458.25 Td (Inflation.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 48.5 434.68505859375 m 221.41015625 434.68505859375 l s q 0 0 0 rg BT 48.50 436.25 Td (FOR) Tj ET Q q 0 0 0 rg BT 69.26 436.25 Td (W) Tj ET Q q 0 0 0 rg BT 78.15 436.25 Td (ARD-LOOKING ST) Tj ET Q q 0 0 0 rg BT 166.03 436.25 Td (A) Tj ET Q q 0 0 0 rg BT 172.51 436.25 Td (TEMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.25 Td (Certain ) Tj ET Q q 0 0 0 rg BT 82.59 414.25 Td (information ) Tj ET Q q 0 0 0 rg BT 133.46 414.25 Td (included ) Tj ET Q q 0 0 0 rg BT 171.55 414.25 Td (in ) Tj ET Q q 0 0 0 rg BT 182.99 414.25 Td (this ) Tj ET Q q 0 0 0 rg BT 201.09 414.25 Td (report ) Tj ET Q q 0 0 0 rg BT 228.63 414.25 Td (or ) Tj ET Q q 0 0 0 rg BT 240.61 414.25 Td (in ) Tj ET Q q 0 0 0 rg BT 252.05 414.25 Td (other ) Tj ET Q q 0 0 0 rg BT 276.25 414.25 Td (materials ) Tj ET Q q 0 0 0 rg BT 316.56 414.25 Td (we ) Tj ET Q q 0 0 0 rg BT 331.88 414.25 Td (have ) Tj ET Q q 0 0 0 rg BT 354.41 414.25 Td (filed ) Tj ET Q q 0 0 0 rg BT 376.39 414.25 Td (or ) Tj ET Q q 0 0 0 rg BT 388.38 414.25 Td (will ) Tj ET Q q 0 0 0 rg BT 407.60 414.25 Td (file ) Tj ET Q q 0 0 0 rg BT 424.58 414.25 Td (with ) Tj ET Q q 0 0 0 rg BT 446.01 414.25 Td (the ) Tj ET Q q 0 0 0 rg BT 461.89 414.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 504.98 414.25 Td (and ) Tj ET Q q 0 0 0 rg BT 523.07 414.25 Td (Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.25 Td (Commission ) Tj ET Q q 0 0 0 rg BT 102.75 402.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 120.98 402.25 Td (SEC\) ) Tj ET Q q 0 0 0 rg BT 154.21 402.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 168.56 402.25 Td (well ) Tj ET Q q 0 0 0 rg BT 188.46 402.25 Td (as ) Tj ET Q q 0 0 0 rg BT 199.47 402.25 Td (information ) Tj ET Q q 0 0 0 rg BT 249.37 402.25 Td (included ) Tj ET Q q 0 0 0 rg BT 286.49 402.25 Td (in ) Tj ET Q q 0 0 0 rg BT 296.95 402.25 Td (oral ) Tj ET Q q 0 0 0 rg BT 315.18 402.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 360.08 402.25 Td (or ) Tj ET Q q 0 0 0 rg BT 371.09 402.25 Td (other ) Tj ET Q q 0 0 0 rg BT 394.33 402.25 Td (written ) Tj ET Q q 0 0 0 rg BT 425.34 402.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 470.23 402.25 Td (made ) Tj ET Q q 0 0 0 rg BT 494.57 402.25 Td (or ) Tj ET Q q 0 0 0 rg BT 505.59 402.25 Td (to ) Tj ET Q q 0 0 0 rg BT 516.05 402.25 Td (be ) Tj ET Q q 0 0 0 rg BT 528.17 402.25 Td (made ) Tj ET Q q 0 0 0 rg BT 552.51 402.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.25 Td (us\) ) Tj ET Q q 0 0 0 rg BT 64.54 390.25 Td (contains ) Tj ET Q q 0 0 0 rg BT 100.68 390.25 Td (or ) Tj ET Q q 0 0 0 rg BT 111.83 390.25 Td (may ) Tj ET Q q 0 0 0 rg BT 131.86 390.25 Td (contain ) Tj ET Q q 0 0 0 rg BT 164.11 390.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 232.47 390.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 280.00 390.25 Td (including, ) Tj ET Q q 0 0 0 rg BT 323.09 390.25 Td (but ) Tj ET Q q 0 0 0 rg BT 338.68 390.25 Td (not ) Tj ET Q q 0 0 0 rg BT 354.28 390.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 385.43 390.25 Td (to, ) Tj ET Q q 0 0 0 rg BT 398.52 390.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 443.55 390.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 484.69 390.25 Td (our ) Tj ET Q q 0 0 0 rg BT 500.83 390.25 Td (future ) Tj ET Q q 0 0 0 rg BT 527.53 390.25 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 101.45 378.25 Td (and ) Tj ET Q q 0 0 0 rg BT 117.32 378.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 153.73 378.25 Td (condition.) Tj ET Q q 0 0 0 rg BT 198.83 378.25 Td (W) Tj ET Q q 0 0 0 rg BT 207.46 378.25 Td (ords ) Tj ET Q q 0 0 0 rg BT 226.12 378.25 Td (such ) Tj ET Q q 0 0 0 rg BT 245.88 378.25 Td (as ) Tj ET Q q 0 0 0 rg BT 255.64 378.25 Td (expects, ) Tj ET Q q 0 0 0 rg BT 298.43 378.25 Td (anticipates, ) Tj ET Q q 0 0 0 rg BT 354.00 378.25 Td (envisions, ) Tj ET Q q 0 0 0 rg BT 404.58 378.25 Td (tar) Tj ET Q q 0 0 0 rg BT 419.39 378.25 Td (gets, ) Tj ET Q q 0 0 0 rg BT 443.87 378.25 Td (goals, ) Tj ET Q q 0 0 0 rg BT 477.78 378.25 Td (projects, ) Tj ET Q q 0 0 0 rg BT 522.24 378.25 Td (intends, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.25 Td (plans, ) Tj ET Q q 0 0 0 rg BT 84.27 366.25 Td (believes, ) Tj ET Q q 0 0 0 rg BT 130.69 366.25 Td (seeks, ) Tj ET Q q 0 0 0 rg BT 166.01 366.25 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 216.88 366.25 Td (variations ) Tj ET Q q 0 0 0 rg BT 258.59 366.25 Td (of ) Tj ET Q q 0 0 0 rg BT 269.21 366.25 Td (such ) Tj ET Q q 0 0 0 rg BT 289.82 366.25 Td (words ) Tj ET Q q 0 0 0 rg BT 316.54 366.25 Td (and ) Tj ET Q q 0 0 0 rg BT 333.26 366.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 363.32 366.25 Td (expressions ) Tj ET Q q 0 0 0 rg BT 412.26 366.25 Td (are ) Tj ET Q q 0 0 0 rg BT 426.75 366.25 Td (intended ) Tj ET Q q 0 0 0 rg BT 463.46 366.25 Td (to ) Tj ET Q q 0 0 0 rg BT 473.52 366.25 Td (identify ) Tj ET Q q 0 0 0 rg BT 506.91 366.25 Td (such ) Tj ET Q q 0 0 0 rg BT 527.52 366.25 Td (forward-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.25 Td (looking ) Tj ET Q q 0 0 0 rg BT 82.12 354.25 Td (statements.) Tj ET Q q 0 0 0 rg BT 131.65 354.25 Td (These ) Tj ET Q q 0 0 0 rg BT 157.59 354.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 201.86 354.25 Td (involve ) Tj ET Q q 0 0 0 rg BT 233.92 354.25 Td (a ) Tj ET Q q 0 0 0 rg BT 240.42 354.25 Td (number ) Tj ET Q q 0 0 0 rg BT 273.03 354.25 Td (of ) Tj ET Q q 0 0 0 rg BT 283.42 354.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 304.38 354.25 Td (and ) Tj ET Q q 0 0 0 rg BT 320.88 354.25 Td (uncertainties.) Tj ET Q q 0 0 0 rg BT 378.91 354.25 Td (Any ) Tj ET Q q 0 0 0 rg BT 398.20 354.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 465.80 354.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 510.07 354.25 Td (that ) Tj ET Q q 0 0 0 rg BT 527.13 354.25 Td (we ) Tj ET Q q 0 0 0 rg BT 540.85 354.25 Td (make ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.25 Td (herein ) Tj ET Q q 0 0 0 rg BT 76.64 342.25 Td (and ) Tj ET Q q 0 0 0 rg BT 93.23 342.25 Td (in ) Tj ET Q q 0 0 0 rg BT 103.16 342.25 Td (future ) Tj ET Q q 0 0 0 rg BT 129.19 342.25 Td (reports ) Tj ET Q q 0 0 0 rg BT 159.11 342.25 Td (and ) Tj ET Q q 0 0 0 rg BT 175.70 342.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 220.06 342.25 Td (are ) Tj ET Q q 0 0 0 rg BT 234.42 342.25 Td (not ) Tj ET Q q 0 0 0 rg BT 249.35 342.25 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 294.26 342.25 Td (of ) Tj ET Q q 0 0 0 rg BT 304.74 342.25 Td (future ) Tj ET Q q 0 0 0 rg BT 330.77 342.25 Td (performance, ) Tj ET Q q 0 0 0 rg BT 385.95 342.25 Td (and ) Tj ET Q q 0 0 0 rg BT 402.54 342.25 Td (actual ) Tj ET Q q 0 0 0 rg BT 428.56 342.25 Td (results ) Tj ET Q q 0 0 0 rg BT 456.82 342.25 Td (may ) Tj ET Q q 0 0 0 rg BT 476.19 342.25 Td (dif) Tj ET Q q 0 0 0 rg BT 487.12 342.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 500.37 342.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 543.06 342.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.25 Td (those ) Tj ET Q q 0 0 0 rg BT 73.42 330.25 Td (in ) Tj ET Q q 0 0 0 rg BT 84.00 330.25 Td (such ) Tj ET Q q 0 0 0 rg BT 105.14 330.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 173.48 330.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 218.50 330.25 Td (as ) Tj ET Q q 0 0 0 rg BT 229.64 330.25 Td (a ) Tj ET Q q 0 0 0 rg BT 236.89 330.25 Td (result ) Tj ET Q q 0 0 0 rg BT 261.91 330.25 Td (of ) Tj ET Q q 0 0 0 rg BT 273.05 330.25 Td (various ) Tj ET Q q 0 0 0 rg BT 305.30 330.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 323.10 330.25 Td (factors.Please ) Tj ET Q q 0 0 0 rg BT 386.17 330.25 Td (see) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 398.93 330.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.46 330.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 427.03 330.25 Td (1A. ) Tj ET Q q 0 0 0 rg BT 444.56 330.25 Td (Risk ) Tj ET Q q 0 0 0 rg BT 465.71 330.25 Td (Factors ) Tj ET Q q 0 0 0 rg BT 502.39 330.25 Td (in ) Tj ET Q q 0 0 0 rg BT 512.98 330.25 Td (Part ) Tj ET Q q 0 0 0 rg BT 531.90 330.25 Td (I ) Tj ET Q q 0 0 0 rg BT 538.03 330.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.17 330.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.25 Td (Annual ) Tj ET Q q 0 0 0 rg BT 81.10 318.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 110.48 318.25 Td (on ) Tj ET Q q 0 0 0 rg BT 122.64 318.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 146.48 318.25 Td (10-K ) Tj ET Q q 0 0 0 rg BT 169.19 318.25 Td (for ) Tj ET Q q 0 0 0 rg BT 183.02 318.25 Td (the ) Tj ET Q q 0 0 0 rg BT 197.40 318.25 Td (year ) Tj ET Q q 0 0 0 rg BT 216.77 318.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.81 318.25 Td (December ) Tj ET Q q 0 0 0 rg BT 286.05 318.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 300.72 318.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.72 318.25 Td ( ) Tj ET Q q 0 0 0 rg BT 322.88 318.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 340.59 318.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.03 318.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.03 318.25 Td ( ) Tj ET Q q 0 0 0 rg BT 367.19 318.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 391.02 318.25 Td (10-K\) ) Tj ET Q q 0 0 0 rg BT 421.51 318.25 Td (and ) Tj ET Q q 0 0 0 rg BT 438.11 318.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 463.04 318.25 Td (1A. ) Tj ET Q q 0 0 0 rg BT 479.92 318.25 Td (Risk ) Tj ET Q q 0 0 0 rg BT 500.42 318.25 Td (Factors ) Tj ET Q q 0 0 0 rg BT 536.46 318.25 Td (in ) Tj ET Q q 0 0 0 rg BT 546.40 318.25 Td (Part ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.25 Td (II ) Tj ET Q q 0 0 0 rg BT 58.63 306.25 Td (of ) Tj ET Q q 0 0 0 rg BT 69.42 306.25 Td (this ) Tj ET Q q 0 0 0 rg BT 86.34 306.25 Td (Quarterly ) Tj ET Q q 0 0 0 rg BT 127.12 306.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 156.81 306.25 Td (on ) Tj ET Q q 0 0 0 rg BT 169.27 306.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 193.41 306.25 Td (10-Q, ) Tj ET Q q 0 0 0 rg BT 218.93 306.25 Td (as ) Tj ET Q q 0 0 0 rg BT 229.73 306.25 Td (the ) Tj ET Q q 0 0 0 rg BT 244.41 306.25 Td (same ) Tj ET Q q 0 0 0 rg BT 267.43 306.25 Td (may ) Tj ET Q q 0 0 0 rg BT 287.11 306.25 Td (be ) Tj ET Q q 0 0 0 rg BT 299.02 306.25 Td (updated ) Tj ET Q q 0 0 0 rg BT 333.14 306.25 Td (from ) Tj ET Q q 0 0 0 rg BT 355.04 306.25 Td (time ) Tj ET Q q 0 0 0 rg BT 375.29 306.25 Td (to ) Tj ET Q q 0 0 0 rg BT 385.53 306.25 Td (time ) Tj ET Q q 0 0 0 rg BT 405.77 306.25 Td (in ) Tj ET Q q 0 0 0 rg BT 416.02 306.25 Td (our ) Tj ET Q q 0 0 0 rg BT 431.81 306.25 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 478.72 306.25 Td (filings ) Tj ET Q q 0 0 0 rg BT 506.74 306.25 Td (with ) Tj ET Q q 0 0 0 rg BT 526.99 306.25 Td (the ) Tj ET Q q 0 0 0 rg BT 541.67 306.25 Td (SEC, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.25 Td (for ) Tj ET Q q 0 0 0 rg BT 63.66 294.25 Td (more ) Tj ET Q q 0 0 0 rg BT 86.71 294.25 Td (information ) Tj ET Q q 0 0 0 rg BT 136.42 294.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 177.23 294.25 Td (those ) Tj ET Q q 0 0 0 rg BT 200.84 294.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 218.34 294.25 Td (factors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.25 Td (Any ) Tj ET Q q 0 0 0 rg BT 68.69 272.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 136.20 272.25 Td (statement ) Tj ET Q q 0 0 0 rg BT 176.49 272.25 Td (speaks ) Tj ET Q q 0 0 0 rg BT 205.12 272.25 Td (only ) Tj ET Q q 0 0 0 rg BT 224.86 272.25 Td (as ) Tj ET Q q 0 0 0 rg BT 235.16 272.25 Td (of ) Tj ET Q q 0 0 0 rg BT 245.46 272.25 Td (the ) Tj ET Q q 0 0 0 rg BT 259.65 272.25 Td (date ) Tj ET Q q 0 0 0 rg BT 278.27 272.25 Td (made. ) Tj ET Q q 0 0 0 rg BT 304.40 272.25 Td ( ) Tj ET Q q 0 0 0 rg BT 306.37 272.25 Td (Except ) Tj ET Q q 0 0 0 rg BT 336.10 272.25 Td (as ) Tj ET Q q 0 0 0 rg BT 346.40 272.25 Td (required ) Tj ET Q q 0 0 0 rg BT 381.68 272.25 Td (by ) Tj ET Q q 0 0 0 rg BT 393.65 272.25 Td (applicable ) Tj ET Q q 0 0 0 rg BT 436.71 272.25 Td (law) Tj ET Q q 0 0 0 rg BT 450.50 272.25 Td (, ) Tj ET Q q 0 0 0 rg BT 454.97 272.25 Td (we ) Tj ET Q q 0 0 0 rg BT 468.60 272.25 Td (undertake ) Tj ET Q q 0 0 0 rg BT 509.99 272.25 Td (no ) Tj ET Q q 0 0 0 rg BT 521.96 272.25 Td (obligation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.57 260.25 Td (publicly ) Tj ET Q q 0 0 0 rg BT 94.64 260.25 Td (update ) Tj ET Q q 0 0 0 rg BT 123.60 260.25 Td (any ) Tj ET Q q 0 0 0 rg BT 140.33 260.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 208.16 260.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 255.17 260.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 289.68 260.25 Td (as ) Tj ET Q q 0 0 0 rg BT 300.30 260.25 Td (a ) Tj ET Q q 0 0 0 rg BT 307.04 260.25 Td (result ) Tj ET Q q 0 0 0 rg BT 331.55 260.25 Td (of ) Tj ET Q q 0 0 0 rg BT 342.18 260.25 Td (new ) Tj ET Q q 0 0 0 rg BT 361.13 260.25 Td (information, ) Tj ET Q q 0 0 0 rg BT 413.14 260.25 Td (future ) Tj ET Q q 0 0 0 rg BT 439.32 260.25 Td (events ) Tj ET Q q 0 0 0 rg BT 467.16 260.25 Td (or ) Tj ET Q q 0 0 0 rg BT 477.79 260.25 Td (otherwise. ) Tj ET Q q 0 0 0 rg BT 521.46 260.25 Td ( ) Tj ET Q q 0 0 0 rg BT 523.75 260.25 Td (However) Tj ET Q q 0 0 0 rg BT 560.00 260.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.25 Td (any ) Tj ET Q q 0 0 0 rg BT 65.72 248.25 Td (further ) Tj ET Q q 0 0 0 rg BT 94.71 248.25 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 140.93 248.25 Td (made ) Tj ET Q q 0 0 0 rg BT 164.36 248.25 Td (on ) Tj ET Q q 0 0 0 rg BT 176.15 248.25 Td (related ) Tj ET Q q 0 0 0 rg BT 205.13 248.25 Td (subjects ) Tj ET Q q 0 0 0 rg BT 239.13 248.25 Td (in ) Tj ET Q q 0 0 0 rg BT 248.69 248.25 Td (our ) Tj ET Q q 0 0 0 rg BT 263.80 248.25 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 310.02 248.25 Td (reports ) Tj ET Q q 0 0 0 rg BT 339.57 248.25 Td (on ) Tj ET Q q 0 0 0 rg BT 351.35 248.25 Td (Forms ) Tj ET Q q 0 0 0 rg BT 378.69 248.25 Td (10-K, ) Tj ET Q q 0 0 0 rg BT 403.52 248.25 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 425.86 248.25 Td (and ) Tj ET Q q 0 0 0 rg BT 442.08 248.25 Td (8-K ) Tj ET Q q 0 0 0 rg BT 459.41 248.25 Td (should ) Tj ET Q q 0 0 0 rg BT 487.86 248.25 Td (be ) Tj ET Q q 0 0 0 rg BT 499.08 248.25 Td (consulted.) Tj ET Q q 0 0 0 rg BT 544.73 248.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.25 Td (discussion ) Tj ET Q q 0 0 0 rg BT 94.86 236.25 Td (is ) Tj ET Q q 0 0 0 rg BT 105.22 236.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 144.46 236.25 Td (as ) Tj ET Q q 0 0 0 rg BT 156.48 236.25 Td (permitted ) Tj ET Q q 0 0 0 rg BT 198.49 236.25 Td (by ) Tj ET Q q 0 0 0 rg BT 212.18 236.25 Td (the ) Tj ET Q q 0 0 0 rg BT 228.09 236.25 Td (Private ) Tj ET Q q 0 0 0 rg BT 260.10 236.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 303.23 236.25 Td (Litigation ) Tj ET Q q 0 0 0 rg BT 346.36 236.25 Td (Reform ) Tj ET Q q 0 0 0 rg BT 379.78 236.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 397.91 236.25 Td (of ) Tj ET Q q 0 0 0 rg BT 409.93 236.25 Td (1995, ) Tj ET Q q 0 0 0 rg BT 436.12 236.25 Td (and ) Tj ET Q q 0 0 0 rg BT 454.25 236.25 Td (all ) Tj ET Q q 0 0 0 rg BT 467.93 236.25 Td (of ) Tj ET Q q 0 0 0 rg BT 479.95 236.25 Td (our ) Tj ET Q q 0 0 0 rg BT 496.97 236.25 Td (forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 94.21 224.25 Td (are ) Tj ET Q q 0 0 0 rg BT 108.92 224.25 Td (expressly ) Tj ET Q q 0 0 0 rg BT 149.19 224.25 Td (qualified ) Tj ET Q q 0 0 0 rg BT 187.23 224.25 Td (in ) Tj ET Q q 0 0 0 rg BT 197.51 224.25 Td (their ) Tj ET Q q 0 0 0 rg BT 218.33 224.25 Td (entirety ) Tj ET Q q 0 0 0 rg BT 251.38 224.25 Td (by ) Tj ET Q q 0 0 0 rg BT 263.88 224.25 Td (the ) Tj ET Q q 0 0 0 rg BT 278.59 224.25 Td (cautionary ) Tj ET Q q 0 0 0 rg BT 323.29 224.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 368.01 224.25 Td (contained ) Tj ET Q q 0 0 0 rg BT 409.38 224.25 Td (or ) Tj ET Q q 0 0 0 rg BT 420.21 224.25 Td (referenced ) Tj ET Q q 0 0 0 rg BT 464.89 224.25 Td (in ) Tj ET Q q 0 0 0 rg BT 475.17 224.25 Td (this ) Tj ET Q q 0 0 0 rg BT 492.12 224.25 Td (section.) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (32) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 738.68505859375 m 392.1513671875 738.68505859375 l s q 0 0 0 rg BT 49.50 740.25 Td (APPLICA) Tj ET Q q 0 0 0 rg BT 93.20 740.25 Td (TION ) Tj ET Q q 0 0 0 rg BT 121.26 740.25 Td (OF) Tj ET Q q 0 0 0 rg BT 134.78 740.25 Td ( ) Tj ET Q q 0 0 0 rg BT 137.28 740.25 Td (CRITICAL) Tj ET Q q 0 0 0 rg BT 186.74 740.25 Td ( ) Tj ET Q q 0 0 0 rg BT 188.68 740.25 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 260.63 740.25 Td (ESTIMA) Tj ET Q q 0 0 0 rg BT 299.34 740.25 Td (TES ) Tj ET Q q 0 0 0 rg BT 320.19 740.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 344.36 740.25 Td (POLICIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (The ) Tj ET Q q 0 0 0 rg BT 66.66 718.25 Td (preparation ) Tj ET Q q 0 0 0 rg BT 113.81 718.25 Td (of ) Tj ET Q q 0 0 0 rg BT 123.75 718.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 160.34 718.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 204.17 718.25 Td (in ) Tj ET Q q 0 0 0 rg BT 213.56 718.25 Td (conformity ) Tj ET Q q 0 0 0 rg BT 259.61 718.25 Td (with ) Tj ET Q q 0 0 0 rg BT 279.00 718.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 324.49 718.25 Td (principles ) Tj ET Q q 0 0 0 rg BT 365.54 718.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 404.35 718.25 Td (accepted ) Tj ET Q q 0 0 0 rg BT 440.94 718.25 Td (in ) Tj ET Q q 0 0 0 rg BT 450.33 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 464.16 718.25 Td (United ) Tj ET Q q 0 0 0 rg BT 492.99 718.25 Td (States ) Tj ET Q q 0 0 0 rg BT 518.49 718.25 Td (of ) Tj ET Q q 0 0 0 rg BT 528.08 718.25 Td (America ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (\(GAAP\) ) Tj ET Q q 0 0 0 rg BT 94.71 706.25 Td (requires ) Tj ET Q q 0 0 0 rg BT 129.37 706.25 Td (management ) Tj ET Q q 0 0 0 rg BT 182.91 706.25 Td (to ) Tj ET Q q 0 0 0 rg BT 193.14 706.25 Td (make ) Tj ET Q q 0 0 0 rg BT 217.25 706.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 256.91 706.25 Td (and ) Tj ET Q q 0 0 0 rg BT 273.80 706.25 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 325.70 706.25 Td (that ) Tj ET Q q 0 0 0 rg BT 343.15 706.25 Td (af) Tj ET Q q 0 0 0 rg BT 350.74 706.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 368.17 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 382.84 706.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 418.61 706.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 454.94 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 465.73 706.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 491.51 706.25 Td (and ) Tj ET Q q 0 0 0 rg BT 508.40 706.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 548.06 706.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.25 694.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 107.33 694.25 Td (of ) Tj ET Q q 0 0 0 rg BT 118.20 694.25 Td (contingent ) Tj ET Q q 0 0 0 rg BT 162.94 694.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 188.81 694.25 Td (and ) Tj ET Q q 0 0 0 rg BT 205.78 694.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 245.53 694.25 Td (at ) Tj ET Q q 0 0 0 rg BT 255.28 694.25 Td (the ) Tj ET Q q 0 0 0 rg BT 270.03 694.25 Td (date ) Tj ET Q q 0 0 0 rg BT 289.22 694.25 Td (of ) Tj ET Q q 0 0 0 rg BT 300.09 694.25 Td (the ) Tj ET Q q 0 0 0 rg BT 314.84 694.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 367.91 694.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 405.43 694.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 450.17 694.25 Td (and ) Tj ET Q q 0 0 0 rg BT 467.15 694.25 Td (the ) Tj ET Q q 0 0 0 rg BT 481.90 694.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 517.75 694.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 554.17 694.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 83.37 682.25 Td (and ) Tj ET Q q 0 0 0 rg BT 100.04 682.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 138.37 682.25 Td (during ) Tj ET Q q 0 0 0 rg BT 166.71 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 181.15 682.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 220.04 682.25 Td (period.Management ) Tj ET Q q 0 0 0 rg BT 307.52 682.25 Td (bases ) Tj ET Q q 0 0 0 rg BT 331.40 682.25 Td (its ) Tj ET Q q 0 0 0 rg BT 343.08 682.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 382.52 682.25 Td (and ) Tj ET Q q 0 0 0 rg BT 399.19 682.25 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 450.87 682.25 Td (on ) Tj ET Q q 0 0 0 rg BT 463.10 682.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 502.54 682.25 Td (experience ) Tj ET Q q 0 0 0 rg BT 548.07 682.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.25 Td (on ) Tj ET Q q 0 0 0 rg BT 62.45 670.25 Td (various ) Tj ET Q q 0 0 0 rg BT 94.84 670.25 Td (other ) Tj ET Q q 0 0 0 rg BT 118.34 670.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 148.50 670.25 Td (that ) Tj ET Q q 0 0 0 rg BT 166.44 670.25 Td (it ) Tj ET Q q 0 0 0 rg BT 174.95 670.25 Td (believes ) Tj ET Q q 0 0 0 rg BT 210.66 670.25 Td (are ) Tj ET Q q 0 0 0 rg BT 225.82 670.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 271.52 670.25 Td (under ) Tj ET Q q 0 0 0 rg BT 297.24 670.25 Td (the ) Tj ET Q q 0 0 0 rg BT 312.41 670.25 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 374.50 670.25 Td (the ) Tj ET Q q 0 0 0 rg BT 389.67 670.25 Td (results ) Tj ET Q q 0 0 0 rg BT 418.73 670.25 Td (of ) Tj ET Q q 0 0 0 rg BT 430.01 670.25 Td (which ) Tj ET Q q 0 0 0 rg BT 457.40 670.25 Td (form ) Tj ET Q q 0 0 0 rg BT 479.79 670.25 Td (the ) Tj ET Q q 0 0 0 rg BT 494.96 670.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 517.91 670.25 Td (for ) Tj ET Q q 0 0 0 rg BT 532.52 670.25 Td (making ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (judgments ) Tj ET Q q 0 0 0 rg BT 93.38 658.25 Td (about ) Tj ET Q q 0 0 0 rg BT 117.81 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 132.24 658.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 167.77 658.25 Td (value ) Tj ET Q q 0 0 0 rg BT 191.64 658.25 Td (of ) Tj ET Q q 0 0 0 rg BT 202.18 658.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 227.72 658.25 Td (and ) Tj ET Q q 0 0 0 rg BT 244.38 658.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 283.81 658.25 Td (that ) Tj ET Q q 0 0 0 rg BT 301.01 658.25 Td (are ) Tj ET Q q 0 0 0 rg BT 315.43 658.25 Td (not ) Tj ET Q q 0 0 0 rg BT 330.43 658.25 Td (readily ) Tj ET Q q 0 0 0 rg BT 360.40 658.25 Td (apparent ) Tj ET Q q 0 0 0 rg BT 397.04 658.25 Td (from ) Tj ET Q q 0 0 0 rg BT 418.69 658.25 Td (other ) Tj ET Q q 0 0 0 rg BT 441.45 658.25 Td (sources.On ) Tj ET Q q 0 0 0 rg BT 493.38 658.25 Td (an ) Tj ET Q q 0 0 0 rg BT 505.03 658.25 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 540.02 658.25 Td (basis, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.25 Td (management ) Tj ET Q q 0 0 0 rg BT 103.15 646.25 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 142.92 646.25 Td (such ) Tj ET Q q 0 0 0 rg BT 163.82 646.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 203.60 646.25 Td (and ) Tj ET Q q 0 0 0 rg BT 220.60 646.25 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 272.62 646.25 Td (and ) Tj ET Q q 0 0 0 rg BT 289.62 646.25 Td (makes ) Tj ET Q q 0 0 0 rg BT 317.73 646.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 368.07 646.25 Td (as ) Tj ET Q q 0 0 0 rg BT 378.97 646.25 Td (deemed ) Tj ET Q q 0 0 0 rg BT 412.63 646.25 Td (necessary) Tj ET Q q 0 0 0 rg BT 450.85 646.25 Td (.) Tj ET Q q 0 0 0 rg BT 457.79 646.25 Td (Actual ) Tj ET Q q 0 0 0 rg BT 487.01 646.25 Td (results ) Tj ET Q q 0 0 0 rg BT 515.69 646.25 Td (could ) Tj ET Q q 0 0 0 rg BT 540.47 646.25 Td (dif) Tj ET Q q 0 0 0 rg BT 551.40 646.25 Td (fer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.25 Td (from ) Tj ET Q q 0 0 0 rg BT 71.87 634.25 Td (these ) Tj ET Q q 0 0 0 rg BT 95.34 634.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 135.48 634.25 Td (using ) Tj ET Q q 0 0 0 rg BT 160.08 634.25 Td (dif) Tj ET Q q 0 0 0 rg BT 171.00 634.25 Td (ferent ) Tj ET Q q 0 0 0 rg BT 197.25 634.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 237.39 634.25 Td (and ) Tj ET Q q 0 0 0 rg BT 254.75 634.25 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 309.63 634.25 Td (or ) Tj ET Q q 0 0 0 rg BT 320.88 634.25 Td (if ) Tj ET Q q 0 0 0 rg BT 329.92 634.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 374.51 634.25 Td (are ) Tj ET Q q 0 0 0 rg BT 389.65 634.25 Td (significantly ) Tj ET Q q 0 0 0 rg BT 442.56 634.25 Td (dif) Tj ET Q q 0 0 0 rg BT 453.49 634.25 Td (ferent ) Tj ET Q q 0 0 0 rg BT 479.73 634.25 Td (in ) Tj ET Q q 0 0 0 rg BT 490.44 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 505.58 634.25 Td (future.Please ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.25 Td (see ) Tj ET Q q 0 0 0 rg BT 64.54 622.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 86.24 622.25 Td (1 ) Tj ET Q q 0 0 0 rg BT 93.51 622.25 Td (\(Summary ) Tj ET Q q 0 0 0 rg BT 138.00 622.25 Td (of ) Tj ET Q q 0 0 0 rg BT 148.59 622.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 194.24 622.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 243.17 622.25 Td (Policies\) ) Tj ET Q q 0 0 0 rg BT 280.43 622.25 Td (to ) Tj ET Q q 0 0 0 rg BT 290.48 622.25 Td (our ) Tj ET Q q 0 0 0 rg BT 306.07 622.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 358.88 622.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 396.13 622.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 440.61 622.25 Td (included ) Tj ET Q q 0 0 0 rg BT 477.31 622.25 Td (in ) Tj ET Q q 0 0 0 rg BT 487.36 622.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.96 622.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.96 622.25 Td ( ) Tj ET Q q 0 0 0 rg BT 525.23 622.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 549.17 622.25 Td (10-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.25 Td (K ) Tj ET Q q 0 0 0 rg BT 59.22 610.25 Td (for ) Tj ET Q q 0 0 0 rg BT 73.38 610.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 115.87 610.25 Td (information ) Tj ET Q q 0 0 0 rg BT 165.58 610.25 Td (about ) Tj ET Q q 0 0 0 rg BT 190.30 610.25 Td (our ) Tj ET Q q 0 0 0 rg BT 206.13 610.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 252.50 610.25 Td (policies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 588.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 588.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.01 588.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 96.32 588.25 Td (that ) Tj ET Q q 0 0 0 rg BT 113.75 588.25 Td (there ) Tj ET Q q 0 0 0 rg BT 136.17 588.25 Td (have ) Tj ET Q q 0 0 0 rg BT 157.48 588.25 Td (been ) Tj ET Q q 0 0 0 rg BT 178.80 588.25 Td (no ) Tj ET Q q 0 0 0 rg BT 191.23 588.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 235.88 588.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 270.52 588.25 Td (to ) Tj ET Q q 0 0 0 rg BT 280.74 588.25 Td (our ) Tj ET Q q 0 0 0 rg BT 296.50 588.25 Td (critical ) Tj ET Q q 0 0 0 rg BT 326.70 588.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 373.00 588.25 Td (policies ) Tj ET Q q 0 0 0 rg BT 406.54 588.25 Td (during ) Tj ET Q q 0 0 0 rg BT 435.09 588.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.74 588.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 480.49 588.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 506.80 588.25 Td (June ) Tj ET Q q 0 0 0 rg BT 527.57 588.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 542.50 588.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 576.25 Td (as ) Tj ET Q q 0 0 0 rg BT 59.21 576.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 100.01 576.25 Td (to ) Tj ET Q q 0 0 0 rg BT 109.16 576.25 Td (those ) Tj ET Q q 0 0 0 rg BT 131.64 576.25 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 170.24 576.25 Td (in ) Tj ET Q q 0 0 0 rg BT 179.39 576.25 Td (Management) Tj ET Q q 0 0 0 rg BT 234.37 576.25 Td (s ) Tj ET Q q 0 0 0 rg BT 239.64 576.25 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 284.91 576.25 Td (and ) Tj ET Q q 0 0 0 rg BT 300.42 576.25 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 336.79 576.25 Td (of ) Tj ET Q q 0 0 0 rg BT 346.50 576.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 385.09 576.25 Td (Condition ) Tj ET Q q 0 0 0 rg BT 426.47 576.25 Td (and ) Tj ET Q q 0 0 0 rg BT 442.28 576.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 473.11 576.25 Td (of ) Tj ET Q q 0 0 0 rg BT 482.81 576.25 Td (Operations ) Tj ET Q q 0 0 0 rg BT 528.07 576.25 Td (included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 564.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.97 564.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.99 564.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.99 564.25 Td ( ) Tj ET Q q 0 0 0 rg BT 98.68 564.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 123.04 564.25 Td (10-K, ) Tj ET Q q 0 0 0 rg BT 148.78 564.25 Td (other ) Tj ET Q q 0 0 0 rg BT 172.01 564.25 Td (than ) Tj ET Q q 0 0 0 rg BT 191.92 564.25 Td (the ) Tj ET Q q 0 0 0 rg BT 206.83 564.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 241.72 564.25 Td (described ) Tj ET Q q 0 0 0 rg BT 282.73 564.25 Td (in ) Tj ET Q q 0 0 0 rg BT 293.20 564.25 Td (our ) Tj ET Q q 0 0 0 rg BT 309.21 564.25 Td (Management) Tj ET Q q 0 0 0 rg BT 364.20 564.25 Td (s ) Tj ET Q q 0 0 0 rg BT 370.78 564.25 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 417.36 564.25 Td (and ) Tj ET Q q 0 0 0 rg BT 433.89 564.25 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 471.58 564.25 Td (of ) Tj ET Q q 0 0 0 rg BT 482.60 564.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 522.50 564.25 Td (Condition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 552.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.92 552.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 99.35 552.25 Td (of ) Tj ET Q q 0 0 0 rg BT 110.66 552.25 Td (Operations ) Tj ET Q q 0 0 0 rg BT 157.52 552.25 Td (included ) Tj ET Q q 0 0 0 rg BT 194.94 552.25 Td (in ) Tj ET Q q 0 0 0 rg BT 205.70 552.25 Td (our ) Tj ET Q q 0 0 0 rg BT 222.01 552.25 Td (Quarterly ) Tj ET Q q 0 0 0 rg BT 263.31 552.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 293.51 552.25 Td (on ) Tj ET Q q 0 0 0 rg BT 306.49 552.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 331.14 552.25 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 354.68 552.25 Td (for ) Tj ET Q q 0 0 0 rg BT 369.32 552.25 Td (the ) Tj ET Q q 0 0 0 rg BT 384.52 552.25 Td (three ) Tj ET Q q 0 0 0 rg BT 407.49 552.25 Td (months ) Tj ET Q q 0 0 0 rg BT 439.92 552.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 466.78 552.25 Td (March ) Tj ET Q q 0 0 0 rg BT 495.86 552.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 511.34 552.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 534.32 552.25 Td (and ) Tj ET Q q 0 0 0 rg BT 551.75 552.25 Td ( ) Tj ET Q q 0 0 0 rg BT 554.73 552.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 540.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 71.44 540.25 Td (1 ) Tj ET Q q 0 0 0 rg BT 78.94 540.25 Td (\(Basis ) Tj ET Q q 0 0 0 rg BT 106.44 540.25 Td (of ) Tj ET Q q 0 0 0 rg BT 117.27 540.25 Td (Presentation\) ) Tj ET Q q 0 0 0 rg BT 172.53 540.25 Td (to ) Tj ET Q q 0 0 0 rg BT 182.81 540.25 Td (our ) Tj ET Q q 0 0 0 rg BT 198.64 540.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 236.12 540.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 280.83 540.25 Td (of ) Tj ET Q q 0 0 0 rg BT 291.66 540.25 Td (this ) Tj ET Q q 0 0 0 rg BT 308.61 540.25 Td (Quarterly ) Tj ET Q q 0 0 0 rg BT 349.43 540.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 379.14 540.25 Td (on ) Tj ET Q q 0 0 0 rg BT 391.64 540.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 415.81 540.25 Td (10-Q.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 514.68505859375 m 178.0546875 514.68505859375 l s q 0 0 0 rg BT 49.50 516.25 Td (RESUL) Tj ET Q q 0 0 0 rg BT 81.93 516.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 110.17 516.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 146.93 516.25 Td (TIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 494.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.24 494.25 Td (Company) Tj ET Q q 0 0 0 rg BT 108.91 494.25 Td (s ) Tj ET Q q 0 0 0 rg BT 115.00 494.25 Td (chief ) Tj ET Q q 0 0 0 rg BT 137.18 494.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 177.14 494.25 Td (decision ) Tj ET Q q 0 0 0 rg BT 212.66 494.25 Td (makers ) Tj ET Q q 0 0 0 rg BT 243.73 494.25 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 279.24 494.25 Td (the ) Tj ET Q q 0 0 0 rg BT 293.65 494.25 Td (Company) Tj ET Q q 0 0 0 rg BT 335.32 494.25 Td (s ) Tj ET Q q 0 0 0 rg BT 341.41 494.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 394.12 494.25 Td (at ) Tj ET Q q 0 0 0 rg BT 403.54 494.25 Td (various ) Tj ET Q q 0 0 0 rg BT 435.17 494.25 Td (levels, ) Tj ET Q q 0 0 0 rg BT 463.19 494.25 Td (including: ) Tj ET Q q 0 0 0 rg BT 505.94 494.25 Td ( ) Tj ET Q q 0 0 0 rg BT 508.14 494.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 521.99 494.25 Td (the ) Tj ET Q q 0 0 0 rg BT 536.41 494.25 Td (results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 482.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.60 482.25 Td (our ) Tj ET Q q 0 0 0 rg BT 76.70 482.25 Td (16 ) Tj ET Q q 0 0 0 rg BT 89.46 482.25 Td (individual ) Tj ET Q q 0 0 0 rg BT 132.78 482.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 191.10 482.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 231.63 482.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 271.62 482.25 Td (and ) Tj ET Q q 0 0 0 rg BT 288.82 482.25 Td (the ) Tj ET Q q 0 0 0 rg BT 303.81 482.25 Td (results ) Tj ET Q q 0 0 0 rg BT 332.68 482.25 Td (of ) Tj ET Q q 0 0 0 rg BT 343.78 482.25 Td (our ) Tj ET Q q 0 0 0 rg BT 359.88 482.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 397.63 482.25 Td (services ) Tj ET Q q 0 0 0 rg BT 432.60 482.25 Td (operations; ) Tj ET Q q 0 0 0 rg BT 479.80 482.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 494.23 482.25 Td (the ) Tj ET Q q 0 0 0 rg BT 509.21 482.25 Td (results ) Tj ET Q q 0 0 0 rg BT 538.09 482.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.19 482.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 470.25 Td (three ) Tj ET Q q 0 0 0 rg BT 71.99 470.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 130.04 470.25 Td (reportable ) Tj ET Q q 0 0 0 rg BT 173.07 470.25 Td (segments; ) Tj ET Q q 0 0 0 rg BT 215.56 470.25 Td (and ) Tj ET Q q 0 0 0 rg BT 232.50 470.25 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 246.66 470.25 Td (our ) Tj ET Q q 0 0 0 rg BT 262.49 470.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 315.54 470.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 353.02 470.25 Td (results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 448.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.70 448.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 108.53 448.25 Td (with ) Tj ET Q q 0 0 0 rg BT 128.54 448.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 150.86 448.25 Td (280, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 171.23 448.25 Td (Segment ) Tj ET Q q 0 0 0 rg BT 207.98 448.25 Td (Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.97 448.25 Td ( ) Tj ET Q q 0 0 0 rg BT 250.84 448.25 Td (\(ASC ) Tj ET Q q 0 0 0 rg BT 280.93 448.25 Td (280\), ) Tj ET Q q 0 0 0 rg BT 309.07 448.25 Td (we ) Tj ET Q q 0 0 0 rg BT 323.60 448.25 Td (have ) Tj ET Q q 0 0 0 rg BT 345.34 448.25 Td (identified ) Tj ET Q q 0 0 0 rg BT 386.53 448.25 Td (each ) Tj ET Q q 0 0 0 rg BT 407.72 448.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 466.14 448.25 Td (division ) Tj ET Q q 0 0 0 rg BT 501.23 448.25 Td (as ) Tj ET Q q 0 0 0 rg BT 512.43 448.25 Td (an ) Tj ET Q q 0 0 0 rg BT 524.74 448.25 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (segment ) Tj ET Q q 0 0 0 rg BT 85.70 436.25 Td (as ) Tj ET Q q 0 0 0 rg BT 96.91 436.25 Td (each ) Tj ET Q q 0 0 0 rg BT 118.10 436.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 176.52 436.25 Td (division ) Tj ET Q q 0 0 0 rg BT 211.62 436.25 Td (engages ) Tj ET Q q 0 0 0 rg BT 246.71 436.25 Td (in ) Tj ET Q q 0 0 0 rg BT 257.36 436.25 Td (business ) Tj ET Q q 0 0 0 rg BT 294.13 436.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 333.10 436.25 Td (from ) Tj ET Q q 0 0 0 rg BT 355.41 436.25 Td (which ) Tj ET Q q 0 0 0 rg BT 382.73 436.25 Td (it ) Tj ET Q q 0 0 0 rg BT 391.16 436.25 Td (earns ) Tj ET Q q 0 0 0 rg BT 415.13 436.25 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 452.15 436.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 492.24 436.25 Td (from ) Tj ET Q q 0 0 0 rg BT 514.55 436.25 Td (the ) Tj ET Q q 0 0 0 rg BT 529.64 436.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 548.07 436.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 424.25 Td (construction ) Tj ET Q q 0 0 0 rg BT 101.57 424.25 Td (of ) Tj ET Q q 0 0 0 rg BT 112.54 424.25 Td (single-family ) Tj ET Q q 0 0 0 rg BT 168.49 424.25 Td (attached ) Tj ET Q q 0 0 0 rg BT 204.44 424.25 Td (and ) Tj ET Q q 0 0 0 rg BT 221.52 424.25 Td (detached ) Tj ET Q q 0 0 0 rg BT 259.69 424.25 Td (homes, ) Tj ET Q q 0 0 0 rg BT 290.93 424.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 337.45 424.25 Td (and ) Tj ET Q q 0 0 0 rg BT 354.52 424.25 Td (development ) Tj ET Q q 0 0 0 rg BT 408.81 424.25 Td (of ) Tj ET Q q 0 0 0 rg BT 419.78 424.25 Td (land, ) Tj ET Q q 0 0 0 rg BT 442.13 424.25 Td (and ) Tj ET Q q 0 0 0 rg BT 459.21 424.25 Td (the ) Tj ET Q q 0 0 0 rg BT 474.06 424.25 Td (occasional ) Tj ET Q q 0 0 0 rg BT 518.90 424.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 537.08 424.25 Td (of ) Tj ET Q q 0 0 0 rg BT 548.05 424.25 Td (lots ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.46 412.25 Td (third ) Tj ET Q q 0 0 0 rg BT 80.53 412.25 Td (parties. ) Tj ET Q q 0 0 0 rg BT 111.87 412.25 Td ( ) Tj ET Q q 0 0 0 rg BT 114.06 412.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 131.79 412.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 168.96 412.25 Td (services ) Tj ET Q q 0 0 0 rg BT 203.35 412.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 247.19 412.25 Td (generate ) Tj ET Q q 0 0 0 rg BT 283.23 412.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 317.06 412.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 356.46 412.25 Td (from ) Tj ET Q q 0 0 0 rg BT 378.08 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 392.48 412.25 Td (origination, ) Tj ET Q q 0 0 0 rg BT 441.05 412.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 458.78 412.25 Td (and ) Tj ET Q q 0 0 0 rg BT 475.40 412.25 Td (servicing ) Tj ET Q q 0 0 0 rg BT 514.24 412.25 Td (of ) Tj ET Q q 0 0 0 rg BT 524.76 412.25 Td (mortgage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 400.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 73.72 400.25 Td (and ) Tj ET Q q 0 0 0 rg BT 91.26 400.25 Td (title ) Tj ET Q q 0 0 0 rg BT 109.92 400.25 Td (services ) Tj ET Q q 0 0 0 rg BT 145.24 400.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 185.56 400.25 Td (for ) Tj ET Q q 0 0 0 rg BT 200.33 400.25 Td (purchasers ) Tj ET Q q 0 0 0 rg BT 246.19 400.25 Td (of ) Tj ET Q q 0 0 0 rg BT 257.63 400.25 Td (the ) Tj ET Q q 0 0 0 rg BT 272.95 400.25 Td (Company) Tj ET Q q 0 0 0 rg BT 314.62 400.25 Td (s ) Tj ET Q q 0 0 0 rg BT 321.62 400.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 350.84 400.25 Td (and ) Tj ET Q q 0 0 0 rg BT 368.38 400.25 Td (are ) Tj ET Q q 0 0 0 rg BT 383.70 400.25 Td (included ) Tj ET Q q 0 0 0 rg BT 421.24 400.25 Td (in ) Tj ET Q q 0 0 0 rg BT 432.12 400.25 Td (our ) Tj ET Q q 0 0 0 rg BT 448.56 400.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 486.65 400.25 Td (services ) Tj ET Q q 0 0 0 rg BT 521.97 400.25 Td (reportable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 388.25 Td (segment. ) Tj ET Q q 0 0 0 rg BT 88.59 388.25 Td ( ) Tj ET Q q 0 0 0 rg BT 91.86 388.25 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 135.11 388.25 Td (is ) Tj ET Q q 0 0 0 rg BT 145.05 388.25 Td (a ) Tj ET Q q 0 0 0 rg BT 152.76 388.25 Td (non-operating ) Tj ET Q q 0 0 0 rg BT 212.12 388.25 Td (segment ) Tj ET Q q 0 0 0 rg BT 248.71 388.25 Td (that ) Tj ET Q q 0 0 0 rg BT 266.98 388.25 Td (develops ) Tj ET Q q 0 0 0 rg BT 305.79 388.25 Td (and ) Tj ET Q q 0 0 0 rg BT 323.50 388.25 Td (implements ) Tj ET Q q 0 0 0 rg BT 373.43 388.25 Td (strategic ) Tj ET Q q 0 0 0 rg BT 410.57 388.25 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 453.27 388.25 Td (and ) Tj ET Q q 0 0 0 rg BT 470.98 388.25 Td (supports ) Tj ET Q q 0 0 0 rg BT 508.14 388.25 Td (our ) Tj ET Q q 0 0 0 rg BT 524.74 388.25 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 376.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 89.71 376.25 Td (by ) Tj ET Q q 0 0 0 rg BT 102.70 376.25 Td (centralizing ) Tj ET Q q 0 0 0 rg BT 152.89 376.25 Td (key ) Tj ET Q q 0 0 0 rg BT 170.32 376.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 230.52 376.25 Td (functions ) Tj ET Q q 0 0 0 rg BT 270.73 376.25 Td (such ) Tj ET Q q 0 0 0 rg BT 292.05 376.25 Td (as ) Tj ET Q q 0 0 0 rg BT 303.37 376.25 Td (accounting, ) Tj ET Q q 0 0 0 rg BT 352.74 376.25 Td (finance, ) Tj ET Q q 0 0 0 rg BT 387.65 376.25 Td (treasury) Tj ET Q q 0 0 0 rg BT 419.21 376.25 Td (, ) Tj ET Q q 0 0 0 rg BT 424.70 376.25 Td (information ) Tj ET Q q 0 0 0 rg BT 474.91 376.25 Td (technology) Tj ET Q q 0 0 0 rg BT 518.69 376.25 Td (, ) Tj ET Q q 0 0 0 rg BT 524.18 376.25 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 364.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 364.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 83.94 364.25 Td (management, ) Tj ET Q q 0 0 0 rg BT 140.03 364.25 Td (legal, ) Tj ET Q q 0 0 0 rg BT 164.46 364.25 Td (marketing ) Tj ET Q q 0 0 0 rg BT 207.50 364.25 Td (and ) Tj ET Q q 0 0 0 rg BT 224.44 364.25 Td (human ) Tj ET Q q 0 0 0 rg BT 254.16 364.25 Td (resources.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.25 Td (In ) Tj ET Q q 0 0 0 rg BT 61.18 342.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 109.49 342.25 Td (with ) Tj ET Q q 0 0 0 rg BT 130.62 342.25 Td (the ) Tj ET Q q 0 0 0 rg BT 146.19 342.25 Td (aggregation ) Tj ET Q q 0 0 0 rg BT 196.74 342.25 Td (criteria ) Tj ET Q q 0 0 0 rg BT 228.41 342.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 261.74 342.25 Td (in ) Tj ET Q q 0 0 0 rg BT 272.13 342.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 294.94 342.25 Td (280, ) Tj ET Q q 0 0 0 rg BT 315.79 342.25 Td (we ) Tj ET Q q 0 0 0 rg BT 330.80 342.25 Td (have ) Tj ET Q q 0 0 0 rg BT 353.03 342.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 401.36 342.25 Td (our ) Tj ET Q q 0 0 0 rg BT 418.04 342.25 Td (reportable ) Tj ET Q q 0 0 0 rg BT 461.92 342.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 502.49 342.25 Td (are ) Tj ET Q q 0 0 0 rg BT 518.05 342.25 Td (as ) Tj ET Q q 0 0 0 rg BT 529.73 342.25 Td (follows: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.25 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 85.80 330.25 Td (homebuilding; ) Tj ET Q q 0 0 0 rg BT 145.43 330.25 Td (Southern ) Tj ET Q q 0 0 0 rg BT 182.83 330.25 Td (homebuilding; ) Tj ET Q q 0 0 0 rg BT 242.46 330.25 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 295.97 330.25 Td (homebuilding; ) Tj ET Q q 0 0 0 rg BT 355.60 330.25 Td (and ) Tj ET Q q 0 0 0 rg BT 371.34 330.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 407.62 330.25 Td (services ) Tj ET Q q 0 0 0 rg BT 441.13 330.25 Td (operations.) Tj ET Q q 0 0 0 rg BT 490.10 330.25 Td (The ) Tj ET Q q 0 0 0 rg BT 506.95 330.25 Td (homebuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 88.59 318.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 127.13 318.25 Td (included ) Tj ET Q q 0 0 0 rg BT 162.90 318.25 Td (in ) Tj ET Q q 0 0 0 rg BT 172.00 318.25 Td (each ) Tj ET Q q 0 0 0 rg BT 191.64 318.25 Td (reportable ) Tj ET Q q 0 0 0 rg BT 233.50 318.25 Td (segment ) Tj ET Q q 0 0 0 rg BT 268.16 318.25 Td (have ) Tj ET Q q 0 0 0 rg BT 288.36 318.25 Td (been ) Tj ET Q q 0 0 0 rg BT 308.56 318.25 Td (aggregated ) Tj ET Q q 0 0 0 rg BT 353.75 318.25 Td (because ) Tj ET Q q 0 0 0 rg BT 386.73 318.25 Td (they ) Tj ET Q q 0 0 0 rg BT 405.27 318.25 Td (share ) Tj ET Q q 0 0 0 rg BT 427.70 318.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 456.80 318.25 Td (aggregation ) Tj ET Q q 0 0 0 rg BT 505.33 318.25 Td (characteristics ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.25 Td (as ) Tj ET Q q 0 0 0 rg BT 59.85 306.25 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 103.52 306.25 Td (in ) Tj ET Q q 0 0 0 rg BT 112.87 306.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 134.35 306.25 Td (280 ) Tj ET Q q 0 0 0 rg BT 151.37 306.25 Td (in ) Tj ET Q q 0 0 0 rg BT 161.17 306.25 Td (the ) Tj ET Q q 0 0 0 rg BT 175.41 306.25 Td (following ) Tj ET Q q 0 0 0 rg BT 216.31 306.25 Td (regards: ) Tj ET Q q 0 0 0 rg BT 250.54 306.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 264.22 306.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 305.68 306.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 346.57 306.25 Td (characteristics; ) Tj ET Q q 0 0 0 rg BT 408.56 306.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 422.24 306.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 461.48 306.25 Td (and ) Tj ET Q q 0 0 0 rg BT 477.94 306.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 515.49 306.25 Td (future ) Tj ET Q q 0 0 0 rg BT 541.39 306.25 Td (long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.25 Td (term ) Tj ET Q q 0 0 0 rg BT 71.17 294.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 95.64 294.25 Td (mar) Tj ET Q q 0 0 0 rg BT 111.00 294.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 127.13 294.25 Td (percentages; ) Tj ET Q q 0 0 0 rg BT 180.45 294.25 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 195.46 294.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 230.48 294.25 Td (products, ) Tj ET Q q 0 0 0 rg BT 270.77 294.25 Td (production ) Tj ET Q q 0 0 0 rg BT 317.44 294.25 Td (processes ) Tj ET Q q 0 0 0 rg BT 359.11 294.25 Td (and ) Tj ET Q q 0 0 0 rg BT 376.90 294.25 Td (methods ) Tj ET Q q 0 0 0 rg BT 414.14 294.25 Td (of ) Tj ET Q q 0 0 0 rg BT 425.82 294.25 Td (distribution; ) Tj ET Q q 0 0 0 rg BT 478.06 294.25 Td (and ) Tj ET Q q 0 0 0 rg BT 495.85 294.25 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 510.86 294.25 Td (geographical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.25 Td (proximity) Tj ET Q q 0 0 0 rg BT 88.29 282.25 Td (. ) Tj ET Q q 0 0 0 rg BT 93.22 282.25 Td ( ) Tj ET Q q 0 0 0 rg BT 95.48 282.25 Td (W) Tj ET Q q 0 0 0 rg BT 104.11 282.25 Td (e ) Tj ET Q q 0 0 0 rg BT 110.98 282.25 Td (may) Tj ET Q q 0 0 0 rg BT 127.55 282.25 Td (, ) Tj ET Q q 0 0 0 rg BT 132.48 282.25 Td (however) Tj ET Q q 0 0 0 rg BT 166.51 282.25 Td (, ) Tj ET Q q 0 0 0 rg BT 171.44 282.25 Td (be ) Tj ET Q q 0 0 0 rg BT 183.30 282.25 Td (required ) Tj ET Q q 0 0 0 rg BT 219.05 282.25 Td (to ) Tj ET Q q 0 0 0 rg BT 229.26 282.25 Td (reclassify ) Tj ET Q q 0 0 0 rg BT 270.00 282.25 Td (our ) Tj ET Q q 0 0 0 rg BT 285.76 282.25 Td (reportable ) Tj ET Q q 0 0 0 rg BT 328.72 282.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 368.37 282.25 Td (if ) Tj ET Q q 0 0 0 rg BT 376.90 282.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 410.99 282.25 Td (that ) Tj ET Q q 0 0 0 rg BT 428.41 282.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 466.94 282.25 Td (are ) Tj ET Q q 0 0 0 rg BT 481.57 282.25 Td (being ) Tj ET Q q 0 0 0 rg BT 506.22 282.25 Td (aggregated ) Tj ET Q q 0 0 0 rg BT 552.51 282.25 Td (do ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.25 Td (not ) Tj ET Q q 0 0 0 rg BT 64.78 270.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 101.71 270.25 Td (to ) Tj ET Q q 0 0 0 rg BT 111.99 270.25 Td (share ) Tj ET Q q 0 0 0 rg BT 135.59 270.25 Td (these ) Tj ET Q q 0 0 0 rg BT 158.64 270.25 Td (aggregation ) Tj ET Q q 0 0 0 rg BT 208.34 270.25 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 268.03 270.25 Td (which ) Tj ET Q q 0 0 0 rg BT 294.96 270.25 Td (are ) Tj ET Q q 0 0 0 rg BT 309.67 270.25 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 350.48 270.25 Td (annually) Tj ET Q q 0 0 0 rg BT 384.27 270.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.55 248.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 125.60 248.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 165.86 248.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 205.58 248.25 Td (that ) Tj ET Q q 0 0 0 rg BT 223.07 248.25 Td (comprise ) Tj ET Q q 0 0 0 rg BT 262.23 248.25 Td (each ) Tj ET Q q 0 0 0 rg BT 283.04 248.25 Td (of ) Tj ET Q q 0 0 0 rg BT 293.88 248.25 Td (our ) Tj ET Q q 0 0 0 rg BT 309.71 248.25 Td (reportable ) Tj ET Q q 0 0 0 rg BT 352.74 248.25 Td (segments ) Tj ET Q q 0 0 0 rg BT 392.45 248.25 Td (are ) Tj ET Q q 0 0 0 rg BT 407.16 248.25 Td (as ) Tj ET Q q 0 0 0 rg BT 417.99 248.25 Td (follows:) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 94.5 226.9833984375 m 129.5 226.9833984375 l s q 0 0 0 rg BT 94.50 228.32 Td (Midwest) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 242.5 226.9833984375 m 278.6083984375 226.9833984375 l s q 0 0 0 rg BT 242.50 228.32 Td (Southern) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 388.5 226.9833984375 m 440.7119140625 226.9833984375 l s q 0 0 0 rg BT 388.50 228.32 Td (Mid-Atlantic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 214.37 Td (Chicago, ) Tj ET Q q 0 0 0 rg BT 132.83 214.37 Td (Illinois) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 214.37 Td (Orlando, ) Tj ET Q q 0 0 0 rg BT 280.27 214.37 Td (Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 214.37 Td (Charlotte, ) Tj ET Q q 0 0 0 rg BT 430.71 214.37 Td (North ) Tj ET Q q 0 0 0 rg BT 456.54 214.37 Td (Carolina) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 202.37 Td (Cincinnati, ) Tj ET Q q 0 0 0 rg BT 141.16 202.37 Td (Ohio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 202.37 Td (Sarasota, ) Tj ET Q q 0 0 0 rg BT 281.38 202.37 Td (Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 202.37 Td (Raleigh, ) Tj ET Q q 0 0 0 rg BT 424.60 202.37 Td (North ) Tj ET Q q 0 0 0 rg BT 450.43 202.37 Td (Carolina) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 190.37 Td (Columbus, ) Tj ET Q q 0 0 0 rg BT 140.62 190.37 Td (Ohio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 190.37 Td (T) Tj ET Q q 0 0 0 rg BT 248.26 190.37 Td (ampa, Florida) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 190.37 Td (W) Tj ET Q q 0 0 0 rg BT 397.54 190.37 Td (ashington, ) Tj ET Q q 0 0 0 rg BT 441.02 190.37 Td (D.C.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 178.37 Td (Indianapolis, ) Tj ET Q q 0 0 0 rg BT 148.93 178.37 Td (Indiana) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 178.37 Td (Austin, ) Tj ET Q q 0 0 0 rg BT 274.08 178.37 Td (T) Tj ET Q q 0 0 0 rg BT 279.75 178.37 Td (exas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 166.37 Td (Minneapolis/St. ) Tj ET Q q 0 0 0 rg BT 160.61 166.37 Td (Paul, ) Tj ET Q q 0 0 0 rg BT 183.39 166.37 Td (Minnesota) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 166.37 Td (Dallas/Fort ) Tj ET Q q 0 0 0 rg BT 289.90 166.37 Td (W) Tj ET Q q 0 0 0 rg BT 298.85 166.37 Td (orth, ) Tj ET Q q 0 0 0 rg BT 319.47 166.37 Td (T) Tj ET Q q 0 0 0 rg BT 325.14 166.37 Td (exas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 154.37 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 127.83 154.37 Td (Michigan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 154.37 Td (Houston, ) Tj ET Q q 0 0 0 rg BT 281.30 154.37 Td (T) Tj ET Q q 0 0 0 rg BT 286.97 154.37 Td (exas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.50 142.37 Td (San ) Tj ET Q q 0 0 0 rg BT 259.45 142.37 Td (Antonio, ) Tj ET Q q 0 0 0 rg BT 297.05 142.37 Td (T) Tj ET Q q 0 0 0 rg BT 302.46 142.37 Td (exas) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 67 0 obj <>] /Rotate 0 /Contents 68 0 R>> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (33) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 738.68505859375 m 90.59375 738.68505859375 l s q 0 0 0 rg BT 49.50 740.25 Td (Overview) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.59 740.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (For ) Tj ET Q q 0 0 0 rg BT 65.73 718.25 Td (both ) Tj ET Q q 0 0 0 rg BT 85.84 718.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.39 718.25 Td (second ) Tj ET Q q 0 0 0 rg BT 130.50 718.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.81 718.25 Td ( ) Tj ET Q q 0 0 0 rg BT 161.15 718.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.92 718.25 Td (first ) Tj ET Q q 0 0 0 rg BT 196.37 718.25 Td (half ) Tj ET Q q 0 0 0 rg BT 214.25 718.25 Td (of ) Tj ET Q q 0 0 0 rg BT 224.91 718.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.91 718.25 Td (, ) Tj ET Q q 0 0 0 rg BT 249.75 718.25 Td (we ) Tj ET Q q 0 0 0 rg BT 263.74 718.25 Td (achieved ) Tj ET Q q 0 0 0 rg BT 301.61 718.25 Td (record ) Tj ET Q q 0 0 0 rg BT 329.48 718.25 Td (levels ) Tj ET Q q 0 0 0 rg BT 355.15 718.25 Td (of ) Tj ET Q q 0 0 0 rg BT 365.81 718.25 Td (new ) Tj ET Q q 0 0 0 rg BT 384.81 718.25 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 425.74 718.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 454.18 718.25 Td (delivered ) Tj ET Q q 0 0 0 rg BT 493.72 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 510.49 718.25 Td (revenue. ) Tj ET Q q 0 0 0 rg BT 546.97 718.25 Td (Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (complementary ) Tj ET Q q 0 0 0 rg BT 115.25 706.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 153.79 706.25 Td (services ) Tj ET Q q 0 0 0 rg BT 189.55 706.25 Td (business ) Tj ET Q q 0 0 0 rg BT 227.00 706.25 Td (also ) Tj ET Q q 0 0 0 rg BT 246.66 706.25 Td (achieved ) Tj ET Q q 0 0 0 rg BT 285.75 706.25 Td (record ) Tj ET Q q 0 0 0 rg BT 314.84 706.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 350.04 706.25 Td (in ) Tj ET Q q 0 0 0 rg BT 361.37 706.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.14 706.25 Td (second ) Tj ET Q q 0 0 0 rg BT 408.46 706.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.78 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 440.33 706.25 Td (and ) Tj ET Q q 0 0 0 rg BT 458.33 706.25 Td (a ) Tj ET Q q 0 0 0 rg BT 466.32 706.25 Td (record ) Tj ET Q q 0 0 0 rg BT 495.41 706.25 Td (number ) Tj ET Q q 0 0 0 rg BT 529.51 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 541.40 706.25 Td (loans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (originated ) Tj ET Q q 0 0 0 rg BT 92.49 694.25 Td (in ) Tj ET Q q 0 0 0 rg BT 102.72 694.25 Td (both ) Tj ET Q q 0 0 0 rg BT 122.94 694.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.61 694.25 Td (second ) Tj ET Q q 0 0 0 rg BT 167.82 694.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.14 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 198.59 694.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.47 694.25 Td (first ) Tj ET Q q 0 0 0 rg BT 234.03 694.25 Td (half ) Tj ET Q q 0 0 0 rg BT 252.02 694.25 Td (of ) Tj ET Q q 0 0 0 rg BT 262.80 694.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.80 694.25 Td (. ) Tj ET Q q 0 0 0 rg BT 287.75 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 290.02 694.25 Td (The ) Tj ET Q q 0 0 0 rg BT 308.01 694.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 342.13 694.25 Td (market ) Tj ET Q q 0 0 0 rg BT 372.34 694.25 Td (continued ) Tj ET Q q 0 0 0 rg BT 414.22 694.25 Td (to ) Tj ET Q q 0 0 0 rg BT 424.45 694.25 Td (be ) Tj ET Q q 0 0 0 rg BT 436.34 694.25 Td (relatively ) Tj ET Q q 0 0 0 rg BT 476.54 694.25 Td (strong ) Tj ET Q q 0 0 0 rg BT 503.99 694.25 Td (\(despite ) Tj ET Q q 0 0 0 rg BT 538.09 694.25 Td (recent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (increases ) Tj ET Q q 0 0 0 rg BT 88.72 682.25 Td (in ) Tj ET Q q 0 0 0 rg BT 99.08 682.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 131.09 682.25 Td (rates\) ) Tj ET Q q 0 0 0 rg BT 155.88 682.25 Td (and ) Tj ET Q q 0 0 0 rg BT 172.89 682.25 Td (was ) Tj ET Q q 0 0 0 rg BT 191.02 682.25 Td (supported ) Tj ET Q q 0 0 0 rg BT 233.04 682.25 Td (by ) Tj ET Q q 0 0 0 rg BT 245.62 682.25 Td (consumer ) Tj ET Q q 0 0 0 rg BT 287.07 682.25 Td (confidence ) Tj ET Q q 0 0 0 rg BT 333.51 682.25 Td (and ) Tj ET Q q 0 0 0 rg BT 350.53 682.25 Td (growth ) Tj ET Q q 0 0 0 rg BT 381.44 682.25 Td (in ) Tj ET Q q 0 0 0 rg BT 391.79 682.25 Td (employment. ) Tj ET Q q 0 0 0 rg BT 446.86 682.25 Td ( ) Tj ET Q q 0 0 0 rg BT 449.25 682.25 Td (The ) Tj ET Q q 0 0 0 rg BT 467.38 682.25 Td (low ) Tj ET Q q 0 0 0 rg BT 484.96 682.25 Td (unemployment ) Tj ET Q q 0 0 0 rg BT 547.53 682.25 Td (rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.13 670.25 Td (related ) Tj ET Q q 0 0 0 rg BT 95.51 670.25 Td (labor ) Tj ET Q q 0 0 0 rg BT 118.25 670.25 Td (shortage ) Tj ET Q q 0 0 0 rg BT 154.31 670.25 Td (are ) Tj ET Q q 0 0 0 rg BT 168.70 670.25 Td (driving ) Tj ET Q q 0 0 0 rg BT 199.78 670.25 Td (wage ) Tj ET Q q 0 0 0 rg BT 223.06 670.25 Td (growth ) Tj ET Q q 0 0 0 rg BT 253.58 670.25 Td (which ) Tj ET Q q 0 0 0 rg BT 280.20 670.25 Td (has ) Tj ET Q q 0 0 0 rg BT 295.72 670.25 Td (added ) Tj ET Q q 0 0 0 rg BT 321.78 670.25 Td (to ) Tj ET Q q 0 0 0 rg BT 331.75 670.25 Td (our ) Tj ET Q q 0 0 0 rg BT 347.27 670.25 Td (construction ) Tj ET Q q 0 0 0 rg BT 398.89 670.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 421.07 670.25 Td (but ) Tj ET Q q 0 0 0 rg BT 436.04 670.25 Td (also ) Tj ET Q q 0 0 0 rg BT 454.33 670.25 Td (has ) Tj ET Q q 0 0 0 rg BT 469.85 670.25 Td (expanded ) Tj ET Q q 0 0 0 rg BT 510.35 670.25 Td (our ) Tj ET Q q 0 0 0 rg BT 525.87 670.25 Td (customer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (base. ) Tj ET Q q 0 0 0 rg BT 71.39 658.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.89 658.25 Td (These ) Tj ET Q q 0 0 0 rg BT 98.38 658.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 138.87 658.25 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 184.65 658.25 Td (along ) Tj ET Q q 0 0 0 rg BT 208.49 658.25 Td (with ) Tj ET Q q 0 0 0 rg BT 227.88 658.25 Td (a ) Tj ET Q q 0 0 0 rg BT 233.94 658.25 Td (constrained ) Tj ET Q q 0 0 0 rg BT 281.65 658.25 Td (supply ) Tj ET Q q 0 0 0 rg BT 309.94 658.25 Td (of ) Tj ET Q q 0 0 0 rg BT 319.89 658.25 Td (both ) Tj ET Q q 0 0 0 rg BT 339.28 658.25 Td (new ) Tj ET Q q 0 0 0 rg BT 357.56 658.25 Td (and ) Tj ET Q q 0 0 0 rg BT 373.62 658.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 406.90 658.25 Td (homes, ) Tj ET Q q 0 0 0 rg BT 437.13 658.25 Td (have ) Tj ET Q q 0 0 0 rg BT 457.62 658.25 Td (improved ) Tj ET Q q 0 0 0 rg BT 497.56 658.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 530.85 658.25 Td (demand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.25 Td (across ) Tj ET Q q 0 0 0 rg BT 76.05 646.25 Td (most ) Tj ET Q q 0 0 0 rg BT 97.05 646.25 Td (of ) Tj ET Q q 0 0 0 rg BT 106.94 646.25 Td (our ) Tj ET Q q 0 0 0 rg BT 121.83 646.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 155.04 646.25 Td (when ) Tj ET Q q 0 0 0 rg BT 178.25 646.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 219.23 646.25 Td (to ) Tj ET Q q 0 0 0 rg BT 228.57 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 242.34 646.25 Td (same ) Tj ET Q q 0 0 0 rg BT 264.45 646.25 Td (period ) Tj ET Q q 0 0 0 rg BT 291.55 646.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.88 646.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.88 646.25 Td (. ) Tj ET Q q 0 0 0 rg BT 324.94 646.25 Td ( ) Tj ET Q q 0 0 0 rg BT 326.39 646.25 Td (The ) Tj ET Q q 0 0 0 rg BT 343.49 646.25 Td (improving ) Tj ET Q q 0 0 0 rg BT 386.71 646.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 419.94 646.25 Td (demand, ) Tj ET Q q 0 0 0 rg BT 455.65 646.25 Td (together ) Tj ET Q q 0 0 0 rg BT 489.97 646.25 Td (with ) Tj ET Q q 0 0 0 rg BT 509.30 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.08 646.25 Td (continued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.25 Td (execution ) Tj ET Q q 0 0 0 rg BT 90.97 634.25 Td (of ) Tj ET Q q 0 0 0 rg BT 101.90 634.25 Td (our ) Tj ET Q q 0 0 0 rg BT 117.82 634.25 Td (strategic ) Tj ET Q q 0 0 0 rg BT 154.29 634.25 Td (business ) Tj ET Q q 0 0 0 rg BT 190.78 634.25 Td (initiatives, ) Tj ET Q q 0 0 0 rg BT 235.31 634.25 Td (enabled ) Tj ET Q q 0 0 0 rg BT 269.00 634.25 Td (us ) Tj ET Q q 0 0 0 rg BT 280.49 634.25 Td (to ) Tj ET Q q 0 0 0 rg BT 290.87 634.25 Td (achieve ) Tj ET Q q 0 0 0 rg BT 324.00 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 338.81 634.25 Td (following ) Tj ET Q q 0 0 0 rg BT 380.29 634.25 Td (improved ) Tj ET Q q 0 0 0 rg BT 421.22 634.25 Td (results ) Tj ET Q q 0 0 0 rg BT 449.92 634.25 Td (in ) Tj ET Q q 0 0 0 rg BT 460.30 634.25 Td (comparison ) Tj ET Q q 0 0 0 rg BT 509.55 634.25 Td (to ) Tj ET Q q 0 0 0 rg BT 519.92 634.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.74 634.25 Td (second ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.82 622.25 Td ( ) Tj ET Q q 0 0 0 rg BT 80.32 622.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.25 622.25 Td (first ) Tj ET Q q 0 0 0 rg BT 115.86 622.25 Td (half ) Tj ET Q q 0 0 0 rg BT 133.91 622.25 Td (of ) Tj ET Q q 0 0 0 rg BT 144.74 622.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.74 622.25 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 600.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 600.25 Td (New ) Tj ET Q q 0 0 0 rg BT 106.88 600.25 Td (contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.48 600.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.23 600.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.73 600.25 Td (17%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.06 600.25 Td ( ) Tj ET Q q 0 0 0 rg BT 206.56 600.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.84 600.25 Td (1,631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.34 600.25 Td ( ) Tj ET Q q 0 0 0 rg BT 241.84 600.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.78 600.25 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.11 600.25 Td ( ) Tj ET Q q 0 0 0 rg BT 279.61 600.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.88 600.25 Td (3,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.38 600.25 Td (, ) Tj ET Q q 0 0 0 rg BT 317.38 600.25 Td (respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 588.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 588.25 Td (Homes ) Tj ET Q q 0 0 0 rg BT 116.33 588.25 Td (delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.03 588.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.79 588.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.29 588.25 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.62 588.25 Td ( ) Tj ET Q q 0 0 0 rg BT 217.12 588.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.39 588.25 Td (1,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.89 588.25 Td ( ) Tj ET Q q 0 0 0 rg BT 252.39 588.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 281.00 588.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.94 588.25 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.27 588.25 Td ( ) Tj ET Q q 0 0 0 rg BT 318.77 588.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.05 588.25 Td (2,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.55 588.25 Td ( ) Tj ET Q q 0 0 0 rg BT 354.05 588.25 Td (homes, ) Tj ET Q q 0 0 0 rg BT 385.16 588.25 Td (respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 576.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 576.25 Td (A) Tj ET Q q 0 0 0 rg BT 91.98 576.25 Td (verage ) Tj ET Q q 0 0 0 rg BT 121.13 576.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 143.06 576.25 Td (price ) Tj ET Q q 0 0 0 rg BT 165.55 576.25 Td (of ) Tj ET Q q 0 0 0 rg BT 176.38 576.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 204.99 576.25 Td (delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.69 576.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.44 576.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.94 576.25 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.27 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 300.77 576.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.05 576.25 Td ($387,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.55 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 351.05 576.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.99 576.25 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.32 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 383.82 576.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 576.25 Td ($381,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.60 576.25 Td (, ) Tj ET Q q 0 0 0 rg BT 436.60 576.25 Td (respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 564.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 564.25 Td (Number ) Tj ET Q q 0 0 0 rg BT 120.77 564.25 Td (of ) Tj ET Q q 0 0 0 rg BT 131.60 564.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 160.21 564.25 Td (in ) Tj ET Q q 0 0 0 rg BT 170.49 564.25 Td (backlog ) Tj ET Q q 0 0 0 rg BT 204.64 564.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.36 564.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 250.19 564.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.19 564.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.69 564.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.44 564.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.94 564.25 Td (23%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.27 564.25 Td ( ) Tj ET Q q 0 0 0 rg BT 333.77 564.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.05 564.25 Td (2,966) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 552.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 552.25 Td (T) Tj ET Q q 0 0 0 rg BT 90.91 552.25 Td (otal sales value in backlog ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.93 552.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.69 552.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.19 552.25 Td (29%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.52 552.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.29 552.25 Td ($1.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.41 552.25 Td ( - an all-time record for the Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 540.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 540.25 Td (A) Tj ET Q q 0 0 0 rg BT 91.98 540.25 Td (verage ) Tj ET Q q 0 0 0 rg BT 121.13 540.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 143.06 540.25 Td (price ) Tj ET Q q 0 0 0 rg BT 165.55 540.25 Td (of ) Tj ET Q q 0 0 0 rg BT 176.38 540.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 204.99 540.25 Td (in ) Tj ET Q q 0 0 0 rg BT 215.27 540.25 Td (backlog ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.42 540.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.17 540.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.67 540.25 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.00 540.25 Td ( ) Tj ET Q q 0 0 0 rg BT 305.50 540.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.78 540.25 Td ($396,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 528.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 528.25 Td (Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.99 528.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.74 528.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.24 528.25 Td (22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.57 528.25 Td ( ) Tj ET Q q 0 0 0 rg BT 184.07 528.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.35 528.25 Td ($558.1 ) Tj ET Q q 0 0 0 rg BT 224.35 528.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.24 528.25 Td ( ) Tj ET Q q 0 0 0 rg BT 255.74 528.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.68 528.25 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.01 528.25 Td ( ) Tj ET Q q 0 0 0 rg BT 293.51 528.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.79 528.25 Td ($996.0 ) Tj ET Q q 0 0 0 rg BT 333.79 528.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.68 528.25 Td (, ) Tj ET Q q 0 0 0 rg BT 367.68 528.25 Td (respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 516.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 516.25 Td (Number ) Tj ET Q q 0 0 0 rg BT 120.77 516.25 Td (of ) Tj ET Q q 0 0 0 rg BT 131.60 516.25 Td (active ) Tj ET Q q 0 0 0 rg BT 157.97 516.25 Td (communities ) Tj ET Q q 0 0 0 rg BT 212.13 516.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.85 516.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 257.68 516.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.68 516.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.18 516.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.93 516.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.43 516.25 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.76 516.25 Td ( ) Tj ET Q q 0 0 0 rg BT 341.26 516.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.54 516.25 Td (209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.54 516.25 Td ( ) Tj ET Q q 0 0 0 rg BT 369.04 516.25 Td (- ) Tj ET Q q 0 0 0 rg BT 374.87 516.25 Td (an ) Tj ET Q q 0 0 0 rg BT 386.81 516.25 Td (all-time ) Tj ET Q q 0 0 0 rg BT 420.41 516.25 Td (record ) Tj ET Q q 0 0 0 rg BT 448.44 516.25 Td (for ) Tj ET Q q 0 0 0 rg BT 462.60 516.25 Td (the ) Tj ET Q q 0 0 0 rg BT 477.32 516.25 Td (Company) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 492.68505859375 m 222.8447265625 492.68505859375 l s q 0 0 0 rg BT 49.50 494.25 Td (Summary of Company Financial Results) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 472.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.27 472.25 Td (calculations ) Tj ET Q q 0 0 0 rg BT 118.93 472.25 Td (of ) Tj ET Q q 0 0 0 rg BT 129.48 472.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 166.15 472.25 Td (income ) Tj ET Q q 0 0 0 rg BT 197.80 472.25 Td (befor) Tj ET Q q 0 0 0 rg BT 218.54 472.25 Td (e ) Tj ET Q q 0 0 0 rg BT 225.75 472.25 Td (income ) Tj ET Q q 0 0 0 rg BT 257.40 472.25 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 283.22 472.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 319.88 472.25 Td (net ) Tj ET Q q 0 0 0 rg BT 334.88 472.25 Td (income ) Tj ET Q q 0 0 0 rg BT 366.53 472.25 Td (available ) Tj ET Q q 0 0 0 rg BT 406.51 472.25 Td (to ) Tj ET Q q 0 0 0 rg BT 417.07 472.25 Td (common ) Tj ET Q q 0 0 0 rg BT 453.72 472.25 Td (shar) Tj ET Q q 0 0 0 rg BT 471.14 472.25 Td (eholders, ) Tj ET Q q 0 0 0 rg BT 510.85 472.25 Td (and ) Tj ET Q q 0 0 0 rg BT 528.63 472.25 Td (adjusted ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 460.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 83.08 460.25 Td (gr) Tj ET Q q 0 0 0 rg BT 91.60 460.25 Td (oss ) Tj ET Q q 0 0 0 rg BT 106.29 460.25 Td (mar) Tj ET Q q 0 0 0 rg BT 122.03 460.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 136.71 460.25 Td (\(r) Tj ET Q q 0 0 0 rg BT 143.56 460.25 Td (eferr) Tj ET Q q 0 0 0 rg BT 162.63 460.25 Td (ed ) Tj ET Q q 0 0 0 rg BT 173.98 460.25 Td (to ) Tj ET Q q 0 0 0 rg BT 183.66 460.25 Td (below\), ) Tj ET Q q 0 0 0 rg BT 215.29 460.25 Td (which ) Tj ET Q q 0 0 0 rg BT 241.08 460.25 Td (we ) Tj ET Q q 0 0 0 rg BT 254.09 460.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 284.31 460.25 Td (pr) Tj ET Q q 0 0 0 rg BT 292.83 460.25 Td (ovide ) Tj ET Q q 0 0 0 rg BT 316.39 460.25 Td (a ) Tj ET Q q 0 0 0 rg BT 323.30 460.25 Td (clear) Tj ET Q q 0 0 0 rg BT 343.48 460.25 Td (er ) Tj ET Q q 0 0 0 rg BT 353.71 460.25 Td (measur) Tj ET Q q 0 0 0 rg BT 382.79 460.25 Td (e ) Tj ET Q q 0 0 0 rg BT 389.13 460.25 Td (of ) Tj ET Q q 0 0 0 rg BT 398.82 460.25 Td (the ) Tj ET Q q 0 0 0 rg BT 412.94 460.25 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 447.63 460.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 500.63 460.25 Td (of ) Tj ET Q q 0 0 0 rg BT 510.32 460.25 Td (our ) Tj ET Q q 0 0 0 rg BT 526.11 460.25 Td (business, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 448.25 Td (ar) Tj ET Q q 0 0 0 rg BT 58.02 448.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.30 448.25 Td (described ) Tj ET Q q 0 0 0 rg BT 107.02 448.25 Td (and ) Tj ET Q q 0 0 0 rg BT 124.86 448.25 Td (r) Tj ET Q q 0 0 0 rg BT 128.38 448.25 Td (econciled ) Tj ET Q q 0 0 0 rg BT 169.53 448.25 Td (to ) Tj ET Q q 0 0 0 rg BT 180.15 448.25 Td (income ) Tj ET Q q 0 0 0 rg BT 211.87 448.25 Td (befor) Tj ET Q q 0 0 0 rg BT 232.60 448.25 Td (e ) Tj ET Q q 0 0 0 rg BT 239.88 448.25 Td (income ) Tj ET Q q 0 0 0 rg BT 271.60 448.25 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 297.49 448.25 Td (net ) Tj ET Q q 0 0 0 rg BT 312.55 448.25 Td (income ) Tj ET Q q 0 0 0 rg BT 344.26 448.25 Td (available ) Tj ET Q q 0 0 0 rg BT 384.32 448.25 Td (to ) Tj ET Q q 0 0 0 rg BT 394.94 448.25 Td (common ) Tj ET Q q 0 0 0 rg BT 431.66 448.25 Td (shar) Tj ET Q q 0 0 0 rg BT 449.07 448.25 Td (eholders, ) Tj ET Q q 0 0 0 rg BT 488.85 448.25 Td (and ) Tj ET Q q 0 0 0 rg BT 506.69 448.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 541.20 448.25 Td (gr) Tj ET Q q 0 0 0 rg BT 549.72 448.25 Td (oss ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (mar) Tj ET Q q 0 0 0 rg BT 65.24 436.25 Td (gin, ) Tj ET Q q 0 0 0 rg BT 83.02 436.25 Td (the ) Tj ET Q q 0 0 0 rg BT 97.74 436.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 135.79 436.25 Td (measur) Tj ET Q q 0 0 0 rg BT 164.86 436.25 Td (es ) Tj ET Q q 0 0 0 rg BT 175.69 436.25 Td (that ) Tj ET Q q 0 0 0 rg BT 193.75 436.25 Td (ar) Tj ET Q q 0 0 0 rg BT 202.27 436.25 Td (e ) Tj ET Q q 0 0 0 rg BT 209.21 436.25 Td (calculated ) Tj ET Q q 0 0 0 rg BT 253.36 436.25 Td (using ) Tj ET Q q 0 0 0 rg BT 277.53 436.25 Td (our ) Tj ET Q q 0 0 0 rg BT 293.92 436.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 319.29 436.25 Td ( ) Tj ET Q q 0 0 0 rg BT 321.79 436.25 Td (r) Tj ET Q q 0 0 0 rg BT 325.31 436.25 Td (esults, ) Tj ET Q q 0 0 0 rg BT 353.08 436.25 Td (below ) Tj ET Q q 0 0 0 rg BT 379.47 436.25 Td (under ) Tj ET Q q 0 0 0 rg BT 405.30 436.25 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 456.23 436.25 Td ( ) Tj ET Q q 0 0 0 rg BT 458.73 436.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 500.11 436.25 Td (Measur) Tj ET Q q 0 0 0 rg BT 530.29 436.25 Td (es.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 82.35 414.25 Td (before ) Tj ET Q q 0 0 0 rg BT 110.75 414.25 Td (income ) Tj ET Q q 0 0 0 rg BT 143.04 414.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 166.45 414.25 Td (for ) Tj ET Q q 0 0 0 rg BT 180.98 414.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.06 414.25 Td (second ) Tj ET Q q 0 0 0 rg BT 226.69 414.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 257.87 414.25 Td (of ) Tj ET Q q 0 0 0 rg BT 269.06 414.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.06 414.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.92 414.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.68 414.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.54 414.25 Td (33%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.87 414.25 Td ( ) Tj ET Q q 0 0 0 rg BT 353.73 414.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.03 414.25 Td ($25.2 ) Tj ET Q q 0 0 0 rg BT 401.40 414.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.29 414.25 Td ( ) Tj ET Q q 0 0 0 rg BT 433.15 414.25 Td (in ) Tj ET Q q 0 0 0 rg BT 443.79 414.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.87 414.25 Td (second ) Tj ET Q q 0 0 0 rg BT 489.50 414.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 520.68 414.25 Td (of ) Tj ET Q q 0 0 0 rg BT 531.87 414.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.87 414.25 Td ( ) Tj ET Q q 0 0 0 rg BT 554.74 414.25 Td (to ) Tj ET Q q 0 0 0 rg BT 565.01 414.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.25 Td ($33.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 402.25 Td ( ) Tj ET Q q 0 0 0 rg BT 105.29 402.25 Td (in ) Tj ET Q q 0 0 0 rg BT 114.96 402.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.07 402.25 Td (second ) Tj ET Q q 0 0 0 rg BT 158.73 402.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 188.94 402.25 Td (of ) Tj ET Q q 0 0 0 rg BT 199.17 402.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.17 402.25 Td (. ) Tj ET Q q 0 0 0 rg BT 223.56 402.25 Td ( ) Tj ET Q q 0 0 0 rg BT 225.46 402.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 257.34 402.25 Td (before ) Tj ET Q q 0 0 0 rg BT 284.77 402.25 Td (income ) Tj ET Q q 0 0 0 rg BT 316.10 402.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 338.54 402.25 Td (for ) Tj ET Q q 0 0 0 rg BT 352.09 402.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.20 402.25 Td (second ) Tj ET Q q 0 0 0 rg BT 395.87 402.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 426.08 402.25 Td (of ) Tj ET Q q 0 0 0 rg BT 436.30 402.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 402.25 Td ( ) Tj ET Q q 0 0 0 rg BT 458.20 402.25 Td (was ) Tj ET Q q 0 0 0 rg BT 475.64 402.25 Td (unfavorably ) Tj ET Q q 0 0 0 rg BT 525.85 402.25 Td (impacted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.72 390.25 Td ($3.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.61 390.25 Td ( ) Tj ET Q q 0 0 0 rg BT 112.83 390.25 Td (of ) Tj ET Q q 0 0 0 rg BT 123.39 390.25 Td (char) Tj ET Q q 0 0 0 rg BT 140.41 390.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 155.96 390.25 Td (for ) Tj ET Q q 0 0 0 rg BT 169.85 390.25 Td (the ) Tj ET Q q 0 0 0 rg BT 184.29 390.25 Td (amortization ) Tj ET Q q 0 0 0 rg BT 237.04 390.25 Td (of ) Tj ET Q q 0 0 0 rg BT 247.60 390.25 Td (inventory ) Tj ET Q q 0 0 0 rg BT 288.14 390.25 Td (profit ) Tj ET Q q 0 0 0 rg BT 312.58 390.25 Td (write-up ) Tj ET Q q 0 0 0 rg BT 348.68 390.25 Td (related ) Tj ET Q q 0 0 0 rg BT 378.10 390.25 Td (to ) Tj ET Q q 0 0 0 rg BT 388.10 390.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 425.86 390.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 471.96 390.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 521.95 390.25 Td (on ) Tj ET Q q 0 0 0 rg BT 534.17 390.25 Td (Detroit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 78.17 378.25 Td (that ) Tj ET Q q 0 0 0 rg BT 95.72 378.25 Td (were ) Tj ET Q q 0 0 0 rg BT 117.71 378.25 Td (delivered ) Tj ET Q q 0 0 0 rg BT 157.47 378.25 Td (during ) Tj ET Q q 0 0 0 rg BT 186.14 378.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.91 378.25 Td (second ) Tj ET Q q 0 0 0 rg BT 231.24 378.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 262.11 378.25 Td (of ) Tj ET Q q 0 0 0 rg BT 273.00 378.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 378.25 Td ( ) Tj ET Q q 0 0 0 rg BT 295.56 378.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 331.43 378.25 Td (as ) Tj ET Q q 0 0 0 rg BT 342.32 378.25 Td (a ) Tj ET Q q 0 0 0 rg BT 349.32 378.25 Td (result ) Tj ET Q q 0 0 0 rg BT 374.09 378.25 Td (of ) Tj ET Q q 0 0 0 rg BT 384.98 378.25 Td (our ) Tj ET Q q 0 0 0 rg BT 400.87 378.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 447.31 378.25 Td (of ) Tj ET Q q 0 0 0 rg BT 458.20 378.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 495.19 378.25 Td (Homes ) Tj ET Q q 0 0 0 rg BT 526.08 378.25 Td (in ) Tj ET Q q 0 0 0 rg BT 536.42 378.25 Td (March ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 74.07 366.25 Td ( ) Tj ET Q q 0 0 0 rg BT 76.13 366.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 108.18 366.25 Td (before ) Tj ET Q q 0 0 0 rg BT 135.78 366.25 Td (income ) Tj ET Q q 0 0 0 rg BT 167.28 366.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 189.90 366.25 Td (for ) Tj ET Q q 0 0 0 rg BT 203.62 366.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.90 366.25 Td (second ) Tj ET Q q 0 0 0 rg BT 247.74 366.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 278.12 366.25 Td (of ) Tj ET Q q 0 0 0 rg BT 288.51 366.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.51 366.25 Td ( ) Tj ET Q q 0 0 0 rg BT 310.58 366.25 Td (was ) Tj ET Q q 0 0 0 rg BT 328.20 366.25 Td (unfavorably ) Tj ET Q q 0 0 0 rg BT 378.58 366.25 Td (impacted ) Tj ET Q q 0 0 0 rg BT 417.29 366.25 Td (by ) Tj ET Q q 0 0 0 rg BT 429.36 366.25 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.86 366.25 Td ($8.5 ) Tj ET Q q 0 0 0 rg BT 460.43 366.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.32 366.25 Td ( ) Tj ET Q q 0 0 0 rg BT 491.38 366.25 Td (char) Tj ET Q q 0 0 0 rg BT 508.41 366.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 519.92 366.25 Td (for ) Tj ET Q q 0 0 0 rg BT 533.64 366.25 Td (stucco-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.25 Td (related ) Tj ET Q q 0 0 0 rg BT 78.53 354.25 Td (repair ) Tj ET Q q 0 0 0 rg BT 103.68 354.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 125.51 354.25 Td (in ) Tj ET Q q 0 0 0 rg BT 135.12 354.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 164.15 354.25 Td (of ) Tj ET Q q 0 0 0 rg BT 174.31 354.25 Td (our ) Tj ET Q q 0 0 0 rg BT 189.47 354.25 Td (Florida ) Tj ET Q q 0 0 0 rg BT 220.19 354.25 Td (communities ) Tj ET Q q 0 0 0 rg BT 273.68 354.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 287.17 354.25 Td (more ) Tj ET Q q 0 0 0 rg BT 309.54 354.25 Td (fully ) Tj ET Q q 0 0 0 rg BT 330.26 354.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 370.42 354.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 380.0283203125 352.9169921875 m 406.296875 352.9169921875 l s q 0 0 1 rg BT 380.03 354.25 Td (Note ) Tj ET Q q 0 0 1 rg BT 401.30 354.25 Td (6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 406.30 354.25 Td ( ) Tj ET Q q 0 0 0 rg BT 408.13 354.25 Td (to ) Tj ET Q q 0 0 0 rg BT 417.74 354.25 Td (our ) Tj ET Q q 0 0 0 rg BT 432.90 354.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 469.71 354.25 Td (statements\). ) Tj ET Q q 0 0 0 rg BT 519.58 354.25 Td ( ) Tj ET Q q 0 0 0 rg BT 521.41 354.25 Td (Excluding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.25 Td (the ) Tj ET Q q 0 0 0 rg BT 63.99 342.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 101.79 342.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 147.93 342.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 197.98 342.25 Td (for ) Tj ET Q q 0 0 0 rg BT 211.91 342.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.39 342.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 256.98 342.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 283.13 342.25 Td (June ) Tj ET Q q 0 0 0 rg BT 303.72 342.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 318.49 342.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.49 342.25 Td ( ) Tj ET Q q 0 0 0 rg BT 340.76 342.25 Td (and ) Tj ET Q q 0 0 0 rg BT 357.47 342.25 Td (the ) Tj ET Q q 0 0 0 rg BT 371.96 342.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 430.31 342.25 Td (char) Tj ET Q q 0 0 0 rg BT 447.33 342.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 459.04 342.25 Td (for ) Tj ET Q q 0 0 0 rg BT 472.97 342.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.46 342.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 518.04 342.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 544.19 342.25 Td (June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 64.71 330.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.71 330.25 Td (, ) Tj ET Q q 0 0 0 rg BT 89.92 330.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 125.96 330.25 Td (income ) Tj ET Q q 0 0 0 rg BT 158.11 330.25 Td (before ) Tj ET Q q 0 0 0 rg BT 186.36 330.25 Td (income ) Tj ET Q q 0 0 0 rg BT 218.50 330.25 Td (taxes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.76 330.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.52 330.25 Td (d ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.23 330.25 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.56 330.25 Td ( ) Tj ET Q q 0 0 0 rg BT 298.27 330.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.42 330.25 Td ($33.7 ) Tj ET Q q 0 0 0 rg BT 345.64 330.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.53 330.25 Td ( ) Tj ET Q q 0 0 0 rg BT 377.24 330.25 Td (in ) Tj ET Q q 0 0 0 rg BT 387.73 330.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.66 330.25 Td (second ) Tj ET Q q 0 0 0 rg BT 433.14 330.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 464.17 330.25 Td (of ) Tj ET Q q 0 0 0 rg BT 475.21 330.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.21 330.25 Td ( ) Tj ET Q q 0 0 0 rg BT 497.92 330.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.41 330.25 Td ($36.5 ) Tj ET Q q 0 0 0 rg BT 533.63 330.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.25 Td (in ) Tj ET Q q 0 0 0 rg BT 58.54 318.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.01 318.25 Td (second ) Tj ET Q q 0 0 0 rg BT 101.04 318.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 130.61 318.25 Td (of ) Tj ET Q q 0 0 0 rg BT 140.20 318.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.20 318.25 Td (. ) Tj ET Q q 0 0 0 rg BT 163.95 318.25 Td ( ) Tj ET Q q 0 0 0 rg BT 165.21 318.25 Td (For ) Tj ET Q q 0 0 0 rg BT 180.36 318.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.83 318.25 Td (six ) Tj ET Q q 0 0 0 rg BT 206.76 318.25 Td (months ) Tj ET Q q 0 0 0 rg BT 237.47 318.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 262.60 318.25 Td (June ) Tj ET Q q 0 0 0 rg BT 282.19 318.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 295.95 318.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.95 318.25 Td (, ) Tj ET Q q 0 0 0 rg BT 319.70 318.25 Td (income ) Tj ET Q q 0 0 0 rg BT 350.39 318.25 Td (before ) Tj ET Q q 0 0 0 rg BT 377.19 318.25 Td (income ) Tj ET Q q 0 0 0 rg BT 407.88 318.25 Td (taxes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.68 318.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.44 318.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.69 318.25 Td (1) Tj ET Q q 0 0 0 rg BT 473.32 318.25 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 318.25 Td ( ) Tj ET Q q 0 0 0 rg BT 487.91 318.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.61 318.25 Td ($51.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.50 318.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.25 Td (for ) Tj ET Q q 0 0 0 rg BT 63.40 306.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.85 306.25 Td (first ) Tj ET Q q 0 0 0 rg BT 96.19 306.25 Td (half ) Tj ET Q q 0 0 0 rg BT 113.98 306.25 Td (of ) Tj ET Q q 0 0 0 rg BT 124.54 306.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.54 306.25 Td ( ) Tj ET Q q 0 0 0 rg BT 146.78 306.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.79 306.25 Td ($57.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.69 306.25 Td ( ) Tj ET Q q 0 0 0 rg BT 212.92 306.25 Td (for ) Tj ET Q q 0 0 0 rg BT 226.82 306.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.27 306.25 Td (first ) Tj ET Q q 0 0 0 rg BT 259.62 306.25 Td (half ) Tj ET Q q 0 0 0 rg BT 277.40 306.25 Td (of ) Tj ET Q q 0 0 0 rg BT 287.97 306.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.97 306.25 Td (. ) Tj ET Q q 0 0 0 rg BT 312.70 306.25 Td ( ) Tj ET Q q 0 0 0 rg BT 314.94 306.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 347.16 306.25 Td (before ) Tj ET Q q 0 0 0 rg BT 374.93 306.25 Td (income ) Tj ET Q q 0 0 0 rg BT 406.60 306.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 429.39 306.25 Td (for ) Tj ET Q q 0 0 0 rg BT 443.28 306.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.74 306.25 Td (six ) Tj ET Q q 0 0 0 rg BT 471.64 306.25 Td (months ) Tj ET Q q 0 0 0 rg BT 503.33 306.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 529.44 306.25 Td (June ) Tj ET Q q 0 0 0 rg BT 550.01 306.25 Td (30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 294.25 Td ( ) Tj ET Q q 0 0 0 rg BT 71.25 294.25 Td (was ) Tj ET Q q 0 0 0 rg BT 88.56 294.25 Td (unfavorably ) Tj ET Q q 0 0 0 rg BT 138.62 294.25 Td (impacted ) Tj ET Q q 0 0 0 rg BT 177.03 294.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.78 294.25 Td ($3.9 ) Tj ET Q q 0 0 0 rg BT 208.03 294.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.92 294.25 Td ( ) Tj ET Q q 0 0 0 rg BT 238.67 294.25 Td (of ) Tj ET Q q 0 0 0 rg BT 248.75 294.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 286.04 294.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 331.67 294.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 381.19 294.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.38 294.25 Td ($1.7 ) Tj ET Q q 0 0 0 rg BT 416.64 294.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.53 294.25 Td ( ) Tj ET Q q 0 0 0 rg BT 447.28 294.25 Td (of ) Tj ET Q q 0 0 0 rg BT 457.36 294.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 503.00 294.25 Td (and ) Tj ET Q q 0 0 0 rg BT 519.19 294.25 Td (integration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 74.39 282.25 Td (both ) Tj ET Q q 0 0 0 rg BT 94.56 282.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 130.26 282.25 Td (as ) Tj ET Q q 0 0 0 rg BT 140.98 282.25 Td (a ) Tj ET Q q 0 0 0 rg BT 147.81 282.25 Td (result ) Tj ET Q q 0 0 0 rg BT 172.42 282.25 Td (of ) Tj ET Q q 0 0 0 rg BT 183.14 282.25 Td (our ) Tj ET Q q 0 0 0 rg BT 198.86 282.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 245.13 282.25 Td (of ) Tj ET Q q 0 0 0 rg BT 255.85 282.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 292.68 282.25 Td (Homes. ) Tj ET Q q 0 0 0 rg BT 325.90 282.25 Td ( ) Tj ET Q q 0 0 0 rg BT 328.29 282.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 360.66 282.25 Td (before ) Tj ET Q q 0 0 0 rg BT 388.59 282.25 Td (income ) Tj ET Q q 0 0 0 rg BT 420.41 282.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 443.35 282.25 Td (for ) Tj ET Q q 0 0 0 rg BT 457.40 282.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.01 282.25 Td (six ) Tj ET Q q 0 0 0 rg BT 486.07 282.25 Td (months ) Tj ET Q q 0 0 0 rg BT 517.91 282.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 544.17 282.25 Td (June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 63.94 270.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.94 270.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.89 270.25 Td (was ) Tj ET Q q 0 0 0 rg BT 103.39 270.25 Td (unfavorably ) Tj ET Q q 0 0 0 rg BT 153.65 270.25 Td (impacted ) Tj ET Q q 0 0 0 rg BT 192.24 270.25 Td (by ) Tj ET Q q 0 0 0 rg BT 204.19 270.25 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.57 270.25 Td ($8.5 ) Tj ET Q q 0 0 0 rg BT 235.01 270.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.91 270.25 Td ( ) Tj ET Q q 0 0 0 rg BT 265.85 270.25 Td (char) Tj ET Q q 0 0 0 rg BT 282.88 270.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 294.26 270.25 Td (for ) Tj ET Q q 0 0 0 rg BT 307.87 270.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 365.89 270.25 Td (repair ) Tj ET Q q 0 0 0 rg BT 391.15 270.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 413.09 270.25 Td (in ) Tj ET Q q 0 0 0 rg BT 422.82 270.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 451.96 270.25 Td (of ) Tj ET Q q 0 0 0 rg BT 462.24 270.25 Td (our ) Tj ET Q q 0 0 0 rg BT 477.51 270.25 Td (Florida ) Tj ET Q q 0 0 0 rg BT 508.35 270.25 Td (communities. ) Tj ET Q q 0 0 0 rg BT 565.01 270.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.25 Td (Excluding ) Tj ET Q q 0 0 0 rg BT 92.30 258.25 Td (these ) Tj ET Q q 0 0 0 rg BT 114.53 258.25 Td (acquisition-related ) Tj ET Q q 0 0 0 rg BT 190.64 258.25 Td (char) Tj ET Q q 0 0 0 rg BT 207.67 258.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 222.69 258.25 Td (for ) Tj ET Q q 0 0 0 rg BT 236.04 258.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.95 258.25 Td (first ) Tj ET Q q 0 0 0 rg BT 267.75 258.25 Td (half ) Tj ET Q q 0 0 0 rg BT 284.99 258.25 Td (of ) Tj ET Q q 0 0 0 rg BT 295.01 258.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.01 258.25 Td ( ) Tj ET Q q 0 0 0 rg BT 316.70 258.25 Td (and ) Tj ET Q q 0 0 0 rg BT 332.83 258.25 Td (the ) Tj ET Q q 0 0 0 rg BT 346.74 258.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 404.51 258.25 Td (char) Tj ET Q q 0 0 0 rg BT 421.54 258.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 432.67 258.25 Td (for ) Tj ET Q q 0 0 0 rg BT 446.02 258.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.93 258.25 Td (first ) Tj ET Q q 0 0 0 rg BT 477.73 258.25 Td (half ) Tj ET Q q 0 0 0 rg BT 494.97 258.25 Td (of ) Tj ET Q q 0 0 0 rg BT 504.99 258.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.99 258.25 Td (, ) Tj ET Q q 0 0 0 rg BT 529.18 258.25 Td (adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.25 Td (income ) Tj ET Q q 0 0 0 rg BT 81.43 246.25 Td (before ) Tj ET Q q 0 0 0 rg BT 109.47 246.25 Td (income ) Tj ET Q q 0 0 0 rg BT 141.40 246.25 Td (taxes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.45 246.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.21 246.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.71 246.25 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.04 246.25 Td ( ) Tj ET Q q 0 0 0 rg BT 220.54 246.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.47 246.25 Td ($60.0 ) Tj ET Q q 0 0 0 rg BT 267.47 246.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.37 246.25 Td ( ) Tj ET Q q 0 0 0 rg BT 298.87 246.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.14 246.25 Td (2017's ) Tj ET Q q 0 0 0 rg BT 337.34 246.25 Td (first ) Tj ET Q q 0 0 0 rg BT 355.95 246.25 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.49 246.25 Td ( ) Tj ET Q q 0 0 0 rg BT 373.99 246.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.27 246.25 Td ($63.0 ) Tj ET Q q 0 0 0 rg BT 409.27 246.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.16 246.25 Td ( ) Tj ET Q q 0 0 0 rg BT 440.66 246.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.94 246.25 Td (2018's ) Tj ET Q q 0 0 0 rg BT 479.13 246.25 Td (first ) Tj ET Q q 0 0 0 rg BT 497.74 246.25 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.29 246.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 224.25 Td (e ) Tj ET Q q 0 0 0 rg BT 64.91 224.25 Td (achieved ) Tj ET Q q 0 0 0 rg BT 102.77 224.25 Td (net ) Tj ET Q q 0 0 0 rg BT 117.32 224.25 Td (income ) Tj ET Q q 0 0 0 rg BT 149.09 224.25 Td (available ) Tj ET Q q 0 0 0 rg BT 187.51 224.25 Td (to ) Tj ET Q q 0 0 0 rg BT 197.62 224.25 Td (common ) Tj ET Q q 0 0 0 rg BT 234.95 224.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 287.82 224.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.49 224.25 Td ($27.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.38 224.25 Td (, ) Tj ET Q q 0 0 0 rg BT 357.21 224.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.87 224.25 Td ($0.96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.37 224.25 Td ( ) Tj ET Q q 0 0 0 rg BT 392.71 224.25 Td (per ) Tj ET Q q 0 0 0 rg BT 407.81 224.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 437.91 224.25 Td (share, ) Tj ET Q q 0 0 0 rg BT 463.85 224.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.96 224.25 Td (2018's ) Tj ET Q q 0 0 0 rg BT 501.98 224.25 Td (second ) Tj ET Q q 0 0 0 rg BT 532.08 224.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.00 224.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.25 Td (which ) Tj ET Q q 0 0 0 rg BT 75.60 212.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 110.58 212.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.68 212.25 Td ($3.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.57 212.25 Td ( ) Tj ET Q q 0 0 0 rg BT 167.22 212.25 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 197.20 212.25 Td (char) Tj ET Q q 0 0 0 rg BT 214.22 212.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 225.32 212.25 Td (for ) Tj ET Q q 0 0 0 rg BT 238.64 212.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 275.83 212.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 321.36 212.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 370.79 212.25 Td (as ) Tj ET Q q 0 0 0 rg BT 380.78 212.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 420.77 212.25 Td (above. ) Tj ET Q q 0 0 0 rg BT 448.80 212.25 Td ( ) Tj ET Q q 0 0 0 rg BT 450.34 212.25 Td (This ) Tj ET Q q 0 0 0 rg BT 469.78 212.25 Td (compares ) Tj ET Q q 0 0 0 rg BT 509.75 212.25 Td (to ) Tj ET Q q 0 0 0 rg BT 519.19 212.25 Td (net ) Tj ET Q q 0 0 0 rg BT 533.06 212.25 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.25 Td (available ) Tj ET Q q 0 0 0 rg BT 89.35 200.25 Td (to ) Tj ET Q q 0 0 0 rg BT 100.89 200.25 Td (common ) Tj ET Q q 0 0 0 rg BT 139.65 200.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 193.94 200.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.04 200.25 Td ($15.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.93 200.25 Td (, ) Tj ET Q q 0 0 0 rg BT 266.19 200.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.28 200.25 Td ($0.55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.78 200.25 Td ( ) Tj ET Q q 0 0 0 rg BT 304.54 200.25 Td (per ) Tj ET Q q 0 0 0 rg BT 321.07 200.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 352.61 200.25 Td (share, ) Tj ET Q q 0 0 0 rg BT 379.97 200.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 200.25 Td (2017's ) Tj ET Q q 0 0 0 rg BT 420.96 200.25 Td (second ) Tj ET Q q 0 0 0 rg BT 452.49 200.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.40 200.25 Td (, ) Tj ET Q q 0 0 0 rg BT 486.67 200.25 Td (which ) Tj ET Q q 0 0 0 rg BT 514.87 200.25 Td (included ) Tj ET Q q 0 0 0 rg BT 553.06 200.25 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.25 Td ($8.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 188.25 Td ( ) Tj ET Q q 0 0 0 rg BT 100.77 188.25 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 131.47 188.25 Td (char) Tj ET Q q 0 0 0 rg BT 148.49 188.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 160.31 188.25 Td (for ) Tj ET Q q 0 0 0 rg BT 174.35 188.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 232.81 188.25 Td (repair ) Tj ET Q q 0 0 0 rg BT 258.51 188.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 280.89 188.25 Td (as ) Tj ET Q q 0 0 0 rg BT 291.60 188.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 332.31 188.25 Td (above. ) Tj ET Q q 0 0 0 rg BT 361.07 188.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.45 188.25 Td (Exclusive ) Tj ET Q q 0 0 0 rg BT 405.26 188.25 Td (of ) Tj ET Q q 0 0 0 rg BT 415.97 188.25 Td (the ) Tj ET Q q 0 0 0 rg BT 430.57 188.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 468.49 188.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 514.74 188.25 Td (adjustments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.51 176.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.97 176.25 Td (second ) Tj ET Q q 0 0 0 rg BT 103.97 176.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 134.52 176.25 Td (of ) Tj ET Q q 0 0 0 rg BT 145.09 176.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.09 176.25 Td ( ) Tj ET Q q 0 0 0 rg BT 167.33 176.25 Td (and ) Tj ET Q q 0 0 0 rg BT 184.00 176.25 Td (the ) Tj ET Q q 0 0 0 rg BT 198.46 176.25 Td (char) Tj ET Q q 0 0 0 rg BT 215.48 176.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 227.16 176.25 Td (for ) Tj ET Q q 0 0 0 rg BT 241.05 176.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 299.37 176.25 Td (repair ) Tj ET Q q 0 0 0 rg BT 324.92 176.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 347.16 176.25 Td (in ) Tj ET Q q 0 0 0 rg BT 357.17 176.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.62 176.25 Td (second ) Tj ET Q q 0 0 0 rg BT 401.63 176.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 432.18 176.25 Td (of ) Tj ET Q q 0 0 0 rg BT 442.75 176.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.75 176.25 Td (, ) Tj ET Q q 0 0 0 rg BT 467.48 176.25 Td (our ) Tj ET Q q 0 0 0 rg BT 483.05 176.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 518.61 176.25 Td (net ) Tj ET Q q 0 0 0 rg BT 533.06 176.25 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.25 Td (available ) Tj ET Q q 0 0 0 rg BT 88.24 164.25 Td (to ) Tj ET Q q 0 0 0 rg BT 98.67 164.25 Td (common ) Tj ET Q q 0 0 0 rg BT 136.32 164.25 Td (shareholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.51 164.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.26 164.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.92 164.25 Td ($8.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.81 164.25 Td ( ) Tj ET Q q 0 0 0 rg BT 281.46 164.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.89 164.25 Td ($30.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.78 164.25 Td ( ) Tj ET Q q 0 0 0 rg BT 348.44 164.25 Td (in ) Tj ET Q q 0 0 0 rg BT 358.87 164.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.74 164.25 Td (second ) Tj ET Q q 0 0 0 rg BT 404.16 164.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 435.13 164.25 Td (of ) Tj ET Q q 0 0 0 rg BT 446.11 164.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.11 164.25 Td ( ) Tj ET Q q 0 0 0 rg BT 468.76 164.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 510.84 164.25 Td (to ) Tj ET Q q 0 0 0 rg BT 521.27 164.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 543.36 164.25 Td (year) Tj ET Q q 0 0 0 rg BT 560.02 164.25 Td (. ) Tj ET Q q 0 0 0 rg BT 565.02 164.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.43 152.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.25 152.25 Td (first ) Tj ET Q q 0 0 0 rg BT 93.96 152.25 Td (half ) Tj ET Q q 0 0 0 rg BT 112.11 152.25 Td (of ) Tj ET Q q 0 0 0 rg BT 123.04 152.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.04 152.25 Td (, ) Tj ET Q q 0 0 0 rg BT 148.15 152.25 Td (we ) Tj ET Q q 0 0 0 rg BT 162.41 152.25 Td (achieved ) Tj ET Q q 0 0 0 rg BT 200.54 152.25 Td (net ) Tj ET Q q 0 0 0 rg BT 215.36 152.25 Td (income ) Tj ET Q q 0 0 0 rg BT 247.40 152.25 Td (available ) Tj ET Q q 0 0 0 rg BT 286.09 152.25 Td (to ) Tj ET Q q 0 0 0 rg BT 296.47 152.25 Td (common ) Tj ET Q q 0 0 0 rg BT 334.07 152.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 387.21 152.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.14 152.25 Td ($46.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.03 152.25 Td (, ) Tj ET Q q 0 0 0 rg BT 457.14 152.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.07 152.25 Td ($1.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.57 152.25 Td ( ) Tj ET Q q 0 0 0 rg BT 493.17 152.25 Td (per ) Tj ET Q q 0 0 0 rg BT 508.54 152.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 538.92 152.25 Td (share, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.25 Td (which ) Tj ET Q q 0 0 0 rg BT 75.89 140.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 111.17 140.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.57 140.25 Td ($3.9 ) Tj ET Q q 0 0 0 rg BT 137.02 140.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.92 140.25 Td ( ) Tj ET Q q 0 0 0 rg BT 167.87 140.25 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 198.14 140.25 Td (char) Tj ET Q q 0 0 0 rg BT 215.17 140.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 226.56 140.25 Td (for ) Tj ET Q q 0 0 0 rg BT 240.18 140.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 277.67 140.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 323.50 140.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 373.23 140.25 Td (and ) Tj ET Q q 0 0 0 rg BT 389.62 140.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.02 140.25 Td ($1.7 ) Tj ET Q q 0 0 0 rg BT 415.47 140.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.36 140.25 Td ( ) Tj ET Q q 0 0 0 rg BT 446.32 140.25 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 476.59 140.25 Td (char) Tj ET Q q 0 0 0 rg BT 493.62 140.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 505.01 140.25 Td (for ) Tj ET Q q 0 0 0 rg BT 518.63 140.25 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.96 128.25 Td (integration ) Tj ET Q q 0 0 0 rg BT 113.31 128.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 136.33 128.25 Td (as ) Tj ET Q q 0 0 0 rg BT 147.69 128.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 189.04 128.25 Td (above. ) Tj ET Q q 0 0 0 rg BT 218.45 128.25 Td ( ) Tj ET Q q 0 0 0 rg BT 221.25 128.25 Td (This ) Tj ET Q q 0 0 0 rg BT 242.05 128.25 Td (compares ) Tj ET Q q 0 0 0 rg BT 283.40 128.25 Td (to ) Tj ET Q q 0 0 0 rg BT 294.20 128.25 Td (net ) Tj ET Q q 0 0 0 rg BT 309.44 128.25 Td (income ) Tj ET Q q 0 0 0 rg BT 341.90 128.25 Td (available ) Tj ET Q q 0 0 0 rg BT 381.01 128.25 Td (to ) Tj ET Q q 0 0 0 rg BT 391.82 128.25 Td (common ) Tj ET Q q 0 0 0 rg BT 429.84 128.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 483.40 128.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.75 128.25 Td ($31.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.64 128.25 Td (, ) Tj ET Q q 0 0 0 rg BT 554.17 128.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.25 Td ($1.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 116.25 Td ( ) Tj ET Q q 0 0 0 rg BT 74.62 116.25 Td (per ) Tj ET Q q 0 0 0 rg BT 90.01 116.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 120.40 116.25 Td (share, ) Tj ET Q q 0 0 0 rg BT 146.62 116.25 Td (in ) Tj ET Q q 0 0 0 rg BT 157.02 116.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.85 116.25 Td (first ) Tj ET Q q 0 0 0 rg BT 190.58 116.25 Td (half ) Tj ET Q q 0 0 0 rg BT 208.75 116.25 Td (of ) Tj ET Q q 0 0 0 rg BT 219.70 116.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.70 116.25 Td (, ) Tj ET Q q 0 0 0 rg BT 244.82 116.25 Td (which ) Tj ET Q q 0 0 0 rg BT 271.88 116.25 Td (included ) Tj ET Q q 0 0 0 rg BT 308.93 116.25 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.99 116.25 Td ($8.5 ) Tj ET Q q 0 0 0 rg BT 341.11 116.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 116.25 Td ( ) Tj ET Q q 0 0 0 rg BT 372.62 116.25 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 403.55 116.25 Td (char) Tj ET Q q 0 0 0 rg BT 420.58 116.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 432.64 116.25 Td (for ) Tj ET Q q 0 0 0 rg BT 446.92 116.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 505.62 116.25 Td (repair ) Tj ET Q q 0 0 0 rg BT 531.55 116.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 554.17 116.25 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 90.33 104.25 Td (above. ) Tj ET Q q 0 0 0 rg BT 119.20 104.25 Td ( ) Tj ET Q q 0 0 0 rg BT 121.70 104.25 Td (Exclusive ) Tj ET Q q 0 0 0 rg BT 163.63 104.25 Td (of ) Tj ET Q q 0 0 0 rg BT 174.45 104.25 Td (these ) Tj ET Q q 0 0 0 rg BT 197.50 104.25 Td (acquisition-related ) Tj ET Q q 0 0 0 rg BT 274.41 104.25 Td (char) Tj ET Q q 0 0 0 rg BT 291.43 104.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 307.26 104.25 Td (in ) Tj ET Q q 0 0 0 rg BT 317.54 104.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.25 104.25 Td (first ) Tj ET Q q 0 0 0 rg BT 350.85 104.25 Td (half ) Tj ET Q q 0 0 0 rg BT 368.90 104.25 Td (of ) Tj ET Q q 0 0 0 rg BT 379.72 104.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.72 104.25 Td ( ) Tj ET Q q 0 0 0 rg BT 402.22 104.25 Td (and ) Tj ET Q q 0 0 0 rg BT 419.16 104.25 Td (the ) Tj ET Q q 0 0 0 rg BT 433.87 104.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 492.44 104.25 Td (char) Tj ET Q q 0 0 0 rg BT 509.47 104.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 521.41 104.25 Td (in ) Tj ET Q q 0 0 0 rg BT 531.68 104.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.39 104.25 Td (first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.25 Td (half ) Tj ET Q q 0 0 0 rg BT 67.49 92.25 Td (of ) Tj ET Q q 0 0 0 rg BT 78.27 92.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.27 92.25 Td (, ) Tj ET Q q 0 0 0 rg BT 103.22 92.25 Td (our ) Tj ET Q q 0 0 0 rg BT 119.00 92.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 154.77 92.25 Td (net ) Tj ET Q q 0 0 0 rg BT 169.44 92.25 Td (income ) Tj ET Q q 0 0 0 rg BT 201.32 92.25 Td (available ) Tj ET Q q 0 0 0 rg BT 239.85 92.25 Td (to ) Tj ET Q q 0 0 0 rg BT 250.08 92.25 Td (common ) Tj ET Q q 0 0 0 rg BT 287.52 92.25 Td (shareholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.51 92.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.26 92.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.71 92.25 Td ($13.2 ) Tj ET Q q 0 0 0 rg BT 405.66 92.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.55 92.25 Td ( ) Tj ET Q q 0 0 0 rg BT 437.00 92.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.22 92.25 Td ($50.1 ) Tj ET Q q 0 0 0 rg BT 472.17 92.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.06 92.25 Td ( ) Tj ET Q q 0 0 0 rg BT 503.51 92.25 Td (in ) Tj ET Q q 0 0 0 rg BT 513.74 92.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.40 92.25 Td (first ) Tj ET Q q 0 0 0 rg BT 546.96 92.25 Td (half ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 80.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.33 80.25 Td ( ) Tj ET Q q 0 0 0 rg BT 82.83 80.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 124.75 80.25 Td (to ) Tj ET Q q 0 0 0 rg BT 135.03 80.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 156.97 80.25 Td (year) Tj ET Q q 0 0 0 rg BT 173.63 80.25 Td (. ) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (During ) Tj ET Q q 0 0 0 rg BT 79.43 740.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.25 740.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 123.16 740.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 148.64 740.10 Td (June ) Tj ET Q q 0 0 0 rg BT 168.56 740.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 182.66 740.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.66 740.10 Td (, ) Tj ET Q q 0 0 0 rg BT 206.76 740.10 Td (we ) Tj ET Q q 0 0 0 rg BT 220.02 740.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 256.60 740.10 Td (record ) Tj ET Q q 0 0 0 rg BT 283.73 740.10 Td (second ) Tj ET Q q 0 0 0 rg BT 313.10 740.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 343.02 740.10 Td (total ) Tj ET Q q 0 0 0 rg BT 362.39 740.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 395.63 740.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.56 740.10 Td ($558.1 ) Tj ET Q q 0 0 0 rg BT 434.66 740.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.55 740.10 Td (, ) Tj ET Q q 0 0 0 rg BT 467.65 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 477.58 740.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.62 740.10 Td ($545.0million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (was ) Tj ET Q q 0 0 0 rg BT 66.71 728.10 Td (from ) Tj ET Q q 0 0 0 rg BT 87.81 728.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 115.58 728.10 Td (delivered, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.95 728.10 Td ($1.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.84 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 207.50 728.10 Td (was ) Tj ET Q q 0 0 0 rg BT 224.71 728.10 Td (from ) Tj ET Q q 0 0 0 rg BT 245.81 728.10 Td (land ) Tj ET Q q 0 0 0 rg BT 264.69 728.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 285.79 728.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.89 728.10 Td ($1) Tj ET Q q 0 0 0 rg BT 311.52 728.10 Td (1.9 ) Tj ET Q q 0 0 0 rg BT 325.68 728.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.57 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 356.24 728.10 Td (was ) Tj ET Q q 0 0 0 rg BT 373.45 728.10 Td (from ) Tj ET Q q 0 0 0 rg BT 394.55 728.10 Td (our ) Tj ET Q q 0 0 0 rg BT 409.54 728.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 446.18 728.10 Td (services ) Tj ET Q q 0 0 0 rg BT 480.05 728.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 525.87 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 527.53 728.10 Td (Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.73 716.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 100.63 716.10 Td (delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.62 716.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.37 716.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.17 716.10 Td (23%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.50 716.10 Td ( ) Tj ET Q q 0 0 0 rg BT 202.29 716.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.85 716.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 241.34 716.10 Td (second ) Tj ET Q q 0 0 0 rg BT 271.90 716.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.21 716.10 Td ( ) Tj ET Q q 0 0 0 rg BT 303.00 716.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 345.22 716.10 Td (to ) Tj ET Q q 0 0 0 rg BT 355.79 716.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.79 716.10 Td (same ) Tj ET Q q 0 0 0 rg BT 394.13 716.10 Td (period ) Tj ET Q q 0 0 0 rg BT 422.47 716.10 Td (in ) Tj ET Q q 0 0 0 rg BT 433.04 716.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.04 716.10 Td ( ) Tj ET Q q 0 0 0 rg BT 455.83 716.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 484.17 716.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 524.17 716.10 Td (by ) Tj ET Q q 0 0 0 rg BT 536.96 716.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.19 716.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 704.10 Td ( ) Tj ET Q q 0 0 0 rg BT 84.83 704.10 Td (in ) Tj ET Q q 0 0 0 rg BT 95.18 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 109.97 704.10 Td (number ) Tj ET Q q 0 0 0 rg BT 143.09 704.10 Td (of ) Tj ET Q q 0 0 0 rg BT 153.99 704.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 182.67 704.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 222.45 704.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.78 704.10 Td (198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.78 704.10 Td ( ) Tj ET Q q 0 0 0 rg BT 243.35 704.10 Td (units\) ) Tj ET Q q 0 0 0 rg BT 268.70 704.10 Td (and ) Tj ET Q q 0 0 0 rg BT 285.72 704.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.73 704.10 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.06 704.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.63 704.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.38 704.10 Td ( ) Tj ET Q q 0 0 0 rg BT 343.96 704.10 Td (in ) Tj ET Q q 0 0 0 rg BT 354.31 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.10 704.10 Td (average ) Tj ET Q q 0 0 0 rg BT 402.76 704.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 424.77 704.10 Td (price ) Tj ET Q q 0 0 0 rg BT 447.33 704.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.23 704.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 486.91 704.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 526.69 704.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.02 704.10 Td ($21,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (per ) Tj ET Q q 0 0 0 rg BT 64.28 692.10 Td (home ) Tj ET Q q 0 0 0 rg BT 88.50 692.10 Td (delivered\). ) Tj ET Q q 0 0 0 rg BT 133.54 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 135.54 692.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 172.54 692.10 Td (from ) Tj ET Q q 0 0 0 rg BT 193.98 692.10 Td (land ) Tj ET Q q 0 0 0 rg BT 213.21 692.10 Td (sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.65 692.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.07 692.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.07 692.10 Td ($0.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.96 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 326.97 692.10 Td (from ) Tj ET Q q 0 0 0 rg BT 348.42 692.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.64 692.10 Td (second ) Tj ET Q q 0 0 0 rg BT 392.42 692.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 422.74 692.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.07 692.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.07 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 455.08 692.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 494.30 692.10 Td (due ) Tj ET Q q 0 0 0 rg BT 510.75 692.10 Td (to ) Tj ET Q q 0 0 0 rg BT 520.53 692.10 Td (fewer ) Tj ET Q q 0 0 0 rg BT 545.30 692.10 Td (land ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 71.55 680.10 Td (in ) Tj ET Q q 0 0 0 rg BT 81.94 680.10 Td (our ) Tj ET Q q 0 0 0 rg BT 97.88 680.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 152.71 680.10 Td (region ) Tj ET Q q 0 0 0 rg BT 180.87 680.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.26 680.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 219.56 680.10 Td (second ) Tj ET Q q 0 0 0 rg BT 249.94 680.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.26 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 280.87 680.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 322.91 680.10 Td (to ) Tj ET Q q 0 0 0 rg BT 333.30 680.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.13 680.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 370.18 680.10 Td (year) Tj ET Q q 0 0 0 rg BT 386.83 680.10 Td (. ) Tj ET Q q 0 0 0 rg BT 391.95 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 394.56 680.10 Td (During ) Tj ET Q q 0 0 0 rg BT 425.50 680.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.33 680.10 Td (first ) Tj ET Q q 0 0 0 rg BT 459.05 680.10 Td (half ) Tj ET Q q 0 0 0 rg BT 477.21 680.10 Td (of ) Tj ET Q q 0 0 0 rg BT 488.15 680.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.15 680.10 Td (, ) Tj ET Q q 0 0 0 rg BT 513.26 680.10 Td (we ) Tj ET Q q 0 0 0 rg BT 527.54 680.10 Td (recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (record ) Tj ET Q q 0 0 0 rg BT 77.57 668.10 Td (first ) Tj ET Q q 0 0 0 rg BT 96.22 668.10 Td (half ) Tj ET Q q 0 0 0 rg BT 114.30 668.10 Td (total ) Tj ET Q q 0 0 0 rg BT 134.61 668.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 168.79 668.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.66 668.10 Td ($996.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.55 668.10 Td (, ) Tj ET Q q 0 0 0 rg BT 243.59 668.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.46 668.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.43 668.10 Td ($963.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.32 668.10 Td ( ) Tj ET Q q 0 0 0 rg BT 342.86 668.10 Td (was ) Tj ET Q q 0 0 0 rg BT 360.95 668.10 Td (from ) Tj ET Q q 0 0 0 rg BT 382.92 668.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 411.57 668.10 Td (delivered, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.81 668.10 Td ($5.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.70 668.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.23 668.10 Td (was ) Tj ET Q q 0 0 0 rg BT 523.32 668.10 Td (from ) Tj ET Q q 0 0 0 rg BT 545.30 668.10 Td (land ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 71.03 656.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.57 656.10 Td ($26.9 ) Tj ET Q q 0 0 0 rg BT 112.17 656.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.06 656.10 Td ( ) Tj ET Q q 0 0 0 rg BT 143.15 656.10 Td (was ) Tj ET Q q 0 0 0 rg BT 160.80 656.10 Td (from ) Tj ET Q q 0 0 0 rg BT 182.34 656.10 Td (our ) Tj ET Q q 0 0 0 rg BT 197.76 656.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 234.84 656.10 Td (services ) Tj ET Q q 0 0 0 rg BT 269.14 656.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 315.39 656.10 Td ( ) Tj ET Q q 0 0 0 rg BT 317.49 656.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 354.57 656.10 Td (from ) Tj ET Q q 0 0 0 rg BT 376.11 656.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 404.31 656.10 Td (delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.61 656.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.36 656.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.46 656.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.79 656.10 Td ( ) Tj ET Q q 0 0 0 rg BT 503.89 656.10 Td (during ) Tj ET Q q 0 0 0 rg BT 532.09 656.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.40 656.10 Td (first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (half ) Tj ET Q q 0 0 0 rg BT 68.10 644.10 Td (of ) Tj ET Q q 0 0 0 rg BT 79.47 644.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.47 644.10 Td ( ) Tj ET Q q 0 0 0 rg BT 102.52 644.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 144.99 644.10 Td (to ) Tj ET Q q 0 0 0 rg BT 155.82 644.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.09 644.10 Td (same ) Tj ET Q q 0 0 0 rg BT 194.68 644.10 Td (period ) Tj ET Q q 0 0 0 rg BT 223.28 644.10 Td (in ) Tj ET Q q 0 0 0 rg BT 234.10 644.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 644.10 Td ( ) Tj ET Q q 0 0 0 rg BT 257.15 644.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 285.75 644.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 326.01 644.10 Td (by ) Tj ET Q q 0 0 0 rg BT 339.06 644.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.54 644.10 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.87 644.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.92 644.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.67 644.10 Td ( ) Tj ET Q q 0 0 0 rg BT 403.72 644.10 Td (in ) Tj ET Q q 0 0 0 rg BT 414.55 644.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.81 644.10 Td (number ) Tj ET Q q 0 0 0 rg BT 463.41 644.10 Td (of ) Tj ET Q q 0 0 0 rg BT 474.79 644.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 503.94 644.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 544.20 644.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.53 644.10 Td (282) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (units\) ) Tj ET Q q 0 0 0 rg BT 75.05 632.10 Td (and ) Tj ET Q q 0 0 0 rg BT 92.26 632.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.47 632.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.80 632.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.57 632.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.32 632.10 Td ( ) Tj ET Q q 0 0 0 rg BT 151.09 632.10 Td (in ) Tj ET Q q 0 0 0 rg BT 161.64 632.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.63 632.10 Td (average ) Tj ET Q q 0 0 0 rg BT 210.49 632.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 232.70 632.10 Td (price ) Tj ET Q q 0 0 0 rg BT 255.45 632.10 Td (of ) Tj ET Q q 0 0 0 rg BT 266.55 632.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 295.43 632.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 335.41 632.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.74 632.10 Td ($12,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.24 632.10 Td ( ) Tj ET Q q 0 0 0 rg BT 374.01 632.10 Td (per ) Tj ET Q q 0 0 0 rg BT 389.55 632.10 Td (home ) Tj ET Q q 0 0 0 rg BT 414.53 632.10 Td (delivered\). ) Tj ET Q q 0 0 0 rg BT 460.34 632.10 Td ( ) Tj ET Q q 0 0 0 rg BT 463.11 632.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 500.86 632.10 Td (from ) Tj ET Q q 0 0 0 rg BT 523.07 632.10 Td (land ) Tj ET Q q 0 0 0 rg BT 543.06 632.10 Td (sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.91 620.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.34 620.10 Td ($1.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.23 620.10 Td ( ) Tj ET Q q 0 0 0 rg BT 142.66 620.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.20 620.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 199.32 620.10 Td (first ) Tj ET Q q 0 0 0 rg BT 217.86 620.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.41 620.10 Td ( ) Tj ET Q q 0 0 0 rg BT 235.84 620.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 275.48 620.10 Td (due ) Tj ET Q q 0 0 0 rg BT 292.35 620.10 Td (to ) Tj ET Q q 0 0 0 rg BT 302.55 620.10 Td (fewer ) Tj ET Q q 0 0 0 rg BT 327.74 620.10 Td (land ) Tj ET Q q 0 0 0 rg BT 347.39 620.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 369.26 620.10 Td (in ) Tj ET Q q 0 0 0 rg BT 379.46 620.10 Td (our ) Tj ET Q q 0 0 0 rg BT 395.22 620.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 433.76 620.10 Td (region ) Tj ET Q q 0 0 0 rg BT 461.74 620.10 Td (in ) Tj ET Q q 0 0 0 rg BT 471.94 620.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.59 620.10 Td (current ) Tj ET Q q 0 0 0 rg BT 517.33 620.10 Td (year ) Tj ET Q q 0 0 0 rg BT 536.97 620.10 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 91.17 608.10 Td (to ) Tj ET Q q 0 0 0 rg BT 101.20 608.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.66 608.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 137.35 608.10 Td (year) Tj ET Q q 0 0 0 rg BT 154.00 608.10 Td (. ) Tj ET Q q 0 0 0 rg BT 158.75 608.10 Td ( ) Tj ET Q q 0 0 0 rg BT 161.00 608.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 198.23 608.10 Td (from ) Tj ET Q q 0 0 0 rg BT 219.92 608.10 Td (our ) Tj ET Q q 0 0 0 rg BT 235.49 608.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 272.72 608.10 Td (services ) Tj ET Q q 0 0 0 rg BT 307.18 608.10 Td (segment ) Tj ET Q q 0 0 0 rg BT 342.75 608.10 Td (remained ) Tj ET Q q 0 0 0 rg BT 382.20 608.10 Td (flat ) Tj ET Q q 0 0 0 rg BT 397.77 608.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.24 608.10 Td ($1) Tj ET Q q 0 0 0 rg BT 416.87 608.10 Td (1.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.76 608.10 Td ( ) Tj ET Q q 0 0 0 rg BT 463.00 608.10 Td (in ) Tj ET Q q 0 0 0 rg BT 473.03 608.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 608.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 518.06 608.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 544.18 608.10 Td (June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 63.67 596.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.67 596.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.33 596.10 Td (\(impacted ) Tj ET Q q 0 0 0 rg BT 126.98 596.10 Td (by ) Tj ET Q q 0 0 0 rg BT 138.65 596.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 163.08 596.10 Td (mar) Tj ET Q q 0 0 0 rg BT 178.45 596.10 Td (gins ) Tj ET Q q 0 0 0 rg BT 196.78 596.10 Td (on ) Tj ET Q q 0 0 0 rg BT 208.45 596.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 231.23 596.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 249.56 596.10 Td (as ) Tj ET Q q 0 0 0 rg BT 259.56 596.10 Td (a ) Tj ET Q q 0 0 0 rg BT 265.66 596.10 Td (result ) Tj ET Q q 0 0 0 rg BT 289.55 596.10 Td (of ) Tj ET Q q 0 0 0 rg BT 299.54 596.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 338.96 596.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 387.84 596.10 Td (pressure\), ) Tj ET Q q 0 0 0 rg BT 428.65 596.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.76 596.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.51 596.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.18 596.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.51 596.10 Td ( ) Tj ET Q q 0 0 0 rg BT 499.18 596.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.62 596.10 Td ($26.9million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.42 584.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.78 584.10 Td (six ) Tj ET Q q 0 0 0 rg BT 87.59 584.10 Td (months ) Tj ET Q q 0 0 0 rg BT 119.18 584.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 145.20 584.10 Td (June ) Tj ET Q q 0 0 0 rg BT 165.68 584.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 180.32 584.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.32 584.10 Td ( ) Tj ET Q q 0 0 0 rg BT 202.46 584.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 244.03 584.10 Td (to ) Tj ET Q q 0 0 0 rg BT 253.95 584.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.31 584.10 Td (same ) Tj ET Q q 0 0 0 rg BT 291.00 584.10 Td (period ) Tj ET Q q 0 0 0 rg BT 318.69 584.10 Td (in ) Tj ET Q q 0 0 0 rg BT 328.61 584.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.61 584.10 Td (. ) Tj ET Q q 0 0 0 rg BT 353.25 584.10 Td ( ) Tj ET Q q 0 0 0 rg BT 355.24 584.10 Td (The ) Tj ET Q q 0 0 0 rg BT 372.93 584.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 407.82 584.10 Td (for ) Tj ET Q q 0 0 0 rg BT 421.63 584.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.99 584.10 Td (six ) Tj ET Q q 0 0 0 rg BT 449.80 584.10 Td (months ) Tj ET Q q 0 0 0 rg BT 481.39 584.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 507.41 584.10 Td (June ) Tj ET Q q 0 0 0 rg BT 527.88 584.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 542.52 584.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (was ) Tj ET Q q 0 0 0 rg BT 67.49 572.10 Td (a ) Tj ET Q q 0 0 0 rg BT 74.37 572.10 Td (result ) Tj ET Q q 0 0 0 rg BT 99.02 572.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.79 572.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.67 572.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.42 572.10 Td ( ) Tj ET Q q 0 0 0 rg BT 156.86 572.10 Td (in ) Tj ET Q q 0 0 0 rg BT 167.08 572.10 Td (the ) Tj ET Q q 0 0 0 rg BT 181.74 572.10 Td (number ) Tj ET Q q 0 0 0 rg BT 214.72 572.10 Td (of ) Tj ET Q q 0 0 0 rg BT 225.49 572.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 245.15 572.10 Td (originations, ) Tj ET Q q 0 0 0 rg BT 297.86 572.10 Td (an ) Tj ET Q q 0 0 0 rg BT 309.74 572.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 344.93 572.10 Td (in ) Tj ET Q q 0 0 0 rg BT 355.15 572.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.80 572.10 Td (average ) Tj ET Q q 0 0 0 rg BT 403.33 572.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 422.98 572.10 Td (amount, ) Tj ET Q q 0 0 0 rg BT 457.92 572.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.57 572.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 490.56 572.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.33 572.10 Td (a ) Tj ET Q q 0 0 0 rg BT 508.20 572.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 539.53 572.10 Td (of ) Tj ET Q q 0 0 0 rg BT 550.30 572.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (servicing ) Tj ET Q q 0 0 0 rg BT 88.68 560.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 126.19 560.10 Td (during ) Tj ET Q q 0 0 0 rg BT 154.82 560.10 Td (the ) Tj ET Q q 0 0 0 rg BT 169.56 560.10 Td (first ) Tj ET Q q 0 0 0 rg BT 188.19 560.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 219.03 560.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.88 560.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 254.90 560.10 Td (and ) Tj ET Q q 0 0 0 rg BT 271.86 560.10 Td (a ) Tj ET Q q 0 0 0 rg BT 278.82 560.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 306.88 560.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 339.40 560.10 Td (of ) Tj ET Q q 0 0 0 rg BT 350.25 560.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 373.88 560.10 Td (sold, ) Tj ET Q q 0 0 0 rg BT 395.57 560.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 431.41 560.10 Td (of) Tj ET Q q 0 0 0 rg BT 439.56 560.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 456.52 560.10 Td (by ) Tj ET Q q 0 0 0 rg BT 469.04 560.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 494.33 560.10 Td (mar) Tj ET Q q 0 0 0 rg BT 509.70 560.10 Td (gins ) Tj ET Q q 0 0 0 rg BT 528.89 560.10 Td (on ) Tj ET Q q 0 0 0 rg BT 541.41 560.10 Td (loans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 68.67 548.10 Td (during ) Tj ET Q q 0 0 0 rg BT 97.28 548.10 Td (the ) Tj ET Q q 0 0 0 rg BT 112.00 548.10 Td (period ) Tj ET Q q 0 0 0 rg BT 140.04 548.10 Td (than ) Tj ET Q q 0 0 0 rg BT 159.76 548.10 Td (we ) Tj ET Q q 0 0 0 rg BT 173.92 548.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 224.72 548.10 Td (in ) Tj ET Q q 0 0 0 rg BT 235.00 548.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 256.94 548.10 Td (year) Tj ET Q q 0 0 0 rg BT 274.51 548.10 Td () Tj ET Q q 0 0 0 rg BT 277.29 548.10 Td (s ) Tj ET Q q 0 0 0 rg BT 283.68 548.10 Td (first ) Tj ET Q q 0 0 0 rg BT 302.29 548.10 Td (half.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 526.10 Td (T) Tj ET Q q 0 0 0 rg BT 54.91 526.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 71.78 526.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 94.78 526.10 Td (mar) Tj ET Q q 0 0 0 rg BT 110.14 526.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 124.80 526.10 Td (\(total ) Tj ET Q q 0 0 0 rg BT 147.78 526.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 181.31 526.10 Td (less ) Tj ET Q q 0 0 0 rg BT 198.19 526.10 Td (total ) Tj ET Q q 0 0 0 rg BT 217.84 526.10 Td (land ) Tj ET Q q 0 0 0 rg BT 236.93 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 253.25 526.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 286.80 526.10 Td (costs\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.01 526.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.76 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.64 526.10 Td ($19.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.53 526.10 Td ( ) Tj ET Q q 0 0 0 rg BT 407.41 526.10 Td (in ) Tj ET Q q 0 0 0 rg BT 417.07 526.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.17 526.10 Td (second ) Tj ET Q q 0 0 0 rg BT 460.81 526.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 491.01 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.22 526.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.22 526.10 Td ( ) Tj ET Q q 0 0 0 rg BT 523.09 526.10 Td (compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.56 514.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.06 514.10 Td (second ) Tj ET Q q 0 0 0 rg BT 104.11 514.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 134.71 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 145.32 514.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.32 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 167.60 514.10 Td (as ) Tj ET Q q 0 0 0 rg BT 178.21 514.10 Td (a ) Tj ET Q q 0 0 0 rg BT 184.93 514.10 Td (result ) Tj ET Q q 0 0 0 rg BT 209.43 514.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.04 514.10 Td (improvement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.36 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 275.64 514.10 Td (in ) Tj ET Q q 0 0 0 rg BT 285.70 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 300.20 514.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 323.60 514.10 Td (mar) Tj ET Q q 0 0 0 rg BT 338.96 514.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 354.02 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 364.64 514.10 Td (our ) Tj ET Q q 0 0 0 rg BT 380.25 514.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 438.08 514.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 484.52 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 486.63 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 495.67 514.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 508.51 514.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 539.11 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.17 514.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 502.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 107.78 502.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 131.63 502.10 Td (mar) Tj ET Q q 0 0 0 rg BT 147.00 502.10 Td (gin, ) Tj ET Q q 0 0 0 rg BT 165.01 502.10 Td (our ) Tj ET Q q 0 0 0 rg BT 181.07 502.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 204.91 502.10 Td (mar) Tj ET Q q 0 0 0 rg BT 220.28 502.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 235.79 502.10 Td (on ) Tj ET Q q 0 0 0 rg BT 248.52 502.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 277.36 502.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 317.30 502.10 Td (\(housing ) Tj ET Q q 0 0 0 rg BT 355.03 502.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 378.87 502.10 Td (mar) Tj ET Q q 0 0 0 rg BT 394.24 502.10 Td (gin\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.08 502.10 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.40 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.14 502.10 Td ($19.5 ) Tj ET Q q 0 0 0 rg BT 479.37 502.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.26 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 510.99 502.10 Td (as ) Tj ET Q q 0 0 0 rg BT 522.05 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 529.22 502.10 Td (result ) Tj ET Q q 0 0 0 rg BT 554.17 502.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 490.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.58 490.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.91 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.78 490.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.53 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 118.40 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.05 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.13 490.10 Td (number ) Tj ET Q q 0 0 0 rg BT 174.54 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 184.74 490.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 212.71 490.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 251.78 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 268.09 490.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.17 490.10 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.50 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.37 490.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.12 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 331.99 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 341.63 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.72 490.10 Td (average ) Tj ET Q q 0 0 0 rg BT 388.67 490.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 409.97 490.10 Td (price ) Tj ET Q q 0 0 0 rg BT 431.83 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 442.02 490.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 470.00 490.10 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 511.57 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 513.43 490.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 530.85 490.10 Td (housing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 478.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 73.30 478.10 Td (mar) Tj ET Q q 0 0 0 rg BT 88.67 478.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 104.14 478.10 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.13 478.10 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.45 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.14 478.10 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.14 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 203.83 478.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 226.52 478.10 Td (points ) Tj ET Q q 0 0 0 rg BT 253.66 478.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.79 478.10 Td (17.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.62 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 304.31 478.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.77 478.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 336.90 478.10 Td (year's ) Tj ET Q q 0 0 0 rg BT 362.49 478.10 Td (second ) Tj ET Q q 0 0 0 rg BT 392.95 478.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.26 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 423.95 478.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.42 478.10 Td (17.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.25 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 462.94 478.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.41 478.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 501.79 478.10 Td (second ) Tj ET Q q 0 0 0 rg BT 532.25 478.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 478.10 Td (. ) Tj ET Q q 0 0 0 rg BT 565.01 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 466.10 Td (Exclusive ) Tj ET Q q 0 0 0 rg BT 91.00 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 101.40 466.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.68 466.10 Td ($3.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.58 466.10 Td ( ) Tj ET Q q 0 0 0 rg BT 166.64 466.10 Td (char) Tj ET Q q 0 0 0 rg BT 183.67 466.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 195.18 466.10 Td (for ) Tj ET Q q 0 0 0 rg BT 208.90 466.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 246.51 466.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 292.45 466.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 342.29 466.10 Td (taken ) Tj ET Q q 0 0 0 rg BT 366.01 466.10 Td (in ) Tj ET Q q 0 0 0 rg BT 375.86 466.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.14 466.10 Td (second ) Tj ET Q q 0 0 0 rg BT 419.98 466.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 450.36 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 460.76 466.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.76 466.10 Td ( ) Tj ET Q q 0 0 0 rg BT 482.83 466.10 Td (and ) Tj ET Q q 0 0 0 rg BT 499.34 466.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.62 466.10 Td ($8.5million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 454.10 Td (char) Tj ET Q q 0 0 0 rg BT 66.53 454.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 78.12 454.10 Td (for ) Tj ET Q q 0 0 0 rg BT 91.94 454.10 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 150.17 454.10 Td (repair ) Tj ET Q q 0 0 0 rg BT 175.64 454.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 197.80 454.10 Td (taken ) Tj ET Q q 0 0 0 rg BT 221.61 454.10 Td (during ) Tj ET Q q 0 0 0 rg BT 249.87 454.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.25 454.10 Td (second ) Tj ET Q q 0 0 0 rg BT 294.17 454.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 324.64 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 335.13 454.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.13 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 357.28 454.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 397.77 454.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 426.30 454.10 Td (our ) Tj ET Q q 0 0 0 rg BT 441.79 454.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 477.27 454.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 511.09 454.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 534.36 454.10 Td (mar) Tj ET Q q 0 0 0 rg BT 549.73 454.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 442.10 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.24 442.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.11 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.54 442.10 Td (1) Tj ET Q q 0 0 0 rg BT 136.17 442.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.17 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.61 442.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 171.04 442.10 Td (points ) Tj ET Q q 0 0 0 rg BT 197.93 442.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.80 442.10 Td (19.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.63 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 248.07 442.10 Td (in ) Tj ET Q q 0 0 0 rg BT 258.28 442.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 280.16 442.10 Td (year) Tj ET Q q 0 0 0 rg BT 297.73 442.10 Td () Tj ET Q q 0 0 0 rg BT 300.51 442.10 Td (s ) Tj ET Q q 0 0 0 rg BT 306.84 442.10 Td (second ) Tj ET Q q 0 0 0 rg BT 337.04 442.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 367.79 442.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.01 442.10 Td (18.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.84 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 406.27 442.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.49 442.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 444.62 442.10 Td (second ) Tj ET Q q 0 0 0 rg BT 474.82 442.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.74 442.10 Td (, ) Tj ET Q q 0 0 0 rg BT 507.67 442.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 547.32 442.10 Td (as ) Tj ET Q q 0 0 0 rg BT 558.08 442.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 430.10 Td (result ) Tj ET Q q 0 0 0 rg BT 73.81 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 84.23 430.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 111.87 430.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 163.40 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 179.93 430.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 192.58 430.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 214.67 430.10 Td (when ) Tj ET Q q 0 0 0 rg BT 238.42 430.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 279.94 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 289.81 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 304.12 430.10 Td (same ) Tj ET Q q 0 0 0 rg BT 326.76 430.10 Td (period ) Tj ET Q q 0 0 0 rg BT 354.40 430.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.27 430.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.27 430.10 Td ( ) Tj ET Q q 0 0 0 rg BT 386.36 430.10 Td (as ) Tj ET Q q 0 0 0 rg BT 396.78 430.10 Td (well ) Tj ET Q q 0 0 0 rg BT 416.09 430.10 Td (as ) Tj ET Q q 0 0 0 rg BT 426.51 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.82 430.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 458.47 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 468.89 430.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 497.09 430.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 536.39 430.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.18 418.10 Td (period ) Tj ET Q q 0 0 0 rg BT 92.20 418.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 134.09 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 144.33 418.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 166.24 418.10 Td (year) Tj ET Q q 0 0 0 rg BT 182.90 418.10 Td (. ) Tj ET Q q 0 0 0 rg BT 187.86 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 190.33 418.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 208.35 418.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 231.93 418.10 Td (mar) Tj ET Q q 0 0 0 rg BT 247.30 418.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 262.54 418.10 Td (on ) Tj ET Q q 0 0 0 rg BT 275.01 418.10 Td (land ) Tj ET Q q 0 0 0 rg BT 294.69 418.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 316.60 418.10 Td (\(land ) Tj ET Q q 0 0 0 rg BT 339.61 418.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 357.63 418.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 381.21 418.10 Td (mar) Tj ET Q q 0 0 0 rg BT 396.57 418.10 Td (gin\) ) Tj ET Q q 0 0 0 rg BT 415.15 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 432.06 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.74 418.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 470.32 418.10 Td (mar) Tj ET Q q 0 0 0 rg BT 485.69 418.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 500.93 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.73 418.10 Td (our ) Tj ET Q q 0 0 0 rg BT 527.53 418.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 406.10 Td (services ) Tj ET Q q 0 0 0 rg BT 84.12 406.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 128.18 406.10 Td (both ) Tj ET Q q 0 0 0 rg BT 148.37 406.10 Td (remained ) Tj ET Q q 0 0 0 rg BT 187.98 406.10 Td (flat ) Tj ET Q q 0 0 0 rg BT 203.72 406.10 Td (in ) Tj ET Q q 0 0 0 rg BT 213.90 406.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.53 406.10 Td (second ) Tj ET Q q 0 0 0 rg BT 258.71 406.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 289.43 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 300.17 406.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.17 406.10 Td ( ) Tj ET Q q 0 0 0 rg BT 322.58 406.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 364.42 406.10 Td (to ) Tj ET Q q 0 0 0 rg BT 374.60 406.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.23 406.10 Td (second ) Tj ET Q q 0 0 0 rg BT 419.41 406.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 450.13 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 460.87 406.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.87 406.10 Td (. ) Tj ET Q q 0 0 0 rg BT 485.78 406.10 Td ( ) Tj ET Q q 0 0 0 rg BT 488.02 406.10 Td (T) Tj ET Q q 0 0 0 rg BT 493.43 406.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 510.83 406.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 534.36 406.10 Td (mar) Tj ET Q q 0 0 0 rg BT 549.72 406.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 394.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.25 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.01 394.10 Td ($22.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.90 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.66 394.10 Td (for ) Tj ET Q q 0 0 0 rg BT 161.07 394.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.04 394.10 Td (six ) Tj ET Q q 0 0 0 rg BT 190.47 394.10 Td (months ) Tj ET Q q 0 0 0 rg BT 222.67 394.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 249.31 394.10 Td (June ) Tj ET Q q 0 0 0 rg BT 270.39 394.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 285.65 394.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.65 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 308.40 394.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 350.58 394.10 Td (to ) Tj ET Q q 0 0 0 rg BT 361.11 394.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.09 394.10 Td (first ) Tj ET Q q 0 0 0 rg BT 394.95 394.10 Td (half ) Tj ET Q q 0 0 0 rg BT 413.25 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 424.34 394.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.34 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 447.09 394.10 Td (as ) Tj ET Q q 0 0 0 rg BT 458.18 394.10 Td (a ) Tj ET Q q 0 0 0 rg BT 465.37 394.10 Td (result ) Tj ET Q q 0 0 0 rg BT 490.34 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.43 394.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.62 394.10 Td ($21.3million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 382.10 Td (improvement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.82 382.10 Td ( ) Tj ET Q q 0 0 0 rg BT 106.13 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 117.22 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.74 382.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 157.17 382.10 Td (mar) Tj ET Q q 0 0 0 rg BT 172.53 382.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 188.62 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 200.26 382.10 Td (our ) Tj ET Q q 0 0 0 rg BT 216.90 382.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 275.76 382.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 320.73 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 338.47 382.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.22 382.10 Td ($0.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.11 382.10 Td ( ) Tj ET Q q 0 0 0 rg BT 398.42 382.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 455.05 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 466.14 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.67 382.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 506.09 382.10 Td (mar) Tj ET Q q 0 0 0 rg BT 521.46 382.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 537.54 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.18 382.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 370.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.85 370.10 Td (services ) Tj ET Q q 0 0 0 rg BT 121.43 370.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 167.95 370.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.15 370.10 Td (W) Tj ET Q q 0 0 0 rg BT 179.19 370.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 192.11 370.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 222.80 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 232.95 370.10 Td (our ) Tj ET Q q 0 0 0 rg BT 248.65 370.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 306.57 370.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 330.05 370.10 Td (mar) Tj ET Q q 0 0 0 rg BT 345.42 370.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 360.57 370.10 Td (for ) Tj ET Q q 0 0 0 rg BT 374.60 370.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.18 370.10 Td (first ) Tj ET Q q 0 0 0 rg BT 407.66 370.10 Td (half ) Tj ET Q q 0 0 0 rg BT 425.58 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 436.28 370.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.28 370.10 Td (, ) Tj ET Q q 0 0 0 rg BT 461.15 370.10 Td (our ) Tj ET Q q 0 0 0 rg BT 476.85 370.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 510.88 370.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 534.37 370.10 Td (mar) Tj ET Q q 0 0 0 rg BT 549.73 370.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 358.10 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.83 358.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.04 358.10 Td ($21.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.93 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.15 358.10 Td (as ) Tj ET Q q 0 0 0 rg BT 156.69 358.10 Td (a ) Tj ET Q q 0 0 0 rg BT 163.35 358.10 Td (result ) Tj ET Q q 0 0 0 rg BT 187.78 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 198.33 358.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.76 358.10 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.09 358.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.31 358.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.06 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 268.28 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 278.27 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.70 358.10 Td (number ) Tj ET Q q 0 0 0 rg BT 325.46 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 336.01 358.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 364.33 358.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 403.75 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.41 358.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.84 358.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.17 358.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.39 358.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.14 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 485.36 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 495.35 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 509.78 358.10 Td (average ) Tj ET Q q 0 0 0 rg BT 543.08 358.10 Td (sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 346.10 Td (price ) Tj ET Q q 0 0 0 rg BT 72.11 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 83.07 346.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 111.80 346.10 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 154.13 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 156.76 346.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 174.93 346.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 209.23 346.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 232.97 346.10 Td (mar) Tj ET Q q 0 0 0 rg BT 248.33 346.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 263.74 346.10 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.67 346.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.54 346.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.16 346.10 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.16 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 358.79 346.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 381.42 346.10 Td (points ) Tj ET Q q 0 0 0 rg BT 408.49 346.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.55 346.10 Td (18.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.38 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 459.01 346.10 Td (in ) Tj ET Q q 0 0 0 rg BT 469.42 346.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.26 346.10 Td (first ) Tj ET Q q 0 0 0 rg BT 502.99 346.10 Td (half ) Tj ET Q q 0 0 0 rg BT 521.17 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 532.12 346.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.12 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.75 346.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 334.10 Td (17.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.33 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 78.05 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 88.55 334.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.49 334.10 Td (first ) Tj ET Q q 0 0 0 rg BT 122.32 334.10 Td (half ) Tj ET Q q 0 0 0 rg BT 140.59 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 151.64 334.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.64 334.10 Td (. ) Tj ET Q q 0 0 0 rg BT 176.86 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 179.58 334.10 Td (Exclusive ) Tj ET Q q 0 0 0 rg BT 221.73 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 232.79 334.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.72 334.10 Td ($3.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.62 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.34 334.10 Td (char) Tj ET Q q 0 0 0 rg BT 316.36 334.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 328.52 334.10 Td (for ) Tj ET Q q 0 0 0 rg BT 342.90 334.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 381.16 334.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 427.76 334.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 478.25 334.10 Td (taken ) Tj ET Q q 0 0 0 rg BT 502.63 334.10 Td (during ) Tj ET Q q 0 0 0 rg BT 531.46 334.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.39 334.10 Td (first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 322.10 Td (half ) Tj ET Q q 0 0 0 rg BT 67.95 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 79.18 322.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.18 322.10 Td ( ) Tj ET Q q 0 0 0 rg BT 102.09 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 119.43 322.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.55 322.10 Td ($8.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.44 322.10 Td ( ) Tj ET Q q 0 0 0 rg BT 186.34 322.10 Td (char) Tj ET Q q 0 0 0 rg BT 203.37 322.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 215.71 322.10 Td (for ) Tj ET Q q 0 0 0 rg BT 230.27 322.10 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 289.25 322.10 Td (repair ) Tj ET Q q 0 0 0 rg BT 315.47 322.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 338.37 322.10 Td (taken ) Tj ET Q q 0 0 0 rg BT 362.93 322.10 Td (during ) Tj ET Q q 0 0 0 rg BT 391.94 322.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.06 322.10 Td (first ) Tj ET Q q 0 0 0 rg BT 426.07 322.10 Td (half ) Tj ET Q q 0 0 0 rg BT 444.52 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 455.76 322.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.76 322.10 Td ( ) Tj ET Q q 0 0 0 rg BT 478.66 322.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 519.89 322.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 549.17 322.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 310.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 84.79 310.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 118.42 310.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 141.50 310.10 Td (mar) Tj ET Q q 0 0 0 rg BT 156.87 310.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 171.61 310.10 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.88 310.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.75 310.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.71 310.10 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.71 310.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.68 310.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 286.64 310.10 Td (points ) Tj ET Q q 0 0 0 rg BT 313.05 310.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.80 310.10 Td (18.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.63 310.10 Td ( ) Tj ET Q q 0 0 0 rg BT 350.59 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 360.33 310.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.51 310.10 Td (first ) Tj ET Q q 0 0 0 rg BT 392.59 310.10 Td (half ) Tj ET Q q 0 0 0 rg BT 410.10 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 420.39 310.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.39 310.10 Td ( ) Tj ET Q q 0 0 0 rg BT 442.36 310.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.76 310.10 Td (19.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.59 310.10 Td (, ) Tj ET Q q 0 0 0 rg BT 494.05 310.10 Td (lar) Tj ET Q q 0 0 0 rg BT 504.42 310.10 Td (gely ) Tj ET Q q 0 0 0 rg BT 523.60 310.10 Td (as ) Tj ET Q q 0 0 0 rg BT 533.90 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 540.30 310.10 Td (result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.25 298.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 88.21 298.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 140.07 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.92 298.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 169.90 298.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 192.32 298.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.51 298.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 230.63 298.10 Td (first ) Tj ET Q q 0 0 0 rg BT 249.15 298.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.70 298.10 Td ( ) Tj ET Q q 0 0 0 rg BT 267.12 298.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 308.96 298.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.16 298.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 347.27 298.10 Td (first ) Tj ET Q q 0 0 0 rg BT 365.79 298.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.34 298.10 Td ( ) Tj ET Q q 0 0 0 rg BT 383.76 298.10 Td (as ) Tj ET Q q 0 0 0 rg BT 394.51 298.10 Td (well ) Tj ET Q q 0 0 0 rg BT 414.14 298.10 Td (as ) Tj ET Q q 0 0 0 rg BT 424.89 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.53 298.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 457.50 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 468.25 298.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 496.78 298.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 536.40 298.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.06 286.10 Td (period ) Tj ET Q q 0 0 0 rg BT 93.95 286.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 136.72 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 147.84 286.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 170.62 286.10 Td (year) Tj ET Q q 0 0 0 rg BT 187.28 286.10 Td (. ) Tj ET Q q 0 0 0 rg BT 193.12 286.10 Td ( ) Tj ET Q q 0 0 0 rg BT 196.22 286.10 Td (W) Tj ET Q q 0 0 0 rg BT 204.86 286.10 Td (e ) Tj ET Q q 0 0 0 rg BT 212.64 286.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 242.08 286.10 Td (our ) Tj ET Q q 0 0 0 rg BT 258.76 286.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 283.21 286.10 Td (mar) Tj ET Q q 0 0 0 rg BT 298.58 286.10 Td (gins ) Tj ET Q q 0 0 0 rg BT 318.59 286.10 Td (throughout ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.82 286.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.82 286.10 Td ( ) Tj ET Q q 0 0 0 rg BT 389.17 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 400.29 286.10 Td (be ) Tj ET Q q 0 0 0 rg BT 413.07 286.10 Td (negatively ) Tj ET Q q 0 0 0 rg BT 458.06 286.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 498.06 286.10 Td (by ) Tj ET Q q 0 0 0 rg BT 511.40 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.96 286.10 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 274.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 96.25 274.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 146.89 274.10 Td (related ) Tj ET Q q 0 0 0 rg BT 176.97 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 187.62 274.10 Td (our ) Tj ET Q q 0 0 0 rg BT 203.82 274.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 250.58 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 261.78 274.10 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 299.09 274.10 Td (Homes. ) Tj ET Q q 0 0 0 rg BT 332.79 274.10 Td ( ) Tj ET Q q 0 0 0 rg BT 335.67 274.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 354.09 274.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 378.08 274.10 Td (mar) Tj ET Q q 0 0 0 rg BT 393.45 274.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 409.10 274.10 Td (on ) Tj ET Q q 0 0 0 rg BT 421.97 274.10 Td (land ) Tj ET Q q 0 0 0 rg BT 442.06 274.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 464.37 274.10 Td (remained ) Tj ET Q q 0 0 0 rg BT 504.45 274.10 Td (flat ) Tj ET Q q 0 0 0 rg BT 520.65 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 531.30 274.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.39 274.10 Td (first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 262.10 Td (half ) Tj ET Q q 0 0 0 rg BT 67.55 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 78.38 262.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.38 262.10 Td ( ) Tj ET Q q 0 0 0 rg BT 100.88 262.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 142.80 262.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.08 262.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 181.27 262.10 Td (first ) Tj ET Q q 0 0 0 rg BT 199.88 262.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.43 262.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 238.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 238.10 Td (e ) Tj ET Q q 0 0 0 rg BT 64.76 238.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 95.82 238.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.23 238.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.98 238.10 Td ( ) Tj ET Q q 0 0 0 rg BT 150.17 238.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 171.79 238.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 203.98 238.10 Td (during ) Tj ET Q q 0 0 0 rg BT 232.27 238.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.68 238.10 Td (three ) Tj ET Q q 0 0 0 rg BT 268.85 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 285.48 238.10 Td (six ) Tj ET Q q 0 0 0 rg BT 299.33 238.10 Td (months ) Tj ET Q q 0 0 0 rg BT 330.97 238.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 357.03 238.10 Td (June ) Tj ET Q q 0 0 0 rg BT 377.55 238.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 392.24 238.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.24 238.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.43 238.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 456.04 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 466.00 238.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.41 238.10 Td (three ) Tj ET Q q 0 0 0 rg BT 502.58 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 519.21 238.10 Td (six ) Tj ET Q q 0 0 0 rg BT 533.06 238.10 Td (months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 226.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 75.59 226.10 Td (June ) Tj ET Q q 0 0 0 rg BT 96.12 226.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 110.83 226.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.83 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.04 226.10 Td (was ) Tj ET Q q 0 0 0 rg BT 150.80 226.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 178.56 226.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 217.98 226.10 Td (by ) Tj ET Q q 0 0 0 rg BT 230.19 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.61 226.10 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 301.25 226.10 Td (economy ) Tj ET Q q 0 0 0 rg BT 340.12 226.10 Td (described ) Tj ET Q q 0 0 0 rg BT 380.64 226.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 409.23 226.10 Td (constrained ) Tj ET Q q 0 0 0 rg BT 457.53 226.10 Td (supply/demand ) Tj ET Q q 0 0 0 rg BT 520.84 226.10 Td (conditions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 214.10 Td (\(particularly ) Tj ET Q q 0 0 0 rg BT 101.18 214.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 142.85 214.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 183.44 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 194.03 214.10 Td (resale ) Tj ET Q q 0 0 0 rg BT 219.61 214.10 Td (homes\), ) Tj ET Q q 0 0 0 rg BT 253.81 214.10 Td (as ) Tj ET Q q 0 0 0 rg BT 264.40 214.10 Td (well ) Tj ET Q q 0 0 0 rg BT 283.88 214.10 Td (as ) Tj ET Q q 0 0 0 rg BT 294.47 214.10 Td (better ) Tj ET Q q 0 0 0 rg BT 319.49 214.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 350.08 214.10 Td (leverage ) Tj ET Q q 0 0 0 rg BT 386.20 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 396.24 214.10 Td (select ) Tj ET Q q 0 0 0 rg BT 421.26 214.10 Td (locations ) Tj ET Q q 0 0 0 rg BT 459.63 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 476.33 214.10 Td (submarkets ) Tj ET Q q 0 0 0 rg BT 524.13 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 540.83 214.10 Td (shifts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 202.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.05 202.10 Td (both ) Tj ET Q q 0 0 0 rg BT 80.59 202.10 Td (product ) Tj ET Q q 0 0 0 rg BT 113.91 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 131.11 202.10 Td (community ) Tj ET Q q 0 0 0 rg BT 179.43 202.10 Td (mix. ) Tj ET Q q 0 0 0 rg BT 200.26 202.10 Td ( ) Tj ET Q q 0 0 0 rg BT 203.02 202.10 Td (In ) Tj ET Q q 0 0 0 rg BT 214.12 202.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 252.16 202.10 Td (our ) Tj ET Q q 0 0 0 rg BT 268.26 202.10 Td (new ) Tj ET Q q 0 0 0 rg BT 287.69 202.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 326.55 202.10 Td (benefited ) Tj ET Q q 0 0 0 rg BT 366.52 202.10 Td (from ) Tj ET Q q 0 0 0 rg BT 388.72 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 403.71 202.10 Td (opening ) Tj ET Q q 0 0 0 rg BT 438.69 202.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.79 202.10 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.79 202.10 Td ( ) Tj ET Q q 0 0 0 rg BT 462.56 202.10 Td (new ) Tj ET Q q 0 0 0 rg BT 481.99 202.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 536.41 202.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 190.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.03 190.10 Td (first ) Tj ET Q q 0 0 0 rg BT 82.44 190.10 Td (half ) Tj ET Q q 0 0 0 rg BT 100.30 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 110.94 190.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.94 190.10 Td (. ) Tj ET Q q 0 0 0 rg BT 135.75 190.10 Td ( ) Tj ET Q q 0 0 0 rg BT 137.89 190.10 Td (W) Tj ET Q q 0 0 0 rg BT 146.53 190.10 Td (e ) Tj ET Q q 0 0 0 rg BT 153.28 190.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 169.47 190.10 Td (a ) Tj ET Q q 0 0 0 rg BT 176.22 190.10 Td (variety ) Tj ET Q q 0 0 0 rg BT 206.30 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 216.94 190.10 Td (home ) Tj ET Q q 0 0 0 rg BT 241.46 190.10 Td (types ) Tj ET Q q 0 0 0 rg BT 264.88 190.10 Td (in ) Tj ET Q q 0 0 0 rg BT 274.97 190.10 Td (various ) Tj ET Q q 0 0 0 rg BT 306.72 190.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 360.69 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 377.43 190.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 413.90 190.10 Td (each ) Tj ET Q q 0 0 0 rg BT 434.52 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 445.16 190.10 Td (which ) Tj ET Q q 0 0 0 rg BT 471.91 190.10 Td (yields ) Tj ET Q q 0 0 0 rg BT 498.11 190.10 Td (a ) Tj ET Q q 0 0 0 rg BT 504.86 190.10 Td (dif) Tj ET Q q 0 0 0 rg BT 515.78 190.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 541.41 190.10 Td (gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (mar) Tj ET Q q 0 0 0 rg BT 64.87 178.10 Td (gin. ) Tj ET Q q 0 0 0 rg BT 82.44 178.10 Td ( ) Tj ET Q q 0 0 0 rg BT 84.58 178.10 Td (The ) Tj ET Q q 0 0 0 rg BT 102.42 178.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 130.84 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 141.47 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.98 178.10 Td (openings ) Tj ET Q q 0 0 0 rg BT 194.39 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.02 178.10 Td (new ) Tj ET Q q 0 0 0 rg BT 223.98 178.10 Td (replacement ) Tj ET Q q 0 0 0 rg BT 275.14 178.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 329.10 178.10 Td (as ) Tj ET Q q 0 0 0 rg BT 339.73 178.10 Td (well ) Tj ET Q q 0 0 0 rg BT 359.25 178.10 Td (as ) Tj ET Q q 0 0 0 rg BT 369.88 178.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 415.50 178.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 428.36 178.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 450.66 178.10 Td (varies ) Tj ET Q q 0 0 0 rg BT 476.83 178.10 Td (from ) Tj ET Q q 0 0 0 rg BT 498.57 178.10 Td (year ) Tj ET Q q 0 0 0 rg BT 518.08 178.10 Td (to ) Tj ET Q q 0 0 0 rg BT 528.16 178.10 Td (year) Tj ET Q q 0 0 0 rg BT 544.81 178.10 Td (. ) Tj ET Q q 0 0 0 rg BT 549.61 178.10 Td ( ) Tj ET Q q 0 0 0 rg BT 551.40 178.10 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 166.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.58 166.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 83.93 166.10 Td (our ) Tj ET Q q 0 0 0 rg BT 99.90 166.10 Td (new ) Tj ET Q q 0 0 0 rg BT 119.20 166.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 157.93 166.10 Td (and ) Tj ET Q q 0 0 0 rg BT 175.01 166.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 209.31 166.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 233.07 166.10 Td (mar) Tj ET Q q 0 0 0 rg BT 248.43 166.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 263.85 166.10 Td (may ) Tj ET Q q 0 0 0 rg BT 283.70 166.10 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 321.32 166.10 Td (up ) Tj ET Q q 0 0 0 rg BT 333.96 166.10 Td (or ) Tj ET Q q 0 0 0 rg BT 344.93 166.10 Td (down ) Tj ET Q q 0 0 0 rg BT 369.79 166.10 Td (from ) Tj ET Q q 0 0 0 rg BT 391.87 166.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 422.82 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 433.24 166.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 464.19 166.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 508.48 166.10 Td (on ) Tj ET Q q 0 0 0 rg BT 521.12 166.10 Td (the ) Tj ET Q q 0 0 0 rg BT 535.98 166.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 554.17 166.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 154.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 103.73 154.10 Td (delivering ) Tj ET Q q 0 0 0 rg BT 146.83 154.10 Td (homes. ) Tj ET Q q 0 0 0 rg BT 178.01 154.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.38 154.10 Td (The ) Tj ET Q q 0 0 0 rg BT 198.50 154.10 Td (improvements ) Tj ET Q q 0 0 0 rg BT 258.27 154.10 Td (described ) Tj ET Q q 0 0 0 rg BT 299.15 154.10 Td (above ) Tj ET Q q 0 0 0 rg BT 325.60 154.10 Td (were ) Tj ET Q q 0 0 0 rg BT 347.59 154.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 383.47 154.10 Td (of) Tj ET Q q 0 0 0 rg BT 391.62 154.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 408.63 154.10 Td (by ) Tj ET Q q 0 0 0 rg BT 421.19 154.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 449.30 154.10 Td (average ) Tj ET Q q 0 0 0 rg BT 482.95 154.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 496.07 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 513.08 154.10 Td (construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 142.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.59 142.10 Td (related ) Tj ET Q q 0 0 0 rg BT 102.88 142.10 Td (to ) Tj ET Q q 0 0 0 rg BT 113.75 142.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 172.39 142.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 208.25 142.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 253.01 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 270.53 142.10 Td (normal ) Tj ET Q q 0 0 0 rg BT 301.95 142.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 331.70 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 349.23 142.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 383.98 142.10 Td (dynamics. ) Tj ET Q q 0 0 0 rg BT 427.89 142.10 Td ( ) Tj ET Q q 0 0 0 rg BT 430.98 142.10 Td (During ) Tj ET Q q 0 0 0 rg BT 462.40 142.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.70 142.10 Td (three ) Tj ET Q q 0 0 0 rg BT 500.77 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.30 142.10 Td (six ) Tj ET Q q 0 0 0 rg BT 533.06 142.10 Td (months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 130.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 76.08 130.10 Td (June ) Tj ET Q q 0 0 0 rg BT 97.11 130.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 112.30 130.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 135.00 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 152.14 130.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.14 130.10 Td (, ) Tj ET Q q 0 0 0 rg BT 177.34 130.10 Td (we ) Tj ET Q q 0 0 0 rg BT 191.70 130.10 Td (were ) Tj ET Q q 0 0 0 rg BT 213.83 130.10 Td (able ) Tj ET Q q 0 0 0 rg BT 233.18 130.10 Td (to ) Tj ET Q q 0 0 0 rg BT 243.66 130.10 Td (pass ) Tj ET Q q 0 0 0 rg BT 263.58 130.10 Td (a ) Tj ET Q q 0 0 0 rg BT 270.72 130.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 302.30 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 313.33 130.10 Td (the ) Tj ET Q q 0 0 0 rg BT 328.25 130.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 356.50 130.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 408.63 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 425.77 130.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 439.02 130.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 461.72 130.10 Td (to ) Tj ET Q q 0 0 0 rg BT 472.20 130.10 Td (our ) Tj ET Q q 0 0 0 rg BT 488.23 130.10 Td (homebuyers ) Tj ET Q q 0 0 0 rg BT 539.80 130.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.28 130.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 118.10 Td (form ) Tj ET Q q 0 0 0 rg BT 71.44 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 82.27 118.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 110.32 118.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 132.25 118.10 Td (prices. ) Tj ET Q q 0 0 0 rg BT 161.13 118.10 Td ( ) Tj ET Q q 0 0 0 rg BT 163.63 118.10 Td (However) Tj ET Q q 0 0 0 rg BT 199.88 118.10 Td (, ) Tj ET Q q 0 0 0 rg BT 204.88 118.10 Td (we ) Tj ET Q q 0 0 0 rg BT 219.04 118.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 248.20 118.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 281.24 118.10 Td (any ) Tj ET Q q 0 0 0 rg BT 298.18 118.10 Td (assurance ) Tj ET Q q 0 0 0 rg BT 339.55 118.10 Td (that ) Tj ET Q q 0 0 0 rg BT 357.04 118.10 Td (we ) Tj ET Q q 0 0 0 rg BT 371.20 118.10 Td (will ) Tj ET Q q 0 0 0 rg BT 389.26 118.10 Td (be ) Tj ET Q q 0 0 0 rg BT 401.20 118.10 Td (able ) Tj ET Q q 0 0 0 rg BT 420.35 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 430.63 118.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 467.57 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 477.84 118.10 Td (raise ) Tj ET Q q 0 0 0 rg BT 499.22 118.10 Td (prices.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 96.10 Td (For ) Tj ET Q q 0 0 0 rg BT 66.53 96.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.89 96.10 Td (three ) Tj ET Q q 0 0 0 rg BT 105.02 96.10 Td (months ) Tj ET Q q 0 0 0 rg BT 137.61 96.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 164.63 96.10 Td (June ) Tj ET Q q 0 0 0 rg BT 186.10 96.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 201.74 96.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.74 96.10 Td (, ) Tj ET Q q 0 0 0 rg BT 227.39 96.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 259.69 96.10 Td (general ) Tj ET Q q 0 0 0 rg BT 292.26 96.10 Td (and ) Tj ET Q q 0 0 0 rg BT 309.84 96.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 370.19 96.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.54 96.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.29 96.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.43 96.10 Td ($9.9 ) Tj ET Q q 0 0 0 rg BT 467.08 96.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.97 96.10 Td (, ) Tj ET Q q 0 0 0 rg BT 501.61 96.10 Td (which ) Tj ET Q q 0 0 0 rg BT 529.19 96.10 Td (partially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 84.10 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 84.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 74.29 84.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.72 84.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.47 84.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.68 84.10 Td (in ) Tj ET Q q 0 0 0 rg BT 133.66 84.10 Td (our ) Tj ET Q q 0 0 0 rg BT 149.20 84.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 172.52 84.10 Td (mar) Tj ET Q q 0 0 0 rg BT 187.88 84.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 202.87 84.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 243.40 84.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 271.99 84.10 Td (but ) Tj ET Q q 0 0 0 rg BT 286.97 84.10 Td (declined ) Tj ET Q q 0 0 0 rg BT 323.05 84.10 Td (as ) Tj ET Q q 0 0 0 rg BT 333.58 84.10 Td (a ) Tj ET Q q 0 0 0 rg BT 340.23 84.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 385.74 84.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.27 84.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 430.12 84.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.77 84.10 Td (13.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.60 84.10 Td ( ) Tj ET Q q 0 0 0 rg BT 479.80 84.10 Td (in ) Tj ET Q q 0 0 0 rg BT 489.79 84.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.21 84.10 Td (second ) Tj ET Q q 0 0 0 rg BT 534.19 84.10 Td (quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 72.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.06 72.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.06 72.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.30 72.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.31 72.10 Td (12.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.14 72.10 Td ( ) Tj ET Q q 0 0 0 rg BT 120.37 72.10 Td (in ) Tj ET Q q 0 0 0 rg BT 130.38 72.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.83 72.10 Td (second ) Tj ET Q q 0 0 0 rg BT 174.83 72.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 205.38 72.10 Td (of ) Tj ET Q q 0 0 0 rg BT 215.94 72.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.94 72.10 Td (. ) Tj ET Q q 0 0 0 rg BT 240.68 72.10 Td ( ) Tj ET Q q 0 0 0 rg BT 242.91 72.10 Td (Selling ) Tj ET Q q 0 0 0 rg BT 273.48 72.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.92 72.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.67 72.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.90 72.10 Td ($5.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.80 72.10 Td ( ) Tj ET Q q 0 0 0 rg BT 399.03 72.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.70 72.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 448.63 72.10 Td (second ) Tj ET Q q 0 0 0 rg BT 478.63 72.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.94 72.10 Td ( ) Tj ET Q q 0 0 0 rg BT 509.18 72.10 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.19 72.10 Td (improved) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 60.10 Td (as ) Tj ET Q q 0 0 0 rg BT 61.05 60.10 Td (a ) Tj ET Q q 0 0 0 rg BT 68.70 60.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 115.22 60.10 Td (of ) Tj ET Q q 0 0 0 rg BT 126.77 60.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 161.63 60.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.62 60.10 Td (6.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.45 60.10 Td ( ) Tj ET Q q 0 0 0 rg BT 196.67 60.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.67 60.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 236.58 60.10 Td (second ) Tj ET Q q 0 0 0 rg BT 267.56 60.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.88 60.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.09 60.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 341.73 60.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.73 60.10 Td (6.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.56 60.10 Td ( ) Tj ET Q q 0 0 0 rg BT 376.78 60.10 Td (for ) Tj ET Q q 0 0 0 rg BT 391.65 60.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.09 60.10 Td (same ) Tj ET Q q 0 0 0 rg BT 430.85 60.10 Td (period ) Tj ET Q q 0 0 0 rg BT 459.61 60.10 Td (in ) Tj ET Q q 0 0 0 rg BT 470.61 60.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.61 60.10 Td (. ) Tj ET Q q 0 0 0 rg BT 496.33 60.10 Td ( ) Tj ET Q q 0 0 0 rg BT 499.31 60.10 Td (V) Tj ET Q q 0 0 0 rg BT 505.42 60.10 Td (ariable ) Tj ET Q q 0 0 0 rg BT 535.84 60.10 Td (selling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 48.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 83.15 48.10 Td (for ) Tj ET Q q 0 0 0 rg BT 96.25 48.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 117.13 48.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 170.80 48.10 Td (contributed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.79 48.10 Td ($4.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.68 48.10 Td ( ) Tj ET Q q 0 0 0 rg BT 268.12 48.10 Td (to ) Tj ET Q q 0 0 0 rg BT 277.34 48.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 48.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.76 48.10 Td ( ) Tj ET Q q 0 0 0 rg BT 325.20 48.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.53 48.10 Td ($0.9 ) Tj ET Q q 0 0 0 rg BT 347.47 48.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.37 48.10 Td ( ) Tj ET Q q 0 0 0 rg BT 377.81 48.10 Td (of ) Tj ET Q q 0 0 0 rg BT 387.58 48.10 Td (which ) Tj ET Q q 0 0 0 rg BT 413.46 48.10 Td (related ) Tj ET Q q 0 0 0 rg BT 442.11 48.10 Td (to ) Tj ET Q q 0 0 0 rg BT 451.33 48.10 Td (incremental ) Tj ET Q q 0 0 0 rg BT 499.97 48.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 521.41 48.10 Td (associated ) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (with ) Tj ET Q q 0 0 0 rg BT 69.41 740.10 Td (our ) Tj ET Q q 0 0 0 rg BT 84.88 740.10 Td (new ) Tj ET Q q 0 0 0 rg BT 103.67 740.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 134.13 740.10 Td (division\) ) Tj ET Q q 0 0 0 rg BT 171.83 740.10 Td (due ) Tj ET Q q 0 0 0 rg BT 188.40 740.10 Td (to ) Tj ET Q q 0 0 0 rg BT 198.31 740.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.67 740.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.21 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 240.35 740.10 Td (average ) Tj ET Q q 0 0 0 rg BT 273.57 740.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 295.14 740.10 Td (price ) Tj ET Q q 0 0 0 rg BT 317.26 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.73 740.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 355.97 740.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 395.31 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 411.88 740.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.23 740.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.78 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 453.92 740.10 Td (number ) Tj ET Q q 0 0 0 rg BT 486.60 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 497.06 740.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 525.31 740.10 Td (delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.43 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.79 728.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 103.55 728.10 Td (. ) Tj ET Q q 0 0 0 rg BT 109.20 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 112.12 728.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.81 728.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.57 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 166.71 728.10 Td (in ) Tj ET Q q 0 0 0 rg BT 177.64 728.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 207.45 728.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 242.81 728.10 Td (was ) Tj ET Q q 0 0 0 rg BT 261.50 728.10 Td (also ) Tj ET Q q 0 0 0 rg BT 280.76 728.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 329.44 728.10 Td (to ) Tj ET Q q 0 0 0 rg BT 340.37 728.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.95 728.10 Td ($1.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.85 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.99 728.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.75 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 435.89 728.10 Td (in ) Tj ET Q q 0 0 0 rg BT 446.82 728.10 Td (non-variable ) Tj ET Q q 0 0 0 rg BT 500.50 728.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 530.31 728.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 89.27 716.10 Td (related ) Tj ET Q q 0 0 0 rg BT 119.03 716.10 Td (to ) Tj ET Q q 0 0 0 rg BT 129.36 716.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 151.92 716.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 195.57 716.10 Td (with ) Tj ET Q q 0 0 0 rg BT 215.90 716.10 Td (our ) Tj ET Q q 0 0 0 rg BT 231.79 716.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 253.78 716.10 Td (of) Tj ET Q q 0 0 0 rg BT 261.93 716.10 Td (fices ) Tj ET Q q 0 0 0 rg BT 283.36 716.10 Td (and ) Tj ET Q q 0 0 0 rg BT 300.36 716.10 Td (models ) Tj ET Q q 0 0 0 rg BT 331.80 716.10 Td (as ) Tj ET Q q 0 0 0 rg BT 342.69 716.10 Td (a ) Tj ET Q q 0 0 0 rg BT 349.68 716.10 Td (result ) Tj ET Q q 0 0 0 rg BT 374.46 716.10 Td (of ) Tj ET Q q 0 0 0 rg BT 385.34 716.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.23 716.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.98 716.10 Td (d ) Tj ET Q q 0 0 0 rg BT 441.54 716.10 Td (average ) Tj ET Q q 0 0 0 rg BT 475.18 716.10 Td (community ) Tj ET Q q 0 0 0 rg BT 523.29 716.10 Td (count ) Tj ET Q q 0 0 0 rg BT 548.06 716.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.13 704.10 Td ($0.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.03 704.10 Td ( ) Tj ET Q q 0 0 0 rg BT 107.22 704.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 142.17 704.10 Td (related ) Tj ET Q q 0 0 0 rg BT 171.57 704.10 Td (to ) Tj ET Q q 0 0 0 rg BT 181.55 704.10 Td (incremental ) Tj ET Q q 0 0 0 rg BT 230.94 704.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 253.14 704.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 296.43 704.10 Td (with ) Tj ET Q q 0 0 0 rg BT 316.40 704.10 Td (our ) Tj ET Q q 0 0 0 rg BT 331.93 704.10 Td (new ) Tj ET Q q 0 0 0 rg BT 350.78 704.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 381.30 704.10 Td (division. ) Tj ET Q q 0 0 0 rg BT 418.23 704.10 Td ( ) Tj ET Q q 0 0 0 rg BT 420.42 704.10 Td (General ) Tj ET Q q 0 0 0 rg BT 454.27 704.10 Td (and ) Tj ET Q q 0 0 0 rg BT 470.90 704.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 530.30 704.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.25 692.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.84 692.10 Td ($4.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.74 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 141.33 692.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 183.34 692.10 Td (to ) Tj ET Q q 0 0 0 rg BT 193.71 692.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.52 692.10 Td (second ) Tj ET Q q 0 0 0 rg BT 238.88 692.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 269.78 692.10 Td (of ) Tj ET Q q 0 0 0 rg BT 280.70 692.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.70 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 303.29 692.10 Td (but ) Tj ET Q q 0 0 0 rg BT 318.66 692.10 Td (declined ) Tj ET Q q 0 0 0 rg BT 355.12 692.10 Td (as ) Tj ET Q q 0 0 0 rg BT 366.04 692.10 Td (a ) Tj ET Q q 0 0 0 rg BT 373.07 692.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 418.96 692.10 Td (of ) Tj ET Q q 0 0 0 rg BT 429.88 692.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 464.12 692.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 692.10 Td (6.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.98 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 509.57 692.10 Td (in ) Tj ET Q q 0 0 0 rg BT 519.94 692.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.74 692.10 Td (second ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 81.38 680.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.27 680.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.27 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 116.84 680.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.18 680.10 Td (6.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.01 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 152.57 680.10 Td (in ) Tj ET Q q 0 0 0 rg BT 163.91 680.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.69 680.10 Td (second ) Tj ET Q q 0 0 0 rg BT 211.03 680.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 242.90 680.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.80 680.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.80 680.10 Td (. ) Tj ET Q q 0 0 0 rg BT 280.86 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 284.17 680.10 Td (This ) Tj ET Q q 0 0 0 rg BT 305.51 680.10 Td (dollar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.40 680.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 368.71 680.10 Td (was ) Tj ET Q q 0 0 0 rg BT 387.83 680.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 428.61 680.10 Td (due ) Tj ET Q q 0 0 0 rg BT 446.61 680.10 Td (to ) Tj ET Q q 0 0 0 rg BT 457.95 680.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.95 680.10 Td ($1.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.84 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.41 680.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.16 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.72 680.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (professional ) Tj ET Q q 0 0 0 rg BT 101.63 668.10 Td (fees, ) Tj ET Q q 0 0 0 rg BT 123.48 668.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.17 668.10 Td ($1.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.06 668.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.31 668.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.07 668.10 Td ( ) Tj ET Q q 0 0 0 rg BT 219.32 668.10 Td (related ) Tj ET Q q 0 0 0 rg BT 249.77 668.10 Td (to ) Tj ET Q q 0 0 0 rg BT 260.80 668.10 Td (incremental ) Tj ET Q q 0 0 0 rg BT 311.25 668.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 334.50 668.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 378.85 668.10 Td (with ) Tj ET Q q 0 0 0 rg BT 399.88 668.10 Td (our ) Tj ET Q q 0 0 0 rg BT 416.46 668.10 Td (new ) Tj ET Q q 0 0 0 rg BT 436.38 668.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 467.95 668.10 Td (division, ) Tj ET Q q 0 0 0 rg BT 505.93 668.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.62 668.10 Td ($0.7million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 656.10 Td ( ) Tj ET Q q 0 0 0 rg BT 84.17 656.10 Td (in ) Tj ET Q q 0 0 0 rg BT 93.87 656.10 Td (land ) Tj ET Q q 0 0 0 rg BT 113.00 656.10 Td (related ) Tj ET Q q 0 0 0 rg BT 142.12 656.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 182.64 656.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.00 656.10 Td ($0.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.89 656.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.81 656.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.56 656.10 Td ( ) Tj ET Q q 0 0 0 rg BT 274.48 656.10 Td (in ) Tj ET Q q 0 0 0 rg BT 284.17 656.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 306.09 656.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 349.10 656.10 Td (with ) Tj ET Q q 0 0 0 rg BT 368.80 656.10 Td (new ) Tj ET Q q 0 0 0 rg BT 387.38 656.10 Td (information ) Tj ET Q q 0 0 0 rg BT 436.51 656.10 Td (systems, ) Tj ET Q q 0 0 0 rg BT 472.60 656.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.95 656.10 Td ($0.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.84 656.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.76 656.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.45 644.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 119.16 644.10 Td (related ) Tj ET Q q 0 0 0 rg BT 149.53 644.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 188.80 644.10 Td (due ) Tj ET Q q 0 0 0 rg BT 206.41 644.10 Td (to ) Tj ET Q q 0 0 0 rg BT 217.36 644.10 Td (our ) Tj ET Q q 0 0 0 rg BT 233.86 644.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 274.79 644.10 Td (headcount, ) Tj ET Q q 0 0 0 rg BT 321.55 644.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.16 644.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 378.97 644.10 Td (in ) Tj ET Q q 0 0 0 rg BT 389.92 644.10 Td (other ) Tj ET Q q 0 0 0 rg BT 413.64 644.10 Td (miscellaneous ) Tj ET Q q 0 0 0 rg BT 473.46 644.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 515.23 644.10 Td ( ) Tj ET Q q 0 0 0 rg BT 518.40 644.10 Td (For ) Tj ET Q q 0 0 0 rg BT 535.46 644.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.85 644.10 Td (six ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (months ) Tj ET Q q 0 0 0 rg BT 80.48 632.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 105.88 632.10 Td (June ) Tj ET Q q 0 0 0 rg BT 125.74 632.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 139.77 632.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.77 632.10 Td (, ) Tj ET Q q 0 0 0 rg BT 163.80 632.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 194.49 632.10 Td (general ) Tj ET Q q 0 0 0 rg BT 225.44 632.10 Td (and ) Tj ET Q q 0 0 0 rg BT 241.41 632.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 300.14 632.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.88 632.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.63 632.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.16 632.10 Td ($12.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.05 632.10 Td (, ) Tj ET Q q 0 0 0 rg BT 431.08 632.10 Td (which ) Tj ET Q q 0 0 0 rg BT 457.05 632.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 491.90 632.10 Td (of) Tj ET Q q 0 0 0 rg BT 500.05 632.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 516.01 632.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.76 632.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.00 620.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.04 620.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 99.87 620.10 Td (mar) Tj ET Q q 0 0 0 rg BT 115.24 620.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 130.74 620.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 171.78 620.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 200.88 620.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.03 620.10 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.36 620.10 Td ( ) Tj ET Q q 0 0 0 rg BT 259.08 620.10 Td (as ) Tj ET Q q 0 0 0 rg BT 270.12 620.10 Td (a ) Tj ET Q q 0 0 0 rg BT 277.28 620.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 323.30 620.10 Td (of ) Tj ET Q q 0 0 0 rg BT 334.34 620.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 368.71 620.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.86 620.10 Td (13.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.69 620.10 Td ( ) Tj ET Q q 0 0 0 rg BT 419.41 620.10 Td (in ) Tj ET Q q 0 0 0 rg BT 429.91 620.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.84 620.10 Td (first ) Tj ET Q q 0 0 0 rg BT 463.67 620.10 Td (half ) Tj ET Q q 0 0 0 rg BT 481.93 620.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.98 620.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.98 620.10 Td ( ) Tj ET Q q 0 0 0 rg BT 515.69 620.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.19 620.10 Td (12.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.02 620.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.74 620.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.10 608.10 Td (first ) Tj ET Q q 0 0 0 rg BT 82.58 608.10 Td (half ) Tj ET Q q 0 0 0 rg BT 100.51 608.10 Td (of ) Tj ET Q q 0 0 0 rg BT 111.22 608.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.22 608.10 Td (. ) Tj ET Q q 0 0 0 rg BT 136.10 608.10 Td ( ) Tj ET Q q 0 0 0 rg BT 138.48 608.10 Td (Selling ) Tj ET Q q 0 0 0 rg BT 169.19 608.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.78 608.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.53 608.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.91 608.10 Td ($8.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.80 608.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.18 608.10 Td (from ) Tj ET Q q 0 0 0 rg BT 317.00 608.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.60 608.10 Td (first ) Tj ET Q q 0 0 0 rg BT 350.09 608.10 Td (half ) Tj ET Q q 0 0 0 rg BT 368.01 608.10 Td (of ) Tj ET Q q 0 0 0 rg BT 378.72 608.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.72 608.10 Td ( ) Tj ET Q q 0 0 0 rg BT 401.10 608.10 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.26 608.10 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.58 608.10 Td ( ) Tj ET Q q 0 0 0 rg BT 456.96 608.10 Td (as ) Tj ET Q q 0 0 0 rg BT 467.67 608.10 Td (a ) Tj ET Q q 0 0 0 rg BT 474.49 608.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 520.17 608.10 Td (of ) Tj ET Q q 0 0 0 rg BT 530.88 608.10 Td (revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.55 596.10 Td (6.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.38 596.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.66 596.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.71 596.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 120.68 596.10 Td (first ) Tj ET Q q 0 0 0 rg BT 139.07 596.10 Td (six ) Tj ET Q q 0 0 0 rg BT 153.01 596.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.46 596.10 Td ( ) Tj ET Q q 0 0 0 rg BT 184.73 596.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 226.43 596.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.49 596.10 Td (6.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.32 596.10 Td ( ) Tj ET Q q 0 0 0 rg BT 259.59 596.10 Td (for ) Tj ET Q q 0 0 0 rg BT 273.53 596.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.02 596.10 Td (same ) Tj ET Q q 0 0 0 rg BT 310.84 596.10 Td (period ) Tj ET Q q 0 0 0 rg BT 338.67 596.10 Td (in ) Tj ET Q q 0 0 0 rg BT 348.72 596.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.72 596.10 Td (. ) Tj ET Q q 0 0 0 rg BT 373.49 596.10 Td ( ) Tj ET Q q 0 0 0 rg BT 375.60 596.10 Td (V) Tj ET Q q 0 0 0 rg BT 381.72 596.10 Td (ariable ) Tj ET Q q 0 0 0 rg BT 411.20 596.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 440.14 596.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 474.62 596.10 Td (for ) Tj ET Q q 0 0 0 rg BT 488.55 596.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 510.27 596.10 Td (commissions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (contributed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.57 584.10 Td ($5.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.46 584.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.98 584.10 Td (to ) Tj ET Q q 0 0 0 rg BT 156.29 584.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.03 584.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.78 584.10 Td ( ) Tj ET Q q 0 0 0 rg BT 204.31 584.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.64 584.10 Td ($1.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.53 584.10 Td ( ) Tj ET Q q 0 0 0 rg BT 258.05 584.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.91 584.10 Td (which ) Tj ET Q q 0 0 0 rg BT 293.87 584.10 Td (related ) Tj ET Q q 0 0 0 rg BT 322.60 584.10 Td (to ) Tj ET Q q 0 0 0 rg BT 331.90 584.10 Td (incremental ) Tj ET Q q 0 0 0 rg BT 380.62 584.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 402.15 584.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 444.77 584.10 Td (with ) Tj ET Q q 0 0 0 rg BT 464.07 584.10 Td (our ) Tj ET Q q 0 0 0 rg BT 478.93 584.10 Td (new ) Tj ET Q q 0 0 0 rg BT 497.11 584.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 526.96 584.10 Td (division\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (due ) Tj ET Q q 0 0 0 rg BT 65.72 572.10 Td (to ) Tj ET Q q 0 0 0 rg BT 75.28 572.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.27 572.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.82 572.10 Td ( ) Tj ET Q q 0 0 0 rg BT 116.60 572.10 Td (average ) Tj ET Q q 0 0 0 rg BT 149.46 572.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 170.68 572.10 Td (price ) Tj ET Q q 0 0 0 rg BT 192.45 572.10 Td (of ) Tj ET Q q 0 0 0 rg BT 202.56 572.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 230.44 572.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 269.43 572.10 Td (and ) Tj ET Q q 0 0 0 rg BT 285.65 572.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.64 572.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.19 572.10 Td ( ) Tj ET Q q 0 0 0 rg BT 326.97 572.10 Td (number ) Tj ET Q q 0 0 0 rg BT 359.29 572.10 Td (of ) Tj ET Q q 0 0 0 rg BT 369.40 572.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 397.29 572.10 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 438.77 572.10 Td ( ) Tj ET Q q 0 0 0 rg BT 440.43 572.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.75 572.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.51 572.10 Td ( ) Tj ET Q q 0 0 0 rg BT 492.29 572.10 Td (in ) Tj ET Q q 0 0 0 rg BT 501.84 572.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 530.29 572.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (was ) Tj ET Q q 0 0 0 rg BT 67.33 560.10 Td (also ) Tj ET Q q 0 0 0 rg BT 85.71 560.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 133.52 560.10 Td (to ) Tj ET Q q 0 0 0 rg BT 143.57 560.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.29 560.10 Td ($2.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.18 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.45 560.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.21 560.10 Td ( ) Tj ET Q q 0 0 0 rg BT 236.48 560.10 Td (in ) Tj ET Q q 0 0 0 rg BT 246.53 560.10 Td (non-variable ) Tj ET Q q 0 0 0 rg BT 299.34 560.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 328.28 560.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 362.76 560.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 402.25 560.10 Td (related ) Tj ET Q q 0 0 0 rg BT 431.72 560.10 Td (to ) Tj ET Q q 0 0 0 rg BT 441.78 560.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 464.05 560.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 507.42 560.10 Td (with ) Tj ET Q q 0 0 0 rg BT 527.47 560.10 Td (our ) Tj ET Q q 0 0 0 rg BT 543.08 560.10 Td (sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 548.10 Td (fices ) Tj ET Q q 0 0 0 rg BT 78.46 548.10 Td (and ) Tj ET Q q 0 0 0 rg BT 94.83 548.10 Td (models ) Tj ET Q q 0 0 0 rg BT 125.65 548.10 Td (as ) Tj ET Q q 0 0 0 rg BT 135.91 548.10 Td (a ) Tj ET Q q 0 0 0 rg BT 142.28 548.10 Td (result ) Tj ET Q q 0 0 0 rg BT 166.42 548.10 Td (of ) Tj ET Q q 0 0 0 rg BT 176.69 548.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.95 548.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.70 548.10 Td (d ) Tj ET Q q 0 0 0 rg BT 231.63 548.10 Td (community ) Tj ET Q q 0 0 0 rg BT 279.11 548.10 Td (count ) Tj ET Q q 0 0 0 rg BT 303.26 548.10 Td (and ) Tj ET Q q 0 0 0 rg BT 319.63 548.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.00 548.10 Td ($0.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.89 548.10 Td ( ) Tj ET Q q 0 0 0 rg BT 376.82 548.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 411.51 548.10 Td (related ) Tj ET Q q 0 0 0 rg BT 440.64 548.10 Td (to ) Tj ET Q q 0 0 0 rg BT 450.35 548.10 Td (incremental ) Tj ET Q q 0 0 0 rg BT 499.48 548.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 521.41 548.10 Td (associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (with ) Tj ET Q q 0 0 0 rg BT 70.34 536.10 Td (our ) Tj ET Q q 0 0 0 rg BT 86.73 536.10 Td (new ) Tj ET Q q 0 0 0 rg BT 106.45 536.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 137.83 536.10 Td (division. ) Tj ET Q q 0 0 0 rg BT 175.62 536.10 Td ( ) Tj ET Q q 0 0 0 rg BT 178.67 536.10 Td (General ) Tj ET Q q 0 0 0 rg BT 213.38 536.10 Td (and ) Tj ET Q q 0 0 0 rg BT 230.88 536.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 291.14 536.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.41 536.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.16 536.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.22 536.10 Td ($4.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.11 536.10 Td ( ) Tj ET Q q 0 0 0 rg BT 419.17 536.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 461.66 536.10 Td (to ) Tj ET Q q 0 0 0 rg BT 472.49 536.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.77 536.10 Td (first ) Tj ET Q q 0 0 0 rg BT 506.94 536.10 Td (six ) Tj ET Q q 0 0 0 rg BT 521.67 536.10 Td (months ) Tj ET Q q 0 0 0 rg BT 554.17 536.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 524.10 Td ( ) Tj ET Q q 0 0 0 rg BT 71.91 524.10 Td (but ) Tj ET Q q 0 0 0 rg BT 87.09 524.10 Td (declined ) Tj ET Q q 0 0 0 rg BT 123.37 524.10 Td (as ) Tj ET Q q 0 0 0 rg BT 134.11 524.10 Td (a ) Tj ET Q q 0 0 0 rg BT 140.95 524.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 186.66 524.10 Td (of ) Tj ET Q q 0 0 0 rg BT 197.39 524.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 231.45 524.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.29 524.10 Td (6.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.12 524.10 Td ( ) Tj ET Q q 0 0 0 rg BT 276.53 524.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.71 524.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 314.81 524.10 Td (first ) Tj ET Q q 0 0 0 rg BT 333.33 524.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.87 524.10 Td ( ) Tj ET Q q 0 0 0 rg BT 351.28 524.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.46 524.10 Td (6.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.29 524.10 Td ( ) Tj ET Q q 0 0 0 rg BT 384.70 524.10 Td (in ) Tj ET Q q 0 0 0 rg BT 394.88 524.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.51 524.10 Td (first ) Tj ET Q q 0 0 0 rg BT 428.02 524.10 Td (half ) Tj ET Q q 0 0 0 rg BT 445.97 524.10 Td (of ) Tj ET Q q 0 0 0 rg BT 456.71 524.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.71 524.10 Td (. ) Tj ET Q q 0 0 0 rg BT 481.62 524.10 Td ( ) Tj ET Q q 0 0 0 rg BT 483.85 524.10 Td (This ) Tj ET Q q 0 0 0 rg BT 504.03 524.10 Td (dollar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.77 524.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.10 Td (was ) Tj ET Q q 0 0 0 rg BT 67.84 512.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 107.83 512.10 Td (due ) Tj ET Q q 0 0 0 rg BT 125.06 512.10 Td (to ) Tj ET Q q 0 0 0 rg BT 135.62 512.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.84 512.10 Td ($1.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.73 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.52 512.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.27 512.10 Td ( ) Tj ET Q q 0 0 0 rg BT 230.06 512.10 Td (in ) Tj ET Q q 0 0 0 rg BT 240.62 512.10 Td (professional ) Tj ET Q q 0 0 0 rg BT 292.28 512.10 Td (fees, ) Tj ET Q q 0 0 0 rg BT 313.67 512.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.89 512.10 Td ($1.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.78 512.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.56 512.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.32 512.10 Td ( ) Tj ET Q q 0 0 0 rg BT 408.10 512.10 Td (related ) Tj ET Q q 0 0 0 rg BT 438.09 512.10 Td (to ) Tj ET Q q 0 0 0 rg BT 448.65 512.10 Td (incremental ) Tj ET Q q 0 0 0 rg BT 498.63 512.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 521.42 512.10 Td (associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td (with ) Tj ET Q q 0 0 0 rg BT 69.89 500.10 Td (our ) Tj ET Q q 0 0 0 rg BT 85.83 500.10 Td (new ) Tj ET Q q 0 0 0 rg BT 105.11 500.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 136.04 500.10 Td (division, ) Tj ET Q q 0 0 0 rg BT 173.38 500.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.43 500.10 Td ($0.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.32 500.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.94 500.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.69 500.10 Td ( ) Tj ET Q q 0 0 0 rg BT 267.30 500.10 Td (in ) Tj ET Q q 0 0 0 rg BT 277.69 500.10 Td (land ) Tj ET Q q 0 0 0 rg BT 297.52 500.10 Td (related ) Tj ET Q q 0 0 0 rg BT 327.34 500.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 366.05 500.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 405.87 500.10 Td (due ) Tj ET Q q 0 0 0 rg BT 422.92 500.10 Td (to ) Tj ET Q q 0 0 0 rg BT 433.31 500.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.26 500.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.01 500.10 Td (d ) Tj ET Q q 0 0 0 rg BT 489.62 500.10 Td (community ) Tj ET Q q 0 0 0 rg BT 537.79 500.10 Td (count, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.44 488.10 Td ($0.6 ) Tj ET Q q 0 0 0 rg BT 76.44 488.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.33 488.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.83 488.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.58 488.10 Td ( ) Tj ET Q q 0 0 0 rg BT 143.08 488.10 Td (in ) Tj ET Q q 0 0 0 rg BT 153.36 488.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 175.86 488.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 219.46 488.10 Td (with ) Tj ET Q q 0 0 0 rg BT 239.73 488.10 Td (new ) Tj ET Q q 0 0 0 rg BT 258.89 488.10 Td (information ) Tj ET Q q 0 0 0 rg BT 308.61 488.10 Td (systems, ) Tj ET Q q 0 0 0 rg BT 345.28 488.10 Td (and ) Tj ET Q q 0 0 0 rg BT 362.21 488.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 401.36 488.10 Td (in ) Tj ET Q q 0 0 0 rg BT 411.64 488.10 Td (other ) Tj ET Q q 0 0 0 rg BT 434.69 488.10 Td (miscellaneous ) Tj ET Q q 0 0 0 rg BT 493.84 488.10 Td (expenses.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 464.53505859375 m 84.509765625 464.53505859375 l s q 0 0 0 rg BT 49.50 466.10 Td (Outlook) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 444.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 444.10 Td (e ) Tj ET Q q 0 0 0 rg BT 63.92 444.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 94.13 444.10 Td (that ) Tj ET Q q 0 0 0 rg BT 110.47 444.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 143.48 444.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 177.60 444.10 Td (fundamentals ) Tj ET Q q 0 0 0 rg BT 232.81 444.10 Td (are ) Tj ET Q q 0 0 0 rg BT 246.36 444.10 Td (solid ) Tj ET Q q 0 0 0 rg BT 267.15 444.10 Td (and ) Tj ET Q q 0 0 0 rg BT 282.93 444.10 Td (that ) Tj ET Q q 0 0 0 rg BT 299.27 444.10 Td (continued ) Tj ET Q q 0 0 0 rg BT 340.05 444.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 369.72 444.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.84 444.10 Td (employment, ) Tj ET Q q 0 0 0 rg BT 432.67 444.10 Td (modest ) Tj ET Q q 0 0 0 rg BT 462.90 444.10 Td (wage ) Tj ET Q q 0 0 0 rg BT 485.34 444.10 Td (growth, ) Tj ET Q q 0 0 0 rg BT 517.51 444.10 Td (historically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 432.10 Td (low ) Tj ET Q q 0 0 0 rg BT 67.02 432.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 98.98 432.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 120.38 432.10 Td (\(despite ) Tj ET Q q 0 0 0 rg BT 154.55 432.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 181.50 432.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 220.67 432.10 Td (in ) Tj ET Q q 0 0 0 rg BT 230.97 432.10 Td (rates\) ) Tj ET Q q 0 0 0 rg BT 255.70 432.10 Td (and ) Tj ET Q q 0 0 0 rg BT 272.66 432.10 Td (growing ) Tj ET Q q 0 0 0 rg BT 308.51 432.10 Td (consumer ) Tj ET Q q 0 0 0 rg BT 349.91 432.10 Td (confidence ) Tj ET Q q 0 0 0 rg BT 396.29 432.10 Td (will ) Tj ET Q q 0 0 0 rg BT 414.37 432.10 Td (lead ) Tj ET Q q 0 0 0 rg BT 433.55 432.10 Td (to ) Tj ET Q q 0 0 0 rg BT 443.85 432.10 Td (improved ) Tj ET Q q 0 0 0 rg BT 484.70 432.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 510.54 432.10 Td (of ) Tj ET Q q 0 0 0 rg BT 521.39 432.10 Td (household ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 420.10 Td (formation ) Tj ET Q q 0 0 0 rg BT 91.89 420.10 Td (and ) Tj ET Q q 0 0 0 rg BT 109.29 420.10 Td (modest ) Tj ET Q q 0 0 0 rg BT 141.13 420.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 197.41 420.10 Td (in ) Tj ET Q q 0 0 0 rg BT 208.14 420.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 242.75 420.10 Td (for ) Tj ET Q q 0 0 0 rg BT 257.37 420.10 Td (new ) Tj ET Q q 0 0 0 rg BT 276.99 420.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 306.05 420.10 Td (throughout ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.89 420.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.89 420.10 Td (. ) Tj ET Q q 0 0 0 rg BT 378.35 420.10 Td ( ) Tj ET Q q 0 0 0 rg BT 381.09 420.10 Td (W) Tj ET Q q 0 0 0 rg BT 389.73 420.10 Td (e ) Tj ET Q q 0 0 0 rg BT 397.13 420.10 Td (also ) Tj ET Q q 0 0 0 rg BT 416.19 420.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 445.24 420.10 Td (the ) Tj ET Q q 0 0 0 rg BT 460.20 420.10 Td (T) Tj ET Q q 0 0 0 rg BT 465.61 420.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 478.01 420.10 Td (Cuts ) Tj ET Q q 0 0 0 rg BT 499.30 420.10 Td (and ) Tj ET Q q 0 0 0 rg BT 516.70 420.10 Td (Jobs ) Tj ET Q q 0 0 0 rg BT 536.78 420.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 554.18 420.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 408.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 72.09 408.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 90.23 408.10 Td (T) Tj ET Q q 0 0 0 rg BT 100.08 408.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 111.54 408.10 Td (Act\) ) Tj ET Q q 0 0 0 rg BT 136.34 408.10 Td (to ) Tj ET Q q 0 0 0 rg BT 146.71 408.10 Td (have ) Tj ET Q q 0 0 0 rg BT 168.17 408.10 Td (a ) Tj ET Q q 0 0 0 rg BT 175.21 408.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 209.46 408.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 239.27 408.10 Td (on ) Tj ET Q q 0 0 0 rg BT 251.86 408.10 Td (our ) Tj ET Q q 0 0 0 rg BT 267.78 408.10 Td (business ) Tj ET Q q 0 0 0 rg BT 304.26 408.10 Td (and ) Tj ET Q q 0 0 0 rg BT 321.29 408.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 354.43 408.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 397.01 408.10 Td (momentum ) Tj ET Q q 0 0 0 rg BT 445.16 408.10 Td (to ) Tj ET Q q 0 0 0 rg BT 455.53 408.10 Td (the ) Tj ET Q q 0 0 0 rg BT 470.34 408.10 Td (economy) Tj ET Q q 0 0 0 rg BT 506.34 408.10 Td (, ) Tj ET Q q 0 0 0 rg BT 511.43 408.10 Td (as ) Tj ET Q q 0 0 0 rg BT 522.36 408.10 Td (a ) Tj ET Q q 0 0 0 rg BT 529.39 408.10 Td (result ) Tj ET Q q 0 0 0 rg BT 554.19 408.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 396.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 77.35 396.10 Td (net ) Tj ET Q q 0 0 0 rg BT 91.86 396.10 Td (income ) Tj ET Q q 0 0 0 rg BT 123.60 396.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 149.22 396.10 Td (for ) Tj ET Q q 0 0 0 rg BT 163.18 396.10 Td (some ) Tj ET Q q 0 0 0 rg BT 186.59 396.10 Td (prospective ) Tj ET Q q 0 0 0 rg BT 234.98 396.10 Td (home ) Tj ET Q q 0 0 0 rg BT 259.50 396.10 Td (buyers ) Tj ET Q q 0 0 0 rg BT 288.46 396.10 Td (and ) Tj ET Q q 0 0 0 rg BT 305.20 396.10 Td (a ) Tj ET Q q 0 0 0 rg BT 311.94 396.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 351.44 396.10 Td (stimulative ) Tj ET Q q 0 0 0 rg BT 398.18 396.10 Td (ef) Tj ET Q q 0 0 0 rg BT 405.76 396.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 423.05 396.10 Td (on ) Tj ET Q q 0 0 0 rg BT 435.35 396.10 Td (employment, ) Tj ET Q q 0 0 0 rg BT 490.14 396.10 Td (wages ) Tj ET Q q 0 0 0 rg BT 517.43 396.10 Td (and ) Tj ET Q q 0 0 0 rg BT 534.17 396.10 Td (growth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 384.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.78 384.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.50 384.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 94.78 384.10 Td (economy) Tj ET Q q 0 0 0 rg BT 130.78 384.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 362.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 362.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.08 362.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 93.67 362.10 Td (to ) Tj ET Q q 0 0 0 rg BT 103.95 362.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 140.88 362.10 Td (to ) Tj ET Q q 0 0 0 rg BT 151.16 362.10 Td (emphasize ) Tj ET Q q 0 0 0 rg BT 195.86 362.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.58 362.10 Td (following ) Tj ET Q q 0 0 0 rg BT 251.97 362.10 Td (strategic ) Tj ET Q q 0 0 0 rg BT 288.34 362.10 Td (business ) Tj ET Q q 0 0 0 rg BT 324.73 362.10 Td (objectives ) Tj ET Q q 0 0 0 rg BT 367.77 362.10 Td (throughout ) Tj ET Q q 0 0 0 rg BT 414.16 362.10 Td (the ) Tj ET Q q 0 0 0 rg BT 428.88 362.10 Td (remainder ) Tj ET Q q 0 0 0 rg BT 471.91 362.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.74 362.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.74 362.10 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 340.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 340.10 Td (profitably ) Tj ET Q q 0 0 0 rg BT 127.43 340.10 Td (growing ) Tj ET Q q 0 0 0 rg BT 163.26 340.10 Td (our ) Tj ET Q q 0 0 0 rg BT 179.09 340.10 Td (presence ) Tj ET Q q 0 0 0 rg BT 216.57 340.10 Td (in ) Tj ET Q q 0 0 0 rg BT 226.85 340.10 Td (our ) Tj ET Q q 0 0 0 rg BT 242.68 340.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 276.84 340.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 313.50 340.10 Td (including ) Tj ET Q q 0 0 0 rg BT 353.77 340.10 Td (opening ) Tj ET Q q 0 0 0 rg BT 388.49 340.10 Td (new ) Tj ET Q q 0 0 0 rg BT 407.65 340.10 Td (communities;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 328.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 328.10 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 127.99 328.10 Td (new ) Tj ET Q q 0 0 0 rg BT 147.15 328.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 181.30 328.10 Td (for ) Tj ET Q q 0 0 0 rg BT 195.46 328.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 241.84 328.10 Td (opportunities;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 316.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 316.10 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 135.77 316.10 Td (a ) Tj ET Q q 0 0 0 rg BT 142.71 316.10 Td (strong ) Tj ET Q q 0 0 0 rg BT 170.21 316.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 203.24 316.10 Td (sheet; ) Tj ET Q q 0 0 0 rg BT 229.06 316.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 304.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 304.10 Td (emphasizing ) Tj ET Q q 0 0 0 rg BT 138.54 304.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 177.70 304.10 Td (service, ) Tj ET Q q 0 0 0 rg BT 211.01 304.10 Td (product ) Tj ET Q q 0 0 0 rg BT 244.06 304.10 Td (quality ) Tj ET Q q 0 0 0 rg BT 274.33 304.10 Td (and ) Tj ET Q q 0 0 0 rg BT 291.27 304.10 Td (design, ) Tj ET Q q 0 0 0 rg BT 322.38 304.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.32 304.10 Td (premier ) Tj ET Q q 0 0 0 rg BT 372.91 304.10 Td (locations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.10 Td (Consistent ) Tj ET Q q 0 0 0 rg BT 93.88 282.10 Td (with ) Tj ET Q q 0 0 0 rg BT 113.80 282.10 Td (these ) Tj ET Q q 0 0 0 rg BT 136.50 282.10 Td (objectives, ) Tj ET Q q 0 0 0 rg BT 181.69 282.10 Td (we ) Tj ET Q q 0 0 0 rg BT 195.50 282.10 Td (took ) Tj ET Q q 0 0 0 rg BT 215.42 282.10 Td (a ) Tj ET Q q 0 0 0 rg BT 222.01 282.10 Td (number ) Tj ET Q q 0 0 0 rg BT 254.71 282.10 Td (of ) Tj ET Q q 0 0 0 rg BT 265.18 282.10 Td (steps ) Tj ET Q q 0 0 0 rg BT 287.33 282.10 Td (during ) Tj ET Q q 0 0 0 rg BT 315.59 282.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.95 282.10 Td (first ) Tj ET Q q 0 0 0 rg BT 348.21 282.10 Td (six ) Tj ET Q q 0 0 0 rg BT 362.03 282.10 Td (months ) Tj ET Q q 0 0 0 rg BT 393.63 282.10 Td (of ) Tj ET Q q 0 0 0 rg BT 404.10 282.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.10 282.10 Td ( ) Tj ET Q q 0 0 0 rg BT 426.25 282.10 Td (for ) Tj ET Q q 0 0 0 rg BT 440.06 282.10 Td (continued ) Tj ET Q q 0 0 0 rg BT 481.64 282.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 537.11 282.10 Td (in ) Tj ET Q q 0 0 0 rg BT 547.04 282.10 Td ( ) Tj ET Q q 0 0 0 rg BT 549.19 282.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.18 270.10 Td (and ) Tj ET Q q 0 0 0 rg BT 104.31 270.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 144.78 270.10 Td (results ) Tj ET Q q 0 0 0 rg BT 173.58 270.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.06 270.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.06 270.10 Td ( ) Tj ET Q q 0 0 0 rg BT 206.76 270.10 Td (and ) Tj ET Q q 0 0 0 rg BT 223.89 270.10 Td (beyond, ) Tj ET Q q 0 0 0 rg BT 258.53 270.10 Td (including ) Tj ET Q q 0 0 0 rg BT 299.00 270.10 Td (investing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.36 270.10 Td ($175.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.25 270.10 Td ( ) Tj ET Q q 0 0 0 rg BT 399.95 270.10 Td (in ) Tj ET Q q 0 0 0 rg BT 410.43 270.10 Td (land ) Tj ET Q q 0 0 0 rg BT 430.34 270.10 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 480.81 270.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.95 270.10 Td ($88.6 ) Tj ET Q q 0 0 0 rg BT 523.15 270.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.04 270.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.74 270.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.10 Td (land ) Tj ET Q q 0 0 0 rg BT 69.76 258.10 Td (development ) Tj ET Q q 0 0 0 rg BT 124.45 258.10 Td (to ) Tj ET Q q 0 0 0 rg BT 135.27 258.10 Td (help ) Tj ET Q q 0 0 0 rg BT 155.53 258.10 Td (grow ) Tj ET Q q 0 0 0 rg BT 179.12 258.10 Td (our ) Tj ET Q q 0 0 0 rg BT 195.49 258.10 Td (presence ) Tj ET Q q 0 0 0 rg BT 233.51 258.10 Td (in ) Tj ET Q q 0 0 0 rg BT 244.33 258.10 Td (our ) Tj ET Q q 0 0 0 rg BT 260.70 258.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 295.40 258.10 Td (markets. ) Tj ET Q q 0 0 0 rg BT 332.60 258.10 Td ( ) Tj ET Q q 0 0 0 rg BT 335.42 258.10 Td (W) Tj ET Q q 0 0 0 rg BT 344.06 258.10 Td (e ) Tj ET Q q 0 0 0 rg BT 351.54 258.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 390.67 258.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 427.03 258.10 Td (that ) Tj ET Q q 0 0 0 rg BT 445.07 258.10 Td (we ) Tj ET Q q 0 0 0 rg BT 459.77 258.10 Td (will ) Tj ET Q q 0 0 0 rg BT 478.37 258.10 Td (spend ) Tj ET Q q 0 0 0 rg BT 504.74 258.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.10 Td ($575million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.89 246.10 Td ( ) Tj ET Q q 0 0 0 rg BT 103.11 246.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.12 246.10 Td ($625million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.51 246.10 Td ( ) Tj ET Q q 0 0 0 rg BT 166.73 246.10 Td (on ) Tj ET Q q 0 0 0 rg BT 178.95 246.10 Td (land ) Tj ET Q q 0 0 0 rg BT 198.39 246.10 Td (purchases ) Tj ET Q q 0 0 0 rg BT 240.05 246.10 Td (and ) Tj ET Q q 0 0 0 rg BT 256.71 246.10 Td (land ) Tj ET Q q 0 0 0 rg BT 276.15 246.10 Td (development ) Tj ET Q q 0 0 0 rg BT 330.02 246.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.02 246.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.02 246.10 Td (, ) Tj ET Q q 0 0 0 rg BT 364.75 246.10 Td (including ) Tj ET Q q 0 0 0 rg BT 404.74 246.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.18 246.10 Td ($263.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.07 246.10 Td ( ) Tj ET Q q 0 0 0 rg BT 480.30 246.10 Td (spent ) Tj ET Q q 0 0 0 rg BT 503.63 246.10 Td (during ) Tj ET Q q 0 0 0 rg BT 531.96 246.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.40 246.10 Td (first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.10 Td (six ) Tj ET Q q 0 0 0 rg BT 63.67 234.10 Td (months ) Tj ET Q q 0 0 0 rg BT 95.61 234.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.44 234.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.44 234.10 Td (. ) Tj ET Q q 0 0 0 rg BT 131.43 234.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.93 234.10 Td (However) Tj ET Q q 0 0 0 rg BT 170.18 234.10 Td (, ) Tj ET Q q 0 0 0 rg BT 175.18 234.10 Td (land ) Tj ET Q q 0 0 0 rg BT 194.89 234.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 245.15 234.10 Td (are ) Tj ET Q q 0 0 0 rg BT 259.85 234.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 290.68 234.10 Td (to ) Tj ET Q q 0 0 0 rg BT 300.95 234.10 Td (a ) Tj ET Q q 0 0 0 rg BT 307.89 234.10 Td (number ) Tj ET Q q 0 0 0 rg BT 340.93 234.10 Td (of ) Tj ET Q q 0 0 0 rg BT 351.76 234.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 383.96 234.10 Td (including ) Tj ET Q q 0 0 0 rg BT 424.23 234.10 Td (our ) Tj ET Q q 0 0 0 rg BT 440.06 234.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 477.53 234.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 517.80 234.10 Td (and ) Tj ET Q q 0 0 0 rg BT 534.74 234.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 95.22 222.10 Td (as ) Tj ET Q q 0 0 0 rg BT 105.11 222.10 Td (well ) Tj ET Q q 0 0 0 rg BT 123.88 222.10 Td (as ) Tj ET Q q 0 0 0 rg BT 133.77 222.10 Td (satisfaction ) Tj ET Q q 0 0 0 rg BT 180.87 222.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.76 222.10 Td (various ) Tj ET Q q 0 0 0 rg BT 221.76 222.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 264.98 222.10 Td (related ) Tj ET Q q 0 0 0 rg BT 293.74 222.10 Td (to ) Tj ET Q q 0 0 0 rg BT 303.07 222.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 335.73 222.10 Td (properties. ) Tj ET Q q 0 0 0 rg BT 379.77 222.10 Td ( ) Tj ET Q q 0 0 0 rg BT 381.21 222.10 Td (W) Tj ET Q q 0 0 0 rg BT 389.85 222.10 Td (e ) Tj ET Q q 0 0 0 rg BT 395.85 222.10 Td (will ) Tj ET Q q 0 0 0 rg BT 412.96 222.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 448.95 222.10 Td (to ) Tj ET Q q 0 0 0 rg BT 458.29 222.10 Td (monitor ) Tj ET Q q 0 0 0 rg BT 491.51 222.10 Td (market ) Tj ET Q q 0 0 0 rg BT 520.83 222.10 Td (conditions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.02 210.10 Td (our ) Tj ET Q q 0 0 0 rg BT 81.42 210.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 116.28 210.10 Td (pace ) Tj ET Q q 0 0 0 rg BT 136.67 210.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.08 210.10 Td (home ) Tj ET Q q 0 0 0 rg BT 171.38 210.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 192.89 210.10 Td (and ) Tj ET Q q 0 0 0 rg BT 209.41 210.10 Td (deliveries, ) Tj ET Q q 0 0 0 rg BT 252.86 210.10 Td (and ) Tj ET Q q 0 0 0 rg BT 269.37 210.10 Td (we ) Tj ET Q q 0 0 0 rg BT 283.11 210.10 Td (will ) Tj ET Q q 0 0 0 rg BT 300.75 210.10 Td (adjust ) Tj ET Q q 0 0 0 rg BT 326.71 210.10 Td (our ) Tj ET Q q 0 0 0 rg BT 342.12 210.10 Td (land ) Tj ET Q q 0 0 0 rg BT 361.41 210.10 Td (spending ) Tj ET Q q 0 0 0 rg BT 399.60 210.10 Td (accordingly) Tj ET Q q 0 0 0 rg BT 446.15 210.10 Td (. ) Tj ET Q q 0 0 0 rg BT 450.73 210.10 Td ( ) Tj ET Q q 0 0 0 rg BT 452.66 210.10 Td (W) Tj ET Q q 0 0 0 rg BT 461.29 210.10 Td (e ) Tj ET Q q 0 0 0 rg BT 467.81 210.10 Td (opened ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.76 210.10 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.76 210.10 Td ( ) Tj ET Q q 0 0 0 rg BT 510.84 210.10 Td (communities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.09 198.10 Td (closed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.79 198.10 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.79 198.10 Td ( ) Tj ET Q q 0 0 0 rg BT 105.94 198.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 159.75 198.10 Td (in ) Tj ET Q q 0 0 0 rg BT 169.69 198.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.05 198.10 Td (first ) Tj ET Q q 0 0 0 rg BT 202.32 198.10 Td (half ) Tj ET Q q 0 0 0 rg BT 220.01 198.10 Td (of ) Tj ET Q q 0 0 0 rg BT 230.50 198.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.50 198.10 Td (, ) Tj ET Q q 0 0 0 rg BT 255.15 198.10 Td (ending ) Tj ET Q q 0 0 0 rg BT 284.52 198.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.89 198.10 Td (first ) Tj ET Q q 0 0 0 rg BT 317.15 198.10 Td (six ) Tj ET Q q 0 0 0 rg BT 330.97 198.10 Td (months ) Tj ET Q q 0 0 0 rg BT 362.57 198.10 Td (of ) Tj ET Q q 0 0 0 rg BT 373.05 198.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.05 198.10 Td ( ) Tj ET Q q 0 0 0 rg BT 395.21 198.10 Td (with ) Tj ET Q q 0 0 0 rg BT 415.14 198.10 Td (a ) Tj ET Q q 0 0 0 rg BT 421.73 198.10 Td (total ) Tj ET Q q 0 0 0 rg BT 441.65 198.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.14 198.10 Td (209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.14 198.10 Td ( ) Tj ET Q q 0 0 0 rg BT 469.29 198.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 523.10 198.10 Td (compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.78 186.10 Td (187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.78 186.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.28 186.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 131.44 186.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.16 186.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 176.99 186.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.99 186.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (Going ) Tj ET Q q 0 0 0 rg BT 77.06 164.10 Td (forward, ) Tj ET Q q 0 0 0 rg BT 113.76 164.10 Td (we ) Tj ET Q q 0 0 0 rg BT 127.98 164.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 159.41 164.10 Td (our ) Tj ET Q q 0 0 0 rg BT 175.29 164.10 Td (abilities ) Tj ET Q q 0 0 0 rg BT 209.51 164.10 Td (to ) Tj ET Q q 0 0 0 rg BT 219.84 164.10 Td (leverage ) Tj ET Q q 0 0 0 rg BT 256.26 164.10 Td (our ) Tj ET Q q 0 0 0 rg BT 272.15 164.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 295.25 164.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 320.31 164.10 Td (obtain ) Tj ET Q q 0 0 0 rg BT 347.86 164.10 Td (land ) Tj ET Q q 0 0 0 rg BT 367.63 164.10 Td (at ) Tj ET Q q 0 0 0 rg BT 377.41 164.10 Td (desired ) Tj ET Q q 0 0 0 rg BT 408.84 164.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 430.27 164.10 Td (of ) Tj ET Q q 0 0 0 rg BT 441.16 164.10 Td (return, ) Tj ET Q q 0 0 0 rg BT 470.09 164.10 Td (and ) Tj ET Q q 0 0 0 rg BT 487.09 164.10 Td (open ) Tj ET Q q 0 0 0 rg BT 509.08 164.10 Td (and ) Tj ET Q q 0 0 0 rg BT 526.07 164.10 Td (grow ) Tj ET Q q 0 0 0 rg BT 549.18 164.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (active ) Tj ET Q q 0 0 0 rg BT 76.01 152.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 130.30 152.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 163.48 152.10 Td (our ) Tj ET Q q 0 0 0 rg BT 179.45 152.10 Td (best ) Tj ET Q q 0 0 0 rg BT 198.19 152.10 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 253.60 152.10 Td (for ) Tj ET Q q 0 0 0 rg BT 267.89 152.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 313.30 152.10 Td (to ) Tj ET Q q 0 0 0 rg BT 323.71 152.10 Td (improve ) Tj ET Q q 0 0 0 rg BT 359.67 152.10 Td (our ) Tj ET Q q 0 0 0 rg BT 375.64 152.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 413.25 152.10 Td (results. ) Tj ET Q q 0 0 0 rg BT 444.49 152.10 Td ( ) Tj ET Q q 0 0 0 rg BT 447.13 152.10 Td (However) Tj ET Q q 0 0 0 rg BT 483.38 152.10 Td (, ) Tj ET Q q 0 0 0 rg BT 488.51 152.10 Td (we ) Tj ET Q q 0 0 0 rg BT 502.81 152.10 Td (can ) Tj ET Q q 0 0 0 rg BT 519.32 152.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 552.50 152.10 Td (no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (assurance ) Tj ET Q q 0 0 0 rg BT 90.87 140.10 Td (that ) Tj ET Q q 0 0 0 rg BT 108.36 140.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.08 140.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 157.24 140.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 184.18 140.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 221.65 140.10 Td (in ) Tj ET Q q 0 0 0 rg BT 231.93 140.10 Td (our ) Tj ET Q q 0 0 0 rg BT 247.76 140.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 285.24 140.10 Td (and ) Tj ET Q q 0 0 0 rg BT 302.18 140.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 342.44 140.10 Td (metrics ) Tj ET Q q 0 0 0 rg BT 374.38 140.10 Td (will ) Tj ET Q q 0 0 0 rg BT 392.43 140.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 429.37 140.10 Td (in ) Tj ET Q q 0 0 0 rg BT 439.65 140.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.36 140.10 Td (future. ) Tj ET Q endstream endobj 73 0 obj <>] /Rotate 0 /Contents 74 0 R>> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.16 740.10 Td (following ) Tj ET Q q 0 0 0 rg BT 110.15 740.10 Td (table ) Tj ET Q q 0 0 0 rg BT 132.70 740.10 Td (shows, ) Tj ET Q q 0 0 0 rg BT 163.31 740.10 Td (by ) Tj ET Q q 0 0 0 rg BT 176.42 740.10 Td (segment: ) Tj ET Q q 0 0 0 rg BT 215.64 740.10 Td (revenue; ) Tj ET Q q 0 0 0 rg BT 253.17 740.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 277.40 740.10 Td (mar) Tj ET Q q 0 0 0 rg BT 292.76 740.10 Td (gin; ) Tj ET Q q 0 0 0 rg BT 311.43 740.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 343.70 740.10 Td (general ) Tj ET Q q 0 0 0 rg BT 376.24 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 393.79 740.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 454.10 740.10 Td (expense; ) Tj ET Q q 0 0 0 rg BT 492.20 740.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 533.07 740.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (\(loss\); ) Tj ET Q q 0 0 0 rg BT 77.00 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 93.94 728.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 125.87 728.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 160.58 728.10 Td (for ) Tj ET Q q 0 0 0 rg BT 174.74 728.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.46 728.10 Td (three ) Tj ET Q q 0 0 0 rg BT 211.94 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 228.88 728.10 Td (six ) Tj ET Q q 0 0 0 rg BT 243.05 728.10 Td (months ) Tj ET Q q 0 0 0 rg BT 275.00 728.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 301.38 728.10 Td (June ) Tj ET Q q 0 0 0 rg BT 322.21 728.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 337.21 728.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 359.71 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 376.64 728.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.64 728.10 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 704.6 m 376 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 704.6 m 383 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 704.6 m 437 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 704.6 m 447 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 704.6 m 501 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 704.6 m 508 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 704.6 m 562 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 704.6 m 501 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 692.6 m 501 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 704.6 m 508 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 692.6 m 508 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 704.6 m 562 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 692.6 m 562 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 692.6 m 322 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 692.6 m 376 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 692.6 m 383 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 692.6 m 437 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 692.6 m 447 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 692.6 m 501 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 692.6 m 508 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 692.6 m 562 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 632.6 m 383 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 632.6 m 437 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 632.6 m 508 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 632.6 m 562 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 632.6 m 322 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 620.6 m 322 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 632.6 m 376 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 620.6 m 376 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 632.6 m 383 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 620.6 m 383 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 632.6 m 437 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 620.6 m 437 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 632.6 m 447 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 620.6 m 447 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 632.6 m 501 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 620.6 m 501 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 632.6 m 508 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 620.6 m 508 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 632.6 m 562 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 620.6 m 562 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 620.6 m 322 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 620.6 m 376 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 620.6 m 383 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 620.6 m 437 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 620.6 m 447 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 620.6 m 501 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 620.6 m 508 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 620.6 m 562 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 555.6 m 322 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 555.6 m 376 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 555.6 m 383 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 555.6 m 437 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 555.6 m 501 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 555.6 m 508 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 555.6 m 562 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 555.6 m 322 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 543.6 m 322 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 555.6 m 376 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 543.6 m 376 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 555.6 m 383 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 543.6 m 383 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 555.6 m 437 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 543.6 m 437 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 555.6 m 447 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 543.6 m 447 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 555.6 m 501 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 543.6 m 501 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 555.6 m 508 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 543.6 m 508 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 555.6 m 562 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 543.6 m 562 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 466.6 m 322 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 454.6 m 322 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 466.6 m 376 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 454.6 m 376 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 466.6 m 383 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 454.6 m 383 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 466.6 m 437 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 454.6 m 437 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 466.6 m 447 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 454.6 m 447 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 466.6 m 501 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 454.6 m 501 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 466.6 m 508 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 454.6 m 508 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 466.6 m 562 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 454.6 m 562 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 377.6 m 322 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 377.6 m 376 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 377.6 m 383 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 377.6 m 437 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 377.6 m 447 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 377.6 m 501 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 377.6 m 508 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 377.6 m 562 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 377.6 m 322 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 365.6 m 322 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 377.6 m 376 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 365.6 m 376 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 377.6 m 383 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 365.6 m 383 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 377.6 m 437 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 365.6 m 437 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 377.6 m 447 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 365.6 m 447 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 377.6 m 501 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 365.6 m 501 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 377.6 m 508 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 365.6 m 508 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 377.6 m 562 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 365.6 m 562 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 365.6 m 322 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 365.6 m 376 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 365.6 m 383 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 365.6 m 437 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 365.6 m 447 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 365.6 m 501 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 365.6 m 508 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 365.6 m 562 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 300.6 m 322 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 300.6 m 376 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 300.6 m 383 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 300.6 m 437 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 300.6 m 447 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 300.6 m 501 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 300.6 m 508 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 300.6 m 562 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 300.6 m 322 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 288.6 m 322 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 300.6 m 376 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 288.6 m 376 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 300.6 m 383 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 288.6 m 383 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 300.6 m 437 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 288.6 m 437 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 300.6 m 447 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 288.6 m 447 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 300.6 m 501 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 288.6 m 501 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 300.6 m 508 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 288.6 m 508 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 300.6 m 562 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 288.6 m 562 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 288.6 m 322 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 288.6 m 376 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 288.6 m 383 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 288.6 m 437 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 288.6 m 447 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 288.6 m 501 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 288.6 m 508 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 288.6 m 562 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 259.6 m 322 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 259.6 m 376 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 259.6 m 383 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 259.6 m 437 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 259.6 m 447 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 259.6 m 501 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 259.6 m 508 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 259.6 m 562 259.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 240.60000000000002 m 322 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 240.60000000000002 m 376 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 240.60000000000002 m 383 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 240.60000000000002 m 437 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 240.60000000000002 m 447 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 240.60000000000002 m 501 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 240.60000000000002 m 508 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 240.60000000000002 m 562 240.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.35 708.83 Td (Thr) Tj ET Q q 0 0 0 rg BT 340.61 708.83 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.20 708.83 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 696.55 Td (\(In ) Tj ET Q q 0 0 0 rg BT 62.83 696.55 Td (thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.50 696.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.50 696.55 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.50 696.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.50 696.55 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 684.68 Td (Revenue:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 672.55 Td (Midwest homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 672.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 672.68 Td (226,902) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 672.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 672.55 Td (168,469) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 672.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 672.68 Td (385,522) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 672.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 672.55 Td (314,891) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 660.55 Td (Southern homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 660.68 Td (237,582) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 660.55 Td (178,780) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 660.68 Td (427,970) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 660.55 Td (328,145) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 648.55 Td (Mid-Atlantic homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 648.68 Td (81,738) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 648.55 Td (97,749) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 648.68 Td (155,561) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 648.55 Td (194,635) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 636.55 Td (Financial services ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 117.04 640.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 636.68 Td (1) Tj ET Q q 0 0 0 rg BT 354.75 636.68 Td (1,876) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 636.55 Td (1) Tj ET Q q 0 0 0 rg BT 415.75 636.55 Td (1,868) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 636.68 Td (26,902) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 636.55 Td (26,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 624.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 624.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 624.55 Td (revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 624.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 624.68 Td (558,098) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 624.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 624.55 Td (456,866) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 624.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 624.68 Td (995,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 624.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 624.55 Td (863,846) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 607.68 Td (Gr) Tj ET Q q 0 0 0 rg BT 61.20 607.68 Td (oss ) Tj ET Q q 0 0 0 rg BT 73.36 607.68 Td (margin:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 595.55 Td (Midwest homebuilding) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 131.94 599.18 Td ( \(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 595.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 595.68 Td (38,713) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 595.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 595.55 Td (33,799) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 595.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 595.68 Td (66,422) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 595.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 595.55 Td (63,020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 583.55 Td (Southern homebuilding ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 134.83 587.18 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 583.68 Td (44,585) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 583.55 Td (24,865) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 583.68 Td (80,357) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 583.55 Td (51,479) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 571.55 Td (Mid-Atlantic homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 571.68 Td (13,588) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 571.55 Td (18,736) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 571.68 Td (24,236) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 571.55 Td (35,293) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 559.55 Td (Financial services ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 117.04 563.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 559.68 Td (1) Tj ET Q q 0 0 0 rg BT 354.75 559.68 Td (1,876) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 559.55 Td (1) Tj ET Q q 0 0 0 rg BT 415.75 559.55 Td (1,868) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 559.68 Td (26,902) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 559.55 Td (26,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 547.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 547.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 547.55 Td (gross ) Tj ET Q q 0 0 0 rg BT 88.71 547.55 Td (mar) Tj ET Q q 0 0 0 rg BT 101.01 547.55 Td (gin ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 113.23 551.18 Td (\(b\) ) Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 120.59 551.18 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 547.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 547.68 Td (108,762) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 547.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 547.55 Td (89,268) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 547.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 547.68 Td (197,917) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 547.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 547.55 Td (175,967) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 530.68 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 78.62 530.68 Td (general ) Tj ET Q q 0 0 0 rg BT 105.94 530.68 Td (and ) Tj ET Q q 0 0 0 rg BT 120.84 530.68 Td (administrative ) Tj ET Q q 0 0 0 rg BT 172.61 530.68 Td (expense:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 518.55 Td (Midwest homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 518.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 518.68 Td (19,732) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 518.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 518.55 Td (15,815) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 518.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 518.68 Td (35,224) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 518.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 518.55 Td (30,177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 506.55 Td (Southern homebuilding ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 134.83 510.18 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 506.68 Td (25,215) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 506.55 Td (20,156) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 506.68 Td (46,137) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 506.55 Td (38,058) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 494.55 Td (Mid-Atlantic homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 494.68 Td (8,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 494.55 Td (9,148) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 494.68 Td (16,538) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 494.55 Td (18,452) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 482.55 Td (Financial services ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 117.04 486.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 482.68 Td (5,938) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 482.55 Td (5,008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 482.68 Td (1) Tj ET Q q 0 0 0 rg BT 479.75 482.68 Td (1,424) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 482.55 Td (10,085) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 470.55 Td (Corporate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 470.68 Td (10,890) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 470.55 Td (10,232) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 470.68 Td (18,948) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 470.55 Td (18,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 458.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 458.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 458.55 Td (selling, ) Tj ET Q q 0 0 0 rg BT 95.16 458.55 Td (general ) Tj ET Q q 0 0 0 rg BT 120.70 458.55 Td (and ) Tj ET Q q 0 0 0 rg BT 134.25 458.55 Td (administrative ) Tj ET Q q 0 0 0 rg BT 182.01 458.55 Td (expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 458.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 458.68 Td (70,257) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 458.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 458.55 Td (60,359) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 458.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 458.68 Td (128,271) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 458.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 458.55 Td (1) Tj ET Q q 0 0 0 rg BT 536.75 458.55 Td (15,402) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 441.68 Td (Operating ) Tj ET Q q 0 0 0 rg BT 88.61 441.68 Td (income ) Tj ET Q q 0 0 0 rg BT 115.05 441.68 Td (\(loss\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 429.55 Td (Midwest homebuilding ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 133.94 433.18 Td (\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 429.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 429.68 Td (18,981) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 429.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 429.55 Td (17,984) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 429.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 429.68 Td (31,198) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 429.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 429.55 Td (32,843) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 417.55 Td (Southern homebuilding ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 134.83 421.18 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 417.68 Td (19,370) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 417.55 Td (4,709) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 417.68 Td (34,220) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 417.55 Td (13,421) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 405.55 Td (Mid-Atlantic homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 405.68 Td (5,106) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 405.55 Td (9,588) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 405.68 Td (7,698) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 405.55 Td (16,841) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 393.55 Td (Financial services) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 115.04 397.18 Td ( \(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 393.68 Td (5,938) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 393.55 Td (6,860) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 393.68 Td (15,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 393.55 Td (16,090) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 381.55 Td (Less: Corporate selling, general and administrative expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.10 381.68 Td (\(10,890) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 381.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.10 381.55 Td (\(10,232) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.80 381.55 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.10 381.68 Td (\(18,948) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 381.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.10 381.55 Td (\(18,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 381.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 369.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 369.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 369.55 Td (operating ) Tj ET Q q 0 0 0 rg BT 102.04 369.55 Td (income ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 127.58 373.18 Td (\(b\) ) Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 134.94 373.18 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 369.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 369.68 Td (38,505) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 369.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 369.55 Td (28,909) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 369.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 369.68 Td (69,646) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 369.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 369.55 Td (60,565) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 352.68 Td (Inter) Tj ET Q q 0 0 0 rg BT 68.68 352.68 Td (est ) Tj ET Q q 0 0 0 rg BT 80.01 352.68 Td (expense:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 340.55 Td (Midwest homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 340.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 340.68 Td (1,812) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 340.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 340.55 Td (863) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 340.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 340.68 Td (3,878) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 340.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 340.55 Td (2,240) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 328.55 Td (Southern homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 328.68 Td (1,908) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 328.55 Td (1,791) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 328.68 Td (4,195) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 328.55 Td (4,168) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 316.55 Td (Mid-Atlantic homebuilding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 316.68 Td (473) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 316.55 Td (515) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 316.68 Td (1,229) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 316.55 Td (1,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 304.55 Td (Financial services ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 117.04 308.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 304.68 Td (695) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 304.55 Td (665) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 304.68 Td (1,464) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 304.55 Td (1,333) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 292.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.11 292.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 292.55 Td (interest ) Tj ET Q q 0 0 0 rg BT 95.37 292.55 Td (expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 292.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 292.68 Td (4,888) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 292.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 292.55 Td (3,834) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 292.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 292.68 Td (10,766) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 292.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 292.55 Td (9,172) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 275.55 Td (Equity in loss \(income\) of joint venture arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 275.68 Td (86) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.10 275.55 Td (\(1) Tj ET Q q 0 0 0 rg BT 425.76 275.55 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.80 275.55 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 483.10 275.68 Td (\(224) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 497.80 275.68 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.10 275.55 Td (\(127) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 275.55 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 263.55 Td (Acquisition and integration costs ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 159.04 267.18 Td (\(d\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 263.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 263.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 263.68 Td (1,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 263.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 244.55 Td (Income ) Tj ET Q q 0 0 0 rg BT 77.49 244.55 Td (before ) Tj ET Q q 0 0 0 rg BT 99.92 244.55 Td (income ) Tj ET Q q 0 0 0 rg BT 125.46 244.55 Td (taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 244.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 244.68 Td (33,531) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 244.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 244.55 Td (25,185) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 244.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 244.68 Td (57,404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 244.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 244.55 Td (51,520) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 225.50 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 225.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 81.89 225.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 111.82 225.50 Td (services ) Tj ET Q q 0 0 0 rg BT 139.53 225.50 Td (operational ) Tj ET Q q 0 0 0 rg BT 177.46 225.50 Td (results ) Tj ET Q q 0 0 0 rg BT 200.30 225.50 Td (should ) Tj ET Q q 0 0 0 rg BT 223.58 225.50 Td (be ) Tj ET Q q 0 0 0 rg BT 233.08 225.50 Td (viewed ) Tj ET Q q 0 0 0 rg BT 258.13 225.50 Td (in ) Tj ET Q q 0 0 0 rg BT 266.30 225.50 Td (connection ) Tj ET Q q 0 0 0 rg BT 303.34 225.50 Td (with ) Tj ET Q q 0 0 0 rg BT 319.51 225.50 Td (our ) Tj ET Q q 0 0 0 rg BT 332.13 225.50 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 378.51 225.50 Td (business ) Tj ET Q q 0 0 0 rg BT 407.57 225.50 Td (as ) Tj ET Q q 0 0 0 rg BT 416.19 225.50 Td (its ) Tj ET Q q 0 0 0 rg BT 425.69 225.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 460.96 225.50 Td (originate ) Tj ET Q q 0 0 0 rg BT 491.34 225.50 Td (loans ) Tj ET Q q 0 0 0 rg BT 510.18 225.50 Td (and ) Tj ET Q q 0 0 0 rg BT 523.68 225.50 Td (provide ) Tj ET Q q 0 0 0 rg BT 550.06 225.50 Td (title ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 215.90 Td (services ) Tj ET Q q 0 0 0 rg BT 95.27 215.90 Td (primarily ) Tj ET Q q 0 0 0 rg BT 127.04 215.90 Td (for ) Tj ET Q q 0 0 0 rg BT 138.36 215.90 Td (our ) Tj ET Q q 0 0 0 rg BT 151.03 215.90 Td (homebuying ) Tj ET Q q 0 0 0 rg BT 193.02 215.90 Td (customers, ) Tj ET Q q 0 0 0 rg BT 229.46 215.90 Td (with ) Tj ET Q q 0 0 0 rg BT 245.68 215.90 Td (the ) Tj ET Q q 0 0 0 rg BT 257.46 215.90 Td (exception ) Tj ET Q q 0 0 0 rg BT 290.55 215.90 Td (of ) Tj ET Q q 0 0 0 rg BT 299.22 215.90 Td (a ) Tj ET Q q 0 0 0 rg BT 304.77 215.90 Td (small ) Tj ET Q q 0 0 0 rg BT 324.10 215.90 Td (amount ) Tj ET Q q 0 0 0 rg BT 350.10 215.90 Td (of ) Tj ET Q q 0 0 0 rg BT 358.76 215.90 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 390.97 215.90 Td (refinancing.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 200.30 Td (\(b\) ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 200.30 Td (Includes ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 96.71 200.30 Td ($3.0million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 134.84 200.30 Td ( ) Tj ET Q q 0 0 0 rg BT 137.63 200.30 Td (and ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 151.67 200.30 Td ($3.9million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 189.81 200.30 Td ( ) Tj ET Q q 0 0 0 rg BT 192.59 200.30 Td (of ) Tj ET Q q 0 0 0 rg BT 201.87 200.30 Td (char) Tj ET Q q 0 0 0 rg BT 215.15 200.30 Td (ges ) Tj ET Q q 0 0 0 rg BT 228.33 200.30 Td (related ) Tj ET Q q 0 0 0 rg BT 252.33 200.30 Td (to ) Tj ET Q q 0 0 0 rg BT 261.19 200.30 Td (purchase ) Tj ET Q q 0 0 0 rg BT 291.69 200.30 Td (accounting ) Tj ET Q q 0 0 0 rg BT 328.69 200.30 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 368.74 200.30 Td (taken ) Tj ET Q q 0 0 0 rg BT 388.41 200.30 Td (during ) Tj ET Q q 0 0 0 rg BT 411.56 200.30 Td (the ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 423.87 200.30 Td (three ) Tj ET Q q 0 0 0 rg BT 442.24 200.30 Td (and ) Tj ET Q q 0 0 0 rg BT 456.29 200.30 Td (six ) Tj ET Q q 0 0 0 rg BT 468.18 200.30 Td (months ) Tj ET Q q 0 0 0 rg BT 493.93 200.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 515.34 200.30 Td (June ) Tj ET Q q 0 0 0 rg BT 532.42 200.30 Td (30, ) Tj ET Q q 0 0 0 rg BT 544.95 200.30 Td (2018) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 560.55 200.30 Td (, ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 190.95 Td (respectively) Tj ET Q q 0 0 0 rg BT 104.67 190.95 Td (, ) Tj ET Q q 0 0 0 rg BT 108.57 190.95 Td (as ) Tj ET Q q 0 0 0 rg BT 117.02 190.95 Td (a ) Tj ET Q q 0 0 0 rg BT 122.43 190.95 Td (result ) Tj ET Q q 0 0 0 rg BT 141.71 190.95 Td (of ) Tj ET Q q 0 0 0 rg BT 150.16 190.95 Td (our ) Tj ET Q q 0 0 0 rg BT 162.51 190.95 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 198.68 190.95 Td (of ) Tj ET Q q 0 0 0 rg BT 207.13 190.95 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 235.94 190.95 Td (Homes ) Tj ET Q q 0 0 0 rg BT 259.99 190.95 Td (in ) Tj ET Q q 0 0 0 rg BT 268.00 190.95 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 294.00 190.95 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 325.84 190.95 Td (on ) Tj ET Q q 0 0 0 rg BT 335.59 190.95 Td (March ) Tj ET Q q 0 0 0 rg BT 357.89 190.95 Td (1, ) Tj ET Q q 0 0 0 rg BT 365.69 190.95 Td (2018. ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 49.50 175.35 Td (\(c\) ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 175.35 Td (Includes ) Tj ET Q q 0 0 0 rg BT 95.75 175.35 Td (an ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 104.94 175.35 Td ($8.5 ) Tj ET Q q 0 0 0 rg BT 120.41 175.35 Td (million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 142.95 175.35 Td ( ) Tj ET Q q 0 0 0 rg BT 144.77 175.35 Td (char) Tj ET Q q 0 0 0 rg BT 158.05 175.35 Td (ge ) Tj ET Q q 0 0 0 rg BT 167.24 175.35 Td (for ) Tj ET Q q 0 0 0 rg BT 178.16 175.35 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 223.73 175.35 Td (repair ) Tj ET Q q 0 0 0 rg BT 243.74 175.35 Td (costs ) Tj ET Q q 0 0 0 rg BT 261.16 175.35 Td (in ) Tj ET Q q 0 0 0 rg BT 269.05 175.35 Td (certain ) Tj ET Q q 0 0 0 rg BT 292.10 175.35 Td (of ) Tj ET Q q 0 0 0 rg BT 300.42 175.35 Td (our ) Tj ET Q q 0 0 0 rg BT 312.64 175.35 Td (Florida ) Tj ET Q q 0 0 0 rg BT 337.00 175.35 Td (communities ) Tj ET Q q 0 0 0 rg BT 379.12 175.35 Td (taken ) Tj ET Q q 0 0 0 rg BT 397.83 175.35 Td (during ) Tj ET Q q 0 0 0 rg BT 420.02 175.35 Td (both ) Tj ET Q q 0 0 0 rg BT 435.71 175.35 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.07 175.35 Td (three ) Tj ET Q q 0 0 0 rg BT 464.93 175.35 Td (and ) Tj ET Q q 0 0 0 rg BT 478.35 175.35 Td (six ) Tj ET Q q 0 0 0 rg BT 489.56 175.35 Td (months ) Tj ET Q q 0 0 0 rg BT 514.99 175.35 Td (ended ) Tj ET Q q 0 0 0 rg BT 535.96 175.35 Td (June ) Tj ET Q q 0 0 0 rg BT 552.50 175.35 Td (30, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 165.75 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 83.50 165.75 Td ( ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 85.50 165.75 Td (\(as ) Tj ET Q q 0 0 0 rg BT 96.54 165.75 Td (more ) Tj ET Q q 0 0 0 rg BT 114.52 165.75 Td (fully ) Tj ET Q q 0 0 0 rg BT 131.20 165.75 Td (discussed ) Tj ET Q q 0 0 0 rg BT 163.05 165.75 Td (in ) Tj ET Q BT /F1 7.80 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.38 w 0 i [] 0 d 1 J 1 j 3 M 171.06494140625 164.71025390625005 m 192.07666015625 164.71025390625005 l s q 0 0 1 rg BT 171.06 165.75 Td (Note ) Tj ET Q q 0 0 1 rg BT 188.18 165.75 Td (6) Tj ET Q BT /F1 7.80 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 192.08 165.75 Td ( ) Tj ET Q q 0 0 0 rg BT 194.03 165.75 Td (to ) Tj ET Q q 0 0 0 rg BT 202.04 165.75 Td (our ) Tj ET Q q 0 0 0 rg BT 214.39 165.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 243.63 165.75 Td (statements\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 150.15 Td (\(d\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 150.15 Td (Represents ) Tj ET Q q 0 0 0 rg BT 104.57 150.15 Td (costs ) Tj ET Q q 0 0 0 rg BT 122.54 150.15 Td (which ) Tj ET Q q 0 0 0 rg BT 144.07 150.15 Td (include, ) Tj ET Q q 0 0 0 rg BT 171.59 150.15 Td (but ) Tj ET Q q 0 0 0 rg BT 183.78 150.15 Td (are ) Tj ET Q q 0 0 0 rg BT 195.52 150.15 Td (not ) Tj ET Q q 0 0 0 rg BT 207.71 150.15 Td (limited ) Tj ET Q q 0 0 0 rg BT 232.35 150.15 Td (to, ) Tj ET Q q 0 0 0 rg BT 242.54 150.15 Td (legal ) Tj ET Q q 0 0 0 rg BT 260.06 150.15 Td (fees ) Tj ET Q q 0 0 0 rg BT 274.91 150.15 Td (and ) Tj ET Q q 0 0 0 rg BT 288.43 150.15 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 321.28 150.15 Td (travel ) Tj ET Q q 0 0 0 rg BT 341.47 150.15 Td (and ) Tj ET Q q 0 0 0 rg BT 354.99 150.15 Td (communication ) Tj ET Q q 0 0 0 rg BT 406.73 150.15 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 439.58 150.15 Td (cost ) Tj ET Q q 0 0 0 rg BT 454.44 150.15 Td (of ) Tj ET Q q 0 0 0 rg BT 463.07 150.15 Td (appraisals, ) Tj ET Q q 0 0 0 rg BT 499.03 150.15 Td (accounting ) Tj ET Q q 0 0 0 rg BT 536.10 150.15 Td (fees ) Tj ET Q q 0 0 0 rg BT 550.95 150.15 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 140.55 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 100.42 140.55 Td (and ) Tj ET Q q 0 0 0 rg BT 114.01 140.55 Td (miscellaneous ) Tj ET Q q 0 0 0 rg BT 161.37 140.55 Td (expenses ) Tj ET Q q 0 0 0 rg BT 192.29 140.55 Td (related ) Tj ET Q q 0 0 0 rg BT 216.10 140.55 Td (to ) Tj ET Q q 0 0 0 rg BT 224.36 140.55 Td (our ) Tj ET Q q 0 0 0 rg BT 237.06 140.55 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 274.21 140.55 Td (of ) Tj ET Q q 0 0 0 rg BT 282.92 140.55 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 312.50 140.55 Td (Homes. ) Tj ET Q q 0 0 0 rg BT 339.21 140.55 Td ( ) Tj ET Q q 0 0 0 rg BT 340.80 140.55 Td (As ) Tj ET Q q 0 0 0 rg BT 351.73 140.55 Td (these ) Tj ET Q q 0 0 0 rg BT 370.21 140.55 Td (costs ) Tj ET Q q 0 0 0 rg BT 388.25 140.55 Td (are ) Tj ET Q q 0 0 0 rg BT 400.06 140.55 Td (not ) Tj ET Q q 0 0 0 rg BT 412.32 140.55 Td (eligible ) Tj ET Q q 0 0 0 rg BT 438.35 140.55 Td (for ) Tj ET Q q 0 0 0 rg BT 449.72 140.55 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 494.85 140.55 Td (as ) Tj ET Q q 0 0 0 rg BT 503.56 140.55 Td (initial ) Tj ET Q q 0 0 0 rg BT 524.26 140.55 Td (direct ) Tj ET Q q 0 0 0 rg BT 544.52 140.55 Td (costs, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 130.95 Td (such ) Tj ET Q q 0 0 0 rg BT 84.16 130.95 Td (amounts ) Tj ET Q q 0 0 0 rg BT 113.27 130.95 Td (are ) Tj ET Q q 0 0 0 rg BT 125.04 130.95 Td (expensed ) Tj ET Q q 0 0 0 rg BT 156.80 130.95 Td (as ) Tj ET Q q 0 0 0 rg BT 165.47 130.95 Td (incurred.) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.55 740.10 Td (following ) Tj ET Q q 0 0 0 rg BT 108.93 740.10 Td (tables ) Tj ET Q q 0 0 0 rg BT 134.76 740.10 Td (show ) Tj ET Q q 0 0 0 rg BT 158.37 740.10 Td (total ) Tj ET Q q 0 0 0 rg BT 178.65 740.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 204.48 740.10 Td (by ) Tj ET Q q 0 0 0 rg BT 216.98 740.10 Td (segment ) Tj ET Q q 0 0 0 rg BT 252.80 740.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.52 740.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 298.35 740.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.35 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 320.85 740.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.79 740.10 Td (December ) Tj ET Q q 0 0 0 rg BT 381.37 740.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 396.37 740.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.37 740.10 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 716.6 m 310 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 716.6 m 321 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 716.6 m 366 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 716.6 m 380 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 716.6 m 425 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 716.6 m 436 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 716.6 m 506 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 716.6 m 517 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 716.6 m 562 716.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 690.6 m 265 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 690.6 m 310 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 690.6 m 321 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 690.6 m 366 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 690.6 m 380 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 690.6 m 425 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 690.6 m 436 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 690.6 m 506 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 690.6 m 517 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 690.6 m 562 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 690.6 m 265 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 690.6 m 310 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 690.6 m 321 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 690.6 m 366 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 690.6 m 380 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 690.6 m 425 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 690.6 m 436 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 690.6 m 506 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 690.6 m 517 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 690.6 m 562 690.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 642.6 m 265 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 642.6 m 310 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 642.6 m 321 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 642.6 m 366 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 642.6 m 380 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 642.6 m 425 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 642.6 m 436 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 642.6 m 506 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 642.6 m 517 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 642.6 m 562 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 642.6 m 265 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 630.6 m 265 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 642.6 m 310 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 630.6 m 310 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 642.6 m 321 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 630.6 m 321 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 642.6 m 366 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 630.6 m 366 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 642.6 m 380 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 630.6 m 380 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 642.6 m 425 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 630.6 m 425 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 642.6 m 436 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 630.6 m 436 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 642.6 m 506 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 630.6 m 506 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 642.6 m 517 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 630.6 m 517 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 642.6 m 562 642.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 630.6 m 562 630.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.55 720.83 Td (At June 30, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 694.85 Td (\(In ) Tj ET Q q 0 0 0 rg BT 62.83 694.85 Td (thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 272.30 694.83 Td (Midwest) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.20 694.83 Td (Southern) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.55 702.83 Td (Mid-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.20 694.83 Td (Atlantic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.70 708.68 Td (Corporate,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.50 700.68 Td (Financial Services) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.60 692.73 Td (and Unallocated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.25 694.83 Td (T) Tj ET Q q 0 0 0 rg BT 534.85 694.83 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 682.55 Td (Deposits ) Tj ET Q q 0 0 0 rg BT 81.50 682.55 Td (on ) Tj ET Q q 0 0 0 rg BT 91.50 682.55 Td (real ) Tj ET Q q 0 0 0 rg BT 105.49 682.55 Td (estate ) Tj ET Q q 0 0 0 rg BT 125.70 682.55 Td (under ) Tj ET Q q 0 0 0 rg BT 145.91 682.55 Td (option ) Tj ET Q q 0 0 0 rg BT 168.36 682.55 Td (or ) Tj ET Q q 0 0 0 rg BT 177.02 682.55 Td (contract) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.50 682.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 288.75 682.68 Td (5,933) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.50 682.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.75 682.68 Td (20,724) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.50 682.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.75 682.68 Td (7,163) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.50 682.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 682.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.50 682.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 682.68 Td (33,820) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 670.55 Td (Inventory ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 84.60 674.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 280.75 670.68 Td (657,154) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.75 670.68 Td (697,404) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.75 670.68 Td (264,090) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 670.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 670.68 Td (1,618,648) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 658.55 Td (Investments ) Tj ET Q q 0 0 0 rg BT 92.16 658.55 Td (in ) Tj ET Q q 0 0 0 rg BT 100.38 658.55 Td (joint ) Tj ET Q q 0 0 0 rg BT 117.05 658.55 Td (venture ) Tj ET Q q 0 0 0 rg BT 143.04 658.55 Td (arrangements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 294.80 658.68 Td (342) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.75 658.68 Td (5,088) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.75 658.68 Td (8,323) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.80 658.68 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.75 658.68 Td (13,753) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 646.55 Td (Other ) Tj ET Q q 0 0 0 rg BT 71.71 646.55 Td (assets ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 284.75 646.68 Td (26,288) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.75 646.68 Td (36,977) Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 368.50 650.96 Td (\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.75 646.68 Td (16,440) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.80 646.68 Td (224,614) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.75 646.68 Td (304,319) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 634.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 634.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 634.55 Td (assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.50 634.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 280.75 634.68 Td (689,717) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.50 634.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.75 634.68 Td (760,193) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.50 634.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.75 634.68 Td (296,016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.50 634.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.80 634.68 Td (224,614) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.50 634.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.75 634.68 Td (1,970,540) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 607.6 m 310 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 607.6 m 321 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 607.6 m 366 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 607.6 m 380 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 607.6 m 425 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 607.6 m 436 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 607.6 m 506 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 607.6 m 517 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 607.6 m 562 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 580.6 m 265 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 580.6 m 310 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 580.6 m 321 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 580.6 m 366 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 580.6 m 380 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 580.6 m 425 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 580.6 m 436 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 580.6 m 506 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 580.6 m 517 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 580.6 m 562 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 580.6 m 265 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 580.6 m 310 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 580.6 m 321 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 580.6 m 366 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 580.6 m 380 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 580.6 m 425 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 580.6 m 436 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 580.6 m 506 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 580.6 m 517 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 580.6 m 562 580.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 531.6 m 265 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 531.6 m 310 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 531.6 m 321 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 531.6 m 366 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 531.6 m 380 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 531.6 m 425 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 531.6 m 436 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 531.6 m 506 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 531.6 m 517 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 531.6 m 562 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 531.6 m 265 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 519.6 m 265 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 531.6 m 310 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 519.6 m 310 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 531.6 m 321 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310 519.6 m 321 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 531.6 m 366 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 519.6 m 366 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 531.6 m 380 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 519.6 m 380 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 531.6 m 425 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 519.6 m 425 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 531.6 m 436 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 519.6 m 436 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 531.6 m 506 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 519.6 m 506 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 531.6 m 517 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 519.6 m 517 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 531.6 m 562 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 519.6 m 562 519.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.55 611.85 Td (At December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 584.85 Td (\(In ) Tj ET Q q 0 0 0 rg BT 62.83 584.85 Td (thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.00 584.85 Td (Midwest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.55 584.85 Td (Southern) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.00 592.85 Td (Mid-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.10 584.85 Td (Atlantic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.50 599.55 Td (Corporate,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.05 591.55 Td (Financial Services) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.40 583.55 Td (and Unallocated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.80 584.85 Td (T) Tj ET Q q 0 0 0 rg BT 535.13 584.85 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 571.85 Td (Deposits ) Tj ET Q q 0 0 0 rg BT 81.50 571.85 Td (on ) Tj ET Q q 0 0 0 rg BT 91.50 571.85 Td (real ) Tj ET Q q 0 0 0 rg BT 105.49 571.85 Td (estate ) Tj ET Q q 0 0 0 rg BT 125.70 571.85 Td (under ) Tj ET Q q 0 0 0 rg BT 145.91 571.85 Td (option ) Tj ET Q q 0 0 0 rg BT 168.36 571.85 Td (or ) Tj ET Q q 0 0 0 rg BT 177.02 571.85 Td (contract) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.50 571.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.75 571.85 Td (4,933) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.50 571.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.75 571.85 Td (20,719) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.50 571.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.75 571.85 Td (6,904) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.50 571.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 571.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.50 571.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 571.85 Td (32,556) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 559.55 Td (Inventory ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 84.60 563.18 Td (\(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.75 559.55 Td (500,671) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.75 559.55 Td (636,019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.75 559.55 Td (245,328) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 559.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 559.55 Td (1,382,018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 547.55 Td (Investments ) Tj ET Q q 0 0 0 rg BT 92.16 547.55 Td (in ) Tj ET Q q 0 0 0 rg BT 100.38 547.55 Td (joint ) Tj ET Q q 0 0 0 rg BT 117.05 547.55 Td (venture ) Tj ET Q q 0 0 0 rg BT 143.04 547.55 Td (arrangements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.75 547.55 Td (4,410) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.75 547.55 Td (9,677) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.75 547.55 Td (6,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.80 547.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 547.55 Td (20,525) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 535.55 Td (Other ) Tj ET Q q 0 0 0 rg BT 71.71 535.55 Td (assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.75 535.55 Td (13,573) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.75 535.55 Td (38,784) Tj ET Q BT /F1 5.20 Tf ET q 0 0 0 rg BT 368.50 539.96 Td (\(b\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.75 535.55 Td (13,31) Tj ET Q q 0 0 0 rg BT 417.75 535.55 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 535.55 Td (364,004) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 535.55 Td (429,672) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 523.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 523.55 Td (otal ) Tj ET Q q 0 0 0 rg BT 69.82 523.55 Td (assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.50 523.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.75 523.55 Td (523,587) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.50 523.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.75 523.55 Td (705,199) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.50 523.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.75 523.55 Td (271,981) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.50 523.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.80 523.55 Td (364,004) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.50 523.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.75 523.55 Td (1,864,771) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 504.50 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 504.50 Td (Inventory ) Tj ET Q q 0 0 0 rg BT 99.73 504.50 Td (includes ) Tj ET Q q 0 0 0 rg BT 127.53 504.50 Td (single-family ) Tj ET Q q 0 0 0 rg BT 171.32 504.50 Td (lots; ) Tj ET Q q 0 0 0 rg BT 186.23 504.50 Td (land ) Tj ET Q q 0 0 0 rg BT 201.14 504.50 Td (and ) Tj ET Q q 0 0 0 rg BT 213.82 504.50 Td (land ) Tj ET Q q 0 0 0 rg BT 228.73 504.50 Td (development ) Tj ET Q q 0 0 0 rg BT 271.18 504.50 Td (costs; ) Tj ET Q q 0 0 0 rg BT 290.54 504.50 Td (land ) Tj ET Q q 0 0 0 rg BT 305.44 504.50 Td (held ) Tj ET Q q 0 0 0 rg BT 320.35 504.50 Td (for ) Tj ET Q q 0 0 0 rg BT 330.81 504.50 Td (sale; ) Tj ET Q q 0 0 0 rg BT 346.60 504.50 Td (homes ) Tj ET Q q 0 0 0 rg BT 368.62 504.50 Td (under ) Tj ET Q q 0 0 0 rg BT 387.97 504.50 Td (construction; ) Tj ET Q q 0 0 0 rg BT 430.87 504.50 Td (model ) Tj ET Q q 0 0 0 rg BT 452.00 504.50 Td (homes ) Tj ET Q q 0 0 0 rg BT 474.02 504.50 Td (and ) Tj ET Q q 0 0 0 rg BT 486.70 504.50 Td (furnishings; ) Tj ET Q q 0 0 0 rg BT 526.06 504.50 Td (community ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 494.90 Td (development ) Tj ET Q q 0 0 0 rg BT 110.82 494.90 Td (district ) Tj ET Q q 0 0 0 rg BT 135.04 494.90 Td (infrastructure; ) Tj ET Q q 0 0 0 rg BT 182.35 494.90 Td (and ) Tj ET Q q 0 0 0 rg BT 195.90 494.90 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 238.34 494.90 Td (inventory ) Tj ET Q q 0 0 0 rg BT 271.00 494.90 Td (not ) Tj ET Q q 0 0 0 rg BT 283.22 494.90 Td (owned.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 479.30 Td (\(b\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 479.30 Td (Includes ) Tj ET Q q 0 0 0 rg BT 96.60 479.30 Td (development ) Tj ET Q q 0 0 0 rg BT 139.92 479.30 Td (reimbursements ) Tj ET Q q 0 0 0 rg BT 193.02 479.30 Td (from ) Tj ET Q q 0 0 0 rg BT 210.57 479.30 Td (local ) Tj ET Q q 0 0 0 rg BT 228.12 479.30 Td (municipalities.) Tj ET Q endstream endobj 77 0 obj <>] /Rotate 0 /Contents 78 0 R>> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (Reportable ) Tj ET Q q 0 0 0 rg BT 99.77 740.25 Td (Segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (The following table presents, by reportable segment, selected operating and financial information as of and for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.07 718.25 Td (three and six ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (months ended June 30, 2018 and 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.09 706.25 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 682.75 m 376 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 682.75 m 383 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 682.75 m 437 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 682.75 m 447 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 682.75 m 501 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 682.75 m 508 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 682.75 m 562 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 671.75 m 322 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 671.75 m 376 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 671.75 m 383 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 671.75 m 437 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 671.75 m 447 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 682.75 m 501 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 671.75 m 501 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 682.75 m 508 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 671.75 m 508 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 682.75 m 562 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 671.75 m 562 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 671.75 m 322 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 671.75 m 376 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 671.75 m 383 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 671.75 m 437 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 671.75 m 447 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 671.75 m 501 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 671.75 m 508 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 671.75 m 562 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 526.75 m 322 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 526.75 m 376 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 526.75 m 383 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 526.75 m 437 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 526.75 m 447 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 526.75 m 501 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 526.75 m 508 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 526.75 m 562 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 526.75 m 322 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 526.75 m 376 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 526.75 m 383 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 526.75 m 437 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 526.75 m 447 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 526.75 m 501 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 526.75 m 508 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 526.75 m 562 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 383.75 m 322 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 383.75 m 376 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 383.75 m 383 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 383.75 m 437 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 383.75 m 447 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 383.75 m 501 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 383.75 m 508 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 383.75 m 562 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 383.75 m 322 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 383.75 m 376 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 383.75 m 383 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 383.75 m 437 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 383.75 m 447 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 383.75 m 501 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 383.75 m 508 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 383.75 m 562 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 240.75 m 322 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 240.75 m 376 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 240.75 m 383 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 240.75 m 437 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 240.75 m 447 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 240.75 m 501 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 240.75 m 508 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 240.75 m 562 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 240.75 m 322 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 240.75 m 376 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 240.75 m 383 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 240.75 m 437 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 240.75 m 447 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 240.75 m 501 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 240.75 m 508 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 240.75 m 562 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 97.75 m 322 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 97.75 m 376 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 97.75 m 383 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 97.75 m 437 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 97.75 m 447 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 97.75 m 501 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 97.75 m 508 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 97.75 m 562 97.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.35 686.98 Td (Thr) Tj ET Q q 0 0 0 rg BT 340.61 686.98 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.20 686.98 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 674.70 Td (\(Dollars in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.50 674.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.50 674.70 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.50 674.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.50 674.70 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 663.83 Td (Midwest Region) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 652.70 Td (Homes delivered) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 652.83 Td (554) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 652.70 Td (437) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 652.83 Td (965) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 652.70 Td (816) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 641.70 Td (New contracts, net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 641.83 Td (656) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 641.70 Td (531) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 641.83 Td (1,354) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 641.70 Td (1,087) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 630.70 Td (Backlog at end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 630.83 Td (1,330) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 630.70 Td (1,028) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 630.83 Td (1,330) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 630.70 Td (1,028) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 619.70 Td (A) Tj ET Q q 0 0 0 rg BT 68.98 619.70 Td (verage sales price of homes delivered) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 619.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 619.83 Td (409) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 619.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 619.70 Td (385) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 619.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 619.83 Td (399) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 619.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 619.70 Td (385) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 608.70 Td (A) Tj ET Q q 0 0 0 rg BT 68.98 608.70 Td (verage sales price of homes in backlog) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 608.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 608.83 Td (420) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 608.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 608.70 Td (401) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 608.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 608.83 Td (420) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 608.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 608.70 Td (401) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 597.70 Td (Aggregate sales value of homes in backlog) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 597.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 597.83 Td (558,040) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 597.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 597.70 Td (412,203) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 597.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 597.83 Td (558,040) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 597.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 597.70 Td (412,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 586.70 Td (Housing revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 586.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 586.83 Td (226,598) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 586.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 586.70 Td (168,305) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 586.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 586.83 Td (385,093) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 586.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 586.70 Td (314,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 575.70 Td (Land sale revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 575.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 575.83 Td (304) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 575.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 575.70 Td (164) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 575.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 575.83 Td (429) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 575.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 575.70 Td (790) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 564.70 Td (Operating income homes ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 145.92 568.33 Td (\(a\) \(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 564.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 564.83 Td (18,891) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 564.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 564.70 Td (17,955) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 564.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 564.83 Td (30,985) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 564.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 564.70 Td (32,556) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 553.70 Td (Operating income land) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 553.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 553.83 Td (90) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 553.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 553.70 Td (29) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 553.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 553.83 Td (213) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 553.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 553.70 Td (287) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 542.00 Td (Number of average active communities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 541.98 Td (85) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 542.00 Td (65) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 541.98 Td (80) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 542.00 Td (64) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 529.70 Td (Number of active communities, end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 529.83 Td (87) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 529.70 Td (66) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 529.83 Td (87) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 529.70 Td (66) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 518.83 Td (Southern Region) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 507.70 Td (Homes delivered) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 507.83 Td (666) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 507.70 Td (520) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 507.83 Td (1,207) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 507.70 Td (939) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 496.70 Td (New contracts, net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 496.83 Td (753) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 496.70 Td (625) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 496.83 Td (1,550) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 496.70 Td (1,215) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 485.70 Td (Backlog at end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 485.83 Td (1,251) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 485.70 Td (950) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 485.83 Td (1,251) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 485.70 Td (950) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 474.70 Td (A) Tj ET Q q 0 0 0 rg BT 68.98 474.70 Td (verage sales price of homes delivered) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 474.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 474.83 Td (357) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 474.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 474.70 Td (344) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 474.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 474.83 Td (354) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 474.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 474.70 Td (346) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 463.70 Td (A) Tj ET Q q 0 0 0 rg BT 68.98 463.70 Td (verage sales price of homes in backlog) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 463.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 463.83 Td (363) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 463.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 463.70 Td (347) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 463.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 463.83 Td (363) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 463.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 463.70 Td (347) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 452.70 Td (Aggregate sales value of homes in backlog) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 452.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 452.83 Td (453,831) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 452.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 452.70 Td (329,940) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 452.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 452.83 Td (453,831) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 452.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 452.70 Td (329,940) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 441.70 Td (Housing revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 441.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 441.83 Td (237,582) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 441.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 441.70 Td (178,779) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 441.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 441.83 Td (427,733) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 441.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 441.70 Td (324,860) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 430.70 Td (Land sale revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 430.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 430.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 430.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.80 430.70 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 430.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 430.83 Td (237) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 430.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 430.70 Td (3,285) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 419.70 Td (Operating income homes ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 145.92 423.33 Td (\(a\) \(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 419.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 419.83 Td (19,393) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 419.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 419.70 Td (4,709) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 419.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 419.83 Td (34,084) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 419.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 419.70 Td (13,310) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 408.70 Td (Operating income land) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 408.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.10 408.83 Td (\(23) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.80 408.83 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 408.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 408.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 408.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 408.83 Td (136) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 408.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 408.70 Td (1) Tj ET Q q 0 0 0 rg BT 550.80 408.70 Td (1) Tj ET Q q 0 0 0 rg BT 554.80 408.70 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 397.70 Td (Number of average active communities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 397.83 Td (93) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 397.70 Td (87) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 397.83 Td (91) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 397.70 Td (84) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 386.70 Td (Number of active communities, end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 386.83 Td (95) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 386.70 Td (87) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 386.83 Td (95) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 386.70 Td (87) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 375.83 Td (Mid-Atlantic Region) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 364.70 Td (Homes delivered) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 364.83 Td (189) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 364.70 Td (254) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 364.83 Td (359) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 364.70 Td (494) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 353.70 Td (New contracts, net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 353.83 Td (222) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 353.70 Td (244) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 353.83 Td (466) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 353.70 Td (552) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 342.70 Td (Backlog at end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 342.83 Td (385) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 342.70 Td (431) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 342.83 Td (385) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 342.70 Td (431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 331.70 Td (A) Tj ET Q q 0 0 0 rg BT 68.98 331.70 Td (verage sales price of homes delivered) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 331.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 331.83 Td (428) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 331.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 331.70 Td (378) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 331.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 331.83 Td (420) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 331.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 331.70 Td (388) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 320.70 Td (A) Tj ET Q q 0 0 0 rg BT 68.98 320.70 Td (verage sales price of homes in backlog) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 320.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 320.83 Td (422) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 320.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 320.70 Td (388) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 320.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 320.83 Td (422) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 320.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 320.70 Td (388) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 309.70 Td (Aggregate sales value of homes in backlog) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 309.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 309.83 Td (162,591) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 309.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 309.70 Td (167,190) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 309.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 309.83 Td (162,591) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 309.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 309.70 Td (167,190) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 298.70 Td (Housing revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 298.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 298.83 Td (80,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 298.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 298.70 Td (96,009) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 298.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 298.83 Td (150,632) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 298.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 298.70 Td (191,590) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 287.70 Td (Land sale revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 287.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 287.83 Td (884) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 287.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 287.70 Td (1,740) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 287.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 287.83 Td (4,929) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 287.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 287.70 Td (3,045) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 276.70 Td (Operating income homes ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 145.92 280.33 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 276.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 276.83 Td (5,091) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 276.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 276.70 Td (9,475) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 276.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 276.83 Td (7,561) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 276.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 276.70 Td (16,721) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 265.70 Td (Operating income land) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 265.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 265.83 Td (15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 265.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 265.70 Td (1) Tj ET Q q 0 0 0 rg BT 425.80 265.70 Td (13) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 265.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 265.83 Td (137) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 265.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 265.70 Td (120) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 254.70 Td (Number of average active communities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 254.83 Td (29) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 254.70 Td (34) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 254.83 Td (30) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 254.70 Td (35) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 243.70 Td (Number of active communities, end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 243.83 Td (27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 243.70 Td (34) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.80 243.83 Td (27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 243.70 Td (34) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 232.83 Td (T) Tj ET Q q 0 0 0 rg BT 56.10 232.83 Td (otal Homebuilding Regions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 221.70 Td (Homes delivered) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 221.83 Td (1,409) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 221.70 Td (1,21) Tj ET Q q 0 0 0 rg BT 429.80 221.70 Td (1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 221.83 Td (2,531) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 221.70 Td (2,249) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 210.70 Td (New contracts, net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 210.83 Td (1,631) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 210.70 Td (1,400) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 210.83 Td (3,370) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 210.70 Td (2,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 199.70 Td (Backlog at end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 199.83 Td (2,966) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 199.70 Td (2,409) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 199.83 Td (2,966) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 199.70 Td (2,409) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 188.70 Td (A) Tj ET Q q 0 0 0 rg BT 68.98 188.70 Td (verage sales price of homes delivered) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 188.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 188.83 Td (387) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 188.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 188.70 Td (366) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 188.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 188.83 Td (381) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 188.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 188.70 Td (369) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 177.70 Td (A) Tj ET Q q 0 0 0 rg BT 68.98 177.70 Td (verage sales price of homes in backlog) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 177.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 177.83 Td (396) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 177.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 177.70 Td (377) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 177.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 177.83 Td (396) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 177.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 177.70 Td (377) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 166.70 Td (Aggregate sales value of homes in backlog) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 166.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.75 166.83 Td (1,174,462) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 166.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 166.70 Td (909,334) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 166.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.75 166.83 Td (1,174,462) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 166.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 166.70 Td (909,334) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 155.70 Td (Housing revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 155.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 155.83 Td (545,034) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 155.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 155.70 Td (443,093) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 155.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 155.83 Td (963,458) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 155.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 155.70 Td (830,551) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 144.70 Td (Land sale revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 144.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 144.83 Td (1,188) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 144.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 144.70 Td (1,905) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 144.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 144.83 Td (5,595) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 144.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 144.70 Td (7,120) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 133.70 Td (Operating income homes ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 145.92 137.33 Td (\(a\) \(b\) \(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 133.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 133.83 Td (43,375) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 133.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 133.70 Td (32,139) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 133.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 133.83 Td (72,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 133.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 133.70 Td (62,587) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 122.70 Td (Operating income land) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 122.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.80 122.83 Td (82) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 122.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 122.70 Td (142) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 122.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 122.83 Td (486) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 122.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 122.70 Td (518) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 111.70 Td (Number of average active communities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 111.83 Td (207) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 111.70 Td (186) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 111.83 Td (201) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 111.70 Td (183) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 100.70 Td (Number of active communities, end of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 100.83 Td (209) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 100.70 Td (187) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.80 100.83 Td (209) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 100.70 Td (187) Tj ET Q BT /F1 10.00 Tf ET BT /F1 7.80 Tf ET q 0 0 0 rg BT 49.50 85.90 Td (\(a\) ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 85.90 Td (Includes ) Tj ET Q q 0 0 0 rg BT 95.36 85.90 Td (the ) Tj ET Q q 0 0 0 rg BT 106.33 85.90 Td (ef) Tj ET Q q 0 0 0 rg BT 112.25 85.90 Td (fect ) Tj ET Q q 0 0 0 rg BT 125.38 85.90 Td (of ) Tj ET Q q 0 0 0 rg BT 133.31 85.90 Td (total ) Tj ET Q q 0 0 0 rg BT 148.61 85.90 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 193.38 85.90 Td (selling, ) Tj ET Q q 0 0 0 rg BT 217.57 85.90 Td (general ) Tj ET Q q 0 0 0 rg BT 241.96 85.90 Td (and ) Tj ET Q q 0 0 0 rg BT 254.66 85.90 Td (administrative ) Tj ET Q q 0 0 0 rg BT 300.72 85.90 Td (expense ) Tj ET Q q 0 0 0 rg BT 327.28 85.90 Td (for ) Tj ET Q q 0 0 0 rg BT 337.81 85.90 Td (the ) Tj ET Q q 0 0 0 rg BT 348.78 85.90 Td (region ) Tj ET Q q 0 0 0 rg BT 370.14 85.90 Td (as ) Tj ET Q q 0 0 0 rg BT 378.08 85.90 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 408.54 85.90 Td (in ) Tj ET Q q 0 0 0 rg BT 416.05 85.90 Td (the ) Tj ET Q q 0 0 0 rg BT 427.02 85.90 Td (first ) Tj ET Q q 0 0 0 rg BT 441.02 85.90 Td (table ) Tj ET Q q 0 0 0 rg BT 457.62 85.90 Td (set ) Tj ET Q q 0 0 0 rg BT 467.72 85.90 Td (forth ) Tj ET Q q 0 0 0 rg BT 484.32 85.90 Td (in ) Tj ET Q q 0 0 0 rg BT 491.83 85.90 Td (this ) Tj ET Q q 0 0 0 rg BT 504.53 85.90 Td (Outlook ) Tj ET Q q 0 0 0 rg BT 538.46 85.90 Td (section.) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 49.50 76.55 Td (\(b\) ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 76.55 Td (Includes ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 96.71 76.55 Td ($3.0million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 134.84 76.55 Td ( ) Tj ET Q q 0 0 0 rg BT 137.63 76.55 Td (and ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 151.67 76.55 Td ($3.9million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 189.81 76.55 Td ( ) Tj ET Q q 0 0 0 rg BT 192.59 76.55 Td (of ) Tj ET Q q 0 0 0 rg BT 201.87 76.55 Td (char) Tj ET Q q 0 0 0 rg BT 215.15 76.55 Td (ges ) Tj ET Q q 0 0 0 rg BT 228.33 76.55 Td (related ) Tj ET Q q 0 0 0 rg BT 252.33 76.55 Td (to ) Tj ET Q q 0 0 0 rg BT 261.19 76.55 Td (purchase ) Tj ET Q q 0 0 0 rg BT 291.69 76.55 Td (accounting ) Tj ET Q q 0 0 0 rg BT 328.69 76.55 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 368.74 76.55 Td (taken ) Tj ET Q q 0 0 0 rg BT 388.41 76.55 Td (during ) Tj ET Q q 0 0 0 rg BT 411.56 76.55 Td (the ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 423.87 76.55 Td (three ) Tj ET Q q 0 0 0 rg BT 442.24 76.55 Td (and ) Tj ET Q q 0 0 0 rg BT 456.29 76.55 Td (six ) Tj ET Q q 0 0 0 rg BT 468.18 76.55 Td (months ) Tj ET Q q 0 0 0 rg BT 493.93 76.55 Td (ended ) Tj ET Q q 0 0 0 rg BT 515.34 76.55 Td (June ) Tj ET Q q 0 0 0 rg BT 532.42 76.55 Td (30, ) Tj ET Q q 0 0 0 rg BT 544.95 76.55 Td (2018) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 560.55 76.55 Td (, ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 67.15 Td (respectively) Tj ET Q q 0 0 0 rg BT 104.67 67.15 Td (, ) Tj ET Q q 0 0 0 rg BT 108.57 67.15 Td (as ) Tj ET Q q 0 0 0 rg BT 117.02 67.15 Td (a ) Tj ET Q q 0 0 0 rg BT 122.43 67.15 Td (result ) Tj ET Q q 0 0 0 rg BT 141.71 67.15 Td (of ) Tj ET Q q 0 0 0 rg BT 150.16 67.15 Td (our ) Tj ET Q q 0 0 0 rg BT 162.51 67.15 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 198.68 67.15 Td (of ) Tj ET Q q 0 0 0 rg BT 207.13 67.15 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 235.94 67.15 Td (Homes ) Tj ET Q q 0 0 0 rg BT 259.99 67.15 Td (in ) Tj ET Q q 0 0 0 rg BT 268.00 67.15 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 294.00 67.15 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 325.84 67.15 Td (on ) Tj ET Q q 0 0 0 rg BT 335.59 67.15 Td (March ) Tj ET Q q 0 0 0 rg BT 357.89 67.15 Td (1, ) Tj ET Q q 0 0 0 rg BT 365.69 67.15 Td (2018. ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 49.50 57.55 Td (\(c\) ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 57.55 Td (Includes ) Tj ET Q q 0 0 0 rg BT 95.75 57.55 Td (an ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 104.94 57.55 Td ($8.5 ) Tj ET Q q 0 0 0 rg BT 120.41 57.55 Td (million) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 142.95 57.55 Td ( ) Tj ET Q q 0 0 0 rg BT 144.77 57.55 Td (char) Tj ET Q q 0 0 0 rg BT 158.05 57.55 Td (ge ) Tj ET Q q 0 0 0 rg BT 167.24 57.55 Td (for ) Tj ET Q q 0 0 0 rg BT 178.16 57.55 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 223.73 57.55 Td (repair ) Tj ET Q q 0 0 0 rg BT 243.74 57.55 Td (costs ) Tj ET Q q 0 0 0 rg BT 261.16 57.55 Td (in ) Tj ET Q q 0 0 0 rg BT 269.05 57.55 Td (certain ) Tj ET Q q 0 0 0 rg BT 292.10 57.55 Td (of ) Tj ET Q q 0 0 0 rg BT 300.42 57.55 Td (our ) Tj ET Q q 0 0 0 rg BT 312.64 57.55 Td (Florida ) Tj ET Q q 0 0 0 rg BT 337.00 57.55 Td (communities ) Tj ET Q q 0 0 0 rg BT 379.12 57.55 Td (taken ) Tj ET Q q 0 0 0 rg BT 397.83 57.55 Td (during ) Tj ET Q q 0 0 0 rg BT 420.02 57.55 Td (both ) Tj ET Q q 0 0 0 rg BT 435.71 57.55 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.07 57.55 Td (three ) Tj ET Q q 0 0 0 rg BT 464.93 57.55 Td (and ) Tj ET Q q 0 0 0 rg BT 478.35 57.55 Td (six ) Tj ET Q q 0 0 0 rg BT 489.56 57.55 Td (months ) Tj ET Q q 0 0 0 rg BT 514.99 57.55 Td (ended ) Tj ET Q q 0 0 0 rg BT 535.96 57.55 Td (June ) Tj ET Q q 0 0 0 rg BT 552.50 57.55 Td (30, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 47.95 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 83.50 47.95 Td ( ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 85.50 47.95 Td (\(as ) Tj ET Q q 0 0 0 rg BT 96.54 47.95 Td (more ) Tj ET Q q 0 0 0 rg BT 114.52 47.95 Td (fully ) Tj ET Q q 0 0 0 rg BT 131.20 47.95 Td (discussed ) Tj ET Q q 0 0 0 rg BT 163.05 47.95 Td (in ) Tj ET Q BT /F1 7.80 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.38 w 0 i [] 0 d 1 J 1 j 3 M 171.06494140625 46.91025390625009 m 192.07666015625 46.91025390625009 l s q 0 0 1 rg BT 171.06 47.95 Td (Note ) Tj ET Q q 0 0 1 rg BT 188.18 47.95 Td (6) Tj ET Q BT /F1 7.80 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 192.08 47.95 Td ( ) Tj ET Q q 0 0 0 rg BT 194.03 47.95 Td (to ) Tj ET Q q 0 0 0 rg BT 202.04 47.95 Td (our ) Tj ET Q q 0 0 0 rg BT 214.39 47.95 Td (financial ) Tj ET Q q 0 0 0 rg BT 243.63 47.95 Td (statements\).) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (39) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 733.5 m 376 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 733.5 m 383 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 733.5 m 437 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 733.5 m 447 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 733.5 m 501 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 733.5 m 508 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 733.5 m 562 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 720.5 m 322 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 720.5 m 376 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 720.5 m 383 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 720.5 m 437 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 720.5 m 447 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 733.5 m 501 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 720.5 m 501 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 733.5 m 508 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 720.5 m 508 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 733.5 m 562 733.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 720.5 m 562 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 720.5 m 322 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 720.5 m 376 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 720.5 m 383 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 720.5 m 437 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 720.5 m 447 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 720.5 m 501 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 720.5 m 508 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 720.5 m 562 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 638.5 m 376 638.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 638.5 m 383 638.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 638.5 m 437 638.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 638.5 m 447 638.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 638.5 m 501 638.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 638.5 m 508 638.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 638.5 m 562 638.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 638.5 m 322 638.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 621.5 m 322 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 621.5 m 376 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 621.5 m 383 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 621.5 m 437 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 621.5 m 447 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 621.5 m 501 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 621.5 m 508 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 621.5 m 562 621.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.35 737.73 Td (Thr) Tj ET Q q 0 0 0 rg BT 340.61 737.73 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.20 737.73 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 724.75 Td (\(Dollars in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.50 724.73 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.50 724.75 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.50 724.73 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.50 724.75 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 711.73 Td (Financial Services) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 698.75 Td (Number of loans originated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 698.73 Td (930) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 698.75 Td (840) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 698.73 Td (1,71) Tj ET Q q 0 0 0 rg BT 493.80 698.73 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 698.75 Td (1,565) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 685.75 Td (V) Tj ET Q q 0 0 0 rg BT 68.83 685.75 Td (alue of loans originated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 685.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.75 685.73 Td (284,320) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 685.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 685.75 Td (251,486) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 685.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.75 685.73 Td (519,802) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 685.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 685.75 Td (468,832) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 668.75 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 668.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.75 668.73 Td (1) Tj ET Q q 0 0 0 rg BT 354.75 668.73 Td (1,876) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 668.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 668.75 Td (1) Tj ET Q q 0 0 0 rg BT 415.75 668.75 Td (1,868) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 668.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 668.73 Td (26,902) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 668.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 668.75 Td (26,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 69.50 655.75 Td (Less: Selling, general and administrative expenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 655.73 Td (5,938) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 655.75 Td (5,008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 655.73 Td (1) Tj ET Q q 0 0 0 rg BT 479.75 655.73 Td (1,424) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 655.75 Td (10,085) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 69.50 642.75 Td (Less: Interest expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 642.73 Td (695) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 642.75 Td (665) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.80 642.73 Td (1,464) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 642.75 Td (1,333) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 625.75 Td (Income before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 625.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.80 625.73 Td (5,243) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 625.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 625.75 Td (6,195) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 625.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.75 625.73 Td (14,014) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 625.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 625.75 Td (14,757) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.00 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 598.00 Td ( ) Tj ET Q q 0 0 0 rg BT 59.10 598.00 Td (home ) Tj ET Q q 0 0 0 rg BT 84.25 598.00 Td (is ) Tj ET Q q 0 0 0 rg BT 93.85 598.00 Td (included ) Tj ET Q q 0 0 0 rg BT 131.21 598.00 Td (in ) Tj ET Q q 0 0 0 rg BT 141.92 598.00 Td (new ) Tj ET Q q 0 0 0 rg BT 165.95 598.00 Td (contracts ) Tj ET Q q 0 0 0 rg BT 209.42 598.00 Td (when ) Tj ET Q q 0 0 0 rg BT 234.01 598.00 Td (our ) Tj ET Q q 0 0 0 rg BT 250.27 598.00 Td (standard ) Tj ET Q q 0 0 0 rg BT 287.08 598.00 Td (sales ) Tj ET Q q 0 0 0 rg BT 309.45 598.00 Td (contract ) Tj ET Q q 0 0 0 rg BT 344.58 598.00 Td (is ) Tj ET Q q 0 0 0 rg BT 354.18 598.00 Td (executed. ) Tj ET Q q 0 0 0 rg BT 395.15 598.00 Td ( ) Tj ET Q q 0 0 0 rg BT 398.08 598.00 Td (Homes ) Tj ET Q q 0 0 0 rg BT 433.78 598.00 Td (delivered ) Tj ET Q q 0 0 0 rg BT 478.35 598.00 Td (represents ) Tj ET Q q 0 0 0 rg BT 521.82 598.00 Td (homes ) Tj ET Q q 0 0 0 rg BT 550.86 598.00 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 586.00 Td (which ) Tj ET Q q 0 0 0 rg BT 76.32 586.00 Td (the ) Tj ET Q q 0 0 0 rg BT 90.92 586.00 Td (closing ) Tj ET Q q 0 0 0 rg BT 122.19 586.00 Td (of ) Tj ET Q q 0 0 0 rg BT 132.90 586.00 Td (the ) Tj ET Q q 0 0 0 rg BT 147.50 586.00 Td (sale ) Tj ET Q q 0 0 0 rg BT 165.43 586.00 Td (has ) Tj ET Q q 0 0 0 rg BT 181.15 586.00 Td (occurred. ) Tj ET Q q 0 0 0 rg BT 221.00 586.00 Td ( ) Tj ET Q q 0 0 0 rg BT 223.39 586.00 Td (Backlog ) Tj ET Q q 0 0 0 rg BT 267.97 586.00 Td (represents ) Tj ET Q q 0 0 0 rg BT 310.89 586.00 Td (homes ) Tj ET Q q 0 0 0 rg BT 339.38 586.00 Td (for ) Tj ET Q q 0 0 0 rg BT 353.43 586.00 Td (which ) Tj ET Q q 0 0 0 rg BT 380.25 586.00 Td (the ) Tj ET Q q 0 0 0 rg BT 394.85 586.00 Td (standard ) Tj ET Q q 0 0 0 rg BT 431.11 586.00 Td (sales ) Tj ET Q q 0 0 0 rg BT 452.93 586.00 Td (contract ) Tj ET Q q 0 0 0 rg BT 487.51 586.00 Td (has ) Tj ET Q q 0 0 0 rg BT 503.23 586.00 Td (been ) Tj ET Q q 0 0 0 rg BT 524.49 586.00 Td (executed, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 574.00 Td (but ) Tj ET Q q 0 0 0 rg BT 64.64 574.00 Td (which ) Tj ET Q q 0 0 0 rg BT 91.44 574.00 Td (are ) Tj ET Q q 0 0 0 rg BT 106.01 574.00 Td (not ) Tj ET Q q 0 0 0 rg BT 121.15 574.00 Td (included ) Tj ET Q q 0 0 0 rg BT 157.94 574.00 Td (in ) Tj ET Q q 0 0 0 rg BT 168.08 574.00 Td (homes ) Tj ET Q q 0 0 0 rg BT 196.55 574.00 Td (delivered ) Tj ET Q q 0 0 0 rg BT 236.11 574.00 Td (because ) Tj ET Q q 0 0 0 rg BT 270.12 574.00 Td (closings ) Tj ET Q q 0 0 0 rg BT 305.26 574.00 Td (for ) Tj ET Q q 0 0 0 rg BT 319.28 574.00 Td (these ) Tj ET Q q 0 0 0 rg BT 342.19 574.00 Td (homes ) Tj ET Q q 0 0 0 rg BT 370.65 574.00 Td (have ) Tj ET Q q 0 0 0 rg BT 391.89 574.00 Td (not ) Tj ET Q q 0 0 0 rg BT 407.03 574.00 Td (yet ) Tj ET Q q 0 0 0 rg BT 421.61 574.00 Td (occurred ) Tj ET Q q 0 0 0 rg BT 458.95 574.00 Td (as ) Tj ET Q q 0 0 0 rg BT 469.64 574.00 Td (of ) Tj ET Q q 0 0 0 rg BT 480.33 574.00 Td (the ) Tj ET Q q 0 0 0 rg BT 494.91 574.00 Td (end ) Tj ET Q q 0 0 0 rg BT 511.70 574.00 Td (of ) Tj ET Q q 0 0 0 rg BT 522.40 574.00 Td (the ) Tj ET Q q 0 0 0 rg BT 536.97 574.00 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 562.00 Td (specified.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 540.00 Td (The ) Tj ET Q q 0 0 0 rg BT 67.29 540.00 Td (composition ) Tj ET Q q 0 0 0 rg BT 118.97 540.00 Td (of ) Tj ET Q q 0 0 0 rg BT 129.54 540.00 Td (our ) Tj ET Q q 0 0 0 rg BT 145.11 540.00 Td (homes ) Tj ET Q q 0 0 0 rg BT 173.46 540.00 Td (delivered, ) Tj ET Q q 0 0 0 rg BT 215.40 540.00 Td (new ) Tj ET Q q 0 0 0 rg BT 234.30 540.00 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 275.14 540.00 Td (net ) Tj ET Q q 0 0 0 rg BT 289.59 540.00 Td (and ) Tj ET Q q 0 0 0 rg BT 306.27 540.00 Td (backlog ) Tj ET Q q 0 0 0 rg BT 340.17 540.00 Td (is ) Tj ET Q q 0 0 0 rg BT 349.08 540.00 Td (constantly ) Tj ET Q q 0 0 0 rg BT 392.42 540.00 Td (changing ) Tj ET Q q 0 0 0 rg BT 431.32 540.00 Td (and ) Tj ET Q q 0 0 0 rg BT 448.00 540.00 Td (may ) Tj ET Q q 0 0 0 rg BT 467.45 540.00 Td (be ) Tj ET Q q 0 0 0 rg BT 479.13 540.00 Td (based ) Tj ET Q q 0 0 0 rg BT 504.14 540.00 Td (on ) Tj ET Q q 0 0 0 rg BT 516.38 540.00 Td (a ) Tj ET Q q 0 0 0 rg BT 523.06 540.00 Td (dissimilar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 528.00 Td (mix ) Tj ET Q q 0 0 0 rg BT 67.66 528.00 Td (of ) Tj ET Q q 0 0 0 rg BT 78.59 528.00 Td (communities ) Tj ET Q q 0 0 0 rg BT 132.85 528.00 Td (between ) Tj ET Q q 0 0 0 rg BT 168.77 528.00 Td (periods ) Tj ET Q q 0 0 0 rg BT 200.81 528.00 Td (as ) Tj ET Q q 0 0 0 rg BT 211.74 528.00 Td (new ) Tj ET Q q 0 0 0 rg BT 231.00 528.00 Td (communities ) Tj ET Q q 0 0 0 rg BT 285.26 528.00 Td (open ) Tj ET Q q 0 0 0 rg BT 307.30 528.00 Td (and ) Tj ET Q q 0 0 0 rg BT 324.34 528.00 Td (existing ) Tj ET Q q 0 0 0 rg BT 358.61 528.00 Td (communities ) Tj ET Q q 0 0 0 rg BT 412.87 528.00 Td (wind ) Tj ET Q q 0 0 0 rg BT 435.47 528.00 Td (down. ) Tj ET Q q 0 0 0 rg BT 462.80 528.00 Td ( ) Tj ET Q q 0 0 0 rg BT 465.40 528.00 Td (Further) Tj ET Q q 0 0 0 rg BT 494.44 528.00 Td (, ) Tj ET Q q 0 0 0 rg BT 499.54 528.00 Td (home ) Tj ET Q q 0 0 0 rg BT 524.36 528.00 Td (types ) Tj ET Q q 0 0 0 rg BT 548.07 528.00 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 516.00 Td (individual ) Tj ET Q q 0 0 0 rg BT 92.49 516.00 Td (homes ) Tj ET Q q 0 0 0 rg BT 121.04 516.00 Td (within ) Tj ET Q q 0 0 0 rg BT 149.03 516.00 Td (a ) Tj ET Q q 0 0 0 rg BT 155.91 516.00 Td (community ) Tj ET Q q 0 0 0 rg BT 203.90 516.00 Td (can ) Tj ET Q q 0 0 0 rg BT 220.21 516.00 Td (range ) Tj ET Q q 0 0 0 rg BT 244.86 516.00 Td (significantly ) Tj ET Q q 0 0 0 rg BT 297.29 516.00 Td (in ) Tj ET Q q 0 0 0 rg BT 307.50 516.00 Td (price ) Tj ET Q q 0 0 0 rg BT 329.92 516.00 Td (due ) Tj ET Q q 0 0 0 rg BT 346.80 516.00 Td (to ) Tj ET Q q 0 0 0 rg BT 357.02 516.00 Td (dif) Tj ET Q q 0 0 0 rg BT 367.95 516.00 Td (fering ) Tj ET Q q 0 0 0 rg BT 394.26 516.00 Td (square ) Tj ET Q q 0 0 0 rg BT 422.80 516.00 Td (footage, ) Tj ET Q q 0 0 0 rg BT 457.72 516.00 Td (option ) Tj ET Q q 0 0 0 rg BT 485.71 516.00 Td (selections, ) Tj ET Q q 0 0 0 rg BT 530.09 516.00 Td (lot ) Tj ET Q q 0 0 0 rg BT 543.08 516.00 Td (sizes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 504.00 Td (and ) Tj ET Q q 0 0 0 rg BT 66.05 504.00 Td (quality ) Tj ET Q q 0 0 0 rg BT 95.93 504.00 Td (and ) Tj ET Q q 0 0 0 rg BT 112.48 504.00 Td (location ) Tj ET Q q 0 0 0 rg BT 146.81 504.00 Td (of ) Tj ET Q q 0 0 0 rg BT 157.25 504.00 Td (lots. ) Tj ET Q q 0 0 0 rg BT 176.31 504.00 Td ( ) Tj ET Q q 0 0 0 rg BT 178.26 504.00 Td (These ) Tj ET Q q 0 0 0 rg BT 204.25 504.00 Td (variations ) Tj ET Q q 0 0 0 rg BT 245.80 504.00 Td (may ) Tj ET Q q 0 0 0 rg BT 265.12 504.00 Td (result ) Tj ET Q q 0 0 0 rg BT 289.45 504.00 Td (in ) Tj ET Q q 0 0 0 rg BT 299.34 504.00 Td (a ) Tj ET Q q 0 0 0 rg BT 305.89 504.00 Td (lack ) Tj ET Q q 0 0 0 rg BT 324.66 504.00 Td (of ) Tj ET Q q 0 0 0 rg BT 335.10 504.00 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 382.75 504.00 Td (comparability ) Tj ET Q q 0 0 0 rg BT 440.40 504.00 Td (between ) Tj ET Q q 0 0 0 rg BT 475.82 504.00 Td (homes ) Tj ET Q q 0 0 0 rg BT 504.04 504.00 Td (delivered, ) Tj ET Q q 0 0 0 rg BT 545.86 504.00 Td (new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 492.00 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 90.59 492.00 Td (net ) Tj ET Q q 0 0 0 rg BT 105.31 492.00 Td (and ) Tj ET Q q 0 0 0 rg BT 122.25 492.00 Td (backlog ) Tj ET Q q 0 0 0 rg BT 156.40 492.00 Td (due ) Tj ET Q q 0 0 0 rg BT 173.34 492.00 Td (to ) Tj ET Q q 0 0 0 rg BT 183.62 492.00 Td (the ) Tj ET Q q 0 0 0 rg BT 198.34 492.00 Td (changing ) Tj ET Q q 0 0 0 rg BT 237.49 492.00 Td (mix ) Tj ET Q q 0 0 0 rg BT 255.55 492.00 Td (between ) Tj ET Q q 0 0 0 rg BT 291.37 492.00 Td (periods.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 470.00 Td (Cancellation ) Tj ET Q q 0 0 0 rg BT 105.89 470.00 Td (Rates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 448.00 Td (The ) Tj ET Q q 0 0 0 rg BT 67.93 448.00 Td (following ) Tj ET Q q 0 0 0 rg BT 109.69 448.00 Td (table ) Tj ET Q q 0 0 0 rg BT 132.01 448.00 Td (sets ) Tj ET Q q 0 0 0 rg BT 149.89 448.00 Td (forth ) Tj ET Q q 0 0 0 rg BT 172.21 448.00 Td (the ) Tj ET Q q 0 0 0 rg BT 187.30 448.00 Td (cancellation ) Tj ET Q q 0 0 0 rg BT 238.49 448.00 Td (rates ) Tj ET Q q 0 0 0 rg BT 260.24 448.00 Td (for ) Tj ET Q q 0 0 0 rg BT 274.78 448.00 Td (each ) Tj ET Q q 0 0 0 rg BT 295.98 448.00 Td (of ) Tj ET Q q 0 0 0 rg BT 307.19 448.00 Td (our ) Tj ET Q q 0 0 0 rg BT 323.40 448.00 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 381.83 448.00 Td (segments ) Tj ET Q q 0 0 0 rg BT 421.93 448.00 Td (for ) Tj ET Q q 0 0 0 rg BT 436.47 448.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.56 448.00 Td (three ) Tj ET Q q 0 0 0 rg BT 474.43 448.00 Td (and ) Tj ET Q q 0 0 0 rg BT 491.75 448.00 Td (six ) Tj ET Q q 0 0 0 rg BT 506.30 448.00 Td (months ) Tj ET Q q 0 0 0 rg BT 538.63 448.00 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 436.00 Td (June ) Tj ET Q q 0 0 0 rg BT 70.33 436.00 Td (30, ) Tj ET Q q 0 0 0 rg BT 85.33 436.00 Td (2018 ) Tj ET Q q 0 0 0 rg BT 107.83 436.00 Td (and ) Tj ET Q q 0 0 0 rg BT 124.77 436.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.77 436.00 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 412.5 m 376 412.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 412.5 m 383 412.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 412.5 m 437 412.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 412.5 m 447 412.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 412.5 m 501 412.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 412.5 m 508 412.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 412.5 m 562 412.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 400.5 m 322 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 400.5 m 376 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 400.5 m 383 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 400.5 m 437 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 400.5 m 447 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 400.5 m 501 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 400.5 m 508 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 400.5 m 562 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 400.5 m 322 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 400.5 m 376 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 400.5 m 383 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 400.5 m 437 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 400.5 m 447 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 400.5 m 501 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 400.5 m 508 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 400.5 m 562 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 364.5 m 322 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 364.5 m 376 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 364.5 m 383 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 364.5 m 437 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 364.5 m 447 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 364.5 m 501 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 364.5 m 508 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 364.5 m 562 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 348.5 m 322 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 348.5 m 376 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 348.5 m 383 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 348.5 m 437 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 348.5 m 447 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 348.5 m 501 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 348.5 m 508 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 348.5 m 562 348.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.35 416.73 Td (Thr) Tj ET Q q 0 0 0 rg BT 340.61 416.73 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.20 416.73 Td (Six Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.50 404.58 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.50 404.45 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.50 404.58 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.50 404.45 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 392.45 Td (Midwest) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.15 392.58 Td (13.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.45 392.58 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.15 392.45 Td (9.5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.75 392.45 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 392.58 Td (1) Tj ET Q q 0 0 0 rg BT 482.15 392.58 Td (1.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.45 392.58 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.15 392.45 Td (1) Tj ET Q q 0 0 0 rg BT 543.15 392.45 Td (1.5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 392.45 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 380.45 Td (Southern) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.15 380.58 Td (15.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.45 380.58 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.15 380.45 Td (17.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.75 380.45 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 380.58 Td (14.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.45 380.58 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.15 380.45 Td (16.7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 380.45 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 368.45 Td (Mid-Atlantic) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.15 368.58 Td (9.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.45 368.58 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.15 368.45 Td (10.9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.75 368.45 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 368.58 Td (10.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.45 368.58 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.15 368.45 Td (10.7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 368.45 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 352.45 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 352.45 Td (otal cancellation rate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.15 352.58 Td (13.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.45 352.58 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.15 352.45 Td (13.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.75 352.45 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.15 352.58 Td (12.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.45 352.58 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.15 352.45 Td (13.6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 352.45 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 325.00 Td (Seasonality) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 303.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.91 303.00 Td (ypically) Tj ET Q q 0 0 0 rg BT 86.47 303.00 Td (, ) Tj ET Q q 0 0 0 rg BT 92.91 303.00 Td (our ) Tj ET Q q 0 0 0 rg BT 110.18 303.00 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 169.67 303.00 Td (operations ) Tj ET Q q 0 0 0 rg BT 215.26 303.00 Td (experience ) Tj ET Q q 0 0 0 rg BT 262.50 303.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 308.64 303.00 Td (seasonality ) Tj ET Q q 0 0 0 rg BT 357.02 303.00 Td (and ) Tj ET Q q 0 0 0 rg BT 375.39 303.00 Td (quarter) Tj ET Q q 0 0 0 rg BT 403.51 303.00 Td (-to-quarter ) Tj ET Q q 0 0 0 rg BT 450.20 303.00 Td (variability ) Tj ET Q q 0 0 0 rg BT 495.23 303.00 Td (in ) Tj ET Q q 0 0 0 rg BT 506.95 303.00 Td (homebuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 291.00 Td (activity ) Tj ET Q q 0 0 0 rg BT 82.11 291.00 Td (levels. ) Tj ET Q q 0 0 0 rg BT 110.55 291.00 Td ( ) Tj ET Q q 0 0 0 rg BT 113.17 291.00 Td (In ) Tj ET Q q 0 0 0 rg BT 124.12 291.00 Td (general, ) Tj ET Q q 0 0 0 rg BT 158.67 291.00 Td (homes ) Tj ET Q q 0 0 0 rg BT 187.40 291.00 Td (delivered ) Tj ET Q q 0 0 0 rg BT 227.22 291.00 Td (increase ) Tj ET Q q 0 0 0 rg BT 262.59 291.00 Td (substantially ) Tj ET Q q 0 0 0 rg BT 315.76 291.00 Td (in ) Tj ET Q q 0 0 0 rg BT 326.16 291.00 Td (the ) Tj ET Q q 0 0 0 rg BT 341.00 291.00 Td (second ) Tj ET Q q 0 0 0 rg BT 371.38 291.00 Td (half ) Tj ET Q q 0 0 0 rg BT 389.55 291.00 Td (of ) Tj ET Q q 0 0 0 rg BT 400.50 291.00 Td (the ) Tj ET Q q 0 0 0 rg BT 415.34 291.00 Td (year ) Tj ET Q q 0 0 0 rg BT 435.16 291.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 477.21 291.00 Td (to ) Tj ET Q q 0 0 0 rg BT 487.61 291.00 Td (the ) Tj ET Q q 0 0 0 rg BT 502.44 291.00 Td (first ) Tj ET Q q 0 0 0 rg BT 521.17 291.00 Td (half ) Tj ET Q q 0 0 0 rg BT 539.34 291.00 Td (of ) Tj ET Q q 0 0 0 rg BT 550.29 291.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 279.00 Td (year) Tj ET Q q 0 0 0 rg BT 66.16 279.00 Td (. ) Tj ET Q q 0 0 0 rg BT 71.20 279.00 Td ( ) Tj ET Q q 0 0 0 rg BT 73.56 279.00 Td (W) Tj ET Q q 0 0 0 rg BT 82.20 279.00 Td (e ) Tj ET Q q 0 0 0 rg BT 89.18 279.00 Td (believe ) Tj ET Q q 0 0 0 rg BT 120.60 279.00 Td (that ) Tj ET Q q 0 0 0 rg BT 138.14 279.00 Td (this ) Tj ET Q q 0 0 0 rg BT 155.14 279.00 Td (seasonality ) Tj ET Q q 0 0 0 rg BT 202.11 279.00 Td (reflects ) Tj ET Q q 0 0 0 rg BT 234.08 279.00 Td (the ) Tj ET Q q 0 0 0 rg BT 248.85 279.00 Td (tendency ) Tj ET Q q 0 0 0 rg BT 287.48 279.00 Td (of ) Tj ET Q q 0 0 0 rg BT 298.36 279.00 Td (homebuyers ) Tj ET Q q 0 0 0 rg BT 349.78 279.00 Td (to ) Tj ET Q q 0 0 0 rg BT 360.11 279.00 Td (shop ) Tj ET Q q 0 0 0 rg BT 381.54 279.00 Td (for ) Tj ET Q q 0 0 0 rg BT 395.75 279.00 Td (a ) Tj ET Q q 0 0 0 rg BT 402.73 279.00 Td (new ) Tj ET Q q 0 0 0 rg BT 421.94 279.00 Td (home ) Tj ET Q q 0 0 0 rg BT 446.70 279.00 Td (in ) Tj ET Q q 0 0 0 rg BT 457.02 279.00 Td (the ) Tj ET Q q 0 0 0 rg BT 471.79 279.00 Td (spring ) Tj ET Q q 0 0 0 rg BT 499.33 279.00 Td (with ) Tj ET Q q 0 0 0 rg BT 519.66 279.00 Td (the ) Tj ET Q q 0 0 0 rg BT 534.42 279.00 Td (goal ) Tj ET Q q 0 0 0 rg BT 554.18 279.00 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 267.00 Td (closing ) Tj ET Q q 0 0 0 rg BT 80.59 267.00 Td (in ) Tj ET Q q 0 0 0 rg BT 90.58 267.00 Td (the ) Tj ET Q q 0 0 0 rg BT 105.00 267.00 Td (fall ) Tj ET Q q 0 0 0 rg BT 120.53 267.00 Td (or ) Tj ET Q q 0 0 0 rg BT 131.07 267.00 Td (winter) Tj ET Q q 0 0 0 rg BT 156.21 267.00 Td (, ) Tj ET Q q 0 0 0 rg BT 160.92 267.00 Td (as ) Tj ET Q q 0 0 0 rg BT 171.46 267.00 Td (well ) Tj ET Q q 0 0 0 rg BT 190.88 267.00 Td (as ) Tj ET Q q 0 0 0 rg BT 201.42 267.00 Td (the ) Tj ET Q q 0 0 0 rg BT 215.84 267.00 Td (scheduling ) Tj ET Q q 0 0 0 rg BT 261.37 267.00 Td (of ) Tj ET Q q 0 0 0 rg BT 271.91 267.00 Td (construction ) Tj ET Q q 0 0 0 rg BT 323.54 267.00 Td (to ) Tj ET Q q 0 0 0 rg BT 333.53 267.00 Td (accommodate ) Tj ET Q q 0 0 0 rg BT 391.26 267.00 Td (seasonal ) Tj ET Q q 0 0 0 rg BT 427.35 267.00 Td (weather ) Tj ET Q q 0 0 0 rg BT 461.20 267.00 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 507.57 267.00 Td ( ) Tj ET Q q 0 0 0 rg BT 509.77 267.00 Td (Our ) Tj ET Q q 0 0 0 rg BT 527.53 267.00 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 255.00 Td (services ) Tj ET Q q 0 0 0 rg BT 82.98 255.00 Td (operations ) Tj ET Q q 0 0 0 rg BT 125.91 255.00 Td (also ) Tj ET Q q 0 0 0 rg BT 143.29 255.00 Td (experience ) Tj ET Q q 0 0 0 rg BT 187.87 255.00 Td (seasonality ) Tj ET Q q 0 0 0 rg BT 233.57 255.00 Td (because ) Tj ET Q q 0 0 0 rg BT 266.49 255.00 Td (loan ) Tj ET Q q 0 0 0 rg BT 284.98 255.00 Td (originations ) Tj ET Q q 0 0 0 rg BT 334.03 255.00 Td (correspond ) Tj ET Q q 0 0 0 rg BT 379.73 255.00 Td (with ) Tj ET Q q 0 0 0 rg BT 398.78 255.00 Td (the ) Tj ET Q q 0 0 0 rg BT 412.27 255.00 Td (delivery ) Tj ET Q q 0 0 0 rg BT 446.31 255.00 Td (of ) Tj ET Q q 0 0 0 rg BT 455.91 255.00 Td (homes ) Tj ET Q q 0 0 0 rg BT 483.29 255.00 Td (in ) Tj ET Q q 0 0 0 rg BT 492.35 255.00 Td (our ) Tj ET Q q 0 0 0 rg BT 506.95 255.00 Td (homebuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 243.00 Td (operations.) Tj ET Q endstream endobj 81 0 obj <>] /Rotate 0 /Contents 82 0 R>> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 98.39 740.25 Td ( Financial Measur) Tj ET Q q 0 0 0 rg BT 175.98 740.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (This ) Tj ET Q q 0 0 0 rg BT 69.65 718.25 Td (report ) Tj ET Q q 0 0 0 rg BT 95.89 718.25 Td (contains ) Tj ET Q q 0 0 0 rg BT 131.58 718.25 Td (information ) Tj ET Q q 0 0 0 rg BT 181.17 718.25 Td (about ) Tj ET Q q 0 0 0 rg BT 205.75 718.25 Td (our ) Tj ET Q q 0 0 0 rg BT 221.45 718.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 257.14 718.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 291.18 718.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 314.66 718.25 Td (mar) Tj ET Q q 0 0 0 rg BT 330.03 718.25 Td (gin, ) Tj ET Q q 0 0 0 rg BT 347.67 718.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 383.37 718.25 Td (income ) Tj ET Q q 0 0 0 rg BT 415.17 718.25 Td (before ) Tj ET Q q 0 0 0 rg BT 443.07 718.25 Td (income ) Tj ET Q q 0 0 0 rg BT 474.88 718.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 497.79 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 514.60 718.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 550.29 718.25 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (income ) Tj ET Q q 0 0 0 rg BT 81.78 706.25 Td (available ) Tj ET Q q 0 0 0 rg BT 120.71 706.25 Td (to ) Tj ET Q q 0 0 0 rg BT 131.33 706.25 Td (common ) Tj ET Q q 0 0 0 rg BT 169.16 706.25 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 218.65 706.25 Td (each ) Tj ET Q q 0 0 0 rg BT 239.81 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 250.98 706.25 Td (which ) Tj ET Q q 0 0 0 rg BT 278.26 706.25 Td (constitutes ) Tj ET Q q 0 0 0 rg BT 323.88 706.25 Td (a ) Tj ET Q q 0 0 0 rg BT 331.16 706.25 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 376.34 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 379.18 706.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 417.00 706.25 Td (measure. ) Tj ET Q q 0 0 0 rg BT 455.66 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 458.50 706.25 Td (Because ) Tj ET Q q 0 0 0 rg BT 494.66 706.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 530.83 706.25 Td (housing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 72.89 694.25 Td (mar) Tj ET Q q 0 0 0 rg BT 88.25 694.25 Td (gin, ) Tj ET Q q 0 0 0 rg BT 105.80 694.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 141.40 694.25 Td (income ) Tj ET Q q 0 0 0 rg BT 173.11 694.25 Td (before ) Tj ET Q q 0 0 0 rg BT 200.92 694.25 Td (income ) Tj ET Q q 0 0 0 rg BT 232.63 694.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 255.44 694.25 Td (and ) Tj ET Q q 0 0 0 rg BT 272.16 694.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 307.75 694.25 Td (net ) Tj ET Q q 0 0 0 rg BT 322.24 694.25 Td (income ) Tj ET Q q 0 0 0 rg BT 353.95 694.25 Td (available ) Tj ET Q q 0 0 0 rg BT 392.31 694.25 Td (to ) Tj ET Q q 0 0 0 rg BT 402.36 694.25 Td (common ) Tj ET Q q 0 0 0 rg BT 439.63 694.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 492.44 694.25 Td (are ) Tj ET Q q 0 0 0 rg BT 506.92 694.25 Td (not ) Tj ET Q q 0 0 0 rg BT 521.97 694.25 Td (calculated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.47 682.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 106.63 682.25 Td (with ) Tj ET Q q 0 0 0 rg BT 126.61 682.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 152.72 682.25 Td (, ) Tj ET Q q 0 0 0 rg BT 157.42 682.25 Td (these ) Tj ET Q q 0 0 0 rg BT 180.16 682.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 217.34 682.25 Td (measures ) Tj ET Q q 0 0 0 rg BT 256.74 682.25 Td (may ) Tj ET Q q 0 0 0 rg BT 276.16 682.25 Td (not ) Tj ET Q q 0 0 0 rg BT 291.13 682.25 Td (be ) Tj ET Q q 0 0 0 rg BT 302.77 682.25 Td (completely ) Tj ET Q q 0 0 0 rg BT 349.39 682.25 Td (comparable ) Tj ET Q q 0 0 0 rg BT 398.23 682.25 Td (to ) Tj ET Q q 0 0 0 rg BT 408.20 682.25 Td (similarly-titled ) Tj ET Q q 0 0 0 rg BT 469.83 682.25 Td (measures ) Tj ET Q q 0 0 0 rg BT 509.24 682.25 Td (used ) Tj ET Q q 0 0 0 rg BT 529.76 682.25 Td (by ) Tj ET Q q 0 0 0 rg BT 541.96 682.25 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.25 Td (companies ) Tj ET Q q 0 0 0 rg BT 95.49 670.25 Td (in ) Tj ET Q q 0 0 0 rg BT 106.50 670.25 Td (the ) Tj ET Q q 0 0 0 rg BT 121.95 670.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 180.73 670.25 Td (industry ) Tj ET Q q 0 0 0 rg BT 216.74 670.25 Td (and, ) Tj ET Q q 0 0 0 rg BT 236.91 670.25 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 278.72 670.25 Td (should ) Tj ET Q q 0 0 0 rg BT 308.62 670.25 Td (not ) Tj ET Q q 0 0 0 rg BT 324.63 670.25 Td (be ) Tj ET Q q 0 0 0 rg BT 337.30 670.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 383.84 670.25 Td (in ) Tj ET Q q 0 0 0 rg BT 394.85 670.25 Td (isolation ) Tj ET Q q 0 0 0 rg BT 432.52 670.25 Td (or ) Tj ET Q q 0 0 0 rg BT 444.08 670.25 Td (as ) Tj ET Q q 0 0 0 rg BT 455.65 670.25 Td (an ) Tj ET Q q 0 0 0 rg BT 468.31 670.25 Td (alternative ) Tj ET Q q 0 0 0 rg BT 513.74 670.25 Td (to ) Tj ET Q q 0 0 0 rg BT 524.75 670.25 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 103.73 658.25 Td (and/or ) Tj ET Q q 0 0 0 rg BT 132.98 658.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 171.67 658.25 Td (measures ) Tj ET Q q 0 0 0 rg BT 212.58 658.25 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 257.93 658.25 Td (by ) Tj ET Q q 0 0 0 rg BT 271.64 658.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 297.76 658.25 Td (. ) Tj ET Q q 0 0 0 rg BT 303.96 658.25 Td (Rather) Tj ET Q q 0 0 0 rg BT 330.22 658.25 Td (, ) Tj ET Q q 0 0 0 rg BT 336.42 658.25 Td (these ) Tj ET Q q 0 0 0 rg BT 360.68 658.25 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 405.86 658.25 Td ( ) Tj ET Q q 0 0 0 rg BT 409.57 658.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 448.25 658.25 Td (measures ) Tj ET Q q 0 0 0 rg BT 489.17 658.25 Td (should ) Tj ET Q q 0 0 0 rg BT 519.54 658.25 Td (be ) Tj ET Q q 0 0 0 rg BT 532.69 658.25 Td (used ) Tj ET Q q 0 0 0 rg BT 554.72 658.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.25 Td (supplement ) Tj ET Q q 0 0 0 rg BT 98.10 646.25 Td (our ) Tj ET Q q 0 0 0 rg BT 113.93 646.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 140.79 646.25 Td ( ) Tj ET Q q 0 0 0 rg BT 143.29 646.25 Td (results ) Tj ET Q q 0 0 0 rg BT 171.90 646.25 Td (in ) Tj ET Q q 0 0 0 rg BT 182.18 646.25 Td (order ) Tj ET Q q 0 0 0 rg BT 205.77 646.25 Td (to ) Tj ET Q q 0 0 0 rg BT 216.05 646.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 249.10 646.25 Td (a ) Tj ET Q q 0 0 0 rg BT 256.04 646.25 Td (greater ) Tj ET Q q 0 0 0 rg BT 286.29 646.25 Td (understanding ) Tj ET Q q 0 0 0 rg BT 345.45 646.25 Td (of ) Tj ET Q q 0 0 0 rg BT 356.28 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 370.99 646.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 400.70 646.25 Td (and ) Tj ET Q q 0 0 0 rg BT 417.64 646.25 Td (trends ) Tj ET Q q 0 0 0 rg BT 444.58 646.25 Td (af) Tj ET Q q 0 0 0 rg BT 452.17 646.25 Td (fecting ) Tj ET Q q 0 0 0 rg BT 482.43 646.25 Td (our ) Tj ET Q q 0 0 0 rg BT 498.26 646.25 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 624.25 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 87.88 624.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 121.83 624.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 145.21 624.25 Td (mar) Tj ET Q q 0 0 0 rg BT 160.58 624.25 Td (gin, ) Tj ET Q q 0 0 0 rg BT 178.13 624.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 213.73 624.25 Td (income ) Tj ET Q q 0 0 0 rg BT 245.44 624.25 Td (before ) Tj ET Q q 0 0 0 rg BT 273.25 624.25 Td (income ) Tj ET Q q 0 0 0 rg BT 304.96 624.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 327.78 624.25 Td (and ) Tj ET Q q 0 0 0 rg BT 344.50 624.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 380.09 624.25 Td (net ) Tj ET Q q 0 0 0 rg BT 394.59 624.25 Td (income ) Tj ET Q q 0 0 0 rg BT 426.29 624.25 Td (available ) Tj ET Q q 0 0 0 rg BT 464.66 624.25 Td (to ) Tj ET Q q 0 0 0 rg BT 474.71 624.25 Td (common ) Tj ET Q q 0 0 0 rg BT 511.98 624.25 Td (shareholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 612.25 Td (are ) Tj ET Q q 0 0 0 rg BT 64.21 612.25 Td (calculated ) Tj ET Q q 0 0 0 rg BT 107.23 612.25 Td (as ) Tj ET Q q 0 0 0 rg BT 118.06 612.25 Td (follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 588.75 m 376 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 588.75 m 383 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 588.75 m 437 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 588.75 m 447 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 588.75 m 501 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 588.75 m 508 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 588.75 m 562 588.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 576.75 m 322 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 576.75 m 376 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 576.75 m 383 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 576.75 m 437 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 576.75 m 447 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 576.75 m 501 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 576.75 m 508 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 576.75 m 562 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 576.75 m 322 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 576.75 m 376 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 576.75 m 383 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 576.75 m 437 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 576.75 m 447 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 576.75 m 501 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 576.75 m 508 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 576.75 m 562 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 552.75 m 322 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 552.75 m 376 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 552.75 m 383 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 552.75 m 437 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 552.75 m 447 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 552.75 m 501 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 552.75 m 508 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 552.75 m 562 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 512.75 m 322 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 512.75 m 376 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 512.75 m 383 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 512.75 m 437 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 512.75 m 447 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 512.75 m 501 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 512.75 m 508 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 512.75 m 562 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 408.75 m 322 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 408.75 m 376 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 408.75 m 383 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 408.75 m 437 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 408.75 m 447 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 408.75 m 501 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 408.75 m 508 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 408.75 m 562 408.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 327.75 m 322 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 327.75 m 376 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 327.75 m 383 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 327.75 m 437 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 327.75 m 447 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 327.75 m 501 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 327.75 m 508 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 327.75 m 562 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 306.75 m 322 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 306.75 m 376 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 306.75 m 383 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 306.75 m 437 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 306.75 m 447 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 306.75 m 501 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 306.75 m 508 306.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 306.75 m 562 306.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.35 592.98 Td (Thr) Tj ET Q q 0 0 0 rg BT 340.61 592.98 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.20 592.98 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 580.70 Td (\(Dollars in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.50 580.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.50 580.70 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.50 580.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.50 580.70 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 568.70 Td (Housing revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 568.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.50 568.83 Td (545,034) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 568.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.75 568.70 Td (443,093) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 568.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.50 568.83 Td (963,458) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 568.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.75 568.70 Td (830,551) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 556.70 Td (Housing cost of sales) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.50 556.83 Td (448,230) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.75 556.70 Td (365,835) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.50 556.83 Td (792,929) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.75 556.70 Td (681,277) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 540.70 Td (Housing gross mar) Tj ET Q q 0 0 0 rg BT 111.87 540.70 Td (gin) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.50 540.83 Td (96,804) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 540.70 Td (77,258) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.50 540.83 Td (170,529) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.75 540.70 Td (149,274) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 528.70 Td (Add: Purchase accounting adjustments) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 181.70 532.33 Td ( \(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.50 528.83 Td (2,961) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 528.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 528.83 Td (3,857) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 528.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 516.70 Td (Add: Stucco-related char) Tj ET Q q 0 0 0 rg BT 137.32 516.70 Td (ges ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 149.98 520.33 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.50 516.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 516.70 Td (8,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.50 516.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 516.70 Td (8,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 500.70 Td (Adjusted housing gross mar) Tj ET Q q 0 0 0 rg BT 140.98 500.70 Td (gin) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 500.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.50 500.83 Td (99,765) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 500.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 500.70 Td (85,758) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 500.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.50 500.83 Td (174,386) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 500.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.75 500.70 Td (157,774) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 484.70 Td (Housing gross mar) Tj ET Q q 0 0 0 rg BT 111.87 484.70 Td (gin percentage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.50 484.83 Td (17.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.50 484.83 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 484.70 Td (17.4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.80 484.70 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.50 484.83 Td (17.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.50 484.83 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 484.70 Td (18.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 484.70 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 472.70 Td (Adjusted housing gross mar) Tj ET Q q 0 0 0 rg BT 140.98 472.70 Td (gin percentage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.50 472.83 Td (18.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.50 472.83 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.80 472.70 Td (19.4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.80 472.70 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.50 472.83 Td (18.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.50 472.83 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 472.70 Td (19.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 472.70 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 448.70 Td (Income before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 448.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.50 448.83 Td (33,531) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 448.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 448.70 Td (25,185) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 448.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.50 448.83 Td (57,404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 448.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 448.70 Td (51,520) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 436.70 Td (Add: Purchase accounting adjustments) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 181.70 440.33 Td ( \(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.50 436.83 Td (2,961) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 436.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 436.83 Td (3,857) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 436.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 424.70 Td (Add: ) Tj ET Q q 0 0 0 rg BT 75.06 424.70 Td (Acquisition and integration expenses) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 193.48 428.33 Td ( \(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.50 424.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 424.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 424.83 Td (1,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 424.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 412.70 Td (Add: Stucco-related char) Tj ET Q q 0 0 0 rg BT 137.32 412.70 Td (ges ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 149.98 416.33 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.50 412.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 412.70 Td (8,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.50 412.83 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 412.70 Td (8,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 396.70 Td (Adjusted income before income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 396.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.50 396.83 Td (36,492) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 396.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 396.70 Td (33,685) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 396.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.50 396.83 Td (62,961) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 396.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 396.70 Td (60,020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 371.00 Td (Net income available to common shareholders) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 370.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.50 370.98 Td (27,91) Tj ET Q q 0 0 0 rg BT 363.50 370.98 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 371.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 371.00 Td (15,770) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 370.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.50 370.98 Td (45,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 371.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 371.00 Td (31,434) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 358.00 Td (Add: Purchase accounting adjustments - net of tax) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 218.57 361.63 Td ( \(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.50 357.98 Td (2,191) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 358.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 357.98 Td (2,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 358.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 345.00 Td (Add: ) Tj ET Q q 0 0 0 rg BT 75.06 345.00 Td (Acquisition and integration expenses - net of tax) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 230.35 348.63 Td ( \(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.50 344.98 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.80 345.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 344.98 Td (1,258) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 345.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 332.00 Td (Add: Stucco-related char) Tj ET Q q 0 0 0 rg BT 137.32 332.00 Td (ges - net of tax ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 186.86 335.63 Td (\(c\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.50 331.98 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.75 332.00 Td (5,440) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.50 331.98 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 332.00 Td (5,440) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 315.00 Td (Adjusted net income available to common shareholders) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 314.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.50 314.98 Td (30,102) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.50 315.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.75 315.00 Td (21,210) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 314.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.50 314.98 Td (50,086) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 315.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 315.00 Td (36,874) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 291.65 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 291.65 Td (Represents ) Tj ET Q q 0 0 0 rg BT 104.60 291.65 Td (purchase ) Tj ET Q q 0 0 0 rg BT 135.03 291.65 Td (accounting ) Tj ET Q q 0 0 0 rg BT 172.13 291.65 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 212.35 291.65 Td (related ) Tj ET Q q 0 0 0 rg BT 236.11 291.65 Td (to ) Tj ET Q q 0 0 0 rg BT 244.33 291.65 Td (our ) Tj ET Q q 0 0 0 rg BT 257.00 291.65 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 294.10 291.65 Td (of ) Tj ET Q q 0 0 0 rg BT 302.77 291.65 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 332.31 291.65 Td (Homes ) Tj ET Q q 0 0 0 rg BT 356.98 291.65 Td (in ) Tj ET Q q 0 0 0 rg BT 365.20 291.65 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 391.86 291.65 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 424.52 291.65 Td (on ) Tj ET Q q 0 0 0 rg BT 434.52 291.65 Td (March ) Tj ET Q q 0 0 0 rg BT 457.40 291.65 Td (1, ) Tj ET Q q 0 0 0 rg BT 465.40 291.65 Td (2018.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 279.05 Td (\(b\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 279.05 Td (Represents ) Tj ET Q q 0 0 0 rg BT 104.57 279.05 Td (costs ) Tj ET Q q 0 0 0 rg BT 122.54 279.05 Td (which ) Tj ET Q q 0 0 0 rg BT 144.07 279.05 Td (include, ) Tj ET Q q 0 0 0 rg BT 171.59 279.05 Td (but ) Tj ET Q q 0 0 0 rg BT 183.78 279.05 Td (are ) Tj ET Q q 0 0 0 rg BT 195.52 279.05 Td (not ) Tj ET Q q 0 0 0 rg BT 207.71 279.05 Td (limited ) Tj ET Q q 0 0 0 rg BT 232.35 279.05 Td (to, ) Tj ET Q q 0 0 0 rg BT 242.54 279.05 Td (legal ) Tj ET Q q 0 0 0 rg BT 260.06 279.05 Td (fees ) Tj ET Q q 0 0 0 rg BT 274.91 279.05 Td (and ) Tj ET Q q 0 0 0 rg BT 288.43 279.05 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 321.28 279.05 Td (travel ) Tj ET Q q 0 0 0 rg BT 341.47 279.05 Td (and ) Tj ET Q q 0 0 0 rg BT 354.99 279.05 Td (communication ) Tj ET Q q 0 0 0 rg BT 406.73 279.05 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 439.58 279.05 Td (cost ) Tj ET Q q 0 0 0 rg BT 454.44 279.05 Td (of ) Tj ET Q q 0 0 0 rg BT 463.07 279.05 Td (appraisals, ) Tj ET Q q 0 0 0 rg BT 499.03 279.05 Td (accounting ) Tj ET Q q 0 0 0 rg BT 536.10 279.05 Td (fees ) Tj ET Q q 0 0 0 rg BT 550.95 279.05 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 269.45 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 100.42 269.45 Td (and ) Tj ET Q q 0 0 0 rg BT 114.01 269.45 Td (miscellaneous ) Tj ET Q q 0 0 0 rg BT 161.37 269.45 Td (expenses ) Tj ET Q q 0 0 0 rg BT 192.29 269.45 Td (related ) Tj ET Q q 0 0 0 rg BT 216.10 269.45 Td (to ) Tj ET Q q 0 0 0 rg BT 224.36 269.45 Td (our ) Tj ET Q q 0 0 0 rg BT 237.06 269.45 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 274.21 269.45 Td (of ) Tj ET Q q 0 0 0 rg BT 282.92 269.45 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 312.50 269.45 Td (Homes. ) Tj ET Q q 0 0 0 rg BT 339.21 269.45 Td ( ) Tj ET Q q 0 0 0 rg BT 340.80 269.45 Td (As ) Tj ET Q q 0 0 0 rg BT 351.73 269.45 Td (these ) Tj ET Q q 0 0 0 rg BT 370.21 269.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 388.25 269.45 Td (are ) Tj ET Q q 0 0 0 rg BT 400.06 269.45 Td (not ) Tj ET Q q 0 0 0 rg BT 412.32 269.45 Td (eligible ) Tj ET Q q 0 0 0 rg BT 438.35 269.45 Td (for ) Tj ET Q q 0 0 0 rg BT 449.72 269.45 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 494.85 269.45 Td (as ) Tj ET Q q 0 0 0 rg BT 503.56 269.45 Td (initial ) Tj ET Q q 0 0 0 rg BT 524.26 269.45 Td (direct ) Tj ET Q q 0 0 0 rg BT 544.52 269.45 Td (costs, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 259.85 Td (such ) Tj ET Q q 0 0 0 rg BT 84.16 259.85 Td (amounts ) Tj ET Q q 0 0 0 rg BT 113.27 259.85 Td (are ) Tj ET Q q 0 0 0 rg BT 125.04 259.85 Td (expensed ) Tj ET Q q 0 0 0 rg BT 156.80 259.85 Td (as ) Tj ET Q q 0 0 0 rg BT 165.47 259.85 Td (incurred.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 247.25 Td (\(c\) ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 67.50 247.25 Td (Represents ) Tj ET Q q 0 0 0 rg BT 103.45 247.25 Td (warranty ) Tj ET Q q 0 0 0 rg BT 132.89 247.25 Td (char) Tj ET Q q 0 0 0 rg BT 146.17 247.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 158.29 247.25 Td (for ) Tj ET Q q 0 0 0 rg BT 169.10 247.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 214.56 247.25 Td (repair ) Tj ET Q q 0 0 0 rg BT 234.47 247.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 251.79 247.25 Td (in ) Tj ET Q q 0 0 0 rg BT 259.58 247.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 282.52 247.25 Td (of ) Tj ET Q q 0 0 0 rg BT 290.74 247.25 Td (our ) Tj ET Q q 0 0 0 rg BT 302.86 247.25 Td (Florida ) Tj ET Q q 0 0 0 rg BT 327.12 247.25 Td (communities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.41 247.25 Td ( ) Tj ET Q BT /F1 7.80 Tf ET q 0 0 0 rg BT 369.18 247.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 379.99 247.25 Td (more ) Tj ET Q q 0 0 0 rg BT 397.74 247.25 Td (fully ) Tj ET Q q 0 0 0 rg BT 414.20 247.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 445.81 247.25 Td (in ) Tj ET Q BT /F1 7.80 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.38 w 0 i [] 0 d 1 J 1 j 3 M 453.603515625 246.21025390625005 m 474.3876953125 246.21025390625005 l s q 0 0 1 rg BT 453.60 247.25 Td (Note ) Tj ET Q q 0 0 1 rg BT 470.49 247.25 Td (6) Tj ET Q BT /F1 7.80 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 474.39 247.25 Td ( ) Tj ET Q q 0 0 0 rg BT 476.11 247.25 Td (to ) Tj ET Q q 0 0 0 rg BT 483.90 247.25 Td (our ) Tj ET Q q 0 0 0 rg BT 496.02 247.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 525.03 247.25 Td (statements\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 225.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 225.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.39 225.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 97.07 225.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 133.20 225.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 167.68 225.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 191.60 225.25 Td (mar) Tj ET Q q 0 0 0 rg BT 206.97 225.25 Td (gin, ) Tj ET Q q 0 0 0 rg BT 225.06 225.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 261.19 225.25 Td (income ) Tj ET Q q 0 0 0 rg BT 293.43 225.25 Td (before ) Tj ET Q q 0 0 0 rg BT 321.78 225.25 Td (income ) Tj ET Q q 0 0 0 rg BT 354.02 225.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 377.38 225.25 Td (and ) Tj ET Q q 0 0 0 rg BT 394.63 225.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 430.76 225.25 Td (net ) Tj ET Q q 0 0 0 rg BT 445.79 225.25 Td (income ) Tj ET Q q 0 0 0 rg BT 478.03 225.25 Td (available ) Tj ET Q q 0 0 0 rg BT 516.93 225.25 Td (to ) Tj ET Q q 0 0 0 rg BT 527.51 225.25 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 213.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 102.45 213.25 Td (are ) Tj ET Q q 0 0 0 rg BT 117.07 213.25 Td (relevant ) Tj ET Q q 0 0 0 rg BT 151.68 213.25 Td (and ) Tj ET Q q 0 0 0 rg BT 168.53 213.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 195.38 213.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 232.77 213.25 Td (measures ) Tj ET Q q 0 0 0 rg BT 272.39 213.25 Td (to ) Tj ET Q q 0 0 0 rg BT 282.58 213.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 321.10 213.25 Td (in ) Tj ET Q q 0 0 0 rg BT 331.29 213.25 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 375.35 213.25 Td (our ) Tj ET Q q 0 0 0 rg BT 391.09 213.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 431.26 213.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 484.20 213.25 Td (as ) Tj ET Q q 0 0 0 rg BT 494.94 213.25 Td (they ) Tj ET Q q 0 0 0 rg BT 514.57 213.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 550.29 213.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 201.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 73.95 201.25 Td (profit, ) Tj ET Q q 0 0 0 rg BT 102.01 201.25 Td (income ) Tj ET Q q 0 0 0 rg BT 134.79 201.25 Td (before ) Tj ET Q q 0 0 0 rg BT 163.67 201.25 Td (income ) Tj ET Q q 0 0 0 rg BT 196.44 201.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 220.33 201.25 Td (and ) Tj ET Q q 0 0 0 rg BT 238.11 201.25 Td (net ) Tj ET Q q 0 0 0 rg BT 253.67 201.25 Td (income ) Tj ET Q q 0 0 0 rg BT 286.44 201.25 Td (available ) Tj ET Q q 0 0 0 rg BT 325.87 201.25 Td (to ) Tj ET Q q 0 0 0 rg BT 336.99 201.25 Td (common ) Tj ET Q q 0 0 0 rg BT 375.33 201.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 429.21 201.25 Td (we ) Tj ET Q q 0 0 0 rg BT 444.21 201.25 Td (generated ) Tj ET Q q 0 0 0 rg BT 486.41 201.25 Td (specifically ) Tj ET Q q 0 0 0 rg BT 535.84 201.25 Td (on ) Tj ET Q q 0 0 0 rg BT 549.18 201.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 189.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.36 189.25 Td (during ) Tj ET Q q 0 0 0 rg BT 121.68 189.25 Td (a ) Tj ET Q q 0 0 0 rg BT 128.32 189.25 Td (given ) Tj ET Q q 0 0 0 rg BT 152.74 189.25 Td (period. ) Tj ET Q q 0 0 0 rg BT 183.00 189.25 Td ( ) Tj ET Q q 0 0 0 rg BT 185.04 189.25 Td (These ) Tj ET Q q 0 0 0 rg BT 211.13 189.25 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 256.31 189.25 Td ( ) Tj ET Q q 0 0 0 rg BT 258.52 189.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 295.70 189.25 Td (measures ) Tj ET Q q 0 0 0 rg BT 335.12 189.25 Td (isolate ) Tj ET Q q 0 0 0 rg BT 363.43 189.25 Td (the ) Tj ET Q q 0 0 0 rg BT 377.85 189.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 407.27 189.25 Td (that ) Tj ET Q q 0 0 0 rg BT 424.47 189.25 Td (the ) Tj ET Q q 0 0 0 rg BT 438.89 189.25 Td (acquisition-related ) Tj ET Q q 0 0 0 rg BT 515.51 189.25 Td (char) Tj ET Q q 0 0 0 rg BT 532.54 189.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 548.07 189.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 177.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 109.98 177.25 Td (char) Tj ET Q q 0 0 0 rg BT 127.01 177.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 144.74 177.25 Td (have ) Tj ET Q q 0 0 0 rg BT 168.03 177.25 Td (on ) Tj ET Q q 0 0 0 rg BT 182.43 177.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 218.50 177.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 244.02 177.25 Td (mar) Tj ET Q q 0 0 0 rg BT 259.39 177.25 Td (gins, ) Tj ET Q q 0 0 0 rg BT 282.96 177.25 Td (income ) Tj ET Q q 0 0 0 rg BT 316.80 177.25 Td (before ) Tj ET Q q 0 0 0 rg BT 346.74 177.25 Td (income ) Tj ET Q q 0 0 0 rg BT 380.58 177.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 405.53 177.25 Td (and ) Tj ET Q q 0 0 0 rg BT 424.37 177.25 Td (net ) Tj ET Q q 0 0 0 rg BT 440.99 177.25 Td (income ) Tj ET Q q 0 0 0 rg BT 474.83 177.25 Td (available ) Tj ET Q q 0 0 0 rg BT 515.33 177.25 Td (to ) Tj ET Q q 0 0 0 rg BT 527.51 177.25 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 165.25 Td (shareholders, ) Tj ET Q q 0 0 0 rg BT 105.52 165.25 Td (and ) Tj ET Q q 0 0 0 rg BT 122.94 165.25 Td (allow ) Tj ET Q q 0 0 0 rg BT 148.14 165.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 187.23 165.25 Td (to ) Tj ET Q q 0 0 0 rg BT 198.00 165.25 Td (make ) Tj ET Q q 0 0 0 rg BT 222.63 165.25 Td (comparisons ) Tj ET Q q 0 0 0 rg BT 276.17 165.25 Td (with ) Tj ET Q q 0 0 0 rg BT 296.93 165.25 Td (our ) Tj ET Q q 0 0 0 rg BT 313.24 165.25 Td (competitors ) Tj ET Q q 0 0 0 rg BT 363.44 165.25 Td (that ) Tj ET Q q 0 0 0 rg BT 381.41 165.25 Td (adjust ) Tj ET Q q 0 0 0 rg BT 408.28 165.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 442.94 165.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 467.03 165.25 Td (mar) Tj ET Q q 0 0 0 rg BT 482.40 165.25 Td (gins, ) Tj ET Q q 0 0 0 rg BT 504.55 165.25 Td (income ) Tj ET Q q 0 0 0 rg BT 536.97 165.25 Td (before ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 153.25 Td (income ) Tj ET Q q 0 0 0 rg BT 81.78 153.25 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 107.67 153.25 Td (and ) Tj ET Q q 0 0 0 rg BT 124.96 153.25 Td (net ) Tj ET Q q 0 0 0 rg BT 140.02 153.25 Td (income ) Tj ET Q q 0 0 0 rg BT 172.30 153.25 Td (available ) Tj ET Q q 0 0 0 rg BT 211.24 153.25 Td (to ) Tj ET Q q 0 0 0 rg BT 221.86 153.25 Td (common ) Tj ET Q q 0 0 0 rg BT 259.71 153.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 313.09 153.25 Td (in ) Tj ET Q q 0 0 0 rg BT 323.71 153.25 Td (a ) Tj ET Q q 0 0 0 rg BT 331.00 153.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 361.62 153.25 Td (manner) Tj ET Q q 0 0 0 rg BT 391.05 153.25 Td (. ) Tj ET Q q 0 0 0 rg BT 396.40 153.25 Td ( ) Tj ET Q q 0 0 0 rg BT 399.04 153.25 Td (W) Tj ET Q q 0 0 0 rg BT 407.68 153.25 Td (e ) Tj ET Q q 0 0 0 rg BT 414.96 153.25 Td (also ) Tj ET Q q 0 0 0 rg BT 433.92 153.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 465.64 153.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 504.59 153.25 Td (will ) Tj ET Q q 0 0 0 rg BT 523.00 153.25 Td (find ) Tj ET Q q 0 0 0 rg BT 541.95 153.25 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 141.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 85.75 141.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 123.66 141.25 Td (measures ) Tj ET Q q 0 0 0 rg BT 163.79 141.25 Td (relevant ) Tj ET Q q 0 0 0 rg BT 198.91 141.25 Td (and ) Tj ET Q q 0 0 0 rg BT 216.28 141.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 243.64 141.25 Td (because ) Tj ET Q q 0 0 0 rg BT 278.21 141.25 Td (they ) Tj ET Q q 0 0 0 rg BT 298.35 141.25 Td (represent ) Tj ET Q q 0 0 0 rg BT 337.92 141.25 Td (a ) Tj ET Q q 0 0 0 rg BT 345.29 141.25 Td (profitability ) Tj ET Q q 0 0 0 rg BT 395.98 141.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 432.22 141.25 Td (that ) Tj ET Q q 0 0 0 rg BT 450.14 141.25 Td (may ) Tj ET Q q 0 0 0 rg BT 470.28 141.25 Td (be ) Tj ET Q q 0 0 0 rg BT 482.64 141.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 524.99 141.25 Td (to ) Tj ET Q q 0 0 0 rg BT 535.70 141.25 Td (a ) Tj ET Q q 0 0 0 rg BT 543.06 141.25 Td (prior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 129.25 Td (period ) Tj ET Q q 0 0 0 rg BT 77.56 129.25 Td (without ) Tj ET Q q 0 0 0 rg BT 110.62 129.25 Td (regard ) Tj ET Q q 0 0 0 rg BT 138.67 129.25 Td (to ) Tj ET Q q 0 0 0 rg BT 148.96 129.25 Td (variability ) Tj ET Q q 0 0 0 rg BT 192.57 129.25 Td (of ) Tj ET Q q 0 0 0 rg BT 203.41 129.25 Td (the ) Tj ET Q q 0 0 0 rg BT 218.13 129.25 Td (char) Tj ET Q q 0 0 0 rg BT 235.16 129.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 251.00 129.25 Td (noted ) Tj ET Q q 0 0 0 rg BT 275.73 129.25 Td (above. ) Tj ET Q q 0 0 0 rg BT 304.61 129.25 Td ( ) Tj ET Q q 0 0 0 rg BT 306.94 129.25 Td (These ) Tj ET Q q 0 0 0 rg BT 333.33 129.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 370.82 129.25 Td (measures ) Tj ET Q q 0 0 0 rg BT 410.53 129.25 Td (assist ) Tj ET Q q 0 0 0 rg BT 434.71 129.25 Td (us ) Tj ET Q q 0 0 0 rg BT 446.12 129.25 Td (in ) Tj ET Q q 0 0 0 rg BT 456.40 129.25 Td (making ) Tj ET Q q 0 0 0 rg BT 488.91 129.25 Td (strategic ) Tj ET Q q 0 0 0 rg BT 525.29 129.25 Td (decisions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 117.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 90.32 117.25 Td (community ) Tj ET Q q 0 0 0 rg BT 138.37 117.25 Td (location ) Tj ET Q q 0 0 0 rg BT 173.08 117.25 Td (and ) Tj ET Q q 0 0 0 rg BT 190.02 117.25 Td (product ) Tj ET Q q 0 0 0 rg BT 223.06 117.25 Td (mix, ) Tj ET Q q 0 0 0 rg BT 243.62 117.25 Td (product ) Tj ET Q q 0 0 0 rg BT 276.67 117.25 Td (pricing ) Tj ET Q q 0 0 0 rg BT 307.49 117.25 Td (and ) Tj ET Q q 0 0 0 rg BT 324.43 117.25 Td (construction ) Tj ET Q q 0 0 0 rg BT 376.37 117.25 Td (pace.) Tj ET Q endstream endobj 83 0 obj <>] /Rotate 0 /Contents 84 0 R>> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (41) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 738.68505859375 m 170.505859375 738.68505859375 l s q 0 0 0 rg BT 49.50 740.25 Td (Y) Tj ET Q q 0 0 0 rg BT 55.61 740.25 Td (ear) Tj ET Q q 0 0 0 rg BT 69.31 740.25 Td ( Over) Tj ET Q q 0 0 0 rg BT 93.28 740.25 Td ( ) Tj ET Q q 0 0 0 rg BT 95.41 740.25 Td (Y) Tj ET Q q 0 0 0 rg BT 101.53 740.25 Td (ear) Tj ET Q q 0 0 0 rg BT 115.22 740.25 Td ( Comparison) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (Thr) Tj ET Q q 0 0 0 rg BT 65.99 718.25 Td (ee Months Ended June 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.00 718.25 Td ( Compar) Tj ET Q q 0 0 0 rg BT 238.88 718.25 Td (ed to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.02 718.25 Td (Thr) Tj ET Q q 0 0 0 rg BT 278.51 718.25 Td (ee Months Ended June 30, 2017) Tj ET Q BT /F2 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 696.25 Td (The ) Tj ET Q q 0 0 0 rg BT 66.60 696.25 Td (calculation ) Tj ET Q q 0 0 0 rg BT 113.68 696.25 Td (of ) Tj ET Q q 0 0 0 rg BT 123.56 696.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 159.54 696.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 193.31 696.25 Td (gr) Tj ET Q q 0 0 0 rg BT 201.83 696.25 Td (oss ) Tj ET Q q 0 0 0 rg BT 216.71 696.25 Td (mar) Tj ET Q q 0 0 0 rg BT 232.45 696.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 247.33 696.25 Td (\(r) Tj ET Q q 0 0 0 rg BT 254.18 696.25 Td (eferr) Tj ET Q q 0 0 0 rg BT 273.25 696.25 Td (ed ) Tj ET Q q 0 0 0 rg BT 284.78 696.25 Td (to ) Tj ET Q q 0 0 0 rg BT 294.66 696.25 Td (below\), ) Tj ET Q q 0 0 0 rg BT 326.47 696.25 Td (which ) Tj ET Q q 0 0 0 rg BT 352.46 696.25 Td (we ) Tj ET Q q 0 0 0 rg BT 365.66 696.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 396.07 696.25 Td (pr) Tj ET Q q 0 0 0 rg BT 404.59 696.25 Td (ovides ) Tj ET Q q 0 0 0 rg BT 432.23 696.25 Td (a ) Tj ET Q q 0 0 0 rg BT 439.33 696.25 Td (clear) Tj ET Q q 0 0 0 rg BT 459.51 696.25 Td (er ) Tj ET Q q 0 0 0 rg BT 469.93 696.25 Td (measur) Tj ET Q q 0 0 0 rg BT 499.01 696.25 Td (e ) Tj ET Q q 0 0 0 rg BT 505.54 696.25 Td (of ) Tj ET Q q 0 0 0 rg BT 515.42 696.25 Td (the ) Tj ET Q q 0 0 0 rg BT 529.73 696.25 Td (ongoing ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 684.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 102.98 684.25 Td (of ) Tj ET Q q 0 0 0 rg BT 113.14 684.25 Td (our ) Tj ET Q q 0 0 0 rg BT 129.41 684.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 168.19 684.25 Td (is ) Tj ET Q q 0 0 0 rg BT 177.24 684.25 Td (described ) Tj ET Q q 0 0 0 rg BT 218.50 684.25 Td (and ) Tj ET Q q 0 0 0 rg BT 235.88 684.25 Td (r) Tj ET Q q 0 0 0 rg BT 239.40 684.25 Td (econciled ) Tj ET Q q 0 0 0 rg BT 280.09 684.25 Td (to ) Tj ET Q q 0 0 0 rg BT 290.25 684.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 324.30 684.25 Td (gr) Tj ET Q q 0 0 0 rg BT 332.83 684.25 Td (oss ) Tj ET Q q 0 0 0 rg BT 347.99 684.25 Td (mar) Tj ET Q q 0 0 0 rg BT 363.73 684.25 Td (gin, ) Tj ET Q q 0 0 0 rg BT 381.39 684.25 Td (the ) Tj ET Q q 0 0 0 rg BT 395.99 684.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 433.92 684.25 Td (measur) Tj ET Q q 0 0 0 rg BT 463.00 684.25 Td (e ) Tj ET Q q 0 0 0 rg BT 469.82 684.25 Td (that ) Tj ET Q q 0 0 0 rg BT 487.76 684.25 Td (is ) Tj ET Q q 0 0 0 rg BT 496.81 684.25 Td (calculated ) Tj ET Q q 0 0 0 rg BT 540.84 684.25 Td (using ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.89 672.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 91.26 672.25 Td ( ) Tj ET Q q 0 0 0 rg BT 93.76 672.25 Td (r) Tj ET Q q 0 0 0 rg BT 97.28 672.25 Td (esults, ) Tj ET Q q 0 0 0 rg BT 125.06 672.25 Td (below ) Tj ET Q q 0 0 0 rg BT 151.44 672.25 Td (under ) Tj ET Q q 0 0 0 rg BT 177.27 672.25 Td (Segment ) Tj ET Q q 0 0 0 rg BT 219.21 672.25 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 264.58 672.25 Td ( ) Tj ET Q q 0 0 0 rg BT 267.08 672.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 308.46 672.25 Td (Measur) Tj ET Q q 0 0 0 rg BT 338.64 672.25 Td (es.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 648.25 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 88.50 648.25 Td (Region. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.00 648.25 Td (During ) Tj ET Q q 0 0 0 rg BT 157.88 648.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.65 648.25 Td (three ) Tj ET Q q 0 0 0 rg BT 199.18 648.25 Td (months ) Tj ET Q q 0 0 0 rg BT 233.18 648.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 261.61 648.25 Td (June ) Tj ET Q q 0 0 0 rg BT 284.49 648.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 301.54 648.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.54 648.25 Td (, ) Tj ET Q q 0 0 0 rg BT 328.59 648.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 388.69 648.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 424.89 648.25 Td (in ) Tj ET Q q 0 0 0 rg BT 437.22 648.25 Td (our ) Tj ET Q q 0 0 0 rg BT 455.10 648.25 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 494.65 648.25 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.75 648.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 636.25 Td ($58.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 636.25 Td (, ) Tj ET Q q 0 0 0 rg BT 109.24 636.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.02 636.25 Td ($168.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.91 636.25 Td ( ) Tj ET Q q 0 0 0 rg BT 194.26 636.25 Td (in ) Tj ET Q q 0 0 0 rg BT 205.38 636.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.95 636.25 Td (second ) Tj ET Q q 0 0 0 rg BT 252.06 636.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 283.72 636.25 Td (of ) Tj ET Q q 0 0 0 rg BT 295.40 636.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.40 636.25 Td ( ) Tj ET Q q 0 0 0 rg BT 318.75 636.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.87 636.25 Td ($226.9 ) Tj ET Q q 0 0 0 rg BT 360.72 636.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.61 636.25 Td ( ) Tj ET Q q 0 0 0 rg BT 392.96 636.25 Td (in ) Tj ET Q q 0 0 0 rg BT 404.08 636.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.64 636.25 Td (second ) Tj ET Q q 0 0 0 rg BT 450.76 636.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 482.42 636.25 Td (of ) Tj ET Q q 0 0 0 rg BT 494.10 636.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.10 636.25 Td (. ) Tj ET Q q 0 0 0 rg BT 519.94 636.25 Td ( ) Tj ET Q q 0 0 0 rg BT 523.05 636.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.17 636.25 Td (35%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 624.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 624.25 Td ( ) Tj ET Q q 0 0 0 rg BT 84.64 624.25 Td (in ) Tj ET Q q 0 0 0 rg BT 94.80 624.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 152.74 624.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 186.77 624.25 Td (was ) Tj ET Q q 0 0 0 rg BT 204.71 624.25 Td (the ) Tj ET Q q 0 0 0 rg BT 219.31 624.25 Td (result ) Tj ET Q q 0 0 0 rg BT 243.91 624.25 Td (of ) Tj ET Q q 0 0 0 rg BT 254.63 624.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.45 624.25 Td (27%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.78 624.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.17 624.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.92 624.25 Td ( ) Tj ET Q q 0 0 0 rg BT 317.31 624.25 Td (in ) Tj ET Q q 0 0 0 rg BT 327.47 624.25 Td (the ) Tj ET Q q 0 0 0 rg BT 342.07 624.25 Td (number ) Tj ET Q q 0 0 0 rg BT 375.00 624.25 Td (of ) Tj ET Q q 0 0 0 rg BT 385.72 624.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 414.21 624.25 Td (delivered ) Tj ET Q q 0 0 0 rg BT 453.80 624.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.13 624.25 Td (1) Tj ET Q q 0 0 0 rg BT 461.76 624.25 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.76 624.25 Td ( ) Tj ET Q q 0 0 0 rg BT 474.14 624.25 Td (units, ) Tj ET Q q 0 0 0 rg BT 498.48 624.25 Td (which ) Tj ET Q q 0 0 0 rg BT 525.30 624.25 Td (benefited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 612.25 Td (from ) Tj ET Q q 0 0 0 rg BT 72.47 612.25 Td (our ) Tj ET Q q 0 0 0 rg BT 89.33 612.25 Td (new ) Tj ET Q q 0 0 0 rg BT 109.52 612.25 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 141.38 612.25 Td (division\) ) Tj ET Q q 0 0 0 rg BT 180.46 612.25 Td (and ) Tj ET Q q 0 0 0 rg BT 198.43 612.25 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.40 612.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 612.25 Td ( ) Tj ET Q q 0 0 0 rg BT 247.68 612.25 Td (in ) Tj ET Q q 0 0 0 rg BT 258.99 612.25 Td (the ) Tj ET Q q 0 0 0 rg BT 274.74 612.25 Td (average ) Tj ET Q q 0 0 0 rg BT 309.35 612.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 332.32 612.25 Td (price ) Tj ET Q q 0 0 0 rg BT 355.84 612.25 Td (of ) Tj ET Q q 0 0 0 rg BT 367.70 612.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 397.34 612.25 Td (delivered ) Tj ET Q q 0 0 0 rg BT 438.07 612.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.40 612.25 Td ($24,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.90 612.25 Td ( ) Tj ET Q q 0 0 0 rg BT 477.43 612.25 Td (per ) Tj ET Q q 0 0 0 rg BT 493.73 612.25 Td (home ) Tj ET Q q 0 0 0 rg BT 519.48 612.25 Td (delivered\). ) Tj ET Q q 0 0 0 rg BT 565.01 612.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 600.25 Td (Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.62 600.25 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.05 600.25 Td ( ) Tj ET Q q 0 0 0 rg BT 123.18 600.25 Td (in ) Tj ET Q q 0 0 0 rg BT 133.10 600.25 Td (our ) Tj ET Q q 0 0 0 rg BT 148.56 600.25 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 185.69 600.25 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.37 600.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.13 600.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.26 600.25 Td ($1.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 600.25 Td ( ) Tj ET Q q 0 0 0 rg BT 304.28 600.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.85 600.25 Td ($18.0 ) Tj ET Q q 0 0 0 rg BT 350.49 600.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.38 600.25 Td ( ) Tj ET Q q 0 0 0 rg BT 381.51 600.25 Td (in ) Tj ET Q q 0 0 0 rg BT 391.42 600.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.77 600.25 Td (second ) Tj ET Q q 0 0 0 rg BT 435.67 600.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 466.12 600.25 Td (of ) Tj ET Q q 0 0 0 rg BT 476.58 600.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.58 600.25 Td ( ) Tj ET Q q 0 0 0 rg BT 498.72 600.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.63 600.25 Td ($19.0million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 588.25 Td (during ) Tj ET Q q 0 0 0 rg BT 78.36 588.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.33 588.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 124.40 588.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 151.02 588.25 Td (June ) Tj ET Q q 0 0 0 rg BT 172.10 588.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 187.36 588.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.36 588.25 Td (. ) Tj ET Q q 0 0 0 rg BT 212.61 588.25 Td ( ) Tj ET Q q 0 0 0 rg BT 215.16 588.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.69 588.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.44 588.25 Td ( ) Tj ET Q q 0 0 0 rg BT 271.20 588.25 Td (in ) Tj ET Q q 0 0 0 rg BT 281.73 588.25 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.24 588.25 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.67 588.25 Td ( ) Tj ET Q q 0 0 0 rg BT 354.43 588.25 Td (was ) Tj ET Q q 0 0 0 rg BT 372.73 588.25 Td (the ) Tj ET Q q 0 0 0 rg BT 387.70 588.25 Td (result ) Tj ET Q q 0 0 0 rg BT 412.67 588.25 Td (of ) Tj ET Q q 0 0 0 rg BT 423.75 588.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.94 588.25 Td ($4.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.83 588.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.58 588.25 Td (improvement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.90 588.25 Td ( ) Tj ET Q q 0 0 0 rg BT 538.65 588.25 Td (in ) Tj ET Q q 0 0 0 rg BT 549.18 588.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 576.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 74.31 576.25 Td (mar) Tj ET Q q 0 0 0 rg BT 89.68 576.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 106.16 576.25 Td (of) Tj ET Q q 0 0 0 rg BT 114.30 576.25 Td (fset ) Tj ET Q q 0 0 0 rg BT 132.44 576.25 Td (partially ) Tj ET Q q 0 0 0 rg BT 169.46 576.25 Td (by ) Tj ET Q q 0 0 0 rg BT 183.16 576.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.30 576.25 Td ($3.9 ) Tj ET Q q 0 0 0 rg BT 212.50 576.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.39 576.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.09 576.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.84 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 281.54 576.25 Td (in ) Tj ET Q q 0 0 0 rg BT 293.02 576.25 Td (selling, ) Tj ET Q q 0 0 0 rg BT 325.88 576.25 Td (general, ) Tj ET Q q 0 0 0 rg BT 361.50 576.25 Td (and ) Tj ET Q q 0 0 0 rg BT 379.64 576.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 440.54 576.25 Td (expense. ) Tj ET Q q 0 0 0 rg BT 478.95 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 482.38 576.25 Td (W) Tj ET Q q 0 0 0 rg BT 491.42 576.25 Td (ith ) Tj ET Q q 0 0 0 rg BT 505.68 576.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 537.69 576.25 Td (to ) Tj ET Q q 0 0 0 rg BT 549.17 576.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 564.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 106.77 564.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 129.61 564.25 Td (mar) Tj ET Q q 0 0 0 rg BT 144.97 564.25 Td (gin, ) Tj ET Q q 0 0 0 rg BT 161.97 564.25 Td (our ) Tj ET Q q 0 0 0 rg BT 177.02 564.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 210.41 564.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 233.24 564.25 Td (mar) Tj ET Q q 0 0 0 rg BT 248.61 564.25 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.11 564.25 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.43 564.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 564.25 Td ($4.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.05 564.25 Td ( ) Tj ET Q q 0 0 0 rg BT 353.77 564.25 Td (due ) Tj ET Q q 0 0 0 rg BT 369.92 564.25 Td (to ) Tj ET Q q 0 0 0 rg BT 379.42 564.25 Td (the ) Tj ET Q q 0 0 0 rg BT 393.36 564.25 Td (increases ) Tj ET Q q 0 0 0 rg BT 431.73 564.25 Td (in ) Tj ET Q q 0 0 0 rg BT 441.22 564.25 Td (the ) Tj ET Q q 0 0 0 rg BT 455.16 564.25 Td (number ) Tj ET Q q 0 0 0 rg BT 487.43 564.25 Td (of ) Tj ET Q q 0 0 0 rg BT 497.48 564.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 525.31 564.25 Td (delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 552.25 Td (and ) Tj ET Q q 0 0 0 rg BT 67.66 552.25 Td (average ) Tj ET Q q 0 0 0 rg BT 102.47 552.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 125.63 552.25 Td (price ) Tj ET Q q 0 0 0 rg BT 149.33 552.25 Td (of ) Tj ET Q q 0 0 0 rg BT 161.39 552.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 191.22 552.25 Td (delivered ) Tj ET Q q 0 0 0 rg BT 232.14 552.25 Td (noted ) Tj ET Q q 0 0 0 rg BT 258.08 552.25 Td (above, ) Tj ET Q q 0 0 0 rg BT 288.18 552.25 Td (of) Tj ET Q q 0 0 0 rg BT 296.33 552.25 Td (fset ) Tj ET Q q 0 0 0 rg BT 314.49 552.25 Td (partially ) Tj ET Q q 0 0 0 rg BT 351.53 552.25 Td (by ) Tj ET Q q 0 0 0 rg BT 365.25 552.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.19 552.25 Td ($3.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.09 552.25 Td ( ) Tj ET Q q 0 0 0 rg BT 433.81 552.25 Td (char) Tj ET Q q 0 0 0 rg BT 450.83 552.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 463.99 552.25 Td (for ) Tj ET Q q 0 0 0 rg BT 479.38 552.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 518.64 552.25 Td (accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 540.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 100.56 540.25 Td (related ) Tj ET Q q 0 0 0 rg BT 131.05 540.25 Td (to ) Tj ET Q q 0 0 0 rg BT 142.11 540.25 Td (our ) Tj ET Q q 0 0 0 rg BT 158.73 540.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 205.90 540.25 Td (of ) Tj ET Q q 0 0 0 rg BT 217.51 540.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 255.23 540.25 Td (Homes ) Tj ET Q q 0 0 0 rg BT 286.85 540.25 Td (in ) Tj ET Q q 0 0 0 rg BT 297.91 540.25 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 332.02 540.25 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 373.64 540.25 Td (on ) Tj ET Q q 0 0 0 rg BT 386.92 540.25 Td (March ) Tj ET Q q 0 0 0 rg BT 416.31 540.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 427.09 540.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 452.88 540.25 Td ( ) Tj ET Q q 0 0 0 rg BT 456.17 540.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 475.00 540.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 509.96 540.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 534.36 540.25 Td (mar) Tj ET Q q 0 0 0 rg BT 549.72 540.25 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 528.25 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.25 528.25 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.13 528.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.58 528.25 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.58 528.25 Td ( ) Tj ET Q q 0 0 0 rg BT 146.03 528.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 167.48 528.25 Td (points ) Tj ET Q q 0 0 0 rg BT 193.38 528.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.62 528.25 Td (17.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.45 528.25 Td ( ) Tj ET Q q 0 0 0 rg BT 229.90 528.25 Td (in ) Tj ET Q q 0 0 0 rg BT 239.13 528.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.80 528.25 Td (second ) Tj ET Q q 0 0 0 rg BT 282.02 528.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 311.79 528.25 Td (of ) Tj ET Q q 0 0 0 rg BT 321.57 528.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.57 528.25 Td ( ) Tj ET Q q 0 0 0 rg BT 343.02 528.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.91 528.25 Td (20.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.74 528.25 Td ( ) Tj ET Q q 0 0 0 rg BT 391.20 528.25 Td (in ) Tj ET Q q 0 0 0 rg BT 400.43 528.25 Td (the ) Tj ET Q q 0 0 0 rg BT 414.10 528.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 434.99 528.25 Td (year) Tj ET Q q 0 0 0 rg BT 452.57 528.25 Td () Tj ET Q q 0 0 0 rg BT 455.34 528.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.69 528.25 Td (second ) Tj ET Q q 0 0 0 rg BT 489.91 528.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.67 528.25 Td (. ) Tj ET Q q 0 0 0 rg BT 521.63 528.25 Td ( ) Tj ET Q q 0 0 0 rg BT 523.08 528.25 Td (Exclusive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 516.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.05 516.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.48 516.25 Td ($3.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.37 516.25 Td ( ) Tj ET Q q 0 0 0 rg BT 125.59 516.25 Td (char) Tj ET Q q 0 0 0 rg BT 142.61 516.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 154.27 516.25 Td (for ) Tj ET Q q 0 0 0 rg BT 168.14 516.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 205.90 516.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 251.98 516.25 Td (adjustments, ) Tj ET Q q 0 0 0 rg BT 304.47 516.25 Td (our ) Tj ET Q q 0 0 0 rg BT 320.02 516.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 355.56 516.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 389.45 516.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 412.77 516.25 Td (mar) Tj ET Q q 0 0 0 rg BT 428.14 516.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 443.13 516.25 Td (for ) Tj ET Q q 0 0 0 rg BT 457.01 516.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.44 516.25 Td (second ) Tj ET Q q 0 0 0 rg BT 501.43 516.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 531.96 516.25 Td (of ) Tj ET Q q 0 0 0 rg BT 542.50 516.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 504.25 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.37 504.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.65 504.25 Td (170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.65 504.25 Td ( ) Tj ET Q q 0 0 0 rg BT 102.94 504.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 125.22 504.25 Td (points ) Tj ET Q q 0 0 0 rg BT 151.95 504.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.01 504.25 Td (18.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.84 504.25 Td ( ) Tj ET Q q 0 0 0 rg BT 190.13 504.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 231.83 504.25 Td (to ) Tj ET Q q 0 0 0 rg BT 241.89 504.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.39 504.25 Td (second ) Tj ET Q q 0 0 0 rg BT 286.44 504.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 317.04 504.25 Td (of ) Tj ET Q q 0 0 0 rg BT 327.65 504.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.65 504.25 Td (. ) Tj ET Q q 0 0 0 rg BT 352.44 504.25 Td ( ) Tj ET Q q 0 0 0 rg BT 354.55 504.25 Td (The ) Tj ET Q q 0 0 0 rg BT 372.38 504.25 Td (decline ) Tj ET Q q 0 0 0 rg BT 403.54 504.25 Td (in ) Tj ET Q q 0 0 0 rg BT 413.60 504.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 447.55 504.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 470.95 504.25 Td (mar) Tj ET Q q 0 0 0 rg BT 486.31 504.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 501.38 504.25 Td (percentage ) Tj ET Q q 0 0 0 rg BT 546.96 504.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 492.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 88.55 492.25 Td (due ) Tj ET Q q 0 0 0 rg BT 104.83 492.25 Td (to ) Tj ET Q q 0 0 0 rg BT 114.44 492.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 154.03 492.25 Td (lot ) Tj ET Q q 0 0 0 rg BT 166.43 492.25 Td (and ) Tj ET Q q 0 0 0 rg BT 182.70 492.25 Td (construction ) Tj ET Q q 0 0 0 rg BT 233.97 492.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 255.81 492.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 297.07 492.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.69 492.25 Td (2017's ) Tj ET Q q 0 0 0 rg BT 334.22 492.25 Td (same ) Tj ET Q q 0 0 0 rg BT 356.60 492.25 Td (period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 492.25 Td ( ) Tj ET Q q 0 0 0 rg BT 383.99 492.25 Td (as ) Tj ET Q q 0 0 0 rg BT 394.15 492.25 Td (well ) Tj ET Q q 0 0 0 rg BT 413.21 492.25 Td (as ) Tj ET Q q 0 0 0 rg BT 423.38 492.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 457.42 492.25 Td (in ) Tj ET Q q 0 0 0 rg BT 467.04 492.25 Td (product ) Tj ET Q q 0 0 0 rg BT 499.42 492.25 Td (type ) Tj ET Q q 0 0 0 rg BT 518.47 492.25 Td (and ) Tj ET Q q 0 0 0 rg BT 534.75 492.25 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 480.25 Td (mix ) Tj ET Q q 0 0 0 rg BT 67.56 480.25 Td (of ) Tj ET Q q 0 0 0 rg BT 78.39 480.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 107.00 480.25 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 149.20 480.25 Td ( ) Tj ET Q q 0 0 0 rg BT 151.70 480.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 169.75 480.25 Td (land ) Tj ET Q q 0 0 0 rg BT 189.47 480.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 207.51 480.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 231.13 480.25 Td (mar) Tj ET Q q 0 0 0 rg BT 246.49 480.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 261.77 480.25 Td (remained ) Tj ET Q q 0 0 0 rg BT 301.47 480.25 Td (flat ) Tj ET Q q 0 0 0 rg BT 317.30 480.25 Td (in ) Tj ET Q q 0 0 0 rg BT 327.58 480.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.29 480.25 Td (second ) Tj ET Q q 0 0 0 rg BT 372.56 480.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 403.38 480.25 Td (of ) Tj ET Q q 0 0 0 rg BT 414.21 480.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.21 480.25 Td ( ) Tj ET Q q 0 0 0 rg BT 436.71 480.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 478.63 480.25 Td (to ) Tj ET Q q 0 0 0 rg BT 488.91 480.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.63 480.25 Td (same ) Tj ET Q q 0 0 0 rg BT 526.67 480.25 Td (period ) Tj ET Q q 0 0 0 rg BT 554.72 480.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 468.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 468.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 446.25 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 83.49 446.25 Td (general ) Tj ET Q q 0 0 0 rg BT 116.06 446.25 Td (and ) Tj ET Q q 0 0 0 rg BT 133.65 446.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 194.01 446.25 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.37 446.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.12 446.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.28 446.25 Td ($3.9 ) Tj ET Q q 0 0 0 rg BT 290.93 446.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.82 446.25 Td (, ) Tj ET Q q 0 0 0 rg BT 325.47 446.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.06 446.25 Td ($15.8 ) Tj ET Q q 0 0 0 rg BT 373.71 446.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.61 446.25 Td ( ) Tj ET Q q 0 0 0 rg BT 405.76 446.25 Td (for ) Tj ET Q q 0 0 0 rg BT 420.57 446.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.94 446.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 467.41 446.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 494.43 446.25 Td (June ) Tj ET Q q 0 0 0 rg BT 515.92 446.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 531.57 446.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.57 446.25 Td ( ) Tj ET Q q 0 0 0 rg BT 554.72 446.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 434.25 Td ($19.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 434.25 Td ( ) Tj ET Q q 0 0 0 rg BT 106.17 434.25 Td (for ) Tj ET Q q 0 0 0 rg BT 120.62 434.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.62 434.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 166.72 434.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 193.38 434.25 Td (June ) Tj ET Q q 0 0 0 rg BT 214.49 434.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 229.77 434.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.77 434.25 Td (, ) Tj ET Q q 0 0 0 rg BT 255.06 434.25 Td (and ) Tj ET Q q 0 0 0 rg BT 272.28 434.25 Td (declined ) Tj ET Q q 0 0 0 rg BT 308.93 434.25 Td (as ) Tj ET Q q 0 0 0 rg BT 320.05 434.25 Td (a ) Tj ET Q q 0 0 0 rg BT 327.27 434.25 Td (percentage ) Tj ET Q q 0 0 0 rg BT 373.35 434.25 Td (of ) Tj ET Q q 0 0 0 rg BT 384.47 434.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 418.89 434.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.46 434.25 Td (8.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.29 434.25 Td ( ) Tj ET Q q 0 0 0 rg BT 453.07 434.25 Td (in ) Tj ET Q q 0 0 0 rg BT 463.63 434.25 Td (2018) Tj ET Q q 0 0 0 rg BT 486.41 434.25 Td (s ) Tj ET Q q 0 0 0 rg BT 493.08 434.25 Td (first ) Tj ET Q q 0 0 0 rg BT 511.98 434.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 543.07 434.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (9.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.33 422.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.36 422.25 Td (in ) Tj ET Q q 0 0 0 rg BT 82.16 422.25 Td (2017) Tj ET Q q 0 0 0 rg BT 104.94 422.25 Td (s ) Tj ET Q q 0 0 0 rg BT 110.86 422.25 Td (first ) Tj ET Q q 0 0 0 rg BT 128.99 422.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 156.76 422.25 Td (. ) Tj ET Q q 0 0 0 rg BT 161.28 422.25 Td ( ) Tj ET Q q 0 0 0 rg BT 163.16 422.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.74 422.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.49 422.25 Td ( ) Tj ET Q q 0 0 0 rg BT 215.52 422.25 Td (in ) Tj ET Q q 0 0 0 rg BT 225.32 422.25 Td (selling, ) Tj ET Q q 0 0 0 rg BT 256.51 422.25 Td (general ) Tj ET Q q 0 0 0 rg BT 287.96 422.25 Td (and ) Tj ET Q q 0 0 0 rg BT 304.43 422.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 363.66 422.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 397.89 422.25 Td (was ) Tj ET Q q 0 0 0 rg BT 415.47 422.25 Td (attributable ) Tj ET Q q 0 0 0 rg BT 463.04 422.25 Td (to ) Tj ET Q q 0 0 0 rg BT 472.84 422.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.30 422.25 Td ($2.9 ) Tj ET Q q 0 0 0 rg BT 498.83 422.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.72 422.25 Td ( ) Tj ET Q q 0 0 0 rg BT 529.75 422.25 Td (increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 410.25 Td (in ) Tj ET Q q 0 0 0 rg BT 60.23 410.25 Td (selling ) Tj ET Q q 0 0 0 rg BT 89.85 410.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 125.01 410.25 Td (due ) Tj ET Q q 0 0 0 rg BT 142.40 410.25 Td (to ) Tj ET Q q 0 0 0 rg BT 153.13 410.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 167.74 410.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.13 410.25 Td ($2.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.02 410.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.97 410.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.72 410.25 Td ( ) Tj ET Q q 0 0 0 rg BT 262.68 410.25 Td (in ) Tj ET Q q 0 0 0 rg BT 273.41 410.25 Td (variable ) Tj ET Q q 0 0 0 rg BT 308.56 410.25 Td (selling ) Tj ET Q q 0 0 0 rg BT 338.18 410.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 377.23 410.25 Td (resulting ) Tj ET Q q 0 0 0 rg BT 415.17 410.25 Td (from ) Tj ET Q q 0 0 0 rg BT 437.56 410.25 Td (increases ) Tj ET Q q 0 0 0 rg BT 477.16 410.25 Td (in ) Tj ET Q q 0 0 0 rg BT 487.89 410.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 510.28 410.25 Td (commissions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 398.25 Td (produced ) Tj ET Q q 0 0 0 rg BT 89.02 398.25 Td (by ) Tj ET Q q 0 0 0 rg BT 101.34 398.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.87 398.25 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.42 398.25 Td ( ) Tj ET Q q 0 0 0 rg BT 143.73 398.25 Td (number ) Tj ET Q q 0 0 0 rg BT 176.60 398.25 Td (of ) Tj ET Q q 0 0 0 rg BT 187.24 398.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 215.67 398.25 Td (delivered ) Tj ET Q q 0 0 0 rg BT 255.19 398.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.94 398.25 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.49 398.25 Td ( ) Tj ET Q q 0 0 0 rg BT 299.80 398.25 Td (average ) Tj ET Q q 0 0 0 rg BT 333.20 398.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 354.96 398.25 Td (price ) Tj ET Q q 0 0 0 rg BT 377.26 398.25 Td (of ) Tj ET Q q 0 0 0 rg BT 387.90 398.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 416.33 398.25 Td (delivered, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.35 398.25 Td ($0.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.24 398.25 Td ( ) Tj ET Q q 0 0 0 rg BT 509.55 398.25 Td (of ) Tj ET Q q 0 0 0 rg BT 520.20 398.25 Td (which ) Tj ET Q q 0 0 0 rg BT 546.95 398.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 386.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 92.60 386.25 Td (with ) Tj ET Q q 0 0 0 rg BT 112.39 386.25 Td (our ) Tj ET Q q 0 0 0 rg BT 127.73 386.25 Td (new ) Tj ET Q q 0 0 0 rg BT 146.40 386.25 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 176.73 386.25 Td (division, ) Tj ET Q q 0 0 0 rg BT 213.46 386.25 Td (and ) Tj ET Q q 0 0 0 rg BT 229.91 386.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 243.58 386.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.03 386.25 Td ($0.5 ) Tj ET Q q 0 0 0 rg BT 269.53 386.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.43 386.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.43 386.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.19 386.25 Td ( ) Tj ET Q q 0 0 0 rg BT 335.20 386.25 Td (in ) Tj ET Q q 0 0 0 rg BT 344.98 386.25 Td (non-variable ) Tj ET Q q 0 0 0 rg BT 397.52 386.25 Td (selling ) Tj ET Q q 0 0 0 rg BT 426.20 386.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 464.30 386.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 503.52 386.25 Td (related ) Tj ET Q q 0 0 0 rg BT 532.73 386.25 Td (to ) Tj ET Q q 0 0 0 rg BT 542.52 386.25 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 374.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 93.37 374.25 Td (with ) Tj ET Q q 0 0 0 rg BT 113.93 374.25 Td (our ) Tj ET Q q 0 0 0 rg BT 130.04 374.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 172.81 374.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 195.02 374.25 Td (of) Tj ET Q q 0 0 0 rg BT 203.17 374.25 Td (fices ) Tj ET Q q 0 0 0 rg BT 224.83 374.25 Td (and ) Tj ET Q q 0 0 0 rg BT 242.04 374.25 Td (models ) Tj ET Q q 0 0 0 rg BT 273.71 374.25 Td (as ) Tj ET Q q 0 0 0 rg BT 284.82 374.25 Td (a ) Tj ET Q q 0 0 0 rg BT 292.03 374.25 Td (result ) Tj ET Q q 0 0 0 rg BT 317.03 374.25 Td (of ) Tj ET Q q 0 0 0 rg BT 328.14 374.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.25 374.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 374.25 Td (d ) Tj ET Q q 0 0 0 rg BT 384.78 374.25 Td (community ) Tj ET Q q 0 0 0 rg BT 433.11 374.25 Td (count ) Tj ET Q q 0 0 0 rg BT 458.10 374.25 Td (related ) Tj ET Q q 0 0 0 rg BT 488.08 374.25 Td (to ) Tj ET Q q 0 0 0 rg BT 498.64 374.25 Td (our ) Tj ET Q q 0 0 0 rg BT 514.75 374.25 Td (new ) Tj ET Q q 0 0 0 rg BT 534.19 374.25 Td (Detroit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (division. ) Tj ET Q q 0 0 0 rg BT 86.56 362.25 Td ( ) Tj ET Q q 0 0 0 rg BT 88.73 362.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.61 362.25 Td ($1.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.51 362.25 Td ( ) Tj ET Q q 0 0 0 rg BT 157.84 362.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 192.93 362.25 Td (in ) Tj ET Q q 0 0 0 rg BT 203.05 362.25 Td (general ) Tj ET Q q 0 0 0 rg BT 234.81 362.25 Td (and ) Tj ET Q q 0 0 0 rg BT 251.58 362.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 311.13 362.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 345.67 362.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 385.22 362.25 Td (related ) Tj ET Q q 0 0 0 rg BT 414.76 362.25 Td (to ) Tj ET Q q 0 0 0 rg BT 424.87 362.25 Td (incremental ) Tj ET Q q 0 0 0 rg BT 474.40 362.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 496.74 362.25 Td (from ) Tj ET Q q 0 0 0 rg BT 518.52 362.25 Td (our ) Tj ET Q q 0 0 0 rg BT 534.18 362.25 Td (Detroit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 350.25 Td (acquisition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 328.25 Td (During ) Tj ET Q q 0 0 0 rg BT 80.27 328.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.92 328.25 Td (three ) Tj ET Q q 0 0 0 rg BT 117.35 328.25 Td (months ) Tj ET Q q 0 0 0 rg BT 149.24 328.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 175.55 328.25 Td (June ) Tj ET Q q 0 0 0 rg BT 196.32 328.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 211.26 328.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.26 328.25 Td (, ) Tj ET Q q 0 0 0 rg BT 236.20 328.25 Td (we ) Tj ET Q q 0 0 0 rg BT 250.30 328.25 Td (experienced ) Tj ET Q q 0 0 0 rg BT 301.04 328.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.92 328.25 Td (24%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.25 328.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.68 328.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.44 328.25 Td ( ) Tj ET Q q 0 0 0 rg BT 363.88 328.25 Td (in ) Tj ET Q q 0 0 0 rg BT 374.09 328.25 Td (new ) Tj ET Q q 0 0 0 rg BT 393.19 328.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 431.73 328.25 Td (in ) Tj ET Q q 0 0 0 rg BT 441.94 328.25 Td (our ) Tj ET Q q 0 0 0 rg BT 457.71 328.25 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 495.15 328.25 Td (region, ) Tj ET Q q 0 0 0 rg BT 525.64 328.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.52 328.25 Td (531) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 316.25 Td (in ) Tj ET Q q 0 0 0 rg BT 60.04 316.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.01 316.25 Td (second ) Tj ET Q q 0 0 0 rg BT 105.54 316.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 136.61 316.25 Td (of ) Tj ET Q q 0 0 0 rg BT 147.70 316.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.70 316.25 Td ( ) Tj ET Q q 0 0 0 rg BT 170.46 316.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.99 316.25 Td (656) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.99 316.25 Td ( ) Tj ET Q q 0 0 0 rg BT 198.75 316.25 Td (in ) Tj ET Q q 0 0 0 rg BT 209.29 316.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.26 316.25 Td (second ) Tj ET Q q 0 0 0 rg BT 254.79 316.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 285.86 316.25 Td (of ) Tj ET Q q 0 0 0 rg BT 296.95 316.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.95 316.25 Td ( ) Tj ET Q q 0 0 0 rg BT 319.71 316.25 Td (\(which ) Tj ET Q q 0 0 0 rg BT 350.23 316.25 Td (benefited ) Tj ET Q q 0 0 0 rg BT 390.19 316.25 Td (from ) Tj ET Q q 0 0 0 rg BT 412.39 316.25 Td (our ) Tj ET Q q 0 0 0 rg BT 428.48 316.25 Td (new ) Tj ET Q q 0 0 0 rg BT 447.89 316.25 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 478.98 316.25 Td (division\), ) Tj ET Q q 0 0 0 rg BT 519.79 316.25 Td (and ) Tj ET Q q 0 0 0 rg BT 536.99 316.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.18 316.25 Td (29%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 304.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 304.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.39 304.25 Td (in ) Tj ET Q q 0 0 0 rg BT 96.30 304.25 Td (backlog ) Tj ET Q q 0 0 0 rg BT 131.10 304.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.67 304.25 Td (1,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.17 304.25 Td ( ) Tj ET Q q 0 0 0 rg BT 179.31 304.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 208.55 304.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.90 304.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 255.37 304.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.37 304.25 Td ( ) Tj ET Q q 0 0 0 rg BT 278.51 304.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.42 304.25 Td (1,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.92 304.25 Td ( ) Tj ET Q q 0 0 0 rg BT 315.06 304.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 344.30 304.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.66 304.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 391.12 304.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.12 304.25 Td (. ) Tj ET Q q 0 0 0 rg BT 416.76 304.25 Td ( ) Tj ET Q q 0 0 0 rg BT 419.67 304.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.35 304.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.10 304.25 Td (s ) Tj ET Q q 0 0 0 rg BT 478.13 304.25 Td (in ) Tj ET Q q 0 0 0 rg BT 489.05 304.25 Td (new ) Tj ET Q q 0 0 0 rg BT 508.84 304.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 548.07 304.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.25 Td (backlog ) Tj ET Q q 0 0 0 rg BT 83.63 292.25 Td (were ) Tj ET Q q 0 0 0 rg BT 105.54 292.25 Td (partially ) Tj ET Q q 0 0 0 rg BT 141.34 292.25 Td (due ) Tj ET Q q 0 0 0 rg BT 158.26 292.25 Td (to ) Tj ET Q q 0 0 0 rg BT 168.52 292.25 Td (improving ) Tj ET Q q 0 0 0 rg BT 212.66 292.25 Td (demand ) Tj ET Q q 0 0 0 rg BT 246.80 292.25 Td (in ) Tj ET Q q 0 0 0 rg BT 257.06 292.25 Td (our ) Tj ET Q q 0 0 0 rg BT 272.87 292.25 Td (newer ) Tj ET Q q 0 0 0 rg BT 299.77 292.25 Td (communities ) Tj ET Q q 0 0 0 rg BT 353.91 292.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 395.82 292.25 Td (to ) Tj ET Q q 0 0 0 rg BT 406.07 292.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 427.99 292.25 Td (year ) Tj ET Q q 0 0 0 rg BT 447.68 292.25 Td (and ) Tj ET Q q 0 0 0 rg BT 464.60 292.25 Td (due ) Tj ET Q q 0 0 0 rg BT 481.51 292.25 Td (to ) Tj ET Q q 0 0 0 rg BT 491.77 292.25 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.69 292.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.44 292.25 Td ( ) Tj ET Q q 0 0 0 rg BT 538.92 292.25 Td (in ) Tj ET Q q 0 0 0 rg BT 549.18 292.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 280.25 Td (average ) Tj ET Q q 0 0 0 rg BT 81.94 280.25 Td (number ) Tj ET Q q 0 0 0 rg BT 113.83 280.25 Td (of ) Tj ET Q q 0 0 0 rg BT 123.52 280.25 Td (communities ) Tj ET Q q 0 0 0 rg BT 176.53 280.25 Td (during ) Tj ET Q q 0 0 0 rg BT 203.99 280.25 Td (the ) Tj ET Q q 0 0 0 rg BT 217.56 280.25 Td (period, ) Tj ET Q q 0 0 0 rg BT 246.95 280.25 Td (and ) Tj ET Q q 0 0 0 rg BT 262.74 280.25 Td (backlog ) Tj ET Q q 0 0 0 rg BT 295.75 280.25 Td (also ) Tj ET Q q 0 0 0 rg BT 313.21 280.25 Td (benefited ) Tj ET Q q 0 0 0 rg BT 351.76 280.25 Td (from ) Tj ET Q q 0 0 0 rg BT 372.55 280.25 Td (the ) Tj ET Q q 0 0 0 rg BT 386.12 280.25 Td (addition ) Tj ET Q q 0 0 0 rg BT 420.25 280.25 Td (of ) Tj ET Q q 0 0 0 rg BT 429.93 280.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 457.39 280.25 Td (from ) Tj ET Q q 0 0 0 rg BT 478.18 280.25 Td (our ) Tj ET Q q 0 0 0 rg BT 492.86 280.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 518.64 280.25 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 268.25 Td (of ) Tj ET Q q 0 0 0 rg BT 59.92 268.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 96.43 268.25 Td (Homes ) Tj ET Q q 0 0 0 rg BT 126.85 268.25 Td (in ) Tj ET Q q 0 0 0 rg BT 136.71 268.25 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 169.62 268.25 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 210.03 268.25 Td (on ) Tj ET Q q 0 0 0 rg BT 222.12 268.25 Td (March ) Tj ET Q q 0 0 0 rg BT 250.30 268.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 259.89 268.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 284.47 268.25 Td ( ) Tj ET Q q 0 0 0 rg BT 286.10 268.25 Td (A) Tj ET Q q 0 0 0 rg BT 292.58 268.25 Td (verage ) Tj ET Q q 0 0 0 rg BT 321.31 268.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 342.83 268.25 Td (price ) Tj ET Q q 0 0 0 rg BT 364.90 268.25 Td (in ) Tj ET Q q 0 0 0 rg BT 374.76 268.25 Td (backlog ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.50 268.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.26 268.25 Td ( ) Tj ET Q q 0 0 0 rg BT 448.34 268.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.21 268.25 Td ($420,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.71 268.25 Td ( ) Tj ET Q q 0 0 0 rg BT 497.79 268.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.09 268.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 542.51 268.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 256.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 91.77 256.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.40 256.25 Td ($401,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.90 256.25 Td ( ) Tj ET Q q 0 0 0 rg BT 142.75 256.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.81 256.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 188.99 256.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.99 256.25 Td ( ) Tj ET Q q 0 0 0 rg BT 211.84 256.25 Td (which ) Tj ET Q q 0 0 0 rg BT 239.12 256.25 Td (was ) Tj ET Q q 0 0 0 rg BT 257.52 256.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 297.58 256.25 Td (due ) Tj ET Q q 0 0 0 rg BT 314.87 256.25 Td (to ) Tj ET Q q 0 0 0 rg BT 325.50 256.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 360.55 256.25 Td (in ) Tj ET Q q 0 0 0 rg BT 371.18 256.25 Td (product ) Tj ET Q q 0 0 0 rg BT 404.57 256.25 Td (type ) Tj ET Q q 0 0 0 rg BT 424.64 256.25 Td (and ) Tj ET Q q 0 0 0 rg BT 441.93 256.25 Td (market ) Tj ET Q q 0 0 0 rg BT 472.54 256.25 Td (mix. ) Tj ET Q q 0 0 0 rg BT 493.44 256.25 Td ( ) Tj ET Q q 0 0 0 rg BT 496.29 256.25 Td (During ) Tj ET Q q 0 0 0 rg BT 527.47 256.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.53 256.25 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (months ) Tj ET Q q 0 0 0 rg BT 82.15 244.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 109.22 244.25 Td (June ) Tj ET Q q 0 0 0 rg BT 130.75 244.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 146.44 244.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.44 244.25 Td (, ) Tj ET Q q 0 0 0 rg BT 172.14 244.25 Td (we ) Tj ET Q q 0 0 0 rg BT 187.00 244.25 Td (opened ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.07 244.25 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.73 244.25 Td ( ) Tj ET Q q 0 0 0 rg BT 238.93 244.25 Td (new ) Tj ET Q q 0 0 0 rg BT 258.79 244.25 Td (communities ) Tj ET Q q 0 0 0 rg BT 313.65 244.25 Td (in ) Tj ET Q q 0 0 0 rg BT 324.62 244.25 Td (our ) Tj ET Q q 0 0 0 rg BT 341.15 244.25 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 379.35 244.25 Td (region ) Tj ET Q q 0 0 0 rg BT 408.09 244.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 450.71 244.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.69 244.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.36 244.25 Td ( ) Tj ET Q q 0 0 0 rg BT 476.55 244.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.86 244.25 Td (2017's ) Tj ET Q q 0 0 0 rg BT 534.75 244.25 Td (second ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 232.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.26 232.25 Td (. ) Tj ET Q q 0 0 0 rg BT 82.06 232.25 Td ( ) Tj ET Q q 0 0 0 rg BT 84.35 232.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 102.19 232.25 Td (monthly ) Tj ET Q q 0 0 0 rg BT 137.82 232.25 Td (absorption ) Tj ET Q q 0 0 0 rg BT 182.32 232.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 199.60 232.25 Td (in ) Tj ET Q q 0 0 0 rg BT 209.67 232.25 Td (our ) Tj ET Q q 0 0 0 rg BT 225.29 232.25 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 262.58 232.25 Td (region ) Tj ET Q q 0 0 0 rg BT 290.42 232.25 Td (declined ) Tj ET Q q 0 0 0 rg BT 326.59 232.25 Td (slightly ) Tj ET Q q 0 0 0 rg BT 358.88 232.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.95 232.25 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.45 232.25 Td ( ) Tj ET Q q 0 0 0 rg BT 383.74 232.25 Td (per ) Tj ET Q q 0 0 0 rg BT 398.80 232.25 Td (community ) Tj ET Q q 0 0 0 rg BT 446.65 232.25 Td (in ) Tj ET Q q 0 0 0 rg BT 456.72 232.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.23 232.25 Td (second ) Tj ET Q q 0 0 0 rg BT 501.29 232.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 531.89 232.25 Td (of ) Tj ET Q q 0 0 0 rg BT 542.51 232.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 220.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 91.42 220.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.70 220.25 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.20 220.25 Td ( ) Tj ET Q q 0 0 0 rg BT 116.70 220.25 Td (per ) Tj ET Q q 0 0 0 rg BT 131.97 220.25 Td (community ) Tj ET Q q 0 0 0 rg BT 180.02 220.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.30 220.25 Td (2017's ) Tj ET Q q 0 0 0 rg BT 218.49 220.25 Td (second ) Tj ET Q q 0 0 0 rg BT 248.76 220.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.53 220.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 198.25 Td (Southern ) Tj ET Q q 0 0 0 rg BT 90.42 198.25 Td (Region.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 122.37 198.25 Td ( ) Tj ET Q q 0 0 0 rg BT 124.93 198.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.49 198.25 Td (During ) Tj ET Q q 0 0 0 rg BT 158.39 198.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.17 198.25 Td (three ) Tj ET Q q 0 0 0 rg BT 195.72 198.25 Td (month ) Tj ET Q q 0 0 0 rg BT 223.84 198.25 Td (period ) Tj ET Q q 0 0 0 rg BT 251.95 198.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 278.39 198.25 Td (June ) Tj ET Q q 0 0 0 rg BT 299.28 198.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 314.34 198.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.34 198.25 Td (, ) Tj ET Q q 0 0 0 rg BT 339.41 198.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 397.52 198.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 431.73 198.25 Td (in ) Tj ET Q q 0 0 0 rg BT 442.07 198.25 Td (our ) Tj ET Q q 0 0 0 rg BT 457.97 198.25 Td (Southern ) Tj ET Q q 0 0 0 rg BT 496.64 198.25 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.75 198.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.25 Td ($58.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 186.25 Td (, ) Tj ET Q q 0 0 0 rg BT 109.24 186.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.02 186.25 Td ($178.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.91 186.25 Td ( ) Tj ET Q q 0 0 0 rg BT 194.26 186.25 Td (in ) Tj ET Q q 0 0 0 rg BT 205.38 186.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.95 186.25 Td (second ) Tj ET Q q 0 0 0 rg BT 252.06 186.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 283.72 186.25 Td (of ) Tj ET Q q 0 0 0 rg BT 295.40 186.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.40 186.25 Td ( ) Tj ET Q q 0 0 0 rg BT 318.75 186.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.87 186.25 Td ($237.6 ) Tj ET Q q 0 0 0 rg BT 360.72 186.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.61 186.25 Td ( ) Tj ET Q q 0 0 0 rg BT 392.96 186.25 Td (in ) Tj ET Q q 0 0 0 rg BT 404.08 186.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.64 186.25 Td (second ) Tj ET Q q 0 0 0 rg BT 450.76 186.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 482.42 186.25 Td (of ) Tj ET Q q 0 0 0 rg BT 494.10 186.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.10 186.25 Td (. ) Tj ET Q q 0 0 0 rg BT 519.94 186.25 Td ( ) Tj ET Q q 0 0 0 rg BT 523.05 186.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.17 186.25 Td (33%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 174.25 Td ( ) Tj ET Q q 0 0 0 rg BT 84.22 174.25 Td (in ) Tj ET Q q 0 0 0 rg BT 93.96 174.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 151.47 174.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 185.08 174.25 Td (was ) Tj ET Q q 0 0 0 rg BT 202.60 174.25 Td (the ) Tj ET Q q 0 0 0 rg BT 216.78 174.25 Td (result ) Tj ET Q q 0 0 0 rg BT 240.96 174.25 Td (of ) Tj ET Q q 0 0 0 rg BT 251.25 174.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.65 174.25 Td (28%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.98 174.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.94 174.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.70 174.25 Td ( ) Tj ET Q q 0 0 0 rg BT 312.66 174.25 Td (in ) Tj ET Q q 0 0 0 rg BT 322.40 174.25 Td (the ) Tj ET Q q 0 0 0 rg BT 336.58 174.25 Td (number ) Tj ET Q q 0 0 0 rg BT 369.09 174.25 Td (of ) Tj ET Q q 0 0 0 rg BT 379.38 174.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 407.45 174.25 Td (delivered ) Tj ET Q q 0 0 0 rg BT 446.62 174.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.95 174.25 Td (146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.95 174.25 Td ( ) Tj ET Q q 0 0 0 rg BT 466.91 174.25 Td (units\) ) Tj ET Q q 0 0 0 rg BT 491.65 174.25 Td (and ) Tj ET Q q 0 0 0 rg BT 508.05 174.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.46 174.25 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.79 174.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.75 174.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.76 162.25 Td (the ) Tj ET Q q 0 0 0 rg BT 74.45 162.25 Td (average ) Tj ET Q q 0 0 0 rg BT 108.01 162.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 129.93 162.25 Td (price ) Tj ET Q q 0 0 0 rg BT 152.39 162.25 Td (of ) Tj ET Q q 0 0 0 rg BT 163.20 162.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 191.79 162.25 Td (delivered ) Tj ET Q q 0 0 0 rg BT 231.47 162.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.80 162.25 Td ($13,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.30 162.25 Td ( ) Tj ET Q q 0 0 0 rg BT 269.78 162.25 Td (per ) Tj ET Q q 0 0 0 rg BT 285.02 162.25 Td (home ) Tj ET Q q 0 0 0 rg BT 309.72 162.25 Td (delivered\). ) Tj ET Q q 0 0 0 rg BT 355.23 162.25 Td ( ) Tj ET Q q 0 0 0 rg BT 357.71 162.25 Td (Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.17 162.25 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.60 162.25 Td ( ) Tj ET Q q 0 0 0 rg BT 432.08 162.25 Td (in ) Tj ET Q q 0 0 0 rg BT 442.34 162.25 Td (our ) Tj ET Q q 0 0 0 rg BT 458.15 162.25 Td (Southern ) Tj ET Q q 0 0 0 rg BT 496.73 162.25 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.76 162.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.25 Td ($14.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 150.25 Td ( ) Tj ET Q q 0 0 0 rg BT 106.72 150.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.50 150.25 Td ($4.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.39 150.25 Td ( ) Tj ET Q q 0 0 0 rg BT 181.72 150.25 Td (in ) Tj ET Q q 0 0 0 rg BT 192.83 150.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.38 150.25 Td (second ) Tj ET Q q 0 0 0 rg BT 239.48 150.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 271.13 150.25 Td (of ) Tj ET Q q 0 0 0 rg BT 282.79 150.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.79 150.25 Td ( ) Tj ET Q q 0 0 0 rg BT 306.12 150.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.23 150.25 Td ($19.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.13 150.25 Td ( ) Tj ET Q q 0 0 0 rg BT 374.46 150.25 Td (during ) Tj ET Q q 0 0 0 rg BT 403.90 150.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.45 150.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 451.10 150.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 478.31 150.25 Td (June ) Tj ET Q q 0 0 0 rg BT 499.97 150.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 515.80 150.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.80 150.25 Td (. ) Tj ET Q q 0 0 0 rg BT 541.63 150.25 Td ( ) Tj ET Q q 0 0 0 rg BT 544.73 150.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 138.25 Td ( ) Tj ET Q q 0 0 0 rg BT 84.53 138.25 Td (in ) Tj ET Q q 0 0 0 rg BT 94.58 138.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 134.62 138.25 Td (income ) Tj ET Q q 0 0 0 rg BT 166.33 138.25 Td (was ) Tj ET Q q 0 0 0 rg BT 184.15 138.25 Td (the ) Tj ET Q q 0 0 0 rg BT 198.64 138.25 Td (result ) Tj ET Q q 0 0 0 rg BT 223.14 138.25 Td (of ) Tj ET Q q 0 0 0 rg BT 233.74 138.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.45 138.25 Td ($19.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.34 138.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.62 138.25 Td (improvement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.94 138.25 Td ( ) Tj ET Q q 0 0 0 rg BT 352.21 138.25 Td (in ) Tj ET Q q 0 0 0 rg BT 362.27 138.25 Td (our ) Tj ET Q q 0 0 0 rg BT 377.87 138.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 401.26 138.25 Td (mar) Tj ET Q q 0 0 0 rg BT 416.63 138.25 Td (gin, ) Tj ET Q q 0 0 0 rg BT 434.18 138.25 Td (partially ) Tj ET Q q 0 0 0 rg BT 469.77 138.25 Td (of) Tj ET Q q 0 0 0 rg BT 477.92 138.25 Td (fset ) Tj ET Q q 0 0 0 rg BT 494.63 138.25 Td (by ) Tj ET Q q 0 0 0 rg BT 506.91 138.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.62 138.25 Td ($5.0million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 126.25 Td ( ) Tj ET Q q 0 0 0 rg BT 84.18 126.25 Td (in ) Tj ET Q q 0 0 0 rg BT 93.88 126.25 Td (selling, ) Tj ET Q q 0 0 0 rg BT 124.96 126.25 Td (general, ) Tj ET Q q 0 0 0 rg BT 158.81 126.25 Td (and ) Tj ET Q q 0 0 0 rg BT 175.17 126.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 234.29 126.25 Td (expense. ) Tj ET Q q 0 0 0 rg BT 270.92 126.25 Td ( ) Tj ET Q q 0 0 0 rg BT 272.71 126.25 Td (W) Tj ET Q q 0 0 0 rg BT 281.74 126.25 Td (ith ) Tj ET Q q 0 0 0 rg BT 294.22 126.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 324.46 126.25 Td (to ) Tj ET Q q 0 0 0 rg BT 334.16 126.25 Td (our ) Tj ET Q q 0 0 0 rg BT 349.41 126.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 406.88 126.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 429.92 126.25 Td (mar) Tj ET Q q 0 0 0 rg BT 445.28 126.25 Td (gin, ) Tj ET Q q 0 0 0 rg BT 462.48 126.25 Td (our ) Tj ET Q q 0 0 0 rg BT 477.74 126.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 511.33 126.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 534.36 126.25 Td (mar) Tj ET Q q 0 0 0 rg BT 549.73 126.25 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.25 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.83 114.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.30 114.25 Td ($19.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.19 114.25 Td (, ) Tj ET Q q 0 0 0 rg BT 149.17 114.25 Td (due ) Tj ET Q q 0 0 0 rg BT 166.09 114.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 205.78 114.25 Td (to ) Tj ET Q q 0 0 0 rg BT 216.04 114.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.73 114.25 Td (28%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.06 114.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.54 114.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.29 114.25 Td ( ) Tj ET Q q 0 0 0 rg BT 286.77 114.25 Td (in ) Tj ET Q q 0 0 0 rg BT 297.03 114.25 Td (the ) Tj ET Q q 0 0 0 rg BT 311.72 114.25 Td (number ) Tj ET Q q 0 0 0 rg BT 344.75 114.25 Td (of ) Tj ET Q q 0 0 0 rg BT 355.55 114.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 384.14 114.25 Td (delivered ) Tj ET Q q 0 0 0 rg BT 423.82 114.25 Td (and ) Tj ET Q q 0 0 0 rg BT 440.74 114.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.43 114.25 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.76 114.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.24 114.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.99 114.25 Td ( ) Tj ET Q q 0 0 0 rg BT 506.47 114.25 Td (in ) Tj ET Q q 0 0 0 rg BT 516.73 114.25 Td (the ) Tj ET Q q 0 0 0 rg BT 531.42 114.25 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 71.29 102.25 Td (price ) Tj ET Q q 0 0 0 rg BT 93.62 102.25 Td (of ) Tj ET Q q 0 0 0 rg BT 104.30 102.25 Td (homes ) Tj ET Q q 0 0 0 rg BT 132.76 102.25 Td (delivered ) Tj ET Q q 0 0 0 rg BT 172.31 102.25 Td (noted ) Tj ET Q q 0 0 0 rg BT 196.87 102.25 Td (above, ) Tj ET Q q 0 0 0 rg BT 225.60 102.25 Td (in ) Tj ET Q q 0 0 0 rg BT 235.73 102.25 Td (addition ) Tj ET Q q 0 0 0 rg BT 270.85 102.25 Td (to ) Tj ET Q q 0 0 0 rg BT 280.97 102.25 Td (the ) Tj ET Q q 0 0 0 rg BT 295.54 102.25 Td (absence ) Tj ET Q q 0 0 0 rg BT 329.53 102.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.21 102.25 Td ($8.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.10 102.25 Td ( ) Tj ET Q q 0 0 0 rg BT 391.45 102.25 Td (in ) Tj ET Q q 0 0 0 rg BT 401.58 102.25 Td (char) Tj ET Q q 0 0 0 rg BT 418.61 102.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 434.29 102.25 Td (for ) Tj ET Q q 0 0 0 rg BT 448.29 102.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 506.72 102.25 Td (repair ) Tj ET Q q 0 0 0 rg BT 532.39 102.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 554.73 102.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 78.12 90.25 Td (of ) Tj ET Q q 0 0 0 rg BT 87.86 90.25 Td (our ) Tj ET Q q 0 0 0 rg BT 102.61 90.25 Td (Florida ) Tj ET Q q 0 0 0 rg BT 132.91 90.25 Td (communities ) Tj ET Q q 0 0 0 rg BT 185.98 90.25 Td (taken ) Tj ET Q q 0 0 0 rg BT 209.05 90.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.58 90.25 Td (2017's ) Tj ET Q q 0 0 0 rg BT 263.69 90.25 Td (second ) Tj ET Q q 0 0 0 rg BT 292.87 90.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.19 90.25 Td ( ) Tj ET Q q 0 0 0 rg BT 322.60 90.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 335.68 90.25 Td (more ) Tj ET Q q 0 0 0 rg BT 357.64 90.25 Td (fully ) Tj ET Q q 0 0 0 rg BT 377.94 90.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 417.68 90.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 426.8779296875 88.9169921875 m 452.7314453125 88.9169921875 l s q 0 0 1 rg BT 426.88 90.25 Td (Note ) Tj ET Q q 0 0 1 rg BT 447.73 90.25 Td (6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 452.73 90.25 Td ( ) Tj ET Q q 0 0 0 rg BT 454.15 90.25 Td (to ) Tj ET Q q 0 0 0 rg BT 463.34 90.25 Td (our ) Tj ET Q q 0 0 0 rg BT 478.08 90.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 514.48 90.25 Td (statements\). ) Tj ET Q q 0 0 0 rg BT 565.02 90.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.13 78.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 100.88 78.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 124.07 78.25 Td (mar) Tj ET Q q 0 0 0 rg BT 139.44 78.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 154.30 78.25 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.68 78.25 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 78.25 Td ( ) Tj ET Q q 0 0 0 rg BT 240.08 78.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.60 78.25 Td (13.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.43 78.25 Td ( ) Tj ET Q q 0 0 0 rg BT 289.51 78.25 Td (in ) Tj ET Q q 0 0 0 rg BT 299.36 78.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 320.88 78.25 Td (year) Tj ET Q q 0 0 0 rg BT 338.46 78.25 Td () Tj ET Q q 0 0 0 rg BT 341.24 78.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.21 78.25 Td (second ) Tj ET Q q 0 0 0 rg BT 377.06 78.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.37 78.25 Td ( ) Tj ET Q q 0 0 0 rg BT 407.45 78.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.31 78.25 Td (18.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.14 78.25 Td ( ) Tj ET Q q 0 0 0 rg BT 445.22 78.25 Td (in ) Tj ET Q q 0 0 0 rg BT 455.08 78.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.37 78.25 Td (second ) Tj ET Q q 0 0 0 rg BT 499.22 78.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 529.61 78.25 Td (of ) Tj ET Q q 0 0 0 rg BT 540.02 78.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.02 78.25 Td (. ) Tj ET Q q 0 0 0 rg BT 565.02 78.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.25 Td (Exclusive ) Tj ET Q q 0 0 0 rg BT 91.29 66.25 Td (of ) Tj ET Q q 0 0 0 rg BT 101.97 66.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.54 66.25 Td ($8.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.43 66.25 Td ( ) Tj ET Q q 0 0 0 rg BT 167.79 66.25 Td (char) Tj ET Q q 0 0 0 rg BT 184.81 66.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 196.60 66.25 Td (for ) Tj ET Q q 0 0 0 rg BT 210.62 66.25 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 269.05 66.25 Td (repair ) Tj ET Q q 0 0 0 rg BT 294.72 66.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 317.07 66.25 Td (taken ) Tj ET Q q 0 0 0 rg BT 341.08 66.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.54 66.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 391.34 66.25 Td (year's ) Tj ET Q q 0 0 0 rg BT 416.59 66.25 Td (second ) Tj ET Q q 0 0 0 rg BT 446.71 66.25 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.63 66.25 Td (, ) Tj ET Q q 0 0 0 rg BT 479.48 66.25 Td (our ) Tj ET Q q 0 0 0 rg BT 495.16 66.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 530.84 66.25 Td (housing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 54.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 73.36 54.25 Td (mar) Tj ET Q q 0 0 0 rg BT 88.73 54.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 104.25 54.25 Td (percentage ) Tj ET Q q 0 0 0 rg BT 150.30 54.25 Td (improved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.37 54.25 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.37 54.25 Td ( ) Tj ET Q q 0 0 0 rg BT 204.11 54.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 226.86 54.25 Td (points ) Tj ET Q q 0 0 0 rg BT 254.05 54.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.24 54.25 Td (18.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.07 54.25 Td ( ) Tj ET Q q 0 0 0 rg BT 304.81 54.25 Td (in ) Tj ET Q q 0 0 0 rg BT 315.33 54.25 Td (the ) Tj ET Q q 0 0 0 rg BT 330.30 54.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 352.48 54.25 Td (year ) Tj ET Q q 0 0 0 rg BT 372.43 54.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.96 54.25 Td (18.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.79 54.25 Td ( ) Tj ET Q q 0 0 0 rg BT 411.53 54.25 Td (in ) Tj ET Q q 0 0 0 rg BT 422.06 54.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.02 54.25 Td (second ) Tj ET Q q 0 0 0 rg BT 467.53 54.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 498.60 54.25 Td (of ) Tj ET Q q 0 0 0 rg BT 509.67 54.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.67 54.25 Td (, ) Tj ET Q q 0 0 0 rg BT 534.92 54.25 Td (lar) Tj ET Q q 0 0 0 rg BT 545.28 54.25 Td (gely ) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (due ) Tj ET Q q 0 0 0 rg BT 66.70 740.10 Td (to ) Tj ET Q q 0 0 0 rg BT 77.24 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.22 740.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 110.54 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 121.64 740.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 176.06 740.10 Td (delivering ) Tj ET Q q 0 0 0 rg BT 219.37 740.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 248.24 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 265.44 740.10 Td (a ) Tj ET Q q 0 0 0 rg BT 272.64 740.10 Td (more ) Tj ET Q q 0 0 0 rg BT 295.96 740.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 336.47 740.10 Td (product ) Tj ET Q q 0 0 0 rg BT 369.78 740.10 Td (mix, ) Tj ET Q q 0 0 0 rg BT 390.60 740.10 Td (of) Tj ET Q q 0 0 0 rg BT 398.75 740.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 415.96 740.10 Td (in ) Tj ET Q q 0 0 0 rg BT 426.50 740.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 447.31 740.10 Td (by ) Tj ET Q q 0 0 0 rg BT 460.07 740.10 Td (rising ) Tj ET Q q 0 0 0 rg BT 485.61 740.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 498.93 740.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 524.20 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 526.96 740.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 545.28 740.10 Td (land ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 67.55 728.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 91.16 728.10 Td (mar) Tj ET Q q 0 0 0 rg BT 106.53 728.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 121.80 728.10 Td (remained ) Tj ET Q q 0 0 0 rg BT 161.51 728.10 Td (flat ) Tj ET Q q 0 0 0 rg BT 177.33 728.10 Td (in ) Tj ET Q q 0 0 0 rg BT 187.61 728.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.33 728.10 Td (second ) Tj ET Q q 0 0 0 rg BT 232.60 728.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 263.41 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.24 728.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.24 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 296.74 728.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 338.67 728.10 Td (to ) Tj ET Q q 0 0 0 rg BT 348.94 728.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.66 728.10 Td (second ) Tj ET Q q 0 0 0 rg BT 393.93 728.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 424.74 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 435.57 728.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.57 728.10 Td (. ) Tj ET Q q 0 0 0 rg BT 460.57 728.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.10 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 81.83 706.10 Td (general ) Tj ET Q q 0 0 0 rg BT 112.74 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 128.67 706.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 187.37 706.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.06 706.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.82 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.31 706.10 Td ($5.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.20 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 310.69 706.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.62 706.10 Td ($20.2 ) Tj ET Q q 0 0 0 rg BT 355.61 706.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.50 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 385.99 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 395.26 706.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.97 706.10 Td (second ) Tj ET Q q 0 0 0 rg BT 438.23 706.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 468.04 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 477.86 706.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.86 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 499.35 706.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.62 706.10 Td ($25.2million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.99 694.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.92 694.10 Td (second ) Tj ET Q q 0 0 0 rg BT 105.41 694.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 136.43 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.48 694.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.48 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.19 694.10 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.68 694.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.56 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 222.27 694.10 Td (as ) Tj ET Q q 0 0 0 rg BT 233.31 694.10 Td (a ) Tj ET Q q 0 0 0 rg BT 240.47 694.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 286.48 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 297.53 694.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 331.88 694.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.38 694.10 Td (10.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.21 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 370.92 694.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.07 694.10 Td (1) Tj ET Q q 0 0 0 rg BT 397.70 694.10 Td (1.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.53 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 421.25 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 431.74 694.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.67 694.10 Td (second ) Tj ET Q q 0 0 0 rg BT 477.15 694.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 508.18 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 519.22 694.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.22 694.10 Td (. ) Tj ET Q q 0 0 0 rg BT 544.44 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.96 694.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 84.79 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 95.11 682.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 126.81 682.10 Td (general ) Tj ET Q q 0 0 0 rg BT 158.77 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 175.74 682.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 235.49 682.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 270.23 682.10 Td (was ) Tj ET Q q 0 0 0 rg BT 288.32 682.10 Td (attributable, ) Tj ET Q q 0 0 0 rg BT 338.89 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 349.21 682.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 369.79 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 380.11 682.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.08 682.10 Td ($3.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.97 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.51 682.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.26 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 473.80 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 484.11 682.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 513.32 682.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 548.06 682.10 Td (due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.01 670.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 74.41 670.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.58 670.10 Td ($2.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.48 670.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.21 670.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.97 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 168.70 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 179.22 670.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 214.15 670.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 243.55 670.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 282.39 670.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 320.12 670.10 Td (from ) Tj ET Q q 0 0 0 rg BT 342.29 670.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 381.68 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 392.19 670.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 414.36 670.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 469.33 670.10 Td (produced ) Tj ET Q q 0 0 0 rg BT 509.27 670.10 Td (by ) Tj ET Q q 0 0 0 rg BT 522.01 670.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.96 670.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.10 Td (number ) Tj ET Q q 0 0 0 rg BT 83.28 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.84 658.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 124.18 658.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 164.62 658.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.29 658.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.83 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.07 658.10 Td (average ) Tj ET Q q 0 0 0 rg BT 245.38 658.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 268.05 658.10 Td (price ) Tj ET Q q 0 0 0 rg BT 291.27 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 302.83 658.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 332.18 658.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 372.61 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 390.28 658.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 405.17 658.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.84 658.10 Td ($0.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.74 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.97 658.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.72 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 500.96 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 511.97 658.10 Td (non-variable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 79.12 646.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 118.17 646.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 158.33 646.10 Td (related ) Tj ET Q q 0 0 0 rg BT 188.49 646.10 Td (to ) Tj ET Q q 0 0 0 rg BT 199.22 646.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 222.17 646.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 266.22 646.10 Td (with ) Tj ET Q q 0 0 0 rg BT 286.95 646.10 Td (our ) Tj ET Q q 0 0 0 rg BT 303.24 646.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 325.63 646.10 Td (of) Tj ET Q q 0 0 0 rg BT 333.78 646.10 Td (fices ) Tj ET Q q 0 0 0 rg BT 355.61 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 373.00 646.10 Td (models ) Tj ET Q q 0 0 0 rg BT 404.84 646.10 Td (as ) Tj ET Q q 0 0 0 rg BT 416.12 646.10 Td (a ) Tj ET Q q 0 0 0 rg BT 423.51 646.10 Td (result ) Tj ET Q q 0 0 0 rg BT 448.68 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 459.97 646.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.25 646.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 646.10 Td (d ) Tj ET Q q 0 0 0 rg BT 516.96 646.10 Td (community ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.10 Td (count. ) Tj ET Q q 0 0 0 rg BT 76.70 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 79.01 634.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.04 634.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.80 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 132.28 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 142.55 634.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 174.20 634.10 Td (general ) Tj ET Q q 0 0 0 rg BT 206.11 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 223.04 634.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 282.73 634.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 317.43 634.10 Td (was ) Tj ET Q q 0 0 0 rg BT 335.46 634.10 Td (also ) Tj ET Q q 0 0 0 rg BT 354.06 634.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 402.08 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 412.35 634.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.27 634.10 Td ($1.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.17 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 634.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.41 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.89 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 516.16 634.10 Td (general ) Tj ET Q q 0 0 0 rg BT 548.07 634.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 109.16 622.10 Td (expense, ) Tj ET Q q 0 0 0 rg BT 146.33 622.10 Td (which ) Tj ET Q q 0 0 0 rg BT 173.23 622.10 Td (was ) Tj ET Q q 0 0 0 rg BT 191.23 622.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 230.90 622.10 Td (related ) Tj ET Q q 0 0 0 rg BT 260.56 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 270.80 622.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.70 622.10 Td ($0.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.59 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.04 622.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.80 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 364.26 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 374.49 622.10 Td (professional ) Tj ET Q q 0 0 0 rg BT 425.83 622.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 444.38 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 461.28 622.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.17 622.10 Td ($0.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.07 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.52 622.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.28 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.73 622.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.10 Td (land ) Tj ET Q q 0 0 0 rg BT 69.22 610.10 Td (related ) Tj ET Q q 0 0 0 rg BT 98.92 610.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 140.02 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.96 610.10 Td (other ) Tj ET Q q 0 0 0 rg BT 180.00 610.10 Td (miscellaneous ) Tj ET Q q 0 0 0 rg BT 239.15 610.10 Td (expenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 588.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.22 588.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.82 588.10 Td (three ) Tj ET Q q 0 0 0 rg BT 117.19 588.10 Td (months ) Tj ET Q q 0 0 0 rg BT 149.02 588.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 175.28 588.10 Td (June ) Tj ET Q q 0 0 0 rg BT 196.00 588.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 210.88 588.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.88 588.10 Td (, ) Tj ET Q q 0 0 0 rg BT 235.77 588.10 Td (we ) Tj ET Q q 0 0 0 rg BT 249.81 588.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 300.50 588.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.32 588.10 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 588.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.04 588.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.79 588.10 Td ( ) Tj ET Q q 0 0 0 rg BT 363.18 588.10 Td (in ) Tj ET Q q 0 0 0 rg BT 373.34 588.10 Td (new ) Tj ET Q q 0 0 0 rg BT 392.39 588.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 430.87 588.10 Td (in ) Tj ET Q q 0 0 0 rg BT 441.03 588.10 Td (our ) Tj ET Q q 0 0 0 rg BT 456.75 588.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 495.24 588.10 Td (region, ) Tj ET Q q 0 0 0 rg BT 525.67 588.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.50 588.10 Td (625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.50 588.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 576.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.97 576.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.87 576.10 Td (second ) Tj ET Q q 0 0 0 rg BT 105.33 576.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 136.34 576.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.36 576.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.36 576.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.05 576.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.51 576.10 Td (753) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.51 576.10 Td ( ) Tj ET Q q 0 0 0 rg BT 198.20 576.10 Td (for ) Tj ET Q q 0 0 0 rg BT 212.55 576.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.46 576.10 Td (second ) Tj ET Q q 0 0 0 rg BT 257.92 576.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 288.92 576.10 Td (of ) Tj ET Q q 0 0 0 rg BT 299.94 576.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.94 576.10 Td (, ) Tj ET Q q 0 0 0 rg BT 325.13 576.10 Td (and ) Tj ET Q q 0 0 0 rg BT 342.26 576.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.39 576.10 Td (32%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.72 576.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.41 576.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.16 576.10 Td ( ) Tj ET Q q 0 0 0 rg BT 405.85 576.10 Td (in ) Tj ET Q q 0 0 0 rg BT 416.32 576.10 Td (backlog ) Tj ET Q q 0 0 0 rg BT 450.66 576.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.79 576.10 Td (950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.79 576.10 Td ( ) Tj ET Q q 0 0 0 rg BT 490.48 576.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 519.28 576.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.18 576.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 564.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 564.10 Td ( ) Tj ET Q q 0 0 0 rg BT 71.31 564.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.90 564.10 Td (1,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.40 564.10 Td ( ) Tj ET Q q 0 0 0 rg BT 105.21 564.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 133.13 564.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.16 564.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 177.30 564.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.30 564.10 Td (. ) Tj ET Q q 0 0 0 rg BT 201.61 564.10 Td ( ) Tj ET Q q 0 0 0 rg BT 203.29 564.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.64 564.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.40 564.10 Td (s ) Tj ET Q q 0 0 0 rg BT 259.10 564.10 Td (in ) Tj ET Q q 0 0 0 rg BT 268.69 564.10 Td (new ) Tj ET Q q 0 0 0 rg BT 287.16 564.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 325.06 564.10 Td (and ) Tj ET Q q 0 0 0 rg BT 341.31 564.10 Td (backlog ) Tj ET Q q 0 0 0 rg BT 374.78 564.10 Td (were ) Tj ET Q q 0 0 0 rg BT 396.02 564.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 435.04 564.10 Td (due ) Tj ET Q q 0 0 0 rg BT 451.29 564.10 Td (to ) Tj ET Q q 0 0 0 rg BT 460.88 564.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.13 564.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.88 564.10 Td ( ) Tj ET Q q 0 0 0 rg BT 506.69 564.10 Td (in ) Tj ET Q q 0 0 0 rg BT 516.28 564.10 Td (our ) Tj ET Q q 0 0 0 rg BT 531.42 564.10 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 552.10 Td (number ) Tj ET Q q 0 0 0 rg BT 82.42 552.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.13 552.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 147.16 552.10 Td (during ) Tj ET Q q 0 0 0 rg BT 175.64 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.23 552.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 220.66 552.10 Td (along ) Tj ET Q q 0 0 0 rg BT 245.25 552.10 Td (with ) Tj ET Q q 0 0 0 rg BT 265.40 552.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 321.10 552.10 Td (in ) Tj ET Q q 0 0 0 rg BT 331.25 552.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 365.28 552.10 Td (across ) Tj ET Q q 0 0 0 rg BT 392.64 552.10 Td (our ) Tj ET Q q 0 0 0 rg BT 408.35 552.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 446.83 552.10 Td (markets. ) Tj ET Q q 0 0 0 rg BT 483.36 552.10 Td ( ) Tj ET Q q 0 0 0 rg BT 485.21 552.10 Td (A) Tj ET Q q 0 0 0 rg BT 491.69 552.10 Td (verage ) Tj ET Q q 0 0 0 rg BT 520.71 552.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 542.52 552.10 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 540.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.29 540.10 Td (backlog ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.96 540.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.71 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 132.73 540.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.52 540.10 Td ($363,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.02 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 182.03 540.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.26 540.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 226.60 540.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.60 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 248.62 540.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.07 540.10 Td ($347,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.57 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 309.58 540.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.81 540.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 354.16 540.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.16 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 376.17 540.10 Td (due ) Tj ET Q q 0 0 0 rg BT 392.62 540.10 Td (to ) Tj ET Q q 0 0 0 rg BT 402.41 540.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 436.63 540.10 Td (in ) Tj ET Q q 0 0 0 rg BT 446.42 540.10 Td (product ) Tj ET Q q 0 0 0 rg BT 478.98 540.10 Td (type ) Tj ET Q q 0 0 0 rg BT 498.21 540.10 Td (and ) Tj ET Q q 0 0 0 rg BT 514.67 540.10 Td (market ) Tj ET Q q 0 0 0 rg BT 544.44 540.10 Td (mix. ) Tj ET Q q 0 0 0 rg BT 565.00 540.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 528.10 Td (During ) Tj ET Q q 0 0 0 rg BT 79.95 528.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.29 528.10 Td (three ) Tj ET Q q 0 0 0 rg BT 116.40 528.10 Td (months ) Tj ET Q q 0 0 0 rg BT 147.97 528.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 173.97 528.10 Td (June ) Tj ET Q q 0 0 0 rg BT 194.42 528.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 209.04 528.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.04 528.10 Td (, ) Tj ET Q q 0 0 0 rg BT 233.66 528.10 Td (we ) Tj ET Q q 0 0 0 rg BT 247.44 528.10 Td (opened ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.44 528.10 Td (ten) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.66 528.10 Td ( ) Tj ET Q q 0 0 0 rg BT 292.78 528.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 346.56 528.10 Td (in ) Tj ET Q q 0 0 0 rg BT 356.46 528.10 Td (our ) Tj ET Q q 0 0 0 rg BT 371.91 528.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 410.14 528.10 Td (region ) Tj ET Q q 0 0 0 rg BT 437.81 528.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 479.36 528.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.26 528.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.47 528.10 Td ( ) Tj ET Q q 0 0 0 rg BT 508.59 528.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.82 528.10 Td (2017's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 516.10 Td (second ) Tj ET Q q 0 0 0 rg BT 79.43 516.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.19 516.10 Td (. ) Tj ET Q q 0 0 0 rg BT 111.85 516.10 Td ( ) Tj ET Q q 0 0 0 rg BT 114.01 516.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 131.72 516.10 Td (monthly ) Tj ET Q q 0 0 0 rg BT 167.22 516.10 Td (absorption ) Tj ET Q q 0 0 0 rg BT 211.59 516.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 228.74 516.10 Td (in ) Tj ET Q q 0 0 0 rg BT 238.68 516.10 Td (our ) Tj ET Q q 0 0 0 rg BT 254.17 516.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 292.43 516.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.14 516.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.90 516.10 Td ( ) Tj ET Q q 0 0 0 rg BT 360.05 516.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.99 516.10 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.49 516.10 Td ( ) Tj ET Q q 0 0 0 rg BT 384.65 516.10 Td (per ) Tj ET Q q 0 0 0 rg BT 399.58 516.10 Td (community ) Tj ET Q q 0 0 0 rg BT 447.29 516.10 Td (in ) Tj ET Q q 0 0 0 rg BT 457.23 516.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.61 516.10 Td (second ) Tj ET Q q 0 0 0 rg BT 501.53 516.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 532.01 516.10 Td (of ) Tj ET Q q 0 0 0 rg BT 542.50 516.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 504.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.44 504.10 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.94 504.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.44 504.10 Td (per ) Tj ET Q q 0 0 0 rg BT 101.71 504.10 Td (community ) Tj ET Q q 0 0 0 rg BT 149.76 504.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.04 504.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.75 504.10 Td (second ) Tj ET Q q 0 0 0 rg BT 205.02 504.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 235.84 504.10 Td (of ) Tj ET Q q 0 0 0 rg BT 246.67 504.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.67 504.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 482.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 105.42 482.10 Td (Region. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 140.51 482.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.65 482.10 Td (During ) Tj ET Q q 0 0 0 rg BT 175.12 482.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.48 482.10 Td (three ) Tj ET Q q 0 0 0 rg BT 213.60 482.10 Td (month ) Tj ET Q q 0 0 0 rg BT 242.30 482.10 Td (period ) Tj ET Q q 0 0 0 rg BT 270.98 482.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 298.00 482.10 Td (June ) Tj ET Q q 0 0 0 rg BT 319.47 482.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 335.11 482.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.11 482.10 Td (, ) Tj ET Q q 0 0 0 rg BT 360.75 482.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 419.44 482.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 454.23 482.10 Td (in ) Tj ET Q q 0 0 0 rg BT 465.14 482.10 Td (our ) Tj ET Q q 0 0 0 rg BT 481.61 482.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 536.97 482.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 470.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.91 470.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.81 470.10 Td ($16.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.70 470.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.60 470.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.93 470.10 Td ($97.7 ) Tj ET Q q 0 0 0 rg BT 196.33 470.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.22 470.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.11 470.10 Td (in ) Tj ET Q q 0 0 0 rg BT 238.79 470.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.90 470.10 Td (second ) Tj ET Q q 0 0 0 rg BT 284.56 470.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 315.77 470.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.00 470.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 470.10 Td ( ) Tj ET Q q 0 0 0 rg BT 349.90 470.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.57 470.10 Td ($81.7 ) Tj ET Q q 0 0 0 rg BT 385.96 470.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.86 470.10 Td ( ) Tj ET Q q 0 0 0 rg BT 417.75 470.10 Td (in ) Tj ET Q q 0 0 0 rg BT 428.43 470.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.54 470.10 Td (second ) Tj ET Q q 0 0 0 rg BT 474.20 470.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 505.41 470.10 Td (of ) Tj ET Q q 0 0 0 rg BT 516.64 470.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.64 470.10 Td (. ) Tj ET Q q 0 0 0 rg BT 542.03 470.10 Td ( ) Tj ET Q q 0 0 0 rg BT 544.72 470.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 458.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.83 458.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.54 458.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.96 458.10 Td ( ) Tj ET Q q 0 0 0 rg BT 107.67 458.10 Td (in ) Tj ET Q q 0 0 0 rg BT 118.17 458.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 176.43 458.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 210.79 458.10 Td (was ) Tj ET Q q 0 0 0 rg BT 229.06 458.10 Td (the ) Tj ET Q q 0 0 0 rg BT 243.99 458.10 Td (result ) Tj ET Q q 0 0 0 rg BT 268.92 458.10 Td (of ) Tj ET Q q 0 0 0 rg BT 279.97 458.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.12 458.10 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.45 458.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.17 458.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.58 458.10 Td ( ) Tj ET Q q 0 0 0 rg BT 345.30 458.10 Td (in ) Tj ET Q q 0 0 0 rg BT 355.79 458.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.72 458.10 Td (number ) Tj ET Q q 0 0 0 rg BT 403.98 458.10 Td (of ) Tj ET Q q 0 0 0 rg BT 415.03 458.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 443.85 458.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 483.77 458.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 458.10 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.10 458.10 Td ( ) Tj ET Q q 0 0 0 rg BT 499.81 458.10 Td (units\) ) Tj ET Q q 0 0 0 rg BT 525.31 458.10 Td (primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 446.10 Td (due ) Tj ET Q q 0 0 0 rg BT 67.19 446.10 Td (to ) Tj ET Q q 0 0 0 rg BT 78.22 446.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.91 446.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.33 446.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.58 446.10 Td (in ) Tj ET Q q 0 0 0 rg BT 134.61 446.10 Td (the ) Tj ET Q q 0 0 0 rg BT 150.08 446.10 Td (average ) Tj ET Q q 0 0 0 rg BT 184.41 446.10 Td (number ) Tj ET Q q 0 0 0 rg BT 218.21 446.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.79 446.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 284.71 446.10 Td (during ) Tj ET Q q 0 0 0 rg BT 314.07 446.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.53 446.10 Td (period ) Tj ET Q q 0 0 0 rg BT 358.33 446.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 401.01 446.10 Td (to ) Tj ET Q q 0 0 0 rg BT 412.04 446.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 434.73 446.10 Td (year ) Tj ET Q q 0 0 0 rg BT 455.19 446.10 Td (as ) Tj ET Q q 0 0 0 rg BT 466.77 446.10 Td (a ) Tj ET Q q 0 0 0 rg BT 474.46 446.10 Td (result ) Tj ET Q q 0 0 0 rg BT 499.93 446.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.51 446.10 Td (delayed ) Tj ET Q q 0 0 0 rg BT 545.86 446.10 Td (new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 434.10 Td (replacement ) Tj ET Q q 0 0 0 rg BT 101.01 434.10 Td (community ) Tj ET Q q 0 0 0 rg BT 149.22 434.10 Td (openings, ) Tj ET Q q 0 0 0 rg BT 190.49 434.10 Td (of) Tj ET Q q 0 0 0 rg BT 198.64 434.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 215.73 434.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 251.71 434.10 Td (by ) Tj ET Q q 0 0 0 rg BT 264.36 434.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.46 434.10 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.79 434.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.44 434.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.20 434.10 Td ( ) Tj ET Q q 0 0 0 rg BT 327.85 434.10 Td (in ) Tj ET Q q 0 0 0 rg BT 338.29 434.10 Td (the ) Tj ET Q q 0 0 0 rg BT 353.16 434.10 Td (average ) Tj ET Q q 0 0 0 rg BT 386.90 434.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 409.00 434.10 Td (price ) Tj ET Q q 0 0 0 rg BT 431.64 434.10 Td (of ) Tj ET Q q 0 0 0 rg BT 442.63 434.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 471.39 434.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 511.25 434.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.58 434.10 Td ($50,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.08 434.10 Td ( ) Tj ET Q q 0 0 0 rg BT 549.73 434.10 Td (per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 422.10 Td (home ) Tj ET Q q 0 0 0 rg BT 74.48 422.10 Td (delivered\). ) Tj ET Q q 0 0 0 rg BT 120.28 422.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.05 422.10 Td (Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.80 422.10 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.23 422.10 Td ( ) Tj ET Q q 0 0 0 rg BT 198.00 422.10 Td (in ) Tj ET Q q 0 0 0 rg BT 208.54 422.10 Td (our ) Tj ET Q q 0 0 0 rg BT 224.64 422.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 279.62 422.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.93 422.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.34 422.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.11 422.10 Td ($4.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 422.10 Td (, ) Tj ET Q q 0 0 0 rg BT 404.27 422.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.47 422.10 Td ($9.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.36 422.10 Td ( ) Tj ET Q q 0 0 0 rg BT 478.13 422.10 Td (in ) Tj ET Q q 0 0 0 rg BT 488.67 422.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.66 422.10 Td (second ) Tj ET Q q 0 0 0 rg BT 534.19 422.10 Td (quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 410.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.68 410.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.68 410.10 Td ( ) Tj ET Q q 0 0 0 rg BT 83.54 410.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.17 410.10 Td ($5.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.06 410.10 Td ( ) Tj ET Q q 0 0 0 rg BT 145.91 410.10 Td (during ) Tj ET Q q 0 0 0 rg BT 174.87 410.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.94 410.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 221.11 410.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 247.84 410.10 Td (June ) Tj ET Q q 0 0 0 rg BT 269.02 410.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 284.38 410.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.38 410.10 Td (. ) Tj ET Q q 0 0 0 rg BT 309.73 410.10 Td ( ) Tj ET Q q 0 0 0 rg BT 312.38 410.10 Td (This ) Tj ET Q q 0 0 0 rg BT 333.01 410.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 364.73 410.10 Td (in ) Tj ET Q q 0 0 0 rg BT 375.37 410.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 415.98 410.10 Td (income ) Tj ET Q q 0 0 0 rg BT 448.27 410.10 Td (was ) Tj ET Q q 0 0 0 rg BT 466.67 410.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 506.74 410.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.81 410.10 Td (result ) Tj ET Q q 0 0 0 rg BT 546.88 410.10 Td (of ) Tj ET Q q 0 0 0 rg BT 558.06 410.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 398.10 Td ($5.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 398.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.36 398.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.78 398.10 Td ( ) Tj ET Q q 0 0 0 rg BT 136.75 398.10 Td (in ) Tj ET Q q 0 0 0 rg BT 146.49 398.10 Td (our ) Tj ET Q q 0 0 0 rg BT 161.79 398.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 184.88 398.10 Td (mar) Tj ET Q q 0 0 0 rg BT 200.24 398.10 Td (gin, ) Tj ET Q q 0 0 0 rg BT 217.49 398.10 Td (of) Tj ET Q q 0 0 0 rg BT 225.64 398.10 Td (fset, ) Tj ET Q q 0 0 0 rg BT 244.55 398.10 Td (in ) Tj ET Q q 0 0 0 rg BT 254.30 398.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 274.32 398.10 Td (by ) Tj ET Q q 0 0 0 rg BT 286.29 398.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.70 398.10 Td ($0.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.59 398.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.56 398.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.97 398.10 Td ( ) Tj ET Q q 0 0 0 rg BT 379.94 398.10 Td (in ) Tj ET Q q 0 0 0 rg BT 389.69 398.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 420.83 398.10 Td (general ) Tj ET Q q 0 0 0 rg BT 452.22 398.10 Td (and ) Tj ET Q q 0 0 0 rg BT 468.63 398.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 527.81 398.10 Td (expense. ) Tj ET Q q 0 0 0 rg BT 565.01 398.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 386.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.54 386.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 71.73 386.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 102.67 386.10 Td (to ) Tj ET Q q 0 0 0 rg BT 113.08 386.10 Td (our ) Tj ET Q q 0 0 0 rg BT 129.04 386.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 187.22 386.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 210.97 386.10 Td (mar) Tj ET Q q 0 0 0 rg BT 226.33 386.10 Td (gin, ) Tj ET Q q 0 0 0 rg BT 244.24 386.10 Td (our ) Tj ET Q q 0 0 0 rg BT 260.21 386.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 294.51 386.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 318.25 386.10 Td (mar) Tj ET Q q 0 0 0 rg BT 333.62 386.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.03 386.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.90 386.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.53 386.10 Td ($5.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.42 386.10 Td (, ) Tj ET Q q 0 0 0 rg BT 439.55 386.10 Td (due ) Tj ET Q q 0 0 0 rg BT 456.62 386.10 Td (to ) Tj ET Q q 0 0 0 rg BT 467.03 386.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.88 386.10 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.21 386.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.84 386.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.25 386.10 Td ( ) Tj ET Q q 0 0 0 rg BT 539.88 386.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 386.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 374.10 Td (number ) Tj ET Q q 0 0 0 rg BT 83.85 374.10 Td (of ) Tj ET Q q 0 0 0 rg BT 95.99 374.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 125.91 374.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 166.92 374.10 Td (noted ) Tj ET Q q 0 0 0 rg BT 192.94 374.10 Td (above ) Tj ET Q q 0 0 0 rg BT 220.63 374.10 Td (and ) Tj ET Q q 0 0 0 rg BT 238.87 374.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.12 374.10 Td (decline) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.99 374.10 Td ( ) Tj ET Q q 0 0 0 rg BT 279.80 374.10 Td (in ) Tj ET Q q 0 0 0 rg BT 291.38 374.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 326.86 374.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 351.78 374.10 Td (mar) Tj ET Q q 0 0 0 rg BT 367.15 374.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 383.74 374.10 Td (percentage, ) Tj ET Q q 0 0 0 rg BT 433.34 374.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 470.47 374.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 519.82 374.10 Td (to ) Tj ET Q q 0 0 0 rg BT 531.40 374.10 Td (delayed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 362.10 Td (replacement ) Tj ET Q q 0 0 0 rg BT 101.63 362.10 Td (community ) Tj ET Q q 0 0 0 rg BT 150.46 362.10 Td (openings. ) Tj ET Q q 0 0 0 rg BT 192.35 362.10 Td ( ) Tj ET Q q 0 0 0 rg BT 195.62 362.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 214.45 362.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 249.40 362.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 273.79 362.10 Td (mar) Tj ET Q q 0 0 0 rg BT 289.15 362.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 305.21 362.10 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.79 362.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.66 362.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.93 362.10 Td (260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.93 362.10 Td ( ) Tj ET Q q 0 0 0 rg BT 407.21 362.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 430.49 362.10 Td (points ) Tj ET Q q 0 0 0 rg BT 458.21 362.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.93 362.10 Td (19.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.76 362.10 Td ( ) Tj ET Q q 0 0 0 rg BT 510.03 362.10 Td (in ) Tj ET Q q 0 0 0 rg BT 521.09 362.10 Td (last ) Tj ET Q q 0 0 0 rg BT 538.25 362.10 Td (year) Tj ET Q q 0 0 0 rg BT 555.83 362.10 Td () Tj ET Q q 0 0 0 rg BT 558.61 362.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 350.10 Td (second ) Tj ET Q q 0 0 0 rg BT 79.36 350.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.68 350.10 Td ( ) Tj ET Q q 0 0 0 rg BT 109.77 350.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.65 350.10 Td (16.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.48 350.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.57 350.10 Td (in ) Tj ET Q q 0 0 0 rg BT 157.44 350.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.76 350.10 Td (second ) Tj ET Q q 0 0 0 rg BT 201.62 350.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 232.03 350.10 Td (of ) Tj ET Q q 0 0 0 rg BT 242.45 350.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.45 350.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.55 350.10 Td (due ) Tj ET Q q 0 0 0 rg BT 281.08 350.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 320.39 350.10 Td (to ) Tj ET Q q 0 0 0 rg BT 330.26 350.10 Td (the ) Tj ET Q q 0 0 0 rg BT 344.57 350.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 362.22 350.10 Td (of ) Tj ET Q q 0 0 0 rg BT 372.65 350.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 400.85 350.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 440.15 350.10 Td (and ) Tj ET Q q 0 0 0 rg BT 456.68 350.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 496.53 350.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 548.06 350.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 338.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 62.49 338.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 87.42 338.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.85 338.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 107.83 338.10 Td (land ) Tj ET Q q 0 0 0 rg BT 127.48 338.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 145.46 338.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 169.01 338.10 Td (mar) Tj ET Q q 0 0 0 rg BT 184.37 338.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 199.58 338.10 Td (declined ) Tj ET Q q 0 0 0 rg BT 235.89 338.10 Td (slightly ) Tj ET Q q 0 0 0 rg BT 268.32 338.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.75 338.10 Td ($0.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 338.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.08 338.10 Td (during ) Tj ET Q q 0 0 0 rg BT 360.62 338.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.27 338.10 Td (second ) Tj ET Q q 0 0 0 rg BT 405.47 338.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 436.21 338.10 Td (of ) Tj ET Q q 0 0 0 rg BT 446.98 338.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.98 338.10 Td ( ) Tj ET Q q 0 0 0 rg BT 469.41 338.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 511.26 338.10 Td (to ) Tj ET Q q 0 0 0 rg BT 521.47 338.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 543.34 338.10 Td (year) Tj ET Q q 0 0 0 rg BT 560.00 338.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 316.10 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 82.28 316.10 Td (general ) Tj ET Q q 0 0 0 rg BT 113.66 316.10 Td (and ) Tj ET Q q 0 0 0 rg BT 130.04 316.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 189.20 316.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.35 316.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.77 316.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.71 316.10 Td ($0.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.61 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 315.55 316.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.94 316.10 Td ($9.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.83 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 387.78 316.10 Td (in ) Tj ET Q q 0 0 0 rg BT 397.51 316.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.67 316.10 Td (second ) Tj ET Q q 0 0 0 rg BT 441.39 316.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 471.65 316.10 Td (of ) Tj ET Q q 0 0 0 rg BT 481.93 316.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.93 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 503.88 316.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.61 316.10 Td ($8.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.50 316.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 304.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.43 304.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.81 304.10 Td (second ) Tj ET Q q 0 0 0 rg BT 103.73 304.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 134.20 304.10 Td (of ) Tj ET Q q 0 0 0 rg BT 144.69 304.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.69 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 166.84 304.10 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.78 304.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.53 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 221.69 304.10 Td (as ) Tj ET Q q 0 0 0 rg BT 232.17 304.10 Td (a ) Tj ET Q q 0 0 0 rg BT 238.77 304.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 284.22 304.10 Td (of ) Tj ET Q q 0 0 0 rg BT 294.71 304.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 328.51 304.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.45 304.10 Td (10.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.28 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 366.43 304.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 408.01 304.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.94 304.10 Td (9.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.77 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 440.93 304.10 Td (for ) Tj ET Q q 0 0 0 rg BT 454.75 304.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.12 304.10 Td (second ) Tj ET Q q 0 0 0 rg BT 499.04 304.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 529.51 304.10 Td (of ) Tj ET Q q 0 0 0 rg BT 540.00 304.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.00 304.10 Td (. ) Tj ET Q q 0 0 0 rg BT 565.00 304.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.55 292.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.96 292.10 Td ( ) Tj ET Q q 0 0 0 rg BT 106.47 292.10 Td (in ) Tj ET Q q 0 0 0 rg BT 117.75 292.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 150.42 292.10 Td (general ) Tj ET Q q 0 0 0 rg BT 183.35 292.10 Td (and ) Tj ET Q q 0 0 0 rg BT 201.29 292.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 262.00 292.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 297.71 292.10 Td (was ) Tj ET Q q 0 0 0 rg BT 316.76 292.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 357.48 292.10 Td (due ) Tj ET Q q 0 0 0 rg BT 375.42 292.10 Td (to ) Tj ET Q q 0 0 0 rg BT 386.70 292.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.64 292.10 Td ($1.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.54 292.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.04 292.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.45 292.10 Td ( ) Tj ET Q q 0 0 0 rg BT 484.96 292.10 Td (in ) Tj ET Q q 0 0 0 rg BT 496.24 292.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 526.41 292.10 Td (expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 280.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 88.35 280.10 Td (as ) Tj ET Q q 0 0 0 rg BT 98.33 280.10 Td (a ) Tj ET Q q 0 0 0 rg BT 104.41 280.10 Td (result ) Tj ET Q q 0 0 0 rg BT 128.27 280.10 Td (of ) Tj ET Q q 0 0 0 rg BT 138.24 280.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 179.30 280.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 200.38 280.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 254.25 280.10 Td (produced ) Tj ET Q q 0 0 0 rg BT 293.10 280.10 Td (by ) Tj ET Q q 0 0 0 rg BT 304.74 280.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.60 280.10 Td (lower) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.37 280.10 Td ( ) Tj ET Q q 0 0 0 rg BT 343.02 280.10 Td (number ) Tj ET Q q 0 0 0 rg BT 375.21 280.10 Td (of ) Tj ET Q q 0 0 0 rg BT 385.18 280.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 412.93 280.10 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 454.28 280.10 Td ( ) Tj ET Q q 0 0 0 rg BT 455.92 280.10 Td (General ) Tj ET Q q 0 0 0 rg BT 489.21 280.10 Td (and ) Tj ET Q q 0 0 0 rg BT 505.29 280.10 Td (administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 268.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.21 268.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.96 268.10 Td (d ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.46 268.10 Td ($0.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.35 268.10 Td ( ) Tj ET Q q 0 0 0 rg BT 175.85 268.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 215.56 268.10 Td (related ) Tj ET Q q 0 0 0 rg BT 245.27 268.10 Td (to ) Tj ET Q q 0 0 0 rg BT 255.54 268.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.48 268.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.24 268.10 Td ( ) Tj ET Q q 0 0 0 rg BT 302.74 268.10 Td (in ) Tj ET Q q 0 0 0 rg BT 313.02 268.10 Td (professional ) Tj ET Q q 0 0 0 rg BT 364.39 268.10 Td (fees.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.45 246.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.28 246.10 Td (three ) Tj ET Q q 0 0 0 rg BT 117.88 246.10 Td (months ) Tj ET Q q 0 0 0 rg BT 149.95 246.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 176.44 246.10 Td (June ) Tj ET Q q 0 0 0 rg BT 197.39 246.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 212.51 246.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.51 246.10 Td (, ) Tj ET Q q 0 0 0 rg BT 237.63 246.10 Td (we ) Tj ET Q q 0 0 0 rg BT 251.90 246.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 302.82 246.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.88 246.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.21 246.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.82 246.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.24 246.10 Td ( ) Tj ET Q q 0 0 0 rg BT 362.85 246.10 Td (in ) Tj ET Q q 0 0 0 rg BT 373.25 246.10 Td (new ) Tj ET Q q 0 0 0 rg BT 392.53 246.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 431.24 246.10 Td (in ) Tj ET Q q 0 0 0 rg BT 441.63 246.10 Td (our ) Tj ET Q q 0 0 0 rg BT 457.58 246.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 512.41 246.10 Td (region, ) Tj ET Q q 0 0 0 rg BT 543.07 246.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.10 Td (244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 234.10 Td ( ) Tj ET Q q 0 0 0 rg BT 66.87 234.10 Td (in ) Tj ET Q q 0 0 0 rg BT 77.03 234.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.62 234.10 Td (second ) Tj ET Q q 0 0 0 rg BT 121.76 234.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 152.45 234.10 Td (of ) Tj ET Q q 0 0 0 rg BT 163.16 234.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.16 234.10 Td ( ) Tj ET Q q 0 0 0 rg BT 185.53 234.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.68 234.10 Td (222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.68 234.10 Td ( ) Tj ET Q q 0 0 0 rg BT 213.06 234.10 Td (for ) Tj ET Q q 0 0 0 rg BT 227.09 234.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.68 234.10 Td (second ) Tj ET Q q 0 0 0 rg BT 271.83 234.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 302.52 234.10 Td (of ) Tj ET Q q 0 0 0 rg BT 313.22 234.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.22 234.10 Td (, ) Tj ET Q q 0 0 0 rg BT 338.10 234.10 Td (and ) Tj ET Q q 0 0 0 rg BT 354.91 234.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.72 234.10 Td (1) Tj ET Q q 0 0 0 rg BT 371.35 234.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.68 234.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.06 234.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.47 234.10 Td ( ) Tj ET Q q 0 0 0 rg BT 423.84 234.10 Td (in ) Tj ET Q q 0 0 0 rg BT 434.00 234.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.59 234.10 Td (number ) Tj ET Q q 0 0 0 rg BT 481.51 234.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.21 234.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 520.70 234.10 Td (in ) Tj ET Q q 0 0 0 rg BT 530.85 234.10 Td (backlog ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.15 222.10 Td (431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.15 222.10 Td ( ) Tj ET Q q 0 0 0 rg BT 88.36 222.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 116.67 222.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.10 222.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 161.64 222.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.64 222.10 Td ( ) Tj ET Q q 0 0 0 rg BT 183.84 222.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.83 222.10 Td (385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.83 222.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.04 222.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 239.36 222.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.78 222.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 284.32 222.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.32 222.10 Td (. ) Tj ET Q q 0 0 0 rg BT 309.03 222.10 Td ( ) Tj ET Q q 0 0 0 rg BT 311.08 222.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.83 222.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.25 222.10 Td (s ) Tj ET Q q 0 0 0 rg BT 369.35 222.10 Td (in ) Tj ET Q q 0 0 0 rg BT 379.33 222.10 Td (new ) Tj ET Q q 0 0 0 rg BT 398.20 222.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 436.51 222.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.15 222.10 Td (backlog ) Tj ET Q q 0 0 0 rg BT 487.02 222.10 Td (were ) Tj ET Q q 0 0 0 rg BT 508.65 222.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 548.07 222.10 Td (due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.98 210.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.13 210.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.54 210.10 Td ( ) Tj ET Q q 0 0 0 rg BT 104.25 210.10 Td (in ) Tj ET Q q 0 0 0 rg BT 114.73 210.10 Td (the ) Tj ET Q q 0 0 0 rg BT 129.65 210.10 Td (average ) Tj ET Q q 0 0 0 rg BT 163.44 210.10 Td (number ) Tj ET Q q 0 0 0 rg BT 196.69 210.10 Td (of ) Tj ET Q q 0 0 0 rg BT 207.73 210.10 Td (active ) Tj ET Q q 0 0 0 rg BT 234.30 210.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 288.67 210.10 Td (during ) Tj ET Q q 0 0 0 rg BT 317.48 210.10 Td (the ) Tj ET Q q 0 0 0 rg BT 332.41 210.10 Td (period ) Tj ET Q q 0 0 0 rg BT 360.66 210.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 402.79 210.10 Td (to ) Tj ET Q q 0 0 0 rg BT 413.27 210.10 Td (the ) Tj ET Q q 0 0 0 rg BT 428.19 210.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 450.33 210.10 Td (year) Tj ET Q q 0 0 0 rg BT 467.14 210.10 Td (, ) Tj ET Q q 0 0 0 rg BT 472.35 210.10 Td (as ) Tj ET Q q 0 0 0 rg BT 483.38 210.10 Td (a ) Tj ET Q q 0 0 0 rg BT 490.53 210.10 Td (result ) Tj ET Q q 0 0 0 rg BT 515.45 210.10 Td (of ) Tj ET Q q 0 0 0 rg BT 526.48 210.10 Td (delays ) Tj ET Q q 0 0 0 rg BT 554.73 210.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.10 Td (replacement ) Tj ET Q q 0 0 0 rg BT 101.61 198.10 Td (community ) Tj ET Q q 0 0 0 rg BT 150.41 198.10 Td (openings ) Tj ET Q q 0 0 0 rg BT 189.77 198.10 Td (in ) Tj ET Q q 0 0 0 rg BT 200.80 198.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.27 198.10 Td (period ) Tj ET Q q 0 0 0 rg BT 245.07 198.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 287.74 198.10 Td (to ) Tj ET Q q 0 0 0 rg BT 298.77 198.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.24 198.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 336.93 198.10 Td (year) Tj ET Q q 0 0 0 rg BT 354.50 198.10 Td () Tj ET Q q 0 0 0 rg BT 357.28 198.10 Td (s ) Tj ET Q q 0 0 0 rg BT 364.43 198.10 Td (second ) Tj ET Q q 0 0 0 rg BT 395.45 198.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 423.21 198.10 Td (. ) Tj ET Q q 0 0 0 rg BT 428.96 198.10 Td ( ) Tj ET Q q 0 0 0 rg BT 431.49 198.10 Td (A) Tj ET Q q 0 0 0 rg BT 437.97 198.10 Td (verage ) Tj ET Q q 0 0 0 rg BT 467.87 198.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 490.56 198.10 Td (price ) Tj ET Q q 0 0 0 rg BT 513.79 198.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.38 198.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 554.74 198.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.10 Td (backlog ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.29 186.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.05 186.10 Td (, ) Tj ET Q q 0 0 0 rg BT 127.68 186.10 Td (however) Tj ET Q q 0 0 0 rg BT 161.71 186.10 Td (, ) Tj ET Q q 0 0 0 rg BT 167.35 186.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.92 186.10 Td ($388,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.42 186.10 Td ( ) Tj ET Q q 0 0 0 rg BT 230.56 186.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.92 186.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 277.38 186.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.38 186.10 Td ( ) Tj ET Q q 0 0 0 rg BT 300.52 186.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.44 186.10 Td ($422,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.94 186.10 Td ( ) Tj ET Q q 0 0 0 rg BT 352.07 186.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.43 186.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 398.89 186.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.89 186.10 Td ( ) Tj ET Q q 0 0 0 rg BT 422.03 186.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 462.38 186.10 Td (due ) Tj ET Q q 0 0 0 rg BT 479.96 186.10 Td (to ) Tj ET Q q 0 0 0 rg BT 490.87 186.10 Td (the ) Tj ET Q q 0 0 0 rg BT 506.23 186.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 524.92 186.10 Td (of ) Tj ET Q q 0 0 0 rg BT 536.39 186.10 Td (homes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.10 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 91.98 174.10 Td ( ) Tj ET Q q 0 0 0 rg BT 94.77 174.10 Td (During ) Tj ET Q q 0 0 0 rg BT 125.88 174.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.88 174.10 Td (three ) Tj ET Q q 0 0 0 rg BT 163.65 174.10 Td (months ) Tj ET Q q 0 0 0 rg BT 195.88 174.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 222.54 174.10 Td (June ) Tj ET Q q 0 0 0 rg BT 243.65 174.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 258.93 174.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.93 174.10 Td (, ) Tj ET Q q 0 0 0 rg BT 284.21 174.10 Td (we ) Tj ET Q q 0 0 0 rg BT 298.65 174.10 Td (opened ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.31 174.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.31 174.10 Td ( ) Tj ET Q q 0 0 0 rg BT 348.10 174.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 402.54 174.10 Td (in ) Tj ET Q q 0 0 0 rg BT 413.10 174.10 Td (our ) Tj ET Q q 0 0 0 rg BT 429.21 174.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 484.21 174.10 Td (region ) Tj ET Q q 0 0 0 rg BT 512.53 174.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 554.74 174.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.49 162.10 Td ( ) Tj ET Q q 0 0 0 rg BT 71.81 162.10 Td (during ) Tj ET Q q 0 0 0 rg BT 100.24 162.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.78 162.10 Td (second ) Tj ET Q q 0 0 0 rg BT 144.88 162.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 175.52 162.10 Td (of ) Tj ET Q q 0 0 0 rg BT 186.17 162.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.17 162.10 Td (. ) Tj ET Q q 0 0 0 rg BT 210.99 162.10 Td ( ) Tj ET Q q 0 0 0 rg BT 213.32 162.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 231.19 162.10 Td (monthly ) Tj ET Q q 0 0 0 rg BT 266.85 162.10 Td (absorption ) Tj ET Q q 0 0 0 rg BT 311.39 162.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 328.70 162.10 Td (in ) Tj ET Q q 0 0 0 rg BT 338.81 162.10 Td (our ) Tj ET Q q 0 0 0 rg BT 354.46 162.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 409.00 162.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.87 162.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.62 162.10 Td ( ) Tj ET Q q 0 0 0 rg BT 476.95 162.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.05 162.10 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.55 162.10 Td ( ) Tj ET Q q 0 0 0 rg BT 501.87 162.10 Td (per ) Tj ET Q q 0 0 0 rg BT 516.97 162.10 Td (community ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.78 150.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 150.10 Td (second ) Tj ET Q q 0 0 0 rg BT 104.76 150.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 135.58 150.10 Td (of ) Tj ET Q q 0 0 0 rg BT 146.41 150.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.41 150.10 Td ( ) Tj ET Q q 0 0 0 rg BT 168.91 150.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.85 150.10 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.35 150.10 Td ( ) Tj ET Q q 0 0 0 rg BT 205.85 150.10 Td (per ) Tj ET Q q 0 0 0 rg BT 221.12 150.10 Td (community ) Tj ET Q q 0 0 0 rg BT 269.17 150.10 Td (in ) Tj ET Q q 0 0 0 rg BT 279.45 150.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.16 150.10 Td (second ) Tj ET Q q 0 0 0 rg BT 324.43 150.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 355.25 150.10 Td (of ) Tj ET Q q 0 0 0 rg BT 366.08 150.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.08 150.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 92.59 128.10 Td (Services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.97 128.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.49 128.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 169.00 128.10 Td (from ) Tj ET Q q 0 0 0 rg BT 190.96 128.10 Td (our ) Tj ET Q q 0 0 0 rg BT 206.81 128.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 247.10 128.10 Td (and ) Tj ET Q q 0 0 0 rg BT 264.06 128.10 Td (title ) Tj ET Q q 0 0 0 rg BT 282.14 128.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 326.32 128.10 Td (remained ) Tj ET Q q 0 0 0 rg BT 366.04 128.10 Td (flat ) Tj ET Q q 0 0 0 rg BT 381.89 128.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.63 128.10 Td ($1) Tj ET Q q 0 0 0 rg BT 401.26 128.10 Td (1.9 ) Tj ET Q q 0 0 0 rg BT 416.28 128.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.18 128.10 Td ( ) Tj ET Q q 0 0 0 rg BT 447.70 128.10 Td (in ) Tj ET Q q 0 0 0 rg BT 458.00 128.10 Td (both ) Tj ET Q q 0 0 0 rg BT 478.30 128.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.04 128.10 Td (second ) Tj ET Q q 0 0 0 rg BT 523.33 128.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 554.17 128.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 116.10 Td ( ) Tj ET Q q 0 0 0 rg BT 71.27 116.10 Td (and ) Tj ET Q q 0 0 0 rg BT 87.48 116.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.47 116.10 Td (second ) Tj ET Q q 0 0 0 rg BT 131.01 116.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 161.10 116.10 Td (of ) Tj ET Q q 0 0 0 rg BT 171.20 116.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.20 116.10 Td ( ) Tj ET Q q 0 0 0 rg BT 192.97 116.10 Td (\(a ) Tj ET Q q 0 0 0 rg BT 202.51 116.10 Td (second ) Tj ET Q q 0 0 0 rg BT 232.05 116.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 262.14 116.10 Td (record\). ) Tj ET Q q 0 0 0 rg BT 295.28 116.10 Td ( ) Tj ET Q q 0 0 0 rg BT 296.92 116.10 Td (W) Tj ET Q q 0 0 0 rg BT 305.56 116.10 Td (e ) Tj ET Q q 0 0 0 rg BT 311.77 116.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 361.84 116.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.05 116.10 Td (1) Tj ET Q q 0 0 0 rg BT 377.68 116.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.01 116.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.78 116.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.53 116.10 Td ( ) Tj ET Q q 0 0 0 rg BT 427.30 116.10 Td (in ) Tj ET Q q 0 0 0 rg BT 436.85 116.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.84 116.10 Td (number ) Tj ET Q q 0 0 0 rg BT 483.16 116.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.26 116.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 512.25 116.10 Td (originations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.86 104.10 Td (840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.86 104.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.78 104.10 Td (in ) Tj ET Q q 0 0 0 rg BT 100.48 104.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.62 104.10 Td (second ) Tj ET Q q 0 0 0 rg BT 146.31 104.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 177.55 104.10 Td (of ) Tj ET Q q 0 0 0 rg BT 188.80 104.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.80 104.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.72 104.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.42 104.10 Td (930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.42 104.10 Td ( ) Tj ET Q q 0 0 0 rg BT 240.34 104.10 Td (in ) Tj ET Q q 0 0 0 rg BT 251.04 104.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.18 104.10 Td (second ) Tj ET Q q 0 0 0 rg BT 296.87 104.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 328.10 104.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.36 104.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.36 104.10 Td (, ) Tj ET Q q 0 0 0 rg BT 364.78 104.10 Td (and ) Tj ET Q q 0 0 0 rg BT 382.14 104.10 Td (an ) Tj ET Q q 0 0 0 rg BT 394.50 104.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 430.17 104.10 Td (in ) Tj ET Q q 0 0 0 rg BT 440.87 104.10 Td (the ) Tj ET Q q 0 0 0 rg BT 456.01 104.10 Td (average ) Tj ET Q q 0 0 0 rg BT 490.02 104.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 510.15 104.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 543.07 104.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td ($299,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 92.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.35 92.10 Td (in ) Tj ET Q q 0 0 0 rg BT 99.48 92.10 Td (the ) Tj ET Q q 0 0 0 rg BT 114.05 92.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 144.72 92.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.95 92.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 206.63 92.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.63 92.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.99 92.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.12 92.10 Td ($306,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.62 92.10 Td ( ) Tj ET Q q 0 0 0 rg BT 278.97 92.10 Td (in ) Tj ET Q q 0 0 0 rg BT 289.10 92.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.67 92.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 334.34 92.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.57 92.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 396.25 92.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.25 92.10 Td (. ) Tj ET Q q 0 0 0 rg BT 421.10 92.10 Td ( ) Tj ET Q q 0 0 0 rg BT 423.28 92.10 Td (W) Tj ET Q q 0 0 0 rg BT 431.92 92.10 Td (e ) Tj ET Q q 0 0 0 rg BT 438.71 92.10 Td (also ) Tj ET Q q 0 0 0 rg BT 457.17 92.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 507.83 92.10 Td (an ) Tj ET Q q 0 0 0 rg BT 519.62 92.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 554.72 92.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 80.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 96.71 80.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.54 80.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 131.15 80.10 Td (sold, ) Tj ET Q q 0 0 0 rg BT 152.82 80.10 Td (but ) Tj ET Q q 0 0 0 rg BT 168.10 80.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 205.03 80.10 Td (to ) Tj ET Q q 0 0 0 rg BT 215.31 80.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 261.11 80.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 286.38 80.10 Td (mar) Tj ET Q q 0 0 0 rg BT 301.75 80.10 Td (gins ) Tj ET Q q 0 0 0 rg BT 320.92 80.10 Td (on ) Tj ET Q q 0 0 0 rg BT 333.42 80.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 357.02 80.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 376.19 80.10 Td (due ) Tj ET Q q 0 0 0 rg BT 393.13 80.10 Td (to ) Tj ET Q q 0 0 0 rg BT 403.41 80.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 443.67 80.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 493.37 80.10 Td (pressures.) Tj ET Q endstream endobj 87 0 obj <>] /Rotate 0 /Contents 88 0 R>> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 740.10 Td (e ) Tj ET Q q 0 0 0 rg BT 64.80 740.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 90.90 740.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.46 740.10 Td (second ) Tj ET Q q 0 0 0 rg BT 136.45 740.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 167.00 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 177.55 740.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.55 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 199.78 740.10 Td (with ) Tj ET Q q 0 0 0 rg BT 219.78 740.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.44 740.10 Td ($0.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.34 740.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.56 740.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.98 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 314.20 740.10 Td (in ) Tj ET Q q 0 0 0 rg BT 324.21 740.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 364.19 740.10 Td (income ) Tj ET Q q 0 0 0 rg BT 395.85 740.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 437.50 740.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.51 740.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 475.43 740.10 Td (second ) Tj ET Q q 0 0 0 rg BT 505.42 740.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.33 740.10 Td (, ) Tj ET Q q 0 0 0 rg BT 538.06 740.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (was ) Tj ET Q q 0 0 0 rg BT 67.94 728.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 108.04 728.10 Td (due ) Tj ET Q q 0 0 0 rg BT 125.36 728.10 Td (to ) Tj ET Q q 0 0 0 rg BT 136.03 728.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.35 728.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.11 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 184.00 728.10 Td (in ) Tj ET Q q 0 0 0 rg BT 194.66 728.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 226.71 728.10 Td (general ) Tj ET Q q 0 0 0 rg BT 259.02 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 276.35 728.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 336.44 728.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 371.54 728.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 413.85 728.10 Td (to ) Tj ET Q q 0 0 0 rg BT 424.52 728.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.62 728.10 Td (second ) Tj ET Q q 0 0 0 rg BT 470.28 728.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 501.48 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 512.70 728.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.70 728.10 Td (, ) Tj ET Q q 0 0 0 rg BT 538.08 728.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (was ) Tj ET Q q 0 0 0 rg BT 67.55 716.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 115.59 716.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 155.30 716.10 Td (to ) Tj ET Q q 0 0 0 rg BT 165.58 716.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.52 716.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.27 716.10 Td ( ) Tj ET Q q 0 0 0 rg BT 212.77 716.10 Td (in ) Tj ET Q q 0 0 0 rg BT 223.05 716.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 281.09 716.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 315.80 716.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 355.51 716.10 Td (related ) Tj ET Q q 0 0 0 rg BT 385.21 716.10 Td (to ) Tj ET Q q 0 0 0 rg BT 395.49 716.10 Td (our ) Tj ET Q q 0 0 0 rg BT 411.32 716.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 446.58 716.10 Td (in ) Tj ET Q q 0 0 0 rg BT 456.85 716.10 Td (employee ) Tj ET Q q 0 0 0 rg BT 498.23 716.10 Td (headcount.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 694.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 97.83 694.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.83 694.10 Td (, ) Tj ET Q q 0 0 0 rg BT 122.83 694.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 140.33 694.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 180.04 694.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 218.09 694.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 258.35 694.10 Td (services ) Tj ET Q q 0 0 0 rg BT 293.06 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 303.34 694.10 Td (all ) Tj ET Q q 0 0 0 rg BT 315.83 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.66 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 342.49 694.10 Td (markets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 672.10 Td (Approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.45 672.10 Td (80%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.78 672.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.18 672.10 Td (of ) Tj ET Q q 0 0 0 rg BT 143.91 672.10 Td (our ) Tj ET Q q 0 0 0 rg BT 159.65 672.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 188.16 672.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 227.77 672.10 Td (during ) Tj ET Q q 0 0 0 rg BT 256.28 672.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.90 672.10 Td (second ) Tj ET Q q 0 0 0 rg BT 301.07 672.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 331.79 672.10 Td (of ) Tj ET Q q 0 0 0 rg BT 342.52 672.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.52 672.10 Td ( ) Tj ET Q q 0 0 0 rg BT 364.93 672.10 Td (were ) Tj ET Q q 0 0 0 rg BT 386.76 672.10 Td (financed ) Tj ET Q q 0 0 0 rg BT 423.59 672.10 Td (through ) Tj ET Q q 0 0 0 rg BT 457.10 672.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 474.50 672.10 Td (Financial, ) Tj ET Q q 0 0 0 rg BT 516.62 672.10 Td (the ) Tj ET Q q 0 0 0 rg BT 531.24 672.10 Td (same ) Tj ET Q q 0 0 0 rg BT 554.19 672.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 660.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.94 660.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.81 660.10 Td (second ) Tj ET Q q 0 0 0 rg BT 105.24 660.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 136.21 660.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.20 660.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.20 660.10 Td (. ) Tj ET Q q 0 0 0 rg BT 172.36 660.10 Td ( ) Tj ET Q q 0 0 0 rg BT 175.02 660.10 Td (Capture ) Tj ET Q q 0 0 0 rg BT 209.33 660.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 226.98 660.10 Td (is ) Tj ET Q q 0 0 0 rg BT 236.31 660.10 Td (influenced ) Tj ET Q q 0 0 0 rg BT 281.17 660.10 Td (by ) Tj ET Q q 0 0 0 rg BT 293.83 660.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 334.25 660.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 381.89 660.10 Td (and ) Tj ET Q q 0 0 0 rg BT 398.99 660.10 Td (competition ) Tj ET Q q 0 0 0 rg BT 449.42 660.10 Td (in ) Tj ET Q q 0 0 0 rg BT 459.85 660.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.73 660.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 515.15 660.10 Td (market, ) Tj ET Q q 0 0 0 rg BT 548.07 660.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 648.10 Td (can ) Tj ET Q q 0 0 0 rg BT 65.88 648.10 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 103.36 648.10 Td (from ) Tj ET Q q 0 0 0 rg BT 125.30 648.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 156.11 648.10 Td (to ) Tj ET Q q 0 0 0 rg BT 166.39 648.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 194.15 648.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 626.10 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 95.28 626.10 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 130.78 626.10 Td (General ) Tj ET Q q 0 0 0 rg BT 168.22 626.10 Td (and ) Tj ET Q q 0 0 0 rg BT 187.28 626.10 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 251.95 626.10 Td (Expense.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.45 626.10 Td ( ) Tj ET Q q 0 0 0 rg BT 293.56 626.10 Td ( ) Tj ET Q q 0 0 0 rg BT 297.67 626.10 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 341.76 626.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 375.04 626.10 Td (general ) Tj ET Q q 0 0 0 rg BT 408.57 626.10 Td (and ) Tj ET Q q 0 0 0 rg BT 427.11 626.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 488.43 626.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.75 626.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 614.10 Td ($0.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 614.10 Td (, ) Tj ET Q q 0 0 0 rg BT 103.55 614.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.64 614.10 Td ($10.2 ) Tj ET Q q 0 0 0 rg BT 150.80 614.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.69 614.10 Td ( ) Tj ET Q q 0 0 0 rg BT 182.34 614.10 Td (for ) Tj ET Q q 0 0 0 rg BT 196.66 614.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.53 614.10 Td (second ) Tj ET Q q 0 0 0 rg BT 241.95 614.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 272.92 614.10 Td (of ) Tj ET Q q 0 0 0 rg BT 283.91 614.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.91 614.10 Td ( ) Tj ET Q q 0 0 0 rg BT 306.57 614.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 614.10 Td ($10.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.89 614.10 Td ( ) Tj ET Q q 0 0 0 rg BT 373.55 614.10 Td (for ) Tj ET Q q 0 0 0 rg BT 387.86 614.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.73 614.10 Td (second ) Tj ET Q q 0 0 0 rg BT 433.16 614.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 464.13 614.10 Td (of ) Tj ET Q q 0 0 0 rg BT 475.11 614.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.11 614.10 Td ( ) Tj ET Q q 0 0 0 rg BT 497.77 614.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 537.64 614.10 Td (due ) Tj ET Q q 0 0 0 rg BT 554.73 614.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 602.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.32 602.10 Td ($0.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.21 602.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.60 602.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.35 602.10 Td ( ) Tj ET Q q 0 0 0 rg BT 142.73 602.10 Td (in ) Tj ET Q q 0 0 0 rg BT 152.89 602.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 204.70 602.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 227.08 602.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 270.55 602.10 Td (with ) Tj ET Q q 0 0 0 rg BT 290.72 602.10 Td (new ) Tj ET Q q 0 0 0 rg BT 309.76 602.10 Td (information ) Tj ET Q q 0 0 0 rg BT 359.35 602.10 Td (systems ) Tj ET Q q 0 0 0 rg BT 393.41 602.10 Td (and ) Tj ET Q q 0 0 0 rg BT 410.23 602.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.05 602.10 Td ($0.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.94 602.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.32 602.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.08 602.10 Td ( ) Tj ET Q q 0 0 0 rg BT 503.46 602.10 Td (in ) Tj ET Q q 0 0 0 rg BT 513.62 602.10 Td (professional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 590.10 Td (fees.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 568.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 78.35 568.10 Td (in ) Tj ET Q q 0 0 0 rg BT 88.30 568.10 Td (Loss ) Tj ET Q q 0 0 0 rg BT 108.81 568.10 Td (\(Income\) ) Tj ET Q q 0 0 0 rg BT 148.20 568.10 Td (from ) Tj ET Q q 0 0 0 rg BT 169.82 568.10 Td (Joint ) Tj ET Q q 0 0 0 rg BT 192.56 568.10 Td (V) Tj ET Q q 0 0 0 rg BT 198.12 568.10 Td (enture ) Tj ET Q q 0 0 0 rg BT 226.17 568.10 Td (Arrangements. ) Tj ET Q q 0 0 0 rg BT 289.19 568.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.81 568.10 Td (Loss ) Tj ET Q q 0 0 0 rg BT 311.32 568.10 Td (or ) Tj ET Q q 0 0 0 rg BT 321.26 568.10 Td (income ) Tj ET Q q 0 0 0 rg BT 352.32 568.10 Td (from ) Tj ET Q q 0 0 0 rg BT 373.37 568.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 393.33 568.10 Td (venture ) Tj ET Q q 0 0 0 rg BT 424.93 568.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 480.41 568.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 518.68 568.10 Td (our ) Tj ET Q q 0 0 0 rg BT 533.63 568.10 Td (portion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 556.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.71 556.10 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 89.92 556.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 115.69 556.10 Td (or ) Tj ET Q q 0 0 0 rg BT 125.91 556.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 161.67 556.10 Td (from ) Tj ET Q q 0 0 0 rg BT 182.99 556.10 Td (our ) Tj ET Q q 0 0 0 rg BT 198.21 556.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 218.43 556.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 261.97 556.10 Td (and ) Tj ET Q q 0 0 0 rg BT 278.29 556.10 Td (development ) Tj ET Q q 0 0 0 rg BT 331.83 556.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 381.75 556.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 401.97 556.10 Td (ventures ) Tj ET Q q 0 0 0 rg BT 437.73 556.10 Td (and ) Tj ET Q q 0 0 0 rg BT 454.05 556.10 Td (other ) Tj ET Q q 0 0 0 rg BT 476.48 556.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 506.14 556.10 Td (arrangements. ) Tj ET Q q 0 0 0 rg BT 565.00 556.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 544.10 Td (During ) Tj ET Q q 0 0 0 rg BT 79.92 544.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.23 544.10 Td (three ) Tj ET Q q 0 0 0 rg BT 116.31 544.10 Td (months ) Tj ET Q q 0 0 0 rg BT 147.85 544.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 173.82 544.10 Td (June ) Tj ET Q q 0 0 0 rg BT 194.24 544.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 208.83 544.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.83 544.10 Td (, ) Tj ET Q q 0 0 0 rg BT 233.43 544.10 Td (the ) Tj ET Q q 0 0 0 rg BT 247.73 544.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 288.71 544.10 Td (experienced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.11 544.10 Td (less ) Tj ET Q q 0 0 0 rg BT 356.20 544.10 Td (than ) Tj ET Q q 0 0 0 rg BT 375.51 544.10 Td ($0.1 ) Tj ET Q q 0 0 0 rg BT 395.10 544.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.99 544.10 Td ( ) Tj ET Q q 0 0 0 rg BT 426.08 544.10 Td (in ) Tj ET Q q 0 0 0 rg BT 435.96 544.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 463.04 544.10 Td (in ) Tj ET Q q 0 0 0 rg BT 472.91 544.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 490.57 544.10 Td (from ) Tj ET Q q 0 0 0 rg BT 512.10 544.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 532.52 544.10 Td (venture ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 532.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 105.12 532.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 146.29 532.10 Td (to ) Tj ET Q q 0 0 0 rg BT 155.83 532.10 Td (earning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.57 532.10 Td ($0.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.46 532.10 Td ( ) Tj ET Q q 0 0 0 rg BT 238.21 532.10 Td (in ) Tj ET Q q 0 0 0 rg BT 247.75 532.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 274.50 532.10 Td (in ) Tj ET Q q 0 0 0 rg BT 284.03 532.10 Td (income ) Tj ET Q q 0 0 0 rg BT 315.22 532.10 Td (from ) Tj ET Q q 0 0 0 rg BT 336.41 532.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 356.50 532.10 Td (venture ) Tj ET Q q 0 0 0 rg BT 388.24 532.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 443.85 532.10 Td (during ) Tj ET Q q 0 0 0 rg BT 471.72 532.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.69 532.10 Td (three ) Tj ET Q q 0 0 0 rg BT 507.43 532.10 Td (months ) Tj ET Q q 0 0 0 rg BT 538.63 532.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.10 Td (June ) Tj ET Q q 0 0 0 rg BT 70.33 520.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 85.33 520.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.33 520.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 498.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 83.87 498.10 Td (Expense ) Tj ET Q q 0 0 0 rg BT 121.57 498.10 Td (- ) Tj ET Q q 0 0 0 rg BT 127.59 498.10 Td (Net.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.53 498.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.23 498.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.93 498.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 182.61 498.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 217.52 498.10 Td (for ) Tj ET Q q 0 0 0 rg BT 231.87 498.10 Td (the ) Tj ET Q q 0 0 0 rg BT 246.79 498.10 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.37 498.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.13 498.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.82 498.10 Td ($1.1 ) Tj ET Q q 0 0 0 rg BT 349.02 498.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.91 498.10 Td ( ) Tj ET Q q 0 0 0 rg BT 380.61 498.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.75 498.10 Td ($3.8 ) Tj ET Q q 0 0 0 rg BT 422.94 498.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.84 498.10 Td ( ) Tj ET Q q 0 0 0 rg BT 454.53 498.10 Td (for ) Tj ET Q q 0 0 0 rg BT 468.89 498.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.81 498.10 Td (three ) Tj ET Q q 0 0 0 rg BT 506.49 498.10 Td (months ) Tj ET Q q 0 0 0 rg BT 538.64 498.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.10 Td (June ) Tj ET Q q 0 0 0 rg BT 70.41 486.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 85.49 486.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.49 486.10 Td ( ) Tj ET Q q 0 0 0 rg BT 108.06 486.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.42 486.10 Td ($4.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.31 486.10 Td ( ) Tj ET Q q 0 0 0 rg BT 169.89 486.10 Td (for ) Tj ET Q q 0 0 0 rg BT 184.13 486.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.92 486.10 Td (three ) Tj ET Q q 0 0 0 rg BT 221.49 486.10 Td (months ) Tj ET Q q 0 0 0 rg BT 253.51 486.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 279.97 486.10 Td (June ) Tj ET Q q 0 0 0 rg BT 300.88 486.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 315.96 486.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.96 486.10 Td (. ) Tj ET Q q 0 0 0 rg BT 341.03 486.10 Td ( ) Tj ET Q q 0 0 0 rg BT 343.42 486.10 Td (This) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.70 486.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.46 486.10 Td (was ) Tj ET Q q 0 0 0 rg BT 417.09 486.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 456.88 486.10 Td (the ) Tj ET Q q 0 0 0 rg BT 471.67 486.10 Td (result ) Tj ET Q q 0 0 0 rg BT 496.47 486.10 Td (of ) Tj ET Q q 0 0 0 rg BT 507.38 486.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.39 486.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 486.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.72 486.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.10 Td (our ) Tj ET Q q 0 0 0 rg BT 66.11 474.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 106.04 474.10 Td (average ) Tj ET Q q 0 0 0 rg BT 140.40 474.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 189.22 474.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.94 474.10 Td ($649.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.83 474.10 Td ( ) Tj ET Q q 0 0 0 rg BT 274.10 474.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.16 474.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 314.13 474.10 Td (second ) Tj ET Q q 0 0 0 rg BT 345.17 474.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.49 474.10 Td ( ) Tj ET Q q 0 0 0 rg BT 376.76 474.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.81 474.10 Td ($789.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.71 474.10 Td ( ) Tj ET Q q 0 0 0 rg BT 449.98 474.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.04 474.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 490.00 474.10 Td (second ) Tj ET Q q 0 0 0 rg BT 521.05 474.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.96 474.10 Td (, ) Tj ET Q q 0 0 0 rg BT 554.74 474.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 85.23 462.10 Td (to ) Tj ET Q q 0 0 0 rg BT 95.96 462.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.36 462.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.11 462.10 Td ( ) Tj ET Q q 0 0 0 rg BT 144.07 462.10 Td (in ) Tj ET Q q 0 0 0 rg BT 154.80 462.10 Td (our ) Tj ET Q q 0 0 0 rg BT 171.09 462.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 210.70 462.10 Td (average ) Tj ET Q q 0 0 0 rg BT 244.74 462.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 289.35 462.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 307.29 462.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.69 462.10 Td (5.70%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.52 462.10 Td ( ) Tj ET Q q 0 0 0 rg BT 358.47 462.10 Td (in ) Tj ET Q q 0 0 0 rg BT 369.21 462.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.38 462.10 Td (second ) Tj ET Q q 0 0 0 rg BT 415.10 462.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 446.37 462.10 Td (of ) Tj ET Q q 0 0 0 rg BT 457.66 462.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.66 462.10 Td ( ) Tj ET Q q 0 0 0 rg BT 480.62 462.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.35 462.10 Td (6.18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.18 462.10 Td ( ) Tj ET Q q 0 0 0 rg BT 520.13 462.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.75 462.10 Td (second ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 80.29 450.10 Td (of ) Tj ET Q q 0 0 0 rg BT 91.09 450.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.09 450.10 Td (. ) Tj ET Q q 0 0 0 rg BT 116.06 450.10 Td ( ) Tj ET Q q 0 0 0 rg BT 118.36 450.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.38 450.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.13 450.10 Td ( ) Tj ET Q q 0 0 0 rg BT 171.61 450.10 Td (in ) Tj ET Q q 0 0 0 rg BT 181.86 450.10 Td (our ) Tj ET Q q 0 0 0 rg BT 197.66 450.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 236.79 450.10 Td (average ) Tj ET Q q 0 0 0 rg BT 270.35 450.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 318.37 450.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.28 450.10 Td (our ) Tj ET Q q 0 0 0 rg BT 351.09 450.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 390.21 450.10 Td (average ) Tj ET Q q 0 0 0 rg BT 423.77 450.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 467.91 450.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 485.36 450.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 525.05 450.10 Td (related ) Tj ET Q q 0 0 0 rg BT 554.72 450.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.72 438.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 99.61 438.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.94 438.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.28 438.10 Td ($250.0 ) Tj ET Q q 0 0 0 rg BT 154.79 438.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.68 438.10 Td ( ) Tj ET Q q 0 0 0 rg BT 185.69 438.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 226.56 438.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 264.10 438.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 296.11 438.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.44 438.10 Td (5.625%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.27 438.10 Td ( ) Tj ET Q q 0 0 0 rg BT 339.28 438.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 367.40 438.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 392.73 438.10 Td (due ) Tj ET Q q 0 0 0 rg BT 409.18 438.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 431.18 438.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 448.74 438.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 475.18 438.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 503.30 438.10 Td (Notes\) ) Tj ET Q q 0 0 0 rg BT 536.40 438.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.63 426.10 Td (third ) Tj ET Q q 0 0 0 rg BT 84.42 426.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 114.64 426.10 Td (of ) Tj ET Q q 0 0 0 rg BT 124.88 426.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 146.79 426.10 Td (in ) Tj ET Q q 0 0 0 rg BT 156.48 426.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 191.16 426.10 Td (to ) Tj ET Q q 0 0 0 rg BT 200.84 426.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 240.51 426.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 287.97 426.10 Td (under ) Tj ET Q q 0 0 0 rg BT 312.64 426.10 Td (our ) Tj ET Q q 0 0 0 rg BT 327.88 426.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 354.79 426.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 387.25 426.10 Td (\(as ) Tj ET Q q 0 0 0 rg BT 400.81 426.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 432.71 426.10 Td (below\) ) Tj ET Q q 0 0 0 rg BT 462.38 426.10 Td (during ) Tj ET Q q 0 0 0 rg BT 490.40 426.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.53 426.10 Td (second ) Tj ET Q q 0 0 0 rg BT 534.20 426.10 Td (quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.88 414.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.88 414.10 Td ( ) Tj ET Q q 0 0 0 rg BT 83.94 414.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 126.42 414.10 Td (to ) Tj ET Q q 0 0 0 rg BT 137.25 414.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.52 414.10 Td (second ) Tj ET Q q 0 0 0 rg BT 183.34 414.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 214.71 414.10 Td (of ) Tj ET Q q 0 0 0 rg BT 226.10 414.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.10 414.10 Td (, ) Tj ET Q q 0 0 0 rg BT 251.65 414.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 288.03 414.10 Td (of) Tj ET Q q 0 0 0 rg BT 296.17 414.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 313.67 414.10 Td (by ) Tj ET Q q 0 0 0 rg BT 326.72 414.10 Td (the ) Tj ET Q q 0 0 0 rg BT 341.99 414.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 378.93 414.10 Td (of ) Tj ET Q q 0 0 0 rg BT 390.31 414.10 Td (our ) Tj ET Q q 0 0 0 rg BT 406.70 414.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 429.75 414.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 480.02 414.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 509.18 414.10 Td (Subordinated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.33 402.10 Td (in ) Tj ET Q q 0 0 0 rg BT 85.61 402.10 Td (September ) Tj ET Q q 0 0 0 rg BT 130.87 402.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 153.37 402.10 Td (and ) Tj ET Q q 0 0 0 rg BT 170.31 402.10 Td (our ) Tj ET Q q 0 0 0 rg BT 186.14 402.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 208.64 402.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 258.35 402.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 286.96 402.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 342.79 402.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 368.62 402.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.89 402.10 Td (March ) Tj ET Q q 0 0 0 rg BT 407.49 402.10 Td (2018.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 82.82 380.10 Td (T) Tj ET Q q 0 0 0 rg BT 88.01 380.10 Td (axes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.84 380.10 Td ( ) Tj ET Q q 0 0 0 rg BT 111.06 380.10 Td ( ) Tj ET Q q 0 0 0 rg BT 113.27 380.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 131.04 380.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 161.02 380.10 Td (ef) Tj ET Q q 0 0 0 rg BT 168.60 380.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 198.02 380.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 212.45 380.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 229.65 380.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.42 380.10 Td (16.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.25 380.10 Td ( ) Tj ET Q q 0 0 0 rg BT 275.46 380.10 Td (for ) Tj ET Q q 0 0 0 rg BT 289.34 380.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.77 380.10 Td (three ) Tj ET Q q 0 0 0 rg BT 325.97 380.10 Td (months ) Tj ET Q q 0 0 0 rg BT 357.63 380.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 383.72 380.10 Td (June ) Tj ET Q q 0 0 0 rg BT 404.27 380.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 418.98 380.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.98 380.10 Td ( ) Tj ET Q q 0 0 0 rg BT 441.19 380.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.85 380.10 Td (32.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.68 380.10 Td ( ) Tj ET Q q 0 0 0 rg BT 485.89 380.10 Td (for ) Tj ET Q q 0 0 0 rg BT 499.77 380.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.20 380.10 Td (same ) Tj ET Q q 0 0 0 rg BT 536.96 380.10 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.56 368.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.56 368.10 Td (. ) Tj ET Q q 0 0 0 rg BT 84.34 368.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.45 368.10 Td (The ) Tj ET Q q 0 0 0 rg BT 104.28 368.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 135.43 368.10 Td (in ) Tj ET Q q 0 0 0 rg BT 145.49 368.10 Td (the ) Tj ET Q q 0 0 0 rg BT 159.98 368.10 Td (ef) Tj ET Q q 0 0 0 rg BT 167.57 368.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 197.05 368.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 214.32 368.10 Td (from ) Tj ET Q q 0 0 0 rg BT 236.03 368.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.53 368.10 Td (three ) Tj ET Q q 0 0 0 rg BT 272.79 368.10 Td (months ) Tj ET Q q 0 0 0 rg BT 304.52 368.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 330.68 368.10 Td (June ) Tj ET Q q 0 0 0 rg BT 351.29 368.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 366.07 368.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.07 368.10 Td ( ) Tj ET Q q 0 0 0 rg BT 388.35 368.10 Td (was ) Tj ET Q q 0 0 0 rg BT 406.18 368.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 445.67 368.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 493.49 368.10 Td (to ) Tj ET Q q 0 0 0 rg BT 503.54 368.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.04 368.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 554.73 368.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.23 356.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 104.50 356.10 Td (income ) Tj ET Q q 0 0 0 rg BT 136.45 356.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 151.18 356.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 168.68 356.10 Td (from ) Tj ET Q q 0 0 0 rg BT 190.63 356.10 Td (35% ) Tj ET Q q 0 0 0 rg BT 211.48 356.10 Td (to ) Tj ET Q q 0 0 0 rg BT 221.77 356.10 Td (21% ) Tj ET Q q 0 0 0 rg BT 242.62 356.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 278.45 356.10 Td (of) Tj ET Q q 0 0 0 rg BT 286.60 356.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 303.55 356.10 Td (by ) Tj ET Q q 0 0 0 rg BT 316.07 356.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.80 356.10 Td (repeal ) Tj ET Q q 0 0 0 rg BT 357.74 356.10 Td (of ) Tj ET Q q 0 0 0 rg BT 368.58 356.10 Td (the ) Tj ET Q q 0 0 0 rg BT 383.31 356.10 Td (domestic ) Tj ET Q q 0 0 0 rg BT 421.93 356.10 Td (production ) Tj ET Q q 0 0 0 rg BT 467.77 356.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 500.28 356.10 Td (deduction, ) Tj ET Q q 0 0 0 rg BT 544.72 356.10 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.62 344.10 Td (which ) Tj ET Q q 0 0 0 rg BT 87.84 344.10 Td (are ) Tj ET Q q 0 0 0 rg BT 102.84 344.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.84 344.10 Td (result ) Tj ET Q q 0 0 0 rg BT 142.85 344.10 Td (of ) Tj ET Q q 0 0 0 rg BT 153.97 344.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.97 344.10 Td (enactment ) Tj ET Q q 0 0 0 rg BT 212.85 344.10 Td (of ) Tj ET Q q 0 0 0 rg BT 223.97 344.10 Td (the ) Tj ET Q q 0 0 0 rg BT 238.77 344.10 Td (T) Tj ET Q q 0 0 0 rg BT 244.18 344.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 255.79 344.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 273.02 344.10 Td (during ) Tj ET Q q 0 0 0 rg BT 301.92 344.10 Td (the ) Tj ET Q q 0 0 0 rg BT 316.92 344.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 344.15 344.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 375.25 344.10 Td (of ) Tj ET Q q 0 0 0 rg BT 386.37 344.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 411.66 344.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.44 344.10 Td (In ) Tj ET Q q 0 0 0 rg BT 425.56 344.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 463.62 344.10 Td (during ) Tj ET Q q 0 0 0 rg BT 492.52 344.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.53 344.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 538.63 344.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td (June ) Tj ET Q q 0 0 0 rg BT 70.28 332.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 85.24 332.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 110.19 332.10 Td (we ) Tj ET Q q 0 0 0 rg BT 124.30 332.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 161.73 332.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.63 332.10 Td ($3.0 ) Tj ET Q q 0 0 0 rg BT 188.58 332.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.47 332.10 Td ( ) Tj ET Q q 0 0 0 rg BT 219.92 332.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 234.60 332.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 264.81 332.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 304.48 332.10 Td (related ) Tj ET Q q 0 0 0 rg BT 334.13 332.10 Td (to ) Tj ET Q q 0 0 0 rg BT 344.37 332.10 Td (the ) Tj ET Q q 0 0 0 rg BT 359.04 332.10 Td (retroactive ) Tj ET Q q 0 0 0 rg BT 404.24 332.10 Td (reinstatement ) Tj ET Q q 0 0 0 rg BT 460.56 332.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.34 332.10 Td (ener) Tj ET Q q 0 0 0 rg BT 488.37 332.10 Td (gy ) Tj ET Q q 0 0 0 rg BT 500.82 332.10 Td (ef) Tj ET Q q 0 0 0 rg BT 508.41 332.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 536.41 332.10 Td (homes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 63.15 320.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 91.24 320.10 Td (to ) Tj ET Q q 0 0 0 rg BT 100.45 320.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 121.89 320.10 Td (for ) Tj ET Q q 0 0 0 rg BT 134.98 320.10 Td (which ) Tj ET Q q 0 0 0 rg BT 160.86 320.10 Td (we ) Tj ET Q q 0 0 0 rg BT 173.95 320.10 Td (obtained ) Tj ET Q q 0 0 0 rg BT 209.82 320.10 Td (certifications ) Tj ET Q q 0 0 0 rg BT 263.45 320.10 Td (in ) Tj ET Q q 0 0 0 rg BT 272.66 320.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 294.10 320.10 Td (\(please ) Tj ET Q q 0 0 0 rg BT 323.85 320.10 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 338.0517578125 318.7669921875 m 368.9248046875 318.7669921875 l s q 0 0 1 rg BT 338.05 320.10 Td (Note ) Tj ET Q q 0 0 1 rg BT 358.92 320.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 368.92 320.10 Td ( ) Tj ET Q q 0 0 0 rg BT 370.36 320.10 Td (to ) Tj ET Q q 0 0 0 rg BT 379.57 320.10 Td (our ) Tj ET Q q 0 0 0 rg BT 394.34 320.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 430.75 320.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 474.40 320.10 Td (for ) Tj ET Q q 0 0 0 rg BT 487.49 320.10 Td (more ) Tj ET Q q 0 0 0 rg BT 509.47 320.10 Td (information\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (Six Months Ended June 30, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.98 296.10 Td ( Compar) Tj ET Q q 0 0 0 rg BT 226.85 296.10 Td (ed to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.18 296.10 Td (Six Months Ended June 30, 2017) Tj ET Q BT /F2 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 87.54 272.10 Td (Region. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.09 272.10 Td ( ) Tj ET Q q 0 0 0 rg BT 126.69 272.10 Td (During ) Tj ET Q q 0 0 0 rg BT 158.61 272.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.42 272.10 Td (first ) Tj ET Q q 0 0 0 rg BT 194.13 272.10 Td (half ) Tj ET Q q 0 0 0 rg BT 213.27 272.10 Td (of ) Tj ET Q q 0 0 0 rg BT 225.20 272.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.20 272.10 Td (, ) Tj ET Q q 0 0 0 rg BT 251.29 272.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 310.44 272.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 345.68 272.10 Td (in ) Tj ET Q q 0 0 0 rg BT 357.06 272.10 Td (our ) Tj ET Q q 0 0 0 rg BT 373.98 272.10 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 412.58 272.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.72 272.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.48 272.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.07 272.10 Td ($70.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.97 272.10 Td (, ) Tj ET Q q 0 0 0 rg BT 543.06 272.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td ($314.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.39 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 110.29 260.10 Td (in ) Tj ET Q q 0 0 0 rg BT 119.97 260.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.08 260.10 Td (first ) Tj ET Q q 0 0 0 rg BT 152.09 260.10 Td (six ) Tj ET Q q 0 0 0 rg BT 165.66 260.10 Td (months ) Tj ET Q q 0 0 0 rg BT 197.01 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 207.24 260.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.24 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 229.14 260.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.82 260.10 Td ($385.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.71 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.61 260.10 Td (in ) Tj ET Q q 0 0 0 rg BT 309.29 260.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.40 260.10 Td (first ) Tj ET Q q 0 0 0 rg BT 341.41 260.10 Td (six ) Tj ET Q q 0 0 0 rg BT 354.98 260.10 Td (months ) Tj ET Q q 0 0 0 rg BT 386.33 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.56 260.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.56 260.10 Td (. ) Tj ET Q q 0 0 0 rg BT 420.96 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 422.72 260.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.40 260.10 Td (22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.73 260.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.62 260.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.38 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 497.28 260.10 Td (in ) Tj ET Q q 0 0 0 rg BT 506.96 260.10 Td (homebuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 84.04 248.10 Td (was ) Tj ET Q q 0 0 0 rg BT 102.48 248.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.58 248.10 Td (result ) Tj ET Q q 0 0 0 rg BT 142.69 248.10 Td (of ) Tj ET Q q 0 0 0 rg BT 153.91 248.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.24 248.10 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.57 248.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.46 248.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.21 248.10 Td ( ) Tj ET Q q 0 0 0 rg BT 223.10 248.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.77 248.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.88 248.10 Td (number ) Tj ET Q q 0 0 0 rg BT 282.31 248.10 Td (of ) Tj ET Q q 0 0 0 rg BT 293.53 248.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 322.53 248.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 362.62 248.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.95 248.10 Td (149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.95 248.10 Td ( ) Tj ET Q q 0 0 0 rg BT 383.84 248.10 Td (units, ) Tj ET Q q 0 0 0 rg BT 408.68 248.10 Td (which ) Tj ET Q q 0 0 0 rg BT 436.01 248.10 Td (benefited ) Tj ET Q q 0 0 0 rg BT 476.10 248.10 Td (from ) Tj ET Q q 0 0 0 rg BT 498.43 248.10 Td (our ) Tj ET Q q 0 0 0 rg BT 514.65 248.10 Td (new ) Tj ET Q q 0 0 0 rg BT 534.20 248.10 Td (Detroit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (division\) ) Tj ET Q q 0 0 0 rg BT 88.36 236.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.11 236.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.86 236.10 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.19 236.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.50 236.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.25 236.10 Td ( ) Tj ET Q q 0 0 0 rg BT 166.56 236.10 Td (in ) Tj ET Q q 0 0 0 rg BT 177.64 236.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.17 236.10 Td (average ) Tj ET Q q 0 0 0 rg BT 227.56 236.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 250.31 236.10 Td (price ) Tj ET Q q 0 0 0 rg BT 273.60 236.10 Td (of ) Tj ET Q q 0 0 0 rg BT 285.24 236.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 314.66 236.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 355.17 236.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 236.10 Td ($14,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 236.10 Td ( ) Tj ET Q q 0 0 0 rg BT 394.30 236.10 Td (per ) Tj ET Q q 0 0 0 rg BT 410.38 236.10 Td (home ) Tj ET Q q 0 0 0 rg BT 435.91 236.10 Td (delivered\), ) Tj ET Q q 0 0 0 rg BT 482.25 236.10 Td (of) Tj ET Q q 0 0 0 rg BT 490.40 236.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 508.14 236.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 544.77 236.10 Td (by ) Tj ET Q q 0 0 0 rg BT 558.08 236.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td ($0.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 224.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.88 224.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.29 224.10 Td ( ) Tj ET Q q 0 0 0 rg BT 137.78 224.10 Td (in ) Tj ET Q q 0 0 0 rg BT 148.05 224.10 Td (land ) Tj ET Q q 0 0 0 rg BT 167.75 224.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 185.79 224.10 Td (revenue. ) Tj ET Q q 0 0 0 rg BT 222.42 224.10 Td ( ) Tj ET Q q 0 0 0 rg BT 224.91 224.10 Td (Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.38 224.10 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.81 224.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.30 224.10 Td (in ) Tj ET Q q 0 0 0 rg BT 309.57 224.10 Td (our ) Tj ET Q q 0 0 0 rg BT 325.39 224.10 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 362.87 224.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.91 224.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.32 224.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.81 224.10 Td ($1.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.70 224.10 Td (, ) Tj ET Q q 0 0 0 rg BT 486.69 224.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.62 224.10 Td ($32.8million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (during ) Tj ET Q q 0 0 0 rg BT 78.16 212.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.92 212.10 Td (first ) Tj ET Q q 0 0 0 rg BT 111.58 212.10 Td (half ) Tj ET Q q 0 0 0 rg BT 129.68 212.10 Td (of ) Tj ET Q q 0 0 0 rg BT 140.55 212.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.55 212.10 Td ( ) Tj ET Q q 0 0 0 rg BT 163.10 212.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.43 212.10 Td ($31.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.32 212.10 Td ( ) Tj ET Q q 0 0 0 rg BT 229.87 212.10 Td (during ) Tj ET Q q 0 0 0 rg BT 258.53 212.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.29 212.10 Td (six ) Tj ET Q q 0 0 0 rg BT 287.51 212.10 Td (months ) Tj ET Q q 0 0 0 rg BT 319.51 212.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 345.94 212.10 Td (June ) Tj ET Q q 0 0 0 rg BT 366.81 212.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 381.86 212.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.86 212.10 Td (. ) Tj ET Q q 0 0 0 rg BT 406.91 212.10 Td ( ) Tj ET Q q 0 0 0 rg BT 409.28 212.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.37 212.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.79 212.10 Td ( ) Tj ET Q q 0 0 0 rg BT 464.34 212.10 Td (in ) Tj ET Q q 0 0 0 rg BT 474.66 212.10 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.98 212.10 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.41 212.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.96 212.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 89.91 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 105.32 200.10 Td (result ) Tj ET Q q 0 0 0 rg BT 130.73 200.10 Td (of ) Tj ET Q q 0 0 0 rg BT 142.25 200.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.88 200.10 Td ($5.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.77 200.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.97 200.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.72 200.10 Td ( ) Tj ET Q q 0 0 0 rg BT 237.91 200.10 Td (in ) Tj ET Q q 0 0 0 rg BT 248.88 200.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 281.24 200.10 Td (general, ) Tj ET Q q 0 0 0 rg BT 316.36 200.10 Td (and ) Tj ET Q q 0 0 0 rg BT 333.99 200.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 394.39 200.10 Td (expense, ) Tj ET Q q 0 0 0 rg BT 432.29 200.10 Td (of) Tj ET Q q 0 0 0 rg BT 440.44 200.10 Td (fset, ) Tj ET Q q 0 0 0 rg BT 460.57 200.10 Td (in ) Tj ET Q q 0 0 0 rg BT 471.55 200.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 492.79 200.10 Td (by ) Tj ET Q q 0 0 0 rg BT 505.98 200.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.61 200.10 Td ($3.4million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 188.10 Td ( ) Tj ET Q q 0 0 0 rg BT 84.88 188.10 Td (in ) Tj ET Q q 0 0 0 rg BT 95.28 188.10 Td (our ) Tj ET Q q 0 0 0 rg BT 111.24 188.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 134.98 188.10 Td (mar) Tj ET Q q 0 0 0 rg BT 150.35 188.10 Td (gin. ) Tj ET Q q 0 0 0 rg BT 168.25 188.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.69 188.10 Td (W) Tj ET Q q 0 0 0 rg BT 179.72 188.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 192.91 188.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 223.85 188.10 Td (to ) Tj ET Q q 0 0 0 rg BT 234.25 188.10 Td (our ) Tj ET Q q 0 0 0 rg BT 250.21 188.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 308.39 188.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 332.13 188.10 Td (mar) Tj ET Q q 0 0 0 rg BT 347.49 188.10 Td (gin, ) Tj ET Q q 0 0 0 rg BT 365.40 188.10 Td (our ) Tj ET Q q 0 0 0 rg BT 381.35 188.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 415.65 188.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 439.39 188.10 Td (mar) Tj ET Q q 0 0 0 rg BT 454.75 188.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.16 188.10 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.48 188.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.11 188.10 Td ($3.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.00 188.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (due ) Tj ET Q q 0 0 0 rg BT 66.03 176.10 Td (to ) Tj ET Q q 0 0 0 rg BT 75.91 176.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.22 176.10 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.55 176.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.65 176.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.40 176.10 Td ( ) Tj ET Q q 0 0 0 rg BT 145.50 176.10 Td (in ) Tj ET Q q 0 0 0 rg BT 155.37 176.10 Td (the ) Tj ET Q q 0 0 0 rg BT 169.69 176.10 Td (number ) Tj ET Q q 0 0 0 rg BT 202.33 176.10 Td (of ) Tj ET Q q 0 0 0 rg BT 212.76 176.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 240.96 176.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 280.26 176.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.79 176.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.11 176.10 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.44 176.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.53 176.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.29 176.10 Td ( ) Tj ET Q q 0 0 0 rg BT 361.38 176.10 Td (in ) Tj ET Q q 0 0 0 rg BT 371.26 176.10 Td (the ) Tj ET Q q 0 0 0 rg BT 385.57 176.10 Td (average ) Tj ET Q q 0 0 0 rg BT 418.75 176.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 440.28 176.10 Td (price ) Tj ET Q q 0 0 0 rg BT 462.37 176.10 Td (of ) Tj ET Q q 0 0 0 rg BT 472.79 176.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 501.00 176.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 540.30 176.10 Td (noted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (above. ) Tj ET Q q 0 0 0 rg BT 78.08 164.10 Td ( ) Tj ET Q q 0 0 0 rg BT 80.28 164.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 98.04 164.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 131.91 164.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 155.22 164.10 Td (mar) Tj ET Q q 0 0 0 rg BT 170.59 164.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 185.57 164.10 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.07 164.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.94 164.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.15 164.10 Td (280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.15 164.10 Td ( ) Tj ET Q q 0 0 0 rg BT 284.35 164.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 306.55 164.10 Td (points ) Tj ET Q q 0 0 0 rg BT 333.20 164.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.84 164.10 Td (20.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.67 164.10 Td ( ) Tj ET Q q 0 0 0 rg BT 382.87 164.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.85 164.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 414.50 164.10 Td (year's ) Tj ET Q q 0 0 0 rg BT 439.60 164.10 Td (first ) Tj ET Q q 0 0 0 rg BT 457.91 164.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.46 164.10 Td ( ) Tj ET Q q 0 0 0 rg BT 475.66 164.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.64 164.10 Td (17.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.47 164.10 Td ( ) Tj ET Q q 0 0 0 rg BT 513.67 164.10 Td (for ) Tj ET Q q 0 0 0 rg BT 527.53 164.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 164.10 Td (same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (period ) Tj ET Q q 0 0 0 rg BT 78.25 152.10 Td (in ) Tj ET Q q 0 0 0 rg BT 89.24 152.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.24 152.10 Td (. ) Tj ET Q q 0 0 0 rg BT 114.95 152.10 Td ( ) Tj ET Q q 0 0 0 rg BT 118.16 152.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 136.92 152.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 171.79 152.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 196.12 152.10 Td (mar) Tj ET Q q 0 0 0 rg BT 211.48 152.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 227.47 152.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.34 152.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 271.24 152.10 Td (first ) Tj ET Q q 0 0 0 rg BT 290.55 152.10 Td (six ) Tj ET Q q 0 0 0 rg BT 305.43 152.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.88 152.10 Td ( ) Tj ET Q q 0 0 0 rg BT 338.09 152.10 Td (was ) Tj ET Q q 0 0 0 rg BT 356.85 152.10 Td (unfavorably ) Tj ET Q q 0 0 0 rg BT 408.37 152.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 448.23 152.10 Td (by ) Tj ET Q q 0 0 0 rg BT 461.44 152.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.08 152.10 Td ($3.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.98 152.10 Td ( ) Tj ET Q q 0 0 0 rg BT 521.18 152.10 Td (char) Tj ET Q q 0 0 0 rg BT 538.21 152.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 550.86 152.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 86.76 140.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 132.35 140.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 181.84 140.10 Td (from ) Tj ET Q q 0 0 0 rg BT 203.00 140.10 Td (our ) Tj ET Q q 0 0 0 rg BT 218.05 140.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 244.20 140.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 274.24 140.10 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 322.34 140.10 Td ( ) Tj ET Q q 0 0 0 rg BT 324.06 140.10 Td (Exclusive ) Tj ET Q q 0 0 0 rg BT 365.22 140.10 Td (of ) Tj ET Q q 0 0 0 rg BT 375.27 140.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.21 140.10 Td ($3.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.10 140.10 Td ( ) Tj ET Q q 0 0 0 rg BT 439.82 140.10 Td (char) Tj ET Q q 0 0 0 rg BT 456.84 140.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 468.00 140.10 Td (for ) Tj ET Q q 0 0 0 rg BT 481.38 140.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 518.64 140.10 Td (accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 100.58 128.10 Td (related ) Tj ET Q q 0 0 0 rg BT 131.08 128.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.17 128.10 Td (our ) Tj ET Q q 0 0 0 rg BT 158.80 128.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 205.99 128.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.62 128.10 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 255.36 128.10 Td (Homes ) Tj ET Q q 0 0 0 rg BT 287.00 128.10 Td (in ) Tj ET Q q 0 0 0 rg BT 298.08 128.10 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 332.21 128.10 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 373.84 128.10 Td (on ) Tj ET Q q 0 0 0 rg BT 387.14 128.10 Td (March ) Tj ET Q q 0 0 0 rg BT 416.55 128.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 427.35 128.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 453.16 128.10 Td (our ) Tj ET Q q 0 0 0 rg BT 469.79 128.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 506.42 128.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 541.40 128.10 Td (gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (mar) Tj ET Q q 0 0 0 rg BT 64.87 116.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 80.60 116.10 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.86 116.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.73 116.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.69 116.10 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.69 116.10 Td ( ) Tj ET Q q 0 0 0 rg BT 181.65 116.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 204.61 116.10 Td (points ) Tj ET Q q 0 0 0 rg BT 232.01 116.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.75 116.10 Td (18.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.58 116.10 Td ( ) Tj ET Q q 0 0 0 rg BT 271.54 116.10 Td (for ) Tj ET Q q 0 0 0 rg BT 286.16 116.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.33 116.10 Td (first ) Tj ET Q q 0 0 0 rg BT 320.40 116.10 Td (half ) Tj ET Q q 0 0 0 rg BT 338.90 116.10 Td (of ) Tj ET Q q 0 0 0 rg BT 350.19 116.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.19 116.10 Td ( ) Tj ET Q q 0 0 0 rg BT 373.15 116.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 413.32 116.10 Td (due ) Tj ET Q q 0 0 0 rg BT 430.71 116.10 Td (to ) Tj ET Q q 0 0 0 rg BT 441.45 116.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 482.16 116.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 495.68 116.10 Td (and ) Tj ET Q q 0 0 0 rg BT 513.07 116.10 Td (construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 71.92 104.10 Td (as ) Tj ET Q q 0 0 0 rg BT 82.67 104.10 Td (well ) Tj ET Q q 0 0 0 rg BT 102.31 104.10 Td (as ) Tj ET Q q 0 0 0 rg BT 113.05 104.10 Td (a ) Tj ET Q q 0 0 0 rg BT 119.91 104.10 Td (change ) Tj ET Q q 0 0 0 rg BT 150.65 104.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.85 104.10 Td (product ) Tj ET Q q 0 0 0 rg BT 193.81 104.10 Td (type ) Tj ET Q q 0 0 0 rg BT 213.45 104.10 Td (and ) Tj ET Q q 0 0 0 rg BT 230.31 104.10 Td (market ) Tj ET Q q 0 0 0 rg BT 260.49 104.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 278.46 104.10 Td (of ) Tj ET Q q 0 0 0 rg BT 289.21 104.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 317.74 104.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 357.36 104.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 399.21 104.10 Td (to ) Tj ET Q q 0 0 0 rg BT 409.40 104.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 431.26 104.10 Td (year) Tj ET Q q 0 0 0 rg BT 447.92 104.10 Td (. ) Tj ET Q q 0 0 0 rg BT 452.84 104.10 Td ( ) Tj ET Q q 0 0 0 rg BT 455.26 104.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 473.23 104.10 Td (land ) Tj ET Q q 0 0 0 rg BT 492.86 104.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 510.83 104.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 534.36 104.10 Td (mar) Tj ET Q q 0 0 0 rg BT 549.73 104.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (declined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.87 92.10 Td ($0.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.76 92.10 Td ( ) Tj ET Q q 0 0 0 rg BT 137.26 92.10 Td (as ) Tj ET Q q 0 0 0 rg BT 148.09 92.10 Td (a ) Tj ET Q q 0 0 0 rg BT 155.03 92.10 Td (result ) Tj ET Q q 0 0 0 rg BT 179.75 92.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.58 92.10 Td (fewer ) Tj ET Q q 0 0 0 rg BT 215.84 92.10 Td (strategic ) Tj ET Q q 0 0 0 rg BT 252.21 92.10 Td (land ) Tj ET Q q 0 0 0 rg BT 271.93 92.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 293.87 92.10 Td (in ) Tj ET Q q 0 0 0 rg BT 304.14 92.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.86 92.10 Td (first ) Tj ET Q q 0 0 0 rg BT 337.47 92.10 Td (half ) Tj ET Q q 0 0 0 rg BT 355.52 92.10 Td (of ) Tj ET Q q 0 0 0 rg BT 366.35 92.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.35 92.10 Td ( ) Tj ET Q q 0 0 0 rg BT 388.85 92.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 430.77 92.10 Td (to ) Tj ET Q q 0 0 0 rg BT 441.05 92.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.76 92.10 Td (same ) Tj ET Q q 0 0 0 rg BT 478.81 92.10 Td (period ) Tj ET Q q 0 0 0 rg BT 506.86 92.10 Td (in ) Tj ET Q q 0 0 0 rg BT 517.14 92.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.14 92.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.10 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 82.63 68.10 Td (general ) Tj ET Q q 0 0 0 rg BT 114.34 68.10 Td (and ) Tj ET Q q 0 0 0 rg BT 131.07 68.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 190.56 68.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.06 68.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.82 68.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.11 68.10 Td ($5.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 68.10 Td (, ) Tj ET Q q 0 0 0 rg BT 318.79 68.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.52 68.10 Td ($30.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.41 68.10 Td ( ) Tj ET Q q 0 0 0 rg BT 396.70 68.10 Td (for ) Tj ET Q q 0 0 0 rg BT 410.65 68.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 68.10 Td (six ) Tj ET Q q 0 0 0 rg BT 439.11 68.10 Td (months ) Tj ET Q q 0 0 0 rg BT 470.85 68.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 497.02 68.10 Td (June ) Tj ET Q q 0 0 0 rg BT 517.64 68.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 532.43 68.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.43 68.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.72 68.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.10 Td ($35.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 56.10 Td ( ) Tj ET Q q 0 0 0 rg BT 105.76 56.10 Td (for ) Tj ET Q q 0 0 0 rg BT 119.78 56.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.37 56.10 Td (six ) Tj ET Q q 0 0 0 rg BT 148.40 56.10 Td (months ) Tj ET Q q 0 0 0 rg BT 180.22 56.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 206.46 56.10 Td (June ) Tj ET Q q 0 0 0 rg BT 227.15 56.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 242.02 56.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.02 56.10 Td (, ) Tj ET Q q 0 0 0 rg BT 266.89 56.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.69 56.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.56 56.10 Td ( ) Tj ET Q q 0 0 0 rg BT 319.93 56.10 Td (as ) Tj ET Q q 0 0 0 rg BT 330.62 56.10 Td (a ) Tj ET Q q 0 0 0 rg BT 337.43 56.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 383.09 56.10 Td (of ) Tj ET Q q 0 0 0 rg BT 393.79 56.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 427.80 56.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.94 56.10 Td (9.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.77 56.10 Td ( ) Tj ET Q q 0 0 0 rg BT 461.14 56.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 502.93 56.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.07 56.10 Td (9.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.90 56.10 Td ( ) Tj ET Q q 0 0 0 rg BT 536.27 56.10 Td (for ) Tj ET Q q 0 0 0 rg BT 550.30 56.10 Td (the ) Tj ET Q endstream endobj 89 0 obj <>] /Rotate 0 /Contents 90 0 R>> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 742.10 Td (same ) Tj ET Q q 0 0 0 rg BT 71.79 742.10 Td (period ) Tj ET Q q 0 0 0 rg BT 99.09 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 108.62 742.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.62 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 132.86 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 134.49 742.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.78 742.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.53 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 186.28 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 195.81 742.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 226.72 742.10 Td (general ) Tj ET Q q 0 0 0 rg BT 257.89 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 274.08 742.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 333.04 742.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 366.99 742.10 Td (was ) Tj ET Q q 0 0 0 rg BT 384.29 742.10 Td (attributable, ) Tj ET Q q 0 0 0 rg BT 434.08 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 443.60 742.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 463.40 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 472.92 742.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.11 742.10 Td ($3.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.75 742.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.23 730.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 89.85 730.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 125.01 730.10 Td (due ) Tj ET Q q 0 0 0 rg BT 142.40 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 153.13 730.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 167.74 730.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.13 730.10 Td ($2.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.02 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.97 730.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.72 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 262.68 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 273.41 730.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 308.56 730.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 338.18 730.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 377.23 730.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 415.17 730.10 Td (from ) Tj ET Q q 0 0 0 rg BT 437.56 730.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 477.16 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 487.89 730.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 510.28 730.10 Td (commissions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.10 Td (produced ) Tj ET Q q 0 0 0 rg BT 89.02 718.10 Td (by ) Tj ET Q q 0 0 0 rg BT 101.34 718.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.87 718.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.42 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 143.73 718.10 Td (average ) Tj ET Q q 0 0 0 rg BT 177.13 718.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 198.89 718.10 Td (price ) Tj ET Q q 0 0 0 rg BT 221.19 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 231.84 718.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 260.26 718.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 299.78 718.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.53 718.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.08 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 344.40 718.10 Td (number ) Tj ET Q q 0 0 0 rg BT 377.26 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 387.90 718.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 416.33 718.10 Td (delivered, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.35 718.10 Td ($1.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.24 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 509.55 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 520.20 718.10 Td (which ) Tj ET Q q 0 0 0 rg BT 546.95 718.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 92.57 706.10 Td (with ) Tj ET Q q 0 0 0 rg BT 112.33 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 127.64 706.10 Td (new ) Tj ET Q q 0 0 0 rg BT 146.28 706.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 176.59 706.10 Td (division, ) Tj ET Q q 0 0 0 rg BT 213.29 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 229.71 706.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 243.35 706.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.77 706.10 Td ($1.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.66 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.64 706.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.40 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 335.38 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 345.13 706.10 Td (non-variable ) Tj ET Q q 0 0 0 rg BT 397.65 706.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 426.29 706.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 464.37 706.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 503.56 706.10 Td (related ) Tj ET Q q 0 0 0 rg BT 532.74 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 542.50 706.10 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 92.57 694.10 Td (with ) Tj ET Q q 0 0 0 rg BT 112.32 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 127.62 694.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 169.59 694.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 191.00 694.10 Td (of) Tj ET Q q 0 0 0 rg BT 199.15 694.10 Td (fices ) Tj ET Q q 0 0 0 rg BT 220.00 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 236.41 694.10 Td (models ) Tj ET Q q 0 0 0 rg BT 267.28 694.10 Td (as ) Tj ET Q q 0 0 0 rg BT 277.58 694.10 Td (a ) Tj ET Q q 0 0 0 rg BT 283.99 694.10 Td (result ) Tj ET Q q 0 0 0 rg BT 308.18 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 318.49 694.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.79 694.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.55 694.10 Td (d ) Tj ET Q q 0 0 0 rg BT 373.52 694.10 Td (community ) Tj ET Q q 0 0 0 rg BT 421.05 694.10 Td (count, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.74 694.10 Td ($0.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.63 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 498.60 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 508.91 694.10 Td (which ) Tj ET Q q 0 0 0 rg BT 535.32 694.10 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.20 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.46 682.10 Td (new ) Tj ET Q q 0 0 0 rg BT 96.04 682.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 127.29 682.10 Td (division. ) Tj ET Q q 0 0 0 rg BT 164.94 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 167.66 682.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.13 682.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.88 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 221.81 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 232.51 682.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 264.60 682.10 Td (general ) Tj ET Q q 0 0 0 rg BT 296.95 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 314.31 682.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 374.44 682.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 409.58 682.10 Td (was ) Tj ET Q q 0 0 0 rg BT 428.05 682.10 Td (also ) Tj ET Q q 0 0 0 rg BT 447.09 682.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 495.55 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 506.25 682.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.61 682.10 Td ($1.1million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 84.75 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 95.03 670.10 Td (general ) Tj ET Q q 0 0 0 rg BT 126.96 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 143.89 670.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 203.60 670.10 Td (expense, ) Tj ET Q q 0 0 0 rg BT 240.81 670.10 Td (which ) Tj ET Q q 0 0 0 rg BT 267.75 670.10 Td (was ) Tj ET Q q 0 0 0 rg BT 285.80 670.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 325.51 670.10 Td (related ) Tj ET Q q 0 0 0 rg BT 355.21 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 365.49 670.10 Td (incremental ) Tj ET Q q 0 0 0 rg BT 415.19 670.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 437.69 670.10 Td (from ) Tj ET Q q 0 0 0 rg BT 459.63 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 475.46 670.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 506.28 670.10 Td (acquisition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 648.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.31 648.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 648.10 Td (six ) Tj ET Q q 0 0 0 rg BT 109.15 648.10 Td (months ) Tj ET Q q 0 0 0 rg BT 141.07 648.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 167.43 648.10 Td (June ) Tj ET Q q 0 0 0 rg BT 188.23 648.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 203.21 648.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.21 648.10 Td (, ) Tj ET Q q 0 0 0 rg BT 228.19 648.10 Td (we ) Tj ET Q q 0 0 0 rg BT 242.33 648.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 293.10 648.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.02 648.10 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.35 648.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.83 648.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.58 648.10 Td ( ) Tj ET Q q 0 0 0 rg BT 356.06 648.10 Td (in ) Tj ET Q q 0 0 0 rg BT 366.31 648.10 Td (new ) Tj ET Q q 0 0 0 rg BT 385.45 648.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 424.02 648.10 Td (in ) Tj ET Q q 0 0 0 rg BT 434.28 648.10 Td (our ) Tj ET Q q 0 0 0 rg BT 450.08 648.10 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 487.56 648.10 Td (region, ) Tj ET Q q 0 0 0 rg BT 518.08 648.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.00 648.10 Td (1,087) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 636.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.08 636.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.10 636.10 Td (six ) Tj ET Q q 0 0 0 rg BT 89.57 636.10 Td (months ) Tj ET Q q 0 0 0 rg BT 121.82 636.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 148.50 636.10 Td (June ) Tj ET Q q 0 0 0 rg BT 169.64 636.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 184.94 636.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.94 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 207.74 636.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.32 636.10 Td (1,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.82 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 243.63 636.10 Td (in ) Tj ET Q q 0 0 0 rg BT 254.21 636.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.23 636.10 Td (first ) Tj ET Q q 0 0 0 rg BT 288.14 636.10 Td (half ) Tj ET Q q 0 0 0 rg BT 306.49 636.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.62 636.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.62 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 340.42 636.10 Td (\(which ) Tj ET Q q 0 0 0 rg BT 370.99 636.10 Td (benefited ) Tj ET Q q 0 0 0 rg BT 411.00 636.10 Td (from ) Tj ET Q q 0 0 0 rg BT 433.24 636.10 Td (our ) Tj ET Q q 0 0 0 rg BT 449.37 636.10 Td (new ) Tj ET Q q 0 0 0 rg BT 468.84 636.10 Td (Detroit ) Tj ET Q q 0 0 0 rg BT 499.96 636.10 Td (division\), ) Tj ET Q q 0 0 0 rg BT 540.82 636.10 Td (and ) Tj ET Q q 0 0 0 rg BT 558.06 636.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 624.10 Td (29%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.83 624.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.99 624.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.74 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 104.90 624.10 Td (in ) Tj ET Q q 0 0 0 rg BT 114.83 624.10 Td (backlog ) Tj ET Q q 0 0 0 rg BT 148.65 624.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.24 624.10 Td (1,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.74 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.90 624.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 223.17 624.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.54 624.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 268.03 624.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.03 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 290.18 624.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.12 624.10 Td (1,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.62 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 324.78 624.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 353.04 624.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.42 624.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 397.90 624.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.90 624.10 Td (. ) Tj ET Q q 0 0 0 rg BT 422.56 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 424.56 624.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.27 624.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.02 624.10 Td (s ) Tj ET Q q 0 0 0 rg BT 481.07 624.10 Td (in ) Tj ET Q q 0 0 0 rg BT 491.00 624.10 Td (new ) Tj ET Q q 0 0 0 rg BT 509.82 624.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 548.07 624.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 612.10 Td (backlog ) Tj ET Q q 0 0 0 rg BT 83.63 612.10 Td (were ) Tj ET Q q 0 0 0 rg BT 105.54 612.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 141.34 612.10 Td (due ) Tj ET Q q 0 0 0 rg BT 158.26 612.10 Td (to ) Tj ET Q q 0 0 0 rg BT 168.52 612.10 Td (improving ) Tj ET Q q 0 0 0 rg BT 212.66 612.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 246.80 612.10 Td (in ) Tj ET Q q 0 0 0 rg BT 257.06 612.10 Td (our ) Tj ET Q q 0 0 0 rg BT 272.87 612.10 Td (newer ) Tj ET Q q 0 0 0 rg BT 299.77 612.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 353.91 612.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 395.82 612.10 Td (to ) Tj ET Q q 0 0 0 rg BT 406.07 612.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 427.99 612.10 Td (year ) Tj ET Q q 0 0 0 rg BT 447.68 612.10 Td (and ) Tj ET Q q 0 0 0 rg BT 464.60 612.10 Td (due ) Tj ET Q q 0 0 0 rg BT 481.51 612.10 Td (to ) Tj ET Q q 0 0 0 rg BT 491.77 612.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.69 612.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.44 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 538.92 612.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.18 612.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 600.10 Td (average ) Tj ET Q q 0 0 0 rg BT 81.94 600.10 Td (number ) Tj ET Q q 0 0 0 rg BT 113.83 600.10 Td (of ) Tj ET Q q 0 0 0 rg BT 123.52 600.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 176.53 600.10 Td (during ) Tj ET Q q 0 0 0 rg BT 203.99 600.10 Td (the ) Tj ET Q q 0 0 0 rg BT 217.56 600.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 246.95 600.10 Td (and ) Tj ET Q q 0 0 0 rg BT 262.74 600.10 Td (backlog ) Tj ET Q q 0 0 0 rg BT 295.75 600.10 Td (also ) Tj ET Q q 0 0 0 rg BT 313.21 600.10 Td (benefited ) Tj ET Q q 0 0 0 rg BT 351.76 600.10 Td (from ) Tj ET Q q 0 0 0 rg BT 372.55 600.10 Td (the ) Tj ET Q q 0 0 0 rg BT 386.12 600.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 420.25 600.10 Td (of ) Tj ET Q q 0 0 0 rg BT 429.93 600.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 457.39 600.10 Td (from ) Tj ET Q q 0 0 0 rg BT 478.18 600.10 Td (our ) Tj ET Q q 0 0 0 rg BT 492.86 600.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 518.64 600.10 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 588.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.92 588.10 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 96.43 588.10 Td (Homes ) Tj ET Q q 0 0 0 rg BT 126.85 588.10 Td (in ) Tj ET Q q 0 0 0 rg BT 136.71 588.10 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 169.62 588.10 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 210.03 588.10 Td (on ) Tj ET Q q 0 0 0 rg BT 222.12 588.10 Td (March ) Tj ET Q q 0 0 0 rg BT 250.30 588.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 259.89 588.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 284.47 588.10 Td ( ) Tj ET Q q 0 0 0 rg BT 286.10 588.10 Td (A) Tj ET Q q 0 0 0 rg BT 292.58 588.10 Td (verage ) Tj ET Q q 0 0 0 rg BT 321.31 588.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 342.83 588.10 Td (price ) Tj ET Q q 0 0 0 rg BT 364.90 588.10 Td (in ) Tj ET Q q 0 0 0 rg BT 374.76 588.10 Td (backlog ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.50 588.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.26 588.10 Td ( ) Tj ET Q q 0 0 0 rg BT 448.34 588.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.21 588.10 Td ($420,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.71 588.10 Td ( ) Tj ET Q q 0 0 0 rg BT 497.79 588.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.09 588.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 542.51 588.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 576.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 90.90 576.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.65 576.10 Td ($401,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.15 576.10 Td ( ) Tj ET Q q 0 0 0 rg BT 140.12 576.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.32 576.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 184.62 576.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.62 576.10 Td ( ) Tj ET Q q 0 0 0 rg BT 206.59 576.10 Td (which ) Tj ET Q q 0 0 0 rg BT 233.01 576.10 Td (was ) Tj ET Q q 0 0 0 rg BT 250.53 576.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 289.72 576.10 Td (due ) Tj ET Q q 0 0 0 rg BT 306.13 576.10 Td (to ) Tj ET Q q 0 0 0 rg BT 315.88 576.10 Td (product ) Tj ET Q q 0 0 0 rg BT 348.40 576.10 Td (type ) Tj ET Q q 0 0 0 rg BT 367.60 576.10 Td (and ) Tj ET Q q 0 0 0 rg BT 384.01 576.10 Td (market ) Tj ET Q q 0 0 0 rg BT 413.75 576.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 431.28 576.10 Td (in ) Tj ET Q q 0 0 0 rg BT 441.03 576.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.22 576.10 Td (first ) Tj ET Q q 0 0 0 rg BT 473.30 576.10 Td (half ) Tj ET Q q 0 0 0 rg BT 490.82 576.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.13 576.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.13 576.10 Td ( ) Tj ET Q q 0 0 0 rg BT 523.10 576.10 Td (compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 564.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.65 564.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.23 564.10 Td (same ) Tj ET Q q 0 0 0 rg BT 97.15 564.10 Td (period ) Tj ET Q q 0 0 0 rg BT 125.07 564.10 Td (last ) Tj ET Q q 0 0 0 rg BT 141.32 564.10 Td (year) Tj ET Q q 0 0 0 rg BT 157.98 564.10 Td (. ) Tj ET Q q 0 0 0 rg BT 162.85 564.10 Td ( ) Tj ET Q q 0 0 0 rg BT 165.22 564.10 Td (During ) Tj ET Q q 0 0 0 rg BT 195.92 564.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.50 564.10 Td (six ) Tj ET Q q 0 0 0 rg BT 224.54 564.10 Td (months ) Tj ET Q q 0 0 0 rg BT 256.36 564.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 282.61 564.10 Td (June ) Tj ET Q q 0 0 0 rg BT 303.31 564.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 318.18 564.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.18 564.10 Td (, ) Tj ET Q q 0 0 0 rg BT 343.05 564.10 Td (we ) Tj ET Q q 0 0 0 rg BT 357.08 564.10 Td (opened ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.32 564.10 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.32 564.10 Td ( ) Tj ET Q q 0 0 0 rg BT 400.69 564.10 Td (new ) Tj ET Q q 0 0 0 rg BT 419.72 564.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 473.75 564.10 Td (in ) Tj ET Q q 0 0 0 rg BT 483.90 564.10 Td (our ) Tj ET Q q 0 0 0 rg BT 499.60 564.10 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 536.97 564.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 552.10 Td (\(excluding ) Tj ET Q q 0 0 0 rg BT 94.72 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 109.40 552.10 Td (10 ) Tj ET Q q 0 0 0 rg BT 121.85 552.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 175.97 552.10 Td (added ) Tj ET Q q 0 0 0 rg BT 202.31 552.10 Td (as ) Tj ET Q q 0 0 0 rg BT 213.09 552.10 Td (part ) Tj ET Q q 0 0 0 rg BT 231.10 552.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.88 552.10 Td (our ) Tj ET Q q 0 0 0 rg BT 257.67 552.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 304.01 552.10 Td (in ) Tj ET Q q 0 0 0 rg BT 314.25 552.10 Td (Detroit\) ) Tj ET Q q 0 0 0 rg BT 348.36 552.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 390.24 552.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.48 552.10 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.48 552.10 Td ( ) Tj ET Q q 0 0 0 rg BT 412.94 552.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 552.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 469.65 552.10 Td (first ) Tj ET Q q 0 0 0 rg BT 488.22 552.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.76 552.10 Td (. ) Tj ET Q q 0 0 0 rg BT 508.72 552.10 Td ( ) Tj ET Q q 0 0 0 rg BT 511.18 552.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 529.19 552.10 Td (monthly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 540.10 Td (absorption ) Tj ET Q q 0 0 0 rg BT 94.16 540.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 111.58 540.10 Td (in ) Tj ET Q q 0 0 0 rg BT 121.80 540.10 Td (our ) Tj ET Q q 0 0 0 rg BT 137.57 540.10 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 175.01 540.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.99 540.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.86 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 239.30 540.10 Td (slightly ) Tj ET Q q 0 0 0 rg BT 271.75 540.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.96 540.10 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.46 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 296.90 540.10 Td (per ) Tj ET Q q 0 0 0 rg BT 312.11 540.10 Td (community ) Tj ET Q q 0 0 0 rg BT 360.10 540.10 Td (in ) Tj ET Q q 0 0 0 rg BT 370.32 540.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.97 540.10 Td (first ) Tj ET Q q 0 0 0 rg BT 403.52 540.10 Td (half ) Tj ET Q q 0 0 0 rg BT 421.51 540.10 Td (of ) Tj ET Q q 0 0 0 rg BT 432.28 540.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.28 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 454.71 540.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.59 540.10 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.09 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 491.53 540.10 Td (per ) Tj ET Q q 0 0 0 rg BT 506.74 540.10 Td (community ) Tj ET Q q 0 0 0 rg BT 554.73 540.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 528.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.22 528.10 Td (first ) Tj ET Q q 0 0 0 rg BT 82.83 528.10 Td (half ) Tj ET Q q 0 0 0 rg BT 100.87 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 111.70 528.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.70 528.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 506.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 92.33 506.10 Td (Region.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 124.28 506.10 Td ( ) Tj ET Q q 0 0 0 rg BT 128.76 506.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.23 506.10 Td (During ) Tj ET Q q 0 0 0 rg BT 166.04 506.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.73 506.10 Td (six ) Tj ET Q q 0 0 0 rg BT 198.88 506.10 Td (months ) Tj ET Q q 0 0 0 rg BT 232.81 506.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 261.16 506.10 Td (June ) Tj ET Q q 0 0 0 rg BT 283.97 506.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 300.95 506.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.95 506.10 Td (, ) Tj ET Q q 0 0 0 rg BT 327.92 506.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 387.95 506.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 424.07 506.10 Td (in ) Tj ET Q q 0 0 0 rg BT 436.33 506.10 Td (our ) Tj ET Q q 0 0 0 rg BT 454.14 506.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 494.72 506.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.75 506.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 494.10 Td ($99.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 494.10 Td (, ) Tj ET Q q 0 0 0 rg BT 109.36 494.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.26 494.10 Td ($328.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.15 494.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.61 494.10 Td (in ) Tj ET Q q 0 0 0 rg BT 205.86 494.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.54 494.10 Td (first ) Tj ET Q q 0 0 0 rg BT 241.11 494.10 Td (half ) Tj ET Q q 0 0 0 rg BT 260.12 494.10 Td (of ) Tj ET Q q 0 0 0 rg BT 271.92 494.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.92 494.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.38 494.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.62 494.10 Td ($428.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.52 494.10 Td ( ) Tj ET Q q 0 0 0 rg BT 368.98 494.10 Td (in ) Tj ET Q q 0 0 0 rg BT 380.22 494.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.90 494.10 Td (first ) Tj ET Q q 0 0 0 rg BT 415.48 494.10 Td (half ) Tj ET Q q 0 0 0 rg BT 434.49 494.10 Td (of ) Tj ET Q q 0 0 0 rg BT 446.28 494.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.28 494.10 Td (. ) Tj ET Q q 0 0 0 rg BT 472.25 494.10 Td ( ) Tj ET Q q 0 0 0 rg BT 475.46 494.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.70 494.10 Td (30%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.03 494.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 494.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.25 494.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.72 494.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 482.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 107.95 482.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 142.49 482.10 Td (was ) Tj ET Q q 0 0 0 rg BT 160.94 482.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.05 482.10 Td (result ) Tj ET Q q 0 0 0 rg BT 201.17 482.10 Td (of ) Tj ET Q q 0 0 0 rg BT 212.39 482.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.73 482.10 Td (29%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.06 482.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.96 482.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.71 482.10 Td ( ) Tj ET Q q 0 0 0 rg BT 276.61 482.10 Td (in ) Tj ET Q q 0 0 0 rg BT 287.28 482.10 Td (the ) Tj ET Q q 0 0 0 rg BT 302.40 482.10 Td (number ) Tj ET Q q 0 0 0 rg BT 335.84 482.10 Td (of ) Tj ET Q q 0 0 0 rg BT 347.07 482.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 376.07 482.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 416.17 482.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.50 482.10 Td (268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 482.10 Td ( ) Tj ET Q q 0 0 0 rg BT 437.40 482.10 Td (units\) ) Tj ET Q q 0 0 0 rg BT 463.07 482.10 Td (and ) Tj ET Q q 0 0 0 rg BT 480.41 482.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.75 482.10 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.08 482.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.97 482.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.73 482.10 Td ( ) Tj ET Q q 0 0 0 rg BT 539.62 482.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.30 482.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 470.10 Td (average ) Tj ET Q q 0 0 0 rg BT 82.36 470.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 103.57 470.10 Td (price ) Tj ET Q q 0 0 0 rg BT 125.33 470.10 Td (of ) Tj ET Q q 0 0 0 rg BT 135.43 470.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 163.31 470.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 202.28 470.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.61 470.10 Td ($8,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.11 470.10 Td ( ) Tj ET Q q 0 0 0 rg BT 234.89 470.10 Td (per ) Tj ET Q q 0 0 0 rg BT 249.43 470.10 Td (home ) Tj ET Q q 0 0 0 rg BT 273.42 470.10 Td (delivered\), ) Tj ET Q q 0 0 0 rg BT 318.22 470.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 353.31 470.10 Td (of) Tj ET Q q 0 0 0 rg BT 361.46 470.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 377.67 470.10 Td (by ) Tj ET Q q 0 0 0 rg BT 389.45 470.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.66 470.10 Td ($3.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.55 470.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.32 470.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.74 470.10 Td ( ) Tj ET Q q 0 0 0 rg BT 482.51 470.10 Td (in ) Tj ET Q q 0 0 0 rg BT 492.06 470.10 Td (land ) Tj ET Q q 0 0 0 rg BT 511.05 470.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 528.37 470.10 Td (revenue. ) Tj ET Q q 0 0 0 rg BT 565.01 470.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 458.10 Td (Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.67 458.10 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.11 458.10 Td ( ) Tj ET Q q 0 0 0 rg BT 125.30 458.10 Td (in ) Tj ET Q q 0 0 0 rg BT 136.26 458.10 Td (our ) Tj ET Q q 0 0 0 rg BT 152.78 458.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 192.08 458.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.81 458.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.57 458.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.76 458.10 Td ($20.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.65 458.10 Td ( ) Tj ET Q q 0 0 0 rg BT 318.84 458.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.46 458.10 Td ($13.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.35 458.10 Td ( ) Tj ET Q q 0 0 0 rg BT 398.54 458.10 Td (in ) Tj ET Q q 0 0 0 rg BT 409.51 458.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.92 458.10 Td (first ) Tj ET Q q 0 0 0 rg BT 444.21 458.10 Td (half ) Tj ET Q q 0 0 0 rg BT 462.95 458.10 Td (of ) Tj ET Q q 0 0 0 rg BT 474.47 458.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.47 458.10 Td ( ) Tj ET Q q 0 0 0 rg BT 497.65 458.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.62 458.10 Td ($34.2million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 446.10 Td (during ) Tj ET Q q 0 0 0 rg BT 78.15 446.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.90 446.10 Td (six ) Tj ET Q q 0 0 0 rg BT 107.11 446.10 Td (months ) Tj ET Q q 0 0 0 rg BT 139.10 446.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 165.51 446.10 Td (June ) Tj ET Q q 0 0 0 rg BT 186.38 446.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 201.42 446.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.42 446.10 Td (. ) Tj ET Q q 0 0 0 rg BT 226.46 446.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.81 446.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.13 446.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.88 446.10 Td ( ) Tj ET Q q 0 0 0 rg BT 284.42 446.10 Td (in ) Tj ET Q q 0 0 0 rg BT 294.73 446.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 335.04 446.10 Td (income ) Tj ET Q q 0 0 0 rg BT 367.01 446.10 Td (was ) Tj ET Q q 0 0 0 rg BT 385.10 446.10 Td (the ) Tj ET Q q 0 0 0 rg BT 399.85 446.10 Td (result ) Tj ET Q q 0 0 0 rg BT 424.61 446.10 Td (of ) Tj ET Q q 0 0 0 rg BT 435.48 446.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.45 446.10 Td ($28.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.34 446.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.88 446.10 Td (improvement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.20 446.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.74 446.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 434.10 Td (our ) Tj ET Q q 0 0 0 rg BT 64.25 434.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 86.79 434.10 Td (mar) Tj ET Q q 0 0 0 rg BT 102.16 434.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 116.36 434.10 Td (of) Tj ET Q q 0 0 0 rg BT 124.51 434.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 140.38 434.10 Td (by ) Tj ET Q q 0 0 0 rg BT 151.80 434.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.66 434.10 Td ($8.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.55 434.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.98 434.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.73 434.10 Td ( ) Tj ET Q q 0 0 0 rg BT 247.16 434.10 Td (in ) Tj ET Q q 0 0 0 rg BT 256.36 434.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 286.95 434.10 Td (general, ) Tj ET Q q 0 0 0 rg BT 320.30 434.10 Td (and ) Tj ET Q q 0 0 0 rg BT 336.16 434.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 394.79 434.10 Td (expense. ) Tj ET Q q 0 0 0 rg BT 430.93 434.10 Td ( ) Tj ET Q q 0 0 0 rg BT 432.25 434.10 Td (W) Tj ET Q q 0 0 0 rg BT 441.29 434.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 453.27 434.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 483.01 434.10 Td (to ) Tj ET Q q 0 0 0 rg BT 492.21 434.10 Td (our ) Tj ET Q q 0 0 0 rg BT 506.97 434.10 Td (homebuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 422.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 73.19 422.10 Td (mar) Tj ET Q q 0 0 0 rg BT 88.56 422.10 Td (gin, ) Tj ET Q q 0 0 0 rg BT 106.42 422.10 Td (our ) Tj ET Q q 0 0 0 rg BT 122.33 422.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 146.02 422.10 Td (mar) Tj ET Q q 0 0 0 rg BT 161.39 422.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 176.75 422.10 Td (on ) Tj ET Q q 0 0 0 rg BT 189.33 422.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 218.02 422.10 Td (delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.80 422.10 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.13 422.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.71 422.10 Td ($28.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.60 422.10 Td (, ) Tj ET Q q 0 0 0 rg BT 357.68 422.10 Td (due ) Tj ET Q q 0 0 0 rg BT 374.70 422.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 414.49 422.10 Td (to ) Tj ET Q q 0 0 0 rg BT 424.85 422.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 422.10 Td (29%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.98 422.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.56 422.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.31 422.10 Td ( ) Tj ET Q q 0 0 0 rg BT 495.89 422.10 Td (in ) Tj ET Q q 0 0 0 rg BT 506.25 422.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.05 422.10 Td (number ) Tj ET Q q 0 0 0 rg BT 554.18 422.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 410.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 78.53 410.10 Td (delivered, ) Tj ET Q q 0 0 0 rg BT 121.16 410.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.31 410.10 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.64 410.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.56 410.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.32 410.10 Td ( ) Tj ET Q q 0 0 0 rg BT 188.24 410.10 Td (in ) Tj ET Q q 0 0 0 rg BT 198.95 410.10 Td (the ) Tj ET Q q 0 0 0 rg BT 214.09 410.10 Td (average ) Tj ET Q q 0 0 0 rg BT 248.10 410.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 270.47 410.10 Td (price ) Tj ET Q q 0 0 0 rg BT 293.38 410.10 Td (of ) Tj ET Q q 0 0 0 rg BT 304.63 410.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 333.67 410.10 Td (delivered, ) Tj ET Q q 0 0 0 rg BT 376.30 410.10 Td (and ) Tj ET Q q 0 0 0 rg BT 393.66 410.10 Td (the ) Tj ET Q q 0 0 0 rg BT 408.80 410.10 Td (absence ) Tj ET Q q 0 0 0 rg BT 443.38 410.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.63 410.10 Td ($8.5 ) Tj ET Q q 0 0 0 rg BT 475.06 410.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.95 410.10 Td ( ) Tj ET Q q 0 0 0 rg BT 506.88 410.10 Td (in ) Tj ET Q q 0 0 0 rg BT 517.58 410.10 Td (char) Tj ET Q q 0 0 0 rg BT 534.61 410.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 550.86 410.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 398.10 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 108.54 398.10 Td (repair ) Tj ET Q q 0 0 0 rg BT 134.82 398.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 157.78 398.10 Td (in ) Tj ET Q q 0 0 0 rg BT 168.52 398.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 198.69 398.10 Td (of ) Tj ET Q q 0 0 0 rg BT 209.98 398.10 Td (our ) Tj ET Q q 0 0 0 rg BT 226.28 398.10 Td (Florida ) Tj ET Q q 0 0 0 rg BT 258.13 398.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 312.75 398.10 Td (taken ) Tj ET Q q 0 0 0 rg BT 337.37 398.10 Td (during ) Tj ET Q q 0 0 0 rg BT 366.44 398.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.62 398.10 Td (first ) Tj ET Q q 0 0 0 rg BT 400.69 398.10 Td (half ) Tj ET Q q 0 0 0 rg BT 419.20 398.10 Td (of ) Tj ET Q q 0 0 0 rg BT 430.49 398.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.49 398.10 Td ( ) Tj ET Q q 0 0 0 rg BT 453.45 398.10 Td (\(as ) Tj ET Q q 0 0 0 rg BT 468.08 398.10 Td (more ) Tj ET Q q 0 0 0 rg BT 491.59 398.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 513.44 398.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 554.73 398.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 384.7669921875 m 76.51318359375 384.7669921875 l s q 0 0 1 rg BT 49.50 386.10 Td (Note ) Tj ET Q q 0 0 1 rg BT 71.51 386.10 Td (6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 76.51 386.10 Td ( ) Tj ET Q q 0 0 0 rg BT 79.09 386.10 Td (to ) Tj ET Q q 0 0 0 rg BT 89.44 386.10 Td (our ) Tj ET Q q 0 0 0 rg BT 105.35 386.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 142.90 386.10 Td (statements\). ) Tj ET Q q 0 0 0 rg BT 193.52 386.10 Td ( ) Tj ET Q q 0 0 0 rg BT 196.09 386.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 214.22 386.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 248.46 386.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 272.15 386.10 Td (mar) Tj ET Q q 0 0 0 rg BT 287.52 386.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 302.87 386.10 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.75 386.10 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.07 386.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 386.10 Td (300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 386.10 Td ( ) Tj ET Q q 0 0 0 rg BT 407.22 386.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 429.80 386.10 Td (points ) Tj ET Q q 0 0 0 rg BT 456.82 386.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.83 386.10 Td (15.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.66 386.10 Td ( ) Tj ET Q q 0 0 0 rg BT 507.24 386.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.59 386.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 539.60 386.10 Td (year's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 374.10 Td (first ) Tj ET Q q 0 0 0 rg BT 68.15 374.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.69 374.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.23 374.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.55 374.10 Td (18.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.38 374.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.92 374.10 Td (for ) Tj ET Q q 0 0 0 rg BT 139.11 374.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.87 374.10 Td (same ) Tj ET Q q 0 0 0 rg BT 176.95 374.10 Td (period ) Tj ET Q q 0 0 0 rg BT 205.04 374.10 Td (in ) Tj ET Q q 0 0 0 rg BT 215.36 374.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.36 374.10 Td (. ) Tj ET Q q 0 0 0 rg BT 240.39 374.10 Td ( ) Tj ET Q q 0 0 0 rg BT 242.93 374.10 Td (Exclusive ) Tj ET Q q 0 0 0 rg BT 284.90 374.10 Td (of ) Tj ET Q q 0 0 0 rg BT 295.77 374.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.53 374.10 Td ($8.5 ) Tj ET Q q 0 0 0 rg BT 330.56 374.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.46 374.10 Td ( ) Tj ET Q q 0 0 0 rg BT 361.99 374.10 Td (char) Tj ET Q q 0 0 0 rg BT 379.02 374.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 391.00 374.10 Td (for ) Tj ET Q q 0 0 0 rg BT 405.20 374.10 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 463.81 374.10 Td (repair ) Tj ET Q q 0 0 0 rg BT 489.67 374.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 512.20 374.10 Td (taken ) Tj ET Q q 0 0 0 rg BT 536.40 374.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 362.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 77.70 362.10 Td (first ) Tj ET Q q 0 0 0 rg BT 96.31 362.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.86 362.10 Td (, ) Tj ET Q q 0 0 0 rg BT 116.86 362.10 Td (our ) Tj ET Q q 0 0 0 rg BT 132.70 362.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 168.53 362.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 202.70 362.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 226.32 362.10 Td (mar) Tj ET Q q 0 0 0 rg BT 241.69 362.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 256.97 362.10 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.78 362.10 Td (improved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.10 362.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.61 362.10 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.61 362.10 Td ( ) Tj ET Q q 0 0 0 rg BT 356.11 362.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 378.62 362.10 Td (points ) Tj ET Q q 0 0 0 rg BT 405.57 362.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.51 362.10 Td (18.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.34 362.10 Td ( ) Tj ET Q q 0 0 0 rg BT 455.85 362.10 Td (for ) Tj ET Q q 0 0 0 rg BT 470.01 362.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.73 362.10 Td (first ) Tj ET Q q 0 0 0 rg BT 503.35 362.10 Td (half ) Tj ET Q q 0 0 0 rg BT 521.40 362.10 Td (of ) Tj ET Q q 0 0 0 rg BT 532.23 362.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.23 362.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.74 362.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 350.10 Td (18.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.33 350.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.41 350.10 Td (for ) Tj ET Q q 0 0 0 rg BT 91.15 350.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.44 350.10 Td (first ) Tj ET Q q 0 0 0 rg BT 123.63 350.10 Td (half ) Tj ET Q q 0 0 0 rg BT 141.26 350.10 Td (of ) Tj ET Q q 0 0 0 rg BT 151.67 350.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.67 350.10 Td (, ) Tj ET Q q 0 0 0 rg BT 176.25 350.10 Td (lar) Tj ET Q q 0 0 0 rg BT 186.61 350.10 Td (gely ) Tj ET Q q 0 0 0 rg BT 205.91 350.10 Td (due ) Tj ET Q q 0 0 0 rg BT 222.43 350.10 Td (to ) Tj ET Q q 0 0 0 rg BT 232.28 350.10 Td (the ) Tj ET Q q 0 0 0 rg BT 246.58 350.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 264.21 350.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.62 350.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 328.36 350.10 Td (delivering ) Tj ET Q q 0 0 0 rg BT 370.98 350.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 399.17 350.10 Td (and ) Tj ET Q q 0 0 0 rg BT 415.69 350.10 Td (a ) Tj ET Q q 0 0 0 rg BT 422.21 350.10 Td (more ) Tj ET Q q 0 0 0 rg BT 444.83 350.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 484.67 350.10 Td (product ) Tj ET Q q 0 0 0 rg BT 517.29 350.10 Td (mix, ) Tj ET Q q 0 0 0 rg BT 537.43 350.10 Td (of) Tj ET Q q 0 0 0 rg BT 545.58 350.10 Td (fset, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 338.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.49 338.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 79.75 338.10 Td (by ) Tj ET Q q 0 0 0 rg BT 91.96 338.10 Td (rising ) Tj ET Q q 0 0 0 rg BT 116.95 338.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 129.71 338.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 154.43 338.10 Td ( ) Tj ET Q q 0 0 0 rg BT 156.64 338.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 174.40 338.10 Td (land ) Tj ET Q q 0 0 0 rg BT 193.83 338.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 211.58 338.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 234.91 338.10 Td (mar) Tj ET Q q 0 0 0 rg BT 250.28 338.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 265.26 338.10 Td (remained ) Tj ET Q q 0 0 0 rg BT 304.68 338.10 Td (flat ) Tj ET Q q 0 0 0 rg BT 320.21 338.10 Td (in ) Tj ET Q q 0 0 0 rg BT 330.20 338.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.63 338.10 Td (first ) Tj ET Q q 0 0 0 rg BT 362.95 338.10 Td (half ) Tj ET Q q 0 0 0 rg BT 380.71 338.10 Td (of ) Tj ET Q q 0 0 0 rg BT 391.25 338.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.25 338.10 Td ( ) Tj ET Q q 0 0 0 rg BT 413.46 338.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 455.09 338.10 Td (to ) Tj ET Q q 0 0 0 rg BT 465.08 338.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.51 338.10 Td (same ) Tj ET Q q 0 0 0 rg BT 502.27 338.10 Td (period ) Tj ET Q q 0 0 0 rg BT 530.03 338.10 Td (in ) Tj ET Q q 0 0 0 rg BT 540.02 338.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.02 338.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 316.10 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 82.66 316.10 Td (general ) Tj ET Q q 0 0 0 rg BT 114.41 316.10 Td (and ) Tj ET Q q 0 0 0 rg BT 131.17 316.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 190.70 316.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.23 316.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.98 316.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.30 316.10 Td ($8.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.20 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 316.52 316.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.28 316.10 Td ($38.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.17 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 394.50 316.10 Td (in ) Tj ET Q q 0 0 0 rg BT 404.60 316.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.14 316.10 Td (first ) Tj ET Q q 0 0 0 rg BT 437.57 316.10 Td (half ) Tj ET Q q 0 0 0 rg BT 455.44 316.10 Td (of ) Tj ET Q q 0 0 0 rg BT 466.09 316.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.09 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 488.42 316.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.52 316.10 Td ($46.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.41 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.73 316.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 304.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.01 304.10 Td (first ) Tj ET Q q 0 0 0 rg BT 82.41 304.10 Td (half ) Tj ET Q q 0 0 0 rg BT 100.25 304.10 Td (of ) Tj ET Q q 0 0 0 rg BT 110.88 304.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.88 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.17 304.10 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.24 304.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.12 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 184.41 304.10 Td (as ) Tj ET Q q 0 0 0 rg BT 195.03 304.10 Td (a ) Tj ET Q q 0 0 0 rg BT 201.77 304.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 247.36 304.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.99 304.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 291.92 304.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 304.10 Td (10.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.83 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 330.12 304.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 371.84 304.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.91 304.10 Td (1) Tj ET Q q 0 0 0 rg BT 386.54 304.10 Td (1.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.37 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 409.66 304.10 Td (for ) Tj ET Q q 0 0 0 rg BT 423.62 304.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.13 304.10 Td (first ) Tj ET Q q 0 0 0 rg BT 456.53 304.10 Td (half ) Tj ET Q q 0 0 0 rg BT 474.37 304.10 Td (of ) Tj ET Q q 0 0 0 rg BT 485.00 304.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 304.10 Td (. ) Tj ET Q q 0 0 0 rg BT 509.79 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 511.92 304.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.76 304.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.01 292.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 91.90 292.10 Td (general ) Tj ET Q q 0 0 0 rg BT 124.05 292.10 Td (and ) Tj ET Q q 0 0 0 rg BT 141.21 292.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 201.15 292.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 236.08 292.10 Td (was ) Tj ET Q q 0 0 0 rg BT 254.36 292.10 Td (attributable, ) Tj ET Q q 0 0 0 rg BT 305.13 292.10 Td (in ) Tj ET Q q 0 0 0 rg BT 315.63 292.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 336.40 292.10 Td (to ) Tj ET Q q 0 0 0 rg BT 346.91 292.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.08 292.10 Td ($6.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.97 292.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.69 292.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.45 292.10 Td ( ) Tj ET Q q 0 0 0 rg BT 441.17 292.10 Td (in ) Tj ET Q q 0 0 0 rg BT 451.68 292.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 481.07 292.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 516.01 292.10 Td (due ) Tj ET Q q 0 0 0 rg BT 533.17 292.10 Td (to ) Tj ET Q q 0 0 0 rg BT 543.68 292.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 558.06 292.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 280.10 Td ($4.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 280.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.05 280.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.81 280.10 Td ( ) Tj ET Q q 0 0 0 rg BT 136.47 280.10 Td (in ) Tj ET Q q 0 0 0 rg BT 146.91 280.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 181.77 280.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 211.10 280.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 249.86 280.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 287.51 280.10 Td (from ) Tj ET Q q 0 0 0 rg BT 309.61 280.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 348.92 280.10 Td (in ) Tj ET Q q 0 0 0 rg BT 359.36 280.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 381.46 280.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 436.35 280.10 Td (produced ) Tj ET Q q 0 0 0 rg BT 476.21 280.10 Td (by ) Tj ET Q q 0 0 0 rg BT 488.88 280.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.75 280.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.30 280.10 Td ( ) Tj ET Q q 0 0 0 rg BT 531.96 280.10 Td (number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 268.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.14 268.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 90.56 268.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 131.07 268.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.82 268.10 Td (higher) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.36 268.10 Td ( ) Tj ET Q q 0 0 0 rg BT 177.67 268.10 Td (average ) Tj ET Q q 0 0 0 rg BT 212.07 268.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 234.82 268.10 Td (price ) Tj ET Q q 0 0 0 rg BT 258.11 268.10 Td (of ) Tj ET Q q 0 0 0 rg BT 269.75 268.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 299.17 268.10 Td (delivered, ) Tj ET Q q 0 0 0 rg BT 342.18 268.10 Td (and ) Tj ET Q q 0 0 0 rg BT 359.93 268.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 374.90 268.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 268.10 Td ($1.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.54 268.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.85 268.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.60 268.10 Td ( ) Tj ET Q q 0 0 0 rg BT 470.91 268.10 Td (in ) Tj ET Q q 0 0 0 rg BT 482.00 268.10 Td (non-variable ) Tj ET Q q 0 0 0 rg BT 535.84 268.10 Td (selling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 256.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 87.63 256.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 126.87 256.10 Td (related ) Tj ET Q q 0 0 0 rg BT 156.11 256.10 Td (to ) Tj ET Q q 0 0 0 rg BT 165.92 256.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 187.95 256.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 231.07 256.10 Td (with ) Tj ET Q q 0 0 0 rg BT 250.88 256.10 Td (our ) Tj ET Q q 0 0 0 rg BT 266.24 256.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 287.71 256.10 Td (of) Tj ET Q q 0 0 0 rg BT 295.86 256.10 Td (fices ) Tj ET Q q 0 0 0 rg BT 316.77 256.10 Td (and ) Tj ET Q q 0 0 0 rg BT 333.24 256.10 Td (models ) Tj ET Q q 0 0 0 rg BT 364.16 256.10 Td (as ) Tj ET Q q 0 0 0 rg BT 374.52 256.10 Td (a ) Tj ET Q q 0 0 0 rg BT 380.99 256.10 Td (result ) Tj ET Q q 0 0 0 rg BT 405.24 256.10 Td (of ) Tj ET Q q 0 0 0 rg BT 415.60 256.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.96 256.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.71 256.10 Td (d ) Tj ET Q q 0 0 0 rg BT 470.75 256.10 Td (community ) Tj ET Q q 0 0 0 rg BT 518.33 256.10 Td (count. ) Tj ET Q q 0 0 0 rg BT 545.08 256.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.96 256.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 244.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 244.10 Td ( ) Tj ET Q q 0 0 0 rg BT 84.03 244.10 Td (in ) Tj ET Q q 0 0 0 rg BT 93.58 244.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 124.51 244.10 Td (general ) Tj ET Q q 0 0 0 rg BT 155.71 244.10 Td (and ) Tj ET Q q 0 0 0 rg BT 171.92 244.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 230.90 244.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 264.88 244.10 Td (was ) Tj ET Q q 0 0 0 rg BT 282.21 244.10 Td (also ) Tj ET Q q 0 0 0 rg BT 300.09 244.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 347.40 244.10 Td (to ) Tj ET Q q 0 0 0 rg BT 356.95 244.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.16 244.10 Td ($1.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.05 244.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.82 244.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.58 244.10 Td ( ) Tj ET Q q 0 0 0 rg BT 448.35 244.10 Td (in ) Tj ET Q q 0 0 0 rg BT 457.90 244.10 Td (general ) Tj ET Q q 0 0 0 rg BT 489.09 244.10 Td (and ) Tj ET Q q 0 0 0 rg BT 505.31 244.10 Td (administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 232.10 Td (expense, ) Tj ET Q q 0 0 0 rg BT 87.21 232.10 Td (which ) Tj ET Q q 0 0 0 rg BT 114.65 232.10 Td (was ) Tj ET Q q 0 0 0 rg BT 133.21 232.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 173.42 232.10 Td (related ) Tj ET Q q 0 0 0 rg BT 203.63 232.10 Td (to ) Tj ET Q q 0 0 0 rg BT 214.41 232.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.85 232.10 Td ($0.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.74 232.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.74 232.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.50 232.10 Td ( ) Tj ET Q q 0 0 0 rg BT 309.50 232.10 Td (in ) Tj ET Q q 0 0 0 rg BT 320.28 232.10 Td (professional ) Tj ET Q q 0 0 0 rg BT 372.16 232.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 391.26 232.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.70 232.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 232.10 Td ($0.9 ) Tj ET Q q 0 0 0 rg BT 436.65 232.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.54 232.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.54 232.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.30 232.10 Td ( ) Tj ET Q q 0 0 0 rg BT 504.30 232.10 Td (in ) Tj ET Q q 0 0 0 rg BT 515.08 232.10 Td (land ) Tj ET Q q 0 0 0 rg BT 535.30 232.10 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 220.10 Td (expenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.25 198.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.90 198.10 Td (six ) Tj ET Q q 0 0 0 rg BT 108.99 198.10 Td (months ) Tj ET Q q 0 0 0 rg BT 140.86 198.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 167.16 198.10 Td (June ) Tj ET Q q 0 0 0 rg BT 187.92 198.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 202.84 198.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.84 198.10 Td (, ) Tj ET Q q 0 0 0 rg BT 227.77 198.10 Td (we ) Tj ET Q q 0 0 0 rg BT 241.85 198.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 292.58 198.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.44 198.10 Td (28%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.77 198.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.19 198.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.95 198.10 Td ( ) Tj ET Q q 0 0 0 rg BT 355.37 198.10 Td (in ) Tj ET Q q 0 0 0 rg BT 365.57 198.10 Td (new ) Tj ET Q q 0 0 0 rg BT 384.66 198.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 423.18 198.10 Td (in ) Tj ET Q q 0 0 0 rg BT 433.38 198.10 Td (our ) Tj ET Q q 0 0 0 rg BT 449.13 198.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 487.67 198.10 Td (region, ) Tj ET Q q 0 0 0 rg BT 518.14 198.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.00 198.10 Td (1,215) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.35 186.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.65 186.10 Td (six ) Tj ET Q q 0 0 0 rg BT 87.39 186.10 Td (months ) Tj ET Q q 0 0 0 rg BT 118.91 186.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 144.87 186.10 Td (June ) Tj ET Q q 0 0 0 rg BT 165.27 186.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 179.85 186.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.85 186.10 Td ( ) Tj ET Q q 0 0 0 rg BT 201.92 186.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.78 186.10 Td (1,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.28 186.10 Td ( ) Tj ET Q q 0 0 0 rg BT 236.35 186.10 Td (in ) Tj ET Q q 0 0 0 rg BT 246.20 186.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.50 186.10 Td (first ) Tj ET Q q 0 0 0 rg BT 278.68 186.10 Td (half ) Tj ET Q q 0 0 0 rg BT 296.30 186.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.71 186.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.71 186.10 Td (, ) Tj ET Q q 0 0 0 rg BT 331.28 186.10 Td (and ) Tj ET Q q 0 0 0 rg BT 347.80 186.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.31 186.10 Td (32%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.64 186.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.71 186.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.47 186.10 Td ( ) Tj ET Q q 0 0 0 rg BT 409.54 186.10 Td (in ) Tj ET Q q 0 0 0 rg BT 419.40 186.10 Td (backlog ) Tj ET Q q 0 0 0 rg BT 453.13 186.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.64 186.10 Td (950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.64 186.10 Td ( ) Tj ET Q q 0 0 0 rg BT 491.72 186.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 519.90 186.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.19 186.10 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 174.10 Td ( ) Tj ET Q q 0 0 0 rg BT 71.31 174.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.90 174.10 Td (1,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.40 174.10 Td ( ) Tj ET Q q 0 0 0 rg BT 105.21 174.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 133.13 174.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.16 174.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 177.30 174.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.30 174.10 Td (. ) Tj ET Q q 0 0 0 rg BT 201.61 174.10 Td ( ) Tj ET Q q 0 0 0 rg BT 203.29 174.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.64 174.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.40 174.10 Td (s ) Tj ET Q q 0 0 0 rg BT 259.10 174.10 Td (in ) Tj ET Q q 0 0 0 rg BT 268.69 174.10 Td (new ) Tj ET Q q 0 0 0 rg BT 287.16 174.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 325.06 174.10 Td (and ) Tj ET Q q 0 0 0 rg BT 341.31 174.10 Td (backlog ) Tj ET Q q 0 0 0 rg BT 374.78 174.10 Td (were ) Tj ET Q q 0 0 0 rg BT 396.02 174.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 435.04 174.10 Td (due ) Tj ET Q q 0 0 0 rg BT 451.29 174.10 Td (to ) Tj ET Q q 0 0 0 rg BT 460.88 174.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.13 174.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.88 174.10 Td ( ) Tj ET Q q 0 0 0 rg BT 506.69 174.10 Td (in ) Tj ET Q q 0 0 0 rg BT 516.28 174.10 Td (our ) Tj ET Q q 0 0 0 rg BT 531.42 174.10 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.10 Td (number ) Tj ET Q q 0 0 0 rg BT 83.06 162.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.41 162.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 149.08 162.10 Td (during ) Tj ET Q q 0 0 0 rg BT 178.21 162.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.44 162.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 224.50 162.10 Td (along ) Tj ET Q q 0 0 0 rg BT 249.73 162.10 Td (with ) Tj ET Q q 0 0 0 rg BT 270.53 162.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 326.86 162.10 Td (in ) Tj ET Q q 0 0 0 rg BT 337.65 162.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 372.32 162.10 Td (across ) Tj ET Q q 0 0 0 rg BT 400.33 162.10 Td (our ) Tj ET Q q 0 0 0 rg BT 416.68 162.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 455.80 162.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 490.47 162.10 Td (in ) Tj ET Q q 0 0 0 rg BT 501.26 162.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.49 162.10 Td (first ) Tj ET Q q 0 0 0 rg BT 535.62 162.10 Td (half ) Tj ET Q q 0 0 0 rg BT 554.18 162.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 150.10 Td ( ) Tj ET Q q 0 0 0 rg BT 71.86 150.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 113.64 150.10 Td (to ) Tj ET Q q 0 0 0 rg BT 123.78 150.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.36 150.10 Td (first ) Tj ET Q q 0 0 0 rg BT 156.83 150.10 Td (half ) Tj ET Q q 0 0 0 rg BT 174.73 150.10 Td (of ) Tj ET Q q 0 0 0 rg BT 185.42 150.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.42 150.10 Td (. ) Tj ET Q q 0 0 0 rg BT 210.28 150.10 Td ( ) Tj ET Q q 0 0 0 rg BT 212.12 150.10 Td (A) Tj ET Q q 0 0 0 rg BT 218.60 150.10 Td (verage ) Tj ET Q q 0 0 0 rg BT 247.61 150.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 269.41 150.10 Td (price ) Tj ET Q q 0 0 0 rg BT 291.75 150.10 Td (in ) Tj ET Q q 0 0 0 rg BT 301.89 150.10 Td (backlog ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.90 150.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.66 150.10 Td ( ) Tj ET Q q 0 0 0 rg BT 376.02 150.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.82 150.10 Td ($347,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.32 150.10 Td ( ) Tj ET Q q 0 0 0 rg BT 437.68 150.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.25 150.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 482.94 150.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.94 150.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.30 150.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.44 150.10 Td ($363,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.94 150.10 Td ( ) Tj ET Q q 0 0 0 rg BT 555.30 150.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 86.29 138.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.29 138.10 Td ( ) Tj ET Q q 0 0 0 rg BT 109.74 138.10 Td (due ) Tj ET Q q 0 0 0 rg BT 127.64 138.10 Td (to ) Tj ET Q q 0 0 0 rg BT 138.87 138.10 Td (a ) Tj ET Q q 0 0 0 rg BT 146.77 138.10 Td (change ) Tj ET Q q 0 0 0 rg BT 178.54 138.10 Td (in ) Tj ET Q q 0 0 0 rg BT 189.77 138.10 Td (product ) Tj ET Q q 0 0 0 rg BT 223.77 138.10 Td (type ) Tj ET Q q 0 0 0 rg BT 244.45 138.10 Td (and ) Tj ET Q q 0 0 0 rg BT 262.34 138.10 Td (market ) Tj ET Q q 0 0 0 rg BT 293.56 138.10 Td (mix. ) Tj ET Q q 0 0 0 rg BT 315.07 138.10 Td ( ) Tj ET Q q 0 0 0 rg BT 318.53 138.10 Td (During ) Tj ET Q q 0 0 0 rg BT 350.32 138.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.99 138.10 Td (six ) Tj ET Q q 0 0 0 rg BT 381.12 138.10 Td (months ) Tj ET Q q 0 0 0 rg BT 414.02 138.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 441.35 138.10 Td (June ) Tj ET Q q 0 0 0 rg BT 463.14 138.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 479.09 138.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.09 138.10 Td (, ) Tj ET Q q 0 0 0 rg BT 505.05 138.10 Td (we ) Tj ET Q q 0 0 0 rg BT 520.17 138.10 Td (opened ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.50 138.10 Td (22) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 103.49 126.10 Td (in ) Tj ET Q q 0 0 0 rg BT 113.60 126.10 Td (our ) Tj ET Q q 0 0 0 rg BT 129.26 126.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 167.69 126.10 Td (region ) Tj ET Q q 0 0 0 rg BT 195.57 126.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 237.32 126.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.43 126.10 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.43 126.10 Td ( ) Tj ET Q q 0 0 0 rg BT 259.76 126.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.20 126.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 316.22 126.10 Td (first ) Tj ET Q q 0 0 0 rg BT 334.66 126.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.20 126.10 Td (. ) Tj ET Q q 0 0 0 rg BT 355.03 126.10 Td ( ) Tj ET Q q 0 0 0 rg BT 357.36 126.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 375.24 126.10 Td (monthly ) Tj ET Q q 0 0 0 rg BT 410.91 126.10 Td (absorption ) Tj ET Q q 0 0 0 rg BT 455.45 126.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 472.77 126.10 Td (in ) Tj ET Q q 0 0 0 rg BT 482.87 126.10 Td (our ) Tj ET Q q 0 0 0 rg BT 498.53 126.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 536.97 126.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.25 114.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.75 114.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.03 114.10 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.53 114.10 Td ( ) Tj ET Q q 0 0 0 rg BT 115.03 114.10 Td (per ) Tj ET Q q 0 0 0 rg BT 130.30 114.10 Td (community ) Tj ET Q q 0 0 0 rg BT 178.35 114.10 Td (in ) Tj ET Q q 0 0 0 rg BT 188.63 114.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.35 114.10 Td (first ) Tj ET Q q 0 0 0 rg BT 221.96 114.10 Td (half ) Tj ET Q q 0 0 0 rg BT 240.00 114.10 Td (of ) Tj ET Q q 0 0 0 rg BT 250.83 114.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.83 114.10 Td ( ) Tj ET Q q 0 0 0 rg BT 273.33 114.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.27 114.10 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.77 114.10 Td ( ) Tj ET Q q 0 0 0 rg BT 310.27 114.10 Td (per ) Tj ET Q q 0 0 0 rg BT 325.54 114.10 Td (community ) Tj ET Q q 0 0 0 rg BT 373.59 114.10 Td (in ) Tj ET Q q 0 0 0 rg BT 383.87 114.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.59 114.10 Td (first ) Tj ET Q q 0 0 0 rg BT 417.20 114.10 Td (half ) Tj ET Q q 0 0 0 rg BT 435.24 114.10 Td (of ) Tj ET Q q 0 0 0 rg BT 446.07 114.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.07 114.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 104.87 92.10 Td (Region. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.40 92.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.98 92.10 Td (During ) Tj ET Q q 0 0 0 rg BT 172.90 92.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.70 92.10 Td (six ) Tj ET Q q 0 0 0 rg BT 201.96 92.10 Td (months ) Tj ET Q q 0 0 0 rg BT 233.99 92.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 260.45 92.10 Td (June ) Tj ET Q q 0 0 0 rg BT 281.36 92.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 296.45 92.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.45 92.10 Td (, ) Tj ET Q q 0 0 0 rg BT 321.53 92.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 379.67 92.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 413.90 92.10 Td (in ) Tj ET Q q 0 0 0 rg BT 424.26 92.10 Td (our ) Tj ET Q q 0 0 0 rg BT 440.18 92.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 494.97 92.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.10 92.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.10 Td ($39.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 80.10 Td ( ) Tj ET Q q 0 0 0 rg BT 105.03 80.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.11 80.10 Td ($194.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.00 80.10 Td ( ) Tj ET Q q 0 0 0 rg BT 186.64 80.10 Td (in ) Tj ET Q q 0 0 0 rg BT 196.05 80.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.91 80.10 Td (first ) Tj ET Q q 0 0 0 rg BT 227.65 80.10 Td (half ) Tj ET Q q 0 0 0 rg BT 244.84 80.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.81 80.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.81 80.10 Td ( ) Tj ET Q q 0 0 0 rg BT 276.45 80.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.86 80.10 Td ($155.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.75 80.10 Td ( ) Tj ET Q q 0 0 0 rg BT 346.39 80.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.81 80.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 383.14 80.10 Td (first ) Tj ET Q q 0 0 0 rg BT 400.89 80.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.43 80.10 Td (. ) Tj ET Q q 0 0 0 rg BT 420.57 80.10 Td ( ) Tj ET Q q 0 0 0 rg BT 422.09 80.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.51 80.10 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.84 80.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.48 80.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.89 80.10 Td ( ) Tj ET Q q 0 0 0 rg BT 497.53 80.10 Td (in ) Tj ET Q q 0 0 0 rg BT 506.95 80.10 Td (homebuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 83.46 68.10 Td (was ) Tj ET Q q 0 0 0 rg BT 101.32 68.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.85 68.10 Td (result ) Tj ET Q q 0 0 0 rg BT 140.38 68.10 Td (of ) Tj ET Q q 0 0 0 rg BT 151.03 68.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.78 68.10 Td (27%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.11 68.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.42 68.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.84 68.10 Td ( ) Tj ET Q q 0 0 0 rg BT 215.15 68.10 Td (in ) Tj ET Q q 0 0 0 rg BT 225.24 68.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.77 68.10 Td (number ) Tj ET Q q 0 0 0 rg BT 272.63 68.10 Td (of ) Tj ET Q q 0 0 0 rg BT 283.28 68.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 311.70 68.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 351.21 68.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.54 68.10 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.54 68.10 Td ( ) Tj ET Q q 0 0 0 rg BT 371.86 68.10 Td (units\) ) Tj ET Q q 0 0 0 rg BT 396.95 68.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 436.48 68.10 Td (due ) Tj ET Q q 0 0 0 rg BT 453.23 68.10 Td (to ) Tj ET Q q 0 0 0 rg BT 463.32 68.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.07 68.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.49 68.10 Td ( ) Tj ET Q q 0 0 0 rg BT 506.80 68.10 Td (in ) Tj ET Q q 0 0 0 rg BT 516.89 68.10 Td (the ) Tj ET Q q 0 0 0 rg BT 531.42 68.10 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.10 Td (number ) Tj ET Q q 0 0 0 rg BT 82.86 56.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.01 56.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 148.48 56.10 Td (during ) Tj ET Q q 0 0 0 rg BT 177.41 56.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.44 56.10 Td (period ) Tj ET Q q 0 0 0 rg BT 220.80 56.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 263.04 56.10 Td (to ) Tj ET Q q 0 0 0 rg BT 273.63 56.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 295.88 56.10 Td (year ) Tj ET Q q 0 0 0 rg BT 315.91 56.10 Td (as ) Tj ET Q q 0 0 0 rg BT 327.05 56.10 Td (a ) Tj ET Q q 0 0 0 rg BT 334.30 56.10 Td (result ) Tj ET Q q 0 0 0 rg BT 359.34 56.10 Td (of ) Tj ET Q q 0 0 0 rg BT 370.48 56.10 Td (delayed ) Tj ET Q q 0 0 0 rg BT 404.39 56.10 Td (new ) Tj ET Q q 0 0 0 rg BT 423.87 56.10 Td (replacement ) Tj ET Q q 0 0 0 rg BT 475.54 56.10 Td (community ) Tj ET Q q 0 0 0 rg BT 523.90 56.10 Td (openings, ) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 742.10 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 742.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 74.40 742.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 110.03 742.10 Td (by ) Tj ET Q q 0 0 0 rg BT 122.33 742.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.08 742.10 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.41 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.72 742.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.47 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 184.78 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 194.87 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 209.39 742.10 Td (average ) Tj ET Q q 0 0 0 rg BT 242.79 742.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 264.53 742.10 Td (price ) Tj ET Q q 0 0 0 rg BT 286.83 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 297.47 742.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 325.88 742.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 365.39 742.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.72 742.10 Td ($32,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.22 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 403.53 742.10 Td (per ) Tj ET Q q 0 0 0 rg BT 418.61 742.10 Td (home ) Tj ET Q q 0 0 0 rg BT 443.14 742.10 Td (delivered\). ) Tj ET Q q 0 0 0 rg BT 488.48 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 490.79 742.10 Td (Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.08 742.10 Td (income) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.09 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 74.24 730.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 128.26 730.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.62 730.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.04 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.85 730.10 Td ($9.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.74 730.10 Td (, ) Tj ET Q q 0 0 0 rg BT 250.06 730.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.31 730.10 Td ($16.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.20 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 327.01 730.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.61 730.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 364.11 730.10 Td (first ) Tj ET Q q 0 0 0 rg BT 382.04 730.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.58 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 399.40 730.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.99 730.10 Td ($7.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.88 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 459.70 730.10 Td (during ) Tj ET Q q 0 0 0 rg BT 487.62 730.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 730.10 Td (first ) Tj ET Q q 0 0 0 rg BT 519.57 730.10 Td (six ) Tj ET Q q 0 0 0 rg BT 533.05 730.10 Td (months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.64 718.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.64 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 85.94 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 88.55 718.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.13 718.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.55 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.35 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 156.94 718.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 197.51 718.10 Td (income ) Tj ET Q q 0 0 0 rg BT 229.75 718.10 Td (was ) Tj ET Q q 0 0 0 rg BT 248.11 718.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 288.13 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.15 718.10 Td (result ) Tj ET Q q 0 0 0 rg BT 328.17 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.31 718.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.55 718.10 Td ($1) Tj ET Q q 0 0 0 rg BT 361.18 718.10 Td (1.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.07 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.88 718.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.29 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 445.10 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 455.69 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 471.82 718.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 495.74 718.10 Td (mar) Tj ET Q q 0 0 0 rg BT 511.11 718.10 Td (gin, ) Tj ET Q q 0 0 0 rg BT 529.19 718.10 Td (partially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.10 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 706.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 74.52 706.10 Td (by ) Tj ET Q q 0 0 0 rg BT 86.95 706.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.83 706.10 Td ($2.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.72 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.15 706.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.56 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 182.00 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 192.21 706.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 223.81 706.10 Td (general ) Tj ET Q q 0 0 0 rg BT 255.66 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 272.54 706.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 332.18 706.10 Td (expense. ) Tj ET Q q 0 0 0 rg BT 369.32 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 371.57 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 380.61 706.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 393.60 706.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 424.35 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 434.56 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 450.32 706.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 508.31 706.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 531.85 706.10 Td (mar) Tj ET Q q 0 0 0 rg BT 547.22 706.10 Td (gin, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 64.73 694.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 98.31 694.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 121.33 694.10 Td (mar) Tj ET Q q 0 0 0 rg BT 136.69 694.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.38 694.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.25 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.15 694.10 Td ($1) Tj ET Q q 0 0 0 rg BT 196.78 694.10 Td (1.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.67 694.10 Td (, ) Tj ET Q q 0 0 0 rg BT 245.08 694.10 Td (due ) Tj ET Q q 0 0 0 rg BT 261.42 694.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 300.54 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 310.22 694.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.34 694.10 Td (27%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.67 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.57 694.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.99 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 380.89 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 390.57 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 404.70 694.10 Td (number ) Tj ET Q q 0 0 0 rg BT 437.15 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 447.38 694.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 475.39 694.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 514.50 694.10 Td (noted ) Tj ET Q q 0 0 0 rg BT 538.62 694.10 Td (above ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.00 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 74.49 682.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 106.42 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 117.25 682.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 151.98 682.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 176.15 682.10 Td (mar) Tj ET Q q 0 0 0 rg BT 191.52 682.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 207.35 682.10 Td (percentage, ) Tj ET Q q 0 0 0 rg BT 256.21 682.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 292.59 682.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 341.18 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 352.01 682.10 Td (delayed ) Tj ET Q q 0 0 0 rg BT 386.17 682.10 Td (openings ) Tj ET Q q 0 0 0 rg BT 425.33 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 436.72 682.10 Td (new ) Tj ET Q q 0 0 0 rg BT 456.43 682.10 Td (replacement ) Tj ET Q q 0 0 0 rg BT 508.35 682.10 Td (communities. ) Tj ET Q q 0 0 0 rg BT 565.01 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.52 670.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 101.66 670.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 125.24 670.10 Td (mar) Tj ET Q q 0 0 0 rg BT 140.60 670.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 155.85 670.10 Td (percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.62 670.10 Td (declined) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.49 670.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.96 670.10 Td (240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.96 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 255.42 670.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 277.89 670.10 Td (points ) Tj ET Q q 0 0 0 rg BT 304.81 670.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.71 670.10 Td (18.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.54 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 355.01 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 365.25 670.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 387.16 670.10 Td (year) Tj ET Q q 0 0 0 rg BT 404.74 670.10 Td () Tj ET Q q 0 0 0 rg BT 407.52 670.10 Td (s ) Tj ET Q q 0 0 0 rg BT 413.88 670.10 Td (first ) Tj ET Q q 0 0 0 rg BT 432.45 670.10 Td (half ) Tj ET Q q 0 0 0 rg BT 450.47 670.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.71 670.10 Td (16.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.54 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 489.01 670.10 Td (for ) Tj ET Q q 0 0 0 rg BT 503.14 670.10 Td (2018) Tj ET Q q 0 0 0 rg BT 525.91 670.10 Td (s ) Tj ET Q q 0 0 0 rg BT 532.27 670.10 Td (first ) Tj ET Q q 0 0 0 rg BT 550.85 670.10 Td (six ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.10 Td (month ) Tj ET Q q 0 0 0 rg BT 77.27 658.10 Td (period ) Tj ET Q q 0 0 0 rg BT 105.02 658.10 Td (as ) Tj ET Q q 0 0 0 rg BT 115.56 658.10 Td (a ) Tj ET Q q 0 0 0 rg BT 122.21 658.10 Td (result ) Tj ET Q q 0 0 0 rg BT 146.64 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 157.18 658.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 197.14 658.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 248.78 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 265.43 658.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 278.20 658.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 300.41 658.10 Td (as ) Tj ET Q q 0 0 0 rg BT 310.95 658.10 Td (well ) Tj ET Q q 0 0 0 rg BT 330.37 658.10 Td (as ) Tj ET Q q 0 0 0 rg BT 340.91 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.34 658.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 373.10 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 383.64 658.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 411.96 658.10 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 453.87 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 456.08 658.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 473.84 658.10 Td (land ) Tj ET Q q 0 0 0 rg BT 493.27 658.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 511.03 658.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 534.35 658.10 Td (mar) Tj ET Q q 0 0 0 rg BT 549.71 658.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.10 Td (also ) Tj ET Q q 0 0 0 rg BT 68.11 646.10 Td (remained ) Tj ET Q q 0 0 0 rg BT 107.81 646.10 Td (flat ) Tj ET Q q 0 0 0 rg BT 123.64 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 133.91 646.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.63 646.10 Td (first ) Tj ET Q q 0 0 0 rg BT 167.24 646.10 Td (half ) Tj ET Q q 0 0 0 rg BT 185.29 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 196.12 646.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.12 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 218.62 646.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 260.54 646.10 Td (to ) Tj ET Q q 0 0 0 rg BT 270.82 646.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.54 646.10 Td (same ) Tj ET Q q 0 0 0 rg BT 308.58 646.10 Td (period ) Tj ET Q q 0 0 0 rg BT 336.63 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 346.91 646.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.91 646.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 624.10 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 82.56 624.10 Td (general ) Tj ET Q q 0 0 0 rg BT 114.21 624.10 Td (and ) Tj ET Q q 0 0 0 rg BT 130.87 624.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 190.31 624.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.74 624.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.15 624.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.38 624.10 Td ($2.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.27 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 317.50 624.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.16 624.10 Td ($18.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.05 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 395.28 624.10 Td (in ) Tj ET Q q 0 0 0 rg BT 405.28 624.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.72 624.10 Td (first ) Tj ET Q q 0 0 0 rg BT 438.06 624.10 Td (half ) Tj ET Q q 0 0 0 rg BT 455.83 624.10 Td (of ) Tj ET Q q 0 0 0 rg BT 466.39 624.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.39 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 488.61 624.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.62 624.10 Td ($16.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.51 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.73 624.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 612.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 77.26 612.10 Td (first ) Tj ET Q q 0 0 0 rg BT 95.43 612.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.98 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 113.04 612.10 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.89 612.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.64 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 167.71 612.10 Td (as ) Tj ET Q q 0 0 0 rg BT 178.10 612.10 Td (a ) Tj ET Q q 0 0 0 rg BT 184.61 612.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 229.97 612.10 Td (of ) Tj ET Q q 0 0 0 rg BT 240.37 612.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 274.08 612.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.92 612.10 Td (10.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.75 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 311.82 612.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.32 612.10 Td (9.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 356.22 612.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.94 612.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 397.70 612.10 Td (first ) Tj ET Q q 0 0 0 rg BT 415.88 612.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.42 612.10 Td (. ) Tj ET Q q 0 0 0 rg BT 435.99 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 437.91 612.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.52 612.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.93 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 492.00 612.10 Td (in ) Tj ET Q q 0 0 0 rg BT 501.84 612.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 533.07 612.10 Td (general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 600.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.96 600.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 127.18 600.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 162.41 600.10 Td (was ) Tj ET Q q 0 0 0 rg BT 180.97 600.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 221.20 600.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 269.76 600.10 Td (to ) Tj ET Q q 0 0 0 rg BT 280.55 600.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.01 600.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.42 600.10 Td ( ) Tj ET Q q 0 0 0 rg BT 325.44 600.10 Td (in ) Tj ET Q q 0 0 0 rg BT 336.24 600.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 365.92 600.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 401.15 600.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 441.38 600.10 Td (due ) Tj ET Q q 0 0 0 rg BT 458.83 600.10 Td (to ) Tj ET Q q 0 0 0 rg BT 469.63 600.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.08 600.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.50 600.10 Td ( ) Tj ET Q q 0 0 0 rg BT 519.51 600.10 Td (in ) Tj ET Q q 0 0 0 rg BT 530.31 600.10 Td (variable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 588.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 78.67 588.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 117.26 588.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 154.76 588.10 Td (from ) Tj ET Q q 0 0 0 rg BT 176.70 588.10 Td (decreases ) Tj ET Q q 0 0 0 rg BT 217.50 588.10 Td (in ) Tj ET Q q 0 0 0 rg BT 227.78 588.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 249.72 588.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 304.45 588.10 Td (produced ) Tj ET Q q 0 0 0 rg BT 344.15 588.10 Td (by ) Tj ET Q q 0 0 0 rg BT 356.65 588.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.37 588.10 Td (lower) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.14 588.10 Td ( ) Tj ET Q q 0 0 0 rg BT 396.64 588.10 Td (number ) Tj ET Q q 0 0 0 rg BT 429.69 588.10 Td (of ) Tj ET Q q 0 0 0 rg BT 440.52 588.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 469.12 588.10 Td (delivered.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 566.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.47 566.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.32 566.10 Td (six-month ) Tj ET Q q 0 0 0 rg BT 138.51 566.10 Td (period ) Tj ET Q q 0 0 0 rg BT 166.70 566.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 193.21 566.10 Td (June ) Tj ET Q q 0 0 0 rg BT 214.18 566.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 229.31 566.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.31 566.10 Td (, ) Tj ET Q q 0 0 0 rg BT 254.45 566.10 Td (we ) Tj ET Q q 0 0 0 rg BT 268.75 566.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 319.69 566.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.76 566.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.09 566.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.73 566.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.14 566.10 Td ( ) Tj ET Q q 0 0 0 rg BT 384.78 566.10 Td (in ) Tj ET Q q 0 0 0 rg BT 395.19 566.10 Td (new ) Tj ET Q q 0 0 0 rg BT 414.49 566.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 453.22 566.10 Td (in ) Tj ET Q q 0 0 0 rg BT 463.64 566.10 Td (our ) Tj ET Q q 0 0 0 rg BT 479.60 566.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 534.45 566.10 Td (region, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 554.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.42 554.10 Td (552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.42 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 88.91 554.10 Td (in ) Tj ET Q q 0 0 0 rg BT 99.17 554.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.88 554.10 Td (first ) Tj ET Q q 0 0 0 rg BT 132.47 554.10 Td (half ) Tj ET Q q 0 0 0 rg BT 150.50 554.10 Td (of ) Tj ET Q q 0 0 0 rg BT 161.32 554.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.32 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 183.80 554.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.07 554.10 Td (466) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.07 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.55 554.10 Td (in ) Tj ET Q q 0 0 0 rg BT 221.81 554.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.52 554.10 Td (first ) Tj ET Q q 0 0 0 rg BT 255.11 554.10 Td (six ) Tj ET Q q 0 0 0 rg BT 269.27 554.10 Td (months ) Tj ET Q q 0 0 0 rg BT 301.20 554.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.01 554.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.01 554.10 Td (, ) Tj ET Q q 0 0 0 rg BT 337.00 554.10 Td (and ) Tj ET Q q 0 0 0 rg BT 353.92 554.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.85 554.10 Td (1) Tj ET Q q 0 0 0 rg BT 370.48 554.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.81 554.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.29 554.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.71 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 423.19 554.10 Td (in ) Tj ET Q q 0 0 0 rg BT 433.46 554.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.16 554.10 Td (number ) Tj ET Q q 0 0 0 rg BT 481.19 554.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.00 554.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 520.60 554.10 Td (in ) Tj ET Q q 0 0 0 rg BT 530.86 554.10 Td (backlog ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 542.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.15 542.10 Td (431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.15 542.10 Td ( ) Tj ET Q q 0 0 0 rg BT 88.36 542.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 116.67 542.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.10 542.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 161.64 542.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.64 542.10 Td ( ) Tj ET Q q 0 0 0 rg BT 183.84 542.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.83 542.10 Td (385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.83 542.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.04 542.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 239.36 542.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.78 542.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 284.32 542.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.32 542.10 Td (. ) Tj ET Q q 0 0 0 rg BT 309.03 542.10 Td ( ) Tj ET Q q 0 0 0 rg BT 311.08 542.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.83 542.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.25 542.10 Td (s ) Tj ET Q q 0 0 0 rg BT 369.35 542.10 Td (in ) Tj ET Q q 0 0 0 rg BT 379.33 542.10 Td (new ) Tj ET Q q 0 0 0 rg BT 398.20 542.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 436.51 542.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.15 542.10 Td (backlog ) Tj ET Q q 0 0 0 rg BT 487.02 542.10 Td (were ) Tj ET Q q 0 0 0 rg BT 508.65 542.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 548.07 542.10 Td (due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 530.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.08 530.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.31 530.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.72 530.10 Td ( ) Tj ET Q q 0 0 0 rg BT 104.52 530.10 Td (in ) Tj ET Q q 0 0 0 rg BT 115.10 530.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.11 530.10 Td (average ) Tj ET Q q 0 0 0 rg BT 163.99 530.10 Td (number ) Tj ET Q q 0 0 0 rg BT 197.33 530.10 Td (of ) Tj ET Q q 0 0 0 rg BT 208.46 530.10 Td (active ) Tj ET Q q 0 0 0 rg BT 235.13 530.10 Td (communities ) Tj ET Q q 0 0 0 rg BT 289.59 530.10 Td (during ) Tj ET Q q 0 0 0 rg BT 318.49 530.10 Td (the ) Tj ET Q q 0 0 0 rg BT 333.51 530.10 Td (period ) Tj ET Q q 0 0 0 rg BT 361.85 530.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 404.07 530.10 Td (to ) Tj ET Q q 0 0 0 rg BT 414.65 530.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.66 530.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 451.90 530.10 Td (year ) Tj ET Q q 0 0 0 rg BT 471.90 530.10 Td (as ) Tj ET Q q 0 0 0 rg BT 483.03 530.10 Td (a ) Tj ET Q q 0 0 0 rg BT 490.26 530.10 Td (result ) Tj ET Q q 0 0 0 rg BT 515.28 530.10 Td (of ) Tj ET Q q 0 0 0 rg BT 526.40 530.10 Td (delays ) Tj ET Q q 0 0 0 rg BT 554.75 530.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 518.10 Td (replacement ) Tj ET Q q 0 0 0 rg BT 101.14 518.10 Td (community ) Tj ET Q q 0 0 0 rg BT 149.48 518.10 Td (openings ) Tj ET Q q 0 0 0 rg BT 188.37 518.10 Td (in ) Tj ET Q q 0 0 0 rg BT 198.93 518.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.93 518.10 Td (period ) Tj ET Q q 0 0 0 rg BT 242.26 518.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 284.47 518.10 Td (to ) Tj ET Q q 0 0 0 rg BT 295.03 518.10 Td (the ) Tj ET Q q 0 0 0 rg BT 310.03 518.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 332.25 518.10 Td (year) Tj ET Q q 0 0 0 rg BT 348.90 518.10 Td (. ) Tj ET Q q 0 0 0 rg BT 354.19 518.10 Td ( ) Tj ET Q q 0 0 0 rg BT 356.36 518.10 Td (A) Tj ET Q q 0 0 0 rg BT 362.84 518.10 Td (verage ) Tj ET Q q 0 0 0 rg BT 392.26 518.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 414.49 518.10 Td (price ) Tj ET Q q 0 0 0 rg BT 437.25 518.10 Td (of ) Tj ET Q q 0 0 0 rg BT 448.37 518.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 477.26 518.10 Td (in ) Tj ET Q q 0 0 0 rg BT 487.82 518.10 Td (backlog ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.26 518.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 518.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 506.10 Td (however) Tj ET Q q 0 0 0 rg BT 83.53 506.10 Td (, ) Tj ET Q q 0 0 0 rg BT 87.72 506.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.84 506.10 Td ($388,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.34 506.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.03 506.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.94 506.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 191.96 506.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.96 506.10 Td ( ) Tj ET Q q 0 0 0 rg BT 213.64 506.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.11 506.10 Td ($422,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.61 506.10 Td ( ) Tj ET Q q 0 0 0 rg BT 262.30 506.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.21 506.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 306.22 506.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.22 506.10 Td (. ) Tj ET Q q 0 0 0 rg BT 330.41 506.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.10 506.10 Td (During ) Tj ET Q q 0 0 0 rg BT 362.12 506.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.02 506.10 Td (first ) Tj ET Q q 0 0 0 rg BT 393.82 506.10 Td (half ) Tj ET Q q 0 0 0 rg BT 411.06 506.10 Td (of ) Tj ET Q q 0 0 0 rg BT 421.08 506.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.08 506.10 Td (, ) Tj ET Q q 0 0 0 rg BT 445.26 506.10 Td (we ) Tj ET Q q 0 0 0 rg BT 458.61 506.10 Td (opened ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.18 506.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.16 506.10 Td ( ) Tj ET Q q 0 0 0 rg BT 510.85 506.10 Td (communities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 494.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.46 494.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.97 494.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 132.37 494.10 Td (region ) Tj ET Q q 0 0 0 rg BT 161.10 494.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.70 494.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.67 494.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.21 494.10 Td ( ) Tj ET Q q 0 0 0 rg BT 233.39 494.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.69 494.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 291.56 494.10 Td (first ) Tj ET Q q 0 0 0 rg BT 310.85 494.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.40 494.10 Td (. ) Tj ET Q q 0 0 0 rg BT 332.08 494.10 Td ( ) Tj ET Q q 0 0 0 rg BT 335.26 494.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 354.00 494.10 Td (monthly ) Tj ET Q q 0 0 0 rg BT 390.52 494.10 Td (absorption ) Tj ET Q q 0 0 0 rg BT 435.92 494.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 454.08 494.10 Td (in ) Tj ET Q q 0 0 0 rg BT 465.04 494.10 Td (our ) Tj ET Q q 0 0 0 rg BT 481.56 494.10 Td (Mid-Atlantic ) Tj ET Q q 0 0 0 rg BT 536.95 494.10 Td (region ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 482.10 Td (remained ) Tj ET Q q 0 0 0 rg BT 89.20 482.10 Td (flat ) Tj ET Q q 0 0 0 rg BT 105.03 482.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.74 482.10 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.24 482.10 Td ( ) Tj ET Q q 0 0 0 rg BT 129.74 482.10 Td (per ) Tj ET Q q 0 0 0 rg BT 145.01 482.10 Td (community ) Tj ET Q q 0 0 0 rg BT 193.06 482.10 Td (in ) Tj ET Q q 0 0 0 rg BT 203.34 482.10 Td (both ) Tj ET Q q 0 0 0 rg BT 223.62 482.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.34 482.10 Td (first ) Tj ET Q q 0 0 0 rg BT 256.95 482.10 Td (six ) Tj ET Q q 0 0 0 rg BT 271.12 482.10 Td (months ) Tj ET Q q 0 0 0 rg BT 303.06 482.10 Td (of ) Tj ET Q q 0 0 0 rg BT 313.89 482.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.89 482.10 Td ( ) Tj ET Q q 0 0 0 rg BT 336.39 482.10 Td (and ) Tj ET Q q 0 0 0 rg BT 353.33 482.10 Td (2017.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 460.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 92.74 460.10 Td (Services. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.80 460.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 169.46 460.10 Td (from ) Tj ET Q q 0 0 0 rg BT 191.58 460.10 Td (our ) Tj ET Q q 0 0 0 rg BT 207.58 460.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 248.02 460.10 Td (and ) Tj ET Q q 0 0 0 rg BT 265.14 460.10 Td (title ) Tj ET Q q 0 0 0 rg BT 283.37 460.10 Td (operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.70 460.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.46 460.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.13 460.10 Td ($0.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.02 460.10 Td ( ) Tj ET Q q 0 0 0 rg BT 419.70 460.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.03 460.10 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.36 460.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 442.37 460.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.48 460.10 Td ($26.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.38 460.10 Td ( ) Tj ET Q q 0 0 0 rg BT 521.05 460.10 Td (in ) Tj ET Q q 0 0 0 rg BT 531.51 460.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.40 460.10 Td (first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 448.10 Td (half ) Tj ET Q q 0 0 0 rg BT 67.66 448.10 Td (of ) Tj ET Q q 0 0 0 rg BT 78.60 448.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.60 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 101.22 448.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.61 448.10 Td ($26.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.50 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 168.12 448.10 Td (in ) Tj ET Q q 0 0 0 rg BT 178.51 448.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.34 448.10 Td (first ) Tj ET Q q 0 0 0 rg BT 212.06 448.10 Td (half ) Tj ET Q q 0 0 0 rg BT 230.22 448.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.17 448.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.17 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 263.78 448.10 Td (as ) Tj ET Q q 0 0 0 rg BT 274.72 448.10 Td (a ) Tj ET Q q 0 0 0 rg BT 281.77 448.10 Td (result ) Tj ET Q q 0 0 0 rg BT 306.61 448.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.55 448.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.60 448.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.93 448.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.55 448.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.30 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 375.91 448.10 Td (in ) Tj ET Q q 0 0 0 rg BT 386.31 448.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.14 448.10 Td (number ) Tj ET Q q 0 0 0 rg BT 434.30 448.10 Td (of ) Tj ET Q q 0 0 0 rg BT 445.24 448.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 465.07 448.10 Td (originations, ) Tj ET Q q 0 0 0 rg BT 517.96 448.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.01 448.10 Td (1,565) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 436.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.24 436.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.43 436.10 Td (first ) Tj ET Q q 0 0 0 rg BT 94.50 436.10 Td (half ) Tj ET Q q 0 0 0 rg BT 113.02 436.10 Td (of ) Tj ET Q q 0 0 0 rg BT 124.31 436.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.31 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.28 436.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.02 436.10 Td (1,71) Tj ET Q q 0 0 0 rg BT 175.15 436.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.15 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 183.12 436.10 Td (in ) Tj ET Q q 0 0 0 rg BT 193.86 436.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.05 436.10 Td (first ) Tj ET Q q 0 0 0 rg BT 228.12 436.10 Td (half ) Tj ET Q q 0 0 0 rg BT 246.63 436.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.93 436.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.93 436.10 Td (, ) Tj ET Q q 0 0 0 rg BT 283.40 436.10 Td (and ) Tj ET Q q 0 0 0 rg BT 300.80 436.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.21 436.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.96 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 348.93 436.10 Td (in ) Tj ET Q q 0 0 0 rg BT 359.67 436.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.85 436.10 Td (average ) Tj ET Q q 0 0 0 rg BT 408.90 436.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 429.09 436.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 462.05 436.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.45 436.10 Td ($300,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.95 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 524.92 436.10 Td (in ) Tj ET Q q 0 0 0 rg BT 535.66 436.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.85 436.10 Td (six ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 424.10 Td (months ) Tj ET Q q 0 0 0 rg BT 81.37 424.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 107.67 424.10 Td (June ) Tj ET Q q 0 0 0 rg BT 128.43 424.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 143.35 424.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.35 424.10 Td ( ) Tj ET Q q 0 0 0 rg BT 165.78 424.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.98 424.10 Td ($304,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.48 424.10 Td ( ) Tj ET Q q 0 0 0 rg BT 215.90 424.10 Td (in ) Tj ET Q q 0 0 0 rg BT 226.11 424.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.75 424.10 Td (six ) Tj ET Q q 0 0 0 rg BT 254.84 424.10 Td (months ) Tj ET Q q 0 0 0 rg BT 286.71 424.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 313.02 424.10 Td (June ) Tj ET Q q 0 0 0 rg BT 333.77 424.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 348.69 424.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.69 424.10 Td (. ) Tj ET Q q 0 0 0 rg BT 373.62 424.10 Td ( ) Tj ET Q q 0 0 0 rg BT 375.87 424.10 Td (W) Tj ET Q q 0 0 0 rg BT 384.51 424.10 Td (e ) Tj ET Q q 0 0 0 rg BT 391.37 424.10 Td (also ) Tj ET Q q 0 0 0 rg BT 409.90 424.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 460.63 424.10 Td (an ) Tj ET Q q 0 0 0 rg BT 472.49 424.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 507.67 424.10 Td (in ) Tj ET Q q 0 0 0 rg BT 517.87 424.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.51 424.10 Td (volume ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.81 412.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 82.90 412.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 101.55 412.10 Td (and ) Tj ET Q q 0 0 0 rg BT 117.97 412.10 Td (a ) Tj ET Q q 0 0 0 rg BT 124.39 412.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 143.59 412.10 Td (from ) Tj ET Q q 0 0 0 rg BT 165.01 412.10 Td (the ) Tj ET Q q 0 0 0 rg BT 179.21 412.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 196.74 412.10 Td (of ) Tj ET Q q 0 0 0 rg BT 207.05 412.10 Td (a ) Tj ET Q q 0 0 0 rg BT 213.47 412.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 244.34 412.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.65 412.10 Td (our ) Tj ET Q q 0 0 0 rg BT 269.96 412.10 Td (servicing ) Tj ET Q q 0 0 0 rg BT 308.60 412.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 345.57 412.10 Td (during ) Tj ET Q q 0 0 0 rg BT 373.66 412.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.86 412.10 Td (first ) Tj ET Q q 0 0 0 rg BT 405.95 412.10 Td (half ) Tj ET Q q 0 0 0 rg BT 423.48 412.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.79 412.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.79 412.10 Td (, ) Tj ET Q q 0 0 0 rg BT 458.27 412.10 Td (but ) Tj ET Q q 0 0 0 rg BT 473.03 412.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 509.45 412.10 Td (to ) Tj ET Q q 0 0 0 rg BT 519.21 412.10 Td (experience ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 400.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 74.77 400.10 Td (mar) Tj ET Q q 0 0 0 rg BT 90.13 400.10 Td (gins ) Tj ET Q q 0 0 0 rg BT 109.30 400.10 Td (on ) Tj ET Q q 0 0 0 rg BT 121.80 400.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 145.41 400.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 164.58 400.10 Td (in ) Tj ET Q q 0 0 0 rg BT 174.86 400.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.58 400.10 Td (period ) Tj ET Q q 0 0 0 rg BT 217.63 400.10 Td (than ) Tj ET Q q 0 0 0 rg BT 237.34 400.10 Td (we ) Tj ET Q q 0 0 0 rg BT 251.50 400.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 302.30 400.10 Td (in ) Tj ET Q q 0 0 0 rg BT 312.58 400.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 334.52 400.10 Td (year ) Tj ET Q q 0 0 0 rg BT 354.23 400.10 Td (due ) Tj ET Q q 0 0 0 rg BT 371.17 400.10 Td (to ) Tj ET Q q 0 0 0 rg BT 381.44 400.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 421.70 400.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 471.40 400.10 Td (pressures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 376.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.03 376.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 105.98 376.10 Td (service ) Tj ET Q q 0 0 0 rg BT 137.27 376.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 181.90 376.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 208.75 376.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.94 376.10 Td (first ) Tj ET Q q 0 0 0 rg BT 243.02 376.10 Td (half ) Tj ET Q q 0 0 0 rg BT 261.54 376.10 Td (of ) Tj ET Q q 0 0 0 rg BT 272.84 376.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.84 376.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.82 376.10 Td (with ) Tj ET Q q 0 0 0 rg BT 316.57 376.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.98 376.10 Td ($0.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.87 376.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.85 376.10 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.26 376.10 Td ( ) Tj ET Q q 0 0 0 rg BT 413.24 376.10 Td (in ) Tj ET Q q 0 0 0 rg BT 423.99 376.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 464.72 376.10 Td (income ) Tj ET Q q 0 0 0 rg BT 497.13 376.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 539.53 376.10 Td (to ) Tj ET Q q 0 0 0 rg BT 550.28 376.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 364.10 Td (first ) Tj ET Q q 0 0 0 rg BT 68.11 364.10 Td (half ) Tj ET Q q 0 0 0 rg BT 86.17 364.10 Td (of ) Tj ET Q q 0 0 0 rg BT 97.00 364.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 364.10 Td (, ) Tj ET Q q 0 0 0 rg BT 122.00 364.10 Td (which ) Tj ET Q q 0 0 0 rg BT 148.95 364.10 Td (was ) Tj ET Q q 0 0 0 rg BT 167.00 364.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 206.72 364.10 Td (due ) Tj ET Q q 0 0 0 rg BT 223.67 364.10 Td (to ) Tj ET Q q 0 0 0 rg BT 233.95 364.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.89 364.10 Td ($1.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.78 364.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.29 364.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.04 364.10 Td ( ) Tj ET Q q 0 0 0 rg BT 327.55 364.10 Td (in ) Tj ET Q q 0 0 0 rg BT 337.83 364.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 369.50 364.10 Td (general ) Tj ET Q q 0 0 0 rg BT 401.43 364.10 Td (and ) Tj ET Q q 0 0 0 rg BT 418.37 364.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 478.08 364.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 512.80 364.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 554.72 364.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 352.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 77.27 352.10 Td (first ) Tj ET Q q 0 0 0 rg BT 95.46 352.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.01 352.10 Td (, ) Tj ET Q q 0 0 0 rg BT 115.59 352.10 Td (of) Tj ET Q q 0 0 0 rg BT 123.74 352.10 Td (fset, ) Tj ET Q q 0 0 0 rg BT 142.75 352.10 Td (in ) Tj ET Q q 0 0 0 rg BT 152.61 352.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 172.74 352.10 Td (by ) Tj ET Q q 0 0 0 rg BT 184.82 352.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.11 352.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.87 352.10 Td ( ) Tj ET Q q 0 0 0 rg BT 233.94 352.10 Td (in ) Tj ET Q q 0 0 0 rg BT 243.80 352.10 Td (our ) Tj ET Q q 0 0 0 rg BT 259.21 352.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 292.94 352.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 333.34 352.10 Td (above. ) Tj ET Q q 0 0 0 rg BT 361.80 352.10 Td ( ) Tj ET Q q 0 0 0 rg BT 363.73 352.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.36 352.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.11 352.10 Td ( ) Tj ET Q q 0 0 0 rg BT 416.19 352.10 Td (in ) Tj ET Q q 0 0 0 rg BT 426.05 352.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 457.29 352.10 Td (general ) Tj ET Q q 0 0 0 rg BT 488.79 352.10 Td (and ) Tj ET Q q 0 0 0 rg BT 505.31 352.10 Td (administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 83.38 340.10 Td (was ) Tj ET Q q 0 0 0 rg BT 100.61 340.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 139.50 340.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 186.71 340.10 Td (to ) Tj ET Q q 0 0 0 rg BT 196.16 340.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.27 340.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.03 340.10 Td ( ) Tj ET Q q 0 0 0 rg BT 241.70 340.10 Td (in ) Tj ET Q q 0 0 0 rg BT 251.16 340.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 308.37 340.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 342.25 340.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 381.14 340.10 Td (related ) Tj ET Q q 0 0 0 rg BT 410.02 340.10 Td (to ) Tj ET Q q 0 0 0 rg BT 419.47 340.10 Td (our ) Tj ET Q q 0 0 0 rg BT 434.48 340.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 468.90 340.10 Td (in ) Tj ET Q q 0 0 0 rg BT 478.36 340.10 Td (employee ) Tj ET Q q 0 0 0 rg BT 518.90 340.10 Td (headcount.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.27 318.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 98.37 318.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.37 318.10 Td (, ) Tj ET Q q 0 0 0 rg BT 123.64 318.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 141.41 318.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 181.39 318.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 219.71 318.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 260.24 318.10 Td (services ) Tj ET Q q 0 0 0 rg BT 295.22 318.10 Td (in ) Tj ET Q q 0 0 0 rg BT 305.77 318.10 Td (all ) Tj ET Q q 0 0 0 rg BT 318.53 318.10 Td (of ) Tj ET Q q 0 0 0 rg BT 329.63 318.10 Td (our ) Tj ET Q q 0 0 0 rg BT 345.73 318.10 Td (markets. ) Tj ET Q q 0 0 0 rg BT 382.66 318.10 Td ( ) Tj ET Q q 0 0 0 rg BT 384.82 318.10 Td (Approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.13 318.10 Td (80%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.46 318.10 Td ( ) Tj ET Q q 0 0 0 rg BT 469.23 318.10 Td (of ) Tj ET Q q 0 0 0 rg BT 480.33 318.10 Td (our ) Tj ET Q q 0 0 0 rg BT 496.43 318.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 525.31 318.10 Td (delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.10 Td (during ) Tj ET Q q 0 0 0 rg BT 78.21 306.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.03 306.10 Td (first ) Tj ET Q q 0 0 0 rg BT 111.73 306.10 Td (half ) Tj ET Q q 0 0 0 rg BT 129.88 306.10 Td (of ) Tj ET Q q 0 0 0 rg BT 140.81 306.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.81 306.10 Td ( ) Tj ET Q q 0 0 0 rg BT 163.41 306.10 Td (were ) Tj ET Q q 0 0 0 rg BT 185.44 306.10 Td (financed ) Tj ET Q q 0 0 0 rg BT 222.46 306.10 Td (through ) Tj ET Q q 0 0 0 rg BT 256.17 306.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 273.77 306.10 Td (Financial, ) Tj ET Q q 0 0 0 rg BT 316.08 306.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.90 306.10 Td (same ) Tj ET Q q 0 0 0 rg BT 354.05 306.10 Td (as ) Tj ET Q q 0 0 0 rg BT 364.98 306.10 Td (in ) Tj ET Q q 0 0 0 rg BT 375.36 306.10 Td (2017) Tj ET Q q 0 0 0 rg BT 398.14 306.10 Td (s ) Tj ET Q q 0 0 0 rg BT 404.63 306.10 Td (first ) Tj ET Q q 0 0 0 rg BT 423.34 306.10 Td (half. ) Tj ET Q q 0 0 0 rg BT 443.98 306.10 Td ( ) Tj ET Q q 0 0 0 rg BT 446.58 306.10 Td (Capture ) Tj ET Q q 0 0 0 rg BT 480.84 306.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 498.42 306.10 Td (is ) Tj ET Q q 0 0 0 rg BT 507.69 306.10 Td (influenced ) Tj ET Q q 0 0 0 rg BT 552.50 306.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 89.76 294.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 137.25 294.10 Td (and ) Tj ET Q q 0 0 0 rg BT 154.19 294.10 Td (can ) Tj ET Q q 0 0 0 rg BT 170.56 294.10 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 208.04 294.10 Td (from ) Tj ET Q q 0 0 0 rg BT 229.98 294.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 260.80 294.10 Td (to ) Tj ET Q q 0 0 0 rg BT 271.08 294.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 298.84 294.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 95.28 272.10 Td (Selling, ) Tj ET Q q 0 0 0 rg BT 130.78 272.10 Td (General ) Tj ET Q q 0 0 0 rg BT 168.22 272.10 Td (and ) Tj ET Q q 0 0 0 rg BT 187.28 272.10 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 251.95 272.10 Td (Expense.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.45 272.10 Td ( ) Tj ET Q q 0 0 0 rg BT 293.56 272.10 Td ( ) Tj ET Q q 0 0 0 rg BT 297.67 272.10 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 341.76 272.10 Td (selling, ) Tj ET Q q 0 0 0 rg BT 375.04 272.10 Td (general ) Tj ET Q q 0 0 0 rg BT 408.57 272.10 Td (and ) Tj ET Q q 0 0 0 rg BT 427.11 272.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 488.43 272.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.75 272.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td ($0.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 260.10 Td (, ) Tj ET Q q 0 0 0 rg BT 103.13 260.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.80 260.10 Td ($18.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.69 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.93 260.10 Td (for ) Tj ET Q q 0 0 0 rg BT 194.82 260.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.28 260.10 Td (six ) Tj ET Q q 0 0 0 rg BT 223.18 260.10 Td (months ) Tj ET Q q 0 0 0 rg BT 254.86 260.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 280.98 260.10 Td (June ) Tj ET Q q 0 0 0 rg BT 301.54 260.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 316.28 260.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.28 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 338.51 260.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.53 260.10 Td ($18.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.42 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 404.65 260.10 Td (for ) Tj ET Q q 0 0 0 rg BT 418.55 260.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.00 260.10 Td (six ) Tj ET Q q 0 0 0 rg BT 446.91 260.10 Td (months ) Tj ET Q q 0 0 0 rg BT 478.59 260.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 504.70 260.10 Td (June ) Tj ET Q q 0 0 0 rg BT 525.27 260.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 540.00 260.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.00 260.10 Td (. ) Tj ET Q q 0 0 0 rg BT 565.00 260.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.55 248.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.30 248.10 Td ( ) Tj ET Q q 0 0 0 rg BT 102.80 248.10 Td (was ) Tj ET Q q 0 0 0 rg BT 120.85 248.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 160.56 248.10 Td (due ) Tj ET Q q 0 0 0 rg BT 177.50 248.10 Td (to ) Tj ET Q q 0 0 0 rg BT 187.78 248.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.72 248.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.47 248.10 Td ( ) Tj ET Q q 0 0 0 rg BT 234.97 248.10 Td (in ) Tj ET Q q 0 0 0 rg BT 245.25 248.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 297.17 248.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 319.67 248.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 363.26 248.10 Td (with ) Tj ET Q q 0 0 0 rg BT 383.54 248.10 Td (new ) Tj ET Q q 0 0 0 rg BT 402.70 248.10 Td (information ) Tj ET Q q 0 0 0 rg BT 452.42 248.10 Td (systems.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 226.10 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 99.36 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 117.54 226.10 Td (Integration ) Tj ET Q q 0 0 0 rg BT 166.84 226.10 Td (Costs. ) Tj ET Q q 0 0 0 rg BT 194.19 226.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.81 226.10 Td (During ) Tj ET Q q 0 0 0 rg BT 227.76 226.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.59 226.10 Td (six ) Tj ET Q q 0 0 0 rg BT 256.88 226.10 Td (months ) Tj ET Q q 0 0 0 rg BT 288.95 226.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 315.45 226.10 Td (June ) Tj ET Q q 0 0 0 rg BT 336.40 226.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 351.52 226.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.52 226.10 Td (, ) Tj ET Q q 0 0 0 rg BT 376.64 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 391.47 226.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 432.98 226.10 Td (spent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.71 226.10 Td ($1.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.60 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 508.22 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 518.62 226.10 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.84 214.10 Td (integration ) Tj ET Q q 0 0 0 rg BT 113.06 214.10 Td (related ) Tj ET Q q 0 0 0 rg BT 143.17 214.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 166.07 214.10 Td (related ) Tj ET Q q 0 0 0 rg BT 196.18 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 206.86 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 223.09 214.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 269.88 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 281.11 214.10 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 318.45 214.10 Td (Homes ) Tj ET Q q 0 0 0 rg BT 349.68 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 360.36 214.10 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 394.09 214.10 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 435.32 214.10 Td (on ) Tj ET Q q 0 0 0 rg BT 448.22 214.10 Td (March ) Tj ET Q q 0 0 0 rg BT 477.22 214.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 487.62 214.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 513.03 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 515.72 214.10 Td (These ) Tj ET Q q 0 0 0 rg BT 542.50 214.10 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 202.10 Td (include, ) Tj ET Q q 0 0 0 rg BT 84.28 202.10 Td (but ) Tj ET Q q 0 0 0 rg BT 99.90 202.10 Td (are ) Tj ET Q q 0 0 0 rg BT 114.96 202.10 Td (not ) Tj ET Q q 0 0 0 rg BT 130.58 202.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 161.76 202.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 174.88 202.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 197.16 202.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 216.10 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 233.39 202.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 274.83 202.10 Td (travel ) Tj ET Q q 0 0 0 rg BT 300.44 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 317.73 202.10 Td (communication ) Tj ET Q q 0 0 0 rg BT 382.78 202.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 424.22 202.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 443.18 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 454.35 202.10 Td (appraisals, ) Tj ET Q q 0 0 0 rg BT 499.68 202.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 546.40 202.10 Td (fees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.72 190.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 108.11 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 125.33 190.10 Td (miscellaneous ) Tj ET Q q 0 0 0 rg BT 184.77 190.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 226.15 190.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.32 190.10 Td (As ) Tj ET Q q 0 0 0 rg BT 242.22 190.10 Td (these ) Tj ET Q q 0 0 0 rg BT 265.56 190.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 288.34 190.10 Td (are ) Tj ET Q q 0 0 0 rg BT 303.33 190.10 Td (not ) Tj ET Q q 0 0 0 rg BT 318.90 190.10 Td (eligible ) Tj ET Q q 0 0 0 rg BT 351.67 190.10 Td (for ) Tj ET Q q 0 0 0 rg BT 366.12 190.10 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 422.77 190.10 Td (as ) Tj ET Q q 0 0 0 rg BT 433.88 190.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 460.00 190.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 485.55 190.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 508.33 190.10 Td (under ) Tj ET Q q 0 0 0 rg BT 533.89 190.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 560.01 190.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (such ) Tj ET Q q 0 0 0 rg BT 70.33 178.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 106.72 178.10 Td (are ) Tj ET Q q 0 0 0 rg BT 121.42 178.10 Td (expensed ) Tj ET Q q 0 0 0 rg BT 161.13 178.10 Td (as ) Tj ET Q q 0 0 0 rg BT 171.96 178.10 Td (incurred.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 156.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 83.52 156.10 Td (from ) Tj ET Q q 0 0 0 rg BT 106.43 156.10 Td (Joint ) Tj ET Q q 0 0 0 rg BT 130.46 156.10 Td (V) Tj ET Q q 0 0 0 rg BT 136.02 156.10 Td (enture ) Tj ET Q q 0 0 0 rg BT 165.17 156.10 Td (Arrangements. ) Tj ET Q q 0 0 0 rg BT 229.48 156.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.40 156.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 265.29 156.10 Td (from ) Tj ET Q q 0 0 0 rg BT 287.64 156.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 308.89 156.10 Td (venture ) Tj ET Q q 0 0 0 rg BT 341.79 156.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 398.56 156.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 438.12 156.10 Td (our ) Tj ET Q q 0 0 0 rg BT 454.36 156.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 486.16 156.10 Td (of ) Tj ET Q q 0 0 0 rg BT 497.40 156.10 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 528.63 156.10 Td (earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 144.10 Td (from ) Tj ET Q q 0 0 0 rg BT 72.06 144.10 Td (our ) Tj ET Q q 0 0 0 rg BT 88.52 144.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 109.98 144.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 154.76 144.10 Td (and ) Tj ET Q q 0 0 0 rg BT 172.33 144.10 Td (development ) Tj ET Q q 0 0 0 rg BT 227.10 144.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 278.26 144.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 299.72 144.10 Td (ventures ) Tj ET Q q 0 0 0 rg BT 336.72 144.10 Td (and ) Tj ET Q q 0 0 0 rg BT 354.29 144.10 Td (other ) Tj ET Q q 0 0 0 rg BT 377.96 144.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 408.86 144.10 Td (arrangements. ) Tj ET Q q 0 0 0 rg BT 468.34 144.10 Td ( ) Tj ET Q q 0 0 0 rg BT 471.47 144.10 Td (During ) Tj ET Q q 0 0 0 rg BT 502.92 144.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.26 144.10 Td (six ) Tj ET Q q 0 0 0 rg BT 533.06 144.10 Td (months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 132.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 77.47 132.10 Td (June ) Tj ET Q q 0 0 0 rg BT 99.89 132.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 116.48 132.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.48 132.10 Td ( ) Tj ET Q q 0 0 0 rg BT 140.57 132.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.10 132.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.10 132.10 Td (, ) Tj ET Q q 0 0 0 rg BT 185.69 132.10 Td (the ) Tj ET Q q 0 0 0 rg BT 202.00 132.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 244.98 132.10 Td (earned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.72 132.10 Td ($0.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.61 132.10 Td ( ) Tj ET Q q 0 0 0 rg BT 328.70 132.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.23 132.10 Td ($0.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.12 132.10 Td ( ) Tj ET Q q 0 0 0 rg BT 400.21 132.10 Td (in ) Tj ET Q q 0 0 0 rg BT 412.08 132.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 441.17 132.10 Td (in ) Tj ET Q q 0 0 0 rg BT 453.04 132.10 Td (income ) Tj ET Q q 0 0 0 rg BT 486.56 132.10 Td (from ) Tj ET Q q 0 0 0 rg BT 510.09 132.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 532.52 132.10 Td (venture ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 120.10 Td (arrangements, ) Tj ET Q q 0 0 0 rg BT 108.36 120.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 156.02 120.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 98.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 83.29 98.10 Td (Expense ) Tj ET Q q 0 0 0 rg BT 120.41 98.10 Td (- ) Tj ET Q q 0 0 0 rg BT 125.86 98.10 Td (Net.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.80 98.10 Td ( ) Tj ET Q q 0 0 0 rg BT 144.92 98.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.05 98.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 179.15 98.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 213.48 98.10 Td (for ) Tj ET Q q 0 0 0 rg BT 227.26 98.10 Td (the ) Tj ET Q q 0 0 0 rg BT 241.60 98.10 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.61 98.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.36 98.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.49 98.10 Td ($1.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.38 98.10 Td (, ) Tj ET Q q 0 0 0 rg BT 376.00 98.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.56 98.10 Td ($9.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.45 98.10 Td ( ) Tj ET Q q 0 0 0 rg BT 448.57 98.10 Td (in ) Tj ET Q q 0 0 0 rg BT 458.47 98.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.81 98.10 Td (six ) Tj ET Q q 0 0 0 rg BT 486.60 98.10 Td (months ) Tj ET Q q 0 0 0 rg BT 518.17 98.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 544.17 98.10 Td (June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 86.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 65.10 86.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.10 86.10 Td ( ) Tj ET Q q 0 0 0 rg BT 88.21 86.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.09 86.10 Td ($10.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.98 86.10 Td ( ) Tj ET Q q 0 0 0 rg BT 156.08 86.10 Td (in ) Tj ET Q q 0 0 0 rg BT 166.96 86.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.28 86.10 Td (six ) Tj ET Q q 0 0 0 rg BT 197.06 86.10 Td (months ) Tj ET Q q 0 0 0 rg BT 229.61 86.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 256.59 86.10 Td (June ) Tj ET Q q 0 0 0 rg BT 278.02 86.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 293.62 86.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.62 86.10 Td (. ) Tj ET Q q 0 0 0 rg BT 319.23 86.10 Td ( ) Tj ET Q q 0 0 0 rg BT 322.11 86.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.99 86.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.74 86.10 Td ( ) Tj ET Q q 0 0 0 rg BT 378.84 86.10 Td (was ) Tj ET Q q 0 0 0 rg BT 397.50 86.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 437.81 86.10 Td (the ) Tj ET Q q 0 0 0 rg BT 453.13 86.10 Td (result ) Tj ET Q q 0 0 0 rg BT 478.45 86.10 Td (of ) Tj ET Q q 0 0 0 rg BT 489.89 86.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.43 86.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.18 86.10 Td ( ) Tj ET Q q 0 0 0 rg BT 538.28 86.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.17 86.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 74.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 88.74 74.10 Td (average ) Tj ET Q q 0 0 0 rg BT 122.41 74.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 170.55 74.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.57 74.10 Td ($640.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.46 74.10 Td ( ) Tj ET Q q 0 0 0 rg BT 254.05 74.10 Td (in ) Tj ET Q q 0 0 0 rg BT 264.41 74.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.21 74.10 Td (first ) Tj ET Q q 0 0 0 rg BT 297.91 74.10 Td (half ) Tj ET Q q 0 0 0 rg BT 316.04 74.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.96 74.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.96 74.10 Td ( ) Tj ET Q q 0 0 0 rg BT 349.54 74.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.91 74.10 Td ($772.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.80 74.10 Td ( ) Tj ET Q q 0 0 0 rg BT 421.38 74.10 Td (in ) Tj ET Q q 0 0 0 rg BT 431.75 74.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.55 74.10 Td (first ) Tj ET Q q 0 0 0 rg BT 465.24 74.10 Td (half ) Tj ET Q q 0 0 0 rg BT 483.37 74.10 Td (of ) Tj ET Q q 0 0 0 rg BT 494.29 74.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.29 74.10 Td (, ) Tj ET Q q 0 0 0 rg BT 519.38 74.10 Td (in ) Tj ET Q q 0 0 0 rg BT 529.74 74.10 Td (addition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 62.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.79 62.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.74 62.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.50 62.10 Td ( ) Tj ET Q q 0 0 0 rg BT 107.01 62.10 Td (in ) Tj ET Q q 0 0 0 rg BT 117.30 62.10 Td (our ) Tj ET Q q 0 0 0 rg BT 133.14 62.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 172.31 62.10 Td (average ) Tj ET Q q 0 0 0 rg BT 205.90 62.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 250.08 62.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 267.57 62.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.52 62.10 Td (5.73%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.35 62.10 Td ( ) Tj ET Q q 0 0 0 rg BT 317.87 62.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.16 62.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 356.36 62.10 Td (first ) Tj ET Q q 0 0 0 rg BT 374.98 62.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.53 62.10 Td ( ) Tj ET Q q 0 0 0 rg BT 393.04 62.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.33 62.10 Td (6.20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.16 62.10 Td ( ) Tj ET Q q 0 0 0 rg BT 431.68 62.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.97 62.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 470.17 62.10 Td (first ) Tj ET Q q 0 0 0 rg BT 488.79 62.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.34 62.10 Td (. ) Tj ET Q q 0 0 0 rg BT 509.35 62.10 Td ( ) Tj ET Q q 0 0 0 rg BT 511.68 62.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.74 62.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.49 62.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 50.10 Td (in ) Tj ET Q q 0 0 0 rg BT 58.81 50.10 Td (our ) Tj ET Q q 0 0 0 rg BT 73.68 50.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 111.87 50.10 Td (average ) Tj ET Q q 0 0 0 rg BT 144.49 50.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 191.57 50.10 Td (and ) Tj ET Q q 0 0 0 rg BT 207.55 50.10 Td (our ) Tj ET Q q 0 0 0 rg BT 222.41 50.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 260.60 50.10 Td (average ) Tj ET Q q 0 0 0 rg BT 293.22 50.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 336.41 50.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 352.93 50.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 391.68 50.10 Td (related ) Tj ET Q q 0 0 0 rg BT 420.42 50.10 Td (to ) Tj ET Q q 0 0 0 rg BT 429.73 50.10 Td (the ) Tj ET Q q 0 0 0 rg BT 443.48 50.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 478.89 50.10 Td (of ) Tj ET Q q 0 0 0 rg BT 488.76 50.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.62 50.10 Td ($250.0million) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 93 0 obj <><><>] /Rotate 0 /Contents 94 0 R>> endobj 94 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.16 742.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 101.91 742.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 140.34 742.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 173.22 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 184.43 742.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 207.32 742.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 236.31 742.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 262.52 742.10 Td (during ) Tj ET Q q 0 0 0 rg BT 291.52 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 306.62 742.10 Td (third ) Tj ET Q q 0 0 0 rg BT 328.39 742.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 359.59 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 370.81 742.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 393.69 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 404.35 742.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 440.01 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 450.67 742.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 491.31 742.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 539.75 742.10 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.24 730.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 92.64 730.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 125.60 730.10 Td (\(as ) Tj ET Q q 0 0 0 rg BT 139.67 730.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 172.06 730.10 Td (below\) ) Tj ET Q q 0 0 0 rg BT 202.23 730.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.75 730.10 Td (2018's ) Tj ET Q q 0 0 0 rg BT 258.85 730.10 Td (first ) Tj ET Q q 0 0 0 rg BT 277.37 730.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.91 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.32 730.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 337.15 730.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.34 730.10 Td (2017's ) Tj ET Q q 0 0 0 rg BT 375.44 730.10 Td (first ) Tj ET Q q 0 0 0 rg BT 393.95 730.10 Td (half) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.50 730.10 Td (, ) Tj ET Q q 0 0 0 rg BT 414.41 730.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 450.13 730.10 Td (of) Tj ET Q q 0 0 0 rg BT 458.28 730.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 475.13 730.10 Td (by ) Tj ET Q q 0 0 0 rg BT 487.54 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 502.16 730.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 538.45 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.19 730.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 72.05 718.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 121.82 718.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 150.48 718.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 206.36 718.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 232.24 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 242.58 718.10 Td (September ) Tj ET Q q 0 0 0 rg BT 287.89 718.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 310.45 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 327.44 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 343.32 718.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 365.88 718.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 415.64 718.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 444.30 718.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 500.18 718.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 526.07 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 536.40 718.10 Td (March ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.10 Td (2018.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 684.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 83.18 684.10 Td (T) Tj ET Q q 0 0 0 rg BT 88.37 684.10 Td (axes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.20 684.10 Td ( ) Tj ET Q q 0 0 0 rg BT 111.78 684.10 Td ( ) Tj ET Q q 0 0 0 rg BT 114.36 684.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 132.48 684.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 162.82 684.10 Td (ef) Tj ET Q q 0 0 0 rg BT 170.41 684.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 200.19 684.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 214.98 684.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 232.54 684.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.67 684.10 Td (19.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.50 684.10 Td ( ) Tj ET Q q 0 0 0 rg BT 279.08 684.10 Td (for ) Tj ET Q q 0 0 0 rg BT 293.31 684.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.10 684.10 Td (six ) Tj ET Q q 0 0 0 rg BT 322.35 684.10 Td (months ) Tj ET Q q 0 0 0 rg BT 354.37 684.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 380.83 684.10 Td (June ) Tj ET Q q 0 0 0 rg BT 401.73 684.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 416.81 684.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.81 684.10 Td ( ) Tj ET Q q 0 0 0 rg BT 439.38 684.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.40 684.10 Td (34.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.23 684.10 Td ( ) Tj ET Q q 0 0 0 rg BT 484.80 684.10 Td (for ) Tj ET Q q 0 0 0 rg BT 499.04 684.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.83 684.10 Td (same ) Tj ET Q q 0 0 0 rg BT 536.95 684.10 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 672.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.92 672.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.92 672.10 Td (. ) Tj ET Q q 0 0 0 rg BT 85.06 672.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.51 672.10 Td (The ) Tj ET Q q 0 0 0 rg BT 105.70 672.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 137.21 672.10 Td (in ) Tj ET Q q 0 0 0 rg BT 147.63 672.10 Td (the ) Tj ET Q q 0 0 0 rg BT 162.49 672.10 Td (ef) Tj ET Q q 0 0 0 rg BT 170.08 672.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 199.92 672.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 217.55 672.10 Td (from ) Tj ET Q q 0 0 0 rg BT 239.63 672.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.49 672.10 Td (six ) Tj ET Q q 0 0 0 rg BT 268.80 672.10 Td (months ) Tj ET Q q 0 0 0 rg BT 300.89 672.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 327.41 672.10 Td (June ) Tj ET Q q 0 0 0 rg BT 348.38 672.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 363.52 672.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.52 672.10 Td ( ) Tj ET Q q 0 0 0 rg BT 386.16 672.10 Td (was ) Tj ET Q q 0 0 0 rg BT 404.36 672.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 444.21 672.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 492.39 672.10 Td (to ) Tj ET Q q 0 0 0 rg BT 502.81 672.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.67 672.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 554.72 672.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 660.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.23 660.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 104.50 660.10 Td (income ) Tj ET Q q 0 0 0 rg BT 136.45 660.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 151.18 660.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 168.68 660.10 Td (from ) Tj ET Q q 0 0 0 rg BT 190.63 660.10 Td (35% ) Tj ET Q q 0 0 0 rg BT 211.48 660.10 Td (to ) Tj ET Q q 0 0 0 rg BT 221.77 660.10 Td (21% ) Tj ET Q q 0 0 0 rg BT 242.62 660.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 278.45 660.10 Td (of) Tj ET Q q 0 0 0 rg BT 286.60 660.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 303.55 660.10 Td (by ) Tj ET Q q 0 0 0 rg BT 316.07 660.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.80 660.10 Td (repeal ) Tj ET Q q 0 0 0 rg BT 357.74 660.10 Td (of ) Tj ET Q q 0 0 0 rg BT 368.58 660.10 Td (the ) Tj ET Q q 0 0 0 rg BT 383.31 660.10 Td (domestic ) Tj ET Q q 0 0 0 rg BT 421.93 660.10 Td (production ) Tj ET Q q 0 0 0 rg BT 467.77 660.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 500.28 660.10 Td (deduction, ) Tj ET Q q 0 0 0 rg BT 544.72 660.10 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 648.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.62 648.10 Td (which ) Tj ET Q q 0 0 0 rg BT 87.84 648.10 Td (are ) Tj ET Q q 0 0 0 rg BT 102.84 648.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.84 648.10 Td (result ) Tj ET Q q 0 0 0 rg BT 142.85 648.10 Td (of ) Tj ET Q q 0 0 0 rg BT 153.97 648.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.97 648.10 Td (enactment ) Tj ET Q q 0 0 0 rg BT 212.85 648.10 Td (of ) Tj ET Q q 0 0 0 rg BT 223.97 648.10 Td (the ) Tj ET Q q 0 0 0 rg BT 238.77 648.10 Td (T) Tj ET Q q 0 0 0 rg BT 244.18 648.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 255.79 648.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 273.02 648.10 Td (during ) Tj ET Q q 0 0 0 rg BT 301.92 648.10 Td (the ) Tj ET Q q 0 0 0 rg BT 316.92 648.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 344.15 648.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 375.25 648.10 Td (of ) Tj ET Q q 0 0 0 rg BT 386.37 648.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 411.66 648.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.44 648.10 Td (In ) Tj ET Q q 0 0 0 rg BT 425.56 648.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 463.62 648.10 Td (during ) Tj ET Q q 0 0 0 rg BT 492.52 648.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.53 648.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 538.63 648.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 636.10 Td (June ) Tj ET Q q 0 0 0 rg BT 70.28 636.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 85.24 636.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 110.19 636.10 Td (we ) Tj ET Q q 0 0 0 rg BT 124.30 636.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 161.73 636.10 Td (a ) Tj ET Q q 0 0 0 rg BT 168.63 636.10 Td ($3.0 ) Tj ET Q q 0 0 0 rg BT 188.58 636.10 Td (million ) Tj ET Q q 0 0 0 rg BT 219.92 636.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 234.60 636.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 264.81 636.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 304.48 636.10 Td (related ) Tj ET Q q 0 0 0 rg BT 334.13 636.10 Td (to ) Tj ET Q q 0 0 0 rg BT 344.37 636.10 Td (the ) Tj ET Q q 0 0 0 rg BT 359.04 636.10 Td (retroactive ) Tj ET Q q 0 0 0 rg BT 404.24 636.10 Td (reinstatement ) Tj ET Q q 0 0 0 rg BT 460.56 636.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.34 636.10 Td (ener) Tj ET Q q 0 0 0 rg BT 488.37 636.10 Td (gy ) Tj ET Q q 0 0 0 rg BT 500.82 636.10 Td (ef) Tj ET Q q 0 0 0 rg BT 508.41 636.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 536.41 636.10 Td (homes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 624.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 63.15 624.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 91.24 624.10 Td (to ) Tj ET Q q 0 0 0 rg BT 100.45 624.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 121.89 624.10 Td (for ) Tj ET Q q 0 0 0 rg BT 134.98 624.10 Td (which ) Tj ET Q q 0 0 0 rg BT 160.86 624.10 Td (we ) Tj ET Q q 0 0 0 rg BT 173.95 624.10 Td (obtained ) Tj ET Q q 0 0 0 rg BT 209.82 624.10 Td (certifications ) Tj ET Q q 0 0 0 rg BT 263.45 624.10 Td (in ) Tj ET Q q 0 0 0 rg BT 272.66 624.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 294.10 624.10 Td (\(please ) Tj ET Q q 0 0 0 rg BT 323.85 624.10 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 338.0517578125 622.7669921875 m 368.9248046875 622.7669921875 l s q 0 0 1 rg BT 338.05 624.10 Td (Note ) Tj ET Q q 0 0 1 rg BT 358.92 624.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 368.92 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 370.36 624.10 Td (to ) Tj ET Q q 0 0 0 rg BT 379.57 624.10 Td (our ) Tj ET Q q 0 0 0 rg BT 394.34 624.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 430.75 624.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 474.40 624.10 Td (for ) Tj ET Q q 0 0 0 rg BT 487.49 624.10 Td (more ) Tj ET Q q 0 0 0 rg BT 509.47 624.10 Td (information\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 602.10 Td (Segment ) Tj ET Q q 0 0 0 rg BT 88.26 602.10 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 135.67 602.10 Td ( ) Tj ET Q q 0 0 0 rg BT 138.87 602.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 182.64 602.10 Td (Measures.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 225.15 602.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.35 602.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.55 602.10 Td (This ) Tj ET Q q 0 0 0 rg BT 252.53 602.10 Td (report ) Tj ET Q q 0 0 0 rg BT 279.61 602.10 Td (contains ) Tj ET Q q 0 0 0 rg BT 316.14 602.10 Td (information ) Tj ET Q q 0 0 0 rg BT 366.55 602.10 Td (about ) Tj ET Q q 0 0 0 rg BT 391.97 602.10 Td (our ) Tj ET Q q 0 0 0 rg BT 408.50 602.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 445.03 602.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 479.90 602.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 504.22 602.10 Td (mar) Tj ET Q q 0 0 0 rg BT 519.58 602.10 Td (gin, ) Tj ET Q q 0 0 0 rg BT 538.06 602.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 590.10 Td (constitutes ) Tj ET Q q 0 0 0 rg BT 94.81 590.10 Td (a ) Tj ET Q q 0 0 0 rg BT 101.79 590.10 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 146.97 590.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.51 590.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 187.02 590.10 Td (measure. ) Tj ET Q q 0 0 0 rg BT 225.38 590.10 Td ( ) Tj ET Q q 0 0 0 rg BT 227.91 590.10 Td (Because ) Tj ET Q q 0 0 0 rg BT 263.77 590.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 299.63 590.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 333.83 590.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 357.48 590.10 Td (mar) Tj ET Q q 0 0 0 rg BT 372.85 590.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 388.16 590.10 Td (is ) Tj ET Q q 0 0 0 rg BT 397.37 590.10 Td (not ) Tj ET Q q 0 0 0 rg BT 412.69 590.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 455.75 590.10 Td (in ) Tj ET Q q 0 0 0 rg BT 466.06 590.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 513.56 590.10 Td (with ) Tj ET Q q 0 0 0 rg BT 533.88 590.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 560.00 590.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 578.10 Td (this ) Tj ET Q q 0 0 0 rg BT 65.60 578.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 102.24 578.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 137.21 578.10 Td (may ) Tj ET Q q 0 0 0 rg BT 156.09 578.10 Td (not ) Tj ET Q q 0 0 0 rg BT 170.52 578.10 Td (be ) Tj ET Q q 0 0 0 rg BT 181.62 578.10 Td (completely ) Tj ET Q q 0 0 0 rg BT 227.70 578.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 276.00 578.10 Td (to ) Tj ET Q q 0 0 0 rg BT 285.44 578.10 Td (similarly-titled ) Tj ET Q q 0 0 0 rg BT 346.53 578.10 Td (measures ) Tj ET Q q 0 0 0 rg BT 385.39 578.10 Td (used ) Tj ET Q q 0 0 0 rg BT 405.38 578.10 Td (by ) Tj ET Q q 0 0 0 rg BT 417.03 578.10 Td (other ) Tj ET Q q 0 0 0 rg BT 439.24 578.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 483.66 578.10 Td (in ) Tj ET Q q 0 0 0 rg BT 493.09 578.10 Td (the ) Tj ET Q q 0 0 0 rg BT 506.97 578.10 Td (homebuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 566.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 83.84 566.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 102.35 566.10 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 142.50 566.10 Td (should ) Tj ET Q q 0 0 0 rg BT 170.74 566.10 Td (not ) Tj ET Q q 0 0 0 rg BT 185.08 566.10 Td (be ) Tj ET Q q 0 0 0 rg BT 196.09 566.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 240.97 566.10 Td (in ) Tj ET Q q 0 0 0 rg BT 250.31 566.10 Td (isolation ) Tj ET Q q 0 0 0 rg BT 286.32 566.10 Td (or ) Tj ET Q q 0 0 0 rg BT 296.22 566.10 Td (as ) Tj ET Q q 0 0 0 rg BT 306.12 566.10 Td (an ) Tj ET Q q 0 0 0 rg BT 317.12 566.10 Td (alternative ) Tj ET Q q 0 0 0 rg BT 360.88 566.10 Td (to ) Tj ET Q q 0 0 0 rg BT 370.23 566.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 409.56 566.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 461.65 566.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 488.76 566.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 525.31 566.10 Td (measures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 554.10 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 92.86 554.10 Td (by ) Tj ET Q q 0 0 0 rg BT 104.57 554.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 130.69 554.10 Td (. ) Tj ET Q q 0 0 0 rg BT 134.90 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 136.62 554.10 Td (Rather) Tj ET Q q 0 0 0 rg BT 162.87 554.10 Td (, ) Tj ET Q q 0 0 0 rg BT 167.08 554.10 Td (this ) Tj ET Q q 0 0 0 rg BT 183.24 554.10 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 228.43 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 230.14 554.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 266.84 554.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 301.86 554.10 Td (should ) Tj ET Q q 0 0 0 rg BT 330.25 554.10 Td (be ) Tj ET Q q 0 0 0 rg BT 341.40 554.10 Td (used ) Tj ET Q q 0 0 0 rg BT 361.44 554.10 Td (to ) Tj ET Q q 0 0 0 rg BT 370.93 554.10 Td (supplement ) Tj ET Q q 0 0 0 rg BT 418.75 554.10 Td (our ) Tj ET Q q 0 0 0 rg BT 433.79 554.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 460.65 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 462.36 554.10 Td (results ) Tj ET Q q 0 0 0 rg BT 490.18 554.10 Td (in ) Tj ET Q q 0 0 0 rg BT 499.67 554.10 Td (order ) Tj ET Q q 0 0 0 rg BT 522.48 554.10 Td (to ) Tj ET Q q 0 0 0 rg BT 531.98 554.10 Td (provide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 542.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.44 542.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 86.69 542.10 Td (understanding ) Tj ET Q q 0 0 0 rg BT 145.85 542.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.68 542.10 Td (the ) Tj ET Q q 0 0 0 rg BT 171.39 542.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 201.10 542.10 Td (and ) Tj ET Q q 0 0 0 rg BT 218.04 542.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 244.98 542.10 Td (af) Tj ET Q q 0 0 0 rg BT 252.57 542.10 Td (fecting ) Tj ET Q q 0 0 0 rg BT 282.83 542.10 Td (our ) Tj ET Q q 0 0 0 rg BT 298.66 542.10 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 518.10 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 88.11 518.10 Td (housing ) Tj ET Q q 0 0 0 rg BT 122.28 518.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 145.89 518.10 Td (mar) Tj ET Q q 0 0 0 rg BT 161.26 518.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 176.54 518.10 Td (for ) Tj ET Q q 0 0 0 rg BT 190.70 518.10 Td (our ) Tj ET Q q 0 0 0 rg BT 206.53 518.10 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 244.03 518.10 Td (and ) Tj ET Q q 0 0 0 rg BT 260.96 518.10 Td (Southern ) Tj ET Q q 0 0 0 rg BT 299.57 518.10 Td (regions ) Tj ET Q q 0 0 0 rg BT 331.51 518.10 Td (is ) Tj ET Q q 0 0 0 rg BT 340.68 518.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 383.71 518.10 Td (as ) Tj ET Q q 0 0 0 rg BT 394.54 518.10 Td (follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 494.6 m 377 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 494.6 m 384 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 494.6 m 439 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 494.6 m 449 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 494.6 m 502 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 494.6 m 509 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 494.6 m 562 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 482.6 m 322 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 482.6 m 377 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 482.6 m 384 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 482.6 m 439 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 482.6 m 449 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 482.6 m 502 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 482.6 m 509 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 482.6 m 562 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 482.6 m 322 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 482.6 m 377 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 482.6 m 384 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 482.6 m 439 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 482.6 m 449 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 482.6 m 502 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 482.6 m 509 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 482.6 m 562 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 442.6 m 322 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 442.6 m 377 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 442.6 m 384 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 442.6 m 439 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 442.6 m 449 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 442.6 m 502 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 442.6 m 509 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 442.6 m 562 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 414.6 m 322 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 414.6 m 377 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 414.6 m 384 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 414.6 m 439 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 414.6 m 449 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 414.6 m 502 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 414.6 m 509 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 414.6 m 562 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 328.6 m 322 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 328.6 m 377 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 328.6 m 384 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 328.6 m 439 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 328.6 m 449 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 328.6 m 502 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 328.6 m 509 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 328.6 m 562 328.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 300.6 m 322 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 300.6 m 377 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 300.6 m 384 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 300.6 m 439 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 300.6 m 449 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 300.6 m 502 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 300.6 m 509 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 300.6 m 562 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 280.6 m 322 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 280.6 m 377 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 280.6 m 384 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 280.6 m 439 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 280.6 m 449 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 280.6 m 502 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 280.6 m 509 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 280.6 m 562 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 256.6 m 322 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 256.6 m 377 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 256.6 m 384 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 256.6 m 439 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 256.6 m 449 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 256.6 m 502 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 256.6 m 509 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 256.6 m 562 256.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.35 498.83 Td (Thr) Tj ET Q q 0 0 0 rg BT 341.61 498.83 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.20 498.83 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 486.55 Td (\(Dollars in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.00 486.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.00 486.55 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 486.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.00 486.55 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 470.68 Td (Midwest r) Tj ET Q q 0 0 0 rg BT 86.31 470.68 Td (egion:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 458.55 Td (Housing revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 458.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 342.50 458.68 Td (226,598) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 458.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 458.55 Td (168,305) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 458.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.50 458.68 Td (385,093) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 458.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.75 458.55 Td (314,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 446.55 Td (Housing cost of sales) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 342.50 446.68 Td (187,975) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 446.55 Td (134,535) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.50 446.68 Td (318,884) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.75 446.55 Td (251,368) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 430.55 Td (Housing gross mar) Tj ET Q q 0 0 0 rg BT 111.87 430.55 Td (gin) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.50 430.68 Td (38,623) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 430.55 Td (33,770) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.50 430.68 Td (66,209) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 430.55 Td (62,733) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 418.55 Td (Add: Purchase accounting adjustments ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 183.70 422.18 Td (\(a\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 350.50 418.68 Td (2,961) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 418.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.50 418.68 Td (3,857) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 418.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 402.55 Td (Adjusted housing gross mar) Tj ET Q q 0 0 0 rg BT 140.98 402.55 Td (gin) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 402.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.50 402.68 Td (41,584) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 402.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 402.55 Td (33,770) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 402.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.50 402.68 Td (70,066) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 402.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 402.55 Td (62,733) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 386.55 Td (Housing gross mar) Tj ET Q q 0 0 0 rg BT 111.87 386.55 Td (gin percentage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.50 386.68 Td (17.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.50 386.68 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 386.55 Td (20.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.80 386.55 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.50 386.68 Td (17.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 386.68 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 386.55 Td (20.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 386.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 374.55 Td (Adjusted housing gross mar) Tj ET Q q 0 0 0 rg BT 140.98 374.55 Td (gin percentage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.50 374.68 Td (18.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.50 374.68 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 374.55 Td (20.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.80 374.55 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.50 374.68 Td (18.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 374.68 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 374.55 Td (20.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 374.55 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 356.68 Td (Southern r) Tj ET Q q 0 0 0 rg BT 88.47 356.68 Td (egion:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 344.55 Td (Housing revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 344.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 342.50 344.68 Td (237,582) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 344.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 344.55 Td (178,779) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 344.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.50 344.68 Td (427,733) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 344.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.75 344.55 Td (324,860) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 332.55 Td (Housing cost of sales) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 342.50 332.68 Td (192,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 332.55 Td (153,914) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.50 332.68 Td (347,512) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.75 332.55 Td (273,492) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 316.55 Td (Housing gross mar) Tj ET Q q 0 0 0 rg BT 111.87 316.55 Td (gin) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.50 316.68 Td (44,608) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 316.55 Td (24,865) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.50 316.68 Td (80,221) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 316.55 Td (51,368) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.50 304.55 Td (Add: Stucco-related char) Tj ET Q q 0 0 0 rg BT 137.32 304.55 Td (ges ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 149.98 308.18 Td (\(b\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.50 304.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.80 304.55 Td (8,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.50 304.68 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 304.55 Td (8,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 288.55 Td (Adjusted housing gross mar) Tj ET Q q 0 0 0 rg BT 140.98 288.55 Td (gin) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 288.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.50 288.68 Td (44,608) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 288.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.75 288.55 Td (33,365) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 288.68 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 471.50 288.68 Td (80,221) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 288.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 288.55 Td (59,868) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 272.55 Td (Housing gross mar) Tj ET Q q 0 0 0 rg BT 111.87 272.55 Td (gin percentage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.50 272.68 Td (18.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.50 272.68 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 272.55 Td (13.9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.80 272.55 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.50 272.68 Td (18.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 272.68 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 272.55 Td (15.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 272.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 260.55 Td (Adjusted housing gross mar) Tj ET Q q 0 0 0 rg BT 140.91 260.55 Td (gin percentage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.50 260.68 Td (18.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.50 260.68 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 260.55 Td (18.7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.80 260.55 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.50 260.68 Td (18.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 260.68 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 260.55 Td (18.4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.80 260.55 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 241.50 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 241.50 Td (Represents ) Tj ET Q q 0 0 0 rg BT 104.60 241.50 Td (purchase ) Tj ET Q q 0 0 0 rg BT 135.03 241.50 Td (accounting ) Tj ET Q q 0 0 0 rg BT 172.13 241.50 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 212.35 241.50 Td (from ) Tj ET Q q 0 0 0 rg BT 229.90 241.50 Td (our ) Tj ET Q q 0 0 0 rg BT 242.56 241.50 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 279.67 241.50 Td (of ) Tj ET Q q 0 0 0 rg BT 288.33 241.50 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 317.88 241.50 Td (Homes ) Tj ET Q q 0 0 0 rg BT 342.54 241.50 Td (in ) Tj ET Q q 0 0 0 rg BT 350.77 241.50 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 377.43 241.50 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 410.09 241.50 Td (on ) Tj ET Q q 0 0 0 rg BT 420.09 241.50 Td (March ) Tj ET Q q 0 0 0 rg BT 442.96 241.50 Td (1, ) Tj ET Q q 0 0 0 rg BT 450.96 241.50 Td (2018.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 228.90 Td (\(b\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 228.90 Td (Represents ) Tj ET Q q 0 0 0 rg BT 104.39 228.90 Td (warranty ) Tj ET Q q 0 0 0 rg BT 134.62 228.90 Td (char) Tj ET Q q 0 0 0 rg BT 148.24 228.90 Td (ges ) Tj ET Q q 0 0 0 rg BT 160.69 228.90 Td (for ) Tj ET Q q 0 0 0 rg BT 171.81 228.90 Td (stucco-related ) Tj ET Q q 0 0 0 rg BT 218.47 228.90 Td (repair ) Tj ET Q q 0 0 0 rg BT 238.91 228.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 256.70 228.90 Td (in ) Tj ET Q q 0 0 0 rg BT 264.72 228.90 Td (certain ) Tj ET Q q 0 0 0 rg BT 288.27 228.90 Td (of ) Tj ET Q q 0 0 0 rg BT 296.73 228.90 Td (our ) Tj ET Q q 0 0 0 rg BT 309.18 228.90 Td (Florida ) Tj ET Q q 0 0 0 rg BT 334.09 228.90 Td (communities. ) Tj ET Q q 0 0 0 rg BT 379.21 228.90 Td ( ) Tj ET Q q 0 0 0 rg BT 380.87 228.90 Td (W) Tj ET Q q 0 0 0 rg BT 388.10 228.90 Td (ith ) Tj ET Q q 0 0 0 rg BT 398.34 228.90 Td (respect ) Tj ET Q q 0 0 0 rg BT 422.78 228.90 Td (to ) Tj ET Q q 0 0 0 rg BT 430.80 228.90 Td (this ) Tj ET Q q 0 0 0 rg BT 444.15 228.90 Td (matter) Tj ET Q q 0 0 0 rg BT 464.26 228.90 Td (,during ) Tj ET Q q 0 0 0 rg BT 490.94 228.90 Td (the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 228.90 Td (quarter ) Tj ET Q q 0 0 0 rg BT 526.95 228.90 Td (ended ) Tj ET Q q 0 0 0 rg BT 547.84 228.90 Td (June ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 219.30 Td (30, ) Tj ET Q q 0 0 0 rg BT 79.09 219.30 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 95.09 219.30 Td (, ) Tj ET Q q 0 0 0 rg BT 98.68 219.30 Td (we ) Tj ET Q q 0 0 0 rg BT 109.60 219.30 Td (identified ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 141.85 219.30 Td (41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 149.85 219.30 Td ( ) Tj ET Q q 0 0 0 rg BT 151.44 219.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 185.02 219.30 Td (homes ) Tj ET Q q 0 0 0 rg BT 207.50 219.30 Td (in ) Tj ET Q q 0 0 0 rg BT 215.31 219.30 Td (need ) Tj ET Q q 0 0 0 rg BT 232.00 219.30 Td (of ) Tj ET Q q 0 0 0 rg BT 240.26 219.30 Td (repair ) Tj ET Q q 0 0 0 rg BT 260.50 219.30 Td (and ) Tj ET Q q 0 0 0 rg BT 273.64 219.30 Td (completed ) Tj ET Q q 0 0 0 rg BT 308.56 219.30 Td (repairs ) Tj ET Q q 0 0 0 rg BT 331.91 219.30 Td (on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.50 219.30 Td (56) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.50 219.30 Td ( ) Tj ET Q q 0 0 0 rg BT 351.09 219.30 Td (homes, ) Tj ET Q q 0 0 0 rg BT 375.57 219.30 Td (and, ) Tj ET Q q 0 0 0 rg BT 390.71 219.30 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.08 219.30 Td (June30, ) Tj ET Q q 0 0 0 rg BT 426.33 219.30 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.33 219.30 Td (, ) Tj ET Q q 0 0 0 rg BT 445.92 219.30 Td (wehave ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.94 219.30 Td (186) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.94 219.30 Td ( ) Tj ET Q q 0 0 0 rg BT 487.53 219.30 Td (homes ) Tj ET Q q 0 0 0 rg BT 510.01 219.30 Td (in ) Tj ET Q q 0 0 0 rg BT 517.83 219.30 Td (various ) Tj ET Q q 0 0 0 rg BT 542.97 219.30 Td (stages ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 209.70 Td (of ) Tj ET Q q 0 0 0 rg BT 76.16 209.70 Td (repair) Tj ET Q q 0 0 0 rg BT 94.38 209.70 Td (. ) Tj ET Q q 0 0 0 rg BT 100.38 209.70 Td (Please ) Tj ET Q q 0 0 0 rg BT 122.81 209.70 Td (see ) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 135.02734375 208.63359375000005 m 156.578125 208.63359375000005 l s q 0 0 1 rg BT 135.03 209.70 Td (Note ) Tj ET Q q 0 0 1 rg BT 152.58 209.70 Td (6) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 156.58 209.70 Td ( ) Tj ET Q q 0 0 0 rg BT 158.58 209.70 Td (to ) Tj ET Q q 0 0 0 rg BT 166.80 209.70 Td (our ) Tj ET Q q 0 0 0 rg BT 179.46 209.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 209.45 209.70 Td (statements ) Tj ET Q q 0 0 0 rg BT 245.22 209.70 Td (for ) Tj ET Q q 0 0 0 rg BT 256.55 209.70 Td (further ) Tj ET Q q 0 0 0 rg BT 280.31 209.70 Td (information.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 184.13505859375005 m 237.0390625 184.13505859375005 l s q 0 0 0 rg BT 49.50 185.70 Td (LIQUIDITY) Tj ET Q q 0 0 0 rg BT 103.59 185.70 Td ( ) Tj ET Q q 0 0 0 rg BT 105.54 185.70 Td (AND CAPIT) Tj ET Q q 0 0 0 rg BT 160.07 185.70 Td (AL) Tj ET Q q 0 0 0 rg BT 173.41 185.70 Td ( RESOURCES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 163.70 Td (Overview ) Tj ET Q q 0 0 0 rg BT 93.09 163.70 Td (of ) Tj ET Q q 0 0 0 rg BT 103.92 163.70 Td (Capital ) Tj ET Q q 0 0 0 rg BT 138.09 163.70 Td (Resour) Tj ET Q q 0 0 0 rg BT 168.46 163.70 Td (ces ) Tj ET Q q 0 0 0 rg BT 183.73 163.70 Td (and ) Tj ET Q q 0 0 0 rg BT 202.36 163.70 Td (Liquidity) Tj ET Q q 0 0 0 rg BT 241.82 163.70 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 141.70 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.57 141.70 Td (June30, ) Tj ET Q q 0 0 0 rg BT 96.97 141.70 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.97 141.70 Td (, ) Tj ET Q q 0 0 0 rg BT 121.54 141.70 Td (we ) Tj ET Q q 0 0 0 rg BT 135.27 141.70 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.78 141.70 Td ($67.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.67 141.70 Td ( ) Tj ET Q q 0 0 0 rg BT 207.74 141.70 Td (of ) Tj ET Q q 0 0 0 rg BT 218.14 141.70 Td (cash, ) Tj ET Q q 0 0 0 rg BT 240.48 141.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 260.32 141.70 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 307.93 141.70 Td (and ) Tj ET Q q 0 0 0 rg BT 324.44 141.70 Td (restricted ) Tj ET Q q 0 0 0 rg BT 363.71 141.70 Td (cash, ) Tj ET Q q 0 0 0 rg BT 386.05 141.70 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.90 141.70 Td ($66.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.79 141.70 Td ( ) Tj ET Q q 0 0 0 rg BT 461.86 141.70 Td (of ) Tj ET Q q 0 0 0 rg BT 472.26 141.70 Td (this ) Tj ET Q q 0 0 0 rg BT 488.78 141.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 520.85 141.70 Td (comprised ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 129.70 Td (of ) Tj ET Q q 0 0 0 rg BT 59.70 129.70 Td (unrestricted ) Tj ET Q q 0 0 0 rg BT 108.77 129.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 128.41 129.70 Td (and ) Tj ET Q q 0 0 0 rg BT 144.72 129.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 164.36 129.70 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 214.27 129.70 Td (which ) Tj ET Q q 0 0 0 rg BT 240.58 129.70 Td (represents ) Tj ET Q q 0 0 0 rg BT 282.99 129.70 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.29 129.70 Td ($84.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.19 129.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.06 129.70 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.47 129.70 Td ( ) Tj ET Q q 0 0 0 rg BT 381.34 129.70 Td (in ) Tj ET Q q 0 0 0 rg BT 390.99 129.70 Td (unrestricted ) Tj ET Q q 0 0 0 rg BT 440.06 129.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 459.70 129.70 Td (and ) Tj ET Q q 0 0 0 rg BT 476.01 129.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 495.65 129.70 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 543.06 129.70 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 117.70 Td (December ) Tj ET Q q 0 0 0 rg BT 94.35 117.70 Td (31, ) Tj ET Q q 0 0 0 rg BT 110.62 117.70 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.62 117.70 Td (. ) Tj ET Q q 0 0 0 rg BT 136.88 117.70 Td ( ) Tj ET Q q 0 0 0 rg BT 140.65 117.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 159.96 117.70 Td (principal ) Tj ET Q q 0 0 0 rg BT 199.27 117.70 Td (uses ) Tj ET Q q 0 0 0 rg BT 220.26 117.70 Td (of ) Tj ET Q q 0 0 0 rg BT 232.35 117.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 253.89 117.70 Td (for ) Tj ET Q q 0 0 0 rg BT 269.31 117.70 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.30 117.70 Td (six ) Tj ET Q q 0 0 0 rg BT 300.73 117.70 Td (months ) Tj ET Q q 0 0 0 rg BT 333.95 117.70 Td (ended ) Tj ET Q q 0 0 0 rg BT 361.59 117.70 Td (June ) Tj ET Q q 0 0 0 rg BT 383.68 117.70 Td (30, ) Tj ET Q q 0 0 0 rg BT 399.95 117.70 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.95 117.70 Td ( ) Tj ET Q q 0 0 0 rg BT 423.72 117.70 Td (were ) Tj ET Q q 0 0 0 rg BT 446.91 117.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 494.56 117.70 Td (in ) Tj ET Q q 0 0 0 rg BT 506.10 117.70 Td (land ) Tj ET Q q 0 0 0 rg BT 527.08 117.70 Td (and ) Tj ET Q q 0 0 0 rg BT 545.29 117.70 Td (land ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 105.70 Td (development, ) Tj ET Q q 0 0 0 rg BT 105.02 105.70 Td (the ) Tj ET Q q 0 0 0 rg BT 118.60 105.70 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 163.85 105.70 Td (of ) Tj ET Q q 0 0 0 rg BT 173.54 105.70 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 209.34 105.70 Td (Homes ) Tj ET Q q 0 0 0 rg BT 239.04 105.70 Td (in ) Tj ET Q q 0 0 0 rg BT 248.18 105.70 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 280.38 105.70 Td (Michigan ) Tj ET Q q 0 0 0 rg BT 320.07 105.70 Td (on ) Tj ET Q q 0 0 0 rg BT 331.43 105.70 Td (March ) Tj ET Q q 0 0 0 rg BT 358.90 105.70 Td (1, ) Tj ET Q q 0 0 0 rg BT 367.76 105.70 Td (2018 ) Tj ET Q q 0 0 0 rg BT 389.13 105.70 Td (\(please ) Tj ET Q q 0 0 0 rg BT 418.81 105.70 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 432.947265625 104.36699218750005 m 458.751953125 104.36699218750005 l s q 0 0 1 rg BT 432.95 105.70 Td (Note ) Tj ET Q q 0 0 1 rg BT 453.75 105.70 Td (7) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 458.75 105.70 Td ( ) Tj ET Q q 0 0 0 rg BT 460.12 105.70 Td (to ) Tj ET Q q 0 0 0 rg BT 469.26 105.70 Td (our ) Tj ET Q q 0 0 0 rg BT 483.96 105.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 520.31 105.70 Td (statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 93.70 Td (for ) Tj ET Q q 0 0 0 rg BT 63.76 93.70 Td (more ) Tj ET Q q 0 0 0 rg BT 86.90 93.70 Td (information\), ) Tj ET Q q 0 0 0 rg BT 142.54 93.70 Td (construction ) Tj ET Q q 0 0 0 rg BT 194.57 93.70 Td (of ) Tj ET Q q 0 0 0 rg BT 205.50 93.70 Td (homes, ) Tj ET Q q 0 0 0 rg BT 236.71 93.70 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 277.07 93.70 Td (loan ) Tj ET Q q 0 0 0 rg BT 296.88 93.70 Td (originations, ) Tj ET Q q 0 0 0 rg BT 349.75 93.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 396.23 93.70 Td (in ) Tj ET Q q 0 0 0 rg BT 406.61 93.70 Td (joint ) Tj ET Q q 0 0 0 rg BT 427.54 93.70 Td (ventures, ) Tj ET Q q 0 0 0 rg BT 466.52 93.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 506.88 93.70 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 548.07 93.70 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 81.70 Td (short-term ) Tj ET Q q 0 0 0 rg BT 92.55 81.70 Td (working ) Tj ET Q q 0 0 0 rg BT 127.28 81.70 Td (capital ) Tj ET Q q 0 0 0 rg BT 155.32 81.70 Td (and ) Tj ET Q q 0 0 0 rg BT 171.16 81.70 Td (debt ) Tj ET Q q 0 0 0 rg BT 189.77 81.70 Td (service ) Tj ET Q q 0 0 0 rg BT 219.48 81.70 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 275.58 81.70 Td (including ) Tj ET Q q 0 0 0 rg BT 314.75 81.70 Td (the ) Tj ET Q q 0 0 0 rg BT 328.36 81.70 Td (repayment ) Tj ET Q q 0 0 0 rg BT 371.96 81.70 Td (of ) Tj ET Q q 0 0 0 rg BT 381.68 81.70 Td (amounts ) Tj ET Q q 0 0 0 rg BT 416.96 81.70 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 465.02 81.70 Td (under ) Tj ET Q q 0 0 0 rg BT 489.19 81.70 Td (our ) Tj ET Q q 0 0 0 rg BT 503.91 81.70 Td (credit ) Tj ET Q q 0 0 0 rg BT 528.07 81.70 Td (facilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 69.70 Td (and ) Tj ET Q q 0 0 0 rg BT 66.77 69.70 Td (the ) Tj ET Q q 0 0 0 rg BT 81.82 69.70 Td (repayment ) Tj ET Q q 0 0 0 rg BT 126.86 69.70 Td (of ) Tj ET Q q 0 0 0 rg BT 138.03 69.70 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.62 69.70 Td ($65.9 ) Tj ET Q q 0 0 0 rg BT 223.95 69.70 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.84 69.70 Td ( ) Tj ET Q q 0 0 0 rg BT 255.68 69.70 Td (in ) Tj ET Q q 0 0 0 rg BT 266.29 69.70 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 307.99 69.70 Td (principal ) Tj ET Q q 0 0 0 rg BT 346.37 69.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 379.19 69.70 Td (of ) Tj ET Q q 0 0 0 rg BT 390.36 69.70 Td (our ) Tj ET Q q 0 0 0 rg BT 406.52 69.70 Td (3.0% ) Tj ET Q q 0 0 0 rg BT 430.19 69.70 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 480.23 69.70 Td (Senior ) Tj ET Q q 0 0 0 rg BT 509.18 69.70 Td (Subordinated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 57.70 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.12 57.70 Td (due ) Tj ET Q q 0 0 0 rg BT 91.85 57.70 Td (2018 ) Tj ET Q q 0 0 0 rg BT 114.15 57.70 Td (\(the ) Tj ET Q q 0 0 0 rg BT 131.99 57.70 Td (2018 ) Tj ET Q q 0 0 0 rg BT 158.72 57.70 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 208.22 57.70 Td (Senior ) Tj ET Q q 0 0 0 rg BT 236.62 57.70 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 292.24 57.70 Td (Notes\). ) Tj ET Q q 0 0 0 rg BT 328.13 57.70 Td ( ) Tj ET Q q 0 0 0 rg BT 330.42 57.70 Td (In ) Tj ET Q q 0 0 0 rg BT 341.05 57.70 Td (order ) Tj ET Q q 0 0 0 rg BT 364.44 57.70 Td (to ) Tj ET Q q 0 0 0 rg BT 374.51 57.70 Td (fund ) Tj ET Q q 0 0 0 rg BT 395.13 57.70 Td (these ) Tj ET Q q 0 0 0 rg BT 417.97 57.70 Td (uses ) Tj ET Q q 0 0 0 rg BT 437.48 57.70 Td (of ) Tj ET Q q 0 0 0 rg BT 448.11 57.70 Td (cash, ) Tj ET Q q 0 0 0 rg BT 470.67 57.70 Td (we ) Tj ET Q q 0 0 0 rg BT 484.62 57.70 Td (used ) Tj ET Q q 0 0 0 rg BT 505.24 57.70 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 543.07 57.70 Td (from ) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (home ) Tj ET Q q 0 0 0 rg BT 73.92 740.10 Td (deliveries, ) Tj ET Q q 0 0 0 rg BT 117.49 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.90 740.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 149.65 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.18 740.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 200.14 740.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 223.45 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 240.09 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 254.51 740.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 272.25 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.78 740.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 322.75 740.10 Td (servicing ) Tj ET Q q 0 0 0 rg BT 361.60 740.10 Td (rights, ) Tj ET Q q 0 0 0 rg BT 389.08 740.10 Td (as ) Tj ET Q q 0 0 0 rg BT 399.61 740.10 Td (well ) Tj ET Q q 0 0 0 rg BT 419.03 740.10 Td (as ) Tj ET Q q 0 0 0 rg BT 429.56 740.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 457.85 740.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 477.82 740.10 Td (balances, ) Tj ET Q q 0 0 0 rg BT 516.95 740.10 Td (borrowings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (under ) Tj ET Q q 0 0 0 rg BT 74.77 728.10 Td (our ) Tj ET Q q 0 0 0 rg BT 90.60 728.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 115.86 728.10 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 155.29 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 172.23 728.10 Td (other ) Tj ET Q q 0 0 0 rg BT 195.28 728.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 227.77 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.60 728.10 Td (liquidity) Tj ET Q q 0 0 0 rg BT 271.84 728.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 706.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.26 706.10 Td (are ) Tj ET Q q 0 0 0 rg BT 80.15 706.10 Td (actively ) Tj ET Q q 0 0 0 rg BT 114.48 706.10 Td (acquiring ) Tj ET Q q 0 0 0 rg BT 154.93 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 172.05 706.10 Td (developing ) Tj ET Q q 0 0 0 rg BT 219.17 706.10 Td (lots ) Tj ET Q q 0 0 0 rg BT 236.30 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 246.76 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 262.77 706.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 297.11 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 307.57 706.10 Td (replenish ) Tj ET Q q 0 0 0 rg BT 346.91 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 364.03 706.10 Td (grow ) Tj ET Q q 0 0 0 rg BT 387.27 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 403.28 706.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 416.52 706.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 445.87 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 463.00 706.10 Td (active ) Tj ET Q q 0 0 0 rg BT 489.55 706.10 Td (community ) Tj ET Q q 0 0 0 rg BT 537.79 706.10 Td (count. ) Tj ET Q q 0 0 0 rg BT 565.00 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 694.10 Td (e ) Tj ET Q q 0 0 0 rg BT 64.32 694.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 92.15 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 101.67 694.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 137.85 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 147.37 694.10 Td (expand ) Tj ET Q q 0 0 0 rg BT 177.99 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 193.06 694.10 Td (business ) Tj ET Q q 0 0 0 rg BT 228.70 694.10 Td (based ) Tj ET Q q 0 0 0 rg BT 253.21 694.10 Td (on ) Tj ET Q q 0 0 0 rg BT 264.95 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.91 694.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 324.52 694.10 Td (level ) Tj ET Q q 0 0 0 rg BT 345.69 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 355.77 694.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 389.16 694.10 Td (for ) Tj ET Q q 0 0 0 rg BT 402.57 694.10 Td (new ) Tj ET Q q 0 0 0 rg BT 420.97 694.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 448.82 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 458.34 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 473.41 694.10 Td (markets. ) Tj ET Q q 0 0 0 rg BT 509.31 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 510.67 694.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 560.00 694.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.10 Td (we ) Tj ET Q q 0 0 0 rg BT 64.42 682.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 93.77 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 110.35 682.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 131.38 682.10 Td (outlays ) Tj ET Q q 0 0 0 rg BT 163.52 682.10 Td (for ) Tj ET Q q 0 0 0 rg BT 178.44 682.10 Td (land ) Tj ET Q q 0 0 0 rg BT 198.91 682.10 Td (purchases, ) Tj ET Q q 0 0 0 rg BT 244.10 682.10 Td (land ) Tj ET Q q 0 0 0 rg BT 264.57 682.10 Td (development, ) Tj ET Q q 0 0 0 rg BT 321.98 682.10 Td (home ) Tj ET Q q 0 0 0 rg BT 347.45 682.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 400.14 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 417.84 682.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 458.86 682.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 498.22 682.10 Td (will ) Tj ET Q q 0 0 0 rg BT 517.03 682.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 554.72 682.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (exceed ) Tj ET Q q 0 0 0 rg BT 79.54 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 95.15 670.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 115.20 670.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 156.35 670.10 Td (by ) Tj ET Q q 0 0 0 rg BT 168.63 670.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 212.57 670.10 Td (during ) Tj ET Q q 0 0 0 rg BT 240.96 670.10 Td (some ) Tj ET Q q 0 0 0 rg BT 264.35 670.10 Td (monthly ) Tj ET Q q 0 0 0 rg BT 299.97 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 316.69 670.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 355.06 670.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 386.79 670.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.85 670.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.85 670.10 Td (, ) Tj ET Q q 0 0 0 rg BT 421.63 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 438.35 670.10 Td (we ) Tj ET Q q 0 0 0 rg BT 452.29 670.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 480.67 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 490.73 670.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 527.45 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 537.51 670.10 Td (utilize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.33 658.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 92.83 658.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 125.88 658.10 Td (\(as ) Tj ET Q q 0 0 0 rg BT 140.04 658.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 172.52 658.10 Td (below\) ) Tj ET Q q 0 0 0 rg BT 202.79 658.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.07 658.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.07 658.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 636.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.79 636.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.97 636.10 Td (first ) Tj ET Q q 0 0 0 rg BT 115.04 636.10 Td (half ) Tj ET Q q 0 0 0 rg BT 133.55 636.10 Td (of ) Tj ET Q q 0 0 0 rg BT 144.84 636.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.84 636.10 Td (, ) Tj ET Q q 0 0 0 rg BT 170.30 636.10 Td (we ) Tj ET Q q 0 0 0 rg BT 184.92 636.10 Td (delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.09 636.10 Td (2,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.59 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 250.55 636.10 Td (homes, ) Tj ET Q q 0 0 0 rg BT 282.12 636.10 Td (started ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.73 636.10 Td (3,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.23 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 337.20 636.10 Td (homes, ) Tj ET Q q 0 0 0 rg BT 368.77 636.10 Td (and ) Tj ET Q q 0 0 0 rg BT 386.17 636.10 Td (spent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.23 636.10 Td ($175.3 ) Tj ET Q q 0 0 0 rg BT 440.70 636.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.59 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.55 636.10 Td (on ) Tj ET Q q 0 0 0 rg BT 485.51 636.10 Td (land ) Tj ET Q q 0 0 0 rg BT 505.69 636.10 Td (purchases ) Tj ET Q q 0 0 0 rg BT 548.08 636.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 624.10 Td ($88.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 105.68 624.10 Td (on ) Tj ET Q q 0 0 0 rg BT 117.96 624.10 Td (land ) Tj ET Q q 0 0 0 rg BT 137.47 624.10 Td (development. ) Tj ET Q q 0 0 0 rg BT 193.91 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 196.19 624.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 222.92 624.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 245.20 624.10 Td (our ) Tj ET Q q 0 0 0 rg BT 260.82 624.10 Td (business ) Tj ET Q q 0 0 0 rg BT 297.00 624.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 329.28 624.10 Td (levels, ) Tj ET Q q 0 0 0 rg BT 357.39 624.10 Td (market ) Tj ET Q q 0 0 0 rg BT 387.44 624.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 433.89 624.10 Td (and ) Tj ET Q q 0 0 0 rg BT 450.61 624.10 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 505.67 624.10 Td (for ) Tj ET Q q 0 0 0 rg BT 519.62 624.10 Td (land ) Tj ET Q q 0 0 0 rg BT 539.12 624.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.19 624.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 612.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 87.66 612.10 Td (we ) Tj ET Q q 0 0 0 rg BT 103.33 612.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 143.43 612.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 180.75 612.10 Td (that ) Tj ET Q q 0 0 0 rg BT 199.76 612.10 Td (we ) Tj ET Q q 0 0 0 rg BT 215.42 612.10 Td (will ) Tj ET Q q 0 0 0 rg BT 234.99 612.10 Td (spend ) Tj ET Q q 0 0 0 rg BT 262.32 612.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.09 612.10 Td ($575 ) Tj ET Q q 0 0 0 rg BT 348.09 612.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.99 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 380.99 612.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.78 612.10 Td ($625million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.17 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 448.17 612.10 Td (on ) Tj ET Q q 0 0 0 rg BT 462.18 612.10 Td (land ) Tj ET Q q 0 0 0 rg BT 483.40 612.10 Td (purchases ) Tj ET Q q 0 0 0 rg BT 526.84 612.10 Td (and ) Tj ET Q q 0 0 0 rg BT 545.28 612.10 Td (land ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 600.10 Td (development ) Tj ET Q q 0 0 0 rg BT 103.34 600.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.64 600.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.64 600.10 Td (, ) Tj ET Q q 0 0 0 rg BT 156.34 600.10 Td (including ) Tj ET Q q 0 0 0 rg BT 196.30 600.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.71 600.10 Td ($263.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.60 600.10 Td ( ) Tj ET Q q 0 0 0 rg BT 271.79 600.10 Td (spent ) Tj ET Q q 0 0 0 rg BT 295.10 600.10 Td (during ) Tj ET Q q 0 0 0 rg BT 323.40 600.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.81 600.10 Td (first ) Tj ET Q q 0 0 0 rg BT 356.11 600.10 Td (six ) Tj ET Q q 0 0 0 rg BT 369.97 600.10 Td (months ) Tj ET Q q 0 0 0 rg BT 401.61 600.10 Td (of ) Tj ET Q q 0 0 0 rg BT 412.13 600.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.13 600.10 Td ( ) Tj ET Q q 0 0 0 rg BT 434.32 600.10 Td (and ) Tj ET Q q 0 0 0 rg BT 450.96 600.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 492.58 600.10 Td (our ) Tj ET Q q 0 0 0 rg BT 508.10 600.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 554.18 600.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 588.10 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 86.43 588.10 Td (Homes ) Tj ET Q q 0 0 0 rg BT 117.26 588.10 Td (in ) Tj ET Q q 0 0 0 rg BT 127.54 588.10 Td (March ) Tj ET Q q 0 0 0 rg BT 156.14 588.10 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 566.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 566.10 Td (e ) Tj ET Q q 0 0 0 rg BT 64.56 566.10 Td (also ) Tj ET Q q 0 0 0 rg BT 82.64 566.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 119.06 566.10 Td (to ) Tj ET Q q 0 0 0 rg BT 128.82 566.10 Td (enter ) Tj ET Q q 0 0 0 rg BT 150.78 566.10 Td (into ) Tj ET Q q 0 0 0 rg BT 168.32 566.10 Td (land ) Tj ET Q q 0 0 0 rg BT 187.52 566.10 Td (option ) Tj ET Q q 0 0 0 rg BT 215.05 566.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 265.06 566.10 Td (taking ) Tj ET Q q 0 0 0 rg BT 292.04 566.10 Td (into ) Tj ET Q q 0 0 0 rg BT 309.58 566.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 365.43 566.10 Td (current ) Tj ET Q q 0 0 0 rg BT 395.72 566.10 Td (and ) Tj ET Q q 0 0 0 rg BT 412.14 566.10 Td (projected ) Tj ET Q q 0 0 0 rg BT 451.32 566.10 Td (market ) Tj ET Q q 0 0 0 rg BT 481.07 566.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 527.21 566.10 Td (to ) Tj ET Q q 0 0 0 rg BT 536.97 566.10 Td (secure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 554.10 Td (land ) Tj ET Q q 0 0 0 rg BT 69.24 554.10 Td (for ) Tj ET Q q 0 0 0 rg BT 83.43 554.10 Td (the ) Tj ET Q q 0 0 0 rg BT 98.17 554.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 150.13 554.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.99 554.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 189.62 554.10 Td (in ) Tj ET Q q 0 0 0 rg BT 199.93 554.10 Td (the ) Tj ET Q q 0 0 0 rg BT 214.67 554.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 243.57 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 246.10 554.10 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 283.62 554.10 Td (to ) Tj ET Q q 0 0 0 rg BT 293.93 554.10 Td (such ) Tj ET Q q 0 0 0 rg BT 314.78 554.10 Td (land ) Tj ET Q q 0 0 0 rg BT 334.53 554.10 Td (option ) Tj ET Q q 0 0 0 rg BT 362.61 554.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 413.17 554.10 Td (as ) Tj ET Q q 0 0 0 rg BT 424.02 554.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.88 554.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 470.73 554.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.73 554.10 Td (, ) Tj ET Q q 0 0 0 rg BT 495.76 554.10 Td (we ) Tj ET Q q 0 0 0 rg BT 509.95 554.10 Td (had ) Tj ET Q q 0 0 0 rg BT 526.91 554.10 Td (a ) Tj ET Q q 0 0 0 rg BT 533.87 554.10 Td (total ) Tj ET Q q 0 0 0 rg BT 554.17 554.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 542.10 Td (15,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 542.10 Td ( ) Tj ET Q q 0 0 0 rg BT 79.15 542.10 Td (lots ) Tj ET Q q 0 0 0 rg BT 95.74 542.10 Td (under ) Tj ET Q q 0 0 0 rg BT 120.66 542.10 Td (contract, ) Tj ET Q q 0 0 0 rg BT 157.51 542.10 Td (with ) Tj ET Q q 0 0 0 rg BT 177.43 542.10 Td (an ) Tj ET Q q 0 0 0 rg BT 189.02 542.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 230.03 542.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 267.71 542.10 Td (price ) Tj ET Q q 0 0 0 rg BT 289.85 542.10 Td (of ) Tj ET Q q 0 0 0 rg BT 300.33 542.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.23 542.10 Td ($640.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.12 542.10 Td ( ) Tj ET Q q 0 0 0 rg BT 421.27 542.10 Td (to ) Tj ET Q q 0 0 0 rg BT 431.20 542.10 Td (be ) Tj ET Q q 0 0 0 rg BT 442.78 542.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 479.35 542.10 Td (during ) Tj ET Q q 0 0 0 rg BT 507.61 542.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.97 542.10 Td (remainder ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 530.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.33 530.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.33 530.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.83 530.10 Td (through ) Tj ET Q q 0 0 0 rg BT 116.44 530.10 Td (2028.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.10 Td (Land ) Tj ET Q q 0 0 0 rg BT 71.82 508.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 121.36 508.10 Td (are ) Tj ET Q q 0 0 0 rg BT 135.34 508.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 165.44 508.10 Td (to ) Tj ET Q q 0 0 0 rg BT 175.00 508.10 Td (a ) Tj ET Q q 0 0 0 rg BT 181.21 508.10 Td (number ) Tj ET Q q 0 0 0 rg BT 213.53 508.10 Td (of ) Tj ET Q q 0 0 0 rg BT 223.64 508.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 255.12 508.10 Td (including ) Tj ET Q q 0 0 0 rg BT 294.67 508.10 Td (our ) Tj ET Q q 0 0 0 rg BT 309.77 508.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 346.53 508.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 386.07 508.10 Td (and ) Tj ET Q q 0 0 0 rg BT 402.29 508.10 Td (market ) Tj ET Q q 0 0 0 rg BT 431.83 508.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 477.77 508.10 Td (as ) Tj ET Q q 0 0 0 rg BT 487.87 508.10 Td (well ) Tj ET Q q 0 0 0 rg BT 506.86 508.10 Td (as ) Tj ET Q q 0 0 0 rg BT 516.97 508.10 Td (satisfaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.02 496.10 Td (various ) Tj ET Q q 0 0 0 rg BT 91.65 496.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 135.51 496.10 Td (related ) Tj ET Q q 0 0 0 rg BT 164.90 496.10 Td (to ) Tj ET Q q 0 0 0 rg BT 174.87 496.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 208.16 496.10 Td (properties. ) Tj ET Q q 0 0 0 rg BT 252.83 496.10 Td ( ) Tj ET Q q 0 0 0 rg BT 254.87 496.10 Td (W) Tj ET Q q 0 0 0 rg BT 263.50 496.10 Td (e ) Tj ET Q q 0 0 0 rg BT 270.13 496.10 Td (will ) Tj ET Q q 0 0 0 rg BT 287.88 496.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 324.51 496.10 Td (to ) Tj ET Q q 0 0 0 rg BT 334.48 496.10 Td (monitor ) Tj ET Q q 0 0 0 rg BT 368.33 496.10 Td (market ) Tj ET Q q 0 0 0 rg BT 398.29 496.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 442.14 496.10 Td (and ) Tj ET Q q 0 0 0 rg BT 458.77 496.10 Td (our ) Tj ET Q q 0 0 0 rg BT 474.30 496.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 509.27 496.10 Td (pace ) Tj ET Q q 0 0 0 rg BT 529.77 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 540.29 496.10 Td (home ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 484.10 Td (deliveries ) Tj ET Q q 0 0 0 rg BT 90.21 484.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.49 484.10 Td (adjust ) Tj ET Q q 0 0 0 rg BT 132.22 484.10 Td (our ) Tj ET Q q 0 0 0 rg BT 147.39 484.10 Td (land ) Tj ET Q q 0 0 0 rg BT 166.45 484.10 Td (spending ) Tj ET Q q 0 0 0 rg BT 204.40 484.10 Td (accordingly) Tj ET Q q 0 0 0 rg BT 250.95 484.10 Td (. ) Tj ET Q q 0 0 0 rg BT 255.29 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 257.00 484.10 Td (The ) Tj ET Q q 0 0 0 rg BT 274.39 484.10 Td (planned ) Tj ET Q q 0 0 0 rg BT 307.88 484.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 342.48 484.10 Td (in ) Tj ET Q q 0 0 0 rg BT 352.10 484.10 Td (our ) Tj ET Q q 0 0 0 rg BT 367.27 484.10 Td (land ) Tj ET Q q 0 0 0 rg BT 386.33 484.10 Td (spending ) Tj ET Q q 0 0 0 rg BT 424.27 484.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.89 484.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.89 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 455.73 484.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 497.00 484.10 Td (to ) Tj ET Q q 0 0 0 rg BT 506.62 484.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 528.46 484.10 Td (is ) Tj ET Q q 0 0 0 rg BT 536.97 484.10 Td (driven ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 472.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 89.21 472.10 Td (by ) Tj ET Q q 0 0 0 rg BT 101.71 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 116.43 472.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 147.26 472.10 Td (of ) Tj ET Q q 0 0 0 rg BT 158.09 472.10 Td (our ) Tj ET Q q 0 0 0 rg BT 173.92 472.10 Td (business.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 450.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 93.79 450.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 117.53 450.10 Td (Flow ) Tj ET Q q 0 0 0 rg BT 140.87 450.10 Td (Activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.64 450.10 Td (. ) Tj ET Q q 0 0 0 rg BT 183.76 450.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.38 450.10 Td (During ) Tj ET Q q 0 0 0 rg BT 217.32 450.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.16 450.10 Td (six-month ) Tj ET Q q 0 0 0 rg BT 275.33 450.10 Td (period ) Tj ET Q q 0 0 0 rg BT 303.50 450.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 329.99 450.10 Td (June ) Tj ET Q q 0 0 0 rg BT 350.94 450.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 366.05 450.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.05 450.10 Td (, ) Tj ET Q q 0 0 0 rg BT 391.17 450.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.45 450.10 Td (used) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.78 450.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.40 450.10 Td ($19.7 ) Tj ET Q q 0 0 0 rg BT 451.51 450.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.41 450.10 Td ( ) Tj ET Q q 0 0 0 rg BT 483.02 450.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.97 450.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 514.36 450.10 Td (in ) Tj ET Q q 0 0 0 rg BT 524.75 450.10 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 90.13 438.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 131.58 438.10 Td (to ) Tj ET Q q 0 0 0 rg BT 141.39 438.10 Td (using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.09 438.10 Td ($39.3 ) Tj ET Q q 0 0 0 rg BT 189.62 438.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.51 438.10 Td ( ) Tj ET Q q 0 0 0 rg BT 220.54 438.10 Td (of ) Tj ET Q q 0 0 0 rg BT 230.90 438.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 250.70 438.10 Td (for ) Tj ET Q q 0 0 0 rg BT 264.39 438.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 304.19 438.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 342.32 438.10 Td (during ) Tj ET Q q 0 0 0 rg BT 370.46 438.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.70 438.10 Td (first ) Tj ET Q q 0 0 0 rg BT 402.84 438.10 Td (half ) Tj ET Q q 0 0 0 rg BT 420.42 438.10 Td (of ) Tj ET Q q 0 0 0 rg BT 430.78 438.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.78 438.10 Td (. ) Tj ET Q q 0 0 0 rg BT 455.31 438.10 Td ( ) Tj ET Q q 0 0 0 rg BT 457.19 438.10 Td (The ) Tj ET Q q 0 0 0 rg BT 474.77 438.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.57 438.10 Td (used) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.90 438.10 Td ( ) Tj ET Q q 0 0 0 rg BT 514.93 438.10 Td (in ) Tj ET Q q 0 0 0 rg BT 524.74 438.10 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 89.16 426.10 Td (in ) Tj ET Q q 0 0 0 rg BT 100.50 426.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.28 426.10 Td (first ) Tj ET Q q 0 0 0 rg BT 135.96 426.10 Td (half ) Tj ET Q q 0 0 0 rg BT 155.07 426.10 Td (of ) Tj ET Q q 0 0 0 rg BT 166.96 426.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.96 426.10 Td ( ) Tj ET Q q 0 0 0 rg BT 190.52 426.10 Td (was ) Tj ET Q q 0 0 0 rg BT 209.64 426.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 250.41 426.10 Td (a ) Tj ET Q q 0 0 0 rg BT 258.42 426.10 Td (result ) Tj ET Q q 0 0 0 rg BT 284.20 426.10 Td (of ) Tj ET Q q 0 0 0 rg BT 296.09 426.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.09 426.10 Td ($137.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.98 426.10 Td ( ) Tj ET Q q 0 0 0 rg BT 366.55 426.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 402.86 426.10 Td (in ) Tj ET Q q 0 0 0 rg BT 414.21 426.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 456.09 426.10 Td (and ) Tj ET Q q 0 0 0 rg BT 474.10 426.10 Td (a ) Tj ET Q q 0 0 0 rg BT 482.10 426.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 520.08 426.10 Td (in ) Tj ET Q q 0 0 0 rg BT 531.42 426.10 Td (accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 107.17 414.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.63 414.10 Td ($15.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.53 414.10 Td (, ) Tj ET Q q 0 0 0 rg BT 176.16 414.10 Td (of) Tj ET Q q 0 0 0 rg BT 184.31 414.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 200.88 414.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 236.33 414.10 Td (by ) Tj ET Q q 0 0 0 rg BT 248.46 414.10 Td (net ) Tj ET Q q 0 0 0 rg BT 262.81 414.10 Td (income ) Tj ET Q q 0 0 0 rg BT 294.37 414.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.83 414.10 Td ($46.0 ) Tj ET Q q 0 0 0 rg BT 329.47 414.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.36 414.10 Td (, ) Tj ET Q q 0 0 0 rg BT 362.99 414.10 Td (along ) Tj ET Q q 0 0 0 rg BT 387.34 414.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.25 414.10 Td ($64.9 ) Tj ET Q q 0 0 0 rg BT 431.88 414.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.77 414.10 Td ( ) Tj ET Q q 0 0 0 rg BT 462.90 414.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.36 414.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 511.03 414.10 Td (from ) Tj ET Q q 0 0 0 rg BT 532.60 414.10 Td (the ) Tj ET Q q 0 0 0 rg BT 546.95 414.10 Td (sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.97 402.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 99.87 402.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 123.12 402.10 Td (net ) Tj ET Q q 0 0 0 rg BT 137.48 402.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.95 402.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 187.85 402.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 207.21 402.10 Td (originations, ) Tj ET Q q 0 0 0 rg BT 259.62 402.10 Td (an ) Tj ET Q q 0 0 0 rg BT 271.20 402.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 306.10 402.10 Td (in ) Tj ET Q q 0 0 0 rg BT 316.02 402.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 353.14 402.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 386.37 402.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.84 402.10 Td ($13.7million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.74 402.10 Td ( ) Tj ET Q q 0 0 0 rg BT 452.88 402.10 Td (and ) Tj ET Q q 0 0 0 rg BT 469.46 402.10 Td (an ) Tj ET Q q 0 0 0 rg BT 481.03 402.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 515.93 402.10 Td (in ) Tj ET Q q 0 0 0 rg BT 525.85 402.10 Td (customer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 85.34 390.10 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.95 390.10 Td ($1) Tj ET Q q 0 0 0 rg BT 128.58 390.10 Td (1.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.47 390.10 Td (. ) Tj ET Q q 0 0 0 rg BT 178.03 390.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.87 390.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.47 390.10 Td ($39.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.36 390.10 Td ( ) Tj ET Q q 0 0 0 rg BT 256.42 390.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.81 390.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.64 390.10 Td (used) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.97 390.10 Td ( ) Tj ET Q q 0 0 0 rg BT 310.03 390.10 Td (in ) Tj ET Q q 0 0 0 rg BT 320.87 390.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 361.69 390.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 400.85 390.10 Td (in ) Tj ET Q q 0 0 0 rg BT 411.68 390.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.96 390.10 Td (first ) Tj ET Q q 0 0 0 rg BT 446.13 390.10 Td (half ) Tj ET Q q 0 0 0 rg BT 464.73 390.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.12 390.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.12 390.10 Td ( ) Tj ET Q q 0 0 0 rg BT 499.18 390.10 Td (was ) Tj ET Q q 0 0 0 rg BT 517.79 390.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 558.06 390.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.10 Td (result ) Tj ET Q q 0 0 0 rg BT 74.33 378.10 Td (of ) Tj ET Q q 0 0 0 rg BT 85.28 378.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.34 378.10 Td ($146.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.23 378.10 Td ( ) Tj ET Q q 0 0 0 rg BT 153.85 378.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 189.22 378.10 Td (in ) Tj ET Q q 0 0 0 rg BT 199.61 378.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 240.55 378.10 Td (and ) Tj ET Q q 0 0 0 rg BT 257.61 378.10 Td (a ) Tj ET Q q 0 0 0 rg BT 264.67 378.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 301.70 378.10 Td (in ) Tj ET Q q 0 0 0 rg BT 312.09 378.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 345.79 378.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 403.95 378.10 Td (of ) Tj ET Q q 0 0 0 rg BT 414.90 378.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.52 378.10 Td ($13.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.41 378.10 Td (, ) Tj ET Q q 0 0 0 rg BT 476.53 378.10 Td (of) Tj ET Q q 0 0 0 rg BT 484.68 378.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 501.73 378.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 537.67 378.10 Td (by ) Tj ET Q q 0 0 0 rg BT 550.29 378.10 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.10 Td (income ) Tj ET Q q 0 0 0 rg BT 82.90 366.10 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.42 366.10 Td ($33.9 ) Tj ET Q q 0 0 0 rg BT 143.89 366.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.78 366.10 Td (, ) Tj ET Q q 0 0 0 rg BT 179.25 366.10 Td (along ) Tj ET Q q 0 0 0 rg BT 205.44 366.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.18 366.10 Td ($66.4million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.08 366.10 Td ( ) Tj ET Q q 0 0 0 rg BT 285.04 366.10 Td (of ) Tj ET Q q 0 0 0 rg BT 297.34 366.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 336.85 366.10 Td (from ) Tj ET Q q 0 0 0 rg BT 360.26 366.10 Td (the ) Tj ET Q q 0 0 0 rg BT 376.44 366.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 395.96 366.10 Td (of ) Tj ET Q q 0 0 0 rg BT 408.26 366.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 449.99 366.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 475.07 366.10 Td (net ) Tj ET Q q 0 0 0 rg BT 491.25 366.10 Td (of ) Tj ET Q q 0 0 0 rg BT 503.55 366.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 545.28 366.10 Td (loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.10 Td (originations ) Tj ET Q q 0 0 0 rg BT 99.77 354.10 Td (and ) Tj ET Q q 0 0 0 rg BT 116.71 354.10 Td (an ) Tj ET Q q 0 0 0 rg BT 128.65 354.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 163.90 354.10 Td (in ) Tj ET Q q 0 0 0 rg BT 174.18 354.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 211.67 354.10 Td (payable, ) Tj ET Q q 0 0 0 rg BT 247.76 354.10 Td (other ) Tj ET Q q 0 0 0 rg BT 270.81 354.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 296.64 354.10 Td (and ) Tj ET Q q 0 0 0 rg BT 313.58 354.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 352.73 354.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 388.01 354.10 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.06 354.10 Td ($19.3million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.95 354.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 330.10 Td (Investing ) Tj ET Q q 0 0 0 rg BT 90.58 330.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 114.45 330.10 Td (Flow ) Tj ET Q q 0 0 0 rg BT 137.90 330.10 Td (Activities. ) Tj ET Q q 0 0 0 rg BT 180.91 330.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.65 330.10 Td (During ) Tj ET Q q 0 0 0 rg BT 214.72 330.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.68 330.10 Td (first ) Tj ET Q q 0 0 0 rg BT 248.53 330.10 Td (half ) Tj ET Q q 0 0 0 rg BT 266.82 330.10 Td (of ) Tj ET Q q 0 0 0 rg BT 277.89 330.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.89 330.10 Td (, ) Tj ET Q q 0 0 0 rg BT 303.13 330.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.54 330.10 Td (used) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.87 330.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.61 330.10 Td ($104.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.50 330.10 Td ( ) Tj ET Q q 0 0 0 rg BT 400.24 330.10 Td (of ) Tj ET Q q 0 0 0 rg BT 411.31 330.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 431.82 330.10 Td (in ) Tj ET Q q 0 0 0 rg BT 442.34 330.10 Td (investing ) Tj ET Q q 0 0 0 rg BT 481.75 330.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 523.09 330.10 Td (compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.12 318.10 Td (generating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.17 318.10 Td ($1.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.06 318.10 Td ( ) Tj ET Q q 0 0 0 rg BT 156.90 318.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.08 318.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 188.69 318.10 Td (in ) Tj ET Q q 0 0 0 rg BT 199.31 318.10 Td (investing ) Tj ET Q q 0 0 0 rg BT 238.82 318.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 277.76 318.10 Td (during ) Tj ET Q q 0 0 0 rg BT 306.71 318.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.77 318.10 Td (first ) Tj ET Q q 0 0 0 rg BT 340.72 318.10 Td (half ) Tj ET Q q 0 0 0 rg BT 359.11 318.10 Td (of ) Tj ET Q q 0 0 0 rg BT 370.29 318.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.29 318.10 Td (. ) Tj ET Q q 0 0 0 rg BT 395.63 318.10 Td ( ) Tj ET Q q 0 0 0 rg BT 398.27 318.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.89 318.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.64 318.10 Td ( ) Tj ET Q q 0 0 0 rg BT 454.49 318.10 Td (in ) Tj ET Q q 0 0 0 rg BT 465.11 318.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.72 318.10 Td (used) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.05 318.10 Td ( ) Tj ET Q q 0 0 0 rg BT 506.89 318.10 Td (was ) Tj ET Q q 0 0 0 rg BT 525.29 318.10 Td (primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.10 Td (due ) Tj ET Q q 0 0 0 rg BT 66.44 306.10 Td (to ) Tj ET Q q 0 0 0 rg BT 76.72 306.10 Td (our ) Tj ET Q q 0 0 0 rg BT 92.56 306.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 138.94 306.10 Td (of ) Tj ET Q q 0 0 0 rg BT 149.78 306.10 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 186.72 306.10 Td (Homes, ) Tj ET Q q 0 0 0 rg BT 220.05 306.10 Td (a ) Tj ET Q q 0 0 0 rg BT 226.99 306.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 265.04 306.10 Td (held ) Tj ET Q q 0 0 0 rg BT 284.76 306.10 Td (homebuilder ) Tj ET Q q 0 0 0 rg BT 337.80 306.10 Td (in ) Tj ET Q q 0 0 0 rg BT 348.09 306.10 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 381.42 306.10 Td (Michigan, ) Tj ET Q q 0 0 0 rg BT 424.75 306.10 Td (during ) Tj ET Q q 0 0 0 rg BT 453.36 306.10 Td (the ) Tj ET Q q 0 0 0 rg BT 468.08 306.10 Td (first ) Tj ET Q q 0 0 0 rg BT 486.69 306.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 517.51 306.10 Td (of ) Tj ET Q q 0 0 0 rg BT 528.34 306.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 550.85 306.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.76 294.10 Td ($101.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.65 294.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 270.10 Td (Financing ) Tj ET Q q 0 0 0 rg BT 95.02 270.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 118.31 270.10 Td (Flow ) Tj ET Q q 0 0 0 rg BT 141.28 270.10 Td (Activities. ) Tj ET Q q 0 0 0 rg BT 183.71 270.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.88 270.10 Td (During ) Tj ET Q q 0 0 0 rg BT 216.38 270.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.77 270.10 Td (six ) Tj ET Q q 0 0 0 rg BT 244.61 270.10 Td (months ) Tj ET Q q 0 0 0 rg BT 276.23 270.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 302.27 270.10 Td (June ) Tj ET Q q 0 0 0 rg BT 322.77 270.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 337.44 270.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.44 270.10 Td (, ) Tj ET Q q 0 0 0 rg BT 362.11 270.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.94 270.10 Td (generated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.80 270.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.97 270.10 Td ($39.9 ) Tj ET Q q 0 0 0 rg BT 441.64 270.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.53 270.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.70 270.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.20 270.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 503.14 270.10 Td (from ) Tj ET Q q 0 0 0 rg BT 524.75 270.10 Td (financing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 91.05 258.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 133.43 258.10 Td (to ) Tj ET Q q 0 0 0 rg BT 144.16 258.10 Td (generating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.32 258.10 Td ($33.9million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.21 258.10 Td ( ) Tj ET Q q 0 0 0 rg BT 246.16 258.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.44 258.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 278.17 258.10 Td (during ) Tj ET Q q 0 0 0 rg BT 307.23 258.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.40 258.10 Td (first ) Tj ET Q q 0 0 0 rg BT 341.46 258.10 Td (six ) Tj ET Q q 0 0 0 rg BT 356.08 258.10 Td (months ) Tj ET Q q 0 0 0 rg BT 388.48 258.10 Td (of ) Tj ET Q q 0 0 0 rg BT 399.77 258.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.77 258.10 Td (. ) Tj ET Q q 0 0 0 rg BT 425.22 258.10 Td ( ) Tj ET Q q 0 0 0 rg BT 427.96 258.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.46 258.10 Td ($6.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.35 258.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.30 258.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.06 258.10 Td ( ) Tj ET Q q 0 0 0 rg BT 534.01 258.10 Td (in ) Tj ET Q q 0 0 0 rg BT 544.74 258.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 91.00 246.10 Td (by ) Tj ET Q q 0 0 0 rg BT 103.64 246.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 144.04 246.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 182.77 246.10 Td (was ) Tj ET Q q 0 0 0 rg BT 200.96 246.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 240.81 246.10 Td (due ) Tj ET Q q 0 0 0 rg BT 257.88 246.10 Td (to ) Tj ET Q q 0 0 0 rg BT 268.30 246.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 308.69 246.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 356.88 246.10 Td (under ) Tj ET Q q 0 0 0 rg BT 382.28 246.10 Td (our ) Tj ET Q q 0 0 0 rg BT 398.25 246.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 425.88 246.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 459.07 246.10 Td (\(as ) Tj ET Q q 0 0 0 rg BT 473.37 246.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 505.99 246.10 Td (below\) ) Tj ET Q q 0 0 0 rg BT 536.39 246.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.48 234.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 95.29 234.10 Td (of) Tj ET Q q 0 0 0 rg BT 103.44 234.10 Td (fset, ) Tj ET Q q 0 0 0 rg BT 123.14 234.10 Td (in ) Tj ET Q q 0 0 0 rg BT 133.68 234.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 154.50 234.10 Td (by ) Tj ET Q q 0 0 0 rg BT 167.26 234.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.24 234.10 Td (repayment ) Tj ET Q q 0 0 0 rg BT 227.21 234.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.30 234.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 286.61 234.10 Td (under ) Tj ET Q q 0 0 0 rg BT 312.15 234.10 Td (our ) Tj ET Q q 0 0 0 rg BT 328.24 234.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 346.00 234.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 385.98 234.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 411.51 234.10 Td (facilities ) Tj ET Q q 0 0 0 rg BT 448.70 234.10 Td (and ) Tj ET Q q 0 0 0 rg BT 465.90 234.10 Td (that ) Tj ET Q q 0 0 0 rg BT 483.66 234.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 515.31 234.10 Td (of ) Tj ET Q q 0 0 0 rg BT 526.40 234.10 Td (our ) Tj ET Q q 0 0 0 rg BT 542.50 234.10 Td (2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 99.21 222.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 127.82 222.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 183.65 222.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 209.48 222.10 Td (that ) Tj ET Q q 0 0 0 rg BT 226.97 222.10 Td (were ) Tj ET Q q 0 0 0 rg BT 248.90 222.10 Td (not ) Tj ET Q q 0 0 0 rg BT 264.18 222.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 306.10 222.10 Td (into ) Tj ET Q q 0 0 0 rg BT 324.16 222.10 Td (common ) Tj ET Q q 0 0 0 rg BT 361.65 222.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 389.14 222.10 Td (by ) Tj ET Q q 0 0 0 rg BT 401.64 222.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.36 222.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 448.30 222.10 Td (thereof.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.24 200.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 98.32 200.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.32 200.10 Td ( ) Tj ET Q q 0 0 0 rg BT 121.06 200.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.25 200.10 Td (December ) Tj ET Q q 0 0 0 rg BT 182.07 200.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 197.32 200.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.32 200.10 Td (, ) Tj ET Q q 0 0 0 rg BT 222.56 200.10 Td (our ) Tj ET Q q 0 0 0 rg BT 238.64 200.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 259.71 200.10 Td (of ) Tj ET Q q 0 0 0 rg BT 270.78 200.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 329.08 200.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 349.04 200.10 Td (to ) Tj ET Q q 0 0 0 rg BT 359.56 200.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 388.95 200.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.25 200.10 Td (47%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.58 200.10 Td ( ) Tj ET Q q 0 0 0 rg BT 428.32 200.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.51 200.10 Td (46%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.84 200.10 Td (, ) Tj ET Q q 0 0 0 rg BT 469.08 200.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 516.74 200.10 Td (, ) Tj ET Q q 0 0 0 rg BT 521.99 200.10 Td (calculated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (as ) Tj ET Q q 0 0 0 rg BT 59.24 188.10 Td (the ) Tj ET Q q 0 0 0 rg BT 72.86 188.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 107.58 188.10 Td (value ) Tj ET Q q 0 0 0 rg BT 130.64 188.10 Td (of ) Tj ET Q q 0 0 0 rg BT 140.38 188.10 Td (our ) Tj ET Q q 0 0 0 rg BT 155.12 188.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 203.19 188.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 260.14 188.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 278.77 188.10 Td (divided ) Tj ET Q q 0 0 0 rg BT 310.17 188.10 Td (by ) Tj ET Q q 0 0 0 rg BT 321.58 188.10 Td (the ) Tj ET Q q 0 0 0 rg BT 335.20 188.10 Td (sum ) Tj ET Q q 0 0 0 rg BT 353.27 188.10 Td (of ) Tj ET Q q 0 0 0 rg BT 363.01 188.10 Td (the ) Tj ET Q q 0 0 0 rg BT 376.63 188.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 411.36 188.10 Td (value ) Tj ET Q q 0 0 0 rg BT 434.42 188.10 Td (of ) Tj ET Q q 0 0 0 rg BT 444.15 188.10 Td (our ) Tj ET Q q 0 0 0 rg BT 458.89 188.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 506.96 188.10 Td (homebuilding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 69.50 176.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 88.96 176.10 Td (shareholders) Tj ET Q q 0 0 0 rg BT 142.09 176.10 Td ( ) Tj ET Q q 0 0 0 rg BT 144.88 176.10 Td (equity) Tj ET Q q 0 0 0 rg BT 169.22 176.10 Td (. ) Tj ET Q q 0 0 0 rg BT 174.51 176.10 Td ( ) Tj ET Q q 0 0 0 rg BT 177.10 176.10 Td (This ) Tj ET Q q 0 0 0 rg BT 197.66 176.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 233.20 176.10 Td (was ) Tj ET Q q 0 0 0 rg BT 251.54 176.10 Td (due ) Tj ET Q q 0 0 0 rg BT 268.77 176.10 Td (to ) Tj ET Q q 0 0 0 rg BT 279.34 176.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 307.67 176.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 327.68 176.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 353.79 176.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 396.00 176.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.57 176.10 Td (December ) Tj ET Q q 0 0 0 rg BT 450.44 176.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 465.73 176.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.73 176.10 Td (, ) Tj ET Q q 0 0 0 rg BT 491.02 176.10 Td (of) Tj ET Q q 0 0 0 rg BT 499.17 176.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 516.39 176.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 552.50 176.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (an ) Tj ET Q q 0 0 0 rg BT 61.28 164.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 96.38 164.10 Td (in ) Tj ET Q q 0 0 0 rg BT 106.51 164.10 Td (shareholders) Tj ET Q q 0 0 0 rg BT 159.63 164.10 Td ( ) Tj ET Q q 0 0 0 rg BT 161.98 164.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 189.32 164.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.88 164.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 234.56 164.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.56 164.10 Td (. ) Tj ET Q q 0 0 0 rg BT 259.41 164.10 Td ( ) Tj ET Q q 0 0 0 rg BT 261.58 164.10 Td (W) Tj ET Q q 0 0 0 rg BT 270.22 164.10 Td (e ) Tj ET Q q 0 0 0 rg BT 277.01 164.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 308.22 164.10 Td (that ) Tj ET Q q 0 0 0 rg BT 325.57 164.10 Td (this ) Tj ET Q q 0 0 0 rg BT 342.36 164.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 363.03 164.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 399.82 164.10 Td (useful ) Tj ET Q q 0 0 0 rg BT 426.60 164.10 Td (information ) Tj ET Q q 0 0 0 rg BT 476.16 164.10 Td (for ) Tj ET Q q 0 0 0 rg BT 490.17 164.10 Td (understanding ) Tj ET Q q 0 0 0 rg BT 549.17 164.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.98 152.10 Td (position ) Tj ET Q q 0 0 0 rg BT 121.71 152.10 Td (and ) Tj ET Q q 0 0 0 rg BT 138.65 152.10 Td (the ) Tj ET Q q 0 0 0 rg BT 153.36 152.10 Td (leverage ) Tj ET Q q 0 0 0 rg BT 189.72 152.10 Td (employed ) Tj ET Q q 0 0 0 rg BT 231.66 152.10 Td (in ) Tj ET Q q 0 0 0 rg BT 241.94 152.10 Td (our ) Tj ET Q q 0 0 0 rg BT 257.77 152.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 304.42 152.10 Td (and ) Tj ET Q q 0 0 0 rg BT 321.36 152.10 Td (for ) Tj ET Q q 0 0 0 rg BT 335.52 152.10 Td (comparing ) Tj ET Q q 0 0 0 rg BT 380.78 152.10 Td (us ) Tj ET Q q 0 0 0 rg BT 392.18 152.10 Td (with ) Tj ET Q q 0 0 0 rg BT 412.45 152.10 Td (other ) Tj ET Q q 0 0 0 rg BT 435.50 152.10 Td (homebuilders.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 130.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 130.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.54 130.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 86.84 130.10 Td (our ) Tj ET Q q 0 0 0 rg BT 103.14 130.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 147.76 130.10 Td (with ) Tj ET Q q 0 0 0 rg BT 168.50 130.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 189.24 130.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 214.42 130.10 Td (from ) Tj ET Q q 0 0 0 rg BT 236.83 130.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 277.56 130.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 319.12 130.10 Td (including ) Tj ET Q q 0 0 0 rg BT 359.86 130.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 398.37 130.10 Td (from ) Tj ET Q q 0 0 0 rg BT 420.77 130.10 Td (home ) Tj ET Q q 0 0 0 rg BT 445.96 130.10 Td (deliveries, ) Tj ET Q q 0 0 0 rg BT 490.29 130.10 Td (land ) Tj ET Q q 0 0 0 rg BT 510.48 130.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 532.88 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 550.29 130.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 118.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 66.88 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 77.05 118.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 116.65 118.10 Td (loans. ) Tj ET Q q 0 0 0 rg BT 142.10 118.10 Td ( ) Tj ET Q q 0 0 0 rg BT 143.80 118.10 Td (W) Tj ET Q q 0 0 0 rg BT 152.44 118.10 Td (e ) Tj ET Q q 0 0 0 rg BT 158.72 118.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 189.43 118.10 Td (that ) Tj ET Q q 0 0 0 rg BT 206.26 118.10 Td (these ) Tj ET Q q 0 0 0 rg BT 228.64 118.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 260.47 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 270.64 118.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 292.74 118.10 Td (along ) Tj ET Q q 0 0 0 rg BT 316.80 118.10 Td (with ) Tj ET Q q 0 0 0 rg BT 336.41 118.10 Td (our ) Tj ET Q q 0 0 0 rg BT 351.58 118.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 383.95 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 394.12 118.10 Td (unrestricted ) Tj ET Q q 0 0 0 rg BT 443.16 118.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 462.76 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 479.04 118.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 526.43 118.10 Td (available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 106.10 Td (under ) Tj ET Q q 0 0 0 rg BT 74.87 106.10 Td (our ) Tj ET Q q 0 0 0 rg BT 90.80 106.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 116.17 106.10 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 155.70 106.10 Td (will ) Tj ET Q q 0 0 0 rg BT 173.86 106.10 Td (be ) Tj ET Q q 0 0 0 rg BT 185.90 106.10 Td (suf) Tj ET Q q 0 0 0 rg BT 197.94 106.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 226.09 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 236.47 106.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 257.40 106.10 Td (our ) Tj ET Q q 0 0 0 rg BT 273.33 106.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 312.03 106.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 358.50 106.10 Td (working ) Tj ET Q q 0 0 0 rg BT 394.43 106.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 423.68 106.10 Td (needs, ) Tj ET Q q 0 0 0 rg BT 451.56 106.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 498.04 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 508.42 106.10 Td (land ) Tj ET Q q 0 0 0 rg BT 528.24 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 545.28 106.10 Td (land ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 94.10 Td (development, ) Tj ET Q q 0 0 0 rg BT 106.00 94.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 157.79 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.47 94.10 Td (homes, ) Tj ET Q q 0 0 0 rg BT 199.43 94.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 239.54 94.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 280.49 94.10 Td (planned ) Tj ET Q q 0 0 0 rg BT 314.50 94.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 343.50 94.10 Td (spending, ) Tj ET Q q 0 0 0 rg BT 384.46 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 401.25 94.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 420.82 94.10 Td (service ) Tj ET Q q 0 0 0 rg BT 451.48 94.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 506.04 94.10 Td (for ) Tj ET Q q 0 0 0 rg BT 520.05 94.10 Td (at ) Tj ET Q q 0 0 0 rg BT 529.61 94.10 Td (least ) Tj ET Q q 0 0 0 rg BT 550.29 94.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 82.10 Td (next ) Tj ET Q q 0 0 0 rg BT 70.68 82.10 Td (twelve ) Tj ET Q q 0 0 0 rg BT 101.30 82.10 Td (months. ) Tj ET Q q 0 0 0 rg BT 137.21 82.10 Td ( ) Tj ET Q q 0 0 0 rg BT 141.18 82.10 Td (In ) Tj ET Q q 0 0 0 rg BT 153.47 82.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 192.71 82.10 Td (we ) Tj ET Q q 0 0 0 rg BT 208.34 82.10 Td (routinely ) Tj ET Q q 0 0 0 rg BT 248.41 82.10 Td (monitor ) Tj ET Q q 0 0 0 rg BT 284.04 82.10 Td (current ) Tj ET Q q 0 0 0 rg BT 316.32 82.10 Td (operational ) Tj ET Q q 0 0 0 rg BT 365.26 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 383.67 82.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 404.85 82.10 Td (service ) Tj ET Q q 0 0 0 rg BT 437.13 82.10 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 495.79 82.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 534.74 82.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 70.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 96.24 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 113.26 70.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 138.60 70.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 192.28 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 209.29 70.10 Td (we ) Tj ET Q q 0 0 0 rg BT 223.53 70.10 Td (may ) Tj ET Q q 0 0 0 rg BT 243.33 70.10 Td (choose ) Tj ET Q q 0 0 0 rg BT 273.67 70.10 Td (to ) Tj ET Q q 0 0 0 rg BT 284.03 70.10 Td (seek ) Tj ET Q q 0 0 0 rg BT 304.37 70.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 346.94 70.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 376.17 70.10 Td (by ) Tj ET Q q 0 0 0 rg BT 388.75 70.10 Td (issuing ) Tj ET Q q 0 0 0 rg BT 419.66 70.10 Td (new ) Tj ET Q q 0 0 0 rg BT 438.90 70.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 458.69 70.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 486.82 70.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 514.39 70.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 554.73 70.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 58.10 Td (strengthen ) Tj ET Q q 0 0 0 rg BT 94.93 58.10 Td (our ) Tj ET Q q 0 0 0 rg BT 112.04 58.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 149.71 58.10 Td (or ) Tj ET Q q 0 0 0 rg BT 161.82 58.10 Td (our ) Tj ET Q q 0 0 0 rg BT 178.93 58.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 222.15 58.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 252.58 58.10 Td (structure. ) Tj ET Q q 0 0 0 rg BT 293.84 58.10 Td ( ) Tj ET Q q 0 0 0 rg BT 297.35 58.10 Td (The ) Tj ET Q q 0 0 0 rg BT 316.67 58.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 358.22 58.10 Td (needs ) Tj ET Q q 0 0 0 rg BT 384.76 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.87 58.10 Td (our ) Tj ET Q q 0 0 0 rg BT 413.98 58.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 473.31 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 491.53 58.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 530.29 58.10 Td (services ) Tj ET Q endstream endobj 97 0 obj <>] /Rotate 0 /Contents 98 0 R>> endobj 98 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.95 740.10 Td (depend ) Tj ET Q q 0 0 0 rg BT 125.62 740.10 Td (on ) Tj ET Q q 0 0 0 rg BT 138.41 740.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 185.07 740.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 207.30 740.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 240.08 740.10 Td (in ) Tj ET Q q 0 0 0 rg BT 250.66 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.66 740.10 Td (current ) Tj ET Q q 0 0 0 rg BT 296.77 740.10 Td (year ) Tj ET Q q 0 0 0 rg BT 316.77 740.10 Td (as ) Tj ET Q q 0 0 0 rg BT 327.89 740.10 Td (well ) Tj ET Q q 0 0 0 rg BT 347.90 740.10 Td (as ) Tj ET Q q 0 0 0 rg BT 359.02 740.10 Td (future ) Tj ET Q q 0 0 0 rg BT 385.69 740.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 412.08 740.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 453.20 740.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 479.32 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 496.55 740.10 Td (related ) Tj ET Q q 0 0 0 rg BT 526.54 740.10 Td (turnover) Tj ET Q q 0 0 0 rg BT 560.02 740.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 94.02 728.10 Td (land ) Tj ET Q q 0 0 0 rg BT 114.67 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.54 728.10 Td (lot ) Tj ET Q q 0 0 0 rg BT 146.53 728.10 Td (purchases, ) Tj ET Q q 0 0 0 rg BT 191.89 728.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 212.54 728.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 249.85 728.10 Td (dates, ) Tj ET Q q 0 0 0 rg BT 276.33 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 294.20 728.10 Td (other ) Tj ET Q q 0 0 0 rg BT 318.18 728.10 Td (factors. ) Tj ET Q q 0 0 0 rg BT 351.32 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 354.75 728.10 Td (If ) Tj ET Q q 0 0 0 rg BT 364.85 728.10 Td (we ) Tj ET Q q 0 0 0 rg BT 379.94 728.10 Td (seek ) Tj ET Q q 0 0 0 rg BT 401.14 728.10 Td (such ) Tj ET Q q 0 0 0 rg BT 422.90 728.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 466.33 728.10 Td (capital, ) Tj ET Q q 0 0 0 rg BT 498.91 728.10 Td (there ) Tj ET Q q 0 0 0 rg BT 522.33 728.10 Td (can ) Tj ET Q q 0 0 0 rg BT 539.64 728.10 Td (be ) Tj ET Q q 0 0 0 rg BT 552.51 728.10 Td (no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (assurance ) Tj ET Q q 0 0 0 rg BT 90.68 716.10 Td (that ) Tj ET Q q 0 0 0 rg BT 107.99 716.10 Td (we ) Tj ET Q q 0 0 0 rg BT 121.96 716.10 Td (would ) Tj ET Q q 0 0 0 rg BT 149.27 716.10 Td (be ) Tj ET Q q 0 0 0 rg BT 161.02 716.10 Td (able ) Tj ET Q q 0 0 0 rg BT 179.99 716.10 Td (to ) Tj ET Q q 0 0 0 rg BT 190.08 716.10 Td (obtain ) Tj ET Q q 0 0 0 rg BT 217.39 716.10 Td (such ) Tj ET Q q 0 0 0 rg BT 238.03 716.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 280.33 716.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 309.29 716.10 Td (on ) Tj ET Q q 0 0 0 rg BT 321.60 716.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 346.13 716.10 Td (acceptable ) Tj ET Q q 0 0 0 rg BT 390.63 716.10 Td (to ) Tj ET Q q 0 0 0 rg BT 400.72 716.10 Td (us, ) Tj ET Q q 0 0 0 rg BT 414.43 716.10 Td (if ) Tj ET Q q 0 0 0 rg BT 422.85 716.10 Td (at ) Tj ET Q q 0 0 0 rg BT 432.38 716.10 Td (all, ) Tj ET Q q 0 0 0 rg BT 447.18 716.10 Td (and ) Tj ET Q q 0 0 0 rg BT 463.93 716.10 Td (such ) Tj ET Q q 0 0 0 rg BT 484.58 716.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 526.88 716.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 554.19 716.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 69.22 704.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 109.48 704.10 Td (could ) Tj ET Q q 0 0 0 rg BT 134.20 704.10 Td (dilute ) Tj ET Q q 0 0 0 rg BT 159.47 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 174.19 704.10 Td (interests ) Tj ET Q q 0 0 0 rg BT 210.01 704.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.84 704.10 Td (our ) Tj ET Q q 0 0 0 rg BT 236.67 704.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 270.84 704.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 323.88 704.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 351.92 704.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 387.18 704.10 Td (our ) Tj ET Q q 0 0 0 rg BT 403.01 704.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 434.94 704.10 Td (costs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.48 682.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.81 682.10 Td (is ) Tj ET Q q 0 0 0 rg BT 117.92 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 124.79 682.10 Td (party ) Tj ET Q q 0 0 0 rg BT 147.78 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 158.00 682.10 Td (three ) Tj ET Q q 0 0 0 rg BT 180.42 682.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 214.51 682.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 239.71 682.10 Td (agreements: ) Tj ET Q q 0 0 0 rg BT 290.46 682.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 304.56 682.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.44 682.10 Td ($500million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.83 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 365.27 682.10 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 408.24 682.10 Td (revolving ) Tj ET Q q 0 0 0 rg BT 449.00 682.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 474.21 682.10 Td (facility) Tj ET Q q 0 0 0 rg BT 501.88 682.10 Td (, ) Tj ET Q q 0 0 0 rg BT 506.81 682.10 Td (dated ) Tj ET Q q 0 0 0 rg BT 530.91 682.10 Td (July ) Tj ET Q q 0 0 0 rg BT 550.02 682.10 Td (18, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 74.14 670.10 Td (as ) Tj ET Q q 0 0 0 rg BT 84.62 670.10 Td (amended, ) Tj ET Q q 0 0 0 rg BT 125.35 670.10 Td (with ) Tj ET Q q 0 0 0 rg BT 145.28 670.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 162.42 670.10 Td (Homes, ) Tj ET Q q 0 0 0 rg BT 195.39 670.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 212.81 670.10 Td (as ) Tj ET Q q 0 0 0 rg BT 223.28 670.10 Td (borrower ) Tj ET Q q 0 0 0 rg BT 262.07 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 278.66 670.10 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 324.66 670.10 Td (by ) Tj ET Q q 0 0 0 rg BT 336.80 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.17 670.10 Td (Company) Tj ET Q q 0 0 0 rg BT 392.83 670.10 Td (s ) Tj ET Q q 0 0 0 rg BT 398.87 670.10 Td (wholly ) Tj ET Q q 0 0 0 rg BT 428.79 670.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 457.59 670.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 515.29 670.10 Td (subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 68.53 658.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 101.44 658.10 Td (Facility\); ) Tj ET Q q 0 0 0 rg BT 146.02 658.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 161.16 658.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.07 658.10 Td ($125million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.46 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 223.94 658.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 257.96 658.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 299.20 658.10 Td (warehousing ) Tj ET Q q 0 0 0 rg BT 353.78 658.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 398.90 658.10 Td (\(which ) Tj ET Q q 0 0 0 rg BT 430.15 658.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 470.27 658.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.53 658.10 Td ($160million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.92 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 536.40 658.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 80.58 646.10 Td (periods\), ) Tj ET Q q 0 0 0 rg BT 119.73 646.10 Td (dated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.26 646.10 Td (June23, ) Tj ET Q q 0 0 0 rg BT 182.47 646.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.47 646.10 Td (, ) Tj ET Q q 0 0 0 rg BT 208.84 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 212.72 646.10 Td (as ) Tj ET Q q 0 0 0 rg BT 224.93 646.10 Td (amended ) Tj ET Q q 0 0 0 rg BT 264.90 646.10 Td (on ) Tj ET Q q 0 0 0 rg BT 278.78 646.10 Td (June ) Tj ET Q q 0 0 0 rg BT 300.98 646.10 Td (22, ) Tj ET Q q 0 0 0 rg BT 317.36 646.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 343.74 646.10 Td (with ) Tj ET Q q 0 0 0 rg BT 365.40 646.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 384.27 646.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 425.36 646.10 Td (as ) Tj ET Q q 0 0 0 rg BT 437.57 646.10 Td (borrower ) Tj ET Q q 0 0 0 rg BT 478.10 646.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 497.52 646.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 523.62 646.10 Td (Mortgage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 634.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 103.94 634.10 Td (Agreement\); ) Tj ET Q q 0 0 0 rg BT 161.38 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 178.28 634.10 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 192.41 634.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.32 634.10 Td ($35 ) Tj ET Q q 0 0 0 rg BT 216.79 634.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.68 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 248.15 634.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 288.38 634.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 334.15 634.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 378.26 634.10 Td (\(which ) Tj ET Q q 0 0 0 rg BT 408.50 634.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 447.61 634.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.86 634.10 Td ($50million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.25 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 506.72 634.10 Td (during ) Tj ET Q q 0 0 0 rg BT 535.30 634.10 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.10 Td (periods\), ) Tj ET Q q 0 0 0 rg BT 86.47 622.10 Td (as ) Tj ET Q q 0 0 0 rg BT 96.51 622.10 Td (amended ) Tj ET Q q 0 0 0 rg BT 134.31 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 150.45 622.10 Td (restated ) Tj ET Q q 0 0 0 rg BT 183.25 622.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.96 622.10 Td (October30, ) Tj ET Q q 0 0 0 rg BT 243.87 622.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.87 622.10 Td (, ) Tj ET Q q 0 0 0 rg BT 268.08 622.10 Td (with ) Tj ET Q q 0 0 0 rg BT 287.56 622.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 304.27 622.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 343.18 622.10 Td (as ) Tj ET Q q 0 0 0 rg BT 353.22 622.10 Td (borrower ) Tj ET Q q 0 0 0 rg BT 391.57 622.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 408.83 622.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 432.75 622.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 473.34 622.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 521.69 622.10 Td (Facility\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 600.10 Td (Included ) Tj ET Q q 0 0 0 rg BT 86.47 600.10 Td (in ) Tj ET Q q 0 0 0 rg BT 96.23 600.10 Td (the ) Tj ET Q q 0 0 0 rg BT 110.44 600.10 Td (table ) Tj ET Q q 0 0 0 rg BT 131.85 600.10 Td (below ) Tj ET Q q 0 0 0 rg BT 158.28 600.10 Td (is ) Tj ET Q q 0 0 0 rg BT 166.93 600.10 Td (a ) Tj ET Q q 0 0 0 rg BT 173.35 600.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 212.56 600.10 Td (of ) Tj ET Q q 0 0 0 rg BT 222.87 600.10 Td (our ) Tj ET Q q 0 0 0 rg BT 238.19 600.10 Td (available ) Tj ET Q q 0 0 0 rg BT 276.26 600.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 308.24 600.10 Td (of ) Tj ET Q q 0 0 0 rg BT 318.55 600.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 338.30 600.10 Td (from ) Tj ET Q q 0 0 0 rg BT 359.73 600.10 Td (the ) Tj ET Q q 0 0 0 rg BT 373.93 600.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 400.91 600.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 430.81 600.10 Td (, ) Tj ET Q q 0 0 0 rg BT 435.30 600.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.50 600.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 469.27 600.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 509.98 600.10 Td (W) Tj ET Q q 0 0 0 rg BT 518.62 600.10 Td (arehousing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 588.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 96.42 588.10 Td (and ) Tj ET Q q 0 0 0 rg BT 113.36 588.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.08 588.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 148.36 588.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 189.74 588.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 238.88 588.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 271.94 588.10 Td (as ) Tj ET Q q 0 0 0 rg BT 282.77 588.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.60 588.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 329.43 588.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.43 588.10 Td (: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 557.6 m 392 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 557.6 m 455 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 557.6 m 509 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 557.6 m 562 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 557.6 m 455 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 557.6 m 509 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 557.6 m 562 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 533.6 m 392 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392 533.6 m 455 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 533.6 m 509 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 533.6 m 562 533.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 561.85 Td (\(In thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.10 569.55 Td (Expiration) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.40 561.55 Td (Date) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.90 569.55 Td (Outstanding) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 561.55 Td (Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.70 569.55 Td (A) Tj ET Q q 0 0 0 rg BT 524.88 569.55 Td (vailable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.85 561.55 Td (Amount) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 549.55 Td (Notes payable homebuilding) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 149.48 553.18 Td ( \(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.75 549.55 Td (7/18/2021) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.50 549.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.75 549.55 Td (181,800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 549.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 549.55 Td (268,561) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 537.55 Td (Notes payable financial services ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 162.79 541.18 Td (\(b\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 537.55 Td (\(b\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.50 537.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.75 537.55 Td (93,163) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 537.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.75 537.55 Td (1) Tj ET Q q 0 0 0 rg BT 540.75 537.55 Td (1,779) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 518.50 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 518.50 Td (The ) Tj ET Q q 0 0 0 rg BT 81.39 518.50 Td (available ) Tj ET Q q 0 0 0 rg BT 111.71 518.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 137.16 518.50 Td (under ) Tj ET Q q 0 0 0 rg BT 156.82 518.50 Td (the ) Tj ET Q q 0 0 0 rg BT 168.04 518.50 Td (Credit ) Tj ET Q q 0 0 0 rg BT 189.49 518.50 Td (Facility ) Tj ET Q q 0 0 0 rg BT 215.38 518.50 Td (is ) Tj ET Q q 0 0 0 rg BT 222.17 518.50 Td (computed ) Tj ET Q q 0 0 0 rg BT 255.17 518.50 Td (in ) Tj ET Q q 0 0 0 rg BT 262.84 518.50 Td (accordance ) Tj ET Q q 0 0 0 rg BT 300.26 518.50 Td (with ) Tj ET Q q 0 0 0 rg BT 315.93 518.50 Td (the ) Tj ET Q q 0 0 0 rg BT 327.15 518.50 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 361.93 518.50 Td (base ) Tj ET Q q 0 0 0 rg BT 377.60 518.50 Td (calculation ) Tj ET Q q 0 0 0 rg BT 414.14 518.50 Td (under ) Tj ET Q q 0 0 0 rg BT 433.81 518.50 Td (the ) Tj ET Q q 0 0 0 rg BT 445.03 518.50 Td (Credit ) Tj ET Q q 0 0 0 rg BT 466.48 518.50 Td (Facility) Tj ET Q q 0 0 0 rg BT 490.40 518.50 Td (, ) Tj ET Q q 0 0 0 rg BT 493.85 518.50 Td (which ) Tj ET Q q 0 0 0 rg BT 514.85 518.50 Td (applies ) Tj ET Q q 0 0 0 rg BT 538.96 518.50 Td (various ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 508.90 Td (advance ) Tj ET Q q 0 0 0 rg BT 95.64 508.90 Td (rates ) Tj ET Q q 0 0 0 rg BT 112.67 508.90 Td (for ) Tj ET Q q 0 0 0 rg BT 123.93 508.90 Td (dif) Tj ET Q q 0 0 0 rg BT 132.67 508.90 Td (ferent ) Tj ET Q q 0 0 0 rg BT 153.26 508.90 Td (categories ) Tj ET Q q 0 0 0 rg BT 187.62 508.90 Td (of ) Tj ET Q q 0 0 0 rg BT 196.21 508.90 Td (inventory ) Tj ET Q q 0 0 0 rg BT 228.81 508.90 Td (and ) Tj ET Q q 0 0 0 rg BT 242.29 508.90 Td (totaled ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 265.99 508.90 Td ($622.9million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.10 508.90 Td ( ) Tj ET Q q 0 0 0 rg BT 315.04 508.90 Td (of ) Tj ET Q q 0 0 0 rg BT 323.63 508.90 Td (availability ) Tj ET Q q 0 0 0 rg BT 361.55 508.90 Td (for ) Tj ET Q q 0 0 0 rg BT 372.82 508.90 Td (additional ) Tj ET Q q 0 0 0 rg BT 406.74 508.90 Td (senior ) Tj ET Q q 0 0 0 rg BT 428.22 508.90 Td (debt ) Tj ET Q q 0 0 0 rg BT 443.93 508.90 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.64 508.90 Td (June30, ) Tj ET Q q 0 0 0 rg BT 480.23 508.90 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 496.23 508.90 Td (. ) Tj ET Q q 0 0 0 rg BT 500.17 508.90 Td ( ) Tj ET Q q 0 0 0 rg BT 501.67 508.90 Td (As ) Tj ET Q q 0 0 0 rg BT 512.49 508.90 Td (a ) Tj ET Q q 0 0 0 rg BT 517.98 508.90 Td (result, ) Tj ET Q q 0 0 0 rg BT 539.68 508.90 Td (the ) Tj ET Q q 0 0 0 rg BT 551.39 508.90 Td (full ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 499.30 Td ($500million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 108.61 499.30 Td ( ) Tj ET Q q 0 0 0 rg BT 109.95 499.30 Td (commitment ) Tj ET Q q 0 0 0 rg BT 151.73 499.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 177.06 499.30 Td (of ) Tj ET Q q 0 0 0 rg BT 185.06 499.30 Td (the ) Tj ET Q q 0 0 0 rg BT 196.17 499.30 Td (facility ) Tj ET Q q 0 0 0 rg BT 220.17 499.30 Td (was ) Tj ET Q q 0 0 0 rg BT 233.95 499.30 Td (available, ) Tj ET Q q 0 0 0 rg BT 266.16 499.30 Td (less ) Tj ET Q q 0 0 0 rg BT 279.49 499.30 Td (any ) Tj ET Q q 0 0 0 rg BT 292.38 499.30 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 330.16 499.30 Td (and ) Tj ET Q q 0 0 0 rg BT 343.05 499.30 Td (letters ) Tj ET Q q 0 0 0 rg BT 363.94 499.30 Td (of ) Tj ET Q q 0 0 0 rg BT 371.94 499.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 391.49 499.30 Td (outstanding. ) Tj ET Q q 0 0 0 rg BT 432.16 499.30 Td ( ) Tj ET Q q 0 0 0 rg BT 433.40 499.30 Td (There ) Tj ET Q q 0 0 0 rg BT 453.39 499.30 Td (were ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.27 499.30 Td ($181.8 ) Tj ET Q q 0 0 0 rg BT 493.61 499.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.72 499.30 Td ( ) Tj ET Q q 0 0 0 rg BT 518.06 499.30 Td (of ) Tj ET Q q 0 0 0 rg BT 526.06 499.30 Td (borrowings ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 489.70 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 106.83 489.70 Td (and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 120.38 489.70 Td ($49.6million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 163.49 489.70 Td ( ) Tj ET Q q 0 0 0 rg BT 165.48 489.70 Td (of ) Tj ET Q q 0 0 0 rg BT 174.14 489.70 Td (letters ) Tj ET Q q 0 0 0 rg BT 195.69 489.70 Td (of ) Tj ET Q q 0 0 0 rg BT 204.35 489.70 Td (credit ) Tj ET Q q 0 0 0 rg BT 224.55 489.70 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 263.88 489.70 Td (at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.65 489.70 Td (June30, ) Tj ET Q q 0 0 0 rg BT 300.31 489.70 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.31 489.70 Td (, ) Tj ET Q q 0 0 0 rg BT 320.31 489.70 Td (leaving ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.85 489.70 Td ($268.6 ) Tj ET Q q 0 0 0 rg BT 369.85 489.70 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.96 489.70 Td ( ) Tj ET Q q 0 0 0 rg BT 394.96 489.70 Td (available. ) Tj ET Q q 0 0 0 rg BT 427.82 489.70 Td ( ) Tj ET Q q 0 0 0 rg BT 429.68 489.70 Td (The ) Tj ET Q q 0 0 0 rg BT 444.11 489.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 466.10 489.70 Td (Facility ) Tj ET Q q 0 0 0 rg BT 492.54 489.70 Td (has ) Tj ET Q q 0 0 0 rg BT 505.20 489.70 Td (an ) Tj ET Q q 0 0 0 rg BT 514.75 489.70 Td (expiration ) Tj ET Q q 0 0 0 rg BT 549.18 489.70 Td (date ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 480.10 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 76.16 480.10 Td (July18, ) Tj ET Q q 0 0 0 rg BT 103.50 480.10 Td (2021) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 119.50 480.10 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 464.50 Td (\(b\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 464.50 Td (The ) Tj ET Q q 0 0 0 rg BT 82.70 464.50 Td (available ) Tj ET Q q 0 0 0 rg BT 114.34 464.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 141.10 464.50 Td (is ) Tj ET Q q 0 0 0 rg BT 149.20 464.50 Td (computed ) Tj ET Q q 0 0 0 rg BT 183.51 464.50 Td (in ) Tj ET Q q 0 0 0 rg BT 192.49 464.50 Td (accordance ) Tj ET Q q 0 0 0 rg BT 231.22 464.50 Td (with ) Tj ET Q q 0 0 0 rg BT 248.21 464.50 Td (the ) Tj ET Q q 0 0 0 rg BT 260.75 464.50 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 296.84 464.50 Td (base ) Tj ET Q q 0 0 0 rg BT 313.82 464.50 Td (calculations ) Tj ET Q q 0 0 0 rg BT 354.79 464.50 Td (under ) Tj ET Q q 0 0 0 rg BT 375.77 464.50 Td (the ) Tj ET Q q 0 0 0 rg BT 388.30 464.50 Td (MIF ) Tj ET Q q 0 0 0 rg BT 405.29 464.50 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 438.96 464.50 Td (W) Tj ET Q q 0 0 0 rg BT 445.87 464.50 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 483.13 464.50 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 521.43 464.50 Td (and ) Tj ET Q q 0 0 0 rg BT 535.74 464.50 Td (the ) Tj ET Q q 0 0 0 rg BT 548.28 464.50 Td (MIF ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 454.90 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 100.60 454.90 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 139.92 454.90 Td (Facility) Tj ET Q q 0 0 0 rg BT 163.85 454.90 Td (, ) Tj ET Q q 0 0 0 rg BT 167.85 454.90 Td (each ) Tj ET Q q 0 0 0 rg BT 184.50 454.90 Td (of ) Tj ET Q q 0 0 0 rg BT 193.17 454.90 Td (which ) Tj ET Q q 0 0 0 rg BT 214.72 454.90 Td (may ) Tj ET Q q 0 0 0 rg BT 230.50 454.90 Td (be ) Tj ET Q q 0 0 0 rg BT 240.05 454.90 Td (increased ) Tj ET Q q 0 0 0 rg BT 272.26 454.90 Td (by ) Tj ET Q q 0 0 0 rg BT 282.26 454.90 Td (pledging ) Tj ET Q q 0 0 0 rg BT 312.26 454.90 Td (additional ) Tj ET Q q 0 0 0 rg BT 346.26 454.90 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 378.47 454.90 Td (collateral. ) Tj ET Q q 0 0 0 rg BT 414.09 454.90 Td (The ) Tj ET Q q 0 0 0 rg BT 428.53 454.90 Td (maximum ) Tj ET Q q 0 0 0 rg BT 462.97 454.90 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 496.07 454.90 Td (commitment ) Tj ET Q q 0 0 0 rg BT 538.51 454.90 Td (amount ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 445.30 Td (of ) Tj ET Q q 0 0 0 rg BT 75.87 445.30 Td (these ) Tj ET Q q 0 0 0 rg BT 94.02 445.30 Td (agreements ) Tj ET Q q 0 0 0 rg BT 132.15 445.30 Td (as ) Tj ET Q q 0 0 0 rg BT 140.52 445.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 148.89 445.30 Td (June30, ) Tj ET Q q 0 0 0 rg BT 177.26 445.30 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 193.26 445.30 Td ( ) Tj ET Q q 0 0 0 rg BT 194.97 445.30 Td (was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 209.12 445.30 Td ($160 ) Tj ET Q q 0 0 0 rg BT 226.82 445.30 Td (million) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.94 445.30 Td (. ) Tj ET Q q 0 0 0 rg BT 253.64 445.30 Td ( ) Tj ET Q q 0 0 0 rg BT 255.23 445.30 Td (The ) Tj ET Q q 0 0 0 rg BT 269.37 445.30 Td (MIF ) Tj ET Q q 0 0 0 rg BT 285.31 445.30 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 317.99 445.30 Td (W) Tj ET Q q 0 0 0 rg BT 324.90 445.30 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 361.33 445.30 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 398.58 445.30 Td (has ) Tj ET Q q 0 0 0 rg BT 410.95 445.30 Td (an ) Tj ET Q q 0 0 0 rg BT 420.21 445.30 Td (expiration ) Tj ET Q q 0 0 0 rg BT 454.35 445.30 Td (date ) Tj ET Q q 0 0 0 rg BT 469.38 445.30 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.75 445.30 Td (June ) Tj ET Q q 0 0 0 rg BT 494.12 445.30 Td (21, ) Tj ET Q q 0 0 0 rg BT 505.83 445.30 Td (2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.83 445.30 Td ( ) Tj ET Q q 0 0 0 rg BT 523.54 445.30 Td (and ) Tj ET Q q 0 0 0 rg BT 536.79 445.30 Td (the ) Tj ET Q q 0 0 0 rg BT 548.27 445.30 Td (MIF ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.50 435.70 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 100.60 435.70 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 139.92 435.70 Td (Facility ) Tj ET Q q 0 0 0 rg BT 166.36 435.70 Td (has ) Tj ET Q q 0 0 0 rg BT 179.02 435.70 Td (an ) Tj ET Q q 0 0 0 rg BT 188.57 435.70 Td (expiration ) Tj ET Q q 0 0 0 rg BT 223.01 435.70 Td (date ) Tj ET Q q 0 0 0 rg BT 238.33 435.70 Td (of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.00 435.70 Td (October29, ) Tj ET Q q 0 0 0 rg BT 286.76 435.70 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.76 435.70 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 411.70 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.88 411.70 Td (Payable ) Tj ET Q q 0 0 0 rg BT 112.27 411.70 Td (- ) Tj ET Q q 0 0 0 rg BT 118.10 411.70 Td (Homebuilding.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 181.73 411.70 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 387.70 Td (Homebuilding ) Tj ET Q q 0 0 0 rg BT 111.77 387.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 140.14 387.70 Td (Facility) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 171.80 387.70 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.30 387.70 Td ( ) Tj ET Q q 0 0 0 rg BT 176.92 387.70 Td (The ) Tj ET Q q 0 0 0 rg BT 195.28 387.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 223.10 387.70 Td (Facility ) Tj ET Q q 0 0 0 rg BT 256.46 387.70 Td (provides ) Tj ET Q q 0 0 0 rg BT 293.72 387.70 Td (for ) Tj ET Q q 0 0 0 rg BT 308.20 387.70 Td (an ) Tj ET Q q 0 0 0 rg BT 320.45 387.70 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 362.13 387.70 Td (commitment ) Tj ET Q q 0 0 0 rg BT 415.50 387.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 448.31 387.70 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.46 387.70 Td ($500 ) Tj ET Q q 0 0 0 rg BT 482.27 387.70 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.17 387.70 Td (, ) Tj ET Q q 0 0 0 rg BT 516.48 387.70 Td (including ) Tj ET Q q 0 0 0 rg BT 557.07 387.70 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 375.70 Td ($125 ) Tj ET Q q 0 0 0 rg BT 72.25 375.70 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.14 375.70 Td ( ) Tj ET Q q 0 0 0 rg BT 103.89 375.70 Td (sub-facility ) Tj ET Q q 0 0 0 rg BT 152.18 375.70 Td (for ) Tj ET Q q 0 0 0 rg BT 166.59 375.70 Td (letters ) Tj ET Q q 0 0 0 rg BT 193.77 375.70 Td (of ) Tj ET Q q 0 0 0 rg BT 204.85 375.70 Td (credit. ) Tj ET Q q 0 0 0 rg BT 232.86 375.70 Td ( ) Tj ET Q q 0 0 0 rg BT 235.61 375.70 Td (During ) Tj ET Q q 0 0 0 rg BT 266.68 375.70 Td (the ) Tj ET Q q 0 0 0 rg BT 281.65 375.70 Td (second ) Tj ET Q q 0 0 0 rg BT 312.17 375.70 Td (quarter ) Tj ET Q q 0 0 0 rg BT 343.23 375.70 Td (of ) Tj ET Q q 0 0 0 rg BT 354.31 375.70 Td (2018, ) Tj ET Q q 0 0 0 rg BT 379.55 375.70 Td ( ) Tj ET Q q 0 0 0 rg BT 382.30 375.70 Td (the ) Tj ET Q q 0 0 0 rg BT 397.27 375.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 438.90 375.70 Td (exercised ) Tj ET Q q 0 0 0 rg BT 479.40 375.70 Td (an ) Tj ET Q q 0 0 0 rg BT 491.59 375.70 Td (accordion ) Tj ET Q q 0 0 0 rg BT 533.76 375.70 Td (feature ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 363.70 Td (provided ) Tj ET Q q 0 0 0 rg BT 86.70 363.70 Td (for ) Tj ET Q q 0 0 0 rg BT 100.01 363.70 Td (within ) Tj ET Q q 0 0 0 rg BT 127.21 363.70 Td (the ) Tj ET Q q 0 0 0 rg BT 141.08 363.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 167.73 363.70 Td (Facility) Tj ET Q q 0 0 0 rg BT 197.63 363.70 Td (, ) Tj ET Q q 0 0 0 rg BT 201.78 363.70 Td (which ) Tj ET Q q 0 0 0 rg BT 227.87 363.70 Td (increased ) Tj ET Q q 0 0 0 rg BT 267.27 363.70 Td (the ) Tj ET Q q 0 0 0 rg BT 281.14 363.70 Td (total ) Tj ET Q q 0 0 0 rg BT 300.56 363.70 Td (revolving ) Tj ET Q q 0 0 0 rg BT 340.54 363.70 Td (commitment ) Tj ET Q q 0 0 0 rg BT 392.74 363.70 Td (under ) Tj ET Q q 0 0 0 rg BT 417.16 363.70 Td (the ) Tj ET Q q 0 0 0 rg BT 431.02 363.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 457.67 363.70 Td (Facility ) Tj ET Q q 0 0 0 rg BT 489.87 363.70 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.96 363.70 Td ($475 ) Tj ET Q q 0 0 0 rg BT 532.61 363.70 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.50 363.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 351.70 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.27 351.70 Td ($500 ) Tj ET Q q 0 0 0 rg BT 83.26 351.70 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.15 351.70 Td ( ) Tj ET Q q 0 0 0 rg BT 115.14 351.70 Td (by ) Tj ET Q q 0 0 0 rg BT 128.13 351.70 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 168.89 351.70 Td (a ) Tj ET Q q 0 0 0 rg BT 176.32 351.70 Td (commitment ) Tj ET Q q 0 0 0 rg BT 229.86 351.70 Td (from ) Tj ET Q q 0 0 0 rg BT 252.29 351.70 Td (an ) Tj ET Q q 0 0 0 rg BT 264.71 351.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 307.69 351.70 Td (lender ) Tj ET Q q 0 0 0 rg BT 335.67 351.70 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.99 351.70 Td ($25 ) Tj ET Q q 0 0 0 rg BT 364.98 351.70 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.87 351.70 Td (. ) Tj ET Q q 0 0 0 rg BT 399.36 351.70 Td ( ) Tj ET Q q 0 0 0 rg BT 402.13 351.70 Td (The ) Tj ET Q q 0 0 0 rg BT 420.67 351.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 448.65 351.70 Td (Facility ) Tj ET Q q 0 0 0 rg BT 482.20 351.70 Td (matures ) Tj ET Q q 0 0 0 rg BT 516.84 351.70 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.83 351.70 Td (July18, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 339.70 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 339.70 Td (. ) Tj ET Q q 0 0 0 rg BT 74.44 339.70 Td ( ) Tj ET Q q 0 0 0 rg BT 76.88 339.70 Td (Interest ) Tj ET Q q 0 0 0 rg BT 109.30 339.70 Td (on ) Tj ET Q q 0 0 0 rg BT 121.74 339.70 Td (amounts ) Tj ET Q q 0 0 0 rg BT 158.07 339.70 Td (borrowed ) Tj ET Q q 0 0 0 rg BT 198.83 339.70 Td (under ) Tj ET Q q 0 0 0 rg BT 224.03 339.70 Td (the ) Tj ET Q q 0 0 0 rg BT 238.69 339.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 266.12 339.70 Td (Facility ) Tj ET Q q 0 0 0 rg BT 299.11 339.70 Td (is ) Tj ET Q q 0 0 0 rg BT 308.22 339.70 Td (payable ) Tj ET Q q 0 0 0 rg BT 341.76 339.70 Td (at ) Tj ET Q q 0 0 0 rg BT 351.41 339.70 Td (a ) Tj ET Q q 0 0 0 rg BT 358.29 339.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 375.71 339.70 Td (which ) Tj ET Q q 0 0 0 rg BT 402.59 339.70 Td (is ) Tj ET Q q 0 0 0 rg BT 411.70 339.70 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 447.46 339.70 Td (daily ) Tj ET Q q 0 0 0 rg BT 469.90 339.70 Td (and ) Tj ET Q q 0 0 0 rg BT 486.78 339.70 Td (is ) Tj ET Q q 0 0 0 rg BT 495.88 339.70 Td (equal ) Tj ET Q q 0 0 0 rg BT 519.98 339.70 Td (to ) Tj ET Q q 0 0 0 rg BT 530.20 339.70 Td (the ) Tj ET Q q 0 0 0 rg BT 544.85 339.70 Td (sum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 327.70 Td (of ) Tj ET Q q 0 0 0 rg BT 60.94 327.70 Td (the ) Tj ET Q q 0 0 0 rg BT 76.28 327.70 Td (one ) Tj ET Q q 0 0 0 rg BT 93.83 327.70 Td (month ) Tj ET Q q 0 0 0 rg BT 122.50 327.70 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 155.61 327.70 Td (rate ) Tj ET Q q 0 0 0 rg BT 173.71 327.70 Td (plus ) Tj ET Q q 0 0 0 rg BT 193.50 327.70 Td (a ) Tj ET Q q 0 0 0 rg BT 201.05 327.70 Td (mar) Tj ET Q q 0 0 0 rg BT 216.42 327.70 Td (gin ) Tj ET Q q 0 0 0 rg BT 232.31 327.70 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.75 327.70 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.75 327.70 Td ( ) Tj ET Q q 0 0 0 rg BT 261.87 327.70 Td (basis ) Tj ET Q q 0 0 0 rg BT 284.98 327.70 Td (points. ) Tj ET Q q 0 0 0 rg BT 315.04 327.70 Td ( ) Tj ET Q q 0 0 0 rg BT 317.93 327.70 Td (The ) Tj ET Q q 0 0 0 rg BT 336.59 327.70 Td (mar) Tj ET Q q 0 0 0 rg BT 351.96 327.70 Td (gin ) Tj ET Q q 0 0 0 rg BT 367.85 327.70 Td (is ) Tj ET Q q 0 0 0 rg BT 377.64 327.70 Td (subject ) Tj ET Q q 0 0 0 rg BT 409.08 327.70 Td (to ) Tj ET Q q 0 0 0 rg BT 419.97 327.70 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 466.97 327.70 Td (in ) Tj ET Q q 0 0 0 rg BT 477.86 327.70 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 525.41 327.70 Td (quarterly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 315.70 Td (periods ) Tj ET Q q 0 0 0 rg BT 81.44 315.70 Td (based ) Tj ET Q q 0 0 0 rg BT 106.71 315.70 Td (on ) Tj ET Q q 0 0 0 rg BT 119.21 315.70 Td (the ) Tj ET Q q 0 0 0 rg BT 133.92 315.70 Td (Company) Tj ET Q q 0 0 0 rg BT 175.59 315.70 Td (s ) Tj ET Q q 0 0 0 rg BT 181.98 315.70 Td (leverage ) Tj ET Q q 0 0 0 rg BT 218.34 315.70 Td (ratio.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 291.70 Td (Borrowings ) Tj ET Q q 0 0 0 rg BT 99.11 291.70 Td (under ) Tj ET Q q 0 0 0 rg BT 124.27 291.70 Td (the ) Tj ET Q q 0 0 0 rg BT 138.87 291.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 166.26 291.70 Td (Facility ) Tj ET Q q 0 0 0 rg BT 199.20 291.70 Td (constitute ) Tj ET Q q 0 0 0 rg BT 240.47 291.70 Td (senior) Tj ET Q q 0 0 0 rg BT 264.51 291.70 Td (, ) Tj ET Q q 0 0 0 rg BT 269.40 291.70 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 312.32 291.70 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 366.37 291.70 Td (and ) Tj ET Q q 0 0 0 rg BT 383.20 291.70 Td (availability ) Tj ET Q q 0 0 0 rg BT 430.57 291.70 Td (is ) Tj ET Q q 0 0 0 rg BT 439.63 291.70 Td (subject ) Tj ET Q q 0 0 0 rg BT 470.34 291.70 Td (to, ) Tj ET Q q 0 0 0 rg BT 483.01 291.70 Td (among ) Tj ET Q q 0 0 0 rg BT 512.62 291.70 Td (other ) Tj ET Q q 0 0 0 rg BT 535.55 291.70 Td (things, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 279.70 Td (a ) Tj ET Q q 0 0 0 rg BT 56.01 279.70 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 99.73 279.70 Td (base ) Tj ET Q q 0 0 0 rg BT 119.57 279.70 Td (calculated ) Tj ET Q q 0 0 0 rg BT 162.17 279.70 Td (using ) Tj ET Q q 0 0 0 rg BT 185.90 279.70 Td (various ) Tj ET Q q 0 0 0 rg BT 217.41 279.70 Td (advance ) Tj ET Q q 0 0 0 rg BT 252.23 279.70 Td (rates ) Tj ET Q q 0 0 0 rg BT 273.18 279.70 Td (for ) Tj ET Q q 0 0 0 rg BT 286.90 279.70 Td (dif) Tj ET Q q 0 0 0 rg BT 297.83 279.70 Td (ferent ) Tj ET Q q 0 0 0 rg BT 323.22 279.70 Td (categories ) Tj ET Q q 0 0 0 rg BT 365.82 279.70 Td (of ) Tj ET Q q 0 0 0 rg BT 376.21 279.70 Td (inventory) Tj ET Q q 0 0 0 rg BT 413.89 279.70 Td (. ) Tj ET Q q 0 0 0 rg BT 418.46 279.70 Td ( ) Tj ET Q q 0 0 0 rg BT 420.38 279.70 Td (The ) Tj ET Q q 0 0 0 rg BT 437.99 279.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 465.05 279.70 Td (Facility ) Tj ET Q q 0 0 0 rg BT 497.67 279.70 Td (contains ) Tj ET Q q 0 0 0 rg BT 533.07 279.70 Td (various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 267.70 Td (representations, ) Tj ET Q q 0 0 0 rg BT 114.89 267.70 Td (warranties ) Tj ET Q q 0 0 0 rg BT 158.89 267.70 Td (and ) Tj ET Q q 0 0 0 rg BT 175.69 267.70 Td (covenants ) Tj ET Q q 0 0 0 rg BT 218.04 267.70 Td (which ) Tj ET Q q 0 0 0 rg BT 244.83 267.70 Td (require, ) Tj ET Q q 0 0 0 rg BT 278.01 267.70 Td (among ) Tj ET Q q 0 0 0 rg BT 307.58 267.70 Td (other ) Tj ET Q q 0 0 0 rg BT 330.49 267.70 Td (things, ) Tj ET Q q 0 0 0 rg BT 359.79 267.70 Td (that ) Tj ET Q q 0 0 0 rg BT 377.15 267.70 Td (the ) Tj ET Q q 0 0 0 rg BT 391.72 267.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 432.97 267.70 Td (maintain ) Tj ET Q q 0 0 0 rg BT 470.32 267.70 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 484.33 267.70 Td (a ) Tj ET Q q 0 0 0 rg BT 491.13 267.70 Td (minimum ) Tj ET Q q 0 0 0 rg BT 532.38 267.70 Td (level ) Tj ET Q q 0 0 0 rg BT 554.17 267.70 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 255.70 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 105.01 255.70 Td (T) Tj ET Q q 0 0 0 rg BT 110.42 255.70 Td (angible ) Tj ET Q q 0 0 0 rg BT 142.81 255.70 Td (Net ) Tj ET Q q 0 0 0 rg BT 159.98 255.70 Td (W) Tj ET Q q 0 0 0 rg BT 168.62 255.70 Td (orth ) Tj ET Q q 0 0 0 rg BT 187.68 255.70 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.96 255.70 Td ($504.8 ) Tj ET Q q 0 0 0 rg BT 229.42 255.70 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.31 255.70 Td ( ) Tj ET Q q 0 0 0 rg BT 261.26 255.70 Td (\(subject ) Tj ET Q q 0 0 0 rg BT 295.87 255.70 Td (to ) Tj ET Q q 0 0 0 rg BT 306.60 255.70 Td (increase ) Tj ET Q q 0 0 0 rg BT 342.30 255.70 Td (over ) Tj ET Q q 0 0 0 rg BT 363.02 255.70 Td (time ) Tj ET Q q 0 0 0 rg BT 383.75 255.70 Td (based ) Tj ET Q q 0 0 0 rg BT 409.47 255.70 Td (on ) Tj ET Q q 0 0 0 rg BT 422.42 255.70 Td (earnings ) Tj ET Q q 0 0 0 rg BT 459.25 255.70 Td (and ) Tj ET Q q 0 0 0 rg BT 476.64 255.70 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 515.13 255.70 Td (from ) Tj ET Q q 0 0 0 rg BT 537.52 255.70 Td (equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 243.70 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 243.70 Td (ferings\), ) Tj ET Q q 0 0 0 rg BT 93.42 243.70 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 107.26 243.70 Td (a ) Tj ET Q q 0 0 0 rg BT 113.88 243.70 Td (leverage ) Tj ET Q q 0 0 0 rg BT 149.92 243.70 Td (ratio ) Tj ET Q q 0 0 0 rg BT 170.42 243.70 Td (not ) Tj ET Q q 0 0 0 rg BT 185.37 243.70 Td (in ) Tj ET Q q 0 0 0 rg BT 195.33 243.70 Td (excess ) Tj ET Q q 0 0 0 rg BT 223.60 243.70 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.11 243.70 Td (60%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.44 243.70 Td (, ) Tj ET Q q 0 0 0 rg BT 257.12 243.70 Td (and ) Tj ET Q q 0 0 0 rg BT 273.73 243.70 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 287.57 243.70 Td (either ) Tj ET Q q 0 0 0 rg BT 312.51 243.70 Td (a ) Tj ET Q q 0 0 0 rg BT 319.13 243.70 Td (minimum ) Tj ET Q q 0 0 0 rg BT 360.19 243.70 Td (Interest ) Tj ET Q q 0 0 0 rg BT 392.36 243.70 Td (Coverage ) Tj ET Q q 0 0 0 rg BT 432.85 243.70 Td (Ratio ) Tj ET Q q 0 0 0 rg BT 456.69 243.70 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.20 243.70 Td (1.5 ) Tj ET Q q 0 0 0 rg BT 481.87 243.70 Td (to ) Tj ET Q q 0 0 0 rg BT 491.83 243.70 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.33 243.70 Td ( ) Tj ET Q q 0 0 0 rg BT 506.50 243.70 Td (or ) Tj ET Q q 0 0 0 rg BT 517.01 243.70 Td (a ) Tj ET Q q 0 0 0 rg BT 523.63 243.70 Td (minimum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 231.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 82.88 231.70 Td (of ) Tj ET Q q 0 0 0 rg BT 94.60 231.70 Td (available ) Tj ET Q q 0 0 0 rg BT 134.08 231.70 Td (liquidity) Tj ET Q q 0 0 0 rg BT 167.32 231.70 Td (. ) Tj ET Q q 0 0 0 rg BT 173.21 231.70 Td ( ) Tj ET Q q 0 0 0 rg BT 176.59 231.70 Td (In ) Tj ET Q q 0 0 0 rg BT 188.31 231.70 Td (addition, ) Tj ET Q q 0 0 0 rg BT 226.97 231.70 Td (the ) Tj ET Q q 0 0 0 rg BT 242.58 231.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 270.96 231.70 Td (Facility ) Tj ET Q q 0 0 0 rg BT 304.90 231.70 Td (contains ) Tj ET Q q 0 0 0 rg BT 341.61 231.70 Td (covenants ) Tj ET Q q 0 0 0 rg BT 384.99 231.70 Td (that ) Tj ET Q q 0 0 0 rg BT 403.37 231.70 Td (limit ) Tj ET Q q 0 0 0 rg BT 425.65 231.70 Td (the ) Tj ET Q q 0 0 0 rg BT 441.25 231.70 Td (Company) Tj ET Q q 0 0 0 rg BT 482.92 231.70 Td (s ) Tj ET Q q 0 0 0 rg BT 490.20 231.70 Td (number ) Tj ET Q q 0 0 0 rg BT 524.13 231.70 Td (of ) Tj ET Q q 0 0 0 rg BT 535.85 231.70 Td (unsold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 219.70 Td (housing ) Tj ET Q q 0 0 0 rg BT 83.67 219.70 Td (units ) Tj ET Q q 0 0 0 rg BT 105.62 219.70 Td (and ) Tj ET Q q 0 0 0 rg BT 122.56 219.70 Td (model ) Tj ET Q q 0 0 0 rg BT 150.05 219.70 Td (homes, ) Tj ET Q q 0 0 0 rg BT 181.16 219.70 Td (as ) Tj ET Q q 0 0 0 rg BT 191.99 219.70 Td (well ) Tj ET Q q 0 0 0 rg BT 211.71 219.70 Td (as ) Tj ET Q q 0 0 0 rg BT 222.54 219.70 Td (the ) Tj ET Q q 0 0 0 rg BT 237.25 219.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 269.75 219.70 Td (of ) Tj ET Q q 0 0 0 rg BT 280.58 219.70 Td (Investments ) Tj ET Q q 0 0 0 rg BT 331.40 219.70 Td (in ) Tj ET Q q 0 0 0 rg BT 341.68 219.70 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 393.61 219.70 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 444.99 219.70 Td (and ) Tj ET Q q 0 0 0 rg BT 461.93 219.70 Td (Joint ) Tj ET Q q 0 0 0 rg BT 483.70 219.70 Td (V) Tj ET Q q 0 0 0 rg BT 489.81 219.70 Td (entures. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.70 Td (The ) Tj ET Q q 0 0 0 rg BT 67.70 197.70 Td (Company) Tj ET Q q 0 0 0 rg BT 109.37 197.70 Td (s ) Tj ET Q q 0 0 0 rg BT 115.92 197.70 Td (obligations ) Tj ET Q q 0 0 0 rg BT 163.02 197.70 Td (under ) Tj ET Q q 0 0 0 rg BT 188.45 197.70 Td (the ) Tj ET Q q 0 0 0 rg BT 203.32 197.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 230.97 197.70 Td (Facility ) Tj ET Q q 0 0 0 rg BT 264.18 197.70 Td (are ) Tj ET Q q 0 0 0 rg BT 279.05 197.70 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 325.57 197.70 Td (by ) Tj ET Q q 0 0 0 rg BT 338.23 197.70 Td (all ) Tj ET Q q 0 0 0 rg BT 350.88 197.70 Td (of ) Tj ET Q q 0 0 0 rg BT 361.87 197.70 Td (the ) Tj ET Q q 0 0 0 rg BT 376.74 197.70 Td (Company) Tj ET Q q 0 0 0 rg BT 418.41 197.70 Td (s ) Tj ET Q q 0 0 0 rg BT 424.96 197.70 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 477.33 197.70 Td (with ) Tj ET Q q 0 0 0 rg BT 497.77 197.70 Td (the ) Tj ET Q q 0 0 0 rg BT 512.64 197.70 Td (exception ) Tj ET Q q 0 0 0 rg BT 554.17 197.70 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.70 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 98.49 185.70 Td (that ) Tj ET Q q 0 0 0 rg BT 115.25 185.70 Td (are ) Tj ET Q q 0 0 0 rg BT 129.23 185.70 Td (primarily ) Tj ET Q q 0 0 0 rg BT 168.21 185.70 Td (engaged ) Tj ET Q q 0 0 0 rg BT 203.30 185.70 Td (in ) Tj ET Q q 0 0 0 rg BT 212.84 185.70 Td (the ) Tj ET Q q 0 0 0 rg BT 226.83 185.70 Td (business ) Tj ET Q q 0 0 0 rg BT 262.49 185.70 Td (of ) Tj ET Q q 0 0 0 rg BT 272.59 185.70 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 312.13 185.70 Td (financing, ) Tj ET Q q 0 0 0 rg BT 354.16 185.70 Td (title ) Tj ET Q q 0 0 0 rg BT 371.48 185.70 Td (insurance ) Tj ET Q q 0 0 0 rg BT 411.57 185.70 Td (or ) Tj ET Q q 0 0 0 rg BT 421.67 185.70 Td (similar ) Tj ET Q q 0 0 0 rg BT 451.21 185.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 487.96 185.70 Td (businesses ) Tj ET Q q 0 0 0 rg BT 531.95 185.70 Td (relating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.70 Td (to ) Tj ET Q q 0 0 0 rg BT 59.22 173.70 Td (the ) Tj ET Q q 0 0 0 rg BT 73.37 173.70 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 130.86 173.70 Td (and ) Tj ET Q q 0 0 0 rg BT 147.24 173.70 Td (home ) Tj ET Q q 0 0 0 rg BT 171.39 173.70 Td (sales ) Tj ET Q q 0 0 0 rg BT 192.77 173.70 Td (business, ) Tj ET Q q 0 0 0 rg BT 231.09 173.70 Td (certain ) Tj ET Q q 0 0 0 rg BT 260.23 173.70 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 309.39 173.70 Td (that ) Tj ET Q q 0 0 0 rg BT 326.32 173.70 Td (are ) Tj ET Q q 0 0 0 rg BT 340.47 173.70 Td (not ) Tj ET Q q 0 0 0 rg BT 355.18 173.70 Td (100%-owned ) Tj ET Q q 0 0 0 rg BT 410.44 173.70 Td (by ) Tj ET Q q 0 0 0 rg BT 422.38 173.70 Td (the ) Tj ET Q q 0 0 0 rg BT 436.53 173.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 477.36 173.70 Td (or ) Tj ET Q q 0 0 0 rg BT 487.62 173.70 Td (another ) Tj ET Q q 0 0 0 rg BT 519.55 173.70 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 560.00 173.70 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.70 Td (and ) Tj ET Q q 0 0 0 rg BT 66.01 161.70 Td (other ) Tj ET Q q 0 0 0 rg BT 88.63 161.70 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 137.92 161.70 Td (designated ) Tj ET Q q 0 0 0 rg BT 182.76 161.70 Td (by ) Tj ET Q q 0 0 0 rg BT 194.83 161.70 Td (the ) Tj ET Q q 0 0 0 rg BT 209.12 161.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 250.08 161.70 Td (as ) Tj ET Q q 0 0 0 rg BT 260.48 161.70 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 311.98 161.70 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 362.94 161.70 Td (\(as ) Tj ET Q q 0 0 0 rg BT 376.67 161.70 Td (defined ) Tj ET Q q 0 0 0 rg BT 408.73 161.70 Td (in ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 418.57958984375 160.36699218750005 m 450.0908203125 160.36699218750005 l s q 0 0 1 rg BT 418.58 161.70 Td (Note ) Tj ET Q q 0 0 1 rg BT 440.09 161.70 Td (12) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 450.09 161.70 Td ( ) Tj ET Q q 0 0 0 rg BT 452.16 161.70 Td (to ) Tj ET Q q 0 0 0 rg BT 462.01 161.70 Td (our ) Tj ET Q q 0 0 0 rg BT 477.42 161.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 514.47 161.70 Td (statements\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.70 Td (subject ) Tj ET Q q 0 0 0 rg BT 80.37 149.70 Td (to ) Tj ET Q q 0 0 0 rg BT 90.69 149.70 Td (limitations ) Tj ET Q q 0 0 0 rg BT 136.02 149.70 Td (on ) Tj ET Q q 0 0 0 rg BT 148.56 149.70 Td (the ) Tj ET Q q 0 0 0 rg BT 163.33 149.70 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 204.73 149.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 237.27 149.70 Td (invested ) Tj ET Q q 0 0 0 rg BT 273.14 149.70 Td (in ) Tj ET Q q 0 0 0 rg BT 283.47 149.70 Td (such ) Tj ET Q q 0 0 0 rg BT 304.34 149.70 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 356.31 149.70 Td (Subsidiaries. ) Tj ET Q q 0 0 0 rg BT 410.25 149.70 Td ( ) Tj ET Q q 0 0 0 rg BT 412.61 149.70 Td (The ) Tj ET Q q 0 0 0 rg BT 430.70 149.70 Td (guarantors ) Tj ET Q q 0 0 0 rg BT 475.45 149.70 Td (for ) Tj ET Q q 0 0 0 rg BT 489.66 149.70 Td (the ) Tj ET Q q 0 0 0 rg BT 504.42 149.70 Td (Credit ) Tj ET Q q 0 0 0 rg BT 531.96 149.70 Td (Facility ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.70 Td (are ) Tj ET Q q 0 0 0 rg BT 63.53 137.70 Td (the ) Tj ET Q q 0 0 0 rg BT 77.58 137.70 Td (same ) Tj ET Q q 0 0 0 rg BT 99.95 137.70 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 148.99 137.70 Td (that ) Tj ET Q q 0 0 0 rg BT 165.81 137.70 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 206.50 137.70 Td (our ) Tj ET Q q 0 0 0 rg BT 221.66 137.70 Td (2025 ) Tj ET Q q 0 0 0 rg BT 243.48 137.70 Td (Senior ) Tj ET Q q 0 0 0 rg BT 271.42 137.70 Td (Notes ) Tj ET Q q 0 0 0 rg BT 296.58 137.70 Td (and ) Tj ET Q q 0 0 0 rg BT 312.84 137.70 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 137.70 Td ($300.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.89 137.70 Td ( ) Tj ET Q q 0 0 0 rg BT 388.71 137.70 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 429.40 137.70 Td (principal ) Tj ET Q q 0 0 0 rg BT 466.77 137.70 Td (amount ) Tj ET Q q 0 0 0 rg BT 498.59 137.70 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.75 137.70 Td (6.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.58 137.70 Td ( ) Tj ET Q q 0 0 0 rg BT 536.40 137.70 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.70 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.33 125.70 Td (due ) Tj ET Q q 0 0 0 rg BT 92.27 125.70 Td (2021 ) Tj ET Q q 0 0 0 rg BT 114.77 125.70 Td (\(the ) Tj ET Q q 0 0 0 rg BT 132.82 125.70 Td (2021 ) Tj ET Q q 0 0 0 rg BT 159.75 125.70 Td (Senior ) Tj ET Q q 0 0 0 rg BT 188.36 125.70 Td (Notes\).) Tj ET Q endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (As ) Tj ET Q q 0 0 0 rg BT 62.76 740.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.25 740.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 108.73 740.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.73 740.10 Td (, ) Tj ET Q q 0 0 0 rg BT 133.38 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 147.74 740.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 188.78 740.10 Td (was ) Tj ET Q q 0 0 0 rg BT 206.48 740.10 Td (in ) Tj ET Q q 0 0 0 rg BT 216.41 740.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 264.65 740.10 Td (with ) Tj ET Q q 0 0 0 rg BT 284.58 740.10 Td (all ) Tj ET Q q 0 0 0 rg BT 296.73 740.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 338.87 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 349.35 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 363.71 740.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 390.86 740.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 420.76 740.10 Td (, ) Tj ET Q q 0 0 0 rg BT 425.41 740.10 Td (including ) Tj ET Q q 0 0 0 rg BT 465.34 740.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 502.47 740.10 Td (covenants. ) Tj ET Q q 0 0 0 rg BT 546.95 740.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (following ) Tj ET Q q 0 0 0 rg BT 90.49 728.10 Td (table ) Tj ET Q q 0 0 0 rg BT 112.03 728.10 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 161.90 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.22 728.10 Td (most ) Tj ET Q q 0 0 0 rg BT 197.78 728.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 242.10 728.10 Td (restrictive ) Tj ET Q q 0 0 0 rg BT 284.18 728.10 Td (covenant ) Tj ET Q q 0 0 0 rg BT 322.38 728.10 Td (thresholds ) Tj ET Q q 0 0 0 rg BT 365.60 728.10 Td (under ) Tj ET Q q 0 0 0 rg BT 390.47 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 404.79 728.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 431.90 728.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 464.55 728.10 Td (and ) Tj ET Q q 0 0 0 rg BT 481.10 728.10 Td (our ) Tj ET Q q 0 0 0 rg BT 496.53 728.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 544.73 728.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (such ) Tj ET Q q 0 0 0 rg BT 70.33 716.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 112.82 716.10 Td (as ) Tj ET Q q 0 0 0 rg BT 123.65 716.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.48 716.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 170.31 716.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.31 716.10 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 687.6 m 398 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 687.6 m 421 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 687.6 m 487 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 687.6 m 496 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 687.6 m 562 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 687.6 m 398 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 687.6 m 421 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 687.6 m 487 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 687.6 m 496 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 687.6 m 562 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 615.6 m 398 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 615.6 m 421 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 615.6 m 487 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 615.6 m 496 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 615.6 m 562 615.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.75 691.85 Td (Financial Covenant) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.15 697.55 Td (Covenant) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.80 689.60 Td (Requirement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.80 691.85 Td (Actual) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.30 679.55 Td ( \(Dollars in millions\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 667.55 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 95.65 667.55 Td (T) Tj ET Q q 0 0 0 rg BT 100.18 667.55 Td (angible ) Tj ET Q q 0 0 0 rg BT 125.45 667.55 Td (Net ) Tj ET Q q 0 0 0 rg BT 138.93 667.55 Td (W) Tj ET Q q 0 0 0 rg BT 146.09 667.55 Td (orth) Tj ET Q /GS0 gs q 4.39 0 0 7.27 406.80 665.83 cm /I5 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.50 667.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.80 667.55 Td (504.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.50 667.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 667.55 Td (768.9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 655.55 Td (Leverage ) Tj ET Q q 0 0 0 rg BT 83.25 655.55 Td (Ratio) Tj ET Q /GS0 gs q 4.39 0 0 7.27 406.80 653.83 cm /I6 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.50 655.55 Td (0.60) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.50 655.55 Td (0.48) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 643.55 Td (Interest ) Tj ET Q q 0 0 0 rg BT 77.49 643.55 Td (Coverage ) Tj ET Q q 0 0 0 rg BT 110.14 643.55 Td (Ratio) Tj ET Q /GS0 gs q 4.39 0 0 7.27 406.80 641.83 cm /I7 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.25 643.55 Td (1.5 to 1.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.25 643.55 Td (4.6 to 1.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 631.55 Td (Investments ) Tj ET Q q 0 0 0 rg BT 92.16 631.55 Td (in ) Tj ET Q q 0 0 0 rg BT 100.38 631.55 Td (Unrestricted ) Tj ET Q q 0 0 0 rg BT 141.92 631.55 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 183.03 631.55 Td (and ) Tj ET Q q 0 0 0 rg BT 196.58 631.55 Td (Joint ) Tj ET Q q 0 0 0 rg BT 214.07 631.55 Td (V) Tj ET Q q 0 0 0 rg BT 219.33 631.55 Td (entures) Tj ET Q /GS0 gs q 4.39 0 0 7.27 406.80 629.83 cm /I8 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.50 631.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.80 631.55 Td (230.7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.50 631.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.80 631.55 Td (2.6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 619.55 Td (Unsold ) Tj ET Q q 0 0 0 rg BT 76.61 619.55 Td (Housing ) Tj ET Q q 0 0 0 rg BT 105.73 619.55 Td (Units ) Tj ET Q q 0 0 0 rg BT 125.06 619.55 Td (and ) Tj ET Q q 0 0 0 rg BT 138.61 619.55 Td (Model ) Tj ET Q q 0 0 0 rg BT 161.50 619.55 Td (Homes) Tj ET Q /GS0 gs q 4.39 0 0 7.27 406.80 617.83 cm /I9 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.80 619.55 Td (1,880) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 619.55 Td (1,074) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 592.10 Td (Homebuilding ) Tj ET Q q 0 0 0 rg BT 112.01 592.10 Td (Letter ) Tj ET Q q 0 0 0 rg BT 139.50 592.10 Td (of ) Tj ET Q q 0 0 0 rg BT 150.88 592.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 179.50 592.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 210.79 592.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.29 592.10 Td ( ) Tj ET Q q 0 0 0 rg BT 216.34 592.10 Td ( ) Tj ET Q q 0 0 0 rg BT 218.72 592.10 Td (As ) Tj ET Q q 0 0 0 rg BT 232.89 592.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.28 592.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 280.66 592.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.66 592.10 Td (, ) Tj ET Q q 0 0 0 rg BT 306.22 592.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.49 592.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 363.43 592.10 Td (was ) Tj ET Q q 0 0 0 rg BT 382.04 592.10 Td (a ) Tj ET Q q 0 0 0 rg BT 389.53 592.10 Td (party ) Tj ET Q q 0 0 0 rg BT 413.14 592.10 Td (to ) Tj ET Q q 0 0 0 rg BT 423.97 592.10 Td (a ) Tj ET Q q 0 0 0 rg BT 431.46 592.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 465.06 592.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 490.88 592.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 535.57 592.10 Td (for ) Tj ET Q q 0 0 0 rg BT 550.29 592.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 580.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 86.05 580.10 Td (of ) Tj ET Q q 0 0 0 rg BT 97.05 580.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 124.16 580.10 Td (of ) Tj ET Q q 0 0 0 rg BT 135.16 580.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 160.60 580.10 Td (outside ) Tj ET Q q 0 0 0 rg BT 192.16 580.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.16 580.10 Td (the ) Tj ET Q q 0 0 0 rg BT 218.05 580.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 245.71 580.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 278.94 580.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 297.16 580.10 Td (Letter ) Tj ET Q q 0 0 0 rg BT 328.14 580.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.14 580.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 366.81 580.10 Td (Facility\), ) Tj ET Q q 0 0 0 rg BT 410.30 580.10 Td (with ) Tj ET Q q 0 0 0 rg BT 430.75 580.10 Td (a ) Tj ET Q q 0 0 0 rg BT 437.86 580.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 474.42 580.10 Td (date ) Tj ET Q q 0 0 0 rg BT 493.75 580.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.75 580.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 568.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 568.10 Td (, ) Tj ET Q q 0 0 0 rg BT 74.50 568.10 Td (which ) Tj ET Q q 0 0 0 rg BT 101.44 568.10 Td (allows ) Tj ET Q q 0 0 0 rg BT 130.05 568.10 Td (for ) Tj ET Q q 0 0 0 rg BT 144.21 568.10 Td (the ) Tj ET Q q 0 0 0 rg BT 158.92 568.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 195.30 568.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.13 568.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 233.06 568.10 Td (of ) Tj ET Q q 0 0 0 rg BT 243.89 568.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 269.16 568.10 Td (up ) Tj ET Q q 0 0 0 rg BT 281.66 568.10 Td (to ) Tj ET Q q 0 0 0 rg BT 291.94 568.10 Td (a ) Tj ET Q q 0 0 0 rg BT 298.88 568.10 Td (total ) Tj ET Q q 0 0 0 rg BT 319.15 568.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.98 568.10 Td ($1.0 ) Tj ET Q q 0 0 0 rg BT 349.98 568.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.87 568.10 Td (. ) Tj ET Q q 0 0 0 rg BT 383.87 568.10 Td ( ) Tj ET Q q 0 0 0 rg BT 386.19 568.10 Td (The ) Tj ET Q q 0 0 0 rg BT 404.24 568.10 Td (Letter ) Tj ET Q q 0 0 0 rg BT 430.61 568.10 Td (of ) Tj ET Q q 0 0 0 rg BT 441.44 568.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 468.93 568.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 501.99 568.10 Td (contains ) Tj ET Q q 0 0 0 rg BT 537.81 568.10 Td (a ) Tj ET Q q 0 0 0 rg BT 544.75 568.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 556.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 88.86 556.10 Td (requirement ) Tj ET Q q 0 0 0 rg BT 139.34 556.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.84 556.10 Td (101%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.17 556.10 Td (. ) Tj ET Q q 0 0 0 rg BT 177.84 556.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.00 556.10 Td (Upon ) Tj ET Q q 0 0 0 rg BT 204.39 556.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 240.44 556.10 Td (or ) Tj ET Q q 0 0 0 rg BT 250.94 556.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.32 556.10 Td (earlier ) Tj ET Q q 0 0 0 rg BT 293.02 556.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 341.29 556.10 Td (of ) Tj ET Q q 0 0 0 rg BT 351.78 556.10 Td (the ) Tj ET Q q 0 0 0 rg BT 366.17 556.10 Td (Letter ) Tj ET Q q 0 0 0 rg BT 392.21 556.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.70 556.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 429.87 556.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 459.77 556.10 Td (, ) Tj ET Q q 0 0 0 rg BT 464.43 556.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 491.04 556.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.53 556.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 526.46 556.10 Td (that ) Tj ET Q q 0 0 0 rg BT 543.63 556.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 544.10 Td (been ) Tj ET Q q 0 0 0 rg BT 70.88 544.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 98.38 544.10 Td (under ) Tj ET Q q 0 0 0 rg BT 123.65 544.10 Td (the ) Tj ET Q q 0 0 0 rg BT 138.36 544.10 Td (Letter ) Tj ET Q q 0 0 0 rg BT 164.73 544.10 Td (of ) Tj ET Q q 0 0 0 rg BT 175.56 544.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 203.06 544.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 236.11 544.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 266.38 544.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 315.54 544.10 Td (with ) Tj ET Q q 0 0 0 rg BT 335.82 544.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 356.09 544.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 395.78 544.10 Td (in ) Tj ET Q q 0 0 0 rg BT 406.06 544.10 Td (place ) Tj ET Q q 0 0 0 rg BT 429.66 544.10 Td (through ) Tj ET Q q 0 0 0 rg BT 463.26 544.10 Td (the ) Tj ET Q q 0 0 0 rg BT 477.98 544.10 Td (expiration ) Tj ET Q q 0 0 0 rg BT 521.02 544.10 Td (date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.77 520.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.25 520.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 111.73 520.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.73 520.10 Td (, ) Tj ET Q q 0 0 0 rg BT 137.38 520.10 Td (there ) Tj ET Q q 0 0 0 rg BT 160.52 520.10 Td (was ) Tj ET Q q 0 0 0 rg BT 179.22 520.10 Td (a ) Tj ET Q q 0 0 0 rg BT 186.81 520.10 Td (total ) Tj ET Q q 0 0 0 rg BT 207.74 520.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.22 520.10 Td ($0.2million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.11 520.10 Td ( ) Tj ET Q q 0 0 0 rg BT 271.26 520.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.74 520.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 310.33 520.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.81 520.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 347.73 520.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 375.88 520.10 Td (under ) Tj ET Q q 0 0 0 rg BT 401.80 520.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.17 520.10 Td (Letter ) Tj ET Q q 0 0 0 rg BT 444.19 520.10 Td (of ) Tj ET Q q 0 0 0 rg BT 455.67 520.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 483.82 520.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 513.72 520.10 Td (, ) Tj ET Q q 0 0 0 rg BT 519.38 520.10 Td (which ) Tj ET Q q 0 0 0 rg BT 546.97 520.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.10 Td (collateralized ) Tj ET Q q 0 0 0 rg BT 106.69 508.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.81 508.10 Td ($0.2 ) Tj ET Q q 0 0 0 rg BT 148.64 508.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.53 508.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.87 508.10 Td (of ) Tj ET Q q 0 0 0 rg BT 192.54 508.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 233.08 508.10 Td (cash. ) Tj ET Q q 0 0 0 rg BT 256.69 508.10 Td ( ) Tj ET Q q 0 0 0 rg BT 260.02 508.10 Td (In ) Tj ET Q q 0 0 0 rg BT 271.69 508.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 318.90 508.10 Td (with ) Tj ET Q q 0 0 0 rg BT 340.02 508.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.57 508.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 402.79 508.10 Td (of ) Tj ET Q q 0 0 0 rg BT 414.46 508.10 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 452.23 508.10 Td (Homes ) Tj ET Q q 0 0 0 rg BT 483.89 508.10 Td (in ) Tj ET Q q 0 0 0 rg BT 495.01 508.10 Td (March ) Tj ET Q q 0 0 0 rg BT 524.45 508.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 550.28 508.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 90.26 496.10 Td (assumed ) Tj ET Q q 0 0 0 rg BT 126.57 496.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.66 496.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 183.09 496.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.62 496.10 Td ($6.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.52 496.10 Td ( ) Tj ET Q q 0 0 0 rg BT 247.39 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.59 496.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 306.13 496.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 332.44 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 342.64 496.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 367.28 496.10 Td (under ) Tj ET Q q 0 0 0 rg BT 391.92 496.10 Td (a ) Tj ET Q q 0 0 0 rg BT 398.24 496.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 432.87 496.10 Td (facility) Tj ET Q q 0 0 0 rg BT 460.54 496.10 Td (, ) Tj ET Q q 0 0 0 rg BT 464.91 496.10 Td (which ) Tj ET Q q 0 0 0 rg BT 491.22 496.10 Td (was ) Tj ET Q q 0 0 0 rg BT 508.65 496.10 Td (collateralized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 484.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.46 484.10 Td ($6.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.35 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.53 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.03 484.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 174.41 484.10 Td (cash. ) Tj ET Q q 0 0 0 rg BT 197.86 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 201.04 484.10 Td (During ) Tj ET Q q 0 0 0 rg BT 232.54 484.10 Td (the ) Tj ET Q q 0 0 0 rg BT 247.94 484.10 Td (second ) Tj ET Q q 0 0 0 rg BT 278.89 484.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 310.38 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.89 484.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 347.56 484.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.96 484.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 405.02 484.10 Td (terminated ) Tj ET Q q 0 0 0 rg BT 450.96 484.10 Td (this ) Tj ET Q q 0 0 0 rg BT 468.59 484.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 504.52 484.10 Td (letter ) Tj ET Q q 0 0 0 rg BT 528.24 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 539.75 484.10 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 472.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 80.89 472.10 Td (and ) Tj ET Q q 0 0 0 rg BT 98.39 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.67 472.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 163.41 472.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 190.91 472.10 Td (of ) Tj ET Q q 0 0 0 rg BT 202.30 472.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 228.13 472.10 Td (under ) Tj ET Q q 0 0 0 rg BT 253.97 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 269.25 472.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 300.64 472.10 Td (were ) Tj ET Q q 0 0 0 rg BT 323.13 472.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 369.50 472.10 Td (to ) Tj ET Q q 0 0 0 rg BT 380.35 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 395.63 472.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 423.69 472.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 453.60 472.10 Td (, ) Tj ET Q q 0 0 0 rg BT 459.16 472.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 497.22 472.10 Td (in ) Tj ET Q q 0 0 0 rg BT 508.07 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.35 472.10 Td (release ) Tj ET Q q 0 0 0 rg BT 554.17 472.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 460.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.76 460.10 Td ($6.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.65 460.10 Td ( ) Tj ET Q q 0 0 0 rg BT 161.15 460.10 Td (of ) Tj ET Q q 0 0 0 rg BT 171.98 460.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 211.68 460.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 231.95 460.10 Td (which ) Tj ET Q q 0 0 0 rg BT 258.89 460.10 Td (collateralized ) Tj ET Q q 0 0 0 rg BT 315.24 460.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.96 460.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 365.21 460.10 Td (facility) Tj ET Q q 0 0 0 rg BT 392.88 460.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 436.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.88 436.10 Td (Payable ) Tj ET Q q 0 0 0 rg BT 112.27 436.10 Td (- ) Tj ET Q q 0 0 0 rg BT 118.10 436.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 160.60 436.10 Td (Services.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 412.10 Td (MIF) Tj ET Q q 0 0 0 rg BT 68.77 412.10 Td ( ) Tj ET Q q 0 0 0 rg BT 72.11 412.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 115.22 412.10 Td (W) Tj ET Q q 0 0 0 rg BT 123.36 412.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 172.90 412.10 Td (Agreement.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.39 412.10 Td ( ) Tj ET Q q 0 0 0 rg BT 223.73 412.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.08 412.10 Td (The ) Tj ET Q q 0 0 0 rg BT 245.96 412.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 267.09 412.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 309.07 412.10 Td (W) Tj ET Q q 0 0 0 rg BT 317.71 412.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 364.19 412.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 411.95 412.10 Td (is ) Tj ET Q q 0 0 0 rg BT 421.96 412.10 Td (used ) Tj ET Q q 0 0 0 rg BT 443.64 412.10 Td (to ) Tj ET Q q 0 0 0 rg BT 454.76 412.10 Td (finance ) Tj ET Q q 0 0 0 rg BT 487.52 412.10 Td (eligible ) Tj ET Q q 0 0 0 rg BT 520.86 412.10 Td (residential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 400.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 91.27 400.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 116.39 400.10 Td (originated ) Tj ET Q q 0 0 0 rg BT 160.93 400.10 Td (by ) Tj ET Q q 0 0 0 rg BT 174.94 400.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 193.95 400.10 Td (Financial. ) Tj ET Q q 0 0 0 rg BT 237.67 400.10 Td ( ) Tj ET Q q 0 0 0 rg BT 241.38 400.10 Td (The ) Tj ET Q q 0 0 0 rg BT 260.94 400.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 282.73 400.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 325.32 400.10 Td (W) Tj ET Q q 0 0 0 rg BT 333.96 400.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 380.96 400.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 429.39 400.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 467.84 400.10 Td (a ) Tj ET Q q 0 0 0 rg BT 476.28 400.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 520.84 400.10 Td (borrowing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 388.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 96.23 388.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.30 388.10 Td ($125 ) Tj ET Q q 0 0 0 rg BT 128.04 388.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.94 388.10 Td (. ) Tj ET Q q 0 0 0 rg BT 161.18 388.10 Td (In ) Tj ET Q q 0 0 0 rg BT 171.25 388.10 Td (June ) Tj ET Q q 0 0 0 rg BT 191.33 388.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 215.57 388.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.53 388.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 270.16 388.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 301.33 388.10 Td (into ) Tj ET Q q 0 0 0 rg BT 318.63 388.10 Td (an ) Tj ET Q q 0 0 0 rg BT 329.81 388.10 Td (amendment ) Tj ET Q q 0 0 0 rg BT 378.20 388.10 Td (to ) Tj ET Q q 0 0 0 rg BT 387.72 388.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.68 388.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 421.21 388.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 461.70 388.10 Td (W) Tj ET Q q 0 0 0 rg BT 470.34 388.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 515.58 388.10 Td (Agreement, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 376.10 Td (which, ) Tj ET Q q 0 0 0 rg BT 78.89 376.10 Td (among ) Tj ET Q q 0 0 0 rg BT 108.57 376.10 Td (other ) Tj ET Q q 0 0 0 rg BT 131.57 376.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 160.97 376.10 Td (extended ) Tj ET Q q 0 0 0 rg BT 199.52 376.10 Td (the ) Tj ET Q q 0 0 0 rg BT 214.19 376.10 Td (expiration ) Tj ET Q q 0 0 0 rg BT 257.19 376.10 Td (date ) Tj ET Q q 0 0 0 rg BT 276.30 376.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.53 376.10 Td (June ) Tj ET Q q 0 0 0 rg BT 307.32 376.10 Td (21, ) Tj ET Q q 0 0 0 rg BT 322.27 376.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.27 376.10 Td ( ) Tj ET Q q 0 0 0 rg BT 344.73 376.10 Td (and ) Tj ET Q q 0 0 0 rg BT 361.62 376.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 397.40 376.10 Td (the ) Tj ET Q q 0 0 0 rg BT 412.07 376.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 443.96 376.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 461.40 376.10 Td (to ) Tj ET Q q 0 0 0 rg BT 471.64 376.10 Td (a ) Tj ET Q q 0 0 0 rg BT 478.53 376.10 Td (per ) Tj ET Q q 0 0 0 rg BT 493.75 376.10 Td (annum ) Tj ET Q q 0 0 0 rg BT 523.42 376.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 540.87 376.10 Td (equal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 364.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.08 364.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.10 364.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 105.65 364.10 Td (of ) Tj ET Q q 0 0 0 rg BT 116.79 364.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 131.25 364.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.27 364.10 Td (floating ) Tj ET Q q 0 0 0 rg BT 180.17 364.10 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 212.97 364.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 230.76 364.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 250.23 364.10 Td (a ) Tj ET Q q 0 0 0 rg BT 257.47 364.10 Td (spread ) Tj ET Q q 0 0 0 rg BT 286.37 364.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.50 364.10 Td (200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 364.10 Td ( ) Tj ET Q q 0 0 0 rg BT 315.31 364.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 338.11 364.10 Td (points ) Tj ET Q q 0 0 0 rg BT 365.36 364.10 Td (and ) Tj ET Q q 0 0 0 rg BT 382.60 364.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.06 364.10 Td (2.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.89 364.10 Td (. ) Tj ET Q q 0 0 0 rg BT 428.19 364.10 Td ( ) Tj ET Q q 0 0 0 rg BT 430.79 364.10 Td (The ) Tj ET Q q 0 0 0 rg BT 449.14 364.10 Td (spread ) Tj ET Q q 0 0 0 rg BT 478.04 364.10 Td (over ) Tj ET Q q 0 0 0 rg BT 498.61 364.10 Td (floating ) Tj ET Q q 0 0 0 rg BT 532.52 364.10 Td (LIBOR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 352.10 Td (had ) Tj ET Q q 0 0 0 rg BT 67.37 352.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 113.01 352.10 Td (been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.32 352.10 Td (237.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.82 352.10 Td ( ) Tj ET Q q 0 0 0 rg BT 161.24 352.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 184.67 352.10 Td (points. ) Tj ET Q q 0 0 0 rg BT 215.05 352.10 Td ( ) Tj ET Q q 0 0 0 rg BT 218.23 352.10 Td (The ) Tj ET Q q 0 0 0 rg BT 237.20 352.10 Td (amendment ) Tj ET Q q 0 0 0 rg BT 287.28 352.10 Td (also ) Tj ET Q q 0 0 0 rg BT 306.82 352.10 Td (allows ) Tj ET Q q 0 0 0 rg BT 336.35 352.10 Td (the ) Tj ET Q q 0 0 0 rg BT 352.00 352.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 395.98 352.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 441.06 352.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 489.48 352.10 Td (to ) Tj ET Q q 0 0 0 rg BT 500.68 352.10 Td (be ) Tj ET Q q 0 0 0 rg BT 513.55 352.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 554.73 352.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.10 Td ($160million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.89 340.10 Td ( ) Tj ET Q q 0 0 0 rg BT 103.81 340.10 Td (during ) Tj ET Q q 0 0 0 rg BT 132.83 340.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 162.94 340.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 195.30 340.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.54 340.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 244.99 340.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 284.55 340.10 Td (in ) Tj ET Q q 0 0 0 rg BT 295.24 340.10 Td (the ) Tj ET Q q 0 0 0 rg BT 310.37 340.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 343.28 340.10 Td (of ) Tj ET Q q 0 0 0 rg BT 354.52 340.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 395.20 340.10 Td (originations, ) Tj ET Q q 0 0 0 rg BT 448.39 340.10 Td (specifically ) Tj ET Q q 0 0 0 rg BT 497.39 340.10 Td (from ) Tj ET Q q 0 0 0 rg BT 519.74 340.10 Td (September ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 328.10 Td (25, ) Tj ET Q q 0 0 0 rg BT 64.50 328.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 87.00 328.10 Td (to ) Tj ET Q q 0 0 0 rg BT 97.28 328.10 Td (October ) Tj ET Q q 0 0 0 rg BT 131.99 328.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 146.99 328.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 169.49 328.10 Td (and ) Tj ET Q q 0 0 0 rg BT 186.42 328.10 Td (from ) Tj ET Q q 0 0 0 rg BT 208.36 328.10 Td (November ) Tj ET Q q 0 0 0 rg BT 253.07 328.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 268.07 328.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 290.57 328.10 Td (to ) Tj ET Q q 0 0 0 rg BT 300.85 328.10 Td (February ) Tj ET Q q 0 0 0 rg BT 339.45 328.10 Td (4, ) Tj ET Q q 0 0 0 rg BT 349.45 328.10 Td (2019.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.54 306.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 89.82 306.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 131.94 306.10 Td (W) Tj ET Q q 0 0 0 rg BT 140.58 306.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 187.18 306.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 235.10 306.10 Td (is ) Tj ET Q q 0 0 0 rg BT 245.27 306.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 279.30 306.10 Td (by ) Tj ET Q q 0 0 0 rg BT 292.80 306.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 323.50 306.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 364.76 306.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 389.36 306.10 Td (originated ) Tj ET Q q 0 0 0 rg BT 433.40 306.10 Td (by ) Tj ET Q q 0 0 0 rg BT 446.89 306.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 465.39 306.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 506.10 306.10 Td (that ) Tj ET Q q 0 0 0 rg BT 524.59 306.10 Td (are ) Tj ET Q q 0 0 0 rg BT 540.29 306.10 Td (being ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.10 Td (warehoused ) Tj ET Q q 0 0 0 rg BT 109.37 294.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 132.04 294.10 Td (to ) Tj ET Q q 0 0 0 rg BT 143.05 294.10 Td (their ) Tj ET Q q 0 0 0 rg BT 164.61 294.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 183.39 294.10 Td (to ) Tj ET Q q 0 0 0 rg BT 194.40 294.10 Td (investors. ) Tj ET Q q 0 0 0 rg BT 236.24 294.10 Td ( ) Tj ET Q q 0 0 0 rg BT 239.24 294.10 Td (The ) Tj ET Q q 0 0 0 rg BT 258.02 294.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 279.03 294.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 320.91 294.10 Td (W) Tj ET Q q 0 0 0 rg BT 329.55 294.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 375.94 294.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 423.60 294.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 461.27 294.10 Td (for ) Tj ET Q q 0 0 0 rg BT 476.16 294.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 502.18 294.10 Td (with ) Tj ET Q q 0 0 0 rg BT 523.19 294.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 554.74 294.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 79.21 282.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 98.94 282.10 Td (types ) Tj ET Q q 0 0 0 rg BT 122.56 282.10 Td (that ) Tj ET Q q 0 0 0 rg BT 140.06 282.10 Td (can ) Tj ET Q q 0 0 0 rg BT 156.45 282.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 184.50 282.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 233.67 282.10 Td (borrowings. ) Tj ET Q q 0 0 0 rg BT 284.23 282.10 Td ( ) Tj ET Q q 0 0 0 rg BT 286.56 282.10 Td (There ) Tj ET Q q 0 0 0 rg BT 312.39 282.10 Td (are ) Tj ET Q q 0 0 0 rg BT 327.10 282.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 365.71 282.10 Td (no ) Tj ET Q q 0 0 0 rg BT 378.22 282.10 Td (guarantors ) Tj ET Q q 0 0 0 rg BT 422.93 282.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.77 282.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.50 282.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 468.79 282.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 510.00 282.10 Td (W) Tj ET Q q 0 0 0 rg BT 518.63 282.10 Td (arehousing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 98.24 270.10 Td (although ) Tj ET Q q 0 0 0 rg BT 135.05 270.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 151.86 270.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 190.89 270.10 Td (may) Tj ET Q q 0 0 0 rg BT 207.45 270.10 Td (, ) Tj ET Q q 0 0 0 rg BT 211.77 270.10 Td (at ) Tj ET Q q 0 0 0 rg BT 220.80 270.10 Td (its ) Tj ET Q q 0 0 0 rg BT 232.06 270.10 Td (election, ) Tj ET Q q 0 0 0 rg BT 268.03 270.10 Td (designate ) Tj ET Q q 0 0 0 rg BT 307.60 270.10 Td (from ) Tj ET Q q 0 0 0 rg BT 328.86 270.10 Td (time ) Tj ET Q q 0 0 0 rg BT 348.44 270.10 Td (to ) Tj ET Q q 0 0 0 rg BT 358.04 270.10 Td (time ) Tj ET Q q 0 0 0 rg BT 377.62 270.10 Td (any ) Tj ET Q q 0 0 0 rg BT 393.88 270.10 Td (one ) Tj ET Q q 0 0 0 rg BT 410.13 270.10 Td (or ) Tj ET Q q 0 0 0 rg BT 420.27 270.10 Td (more ) Tj ET Q q 0 0 0 rg BT 442.63 270.10 Td (of ) Tj ET Q q 0 0 0 rg BT 452.78 270.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 469.59 270.10 Td (Financial) Tj ET Q q 0 0 0 rg BT 509.58 270.10 Td (s ) Tj ET Q q 0 0 0 rg BT 515.29 270.10 Td (subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.10 Td (as ) Tj ET Q q 0 0 0 rg BT 60.33 258.10 Td (guarantors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.54 236.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.80 236.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 111.06 236.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.06 236.10 Td (, ) Tj ET Q q 0 0 0 rg BT 136.48 236.10 Td (there ) Tj ET Q q 0 0 0 rg BT 159.40 236.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.87 236.10 Td ($67.7 ) Tj ET Q q 0 0 0 rg BT 203.30 236.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.19 236.10 Td ( ) Tj ET Q q 0 0 0 rg BT 235.12 236.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 284.71 236.10 Td (under ) Tj ET Q q 0 0 0 rg BT 310.41 236.10 Td (the ) Tj ET Q q 0 0 0 rg BT 325.55 236.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 346.26 236.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 387.86 236.10 Td (W) Tj ET Q q 0 0 0 rg BT 396.49 236.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 442.65 236.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 490.00 236.10 Td (and ) Tj ET Q q 0 0 0 rg BT 507.37 236.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 525.30 236.10 Td (Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (was ) Tj ET Q q 0 0 0 rg BT 66.61 224.10 Td (in ) Tj ET Q q 0 0 0 rg BT 75.94 224.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 123.58 224.10 Td (with ) Tj ET Q q 0 0 0 rg BT 142.91 224.10 Td (all ) Tj ET Q q 0 0 0 rg BT 154.46 224.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 196.00 224.10 Td (thereunder) Tj ET Q q 0 0 0 rg BT 238.21 224.10 Td (. ) Tj ET Q q 0 0 0 rg BT 242.26 224.10 Td ( ) Tj ET Q q 0 0 0 rg BT 243.70 224.10 Td (The ) Tj ET Q q 0 0 0 rg BT 260.80 224.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 297.34 224.10 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 341.38 224.10 Td (as ) Tj ET Q q 0 0 0 rg BT 351.26 224.10 Td (more ) Tj ET Q q 0 0 0 rg BT 373.36 224.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 393.80 224.10 Td (described ) Tj ET Q q 0 0 0 rg BT 433.67 224.10 Td (and ) Tj ET Q q 0 0 0 rg BT 449.67 224.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 481.20 224.10 Td (in ) Tj ET Q q 0 0 0 rg BT 490.54 224.10 Td (the ) Tj ET Q q 0 0 0 rg BT 504.31 224.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 523.65 224.10 Td (Mortgage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 212.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 104.76 212.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 155.21 212.10 Td (are ) Tj ET Q q 0 0 0 rg BT 170.94 212.10 Td (summarized ) Tj ET Q q 0 0 0 rg BT 223.34 212.10 Td (in ) Tj ET Q q 0 0 0 rg BT 234.64 212.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.38 212.10 Td (following ) Tj ET Q q 0 0 0 rg BT 292.79 212.10 Td (table, ) Tj ET Q q 0 0 0 rg BT 318.25 212.10 Td (which ) Tj ET Q q 0 0 0 rg BT 346.21 212.10 Td (also ) Tj ET Q q 0 0 0 rg BT 365.85 212.10 Td (sets ) Tj ET Q q 0 0 0 rg BT 384.37 212.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 407.33 212.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 425.86 212.10 Td (Financial) Tj ET Q q 0 0 0 rg BT 465.85 212.10 Td (s ) Tj ET Q q 0 0 0 rg BT 473.26 212.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 522.88 212.10 Td (with ) Tj ET Q q 0 0 0 rg BT 544.18 212.10 Td (such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 91.99 200.10 Td (as ) Tj ET Q q 0 0 0 rg BT 102.82 200.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.65 200.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 149.48 200.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.48 200.10 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 168.60000000000002 m 398 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 168.60000000000002 m 421 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 168.60000000000002 m 487 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 168.60000000000002 m 496 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 168.60000000000002 m 562 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 108.60000000000002 m 398 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 108.60000000000002 m 421 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 108.60000000000002 m 487 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 108.60000000000002 m 496 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 108.60000000000002 m 562 108.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.75 172.85 Td (Financial Covenant) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.15 180.85 Td (Covenant) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.80 172.85 Td (Requirement) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.80 172.85 Td (Actual) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.30 160.55 Td (\(Dollars in millions\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 148.55 Td (Leverage ) Tj ET Q q 0 0 0 rg BT 83.25 148.55 Td (Ratio) Tj ET Q /GS0 gs q 4.39 0 0 7.27 406.80 146.83 cm /I10 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.25 148.55 Td (10.0 to 1.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.25 148.55 Td (4.1 to 1.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 136.55 Td (Liquidity) Tj ET Q /GS0 gs q 4.39 0 0 7.27 406.80 134.83 cm /I11 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.50 136.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.80 136.55 Td (6.25) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.50 136.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 136.55 Td (16.7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 124.55 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 82.39 124.55 Td (Net ) Tj ET Q q 0 0 0 rg BT 95.94 124.55 Td (Income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.70 124.55 Td (>) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.50 124.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.80 124.55 Td (0.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.50 124.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 124.55 Td (13.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 112.55 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 112.55 Td (angible ) Tj ET Q q 0 0 0 rg BT 81.38 112.55 Td (Net ) Tj ET Q q 0 0 0 rg BT 94.78 112.55 Td (W) Tj ET Q q 0 0 0 rg BT 101.69 112.55 Td (orth) Tj ET Q /GS0 gs q 4.39 0 0 7.27 406.80 110.83 cm /I12 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.50 112.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.80 112.55 Td (12.5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.50 112.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.80 112.55 Td (25.7) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 87.10 Td (MIF) Tj ET Q q 0 0 0 rg BT 68.77 87.10 Td ( ) Tj ET Q q 0 0 0 rg BT 71.90 87.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 115.03 87.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 167.05 87.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 198.34 87.10 Td (. ) Tj ET Q q 0 0 0 rg BT 203.96 87.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.09 87.10 Td (The ) Tj ET Q q 0 0 0 rg BT 225.76 87.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 246.68 87.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 288.68 87.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 338.45 87.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 372.13 87.10 Td (is ) Tj ET Q q 0 0 0 rg BT 381.93 87.10 Td (used ) Tj ET Q q 0 0 0 rg BT 403.39 87.10 Td (to ) Tj ET Q q 0 0 0 rg BT 414.29 87.10 Td (finance ) Tj ET Q q 0 0 0 rg BT 446.84 87.10 Td (eligible ) Tj ET Q q 0 0 0 rg BT 479.96 87.10 Td (residential ) Tj ET Q q 0 0 0 rg BT 524.74 87.10 Td (mortgage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 75.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 73.11 75.10 Td (originated ) Tj ET Q q 0 0 0 rg BT 116.16 75.10 Td (by ) Tj ET Q q 0 0 0 rg BT 128.67 75.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 146.17 75.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 185.89 75.10 Td (and ) Tj ET Q q 0 0 0 rg BT 202.83 75.10 Td (is ) Tj ET Q q 0 0 0 rg BT 212.00 75.10 Td (structured ) Tj ET Q q 0 0 0 rg BT 254.50 75.10 Td (as ) Tj ET Q q 0 0 0 rg BT 265.33 75.10 Td (a ) Tj ET Q q 0 0 0 rg BT 272.27 75.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 312.54 75.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 358.35 75.10 Td (facility) Tj ET Q q 0 0 0 rg BT 386.02 75.10 Td (. ) Tj ET Q q 0 0 0 rg BT 391.03 75.10 Td ( ) Tj ET Q q 0 0 0 rg BT 393.35 75.10 Td (The ) Tj ET Q q 0 0 0 rg BT 411.40 75.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 431.69 75.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 480.84 75.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 513.90 75.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 550.84 75.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 63.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.37 63.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 99.35 63.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 143.44 63.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 190.85 63.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.61 63.10 Td ($35 ) Tj ET Q q 0 0 0 rg BT 219.04 63.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.93 63.10 Td (, ) Tj ET Q q 0 0 0 rg BT 252.86 63.10 Td (which ) Tj ET Q q 0 0 0 rg BT 279.73 63.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 319.91 63.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.12 63.10 Td ($50million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.51 63.10 Td ( ) Tj ET Q q 0 0 0 rg BT 378.94 63.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.81 63.10 Td (November15, ) Tj ET Q q 0 0 0 rg BT 460.44 63.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.44 63.10 Td ( ) Tj ET Q q 0 0 0 rg BT 482.87 63.10 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.41 63.10 Td (February1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 51.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 51.10 Td (. ) Tj ET Q q 0 0 0 rg BT 74.72 51.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.24 51.10 Td (The ) Tj ET Q q 0 0 0 rg BT 95.50 51.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 116.00 51.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 157.59 51.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 206.95 51.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 240.22 51.10 Td (expires ) Tj ET Q q 0 0 0 rg BT 271.82 51.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.53 51.10 Td (October29, ) Tj ET Q q 0 0 0 rg BT 334.46 51.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.46 51.10 Td (. ) Tj ET Q q 0 0 0 rg BT 359.67 51.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 377.39 51.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 417.32 51.10 Td (pays ) Tj ET Q q 0 0 0 rg BT 438.36 51.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 470.51 51.10 Td (on ) Tj ET Q q 0 0 0 rg BT 483.23 51.10 Td (each ) Tj ET Q q 0 0 0 rg BT 504.26 51.10 Td (advance ) Tj ET Q q 0 0 0 rg BT 539.73 51.10 Td (under ) Tj ET Q endstream endobj 101 0 obj <><>] /Rotate 0 /Contents 102 0 R>> endobj 102 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.60 740.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 83.27 740.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 124.03 740.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 172.56 740.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 205.00 740.10 Td (at ) Tj ET Q q 0 0 0 rg BT 214.10 740.10 Td (a ) Tj ET Q q 0 0 0 rg BT 220.42 740.10 Td (per ) Tj ET Q q 0 0 0 rg BT 235.08 740.10 Td (annum ) Tj ET Q q 0 0 0 rg BT 264.18 740.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 281.05 740.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 304.59 740.10 Td (to ) Tj ET Q q 0 0 0 rg BT 314.25 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 328.35 740.10 Td (floating ) Tj ET Q q 0 0 0 rg BT 361.34 740.10 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 393.23 740.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 410.10 740.10 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.65 740.10 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 445.54 740.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.75 740.10 Td (275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.75 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.63 740.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 494.52 740.10 Td (points ) Tj ET Q q 0 0 0 rg BT 520.85 740.10 Td (depending ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.18 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 77.09 728.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 96.99 728.10 Td (type. ) Tj ET Q q 0 0 0 rg BT 119.39 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 121.88 728.10 Td (The ) Tj ET Q q 0 0 0 rg BT 140.11 728.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 182.78 728.10 Td (in ) Tj ET Q q 0 0 0 rg BT 193.24 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.14 728.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 228.61 728.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 270.17 728.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 319.50 728.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 352.74 728.10 Td (are ) Tj ET Q q 0 0 0 rg BT 367.63 728.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 420.87 728.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 451.33 728.10 Td (to ) Tj ET Q q 0 0 0 rg BT 461.79 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 476.69 728.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 519.36 728.10 Td (in ) Tj ET Q q 0 0 0 rg BT 529.82 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 544.72 728.10 Td (MIF ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 90.44 716.10 Td (W) Tj ET Q q 0 0 0 rg BT 99.08 716.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 144.69 716.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 193.84 716.10 Td ( ) Tj ET Q q 0 0 0 rg BT 195.90 716.10 Td (The ) Tj ET Q q 0 0 0 rg BT 213.67 716.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 233.68 716.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 274.78 716.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 323.65 716.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 356.42 716.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 393.09 716.10 Td (for ) Tj ET Q q 0 0 0 rg BT 406.97 716.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 431.98 716.10 Td (with ) Tj ET Q q 0 0 0 rg BT 451.98 716.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 482.52 716.10 Td (to ) Tj ET Q q 0 0 0 rg BT 492.52 716.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 521.95 716.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 541.39 716.10 Td (types ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.97 704.10 Td (can ) Tj ET Q q 0 0 0 rg BT 85.32 704.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 114.33 704.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 164.47 704.10 Td (borrowings, ) Tj ET Q q 0 0 0 rg BT 215.99 704.10 Td (which ) Tj ET Q q 0 0 0 rg BT 243.90 704.10 Td (are ) Tj ET Q q 0 0 0 rg BT 259.58 704.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 313.61 704.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 344.85 704.10 Td (to ) Tj ET Q q 0 0 0 rg BT 356.11 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.80 704.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 419.70 704.10 Td (in ) Tj ET Q q 0 0 0 rg BT 430.95 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.64 704.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 467.90 704.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 510.00 704.10 Td (W) Tj ET Q q 0 0 0 rg BT 518.64 704.10 Td (arehousing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 100.44 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 104.17 692.10 Td (There ) Tj ET Q q 0 0 0 rg BT 131.51 692.10 Td (are ) Tj ET Q q 0 0 0 rg BT 147.73 692.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 187.85 692.10 Td (no ) Tj ET Q q 0 0 0 rg BT 201.86 692.10 Td (guarantors ) Tj ET Q q 0 0 0 rg BT 248.09 692.10 Td (of ) Tj ET Q q 0 0 0 rg BT 260.44 692.10 Td (the ) Tj ET Q q 0 0 0 rg BT 276.68 692.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 298.48 692.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 341.37 692.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 392.04 692.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 421.94 692.10 Td (. ) Tj ET Q q 0 0 0 rg BT 428.46 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 431.59 692.10 Td (As ) Tj ET Q q 0 0 0 rg BT 446.72 692.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.07 692.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 496.42 692.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.42 692.10 Td (, ) Tj ET Q q 0 0 0 rg BT 522.94 692.10 Td (there ) Tj ET Q q 0 0 0 rg BT 546.95 692.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td ($25.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 106.98 680.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 157.23 680.10 Td (under ) Tj ET Q q 0 0 0 rg BT 183.58 680.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.38 680.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 220.75 680.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 263.21 680.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 313.45 680.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 343.35 680.10 Td (. ) Tj ET Q q 0 0 0 rg BT 349.43 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 353.02 680.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 371.60 680.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 412.40 680.10 Td (was ) Tj ET Q q 0 0 0 rg BT 431.54 680.10 Td (in ) Tj ET Q q 0 0 0 rg BT 442.90 680.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 492.58 680.10 Td (with ) Tj ET Q q 0 0 0 rg BT 513.94 680.10 Td (all ) Tj ET Q q 0 0 0 rg BT 527.52 680.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 91.99 668.10 Td (as ) Tj ET Q q 0 0 0 rg BT 102.82 668.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.65 668.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 149.48 668.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.48 668.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 646.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 77.10 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 79.60 646.10 Td (Notes.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 622.10 Td (5.625% ) Tj ET Q q 0 0 0 rg BT 83.22 622.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 113.34 622.10 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 142.06 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.95 622.10 Td (In ) Tj ET Q q 0 0 0 rg BT 155.54 622.10 Td (August ) Tj ET Q q 0 0 0 rg BT 187.32 622.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 212.71 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 227.82 622.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 269.59 622.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.48 622.10 Td ($250 ) Tj ET Q q 0 0 0 rg BT 320.38 622.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.27 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 352.16 622.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 393.91 622.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 432.34 622.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 465.23 622.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.45 622.10 Td (5.625%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.28 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 510.17 622.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 539.17 622.10 Td (Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 610.10 Td (due ) Tj ET Q q 0 0 0 rg BT 66.49 610.10 Td (2025. ) Tj ET Q q 0 0 0 rg BT 91.55 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 93.92 610.10 Td (The ) Tj ET Q q 0 0 0 rg BT 112.03 610.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 134.58 610.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 163.25 610.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 189.13 610.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 221.12 610.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 250.88 610.10 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 295.92 610.10 Td (as ) Tj ET Q q 0 0 0 rg BT 306.81 610.10 Td (more ) Tj ET Q q 0 0 0 rg BT 329.91 610.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 351.35 610.10 Td (described ) Tj ET Q q 0 0 0 rg BT 392.23 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 409.22 610.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 441.76 610.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.10 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.87 610.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 507.19 610.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 550.29 610.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 71.80 598.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 100.20 598.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 128.33 598.10 Td (which ) Tj ET Q q 0 0 0 rg BT 155.07 598.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 176.26 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.77 598.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 218.62 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.25 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 243.76 598.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 284.94 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 301.68 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 316.19 598.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 355.69 598.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 405.21 598.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 417.78 598.10 Td (among ) Tj ET Q q 0 0 0 rg BT 447.30 598.10 Td (other ) Tj ET Q q 0 0 0 rg BT 470.14 598.10 Td (things: ) Tj ET Q q 0 0 0 rg BT 499.67 598.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 522.51 598.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 586.10 Td (indebtedness; ) Tj ET Q q 0 0 0 rg BT 107.68 586.10 Td (make ) Tj ET Q q 0 0 0 rg BT 133.09 586.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 164.04 586.10 Td (payments, ) Tj ET Q q 0 0 0 rg BT 208.61 586.10 Td (including ) Tj ET Q q 0 0 0 rg BT 250.13 586.10 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 295.27 586.10 Td (or ) Tj ET Q q 0 0 0 rg BT 307.35 586.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 354.40 586.10 Td (any ) Tj ET Q q 0 0 0 rg BT 372.59 586.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 403.83 586.10 Td (in ) Tj ET Q q 0 0 0 rg BT 415.36 586.10 Td (an ) Tj ET Q q 0 0 0 rg BT 428.55 586.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 471.16 586.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 504.90 586.10 Td (exceeding ) Tj ET Q q 0 0 0 rg BT 549.18 586.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 574.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 93.60 574.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 134.38 574.10 Td (basket; ) Tj ET Q q 0 0 0 rg BT 169.60 574.10 Td (make ) Tj ET Q q 0 0 0 rg BT 193.71 574.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 223.37 574.10 Td (investments; ) Tj ET Q q 0 0 0 rg BT 276.38 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.27 574.10 Td (create ) Tj ET Q q 0 0 0 rg BT 319.59 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 330.37 574.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 353.38 574.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 383.04 574.10 Td (liens, ) Tj ET Q q 0 0 0 rg BT 406.88 574.10 Td (consolidate ) Tj ET Q q 0 0 0 rg BT 454.88 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 465.66 574.10 Td (mer) Tj ET Q q 0 0 0 rg BT 481.03 574.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 492.92 574.10 Td (with ) Tj ET Q q 0 0 0 rg BT 513.16 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 523.94 574.10 Td (into ) Tj ET Q q 0 0 0 rg BT 541.96 574.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 562.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 96.45 562.10 Td (or ) Tj ET Q q 0 0 0 rg BT 106.47 562.10 Td (liquidate ) Tj ET Q q 0 0 0 rg BT 143.15 562.10 Td (or ) Tj ET Q q 0 0 0 rg BT 153.17 562.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 168.75 562.10 Td (or ) Tj ET Q q 0 0 0 rg BT 178.77 562.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 210.99 562.10 Td (all ) Tj ET Q q 0 0 0 rg BT 222.68 562.10 Td (or ) Tj ET Q q 0 0 0 rg BT 232.70 562.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 284.94 562.10 Td (all ) Tj ET Q q 0 0 0 rg BT 296.62 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.64 562.10 Td (our ) Tj ET Q q 0 0 0 rg BT 321.66 562.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 349.18 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 350.75 562.10 Td (These ) Tj ET Q q 0 0 0 rg BT 376.32 562.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 417.99 562.10 Td (are ) Tj ET Q q 0 0 0 rg BT 431.89 562.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 461.90 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 471.37 562.10 Td (a ) Tj ET Q q 0 0 0 rg BT 477.50 562.10 Td (number ) Tj ET Q q 0 0 0 rg BT 509.73 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 519.75 562.10 Td (exceptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.24 550.10 Td (qualifications ) Tj ET Q q 0 0 0 rg BT 124.97 550.10 Td (as ) Tj ET Q q 0 0 0 rg BT 136.61 550.10 Td (described ) Tj ET Q q 0 0 0 rg BT 178.23 550.10 Td (in ) Tj ET Q q 0 0 0 rg BT 189.31 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 204.83 550.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 245.89 550.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 289.74 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 305.26 550.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 328.57 550.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 357.98 550.10 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 387.11 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 389.69 550.10 Td (As ) Tj ET Q q 0 0 0 rg BT 404.10 550.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.74 550.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 452.37 550.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.37 550.10 Td (, ) Tj ET Q q 0 0 0 rg BT 478.17 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 493.69 550.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 535.88 550.10 Td (was ) Tj ET Q q 0 0 0 rg BT 554.74 550.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 538.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 97.96 538.10 Td (with ) Tj ET Q q 0 0 0 rg BT 118.10 538.10 Td (all ) Tj ET Q q 0 0 0 rg BT 130.46 538.10 Td (terms, ) Tj ET Q q 0 0 0 rg BT 157.55 538.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 204.08 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 220.89 538.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 263.24 538.10 Td (under ) Tj ET Q q 0 0 0 rg BT 288.37 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 302.96 538.10 Td (indenture. ) Tj ET Q q 0 0 0 rg BT 345.59 538.10 Td ( ) Tj ET Q q 0 0 0 rg BT 347.96 538.10 Td (Please ) Tj ET Q q 0 0 0 rg BT 375.87 538.10 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 391.005859375 536.7669921875 m 417.8115234375 536.7669921875 l s q 0 0 1 rg BT 391.01 538.10 Td (Note ) Tj ET Q q 0 0 1 rg BT 412.81 538.10 Td (8) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 417.81 538.10 Td ( ) Tj ET Q q 0 0 0 rg BT 420.18 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 430.32 538.10 Td (our ) Tj ET Q q 0 0 0 rg BT 446.02 538.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 483.37 538.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 527.95 538.10 Td (for ) Tj ET Q q 0 0 0 rg BT 541.98 538.10 Td (more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 526.10 Td (information ) Tj ET Q q 0 0 0 rg BT 99.21 526.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 140.03 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.74 526.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 177.24 526.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 205.85 526.10 Td (Notes.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 502.10 Td (6.75% ) Tj ET Q q 0 0 0 rg BT 78.06 502.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 108.03 502.10 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 136.59 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.33 502.10 Td (In ) Tj ET Q q 0 0 0 rg BT 150.39 502.10 Td (December ) Tj ET Q q 0 0 0 rg BT 194.21 502.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 219.44 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 234.39 502.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 276.01 502.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.74 502.10 Td ($300 ) Tj ET Q q 0 0 0 rg BT 326.48 502.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.37 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 358.10 502.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 399.70 502.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 437.97 502.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 470.70 502.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.76 502.10 Td (6.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.59 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 510.33 502.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 539.17 502.10 Td (Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 490.10 Td (due ) Tj ET Q q 0 0 0 rg BT 66.49 490.10 Td (2021. ) Tj ET Q q 0 0 0 rg BT 91.55 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 93.92 490.10 Td (The ) Tj ET Q q 0 0 0 rg BT 112.03 490.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 134.58 490.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 163.25 490.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 189.13 490.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 221.12 490.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 250.88 490.10 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 295.92 490.10 Td (as ) Tj ET Q q 0 0 0 rg BT 306.81 490.10 Td (more ) Tj ET Q q 0 0 0 rg BT 329.91 490.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 351.35 490.10 Td (described ) Tj ET Q q 0 0 0 rg BT 392.23 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 409.22 490.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 441.76 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.10 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.87 490.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 507.19 490.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 550.29 490.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 478.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 71.80 478.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 100.20 478.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 128.33 478.10 Td (which ) Tj ET Q q 0 0 0 rg BT 155.07 478.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 176.26 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.77 478.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 218.62 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.25 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 243.76 478.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 284.94 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 301.68 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 316.19 478.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 355.69 478.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 405.21 478.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 417.78 478.10 Td (among ) Tj ET Q q 0 0 0 rg BT 447.30 478.10 Td (other ) Tj ET Q q 0 0 0 rg BT 470.14 478.10 Td (things: ) Tj ET Q q 0 0 0 rg BT 499.67 478.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 522.51 478.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 466.10 Td (indebtedness; ) Tj ET Q q 0 0 0 rg BT 107.68 466.10 Td (make ) Tj ET Q q 0 0 0 rg BT 133.09 466.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 164.04 466.10 Td (payments, ) Tj ET Q q 0 0 0 rg BT 208.61 466.10 Td (including ) Tj ET Q q 0 0 0 rg BT 250.13 466.10 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 295.27 466.10 Td (or ) Tj ET Q q 0 0 0 rg BT 307.35 466.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 354.40 466.10 Td (any ) Tj ET Q q 0 0 0 rg BT 372.59 466.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 403.83 466.10 Td (in ) Tj ET Q q 0 0 0 rg BT 415.36 466.10 Td (an ) Tj ET Q q 0 0 0 rg BT 428.55 466.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 471.16 466.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 504.90 466.10 Td (exceeding ) Tj ET Q q 0 0 0 rg BT 549.18 466.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 454.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 93.60 454.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 134.38 454.10 Td (basket; ) Tj ET Q q 0 0 0 rg BT 169.60 454.10 Td (make ) Tj ET Q q 0 0 0 rg BT 193.71 454.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 223.37 454.10 Td (investments; ) Tj ET Q q 0 0 0 rg BT 276.38 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.27 454.10 Td (create ) Tj ET Q q 0 0 0 rg BT 319.59 454.10 Td (or ) Tj ET Q q 0 0 0 rg BT 330.37 454.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 353.38 454.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 383.04 454.10 Td (liens, ) Tj ET Q q 0 0 0 rg BT 406.88 454.10 Td (consolidate ) Tj ET Q q 0 0 0 rg BT 454.88 454.10 Td (or ) Tj ET Q q 0 0 0 rg BT 465.66 454.10 Td (mer) Tj ET Q q 0 0 0 rg BT 481.03 454.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 492.92 454.10 Td (with ) Tj ET Q q 0 0 0 rg BT 513.16 454.10 Td (or ) Tj ET Q q 0 0 0 rg BT 523.94 454.10 Td (into ) Tj ET Q q 0 0 0 rg BT 541.96 454.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 442.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 96.45 442.10 Td (or ) Tj ET Q q 0 0 0 rg BT 106.47 442.10 Td (liquidate ) Tj ET Q q 0 0 0 rg BT 143.15 442.10 Td (or ) Tj ET Q q 0 0 0 rg BT 153.17 442.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 168.75 442.10 Td (or ) Tj ET Q q 0 0 0 rg BT 178.77 442.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 210.99 442.10 Td (all ) Tj ET Q q 0 0 0 rg BT 222.68 442.10 Td (or ) Tj ET Q q 0 0 0 rg BT 232.70 442.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 284.94 442.10 Td (all ) Tj ET Q q 0 0 0 rg BT 296.62 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.64 442.10 Td (our ) Tj ET Q q 0 0 0 rg BT 321.66 442.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 349.18 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 350.75 442.10 Td (These ) Tj ET Q q 0 0 0 rg BT 376.32 442.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 417.99 442.10 Td (are ) Tj ET Q q 0 0 0 rg BT 431.89 442.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 461.90 442.10 Td (to ) Tj ET Q q 0 0 0 rg BT 471.37 442.10 Td (a ) Tj ET Q q 0 0 0 rg BT 477.50 442.10 Td (number ) Tj ET Q q 0 0 0 rg BT 509.73 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 519.75 442.10 Td (exceptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.24 430.10 Td (qualifications ) Tj ET Q q 0 0 0 rg BT 124.97 430.10 Td (as ) Tj ET Q q 0 0 0 rg BT 136.61 430.10 Td (described ) Tj ET Q q 0 0 0 rg BT 178.23 430.10 Td (in ) Tj ET Q q 0 0 0 rg BT 189.31 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 204.83 430.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 245.89 430.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 289.74 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 305.26 430.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 328.57 430.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 357.98 430.10 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 387.11 430.10 Td ( ) Tj ET Q q 0 0 0 rg BT 389.69 430.10 Td (As ) Tj ET Q q 0 0 0 rg BT 404.10 430.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.74 430.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 452.37 430.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.37 430.10 Td (, ) Tj ET Q q 0 0 0 rg BT 478.17 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 493.69 430.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 535.88 430.10 Td (was ) Tj ET Q q 0 0 0 rg BT 554.74 430.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 418.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 97.96 418.10 Td (with ) Tj ET Q q 0 0 0 rg BT 118.10 418.10 Td (all ) Tj ET Q q 0 0 0 rg BT 130.46 418.10 Td (terms, ) Tj ET Q q 0 0 0 rg BT 157.55 418.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 204.08 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 220.89 418.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 263.24 418.10 Td (under ) Tj ET Q q 0 0 0 rg BT 288.37 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 302.96 418.10 Td (indenture. ) Tj ET Q q 0 0 0 rg BT 345.59 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 347.96 418.10 Td (Please ) Tj ET Q q 0 0 0 rg BT 375.87 418.10 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 391.005859375 416.7669921875 m 417.8115234375 416.7669921875 l s q 0 0 1 rg BT 391.01 418.10 Td (Note ) Tj ET Q q 0 0 1 rg BT 412.81 418.10 Td (8) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 417.81 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 420.18 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 430.32 418.10 Td (our ) Tj ET Q q 0 0 0 rg BT 446.02 418.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 483.37 418.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 527.95 418.10 Td (for ) Tj ET Q q 0 0 0 rg BT 541.98 418.10 Td (more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 406.10 Td (information ) Tj ET Q q 0 0 0 rg BT 99.21 406.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 140.03 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.74 406.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 177.24 406.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 205.85 406.10 Td (Notes.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 382.10 Td (W) Tj ET Q q 0 0 0 rg BT 57.65 382.10 Td (eighted ) Tj ET Q q 0 0 0 rg BT 89.09 382.10 Td (A) Tj ET Q q 0 0 0 rg BT 95.02 382.10 Td (verage ) Tj ET Q q 0 0 0 rg BT 123.93 382.10 Td (Borrowings. ) Tj ET Q q 0 0 0 rg BT 176.49 382.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.19 382.10 Td (For ) Tj ET Q q 0 0 0 rg BT 193.79 382.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.71 382.10 Td (three ) Tj ET Q q 0 0 0 rg BT 229.40 382.10 Td (months ) Tj ET Q q 0 0 0 rg BT 260.55 382.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 286.13 382.10 Td (June ) Tj ET Q q 0 0 0 rg BT 306.16 382.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 320.36 382.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 342.07 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 358.21 382.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.21 382.10 Td (, ) Tj ET Q q 0 0 0 rg BT 382.41 382.10 Td (our ) Tj ET Q q 0 0 0 rg BT 397.45 382.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 435.80 382.10 Td (average ) Tj ET Q q 0 0 0 rg BT 468.59 382.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 515.85 382.10 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 370.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.80 370.10 Td ($789.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.69 370.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.56 370.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.87 370.10 Td ($649.0million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.77 370.10 Td (, ) Tj ET Q q 0 0 0 rg BT 211.14 370.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 258.80 370.10 Td (, ) Tj ET Q q 0 0 0 rg BT 263.17 370.10 Td (with ) Tj ET Q q 0 0 0 rg BT 282.82 370.10 Td (a ) Tj ET Q q 0 0 0 rg BT 289.13 370.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 327.66 370.10 Td (average ) Tj ET Q q 0 0 0 rg BT 360.61 370.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 391.92 370.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 408.77 370.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.98 370.10 Td (6.18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.81 370.10 Td ( ) Tj ET Q q 0 0 0 rg BT 446.68 370.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.99 370.10 Td (5.70%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.82 370.10 Td (, ) Tj ET Q q 0 0 0 rg BT 493.19 370.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 540.85 370.10 Td (. ) Tj ET Q q 0 0 0 rg BT 545.22 370.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.96 370.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 358.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.25 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.25 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 96.03 358.10 Td (our ) Tj ET Q q 0 0 0 rg BT 112.36 358.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 152.02 358.10 Td (average ) Tj ET Q q 0 0 0 rg BT 186.10 358.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 234.65 358.10 Td (related ) Tj ET Q q 0 0 0 rg BT 264.85 358.10 Td (to ) Tj ET Q q 0 0 0 rg BT 275.63 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 290.85 358.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 327.72 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.05 358.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.38 358.10 Td ($250.0 ) Tj ET Q q 0 0 0 rg BT 385.88 358.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.77 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 417.77 358.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 459.63 358.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 498.18 358.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 531.17 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 542.50 358.10 Td (2025 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 346.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 77.82 346.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 103.37 346.10 Td (during ) Tj ET Q q 0 0 0 rg BT 131.69 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.12 346.10 Td (third ) Tj ET Q q 0 0 0 rg BT 167.22 346.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 197.75 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 208.29 346.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 230.50 346.10 Td (in ) Tj ET Q q 0 0 0 rg BT 240.49 346.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 275.48 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 285.47 346.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 325.44 346.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 373.21 346.10 Td (under ) Tj ET Q q 0 0 0 rg BT 398.19 346.10 Td (our ) Tj ET Q q 0 0 0 rg BT 413.73 346.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 440.94 346.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 473.70 346.10 Td (on ) Tj ET Q q 0 0 0 rg BT 485.92 346.10 Td (a ) Tj ET Q q 0 0 0 rg BT 492.57 346.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 531.44 346.10 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 334.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 71.03 334.10 Td (during ) Tj ET Q q 0 0 0 rg BT 98.66 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 112.41 334.10 Td (second ) Tj ET Q q 0 0 0 rg BT 141.70 334.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 171.55 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 181.40 334.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 202.93 334.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 243.88 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 253.19 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 266.93 334.10 Td (same ) Tj ET Q q 0 0 0 rg BT 289.01 334.10 Td (period ) Tj ET Q q 0 0 0 rg BT 316.08 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 325.39 334.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 349.41 334.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 384.26 334.10 Td (of) Tj ET Q q 0 0 0 rg BT 392.41 334.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 408.38 334.10 Td (by ) Tj ET Q q 0 0 0 rg BT 419.90 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 433.65 334.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 469.06 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 478.91 334.10 Td (our ) Tj ET Q q 0 0 0 rg BT 493.77 334.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 515.30 334.10 Td (Convertible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 322.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 77.46 322.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 132.64 322.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 157.83 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 167.46 322.10 Td (September ) Tj ET Q q 0 0 0 rg BT 212.08 322.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 233.93 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 250.23 322.10 Td (our ) Tj ET Q q 0 0 0 rg BT 265.41 322.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 287.26 322.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 336.33 322.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 364.29 322.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 419.47 322.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 444.66 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 454.29 322.10 Td (March ) Tj ET Q q 0 0 0 rg BT 482.24 322.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 506.60 322.10 Td ( ) Tj ET Q q 0 0 0 rg BT 508.45 322.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 525.86 322.10 Td (weighted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 310.10 Td (average ) Tj ET Q q 0 0 0 rg BT 82.63 310.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 114.10 310.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 131.13 310.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 170.93 310.10 Td (as ) Tj ET Q q 0 0 0 rg BT 181.30 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 187.78 310.10 Td (result ) Tj ET Q q 0 0 0 rg BT 212.04 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 222.41 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.67 310.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 272.59 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.96 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.22 310.10 Td (2025 ) Tj ET Q q 0 0 0 rg BT 319.27 310.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 347.42 310.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 372.79 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 382.61 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 396.87 310.10 Td (third ) Tj ET Q q 0 0 0 rg BT 417.80 310.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 448.16 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.53 310.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 483.07 310.10 Td (which ) Tj ET Q q 0 0 0 rg BT 509.55 310.10 Td (have ) Tj ET Q q 0 0 0 rg BT 530.47 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 536.95 310.10 Td (higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 298.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 81.65 298.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 99.34 298.10 Td (than ) Tj ET Q q 0 0 0 rg BT 119.27 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 134.20 298.10 Td (3.0% ) Tj ET Q q 0 0 0 rg BT 157.74 298.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 175.44 298.10 Td (on ) Tj ET Q q 0 0 0 rg BT 188.15 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.08 298.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 225.80 298.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 275.72 298.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 304.54 298.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 360.58 298.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 386.62 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 403.77 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 418.70 298.10 Td (3.25% ) Tj ET Q q 0 0 0 rg BT 447.24 298.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 464.94 298.10 Td (on ) Tj ET Q q 0 0 0 rg BT 477.65 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 492.58 298.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 515.30 298.10 Td (Convertible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 286.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 78.11 286.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 133.93 286.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 162.26 286.10 Td (which ) Tj ET Q q 0 0 0 rg BT 189.20 286.10 Td (were ) Tj ET Q q 0 0 0 rg BT 211.13 286.10 Td (both ) Tj ET Q q 0 0 0 rg BT 231.41 286.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 280.57 286.10 Td (during ) Tj ET Q q 0 0 0 rg BT 309.18 286.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 331.12 286.10 Td (year) Tj ET Q q 0 0 0 rg BT 348.70 286.10 Td () Tj ET Q q 0 0 0 rg BT 351.48 286.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.87 286.10 Td (second ) Tj ET Q q 0 0 0 rg BT 388.14 286.10 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.90 286.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 262.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.88 262.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 95.59 262.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.59 262.10 Td (, ) Tj ET Q q 0 0 0 rg BT 119.47 262.10 Td (we ) Tj ET Q q 0 0 0 rg BT 132.51 262.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.33 262.10 Td ($181.8 ) Tj ET Q q 0 0 0 rg BT 177.21 262.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.11 262.10 Td ( ) Tj ET Q q 0 0 0 rg BT 207.49 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.20 262.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 264.13 262.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 312.18 262.10 Td (under ) Tj ET Q q 0 0 0 rg BT 336.33 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 349.92 262.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 376.30 262.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 406.20 262.10 Td (, ) Tj ET Q q 0 0 0 rg BT 410.08 262.10 Td (an ) Tj ET Q q 0 0 0 rg BT 420.90 262.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 455.04 262.10 Td (from ) Tj ET Q q 0 0 0 rg BT 475.86 262.10 Td (having ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.45 262.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.45 262.10 Td ( ) Tj ET Q q 0 0 0 rg BT 515.83 262.10 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 250.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 97.66 250.10 Td (at ) Tj ET Q q 0 0 0 rg BT 107.48 250.10 Td (December ) Tj ET Q q 0 0 0 rg BT 151.16 250.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 166.27 250.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 191.37 250.10 Td ( ) Tj ET Q q 0 0 0 rg BT 193.98 250.10 Td (During ) Tj ET Q q 0 0 0 rg BT 224.91 250.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.73 250.10 Td (first ) Tj ET Q q 0 0 0 rg BT 258.44 250.10 Td (half ) Tj ET Q q 0 0 0 rg BT 276.59 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 287.53 250.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.53 250.10 Td (, ) Tj ET Q q 0 0 0 rg BT 312.63 250.10 Td (we ) Tj ET Q q 0 0 0 rg BT 326.90 250.10 Td (used ) Tj ET Q q 0 0 0 rg BT 347.83 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.65 250.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 390.25 250.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 423.41 250.10 Td (to ) Tj ET Q q 0 0 0 rg BT 433.79 250.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 454.72 250.10 Td (our ) Tj ET Q q 0 0 0 rg BT 470.66 250.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 517.14 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 528.08 250.10 Td (Pinnacle ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 238.10 Td (Homes, ) Tj ET Q q 0 0 0 rg BT 83.01 238.10 Td (a ) Tj ET Q q 0 0 0 rg BT 90.13 238.10 Td (privately-held ) Tj ET Q q 0 0 0 rg BT 148.89 238.10 Td (homebuilder ) Tj ET Q q 0 0 0 rg BT 202.11 238.10 Td (in ) Tj ET Q q 0 0 0 rg BT 212.57 238.10 Td (Detroit, ) Tj ET Q q 0 0 0 rg BT 246.07 238.10 Td (Michigan, ) Tj ET Q q 0 0 0 rg BT 289.58 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 306.69 238.10 Td (repay ) Tj ET Q q 0 0 0 rg BT 331.58 238.10 Td (that ) Tj ET Q q 0 0 0 rg BT 349.25 238.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 380.82 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 391.82 238.10 Td (our ) Tj ET Q q 0 0 0 rg BT 407.83 238.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 430.51 238.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 480.40 238.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 509.19 238.10 Td (Subordinated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 226.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 74.71 226.10 Td (that ) Tj ET Q q 0 0 0 rg BT 91.58 226.10 Td (were ) Tj ET Q q 0 0 0 rg BT 112.88 226.10 Td (not ) Tj ET Q q 0 0 0 rg BT 127.53 226.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 168.83 226.10 Td (into ) Tj ET Q q 0 0 0 rg BT 186.26 226.10 Td (common ) Tj ET Q q 0 0 0 rg BT 223.13 226.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 252.50 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 262.15 226.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 296.80 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 306.45 226.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 352.21 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 361.86 226.10 Td (land ) Tj ET Q q 0 0 0 rg BT 380.96 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 397.27 226.10 Td (land ) Tj ET Q q 0 0 0 rg BT 416.36 226.10 Td (development, ) Tj ET Q q 0 0 0 rg BT 472.39 226.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 523.69 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 533.90 226.10 Td (homes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 214.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 89.82 214.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 109.59 214.10 Td (originations, ) Tj ET Q q 0 0 0 rg BT 162.41 214.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 202.73 214.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 243.88 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 260.87 214.10 Td (working ) Tj ET Q q 0 0 0 rg BT 296.75 214.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 325.96 214.10 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 383.21 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 385.76 214.10 Td (During ) Tj ET Q q 0 0 0 rg BT 416.65 214.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.42 214.10 Td (six ) Tj ET Q q 0 0 0 rg BT 445.64 214.10 Td (months ) Tj ET Q q 0 0 0 rg BT 477.64 214.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 504.07 214.10 Td (June ) Tj ET Q q 0 0 0 rg BT 524.95 214.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 540.01 214.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 214.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.30 202.10 Td (average ) Tj ET Q q 0 0 0 rg BT 97.97 202.10 Td (daily ) Tj ET Q q 0 0 0 rg BT 120.55 202.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 153.13 202.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 202.38 202.10 Td (under ) Tj ET Q q 0 0 0 rg BT 227.73 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 242.53 202.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 270.11 202.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 303.25 202.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.38 202.10 Td ($120.1 ) Tj ET Q q 0 0 0 rg BT 351.47 202.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.36 202.10 Td ( ) Tj ET Q q 0 0 0 rg BT 382.95 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 399.97 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 414.77 202.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 457.91 202.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 490.49 202.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 539.73 202.10 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.77 190.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 92.83 190.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 126.44 190.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.05 190.10 Td ($210.0 ) Tj ET Q q 0 0 0 rg BT 175.61 190.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.50 190.10 Td (. ) Tj ET Q q 0 0 0 rg BT 210.06 190.10 Td ( ) Tj ET Q q 0 0 0 rg BT 213.11 190.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 240.61 190.10 Td (on ) Tj ET Q q 0 0 0 rg BT 253.67 190.10 Td (our ) Tj ET Q q 0 0 0 rg BT 270.06 190.10 Td (current ) Tj ET Q q 0 0 0 rg BT 301.43 190.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 348.36 190.10 Td (spending ) Tj ET Q q 0 0 0 rg BT 387.52 190.10 Td (on ) Tj ET Q q 0 0 0 rg BT 400.58 190.10 Td (home ) Tj ET Q q 0 0 0 rg BT 425.85 190.10 Td (construction, ) Tj ET Q q 0 0 0 rg BT 480.85 190.10 Td (land ) Tj ET Q q 0 0 0 rg BT 501.12 190.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 548.06 190.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (development ) Tj ET Q q 0 0 0 rg BT 104.02 178.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.66 178.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.66 178.10 Td (, ) Tj ET Q q 0 0 0 rg BT 140.03 178.10 Td (of) Tj ET Q q 0 0 0 rg BT 148.18 178.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 165.48 178.10 Td (by ) Tj ET Q q 0 0 0 rg BT 178.35 178.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 216.75 178.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 237.38 178.10 Td (receipts ) Tj ET Q q 0 0 0 rg BT 271.34 178.10 Td (from ) Tj ET Q q 0 0 0 rg BT 293.65 178.10 Td (home ) Tj ET Q q 0 0 0 rg BT 318.73 178.10 Td (deliveries, ) Tj ET Q q 0 0 0 rg BT 362.97 178.10 Td (we ) Tj ET Q q 0 0 0 rg BT 377.49 178.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 406.45 178.10 Td (to ) Tj ET Q q 0 0 0 rg BT 417.10 178.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 454.40 178.10 Td (to ) Tj ET Q q 0 0 0 rg BT 465.04 178.10 Td (borrow ) Tj ET Q q 0 0 0 rg BT 496.79 178.10 Td (under ) Tj ET Q q 0 0 0 rg BT 522.42 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 537.51 178.10 Td (Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 166.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 81.49 166.10 Td (during ) Tj ET Q q 0 0 0 rg BT 109.05 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.49 166.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.49 166.10 Td (, ) Tj ET Q q 0 0 0 rg BT 134.43 166.10 Td (with ) Tj ET Q q 0 0 0 rg BT 153.65 166.10 Td (an ) Tj ET Q q 0 0 0 rg BT 164.53 166.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 204.30 166.10 Td (peak ) Tj ET Q q 0 0 0 rg BT 224.62 166.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 256.06 166.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 304.16 166.10 Td (not ) Tj ET Q q 0 0 0 rg BT 318.38 166.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 355.36 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 364.58 166.10 Td (exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.78 166.10 Td ($325million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.17 166.10 Td (. ) Tj ET Q q 0 0 0 rg BT 449.11 166.10 Td ( ) Tj ET Q q 0 0 0 rg BT 450.45 166.10 Td (The ) Tj ET Q q 0 0 0 rg BT 467.44 166.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 492.75 166.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 524.19 166.10 Td (borrowed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 154.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.74 154.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.74 154.10 Td ( ) Tj ET Q q 0 0 0 rg BT 99.88 154.10 Td (\(and ) Tj ET Q q 0 0 0 rg BT 119.78 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 134.13 154.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 174.58 154.10 Td (peak ) Tj ET Q q 0 0 0 rg BT 195.59 154.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 227.72 154.10 Td (outstanding\) ) Tj ET Q q 0 0 0 rg BT 279.85 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.42 154.10 Td (related ) Tj ET Q q 0 0 0 rg BT 325.76 154.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 354.01 154.10 Td (are ) Tj ET Q q 0 0 0 rg BT 368.35 154.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 398.81 154.10 Td (to ) Tj ET Q q 0 0 0 rg BT 408.72 154.10 Td (numerous ) Tj ET Q q 0 0 0 rg BT 450.29 154.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 482.13 154.10 Td (including ) Tj ET Q q 0 0 0 rg BT 522.04 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 536.39 154.10 Td (timing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.09 142.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 100.23 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 111.71 142.10 Td (land ) Tj ET Q q 0 0 0 rg BT 132.08 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 149.67 142.10 Td (house ) Tj ET Q q 0 0 0 rg BT 176.15 142.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 228.73 142.10 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 285.47 142.10 Td (payroll ) Tj ET Q q 0 0 0 rg BT 316.95 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 334.53 142.10 Td (other ) Tj ET Q q 0 0 0 rg BT 358.23 142.10 Td (general ) Tj ET Q q 0 0 0 rg BT 390.80 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.39 142.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 468.75 142.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 510.50 142.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 531.41 142.10 Td (receipts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 130.10 Td (from ) Tj ET Q q 0 0 0 rg BT 72.00 130.10 Td (home ) Tj ET Q q 0 0 0 rg BT 97.28 130.10 Td (deliveries, ) Tj ET Q q 0 0 0 rg BT 141.72 130.10 Td (other ) Tj ET Q q 0 0 0 rg BT 165.33 130.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 186.16 130.10 Td (receipts ) Tj ET Q q 0 0 0 rg BT 220.31 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.82 130.10 Td (payments, ) Tj ET Q q 0 0 0 rg BT 281.70 130.10 Td (any ) Tj ET Q q 0 0 0 rg BT 299.21 130.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 328.92 130.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 363.64 130.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 414.46 130.10 Td (or ) Tj ET Q q 0 0 0 rg BT 425.86 130.10 Td (other ) Tj ET Q q 0 0 0 rg BT 449.47 130.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 492.52 130.10 Td (financings ) Tj ET Q q 0 0 0 rg BT 537.24 130.10 Td (by ) Tj ET Q q 0 0 0 rg BT 550.30 130.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 118.10 Td (Company) Tj ET Q q 0 0 0 rg BT 87.74 118.10 Td (, ) Tj ET Q q 0 0 0 rg BT 92.59 118.10 Td (any ) Tj ET Q q 0 0 0 rg BT 109.37 118.10 Td (repayments ) Tj ET Q q 0 0 0 rg BT 157.82 118.10 Td (or ) Tj ET Q q 0 0 0 rg BT 168.49 118.10 Td (redemptions ) Tj ET Q q 0 0 0 rg BT 220.28 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 230.96 118.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 279.97 118.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 299.53 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 316.32 118.10 Td (any ) Tj ET Q q 0 0 0 rg BT 333.11 118.10 Td (other ) Tj ET Q q 0 0 0 rg BT 356.00 118.10 Td (extraordinary ) Tj ET Q q 0 0 0 rg BT 412.21 118.10 Td (events ) Tj ET Q q 0 0 0 rg BT 440.11 118.10 Td (or ) Tj ET Q q 0 0 0 rg BT 450.79 118.10 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 505.73 118.10 Td (The ) Tj ET Q q 0 0 0 rg BT 523.63 118.10 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 106.10 Td (may ) Tj ET Q q 0 0 0 rg BT 69.57 106.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 115.72 106.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 160.79 106.10 Td (variation ) Tj ET Q q 0 0 0 rg BT 199.18 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 209.81 106.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 230.44 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 247.73 106.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 275.58 106.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 308.98 106.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 346.26 106.10 Td (from ) Tj ET Q q 0 0 0 rg BT 368.55 106.10 Td (week ) Tj ET Q q 0 0 0 rg BT 392.50 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 403.13 106.10 Td (week ) Tj ET Q q 0 0 0 rg BT 427.08 106.10 Td (due ) Tj ET Q q 0 0 0 rg BT 444.38 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 455.01 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 470.08 106.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 499.04 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 510.23 106.10 Td (such ) Tj ET Q q 0 0 0 rg BT 531.41 106.10 Td (receipts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 94.10 Td (payments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 72.10 Td (There ) Tj ET Q q 0 0 0 rg BT 75.82 72.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.25 72.10 Td ($49.6 ) Tj ET Q q 0 0 0 rg BT 123.76 72.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.65 72.10 Td ( ) Tj ET Q q 0 0 0 rg BT 155.66 72.10 Td (of ) Tj ET Q q 0 0 0 rg BT 166.99 72.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 194.43 72.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.77 72.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 231.54 72.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 259.54 72.10 Td (and ) Tj ET Q q 0 0 0 rg BT 276.99 72.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 326.66 72.10 Td (under ) Tj ET Q q 0 0 0 rg BT 352.43 72.10 Td (the ) Tj ET Q q 0 0 0 rg BT 367.65 72.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 395.65 72.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 429.21 72.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.43 72.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 475.77 72.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.77 72.10 Td (. ) Tj ET Q q 0 0 0 rg BT 501.27 72.10 Td ( ) Tj ET Q q 0 0 0 rg BT 504.28 72.10 Td (During ) Tj ET Q q 0 0 0 rg BT 535.61 72.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.84 72.10 Td (six ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 60.10 Td (months ) Tj ET Q q 0 0 0 rg BT 81.19 60.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 107.31 60.10 Td (June ) Tj ET Q q 0 0 0 rg BT 127.88 60.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 142.62 60.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.62 60.10 Td (, ) Tj ET Q q 0 0 0 rg BT 167.36 60.10 Td (the ) Tj ET Q q 0 0 0 rg BT 181.81 60.10 Td (average ) Tj ET Q q 0 0 0 rg BT 215.14 60.10 Td (daily ) Tj ET Q q 0 0 0 rg BT 237.37 60.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 269.61 60.10 Td (of ) Tj ET Q q 0 0 0 rg BT 280.18 60.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 306.85 60.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.42 60.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 342.43 60.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 391.33 60.10 Td (under ) Tj ET Q q 0 0 0 rg BT 416.34 60.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.80 60.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 458.03 60.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 490.83 60.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.62 60.10 Td ($44.5million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 48.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 48.10 Td (the ) Tj ET Q q 0 0 0 rg BT 81.16 48.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 124.21 48.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 156.70 48.10 Td (of ) Tj ET Q q 0 0 0 rg BT 167.53 48.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 194.47 48.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.30 48.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 230.56 48.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 279.72 48.10 Td (under ) Tj ET Q q 0 0 0 rg BT 304.99 48.10 Td (the ) Tj ET Q q 0 0 0 rg BT 319.71 48.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 347.21 48.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 380.26 48.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.31 48.10 Td ($49.6 ) Tj ET Q q 0 0 0 rg BT 423.31 48.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.20 48.10 Td (.) Tj ET Q endstream endobj 103 0 obj <><><><>] /Rotate 0 /Contents 104 0 R>> endobj 104 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.69 728.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 97.22 728.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.22 728.10 Td (, ) Tj ET Q q 0 0 0 rg BT 121.91 728.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 139.11 728.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 178.52 728.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.15 728.10 Td ($67.7 ) Tj ET Q q 0 0 0 rg BT 219.84 728.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.74 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 250.93 728.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 299.79 728.10 Td (under ) Tj ET Q q 0 0 0 rg BT 324.75 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 339.17 728.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 359.14 728.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 400.06 728.10 Td (W) Tj ET Q q 0 0 0 rg BT 408.69 728.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 454.28 728.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 505.90 728.10 Td (During ) Tj ET Q q 0 0 0 rg BT 536.43 728.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.84 728.10 Td (six ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (months ) Tj ET Q q 0 0 0 rg BT 82.91 716.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 110.75 716.10 Td (June ) Tj ET Q q 0 0 0 rg BT 133.05 716.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 149.51 716.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.51 716.10 Td (, ) Tj ET Q q 0 0 0 rg BT 175.97 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.15 716.10 Td (average ) Tj ET Q q 0 0 0 rg BT 227.20 716.10 Td (daily ) Tj ET Q q 0 0 0 rg BT 251.16 716.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 285.12 716.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 335.75 716.10 Td (under ) Tj ET Q q 0 0 0 rg BT 362.48 716.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.66 716.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 400.40 716.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 442.96 716.10 Td (W) Tj ET Q q 0 0 0 rg BT 451.60 716.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 498.56 716.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 546.95 716.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td ($44.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 704.10 Td ( ) Tj ET Q q 0 0 0 rg BT 106.56 704.10 Td (and ) Tj ET Q q 0 0 0 rg BT 124.16 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.54 704.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 183.25 704.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 216.41 704.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 266.24 704.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.96 704.10 Td ($128.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.85 704.10 Td (, ) Tj ET Q q 0 0 0 rg BT 349.51 704.10 Td (which ) Tj ET Q q 0 0 0 rg BT 377.12 704.10 Td (occurred ) Tj ET Q q 0 0 0 rg BT 415.26 704.10 Td (during ) Tj ET Q q 0 0 0 rg BT 444.53 704.10 Td (January) Tj ET Q q 0 0 0 rg BT 474.98 704.10 Td (, ) Tj ET Q q 0 0 0 rg BT 480.64 704.10 Td (while ) Tj ET Q q 0 0 0 rg BT 506.02 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.40 704.10 Td (temporary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 84.75 692.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 125.03 692.10 Td (was ) Tj ET Q q 0 0 0 rg BT 143.08 692.10 Td (in ) Tj ET Q q 0 0 0 rg BT 153.36 692.10 Td (ef) Tj ET Q q 0 0 0 rg BT 160.95 692.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 178.44 692.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.37 692.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.09 692.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 253.14 692.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 297.30 692.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 344.79 692.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.84 692.10 Td ($150.0 ) Tj ET Q q 0 0 0 rg BT 392.84 692.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.73 692.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.91 668.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 99.65 668.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.65 668.10 Td (, ) Tj ET Q q 0 0 0 rg BT 125.56 668.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 143.97 668.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 184.59 668.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.44 668.10 Td ($25.5million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.33 668.10 Td ( ) Tj ET Q q 0 0 0 rg BT 259.74 668.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 309.81 668.10 Td (under ) Tj ET Q q 0 0 0 rg BT 335.99 668.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.62 668.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 372.81 668.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 415.10 668.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 465.15 668.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 495.06 668.10 Td (. ) Tj ET Q q 0 0 0 rg BT 503.47 668.10 Td (During ) Tj ET Q q 0 0 0 rg BT 535.21 668.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.83 668.10 Td (six ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (months ) Tj ET Q q 0 0 0 rg BT 80.60 656.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 106.13 656.10 Td (June ) Tj ET Q q 0 0 0 rg BT 126.11 656.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 140.27 656.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.27 656.10 Td (, ) Tj ET Q q 0 0 0 rg BT 164.42 656.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.29 656.10 Td (average ) Tj ET Q q 0 0 0 rg BT 211.03 656.10 Td (daily ) Tj ET Q q 0 0 0 rg BT 232.67 656.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 264.32 656.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 312.64 656.10 Td (under ) Tj ET Q q 0 0 0 rg BT 337.06 656.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.93 656.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 370.37 656.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 410.90 656.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 459.19 656.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 491.40 656.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.60 656.10 Td ($19.6million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.50 656.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.12 644.10 Td (the ) Tj ET Q q 0 0 0 rg BT 80.51 644.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 123.24 644.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 155.41 644.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 204.26 644.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.99 644.10 Td ($40.1million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.88 644.10 Td (, ) Tj ET Q q 0 0 0 rg BT 280.55 644.10 Td (which ) Tj ET Q q 0 0 0 rg BT 307.17 644.10 Td (occurred ) Tj ET Q q 0 0 0 rg BT 344.32 644.10 Td (during ) Tj ET Q q 0 0 0 rg BT 372.61 644.10 Td (January) Tj ET Q q 0 0 0 rg BT 403.06 644.10 Td (, ) Tj ET Q q 0 0 0 rg BT 407.74 644.10 Td (while ) Tj ET Q q 0 0 0 rg BT 432.13 644.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.53 644.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 489.80 644.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 524.73 644.10 Td (provision ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (was ) Tj ET Q q 0 0 0 rg BT 67.55 632.10 Td (in ) Tj ET Q q 0 0 0 rg BT 77.83 632.10 Td (ef) Tj ET Q q 0 0 0 rg BT 85.42 632.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 102.90 632.10 Td (and ) Tj ET Q q 0 0 0 rg BT 119.84 632.10 Td (the ) Tj ET Q q 0 0 0 rg BT 134.56 632.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 177.61 632.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 221.77 632.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 269.26 632.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.31 632.10 Td ($50.0 ) Tj ET Q q 0 0 0 rg BT 312.31 632.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.20 632.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 610.10 Td (Universal ) Tj ET Q q 0 0 0 rg BT 91.85 610.10 Td (Shelf ) Tj ET Q q 0 0 0 rg BT 115.88 610.10 Td (Registration. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.30 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 173.66 610.10 Td (In ) Tj ET Q q 0 0 0 rg BT 184.34 610.10 Td (October ) Tj ET Q q 0 0 0 rg BT 218.90 610.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 243.76 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.33 610.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 299.57 610.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 320.25 610.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.05 610.10 Td ($400million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.44 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 380.79 610.10 Td (universal ) Tj ET Q q 0 0 0 rg BT 419.80 610.10 Td (shelf ) Tj ET Q q 0 0 0 rg BT 441.60 610.10 Td (registration ) Tj ET Q q 0 0 0 rg BT 489.49 610.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 530.17 610.10 Td (with ) Tj ET Q q 0 0 0 rg BT 550.30 610.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.10 Td (SEC, ) Tj ET Q q 0 0 0 rg BT 73.31 598.10 Td (which ) Tj ET Q q 0 0 0 rg BT 100.71 598.10 Td (registration ) Tj ET Q q 0 0 0 rg BT 149.22 598.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 190.51 598.10 Td (became ) Tj ET Q q 0 0 0 rg BT 224.01 598.10 Td (ef) Tj ET Q q 0 0 0 rg BT 231.60 598.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 261.77 598.10 Td (on ) Tj ET Q q 0 0 0 rg BT 274.74 598.10 Td (November ) Tj ET Q q 0 0 0 rg BT 319.91 598.10 Td (9, ) Tj ET Q q 0 0 0 rg BT 330.38 598.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 353.35 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 370.75 598.10 Td (will ) Tj ET Q q 0 0 0 rg BT 389.28 598.10 Td (expire ) Tj ET Q q 0 0 0 rg BT 417.23 598.10 Td (in ) Tj ET Q q 0 0 0 rg BT 427.98 598.10 Td (November ) Tj ET Q q 0 0 0 rg BT 473.15 598.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 498.62 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 501.59 598.10 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 539.56 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 550.30 598.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 586.10 Td (registration ) Tj ET Q q 0 0 0 rg BT 97.93 586.10 Td (statement, ) Tj ET Q q 0 0 0 rg BT 141.64 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.74 586.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 198.52 586.10 Td (may) Tj ET Q q 0 0 0 rg BT 215.09 586.10 Td (, ) Tj ET Q q 0 0 0 rg BT 220.47 586.10 Td (from ) Tj ET Q q 0 0 0 rg BT 242.80 586.10 Td (time ) Tj ET Q q 0 0 0 rg BT 263.46 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 274.13 586.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 297.29 586.10 Td (of) Tj ET Q q 0 0 0 rg BT 305.44 586.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 319.43 586.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 339.53 586.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 382.68 586.10 Td (common ) Tj ET Q q 0 0 0 rg BT 420.57 586.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 450.95 586.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 490.47 586.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 520.85 586.10 Td (depositary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 574.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 79.50 574.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 116.43 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 126.72 574.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 164.76 574.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 184.48 574.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 227.25 574.10 Td (common ) Tj ET Q q 0 0 0 rg BT 264.75 574.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 294.75 574.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 333.89 574.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 363.89 574.10 Td (depositary ) Tj ET Q q 0 0 0 rg BT 408.05 574.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 435.55 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 446.38 574.10 Td (units ) Tj ET Q q 0 0 0 rg BT 468.34 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.18 574.10 Td (two ) Tj ET Q q 0 0 0 rg BT 496.68 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 507.52 574.10 Td (more ) Tj ET Q q 0 0 0 rg BT 530.57 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 541.41 574.10 Td (those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 562.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 92.29 562.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 117.59 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 127.90 562.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 165.96 562.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 185.70 562.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 228.49 562.10 Td (common ) Tj ET Q q 0 0 0 rg BT 266.01 562.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 296.03 562.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 335.19 562.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 362.71 562.10 Td (or ) Tj ET Q q 0 0 0 rg BT 373.56 562.10 Td (depositary ) Tj ET Q q 0 0 0 rg BT 417.75 562.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 447.76 562.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 471.40 562.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 509.46 562.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 548.08 562.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 550.10 Td (units. ) Tj ET Q q 0 0 0 rg BT 73.95 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.27 550.10 Td (The ) Tj ET Q q 0 0 0 rg BT 94.31 550.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 122.93 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 139.87 550.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 172.36 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.19 550.10 Td (of) Tj ET Q q 0 0 0 rg BT 191.34 550.10 Td (ferings, ) Tj ET Q q 0 0 0 rg BT 224.11 550.10 Td (if ) Tj ET Q q 0 0 0 rg BT 232.72 550.10 Td (any) Tj ET Q q 0 0 0 rg BT 246.51 550.10 Td (, ) Tj ET Q q 0 0 0 rg BT 251.51 550.10 Td (will ) Tj ET Q q 0 0 0 rg BT 269.56 550.10 Td (depend ) Tj ET Q q 0 0 0 rg BT 300.94 550.10 Td (on ) Tj ET Q q 0 0 0 rg BT 313.44 550.10 Td (market ) Tj ET Q q 0 0 0 rg BT 343.70 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 360.64 550.10 Td (general ) Tj ET Q q 0 0 0 rg BT 392.57 550.10 Td (business ) Tj ET Q q 0 0 0 rg BT 428.96 550.10 Td (conditions.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 526.53505859375 m 202.6787109375 526.53505859375 l s q 0 0 0 rg BT 49.50 528.10 Td (CONTRACTUAL) Tj ET Q q 0 0 0 rg BT 127.29 528.10 Td ( ) Tj ET Q q 0 0 0 rg BT 129.79 528.10 Td (OBLIGA) Tj ET Q q 0 0 0 rg BT 169.06 528.10 Td (TIONS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 504.10 Td (There ) Tj ET Q q 0 0 0 rg BT 77.67 504.10 Td (have ) Tj ET Q q 0 0 0 rg BT 101.39 504.10 Td (been ) Tj ET Q q 0 0 0 rg BT 125.12 504.10 Td (no ) Tj ET Q q 0 0 0 rg BT 139.97 504.10 Td (material ) Tj ET Q q 0 0 0 rg BT 177.58 504.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 214.64 504.10 Td (to ) Tj ET Q q 0 0 0 rg BT 227.26 504.10 Td (our ) Tj ET Q q 0 0 0 rg BT 245.44 504.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 294.71 504.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 344.01 504.10 Td (appearing ) Tj ET Q q 0 0 0 rg BT 388.28 504.10 Td (in ) Tj ET Q q 0 0 0 rg BT 400.91 504.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.98 504.10 Td (Contractual ) Tj ET Q q 0 0 0 rg BT 469.48 504.10 Td (Obligations ) Tj ET Q q 0 0 0 rg BT 520.99 504.10 Td (section ) Tj ET Q q 0 0 0 rg BT 554.17 504.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 492.10 Td (Management) Tj ET Q q 0 0 0 rg BT 104.48 492.10 Td (s ) Tj ET Q q 0 0 0 rg BT 110.50 492.10 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 156.53 492.10 Td (and ) Tj ET Q q 0 0 0 rg BT 172.63 492.10 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 209.76 492.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.22 492.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 259.56 492.10 Td (Condition ) Tj ET Q q 0 0 0 rg BT 301.70 492.10 Td (and ) Tj ET Q q 0 0 0 rg BT 318.27 492.10 Td (Results ) Tj ET Q q 0 0 0 rg BT 349.85 492.10 Td (of ) Tj ET Q q 0 0 0 rg BT 360.31 492.10 Td (Operations ) Tj ET Q q 0 0 0 rg BT 406.32 492.10 Td (included ) Tj ET Q q 0 0 0 rg BT 442.88 492.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.79 492.10 Td (our ) Tj ET Q q 0 0 0 rg BT 467.78 492.10 Td (Annual ) Tj ET Q q 0 0 0 rg BT 499.35 492.10 Td (Report ) Tj ET Q q 0 0 0 rg BT 528.70 492.10 Td (on ) Tj ET Q q 0 0 0 rg BT 540.83 492.10 Td (Form ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 480.10 Td (10-K ) Tj ET Q q 0 0 0 rg BT 72.62 480.10 Td (for ) Tj ET Q q 0 0 0 rg BT 86.85 480.10 Td (the ) Tj ET Q q 0 0 0 rg BT 101.64 480.10 Td (year ) Tj ET Q q 0 0 0 rg BT 121.42 480.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.87 480.10 Td (December ) Tj ET Q q 0 0 0 rg BT 191.52 480.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 206.59 480.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.59 480.10 Td (, ) Tj ET Q q 0 0 0 rg BT 231.66 480.10 Td (except ) Tj ET Q q 0 0 0 rg BT 260.33 480.10 Td (for ) Tj ET Q q 0 0 0 rg BT 274.56 480.10 Td (the ) Tj ET Q q 0 0 0 rg BT 289.35 480.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 325.80 480.10 Td (of ) Tj ET Q q 0 0 0 rg BT 336.70 480.10 Td (our ) Tj ET Q q 0 0 0 rg BT 352.60 480.10 Td ($86.3 ) Tj ET Q q 0 0 0 rg BT 377.67 480.10 Td (million ) Tj ET Q q 0 0 0 rg BT 409.13 480.10 Td (in ) Tj ET Q q 0 0 0 rg BT 419.48 480.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 460.92 480.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 499.03 480.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 531.59 480.10 Td (of ) Tj ET Q q 0 0 0 rg BT 542.50 480.10 Td (2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 468.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 100.05 468.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 129.50 468.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 186.16 468.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 212.83 468.10 Td (during ) Tj ET Q q 0 0 0 rg BT 242.27 468.10 Td (the ) Tj ET Q q 0 0 0 rg BT 257.83 468.10 Td (first ) Tj ET Q q 0 0 0 rg BT 277.27 468.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 308.92 468.10 Td (of ) Tj ET Q q 0 0 0 rg BT 320.59 468.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 346.43 468.10 Td (as ) Tj ET Q q 0 0 0 rg BT 358.10 468.10 Td (further ) Tj ET Q q 0 0 0 rg BT 388.64 468.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 430.31 468.10 Td (above ) Tj ET Q q 0 0 0 rg BT 457.52 468.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 468.63818359375 466.7669921875 m 496.4140625 466.7669921875 l s q 0 0 1 rg BT 468.64 468.10 Td (Note ) Tj ET Q q 0 0 1 rg BT 491.41 468.10 Td (8) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 496.41 468.10 Td ( ) Tj ET Q q 0 0 0 rg BT 499.75 468.10 Td (to ) Tj ET Q q 0 0 0 rg BT 510.87 468.10 Td (our ) Tj ET Q q 0 0 0 rg BT 527.53 468.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 456.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 94.21 456.10 Td (and ) Tj ET Q q 0 0 0 rg BT 111.15 456.10 Td (in ) Tj ET Q q 0 0 0 rg BT 121.43 456.10 Td (our ) Tj ET Q q 0 0 0 rg BT 137.26 456.10 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 176.98 456.10 Td (and ) Tj ET Q q 0 0 0 rg BT 193.92 456.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 225.30 456.10 Td (Resources ) Tj ET Q q 0 0 0 rg BT 268.90 456.10 Td (section.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 430.53505859375 m 245.45703125 430.53505859375 l s q 0 0 0 rg BT 49.50 432.10 Td (OFF-BALANCE ) Tj ET Q q 0 0 0 rg BT 124.22 432.10 Td (SHEET) Tj ET Q q 0 0 0 rg BT 157.39 432.10 Td ( ) Tj ET Q q 0 0 0 rg BT 159.34 432.10 Td (ARRANGEMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 410.10 Td (Notes ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 75.27294921875 408.7669921875 m 80.27294921875 408.7669921875 l s q 0 0 1 rg BT 75.27 410.10 Td (3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 80.27 410.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 85.2158203125 408.7669921875 m 90.2158203125 408.7669921875 l s q 0 0 1 rg BT 85.22 410.10 Td (5) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 90.22 410.10 Td ( ) Tj ET Q q 0 0 0 rg BT 92.66 410.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 109.5400390625 408.7669921875 m 114.5400390625 408.7669921875 l s q 0 0 1 rg BT 109.54 410.10 Td (6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 114.54 410.10 Td ( ) Tj ET Q q 0 0 0 rg BT 116.98 410.10 Td (to ) Tj ET Q q 0 0 0 rg BT 127.20 410.10 Td (our ) Tj ET Q q 0 0 0 rg BT 142.98 410.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 180.40 410.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 225.06 410.10 Td (discuss ) Tj ET Q q 0 0 0 rg BT 256.39 410.10 Td (our ) Tj ET Q q 0 0 0 rg BT 272.16 410.10 Td (of) Tj ET Q q 0 0 0 rg BT 280.31 410.10 Td (f-balance ) Tj ET Q q 0 0 0 rg BT 319.95 410.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 342.94 410.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 399.24 410.10 Td (with ) Tj ET Q q 0 0 0 rg BT 419.46 410.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 450.22 410.10 Td (to ) Tj ET Q q 0 0 0 rg BT 460.44 410.10 Td (land ) Tj ET Q q 0 0 0 rg BT 480.10 410.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 526.43 410.10 Td (contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 398.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.15 398.10 Td (option ) Tj ET Q q 0 0 0 rg BT 93.92 398.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 144.16 398.10 Td (and ) Tj ET Q q 0 0 0 rg BT 160.81 398.10 Td (land ) Tj ET Q q 0 0 0 rg BT 180.24 398.10 Td (development ) Tj ET Q q 0 0 0 rg BT 234.10 398.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 254.64 398.10 Td (ventures, ) Tj ET Q q 0 0 0 rg BT 293.23 398.10 Td (including ) Tj ET Q q 0 0 0 rg BT 333.22 398.10 Td (the ) Tj ET Q q 0 0 0 rg BT 347.64 398.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 374.84 398.10 Td (and ) Tj ET Q q 0 0 0 rg BT 391.49 398.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 427.59 398.10 Td (of ) Tj ET Q q 0 0 0 rg BT 438.13 398.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 475.32 398.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 521.97 398.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 554.73 398.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 386.10 Td (these ) Tj ET Q q 0 0 0 rg BT 72.87 386.10 Td (items. ) Tj ET Q q 0 0 0 rg BT 99.85 386.10 Td ( ) Tj ET Q q 0 0 0 rg BT 102.68 386.10 Td (In ) Tj ET Q q 0 0 0 rg BT 113.83 386.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 151.92 386.10 Td (these ) Tj ET Q q 0 0 0 rg BT 175.29 386.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 201.44 386.10 Td (discuss ) Tj ET Q q 0 0 0 rg BT 233.15 386.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.19 386.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 276.00 386.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.26 386.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 329.97 386.10 Td (of ) Tj ET Q q 0 0 0 rg BT 341.12 386.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 371.14 386.10 Td (types ) Tj ET Q q 0 0 0 rg BT 395.07 386.10 Td (of ) Tj ET Q q 0 0 0 rg BT 406.22 386.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 463.48 386.10 Td (that ) Tj ET Q q 0 0 0 rg BT 481.30 386.10 Td (arise ) Tj ET Q q 0 0 0 rg BT 503.00 386.10 Td (in ) Tj ET Q q 0 0 0 rg BT 513.60 386.10 Td (the ) Tj ET Q q 0 0 0 rg BT 528.63 386.10 Td (ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 374.10 Td (course ) Tj ET Q q 0 0 0 rg BT 78.86 374.10 Td (of ) Tj ET Q q 0 0 0 rg BT 90.46 374.10 Td (our ) Tj ET Q q 0 0 0 rg BT 107.05 374.10 Td (land ) Tj ET Q q 0 0 0 rg BT 127.53 374.10 Td (development ) Tj ET Q q 0 0 0 rg BT 182.44 374.10 Td (and ) Tj ET Q q 0 0 0 rg BT 200.14 374.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 258.96 374.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 306.38 374.10 Td (including ) Tj ET Q q 0 0 0 rg BT 347.41 374.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 405.12 374.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.71 374.10 Td (land ) Tj ET Q q 0 0 0 rg BT 437.19 374.10 Td (development ) Tj ET Q q 0 0 0 rg BT 492.10 374.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 513.70 374.10 Td (ventures ) Tj ET Q q 0 0 0 rg BT 550.84 374.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 362.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.44 362.10 Td (we ) Tj ET Q q 0 0 0 rg BT 90.60 362.10 Td (might ) Tj ET Q q 0 0 0 rg BT 116.43 362.10 Td (be ) Tj ET Q q 0 0 0 rg BT 128.37 362.10 Td (obligated.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.76 340.10 Td (of) Tj ET Q q 0 0 0 rg BT 76.91 340.10 Td (f-balance ) Tj ET Q q 0 0 0 rg BT 117.82 340.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 142.07 340.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 199.65 340.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 233.90 340.10 Td (to ) Tj ET Q q 0 0 0 rg BT 245.39 340.10 Td (our ) Tj ET Q q 0 0 0 rg BT 262.43 340.10 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 321.69 340.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 367.06 340.10 Td (include ) Tj ET Q q 0 0 0 rg BT 400.20 340.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 422.25 340.10 Td (venture ) Tj ET Q q 0 0 0 rg BT 455.95 340.10 Td (arrangements, ) Tj ET Q q 0 0 0 rg BT 516.02 340.10 Td (land ) Tj ET Q q 0 0 0 rg BT 536.95 340.10 Td (option ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 328.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 100.09 328.10 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 145.41 328.10 Td (and ) Tj ET Q q 0 0 0 rg BT 162.40 328.10 Td (indemnifications ) Tj ET Q q 0 0 0 rg BT 232.17 328.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 275.83 328.10 Td (with ) Tj ET Q q 0 0 0 rg BT 296.16 328.10 Td (acquiring ) Tj ET Q q 0 0 0 rg BT 336.49 328.10 Td (and ) Tj ET Q q 0 0 0 rg BT 353.49 328.10 Td (developing ) Tj ET Q q 0 0 0 rg BT 400.48 328.10 Td (land, ) Tj ET Q q 0 0 0 rg BT 422.76 328.10 Td (and ) Tj ET Q q 0 0 0 rg BT 439.76 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.53 328.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 490.97 328.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.86 328.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 528.85 328.10 Td (of ) Tj ET Q q 0 0 0 rg BT 539.74 328.10 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 316.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.95 316.10 Td (completion ) Tj ET Q q 0 0 0 rg BT 114.94 316.10 Td (bonds. ) Tj ET Q q 0 0 0 rg BT 144.34 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.35 316.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 165.91 316.10 Td (use ) Tj ET Q q 0 0 0 rg BT 182.25 316.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.59 316.10 Td (these ) Tj ET Q q 0 0 0 rg BT 217.14 316.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 274.01 316.10 Td (is ) Tj ET Q q 0 0 0 rg BT 283.69 316.10 Td (for ) Tj ET Q q 0 0 0 rg BT 298.36 316.10 Td (the ) Tj ET Q q 0 0 0 rg BT 313.58 316.10 Td (purpose ) Tj ET Q q 0 0 0 rg BT 348.25 316.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.59 316.10 Td (securing ) Tj ET Q q 0 0 0 rg BT 396.47 316.10 Td (the ) Tj ET Q q 0 0 0 rg BT 411.70 316.10 Td (most ) Tj ET Q q 0 0 0 rg BT 434.15 316.10 Td (desirable ) Tj ET Q q 0 0 0 rg BT 473.25 316.10 Td (lots ) Tj ET Q q 0 0 0 rg BT 490.71 316.10 Td (on ) Tj ET Q q 0 0 0 rg BT 503.72 316.10 Td (which ) Tj ET Q q 0 0 0 rg BT 531.17 316.10 Td (to ) Tj ET Q q 0 0 0 rg BT 541.95 316.10 Td (build ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 304.10 Td (homes ) Tj ET Q q 0 0 0 rg BT 78.68 304.10 Td (for ) Tj ET Q q 0 0 0 rg BT 93.41 304.10 Td (our ) Tj ET Q q 0 0 0 rg BT 109.81 304.10 Td (homebuyers ) Tj ET Q q 0 0 0 rg BT 161.76 304.10 Td (in ) Tj ET Q q 0 0 0 rg BT 172.61 304.10 Td (a ) Tj ET Q q 0 0 0 rg BT 180.11 304.10 Td (manner ) Tj ET Q q 0 0 0 rg BT 213.17 304.10 Td (that ) Tj ET Q q 0 0 0 rg BT 231.24 304.10 Td (we ) Tj ET Q q 0 0 0 rg BT 245.97 304.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 277.91 304.10 Td (reduces ) Tj ET Q q 0 0 0 rg BT 311.52 304.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.80 304.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 357.64 304.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 375.71 304.10 Td (to ) Tj ET Q q 0 0 0 rg BT 386.56 304.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.84 304.10 Td (Company) Tj ET Q q 0 0 0 rg BT 440.08 304.10 Td (.) Tj ET Q q 0 0 0 rg BT 447.03 304.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 496.93 304.10 Td (, ) Tj ET Q q 0 0 0 rg BT 502.50 304.10 Td (in ) Tj ET Q q 0 0 0 rg BT 513.35 304.10 Td (the ) Tj ET Q q 0 0 0 rg BT 528.64 304.10 Td (ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.10 Td (course ) Tj ET Q q 0 0 0 rg BT 78.10 292.10 Td (of ) Tj ET Q q 0 0 0 rg BT 88.93 292.10 Td (its ) Tj ET Q q 0 0 0 rg BT 100.88 292.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 139.77 292.10 Td (M/I ) Tj ET Q q 0 0 0 rg BT 157.27 292.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 196.98 292.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 223.37 292.10 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 268.63 292.10 Td (and ) Tj ET Q q 0 0 0 rg BT 285.56 292.10 Td (indemnities ) Tj ET Q q 0 0 0 rg BT 334.72 292.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 367.77 292.10 Td (to ) Tj ET Q q 0 0 0 rg BT 378.04 292.10 Td (the ) Tj ET Q q 0 0 0 rg BT 392.76 292.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 410.81 292.10 Td (of ) Tj ET Q q 0 0 0 rg BT 421.64 292.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 445.25 292.10 Td (to ) Tj ET Q q 0 0 0 rg BT 455.53 292.10 Td (third ) Tj ET Q q 0 0 0 rg BT 476.91 292.10 Td (parties.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 270.10 Td (Land ) Tj ET Q q 0 0 0 rg BT 73.96 270.10 Td (Option ) Tj ET Q q 0 0 0 rg BT 104.67 270.10 Td (Agreements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.06 270.10 Td (In ) Tj ET Q q 0 0 0 rg BT 172.18 270.10 Td (the ) Tj ET Q q 0 0 0 rg BT 187.19 270.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 223.85 270.10 Td (course ) Tj ET Q q 0 0 0 rg BT 252.74 270.10 Td (of ) Tj ET Q q 0 0 0 rg BT 263.86 270.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 303.04 270.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.05 270.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 359.73 270.10 Td (enters ) Tj ET Q q 0 0 0 rg BT 386.39 270.10 Td (into ) Tj ET Q q 0 0 0 rg BT 404.74 270.10 Td (land ) Tj ET Q q 0 0 0 rg BT 424.74 270.10 Td (option ) Tj ET Q q 0 0 0 rg BT 453.09 270.10 Td (or ) Tj ET Q q 0 0 0 rg BT 464.21 270.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 502.54 270.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 550.86 270.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.61 258.10 Td (we ) Tj ET Q q 0 0 0 rg BT 90.95 258.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 130.82 258.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 147.93 258.10 Td (non-refundable ) Tj ET Q q 0 0 0 rg BT 211.69 258.10 Td (deposits. ) Tj ET Q q 0 0 0 rg BT 249.64 258.10 Td ( ) Tj ET Q q 0 0 0 rg BT 252.31 258.10 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 289.99 258.10 Td (to ) Tj ET Q q 0 0 0 rg BT 300.44 258.10 Td (these ) Tj ET Q q 0 0 0 rg BT 323.66 258.10 Td (land ) Tj ET Q q 0 0 0 rg BT 343.55 258.10 Td (option ) Tj ET Q q 0 0 0 rg BT 371.78 258.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 422.49 258.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.38 258.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 478.94 258.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 516.05 258.10 Td (a ) Tj ET Q q 0 0 0 rg BT 523.16 258.10 Td (deposit ) Tj ET Q q 0 0 0 rg BT 554.72 258.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.37 246.10 Td (seller ) Tj ET Q q 0 0 0 rg BT 90.68 246.10 Td (as ) Tj ET Q q 0 0 0 rg BT 102.66 246.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 160.19 246.10 Td (for ) Tj ET Q q 0 0 0 rg BT 175.50 246.10 Td (the ) Tj ET Q q 0 0 0 rg BT 191.37 246.10 Td (right ) Tj ET Q q 0 0 0 rg BT 213.91 246.10 Td (to ) Tj ET Q q 0 0 0 rg BT 225.35 246.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 264.54 246.10 Td (land ) Tj ET Q q 0 0 0 rg BT 285.41 246.10 Td (at ) Tj ET Q q 0 0 0 rg BT 296.28 246.10 Td (dif) Tj ET Q q 0 0 0 rg BT 307.21 246.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 334.18 246.10 Td (times ) Tj ET Q q 0 0 0 rg BT 359.49 246.10 Td (in ) Tj ET Q q 0 0 0 rg BT 370.93 246.10 Td (the ) Tj ET Q q 0 0 0 rg BT 386.80 246.10 Td (future, ) Tj ET Q q 0 0 0 rg BT 416.83 246.10 Td (usually ) Tj ET Q q 0 0 0 rg BT 449.37 246.10 Td (at ) Tj ET Q q 0 0 0 rg BT 460.24 246.10 Td (predetermined ) Tj ET Q q 0 0 0 rg BT 521.64 246.10 Td (prices. ) Tj ET Q q 0 0 0 rg BT 554.17 246.10 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 96.34 234.10 Td (with ) Tj ET Q q 0 0 0 rg BT 115.59 234.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 136.92 234.10 Td (810, ) Tj ET Q q 0 0 0 rg BT 156.31 234.10 Td (we ) Tj ET Q q 0 0 0 rg BT 169.85 234.10 Td (analyze ) Tj ET Q q 0 0 0 rg BT 202.26 234.10 Td (our ) Tj ET Q q 0 0 0 rg BT 217.48 234.10 Td (land ) Tj ET Q q 0 0 0 rg BT 236.57 234.10 Td (option ) Tj ET Q q 0 0 0 rg BT 264.01 234.10 Td (or ) Tj ET Q q 0 0 0 rg BT 274.23 234.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 311.65 234.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 359.06 234.10 Td (to ) Tj ET Q q 0 0 0 rg BT 368.72 234.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 410.58 234.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 444.67 234.10 Td (the ) Tj ET Q q 0 0 0 rg BT 458.77 234.10 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 517.86 234.10 Td (land ) Tj ET Q q 0 0 0 rg BT 536.96 234.10 Td (sellers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.23 222.10 Td (VIEs ) Tj ET Q q 0 0 0 rg BT 87.50 222.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 107.15 222.10 Td (if ) Tj ET Q q 0 0 0 rg BT 115.97 222.10 Td (so, ) Tj ET Q q 0 0 0 rg BT 130.08 222.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 165.01 222.10 Td (we ) Tj ET Q q 0 0 0 rg BT 179.38 222.10 Td (are ) Tj ET Q q 0 0 0 rg BT 194.31 222.10 Td (the ) Tj ET Q q 0 0 0 rg BT 209.24 222.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 243.61 222.10 Td (beneficiary) Tj ET Q q 0 0 0 rg BT 287.93 222.10 Td (. ) Tj ET Q q 0 0 0 rg BT 293.15 222.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.26 222.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 335.76 222.10 Td (we ) Tj ET Q q 0 0 0 rg BT 350.14 222.10 Td (do ) Tj ET Q q 0 0 0 rg BT 362.85 222.10 Td (not ) Tj ET Q q 0 0 0 rg BT 378.35 222.10 Td (have ) Tj ET Q q 0 0 0 rg BT 399.94 222.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 422.09 222.10 Td (title ) Tj ET Q q 0 0 0 rg BT 440.36 222.10 Td (to ) Tj ET Q q 0 0 0 rg BT 450.85 222.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.79 222.10 Td (optioned ) Tj ET Q q 0 0 0 rg BT 503.50 222.10 Td (land, ) Tj ET Q q 0 0 0 rg BT 525.33 222.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 547.50 222.10 Td (810 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 84.36 210.10 Td (a ) Tj ET Q q 0 0 0 rg BT 91.45 210.10 Td (company ) Tj ET Q q 0 0 0 rg BT 130.76 210.10 Td (to ) Tj ET Q q 0 0 0 rg BT 141.19 210.10 Td (consolidate ) Tj ET Q q 0 0 0 rg BT 189.39 210.10 Td (a ) Tj ET Q q 0 0 0 rg BT 196.28 210.10 Td (VIE ) Tj ET Q q 0 0 0 rg BT 215.60 210.10 Td (if ) Tj ET Q q 0 0 0 rg BT 224.36 210.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.23 210.10 Td (company ) Tj ET Q q 0 0 0 rg BT 278.54 210.10 Td (is ) Tj ET Q q 0 0 0 rg BT 287.86 210.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 335.49 210.10 Td (to ) Tj ET Q q 0 0 0 rg BT 345.92 210.10 Td (be ) Tj ET Q q 0 0 0 rg BT 358.02 210.10 Td (the ) Tj ET Q q 0 0 0 rg BT 372.88 210.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 407.19 210.10 Td (beneficiary) Tj ET Q q 0 0 0 rg BT 451.51 210.10 Td (. ) Tj ET Q q 0 0 0 rg BT 456.67 210.10 Td ( ) Tj ET Q q 0 0 0 rg BT 459.32 210.10 Td (In ) Tj ET Q q 0 0 0 rg BT 470.30 210.10 Td (cases ) Tj ET Q q 0 0 0 rg BT 494.05 210.10 Td (where ) Tj ET Q q 0 0 0 rg BT 521.14 210.10 Td (we ) Tj ET Q q 0 0 0 rg BT 535.45 210.10 Td (are ) Tj ET Q q 0 0 0 rg BT 550.31 210.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 82.88 198.10 Td (beneficiary) Tj ET Q q 0 0 0 rg BT 127.20 198.10 Td (, ) Tj ET Q q 0 0 0 rg BT 131.42 198.10 Td (even ) Tj ET Q q 0 0 0 rg BT 152.02 198.10 Td (though ) Tj ET Q q 0 0 0 rg BT 181.52 198.10 Td (we ) Tj ET Q q 0 0 0 rg BT 194.91 198.10 Td (do ) Tj ET Q q 0 0 0 rg BT 206.63 198.10 Td (not ) Tj ET Q q 0 0 0 rg BT 221.13 198.10 Td (have ) Tj ET Q q 0 0 0 rg BT 241.73 198.10 Td (title ) Tj ET Q q 0 0 0 rg BT 259.00 198.10 Td (to ) Tj ET Q q 0 0 0 rg BT 268.50 198.10 Td (such ) Tj ET Q q 0 0 0 rg BT 288.56 198.10 Td (land, ) Tj ET Q q 0 0 0 rg BT 310.00 198.10 Td (we ) Tj ET Q q 0 0 0 rg BT 323.38 198.10 Td (are ) Tj ET Q q 0 0 0 rg BT 337.31 198.10 Td (required ) Tj ET Q q 0 0 0 rg BT 372.35 198.10 Td (to ) Tj ET Q q 0 0 0 rg BT 381.85 198.10 Td (consolidate ) Tj ET Q q 0 0 0 rg BT 429.11 198.10 Td (these ) Tj ET Q q 0 0 0 rg BT 451.38 198.10 Td (purchase/option ) Tj ET Q q 0 0 0 rg BT 516.98 198.10 Td (agreements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.81 186.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 95.21 186.10 Td (such ) Tj ET Q q 0 0 0 rg BT 116.41 186.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 142.61 186.10 Td (and ) Tj ET Q q 0 0 0 rg BT 159.91 186.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 200.00 186.10 Td (as ) Tj ET Q q 0 0 0 rg BT 211.20 186.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 266.84 186.10 Td (Inventory ) Tj ET Q q 0 0 0 rg BT 308.58 186.10 Td (not ) Tj ET Q q 0 0 0 rg BT 324.23 186.10 Td (Owned ) Tj ET Q q 0 0 0 rg BT 355.98 186.10 Td (in ) Tj ET Q q 0 0 0 rg BT 366.63 186.10 Td (our ) Tj ET Q q 0 0 0 rg BT 382.83 186.10 Td (Unaudited ) Tj ET Q q 0 0 0 rg BT 427.35 186.10 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 474.66 186.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 530.30 186.10 Td (Balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.10 Td (Sheets. ) Tj ET Q q 0 0 0 rg BT 80.42 174.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.22 174.10 Td (At ) Tj ET Q q 0 0 0 rg BT 94.52 174.10 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.61 174.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 150.25 174.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.25 174.10 Td ( ) Tj ET Q q 0 0 0 rg BT 172.56 174.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.31 174.10 Td (December ) Tj ET Q q 0 0 0 rg BT 232.70 174.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 247.51 174.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.51 174.10 Td (, ) Tj ET Q q 0 0 0 rg BT 272.32 174.10 Td (we ) Tj ET Q q 0 0 0 rg BT 286.28 174.10 Td (have ) Tj ET Q q 0 0 0 rg BT 307.47 174.10 Td (concluded ) Tj ET Q q 0 0 0 rg BT 350.87 174.10 Td (that ) Tj ET Q q 0 0 0 rg BT 368.18 174.10 Td (we ) Tj ET Q q 0 0 0 rg BT 382.14 174.10 Td (were ) Tj ET Q q 0 0 0 rg BT 403.88 174.10 Td (not ) Tj ET Q q 0 0 0 rg BT 418.97 174.10 Td (the ) Tj ET Q q 0 0 0 rg BT 433.49 174.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 467.46 174.10 Td (beneficiary ) Tj ET Q q 0 0 0 rg BT 514.74 174.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.38 174.10 Td (any ) Tj ET Q q 0 0 0 rg BT 541.96 174.10 Td (VIEs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.44 162.10 Td (which ) Tj ET Q q 0 0 0 rg BT 98.38 162.10 Td (we ) Tj ET Q q 0 0 0 rg BT 112.54 162.10 Td (are ) Tj ET Q q 0 0 0 rg BT 127.24 162.10 Td (purchasing ) Tj ET Q q 0 0 0 rg BT 173.62 162.10 Td (under ) Tj ET Q q 0 0 0 rg BT 198.89 162.10 Td (land ) Tj ET Q q 0 0 0 rg BT 218.61 162.10 Td (option ) Tj ET Q q 0 0 0 rg BT 246.66 162.10 Td (or ) Tj ET Q q 0 0 0 rg BT 257.49 162.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 295.53 162.10 Td (agreements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.06 140.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 99.94 140.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.94 140.10 Td (, ) Tj ET Q q 0 0 0 rg BT 126.00 140.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 186.77 140.10 Td (Inventory ) Tj ET Q q 0 0 0 rg BT 229.20 140.10 Td (Not ) Tj ET Q q 0 0 0 rg BT 247.76 140.10 Td (Owned ) Tj ET Q q 0 0 0 rg BT 284.64 140.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.75 140.10 Td ($14.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.64 140.10 Td (. ) Tj ET Q q 0 0 0 rg BT 363.70 140.10 Td ( ) Tj ET Q q 0 0 0 rg BT 366.47 140.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.03 140.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 416.91 140.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.91 140.10 Td (, ) Tj ET Q q 0 0 0 rg BT 442.97 140.10 Td (the ) Tj ET Q q 0 0 0 rg BT 458.74 140.10 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 519.51 140.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 554.17 140.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td ($14.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.39 128.10 Td ( ) Tj ET Q q 0 0 0 rg BT 105.30 128.10 Td (has ) Tj ET Q q 0 0 0 rg BT 120.54 128.10 Td (been ) Tj ET Q q 0 0 0 rg BT 141.33 128.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 181.00 128.10 Td (as ) Tj ET Q q 0 0 0 rg BT 191.25 128.10 Td (Obligation ) Tj ET Q q 0 0 0 rg BT 235.93 128.10 Td (for ) Tj ET Q q 0 0 0 rg BT 249.50 128.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 304.18 128.10 Td (Inventory ) Tj ET Q q 0 0 0 rg BT 344.97 128.10 Td (Not ) Tj ET Q q 0 0 0 rg BT 361.88 128.10 Td (Owned ) Tj ET Q q 0 0 0 rg BT 392.68 128.10 Td (on ) Tj ET Q q 0 0 0 rg BT 404.59 128.10 Td (our ) Tj ET Q q 0 0 0 rg BT 419.83 128.10 Td (Unaudited ) Tj ET Q q 0 0 0 rg BT 463.39 128.10 Td (Condensed ) Tj ET Q q 0 0 0 rg BT 509.74 128.10 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 84.20 116.10 Td (Sheets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 75.48 92.10 Td (than ) Tj ET Q q 0 0 0 rg BT 95.90 92.10 Td (the ) Tj ET Q q 0 0 0 rg BT 111.32 92.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 167.30 92.10 Td (Inventory ) Tj ET Q q 0 0 0 rg BT 209.39 92.10 Td (Not ) Tj ET Q q 0 0 0 rg BT 227.59 92.10 Td (Owned ) Tj ET Q q 0 0 0 rg BT 259.68 92.10 Td (balance, ) Tj ET Q q 0 0 0 rg BT 295.92 92.10 Td (the ) Tj ET Q q 0 0 0 rg BT 311.35 92.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 353.44 92.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 392.74 92.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 428.71 92.10 Td (that ) Tj ET Q q 0 0 0 rg BT 446.91 92.10 Td (its ) Tj ET Q q 0 0 0 rg BT 459.57 92.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 503.33 92.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 542.63 92.10 Td (as ) Tj ET Q q 0 0 0 rg BT 554.17 92.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 85.71 80.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.71 80.10 Td ( ) Tj ET Q q 0 0 0 rg BT 108.60 80.10 Td (related ) Tj ET Q q 0 0 0 rg BT 138.68 80.10 Td (to ) Tj ET Q q 0 0 0 rg BT 149.34 80.10 Td (our ) Tj ET Q q 0 0 0 rg BT 165.56 80.10 Td (land ) Tj ET Q q 0 0 0 rg BT 185.66 80.10 Td (option ) Tj ET Q q 0 0 0 rg BT 214.10 80.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 262.51 80.10 Td (is ) Tj ET Q q 0 0 0 rg BT 272.07 80.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 296.60 80.10 Td (to ) Tj ET Q q 0 0 0 rg BT 307.27 80.10 Td (the ) Tj ET Q q 0 0 0 rg BT 322.37 80.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 355.24 80.10 Td (of ) Tj ET Q q 0 0 0 rg BT 366.46 80.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.56 80.10 Td (Company) Tj ET Q q 0 0 0 rg BT 423.22 80.10 Td (s ) Tj ET Q q 0 0 0 rg BT 430.00 80.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 479.55 80.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 515.21 80.10 Td (and ) Tj ET Q q 0 0 0 rg BT 532.53 80.10 Td (prepaid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 95.69 68.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 120.50 68.10 Td (which ) Tj ET Q q 0 0 0 rg BT 147.25 68.10 Td (totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.77 68.10 Td ($53.0 ) Tj ET Q q 0 0 0 rg BT 201.58 68.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.47 68.10 Td (, ) Tj ET Q q 0 0 0 rg BT 235.28 68.10 Td (including ) Tj ET Q q 0 0 0 rg BT 275.36 68.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 295.44 68.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 330.53 68.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.17 68.10 Td ($33.8 ) Tj ET Q q 0 0 0 rg BT 365.98 68.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.87 68.10 Td (, ) Tj ET Q q 0 0 0 rg BT 399.68 68.10 Td (prepaid ) Tj ET Q q 0 0 0 rg BT 431.98 68.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 478.17 68.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 500.48 68.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.12 68.10 Td ($7.8million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 68.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 76.43 56.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.26 56.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 112.53 56.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.36 56.10 Td ($7.3 ) Tj ET Q q 0 0 0 rg BT 143.36 56.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.25 56.10 Td ( ) Tj ET Q q 0 0 0 rg BT 174.75 56.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.69 56.10 Td ($4.1 ) Tj ET Q q 0 0 0 rg BT 211.69 56.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.58 56.10 Td ( ) Tj ET Q q 0 0 0 rg BT 243.08 56.10 Td (of ) Tj ET Q q 0 0 0 rg BT 253.91 56.10 Td (other ) Tj ET Q q 0 0 0 rg BT 276.96 56.10 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 315.55 56.10 Td (deposits.) Tj ET Q endstream endobj 105 0 obj <>] /Rotate 0 /Contents 106 0 R>> endobj 106 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (52) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (Letters ) Tj ET Q q 0 0 0 rg BT 79.82 740.25 Td (of ) Tj ET Q q 0 0 0 rg BT 90.14 740.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 117.69 740.25 Td (and ) Tj ET Q q 0 0 0 rg BT 135.24 740.25 Td (Completion ) Tj ET Q q 0 0 0 rg BT 185.02 740.25 Td (Bonds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.64 740.25 Td () Tj ET Q q 0 0 0 rg BT 218.46 740.25 Td (The ) Tj ET Q q 0 0 0 rg BT 236.00 740.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 276.88 740.25 Td (provides ) Tj ET Q q 0 0 0 rg BT 313.31 740.25 Td (standby ) Tj ET Q q 0 0 0 rg BT 346.41 740.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 372.83 740.25 Td (of ) Tj ET Q q 0 0 0 rg BT 383.16 740.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 407.91 740.25 Td (and ) Tj ET Q q 0 0 0 rg BT 424.34 740.25 Td (completion ) Tj ET Q q 0 0 0 rg BT 471.33 740.25 Td (bonds ) Tj ET Q q 0 0 0 rg BT 497.21 740.25 Td (for ) Tj ET Q q 0 0 0 rg BT 510.86 740.25 Td (development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.25 Td (work ) Tj ET Q q 0 0 0 rg BT 72.69 728.25 Td (in ) Tj ET Q q 0 0 0 rg BT 83.12 728.25 Td (progress, ) Tj ET Q q 0 0 0 rg BT 122.14 728.25 Td (deposits ) Tj ET Q q 0 0 0 rg BT 157.56 728.25 Td (on ) Tj ET Q q 0 0 0 rg BT 170.21 728.25 Td (land ) Tj ET Q q 0 0 0 rg BT 190.07 728.25 Td (and ) Tj ET Q q 0 0 0 rg BT 207.15 728.25 Td (lot ) Tj ET Q q 0 0 0 rg BT 220.35 728.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 258.53 728.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 306.70 728.25 Td (and ) Tj ET Q q 0 0 0 rg BT 323.78 728.25 Td (miscellaneous ) Tj ET Q q 0 0 0 rg BT 383.08 728.25 Td (deposits. ) Tj ET Q q 0 0 0 rg BT 422.92 728.25 Td (As ) Tj ET Q q 0 0 0 rg BT 436.67 728.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.64 728.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 483.62 728.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.62 728.25 Td (, ) Tj ET Q q 0 0 0 rg BT 508.76 728.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.62 728.25 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (had ) Tj ET Q q 0 0 0 rg BT 67.08 716.25 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.90 716.25 Td ($198.2 ) Tj ET Q q 0 0 0 rg BT 147.54 716.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.43 716.25 Td ( ) Tj ET Q q 0 0 0 rg BT 179.58 716.25 Td (of ) Tj ET Q q 0 0 0 rg BT 191.06 716.25 Td (completion ) Tj ET Q q 0 0 0 rg BT 239.19 716.25 Td (bonds ) Tj ET Q q 0 0 0 rg BT 266.23 716.25 Td (and ) Tj ET Q q 0 0 0 rg BT 283.81 716.25 Td (standby ) Tj ET Q q 0 0 0 rg BT 318.07 716.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 345.65 716.25 Td (of ) Tj ET Q q 0 0 0 rg BT 357.12 716.25 Td (credit, ) Tj ET Q q 0 0 0 rg BT 385.53 716.25 Td (some ) Tj ET Q q 0 0 0 rg BT 409.79 716.25 Td (of ) Tj ET Q q 0 0 0 rg BT 421.26 716.25 Td (which ) Tj ET Q q 0 0 0 rg BT 448.85 716.25 Td (were ) Tj ET Q q 0 0 0 rg BT 471.42 716.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 499.57 716.25 Td (to ) Tj ET Q q 0 0 0 rg BT 510.49 716.25 Td (various ) Tj ET Q q 0 0 0 rg BT 543.08 716.25 Td (local ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (governmental ) Tj ET Q q 0 0 0 rg BT 108.05 704.25 Td (entities, ) Tj ET Q q 0 0 0 rg BT 142.99 704.25 Td (that ) Tj ET Q q 0 0 0 rg BT 161.56 704.25 Td (expire ) Tj ET Q q 0 0 0 rg BT 190.11 704.25 Td (at ) Tj ET Q q 0 0 0 rg BT 200.89 704.25 Td (various ) Tj ET Q q 0 0 0 rg BT 233.89 704.25 Td (times ) Tj ET Q q 0 0 0 rg BT 259.12 704.25 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.80 704.25 Td (September ) Tj ET Q q 0 0 0 rg BT 340.13 704.25 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.13 704.25 Td (.Included ) Tj ET Q q 0 0 0 rg BT 406.18 704.25 Td (in ) Tj ET Q q 0 0 0 rg BT 417.52 704.25 Td (this ) Tj ET Q q 0 0 0 rg BT 435.54 704.25 Td (total ) Tj ET Q q 0 0 0 rg BT 456.88 704.25 Td (are: ) Tj ET Q q 0 0 0 rg BT 475.43 704.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.65 704.25 Td ($140.8 ) Tj ET Q q 0 0 0 rg BT 521.72 704.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.61 704.25 Td ( ) Tj ET Q q 0 0 0 rg BT 554.18 704.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 102.87 692.25 Td (and ) Tj ET Q q 0 0 0 rg BT 120.15 692.25 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 173.53 692.25 Td (bonds ) Tj ET Q q 0 0 0 rg BT 200.27 692.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.55 692.25 Td ($42.5 ) Tj ET Q q 0 0 0 rg BT 242.90 692.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.79 692.25 Td ( ) Tj ET Q q 0 0 0 rg BT 274.64 692.25 Td (of ) Tj ET Q q 0 0 0 rg BT 285.81 692.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 339.18 692.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 366.46 692.25 Td (of ) Tj ET Q q 0 0 0 rg BT 377.64 692.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 403.25 692.25 Td (that ) Tj ET Q q 0 0 0 rg BT 421.09 692.25 Td (serve ) Tj ET Q q 0 0 0 rg BT 445.04 692.25 Td (as ) Tj ET Q q 0 0 0 rg BT 456.21 692.25 Td (completion ) Tj ET Q q 0 0 0 rg BT 504.05 692.25 Td (bonds ) Tj ET Q q 0 0 0 rg BT 530.79 692.25 Td (for ) Tj ET Q q 0 0 0 rg BT 545.30 692.25 Td (land ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (development ) Tj ET Q q 0 0 0 rg BT 105.27 680.25 Td (work ) Tj ET Q q 0 0 0 rg BT 129.94 680.25 Td (in ) Tj ET Q q 0 0 0 rg BT 141.84 680.25 Td (progress; ) Tj ET Q q 0 0 0 rg BT 182.62 680.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.39 680.25 Td ($7.3 ) Tj ET Q q 0 0 0 rg BT 220.01 680.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.90 680.25 Td ( ) Tj ET Q q 0 0 0 rg BT 253.02 680.25 Td (of ) Tj ET Q q 0 0 0 rg BT 265.47 680.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 304.57 680.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 333.12 680.25 Td (of ) Tj ET Q q 0 0 0 rg BT 345.57 680.25 Td (credit; ) Tj ET Q q 0 0 0 rg BT 375.23 680.25 Td (and ) Tj ET Q q 0 0 0 rg BT 393.79 680.25 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.57 680.25 Td ($7.6 ) Tj ET Q q 0 0 0 rg BT 431.19 680.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.08 680.25 Td ( ) Tj ET Q q 0 0 0 rg BT 464.20 680.25 Td (of ) Tj ET Q q 0 0 0 rg BT 476.65 680.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 515.75 680.25 Td (bonds.) Tj ET Q q 0 0 0 rg BT 546.96 680.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.25 Td (development ) Tj ET Q q 0 0 0 rg BT 103.92 668.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 152.22 668.25 Td (under ) Tj ET Q q 0 0 0 rg BT 177.76 668.25 Td (which ) Tj ET Q q 0 0 0 rg BT 204.97 668.25 Td (we ) Tj ET Q q 0 0 0 rg BT 219.40 668.25 Td (are ) Tj ET Q q 0 0 0 rg BT 234.38 668.25 Td (required ) Tj ET Q q 0 0 0 rg BT 270.46 668.25 Td (to ) Tj ET Q q 0 0 0 rg BT 281.01 668.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 314.33 668.25 Td (completion ) Tj ET Q q 0 0 0 rg BT 362.09 668.25 Td (bonds ) Tj ET Q q 0 0 0 rg BT 388.75 668.25 Td (or ) Tj ET Q q 0 0 0 rg BT 399.85 668.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 427.05 668.25 Td (of ) Tj ET Q q 0 0 0 rg BT 438.15 668.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 463.69 668.25 Td (are ) Tj ET Q q 0 0 0 rg BT 478.66 668.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 518.64 668.25 Td (not ) Tj ET Q q 0 0 0 rg BT 534.18 668.25 Td (subject ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.25 Td (to ) Tj ET Q q 0 0 0 rg BT 58.93 656.25 Td (a ) Tj ET Q q 0 0 0 rg BT 65.01 656.25 Td (required ) Tj ET Q q 0 0 0 rg BT 99.97 656.25 Td (completion ) Tj ET Q q 0 0 0 rg BT 146.61 656.25 Td (date ) Tj ET Q q 0 0 0 rg BT 164.91 656.25 Td (and ) Tj ET Q q 0 0 0 rg BT 181.00 656.25 Td (only ) Tj ET Q q 0 0 0 rg BT 200.42 656.25 Td (require ) Tj ET Q q 0 0 0 rg BT 230.39 656.25 Td (that ) Tj ET Q q 0 0 0 rg BT 247.03 656.25 Td (the ) Tj ET Q q 0 0 0 rg BT 260.89 656.25 Td (improvements ) Tj ET Q q 0 0 0 rg BT 319.75 656.25 Td (are ) Tj ET Q q 0 0 0 rg BT 333.60 656.25 Td (in ) Tj ET Q q 0 0 0 rg BT 343.03 656.25 Td (place ) Tj ET Q q 0 0 0 rg BT 365.77 656.25 Td (in ) Tj ET Q q 0 0 0 rg BT 375.20 656.25 Td (phases ) Tj ET Q q 0 0 0 rg BT 403.50 656.25 Td (as ) Tj ET Q q 0 0 0 rg BT 413.48 656.25 Td (houses ) Tj ET Q q 0 0 0 rg BT 442.35 656.25 Td (are ) Tj ET Q q 0 0 0 rg BT 456.20 656.25 Td (built ) Tj ET Q q 0 0 0 rg BT 476.18 656.25 Td (and ) Tj ET Q q 0 0 0 rg BT 492.27 656.25 Td (sold.In ) Tj ET Q q 0 0 0 rg BT 526.42 656.25 Td (locations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (where ) Tj ET Q q 0 0 0 rg BT 75.54 644.25 Td (development ) Tj ET Q q 0 0 0 rg BT 128.80 644.25 Td (has ) Tj ET Q q 0 0 0 rg BT 143.74 644.25 Td (progressed, ) Tj ET Q q 0 0 0 rg BT 191.17 644.25 Td (the ) Tj ET Q q 0 0 0 rg BT 205.00 644.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 236.60 644.25 Td (of ) Tj ET Q q 0 0 0 rg BT 246.54 644.25 Td (development ) Tj ET Q q 0 0 0 rg BT 299.80 644.25 Td (work ) Tj ET Q q 0 0 0 rg BT 321.97 644.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 364.12 644.25 Td (to ) Tj ET Q q 0 0 0 rg BT 373.51 644.25 Td (be ) Tj ET Q q 0 0 0 rg BT 384.56 644.25 Td (completed ) Tj ET Q q 0 0 0 rg BT 427.82 644.25 Td (is ) Tj ET Q q 0 0 0 rg BT 436.10 644.25 Td (typically ) Tj ET Q q 0 0 0 rg BT 472.70 644.25 Td (less ) Tj ET Q q 0 0 0 rg BT 489.31 644.25 Td (than ) Tj ET Q q 0 0 0 rg BT 508.14 644.25 Td (the ) Tj ET Q q 0 0 0 rg BT 521.96 644.25 Td (remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 82.00 632.25 Td (of ) Tj ET Q q 0 0 0 rg BT 92.83 632.25 Td (bonds ) Tj ET Q q 0 0 0 rg BT 119.22 632.25 Td (or ) Tj ET Q q 0 0 0 rg BT 130.05 632.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 156.98 632.25 Td (of ) Tj ET Q q 0 0 0 rg BT 167.81 632.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 193.07 632.25 Td (due ) Tj ET Q q 0 0 0 rg BT 210.01 632.25 Td (to ) Tj ET Q q 0 0 0 rg BT 220.29 632.25 Td (timing ) Tj ET Q q 0 0 0 rg BT 248.90 632.25 Td (delays ) Tj ET Q q 0 0 0 rg BT 276.95 632.25 Td (in ) Tj ET Q q 0 0 0 rg BT 287.23 632.25 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 327.50 632.25 Td (release ) Tj ET Q q 0 0 0 rg BT 357.76 632.25 Td (of ) Tj ET Q q 0 0 0 rg BT 368.59 632.25 Td (the ) Tj ET Q q 0 0 0 rg BT 383.30 632.25 Td (bonds ) Tj ET Q q 0 0 0 rg BT 409.70 632.25 Td (or ) Tj ET Q q 0 0 0 rg BT 420.53 632.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 447.46 632.25 Td (of ) Tj ET Q q 0 0 0 rg BT 458.29 632.25 Td (credit.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 610.25 Td (Guarantees ) Tj ET Q q 0 0 0 rg BT 99.58 610.25 Td (and ) Tj ET Q q 0 0 0 rg BT 117.43 610.25 Td (Indemnities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 166.33 610.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 168.83 610.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.33 610.25 Td ( ) Tj ET Q q 0 0 0 rg BT 173.63 610.25 Td (In ) Tj ET Q q 0 0 0 rg BT 184.25 610.25 Td (the ) Tj ET Q q 0 0 0 rg BT 198.76 610.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 234.93 610.25 Td (course ) Tj ET Q q 0 0 0 rg BT 263.33 610.25 Td (of ) Tj ET Q q 0 0 0 rg BT 273.95 610.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 312.64 610.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 329.93 610.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 369.44 610.25 Td (enters ) Tj ET Q q 0 0 0 rg BT 395.61 610.25 Td (into ) Tj ET Q q 0 0 0 rg BT 413.46 610.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 461.29 610.25 Td (that ) Tj ET Q q 0 0 0 rg BT 478.58 610.25 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 519.74 610.25 Td (purchasers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.25 Td (of ) Tj ET Q q 0 0 0 rg BT 59.31 598.25 Td (its ) Tj ET Q q 0 0 0 rg BT 70.23 598.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 109.47 598.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 132.06 598.25 Td (that ) Tj ET Q q 0 0 0 rg BT 148.53 598.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 165.01 598.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 203.70 598.25 Td (will ) Tj ET Q q 0 0 0 rg BT 220.73 598.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 265.51 598.25 Td (a ) Tj ET Q q 0 0 0 rg BT 271.43 598.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 290.12 598.25 Td (if ) Tj ET Q q 0 0 0 rg BT 297.71 598.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 326.39 598.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 369.53 598.25 Td (occur) Tj ET Q q 0 0 0 rg BT 391.18 598.25 Td (.) Tj ET Q q 0 0 0 rg BT 398.50 598.25 Td (The ) Tj ET Q q 0 0 0 rg BT 415.53 598.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 435.90 598.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 478.47 598.25 Td (with ) Tj ET Q q 0 0 0 rg BT 497.72 598.25 Td (these ) Tj ET Q q 0 0 0 rg BT 519.75 598.25 Td (guarantees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 586.25 Td (are ) Tj ET Q q 0 0 0 rg BT 65.93 586.25 Td (of) Tj ET Q q 0 0 0 rg BT 74.08 586.25 Td (fset ) Tj ET Q q 0 0 0 rg BT 92.73 586.25 Td (by ) Tj ET Q q 0 0 0 rg BT 106.95 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 123.39 586.25 Td (value ) Tj ET Q q 0 0 0 rg BT 149.26 586.25 Td (of ) Tj ET Q q 0 0 0 rg BT 161.81 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 178.25 586.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 225.79 586.25 Td (assets, ) Tj ET Q q 0 0 0 rg BT 255.84 586.25 Td (and ) Tj ET Q q 0 0 0 rg BT 274.50 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 290.93 586.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 334.04 586.25 Td (accrues ) Tj ET Q q 0 0 0 rg BT 368.23 586.25 Td (its ) Tj ET Q q 0 0 0 rg BT 381.90 586.25 Td (best ) Tj ET Q q 0 0 0 rg BT 402.22 586.25 Td (estimate ) Tj ET Q q 0 0 0 rg BT 439.76 586.25 Td (of ) Tj ET Q q 0 0 0 rg BT 452.31 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 468.75 586.25 Td (probable ) Tj ET Q q 0 0 0 rg BT 507.95 586.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 527.73 586.25 Td (on ) Tj ET Q q 0 0 0 rg BT 541.95 586.25 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (loans.) Tj ET Q q 0 0 0 rg BT 77.56 574.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 127.46 574.25 Td (, ) Tj ET Q q 0 0 0 rg BT 132.69 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 147.64 574.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 189.26 574.25 Td (has ) Tj ET Q q 0 0 0 rg BT 205.33 574.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 243.61 574.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 273.54 574.25 Td (other ) Tj ET Q q 0 0 0 rg BT 296.82 574.25 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 342.31 574.25 Td (and ) Tj ET Q q 0 0 0 rg BT 359.48 574.25 Td (indemnities ) Tj ET Q q 0 0 0 rg BT 408.88 574.25 Td (in ) Tj ET Q q 0 0 0 rg BT 419.39 574.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 465.99 574.25 Td (with ) Tj ET Q q 0 0 0 rg BT 486.50 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 501.45 574.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 548.07 574.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 562.25 Td (development ) Tj ET Q q 0 0 0 rg BT 103.41 562.25 Td (of ) Tj ET Q q 0 0 0 rg BT 114.00 562.25 Td (land ) Tj ET Q q 0 0 0 rg BT 133.48 562.25 Td (by ) Tj ET Q q 0 0 0 rg BT 145.74 562.25 Td (our ) Tj ET Q q 0 0 0 rg BT 161.33 562.25 Td (homebuilding ) Tj ET Q q 0 0 0 rg BT 219.14 562.25 Td (operations.Please ) Tj ET Q q 0 0 0 rg BT 296.10 562.25 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 311.1279296875 560.9169921875 m 337.826171875 560.9169921875 l s q 0 0 1 rg BT 311.13 562.25 Td (Note ) Tj ET Q q 0 0 1 rg BT 332.83 562.25 Td (5) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 337.83 562.25 Td ( ) Tj ET Q q 0 0 0 rg BT 340.09 562.25 Td (to ) Tj ET Q q 0 0 0 rg BT 350.12 562.25 Td (our ) Tj ET Q q 0 0 0 rg BT 365.71 562.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 402.95 562.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 447.43 562.25 Td (for ) Tj ET Q q 0 0 0 rg BT 461.35 562.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 503.60 562.25 Td (details ) Tj ET Q q 0 0 0 rg BT 531.96 562.25 Td (relating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 550.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.78 550.25 Td (our ) Tj ET Q q 0 0 0 rg BT 75.61 550.25 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 120.86 550.25 Td (and ) Tj ET Q q 0 0 0 rg BT 137.80 550.25 Td (indemnities.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 524.68505859375 m 217.0439453125 524.68505859375 l s q 0 0 0 rg BT 49.50 526.25 Td (INTEREST) Tj ET Q q 0 0 0 rg BT 99.90 526.25 Td ( ) Tj ET Q q 0 0 0 rg BT 102.40 526.25 Td (RA) Tj ET Q q 0 0 0 rg BT 116.10 526.25 Td (TES ) Tj ET Q q 0 0 0 rg BT 136.95 526.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 161.11 526.25 Td (INFLA) Tj ET Q q 0 0 0 rg BT 191.48 526.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 502.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.46 502.25 Td (business ) Tj ET Q q 0 0 0 rg BT 103.77 502.25 Td (is ) Tj ET Q q 0 0 0 rg BT 112.85 502.25 Td (significantly ) Tj ET Q q 0 0 0 rg BT 165.25 502.25 Td (af) Tj ET Q q 0 0 0 rg BT 172.84 502.25 Td (fected ) Tj ET Q q 0 0 0 rg BT 199.68 502.25 Td (by ) Tj ET Q q 0 0 0 rg BT 212.09 502.25 Td (general ) Tj ET Q q 0 0 0 rg BT 243.92 502.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 285.21 502.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 329.29 502.25 Td (within ) Tj ET Q q 0 0 0 rg BT 357.25 502.25 Td (the ) Tj ET Q q 0 0 0 rg BT 371.88 502.25 Td (United ) Tj ET Q q 0 0 0 rg BT 401.51 502.25 Td (States ) Tj ET Q q 0 0 0 rg BT 427.81 502.25 Td (and, ) Tj ET Q q 0 0 0 rg BT 447.16 502.25 Td (particularly) Tj ET Q q 0 0 0 rg BT 492.60 502.25 Td (, ) Tj ET Q q 0 0 0 rg BT 497.51 502.25 Td (by ) Tj ET Q q 0 0 0 rg BT 509.92 502.25 Td (the ) Tj ET Q q 0 0 0 rg BT 524.55 502.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 554.18 502.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 490.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 81.33 490.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 102.60 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 119.44 490.25 Td (inflation. ) Tj ET Q q 0 0 0 rg BT 160.72 490.25 Td (Inflation ) Tj ET Q q 0 0 0 rg BT 197.55 490.25 Td (can ) Tj ET Q q 0 0 0 rg BT 213.82 490.25 Td (have ) Tj ET Q q 0 0 0 rg BT 235.09 490.25 Td (a ) Tj ET Q q 0 0 0 rg BT 241.93 490.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 283.76 490.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 313.37 490.25 Td (on ) Tj ET Q q 0 0 0 rg BT 325.76 490.25 Td (us ) Tj ET Q q 0 0 0 rg BT 337.05 490.25 Td (because ) Tj ET Q q 0 0 0 rg BT 371.09 490.25 Td (increasing ) Tj ET Q q 0 0 0 rg BT 414.58 490.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 436.98 490.25 Td (of ) Tj ET Q q 0 0 0 rg BT 447.71 490.25 Td (land, ) Tj ET Q q 0 0 0 rg BT 469.82 490.25 Td (materials ) Tj ET Q q 0 0 0 rg BT 508.87 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 525.70 490.25 Td (labor ) Tj ET Q q 0 0 0 rg BT 548.65 490.25 Td (can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 478.25 Td (result ) Tj ET Q q 0 0 0 rg BT 74.37 478.25 Td (in ) Tj ET Q q 0 0 0 rg BT 84.81 478.25 Td (a ) Tj ET Q q 0 0 0 rg BT 91.90 478.25 Td (need ) Tj ET Q q 0 0 0 rg BT 113.44 478.25 Td (to ) Tj ET Q q 0 0 0 rg BT 123.87 478.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 159.28 478.25 Td (the ) Tj ET Q q 0 0 0 rg BT 174.15 478.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 196.25 478.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 222.78 478.25 Td (of ) Tj ET Q q 0 0 0 rg BT 233.77 478.25 Td (homes. ) Tj ET Q q 0 0 0 rg BT 265.03 478.25 Td ( ) Tj ET Q q 0 0 0 rg BT 267.69 478.25 Td (In ) Tj ET Q q 0 0 0 rg BT 278.67 478.25 Td (addition, ) Tj ET Q q 0 0 0 rg BT 316.60 478.25 Td (inflation ) Tj ET Q q 0 0 0 rg BT 353.14 478.25 Td (is ) Tj ET Q q 0 0 0 rg BT 362.47 478.25 Td (often ) Tj ET Q q 0 0 0 rg BT 385.67 478.25 Td (accompanied ) Tj ET Q q 0 0 0 rg BT 441.08 478.25 Td (by ) Tj ET Q q 0 0 0 rg BT 453.73 478.25 Td (higher ) Tj ET Q q 0 0 0 rg BT 481.94 478.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 514.03 478.25 Td (rates, ) Tj ET Q q 0 0 0 rg BT 538.06 478.25 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 466.25 Td (can ) Tj ET Q q 0 0 0 rg BT 65.91 466.25 Td (have ) Tj ET Q q 0 0 0 rg BT 87.33 466.25 Td (a ) Tj ET Q q 0 0 0 rg BT 94.30 466.25 Td (negative ) Tj ET Q q 0 0 0 rg BT 130.71 466.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 160.45 466.25 Td (on ) Tj ET Q q 0 0 0 rg BT 172.99 466.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 207.20 466.25 Td (demand ) Tj ET Q q 0 0 0 rg BT 241.39 466.25 Td (and ) Tj ET Q q 0 0 0 rg BT 258.36 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 273.11 466.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 295.65 466.25 Td (of ) Tj ET Q q 0 0 0 rg BT 306.51 466.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 346.81 466.25 Td (land ) Tj ET Q q 0 0 0 rg BT 366.57 466.25 Td (development ) Tj ET Q q 0 0 0 rg BT 420.75 466.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 459.39 466.25 Td (and ) Tj ET Q q 0 0 0 rg BT 476.36 466.25 Td (housing ) Tj ET Q q 0 0 0 rg BT 510.57 466.25 Td (construction. ) Tj ET Q q 0 0 0 rg BT 565.00 466.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 454.25 Td (Higher ) Tj ET Q q 0 0 0 rg BT 79.64 454.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 111.44 454.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 132.69 454.25 Td (also ) Tj ET Q q 0 0 0 rg BT 151.17 454.25 Td (may ) Tj ET Q q 0 0 0 rg BT 170.75 454.25 Td (decrease ) Tj ET Q q 0 0 0 rg BT 207.54 454.25 Td (our ) Tj ET Q q 0 0 0 rg BT 223.24 454.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 260.60 454.25 Td (market ) Tj ET Q q 0 0 0 rg BT 290.73 454.25 Td (by ) Tj ET Q q 0 0 0 rg BT 303.10 454.25 Td (making ) Tj ET Q q 0 0 0 rg BT 335.46 454.25 Td (it ) Tj ET Q q 0 0 0 rg BT 343.39 454.25 Td (more ) Tj ET Q q 0 0 0 rg BT 366.31 454.25 Td (dif) Tj ET Q q 0 0 0 rg BT 377.23 454.25 Td (ficult ) Tj ET Q q 0 0 0 rg BT 400.71 454.25 Td (for ) Tj ET Q q 0 0 0 rg BT 414.74 454.25 Td (homebuyers ) Tj ET Q q 0 0 0 rg BT 465.98 454.25 Td (to ) Tj ET Q q 0 0 0 rg BT 476.13 454.25 Td (qualify ) Tj ET Q q 0 0 0 rg BT 506.83 454.25 Td (for ) Tj ET Q q 0 0 0 rg BT 520.86 454.25 Td (mortgages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 442.25 Td (or ) Tj ET Q q 0 0 0 rg BT 59.95 442.25 Td (to ) Tj ET Q q 0 0 0 rg BT 69.85 442.25 Td (obtain ) Tj ET Q q 0 0 0 rg BT 96.96 442.25 Td (mortgages ) Tj ET Q q 0 0 0 rg BT 140.74 442.25 Td (at ) Tj ET Q q 0 0 0 rg BT 150.07 442.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 181.62 442.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 202.62 442.25 Td (that ) Tj ET Q q 0 0 0 rg BT 219.73 442.25 Td (are ) Tj ET Q q 0 0 0 rg BT 234.06 442.25 Td (acceptable ) Tj ET Q q 0 0 0 rg BT 278.37 442.25 Td (to ) Tj ET Q q 0 0 0 rg BT 288.26 442.25 Td (them. ) Tj ET Q q 0 0 0 rg BT 315.23 442.25 Td (The ) Tj ET Q q 0 0 0 rg BT 332.89 442.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 362.22 442.25 Td (of ) Tj ET Q q 0 0 0 rg BT 372.67 442.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 412.54 442.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 433.54 442.25 Td (can ) Tj ET Q q 0 0 0 rg BT 449.54 442.25 Td (be ) Tj ET Q q 0 0 0 rg BT 461.09 442.25 Td (of) Tj ET Q q 0 0 0 rg BT 469.24 442.25 Td (fset, ) Tj ET Q q 0 0 0 rg BT 488.30 442.25 Td (in ) Tj ET Q q 0 0 0 rg BT 498.20 442.25 Td (part, ) Tj ET Q q 0 0 0 rg BT 518.37 442.25 Td (by ) Tj ET Q q 0 0 0 rg BT 530.48 442.25 Td (of) Tj ET Q q 0 0 0 rg BT 538.63 442.25 Td (fering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 430.25 Td (variable ) Tj ET Q q 0 0 0 rg BT 84.46 430.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 102.19 430.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 126.05 430.25 Td (with ) Tj ET Q q 0 0 0 rg BT 146.59 430.25 Td (lower ) Tj ET Q q 0 0 0 rg BT 172.11 430.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 204.29 430.25 Td (rates. ) Tj ET Q q 0 0 0 rg BT 230.92 430.25 Td (In ) Tj ET Q q 0 0 0 rg BT 242.01 430.25 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 291.97 430.25 Td (with ) Tj ET Q q 0 0 0 rg BT 312.50 430.25 Td (our ) Tj ET Q q 0 0 0 rg BT 328.59 430.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 369.10 430.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 409.62 430.25 Td (services, ) Tj ET Q q 0 0 0 rg BT 447.08 430.25 Td (hedging ) Tj ET Q q 0 0 0 rg BT 482.05 430.25 Td (methods ) Tj ET Q q 0 0 0 rg BT 518.69 430.25 Td (are ) Tj ET Q q 0 0 0 rg BT 533.65 430.25 Td (used ) Tj ET Q q 0 0 0 rg BT 554.73 430.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 418.25 Td (reduce ) Tj ET Q q 0 0 0 rg BT 79.01 418.25 Td (our ) Tj ET Q q 0 0 0 rg BT 95.20 418.25 Td (exposure ) Tj ET Q q 0 0 0 rg BT 134.16 418.25 Td (to ) Tj ET Q q 0 0 0 rg BT 144.80 418.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 177.10 418.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 194.95 418.25 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 245.02 418.25 Td (between ) Tj ET Q q 0 0 0 rg BT 281.20 418.25 Td (the ) Tj ET Q q 0 0 0 rg BT 296.28 418.25 Td (commitment ) Tj ET Q q 0 0 0 rg BT 349.69 418.25 Td (date ) Tj ET Q q 0 0 0 rg BT 369.21 418.25 Td (of ) Tj ET Q q 0 0 0 rg BT 380.40 418.25 Td (the ) Tj ET Q q 0 0 0 rg BT 395.48 418.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 415.56 418.25 Td (and ) Tj ET Q q 0 0 0 rg BT 432.86 418.25 Td (the ) Tj ET Q q 0 0 0 rg BT 447.94 418.25 Td (time ) Tj ET Q q 0 0 0 rg BT 468.58 418.25 Td (the ) Tj ET Q q 0 0 0 rg BT 483.66 418.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 503.74 418.25 Td (closes. ) Tj ET Q q 0 0 0 rg BT 533.54 418.25 Td ( ) Tj ET Q q 0 0 0 rg BT 536.40 418.25 Td (Rising ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 406.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 81.65 406.25 Td (rates, ) Tj ET Q q 0 0 0 rg BT 105.74 406.25 Td (as ) Tj ET Q q 0 0 0 rg BT 116.79 406.25 Td (well ) Tj ET Q q 0 0 0 rg BT 136.72 406.25 Td (as ) Tj ET Q q 0 0 0 rg BT 147.76 406.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 188.23 406.25 Td (materials ) Tj ET Q q 0 0 0 rg BT 227.60 406.25 Td (and ) Tj ET Q q 0 0 0 rg BT 244.75 406.25 Td (labor ) Tj ET Q q 0 0 0 rg BT 268.01 406.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 293.23 406.25 Td (may ) Tj ET Q q 0 0 0 rg BT 313.16 406.25 Td (reduce ) Tj ET Q q 0 0 0 rg BT 342.52 406.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 366.35 406.25 Td (mar) Tj ET Q q 0 0 0 rg BT 381.71 406.25 Td (gins. ) Tj ET Q q 0 0 0 rg BT 403.60 406.25 Td ( ) Tj ET Q q 0 0 0 rg BT 405.71 406.25 Td (An ) Tj ET Q q 0 0 0 rg BT 420.65 406.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 456.12 406.25 Td (in ) Tj ET Q q 0 0 0 rg BT 466.61 406.25 Td (material ) Tj ET Q q 0 0 0 rg BT 502.08 406.25 Td (and ) Tj ET Q q 0 0 0 rg BT 519.24 406.25 Td (labor ) Tj ET Q q 0 0 0 rg BT 542.50 406.25 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 394.25 Td (is ) Tj ET Q q 0 0 0 rg BT 58.73 394.25 Td (particularly ) Tj ET Q q 0 0 0 rg BT 107.39 394.25 Td (a ) Tj ET Q q 0 0 0 rg BT 114.39 394.25 Td (problem ) Tj ET Q q 0 0 0 rg BT 150.28 394.25 Td (during ) Tj ET Q q 0 0 0 rg BT 178.95 394.25 Td (a ) Tj ET Q q 0 0 0 rg BT 185.95 394.25 Td (period ) Tj ET Q q 0 0 0 rg BT 214.06 394.25 Td (of ) Tj ET Q q 0 0 0 rg BT 224.95 394.25 Td (declining ) Tj ET Q q 0 0 0 rg BT 264.73 394.25 Td (home ) Tj ET Q q 0 0 0 rg BT 289.51 394.25 Td (prices. ) Tj ET Q q 0 0 0 rg BT 318.45 394.25 Td ( ) Tj ET Q q 0 0 0 rg BT 321.01 394.25 Td (Conversely) Tj ET Q q 0 0 0 rg BT 365.91 394.25 Td (, ) Tj ET Q q 0 0 0 rg BT 370.97 394.25 Td (deflation ) Tj ET Q q 0 0 0 rg BT 409.08 394.25 Td (can ) Tj ET Q q 0 0 0 rg BT 425.52 394.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 455.30 394.25 Td (the ) Tj ET Q q 0 0 0 rg BT 470.08 394.25 Td (value ) Tj ET Q q 0 0 0 rg BT 494.29 394.25 Td (of ) Tj ET Q q 0 0 0 rg BT 505.19 394.25 Td (real ) Tj ET Q q 0 0 0 rg BT 522.74 394.25 Td (estate ) Tj ET Q q 0 0 0 rg BT 548.06 394.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (make ) Tj ET Q q 0 0 0 rg BT 73.49 382.25 Td (it ) Tj ET Q q 0 0 0 rg BT 81.39 382.25 Td (dif) Tj ET Q q 0 0 0 rg BT 92.32 382.25 Td (ficult ) Tj ET Q q 0 0 0 rg BT 115.76 382.25 Td (for ) Tj ET Q q 0 0 0 rg BT 129.75 382.25 Td (us ) Tj ET Q q 0 0 0 rg BT 140.98 382.25 Td (to ) Tj ET Q q 0 0 0 rg BT 151.10 382.25 Td (recover ) Tj ET Q q 0 0 0 rg BT 183.41 382.25 Td (our ) Tj ET Q q 0 0 0 rg BT 199.08 382.25 Td (land ) Tj ET Q q 0 0 0 rg BT 218.64 382.25 Td (costs. ) Tj ET Q q 0 0 0 rg BT 243.47 382.25 Td ( ) Tj ET Q q 0 0 0 rg BT 245.64 382.25 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 289.90 382.25 Td (either ) Tj ET Q q 0 0 0 rg BT 315.00 382.25 Td (inflation ) Tj ET Q q 0 0 0 rg BT 351.22 382.25 Td (or ) Tj ET Q q 0 0 0 rg BT 361.88 382.25 Td (deflation ) Tj ET Q q 0 0 0 rg BT 399.76 382.25 Td (could ) Tj ET Q q 0 0 0 rg BT 424.32 382.25 Td (adversely ) Tj ET Q q 0 0 0 rg BT 464.97 382.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 494.52 382.25 Td (our ) Tj ET Q q 0 0 0 rg BT 510.19 382.25 Td (future ) Tj ET Q q 0 0 0 rg BT 536.41 382.25 Td (results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 370.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 370.25 Td (operations.) Tj ET Q endstream endobj 107 0 obj <> endobj 108 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (ITEM 3: QUANTIT) Tj ET Q q 0 0 0 rg BT 135.43 740.25 Td (A) Tj ET Q q 0 0 0 rg BT 141.91 740.25 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 168.31 740.25 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 231.19 740.25 Td (A) Tj ET Q q 0 0 0 rg BT 237.67 740.25 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 337.15 740.25 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 372.53 740.25 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 419.85 740.25 Td ( RISK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.41 716.25 Td (primary ) Tj ET Q q 0 0 0 rg BT 101.43 716.25 Td (market ) Tj ET Q q 0 0 0 rg BT 131.55 716.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 148.91 716.25 Td (results ) Tj ET Q q 0 0 0 rg BT 177.38 716.25 Td (from ) Tj ET Q q 0 0 0 rg BT 199.18 716.25 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 248.75 716.25 Td (in ) Tj ET Q q 0 0 0 rg BT 258.89 716.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 290.68 716.25 Td (rates. ) Tj ET Q q 0 0 0 rg BT 314.42 716.25 Td ( ) Tj ET Q q 0 0 0 rg BT 316.61 716.25 Td (W) Tj ET Q q 0 0 0 rg BT 325.24 716.25 Td (e ) Tj ET Q q 0 0 0 rg BT 332.04 716.25 Td (are ) Tj ET Q q 0 0 0 rg BT 346.61 716.25 Td (exposed ) Tj ET Q q 0 0 0 rg BT 381.74 716.25 Td (to ) Tj ET Q q 0 0 0 rg BT 391.88 716.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 423.67 716.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 441.01 716.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 458.37 716.25 Td (through ) Tj ET Q q 0 0 0 rg BT 491.84 716.25 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 539.75 716.25 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (our ) Tj ET Q q 0 0 0 rg BT 64.72 704.25 Td (revolving ) Tj ET Q q 0 0 0 rg BT 104.93 704.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 129.58 704.25 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 168.40 704.25 Td (consisting ) Tj ET Q q 0 0 0 rg BT 210.84 704.25 Td (of ) Tj ET Q q 0 0 0 rg BT 221.06 704.25 Td (the ) Tj ET Q q 0 0 0 rg BT 235.16 704.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 262.04 704.25 Td (Facility) Tj ET Q q 0 0 0 rg BT 291.95 704.25 Td (, ) Tj ET Q q 0 0 0 rg BT 296.33 704.25 Td (the ) Tj ET Q q 0 0 0 rg BT 310.44 704.25 Td (MIF ) Tj ET Q q 0 0 0 rg BT 330.11 704.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 370.74 704.25 Td (W) Tj ET Q q 0 0 0 rg BT 379.37 704.25 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 424.72 704.25 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 473.53 704.25 Td (and ) Tj ET Q q 0 0 0 rg BT 489.86 704.25 Td (the ) Tj ET Q q 0 0 0 rg BT 503.96 704.25 Td (MIF ) Tj ET Q q 0 0 0 rg BT 523.63 704.25 Td (Mortgage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 97.93 692.25 Td (Facility ) Tj ET Q q 0 0 0 rg BT 130.27 692.25 Td (which ) Tj ET Q q 0 0 0 rg BT 156.49 692.25 Td (permit ) Tj ET Q q 0 0 0 rg BT 184.38 692.25 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 231.72 692.25 Td (of ) Tj ET Q q 0 0 0 rg BT 241.84 692.25 Td (up ) Tj ET Q q 0 0 0 rg BT 253.62 692.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.19 692.25 Td ($660million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.58 692.25 Td (, ) Tj ET Q q 0 0 0 rg BT 318.87 692.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 348.98 692.25 Td (to ) Tj ET Q q 0 0 0 rg BT 358.54 692.25 Td (availability ) Tj ET Q q 0 0 0 rg BT 405.31 692.25 Td (constraints. ) Tj ET Q q 0 0 0 rg BT 452.92 692.25 Td ( ) Tj ET Q q 0 0 0 rg BT 454.32 692.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 504.22 692.25 Td (, ) Tj ET Q q 0 0 0 rg BT 508.50 692.25 Td (M/I ) Tj ET Q q 0 0 0 rg BT 525.29 692.25 Td (Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (is ) Tj ET Q q 0 0 0 rg BT 58.67 680.25 Td (exposed ) Tj ET Q q 0 0 0 rg BT 93.94 680.25 Td (to ) Tj ET Q q 0 0 0 rg BT 104.22 680.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 136.15 680.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 153.64 680.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 171.14 680.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 214.73 680.25 Td (with ) Tj ET Q q 0 0 0 rg BT 235.01 680.25 Td (its ) Tj ET Q q 0 0 0 rg BT 246.96 680.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 287.22 680.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 306.94 680.25 Td (origination ) Tj ET Q q 0 0 0 rg BT 353.32 680.25 Td (services. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 656.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 83.14 656.25 Td (Rate ) Tj ET Q q 0 0 0 rg BT 103.99 656.25 Td (Lock ) Tj ET Q q 0 0 0 rg BT 126.50 656.25 Td (Commitments: ) Tj ET Q q 0 0 0 rg BT 189.03 656.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.00 656.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 222.95 656.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 239.90 656.25 Td (lock ) Tj ET Q q 0 0 0 rg BT 259.09 656.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 315.49 656.25 Td (\(IRLCs\) ) Tj ET Q q 0 0 0 rg BT 359.67 656.25 Td (are ) Tj ET Q q 0 0 0 rg BT 373.84 656.25 Td (extended ) Tj ET Q q 0 0 0 rg BT 411.90 656.25 Td (to ) Tj ET Q q 0 0 0 rg BT 421.65 656.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 450.81 656.25 Td (homebuying ) Tj ET Q q 0 0 0 rg BT 502.78 656.25 Td (customers ) Tj ET Q q 0 0 0 rg BT 545.29 656.25 Td (who ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (have ) Tj ET Q q 0 0 0 rg BT 71.67 644.25 Td (applied ) Tj ET Q q 0 0 0 rg BT 104.40 644.25 Td (for ) Tj ET Q q 0 0 0 rg BT 119.36 644.25 Td (a ) Tj ET Q q 0 0 0 rg BT 127.09 644.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 168.15 644.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 188.66 644.25 Td (and ) Tj ET Q q 0 0 0 rg BT 206.39 644.25 Td (meet ) Tj ET Q q 0 0 0 rg BT 229.12 644.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 259.62 644.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 292.90 644.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 318.96 644.25 Td (and ) Tj ET Q q 0 0 0 rg BT 336.69 644.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 391.64 644.25 Td (criteria. ) Tj ET Q q 0 0 0 rg BT 425.75 644.25 Td ( ) Tj ET Q q 0 0 0 rg BT 428.80 644.25 Td (T) Tj ET Q q 0 0 0 rg BT 434.21 644.25 Td (ypically) Tj ET Q q 0 0 0 rg BT 465.78 644.25 Td (, ) Tj ET Q q 0 0 0 rg BT 471.57 644.25 Td (the ) Tj ET Q q 0 0 0 rg BT 487.08 644.25 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 517.05 644.25 Td (will ) Tj ET Q q 0 0 0 rg BT 535.90 644.25 Td (have ) Tj ET Q q 0 0 0 rg BT 558.07 644.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (duration ) Tj ET Q q 0 0 0 rg BT 85.33 632.25 Td (of ) Tj ET Q q 0 0 0 rg BT 96.16 632.25 Td (less ) Tj ET Q q 0 0 0 rg BT 113.66 632.25 Td (than ) Tj ET Q q 0 0 0 rg BT 133.37 632.25 Td (six ) Tj ET Q q 0 0 0 rg BT 147.54 632.25 Td (months; ) Tj ET Q q 0 0 0 rg BT 182.27 632.25 Td (however) Tj ET Q q 0 0 0 rg BT 216.30 632.25 Td (, ) Tj ET Q q 0 0 0 rg BT 221.30 632.25 Td (in ) Tj ET Q q 0 0 0 rg BT 231.58 632.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 261.28 632.25 Td (markets, ) Tj ET Q q 0 0 0 rg BT 297.93 632.25 Td (the ) Tj ET Q q 0 0 0 rg BT 312.65 632.25 Td (duration ) Tj ET Q q 0 0 0 rg BT 348.47 632.25 Td (could ) Tj ET Q q 0 0 0 rg BT 373.19 632.25 Td (extend ) Tj ET Q q 0 0 0 rg BT 402.35 632.25 Td (to ) Tj ET Q q 0 0 0 rg BT 412.63 632.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 432.34 632.25 Td (months.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.25 Td (Some ) Tj ET Q q 0 0 0 rg BT 74.93 608.25 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 104.25 608.25 Td (are ) Tj ET Q q 0 0 0 rg BT 119.11 608.25 Td (committed ) Tj ET Q q 0 0 0 rg BT 164.53 608.25 Td (to ) Tj ET Q q 0 0 0 rg BT 174.95 608.25 Td (a ) Tj ET Q q 0 0 0 rg BT 182.04 608.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 215.79 608.25 Td (third ) Tj ET Q q 0 0 0 rg BT 237.32 608.25 Td (party ) Tj ET Q q 0 0 0 rg BT 260.52 608.25 Td (investor ) Tj ET Q q 0 0 0 rg BT 295.39 608.25 Td (through ) Tj ET Q q 0 0 0 rg BT 329.15 608.25 Td (the ) Tj ET Q q 0 0 0 rg BT 344.01 608.25 Td (use ) Tj ET Q q 0 0 0 rg BT 360.00 608.25 Td (of ) Tj ET Q q 0 0 0 rg BT 370.98 608.25 Td (whole ) Tj ET Q q 0 0 0 rg BT 398.06 608.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 417.93 608.25 Td (delivery ) Tj ET Q q 0 0 0 rg BT 453.35 608.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 510.43 608.25 Td (matching ) Tj ET Q q 0 0 0 rg BT 550.30 608.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.25 Td (exact ) Tj ET Q q 0 0 0 rg BT 73.48 596.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 98.58 596.25 Td (of ) Tj ET Q q 0 0 0 rg BT 109.80 596.25 Td (the ) Tj ET Q q 0 0 0 rg BT 124.90 596.25 Td (IRLC ) Tj ET Q q 0 0 0 rg BT 150.56 596.25 Td (loan. ) Tj ET Q q 0 0 0 rg BT 173.17 596.25 Td ( ) Tj ET Q q 0 0 0 rg BT 176.05 596.25 Td (Uncommitted ) Tj ET Q q 0 0 0 rg BT 233.93 596.25 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 263.48 596.25 Td (are ) Tj ET Q q 0 0 0 rg BT 278.58 596.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 324.78 596.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 367.64 596.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 417.20 596.25 Td (and ) Tj ET Q q 0 0 0 rg BT 434.52 596.25 Td (are ) Tj ET Q q 0 0 0 rg BT 449.61 596.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 466.38 596.25 Td (value ) Tj ET Q q 0 0 0 rg BT 490.92 596.25 Td (adjusted, ) Tj ET Q q 0 0 0 rg BT 529.63 596.25 Td (with ) Tj ET Q q 0 0 0 rg BT 550.29 596.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.25 Td (resulting ) Tj ET Q q 0 0 0 rg BT 87.00 584.25 Td (gain ) Tj ET Q q 0 0 0 rg BT 106.71 584.25 Td (or ) Tj ET Q q 0 0 0 rg BT 117.54 584.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 135.60 584.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 173.08 584.25 Td (in ) Tj ET Q q 0 0 0 rg BT 183.36 584.25 Td (current ) Tj ET Q q 0 0 0 rg BT 214.17 584.25 Td (earnings.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (Forward ) Tj ET Q q 0 0 0 rg BT 88.83 560.25 Td (Sales ) Tj ET Q q 0 0 0 rg BT 113.71 560.25 Td (of ) Tj ET Q q 0 0 0 rg BT 125.24 560.25 Td (Mortgage-Backed ) Tj ET Q q 0 0 0 rg BT 202.33 560.25 Td (Securities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.21 560.25 Td ( ) Tj ET Q q 0 0 0 rg BT 249.42 560.25 Td ( ) Tj ET Q q 0 0 0 rg BT 252.63 560.25 Td (Forward ) Tj ET Q q 0 0 0 rg BT 289.72 560.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 312.36 560.25 Td (of ) Tj ET Q q 0 0 0 rg BT 323.90 560.25 Td (mortgage-backed ) Tj ET Q q 0 0 0 rg BT 396.52 560.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 437.49 560.25 Td (\(FMBSs\) ) Tj ET Q q 0 0 0 rg BT 486.81 560.25 Td (are ) Tj ET Q q 0 0 0 rg BT 502.22 560.25 Td (used ) Tj ET Q q 0 0 0 rg BT 523.76 560.25 Td (to ) Tj ET Q q 0 0 0 rg BT 534.74 560.25 Td (protect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.25 Td (uncommitted ) Tj ET Q q 0 0 0 rg BT 104.65 548.25 Td (IRLC ) Tj ET Q q 0 0 0 rg BT 129.82 548.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 153.31 548.25 Td (against ) Tj ET Q q 0 0 0 rg BT 184.02 548.25 Td (the ) Tj ET Q q 0 0 0 rg BT 198.62 548.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 216.01 548.25 Td (of ) Tj ET Q q 0 0 0 rg BT 226.72 548.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 261.32 548.25 Td (in ) Tj ET Q q 0 0 0 rg BT 271.48 548.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 303.30 548.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 324.56 548.25 Td (between ) Tj ET Q q 0 0 0 rg BT 360.26 548.25 Td (the ) Tj ET Q q 0 0 0 rg BT 374.86 548.25 Td (lock ) Tj ET Q q 0 0 0 rg BT 394.47 548.25 Td (date ) Tj ET Q q 0 0 0 rg BT 413.51 548.25 Td (and ) Tj ET Q q 0 0 0 rg BT 430.33 548.25 Td (the ) Tj ET Q q 0 0 0 rg BT 444.93 548.25 Td (funding ) Tj ET Q q 0 0 0 rg BT 478.43 548.25 Td (date. ) Tj ET Q q 0 0 0 rg BT 499.97 548.25 Td ( ) Tj ET Q q 0 0 0 rg BT 502.35 548.25 Td (FMBSs ) Tj ET Q q 0 0 0 rg BT 535.31 548.25 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.25 Td (to ) Tj ET Q q 0 0 0 rg BT 60.00 536.25 Td (uncommitted ) Tj ET Q q 0 0 0 rg BT 115.49 536.25 Td (IRLCs ) Tj ET Q q 0 0 0 rg BT 144.88 536.25 Td (are ) Tj ET Q q 0 0 0 rg BT 159.81 536.25 Td (classified ) Tj ET Q q 0 0 0 rg BT 200.29 536.25 Td (and ) Tj ET Q q 0 0 0 rg BT 217.45 536.25 Td (accounted ) Tj ET Q q 0 0 0 rg BT 260.71 536.25 Td (for ) Tj ET Q q 0 0 0 rg BT 275.09 536.25 Td (as ) Tj ET Q q 0 0 0 rg BT 286.14 536.25 Td (non-designated ) Tj ET Q q 0 0 0 rg BT 349.95 536.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 392.66 536.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 442.04 536.25 Td (and ) Tj ET Q q 0 0 0 rg BT 459.20 536.25 Td (are ) Tj ET Q q 0 0 0 rg BT 474.13 536.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 511.83 536.25 Td (at ) Tj ET Q q 0 0 0 rg BT 521.76 536.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 538.36 536.25 Td (value, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.25 Td (with ) Tj ET Q q 0 0 0 rg BT 69.78 524.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 93.39 524.25 Td (and ) Tj ET Q q 0 0 0 rg BT 110.33 524.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 136.72 524.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 174.19 524.25 Td (in ) Tj ET Q q 0 0 0 rg BT 184.47 524.25 Td (current ) Tj ET Q q 0 0 0 rg BT 215.29 524.25 Td (earnings.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 92.23 500.25 Td (Loans ) Tj ET Q q 0 0 0 rg BT 120.53 500.25 Td (Held ) Tj ET Q q 0 0 0 rg BT 143.26 500.25 Td (for ) Tj ET Q q 0 0 0 rg BT 158.21 500.25 Td (Sale) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.99 500.25 Td (: ) Tj ET Q q 0 0 0 rg BT 182.05 500.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.79 500.25 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 226.40 500.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 250.24 500.25 Td (held ) Tj ET Q q 0 0 0 rg BT 270.19 500.25 Td (for ) Tj ET Q q 0 0 0 rg BT 284.58 500.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 302.86 500.25 Td (consist ) Tj ET Q q 0 0 0 rg BT 333.38 500.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 373.32 500.25 Td (of ) Tj ET Q q 0 0 0 rg BT 384.38 500.25 Td (single-family ) Tj ET Q q 0 0 0 rg BT 440.44 500.25 Td (residential ) Tj ET Q q 0 0 0 rg BT 484.82 500.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 508.66 500.25 Td (collateralized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.25 Td (by ) Tj ET Q q 0 0 0 rg BT 62.15 488.25 Td (the ) Tj ET Q q 0 0 0 rg BT 77.02 488.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 123.00 488.25 Td (property) Tj ET Q q 0 0 0 rg BT 156.22 488.25 Td (. ) Tj ET Q q 0 0 0 rg BT 161.38 488.25 Td ( ) Tj ET Q q 0 0 0 rg BT 164.03 488.25 Td (During ) Tj ET Q q 0 0 0 rg BT 195.01 488.25 Td (the ) Tj ET Q q 0 0 0 rg BT 209.88 488.25 Td (period ) Tj ET Q q 0 0 0 rg BT 238.07 488.25 Td (between ) Tj ET Q q 0 0 0 rg BT 274.04 488.25 Td (when ) Tj ET Q q 0 0 0 rg BT 298.35 488.25 Td (a ) Tj ET Q q 0 0 0 rg BT 305.44 488.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 325.31 488.25 Td (is ) Tj ET Q q 0 0 0 rg BT 334.63 488.25 Td (closed ) Tj ET Q q 0 0 0 rg BT 362.83 488.25 Td (and ) Tj ET Q q 0 0 0 rg BT 379.92 488.25 Td (when ) Tj ET Q q 0 0 0 rg BT 404.23 488.25 Td (it ) Tj ET Q q 0 0 0 rg BT 412.44 488.25 Td (is ) Tj ET Q q 0 0 0 rg BT 421.76 488.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 441.08 488.25 Td (to ) Tj ET Q q 0 0 0 rg BT 451.51 488.25 Td (an ) Tj ET Q q 0 0 0 rg BT 463.60 488.25 Td (investor) Tj ET Q q 0 0 0 rg BT 495.42 488.25 Td (, ) Tj ET Q q 0 0 0 rg BT 500.57 488.25 Td (the ) Tj ET Q q 0 0 0 rg BT 515.44 488.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 547.52 488.25 Td (rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 67.80 476.25 Td (is ) Tj ET Q q 0 0 0 rg BT 77.77 476.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 112.71 476.25 Td (through ) Tj ET Q q 0 0 0 rg BT 147.12 476.25 Td (the ) Tj ET Q q 0 0 0 rg BT 162.63 476.25 Td (use ) Tj ET Q q 0 0 0 rg BT 179.26 476.25 Td (of ) Tj ET Q q 0 0 0 rg BT 190.89 476.25 Td (a ) Tj ET Q q 0 0 0 rg BT 198.63 476.25 Td (whole ) Tj ET Q q 0 0 0 rg BT 226.36 476.25 Td (loan ) Tj ET Q q 0 0 0 rg BT 246.88 476.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 282.38 476.25 Td (or ) Tj ET Q q 0 0 0 rg BT 294.01 476.25 Td (by ) Tj ET Q q 0 0 0 rg BT 307.31 476.25 Td (FMBSs. ) Tj ET Q q 0 0 0 rg BT 343.68 476.25 Td ( ) Tj ET Q q 0 0 0 rg BT 346.74 476.25 Td (The ) Tj ET Q q 0 0 0 rg BT 365.58 476.25 Td (FMBSs ) Tj ET Q q 0 0 0 rg BT 399.46 476.25 Td (are ) Tj ET Q q 0 0 0 rg BT 414.96 476.25 Td (classified ) Tj ET Q q 0 0 0 rg BT 456.03 476.25 Td (and ) Tj ET Q q 0 0 0 rg BT 473.76 476.25 Td (accounted ) Tj ET Q q 0 0 0 rg BT 517.59 476.25 Td (for ) Tj ET Q q 0 0 0 rg BT 532.55 476.25 Td (as ) Tj ET Q q 0 0 0 rg BT 544.18 476.25 Td (non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (designated ) Tj ET Q q 0 0 0 rg BT 94.76 464.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 137.24 464.25 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 188.91 464.25 Td (with ) Tj ET Q q 0 0 0 rg BT 209.19 464.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 232.80 464.25 Td (and ) Tj ET Q q 0 0 0 rg BT 249.73 464.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 276.13 464.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 313.60 464.25 Td (in ) Tj ET Q q 0 0 0 rg BT 323.88 464.25 Td (current ) Tj ET Q q 0 0 0 rg BT 354.70 464.25 Td (earnings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.55 440.25 Td (table ) Tj ET Q q 0 0 0 rg BT 89.48 440.25 Td (below ) Tj ET Q q 0 0 0 rg BT 116.42 440.25 Td (shows ) Tj ET Q q 0 0 0 rg BT 143.92 440.25 Td (the ) Tj ET Q q 0 0 0 rg BT 158.64 440.25 Td (notional ) Tj ET Q q 0 0 0 rg BT 193.91 440.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 230.30 440.25 Td (of ) Tj ET Q q 0 0 0 rg BT 241.13 440.25 Td (our ) Tj ET Q q 0 0 0 rg BT 256.96 440.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 294.44 440.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 343.61 440.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.32 440.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 389.15 440.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 440.25 Td ( ) Tj ET Q q 0 0 0 rg BT 411.65 440.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.59 440.25 Td (December ) Tj ET Q q 0 0 0 rg BT 472.18 440.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 487.18 440.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.18 440.25 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 407.75 m 430 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 407.75 m 491 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 407.75 m 501 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 407.75 m 562 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 407.75 m 430 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 407.75 m 491 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 407.75 m 501 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 407.75 m 562 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 335.75 m 430 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 335.75 m 491 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 335.75 m 501 335.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 335.75 m 562 335.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.75 421.88 Td (June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.55 421.75 Td (December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 411.70 Td (Description of Financial Instrument \(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 411.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.00 411.70 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 399.70 Td (Whole loan contracts and related committed IRLCs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.50 399.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.80 399.83 Td (5,330) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.50 399.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 399.70 Td (2,182) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 387.70 Td (Uncommitted IRLCs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.80 387.83 Td (123,897) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 387.70 Td (50,746) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 375.70 Td (FMBSs related to uncommitted IRLCs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.80 375.83 Td (126,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 375.70 Td (53,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 363.70 Td (Whole loan contracts and related mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.80 363.83 Td (8,992) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 363.70 Td (80,956) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 351.70 Td (FMBSs related to mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.80 351.83 Td (97,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 351.70 Td (91,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 339.70 Td (Mortgage loans held for sale covered by FMBSs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.80 339.83 Td (97,281) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 339.70 Td (90,781) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 312.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.55 312.25 Td (table ) Tj ET Q q 0 0 0 rg BT 89.48 312.25 Td (below ) Tj ET Q q 0 0 0 rg BT 116.42 312.25 Td (shows ) Tj ET Q q 0 0 0 rg BT 143.92 312.25 Td (the ) Tj ET Q q 0 0 0 rg BT 158.64 312.25 Td (measurement ) Tj ET Q q 0 0 0 rg BT 214.45 312.25 Td (of ) Tj ET Q q 0 0 0 rg BT 225.28 312.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 251.11 312.25 Td (and ) Tj ET Q q 0 0 0 rg BT 268.05 312.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 307.77 312.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.48 312.25 Td (June30, ) Tj ET Q q 0 0 0 rg BT 353.31 312.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.31 312.25 Td ( ) Tj ET Q q 0 0 0 rg BT 375.81 312.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.75 312.25 Td (December ) Tj ET Q q 0 0 0 rg BT 436.34 312.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 451.34 312.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.34 312.25 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 279.75 m 430 279.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 279.75 m 491 279.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 279.75 m 501 279.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 279.75 m 562 279.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 279.75 m 491 279.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 230.75 m 430 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 230.75 m 491 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 230.75 m 501 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 230.75 m 562 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 218.75 m 430 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 218.75 m 491 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 218.75 m 501 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 218.75 m 562 218.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.75 293.88 Td (June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.55 293.75 Td (December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 283.70 Td (Description of Financial Instrument \(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 283.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.00 283.70 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 271.00 Td (Mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.50 270.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.80 270.98 Td (108,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.50 271.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 271.00 Td (171,580) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 258.70 Td (Forward sales of mortgage-backed securities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.10 258.83 Td (\(783) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.80 258.83 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 258.70 Td (177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 246.70 Td (Interest rate lock commitments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.80 246.83 Td (1,104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 246.70 Td (271) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 234.70 Td (Whole loan contracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.10 234.83 Td (\(122) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.80 234.83 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 234.70 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 222.70 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 222.70 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.50 222.83 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.80 222.83 Td (108,199) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.50 222.70 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 222.70 Td (172,040) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 195.25 Td (The ) Tj ET Q q 0 0 0 rg BT 68.03 195.25 Td (following ) Tj ET Q q 0 0 0 rg BT 109.89 195.25 Td (table ) Tj ET Q q 0 0 0 rg BT 132.31 195.25 Td (sets ) Tj ET Q q 0 0 0 rg BT 150.29 195.25 Td (forth ) Tj ET Q q 0 0 0 rg BT 172.71 195.25 Td (the ) Tj ET Q q 0 0 0 rg BT 187.90 195.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 220.88 195.25 Td (of ) Tj ET Q q 0 0 0 rg BT 232.19 195.25 Td (gain ) Tj ET Q q 0 0 0 rg BT 252.38 195.25 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 277.59 195.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 324.43 195.25 Td (on ) Tj ET Q q 0 0 0 rg BT 337.41 195.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 363.72 195.25 Td (and ) Tj ET Q q 0 0 0 rg BT 381.14 195.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 421.33 195.25 Td (for ) Tj ET Q q 0 0 0 rg BT 435.97 195.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.17 195.25 Td (three ) Tj ET Q q 0 0 0 rg BT 474.14 195.25 Td (and ) Tj ET Q q 0 0 0 rg BT 491.55 195.25 Td (six ) Tj ET Q q 0 0 0 rg BT 506.20 195.25 Td (months ) Tj ET Q q 0 0 0 rg BT 538.63 195.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 183.25 Td (June ) Tj ET Q q 0 0 0 rg BT 70.33 183.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 85.33 183.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 107.83 183.25 Td (and ) Tj ET Q q 0 0 0 rg BT 124.77 183.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.77 183.25 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 159.75 m 377 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 159.75 m 384 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 159.75 m 439 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 159.75 m 449 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 159.75 m 502 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 159.75 m 509 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 159.75 m 562 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 146.75 m 322 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 146.75 m 377 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 146.75 m 384 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 146.75 m 439 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 146.75 m 449 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 159.75 m 502 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 146.75 m 502 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 159.75 m 509 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 146.75 m 509 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 159.75 m 562 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 146.75 m 562 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 146.75 m 377 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 146.75 m 449 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 146.75 m 502 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 146.75 m 509 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 146.75 m 562 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 94.75 m 322 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 94.75 m 377 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 94.75 m 384 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 94.75 m 439 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 94.75 m 449 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 94.75 m 502 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 94.75 m 509 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 94.75 m 562 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 81.75 m 322 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 81.75 m 377 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 81.75 m 384 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 81.75 m 439 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 81.75 m 449 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 81.75 m 502 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 81.75 m 509 81.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 81.75 m 562 81.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 328.35 163.98 Td (Thr) Tj ET Q q 0 0 0 rg BT 341.61 163.98 Td (ee Months Ended June 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.20 163.98 Td (Six Months Ended June 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 151.00 Td (Description \(in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.00 150.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.00 151.00 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.00 150.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.00 151.00 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 138.00 Td (Mortgage loans held for sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 137.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 137.98 Td (642) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 138.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.10 138.00 Td (\(484) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.80 138.00 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 137.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 137.98 Td (1,317) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 138.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 138.00 Td (4,390) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 125.00 Td (Forward sales of mortgage-backed securities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.10 124.98 Td (\(658) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.80 124.98 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.80 125.00 Td (1,280) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.10 124.98 Td (\(960) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.80 124.98 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 125.00 Td (369) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 112.00 Td (Interest rate lock commitments) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.80 111.98 Td (138) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.10 112.00 Td (\(748) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.80 112.00 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.80 111.98 Td (843) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 112.00 Td (94) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 99.00 Td (Whole loan contracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 363.10 98.98 Td (\(61) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.80 98.98 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 99.00 Td (305) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.10 98.98 Td (\(144) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 498.80 98.98 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 99.00 Td (71) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 86.00 Td (T) Tj ET Q q 0 0 0 rg BT 55.83 86.00 Td (otal gain recognized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.50 85.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.80 85.98 Td (61) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 86.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.80 86.00 Td (353) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 85.98 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 85.98 Td (1,056) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.50 86.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.80 86.00 Td (4,924) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 109 0 obj <> endobj 110 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.64 740.10 Td (following ) Tj ET Q q 0 0 0 rg BT 109.12 740.10 Td (table ) Tj ET Q q 0 0 0 rg BT 131.15 740.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 168.18 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.99 740.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 221.12 740.10 Td (future ) Tj ET Q q 0 0 0 rg BT 247.59 740.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 267.95 740.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 292.77 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 309.80 740.10 Td (current ) Tj ET Q q 0 0 0 rg BT 340.71 740.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 357.18 740.10 Td (values ) Tj ET Q q 0 0 0 rg BT 385.32 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.25 740.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 444.40 740.10 Td (under ) Tj ET Q q 0 0 0 rg BT 469.76 740.10 Td (our ) Tj ET Q q 0 0 0 rg BT 485.68 740.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 511.04 740.10 Td (facilities ) Tj ET Q q 0 0 0 rg BT 548.06 740.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 89.45 728.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 108.86 728.10 Td (origination ) Tj ET Q q 0 0 0 rg BT 154.92 728.10 Td (services ) Tj ET Q q 0 0 0 rg BT 189.32 728.10 Td (that ) Tj ET Q q 0 0 0 rg BT 206.50 728.10 Td (are ) Tj ET Q q 0 0 0 rg BT 220.90 728.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 251.41 728.10 Td (to ) Tj ET Q q 0 0 0 rg BT 261.38 728.10 Td (market ) Tj ET Q q 0 0 0 rg BT 291.33 728.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 308.51 728.10 Td (as ) Tj ET Q q 0 0 0 rg BT 319.03 728.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 350.65 728.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 371.72 728.10 Td (fluctuate, ) Tj ET Q q 0 0 0 rg BT 411.38 728.10 Td (as ) Tj ET Q q 0 0 0 rg BT 421.90 728.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.42 728.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 467.94 728.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.94 728.10 Td (. ) Tj ET Q q 0 0 0 rg BT 492.63 728.10 Td ( ) Tj ET Q q 0 0 0 rg BT 494.81 728.10 Td (Because ) Tj ET Q q 0 0 0 rg BT 530.32 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 544.72 728.10 Td (MIF ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 90.29 716.10 Td (W) Tj ET Q q 0 0 0 rg BT 98.93 716.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 144.41 716.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 190.89 716.10 Td (and ) Tj ET Q q 0 0 0 rg BT 207.39 716.10 Td (MIF ) Tj ET Q q 0 0 0 rg BT 227.23 716.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 268.17 716.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 316.87 716.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 349.48 716.10 Td (are ) Tj ET Q q 0 0 0 rg BT 363.75 716.10 Td (ef) Tj ET Q q 0 0 0 rg BT 371.34 716.10 Td (fectively ) Tj ET Q q 0 0 0 rg BT 408.38 716.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 440.98 716.10 Td (by ) Tj ET Q q 0 0 0 rg BT 453.04 716.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 482.30 716.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 522.12 716.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 545.29 716.10 Td (held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.21 704.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 80.82 704.10 Td (which ) Tj ET Q q 0 0 0 rg BT 107.31 704.10 Td (are ) Tj ET Q q 0 0 0 rg BT 121.57 704.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 158.62 704.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 177.34 704.10 Td (within ) Tj ET Q q 0 0 0 rg BT 204.95 704.10 Td (30 ) Tj ET Q q 0 0 0 rg BT 217.01 704.10 Td (to ) Tj ET Q q 0 0 0 rg BT 226.84 704.10 Td (45 ) Tj ET Q q 0 0 0 rg BT 238.89 704.10 Td (days, ) Tj ET Q q 0 0 0 rg BT 261.78 704.10 Td (their ) Tj ET Q q 0 0 0 rg BT 282.16 704.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 330.88 704.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 367.36 704.10 Td (are ) Tj ET Q q 0 0 0 rg BT 381.62 704.10 Td (included ) Tj ET Q q 0 0 0 rg BT 418.11 704.10 Td (in ) Tj ET Q q 0 0 0 rg BT 427.94 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 442.21 704.10 Td (most ) Tj ET Q q 0 0 0 rg BT 463.71 704.10 Td (current ) Tj ET Q q 0 0 0 rg BT 494.08 704.10 Td (period ) Tj ET Q q 0 0 0 rg BT 521.69 704.10 Td (presented. ) Tj ET Q q 0 0 0 rg BT 565.00 704.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.37 692.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 99.12 692.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 120.31 692.10 Td (for ) Tj ET Q q 0 0 0 rg BT 134.29 692.10 Td (our ) Tj ET Q q 0 0 0 rg BT 149.94 692.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 184.46 692.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 201.76 692.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 221.30 692.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 260.26 692.10 Td (the ) Tj ET Q q 0 0 0 rg BT 274.80 692.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 313.77 692.10 Td (average ) Tj ET Q q 0 0 0 rg BT 347.17 692.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 378.93 692.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 400.12 692.10 Td (in ) Tj ET Q q 0 0 0 rg BT 410.22 692.10 Td (ef) Tj ET Q q 0 0 0 rg BT 417.81 692.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 435.11 692.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.64 692.10 Td (June30, ) Tj ET Q q 0 0 0 rg BT 480.29 692.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.29 692.10 Td (. ) Tj ET Q q 0 0 0 rg BT 505.11 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 507.43 692.10 Td (For ) Tj ET Q q 0 0 0 rg BT 523.64 692.10 Td (fixed-rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (debt, ) Tj ET Q q 0 0 0 rg BT 72.44 680.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 107.86 680.10 Td (in ) Tj ET Q q 0 0 0 rg BT 118.86 680.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 151.52 680.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 173.61 680.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 214.04 680.10 Td (af) Tj ET Q q 0 0 0 rg BT 221.62 680.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 239.83 680.10 Td (the ) Tj ET Q q 0 0 0 rg BT 255.27 680.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 272.36 680.10 Td (market ) Tj ET Q q 0 0 0 rg BT 303.35 680.10 Td (value ) Tj ET Q q 0 0 0 rg BT 328.22 680.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.77 680.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.21 680.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 375.65 680.10 Td (instrument, ) Tj ET Q q 0 0 0 rg BT 424.14 680.10 Td (but ) Tj ET Q q 0 0 0 rg BT 440.14 680.10 Td (not ) Tj ET Q q 0 0 0 rg BT 456.14 680.10 Td (our ) Tj ET Q q 0 0 0 rg BT 472.69 680.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 509.79 680.10 Td (or ) Tj ET Q q 0 0 0 rg BT 521.34 680.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 542.32 680.10 Td (flow) Tj ET Q q 0 0 0 rg BT 560.01 680.10 Td (. ) Tj ET Q q 0 0 0 rg BT 565.01 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (Conversely) Tj ET Q q 0 0 0 rg BT 94.40 668.10 Td (, ) Tj ET Q q 0 0 0 rg BT 99.76 668.10 Td (for ) Tj ET Q q 0 0 0 rg BT 114.28 668.10 Td (variable-rate ) Tj ET Q q 0 0 0 rg BT 167.65 668.10 Td (debt, ) Tj ET Q q 0 0 0 rg BT 190.23 668.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 225.29 668.10 Td (in ) Tj ET Q q 0 0 0 rg BT 235.93 668.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 268.22 668.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 289.96 668.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 330.02 668.10 Td (do ) Tj ET Q q 0 0 0 rg BT 342.88 668.10 Td (not ) Tj ET Q q 0 0 0 rg BT 358.52 668.10 Td (af) Tj ET Q q 0 0 0 rg BT 366.10 668.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 383.95 668.10 Td (the ) Tj ET Q q 0 0 0 rg BT 399.02 668.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 415.76 668.10 Td (market ) Tj ET Q q 0 0 0 rg BT 446.38 668.10 Td (value ) Tj ET Q q 0 0 0 rg BT 470.90 668.10 Td (of ) Tj ET Q q 0 0 0 rg BT 482.09 668.10 Td (the ) Tj ET Q q 0 0 0 rg BT 497.16 668.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 517.24 668.10 Td (instrument, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (but ) Tj ET Q q 0 0 0 rg BT 64.37 656.10 Td (do ) Tj ET Q q 0 0 0 rg BT 76.46 656.10 Td (af) Tj ET Q q 0 0 0 rg BT 84.05 656.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 101.13 656.10 Td (our ) Tj ET Q q 0 0 0 rg BT 116.55 656.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 152.52 656.10 Td (and ) Tj ET Q q 0 0 0 rg BT 169.04 656.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 188.90 656.10 Td (flow) Tj ET Q q 0 0 0 rg BT 206.59 656.10 Td (. ) Tj ET Q q 0 0 0 rg BT 211.18 656.10 Td ( ) Tj ET Q q 0 0 0 rg BT 213.12 656.10 Td (W) Tj ET Q q 0 0 0 rg BT 221.75 656.10 Td (e ) Tj ET Q q 0 0 0 rg BT 228.28 656.10 Td (do ) Tj ET Q q 0 0 0 rg BT 240.38 656.10 Td (not ) Tj ET Q q 0 0 0 rg BT 255.25 656.10 Td (have ) Tj ET Q q 0 0 0 rg BT 276.21 656.10 Td (the ) Tj ET Q q 0 0 0 rg BT 290.52 656.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 333.16 656.10 Td (to ) Tj ET Q q 0 0 0 rg BT 343.03 656.10 Td (prepay ) Tj ET Q q 0 0 0 rg BT 372.33 656.10 Td (fixed-rate ) Tj ET Q q 0 0 0 rg BT 413.29 656.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 432.59 656.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 454.12 656.10 Td (to ) Tj ET Q q 0 0 0 rg BT 463.99 656.10 Td (maturity) Tj ET Q q 0 0 0 rg BT 497.23 656.10 Td (, ) Tj ET Q q 0 0 0 rg BT 501.82 656.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 520.85 656.10 Td (as ) Tj ET Q q 0 0 0 rg BT 531.27 656.10 Td (a ) Tj ET Q q 0 0 0 rg BT 537.80 656.10 Td (result, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 81.15 644.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 98.35 644.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 115.57 644.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.22 644.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 166.64 644.10 Td (in ) Tj ET Q q 0 0 0 rg BT 176.64 644.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 192.73 644.10 Td (market ) Tj ET Q q 0 0 0 rg BT 222.71 644.10 Td (value ) Tj ET Q q 0 0 0 rg BT 246.58 644.10 Td (should ) Tj ET Q q 0 0 0 rg BT 275.47 644.10 Td (not ) Tj ET Q q 0 0 0 rg BT 290.46 644.10 Td (have ) Tj ET Q q 0 0 0 rg BT 311.55 644.10 Td (a ) Tj ET Q q 0 0 0 rg BT 318.21 644.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 362.64 644.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 392.06 644.10 Td (on ) Tj ET Q q 0 0 0 rg BT 404.28 644.10 Td (our ) Tj ET Q q 0 0 0 rg BT 419.83 644.10 Td (fixed-rate ) Tj ET Q q 0 0 0 rg BT 460.90 644.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 480.34 644.10 Td (until ) Tj ET Q q 0 0 0 rg BT 500.89 644.10 Td (we ) Tj ET Q q 0 0 0 rg BT 514.76 644.10 Td (are ) Tj ET Q q 0 0 0 rg BT 529.19 644.10 Td (required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.33 632.10 Td (elect ) Tj ET Q q 0 0 0 rg BT 81.70 632.10 Td (to ) Tj ET Q q 0 0 0 rg BT 91.98 632.10 Td (refinance ) Tj ET Q q 0 0 0 rg BT 131.67 632.10 Td (it.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 608.6 m 241 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241 608.6 m 245 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 608.6 m 285 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 608.6 m 289 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 608.6 m 329 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 608.6 m 333 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333 608.6 m 373 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 608.6 m 377 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 608.6 m 417 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 608.6 m 421 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 608.6 m 466 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 608.6 m 470 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 608.6 m 513 608.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 595.6 m 196 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 595.6 m 241 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241 595.6 m 245 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 595.6 m 285 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 595.6 m 289 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 595.6 m 329 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 595.6 m 333 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333 595.6 m 373 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 595.6 m 377 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 595.6 m 417 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 595.6 m 421 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 595.6 m 466 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 595.6 m 470 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 595.6 m 513 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 595.6 m 517 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 595.6 m 562 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 595.6 m 196 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 547.6 m 196 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 547.6 m 241 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241 547.6 m 245 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 547.6 m 285 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 547.6 m 289 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 547.6 m 329 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 547.6 m 333 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333 547.6 m 373 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 547.6 m 377 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 547.6 m 417 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 547.6 m 421 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 547.6 m 466 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 547.6 m 470 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 547.6 m 513 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 547.6 m 517 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 547.6 m 562 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 523.6 m 196 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 523.6 m 241 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241 523.6 m 245 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 523.6 m 285 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 523.6 m 289 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 523.6 m 329 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 523.6 m 333 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333 523.6 m 373 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 523.6 m 377 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 523.6 m 417 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 523.6 m 421 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 523.6 m 466 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 523.6 m 470 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 523.6 m 513 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 523.6 m 517 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 523.6 m 562 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 476.6 m 241 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241 476.6 m 245 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 476.6 m 285 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 476.6 m 289 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 476.6 m 329 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 476.6 m 333 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333 476.6 m 373 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 476.6 m 377 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 476.6 m 417 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 476.6 m 421 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 476.6 m 466 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 476.6 m 470 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 476.6 m 513 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 476.6 m 517 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 476.6 m 562 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 476.6 m 196 476.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 450.6 m 196 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 450.6 m 241 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241 450.6 m 245 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 450.6 m 285 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 450.6 m 289 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289 450.6 m 329 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329 450.6 m 333 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333 450.6 m 373 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 450.6 m 377 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 450.6 m 417 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 450.6 m 421 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 450.6 m 466 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 450.6 m 470 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 450.6 m 513 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 450.6 m 517 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 450.6 m 562 450.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.00 612.83 Td (Expected Cash Flows by Period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.15 612.83 Td (Fair) Tj ET Q q 0 0 0 rg BT 535.74 612.83 Td ( ) Tj ET Q q 0 0 0 rg BT 537.59 612.83 Td (V) Tj ET Q q 0 0 0 rg BT 542.93 612.83 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 599.85 Td (\(Dollars in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.00 599.83 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.50 599.83 Td (2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.50 599.83 Td (2020) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.50 599.83 Td (2021) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.50 599.83 Td (2022) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.70 599.83 Td (Ther) Tj ET Q q 0 0 0 rg BT 441.51 599.83 Td (eafter) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 482.25 599.83 Td (T) Tj ET Q q 0 0 0 rg BT 487.22 599.83 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.75 599.83 Td (6/30/2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 587.55 Td (ASSETS:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 575.55 Td (Mortgage loans held for sale:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 563.55 Td (Fixed rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.50 563.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 207.75 563.55 Td (103,331) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 563.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.80 563.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.80 563.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.80 563.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 563.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.50 563.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.75 563.55 Td (103,331) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.50 563.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 563.55 Td (101,954) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 551.55 Td (W) Tj ET Q q 0 0 0 rg BT 58.73 551.55 Td (eighted average interest rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.75 551.55 Td (4.51) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.80 551.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 551.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.80 551.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.80 551.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.80 551.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 551.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.75 551.55 Td (4.51) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.80 551.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 539.55 Td (V) Tj ET Q q 0 0 0 rg BT 56.83 539.55 Td (ariable rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.50 539.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.75 539.55 Td (6,088) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 539.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.80 539.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.80 539.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.80 539.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 539.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.50 539.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.75 539.55 Td (6,088) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.50 539.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.75 539.55 Td (6,046) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 527.55 Td (W) Tj ET Q q 0 0 0 rg BT 58.73 527.55 Td (eighted average interest rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.75 527.55 Td (4.24) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.80 527.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 527.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.80 527.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.80 527.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.80 527.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 527.55 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.75 527.55 Td (4.24) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.80 527.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 504.55 Td (LIABILITIES:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 492.55 Td (Long-term debt fixed rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.50 492.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.75 492.55 Td (2,326) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 247.50 492.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.80 492.55 Td (1,213) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.50 492.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.80 492.55 Td (1,693) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.50 492.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.80 492.55 Td (301,286) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.50 492.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.80 492.55 Td (866) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.50 492.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.75 492.55 Td (250,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.50 492.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.75 492.55 Td (557,384) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.50 492.55 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 492.55 Td (547,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 480.55 Td (W) Tj ET Q q 0 0 0 rg BT 58.73 480.55 Td (eighted average interest rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.75 480.55 Td (5.49) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.80 480.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.80 480.55 Td (5.49) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.80 480.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.80 480.55 Td (5.49) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.80 480.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.80 480.55 Td (6.72) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.80 480.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.80 480.55 Td (5.75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.80 480.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.75 480.55 Td (5.63) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 458.80 480.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.75 480.55 Td (6.23) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.80 480.55 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 467.85 Td (Short-term debt variable rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.50 467.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 207.75 467.85 Td (274,963) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 467.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.80 467.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.80 467.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.80 467.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 467.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.50 467.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.75 467.85 Td (274,963) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.50 467.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.75 467.85 Td (274,963) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.50 454.85 Td (W) Tj ET Q q 0 0 0 rg BT 58.41 454.85 Td (eighted average interest rate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.75 454.85 Td (4.41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.80 454.85 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.80 454.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.80 454.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.80 454.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.80 454.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.80 454.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.75 454.85 Td (4.41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.80 454.85 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 111 0 obj <><>] /Rotate 0 /Contents 112 0 R>> endobj 112 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (ITEM 4: CONTROLS ) Tj ET Q q 0 0 0 rg BT 150.07 740.25 Td (AND PROCEDURES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (Conclusion ) Tj ET Q q 0 0 0 rg BT 99.79 716.25 Td (Regarding ) Tj ET Q q 0 0 0 rg BT 147.29 716.25 Td (the ) Tj ET Q q 0 0 0 rg BT 163.12 716.25 Td (Effectiveness ) Tj ET Q q 0 0 0 rg BT 221.16 716.25 Td (of ) Tj ET Q q 0 0 0 rg BT 231.99 716.25 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 271.81 716.25 Td (e ) Tj ET Q q 0 0 0 rg BT 278.75 716.25 Td (Contr) Tj ET Q q 0 0 0 rg BT 304.12 716.25 Td (ols ) Tj ET Q q 0 0 0 rg BT 318.29 716.25 Td (and ) Tj ET Q q 0 0 0 rg BT 336.91 716.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 347.28 716.25 Td (ocedur) Tj ET Q q 0 0 0 rg BT 376.54 716.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (An ) Tj ET Q q 0 0 0 rg BT 64.44 692.25 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 108.80 692.25 Td (of ) Tj ET Q q 0 0 0 rg BT 119.85 692.25 Td (the ) Tj ET Q q 0 0 0 rg BT 134.78 692.25 Td (ef) Tj ET Q q 0 0 0 rg BT 142.37 692.25 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 189.51 692.25 Td (of ) Tj ET Q q 0 0 0 rg BT 200.56 692.25 Td (the ) Tj ET Q q 0 0 0 rg BT 215.49 692.25 Td (Company) Tj ET Q q 0 0 0 rg BT 257.16 692.25 Td (s ) Tj ET Q q 0 0 0 rg BT 263.76 692.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 307.03 692.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 341.96 692.25 Td (and ) Tj ET Q q 0 0 0 rg BT 359.12 692.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 405.70 692.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 420.08 692.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 452.78 692.25 Td (in ) Tj ET Q q 0 0 0 rg BT 463.27 692.25 Td (Rule ) Tj ET Q q 0 0 0 rg BT 484.88 692.25 Td (13a-15\(e\) ) Tj ET Q q 0 0 0 rg BT 526.46 692.25 Td (and ) Tj ET Q q 0 0 0 rg BT 543.61 692.25 Td (Rule ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (15d-15\(e\) ) Tj ET Q q 0 0 0 rg BT 92.39 680.25 Td (under ) Tj ET Q q 0 0 0 rg BT 118.63 680.25 Td (the ) Tj ET Q q 0 0 0 rg BT 134.31 680.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 177.21 680.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 219.34 680.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 237.24 680.25 Td (of ) Tj ET Q q 0 0 0 rg BT 249.04 680.25 Td (1934, ) Tj ET Q q 0 0 0 rg BT 275.00 680.25 Td (as ) Tj ET Q q 0 0 0 rg BT 286.80 680.25 Td (amended\) ) Tj ET Q q 0 0 0 rg BT 329.69 680.25 Td (was ) Tj ET Q q 0 0 0 rg BT 348.70 680.25 Td (performed ) Tj ET Q q 0 0 0 rg BT 393.82 680.25 Td (by ) Tj ET Q q 0 0 0 rg BT 407.28 680.25 Td (the ) Tj ET Q q 0 0 0 rg BT 422.96 680.25 Td (Company) Tj ET Q q 0 0 0 rg BT 464.63 680.25 Td (s ) Tj ET Q q 0 0 0 rg BT 471.99 680.25 Td (management, ) Tj ET Q q 0 0 0 rg BT 529.04 680.25 Td (with ) Tj ET Q q 0 0 0 rg BT 550.29 680.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.25 Td (participation ) Tj ET Q q 0 0 0 rg BT 101.84 668.25 Td (of ) Tj ET Q q 0 0 0 rg BT 111.97 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 125.99 668.25 Td (Company) Tj ET Q q 0 0 0 rg BT 167.65 668.25 Td (s ) Tj ET Q q 0 0 0 rg BT 173.34 668.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 210.69 668.25 Td (executive ) Tj ET Q q 0 0 0 rg BT 250.80 668.25 Td (of) Tj ET Q q 0 0 0 rg BT 258.95 668.25 Td (ficer ) Tj ET Q q 0 0 0 rg BT 279.06 668.25 Td (and ) Tj ET Q q 0 0 0 rg BT 295.30 668.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 332.65 668.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 369.43 668.25 Td (of) Tj ET Q q 0 0 0 rg BT 377.58 668.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 395.34 668.25 Td (. ) Tj ET Q q 0 0 0 rg BT 402.14 668.25 Td (Based ) Tj ET Q q 0 0 0 rg BT 428.38 668.25 Td (on ) Tj ET Q q 0 0 0 rg BT 440.18 668.25 Td (that ) Tj ET Q q 0 0 0 rg BT 456.98 668.25 Td (evaluation, ) Tj ET Q q 0 0 0 rg BT 502.93 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 516.95 668.25 Td (Company) Tj ET Q q 0 0 0 rg BT 558.61 668.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 87.50 656.25 Td (executive ) Tj ET Q q 0 0 0 rg BT 128.27 656.25 Td (of) Tj ET Q q 0 0 0 rg BT 136.42 656.25 Td (ficer ) Tj ET Q q 0 0 0 rg BT 157.20 656.25 Td (and ) Tj ET Q q 0 0 0 rg BT 174.10 656.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 212.10 656.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 249.54 656.25 Td (of) Tj ET Q q 0 0 0 rg BT 257.69 656.25 Td (ficer ) Tj ET Q q 0 0 0 rg BT 278.46 656.25 Td (concluded ) Tj ET Q q 0 0 0 rg BT 322.02 656.25 Td (that ) Tj ET Q q 0 0 0 rg BT 339.47 656.25 Td (the ) Tj ET Q q 0 0 0 rg BT 354.15 656.25 Td (Company) Tj ET Q q 0 0 0 rg BT 395.81 656.25 Td (s ) Tj ET Q q 0 0 0 rg BT 402.17 656.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 445.17 656.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 479.85 656.25 Td (and ) Tj ET Q q 0 0 0 rg BT 496.75 656.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 543.07 656.25 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 644.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 86.79 644.25 Td (as ) Tj ET Q q 0 0 0 rg BT 97.62 644.25 Td (of ) Tj ET Q q 0 0 0 rg BT 108.45 644.25 Td (the ) Tj ET Q q 0 0 0 rg BT 123.17 644.25 Td (end ) Tj ET Q q 0 0 0 rg BT 140.11 644.25 Td (of ) Tj ET Q q 0 0 0 rg BT 150.94 644.25 Td (the ) Tj ET Q q 0 0 0 rg BT 165.65 644.25 Td (period ) Tj ET Q q 0 0 0 rg BT 193.70 644.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 227.84 644.25 Td (by ) Tj ET Q q 0 0 0 rg BT 240.34 644.25 Td (this ) Tj ET Q q 0 0 0 rg BT 257.29 644.25 Td (report.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 620.25 Td (Changes ) Tj ET Q q 0 0 0 rg BT 88.67 620.25 Td (in ) Tj ET Q q 0 0 0 rg BT 99.51 620.25 Td (Internal ) Tj ET Q q 0 0 0 rg BT 137.01 620.25 Td (Contr) Tj ET Q q 0 0 0 rg BT 162.39 620.25 Td (ol ) Tj ET Q q 0 0 0 rg BT 172.66 620.25 Td (over) Tj ET Q q 0 0 0 rg BT 191.36 620.25 Td ( ) Tj ET Q q 0 0 0 rg BT 193.86 620.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 236.37 620.25 Td (Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.25 Td (There ) Tj ET Q q 0 0 0 rg BT 74.96 596.25 Td (were ) Tj ET Q q 0 0 0 rg BT 96.54 596.25 Td (no ) Tj ET Q q 0 0 0 rg BT 108.68 596.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 143.04 596.25 Td (in ) Tj ET Q q 0 0 0 rg BT 152.96 596.25 Td (our ) Tj ET Q q 0 0 0 rg BT 168.44 596.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 201.12 596.25 Td (control ) Tj ET Q q 0 0 0 rg BT 231.59 596.25 Td (over ) Tj ET Q q 0 0 0 rg BT 251.51 596.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 288.64 596.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 327.44 596.25 Td (during ) Tj ET Q q 0 0 0 rg BT 355.69 596.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.05 596.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 400.52 596.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 426.54 596.25 Td (June ) Tj ET Q q 0 0 0 rg BT 447.01 596.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 461.66 596.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.66 596.25 Td ( ) Tj ET Q q 0 0 0 rg BT 483.81 596.25 Td (that ) Tj ET Q q 0 0 0 rg BT 500.95 596.25 Td (have ) Tj ET Q q 0 0 0 rg BT 521.97 596.25 Td (materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.09 584.25 Td (fected, ) Tj ET Q q 0 0 0 rg BT 86.51 584.25 Td (or ) Tj ET Q q 0 0 0 rg BT 97.34 584.25 Td (are ) Tj ET Q q 0 0 0 rg BT 112.05 584.25 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 157.86 584.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 183.14 584.25 Td (to ) Tj ET Q q 0 0 0 rg BT 193.42 584.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 236.45 584.25 Td (af) Tj ET Q q 0 0 0 rg BT 244.04 584.25 Td (fect, ) Tj ET Q q 0 0 0 rg BT 264.03 584.25 Td (our ) Tj ET Q q 0 0 0 rg BT 279.86 584.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 312.90 584.25 Td (control ) Tj ET Q q 0 0 0 rg BT 343.72 584.25 Td (over ) Tj ET Q q 0 0 0 rg BT 363.99 584.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 401.47 584.25 Td (reporting. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 558.68505859375 m 199.3095703125 558.68505859375 l s q 0 0 0 rg BT 49.50 560.25 Td (Part II - OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 173.75 560.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 534.9169921875 m 154.4658203125 534.9169921875 l s q 0 0 0 rg BT 49.50 536.25 Td (Item 1. Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.69 512.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.22 512.25 Td (and ) Tj ET Q q 0 0 0 rg BT 126.30 512.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 156.15 512.25 Td (of ) Tj ET Q q 0 0 0 rg BT 167.12 512.25 Td (its ) Tj ET Q q 0 0 0 rg BT 179.22 512.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 229.08 512.25 Td (have ) Tj ET Q q 0 0 0 rg BT 250.60 512.25 Td (received ) Tj ET Q q 0 0 0 rg BT 287.10 512.25 Td (claims ) Tj ET Q q 0 0 0 rg BT 315.85 512.25 Td (from ) Tj ET Q q 0 0 0 rg BT 337.94 512.25 Td (homeowners ) Tj ET Q q 0 0 0 rg BT 391.68 512.25 Td (in ) Tj ET Q q 0 0 0 rg BT 402.10 512.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 431.95 512.25 Td (of ) Tj ET Q q 0 0 0 rg BT 442.92 512.25 Td (our ) Tj ET Q q 0 0 0 rg BT 458.89 512.25 Td (Florida ) Tj ET Q q 0 0 0 rg BT 490.43 512.25 Td (communities ) Tj ET Q q 0 0 0 rg BT 544.73 512.25 Td (\(and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (been ) Tj ET Q q 0 0 0 rg BT 70.55 500.25 Td (named ) Tj ET Q q 0 0 0 rg BT 99.38 500.25 Td (as ) Tj ET Q q 0 0 0 rg BT 109.89 500.25 Td (a ) Tj ET Q q 0 0 0 rg BT 116.50 500.25 Td (defendant ) Tj ET Q q 0 0 0 rg BT 158.10 500.25 Td (in ) Tj ET Q q 0 0 0 rg BT 168.05 500.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 189.66 500.25 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 240.15 500.25 Td (initiated ) Tj ET Q q 0 0 0 rg BT 275.10 500.25 Td (by ) Tj ET Q q 0 0 0 rg BT 287.27 500.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 316.65 500.25 Td (of ) Tj ET Q q 0 0 0 rg BT 327.16 500.25 Td (such ) Tj ET Q q 0 0 0 rg BT 347.66 500.25 Td (homeowners\) ) Tj ET Q q 0 0 0 rg BT 404.27 500.25 Td (related ) Tj ET Q q 0 0 0 rg BT 433.64 500.25 Td (to ) Tj ET Q q 0 0 0 rg BT 443.60 500.25 Td (stucco ) Tj ET Q q 0 0 0 rg BT 471.32 500.25 Td (on ) Tj ET Q q 0 0 0 rg BT 483.49 500.25 Td (their ) Tj ET Q q 0 0 0 rg BT 503.99 500.25 Td (homes. ) Tj ET Q q 0 0 0 rg BT 534.78 500.25 Td ( ) Tj ET Q q 0 0 0 rg BT 536.95 500.25 Td (Please ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.25 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 64.7685546875 486.9169921875 m 91.70703125 486.9169921875 l s q 0 0 1 rg BT 64.77 488.25 Td (Note ) Tj ET Q q 0 0 1 rg BT 86.71 488.25 Td (6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 91.71 488.25 Td ( ) Tj ET Q q 0 0 0 rg BT 94.21 488.25 Td (to ) Tj ET Q q 0 0 0 rg BT 104.49 488.25 Td (the ) Tj ET Q q 0 0 0 rg BT 119.20 488.25 Td (Company) Tj ET Q q 0 0 0 rg BT 160.87 488.25 Td (s ) Tj ET Q q 0 0 0 rg BT 167.26 488.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 204.74 488.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 249.45 488.25 Td (for ) Tj ET Q q 0 0 0 rg BT 263.61 488.25 Td (further ) Tj ET Q q 0 0 0 rg BT 293.32 488.25 Td (information ) Tj ET Q q 0 0 0 rg BT 343.03 488.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 383.85 488.25 Td (these ) Tj ET Q q 0 0 0 rg BT 406.89 488.25 Td (stucco ) Tj ET Q q 0 0 0 rg BT 434.94 488.25 Td (claims.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (The ) Tj ET Q q 0 0 0 rg BT 66.97 464.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 107.78 464.25 Td (and ) Tj ET Q q 0 0 0 rg BT 124.14 464.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 153.27 464.25 Td (of ) Tj ET Q q 0 0 0 rg BT 163.52 464.25 Td (its ) Tj ET Q q 0 0 0 rg BT 174.89 464.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 224.03 464.25 Td (have ) Tj ET Q q 0 0 0 rg BT 244.83 464.25 Td (been ) Tj ET Q q 0 0 0 rg BT 265.63 464.25 Td (named ) Tj ET Q q 0 0 0 rg BT 294.21 464.25 Td (as ) Tj ET Q q 0 0 0 rg BT 304.46 464.25 Td (defendants ) Tj ET Q q 0 0 0 rg BT 349.70 464.25 Td (in ) Tj ET Q q 0 0 0 rg BT 359.40 464.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 388.52 464.25 Td (other ) Tj ET Q q 0 0 0 rg BT 410.99 464.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 432.35 464.25 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 482.59 464.25 Td (which ) Tj ET Q q 0 0 0 rg BT 508.95 464.25 Td (are ) Tj ET Q q 0 0 0 rg BT 523.08 464.25 Td (incidental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.83 452.25 Td (our ) Tj ET Q q 0 0 0 rg BT 75.71 452.25 Td (business. ) Tj ET Q q 0 0 0 rg BT 114.65 452.25 Td ( ) Tj ET Q q 0 0 0 rg BT 117.01 452.25 Td (While ) Tj ET Q q 0 0 0 rg BT 143.99 452.25 Td (management ) Tj ET Q q 0 0 0 rg BT 197.63 452.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 236.27 452.25 Td (believes ) Tj ET Q q 0 0 0 rg BT 271.59 452.25 Td (that ) Tj ET Q q 0 0 0 rg BT 289.13 452.25 Td (the ) Tj ET Q q 0 0 0 rg BT 303.90 452.25 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 339.21 452.25 Td (resolution ) Tj ET Q q 0 0 0 rg BT 381.76 452.25 Td (of ) Tj ET Q q 0 0 0 rg BT 392.64 452.25 Td (these ) Tj ET Q q 0 0 0 rg BT 415.73 452.25 Td (other ) Tj ET Q q 0 0 0 rg BT 438.83 452.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 460.81 452.25 Td (proceedings, ) Tj ET Q q 0 0 0 rg BT 514.17 452.25 Td (individually ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.66 440.25 Td (in ) Tj ET Q q 0 0 0 rg BT 77.16 440.25 Td (the ) Tj ET Q q 0 0 0 rg BT 92.09 440.25 Td (aggregate, ) Tj ET Q q 0 0 0 rg BT 136.17 440.25 Td (will ) Tj ET Q q 0 0 0 rg BT 154.45 440.25 Td (not ) Tj ET Q q 0 0 0 rg BT 169.95 440.25 Td (have ) Tj ET Q q 0 0 0 rg BT 191.55 440.25 Td (a ) Tj ET Q q 0 0 0 rg BT 198.70 440.25 Td (material ) Tj ET Q q 0 0 0 rg BT 234.18 440.25 Td (ef) Tj ET Q q 0 0 0 rg BT 241.77 440.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 259.48 440.25 Td (on ) Tj ET Q q 0 0 0 rg BT 272.20 440.25 Td (the ) Tj ET Q q 0 0 0 rg BT 287.13 440.25 Td (Company) Tj ET Q q 0 0 0 rg BT 328.80 440.25 Td (s ) Tj ET Q q 0 0 0 rg BT 335.41 440.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 373.11 440.25 Td (condition, ) Tj ET Q q 0 0 0 rg BT 416.10 440.25 Td (results ) Tj ET Q q 0 0 0 rg BT 444.93 440.25 Td (of ) Tj ET Q q 0 0 0 rg BT 455.98 440.25 Td (operationsand ) Tj ET Q q 0 0 0 rg BT 517.29 440.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 537.78 440.25 Td (flows, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.25 Td (such ) Tj ET Q q 0 0 0 rg BT 70.36 428.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 92.33 428.25 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 143.17 428.25 Td (are ) Tj ET Q q 0 0 0 rg BT 157.91 428.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 188.77 428.25 Td (to ) Tj ET Q q 0 0 0 rg BT 199.07 428.25 Td (inherent ) Tj ET Q q 0 0 0 rg BT 234.37 428.25 Td (uncertainties. ) Tj ET Q q 0 0 0 rg BT 290.49 428.25 Td ( ) Tj ET Q q 0 0 0 rg BT 292.84 428.25 Td (The ) Tj ET Q q 0 0 0 rg BT 310.91 428.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 352.33 428.25 Td (has ) Tj ET Q q 0 0 0 rg BT 368.19 428.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 405.70 428.25 Td (a ) Tj ET Q q 0 0 0 rg BT 412.67 428.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 446.31 428.25 Td (to ) Tj ET Q q 0 0 0 rg BT 456.62 428.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 489.69 428.25 Td (for ) Tj ET Q q 0 0 0 rg BT 503.88 428.25 Td (the ) Tj ET Q q 0 0 0 rg BT 518.63 428.25 Td (anticipated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 416.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 73.89 416.25 Td (including ) Tj ET Q q 0 0 0 rg BT 113.56 416.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 134.89 416.25 Td (defense ) Tj ET Q q 0 0 0 rg BT 167.32 416.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 191.71 416.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 234.70 416.25 Td (with ) Tj ET Q q 0 0 0 rg BT 254.37 416.25 Td (the ) Tj ET Q q 0 0 0 rg BT 268.48 416.25 Td (resolution ) Tj ET Q q 0 0 0 rg BT 310.37 416.25 Td (of ) Tj ET Q q 0 0 0 rg BT 320.59 416.25 Td (these ) Tj ET Q q 0 0 0 rg BT 343.03 416.25 Td (other ) Tj ET Q q 0 0 0 rg BT 365.47 416.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 386.80 416.25 Td (proceedings. ) Tj ET Q q 0 0 0 rg BT 439.51 416.25 Td ( ) Tj ET Q q 0 0 0 rg BT 441.40 416.25 Td (However) Tj ET Q q 0 0 0 rg BT 477.65 416.25 Td (, ) Tj ET Q q 0 0 0 rg BT 482.05 416.25 Td (the ) Tj ET Q q 0 0 0 rg BT 496.16 416.25 Td (possibility ) Tj ET Q q 0 0 0 rg BT 539.73 416.25 Td (exists ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.25 Td (that ) Tj ET Q q 0 0 0 rg BT 66.92 404.25 Td (the ) Tj ET Q q 0 0 0 rg BT 81.56 404.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 103.99 404.25 Td (to ) Tj ET Q q 0 0 0 rg BT 114.19 404.25 Td (resolve ) Tj ET Q q 0 0 0 rg BT 145.50 404.25 Td (these ) Tj ET Q q 0 0 0 rg BT 168.47 404.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 190.33 404.25 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 241.07 404.25 Td (could ) Tj ET Q q 0 0 0 rg BT 265.71 404.25 Td (dif) Tj ET Q q 0 0 0 rg BT 276.64 404.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 290.16 404.25 Td (from ) Tj ET Q q 0 0 0 rg BT 312.03 404.25 Td (the ) Tj ET Q q 0 0 0 rg BT 326.67 404.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 364.07 404.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 403.71 404.25 Td (and, ) Tj ET Q q 0 0 0 rg BT 423.07 404.25 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 464.08 404.25 Td (have ) Tj ET Q q 0 0 0 rg BT 485.39 404.25 Td (a ) Tj ET Q q 0 0 0 rg BT 492.25 404.25 Td (material ) Tj ET Q q 0 0 0 rg BT 527.44 404.25 Td (ef) Tj ET Q q 0 0 0 rg BT 535.02 404.25 Td (fecton ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 392.25 Td (Company) Tj ET Q q 0 0 0 rg BT 105.88 392.25 Td (s ) Tj ET Q q 0 0 0 rg BT 112.27 392.25 Td (net ) Tj ET Q q 0 0 0 rg BT 126.99 392.25 Td (income ) Tj ET Q q 0 0 0 rg BT 158.92 392.25 Td (for ) Tj ET Q q 0 0 0 rg BT 173.08 392.25 Td (the ) Tj ET Q q 0 0 0 rg BT 187.80 392.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 219.74 392.25 Td (in ) Tj ET Q q 0 0 0 rg BT 230.02 392.25 Td (which ) Tj ET Q q 0 0 0 rg BT 256.96 392.25 Td (they ) Tj ET Q q 0 0 0 rg BT 276.67 392.25 Td (are ) Tj ET Q q 0 0 0 rg BT 291.38 392.25 Td (resolved.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 366.9169921875 m 137.8251953125 366.9169921875 l s q 0 0 0 rg BT 49.50 368.25 Td (Item 1A. Risk Factors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.25 Td (Except ) Tj ET Q q 0 0 0 rg BT 79.82 344.25 Td (as ) Tj ET Q q 0 0 0 rg BT 90.71 344.25 Td (set ) Tj ET Q q 0 0 0 rg BT 104.38 344.25 Td (forth ) Tj ET Q q 0 0 0 rg BT 126.38 344.25 Td (below) Tj ET Q q 0 0 0 rg BT 150.17 344.25 Td (, ) Tj ET Q q 0 0 0 rg BT 155.23 344.25 Td (there ) Tj ET Q q 0 0 0 rg BT 177.78 344.25 Td (have ) Tj ET Q q 0 0 0 rg BT 199.21 344.25 Td (been ) Tj ET Q q 0 0 0 rg BT 220.65 344.25 Td (no ) Tj ET Q q 0 0 0 rg BT 233.21 344.25 Td (material ) Tj ET Q q 0 0 0 rg BT 268.53 344.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 303.30 344.25 Td (to ) Tj ET Q q 0 0 0 rg BT 313.63 344.25 Td (the ) Tj ET Q q 0 0 0 rg BT 328.41 344.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 345.97 344.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 375.74 344.25 Td (appearing ) Tj ET Q q 0 0 0 rg BT 417.72 344.25 Td (in ) Tj ET Q q 0 0 0 rg BT 428.06 344.25 Td (our ) Tj ET Q q 0 0 0 rg BT 443.38 344.25 Td (Annual ) Tj ET Q q 0 0 0 rg BT 475.38 344.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 505.16 344.25 Td (on ) Tj ET Q q 0 0 0 rg BT 517.72 344.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 541.95 344.25 Td (10-K ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.25 Td (for ) Tj ET Q q 0 0 0 rg BT 63.66 332.25 Td (the ) Tj ET Q q 0 0 0 rg BT 78.38 332.25 Td (fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.53 332.25 Td (year ) Tj ET Q q 0 0 0 rg BT 122.24 332.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 148.62 332.25 Td (December ) Tj ET Q q 0 0 0 rg BT 192.20 332.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 207.20 332.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.20 332.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 308.25 Td (W) Tj ET Q q 0 0 0 rg BT 57.65 308.25 Td (e may write-of) Tj ET Q q 0 0 0 rg BT 116.34 308.25 Td (f intangible assets, such asgoodwill.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 284.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.46 284.25 Td (have ) Tj ET Q q 0 0 0 rg BT 87.23 284.25 Td (recordedgoodwillin ) Tj ET Q q 0 0 0 rg BT 173.43 284.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 220.19 284.25 Td (with ) Tj ET Q q 0 0 0 rg BT 240.85 284.25 Td (the ) Tj ET Q q 0 0 0 rg BT 255.96 284.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 302.73 284.25 Td (of ) Tj ET Q q 0 0 0 rg BT 313.95 284.25 Td (the ) Tj ET Q q 0 0 0 rg BT 329.05 284.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 355.27 284.25 Td (and ) Tj ET Q q 0 0 0 rg BT 372.60 284.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 417.14 284.25 Td (of ) Tj ET Q q 0 0 0 rg BT 428.36 284.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 465.68 284.25 Td (Homes. ) Tj ET Q q 0 0 0 rg BT 499.40 284.25 Td ( ) Tj ET Q q 0 0 0 rg BT 502.29 284.25 Td (On ) Tj ET Q q 0 0 0 rg BT 517.40 284.25 Td (an ) Tj ET Q q 0 0 0 rg BT 529.72 284.25 Td (ongoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.25 Td (basis, ) Tj ET Q q 0 0 0 rg BT 73.68 272.25 Td (we ) Tj ET Q q 0 0 0 rg BT 87.02 272.25 Td (will ) Tj ET Q q 0 0 0 rg BT 104.25 272.25 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 139.24 272.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 173.13 272.25 Td (facts ) Tj ET Q q 0 0 0 rg BT 193.68 272.25 Td (and ) Tj ET Q q 0 0 0 rg BT 209.80 272.25 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 268.12 272.25 Td (indicate ) Tj ET Q q 0 0 0 rg BT 301.45 272.25 Td (any ) Tj ET Q q 0 0 0 rg BT 317.57 272.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 365.34 272.25 Td (of ) Tj ET Q q 0 0 0 rg BT 375.35 272.25 Td (the ) Tj ET Q q 0 0 0 rg BT 389.25 272.25 Td (value ) Tj ET Q q 0 0 0 rg BT 412.58 272.25 Td (of ) Tj ET Q q 0 0 0 rg BT 422.59 272.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 464.26 272.25 Td (assets. ) Tj ET Q q 0 0 0 rg BT 491.77 272.25 Td ( ) Tj ET Q q 0 0 0 rg BT 493.08 272.25 Td (As ) Tj ET Q q 0 0 0 rg BT 505.87 272.25 Td (circumstances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.25 Td (change, ) Tj ET Q q 0 0 0 rg BT 81.78 260.25 Td (we ) Tj ET Q q 0 0 0 rg BT 94.91 260.25 Td (cannot ) Tj ET Q q 0 0 0 rg BT 123.03 260.25 Td (assure ) Tj ET Q q 0 0 0 rg BT 149.49 260.25 Td (that ) Tj ET Q q 0 0 0 rg BT 165.95 260.25 Td (the ) Tj ET Q q 0 0 0 rg BT 179.64 260.25 Td (value ) Tj ET Q q 0 0 0 rg BT 202.76 260.25 Td (of ) Tj ET Q q 0 0 0 rg BT 212.56 260.25 Td (these ) Tj ET Q q 0 0 0 rg BT 234.57 260.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 276.03 260.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 300.83 260.25 Td (will ) Tj ET Q q 0 0 0 rg BT 317.85 260.25 Td (be ) Tj ET Q q 0 0 0 rg BT 328.76 260.25 Td (realized ) Tj ET Q q 0 0 0 rg BT 361.86 260.25 Td (by ) Tj ET Q q 0 0 0 rg BT 373.33 260.25 Td (us. ) Tj ET Q q 0 0 0 rg BT 386.19 260.25 Td ( ) Tj ET Q q 0 0 0 rg BT 387.66 260.25 Td (If ) Tj ET Q q 0 0 0 rg BT 395.78 260.25 Td (we ) Tj ET Q q 0 0 0 rg BT 408.91 260.25 Td (determine ) Tj ET Q q 0 0 0 rg BT 450.36 260.25 Td (that ) Tj ET Q q 0 0 0 rg BT 466.82 260.25 Td (a ) Tj ET Q q 0 0 0 rg BT 472.73 260.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 516.41 260.25 Td (impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.25 Td (has ) Tj ET Q q 0 0 0 rg BT 64.95 248.25 Td (occurred, ) Tj ET Q q 0 0 0 rg BT 104.55 248.25 Td (we ) Tj ET Q q 0 0 0 rg BT 118.33 248.25 Td (will ) Tj ET Q q 0 0 0 rg BT 136.01 248.25 Td (be ) Tj ET Q q 0 0 0 rg BT 147.58 248.25 Td (required ) Tj ET Q q 0 0 0 rg BT 183.01 248.25 Td (to ) Tj ET Q q 0 0 0 rg BT 192.92 248.25 Td (write-of) Tj ET Q q 0 0 0 rg BT 224.94 248.25 Td (f ) Tj ET Q q 0 0 0 rg BT 230.40 248.25 Td (the ) Tj ET Q q 0 0 0 rg BT 244.74 248.25 Td (impaired ) Tj ET Q q 0 0 0 rg BT 282.40 248.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 313.41 248.25 Td (of ) Tj ET Q q 0 0 0 rg BT 323.86 248.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 365.98 248.25 Td (assets, ) Tj ET Q q 0 0 0 rg BT 393.93 248.25 Td (which ) Tj ET Q q 0 0 0 rg BT 420.49 248.25 Td (could ) Tj ET Q q 0 0 0 rg BT 444.83 248.25 Td (have ) Tj ET Q q 0 0 0 rg BT 465.83 248.25 Td (a ) Tj ET Q q 0 0 0 rg BT 472.39 248.25 Td (material ) Tj ET Q q 0 0 0 rg BT 507.27 248.25 Td (adverse ) Tj ET Q q 0 0 0 rg BT 539.93 248.25 Td (ef) Tj ET Q q 0 0 0 rg BT 547.52 248.25 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.25 Td (on ) Tj ET Q q 0 0 0 rg BT 62.00 236.25 Td (our ) Tj ET Q q 0 0 0 rg BT 77.83 236.25 Td (results ) Tj ET Q q 0 0 0 rg BT 106.44 236.25 Td (of ) Tj ET Q q 0 0 0 rg BT 117.27 236.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 161.42 236.25 Td (in ) Tj ET Q q 0 0 0 rg BT 171.70 236.25 Td (the ) Tj ET Q q 0 0 0 rg BT 186.42 236.25 Td (period ) Tj ET Q q 0 0 0 rg BT 214.47 236.25 Td (in ) Tj ET Q q 0 0 0 rg BT 224.74 236.25 Td (which ) Tj ET Q q 0 0 0 rg BT 251.68 236.25 Td (the ) Tj ET Q q 0 0 0 rg BT 266.40 236.25 Td (write-of) Tj ET Q q 0 0 0 rg BT 298.43 236.25 Td (f ) Tj ET Q q 0 0 0 rg BT 304.26 236.25 Td (occurs.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 210.9169921875 m 321.9267578125 210.9169921875 l s q 0 0 0 rg BT 49.50 212.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 70.33 212.25 Td (2. ) Tj ET Q q 0 0 0 rg BT 80.33 212.25 Td (Unregistered ) Tj ET Q q 0 0 0 rg BT 134.47 212.25 Td (Sales ) Tj ET Q q 0 0 0 rg BT 158.08 212.25 Td (of ) Tj ET Q q 0 0 0 rg BT 168.91 212.25 Td (Equity ) Tj ET Q q 0 0 0 rg BT 198.07 212.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 240.01 212.25 Td (and ) Tj ET Q q 0 0 0 rg BT 256.95 212.25 Td (Use ) Tj ET Q q 0 0 0 rg BT 275.00 212.25 Td (of ) Tj ET Q q 0 0 0 rg BT 285.83 212.25 Td (Proceeds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 63.10 188.25 Td (Recent ) Tj ET Q q 0 0 0 rg BT 93.36 188.25 Td (Sales ) Tj ET Q q 0 0 0 rg BT 116.97 188.25 Td (of ) Tj ET Q q 0 0 0 rg BT 127.80 188.25 Td (Unregistered ) Tj ET Q q 0 0 0 rg BT 181.95 188.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 223.88 188.25 Td ( ) Tj ET Q q 0 0 0 rg BT 236.38 188.25 Td (None.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 63.66 164.25 Td (Use ) Tj ET Q q 0 0 0 rg BT 81.71 164.25 Td (of ) Tj ET Q q 0 0 0 rg BT 92.54 164.25 Td (Proceeds ) Tj ET Q q 0 0 0 rg BT 131.14 164.25 Td ( ) Tj ET Q q 0 0 0 rg BT 143.64 164.25 Td (Not ) Tj ET Q q 0 0 0 rg BT 160.59 164.25 Td (Applicable. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.25 Td (\(c\) Purchases of Equity Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.25 Td (There ) Tj ET Q q 0 0 0 rg BT 75.63 116.25 Td (were ) Tj ET Q q 0 0 0 rg BT 97.87 116.25 Td (no ) Tj ET Q q 0 0 0 rg BT 110.68 116.25 Td (purchases ) Tj ET Q q 0 0 0 rg BT 152.92 116.25 Td (made ) Tj ET Q q 0 0 0 rg BT 177.39 116.25 Td (by) Tj ET Q q 0 0 0 rg BT 186.74 116.25 Td (, ) Tj ET Q q 0 0 0 rg BT 192.05 116.25 Td (or ) Tj ET Q q 0 0 0 rg BT 203.20 116.25 Td (on ) Tj ET Q q 0 0 0 rg BT 216.01 116.25 Td (behalf ) Tj ET Q q 0 0 0 rg BT 243.81 116.25 Td (of, ) Tj ET Q q 0 0 0 rg BT 257.45 116.25 Td (the ) Tj ET Q q 0 0 0 rg BT 272.48 116.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 314.18 116.25 Td (or ) Tj ET Q q 0 0 0 rg BT 325.32 116.25 Td (any ) Tj ET Q q 0 0 0 rg BT 342.57 116.25 Td (af) Tj ET Q q 0 0 0 rg BT 354.60 116.25 Td (filiated ) Tj ET Q q 0 0 0 rg BT 385.73 116.25 Td (purchaser ) Tj ET Q q 0 0 0 rg BT 431.85 116.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 446.32 116.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 479.12 116.25 Td (in ) Tj ET Q q 0 0 0 rg BT 489.71 116.25 Td (Rule ) Tj ET Q q 0 0 0 rg BT 511.41 116.25 Td (10b-18\(a\)\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.25 Td (under ) Tj ET Q q 0 0 0 rg BT 74.94 104.25 Td (the ) Tj ET Q q 0 0 0 rg BT 89.82 104.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 131.92 104.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 173.42 104.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 190.53 104.25 Td (of ) Tj ET Q q 0 0 0 rg BT 201.53 104.25 Td (1934, ) Tj ET Q q 0 0 0 rg BT 226.69 104.25 Td (as ) Tj ET Q q 0 0 0 rg BT 237.69 104.25 Td (amended\) ) Tj ET Q q 0 0 0 rg BT 279.78 104.25 Td (of ) Tj ET Q q 0 0 0 rg BT 290.78 104.25 Td (the ) Tj ET Q q 0 0 0 rg BT 305.67 104.25 Td (Company) Tj ET Q q 0 0 0 rg BT 347.33 104.25 Td (s ) Tj ET Q q 0 0 0 rg BT 353.89 104.25 Td (common ) Tj ET Q q 0 0 0 rg BT 391.55 104.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 419.21 104.25 Td (during ) Tj ET Q q 0 0 0 rg BT 447.99 104.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.87 104.25 Td (three ) Tj ET Q q 0 0 0 rg BT 485.52 104.25 Td (months ) Tj ET Q q 0 0 0 rg BT 517.64 104.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 544.18 104.25 Td (June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 64.50 92.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.50 92.25 Td (. ) Tj ET Q q 0 0 0 rg BT 89.50 92.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.25 Td (Please ) Tj ET Q q 0 0 0 rg BT 77.41 68.25 Td (see ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 92.5322265625 66.9169921875 m 119.3291015625 66.9169921875 l s q 0 0 1 rg BT 92.53 68.25 Td (Note ) Tj ET Q q 0 0 1 rg BT 114.33 68.25 Td (8) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 119.33 68.25 Td ( ) Tj ET Q q 0 0 0 rg BT 121.69 68.25 Td (to ) Tj ET Q q 0 0 0 rg BT 131.82 68.25 Td (our ) Tj ET Q q 0 0 0 rg BT 147.51 68.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 184.85 68.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 229.42 68.25 Td (above ) Tj ET Q q 0 0 0 rg BT 255.66 68.25 Td (for ) Tj ET Q q 0 0 0 rg BT 269.68 68.25 Td (more ) Tj ET Q q 0 0 0 rg BT 292.58 68.25 Td (information ) Tj ET Q q 0 0 0 rg BT 342.15 68.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 382.83 68.25 Td (the ) Tj ET Q q 0 0 0 rg BT 397.40 68.25 Td (limit ) Tj ET Q q 0 0 0 rg BT 418.65 68.25 Td (imposed ) Tj ET Q q 0 0 0 rg BT 454.90 68.25 Td (by ) Tj ET Q q 0 0 0 rg BT 467.25 68.25 Td (the ) Tj ET Q q 0 0 0 rg BT 481.83 68.25 Td (indenture ) Tj ET Q q 0 0 0 rg BT 521.95 68.25 Td (governing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.04 56.25 Td (2025 ) Tj ET Q q 0 0 0 rg BT 87.25 56.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 115.57 56.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 141.12 56.25 Td (and ) Tj ET Q q 0 0 0 rg BT 157.77 56.25 Td (the ) Tj ET Q q 0 0 0 rg BT 172.20 56.25 Td (indenture ) Tj ET Q q 0 0 0 rg BT 212.17 56.25 Td (governing ) Tj ET Q q 0 0 0 rg BT 254.93 56.25 Td (our ) Tj ET Q q 0 0 0 rg BT 270.47 56.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 292.68 56.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 321.00 56.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 346.55 56.25 Td (on ) Tj ET Q q 0 0 0 rg BT 358.76 56.25 Td (our ) Tj ET Q q 0 0 0 rg BT 374.30 56.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 402.06 56.25 Td (to ) Tj ET Q q 0 0 0 rg BT 412.05 56.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 428.70 56.25 Td (dividends ) Tj ET Q q 0 0 0 rg BT 469.80 56.25 Td (on, ) Tj ET Q q 0 0 0 rg BT 484.51 56.25 Td (and ) Tj ET Q q 0 0 0 rg BT 501.17 56.25 Td (repurchase, ) Tj ET Q q 0 0 0 rg BT 549.18 56.25 Td (our ) Tj ET Q endstream endobj 113 0 obj <> endobj 114 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 742.10 Td (common ) Tj ET Q q 0 0 0 rg BT 86.68 742.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 113.86 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 130.48 742.10 Td (any ) Tj ET Q q 0 0 0 rg BT 147.11 742.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 185.93 742.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 213.11 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 223.62 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 238.03 742.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 279.10 742.10 Td (then ) Tj ET Q q 0 0 0 rg BT 298.50 742.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 347.36 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 357.32 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.72 742.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 403.91 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 414.42 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 428.83 742.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 462.68 742.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 495.40 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 505.36 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 520.88 742.10 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 730.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 90.33 730.10 Td (basket, ) Tj ET Q q 0 0 0 rg BT 125.31 730.10 Td (as ) Tj ET Q q 0 0 0 rg BT 136.14 730.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 168.63 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 178.90 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.62 730.10 Td (indentures. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 704.7669921875 m 209.4658203125 704.7669921875 l s q 0 0 0 rg BT 49.50 706.10 Td (Item 3. Defaults Upon Senior Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.47 706.10 Td ( - None.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 680.7669921875 m 178.640625 680.7669921875 l s q 0 0 0 rg BT 49.50 682.10 Td (Item 4. Mine Safety Disclosures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.64 682.10 Td ( - None.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 656.7669921875 m 153.357421875 656.7669921875 l s q 0 0 0 rg BT 49.50 658.10 Td (Item 5. Other Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.36 658.10 Td ( - None.) Tj ET Q endstream endobj 115 0 obj <> endobj 116 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (57) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 738.7669921875 m 116.16015625 738.7669921875 l s q 0 0 0 rg BT 49.50 740.10 Td (Item 6. Exhibits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (The exhibits required to be filed herewith are set forth below) Tj ET Q q 0 0 0 rg BT 292.10 716.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 60.15 682.7125976562501 m 91.8296875 682.7125976562501 l s q 0 0 0 rg BT 60.15 684.28 Td (Exhibit) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 58.3 672.7125976562501 m 93.76142578125 672.7125976562501 l s q 0 0 0 rg BT 58.30 674.28 Td (Number) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 312.75 672.7125976562501 m 362.1884765625 672.7125976562501 l s q 0 0 0 rg BT 312.75 674.28 Td (Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.25 656.17 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 654.8333984375 m 560.50439453125 654.8333984375 l s q 0 0 1 rg BT 117.00 656.17 Td (Second ) Tj ET Q q 0 0 1 rg BT 147.95 656.17 Td (Amendment ) Tj ET Q q 0 0 1 rg BT 199.33 656.17 Td (to ) Tj ET Q q 0 0 1 rg BT 209.06 656.17 Td (Second ) Tj ET Q q 0 0 1 rg BT 240.01 656.17 Td (Amended ) Tj ET Q q 0 0 1 rg BT 280.84 656.17 Td (and ) Tj ET Q q 0 0 1 rg BT 297.22 656.17 Td (Restated ) Tj ET Q q 0 0 1 rg BT 333.60 656.17 Td (Mortgage ) Tj ET Q q 0 0 1 rg BT 374.28 656.17 Td (W) Tj ET Q q 0 0 1 rg BT 382.92 656.17 Td (arehousing ) Tj ET Q q 0 0 1 rg BT 428.31 656.17 Td (Agreement, ) Tj ET Q q 0 0 1 rg BT 477.18 656.17 Td (dated ) Tj ET Q q 0 0 1 rg BT 500.78 656.17 Td (June ) Tj ET Q q 0 0 1 rg BT 521.06 656.17 Td (22, ) Tj ET Q q 0 0 1 rg BT 535.50 656.17 Td (2018, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 644.8333984375 m 560.5146484375 644.8333984375 l s q 0 0 1 rg BT 117.00 646.17 Td (by ) Tj ET Q q 0 0 1 rg BT 129.15 646.17 Td (and ) Tj ET Q q 0 0 1 rg BT 145.73 646.17 Td (among ) Tj ET Q q 0 0 1 rg BT 175.09 646.17 Td (M/I ) Tj ET Q q 0 0 1 rg BT 192.24 646.17 Td (Financial, ) Tj ET Q q 0 0 1 rg BT 234.09 646.17 Td (LLC, ) Tj ET Q q 0 0 1 rg BT 257.62 646.17 Td (as ) Tj ET Q q 0 0 1 rg BT 268.10 646.17 Td (borrower) Tj ET Q q 0 0 1 rg BT 304.35 646.17 Td (, ) Tj ET Q q 0 0 1 rg BT 308.99 646.17 Td (the ) Tj ET Q q 0 0 1 rg BT 323.36 646.17 Td (lenders ) Tj ET Q q 0 0 1 rg BT 354.38 646.17 Td (party ) Tj ET Q q 0 0 1 rg BT 377.07 646.17 Td (thereto ) Tj ET Q q 0 0 1 rg BT 406.98 646.17 Td (and ) Tj ET Q q 0 0 1 rg BT 423.56 646.17 Td (Comerica ) Tj ET Q q 0 0 1 rg BT 464.58 646.17 Td (Bank, ) Tj ET Q q 0 0 1 rg BT 490.33 646.17 Td (as ) Tj ET Q q 0 0 1 rg BT 500.81 646.17 Td (administrative ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 634.8333984375 m 560.513671875 634.8333984375 l s q 0 0 1 rg BT 117.00 636.17 Td (agent ) Tj ET Q q 0 0 1 rg BT 140.99 636.17 Td (\(incorporated ) Tj ET Q q 0 0 1 rg BT 197.19 636.17 Td (herein ) Tj ET Q q 0 0 1 rg BT 224.52 636.17 Td (by ) Tj ET Q q 0 0 1 rg BT 236.85 636.17 Td (reference ) Tj ET Q q 0 0 1 rg BT 276.38 636.17 Td (to ) Tj ET Q q 0 0 1 rg BT 286.49 636.17 Td (Exhibit ) Tj ET Q q 0 0 1 rg BT 318.27 636.17 Td (10.1 ) Tj ET Q q 0 0 1 rg BT 338.11 636.17 Td (to ) Tj ET Q q 0 0 1 rg BT 348.23 636.17 Td (the ) Tj ET Q q 0 0 1 rg BT 362.78 636.17 Td (Company) Tj ET Q q 0 0 1 rg BT 404.45 636.17 Td (s ) Tj ET Q q 0 0 1 rg BT 410.68 636.17 Td (Current ) Tj ET Q q 0 0 1 rg BT 443.56 636.17 Td (Report ) Tj ET Q q 0 0 1 rg BT 473.12 636.17 Td (on ) Tj ET Q q 0 0 1 rg BT 485.45 636.17 Td (Form ) Tj ET Q q 0 0 1 rg BT 509.46 636.17 Td (8-K ) Tj ET Q q 0 0 1 rg BT 527.35 636.17 Td (filed ) Tj ET Q q 0 0 1 rg BT 548.01 636.17 Td (on ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 624.8333984375 m 178.66015625 624.8333984375 l s q 0 0 1 rg BT 117.00 626.17 Td (June ) Tj ET Q q 0 0 1 rg BT 137.83 626.17 Td (22, ) Tj ET Q q 0 0 1 rg BT 152.83 626.17 Td (2018\).) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.25 607.17 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 605.8333984375 m 560.5078125 605.8333984375 l s q 0 0 1 rg BT 117.00 607.17 Td (Commitment ) Tj ET Q q 0 0 1 rg BT 172.09 607.17 Td (Increase ) Tj ET Q q 0 0 1 rg BT 207.20 607.17 Td (Activation ) Tj ET Q q 0 0 1 rg BT 251.73 607.17 Td (Notice ) Tj ET Q q 0 0 1 rg BT 280.70 607.17 Td (dated ) Tj ET Q q 0 0 1 rg BT 304.67 607.17 Td (June ) Tj ET Q q 0 0 1 rg BT 325.31 607.17 Td (29, ) Tj ET Q q 0 0 1 rg BT 340.13 607.17 Td (2018, ) Tj ET Q q 0 0 1 rg BT 364.94 607.17 Td (by ) Tj ET Q q 0 0 1 rg BT 377.26 607.17 Td (and ) Tj ET Q q 0 0 1 rg BT 394.01 607.17 Td (among ) Tj ET Q q 0 0 1 rg BT 423.54 607.17 Td (M/I ) Tj ET Q q 0 0 1 rg BT 440.85 607.17 Td (Homes, ) Tj ET Q q 0 0 1 rg BT 474.00 607.17 Td (Inc., ) Tj ET Q q 0 0 1 rg BT 494.08 607.17 Td (as ) Tj ET Q q 0 0 1 rg BT 504.73 607.17 Td (borrower) Tj ET Q q 0 0 1 rg BT 540.98 607.17 Td (, ) Tj ET Q q 0 0 1 rg BT 545.79 607.17 Td (the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 595.8333984375 m 522.1806640625 595.8333984375 l s q 0 0 1 rg BT 117.00 597.17 Td (lenders ) Tj ET Q q 0 0 1 rg BT 148.38 597.17 Td (party ) Tj ET Q q 0 0 1 rg BT 171.42 597.17 Td (thereto, ) Tj ET Q q 0 0 1 rg BT 204.19 597.17 Td (and ) Tj ET Q q 0 0 1 rg BT 221.13 597.17 Td (PNC ) Tj ET Q q 0 0 1 rg BT 243.08 597.17 Td (Bank, ) Tj ET Q q 0 0 1 rg BT 269.19 597.17 Td (National ) Tj ET Q q 0 0 1 rg BT 305.57 597.17 Td (Association, ) Tj ET Q q 0 0 1 rg BT 357.79 597.17 Td (as ) Tj ET Q q 0 0 1 rg BT 368.62 597.17 Td (administrative ) Tj ET Q q 0 0 1 rg BT 428.32 597.17 Td (agent. ) Tj ET Q q 0 0 1 rg BT 454.98 597.17 Td (\(Filed ) Tj ET Q q 0 0 1 rg BT 481.37 597.17 Td (herewith\).) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.25 578.17 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 575.9333984375 m 560.505859375 575.9333984375 l s q 0 0 1 rg BT 117.00 577.27 Td (New ) Tj ET Q q 0 0 1 rg BT 139.03 577.27 Td (Lender ) Tj ET Q q 0 0 1 rg BT 170.50 577.27 Td (Supplement, ) Tj ET Q q 0 0 1 rg BT 223.92 577.27 Td (dated ) Tj ET Q q 0 0 1 rg BT 248.72 577.27 Td (June ) Tj ET Q q 0 0 1 rg BT 270.20 577.27 Td (29, ) Tj ET Q q 0 0 1 rg BT 285.85 577.27 Td (2018, ) Tj ET Q q 0 0 1 rg BT 311.50 577.27 Td (by ) Tj ET Q q 0 0 1 rg BT 324.65 577.27 Td (and ) Tj ET Q q 0 0 1 rg BT 342.24 577.27 Td (among ) Tj ET Q q 0 0 1 rg BT 372.61 577.27 Td (M/I ) Tj ET Q q 0 0 1 rg BT 390.75 577.27 Td (Homes, ) Tj ET Q q 0 0 1 rg BT 424.73 577.27 Td (Inc., ) Tj ET Q q 0 0 1 rg BT 445.65 577.27 Td (as ) Tj ET Q q 0 0 1 rg BT 457.13 577.27 Td (borrower) Tj ET Q q 0 0 1 rg BT 493.38 577.27 Td (, ) Tj ET Q q 0 0 1 rg BT 499.03 577.27 Td (Flagstar ) Tj ET Q q 0 0 1 rg BT 534.40 577.27 Td (Bank, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 565.9333984375 m 457.7861328125 565.9333984375 l s q 0 0 1 rg BT 117.00 567.27 Td (FSB, ) Tj ET Q q 0 0 1 rg BT 139.79 567.27 Td (and ) Tj ET Q q 0 0 1 rg BT 156.73 567.27 Td (PNC ) Tj ET Q q 0 0 1 rg BT 178.68 567.27 Td (Bank, ) Tj ET Q q 0 0 1 rg BT 204.79 567.27 Td (National ) Tj ET Q q 0 0 1 rg BT 241.17 567.27 Td (Association, ) Tj ET Q q 0 0 1 rg BT 293.39 567.27 Td (as ) Tj ET Q q 0 0 1 rg BT 304.22 567.27 Td (administrative ) Tj ET Q q 0 0 1 rg BT 363.93 567.27 Td (agent. ) Tj ET Q q 0 0 1 rg BT 390.58 567.27 Td (\(Filed ) Tj ET Q q 0 0 1 rg BT 416.97 567.27 Td (herewith\).) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.25 549.17 Td (10.4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 547.8333984375 m 560.49853515625 547.8333984375 l s q 0 0 1 rg BT 117.00 549.17 Td (M/I ) Tj ET Q q 0 0 1 rg BT 135.92 549.17 Td (Homes, ) Tj ET Q q 0 0 1 rg BT 170.67 549.17 Td (Inc. ) Tj ET Q q 0 0 1 rg BT 189.85 549.17 Td (2018 ) Tj ET Q q 0 0 1 rg BT 213.77 549.17 Td (Long-T) Tj ET Q q 0 0 1 rg BT 243.62 549.17 Td (erm ) Tj ET Q q 0 0 1 rg BT 263.09 549.17 Td (Incentive ) Tj ET Q q 0 0 1 rg BT 304.21 549.17 Td (Plan ) Tj ET Q q 0 0 1 rg BT 325.90 549.17 Td (\(incorporated ) Tj ET Q q 0 0 1 rg BT 383.68 549.17 Td (herein ) Tj ET Q q 0 0 1 rg BT 412.59 549.17 Td (by ) Tj ET Q q 0 0 1 rg BT 426.51 549.17 Td (reference ) Tj ET Q q 0 0 1 rg BT 467.61 549.17 Td (to ) Tj ET Q q 0 0 1 rg BT 479.30 549.17 Td (Exhibit ) Tj ET Q q 0 0 1 rg BT 512.67 549.17 Td (10.1 ) Tj ET Q q 0 0 1 rg BT 534.08 549.17 Td (to ) Tj ET Q q 0 0 1 rg BT 545.78 549.17 Td (the ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 537.8333984375 m 460.2958984375 537.8333984375 l s q 0 0 1 rg BT 117.00 539.17 Td (Company) Tj ET Q q 0 0 1 rg BT 158.67 539.17 Td (s ) Tj ET Q q 0 0 1 rg BT 165.06 539.17 Td (Current ) Tj ET Q q 0 0 1 rg BT 198.10 539.17 Td (Report ) Tj ET Q q 0 0 1 rg BT 227.82 539.17 Td (on ) Tj ET Q q 0 0 1 rg BT 240.32 539.17 Td (Form ) Tj ET Q q 0 0 1 rg BT 264.49 539.17 Td (8-K ) Tj ET Q q 0 0 1 rg BT 282.54 539.17 Td (filed ) Tj ET Q q 0 0 1 rg BT 303.37 539.17 Td (on ) Tj ET Q q 0 0 1 rg BT 315.87 539.17 Td (May ) Tj ET Q q 0 0 1 rg BT 336.70 539.17 Td (8, ) Tj ET Q q 0 0 1 rg BT 346.70 539.17 Td (2018\) ) Tj ET Q q 0 0 1 rg BT 372.53 539.17 Td (\(File ) Tj ET Q q 0 0 1 rg BT 393.91 539.17 Td (No. ) Tj ET Q q 0 0 1 rg BT 411.14 539.17 Td (001-12434\).) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.25 520.17 Td (10.5) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 518.8333984375 m 557.99658203125 518.8333984375 l s q 0 0 1 rg BT 117.00 520.17 Td (Form ) Tj ET Q q 0 0 1 rg BT 141.44 520.17 Td (of ) Tj ET Q q 0 0 1 rg BT 152.54 520.17 Td (Nonqualified ) Tj ET Q q 0 0 1 rg BT 208.08 520.17 Td (Stock ) Tj ET Q q 0 0 1 rg BT 233.63 520.17 Td (Option ) Tj ET Q q 0 0 1 rg BT 263.56 520.17 Td (A) Tj ET Q q 0 0 1 rg BT 269.87 520.17 Td (ward ) Tj ET Q q 0 0 1 rg BT 292.02 520.17 Td (Agreement ) Tj ET Q q 0 0 1 rg BT 339.21 520.17 Td (for ) Tj ET Q q 0 0 1 rg BT 353.64 520.17 Td (Employees ) Tj ET Q q 0 0 1 rg BT 400.85 520.17 Td (under ) Tj ET Q q 0 0 1 rg BT 426.39 520.17 Td (the ) Tj ET Q q 0 0 1 rg BT 441.38 520.17 Td (M/I ) Tj ET Q q 0 0 1 rg BT 459.15 520.17 Td (Homes, ) Tj ET Q q 0 0 1 rg BT 492.75 520.17 Td (Inc. ) Tj ET Q q 0 0 1 rg BT 510.79 520.17 Td (2018 ) Tj ET Q q 0 0 1 rg BT 533.56 520.17 Td (Long-) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 508.8333984375 m 267.6396484375 508.8333984375 l s q 0 0 1 rg BT 117.00 510.17 Td (T) Tj ET Q q 0 0 1 rg BT 122.41 510.17 Td (erm ) Tj ET Q q 0 0 1 rg BT 140.46 510.17 Td (Incentive ) Tj ET Q q 0 0 1 rg BT 180.16 510.17 Td (Plan ) Tj ET Q q 0 0 1 rg BT 200.44 510.17 Td (\(Filed ) Tj ET Q q 0 0 1 rg BT 226.82 510.17 Td (herewith\).) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.25 491.17 Td (10.6) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 489.8333984375 m 560.517578125 489.8333984375 l s q 0 0 1 rg BT 117.00 491.17 Td (Form ) Tj ET Q q 0 0 1 rg BT 140.63 491.17 Td (of ) Tj ET Q q 0 0 1 rg BT 150.92 491.17 Td (Stock ) Tj ET Q q 0 0 1 rg BT 175.66 491.17 Td (Units ) Tj ET Q q 0 0 1 rg BT 198.86 491.17 Td (A) Tj ET Q q 0 0 1 rg BT 205.17 491.17 Td (ward ) Tj ET Q q 0 0 1 rg BT 226.69 491.17 Td (Agreement ) Tj ET Q q 0 0 1 rg BT 273.07 491.17 Td (for ) Tj ET Q q 0 0 1 rg BT 286.69 491.17 Td (Directors ) Tj ET Q q 0 0 1 rg BT 325.86 491.17 Td (under ) Tj ET Q q 0 0 1 rg BT 350.59 491.17 Td (the ) Tj ET Q q 0 0 1 rg BT 364.77 491.17 Td (M/I ) Tj ET Q q 0 0 1 rg BT 381.73 491.17 Td (Homes, ) Tj ET Q q 0 0 1 rg BT 414.53 491.17 Td (Inc. ) Tj ET Q q 0 0 1 rg BT 431.76 491.17 Td (2018 ) Tj ET Q q 0 0 1 rg BT 453.72 491.17 Td (Long-T) Tj ET Q q 0 0 1 rg BT 483.57 491.17 Td (erm ) Tj ET Q q 0 0 1 rg BT 501.08 491.17 Td (Incentive ) Tj ET Q q 0 0 1 rg BT 540.24 491.17 Td (Plan ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 479.8333984375 m 184.2021484375 479.8333984375 l s q 0 0 1 rg BT 117.00 481.17 Td (\(Filed ) Tj ET Q q 0 0 1 rg BT 143.39 481.17 Td (herewith\).) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.25 462.17 Td (31.1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 460.8333984375 m 560.505859375 460.8333984375 l s q 0 0 1 rg BT 117.00 462.17 Td (Certification ) Tj ET Q q 0 0 1 rg BT 170.33 462.17 Td (by ) Tj ET Q q 0 0 1 rg BT 183.13 462.17 Td (Robert ) Tj ET Q q 0 0 1 rg BT 213.15 462.17 Td (H. ) Tj ET Q q 0 0 1 rg BT 225.67 462.17 Td (Schottenstein, ) Tj ET Q q 0 0 1 rg BT 284.85 462.17 Td (Chief ) Tj ET Q q 0 0 1 rg BT 309.86 462.17 Td (Executive ) Tj ET Q q 0 0 1 rg BT 352.64 462.17 Td (Of) Tj ET Q q 0 0 1 rg BT 363.01 462.17 Td (ficer) Tj ET Q q 0 0 1 rg BT 380.93 462.17 Td (, ) Tj ET Q q 0 0 1 rg BT 386.22 462.17 Td (pursuant ) Tj ET Q q 0 0 1 rg BT 423.46 462.17 Td (to ) Tj ET Q q 0 0 1 rg BT 434.04 462.17 Td (Item ) Tj ET Q q 0 0 1 rg BT 455.16 462.17 Td (601 ) Tj ET Q q 0 0 1 rg BT 472.96 462.17 Td (of ) Tj ET Q q 0 0 1 rg BT 484.08 462.17 Td (Regulation ) Tj ET Q q 0 0 1 rg BT 530.76 462.17 Td (S-K ) Tj ET Q q 0 0 1 rg BT 549.68 462.17 Td (as ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 450.8333984375 m 463.044921875 450.8333984375 l s q 0 0 1 rg BT 117.00 452.17 Td (Adopted ) Tj ET Q q 0 0 1 rg BT 153.94 452.17 Td (Pursuant ) Tj ET Q q 0 0 1 rg BT 191.44 452.17 Td (to ) Tj ET Q q 0 0 1 rg BT 201.72 452.17 Td (Section ) Tj ET Q q 0 0 1 rg BT 234.21 452.17 Td (302 ) Tj ET Q q 0 0 1 rg BT 251.71 452.17 Td (of ) Tj ET Q q 0 0 1 rg BT 262.54 452.17 Td (the ) Tj ET Q q 0 0 1 rg BT 277.26 452.17 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 343.07 452.17 Td (Act ) Tj ET Q q 0 0 1 rg BT 360.01 452.17 Td (of ) Tj ET Q q 0 0 1 rg BT 370.84 452.17 Td (2002. ) Tj ET Q q 0 0 1 rg BT 395.84 452.17 Td (\(Filed ) Tj ET Q q 0 0 1 rg BT 422.23 452.17 Td (herewith.\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.25 434.17 Td (31.2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 432.8333984375 m 560.49609375 432.8333984375 l s q 0 0 1 rg BT 117.00 434.17 Td (Certification ) Tj ET Q q 0 0 1 rg BT 170.13 434.17 Td (by ) Tj ET Q q 0 0 1 rg BT 182.71 434.17 Td (Phillip ) Tj ET Q q 0 0 1 rg BT 211.98 434.17 Td (G. ) Tj ET Q q 0 0 1 rg BT 224.29 434.17 Td (Creek, ) Tj ET Q q 0 0 1 rg BT 253.25 434.17 Td (Chief ) Tj ET Q q 0 0 1 rg BT 278.05 434.17 Td (Financial ) Tj ET Q q 0 0 1 rg BT 317.85 434.17 Td (Of) Tj ET Q q 0 0 1 rg BT 328.23 434.17 Td (ficer) Tj ET Q q 0 0 1 rg BT 346.14 434.17 Td (, ) Tj ET Q q 0 0 1 rg BT 351.23 434.17 Td (pursuant ) Tj ET Q q 0 0 1 rg BT 388.25 434.17 Td (to ) Tj ET Q q 0 0 1 rg BT 398.62 434.17 Td (Item ) Tj ET Q q 0 0 1 rg BT 419.53 434.17 Td (601 ) Tj ET Q q 0 0 1 rg BT 437.12 434.17 Td (of ) Tj ET Q q 0 0 1 rg BT 448.04 434.17 Td (Regulation ) Tj ET Q q 0 0 1 rg BT 494.51 434.17 Td (S-K ) Tj ET Q q 0 0 1 rg BT 513.21 434.17 Td (as ) Tj ET Q q 0 0 1 rg BT 523.56 434.17 Td (Adopted ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 422.8333984375 m 426.1064453125 422.8333984375 l s q 0 0 1 rg BT 117.00 424.17 Td (Pursuant ) Tj ET Q q 0 0 1 rg BT 154.50 424.17 Td (to ) Tj ET Q q 0 0 1 rg BT 164.78 424.17 Td (Section ) Tj ET Q q 0 0 1 rg BT 197.27 424.17 Td (302 ) Tj ET Q q 0 0 1 rg BT 214.77 424.17 Td (of ) Tj ET Q q 0 0 1 rg BT 225.60 424.17 Td (the ) Tj ET Q q 0 0 1 rg BT 240.32 424.17 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 306.14 424.17 Td (Act ) Tj ET Q q 0 0 1 rg BT 323.07 424.17 Td (of ) Tj ET Q q 0 0 1 rg BT 333.90 424.17 Td (2002. ) Tj ET Q q 0 0 1 rg BT 358.90 424.17 Td (\(Filed ) Tj ET Q q 0 0 1 rg BT 385.29 424.17 Td (herewith.\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.25 406.17 Td (32.1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 404.8333984375 m 560.5009765625 404.8333984375 l s q 0 0 1 rg BT 117.00 406.17 Td (Certification ) Tj ET Q q 0 0 1 rg BT 169.04 406.17 Td (by ) Tj ET Q q 0 0 1 rg BT 180.54 406.17 Td (Robert ) Tj ET Q q 0 0 1 rg BT 209.27 406.17 Td (H. ) Tj ET Q q 0 0 1 rg BT 220.49 406.17 Td (Schottenstein, ) Tj ET Q q 0 0 1 rg BT 278.38 406.17 Td (Chief ) Tj ET Q q 0 0 1 rg BT 302.10 406.17 Td (Executive ) Tj ET Q q 0 0 1 rg BT 343.58 406.17 Td (Of) Tj ET Q q 0 0 1 rg BT 353.95 406.17 Td (ficer) Tj ET Q q 0 0 1 rg BT 371.87 406.17 Td (, ) Tj ET Q q 0 0 1 rg BT 375.87 406.17 Td (pursuant ) Tj ET Q q 0 0 1 rg BT 411.81 406.17 Td (to ) Tj ET Q q 0 0 1 rg BT 421.10 406.17 Td (18 ) Tj ET Q q 0 0 1 rg BT 432.60 406.17 Td (U.S.C. ) Tj ET Q q 0 0 1 rg BT 461.06 406.17 Td (Section ) Tj ET Q q 0 0 1 rg BT 492.56 406.17 Td (1350 ) Tj ET Q q 0 0 1 rg BT 514.06 406.17 Td (as ) Tj ET Q q 0 0 1 rg BT 523.56 406.17 Td (Adopted ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 394.8333984375 m 426.1064453125 394.8333984375 l s q 0 0 1 rg BT 117.00 396.17 Td (Pursuant ) Tj ET Q q 0 0 1 rg BT 154.50 396.17 Td (to ) Tj ET Q q 0 0 1 rg BT 164.78 396.17 Td (Section ) Tj ET Q q 0 0 1 rg BT 197.27 396.17 Td (906 ) Tj ET Q q 0 0 1 rg BT 214.77 396.17 Td (of ) Tj ET Q q 0 0 1 rg BT 225.60 396.17 Td (the ) Tj ET Q q 0 0 1 rg BT 240.32 396.17 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 306.14 396.17 Td (Act ) Tj ET Q q 0 0 1 rg BT 323.07 396.17 Td (of ) Tj ET Q q 0 0 1 rg BT 333.90 396.17 Td (2002. ) Tj ET Q q 0 0 1 rg BT 358.90 396.17 Td (\(Filed ) Tj ET Q q 0 0 1 rg BT 385.29 396.17 Td (herewith.\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.25 378.17 Td (32.2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 376.8333984375 m 560.51513671875 376.8333984375 l s q 0 0 1 rg BT 117.00 378.17 Td (Certification ) Tj ET Q q 0 0 1 rg BT 168.84 378.17 Td (by ) Tj ET Q q 0 0 1 rg BT 180.14 378.17 Td (Phillip ) Tj ET Q q 0 0 1 rg BT 208.12 378.17 Td (G. ) Tj ET Q q 0 0 1 rg BT 219.14 378.17 Td (Creek, ) Tj ET Q q 0 0 1 rg BT 246.82 378.17 Td (Chief ) Tj ET Q q 0 0 1 rg BT 270.34 378.17 Td (Financial ) Tj ET Q q 0 0 1 rg BT 308.86 378.17 Td (Of) Tj ET Q q 0 0 1 rg BT 319.23 378.17 Td (ficer) Tj ET Q q 0 0 1 rg BT 337.14 378.17 Td (, ) Tj ET Q q 0 0 1 rg BT 340.95 378.17 Td (pursuant ) Tj ET Q q 0 0 1 rg BT 376.69 378.17 Td (to ) Tj ET Q q 0 0 1 rg BT 385.77 378.17 Td (18 ) Tj ET Q q 0 0 1 rg BT 397.07 378.17 Td (U.S.C. ) Tj ET Q q 0 0 1 rg BT 425.33 378.17 Td (Section ) Tj ET Q q 0 0 1 rg BT 456.63 378.17 Td (1350 ) Tj ET Q q 0 0 1 rg BT 477.93 378.17 Td (as ) Tj ET Q q 0 0 1 rg BT 487.27 378.17 Td (Adopted ) Tj ET Q q 0 0 1 rg BT 523.02 378.17 Td (Pursuant ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 117 366.8333984375 m 388.6064453125 366.8333984375 l s q 0 0 1 rg BT 117.00 368.17 Td (to ) Tj ET Q q 0 0 1 rg BT 127.28 368.17 Td (Section ) Tj ET Q q 0 0 1 rg BT 159.77 368.17 Td (906 ) Tj ET Q q 0 0 1 rg BT 177.27 368.17 Td (of ) Tj ET Q q 0 0 1 rg BT 188.10 368.17 Td (the ) Tj ET Q q 0 0 1 rg BT 202.82 368.17 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 268.64 368.17 Td (Act ) Tj ET Q q 0 0 1 rg BT 285.57 368.17 Td (of ) Tj ET Q q 0 0 1 rg BT 296.40 368.17 Td (2002. ) Tj ET Q q 0 0 1 rg BT 321.40 368.17 Td (\(Filed ) Tj ET Q q 0 0 1 rg BT 347.79 368.17 Td (herewith.\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.15 350.17 Td (101.INS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 350.17 Td (XBRL) Tj ET Q q 0 0 0 rg BT 143.48 350.17 Td ( Instance Document. \(Furnished herewith.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 332.17 Td (101.SCH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 332.17 Td (XBRL) Tj ET Q q 0 0 0 rg BT 143.48 332.17 Td ( ) Tj ET Q q 0 0 0 rg BT 145.71 332.17 Td (T) Tj ET Q q 0 0 0 rg BT 151.38 332.17 Td (axonomy Extension Schema Document. \(Furnished herewith.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.40 314.17 Td (101.CAL) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 314.17 Td (XBRL) Tj ET Q q 0 0 0 rg BT 143.48 314.17 Td ( ) Tj ET Q q 0 0 0 rg BT 145.71 314.17 Td (T) Tj ET Q q 0 0 0 rg BT 151.38 314.17 Td (axonomy Extension Calculation Linkbase Document. \(Furnished herewith.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.25 296.17 Td (101.LAB) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 296.17 Td (XBRL) Tj ET Q q 0 0 0 rg BT 143.48 296.17 Td ( ) Tj ET Q q 0 0 0 rg BT 145.71 296.17 Td (T) Tj ET Q q 0 0 0 rg BT 151.38 296.17 Td (axonomy Extension Label Linkbase Document. \(Furnished herewith.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.05 278.17 Td (101.PRE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 278.17 Td (XBRL) Tj ET Q q 0 0 0 rg BT 143.48 278.17 Td ( ) Tj ET Q q 0 0 0 rg BT 145.71 278.17 Td (T) Tj ET Q q 0 0 0 rg BT 151.38 278.17 Td (axonomy Extension Presentation Linkbase Document. \(Furnished herewith.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.80 260.17 Td (101.DEF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 260.17 Td (XBRL) Tj ET Q q 0 0 0 rg BT 143.30 260.17 Td ( ) Tj ET Q q 0 0 0 rg BT 145.62 260.17 Td (T) Tj ET Q q 0 0 0 rg BT 151.03 260.17 Td (axonomy Extension Definition Linkbase Document. \(Furnished herewith.\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 117 0 obj <> endobj 118 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 740.25 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 80.43 740.25 Td (TURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.25 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 86.88 716.25 Td (to ) Tj ET Q q 0 0 0 rg BT 97.03 716.25 Td (the ) Tj ET Q q 0 0 0 rg BT 111.62 716.25 Td (requirements ) Tj ET Q q 0 0 0 rg BT 166.20 716.25 Td (of ) Tj ET Q q 0 0 0 rg BT 176.90 716.25 Td (the ) Tj ET Q q 0 0 0 rg BT 191.50 716.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 233.31 716.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 274.58 716.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 291.40 716.25 Td (of ) Tj ET Q q 0 0 0 rg BT 302.10 716.25 Td (1934, ) Tj ET Q q 0 0 0 rg BT 326.98 716.25 Td (the ) Tj ET Q q 0 0 0 rg BT 341.57 716.25 Td (registrant ) Tj ET Q q 0 0 0 rg BT 381.71 716.25 Td (has ) Tj ET Q q 0 0 0 rg BT 397.41 716.25 Td (duly ) Tj ET Q q 0 0 0 rg BT 417.57 716.25 Td (caused ) Tj ET Q q 0 0 0 rg BT 447.15 716.25 Td (this ) Tj ET Q q 0 0 0 rg BT 463.97 716.25 Td (report ) Tj ET Q q 0 0 0 rg BT 490.23 716.25 Td (to ) Tj ET Q q 0 0 0 rg BT 500.38 716.25 Td (be ) Tj ET Q q 0 0 0 rg BT 512.19 716.25 Td (signed ) Tj ET Q q 0 0 0 rg BT 540.68 716.25 Td (on ) Tj ET Q q 0 0 0 rg BT 553.05 716.25 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (behalf ) Tj ET Q q 0 0 0 rg BT 76.99 704.25 Td (by ) Tj ET Q q 0 0 0 rg BT 89.49 704.25 Td (the ) Tj ET Q q 0 0 0 rg BT 104.20 704.25 Td (undersigned ) Tj ET Q q 0 0 0 rg BT 155.58 704.25 Td (thereunto ) Tj ET Q q 0 0 0 rg BT 195.84 704.25 Td (duly ) Tj ET Q q 0 0 0 rg BT 216.12 704.25 Td (authorized.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282 630.75 m 562 630.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282 630.75 m 562 630.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282 557.75 m 562 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282 557.75 m 562 557.75 l s BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 375.95 670.9833984375 m 442.0486328125 670.9833984375 l s q 0 0 0 rg BT 375.95 672.32 Td (M/I Homes, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.10 658.32 Td (\(Registrant\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 635.32 Td (Date:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.50 635.32 Td (July ) Tj ET Q q 0 0 0 rg BT 121.67 635.32 Td (27, ) Tj ET Q q 0 0 0 rg BT 136.67 635.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.50 635.32 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 635.32 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 296.45 635.32 Td (Robert ) Tj ET Q q 0 0 0 rg BT 326.17 635.32 Td (H. ) Tj ET Q q 0 0 0 rg BT 338.39 635.32 Td (Schottenstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 621.37 Td (Robert ) Tj ET Q q 0 0 0 rg BT 314.22 621.37 Td (H. ) Tj ET Q q 0 0 0 rg BT 326.44 621.37 Td (Schottenstein) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 610.37 Td (Chairman, ) Tj ET Q q 0 0 0 rg BT 328.93 610.37 Td (Chief ) Tj ET Q q 0 0 0 rg BT 353.65 610.37 Td (Executive ) Tj ET Q q 0 0 0 rg BT 396.13 610.37 Td (Of) Tj ET Q q 0 0 0 rg BT 406.59 610.37 Td (ficer ) Tj ET Q q 0 0 0 rg BT 427.32 610.37 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 598.37 Td (President) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 587.37 Td (\(Principal ) Tj ET Q q 0 0 0 rg BT 326.43 587.37 Td (Executive ) Tj ET Q q 0 0 0 rg BT 368.91 587.37 Td (Of) Tj ET Q q 0 0 0 rg BT 379.38 587.37 Td (ficer\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 562.32 Td (Date:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.50 562.32 Td (July ) Tj ET Q q 0 0 0 rg BT 121.67 562.32 Td (27, ) Tj ET Q q 0 0 0 rg BT 136.67 562.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.50 562.32 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 562.32 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 296.17 562.32 Td (Ann ) Tj ET Q q 0 0 0 rg BT 315.62 562.32 Td (Marie ) Tj ET Q q 0 0 0 rg BT 341.90 562.32 Td (W) Tj ET Q q 0 0 0 rg BT 350.79 562.32 Td (. ) Tj ET Q q 0 0 0 rg BT 355.33 562.32 Td (Hunker) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 548.37 Td (Ann ) Tj ET Q q 0 0 0 rg BT 304.22 548.37 Td (Marie ) Tj ET Q q 0 0 0 rg BT 330.51 548.37 Td (W) Tj ET Q q 0 0 0 rg BT 339.40 548.37 Td (. ) Tj ET Q q 0 0 0 rg BT 343.94 548.37 Td (Hunker) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 537.37 Td (V) Tj ET Q q 0 0 0 rg BT 291.42 537.37 Td (ice ) Tj ET Q q 0 0 0 rg BT 305.28 537.37 Td (President, ) Tj ET Q q 0 0 0 rg BT 347.49 537.37 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 389.98 537.37 Td (Controller) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 526.37 Td (\(Principal ) Tj ET Q q 0 0 0 rg BT 325.88 526.37 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 375.04 526.37 Td (Of) Tj ET Q q 0 0 0 rg BT 385.41 526.37 Td (ficer\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 119 0 obj <> /View <>>>>> endobj 120 0 obj <> /View <>>>>> endobj 121 0 obj <> endobj 122 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;