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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 195.55 465.00 Td (\(Exact name of r) Tj ET Q q 0 0 0 rg BT 266.74 465.00 Td (egistrant as specified in its charter\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.80 445.23 Td (Delawar) Tj ET Q q 0 0 0 rg BT 184.72 445.23 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 106.65 435.23 Td (\(State or) Tj ET Q q 0 0 0 rg BT 143.40 435.23 Td ( other) Tj ET Q q 0 0 0 rg BT 168.49 435.23 Td ( jurisdiction of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.80 425.23 Td (incorporation or) Tj ET Q q 0 0 0 rg BT 174.44 425.23 Td ( organization\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 426.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.80 445.23 Td (23-2416878) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.95 435.23 Td (\(I.R.S. Employer) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.80 425.23 Td (Identification No.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.00 412.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 412.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 412.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 73.80 398.23 Td (250 Gibraltar) Tj ET Q q 0 0 0 rg BT 132.22 398.23 Td ( Road, Horsham, Pennsylvania) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.30 388.23 Td (\(Addr) Tj ET Q q 0 0 0 rg BT 112.23 388.23 Td (ess of principal executive offices\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.00 389.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 398.23 Td (19044) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.80 388.23 Td (\(Zip Code\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.75 368.00 Td (\(215\)938-8000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.10 356.00 Td (\(Registrant) Tj ET Q q 0 0 0 rg BT 244.38 356.00 Td (s telephone number) Tj ET Q q 0 0 0 rg BT 327.35 356.00 Td (, including ar) Tj ET Q q 0 0 0 rg BT 384.13 356.00 Td (ea code\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.00 339.00 Td (Not applicable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.55 327.00 Td (\(Former) Tj ET Q q 0 0 0 rg BT 166.45 327.00 Td ( name, former) Tj ET Q q 0 0 0 rg BT 227.08 327.00 Td ( addr) Tj ET Q q 0 0 0 rg BT 249.96 327.00 Td (ess and former) Tj ET Q q 0 0 0 rg BT 313.10 327.00 Td ( fiscal year) Tj ET Q q 0 0 0 rg BT 358.27 327.00 Td (, if changed since last r) Tj ET Q q 0 0 0 rg BT 455.31 327.00 Td (eport\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 312.00 Td (Indicate by check mark whether the registrant \(1\)has filed all reports required to be filed by Section13 or 15\(d\) of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.00 Td (Securities Exchange ) Tj ET Q q 0 0 0 rg BT 133.31 300.00 Td (Act of 1934 during the preceding 12months \(or for such shorter period that the registrant was required to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.00 Td (file such reports\), and \(2\)has been subject to such filing requirements for the past 90days. ) Tj ET Q q 0 0 0 rg BT 414.80 288.00 Td (Y) Tj ET Q q 0 0 0 rg BT 421.03 288.00 Td (es ) Tj ET Q /GS0 gs q 8.92 0 0 10.09 431.86 285.84 cm /I3 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.77 288.00 Td ( No ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 457.99 285.84 cm /I4 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 273.00 Td (Indicate by check mark whether the registrant has submitted electronically and posted on its corporate ) Tj ET Q q 0 0 0 rg BT 484.51 273.00 Td (W) Tj ET Q q 0 0 0 rg BT 493.15 273.00 Td (eb site, if any) Tj ET Q q 0 0 0 rg BT 546.37 273.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.00 Td (every Interactive Data File required to be submitted and posted pursuant to Rule405 of RegulationS-T) Tj ET Q q 0 0 0 rg BT 463.05 261.00 Td ( \(232.405 of this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.00 Td (chapter\) during the preceding 12months \(or for such shorter period that the registrant was required to submit and post such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.00 Td (files\). ) Tj ET Q q 0 0 0 rg BT 75.18 237.00 Td (Y) Tj ET Q q 0 0 0 rg BT 81.40 237.00 Td (es ) Tj ET Q /GS0 gs q 8.92 0 0 10.09 92.23 234.84 cm /I5 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.14 237.00 Td ( No ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 118.36 234.84 cm /I6 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 222.00 Td (Indicate by check mark whether the registrant is a lar) Tj ET Q q 0 0 0 rg BT 286.23 222.00 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 361.88 222.00 Td (, an accelerated filer) Tj ET Q q 0 0 0 rg BT 442.53 222.00 Td (, a non-accelerated filer or a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.00 Td (smaller reporting company) Tj ET Q q 0 0 0 rg BT 157.09 210.00 Td (. See the definitions of lar) Tj ET Q q 0 0 0 rg BT 264.66 210.00 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 340.31 210.00 Td (, accelerated filer and smaller reporting company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.00 Td (in Rule12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 174.41 198.00 Td (Act.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 177.17 Td (Lar) Tj ET Q q 0 0 0 rg BT 75.70 177.17 Td (ge accelerated filer ) Tj ET Q /GS0 gs q 8.92 0 0 10.09 154.25 175.01 cm /I7 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 177.17 Td (Accelerated filer ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 509.69 175.01 cm /I8 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 157.17 Td (Non-accelerated filer ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 149.16 155.01 cm /I9 Do Q /GS0 gs q 10.00 0 0 10.09 158.07 155.01 cm /I10 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.07 157.17 Td (\(Do not check if a smaller reporting company\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.05 157.17 Td (Smaller reporting company ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 530.96 155.01 cm /I11 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 138.00 Td (Indicate by check mark whether the registrant is a shell company \(as defined in Rule12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 507.46 138.00 Td (Act\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.90 126.00 Td (Y) Tj ET Q q 0 0 0 rg BT 516.12 126.00 Td (es ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 526.95 123.84 cm /I12 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.86 126.00 Td ( No ) Tj ET Q /GS0 gs q 8.92 0 0 10.09 553.08 123.84 cm /I13 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 114.00 Td (Indicate the number of shares outstanding of each of the issuer) Tj ET Q q 0 0 0 rg BT 324.84 114.00 Td () Tj ET Q q 0 0 0 rg BT 327.62 114.00 Td (s classes of common stock, as of the latest practicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.00 Td (date:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.00 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 90.00 Td (March3, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.10 90.00 Td (, there were approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.77 90.00 Td (162,603,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.77 90.00 Td ( shares of Common Stock, $0.01 par value, outstanding.) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 50 74 m 562 74 l s BT /F1 10.00 Tf ET endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.00 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 259.49 742.25 Td (OLL) Tj ET Q q 0 0 0 rg BT 280.06 742.25 Td ( BROTHERS, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.15 715.25 Td (T) Tj ET Q q 0 0 0 rg BT 261.08 715.25 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 304.32 715.25 Td ( CONTENTS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 689.75 m 567.5 689.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 694.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.10 694.43 Td (Page No.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 679.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 679.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 664.42 Td (Statement on Forward-Looking Information) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 649.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 649.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.45 634.43 Td (P) Tj ET Q q 0 0 0 rg BT 222.82 634.43 Td (AR) Tj ET Q q 0 0 0 rg BT 236.91 634.43 Td (T) Tj ET Q q 0 0 0 rg BT 243.40 634.43 Td ( I. Financial Information) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 634.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 619.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 619.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 604.42 Td (Item1. Financial Statements) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 604.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 589.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 589.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 574.42 Td (Condensed Consolidated Balance Sheets \(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 559.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 559.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 544.42 Td (Condensed Consolidated Statements of Operations and Comprehensive Income \(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 514.42 Td (Condensed Consolidated Statements of Cash Flows \(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 499.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 499.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 484.42 Td (Notes to Condensed Consolidated Financial Statements \(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 469.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 469.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 454.42 Td (Item2. Management) Tj ET Q q 0 0 0 rg BT 150.81 454.42 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 219.98 454.42 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 439.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 439.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 424.42 Td (Item3. Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 0 rg BT 260.23 424.42 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 409.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 409.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 394.42 Td (Item4. Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 379.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 379.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.80 364.43 Td (P) Tj ET Q q 0 0 0 rg BT 228.17 364.43 Td (AR) Tj ET Q q 0 0 0 rg BT 242.26 364.43 Td (T) Tj ET Q q 0 0 0 rg BT 248.75 364.43 Td ( II. Other) Tj ET Q q 0 0 0 rg BT 289.40 364.43 Td ( Information) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 364.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 349.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 349.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 334.42 Td (Item1. Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 319.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 319.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 304.42 Td (Item1A. Risk Factors) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 289.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 289.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 274.42 Td (Item2. Unregistered Sales of Equity Securities and Use of Proceeds) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 259.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 259.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 244.42 Td (Item6. Exhibits) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 229.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 229.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 214.42 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 82.45 214.42 Td (TURES) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 664.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 574.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 544.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 514.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 484.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 454.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 424.42 Td (41) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 394.42 Td (42) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 334.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 304.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 274.42 Td (43) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 244.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 214.42 Td (45) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.55 698.25 Td (ST) Tj ET Q q 0 0 0 rg BT 187.04 698.25 Td (A) Tj ET Q q 0 0 0 rg BT 193.52 698.25 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 236.68 698.25 Td ( ON FOR) Tj ET Q q 0 0 0 rg BT 277.43 698.25 Td (W) Tj ET Q q 0 0 0 rg BT 286.33 698.25 Td (ARD-LOOKING INFORMA) Tj ET Q q 0 0 0 rg BT 410.86 698.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (Certain information included in this report or in other materials we have filed or will file with the Securities and Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (Commission \(SEC\) \(as well as information included in oral statements or other written statements made or to be made by us\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (contains or may contain forward-looking statements within the meaning of Section27A) Tj ET Q q 0 0 0 rg BT 400.76 652.25 Td ( of the Securities ) Tj ET Q q 0 0 0 rg BT 470.19 652.25 Td (Act of 1933, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (amended, and Section21E of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 267.99 640.25 Td (Act of 1934, as amended. One can identify these statements by the fact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (that they do not relate to matters of a strictly historical or factual nature and generally discuss or relate to future events. ) Tj ET Q q 0 0 0 rg BT 528.26 628.25 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (statements contain words such as anticipate, estimate, expect, project, intend, plan, believe, may) Tj ET Q q 0 0 0 rg BT 500.52 616.25 Td (, can, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (could, might, should, and other words or phrases of similar meaning. Such statements may include, but are not limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (to, information related to: anticipated operating results; home deliveries; financial resources and condition; changes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (revenues; changes in profitability; changes in mar) Tj ET Q q 0 0 0 rg BT 249.20 580.25 Td (gins; changes in accounting treatment; cost of revenues; selling, general, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (administrative expenses; interest expense; inventory write-downs; unrecognized tax benefits; anticipated tax refunds; sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (paces and prices; ef) Tj ET Q q 0 0 0 rg BT 128.39 556.25 Td (fects of home buyer cancellations; growth and expansion; joint ventures in which we are involved; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (anticipated results from our investments in unconsolidated entities; the ability to acquire land and pursue real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (opportunities; the ability to gain approvals and open new communities; the ability to sell homes and properties; the ability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (deliver homes from backlog; the ability to secure materials and subcontractors; the ability to produce the liquidity and capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (necessary to expand and take advantage of opportunities; and legal proceedings and claims. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.25 Td (From time to time, forward-looking statements also are included in other reports on Forms 10-K, 10-Q, and 8-K; in press ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.25 Td (releases; in presentations; on our website; and in other materials released to the public. ) Tj ET Q q 0 0 0 rg BT 398.51 474.25 Td (Any or all of the forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.25 Td (statements included in this report and in any other reports or public statements made by us are not guarantees of future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.25 Td (performance and may turn out to be inaccurate. ) Tj ET Q q 0 0 0 rg BT 241.68 450.25 Td (This can occur as a result of incorrect assumptions or as a consequence of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.25 Td (known or unknown risks and uncertainties. Many factors mentioned in this report or in other reports or public statements made ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.25 Td (by us, such as market conditions, government regulation, and the competitive environment, will be important in determining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.25 Td (our future performance. Consequently) Tj ET Q q 0 0 0 rg BT 202.08 414.25 Td (, actual results may dif) Tj ET Q q 0 0 0 rg BT 292.70 414.25 Td (fer materially from those that might be anticipated from our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.25 Td (forward-looking statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (Forward-looking statements speak only as of the date they are made. ) Tj ET Q q 0 0 0 rg BT 326.96 382.25 Td (W) Tj ET Q q 0 0 0 rg BT 335.60 382.25 Td (e undertake no obligation to publicly update any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (forward-looking statements, whether as a result of new information, future events, or otherwise.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.25 Td (For a more detailed discussion of these factors, see the information under the captions Risk Factors and Management) Tj ET Q q 0 0 0 rg BT 534.30 350.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.25 Td (Discussion and ) Tj ET Q q 0 0 0 rg BT 112.78 338.25 Td (Analysis of Financial Condition and Results of Operations in our most recent ) Tj ET Q q 0 0 0 rg BT 428.29 338.25 Td (Annual Report on Form 10-K ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.25 Td (filed with the SEC and in this report.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.25 Td (When this report uses the words we, us, our) Tj ET Q q 0 0 0 rg BT 246.76 306.25 Td (, and the Company) Tj ET Q q 0 0 0 rg BT 330.53 306.25 Td (, they refer to ) Tj ET Q q 0 0 0 rg BT 391.15 306.25 Td (T) Tj ET Q q 0 0 0 rg BT 396.56 306.25 Td (oll Brothers, Inc. and its subsidiaries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.25 Td (unless the context otherwise requires. References herein to fiscal year refer to our fiscal years ended or ending October 31.) 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 31.60 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.90 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 225.27 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 239.36 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 245.85 742.25 Td ( I. FINANCIAL) Tj ET Q q 0 0 0 rg BT 315.86 742.25 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 366.50 742.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 708.25 Td (ITEM 1. FINANCIAL) Tj ET Q q 0 0 0 rg BT 147.79 708.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 161.78 708.25 Td (A) Tj ET Q q 0 0 0 rg BT 168.26 708.25 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.50 688.25 Td (T) Tj ET Q q 0 0 0 rg BT 256.99 688.25 Td (OLL) Tj ET Q q 0 0 0 rg BT 277.56 688.25 Td ( BROTHERS, INC.) 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(373,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 589.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 589.32 Td (633,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 575.32 Td (Restricted cash and investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 575.32 Td (12,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 575.32 Td (31,291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 561.32 Td (Inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 561.32 Td (7,539,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 561.32 Td (7,353,967) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 547.32 Td (Property, construction, and office equipment, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 547.32 Td (172,459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 547.32 Td (169,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 533.32 Td (Receivables, prepaid expenses, and other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 533.32 Td (512,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 533.32 Td (582,758) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 519.32 Td (Mortgage loans held for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 519.32 Td (85,765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 519.32 Td (248,601) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 505.32 Td (Customer deposits held in escrow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 505.32 Td (58,012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 505.32 Td (53,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 491.32 Td (Investments in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 491.32 Td (601,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 491.32 Td (496,411) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 477.32 Td (Deferred tax assets, net of valuation allowances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 477.32 Td (160,006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 477.32 Td (167,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 463.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 463.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 463.32 Td (9,516,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 463.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 463.32 Td (9,736,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 449.32 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 435.32 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 422.32 Td (Loans payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 422.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 422.32 Td (879,894) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 422.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 422.32 Td (871,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 408.32 Td (Senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 408.32 Td (2,695,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 408.32 Td (2,694,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 394.32 Td (Mortgage company loan facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 394.32 Td (57,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 394.32 Td (210,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 380.32 Td (Customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 380.32 Td (344,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 380.32 Td (309,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 366.32 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 366.32 Td (258,694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 366.32 Td (281,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 352.32 Td (Accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 352.32 Td (940,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 352.32 Td (1,072,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 338.32 Td (Income taxes payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 338.32 Td (20,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 338.32 Td (62,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 324.32 Td (Total liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 324.32 Td (5,195,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 324.32 Td (5,501,587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 310.32 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 296.32 Td (Stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 282.32 Td (Preferred stock, none issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 282.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 282.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 268.32 Td (Common stock 177,937 shares issued at January 31, 2017 and October 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 268.32 Td (1,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 268.32 Td (1,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 254.32 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 254.32 Td (718,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 254.32 Td (728,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 240.32 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 240.32 Td (4,047,713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 240.32 Td (3,977,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 226.32 Td (Treasury stock, at cost 15,431 and 16,154 shares at January 31, 2017 and October) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 216.32 Td (31, 2016, respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 217.47 Td (\(450,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 217.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 217.47 Td (\(474,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 217.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 203.32 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 203.37 Td (\(3,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 203.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 203.37 Td (\(3,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 203.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 189.32 Td (Total stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 189.32 Td (4,315,114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 189.32 Td (4,229,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 175.32 Td (Noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 175.32 Td (5,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 175.32 Td (5,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 161.32 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 161.32 Td (4,321,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 161.32 Td (4,235,202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 146.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 146.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 146.42 Td (9,516,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 146.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 146.42 Td (9,736,789) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.30 120.25 Td (See accompanying notes.) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.50 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 256.99 742.25 Td (OLL) Tj ET Q q 0 0 0 rg BT 277.56 742.25 Td ( BROTHERS, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.35 730.25 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 201.46 730.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 236.01 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 242.49 730.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 307.41 730.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 344.17 730.25 Td (TIONS ) Tj ET Q q 0 0 0 rg BT 377.24 730.25 Td (AND COMPREHENSIVE INCOME) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 206.85 718.25 Td (\(Amounts in thousands, except per) Tj ET Q q 0 0 0 rg BT 354.74 718.25 Td ( shar) Tj ET Q q 0 0 0 rg BT 375.95 718.25 Td (e data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.15 706.25 Td (\(Unaudited\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 665.75 370.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 665.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 665.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 665.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 635.75 370.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 635.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 635.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 635.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 605.75 370.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 605.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 605.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 605.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 575.75 370.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 575.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 575.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 575.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 545.75 370.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 545.75 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500.75 m 489.5 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 500.75 m 562.5 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 486.75 m 489.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 484.75 m 489.5 484.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 486.75 m 562.5 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 484.75 m 562.5 484.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 425.75 m 489.5 425.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 410.75 m 489.5 410.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 425.75 m 562.5 425.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 410.75 m 562.5 410.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 396.75 m 489.5 396.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 394.75 m 489.5 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 396.75 m 562.5 396.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 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10.00 Tf ET q 0 0 0 rg BT 444.50 670.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.50 670.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 655.42 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 655.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 655.42 Td (920,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 655.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 655.42 Td (928,566) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 625.42 Td (Cost of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 625.42 Td (733,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 625.42 Td (712,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 610.42 Td (Selling, general and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 610.42 Td (137,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 610.42 Td (121,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 595.42 Td (870,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 595.42 Td (834,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 580.42 Td (Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 580.42 Td (50,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 580.42 Td (94,459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 565.42 Td (Other:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 550.42 Td (Income from unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 550.42 Td (46,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 550.42 Td (8,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 535.42 Td (Other income net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 535.42 Td (12,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 535.42 Td (13,720) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 520.42 Td (Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 520.42 Td (109,781) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 520.42 Td (116,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 505.42 Td (Income tax provision) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 505.42 Td (39,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 505.42 Td (43,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 490.42 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 490.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 490.42 Td (70,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 490.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 490.42 Td (73,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 460.42 Td (Other comprehensive income \(loss\), net of tax:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 445.42 Td (Change in pension liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 445.42 Td (169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 445.47 Td (\(288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 445.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 430.42 Td (Change in unrealized income on derivative held by equity investee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 430.42 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 415.42 Td (Other comprehensive income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 415.42 Td (169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 415.47 Td (\(261) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 415.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 400.42 Td (Total comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 400.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 400.42 Td (70,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 400.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 400.42 Td (72,919) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 370.42 Td (Income per share:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 355.42 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 355.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 355.42 Td (0.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 355.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 355.42 Td (0.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 340.42 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 340.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 340.42 Td (0.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 340.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 340.42 Td (0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 325.42 Td (Weighted-average number of shares:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 310.42 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 310.42 Td (162,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 310.42 Td (174,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 295.42 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 295.42 Td (170,417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 295.42 Td (182,391) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.30 269.25 Td (See accompanying notes.) 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 20.60 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.50 753.25 Td (T) Tj ET Q q 0 0 0 rg BT 256.99 753.25 Td (OLL) Tj ET Q q 0 0 0 rg BT 277.56 753.25 Td ( BROTHERS, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.00 741.25 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 281.11 741.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 315.66 741.25 Td (A) Tj ET Q q 0 0 0 rg BT 322.14 741.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 387.06 741.25 Td ( CASH FLOWS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.85 729.25 Td (\(Amounts in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.15 717.25 Td (\(Unaudited\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 680.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 680.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 680.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 680.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 654.75 369.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 654.75 70.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 654.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 654.75 70.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 618.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 618.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 618.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 618.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 592.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 592.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 592.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 592.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 566.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 566.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 566.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 566.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 540.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 540.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 540.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 540.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 514.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 514.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 514.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 514.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 488.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 488.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 488.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 488.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 462.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 462.75 70.00 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 384.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 358.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 358.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 358.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 358.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 332.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 332.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 332.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 332.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 306.75 369.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.00 306.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 306.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 306.75 70.00 -13.00 re f /GS0 gs 0.8 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0.9333333333333333 1 rg /GS0 gs 488.00 124.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 124.75 70.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 693.75 m 488 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 693.75 m 492 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 693.75 m 562 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 693.75 m 488 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 680.75 m 488 680.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 693.75 m 562 693.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 680.75 m 562 680.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 384.75 m 488 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 384.75 m 562 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 371.75 m 488 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 371.75 m 562 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 267.75 m 488 267.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 254.75 m 488 254.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 267.75 m 562 267.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 254.75 m 562 254.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 150.75 m 488 150.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 137.75 m 488 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 150.75 m 562 150.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 137.75 m 562 137.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 111.75 m 488 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 111.75 m 562 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 99.75 m 488 99.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 97.75 m 488 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 99.75 m 562 99.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 97.75 m 562 97.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.35 697.32 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 684.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 684.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.50 684.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 671.32 Td (Cash flow provided by \(used in\) operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 658.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 658.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 658.32 Td (70,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 658.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 658.32 Td (73,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 645.32 Td (Adjustments to reconcile net incometo net cash provided by \(used in\) operating) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 635.32 Td (activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 636.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 636.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 622.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 622.32 Td (6,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 622.32 Td (5,533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 609.32 Td (Stock-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 609.32 Td (9,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 609.32 Td (9,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 596.32 Td (Excess tax benefits from stock-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 596.37 Td (\(253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 596.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 596.37 Td (\(297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 596.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 583.32 Td (Income from unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 583.37 Td (\(46,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 583.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 583.37 Td (\(8,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 583.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 570.32 Td (Distributions of earnings from unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 570.32 Td (48,581) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 570.32 Td (3,870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 557.32 Td (Income from foreclosed real estate and distressed loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 557.37 Td (\(630) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 557.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 557.37 Td (\(1,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 557.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 544.32 Td (Deferred tax provision) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 544.32 Td (2,328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 544.32 Td (587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 531.32 Td (Change in deferred tax valuation allowances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 531.32 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 531.32 Td (148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 518.32 Td (Inventory impairments and write-offs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 518.32 Td (4,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 518.32 Td (1,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 505.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 505.32 Td (2,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 505.32 Td (658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 492.32 Td (Changes in operating assets and liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 492.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 479.32 Td (Increase in inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 479.37 Td (\(135,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 479.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 479.37 Td (\(173,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 479.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 466.32 Td (Origination of mortgage loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 466.37 Td (\(232,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 466.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 466.37 Td (\(215,674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 466.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 453.32 Td (Sale of mortgage loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 453.32 Td (393,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 453.32 Td (265,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 440.32 Td (Decrease \(increase\) in restricted cash and investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 440.32 Td (18,846) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 440.37 Td (\(12,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 440.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 427.32 Td (Decrease \(increase\) in receivables, prepaid expenses, and other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 427.32 Td (83,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 427.37 Td (\(9,546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 427.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 414.32 Td (Increasein customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 414.32 Td (30,096) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 414.32 Td (14,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 401.32 Td (\(Decrease\) increase in accounts payable and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 401.37 Td (\(170,123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 401.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 401.32 Td (17,523) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 388.32 Td (\(Decrease\) increase in income taxes payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 388.37 Td (\(42,157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 388.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 388.32 Td (5,996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.50 375.32 Td (Net cash provided by \(used in\) operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 375.32 Td (41,964) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 375.37 Td (\(23,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 375.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 362.32 Td (Cash flow \(used in\) provided by investing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 349.32 Td (Purchase of property and equipment net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 349.37 Td (\(6,314) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 349.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 349.37 Td (\(1,593) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 349.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 336.32 Td (Sale and redemption of marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 336.32 Td (10,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 323.32 Td (Investments in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 323.37 Td (\(99,941) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 323.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 323.37 Td (\(11,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 323.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 310.32 Td (Return of investments in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 310.32 Td (33,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 310.32 Td (14,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 297.32 Td (Investment in foreclosed real estate and distressed loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 297.37 Td (\(274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 297.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 297.37 Td (\(694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 297.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 284.32 Td (Return of investments in foreclosed real estate and distressed loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 284.32 Td (1,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 284.32 Td (5,321) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 271.32 Td (Acquisition of a business) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 271.37 Td (\(85,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 271.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.50 258.32 Td (Net cash \(used in\) provided by investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 258.37 Td (\(156,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 258.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 258.32 Td (16,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 245.32 Td (Cash flow used in financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 232.32 Td (Debt issuance costs for senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 232.37 Td (\(64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 232.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 219.32 Td (Proceeds from loans payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 219.32 Td (360,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 219.32 Td (339,854) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 206.32 Td (Principal payments of loans payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 206.37 Td (\(516,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 206.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 206.37 Td (\(770,539) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 206.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 193.32 Td (Proceeds from stock-based benefit plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 193.32 Td (25,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 193.32 Td (4,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 180.32 Td (Excess tax benefits from stock-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 180.32 Td (253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 180.32 Td (297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 167.32 Td (Purchase of treasury stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 167.37 Td (\(15,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 167.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 167.37 Td (\(150,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 167.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 154.32 Td (Receipts related to noncontrolling interest, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 154.32 Td (294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.50 141.32 Td (Net cash used in financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 141.37 Td (\(145,603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 141.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 141.37 Td (\(575,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 141.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 128.32 Td (Net decrease in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 128.37 Td (\(260,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 128.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 128.37 Td (\(582,749) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 128.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 115.32 Td (Cash and cash equivalents, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 115.32 Td (633,715) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 115.32 Td (918,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 102.32 Td (Cash and cash equivalents, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 102.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 102.32 Td (373,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 102.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 102.32 Td (336,244) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.30 77.25 Td (See accompanying notes.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.50 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 256.99 742.25 Td (OLL) Tj ET Q q 0 0 0 rg BT 277.56 742.25 Td ( BROTHERS, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 142.65 730.25 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 178.87 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 185.36 730.25 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 320.75 730.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 399.93 730.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 413.92 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 420.40 730.25 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.15 718.25 Td (\(Unaudited\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 698.25 Td (1. Significant ) Tj ET Q q 0 0 0 rg BT 108.07 698.25 Td (Accounting Policies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 678.25 Td (Basis of Presentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (The accompanying condensed consolidated financial statements include the accounts of ) Tj ET Q q 0 0 0 rg BT 403.58 658.25 Td (T) Tj ET Q q 0 0 0 rg BT 408.99 658.25 Td (oll Brothers, Inc. \(the Company) Tj ET Q q 0 0 0 rg BT 539.98 658.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (we, us, or our\), a Delaware corporation, and its majority-owned subsidiaries. ) Tj ET Q q 0 0 0 rg BT 385.43 646.25 Td (All significant intercompany accounts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (transactions have been eliminated. Investments in 50% or less owned partnerships and af) Tj ET Q q 0 0 0 rg BT 405.55 634.25 Td (filiates are accounted for using the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (equity method unless it is determined that we have ef) Tj ET Q q 0 0 0 rg BT 262.82 622.25 Td (fective control of the entity) Tj ET Q q 0 0 0 rg BT 371.02 622.25 Td (, in which case we would consolidate the entity) Tj ET Q q 0 0 0 rg BT 559.48 622.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.25 Td (The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 590.25 Td (regulations of the Securities and Exchange Commission \(SEC\) for interim financial information. ) Tj ET Q q 0 0 0 rg BT 447.77 590.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.82 590.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.53 590.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 578.25 Td (balance sheet amounts and disclosures included herein have been derived from our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.77 578.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.48 578.25 Td ( audited financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.25 Td (statements. Since the accompanying condensed consolidated financial statements do not include all the information and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.25 Td (footnotes required by U.S. generally accepted accounting principles \(GAAP\) for complete financial statements, we suggest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.25 Td (that they be read in conjunction with the consolidated financial statements and notes thereto included in our ) Tj ET Q q 0 0 0 rg BT 482.38 542.25 Td (Annual Report on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.25 Td (Form 10-K for the fiscal year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.34 530.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.04 530.25 Td ( \(2016 Form 10-K\). In the opinion of management, the accompanying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.25 Td (unaudited condensed consolidated financial statements include all adjustments, which are of a normal recurring nature, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 506.25 Td (necessary to present fairly our financial position as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.88 506.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.47 506.25 Td (; the results of our operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.77 506.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.75 506.25 Td (-month ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 494.25 Td (periods ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.32 494.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.91 494.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.35 494.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.35 494.25 Td (; and our cash flows for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.27 494.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.25 494.25 Td (-month periods ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.95 494.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.55 494.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.99 494.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.99 494.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.25 Td (The results of operations for such interim periods are not necessarily indicative of the results to be expected for the full year) Tj ET Q q 0 0 0 rg BT 545.11 482.25 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 462.25 Td (Acquisition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (In November 2016, we acquired substantially all of the assets and operations of Coleman Real Estate Holdings, LLC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (\(Coleman\) for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.30 430.25 Td ($85.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.19 430.25 Td ( in cash. ) Tj ET Q q 0 0 0 rg BT 207.56 430.25 Td (The assets acquired were primarily inventory) Tj ET Q q 0 0 0 rg BT 387.68 430.25 Td (, including approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.21 430.25 Td (1,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.71 430.25 Td ( home sites ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (owned or controlled through land purchase agreements. ) Tj ET Q q 0 0 0 rg BT 274.38 418.25 Td (As part of the acquisition, we assumed contracts to deliver ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.70 418.25 Td (128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.70 418.25 Td ( homes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (with an aggregate value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.56 406.25 Td ($38.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.46 406.25 Td (. ) Tj ET Q q 0 0 0 rg BT 217.28 406.25 Td (The average price of the undelivered homes at the date of acquisition was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 394.25 Td ($303,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.76 394.25 Td (. Our selling community count increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.50 394.25 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.50 394.25 Td ( communities at the acquisition date. ) Tj ET Q q 0 0 0 rg BT 484.45 394.25 Td (The acquisition of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (Coleman) Tj ET Q q 0 0 0 rg BT 88.88 382.25 Td (s assets and operations was not material to our results of operations or financial condition.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 362.25 Td (Recent ) Tj ET Q q 0 0 0 rg BT 80.45 362.25 Td (Accounting Pronouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 342.25 Td (April 2015, the Financial ) Tj ET Q q 0 0 0 rg BT 162.76 342.25 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 293.38 342.25 Td (ASB\) issued ) Tj ET Q q 0 0 0 rg BT 350.05 342.25 Td (Accounting Standards Update \(ASU\) No. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.25 Td (2015-05, Intangibles - Goodwill and Other - Internal-Use Software \(Subtopic 350-40\): Customers) Tj ET Q q 0 0 0 rg BT 448.61 330.25 Td ( ) Tj ET Q q 0 0 0 rg BT 450.56 330.25 Td (Accounting for Fees Paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.25 Td (in a Cloud Computing ) Tj ET Q q 0 0 0 rg BT 141.12 318.25 Td (Arrangement \(ASU 2015-05\). ) Tj ET Q q 0 0 0 rg BT 276.63 318.25 Td (ASU 2015-05 provides guidance for a customer to determine whether ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.25 Td (a cloud computing arrangement contains a software license or should be accounted for as a service contract. ) Tj ET Q q 0 0 0 rg BT 484.09 306.25 Td (W) Tj ET Q q 0 0 0 rg BT 492.73 306.25 Td (e adopted ) Tj ET Q q 0 0 0 rg BT 533.27 306.25 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.25 Td (2015-05 on November 1, 2016, and we elected to adopt the standard prospectively) Tj ET Q q 0 0 0 rg BT 379.26 294.25 Td (. ) Tj ET Q q 0 0 0 rg BT 384.08 294.25 Td (The adoption did not have a material ef) Tj ET Q q 0 0 0 rg BT 541.34 294.25 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.25 Td (on our consolidated financial statements or disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (In February 2015, the F) Tj ET Q q 0 0 0 rg BT 143.96 262.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.87 262.25 Td (ASU No. 2015-02, Consolidation \(T) Tj ET Q q 0 0 0 rg BT 342.71 262.25 Td (opic 810\): ) Tj ET Q q 0 0 0 rg BT 385.49 262.25 Td (Amendments to the Consolidation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (Analysis \(ASU 2015-02\), which eliminates the deferral granted to investment companies from applying the variable interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (entities \(VIEs\) guidance and makes tar) Tj ET Q q 0 0 0 rg BT 213.92 238.25 Td (geted amendments to the current consolidation guidance. ) Tj ET Q q 0 0 0 rg BT 444.22 238.25 Td (The new guidance applies to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (all entities involved with limited partnerships or similar entities and will require re-evaluation of these entities under the revised ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (guidance which may change previous consolidation conclusions. ) Tj ET Q q 0 0 0 rg BT 311.42 214.25 Td (W) Tj ET Q q 0 0 0 rg BT 320.06 214.25 Td (e adopted ) Tj ET Q q 0 0 0 rg BT 360.60 214.25 Td (ASU 2015-02 on November 1, 2016, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (adoption did not have a material ef) Tj ET Q q 0 0 0 rg BT 189.21 202.25 Td (fect on our consolidated financial statements or disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.25 Td (In February 2017, the F) Tj ET Q q 0 0 0 rg BT 143.96 182.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.87 182.25 Td (ASU No. 2017-05, Other Income - Gains and Losses from the Derecognition of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.25 Td (Nonfinancial ) Tj ET Q q 0 0 0 rg BT 104.15 170.25 Td (Assets \(Subtopic 610-20\): Clarifying the Scope of ) Tj ET Q q 0 0 0 rg BT 306.63 170.25 Td (Asset Derecognition Guidance and ) Tj ET Q q 0 0 0 rg BT 448.25 170.25 Td (Accounting for Partial Sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.25 Td (of Nonfinancial ) Tj ET Q q 0 0 0 rg BT 114.98 158.25 Td (Assets \(ASU 2017-05\). ) Tj ET Q q 0 0 0 rg BT 223.85 158.25 Td (ASU 2017-05 is meant to clarify the scope of the original guidance within Subtopic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.25 Td (610-20 that was issued in connection with ) Tj ET Q q 0 0 0 rg BT 220.25 146.25 Td (ASU 2014-09, as defined below) Tj ET Q q 0 0 0 rg BT 348.19 146.25 Td (, which provides guidance for recognizing gains and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.25 Td (losses from the transfer of nonfinancial assets in contracts with noncustomers. ) Tj ET Q q 0 0 0 rg BT 364.37 134.25 Td (ASU 2017-05 additionally added guidance for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.25 Td (partial sales of nonfinancial assets. ) Tj ET Q q 0 0 0 rg BT 191.07 122.25 Td (ASU 2017-05 is ef) Tj ET Q q 0 0 0 rg BT 266.16 122.25 Td (fective for our fiscal year beginning November 1, 2018 and we are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.25 Td (required to adopt ) Tj ET Q q 0 0 0 rg BT 120.26 110.25 Td (ASU 2017-05 concurrent with the adoption of ) Tj ET Q q 0 0 0 rg BT 306.62 110.25 Td (ASU 2014-09. ) Tj ET Q q 0 0 0 rg BT 367.27 110.25 Td (W) Tj ET Q q 0 0 0 rg BT 375.91 110.25 Td (e are currently evaluating the impact that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.25 Td (adoption of ) Tj ET Q q 0 0 0 rg BT 97.77 98.25 Td (ASU 2017-05 may have on our consolidated financial statements and disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.25 Td (In January 2017, the F) Tj ET Q q 0 0 0 rg BT 138.96 78.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 187.87 78.25 Td (ASU No. 2017-01, Business Combinations \(T) Tj ET Q q 0 0 0 rg BT 375.78 78.25 Td (opic 805\): Clarifying the Definition of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.25 Td (Business \(ASU 2017-01\), which provides a more robust framework for determining whether transactions should be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 54.25 Td (accounted for as acquisitions of assets \(or disposals\) or businesses. ) Tj ET Q q 0 0 0 rg BT 319.12 54.25 Td (ASU 2017-01 is ef) Tj ET Q q 0 0 0 rg BT 394.21 54.25 Td (fective for our fiscal year beginning ) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (November 1, 2018. ) Tj ET Q q 0 0 0 rg BT 129.53 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 138.16 742.10 Td (e are currently evaluating the impact that the adoption of ) Tj ET Q q 0 0 0 rg BT 366.97 742.10 Td (ASU 2017-01 may have on our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (financial statements and disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.10 Td (In March 2016, the F) Tj ET Q q 0 0 0 rg BT 133.96 710.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 182.87 710.10 Td (ASU No. 2016-09, Compensation - Stock Compensation \(T) Tj ET Q q 0 0 0 rg BT 425.76 710.10 Td (opic 718\): Improvements to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.10 Td (Employee Share-Based Payment ) Tj ET Q q 0 0 0 rg BT 183.02 698.10 Td (Accounting \(ASU 2016-09\). ) Tj ET Q q 0 0 0 rg BT 312.44 698.10 Td (ASU 2016-09 simplifies several aspects related to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 686.10 Td (accounting for share-based payment transactions, including the accounting for income taxes and forfeitures, statutory tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.10 Td (withholding requirements and classification on the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 353.54 674.10 Td (ASU 2016-09 is ef) Tj ET Q q 0 0 0 rg BT 428.63 674.10 Td (fective for our fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.10 Td (beginning November 1, 2017. ) Tj ET Q q 0 0 0 rg BT 172.02 662.10 Td (W) Tj ET Q q 0 0 0 rg BT 180.66 662.10 Td (e are currently evaluating the impact that the adoption of ) Tj ET Q q 0 0 0 rg BT 409.46 662.10 Td (ASU 2016-09 may have on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.10 Td (consolidated financial statements and disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 630.10 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 143.96 630.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.87 630.10 Td (ASU No. 2016-02, Leases \(ASU 2016-02\), which requires an entity to recognize assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 618.10 Td (and liabilities on the balance sheet for the rights and obligations created by leased assets and provide additional disclosures. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.10 Td (ASU 2016-02 is ef) Tj ET Q q 0 0 0 rg BT 125.09 606.10 Td (fective for our fiscal year beginning November 1, 2019, and, at that time, we will adopt the new standard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 594.10 Td (using a modified retrospective approach. ) Tj ET Q q 0 0 0 rg BT 215.32 594.10 Td (W) Tj ET Q q 0 0 0 rg BT 223.96 594.10 Td (e are currently evaluating the impact that the adoption of ) Tj ET Q q 0 0 0 rg BT 452.76 594.10 Td (ASU 2016-02 may have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 582.10 Td (on our consolidated financial statements and disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (In May 2014, the F) Tj ET Q q 0 0 0 rg BT 126.20 562.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 175.10 562.10 Td (ASU No. 2014-09, Revenue from Contracts with Customers \(ASU 2014-09\), which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (provides guidance for revenue recognition. ) Tj ET Q q 0 0 0 rg BT 223.83 550.10 Td (ASU 2014-09 af) Tj ET Q q 0 0 0 rg BT 289.75 550.10 Td (fects any entity that either enters into contracts with customers to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (transfer goods or services or enters into contracts for the transfer of nonfinancial assets. ) Tj ET Q q 0 0 0 rg BT 401.83 538.10 Td (ASU 2014-09 supersedes the revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (recognition requirements in ) Tj ET Q q 0 0 0 rg BT 162.47 526.10 Td (Accounting Standards Codification \(ASC\) ) Tj ET Q q 0 0 0 rg BT 343.36 526.10 Td (T) Tj ET Q q 0 0 0 rg BT 348.77 526.10 Td (opic 605, Revenue Recognition, and most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (industry-specific guidance. ) Tj ET Q q 0 0 0 rg BT 160.24 514.10 Td (ASU 2014-09 also supersedes some cost guidance included in ) Tj ET Q q 0 0 0 rg BT 410.48 514.10 Td (ASC Subtopic 605-35, Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (RecognitionConstruction-T) Tj ET Q q 0 0 0 rg BT 169.29 502.10 Td (ype and Production-T) Tj ET Q q 0 0 0 rg BT 255.79 502.10 Td (ype Contracts. ) Tj ET Q q 0 0 0 rg BT 320.31 502.10 Td (The standard) Tj ET Q q 0 0 0 rg BT 375.01 502.10 Td (s core principle is that a company will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (judgment and make more estimates than under the current guidance. ) Tj ET Q q 0 0 0 rg BT 325.56 466.10 Td (These judgments and estimates include identifying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (allocating the transaction price to each separate performance obligation. In ) Tj ET Q q 0 0 0 rg BT 350.70 442.10 Td (August 2015, the F) Tj ET Q q 0 0 0 rg BT 426.63 442.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 475.53 442.10 Td (ASU 2015-14 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Revenue from Contracts with Customers \(ASU 2015-14\), which delays the ef) Tj ET Q q 0 0 0 rg BT 378.34 430.10 Td (fective date of ) Tj ET Q q 0 0 0 rg BT 437.48 430.10 Td (ASU 2014-09 by one year) Tj ET Q q 0 0 0 rg BT 541.91 430.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (ASU 2014-09, as amended by ) Tj ET Q q 0 0 0 rg BT 172.21 418.10 Td (ASU 2015-14, is ef) Tj ET Q q 0 0 0 rg BT 249.80 418.10 Td (fective for our fiscal year beginning November1, 2018, and, at that time, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (expect to adopt the new standard under the modified retrospective approach.) Tj ET Q q 0 0 0 rg BT 358.04 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 366.67 406.10 Td (e do not believe the adoption of ) Tj ET Q q 0 0 0 rg BT 495.25 406.10 Td (ASU 2014-09 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (will have a material impact on the amount or timing of our home building revenues. ) Tj ET Q q 0 0 0 rg BT 388.07 394.10 Td (W) Tj ET Q q 0 0 0 rg BT 396.70 394.10 Td (e are continuing to evaluate the impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (the adoption of ) Tj ET Q q 0 0 0 rg BT 112.49 382.10 Td (ASU 2014-09 may have on other aspects of our business and on our consolidated financial statements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (disclosures.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 350.10 Td (2. Inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (Inventory at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.09 330.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.69 330.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.13 330.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.84 330.10 Td ( consisted of the following \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 295.60 386.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 295.60 61.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 295.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 295.60 61.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 269.60 386.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 269.60 61.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 269.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 269.60 61.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 295.6 m 497.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 295.6 m 562.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 295.6 m 497.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 295.6 m 562.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 256.6 m 497.5 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 256.6 m 562.5 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 244.60000000000002 m 497.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 242.60000000000002 m 497.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 244.60000000000002 m 562.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 242.60000000000002 m 562.5 242.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.45 310.17 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 300.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.85 310.17 Td (October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.50 300.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 286.17 Td (Land controlled for future communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 286.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 286.17 Td (72,075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 286.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 286.17 Td (71,729) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 273.17 Td (Land owned for future communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 273.17 Td (1,620,763) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 273.17 Td (1,884,146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 260.17 Td (Operating communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 260.17 Td (5,847,136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 260.17 Td (5,398,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 247.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 247.17 Td (7,539,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 247.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 247.17 Td (7,353,967) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.10 Td (Operating communities include communities of) Tj ET Q q 0 0 0 rg BT 240.89 224.10 Td (fering homes for sale, communities that have sold all available home sites but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.10 Td (have not completed delivery of the homes, communities that were previously of) Tj ET Q q 0 0 0 rg BT 369.17 212.10 Td (fering homes for sale but are temporarily closed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (due to business conditions or non-availability of improved home sites and that are expected to reopen within 12 months of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.10 Td (end of the fiscal period being reported on, and communities preparing to open for sale. ) Tj ET Q q 0 0 0 rg BT 398.88 188.10 Td (The carrying value attributable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.10 Td (operating communities includes the cost of homes under construction, land and land development costs, the carrying cost of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.10 Td (home sites in current and future phases of these communities, and the carrying cost of model homes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.10 Td (Communities that were previously of) Tj ET Q q 0 0 0 rg BT 198.68 144.10 Td (fering homes for sale but are temporarily closed due to business conditions, do not have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.10 Td (any remaining backlog and are not expected to reopen within 12 months of the end of the fiscal period being reported on have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.10 Td (been classified as land owned for future communities.) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Information regarding the classification, number) Tj ET Q q 0 0 0 rg BT 243.70 742.10 Td (, and carrying value of these temporarily closed communities, as of the dates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (indicated, is provided in the table below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 695.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 695.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 695.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 695.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 669.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 669.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 669.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 669.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 643.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 643.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 643.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 643.60 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 695.6 m 500.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 695.6 m 562.5 695.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.95 710.17 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 700.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.35 710.17 Td (October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 700.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 686.17 Td (Land owned for future communities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 673.17 Td (Number of communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 673.17 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 673.17 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 660.17 Td (Carrying value \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 660.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 660.17 Td (103,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 660.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 660.17 Td (123,936) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 647.17 Td (Operating communities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 647.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 647.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 634.17 Td (Number of communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 634.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 634.17 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 621.17 Td (Carrying value \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 621.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 621.17 Td (39,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 621.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 621.17 Td (8,523) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 594.10 Td (The amounts we have provided for inventory impairment char) Tj ET Q q 0 0 0 rg BT 298.63 594.10 Td (ges and the expensing of costs that we believed not to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 582.10 Td (recoverable, for the periods indicated, are shown in the table below \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 538.60 366.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 538.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 538.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 538.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 512.60 366.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 512.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 512.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 512.60 70.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 551.6 m 486.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 551.6 m 490.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 551.6 m 560.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 538.6 m 486.5 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 538.6 m 560.5 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 499.6 m 486.5 499.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 499.6 m 560.5 499.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 487.6 m 486.5 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 485.6 m 486.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 487.6 m 560.5 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 485.6 m 560.5 485.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 555.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.85 556.27 Td (Three months ended January 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 542.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 542.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.00 542.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 529.17 Td (Land controlled for future communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.00 529.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 529.17 Td (661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 529.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 529.17 Td (381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 516.17 Td (Land owned for future communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 516.17 Td (300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 503.17 Td (Operating communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 503.17 Td (4,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 503.17 Td (600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.00 490.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 490.17 Td (4,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 490.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 490.17 Td (1,281) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.10 Td (See Note 1) Tj ET Q q 0 0 0 rg BT 93.51 465.10 Td (1, Fair ) Tj ET Q q 0 0 0 rg BT 126.37 465.10 Td (V) Tj ET Q q 0 0 0 rg BT 132.49 465.10 Td (alue Disclosures, for information regarding the number of operating communities that we tested for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 453.10 Td (potential impairment, the number of operating communities in which we recognized impairment char) Tj ET Q q 0 0 0 rg BT 454.97 453.10 Td (ges, the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 441.10 Td (impairment char) Tj ET Q q 0 0 0 rg BT 115.63 441.10 Td (ges recognized, and the fair values of those communities, net of impairment char) Tj ET Q q 0 0 0 rg BT 438.67 441.10 Td (ges.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 421.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 421.10 Td (, we evaluated our land purchase contracts to determine whether any of the selling entities were ) Tj ET Q q 0 0 0 rg BT 515.49 421.10 Td (VIEs and, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (if they were, whether we were the primary beneficiary of any of them. Under these land purchase contracts, we do not possess ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (legal title to the land; our risk is generally limited to deposits paid to the sellers and predevelopment costs incurred; and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (creditors of the sellers generally have no recourse against us. ) Tj ET Q q 0 0 0 rg BT 295.19 385.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.69 385.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.29 385.10 Td (, we determined that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.42 385.10 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.42 385.10 Td ( land purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (contracts, with an aggregate purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.03 373.10 Td ($964.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.92 373.10 Td (, on which we had made aggregate deposits totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.30 373.10 Td ($46.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.19 373.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (were ) Tj ET Q q 0 0 0 rg BT 71.75 361.10 Td (VIEs, and that we were not the primary beneficiary of any ) Tj ET Q q 0 0 0 rg BT 307.03 361.10 Td (VIE related to our land purchase contracts. ) Tj ET Q q 0 0 0 rg BT 480.30 361.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.80 361.10 Td (October31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 349.10 Td (, we determined that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.14 349.10 Td (78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.14 349.10 Td ( land purchase contracts, with an aggregate purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.42 349.10 Td ($987.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.31 349.10 Td (, on which we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (made aggregate deposits totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.85 337.10 Td ($44.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.74 337.10 Td (, were ) Tj ET Q q 0 0 0 rg BT 264.49 337.10 Td (VIEs and that we were not the primary beneficiary of any ) Tj ET Q q 0 0 0 rg BT 497.27 337.10 Td (VIE related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (our land purchase contracts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 305.10 Td (Interest incurred, capitalized, and expensed, for the periods indicated, was as follows \(amounts in thousands\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.20 305.10 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 264.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 264.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 264.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 264.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 234.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 234.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 234.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 234.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 204.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 204.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 204.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 204.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 174.60 368.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 174.60 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 174.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 174.60 70.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 279.6 m 488.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 279.6 m 492.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 279.6 m 562.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 279.6 m 488.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 264.6 m 488.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 279.6 m 562.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 264.6 m 562.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 264.6 m 488.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 264.6 m 562.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 149.60000000000002 m 488.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 149.60000000000002 m 562.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 135.60000000000002 m 488.5 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 133.60000000000002 m 488.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 149.60000000000002 m 562.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 135.60000000000002 m 562.5 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 133.60000000000002 m 562.5 133.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 283.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.85 284.27 Td (Three months ended January 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 268.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 269.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 269.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 255.17 Td (Interest capitalized, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 254.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 254.27 Td (369,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 254.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 254.27 Td (373,128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 240.17 Td (Interest incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 239.27 Td (41,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 239.27 Td (40,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 225.17 Td (Interest expensed to cost of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 224.32 Td (\(27,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 224.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 224.32 Td (\(32,023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 224.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 210.17 Td (Write-off against other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 209.32 Td (\(42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 209.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 209.32 Td (\(275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 209.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 195.17 Td (Interest capitalized on investments in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 194.32 Td (\(2,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 194.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 194.32 Td (\(1,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 194.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 180.17 Td (Previously capitalized interest transferred to investments in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 179.32 Td (\(4,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 179.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 179.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 165.17 Td (Previously capitalized interest on investments in unconsolidated entities transferred to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 155.17 Td (inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 154.27 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 140.17 Td (Interest capitalized, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 139.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 139.27 Td (376,880) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 139.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 139.27 Td (379,930) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 115.10 Td (3. Investments in Unconsolidated Entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 95.10 Td (e have investments in various unconsolidated joint venture entities. ) Tj ET Q q 0 0 0 rg BT 329.51 95.10 Td (These joint ventures \(i\) develop land for the joint venture ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.10 Td (participants and for sale to outside builders \(Land Development Joint ) Tj ET Q q 0 0 0 rg BT 333.63 83.10 Td (V) Tj ET Q q 0 0 0 rg BT 339.75 83.10 Td (entures\); \(ii\) develop for) Tj ET Q q 0 0 0 rg BT 442.00 83.10 Td (-sale homes \(Home Building ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (Joint ) Tj ET Q q 0 0 0 rg BT 71.77 71.10 Td (V) Tj ET Q q 0 0 0 rg BT 77.88 71.10 Td (entures\); \(iii\) develop luxury for) Tj ET Q q 0 0 0 rg BT 211.52 71.10 Td (-rent residential apartments, commercial space, and a hotel \(Rental Property Joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.10 Td (V) Tj ET Q q 0 0 0 rg BT 56.11 59.10 Td (entures\), which includes our investment in ) Tj ET Q q 0 0 0 rg BT 232.83 59.10 Td (T) Tj ET Q q 0 0 0 rg BT 238.24 59.10 Td (oll Brothers Realty ) Tj ET Q q 0 0 0 rg BT 316.66 59.10 Td (T) Tj ET Q q 0 0 0 rg BT 322.42 59.10 Td (rust \(the T) Tj ET Q q 0 0 0 rg BT 368.16 59.10 Td (rust\); and \(iv\) invest in distressed loans and ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (real estate and provide financing to residential builders and developers for the acquisition and development of land and home ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (sites \(Gibraltar Joint ) Tj ET Q q 0 0 0 rg BT 138.41 730.10 Td (V) Tj ET Q q 0 0 0 rg BT 144.52 730.10 Td (entures\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.10 Td (The table below provides information as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.23 710.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.83 710.10 Td (, regarding active joint ventures that we are invested in, by joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.10 Td (venture category \($ amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 655.60 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.50 655.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 655.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 655.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 655.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 655.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 655.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 655.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 655.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 655.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 625.60 186.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.50 625.60 62.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 625.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 625.60 62.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 625.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 625.60 62.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 625.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 625.60 62.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 625.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 625.60 62.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235.5 655.6 m 297.5 655.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 655.6 m 363.5 655.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 655.6 m 429.5 655.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 655.6 m 495.5 655.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 655.6 m 561.5 655.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235.5 655.6 m 297.5 655.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 655.6 m 363.5 655.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 655.6 m 429.5 655.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 655.6 m 495.5 655.6 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.00 660.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 256.75 678.06 Td (Land) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.75 669.06 Td (Development) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 240.45 660.06 Td (Joint Ventures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.10 669.06 Td (Home Building) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.45 660.06 Td (Joint Ventures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.25 678.06 Td (Rental) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 669.06 Td (Property) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 372.45 660.06 Td (Joint Ventures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.75 669.06 Td (Gibraltar) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.45 660.06 Td (Joint Ventures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 520.80 660.06 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 645.27 Td (Number of unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 645.27 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 645.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 645.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.00 645.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 645.27 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 630.27 Td (Investment in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 630.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.15 630.27 Td (300,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 630.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 630.27 Td (130,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 630.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 630.27 Td (149,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 630.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 630.27 Td (21,486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 630.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 630.27 Td (601,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 615.27 Td (Number of unconsolidated entities with) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 605.27 Td (funding commitments by the Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 605.27 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 605.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 605.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 605.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 605.27 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 590.27 Td (Companys remaining funding commitment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 580.27 Td (to unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 580.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.15 580.27 Td (43,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 580.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 580.27 Td (8,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 580.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.15 580.27 Td (3,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 580.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 580.27 Td (9,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 580.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 580.27 Td (65,565) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (Certain joint ventures in which we have investments obtained debt financing to finance a portion of their activities. ) Tj ET Q q 0 0 0 rg BT 512.19 556.10 Td (The table ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (below provides information at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.31 544.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.90 544.10 Td (, regarding the debt financing obtained by category \($ amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 501.60 252.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 501.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 501.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 501.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 501.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 501.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 501.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 501.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 471.60 252.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 471.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 471.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 471.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 471.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 471.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 471.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 471.60 62.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 501.6 m 363.5 501.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 501.6 m 429.5 501.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 501.6 m 495.5 501.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 501.6 m 561.5 501.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 501.6 m 363.5 501.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 501.6 m 429.5 501.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 501.6 m 495.5 501.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 505.85 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 322.75 524.06 Td (Land) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.75 515.06 Td (Development) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 306.45 506.06 Td (Joint Ventures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.10 515.06 Td (Home Building) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 372.45 506.06 Td (Joint Ventures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.25 524.06 Td (Rental) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 448.50 515.06 Td (Property) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.45 506.06 Td (Joint Ventures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 520.80 506.06 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 491.27 Td (Number of joint ventures with debt financing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 491.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 491.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 491.27 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.00 491.27 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 476.27 Td (Aggregate loan commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 476.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 476.27 Td (275,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 476.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 476.27 Td (236,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 476.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 476.27 Td (1,002,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 476.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 476.27 Td (1,514,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 461.27 Td (Amounts borrowed under loan commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 461.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 461.27 Td (237,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 461.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 461.27 Td (57,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 461.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 461.27 Td (708,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 461.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 461.27 Td (1,003,348) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.10 Td (More specific and/or recent information regarding our investments in, advances to, and future commitments to these entities is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.10 Td (provided below) Tj ET Q q 0 0 0 rg BT 111.84 425.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 405.10 Td (Land Development Joint V) Tj ET Q q 0 0 0 rg BT 159.72 405.10 Td (entures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.55 385.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.53 385.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.36 385.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.96 385.10 Td (, our Land Development Joint ) Tj ET Q q 0 0 0 rg BT 366.97 385.10 Td (V) Tj ET Q q 0 0 0 rg BT 373.09 385.10 Td (entures sold approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.89 385.10 Td (303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.89 385.10 Td ( lots and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (recognized revenues of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.23 373.10 Td ($56.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.12 373.10 Td (. ) Tj ET Q q 0 0 0 rg BT 203.94 373.10 Td (W) Tj ET Q q 0 0 0 rg BT 212.58 373.10 Td (e acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.44 373.10 Td (102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.44 373.10 Td ( of these lots for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.93 373.10 Td ($25.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.82 373.10 Td (. Our share of the joint venture income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (from the lots we acquired of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.52 361.10 Td ($3.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.41 361.10 Td ( was deferred by reducing our basis in those lots acquired. During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.89 361.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.87 361.10 Td ( months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 349.10 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.98 349.10 Td (, our Land Development Joint ) Tj ET Q q 0 0 0 rg BT 266.99 349.10 Td (V) Tj ET Q q 0 0 0 rg BT 273.11 349.10 Td (entures sold approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.91 349.10 Td (83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.91 349.10 Td ( lots and recognized revenues of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.53 349.10 Td ($12.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 337.10 Td (. ) Tj ET Q q 0 0 0 rg BT 83.71 337.10 Td (W) Tj ET Q q 0 0 0 rg BT 92.35 337.10 Td (e acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.21 337.10 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.21 337.10 Td ( of these lots for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.70 337.10 Td ($0.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.59 337.10 Td (. Our share of the income from the lots we acquired of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.24 337.10 Td ($0.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.13 337.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (deferred by reducing our basis in those lots acquired.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 305.10 Td (In the fourth quarter of fiscal 2015, we entered into a joint venture with an unrelated party to purchase and develop a parcel of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 293.10 Td (land located in Irvine, California. ) Tj ET Q q 0 0 0 rg BT 185.61 293.10 Td (The joint venture expects to develop approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 293.10 Td (840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 293.10 Td ( home sites on this land in multiple ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 281.10 Td (phases. ) Tj ET Q q 0 0 0 rg BT 81.48 281.10 Td (W) Tj ET Q q 0 0 0 rg BT 90.12 281.10 Td (e have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.37 281.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.70 281.10 Td ( interest in this joint venture. ) Tj ET Q q 0 0 0 rg BT 261.00 281.10 Td (The joint venture intends to develop the property and sell approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 269.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.33 269.10 Td ( of the value of the home sites to each of the members of the joint venture. ) Tj ET Q q 0 0 0 rg BT 367.69 269.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.19 269.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.78 269.10 Td (, we had an investment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 257.10 Td ($170.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.89 257.10 Td ( in this joint venture and were committed to make additional contributions to this joint venture of up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.43 257.10 Td ($12.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 245.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 245.10 Td (. ) Tj ET Q q 0 0 0 rg BT 83.71 245.10 Td (T) Tj ET Q q 0 0 0 rg BT 89.12 245.10 Td (o finance a portion of the land purchase, the joint venture entered into a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.63 245.10 Td ($320.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.52 245.10 Td ( purchase money mortgage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 233.10 Td (with the seller) Tj ET Q q 0 0 0 rg BT 106.10 233.10 Td (. In December 2016, the joint venture entered into a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.47 233.10 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.36 233.10 Td ( building loan agreement and each member ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 221.10 Td (made a capital contribution of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.46 221.10 Td ($80.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.35 221.10 Td (. ) Tj ET Q q 0 0 0 rg BT 230.80 221.10 Td (A) Tj ET Q q 0 0 0 rg BT 237.47 221.10 Td ( portion of the proceeds from the building loan in addition to the capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 209.10 Td (contributions made by the members were used to repay the purchase money mortgage. ) Tj ET Q q 0 0 0 rg BT 398.23 209.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.73 209.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.33 209.10 Td (, this joint venture ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 197.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 197.10 Td ($186.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.83 197.10 Td ( of outstanding borrowings under the building loan.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 177.10 Td (Home Building Joint V) Tj ET Q q 0 0 0 rg BT 145.30 177.10 Td (entures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (Our Home Building Joint ) Tj ET Q q 0 0 0 rg BT 154.26 157.10 Td (V) Tj ET Q q 0 0 0 rg BT 160.38 157.10 Td (entures are delivering homes in New ) Tj ET Q q 0 0 0 rg BT 309.40 157.10 Td (Y) Tj ET Q q 0 0 0 rg BT 315.62 157.10 Td (ork City and Jupiter) Tj ET Q q 0 0 0 rg BT 394.93 157.10 Td (, Florida. During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.37 157.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.35 157.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.60 145.10 Td (, our Home Building Joint ) Tj ET Q q 0 0 0 rg BT 225.64 145.10 Td (V) Tj ET Q q 0 0 0 rg BT 231.75 145.10 Td (entures delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.83 145.10 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.83 145.10 Td ( homes with a sales value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.08 145.10 Td ($217.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.97 145.10 Td (. During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.52 145.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.50 145.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 133.10 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.92 133.10 Td (, our Home Building Joint ) Tj ET Q q 0 0 0 rg BT 283.96 133.10 Td (V) Tj ET Q q 0 0 0 rg BT 290.08 133.10 Td (entures delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.16 133.10 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.16 133.10 Td ( homes with a sales value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.41 133.10 Td ($16.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 133.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 113.10 Td (In December 2016, we entered into a joint venture with an unrelated party to complete the development of a high-rise luxury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 101.10 Td (condominium project in New ) Tj ET Q q 0 0 0 rg BT 169.60 101.10 Td (Y) Tj ET Q q 0 0 0 rg BT 175.83 101.10 Td (ork City) Tj ET Q q 0 0 0 rg BT 208.23 101.10 Td (. Before the formation of this joint venture, we acquired the property and incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 89.10 Td ($176.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.15 89.10 Td ( of land and land development costs. ) Tj ET Q q 0 0 0 rg BT 317.82 89.10 Td (The joint venture, in which we have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.38 89.10 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.71 89.10 Td ( interest, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.10 Td (purchased the property from us at our cost, a portion of which was financed by a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.62 77.10 Td ($236.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.52 77.10 Td ( construction loan obtained by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.10 Td (the joint venture. From the sale and financing, we received proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.56 65.10 Td ($148.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.45 65.10 Td (, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.22 65.10 Td ($106.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.11 65.10 Td ( had been held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 53.10 Td (in escrow by our captive title company at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.72 53.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.43 53.10 Td ( and was included in Receivables, prepaid expenses, and other ) 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 303.50 31.60 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (assets on our Condensed Consolidated Balance Sheet at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.95 742.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 354.10 742.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.60 742.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.20 742.10 Td (, we had an investment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td ($30.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 730.10 Td ( in this joint venture and the joint venture had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.85 730.10 Td ($57.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.74 730.10 Td ( of outstanding borrowings under the construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (loan.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 698.10 Td (Rental Property Joint V) Tj ET Q q 0 0 0 rg BT 146.95 698.10 Td (entures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 678.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 678.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.04 678.10 Td (, our Rental Property Joint ) Tj ET Q q 0 0 0 rg BT 251.18 678.10 Td (V) Tj ET Q q 0 0 0 rg BT 257.29 678.10 Td (entures owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.83 678.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.83 678.10 Td ( for) Tj ET Q q 0 0 0 rg BT 341.79 678.10 Td (-rent apartment projects, which are located in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 666.10 Td (metro Boston to metro ) Tj ET Q q 0 0 0 rg BT 142.59 666.10 Td (W) Tj ET Q q 0 0 0 rg BT 151.23 666.10 Td (ashington, D.C. corridor) Tj ET Q q 0 0 0 rg BT 248.16 666.10 Td (. ) Tj ET Q q 0 0 0 rg BT 252.61 666.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.11 666.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.71 666.10 Td (, our joint ventures had approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.95 666.10 Td (2,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.45 666.10 Td ( units that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 654.10 Td (were occupied or ready for occupancy) Tj ET Q q 0 0 0 rg BT 202.32 654.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.32 654.10 Td (600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.32 654.10 Td ( units in the lease-up stage, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.07 654.10 Td (1,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.57 654.10 Td ( units under active development. In addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 642.10 Td (we either own, have under contract, or under a letter of intent approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.93 642.10 Td (4,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.43 642.10 Td ( units, which are in the planning stage. ) Tj ET Q q 0 0 0 rg BT 536.88 642.10 Td (W) Tj ET Q q 0 0 0 rg BT 545.52 642.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 630.10 Td (intend to develop these units with joint venture partners in the future.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (In the second quarter of fiscal 2016, we entered into a joint venture with an unrelated party to develop a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.35 610.10 Td (525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.35 610.10 Td (-unit luxury for) Tj ET Q q 0 0 0 rg BT 543.81 610.10 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (rent residential apartment building near Union Station in ) Tj ET Q q 0 0 0 rg BT 278.65 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 287.29 598.10 Td (ashington, D.C. Prior to the formation of this joint venture, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (acquired the land, through a 100%-owned entity) Tj ET Q q 0 0 0 rg BT 242.35 586.10 Td (, and incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.10 586.10 Td ($35.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.99 586.10 Td ( of land and land development costs. Our partner ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (acquired a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.86 574.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.19 574.10 Td ( interest in this entity for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.29 574.10 Td ($20.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.18 574.10 Td ( and we subsequently received cash of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.95 574.10 Td ($18.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.85 574.10 Td ( to align the capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (accounts of each of the partners of the joint venture. In the third quarter of fiscal 2016, as a result of the sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.40 562.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.73 562.10 Td ( of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (interest to our partner) Tj ET Q q 0 0 0 rg BT 135.96 550.10 Td (, we recognized a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.96 550.10 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.86 550.10 Td (. Due to our continued involvement in the joint venture through our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (ownership interest, we deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.56 538.10 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.45 538.10 Td ( of the gain realized on the sale. ) Tj ET Q q 0 0 0 rg BT 356.57 538.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.07 538.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.67 538.10 Td (, we had an investment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td ($29.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 526.10 Td ( in this joint venture and expect to make additional investments of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.76 526.10 Td ($0.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 526.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (development of this project. In November 2016, the joint venture entered into a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.19 514.10 Td ($130.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.08 514.10 Td ( construction loan agreement. ) Tj ET Q q 0 0 0 rg BT 549.32 514.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.60 502.10 Td (, there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.01 502.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.01 502.10 Td ( outstanding borrowings under the construction loan agreement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.10 Td (In the fourth quarter of fiscal 2016, we entered into a joint venture with an unrelated party to develop a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.02 482.10 Td (390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.02 482.10 Td (-unit luxury for) Tj ET Q q 0 0 0 rg BT 540.48 482.10 Td (-rent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 470.10 Td (residential apartment building in a Boston, Massachusetts suburb, on land that we were under contract to purchase. ) Tj ET Q q 0 0 0 rg BT 511.92 470.10 Td (W) Tj ET Q q 0 0 0 rg BT 520.56 470.10 Td (e have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.10 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.33 458.10 Td ( interest in this joint venture. In the fourth quarter of fiscal 2016, the joint venture entered into a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.05 458.10 Td ($91.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.94 458.10 Td ( construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.10 Td (loan agreement with a bank to finance the development of this project. ) Tj ET Q q 0 0 0 rg BT 334.07 446.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.57 446.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.17 446.10 Td (, there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.58 446.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.58 446.10 Td ( outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 434.10 Td (borrowings under the construction loan agreement. ) Tj ET Q q 0 0 0 rg BT 255.78 434.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.28 434.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.88 434.10 Td (, we had an investment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.12 434.10 Td ($9.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.02 434.10 Td ( in this joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.10 Td (venture and expect to make additional investments of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.30 422.10 Td ($1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.20 422.10 Td ( for the development of this project.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 402.10 Td (e have an investment in a joint venture in which we have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.50 402.10 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.83 402.10 Td ( interest to develop a luxury hotel in conjunction with a high-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 Td (rise luxury condominium project in New ) Tj ET Q q 0 0 0 rg BT 215.15 390.10 Td (Y) Tj ET Q q 0 0 0 rg BT 221.37 390.10 Td (ork City being developed by a related Home Building Joint ) Tj ET Q q 0 0 0 rg BT 460.59 390.10 Td (V) Tj ET Q q 0 0 0 rg BT 466.70 390.10 Td (enture. ) Tj ET Q q 0 0 0 rg BT 496.14 390.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.64 390.10 Td (January31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 378.10 Td (, we had invested ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.92 378.10 Td ($40.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.82 378.10 Td ( in this joint venture. In November 2014, this joint venture, along with the related Home ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.10 Td (Building Joint ) Tj ET Q q 0 0 0 rg BT 109.27 366.10 Td (V) Tj ET Q q 0 0 0 rg BT 115.39 366.10 Td (enture, entered into a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.29 366.10 Td ($160.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.18 366.10 Td ( construction loan agreement to complete the construction of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.10 Td (condominiums and the hotel. In December 2016, this joint venture entered into an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.20 354.10 Td ($80.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.09 354.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.09 354.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.07 354.10 Td (-year term loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 96.46 342.10 Td (The proceeds from the term loan, along with proceeds from the closing of condominium units at the Home Building ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (Joint ) Tj ET Q q 0 0 0 rg BT 71.77 330.10 Td (V) Tj ET Q q 0 0 0 rg BT 77.88 330.10 Td (enture, were used to repay the construction loan. ) Tj ET Q q 0 0 0 rg BT 273.93 330.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.43 330.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.02 330.10 Td (, this joint venture had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.23 330.10 Td ($80.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.12 330.10 Td ( of outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (borrowings under the term loan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (In 1998, we formed the ) Tj ET Q q 0 0 0 rg BT 145.90 298.10 Td (T) Tj ET Q q 0 0 0 rg BT 151.66 298.10 Td (rust to invest in commercial real estate opportunities. ) Tj ET Q q 0 0 0 rg BT 366.14 298.10 Td (The ) Tj ET Q q 0 0 0 rg BT 384.01 298.10 Td (T) Tj ET Q q 0 0 0 rg BT 389.77 298.10 Td (rust is ef) Tj ET Q q 0 0 0 rg BT 424.02 298.10 Td (fectively owned one-third by us; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (one-third by current and former members of our senior management; and one-third by an unrelated party) Tj ET Q q 0 0 0 rg BT 468.37 286.10 Td (. ) Tj ET Q q 0 0 0 rg BT 472.82 286.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.26 286.10 Td (January31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 274.10 Td (, our investment in the ) Tj ET Q q 0 0 0 rg BT 162.03 274.10 Td (T) Tj ET Q q 0 0 0 rg BT 167.78 274.10 Td (rust was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.33 274.10 Td (zero) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.54 274.10 Td ( as cumulative distributions received from the ) Tj ET Q q 0 0 0 rg BT 406.14 274.10 Td (T) Tj ET Q q 0 0 0 rg BT 411.90 274.10 Td (rust have been in excess of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (carrying amount of our net investment. ) Tj ET Q q 0 0 0 rg BT 208.39 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 217.03 262.10 Td (e provide development, finance, and management services to the ) Tj ET Q q 0 0 0 rg BT 478.13 262.10 Td (T) Tj ET Q q 0 0 0 rg BT 483.89 262.10 Td (rust and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (recognized fees under the terms of various agreements in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.78 250.10 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.68 250.10 Td ( in both the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.45 250.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.43 250.10 Td (-month periods ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.60 238.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.04 238.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.04 238.10 Td (. In the first quarter of fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.99 238.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.99 238.10 Td (, we received a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.45 238.10 Td ($2.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.35 238.10 Td ( distribution from the ) Tj ET Q q 0 0 0 rg BT 491.93 238.10 Td (T) Tj ET Q q 0 0 0 rg BT 497.69 238.10 Td (rust, which is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (included in Income from unconsolidated entities in our Condensed Consolidated Statement of Operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (Comprehensive Income. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.25 214.10 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.47 214.10 Td ( distributions were received from the ) Tj ET Q q 0 0 0 rg BT 312.24 214.10 Td (T) Tj ET Q q 0 0 0 rg BT 318.00 214.10 Td (rust in the first quarter of fiscal 2017. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 194.10 Td (Gibraltar Joint V) Tj ET Q q 0 0 0 rg BT 120.02 194.10 Td (entures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.10 Td (In the second quarter of fiscal 2016, we, through our wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 362.61 174.10 Td (, Gibraltar Capital and ) Tj ET Q q 0 0 0 rg BT 453.97 174.10 Td (Asset Management, LLC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.10 Td (\(Gibraltar\), entered into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.61 162.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.61 162.10 Td ( ventures with an institutional investor to provide builders and developers with land banking and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.10 Td (venture capital. ) Tj ET Q q 0 0 0 rg BT 113.96 150.10 Td (W) Tj ET Q q 0 0 0 rg BT 122.59 150.10 Td (e have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.85 150.10 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.18 150.10 Td ( interest in these ventures. ) Tj ET Q q 0 0 0 rg BT 282.63 150.10 Td (These ventures will finance builders) Tj ET Q q 0 0 0 rg BT 430.17 150.10 Td ( and developers) Tj ET Q q 0 0 0 rg BT 495.51 150.10 Td ( acquisition and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.10 Td (development of land and home sites and pursue other complementary investment strategies. ) Tj ET Q q 0 0 0 rg BT 419.44 138.10 Td (W) Tj ET Q q 0 0 0 rg BT 428.08 138.10 Td (e may invest up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.90 138.10 Td ($100.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 126.10 Td ( in these ventures. ) Tj ET Q q 0 0 0 rg BT 153.04 126.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.49 126.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.08 126.10 Td (, we had an investment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.33 126.10 Td ($10.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.22 126.10 Td ( in these ventures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (In addition, in the second quarter of fiscal 2016, we entered into a separate venture with the same institutional investor to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (purchase, from Gibraltar) Tj ET Q q 0 0 0 rg BT 148.17 94.10 Td (, certain foreclosed real estate owned \(REO\) and distressed loans for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.61 94.10 Td ($24.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 94.10 Td (. ) Tj ET Q q 0 0 0 rg BT 492.32 94.10 Td (W) Tj ET Q q 0 0 0 rg BT 500.96 94.10 Td (e have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.21 94.10 Td (24%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.54 94.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (interest in this venture. ) Tj ET Q q 0 0 0 rg BT 143.59 82.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.09 82.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.69 82.10 Td (, we have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.17 82.10 Td ($5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.06 82.10 Td ( investment in this venture and are committed to invest an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.49 70.10 Td ($9.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.38 70.10 Td (, if necessary) Tj ET Q q 0 0 0 rg BT 193.21 70.10 Td (.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Guarantees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (The unconsolidated entities in which we have investments generally finance their activities with a combination of partner ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.25 Td (equity and debt financing. In some instances, we and our partners have guaranteed debt of certain unconsolidated entities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.25 Td (These guarantees may include any or all of the following: \(i\) project completion guarantees, including any cost overruns; \(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 686.25 Td (repayment guarantees, generally covering a percentage of the outstanding loan; \(iii\) carry cost guarantees, which cover costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.25 Td (such as interest, real estate taxes, and insurance; \(iv\) an environmental indemnity provided to the lender that holds the lender ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.25 Td (harmless from and against losses arising from the dischar) Tj ET Q q 0 0 0 rg BT 279.21 662.25 Td (ge of hazardous materials from the property and non-compliance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.25 Td (applicable environmental laws; and \(v\) indemnification of the lender from bad boy acts of the unconsolidated entity) Tj ET Q q 0 0 0 rg BT 521.42 650.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 630.25 Td (In some instances, the guarantees provided in connection with loans to an unconsolidated entity are joint and several. In these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 618.25 Td (situations, we generally have a reimbursement agreement with our partner that provides that neither party is responsible for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.25 Td (more than its proportionate share or agreed upon share of the guarantee; however) Tj ET Q q 0 0 0 rg BT 374.47 606.25 Td (, if a joint venture partner does not have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 594.25 Td (adequate financial resources to meet its obligations under the reimbursement agreement, we may be liable for more than our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 582.25 Td (proportionate share. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 562.25 Td (e believe that, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.60 562.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.20 562.25 Td (, in the event we become legally obligated to perform under a guarantee of an obligation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (of an unconsolidated entity due to a triggering event, the collateral in such entity should be suf) Tj ET Q q 0 0 0 rg BT 427.77 550.25 Td (ficient to repay a significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (portion of the obligation. If it is not, we and our partners would need to contribute additional capital to the venture. ) Tj ET Q q 0 0 0 rg BT 511.55 538.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.60 526.25 Td (, certain unconsolidated entities have loan commitments aggregating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.46 526.25 Td ($1.25 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.57 526.25 Td (, of which, if the full amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (of the debt obligations were borrowed, we estimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.44 514.25 Td ($206.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.33 514.25 Td ( to be our maximum exposure related to repayment and carry ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (cost guarantees. ) Tj ET Q q 0 0 0 rg BT 115.81 502.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.31 502.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.91 502.25 Td (, the unconsolidated entities had borrowed an aggregate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.94 502.25 Td ($747.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.83 502.25 Td (, of which we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (estimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.82 490.25 Td ($147.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.71 490.25 Td ( to be our maximum exposure related to repayment and carry cost guarantees. ) Tj ET Q q 0 0 0 rg BT 457.75 490.25 Td (The terms of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (guarantees generally range from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.60 478.25 Td (3 months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.55 478.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.33 478.25 Td (46 months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.28 478.25 Td (. ) Tj ET Q q 0 0 0 rg BT 278.10 478.25 Td (These maximum exposure estimates do not take into account any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (recoveries from the underlying collateral or any reimbursement from our partners.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.25 Td (In addition, we have guaranteed approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.76 446.25 Td ($4.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.65 446.25 Td ( of ground lease payments and insurance deductibles for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.08 446.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.07 446.25 Td ( joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 434.25 Td (ventures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 414.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.04 414.25 Td (, the estimated aggregate fair value of the guarantees provided by us related to debt and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.25 Td (obligations of certain unconsolidated entities was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.21 402.25 Td ($5.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.10 402.25 Td (. ) Tj ET Q q 0 0 0 rg BT 363.92 402.25 Td (W) Tj ET Q q 0 0 0 rg BT 372.56 402.25 Td (e have not made payments under any of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.25 Td (guarantees, nor have we been called upon to do so.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (V) Tj ET Q q 0 0 0 rg BT 55.56 370.25 Td (ariable Interest Entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 350.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 350.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.54 350.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.24 350.25 Td (, we determined that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.38 350.25 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.93 350.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.37 350.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.35 350.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 412.01 350.25 Td (, of our joint ventures were ) Tj ET Q q 0 0 0 rg BT 522.63 350.25 Td (VIEs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.25 Td (under the guidance of ) Tj ET Q q 0 0 0 rg BT 138.86 338.25 Td (ASC 810, Consolidation. However) Tj ET Q q 0 0 0 rg BT 287.05 338.25 Td (, we have concluded that we were not the primary beneficiary of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.25 Td (these ) Tj ET Q q 0 0 0 rg BT 72.87 326.25 Td (VIEs because the power to direct the activities of such ) Tj ET Q q 0 0 0 rg BT 292.61 326.25 Td (VIEs that most significantly impact their performance was either ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.25 Td (shared by us and such ) Tj ET Q q 0 0 0 rg BT 140.08 314.25 Td (VIEs) Tj ET Q q 0 0 0 rg BT 163.22 314.25 Td ( other partners or such activities were controlled by our partner) Tj ET Q q 0 0 0 rg BT 414.79 314.25 Td (. For ) Tj ET Q q 0 0 0 rg BT 436.01 314.25 Td (VIEs where the power to direct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.25 Td (significant activities is shared, business plans, budgets, and other major decisions are required to be unanimously approved by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.25 Td (all members. Management and other fees earned by us are nominal and believed to be at market rates, and there is no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.25 Td (significant economic disproportionality between us and the other members. ) Tj ET Q q 0 0 0 rg BT 353.63 278.25 Td (The information presented below regarding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.25 Td (investments, commitments, and guarantees in unconsolidated entities deemed to be ) Tj ET Q q 0 0 0 rg BT 384.74 266.25 Td (VIEs is also included in the information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.25 Td (provided above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 234.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 234.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.54 234.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.24 234.25 Td (, our investments in the unconsolidated joint ventures deemed to be ) Tj ET Q q 0 0 0 rg BT 492.23 234.25 Td (VIEs, which is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.25 Td (included in Investments in unconsolidated entities in the accompanying Condensed Consolidated Balance Sheets, totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.25 Td ($21.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.89 210.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.33 210.25 Td ($16.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.22 210.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 229.88 210.25 Td (. ) Tj ET Q q 0 0 0 rg BT 234.33 210.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.83 210.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.43 210.25 Td (, the maximum exposure of loss to our investments in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.25 Td (unconsolidated joint ventures that are ) Tj ET Q q 0 0 0 rg BT 202.28 198.25 Td (VIEs was limited to our investments in the unconsolidated ) Tj ET Q q 0 0 0 rg BT 438.45 198.25 Td (VIEs, except with regard to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.25 Td ($9.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.89 186.25 Td ( of additional commitments to the ) Tj ET Q q 0 0 0 rg BT 236.46 186.25 Td (VIEs. ) Tj ET Q q 0 0 0 rg BT 261.46 186.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.96 186.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.67 186.25 Td (, the maximum exposure of loss to our investments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.25 Td (the unconsolidated joint ventures that are ) Tj ET Q q 0 0 0 rg BT 216.99 174.25 Td (VIEs was limited to our investments in the unconsolidated ) Tj ET Q q 0 0 0 rg BT 453.16 174.25 Td (VIEs, except with regard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 162.25 Td ($70.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.17 162.25 Td ( of loan guarantees and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.41 162.25 Td ($1.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.30 162.25 Td ( of additional commitments to the ) Tj ET Q q 0 0 0 rg BT 395.87 162.25 Td (VIEs. Of our potential exposure for these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.25 Td (loan guarantees at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.69 150.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.39 150.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.39 150.25 Td ($14.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.29 150.25 Td ( is related to repayment and carry cost guarantees.) 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 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Joint V) Tj ET Q q 0 0 0 rg BT 79.18 742.25 Td (enture Condensed Financial Information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (The Condensed Balance Sheets, as of the dates indicated, and the Condensed Statements of Operations and Comprehensive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.25 Td (Income, for the periods indicated, for the unconsolidated entities in which we have an investment are included below \(in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.25 Td (thousands\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 678.25 Td (Condensed Balance Sheets:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 643.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 643.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 643.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 643.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 617.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 617.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 617.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 617.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 591.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 591.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 591.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 591.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 565.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 565.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 565.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 565.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 539.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 539.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 539.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 539.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 513.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 513.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 513.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 513.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 487.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 487.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 487.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 487.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 461.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 461.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 461.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 461.75 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 643.75 m 493.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 643.75 m 562.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 539.75 m 562.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 539.75 m 493.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 527.75 m 493.5 527.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 525.75 m 493.5 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 539.75 m 562.5 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 527.75 m 562.5 527.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 525.75 m 562.5 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 474.75 m 493.5 474.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 474.75 m 562.5 474.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 474.75 m 493.5 474.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 462.75 m 493.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 460.75 m 493.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 474.75 m 562.5 474.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 462.75 m 562.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 460.75 m 562.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 460.75 m 493.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 462.75 m 493.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 449.75 m 493.5 449.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 447.75 m 493.5 447.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 460.75 m 562.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 462.75 m 562.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 449.75 m 562.5 449.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 447.75 m 562.5 447.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 648.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.45 658.32 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 648.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.85 658.32 Td (October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.50 648.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 634.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 634.32 Td (110,665) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 634.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 634.32 Td (130,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 621.32 Td (Inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 621.32 Td (1,177,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 621.32 Td (1,074,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 608.32 Td (Loans receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 608.32 Td (26,684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 608.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 595.32 Td (Non-performing loan portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 595.32 Td (3,835) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 595.32 Td (4,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 582.32 Td (Rental properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 582.32 Td (675,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 582.32 Td (621,615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 569.32 Td (Rental properties under development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 569.32 Td (312,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 569.32 Td (302,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.32 Td (Real estate owned \(REO\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 556.32 Td (84,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 556.32 Td (87,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 543.32 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 543.32 Td (169,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 543.32 Td (175,805) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 530.32 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 530.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 530.32 Td (2,560,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 530.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 530.32 Td (2,397,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 517.32 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 517.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 517.32 Td (1,008,011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 517.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 517.32 Td (1,164,883) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 504.32 Td (Other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 504.32 Td (132,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 504.32 Td (152,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 491.32 Td (Members equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 491.32 Td (1,322,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 491.32 Td (980,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 478.32 Td (Noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 478.32 Td (96,692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 478.32 Td (99,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 465.32 Td (Total liabilities and equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 465.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 465.32 Td (2,560,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 465.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 465.32 Td (2,397,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 452.32 Td (Companys net investment in unconsolidated entities \(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 452.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 452.32 Td (601,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 452.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 452.32 Td (496,411) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 564.00 449.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 68.00 431.25 Td (Dif) Tj ET Q q 0 0 0 rg BT 81.15 431.25 Td (ferences between our net investment in unconsolidated entities and our underlying equity in the net assets of the entities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 419.25 Td (are primarily a result of the acquisition price of an investment in a Land Development Joint ) Tj ET Q q 0 0 0 rg BT 436.04 419.25 Td (V) Tj ET Q q 0 0 0 rg BT 442.16 419.25 Td (enture in fiscal 2012 that was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 407.25 Td (in excess of our pro rata share of the underlying equity; impairments related to our investment in unconsolidated entities; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 395.25 Td (interest capitalized on our investments; the estimated fair value of the guarantees provided to the joint ventures; gains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 383.25 Td (recognized from the sale of our ownership interests; and distributions from entities in excess of the carrying amount of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 371.25 Td (net investment.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 351.25 Td (Condensed Statements of Operations and Compr) Tj ET Q q 0 0 0 rg BT 259.55 351.25 Td (ehensive Income:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 314.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 314.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 314.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 314.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 288.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 288.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 288.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 288.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 262.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 262.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 262.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 262.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 236.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 236.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 236.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 236.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 210.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 210.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 210.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 210.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 184.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 184.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 184.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 184.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 158.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 158.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 158.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 158.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 132.75 374.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 132.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 132.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 132.75 67.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 327.75 m 491.5 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 327.75 m 495.5 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 327.75 m 562.5 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 327.75 m 491.5 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 314.75 m 491.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 327.75 m 495.5 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 327.75 m 562.5 327.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 314.75 m 562.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 301.75 m 491.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 314.75 m 562.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 301.75 m 562.5 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 275.75 m 491.5 275.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 262.75 m 491.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 275.75 m 562.5 275.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 262.75 m 562.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 249.75 m 491.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 249.75 m 562.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 249.75 m 491.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 249.75 m 562.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 223.75 m 491.5 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 223.75 m 562.5 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 223.75 m 491.5 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 223.75 m 562.5 223.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 197.75 m 491.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 197.75 m 562.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 171.75 m 491.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 171.75 m 562.5 171.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 145.75 m 491.5 145.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 133.75 m 491.5 133.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 131.75 m 491.5 131.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 145.75 m 562.5 145.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 133.75 m 562.5 133.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 131.75 m 562.5 131.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 120.75 m 491.5 120.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 118.75 m 491.5 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 120.75 m 562.5 120.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 118.75 m 562.5 118.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 331.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.85 331.32 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 318.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.50 318.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 318.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 305.32 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 305.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 305.32 Td (295,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 305.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 305.32 Td (42,486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 292.32 Td (Cost of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 292.32 Td (165,706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 292.32 Td (35,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 279.32 Td (Other expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 279.32 Td (21,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 279.32 Td (9,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 266.32 Td (Total expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 266.32 Td (186,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 266.32 Td (44,820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 253.32 Td (Gain on disposition of loans and REO) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 253.32 Td (8,886) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 253.32 Td (25,983) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 240.32 Td (Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 240.32 Td (117,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 240.32 Td (23,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 227.32 Td (Other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 227.32 Td (2,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 227.32 Td (1,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 214.32 Td (Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 214.32 Td (120,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 214.32 Td (24,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 201.32 Td (Income tax provision) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 201.32 Td (3,827) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 201.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 188.32 Td (Net income including earnings from noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 188.32 Td (116,507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 188.32 Td (24,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 175.32 Td (Less: income attributable to noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 175.37 Td (\(2,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 175.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 175.37 Td (\(11,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 175.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 162.32 Td (Net income attributable to controlling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 162.32 Td (114,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 162.32 Td (13,044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 149.32 Td (Other comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 149.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 149.32 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 136.32 Td (Total comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 136.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 136.32 Td (114,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 136.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 136.32 Td (13,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 123.32 Td (Companys equity in earnings of unconsolidated entities \(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 123.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 123.32 Td (46,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 123.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 123.32 Td (8,638) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 68.00 102.25 Td (Dif) Tj ET Q q 0 0 0 rg BT 81.15 102.25 Td (ferences between our equity in earnings of unconsolidated entities and the underlying net income of the entities are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 90.25 Td (primarily a result of a basis dif) Tj ET Q q 0 0 0 rg BT 190.56 90.25 Td (ference of an acquired joint venture interest; distributions from entities in excess of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 78.25 Td (carrying amount of our net investment; recoveries of previously incurred char) Tj ET Q q 0 0 0 rg BT 378.82 78.25 Td (ges; unrealized gains on our retained joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 66.25 Td (venture interests; and our share of the entities) Tj ET Q q 0 0 0 rg BT 252.47 66.25 Td ( profits related to home sites purchased by us which reduces our cost basis of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 54.25 Td (the home sites acquired.) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (4. Receivables, Pr) Tj ET Q q 0 0 0 rg BT 125.35 742.25 Td (epaid Expenses, and Other) Tj ET Q q 0 0 0 rg BT 239.63 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 241.58 742.25 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (Receivables, prepaid expenses, and other assets at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.43 722.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.03 722.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.46 722.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.17 722.25 Td (, consisted of the following \(amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.25 Td (in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 674.75 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 674.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 674.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 674.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 644.75 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 644.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 644.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 644.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 614.75 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 614.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 614.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 614.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 584.75 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 584.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 584.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 584.75 58.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 674.75 m 500.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 674.75 m 562.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 674.75 m 500.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 674.75 m 562.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 569.75 m 500.5 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 569.75 m 562.5 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 555.75 m 500.5 555.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 553.75 m 500.5 553.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 555.75 m 562.5 555.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 553.75 m 562.5 553.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.95 689.42 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 679.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.35 689.42 Td (October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 679.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 664.42 Td (Expected recoveries from insurance carriers and others) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 664.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 664.42 Td (164,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 664.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 664.42 Td (165,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 649.42 Td (Improvement cost receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 649.42 Td (91,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 649.42 Td (85,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.42 Td (Escrow cash held by our captive title company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 634.42 Td (40,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 634.42 Td (138,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 619.42 Td (Property held for rental development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 619.42 Td (112,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 619.42 Td (81,693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 604.42 Td (Investment in foreclosed real estate owned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 604.42 Td (10,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 604.42 Td (11,552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 589.42 Td (Prepaid expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 589.42 Td (20,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 589.42 Td (25,659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 574.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 574.42 Td (71,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 574.42 Td (73,898) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 559.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 559.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 559.42 Td (512,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 559.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 559.42 Td (582,758) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 523.25 Td (5. Loans Payable, Senior) Tj ET Q q 0 0 0 rg BT 155.11 523.25 Td ( Notes, and Mortgage Company Loan Facility ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 503.25 Td (Loans Payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 483.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 483.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 483.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.54 483.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.24 483.25 Td (, loans payable consisted of the following \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 446.75 390.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 446.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 446.75 6.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 446.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 420.75 390.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 420.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 420.75 6.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 420.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 394.75 390.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 394.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 394.75 6.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 394.75 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 446.75 m 497.5 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 446.75 m 561.5 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 394.75 m 497.5 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 394.75 m 561.5 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 394.75 m 497.5 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 382.75 m 497.5 382.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 380.75 m 497.5 380.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 394.75 m 561.5 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 382.75 m 561.5 382.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 380.75 m 561.5 380.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.95 461.42 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 451.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.35 461.42 Td (October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 451.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 437.32 Td (Senior unsecured term loan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 437.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 437.32 Td (500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 437.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 437.32 Td (500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 424.32 Td (Credit facility borrowings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 424.32 Td (250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 424.32 Td (250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 411.32 Td (Loans payable other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 411.32 Td (131,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 411.32 Td (122,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 398.32 Td (Deferred issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 398.37 Td (\(1,643) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 398.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 398.37 Td (\(1,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 398.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 385.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 385.32 Td (879,894) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 385.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 385.32 Td (871,079) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 362.25 Td (Senior Unsecured T) Tj ET Q q 0 0 0 rg BT 131.87 362.25 Td (erm Loan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.25 Td (On February 3, 2014, we entered into a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.40 342.25 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.95 342.25 Td (-year senior) Tj ET Q q 0 0 0 rg BT 272.02 342.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.02 342.25 Td ($485.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.91 342.25 Td (, unsecured term loan facility \(the T) Tj ET Q q 0 0 0 rg BT 483.21 342.25 Td (erm Loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.25 Td (Facility\) with a syndicate of banks. ) Tj ET Q q 0 0 0 rg BT 197.28 330.25 Td (W) Tj ET Q q 0 0 0 rg BT 205.92 330.25 Td (e borrowed the full amount of the ) Tj ET Q q 0 0 0 rg BT 342.64 330.25 Td (T) Tj ET Q q 0 0 0 rg BT 348.05 330.25 Td (erm Loan Facility on February 3, 2014. In October ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.25 Td (2014, we increased the ) Tj ET Q q 0 0 0 rg BT 143.95 318.25 Td (T) Tj ET Q q 0 0 0 rg BT 149.36 318.25 Td (erm Loan Facility by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.01 318.25 Td ($15.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.90 318.25 Td ( and borrowed the full amount of the increase. ) Tj ET Q q 0 0 0 rg BT 476.88 318.25 Td (The ) Tj ET Q q 0 0 0 rg BT 494.74 318.25 Td (T) Tj ET Q q 0 0 0 rg BT 500.15 318.25 Td (erm Loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.25 Td (Facility) Tj ET Q q 0 0 0 rg BT 79.90 306.25 Td (, as amended, matures on ) Tj ET Q q 0 0 0 rg BT 182.93 306.25 Td (August 2, 2021. ) Tj ET Q q 0 0 0 rg BT 248.77 306.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.27 306.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.87 306.25 Td (, the interest rate on borrowings was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.61 306.25 Td (2.18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.44 306.25 Td ( per annum.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 286.25 Td (e and substantially all of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.72 286.25 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.05 286.25 Td (-owned home building subsidiaries are guarantors under the ) Tj ET Q q 0 0 0 rg BT 440.03 286.25 Td (T) Tj ET Q q 0 0 0 rg BT 445.44 286.25 Td (erm Loan Facility) Tj ET Q q 0 0 0 rg BT 516.44 286.25 Td (. ) Tj ET Q q 0 0 0 rg BT 521.25 286.25 Td (The ) Tj ET Q q 0 0 0 rg BT 539.12 286.25 Td (T) Tj ET Q q 0 0 0 rg BT 544.53 286.25 Td (erm ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (Loan Facility contains substantially the same financial covenants as our New Credit Facility) Tj ET Q q 0 0 0 rg BT 418.14 274.25 Td (, as described below) Tj ET Q q 0 0 0 rg BT 498.58 274.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 254.25 Td (Credit Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.25 Td (On ) Tj ET Q q 0 0 0 rg BT 64.17 234.25 Td (August 1, 2013, we entered into a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.64 234.25 Td ($1.035 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.75 234.25 Td (, unsecured, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.29 234.25 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.84 234.25 Td (-year revolving credit facility \(the Credit Facility\). ) Tj ET Q q 0 0 0 rg BT 536.90 234.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.25 Td (commitments under the Credit Facility were scheduled to expire on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.60 222.25 Td (August 1, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.99 222.25 Td (. On May 19, 2016, we entered into a new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.25 Td ($1.215 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.11 210.25 Td ( \(subsequently increased to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.19 210.25 Td ($1.295 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.31 210.25 Td (\), unsecured, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.17 210.25 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.72 210.25 Td (-year revolving credit facility \(the New Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.25 Td (Facility\) with a syndicate of banks \(the Aggregate Credit Commitment\) and terminated the Credit Facility) Tj ET Q q 0 0 0 rg BT 486.45 198.25 Td (. ) Tj ET Q q 0 0 0 rg BT 491.26 198.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.25 Td (commitments under the New Credit Facility are scheduled to expire on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.31 186.25 Td (May 19, 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.14 186.25 Td (. ) Tj ET Q q 0 0 0 rg BT 396.96 186.25 Td (W) Tj ET Q q 0 0 0 rg BT 405.60 186.25 Td (e and substantially all of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.68 186.25 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.01 186.25 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.25 Td (owned home building subsidiaries are guarantors under the New Credit Facility) Tj ET Q q 0 0 0 rg BT 367.61 174.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (Under the terms of the New Credit Facility) Tj ET Q q 0 0 0 rg BT 221.25 154.25 Td (, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.97 154.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.57 154.25 Td (, our maximum leverage ratio \(as defined in the credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (agreement\) may not exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.72 142.25 Td (1.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.22 142.25 Td ( to 1.00, and we are required to maintain a minimum tangible net worth \(as defined in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (credit agreement\) of no less than approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.54 130.25 Td ($2.64 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 130.25 Td (. Under the terms of the New Credit Facility) Tj ET Q q 0 0 0 rg BT 470.90 130.25 Td (, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.62 130.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.22 130.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (our leverage ratio was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.33 118.25 Td (0.79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.83 118.25 Td ( to 1.00, and our tangible net worth was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.44 118.25 Td ($4.28 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.56 118.25 Td (. Based upon the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (minimum tangible net worth requirement in the New Credit Facility) Tj ET Q q 0 0 0 rg BT 321.24 106.25 Td (, our ability to repurchase our common stock was limited to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 94.25 Td ($2.34 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.37 94.25 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.53 94.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.13 94.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 74.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 74.25 Td (, we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.20 74.25 Td ($250.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.09 74.25 Td ( of outstanding borrowings under the New Credit Facility and had outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 62.25 Td (letters of credit of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.12 62.25 Td ($1) Tj ET Q q 0 0 0 rg BT 193.75 62.25 Td (12.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.64 62.25 Td ( under the New Credit Facility) Tj ET Q q 0 0 0 rg BT 363.90 62.25 Td (. Subsequent to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.79 62.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.39 62.25 Td (, we borrowed ) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.43 742.10 Td ($125.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.32 742.10 Td ( under the New Credit Facility) Tj ET Q q 0 0 0 rg BT 284.58 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 289.03 742.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.53 742.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.13 742.10 Td (, the interest rate on borrowings under the New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Credit Facility was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.60 730.10 Td (2.27%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.43 730.10 Td ( per annum. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 710.10 Td (Loans Payable Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 690.10 Td (Our Loans payable other primarily represent purchase money mortgages on properties we acquired that the seller had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 678.10 Td (financed and various revenue bonds that were issued by government entities on our behalf to finance community infrastructure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 666.10 Td (and our manufacturing facilities. ) Tj ET Q q 0 0 0 rg BT 182.46 666.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.96 666.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.55 666.10 Td (, the weighted-average interest rate on Loans payable other was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 654.10 Td (3.99%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.83 654.10 Td ( per annum. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 77.60 634.10 Td ( Notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 614.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 614.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 614.10 Td (, we, through ) Tj ET Q q 0 0 0 rg BT 186.19 614.10 Td (T) Tj ET Q q 0 0 0 rg BT 191.60 614.10 Td (oll Brothers Finance Corp., had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.19 614.10 Td (eight) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.18 614.10 Td ( issues of Senior Notes outstanding with an aggregate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.10 Td (principal amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.37 602.10 Td ($2.71 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.48 602.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 582.10 Td (Mortgage Company Loan Facility ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (In October 2016, ) Tj ET Q q 0 0 0 rg BT 120.36 562.10 Td (TBI Mortgage) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 177.84 566.63 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.78 562.10 Td ( Company \(TBI Mortgage\), our wholly owned mortgage subsidiary) Tj ET Q q 0 0 0 rg BT 460.68 562.10 Td (, entered into a Mortgage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 550.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 104.46 550.10 Td (Agreement \(W) Tj ET Q q 0 0 0 rg BT 167.79 550.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 213.62 550.10 Td (Agreement\) with a syndicate of banks. ) Tj ET Q q 0 0 0 rg BT 374.77 550.10 Td (The purpose of the ) Tj ET Q q 0 0 0 rg BT 452.34 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 460.98 550.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 506.81 550.10 Td (Agreement is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (to finance the origination of mortgage loans by ) Tj ET Q q 0 0 0 rg BT 240.32 538.10 Td (TBI Mortgage, and the ) Tj ET Q q 0 0 0 rg BT 334.28 538.10 Td (W) Tj ET Q q 0 0 0 rg BT 342.92 538.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 388.75 538.10 Td (Agreement is accounted for as a secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (borrowing under ) Tj ET Q q 0 0 0 rg BT 118.88 526.10 Td (ASC 860, T) Tj ET Q q 0 0 0 rg BT 171.03 526.10 Td (ransfers and Servicing. ) Tj ET Q q 0 0 0 rg BT 269.70 526.10 Td (The ) Tj ET Q q 0 0 0 rg BT 287.56 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 296.20 526.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 342.03 526.10 Td (Agreement provides for loan purchases up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.47 526.10 Td ($150 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 514.10 Td (, subject to certain sublimits. In addition, the ) Tj ET Q q 0 0 0 rg BT 259.51 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 268.15 514.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 313.97 514.10 Td (Agreement provides for an accordion feature under which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (TBI Mortgage may request that the aggregate commitments under the ) Tj ET Q q 0 0 0 rg BT 331.40 502.10 Td (W) Tj ET Q q 0 0 0 rg BT 340.03 502.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 385.86 502.10 Td (Agreement be increased to an amount up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td ($210 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 490.10 Td ( for a short period of time. ) Tj ET Q q 0 0 0 rg BT 208.96 490.10 Td (The ) Tj ET Q q 0 0 0 rg BT 226.83 490.10 Td (W) Tj ET Q q 0 0 0 rg BT 235.46 490.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 281.29 490.10 Td (Agreement expires on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.09 490.10 Td (October 27, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.80 490.10 Td (, and borrowings thereunder ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (bear interest at LIBOR plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.03 478.10 Td (2.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.86 478.10 Td ( per annum. ) Tj ET Q q 0 0 0 rg BT 238.29 478.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.79 478.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.39 478.10 Td (, the interest rate on the ) Tj ET Q q 0 0 0 rg BT 415.56 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 424.20 478.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 470.02 478.10 Td (Agreement was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.00 478.10 Td (2.78%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.83 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (per annum. ) Tj ET Q q 0 0 0 rg BT 96.93 466.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.43 466.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.03 466.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.47 466.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.18 466.10 Td (, there was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.71 466.10 Td ($57.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.61 466.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.04 466.10 Td ($210.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.94 466.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 497.60 466.10 Td (, outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (under the ) Tj ET Q q 0 0 0 rg BT 89.80 454.10 Td (W) Tj ET Q q 0 0 0 rg BT 98.44 454.10 Td (arehousing ) Tj ET Q q 0 0 0 rg BT 144.27 454.10 Td (Agreement, respectively) Tj ET Q q 0 0 0 rg BT 241.35 454.10 Td (, which are included in liabilities in our Condensed Consolidated Balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Sheets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 422.10 Td (6. ) Tj ET Q q 0 0 0 rg BT 59.45 422.10 Td (Accrued Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.10 Td (Accrued expenses at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.68 402.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.28 402.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.72 402.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.43 402.10 Td ( consisted of the following \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 367.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 367.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 367.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 367.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 341.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 341.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 341.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 341.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 315.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 315.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 315.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 315.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 289.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 289.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 289.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 289.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 263.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 263.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 263.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 263.60 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 367.6 m 500.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 367.6 m 562.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 367.6 m 500.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 367.6 m 562.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 250.60000000000002 m 500.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 250.60000000000002 m 562.5 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 238.60000000000002 m 500.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 236.60000000000002 m 500.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 238.60000000000002 m 562.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 236.60000000000002 m 562.5 236.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.95 382.17 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 372.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.35 382.17 Td (October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 372.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 358.17 Td (Land, land development, and construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 358.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 358.17 Td (131,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 358.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 358.17 Td (153,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 345.17 Td (Compensation and employee benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 345.17 Td (138,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 345.17 Td (138,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 332.17 Td (Escrow liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 332.17 Td (40,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 332.17 Td (137,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 319.17 Td (Self-insurance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 319.17 Td (124,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 319.17 Td (126,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 306.17 Td (Warranty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 306.17 Td (364,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 306.17 Td (370,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 293.17 Td (Deferred income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 293.17 Td (38,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 293.17 Td (43,488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 280.17 Td (Interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 280.17 Td (39,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 280.17 Td (34,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 267.17 Td (Commitments to unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 267.17 Td (6,411) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 267.17 Td (5,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 254.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 254.17 Td (56,938) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 254.17 Td (61,907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 241.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 241.17 Td (940,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 241.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 241.17 Td (1,072,300) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.10 Td (As previously disclosed in Note 6, Accrued Expenses in our 2016 Form 10-K, we determined that we needed to make repairs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.10 Td (in certain completed communities located in Pennsylvania and Delaware \(which are in our Mid-Atlantic region\) related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.10 Td (stucco and other water intrusion claims in older homes. Each quarter) Tj ET Q q 0 0 0 rg BT 324.23 194.10 Td (, we review and update where necessary our assumptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.10 Td (to the estimates used in determining our estimated liability for these claims. ) Tj ET Q q 0 0 0 rg BT 355.02 182.10 Td (This review and update includes an analysis to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.10 Td (determine an estimated number of claims likely to be received and the estimated costs to resolve any such claims. ) Tj ET Q q 0 0 0 rg BT 506.89 170.10 Td (This analysis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.10 Td (involves many factors including: the number of communities involved; the closing dates of the homes in each community; the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.10 Td (number of claims received to date; our inspection of homes; an estimate of the number of homes we expect to repair; the type ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.10 Td (and cost of repairs that have been performed in each community; the estimated costs to remediate pending and future claims in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.10 Td (each community; the expected recovery from our insurance carriers and others; and the amount of warranty and self-insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.10 Td (reserves already recorded. Due to the degree of judgment required and the potential for variability in the underlying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.10 Td (assumptions, it is reasonably possible that our actual costs could dif) Tj ET Q q 0 0 0 rg BT 320.61 98.10 Td (fer from those estimated, such dif) Tj ET Q q 0 0 0 rg BT 454.83 98.10 Td (ferences could be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 86.10 Td (material, and, therefore, we are unable to estimate the range of any such dif) Tj ET Q q 0 0 0 rg BT 351.35 86.10 Td (ferences. Based upon our review at January 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.10 Td (2017, we determined that no adjustments to our previous estimates were needed.) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 742.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 742.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.54 742.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.24 742.10 Td (, our estimated remaining liability to be expended for known and unknown stucco ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (and other water intrusion claims was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.40 730.10 Td ($291.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.30 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.73 730.10 Td ($298.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.63 730.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 389.29 730.10 Td (, of which we expect to recover a total of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 718.10 Td ($140.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.15 718.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 718.10 Td ($141.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.48 718.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 300.14 718.10 Td (, from outside insurance carriers and others.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 698.10 Td (e accrue for expected warranty costs at the time each home is closed and title and possession are transferred to the home ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 686.10 Td (buyer) Tj ET Q q 0 0 0 rg BT 72.22 686.10 Td (. ) Tj ET Q q 0 0 0 rg BT 77.04 686.10 Td (W) Tj ET Q q 0 0 0 rg BT 85.67 686.10 Td (arranty costs are accrued based upon historical experience. ) Tj ET Q q 0 0 0 rg BT 322.88 686.10 Td (The table below provides, for the periods indicated, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.10 Td (reconciliation of the changes in our warranty accrual \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 635.60 367.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 635.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 635.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 635.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 609.60 367.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 609.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 609.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 609.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 583.60 367.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 583.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 583.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 583.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 557.60 367.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 557.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 557.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 557.60 70.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 648.6 m 487.5 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 648.6 m 492.5 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 648.6 m 562.5 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 648.6 m 487.5 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 635.6 m 487.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 648.6 m 562.5 648.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 635.6 m 562.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 557.6 m 487.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 557.6 m 562.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 545.6 m 487.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 543.6 m 487.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 545.6 m 562.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 543.6 m 562.5 543.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 652.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.35 653.27 Td (Three months ended January 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 639.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 639.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 639.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 626.17 Td (Balance, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 626.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 626.17 Td (370,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 626.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 626.17 Td (93,083) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 613.17 Td (Additions homes closed during the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 613.17 Td (5,104) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 613.17 Td (4,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 600.17 Td (Addition Coleman liabilities acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 600.17 Td (1,111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 587.17 Td (Increase in accruals for homes closed in prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 587.17 Td (1,694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 587.17 Td (2,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 574.17 Td (Reclassification from other accruals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 574.17 Td (732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 561.17 Td (Charges incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 561.22 Td (\(15,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 561.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 561.22 Td (\(9,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 561.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 548.17 Td (Balance, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 548.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 548.17 Td (364,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 548.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 548.17 Td (90,661) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 525.10 Td (7. Income ) Tj ET Q q 0 0 0 rg BT 93.98 525.10 Td (T) Tj ET Q q 0 0 0 rg BT 99.73 525.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 505.10 Td (e recorded income tax provisions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.70 505.10 Td ($39.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.59 505.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.03 505.10 Td ($43.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.92 505.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.30 505.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.29 505.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.11 505.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.71 505.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 505.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 505.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 493.10 Td (. ) Tj ET Q q 0 0 0 rg BT 102.48 493.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 128.12 493.10 Td (fective tax rate for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.90 493.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.88 493.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.71 493.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.31 493.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.86 493.10 Td (35.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.69 493.10 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.89 493.10 Td (37.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.72 493.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.10 493.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.08 493.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 481.10 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.92 481.10 Td (. ) Tj ET Q q 0 0 0 rg BT 181.74 481.10 Td (The income tax provisions for both periods included the provision for state income taxes and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (interest accrued on anticipated tax assessments, of) Tj ET Q q 0 0 0 rg BT 250.58 469.10 Td (fset by tax benefits related to the utilization of domestic production activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (deductions and other permanent dif) Tj ET Q q 0 0 0 rg BT 191.44 457.10 Td (ferences.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 437.10 Td (e currently operate in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.37 437.10 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.37 437.10 Td ( states and are subject to various state tax jurisdictions. ) Tj ET Q q 0 0 0 rg BT 378.08 437.10 Td (W) Tj ET Q q 0 0 0 rg BT 386.72 437.10 Td (e estimate our state tax liability based upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.10 Td (the individual taxing authorities) Tj ET Q q 0 0 0 rg BT 180.06 425.10 Td ( regulations, estimates of income by taxing jurisdiction, and our ability to utilize certain tax-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 413.10 Td (saving strategies. ) Tj ET Q q 0 0 0 rg BT 121.19 413.10 Td (W) Tj ET Q q 0 0 0 rg BT 129.83 413.10 Td (e estimate our rate for the full fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.03 413.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.03 413.10 Td ( for state income taxes will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.49 413.10 Td (7.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.32 413.10 Td (. Our state income tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 401.10 Td (rate for the full fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.61 401.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.61 401.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.16 401.10 Td (7.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.99 401.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.10 Td (For state tax purposes, due to past and projected losses in certain jurisdictions where we do not have carryback potential and/or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 369.10 Td (cannot suf) Tj ET Q q 0 0 0 rg BT 91.20 369.10 Td (ficiently forecast future taxable income, we recognized net cumulative valuation allowances against our state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 357.10 Td (deferred tax assets of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.18 357.10 Td ($32.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.07 357.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.23 357.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.83 357.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.27 357.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.98 357.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 337.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 337.10 Td (, we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.20 337.10 Td ($25.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.09 337.10 Td ( of gross unrecognized tax benefits, including interest and penalties. If these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (unrecognized tax benefits were to reverse in the future, they would have a beneficial impact on our ef) Tj ET Q q 0 0 0 rg BT 455.76 325.10 Td (fective tax rate at that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (time. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.77 313.10 Td (During the next 12 months, it is reasonably possible that our unrecognized tax benefits will change, but we are not able to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (provide a range of such change.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.17 301.10 Td ( ) Tj ET Q q 0 0 0 rg BT 179.49 301.10 Td (The possible changes would be principally due to the expiration of tax statutes, settlements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.10 Td (with taxing jurisdictions, increases due to new tax positions taken, and the accrual of estimated interest and penalties.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 269.10 Td (8. Stock-Based Benefit Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 249.10 Td (e grant stock options and various types of restricted stock units to our employees and our nonemployee directors. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 99.90 237.10 Td (, we have an employee stock purchase plan that allows employees to purchase our stock at a discount. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (Information regarding the amount of total stock-based compensation expense and tax benefit recognized by us, for the periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (indicated, is as follows \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 155.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 155.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 155.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 155.60 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 168.60000000000002 m 500.5 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 168.60000000000002 m 504.5 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 168.60000000000002 m 562.5 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 155.60000000000002 m 500.5 155.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 155.60000000000002 m 562.5 155.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 184.22 Td (Three months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.95 174.22 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 159.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 159.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 146.17 Td (Total stock-based compensation expense recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 146.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 146.17 Td (9,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 146.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 146.17 Td (9,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 133.17 Td (Income tax benefit recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 133.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 133.17 Td (3,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 133.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 133.17 Td (3,555) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 110.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 110.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.54 110.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.24 110.10 Td (, the aggregate unamortized value of outstanding stock-based compensation awards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.10 Td (was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.31 98.10 Td ($43.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.20 98.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.64 98.10 Td ($27.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.53 98.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 308.19 98.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 78.10 Td (9. Stock Repur) Tj ET Q q 0 0 0 rg BT 113.43 78.10 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 149.63 78.10 Td (ogram) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (On May 23, 2016, our Board of Directors terminated a prior share repurchase program and authorized, under a new repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (program, the repurchase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.23 46.10 Td (20 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.62 46.10 Td ( shares of our common stock in open market transactions or otherwise for general ) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (corporate purposes, including to obtain shares for the Company) Tj ET Q q 0 0 0 rg BT 306.88 742.10 Td (s equity award and other employee benefit plans. ) Tj ET Q q 0 0 0 rg BT 505.25 742.10 Td (The Board of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Directors did not fix any expiration date for this repurchase program.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.10 Td (The table below provides, for the periods indicated, information about our share repurchase programs:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 661.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 661.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 661.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 661.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 635.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 635.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 635.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 635.60 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 674.6 m 500.5 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 674.6 m 504.5 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 674.6 m 562.5 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 661.6 m 500.5 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 674.6 m 562.5 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 661.6 m 562.5 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 661.6 m 562.5 661.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 678.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 689.27 Td (Three months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.95 679.27 Td (January 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 665.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 665.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 665.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 652.17 Td (Number of shares purchased \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 652.17 Td (557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 652.17 Td (4,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 639.17 Td (Average price per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 639.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 639.17 Td (27.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 639.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 639.17 Td (31.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 626.17 Td (Remaining authorization at January 31 \(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 626.17 Td (15,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 626.17 Td (13,765) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 603.10 Td (10. Income per) Tj ET Q q 0 0 0 rg BT 113.42 603.10 Td ( Shar) Tj ET Q q 0 0 0 rg BT 136.30 603.10 Td (e Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (The table below provides, for the periods indicated, information pertaining to the calculation of income per share, common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (stock equivalents, weighted-average number of antidilutive options, and shares issued \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 522.60 393.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 522.60 22.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 522.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 522.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 522.60 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 496.60 393.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 496.60 22.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 496.60 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 496.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 496.60 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 458.60 393.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 458.60 22.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 458.60 46.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 458.60 4.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 458.60 47.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 437.60 393.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 437.60 22.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 437.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 437.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 437.60 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 411.60 393.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 411.60 22.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 411.60 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 411.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 411.60 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 385.60 393.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 385.60 22.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 385.60 46.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 385.60 4.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 385.60 47.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 364.60 393.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 364.60 22.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.50 364.60 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 364.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 364.60 47.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 536.6 m 511.5 536.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 536.6 m 515.5 536.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 536.6 m 562.5 536.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 522.6 m 511.5 522.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 536.6 m 562.5 536.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 522.6 m 562.5 522.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 522.6 m 562.5 522.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 471.6 m 511.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 471.6 m 562.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 471.6 m 511.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 459.6 m 511.5 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 457.6 m 511.5 457.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 471.6 m 562.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 459.6 m 562.5 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 457.6 m 562.5 457.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 398.6 m 511.5 398.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 386.6 m 511.5 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 384.6 m 511.5 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 398.6 m 562.5 398.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 386.6 m 562.5 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 384.6 m 562.5 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 350.6 m 511.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 348.6 m 511.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 350.6 m 562.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 348.6 m 562.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 335.6 m 511.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 333.6 m 511.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 335.6 m 562.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 333.6 m 562.5 333.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 540.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 551.17 Td (Three months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.45 541.17 Td (January 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 526.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 527.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.50 527.17 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 513.33 Td (Numerator:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 500.17 Td (Net income as reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 500.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.10 500.17 Td (70,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.00 500.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 500.17 Td (73,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 486.27 Td (Plus interest and costs attributable to 0.5% Exchangeable Senior Notes, net of income tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 476.27 Td (benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.65 476.27 Td (384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 476.27 Td (389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 462.17 Td (Numerator for diluted earnings per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.00 462.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.10 462.17 Td (70,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.00 462.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 462.17 Td (73,569) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 441.33 Td (Denominator:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 428.17 Td (Basic weighted-average shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.10 428.17 Td (162,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.10 428.17 Td (174,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 415.17 Td (Common stock equivalents \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 415.17 Td (1,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 415.17 Td (2,328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 402.17 Td (Shares attributable to 0.5% Exchangeable Senior Notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 402.17 Td (5,858) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 402.17 Td (5,858) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 389.17 Td (Diluted weighted-average shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.10 389.17 Td (170,417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.10 389.17 Td (182,391) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 368.33 Td (Other information:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 354.27 Td (Weighted-average number of antidilutive options and restricted stock units \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 354.27 Td (5,204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 354.27 Td (2,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 339.27 Td (Shares issued under stock incentive and employee stock purchase plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 339.27 Td (1,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 339.27 Td (473) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 320.10 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 320.10 Td (Common stock equivalents represent the dilutive ef) Tj ET Q q 0 0 0 rg BT 291.88 320.10 Td (fect of outstanding in-the-money stock options using the treasury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 308.10 Td (stock method and shares expected to be issued under performance-based restricted stock units and nonperformance-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 296.10 Td (based restricted stock units. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 284.10 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 284.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 284.10 Td (eighted-average number of antidilutive options and restricted stock units are based upon the average closing price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 272.10 Td (our common stock on the NYSE for the period.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (1) Tj ET Q q 0 0 0 rg BT 54.45 252.10 Td (1. Fair) Tj ET Q q 0 0 0 rg BT 82.59 252.10 Td ( ) Tj ET Q q 0 0 0 rg BT 84.91 252.10 Td (V) Tj ET Q q 0 0 0 rg BT 91.22 252.10 Td (alue Disclosur) Tj ET Q q 0 0 0 rg BT 151.31 252.10 Td (es) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 232.10 Td (Financial Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.10 Td (The table below provides, as of the dates indicated, a summary of assets \(liabilities\) related to our financial instruments, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (measured at fair value on a recurring basis \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 150.60 319.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 150.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 150.60 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 150.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 150.60 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 150.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 150.60 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 124.60 319.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 124.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 124.60 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 124.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 124.60 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 124.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 124.60 60.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 174.60000000000002 m 498.5 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 174.60000000000002 m 502.5 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 174.60000000000002 m 562.5 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 150.60000000000002 m 369.5 150.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 150.60000000000002 m 434.5 150.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 150.60000000000002 m 498.5 150.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 150.60000000000002 m 562.5 150.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 178.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 179.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.85 179.27 Td (Fair value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 155.27 Td (Financial Instrument) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.85 165.17 Td (Fairvalue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.10 155.17 Td (hierarchy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.95 165.17 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 155.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.35 165.17 Td (October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 155.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 141.17 Td (Mortgage Loans Held for Sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.85 141.17 Td (Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 141.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 141.17 Td (85,765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 141.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 141.17 Td (248,601) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 128.17 Td (Forward Loan Commitments Residential Mortgage Loans Held for Sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.85 128.17 Td (Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 128.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 128.17 Td (1,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 128.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 128.17 Td (1,390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 115.17 Td (Interest Rate Lock Commitments \(IRLCs\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.85 115.17 Td (Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 115.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 115.22 Td (\(3,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 115.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 115.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 115.22 Td (\(921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 115.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 102.17 Td (Forward Loan Commitments IRLCs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.85 102.17 Td (Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 102.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 102.17 Td (3,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 102.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 102.17 Td (921) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 79.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 79.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.54 79.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.24 79.10 Td (, the carrying value of cash and cash equivalents and restricted cash and investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.10 Td (approximated fair value.) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Mortgage Loans Held for Sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (At the end of the reporting period, we determine the fair value of our mortgage loans held for sale and the forward loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.25 Td (commitments we have entered into as a hedge against the interest rate risk of our mortgage loans and commitments using the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.25 Td (market approach to determine fair value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 678.25 Td (The table below provides, as of the dates indicated, the aggregate unpaid principal and fair value of mortgage loans held for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 666.25 Td (sale \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 631.75 255.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.50 631.75 89.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 631.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 631.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 631.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 631.75 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 631.75 m 394.5 631.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 631.75 m 478.5 631.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 631.75 m 562.5 631.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305.5 631.75 m 394.5 631.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 631.75 m 478.5 631.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 631.75 m 562.5 631.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.80 646.32 Td (Aggregateunpaid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.20 636.32 Td (principal balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.85 636.42 Td (Fairvalue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 636.42 Td (Excess/\(Deficit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 622.32 Td (At January 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 622.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 622.32 Td (86,122) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 622.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 622.32 Td (85,765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 622.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 622.37 Td (\(357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 622.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 609.32 Td (At October 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 609.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 609.32 Td (246,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 609.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 609.32 Td (248,601) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 609.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 609.32 Td (1,807) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 566.25 Td (e recognize inventory impairment char) Tj ET Q q 0 0 0 rg BT 213.39 566.25 Td (ges based on the dif) Tj ET Q q 0 0 0 rg BT 292.63 566.25 Td (ference in the carrying value of the inventory and its fair value at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.25 Td (the time of the evaluation. ) Tj ET Q q 0 0 0 rg BT 157.01 554.25 Td (The fair value of the aforementioned inventory was determined using Level 3 criteria. See Note 1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 100.27 542.25 Td (Accounting Policies Inventory) Tj ET Q q 0 0 0 rg BT 229.32 542.25 Td (, in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.86 542.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.86 542.25 Td ( Form 10-K for information regarding our methodology for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.25 Td (determining fair value. ) Tj ET Q q 0 0 0 rg BT 143.67 530.25 Td (The table below summarizes, for the periods indicated, the ranges of certain quantitative unobservable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.25 Td (inputs utilized in determining the fair value of impaired operating communities:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 473.75 278.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 473.75 81.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 473.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 473.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 473.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 473.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 447.75 278.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 447.75 81.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 447.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 447.75 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 447.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 447.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 422.75 278.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 422.75 81.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 422.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 422.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 422.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 422.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 396.75 278.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 396.75 81.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 396.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 396.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 396.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 396.75 70.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 473.75 m 409.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 473.75 m 488.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 473.75 m 562.5 473.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 478.42 Td (Three months ended:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.05 498.32 Td (Selling price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.05 488.32 Td (per unit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.25 478.32 Td (\($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.50 498.32 Td (Sales pace ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.25 488.32 Td (per year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.30 478.32 Td (\(in units\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.20 478.42 Td (Discount rate) 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 53 462.9833984375 m 102.1650390625 462.9833984375 l s q 0 0 0 rg BT 53.00 464.32 Td (Fiscal 2017:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 451.32 Td (January 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.30 451.32 Td (692 - 880) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.80 451.32 Td (4 - 12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.05 451.32 Td (16.3%) 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 53 424.9833984375 m 102.1650390625 424.9833984375 l s q 0 0 0 rg BT 53.00 426.32 Td (Fiscal 2016:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 413.32 Td (January 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 413.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 413.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 413.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 400.32 Td (April 30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.30 400.32 Td (369 - 394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.30 400.32 Td (18 - 23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.05 400.32 Td (16.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 387.32 Td (July 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 387.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 387.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 387.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 374.32 Td (October 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.50 374.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.50 374.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 374.32 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 351.25 Td (The table below provides, for the periods indicated, the fair value of operating communities whose carrying value was adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 339.25 Td (and the amount of impairment char) Tj ET Q q 0 0 0 rg BT 190.61 339.25 Td (ges recognized \($ amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 256.75 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 256.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 256.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 256.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 256.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 256.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 256.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 256.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 230.75 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 230.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 230.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 230.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 230.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 230.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 230.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 230.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 204.75 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 204.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 204.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 204.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 204.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 204.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 204.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 204.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 178.75 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 178.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 178.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 178.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 178.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 178.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 178.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 178.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 152.75 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 152.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 152.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 152.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 152.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 152.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 152.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 152.75 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 311.75 m 424.5 311.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 311.75 m 428.5 311.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 311.75 m 493.5 311.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 311.75 m 497.5 311.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 311.75 m 562.5 311.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 256.75 m 355.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 256.75 m 424.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 256.75 m 493.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 256.75 m 562.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 230.75 m 562.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 218.75 m 562.5 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 216.75 m 562.5 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 152.75 m 562.5 152.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 140.75 m 562.5 140.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 138.75 m 562.5 138.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 316.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 316.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.20 316.42 Td (Impaired operating communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 261.42 Td (Three months ended:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.70 281.42 Td (Number of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 271.42 Td (communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.80 261.42 Td (tested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.70 271.42 Td (Number of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 261.42 Td (communities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.95 301.42 Td (Fair value of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.40 291.42 Td (communities,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.95 281.42 Td (net of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.45 271.42 Td (impairment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.30 261.42 Td (charges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.15 281.42 Td (Impairment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 271.42 Td (charges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.55 261.42 Td (recognized) 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 53 245.9833984375 m 102.1650390625 245.9833984375 l s q 0 0 0 rg BT 53.00 247.32 Td (Fiscal 2017:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 247.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 247.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 247.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 247.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 234.32 Td (January 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.50 234.32 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.00 234.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 234.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 234.32 Td (8,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 234.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 234.32 Td (4,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 221.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 221.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 221.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 221.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 221.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 221.32 Td (4,000) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 206.9833984375 m 102.1650390625 206.9833984375 l s q 0 0 0 rg BT 53.00 208.32 Td (Fiscal 2016:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 208.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 208.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 208.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 208.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 195.32 Td (January 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.50 195.32 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.00 195.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 195.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 195.32 Td (1,713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 195.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 195.32 Td (600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 182.32 Td (April 30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.50 182.32 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.00 182.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 182.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 182.32 Td (10,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 182.32 Td (6,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 169.32 Td (July 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.50 169.32 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.00 169.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 169.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 169.32 Td (11,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 169.32 Td (1,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 156.32 Td (October 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.50 156.32 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.00 156.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 156.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 156.32 Td (1,126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 156.32 Td (415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 143.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 143.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 143.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 143.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 143.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 143.32 Td (8,365) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (The table below provides, as of the dates indicated, the book value and estimated fair value of our debt \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 673.75 223.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 273.50 673.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 673.75 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 673.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 673.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 673.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 673.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 673.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 673.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 673.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 647.75 223.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 273.50 647.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 647.75 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 647.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 647.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 647.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 647.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 647.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 647.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 647.75 55.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 697.75 m 385.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 697.75 m 389.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 697.75 m 444.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 697.75 m 503.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 697.75 m 507.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 697.75 m 562.5 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 273.5 673.75 m 325.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 673.75 m 385.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 673.75 m 444.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 673.75 m 503.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 673.75 m 562.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 673.75 m 385.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 673.75 m 444.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 673.75 m 503.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 673.75 m 562.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 634.75 m 385.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 634.75 m 444.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 634.75 m 503.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 634.75 m 562.5 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 622.75 m 385.5 622.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 620.75 m 385.5 620.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 622.75 m 444.5 622.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 620.75 m 444.5 620.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 622.75 m 503.5 622.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 620.75 m 503.5 620.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 622.75 m 562.5 622.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 620.75 m 562.5 620.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 702.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.70 702.32 Td (January 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.10 702.32 Td (October 31, 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 678.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.85 688.32 Td (Fairvalue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.10 678.32 Td (hierarchy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.55 678.42 Td (Book value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 688.32 Td (Estimated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.45 678.32 Td (fair value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.55 678.42 Td (Book value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.50 688.32 Td (Estimated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.45 678.32 Td (fair value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 664.32 Td (Loans payable \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.85 664.32 Td (Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 664.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 664.32 Td (881,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 664.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 664.32 Td (879,581) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 664.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 664.32 Td (872,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 664.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 664.32 Td (870,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 651.32 Td (Senior notes \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.85 651.32 Td (Level 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.60 651.32 Td (2,707,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.60 651.32 Td (2,814,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.60 651.32 Td (2,707,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 651.32 Td (2,843,177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 638.32 Td (Mortgage company loan facility \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.85 638.32 Td (Level 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 638.32 Td (57,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 638.32 Td (57,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 638.32 Td (210,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 638.32 Td (210,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 625.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.60 625.32 Td (3,645,953) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 625.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.60 625.32 Td (3,751,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 625.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.60 625.32 Td (3,790,185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 625.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 625.32 Td (3,923,561) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 607.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 607.25 Td (The estimated fair value of loans payable was based upon contractual cash flows discounted at interest rates that we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 595.25 Td (believed were available to us for loans with similar terms and remaining maturities as of the applicable valuation date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 583.25 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 583.25 Td (The estimated fair value of our senior notes is based upon their market prices as of the applicable valuation date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 571.25 Td (\(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 571.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 571.25 Td (e believe that the carrying value of our mortgage company loan borrowings approximates their fair value.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (12. Other) Tj ET Q q 0 0 0 rg BT 90.37 550.25 Td ( Income Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.25 Td (The table below provides the significant components of other income net \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 479.75 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 479.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 479.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 479.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 449.75 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 449.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 449.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 449.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 419.75 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 419.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 419.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 419.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 389.75 392.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 389.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 389.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 389.75 58.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 494.75 m 499.5 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 494.75 m 503.5 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 494.75 m 561.5 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 494.75 m 499.5 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 479.75 m 499.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 494.75 m 503.5 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 494.75 m 561.5 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 479.75 m 561.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 479.75 m 499.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 374.75 m 499.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 374.75 m 499.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 360.75 m 499.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 358.75 m 499.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 374.75 m 561.5 374.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 360.75 m 561.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 358.75 m 561.5 358.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 509.42 Td (Three months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.95 499.42 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.00 484.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 484.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 469.42 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 469.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 469.42 Td (941) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 469.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 469.42 Td (404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 454.42 Td (Income from ancillary businesses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 454.42 Td (2,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 454.42 Td (3,729) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 439.42 Td (Gibraltar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.30 439.47 Td (\(62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 439.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 439.42 Td (828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 424.42 Td (Management fee income from unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 424.42 Td (4,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 424.42 Td (2,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 409.42 Td (Retained customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 409.42 Td (1,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 409.42 Td (2,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 394.42 Td (Income from land sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 394.42 Td (3,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 394.42 Td (3,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 379.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.30 379.47 Td (\(67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 379.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 379.42 Td (541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 364.42 Td (Total other income net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 364.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 364.42 Td (12,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 364.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 364.42 Td (13,720) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 50.00 347.18 25.55 -9.09 re f /GS0 gs q 0 0 0 rg BT 50.00 340.25 Td (In the ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 75.55 347.18 19.99 -9.09 re f /GS0 gs q 0 0 0 rg BT 75.55 340.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 95.53 347.18 60.83 -9.09 re f /GS0 gs q 0 0 0 rg BT 95.53 340.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.36 340.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 224.96 347.18 222.17 -9.09 re f /GS0 gs q 0 0 0 rg BT 224.96 340.25 Td (, our security monitoring business recognized a gain of ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 447.12 347.18 48.89 -9.09 re f /GS0 gs q 0 0 0 rg BT 447.12 340.25 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 496.02 347.18 2.50 -9.09 re f /GS0 gs q 0 0 0 rg BT 496.02 340.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.52 340.25 Td (from a bulk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (sale of security monitoring accounts in fiscal 2015, which is included in income from ancillary businesses in the table above. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.25 Td (Income from ancillary businesses includes our mortgage, title, landscaping, security monitoring, and golf course and country ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.25 Td (club operations. ) Tj ET Q q 0 0 0 rg BT 116.19 296.25 Td (The table below provides, for the periods indicated, revenues and expenses for our ancillary businesses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 284.25 Td (\(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 235.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 235.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 235.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 235.75 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 248.75 m 500.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 248.75 m 504.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 248.75 m 562.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 248.75 m 500.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 235.75 m 500.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 248.75 m 504.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 248.75 m 562.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 235.75 m 562.5 235.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 253.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 263.42 Td (Three months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.95 253.42 Td (January 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 240.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 239.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 239.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 226.32 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 226.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 226.32 Td (28,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 226.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 226.32 Td (24,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 213.32 Td (Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 213.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 213.32 Td (26,231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 213.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 213.32 Td (21,140) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (The table below provides, for the periods indicated, revenues and expenses recognized from land sales \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 141.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 141.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 141.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 141.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 115.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 115.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 115.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 115.75 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 154.75 m 500.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 154.75 m 504.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 154.75 m 562.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 154.75 m 500.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 141.75 m 500.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 154.75 m 504.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 154.75 m 562.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 141.75 m 562.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 141.75 m 500.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 141.75 m 562.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 102.75 m 500.5 102.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 102.75 m 562.5 102.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 90.75 m 500.5 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 88.75 m 500.5 88.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 90.75 m 562.5 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 88.75 m 562.5 88.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 159.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 169.42 Td (Three months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.95 159.42 Td (January 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 146.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 145.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 145.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 132.32 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 132.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 132.32 Td (144,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 132.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 132.32 Td (10,691) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 119.32 Td (Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.80 119.37 Td (\(144,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 119.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 119.37 Td (\(6,693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 119.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 106.32 Td (Deferred gain recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 106.32 Td (3,118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 106.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 93.32 Td (Income from land sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 93.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 93.32 Td (3,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 93.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 93.32 Td (3,998) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (Land sale revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.01 70.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.99 70.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 238.82 77.18 68.60 -9.09 re f /GS0 gs q 0 0 0 rg BT 238.82 70.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.42 70.25 Td ( includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.74 70.25 Td ($143.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.63 70.25 Td ( related to an in substance real estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (sale transaction which resulted in a new Home Building Joint ) Tj ET Q q 0 0 0 rg BT 298.10 58.25 Td (V) Tj ET Q q 0 0 0 rg BT 304.21 58.25 Td (enture in which we have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.39 58.25 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.72 58.25 Td ( interest. No gain or loss was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (realized on the sale. See Note 3, Investments in Unconsolidated Entities, for more information on this transaction.) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (13. Commitments and Contingencies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 702.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 702.25 Td (e are involved in various claims and litigation arising principally in the ordinary course of business. ) Tj ET Q q 0 0 0 rg BT 459.19 702.25 Td (W) Tj ET Q q 0 0 0 rg BT 467.83 702.25 Td (e believe that adequate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 690.25 Td (provision for resolution of all current claims and pending litigation has been made for probable losses. ) Tj ET Q q 0 0 0 rg BT 461.66 690.25 Td (W) Tj ET Q q 0 0 0 rg BT 470.30 690.25 Td (e believe that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 678.25 Td (disposition of these matters will not have a material adverse ef) Tj ET Q q 0 0 0 rg BT 299.74 678.25 Td (fect on our results of operations and liquidity or on our financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 666.25 Td (condition.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (Investments in Unconsolidated Entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 626.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 626.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 626.25 Td (, we had investments in a number of unconsolidated entities, were committed to invest or advance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 614.25 Td (additional funds, and had guaranteed a portion of the indebtedness and/or loan commitments of these entities. See Note 3, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.25 Td (Investments in Unconsolidated Entities, for more information regarding our commitments to these entities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 582.25 Td (Land Purchase Commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (Generally) Tj ET Q q 0 0 0 rg BT 88.77 562.25 Td (, our purchase agreements to acquire land parcels do not require us to purchase those land parcels, although we, in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (some cases, forfeit any deposit balance outstanding if and when we terminate a purchase agreement. Information regarding our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (land purchase commitments, as of the dates indicated, is provided in the table below \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 503.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 503.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 503.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 503.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 477.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 477.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 477.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 477.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 451.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 451.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 451.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 451.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 425.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 425.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 425.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 425.75 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 503.75 m 500.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 503.75 m 562.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 503.75 m 562.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 464.75 m 500.5 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 464.75 m 562.5 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 452.75 m 500.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 450.75 m 500.5 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 452.75 m 562.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 450.75 m 562.5 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 450.75 m 500.5 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 452.75 m 500.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 450.75 m 562.5 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 452.75 m 562.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 425.75 m 500.5 425.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 425.75 m 562.5 425.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 413.75 m 500.5 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 411.75 m 500.5 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 413.75 m 562.5 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 411.75 m 562.5 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 400.75 m 500.5 400.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 398.75 m 500.5 398.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 411.75 m 562.5 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 413.75 m 562.5 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 400.75 m 562.5 400.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 398.75 m 562.5 398.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.95 518.32 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 508.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.35 518.32 Td (October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 508.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 494.32 Td (Aggregate purchase commitments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 481.32 Td (Unrelated parties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 481.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 481.32 Td (1,388,618) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 481.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 481.32 Td (1,544,185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 468.32 Td (Unconsolidated entities that the Company has investments in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 468.32 Td (54,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 468.32 Td (79,204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 455.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 455.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 455.32 Td (1,442,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 455.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 455.32 Td (1,623,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 442.32 Td (Deposits against aggregate purchase commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 442.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 442.32 Td (70,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 442.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 442.32 Td (65,299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 429.32 Td (Additional cash required to acquire land) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 429.32 Td (1,372,342) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 429.32 Td (1,558,090) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 416.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 416.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 416.32 Td (1,442,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 416.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 416.32 Td (1,623,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 403.32 Td (Amount of additional cash required to acquire land included in accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 403.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 403.32 Td (16,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 403.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 403.32 Td (18,266) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 380.25 Td (In addition, we expect to purchase approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.93 380.25 Td (3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.43 380.25 Td ( additional home sites over a number of years from several joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 368.25 Td (ventures in which we have interests; the purchase prices of these home sites will be determined at a future date. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 348.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 348.25 Td (, we also had purchase commitments to acquire land for apartment developments of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.47 348.25 Td ($84.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 336.25 Td (, of which we had outstanding deposits in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.52 336.25 Td ($4.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.41 336.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 314.25 Td (e have additional land parcels under option that have been excluded from the aforementioned aggregate purchase amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.25 Td (since we do not believe that we will complete the purchase of these land parcels and no additional funds will be required from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.25 Td (us to terminate these contracts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 270.25 Td (Surety Bonds and Letters of Credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 250.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 250.25 Td (, we had outstanding surety bonds amounting to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.24 250.25 Td ($667.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.14 250.25 Td (, primarily related to our obligations to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (governmental entities to construct improvements in our communities. ) Tj ET Q q 0 0 0 rg BT 330.60 238.25 Td (W) Tj ET Q q 0 0 0 rg BT 339.23 238.25 Td (e estimate that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.49 238.25 Td ($345.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.38 238.25 Td ( of work remains on these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (improvements. ) Tj ET Q q 0 0 0 rg BT 112.03 226.25 Td (W) Tj ET Q q 0 0 0 rg BT 120.67 226.25 Td (e have an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.41 226.25 Td ($137.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.30 226.25 Td ( of surety bonds outstanding that guarantee other obligations. ) Tj ET Q q 0 0 0 rg BT 509.30 226.25 Td (W) Tj ET Q q 0 0 0 rg BT 517.93 226.25 Td (e do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (believe that it is probable that any outstanding bonds will be drawn upon.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 194.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 194.25 Td (, we had outstanding letters of credit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.22 194.25 Td ($1) Tj ET Q q 0 0 0 rg BT 299.85 194.25 Td (12.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.74 194.25 Td ( under our New Credit Facility) Tj ET Q q 0 0 0 rg BT 471.12 194.25 Td (. ) Tj ET Q q 0 0 0 rg BT 475.94 194.25 Td (These letters of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.25 Td (credit were issued to secure our various financial obligations, including insurance policy deductibles and other claims, land ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.25 Td (deposits, and security to complete improvements in communities in which we are operating. ) Tj ET Q q 0 0 0 rg BT 421.12 170.25 Td (W) Tj ET Q q 0 0 0 rg BT 429.76 170.25 Td (e do not believe that it is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.25 Td (probable that any outstanding letters of credit will be drawn upon.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 138.25 Td (Backlog) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 118.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 118.25 Td (, we had agreements of sale outstanding to deliver ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.81 118.25 Td (5,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.31 118.25 Td ( homes with an aggregate sales value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.92 118.25 Td ($4.35 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.11 106.25 Td (. ) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Mortgage Commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (Information regarding our mortgage commitments, as of the dates indicated, is provided in the table below \(amounts in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.25 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 675.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 675.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 675.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 675.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 649.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 649.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 649.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 649.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 623.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 623.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 623.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 623.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 597.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 597.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 597.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 597.75 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 675.75 m 500.5 675.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 675.75 m 562.5 675.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 636.75 m 500.5 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 636.75 m 562.5 636.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 624.75 m 500.5 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 622.75 m 500.5 622.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 624.75 m 562.5 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 622.75 m 562.5 622.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 584.75 m 500.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 584.75 m 562.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 572.75 m 500.5 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 570.75 m 500.5 570.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 572.75 m 562.5 572.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 570.75 m 562.5 570.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.95 690.32 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 680.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.35 690.32 Td (October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 680.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 666.32 Td (Aggregate mortgage loan commitments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 653.32 Td (IRLCs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 653.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 653.32 Td (352,279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 653.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 653.32 Td (255,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 640.32 Td (Non-IRLCs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 640.32 Td (1,178,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 640.32 Td (1,094,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 627.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 627.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 627.32 Td (1,531,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 627.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 627.32 Td (1,350,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 614.32 Td (Investor commitments to purchase:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 601.32 Td (IRLCs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 601.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 601.32 Td (352,279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 601.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 601.32 Td (255,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 588.32 Td (Mortgage loans receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 588.32 Td (71,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 588.32 Td (231,398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 575.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 575.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 575.32 Td (423,947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 575.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 575.32 Td (487,045) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 552.25 Td (14. Information on Segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 532.25 Td (e operate in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.78 532.25 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.78 532.25 Td ( segments: ) Tj ET Q q 0 0 0 rg BT 167.59 532.25 Td (T) Tj ET Q q 0 0 0 rg BT 173.35 532.25 Td (raditional Home Building and Urban Infill. ) Tj ET Q q 0 0 0 rg BT 347.86 532.25 Td (W) Tj ET Q q 0 0 0 rg BT 356.49 532.25 Td (e build and sell detached and attached homes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (luxury residential communities located in af) Tj ET Q q 0 0 0 rg BT 226.16 520.25 Td (fluent suburban markets that cater to move-up, empty-nester) Tj ET Q q 0 0 0 rg BT 467.34 520.25 Td (, active-adult, age-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (qualified, and second-home buyers in the United States \(T) Tj ET Q q 0 0 0 rg BT 287.08 508.25 Td (raditional Home Building\). ) Tj ET Q q 0 0 0 rg BT 402.43 508.25 Td (W) Tj ET Q q 0 0 0 rg BT 411.07 508.25 Td (e also build and sell homes in urban ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (infill markets through ) Tj ET Q q 0 0 0 rg BT 139.53 496.25 Td (T) Tj ET Q q 0 0 0 rg BT 144.94 496.25 Td (oll Brothers City Living) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 241.32 500.78 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.26 496.25 Td ( \(City Living\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 474.25 Td (e have determined that our ) Tj ET Q q 0 0 0 rg BT 167.58 474.25 Td (T) Tj ET Q q 0 0 0 rg BT 173.33 474.25 Td (raditional Home Building operations operate in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.96 474.25 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 474.25 Td ( geographic segments: North, Mid-Atlantic, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.25 Td (South, ) Tj ET Q q 0 0 0 rg BT 78.16 462.25 Td (W) Tj ET Q q 0 0 0 rg BT 86.80 462.25 Td (est, and California. ) Tj ET Q q 0 0 0 rg BT 165.21 462.25 Td (The states comprising each geographic segment are as follows:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 442.25 Td (North:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.67 442.25 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 442.25 Td (Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey) Tj ET Q q 0 0 0 rg BT 443.69 442.25 Td (, and New ) Tj ET Q q 0 0 0 rg BT 486.64 442.25 Td (Y) Tj ET Q q 0 0 0 rg BT 492.86 442.25 Td (ork) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 422.25 Td (Mid-Atlantic:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.43 422.25 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 422.25 Td (Delaware, Maryland, Pennsylvania, and ) Tj ET Q q 0 0 0 rg BT 320.27 422.25 Td (V) Tj ET Q q 0 0 0 rg BT 326.89 422.25 Td (ir) Tj ET Q q 0 0 0 rg BT 332.81 422.25 Td (ginia) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 402.25 Td (South:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.11 402.25 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 402.25 Td (Florida, North Carolina, and ) Tj ET Q q 0 0 0 rg BT 273.91 402.25 Td (T) Tj ET Q q 0 0 0 rg BT 279.32 402.25 Td (exas) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 382.25 Td (W) Tj ET Q q 0 0 0 rg BT 93.41 382.25 Td (est:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.85 382.25 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 382.25 Td (Arizona, Colorado, Idaho, Nevada, and ) Tj ET Q q 0 0 0 rg BT 317.49 382.25 Td (W) Tj ET Q q 0 0 0 rg BT 326.13 382.25 Td (ashington) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 362.25 Td (California:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.00 362.25 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 362.25 Td (California) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Revenue and income \(loss\) before income taxes for each of our segments, for the periods indicated, were as follows \(amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 681.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 681.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 681.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 681.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 655.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 655.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 655.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 655.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 629.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 629.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 629.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 629.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 603.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 603.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 603.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 603.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 577.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 577.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 577.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 577.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 551.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 551.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 551.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 551.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 525.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 525.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 525.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 525.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 499.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 499.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 499.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 499.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 473.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 473.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 473.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 473.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 447.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 447.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 447.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 447.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 421.60 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 421.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 421.60 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 421.60 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 694.6 m 499.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 694.6 m 562.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 694.6 m 499.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 681.6 m 499.5 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 694.6 m 504.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 694.6 m 562.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 681.6 m 562.5 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 590.6 m 499.5 590.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 590.6 m 562.5 590.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 590.6 m 562.5 590.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 564.6 m 499.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 564.6 m 562.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 564.6 m 499.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 552.6 m 499.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 550.6 m 499.5 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 564.6 m 562.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 552.6 m 562.5 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 550.6 m 562.5 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 447.6 m 499.5 447.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 447.6 m 562.5 447.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 408.6 m 499.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 408.6 m 504.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 408.6 m 562.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 408.6 m 499.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 396.6 m 499.5 396.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 394.6 m 499.5 394.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 408.6 m 562.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 396.6 m 562.5 396.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 394.6 m 562.5 394.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 698.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 709.27 Td (Three months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.45 699.27 Td (January 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 685.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.00 685.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 685.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 672.17 Td (Revenues:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 659.17 Td (Traditional Home Building:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 646.17 Td (North) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 646.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 646.17 Td (145,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 646.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 646.17 Td (120,818) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 633.17 Td (Mid-Atlantic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 633.17 Td (184,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 633.17 Td (169,808) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 620.17 Td (South) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 620.17 Td (142,196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 620.17 Td (146,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 607.17 Td (West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 607.17 Td (211,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 607.17 Td (137,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 594.17 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 594.17 Td (219,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 594.17 Td (216,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 581.17 Td (Traditional Home Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 581.17 Td (902,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 581.17 Td (791,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 568.17 Td (City Living) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 568.17 Td (17,936) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 568.17 Td (136,981) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 555.17 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 555.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 555.17 Td (920,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 555.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 555.17 Td (928,566) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 529.17 Td (Income \(loss\) before income taxes:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 516.17 Td (Traditional Home Building:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 503.17 Td (North) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 503.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 503.17 Td (10,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 503.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 503.17 Td (8,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 490.17 Td (Mid-Atlantic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 490.17 Td (11,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 490.17 Td (16,983) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 477.17 Td (South) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 477.17 Td (13,111) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 477.17 Td (21,245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 464.17 Td (West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 464.17 Td (25,497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 464.17 Td (19,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 451.17 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 451.17 Td (43,193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 451.17 Td (43,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 438.17 Td (Traditional Home Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 438.17 Td (103,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 438.17 Td (109,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 425.17 Td (City Living) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 425.17 Td (43,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 425.17 Td (43,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 412.17 Td (Corporate and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.80 412.22 Td (\(36,847) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 412.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 412.22 Td (\(36,348) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 412.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 399.17 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 399.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 399.17 Td (109,781) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 399.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 399.17 Td (116,817) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (Corporate and other is comprised principally of general corporate expenses such as the of) Tj ET Q q 0 0 0 rg BT 416.63 376.10 Td (fices of our executive of) Tj ET Q q 0 0 0 rg BT 513.62 376.10 Td (ficers; the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (corporate finance, accounting, audit, tax, human resources, risk management, information technology) Tj ET Q q 0 0 0 rg BT 455.32 364.10 Td (, marketing, and legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (groups; interest income; income from certain of our ancillary businesses, including Gibraltar; and income from a number of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (unconsolidated entities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 320.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 320.10 Td (otal assets for each of our segments, as of the dates indicated, are shown in the table below \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 285.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 285.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 285.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 285.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 259.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 259.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 259.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 259.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 233.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 233.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 233.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 233.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 207.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 207.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 207.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 207.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 181.60 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 181.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 181.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 181.60 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 285.6 m 500.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 285.6 m 562.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 285.6 m 500.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 285.6 m 562.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 207.60000000000002 m 500.5 207.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 207.60000000000002 m 500.5 207.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 207.60000000000002 m 562.5 207.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 168.60000000000002 m 500.5 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 156.60000000000002 m 500.5 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 154.60000000000002 m 500.5 154.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 168.60000000000002 m 562.5 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 156.60000000000002 m 562.5 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 154.60000000000002 m 562.5 154.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.95 300.17 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 290.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.35 300.17 Td (October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 290.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 276.17 Td (Traditional Home Building:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 263.17 Td (North) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 263.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 263.17 Td (1,071,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 263.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 263.17 Td (1,020,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 250.17 Td (Mid-Atlantic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 250.17 Td (1,182,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 250.17 Td (1,166,023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 237.17 Td (South) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 237.17 Td (1,257,109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 237.17 Td (1,203,554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 224.17 Td (West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 224.17 Td (1,250,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 224.17 Td (1,130,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 211.17 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 211.17 Td (2,625,956) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 211.17 Td (2,479,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 198.17 Td (Traditional Home Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 198.17 Td (7,387,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 198.17 Td (7,000,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 185.17 Td (City Living) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 185.17 Td (824,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 185.17 Td (946,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 172.17 Td (Corporate and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 172.17 Td (1,305,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 172.17 Td (1,789,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 159.17 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 159.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.60 159.17 Td (9,516,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 159.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 159.17 Td (9,736,789) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (Corporate and other is comprised principally of cash and cash equivalents, restricted cash and investments, deferred tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (assets, investments in our Rental Property Joint ) Tj ET Q q 0 0 0 rg BT 242.02 124.10 Td (V) Tj ET Q q 0 0 0 rg BT 248.13 124.10 Td (entures, expected recoveries from insurance carriers and suppliers, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (Gibraltar investments, manufacturing facilities, and our mortgage and title subsidiaries.) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (15. Supplemental Disclosur) Tj ET Q q 0 0 0 rg BT 166.22 742.25 Td (e to Condensed Consolidated Statements of Cash Flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (The following are supplemental disclosures to the Condensed Consolidated Statements of Cash Flows, for the periods indicated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.25 Td (\(amounts in thousands\):) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.10 710.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 648.75 380.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 648.75 19.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 648.75 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 648.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 648.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 622.75 380.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 622.75 19.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 622.75 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 622.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 622.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 596.75 380.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 596.75 19.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 596.75 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 596.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 596.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 558.75 380.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 558.75 19.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 558.75 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 558.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 558.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 520.75 380.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 520.75 19.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 520.75 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 520.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 520.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 492.75 380.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 492.75 19.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 492.75 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 492.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 462.75 380.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 462.75 19.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 462.75 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 462.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 462.75 55.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 674.75 m 503.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 674.75 m 507.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 674.75 m 562.5 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 661.75 m 503.5 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 661.75 m 562.5 661.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 689.42 Td (Three months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.45 679.42 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 665.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.50 665.32 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 652.48 Td (Cash flow information:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 639.32 Td (Interest capitalized, net of amount paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 639.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 639.32 Td (419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 639.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 639.32 Td (8,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 626.32 Td (Income tax payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 626.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 626.32 Td (80,070) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 626.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 626.32 Td (38,781) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 613.32 Td (Income tax refunds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 613.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 613.32 Td (911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 613.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 613.32 Td (1,874) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 600.48 Td (Noncash activity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 587.32 Td (Cost of inventory acquired through seller financing or municipal bonds, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 587.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 587.32 Td (18,011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 587.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 587.32 Td (10,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 574.32 Td (Reduction in inventory for our share of earnings in land purchased from unconsolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 564.32 Td (entities and allocation of basis difference) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 563.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 563.42 Td (3,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 563.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 563.42 Td (160) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 549.32 Td (Defined benefit plan amendment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 549.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 549.32 Td (757) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 536.32 Td (Deferred tax decrease related to stock-based compensation activity included in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 526.32 Td (additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 525.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 525.42 Td (4,935) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 525.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 525.42 Td (3,249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 511.32 Td (Transfer of inventory to investment in unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 511.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 511.32 Td (36,256) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 498.48 Td (Acquisition of a Business:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 483.32 Td (Fair value of assets purchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 482.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 482.42 Td (90,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 468.32 Td (Liabilities assumed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 467.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 467.42 Td (5,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 453.32 Td (Cash paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 452.42 Td (85,183) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (16. Supplemental Guarantor) Tj ET Q q 0 0 0 rg BT 172.33 742.25 Td ( Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 722.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 722.25 Td (, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.93 722.25 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.26 722.25 Td (-owned subsidiary) Tj ET Q q 0 0 0 rg BT 248.21 722.25 Td (, ) Tj ET Q q 0 0 0 rg BT 253.03 722.25 Td (T) Tj ET Q q 0 0 0 rg BT 258.44 722.25 Td (oll Brothers Finance Corp. \(the Subsidiary Issuer\), has issued the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.25 Td (following outstanding Senior Notes \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 644.75 430.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 644.75 6.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 644.75 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 618.75 430.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 618.75 6.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 618.75 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 592.75 430.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 592.75 6.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 592.75 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 566.75 430.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 566.75 6.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 566.75 71.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 657.75 m 562 657.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.30 690.32 Td (Original) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.25 680.32 Td (amount issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.50 670.32 Td (and amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 660.37 Td (outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 648.32 Td (8.91% Senior Notes due 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.50 648.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 648.32 Td (400,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 635.32 Td (4.0% Senior Notes due 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.50 635.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 635.32 Td (350,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 622.32 Td (6.75% Senior Notes due 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.50 622.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 622.32 Td (250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 609.32 Td (5.875% Senior Notes due 2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.50 609.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 609.32 Td (419,876) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 596.32 Td (4.375% Senior Notes due 2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.50 596.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 596.32 Td (400,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 583.32 Td (5.625% Senior Notes due 2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.50 583.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 583.32 Td (250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 570.32 Td (4.875% Senior Notes due 2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.50 570.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 570.32 Td (350,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 557.32 Td (0.5% Exchangeable Senior Notes due 2032) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.50 557.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 557.32 Td (287,500) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 534.25 Td (The obligations of the Subsidiary Issuer to pay principal, premiums, if any) Tj ET Q q 0 0 0 rg BT 347.35 534.25 Td (, and interest are guaranteed jointly and severally on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 522.25 Td (a senior basis by us and substantially all of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.41 522.25 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.74 522.25 Td (-owned home building subsidiaries \(the Guarantor Subsidiaries\). ) Tj ET Q q 0 0 0 rg BT 532.50 522.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 510.25 Td (guarantees are full and unconditional. Our non-home building subsidiaries and several of our home building subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.25 Td (\(together) Tj ET Q q 0 0 0 rg BT 85.69 498.25 Td (, the Nonguarantor Subsidiaries\) do not guarantee these Senior Notes. ) Tj ET Q q 0 0 0 rg BT 375.99 498.25 Td (The Subsidiary Issuer generates no operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.25 Td (revenues and does not have any independent operations other than the financing of our other subsidiaries by lending the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.25 Td (proceeds from the above-described debt issuances. ) Tj ET Q q 0 0 0 rg BT 255.02 474.25 Td (The indentures under which the Senior Notes were issued provide that any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.25 Td (of our subsidiaries that provide a guarantee of our obligations under the New Credit Facility will guarantee the Senior Notes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.25 Td (The indentures further provide that any Guarantor Subsidiary may be released from its guarantee so long as \(i\) no default or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.25 Td (event of default exists or would result from release of such guarantee; \(ii\) the Guarantor Subsidiary being released has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.25 Td (consolidated net worth of less than 5% of the Company) Tj ET Q q 0 0 0 rg BT 274.68 426.25 Td (s consolidated net worth as of the end of our most recent fiscal quarter; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.25 Td (\(iii\) the Guarantor Subsidiaries released from their guarantees in any fiscal year comprise in the aggregate less than 10% \(or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.25 Td (15% if and to the extent necessary to permit the cure of a default\) of our consolidated net worth as of the end of our most recent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.25 Td (fiscal quarter; \(iv\) such release would not have a material adverse ef) Tj ET Q q 0 0 0 rg BT 322.75 390.25 Td (fect on our and our subsidiaries) Tj ET Q q 0 0 0 rg BT 451.14 390.25 Td ( home building business; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.25 Td (and \(v\) the Guarantor Subsidiary is released from its guaranty under the New Credit Facility) Tj ET Q q 0 0 0 rg BT 418.69 378.25 Td (. If there are no guarantors under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.25 Td (the New Credit Facility) Tj ET Q q 0 0 0 rg BT 143.50 366.25 Td (, all Guarantor Subsidiaries under the indentures will be released from their guarantees. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (During the preparation of this Form 10-Q, we identified an immaterial revision that was necessary to certain columns in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (consolidating statements for the year ended October 31, 2016. ) Tj ET Q q 0 0 0 rg BT 300.58 334.25 Td (The revision impacted the Guarantor and Nonguarantor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (Subsidiaries columns in the Consolidating Statement of Operations and Comprehensive Income for the year ended October 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (2016 and the Nonguarantor Subsidiaries and Eliminations columns in the Condensed Consolidating Balance Sheet as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (October 31, 2016, by of) Tj ET Q q 0 0 0 rg BT 145.36 298.25 Td (fsetting amounts. Corresponding changes to the Consolidating Statement of Cash Flows for the year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (ended October 31, 2016 were also made. ) Tj ET Q q 0 0 0 rg BT 215.60 286.25 Td (The revision had no impact on any consolidated totals of such consolidating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 257.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 99.34 257.25 Td (, the Consolidating Statements of Operations and Comprehensive Income and of Cash Flows for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 245.25 Td (October 31, 2016 and the Condensed Consolidating Balance Sheet as of October 31, 2016 have been revised to reflect the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 233.25 Td (immaterial adjustment described above and are included hereunder) Tj ET Q q 0 0 0 rg BT 317.39 233.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.25 Td (Separate financial statements and other disclosures concerning the Guarantor Subsidiaries are not presented because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.25 Td (management has determined that such disclosures would not be material to investors. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.25 Td (Supplemental consolidating financial information of ) Tj ET Q q 0 0 0 rg BT 261.71 181.25 Td (T) Tj ET Q q 0 0 0 rg BT 267.12 181.25 Td (oll Brothers, Inc., the Subsidiary Issuer) Tj ET Q q 0 0 0 rg BT 423.36 181.25 Td (, the Guarantor Subsidiaries, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.25 Td (Nonguarantor Subsidiaries, and the eliminations to arrive at ) Tj ET Q q 0 0 0 rg BT 291.15 169.25 Td (T) Tj ET Q q 0 0 0 rg BT 296.56 169.25 Td (oll Brothers, Inc. on a consolidated basis is presented below \($ ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.25 Td (amounts in thousands\).) 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0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 702.75 m 400.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 702.75 m 455.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 702.75 m 509.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 702.75 m 562.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 546.75 m 292.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 546.75 m 455.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 546.75 m 562.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 546.75 m 292.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 534.75 m 292.5 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 532.75 m 292.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 546.75 m 346.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 534.75 m 346.5 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 532.75 m 346.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 546.75 m 400.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 534.75 m 400.5 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 532.75 m 400.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 546.75 m 455.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 534.75 m 455.5 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 532.75 m 455.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 546.75 m 509.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 534.75 m 509.5 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 532.75 m 509.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 546.75 m 562.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 534.75 m 562.5 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 532.75 m 562.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 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i [] 0 d 0 J 0 j 3 M 459.5 248.75 m 509.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 246.75 m 509.5 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 248.75 m 562.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 246.75 m 562.5 246.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.60 723.00 Td (T) Tj ET Q q 0 0 0 rg BT 264.93 723.00 Td (oll) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.20 715.00 Td (Brothers,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.85 707.00 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.85 715.00 Td (Subsidiary) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.40 707.00 Td (Issuer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.75 715.00 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.40 707.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.25 715.00 Td (Nonguarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.90 707.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.55 707.00 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.35 707.00 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 694.00 Td (ASSETS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 694.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 694.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 694.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 694.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 694.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 681.00 Td (Cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.8 0.9333333333333333 1 rg BT 281.30 681.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0.8 0.9333333333333333 1 rg BT 335.30 681.00 Td () 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 371.25 681.00 Td (280,504) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 681.00 Td (92,965) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.8 0.9333333333333333 1 rg BT 498.30 681.00 Td () 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 533.25 681.00 Td (373,469) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 668.00 Td (Restricted cash and investments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 668.00 Td (11,796) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.30 668.00 Td (649) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 668.00 Td (12,445) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 655.00 Td (Inventory) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 655.00 Td (7,244,287) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 655.00 Td (295,687) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 655.00 Td (7,539,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 642.00 Td (Property, construction and office equipment, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 642.00 Td (156,691) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 642.00 Td (15,768) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 642.00 Td (172,459) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 629.00 Td (Receivables, prepaid expenses and other assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.30 629.00 Td (17) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 629.00 Td (353,100) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 629.00 Td (200,837) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 629.00 Td (\(40,980) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 629.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 629.00 Td (512,974) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 616.00 Td (Mortgage loans held for sale) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 616.00 Td (85,765) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 616.00 Td (85,765) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 603.00 Td (Customer deposits held in escrow) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 603.00 Td (57,663) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.30 603.00 Td (349) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 603.00 Td (58,012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 590.00 Td (Investments in unconsolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 590.00 Td (96,840) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 590.00 Td (504,856) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 590.00 Td (601,696) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 577.00 Td (Investments in foreclosed real estate and distressed loans) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 577.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 564.00 Td (Investments in and advances to consolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.25 564.00 Td (4,163,667) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.25 564.00 Td (2,747,471) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 564.00 Td (91,740) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 564.00 Td (166,492) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 564.00 Td (\(7,169,370) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 564.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 564.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 551.00 Td (Deferred tax assets, net of valuation allowances) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.25 551.00 Td (160,006) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 551.00 Td (160,006) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 538.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.25 538.00 Td (4,335,486) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.25 538.00 Td (2,747,471) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 538.00 Td (8,280,825) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.25 538.00 Td (1,363,368) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 538.00 Td (\(7,210,350) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 538.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 538.00 Td (9,516,800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 525.00 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 512.00 Td (Liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.00 512.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 512.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 512.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 512.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 512.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 512.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 499.00 Td (Loans payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 499.00 Td (879,894) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 499.00 Td (879,894) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 486.00 Td (Senior notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.25 486.00 Td (2,687,342) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.25 486.00 Td (8,182) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 486.00 Td (2,695,524) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 473.00 Td (Mortgage company loan facility) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 473.00 Td (57,040) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 473.00 Td (57,040) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 460.00 Td (Customer deposits) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 460.00 Td (326,407) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 460.00 Td (17,743) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 460.00 Td (344,150) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 447.00 Td (Accounts payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 447.00 Td (256,323) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.30 447.00 Td (2,371) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 447.00 Td (258,694) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 434.00 Td (Accrued expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.25 434.00 Td (36,869) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 434.00 Td (585,661) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 434.00 Td (367,776) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 434.00 Td (\(50,204) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 434.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 434.00 Td (940,102) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 421.00 Td (Advances from consolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 421.00 Td (1,834,429) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 421.00 Td (728,851) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 421.00 Td (\(2,563,280) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 421.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 421.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 408.00 Td (Income taxes payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 408.00 Td (20,372) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 408.00 Td (20,372) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 395.00 Td (Total liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 395.00 Td (20,372) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.25 395.00 Td (2,724,211) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 395.00 Td (3,882,714) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.25 395.00 Td (1,173,781) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 395.00 Td (\(2,605,302) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 395.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 395.00 Td (5,195,776) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 382.00 Td (Equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 369.00 Td (Stockholders equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.00 369.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 369.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 369.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 369.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 369.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 369.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 356.00 Td (Common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.25 356.00 Td (1,779) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.30 356.00 Td (48) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.30 356.00 Td (3,006) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.60 356.00 Td (\(3,054) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 356.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.25 356.00 Td (1,779) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 343.00 Td (Additional paid-in capital) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.25 343.00 Td (718,861) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.25 343.00 Td (49,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 343.00 Td (93,734) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 343.00 Td (\(143,134) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 343.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 343.00 Td (718,861) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 330.00 Td (Retained earnings \(deficits\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.25 330.00 Td (4,047,713) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.60 330.00 Td (\(26,140) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 330.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 330.00 Td (4,398,063) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 330.00 Td (86,937) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 330.00 Td (\(4,458,860) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 330.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 330.00 Td (4,047,713) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 317.00 Td (Treasury stock, at cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.60 317.00 Td (\(450,072) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.30 317.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 317.00 Td (\(450,072) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 317.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 304.00 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.60 304.00 Td (\(3,167) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.30 304.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.60 304.00 Td (\(3,167) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 304.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 83.00 291.00 Td (Total stockholders equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.25 291.00 Td (4,315,114) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.25 291.00 Td (23,260) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 291.00 Td (4,398,111) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 291.00 Td (183,677) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 291.00 Td (\(4,605,048) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 291.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 291.00 Td (4,315,114) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 278.00 Td (Noncontrolling interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.30 278.00 Td (5,910) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.25 278.00 Td (5,910) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 265.00 Td (Total equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.25 265.00 Td (4,315,114) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.25 265.00 Td (23,260) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 265.00 Td (4,398,111) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 265.00 Td (189,587) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 265.00 Td (\(4,605,048) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 265.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 265.00 Td (4,321,024) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 252.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.25 252.00 Td (4,335,486) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.25 252.00 Td (2,747,471) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 252.00 Td (8,280,825) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.25 252.00 Td (1,363,368) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 252.00 Td (\(7,210,350) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 252.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 252.00 Td (9,516,800) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Condensed Consolidating Balance Sheet at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.75 742.25 Td (October) Tj ET Q q 0 0 0 rg BT 269.55 742.25 Td (31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.05 742.25 Td (: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 689.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 689.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 689.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 689.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 689.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 689.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 689.75 4.00 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1 rg /GS0 gs 513.50 299.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 273.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 273.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 273.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 273.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 273.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 273.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 273.75 49.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 702.75 m 292.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 702.75 m 346.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 702.75 m 400.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 702.75 m 455.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 702.75 m 509.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 702.75 m 562.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 559.75 m 400.5 559.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 559.75 m 562.5 559.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 559.75 m 292.5 559.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 547.75 m 292.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 545.75 m 292.5 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 559.75 m 346.5 559.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 547.75 m 346.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 545.75 m 346.5 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 559.75 m 400.5 559.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 547.75 m 400.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 545.75 m 400.5 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 559.75 m 455.5 559.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 547.75 m 455.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 545.75 m 455.5 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 559.75 m 509.5 559.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 547.75 m 509.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 545.75 m 509.5 545.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 559.75 m 562.5 559.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 547.75 m 562.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 545.75 m 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455.5 261.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 259.75 m 455.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 273.75 m 509.5 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 261.75 m 509.5 261.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 259.75 m 509.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 261.75 m 562.5 261.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 259.75 m 562.5 259.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.60 723.00 Td (T) Tj ET Q q 0 0 0 rg BT 264.93 723.00 Td (oll) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.20 715.00 Td (Brothers,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.85 707.00 Td (Inc.) 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0 0 0 rg BT 365.25 551.00 Td (8,125,224) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.25 551.00 Td (1,580,217) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 551.00 Td (\(7,001,886) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 551.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 551.00 Td (9,736,789) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 538.00 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.00 538.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 538.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 538.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 538.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 538.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 538.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 525.00 Td (Liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 512.00 Td (Loans payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 512.00 Td (871,079) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 512.00 Td (871,079) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 499.00 Td (Senior notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.25 499.00 Td (2,683,823) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.25 499.00 Td (10,549) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 499.00 Td (2,694,372) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 486.00 Td (Mortgage company loan facility) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 486.00 Td (210,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 486.00 Td (210,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 473.00 Td (Customer deposits) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 473.00 Td (292,794) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 473.00 Td (16,305) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 473.00 Td (309,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 460.00 Td (Accounts payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 460.00 Td (280,107) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.30 460.00 Td (1,848) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 460.00 Td (281,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 447.00 Td (Accrued expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.25 447.00 Td (32,559) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 447.00 Td (610,958) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 447.00 Td (469,527) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 447.00 Td (\(40,744) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 447.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 447.00 Td (1,072,300) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 434.00 Td (Advances from consolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 434.00 Td (1,737,682) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 434.00 Td (799,082) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 434.00 Td (\(2,536,764) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 434.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 434.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 421.00 Td (Income taxes payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 421.00 Td (62,782) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 421.00 Td (62,782) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 408.00 Td (Total liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 408.00 Td (62,782) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.25 408.00 Td (2,716,382) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 408.00 Td (3,792,620) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.25 408.00 Td (1,496,762) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 408.00 Td (\(2,566,959) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 408.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 408.00 Td (5,501,587) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 395.00 Td (Equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.00 395.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 395.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 395.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 395.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 395.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 395.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 382.00 Td (Stockholders equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 382.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg 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/F1 8.00 Tf ET q 0 0 0 rg BT 257.25 343.00 Td (3,977,297) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.60 343.00 Td (\(24,622) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 343.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 343.00 Td (4,332,556) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 343.00 Td (67,805) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 343.00 Td (\(4,375,739) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 343.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 343.00 Td (3,977,297) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 330.00 Td (Treasury stock, at cost) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.60 330.00 Td (\(474,912) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.30 330.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 330.00 Td (\(474,912) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 330.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 71.00 317.00 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg 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/F1 8.00 Tf ET q 0 0 0 rg BT 71.00 278.00 Td (Total equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.25 278.00 Td (4,229,292) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.25 278.00 Td (24,778) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 278.00 Td (4,332,604) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 278.00 Td (83,455) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 278.00 Td (\(4,434,927) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 278.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 278.00 Td (4,235,202) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 265.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.25 265.00 Td (4,292,074) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.25 265.00 Td (2,741,160) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.25 265.00 Td (8,125,224) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.25 265.00 Td (1,580,217) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.60 265.00 Td (\(7,001,886) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 265.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 265.00 Td (9,736,789) 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 31.60 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Condensed Consolidating Statement of Operations and Compr) Tj ET Q q 0 0 0 rg BT 317.62 742.25 Td (ehensive Income \(Loss\) for) Tj ET Q q 0 0 0 rg BT 431.59 742.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.92 742.25 Td (thr) Tj ET Q q 0 0 0 rg BT 463.07 742.25 Td (ee) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.95 742.25 Td ( months ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (January31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.06 730.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 690.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 690.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 690.75 4.00 -13.00 re f /GS0 gs 0.8 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400.50 612.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 612.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 612.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 612.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 612.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 612.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 586.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 586.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 586.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 586.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 586.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 586.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 586.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 560.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 560.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 560.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 560.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 560.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 560.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 560.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 534.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 534.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 534.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 534.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 534.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 534.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 534.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 534.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 534.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 534.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 534.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 534.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 508.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 508.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 508.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 508.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 508.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 508.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 508.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 508.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 508.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 508.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 508.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 508.75 49.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 690.75 m 292.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 690.75 m 346.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 690.75 m 400.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 690.75 m 455.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 690.75 m 509.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 690.75 m 562.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 690.75 m 292.5 690.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 677.75 m 292.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 677.75 m 346.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 677.75 m 400.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 677.75 m 455.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 677.75 m 509.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 677.75 m 562.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 651.75 m 292.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 651.75 m 346.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 651.75 m 400.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 651.75 m 455.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 651.75 m 509.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 651.75 m 562.5 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 638.75 m 292.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 638.75 m 346.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 638.75 m 400.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 638.75 m 455.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 638.75 m 509.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 638.75 m 562.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 547.75 m 292.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 547.75 m 346.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 547.75 m 400.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 547.75 m 455.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 547.75 m 509.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 547.75 m 562.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 521.75 m 292.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 521.75 m 346.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 521.75 m 400.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 521.75 m 455.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 521.75 m 509.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 521.75 m 562.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 495.75 m 292.5 495.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 495.75 m 400.5 495.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 495.75 m 455.5 495.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 495.75 m 509.5 495.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 483.75 m 292.5 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 481.75 m 292.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 495.75 m 346.5 495.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 483.75 m 346.5 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 481.75 m 346.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 483.75 m 400.5 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 481.75 m 400.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 483.75 m 455.5 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 481.75 m 455.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 483.75 m 509.5 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 481.75 m 509.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 495.75 m 562.5 495.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 483.75 m 562.5 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 481.75 m 562.5 481.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.60 711.00 Td (T) Tj ET Q q 0 0 0 rg BT 264.93 711.00 Td (oll) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.20 703.00 Td (Brothers,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.85 695.00 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.85 703.00 Td (Subsidiary) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.40 695.00 Td (Issuer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.75 703.00 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.40 695.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.25 703.00 Td (Nonguarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.90 695.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.55 695.00 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.35 695.00 Td (Consolidated) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 682.01 Td (Revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 682.00 Td (915,823) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 682.00 Td (45,696) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 682.00 Td (\(40,789) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 682.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 682.00 Td (920,730) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 669.01 Td (Cost of revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 669.00 Td (724,257) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 669.00 Td (29,471) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 669.00 Td (\(20,726) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 669.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 669.00 Td (733,002) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 656.01 Td (Selling, general and administrative) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.30 656.00 Td (968) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 656.00 Td (143,881) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 656.00 Td (16,948) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 656.00 Td (\(24,702) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 656.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 656.00 Td (137,095) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 643.01 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.30 643.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.30 643.00 Td (968) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 643.00 Td (868,138) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 643.00 Td (46,419) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 643.00 Td (\(45,428) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 643.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 643.00 Td (870,097) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 630.01 Td (Income \(loss\) from operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.30 630.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.60 630.00 Td (\(968) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 630.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 630.00 Td (47,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.60 630.00 Td (\(723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.30 630.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.25 630.00 Td (4,639) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 630.00 Td (50,633) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 617.01 Td (Other:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 617.00 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 604.01 Td (Income from unconsolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 604.00 Td (5,144) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 604.00 Td (41,301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 604.00 Td (46,445) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 590.32 Td (Other income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.48 590.32 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 115.48 590.32 Td ( net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.25 591.00 Td (2,393) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 591.00 Td (7,251) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.30 591.00 Td (4,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.60 591.00 Td (\(1,441) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 591.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 591.00 Td (12,703) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 578.01 Td (Intercompany interest income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.25 578.00 Td (36,496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 578.00 Td (\(36,496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 578.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 578.00 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 565.01 Td (Interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.60 565.00 Td (\(37,895) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 565.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.60 565.00 Td (\(663) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.30 565.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.25 565.00 Td (38,558) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 565.00 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 552.01 Td (Income from subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.25 552.00 Td (107,388) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 552.00 Td (42,048) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 552.00 Td (\(149,436) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 552.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 552.00 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 539.01 Td (Income \(loss\) before income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.25 539.00 Td (109,781) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.60 539.00 Td (\(2,367) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 539.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 539.00 Td (102,128) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 539.00 Td (44,415) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 539.00 Td (\(144,176) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 539.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 539.00 Td (109,781) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 526.01 Td (Income tax provision \(benefit\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 526.00 Td (39,365) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.60 526.00 Td (\(849) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 526.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 526.00 Td (36,621) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 526.00 Td (15,926) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 526.00 Td (\(51,698) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 526.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 526.00 Td (39,365) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 513.01 Td (Net income \(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 513.00 Td (70,416) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.60 513.00 Td (\(1,518) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 513.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 513.00 Td (65,507) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 513.00 Td (28,489) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 513.00 Td (\(92,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 513.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 513.00 Td (70,416) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 500.01 Td (Other comprehensive income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.30 500.00 Td (169) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 500.00 Td (169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 487.01 Td (Total comprehensive income \(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 487.00 Td (70,585) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.60 487.00 Td (\(1,518) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 487.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 487.00 Td (65,507) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 487.00 Td (28,489) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 487.00 Td (\(92,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 487.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 487.00 Td (70,585) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 449.25 Td (Condensed Consolidating Statement of Operations and Compr) Tj ET Q q 0 0 0 rg BT 317.62 449.25 Td (ehensive Income \(Loss\) for) Tj ET Q q 0 0 0 rg BT 431.59 449.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.92 449.25 Td (thr) Tj ET Q q 0 0 0 rg BT 463.07 449.25 Td (ee) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.95 449.25 Td ( months ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 437.25 Td (January31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.06 437.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 397.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 397.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 397.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 397.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 397.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 397.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 397.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 397.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 397.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 397.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 397.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 397.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 371.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 371.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 371.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 371.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 371.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 371.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 371.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 371.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 371.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 371.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 371.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 371.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 345.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 345.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 345.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 345.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 345.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 345.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 345.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 345.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 345.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 345.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 345.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 345.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 319.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 319.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 319.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 319.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 319.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 319.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 319.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 319.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 319.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 319.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 319.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 319.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 293.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 293.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 293.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 293.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 293.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 293.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 293.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 293.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 293.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 293.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 293.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 293.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 267.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 267.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 267.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 267.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 267.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 267.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 267.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 267.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 267.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 267.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 267.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 267.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 241.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 241.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 241.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 241.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 241.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 241.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 241.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 241.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 241.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 241.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 241.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 241.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 215.75 192.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 215.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.50 215.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 215.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 215.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 215.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 215.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 215.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 215.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 215.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 215.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 215.75 49.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 397.75 m 292.5 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 397.75 m 346.5 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 397.75 m 400.5 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 397.75 m 455.5 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 397.75 m 509.5 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 397.75 m 562.5 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 384.75 m 292.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 384.75 m 346.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 384.75 m 400.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 384.75 m 455.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 384.75 m 509.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 384.75 m 562.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 358.75 m 292.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 358.75 m 346.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 358.75 m 400.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 358.75 m 455.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 358.75 m 509.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 358.75 m 562.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 345.75 m 292.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 345.75 m 346.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 345.75 m 400.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 345.75 m 455.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 345.75 m 509.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 345.75 m 562.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 254.75 m 292.5 254.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 254.75 m 346.5 254.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 254.75 m 400.5 254.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 254.75 m 455.5 254.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 254.75 m 509.5 254.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 254.75 m 562.5 254.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 228.75 m 292.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 228.75 m 346.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 228.75 m 400.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 228.75 m 455.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 228.75 m 509.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 228.75 m 562.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 228.75 m 292.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 228.75 m 346.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 228.75 m 400.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 228.75 m 455.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 228.75 m 509.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 228.75 m 562.5 228.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 202.75 m 292.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 202.75 m 346.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 202.75 m 400.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 202.75 m 455.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 202.75 m 509.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 202.75 m 562.5 202.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 190.75 m 292.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242.5 188.75 m 292.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 190.75 m 346.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 188.75 m 346.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 190.75 m 400.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 188.75 m 400.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 190.75 m 455.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 188.75 m 455.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 190.75 m 509.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 188.75 m 509.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 190.75 m 562.5 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 188.75 m 562.5 188.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.60 418.00 Td (T) Tj ET Q q 0 0 0 rg BT 264.93 418.00 Td (oll) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 252.20 410.00 Td (Brothers,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 260.85 402.00 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 303.85 410.00 Td (Subsidiary) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.40 402.00 Td (Issuer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.75 410.00 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.40 402.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.25 410.00 Td (Nonguarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.90 402.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.55 402.00 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.35 402.00 Td (Consolidated) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 389.01 Td (Revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 389.00 Td (784,596) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 389.00 Td (170,223) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 389.00 Td (\(26,253) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 389.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 389.00 Td (928,566) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 376.01 Td (Cost of revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 376.00 Td (624,801) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 376.00 Td (90,087) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.60 376.00 Td (\(2,577) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 376.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 376.00 Td (712,311) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 363.01 Td (Selling, general and administrative) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.30 363.00 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.30 363.00 Td (969) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 363.00 Td (125,905) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 363.00 Td (17,973) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 363.00 Td (\(23,063) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 363.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 363.00 Td (121,796) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 350.01 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.30 350.00 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.30 350.00 Td (969) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 350.00 Td (750,706) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.25 350.00 Td (108,060) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 350.00 Td (\(25,640) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 350.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 350.00 Td (834,107) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 337.01 Td (Income \(loss\) from operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.60 337.00 Td (\(12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.30 337.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.60 337.00 Td (\(969) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 337.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 337.00 Td (33,890) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 337.00 Td (62,163) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.60 337.00 Td (\(613) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 337.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 337.00 Td (94,459) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 324.01 Td (Other:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.00 324.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.00 324.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 324.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.00 324.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 324.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 324.00 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 311.01 Td (Income from unconsolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 311.00 Td (2,997) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.30 311.00 Td (5,641) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.25 311.00 Td (8,638) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 297.32 Td (Other income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.48 297.32 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 115.48 297.32 Td ( net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.25 298.00 Td (2,391) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.25 298.00 Td (8,169) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.30 298.00 Td (4,193) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.60 298.00 Td (\(1,033) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 298.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 298.00 Td (13,720) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 285.01 Td (Intercompany interest income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.25 285.00 Td (36,497) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 285.00 Td (\(36,497) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 285.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 285.00 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 272.01 Td (Interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.60 272.00 Td (\(37,895) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 272.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.60 272.00 Td (\(248) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.30 272.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.25 272.00 Td (38,143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 272.00 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 259.01 Td (Income from subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.25 259.00 Td (114,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 259.00 Td (69,382) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 259.00 Td (\(183,820) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 259.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 259.00 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 246.01 Td (Income \(loss\) before income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.25 246.00 Td (116,817) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.60 246.00 Td (\(2,367) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 246.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.25 246.00 Td (114,438) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 246.00 Td (71,749) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 246.00 Td (\(183,820) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 246.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 246.00 Td (116,817) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 233.01 Td (Income tax provision \(benefit\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 233.00 Td (43,637) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.60 233.00 Td (\(912) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 233.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 233.00 Td (44,104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 233.00 Td (27,652) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 233.00 Td (\(70,844) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 233.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 233.00 Td (43,637) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 220.01 Td (Netincome \(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 220.00 Td (73,180) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.60 220.00 Td (\(1,455) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 220.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 220.00 Td (70,334) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 220.00 Td (44,097) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 220.00 Td (\(112,976) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 220.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 220.00 Td (73,180) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 207.01 Td (Other comprehensive \(loss\) income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.60 207.00 Td (\(288) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.30 207.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.30 207.00 Td (27) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.60 207.00 Td (\(261) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 207.00 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 194.01 Td (Total comprehensive income \(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.25 194.00 Td (72,892) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.60 194.00 Td (\(1,455) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 194.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.25 194.00 Td (70,361) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.25 194.00 Td (44,097) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 194.00 Td (\(112,976) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 194.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 194.00 Td (72,919) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 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 31.60 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Consolidating Statement of Operations and Compr) Tj ET Q q 0 0 0 rg BT 267.89 742.25 Td (ehensive Income \(Loss\) for) Tj ET Q q 0 0 0 rg BT 381.86 742.25 Td ( the fiscal year) Tj ET Q q 0 0 0 rg BT 443.60 742.25 Td ( ended October) Tj ET Q q 0 0 0 rg BT 508.96 742.25 Td (31, 2016) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 702.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 702.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 702.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 702.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 702.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 702.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 702.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 702.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 702.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 702.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 702.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 702.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 672.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 672.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 672.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 672.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 672.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 672.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 672.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 672.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 672.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 672.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 672.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 672.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 642.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 642.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 642.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 642.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 642.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 642.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 642.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 612.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 612.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 612.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 612.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 612.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 612.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 612.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 612.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 612.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 612.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 612.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 612.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 582.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 582.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 582.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 582.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 582.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 582.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 582.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 582.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 582.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 582.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 582.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 582.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 552.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 552.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 552.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 552.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 552.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 552.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 552.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 552.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 552.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 552.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 552.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 552.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 522.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 522.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 522.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 522.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 522.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 522.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 522.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 522.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 522.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 522.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 522.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 522.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 492.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 492.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 492.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 492.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 492.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 492.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 492.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 492.75 50.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 702.75 m 290.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 702.75 m 344.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 702.75 m 398.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 702.75 m 454.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 702.75 m 508.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 702.75 m 562.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 702.75 m 290.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 687.75 m 290.5 687.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 687.75 m 344.5 687.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 687.75 m 398.5 687.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 687.75 m 454.5 687.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 687.75 m 508.5 687.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 687.75 m 562.5 687.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 657.75 m 290.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 657.75 m 344.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 657.75 m 398.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 657.75 m 454.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 657.75 m 508.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 657.75 m 562.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 642.75 m 290.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 642.75 m 344.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 642.75 m 398.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 642.75 m 454.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 642.75 m 508.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 642.75 m 562.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 642.75 m 344.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 537.75 m 290.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 537.75 m 344.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 537.75 m 398.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 537.75 m 454.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 537.75 m 508.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 537.75 m 562.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 507.75 m 290.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 507.75 m 344.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 507.75 m 398.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 507.75 m 454.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 507.75 m 508.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 507.75 m 562.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 477.75 m 290.5 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 477.75 m 290.5 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 463.75 m 290.5 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 461.75 m 290.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 477.75 m 344.5 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 463.75 m 344.5 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 461.75 m 344.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 477.75 m 398.5 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 463.75 m 398.5 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 461.75 m 398.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 477.75 m 454.5 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 463.75 m 454.5 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 461.75 m 454.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 477.75 m 508.5 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 463.75 m 508.5 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 461.75 m 508.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 477.75 m 562.5 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 463.75 m 562.5 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 461.75 m 562.5 461.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.60 723.00 Td (T) Tj ET Q q 0 0 0 rg BT 262.93 723.00 Td (oll) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.20 715.00 Td (Brothers,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.85 707.00 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.85 715.00 Td (Subsidiary) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.40 707.00 Td (Issuer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 715.00 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.40 707.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 715.00 Td (Nonguarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.40 707.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.55 707.00 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.85 707.00 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 692.00 Td (Revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.25 692.00 Td (4,984,356) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.25 692.00 Td (361,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 692.00 Td (\(176,533) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 692.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 692.00 Td (5,169,508) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 677.00 Td (Cost of revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.25 677.00 Td (3,919,729) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.25 677.00 Td (288,044) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.60 677.00 Td (\(63,708) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 677.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 677.00 Td (4,144,065) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 662.00 Td (Selling, general and administrative) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.30 662.00 Td (75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.25 662.00 Td (3,809) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.25 662.00 Td (558,822) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 662.00 Td (74,328) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 662.00 Td (\(101,652) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 662.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 662.00 Td (535,382) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 647.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.30 647.00 Td (75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.25 647.00 Td (3,809) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.25 647.00 Td (4,478,551) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.25 647.00 Td (362,372) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 647.00 Td (\(165,360) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 647.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 647.00 Td (4,679,447) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 632.00 Td (Income \(loss\) from operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.60 632.00 Td (\(75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.30 632.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.60 632.00 Td (\(3,809) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.30 632.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.25 632.00 Td (505,805) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.60 632.00 Td (\(687) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.30 632.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.60 632.00 Td (\(11,173) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 632.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 632.00 Td (490,061) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 617.00 Td (Other:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.00 617.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 602.00 Td (Income from unconsolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.25 602.00 Td (16,913) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 602.00 Td (23,835) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 602.00 Td (40,748) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 587.00 Td (Other income - net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.25 587.00 Td (9,501) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.25 587.00 Td (27,873) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 587.00 Td (17,456) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.25 587.00 Td (3,388) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 587.00 Td (58,218) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 572.00 Td (Intercompany interest income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.25 572.00 Td (145,828) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 572.00 Td (\(145,828) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 572.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 572.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 557.00 Td (Interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.60 557.00 Td (\(151,410) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.30 557.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.60 557.00 Td (\(2,203) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.30 557.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.25 557.00 Td (153,613) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 557.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 542.00 Td (Income from consolidated subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.25 542.00 Td (579,601) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.25 542.00 Td (29,010) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 542.00 Td (\(608,611) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 542.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 542.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 527.00 Td (Income \(loss\) before income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.25 527.00 Td (589,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.60 527.00 Td (\(9,391) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.30 527.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.25 527.00 Td (579,601) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 527.00 Td (38,401) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 527.00 Td (\(608,611) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 527.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 527.00 Td (589,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 512.00 Td (Income tax provision \(benefit\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.25 512.00 Td (206,932) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.60 512.00 Td (\(3,299) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.30 512.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.25 512.00 Td (203,614) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 512.00 Td (13,490) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 512.00 Td (\(213,805) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 512.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 512.00 Td (206,932) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 497.00 Td (Net income \(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.25 497.00 Td (382,095) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.60 497.00 Td (\(6,092) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.30 497.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.25 497.00 Td (375,987) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 497.00 Td (24,911) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 497.00 Td (\(394,806) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 497.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 497.00 Td (382,095) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 482.00 Td (Other comprehensive \(loss\) income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.60 482.00 Td (\(858) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.30 482.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.30 482.00 Td (31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.60 482.00 Td (\(827) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 482.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 467.00 Td (Total comprehensive income \(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.25 467.00 Td (381,237) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.60 467.00 Td (\(6,092) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.30 467.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.25 467.00 Td (376,018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 467.00 Td (24,911) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 467.00 Td (\(394,806) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 467.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 467.00 Td (381,268) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 429.25 Td (Condensed Consolidating Statement of Cash Flows for) Tj ET Q q 0 0 0 rg BT 282.61 429.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.94 429.25 Td (thr) Tj ET Q q 0 0 0 rg BT 314.09 429.25 Td (ee) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.97 429.25 Td ( months ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.71 429.25 Td (January31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.77 429.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 389.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 389.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 389.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 389.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 389.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 389.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 389.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 389.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 389.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 389.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 389.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 389.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 363.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 363.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 363.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 363.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 363.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 363.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 363.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 363.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 363.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 363.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 363.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 363.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 337.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 337.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 337.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 337.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 337.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 337.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 337.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 337.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 337.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 337.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 337.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 337.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 311.75 204.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 311.75 44.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 311.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 311.75 47.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 311.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 311.75 50.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 311.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 311.75 51.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 311.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 311.75 47.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 311.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 311.75 49.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 277.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 277.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 277.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 277.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 277.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 277.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 277.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 277.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 277.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 277.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 277.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 277.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 251.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 251.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 251.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 251.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 251.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 251.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 251.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 251.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 251.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 251.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 251.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 251.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 225.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 225.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 225.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 225.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 225.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 225.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 225.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 225.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 225.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 225.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 225.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 225.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 199.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 199.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 199.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 199.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 199.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 199.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 199.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 199.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 199.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 199.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 199.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 199.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 173.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 173.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 173.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 173.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 173.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 173.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 173.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 173.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 173.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 173.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 173.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 173.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 147.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 147.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 147.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 147.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 147.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 147.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 147.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 147.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 147.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 147.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 147.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 147.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 121.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 121.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 121.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 121.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 121.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 121.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 121.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 121.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 121.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 121.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 121.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 121.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 95.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 95.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 95.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 95.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 95.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 95.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 95.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 95.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 95.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 95.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 95.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 95.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 69.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.50 69.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 69.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 69.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 69.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 69.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 69.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 69.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 69.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 69.75 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 69.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 69.75 49.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 389.75 m 298.5 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 389.75 m 349.5 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 389.75 m 403.5 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 389.75 m 458.5 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 389.75 m 509.5 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 389.75 m 562.5 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 389.75 m 298.5 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 376.75 m 298.5 376.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 376.75 m 349.5 376.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 376.75 m 403.5 376.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 376.75 m 458.5 376.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 376.75 m 509.5 376.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 389.75 m 562.5 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 376.75 m 562.5 376.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 251.75 m 298.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 251.75 m 298.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 238.75 m 298.5 238.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 251.75 m 349.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 238.75 m 349.5 238.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 251.75 m 403.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 238.75 m 403.5 238.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 251.75 m 458.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 238.75 m 458.5 238.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 251.75 m 509.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 238.75 m 509.5 238.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 251.75 m 562.5 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 238.75 m 562.5 238.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 108.75 m 298.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 108.75 m 349.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 108.75 m 403.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 108.75 m 458.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 108.75 m 562.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 95.75 m 298.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 108.75 m 349.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 95.75 m 349.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 95.75 m 403.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 95.75 m 458.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 108.75 m 509.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 95.75 m 509.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 95.75 m 562.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 69.75 m 298.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 69.75 m 349.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 69.75 m 403.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 69.75 m 458.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 69.75 m 509.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 69.75 m 562.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 57.75 m 298.5 57.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 55.75 m 298.5 55.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 57.75 m 349.5 57.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 55.75 m 349.5 55.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 57.75 m 403.5 57.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 55.75 m 403.5 55.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 57.75 m 458.5 57.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 55.75 m 458.5 55.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 57.75 m 509.5 57.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 55.75 m 509.5 55.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 69.75 m 562.5 69.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 57.75 m 562.5 57.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 55.75 m 562.5 55.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.60 410.00 Td (T) Tj ET Q q 0 0 0 rg BT 273.93 410.00 Td (oll) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.20 402.00 Td (Brothers,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.85 394.00 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.35 402.00 Td (Subsidiary) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 315.90 394.00 Td (Issuer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.75 402.00 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.40 394.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.25 402.00 Td (Nonguarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.90 394.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.05 394.00 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.35 394.00 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 381.00 Td (Net cash \(used in\) provided by operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.60 381.00 Td (\(25,840) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.30 381.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.25 381.00 Td (6,311) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.60 381.00 Td (\(273,424) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 381.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 381.00 Td (338,773) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.60 381.00 Td (\(3,856) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 381.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 381.00 Td (41,964) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 368.00 Td (Cash flow provided by \(used in\) investing activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.00 368.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 368.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.00 368.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.00 368.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 368.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 355.00 Td (Purchase of property and equipment - net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.60 355.00 Td (\(6,393) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 355.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.30 355.00 Td (79) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.60 355.00 Td (\(6,314) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 355.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 342.00 Td (Investment in unconsolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.60 342.00 Td (\(267) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 342.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.60 342.00 Td (\(99,674) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 342.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.60 342.00 Td (\(99,941) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 342.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 329.00 Td (Return of investments in unconsolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 329.00 Td (9,950) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.25 329.00 Td (23,303) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 329.00 Td (33,253) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 316.00 Td (Investment in foreclosed real estate and distressed loans) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.60 316.00 Td (\(274) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 316.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.60 316.00 Td (\(274) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 316.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 303.00 Td (Return of investments in foreclosed real estate and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 295.00 Td (distressed loans) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.30 295.00 Td (1,852) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.25 295.00 Td (1,852) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 282.00 Td (Acquisition of a business) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.60 282.00 Td (\(85,183) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 282.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.60 282.00 Td (\(85,183) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 282.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 269.00 Td (Investment paid - intercompany) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.25 269.00 Td (45,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 269.00 Td (\(45,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 269.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 269.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 256.00 Td (Intercompany advances) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.25 256.00 Td (14,992) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.60 256.00 Td (\(6,311) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.30 256.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.60 256.00 Td (\(8,681) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 256.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 256.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 243.00 Td (Net cash provided by \(used in\) investing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.25 243.00 Td (14,992) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.60 243.00 Td (\(6,311) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.30 243.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.60 243.00 Td (\(36,893) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 243.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.60 243.00 Td (\(74,714) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 243.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 243.00 Td (\(53,681) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 243.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 243.00 Td (\(156,607) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 243.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 230.00 Td (Cash flow used in financing activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 257.00 230.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.00 230.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 230.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.00 230.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.00 230.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 230.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 217.00 Td (Proceeds from loans payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 217.00 Td (360,382) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 217.00 Td (360,382) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 204.00 Td (Debt issuance costs for loans payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 204.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 191.00 Td (Principal payments of loans payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.60 191.00 Td (\(3,491) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 191.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.60 191.00 Td (\(513,342) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 191.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 191.00 Td (\(516,833) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 191.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 178.00 Td (Proceeds from stock-based benefit plans) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.25 178.00 Td (25,831) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 178.00 Td (25,831) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 165.00 Td (Excess tax benefits from stock-based compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.25 165.00 Td (253) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 165.00 Td (253) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 152.00 Td (Purchase of treasury stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.60 152.00 Td (\(15,236) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 295.30 152.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.60 152.00 Td (\(15,236) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 152.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 139.00 Td (Dividend paid - intercompany) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 139.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 126.00 Td (Investment received intercompany) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.25 126.00 Td (45,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 126.00 Td (\(45,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 126.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 126.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 113.00 Td (Intercompany advances) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.25 113.00 Td (10,872) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.60 113.00 Td (\(113,409) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 113.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.25 113.00 Td (102,537) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 113.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 100.00 Td (Net cash used in financing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.25 100.00 Td (10,848) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.30 100.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 100.00 Td (7,381) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.60 100.00 Td (\(221,369) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 100.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.25 100.00 Td (57,537) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 100.00 Td (\(145,603) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 100.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 87.00 Td (Net decrease in cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.30 87.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.30 87.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.60 87.00 Td (\(302,936) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 87.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.25 87.00 Td (42,690) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.30 87.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 87.00 Td (\(260,246) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 87.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 74.00 Td (Cash and cash equivalents, beginning of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.30 74.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.30 74.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.25 74.00 Td (583,440) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.25 74.00 Td (50,275) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.30 74.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 74.00 Td (633,715) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 61.00 Td (Cash and cash equivalents, end of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.30 61.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.30 61.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.25 61.00 Td (280,504) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.25 61.00 Td (92,965) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.30 61.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 61.00 Td (373,469) 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 31.60 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Condensed Consolidating Statement of Cash Flows for) Tj ET Q q 0 0 0 rg BT 282.61 742.25 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.94 742.25 Td (thr) Tj ET Q q 0 0 0 rg BT 314.09 742.25 Td (ee) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.97 742.25 Td ( months ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.71 742.25 Td (January31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.77 742.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 702.75 210.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 702.75 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 702.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.50 702.75 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 702.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 702.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 702.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 702.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 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0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 372.75 m 403.5 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 372.75 m 458.5 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 372.75 m 509.5 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 372.75 m 562.5 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 360.75 m 304.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 358.75 m 304.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 360.75 m 349.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308.5 358.75 m 349.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 360.75 m 403.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 358.75 m 403.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 360.75 m 458.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 358.75 m 458.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 360.75 m 509.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 358.75 m 509.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 360.75 m 562.5 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 358.75 m 562.5 358.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.60 723.00 Td (T) Tj ET Q q 0 0 0 rg BT 279.93 723.00 Td (oll) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.20 715.00 Td (Brothers,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.85 707.00 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.35 715.00 Td (Subsidiary) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.90 707.00 Td (Issuer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.75 715.00 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.40 707.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.25 715.00 Td (Nonguarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.90 707.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.05 707.00 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.35 707.00 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 694.00 Td (Net cash \(used in\) provided by operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.25 694.00 Td (18,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.25 694.00 Td (14,528) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.60 694.00 Td (\(178,283) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 694.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 694.00 Td (132,051) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.60 694.00 Td (\(10,003) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 694.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.60 694.00 Td (\(23,225) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 694.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 681.00 Td (Cash flow provided by \(used in\) investing activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.00 681.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.00 681.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 681.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.00 681.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.00 681.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 681.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 668.00 Td (Purchase of property and equipment net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.60 668.00 Td (\(1,667) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 668.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.30 668.00 Td (74) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.60 668.00 Td (\(1,593) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 668.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 655.00 Td (Purchase of marketable securities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 655.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 642.00 Td (Sale and redemption of marketable securities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.25 642.00 Td (10,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 642.00 Td (10,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 629.00 Td (Investments in unconsolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.60 629.00 Td (\(1,445) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 629.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.60 629.00 Td (\(10,393) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 629.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.60 629.00 Td (\(11,838) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 629.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 616.00 Td (Return of investments in unconsolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.25 616.00 Td (12,167) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.30 616.00 Td (2,637) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 616.00 Td (14,804) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 603.00 Td (Investment in foreclosed real estate and distressed loans) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.60 603.00 Td (\(694) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 603.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.60 603.00 Td (\(694) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 603.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 590.70 Td (Return of investments in foreclosed real estate and distressed) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.00 582.75 Td (loans) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.30 585.00 Td (5,321) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.25 585.00 Td (5,321) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 572.00 Td (Dividend received ) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 119.86 572.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 124.31 572.00 Td ( intercompany) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 572.00 Td (5,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.60 572.00 Td (\(5,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 572.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 572.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 559.00 Td (Intercompany advances) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.25 559.00 Td (126,587) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.60 559.00 Td (\(14,464) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.30 559.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 559.00 Td (\(112,123) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 559.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 559.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 546.00 Td (Net cash provided by \(used in\) investing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.25 546.00 Td (126,587) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.60 546.00 Td (\(14,464) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.30 546.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.25 546.00 Td (14,055) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.30 546.00 Td (6,945) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.60 546.00 Td (\(117,123) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.30 546.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 546.00 Td (16,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 533.00 Td (Cash flow used in financing activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 263.00 533.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.00 533.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 533.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.00 533.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.00 533.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 533.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 520.00 Td (Debt issuance costs for senior notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.60 520.00 Td (\(64) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.30 520.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.60 520.00 Td (\(64) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 520.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 507.00 Td (Proceeds from loans payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 507.00 Td (339,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 507.00 Td (339,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 494.00 Td (Principal payments of loans payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.60 494.00 Td (\(394,592) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 494.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.60 494.00 Td (\(375,947) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 494.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 494.00 Td (\(770,539) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 494.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 481.00 Td (Proceeds from stock-based benefit plans) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.25 481.00 Td (4,769) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.25 481.00 Td (4,769) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 468.00 Td (Excess tax benefits from stock-based compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.25 468.00 Td (297) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 468.00 Td (297) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 455.00 Td (Purchase of treasury stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.60 455.00 Td (\(150,135) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.30 455.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 455.00 Td (\(150,135) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 455.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 442.00 Td (Receipts related to noncontrolling interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.30 442.00 Td (294) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 442.00 Td (294) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 429.00 Td (Dividend paid ) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 106.55 429.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 111.00 429.00 Td ( intercompany) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.60 429.00 Td (\(5,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 429.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.25 429.00 Td (5,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 429.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 416.00 Td (Intercompany advances) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.60 416.00 Td (\(46,017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 416.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.60 416.00 Td (\(76,109) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 416.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.25 416.00 Td (122,126) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 416.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 403.00 Td (Net cash used in financing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.60 403.00 Td (\(145,069) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.30 403.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.60 403.00 Td (\(64) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.30 403.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.60 403.00 Td (\(440,609) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 403.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.60 403.00 Td (\(116,908) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 403.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.25 403.00 Td (127,126) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 403.00 Td (\(575,524) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 403.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 390.00 Td (Net \(decrease\) increase in cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.30 390.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.30 390.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.60 390.00 Td (\(604,837) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 390.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.25 390.00 Td (22,088) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.30 390.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 390.00 Td (\(582,749) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 390.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 377.00 Td (Cash and cash equivalents, beginning of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.30 377.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.30 377.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.25 377.00 Td (783,599) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 377.00 Td (135,394) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.30 377.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 377.00 Td (918,993) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 364.00 Td (Cash and cash equivalents, end of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.30 364.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 338.30 364.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.25 364.00 Td (178,762) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.25 364.00 Td (157,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.30 364.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 364.00 Td (336,244) 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 31.60 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Consolidating Statement of Cash Flows for) Tj ET Q q 0 0 0 rg BT 232.88 742.25 Td ( the fiscal year) Tj ET Q q 0 0 0 rg BT 294.62 742.25 Td ( ended October) Tj ET Q q 0 0 0 rg BT 359.99 742.25 Td (31, 2016) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 702.75 190.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 702.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 702.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 702.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 702.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 702.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 702.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 702.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 702.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 702.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 702.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 702.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 676.75 190.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 676.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 676.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 676.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 676.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 676.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 676.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 676.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 676.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 676.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 676.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 676.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 650.75 190.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 650.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 650.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 650.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 650.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 650.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 650.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 650.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 650.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 650.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 650.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 650.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 624.75 190.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 624.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 624.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 624.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 624.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 624.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 624.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 624.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 624.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 624.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 624.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 624.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 591.75 190.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 591.75 50.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 591.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 591.75 50.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 591.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 591.75 50.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 591.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 591.75 52.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 591.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 591.75 50.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 591.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 591.75 50.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 558.75 190.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 558.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 558.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 558.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 558.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 558.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 558.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 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344.50 312.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 312.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 312.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 312.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 312.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 312.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 312.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 312.75 50.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 702.75 m 290.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 702.75 m 344.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 702.75 m 398.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 702.75 m 454.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 702.75 m 508.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 702.75 m 562.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 702.75 m 290.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 689.75 m 290.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 702.75 m 344.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 689.75 m 344.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 702.75 m 398.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 689.75 m 398.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 702.75 m 454.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 689.75 m 454.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 702.75 m 508.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 689.75 m 508.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 702.75 m 562.5 702.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 689.75 m 562.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 532.75 m 290.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 532.75 m 290.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 511.75 m 290.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 532.75 m 344.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 511.75 m 344.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 532.75 m 398.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 511.75 m 398.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 532.75 m 454.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 511.75 m 454.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 532.75 m 508.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 511.75 m 508.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 532.75 m 562.5 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 511.75 m 562.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 359.75 m 290.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 338.75 m 290.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 359.75 m 344.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 338.75 m 344.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 359.75 m 398.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 338.75 m 398.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 359.75 m 454.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 338.75 m 454.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 359.75 m 508.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 338.75 m 508.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 359.75 m 562.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 338.75 m 562.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 338.75 m 344.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 338.75 m 398.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 338.75 m 454.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 338.75 m 508.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 338.75 m 562.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 312.75 m 290.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 300.75 m 290.5 300.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 298.75 m 290.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 312.75 m 344.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 300.75 m 344.5 300.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 298.75 m 344.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 312.75 m 398.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 300.75 m 398.5 300.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 298.75 m 398.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 312.75 m 454.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 300.75 m 454.5 300.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 298.75 m 454.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 312.75 m 508.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 300.75 m 508.5 300.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 298.75 m 508.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 312.75 m 562.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 300.75 m 562.5 300.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 298.75 m 562.5 298.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.60 723.00 Td (T) Tj ET Q q 0 0 0 rg BT 262.93 723.00 Td (oll) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 250.20 715.00 Td (Brothers,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.85 707.00 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.85 715.00 Td (Subsidiary) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.40 707.00 Td (Issuer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 715.00 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.40 707.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.75 715.00 Td (Nonguarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.40 707.00 Td (Subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.55 707.00 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.85 707.00 Td (Consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 694.00 Td (Net cash provided by \(used in\) operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 265.25 694.00 Td (60,465) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.25 694.00 Td (14,768) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.65 694.00 Td (105,709) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.95 694.00 Td (\(64,386) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.65 694.00 Td 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BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.65 642.00 Td (10,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 642.00 Td (10,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 629.00 Td (Investment in unconsolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.95 629.00 Td (\(2,637) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.65 629.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.95 629.00 Td (\(67,018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.65 629.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 534.60 629.00 Td (\(69,655) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 629.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 616.00 Td (Return of investments in unconsolidated entities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.65 616.00 Td (32,857) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.65 616.00 Td (14,949) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.25 616.00 Td (47,806) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 603.70 Td (Investment in distressed 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563.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 550.00 Td (Investment paid intercompany) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.95 550.00 Td (\(5,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.65 550.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.25 550.00 Td (5,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 550.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 537.00 Td (Intercompany advances) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.25 537.00 Td (323,207) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.60 537.00 Td (\(14,733) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.30 537.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 537.00 Td (\(308,474) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 537.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 537.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.00 524.00 Td (Net cash provided by \(used in\) investing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 516.00 Td (activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.25 516.00 Td (323,207) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.60 516.00 Td (\(14,733) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.30 516.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.65 516.00 Td (2,385) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.65 516.00 Td (5,826) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.60 516.00 Td (\(308,474) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 516.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.25 516.00 Td (8,211) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 503.00 Td (Cash flow \(used in\) provided by financing activities:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 490.00 Td (Debt issuance costs for senior notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.60 490.00 Td (\(35) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.30 490.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 548.60 490.00 Td (\(35) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 490.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 477.00 Td (Proceeds from loans payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.65 477.00 Td (550,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.60 477.00 Td (1,893,496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.25 477.00 Td (2,443,496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 464.00 Td (Debt issuance costs for loans payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.95 464.00 Td (\(4,868) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.65 464.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.60 464.00 Td (\(4,868) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 464.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 451.00 Td (Principal payments of loans payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.95 451.00 Td (\(714,089) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.65 451.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.95 451.00 Td (\(1,783,496) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.65 451.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.60 451.00 Td (\(2,497,585) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 451.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 438.00 Td (Proceeds from stock-based benefit plans) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.25 438.00 Td (6,986) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.25 438.00 Td (6,986) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 425.00 Td (Excess tax benefits from stock-based compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.25 425.00 Td (2,114) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.25 425.00 Td (2,114) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 412.00 Td (Purchase of treasury stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.60 412.00 Td (\(392,772) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.30 412.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 412.00 Td (\(392,772) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 412.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 399.00 Td (Receipts related to noncontrolling interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.65 399.00 Td (404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 399.00 Td (404) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 386.00 Td (Dividends paid intercompany) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.95 386.00 Td (\(5,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.65 386.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.25 386.00 Td (5,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 386.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 373.70 Td (Investment received intercompany) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.65 373.70 Td (5,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.60 373.70 Td (\(5,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.30 373.70 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 373.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 59.00 362.70 Td (Intercompany advances) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.95 362.70 Td (\(139,296) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.65 362.70 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.95 362.70 Td (\(136,963) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.65 362.70 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.25 362.70 Td (276,259) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 362.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.00 351.00 Td (Net cash \(used in\) provided by financing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 343.00 Td (activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 258.60 343.00 Td (\(383,672) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.30 343.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.60 343.00 Td (\(35) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.30 343.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.95 343.00 Td (\(308,253) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.65 343.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.95 343.00 Td (\(26,559) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.65 343.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.25 343.00 Td (276,259) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 343.00 Td (\(442,260) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 343.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 330.00 Td (Net decrease in cash and cash equivalents) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.30 330.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.30 330.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.95 330.00 Td (\(200,159) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.65 330.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.95 330.00 Td (\(85,119) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.65 330.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.30 330.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.60 330.00 Td (\(285,278) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.30 330.00 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 317.00 Td (Cash and cash equivalents, beginning of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.30 317.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.30 317.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.65 317.00 Td (783,599) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.65 317.00 Td (135,394) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.30 317.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 317.00 Td (918,993) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 304.00 Td (Cash and cash equivalents, end of period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.30 304.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.30 304.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.65 304.00 Td (583,440) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.65 304.00 Td (50,275) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.30 304.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.25 304.00 Td (633,715) 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 31.60 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM 2. MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 241.69 742.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 265.31 742.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 292.72 742.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 330.98 742.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 389.59 742.25 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 452.94 742.25 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 509.53 742.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 537.78 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (OPERA) Tj ET Q q 0 0 0 rg BT 84.26 730.25 Td (TIONS \(MD&A\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.25 Td (This discussion and analysis is based on, should be read together with, and is qualified in its entirety by) Tj ET Q q 0 0 0 rg BT 463.17 710.25 Td (, the accompanying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.25 Td (unaudited condensed consolidated financial statements and related notes, as well as our consolidated financial statements, notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 686.25 Td (thereto, and the related MD&A) Tj ET Q q 0 0 0 rg BT 174.68 686.25 Td ( contained in our ) Tj ET Q q 0 0 0 rg BT 244.11 686.25 Td (Annual Report on Form 10-K for the fiscal year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.60 686.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.31 686.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.77 674.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.77 674.25 Td ( Form 10-K\). It also should be read in conjunction with the disclosure under Statement on Forward-Looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.25 Td (Information in this report.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 642.25 Td (Unless otherwise stated, net contracts signed represents a number or value equal to the gross number or value of contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 630.25 Td (signed during the relevant period, less the number or value of contracts canceled during the relevant period, which includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 618.25 Td (contracts that were signed during the relevant period and in prior periods. Backlog consists of homes under contract but not yet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.25 Td (delivered to our home buyers.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (OVER) Tj ET Q q 0 0 0 rg BT 78.54 586.25 Td (VIEW) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 566.25 Td (Financial and Operational Highlights) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 546.25 Td (In the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.55 546.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.53 546.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.34 546.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.94 546.25 Td (, we recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.46 546.25 Td ($920.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.36 546.25 Td ( of revenues and net income of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.14 546.25 Td ($70.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.03 546.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 534.25 Td (as compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.03 534.25 Td ($928.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.92 534.25 Td ( of revenues and net income of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.71 534.25 Td ($73.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.60 534.25 Td ( in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.10 534.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.08 534.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.89 534.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.49 534.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (In the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.55 514.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.53 514.25 Td (-month periods ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.23 514.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.83 514.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.27 514.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.27 514.25 Td (, the value of net contracts signed was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.94 514.25 Td ($1.24 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.06 514.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.89 514.25 Td (1,522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.39 514.25 Td ( homes\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 502.25 Td ($1.09 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.05 502.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.88 502.25 Td (1,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.38 502.25 Td ( homes\), respectively) Tj ET Q q 0 0 0 rg BT 230.98 502.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.25 Td (The value of our backlog at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.73 482.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.33 482.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.88 482.25 Td ($4.35 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.00 482.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.83 482.25 Td (5,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.33 482.25 Td ( homes\), as compared to our backlog at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 482.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.60 482.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 470.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 470.25 Td ($3.66 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.94 470.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.77 470.25 Td (4,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.27 470.25 Td ( homes\). Our backlog at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.14 470.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.84 470.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.39 470.25 Td ($3.98 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.51 470.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.34 470.25 Td (4,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.84 470.25 Td ( homes\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 450.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 450.25 Td (, we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.20 450.25 Td ($373.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.09 450.25 Td ( of cash and cash equivalents on hand and approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.57 450.25 Td ($932.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.46 450.25 Td ( available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.25 Td (under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.10 438.25 Td ($1.295 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.21 438.25 Td ( revolving credit facility \(the New Credit Facility\) that matures in May 2021. ) Tj ET Q q 0 0 0 rg BT 466.01 438.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.51 438.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.11 438.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.25 Td (we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.10 426.25 Td ($250.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.99 426.25 Td ( of outstanding borrowings and outstanding letters of credit of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.76 426.25 Td ($1) Tj ET Q q 0 0 0 rg BT 460.39 426.25 Td (12.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.28 426.25 Td ( under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.25 Td (New Credit Facility) Tj ET Q q 0 0 0 rg BT 128.78 414.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 394.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 394.25 Td (, we owned or controlled through options approximately 47,800 home sites, as compared to approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (43,800 at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.72 382.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.32 382.25 Td (; 48,800 at October31, 2016; and 44,300 at October31, 2015. Of the approximately 47,800 total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (home sites that we owned or controlled through options at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.96 370.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.55 370.25 Td (, we owned approximately 33,800 and controlled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (approximately 14,000 through options. Of the 47,800 home sites owned or controlled through options, approximately 18,600 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (were substantially improved. In addition, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.63 346.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.22 346.25 Td (, we expect to purchase approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.55 346.25 Td (3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 346.25 Td ( additional home sites ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (over a number of years from several joint ventures in which we have interests, at prices not yet determined. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 314.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 314.25 Td (, we were selling from 321 communities, compared to 291 at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.87 314.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.47 314.25 Td (; 310 at October 31, 2016; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.25 Td (and 288 at October31, 2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 282.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 282.25 Td (, our total stockholders) Tj ET Q q 0 0 0 rg BT 225.34 282.25 Td ( equity and our debt to total capitalization ratio were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.49 282.25 Td ($4.32 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.60 282.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.04 282.25 Td (0.46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.54 282.25 Td ( to 1.00, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 270.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (In November 2016, we acquired substantially all of the assets and operations of Coleman Real Estate Holdings, LLC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (\(Coleman\) for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.30 238.25 Td ($85.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.19 238.25 Td ( in cash. ) Tj ET Q q 0 0 0 rg BT 207.56 238.25 Td (The assets acquired were primarily inventory) Tj ET Q q 0 0 0 rg BT 387.68 238.25 Td (, including approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.21 238.25 Td (1,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.71 238.25 Td ( home sites ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (owned or controlled through land purchase agreements. ) Tj ET Q q 0 0 0 rg BT 274.38 226.25 Td (As part of the acquisition, we assumed contracts to deliver ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.70 226.25 Td (128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.70 226.25 Td ( homes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (with an aggregate value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.56 214.25 Td ($38.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.46 214.25 Td (. ) Tj ET Q q 0 0 0 rg BT 217.28 214.25 Td (The average price of the undelivered homes at the date of acquisition was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 202.25 Td ($303,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.76 202.25 Td (. Our selling community count increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.50 202.25 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.50 202.25 Td ( communities at the acquisition date.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 182.25 Td (Our Business Environment and Current Outlook ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.25 Td (The current housing market continues to strengthen and grow) Tj ET Q q 0 0 0 rg BT 295.40 162.25 Td (. Since the third quarter of fiscal 2014 through January 31, 2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.25 Td (the end of our first quarter of fiscal 2017, we saw a general strengthening in customer demand. In the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.37 150.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.35 150.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.60 138.25 Td (, we signed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.37 138.25 Td (1,522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.87 138.25 Td ( contracts with an aggregate value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.53 138.25 Td ($1.24 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.64 138.25 Td (, compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.84 138.25 Td (1,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.34 138.25 Td ( contracts with an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.25 Td (aggregate value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.35 126.25 Td ($1.09 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.46 126.25 Td ( in the comparable period of fiscal 2016. In fiscal 2016, we signed 6,719 contracts with an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.25 Td (aggregate value of $5.65 billion, compared to 5,910 contracts with an aggregate value of $4.96 billion in fiscal 2015, and 5,271 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.25 Td (contracts with an aggregate value of $3.90 billion in fiscal 2014. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 82.25 Td (otal housing starts in the United States rose in 2016 to approximately 1.2 million, the highest level since 2007. Housing starts, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (which encompass the units needed for household formations, second homes, and the replacement of obsolete or demolished ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (units, have not kept pace with this projected household growth. ) Tj ET Q q 0 0 0 rg BT 304.95 58.25 Td (According to the Census Bureau) Tj ET Q q 0 0 0 rg BT 437.70 58.25 Td (s January 2017 New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (Residential Sales Report, new home inventory stands at a supply of just 5.8 months, based on current sales paces. If demand ) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (and pace increase significantly) Tj ET Q q 0 0 0 rg BT 172.35 742.10 Td (, the supply of 5.8 months could quickly be depleted. ) Tj ET Q q 0 0 0 rg BT 386.48 742.10 Td (According to the Census Bureau, during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the period 1970 through 2007, total housing starts in the United States averaged approximately 1.6 million per year) Tj ET Q q 0 0 0 rg BT 510.33 730.10 Td (, while ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (during the period 2008 through 2016, total housing starts averaged approximately 0.85 million per year) Tj ET Q q 0 0 0 rg BT 462.69 718.10 Td (. In addition, according ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (to Harvard University) Tj ET Q q 0 0 0 rg BT 140.53 706.10 Td (s 2016 report, The State of the Nation) Tj ET Q q 0 0 0 rg BT 298.82 706.10 Td (s Housing, demographic forces are likely to drive the addition of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (approximately 1.3 million new households per year during the next decade.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 674.10 Td (e believe that, as the national economy continues to improve and as the millennial generation comes of age, pent-up demand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.10 Td (for homes will continue to be released. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 642.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 642.10 Td (e believe that the demographics of the move-up, empty-nester) Tj ET Q q 0 0 0 rg BT 305.65 642.10 Td (, active-adult/age-qualified, and second-home upscale markets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 630.10 Td (will provide us with an opportunity for growth in the future, and that our financial strength and portfolio of approved home ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 618.10 Td (sites give us a competitive advantage. ) Tj ET Q q 0 0 0 rg BT 203.38 618.10 Td (W) Tj ET Q q 0 0 0 rg BT 212.02 618.10 Td (e continue to believe that many of our communities are in desirable locations that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 606.10 Td (ficult to replace and that many of these communities have substantial embedded value that may be realized in the future as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 594.10 Td (the housing recovery strengthens. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (RESUL) Tj ET Q q 0 0 0 rg BT 82.43 574.10 Td (TS OF) Tj ET Q q 0 0 0 rg BT 110.67 574.10 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 147.43 574.10 Td (TIONS OVER) Tj ET Q q 0 0 0 rg BT 217.09 574.10 Td (VIEW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.10 Td (The following table sets forth, for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.18 554.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.17 554.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.99 554.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.59 554.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.03 554.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.03 554.10 Td (, a comparison of certain items in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.10 Td (Condensed Consolidated Statements of Operations and Comprehensive Income and other supplemental information \($ amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.10 Td (in millions, unless otherwise stated\). For more information regarding results of operations by operating segment, see ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.10 Td (Segments in this MD&A.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 469.60 351.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 469.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 469.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 469.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 469.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 469.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 443.60 351.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 443.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 443.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 443.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 443.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 443.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 417.60 351.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 417.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 417.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 417.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 417.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 417.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 391.60 351.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 391.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 391.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 391.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 391.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 391.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 365.60 351.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 365.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 365.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 365.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 365.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 365.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 339.60 351.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 339.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 339.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 339.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 339.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 339.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 313.60 351.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 313.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 313.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 313.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 313.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 313.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 285.60 351.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 285.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 285.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 285.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 285.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 285.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 259.60 351.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 259.60 54.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 259.60 4.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 259.60 54.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 259.60 4.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 259.60 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 236.60 351.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 236.60 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 236.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 236.60 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 236.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 236.60 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 201.60 351.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 201.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 201.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 201.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 201.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 201.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 175.60 351.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 175.60 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 175.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 175.60 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 175.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 175.60 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 140.60 351.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 140.60 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 140.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 140.60 54.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 140.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 140.60 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 102.60 351.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 102.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 102.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 102.60 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 102.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 102.60 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 494.6 m 455.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 494.6 m 459.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 494.6 m 513.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 494.6 m 517.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 494.6 m 562.5 494.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 469.6 m 455.5 469.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 469.6 m 513.5 469.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 469.6 m 562.5 469.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 456.6 m 455.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 456.6 m 513.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 456.6 m 562.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 456.6 m 562.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 430.6 m 455.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 430.6 m 513.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 430.6 m 562.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 430.6 m 455.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 417.6 m 455.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 417.6 m 513.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 417.6 m 562.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 417.6 m 455.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 365.6 m 455.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 365.6 m 513.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 365.6 m 562.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 339.6 m 455.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 339.6 m 513.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 339.6 m 562.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 327.6 m 455.5 327.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 325.6 m 455.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 327.6 m 513.5 327.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 325.6 m 513.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 327.6 m 562.5 327.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 325.6 m 562.5 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 115.60000000000002 m 455.5 115.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 115.60000000000002 m 513.5 115.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 115.60000000000002 m 562.5 115.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 498.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.35 498.17 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 474.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 474.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.00 474.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 484.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.20 474.27 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 460.17 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 460.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 460.17 Td (920.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 460.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 460.17 Td (928.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 460.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 460.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 447.17 Td (Cost of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 447.17 Td (733.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 447.17 Td (712.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 447.17 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 447.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 434.17 Td (Selling, general and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 434.17 Td (137.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 434.17 Td (121.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 434.17 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 434.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 421.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 421.17 Td (870.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 421.17 Td (834.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 421.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 421.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 408.17 Td (Income from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 408.17 Td (50.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 408.17 Td (94.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 408.17 Td (\(46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 408.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 395.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 395.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 395.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 382.17 Td (Income from unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 382.17 Td (46.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 382.17 Td (8.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 382.17 Td (438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 369.17 Td (Other income net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 369.17 Td (12.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 369.17 Td (13.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 369.17 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 369.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 356.17 Td (Incomebefore income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 356.17 Td (109.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 356.17 Td (116.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 356.17 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 356.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 343.17 Td (Income tax provision) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 343.17 Td (39.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 343.17 Td (43.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 343.17 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 343.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 330.17 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 330.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 330.17 Td (70.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 330.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 330.17 Td (73.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 330.17 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 330.17 Td (\)%) 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 53 302.76259765625 m 168.83984375 302.76259765625 l s q 0 0 0 rg BT 53.00 304.33 Td (Supplemental information:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 290.27 Td (Cost of revenues as a percentage of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 290.27 Td (79.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 290.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 290.27 Td (76.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 290.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 276.17 Td (SG&A as a percentage of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 276.17 Td (14.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 276.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 276.17 Td (13.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 276.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 263.17 Td (Effective tax rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 263.17 Td (35.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 263.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 263.17 Td (37.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 263.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 240.17 Td (Deliveries units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 240.17 Td (1,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 240.17 Td (1,063) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 240.17 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 240.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 226.27 Td (Deliveries average selling price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 216.27 Td ( \($ amount in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 216.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 216.27 Td (773.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 216.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 216.27 Td (873.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 216.27 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 216.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 192.17 Td (Net contracts signed value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 192.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.60 192.17 Td (1,243.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 192.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.60 192.17 Td (1,087.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 192.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 192.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 179.17 Td (Net contracts signed units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 179.17 Td (1,522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 179.17 Td (1,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 179.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 179.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 165.27 Td (Net contracts signed average selling price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 155.27 Td ( \($ amount in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 155.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 155.27 Td (816.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 155.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 155.27 Td (869.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 155.27 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 155.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.95 130.27 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 120.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.95 130.27 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.00 120.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 130.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.20 120.27 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 106.17 Td (Backlog value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 106.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.60 106.17 Td (4,345.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 106.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.60 106.17 Td (3,662.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 106.17 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 106.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 93.17 Td (Backlog units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 93.17 Td (5,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 93.17 Td (4,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 93.17 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 93.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 79.27 Td (Backlog average selling price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 69.27 Td ( \($ amount in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 69.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.15 69.27 Td (844.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 69.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 69.27 Td (861.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 69.27 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 69.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 45.10 Td (Note: Due to rounding, amounts may not add.) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Revenues and Cost of Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 722.25 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.46 722.25 Td ( in revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.15 722.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.14 722.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.96 722.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.56 722.25 Td (, as compared to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.31 722.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.30 722.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.12 722.25 Td (January31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 710.25 Td (, was primarily attributable to an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.02 710.25 Td (1) Tj ET Q q 0 0 0 rg BT 207.65 710.25 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.98 710.25 Td ( decrease in the average price of the homes delivered due to a decrease in the number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.25 Td (of homes delivered in the metro New ) Tj ET Q q 0 0 0 rg BT 200.97 698.25 Td (Y) Tj ET Q q 0 0 0 rg BT 207.19 698.25 Td (ork City market, where average prices were higher) Tj ET Q q 0 0 0 rg BT 409.48 698.25 Td (, of) Tj ET Q q 0 0 0 rg BT 422.63 698.25 Td (fset, in part, by a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.33 698.25 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.66 698.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.16 698.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.91 698.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 686.25 Td (the number of homes delivered primarily due to a higher backlog at October 31, 2016, as compared to October 31, 2015. ) Tj ET Q q 0 0 0 rg BT 534.96 686.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.25 Td (increase in cost of revenues as a percentage of revenues in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.44 674.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.42 674.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.25 674.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.85 674.25 Td ( was due primarily to fewer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.25 Td (closings in our City Living buildings where mar) Tj ET Q q 0 0 0 rg BT 242.30 662.25 Td (gins are higher) Tj ET Q q 0 0 0 rg BT 301.32 662.25 Td (, the impact of purchase accounting for the homes sold from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.25 Td (Coleman acquisition, and an increase in inventory impairment and write-of) Tj ET Q q 0 0 0 rg BT 350.28 650.25 Td (fs in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.16 650.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.16 650.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 638.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 638.25 Td ( period. ) Tj ET Q q 0 0 0 rg BT 102.87 638.25 Td (This increase was partially of) Tj ET Q q 0 0 0 rg BT 220.42 638.25 Td (fset by lower interest expense. In the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.97 638.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.97 638.25 Td ( and fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.56 638.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.56 638.25 Td ( periods, interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 626.25 Td (expense as a percentage of revenues was 3.0% and 3.4%, respectively) Tj ET Q q 0 0 0 rg BT 328.96 626.25 Td (, and we recognized inventory impairments and write-of) Tj ET Q q 0 0 0 rg BT 553.70 626.25 Td (fs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 614.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 614.25 Td ($4.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.72 614.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.16 614.25 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.05 614.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 230.71 614.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 594.25 Td (Selling, General and ) Tj ET Q q 0 0 0 rg BT 138.90 594.25 Td (Administrative Expenses \(SG&A\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (SG&A) Tj ET Q q 0 0 0 rg BT 77.23 574.25 Td ( spending increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.09 574.25 Td ($15.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.99 574.25 Td ( in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.48 574.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.47 574.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.28 574.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.88 574.25 Td (, as compared to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.62 574.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.61 574.25 Td (-month ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.42 562.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.02 562.25 Td (. ) Tj ET Q q 0 0 0 rg BT 177.47 562.25 Td (As a percentage of revenues, SG&A) Tj ET Q q 0 0 0 rg BT 322.42 562.25 Td ( increased to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.45 562.25 Td (14.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.28 562.25 Td ( in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.93 562.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.93 562.25 Td ( period, from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.92 562.25 Td (13.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.75 562.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.15 550.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.15 550.25 Td ( period. ) Tj ET Q q 0 0 0 rg BT 152.02 550.25 Td (The increase in SG&A) Tj ET Q q 0 0 0 rg BT 242.83 550.25 Td ( as a percentage of revenues in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.91 550.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.91 550.25 Td ( period was due to SG&A) Tj ET Q q 0 0 0 rg BT 529.96 550.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (spending increasing by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.70 538.25 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.03 538.25 Td ( while revenues decreased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.20 538.25 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.53 538.25 Td ( from the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.84 538.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.84 538.25 Td ( period. ) Tj ET Q q 0 0 0 rg BT 399.71 538.25 Td (The dollar increase in SG&A) Tj ET Q q 0 0 0 rg BT 516.34 538.25 Td ( was due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (primarily to increased compensation costs due to a higher number of employees and increased sales and marketing costs. ) Tj ET Q q 0 0 0 rg BT 536.06 526.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (higher sales and marketing costs were the result of the increased spending on advertising, model operating costs, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (commissions. ) Tj ET Q q 0 0 0 rg BT 107.05 502.25 Td (The increased number of employees was due primarily to the increase in the number of operating communities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (that we had in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.74 490.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.74 490.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.70 490.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.70 490.25 Td ( period. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 470.25 Td (Income fr) Tj ET Q q 0 0 0 rg BT 91.75 470.25 Td (om Unconsolidated Entities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 450.25 Td (e recognize our proportionate share of the earnings and losses from the various unconsolidated entities in which we have an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.25 Td (investment. Some of our unconsolidated entities are land development projects or high-rise/mid-rise condominium construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.25 Td (projects, which do not generate revenues and earnings for a number of years during the development of the property) Tj ET Q q 0 0 0 rg BT 513.91 426.25 Td (. Once ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.25 Td (development is complete, these unconsolidated entities will generally) Tj ET Q q 0 0 0 rg BT 327.05 414.25 Td (, over a relatively short period of time, generate revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.25 Td (and earnings until all of the assets of the entity are sold. Because there is not a steady flow of revenues and earnings from these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.25 Td (entities, the earnings recognized from these entities may vary significantly from quarter to quarter and year to year) Tj ET Q q 0 0 0 rg BT 507.61 390.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (The increase in income from unconsolidated entities for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.75 370.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.74 370.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.55 370.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 370.25 Td (, as compared to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.99 358.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.80 358.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.39 358.25 Td (, was due mainly to higher income from two of our Home Building Joint ) Tj ET Q q 0 0 0 rg BT 517.23 358.25 Td (V) Tj ET Q q 0 0 0 rg BT 523.34 358.25 Td (entures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (located in New ) Tj ET Q q 0 0 0 rg BT 112.66 346.25 Td (Y) Tj ET Q q 0 0 0 rg BT 118.88 346.25 Td (ork City and a $6.2 million gain recognized related to the sale of 50% of our ownership interests in one of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (Rental Property Joint ) Tj ET Q q 0 0 0 rg BT 137.31 334.25 Td (V) Tj ET Q q 0 0 0 rg BT 143.42 334.25 Td (entures located in the suburbs of Philadelphia, Pennsylvania. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 314.25 Td (Other) Tj ET Q q 0 0 0 rg BT 75.37 314.25 Td ( Income Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.25 Td (The table below provides, for the periods indicated, the components of Other income net \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 245.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 245.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 245.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 245.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 219.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 219.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 219.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 219.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 193.75 392.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.50 193.75 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 193.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 193.75 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 258.75 m 499.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 258.75 m 503.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 258.75 m 561.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 258.75 m 499.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 245.75 m 499.5 245.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 258.75 m 503.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 258.75 m 561.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 245.75 m 561.5 245.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 245.75 m 499.5 245.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 245.75 m 561.5 245.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 180.75 m 499.5 180.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 180.75 m 561.5 180.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 180.75 m 499.5 180.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 168.75 m 499.5 168.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 166.75 m 499.5 166.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 180.75 m 561.5 180.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 168.75 m 561.5 168.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 166.75 m 561.5 166.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 273.42 Td (Three months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.95 263.42 Td (January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.00 249.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 249.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 236.32 Td (Income from ancillary businesses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 236.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 236.32 Td (2,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 236.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 236.32 Td (3,729) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 223.32 Td (Gibraltar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.30 223.37 Td (\(62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.65 223.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 223.32 Td (828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 210.32 Td (Management fee income from unconsolidated entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 210.32 Td (4,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 210.32 Td (2,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 197.32 Td (Income from land sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 197.32 Td (3,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 197.32 Td (3,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 184.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 184.32 Td (2,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 184.32 Td (3,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 171.32 Td (Total other income net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 171.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 171.32 Td (12,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 171.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 171.32 Td (13,720) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 50.00 155.18 25.55 -9.09 re f /GS0 gs q 0 0 0 rg BT 50.00 148.25 Td (In the ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 75.55 155.18 19.99 -9.09 re f /GS0 gs q 0 0 0 rg BT 75.55 148.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 95.53 155.18 58.33 -9.09 re f /GS0 gs q 0 0 0 rg BT 95.53 148.25 Td ( months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.86 148.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.36 148.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 224.96 155.18 222.17 -9.09 re f /GS0 gs q 0 0 0 rg BT 224.96 148.25 Td (, our security monitoring business recognized a gain of ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 447.12 155.18 48.89 -9.09 re f /GS0 gs q 0 0 0 rg BT 447.12 148.25 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 496.02 155.18 39.98 -9.09 re f /GS0 gs q 0 0 0 rg BT 496.02 148.25 Td ( related to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.00 148.25 Td ( a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.25 Td (bulk sale of security monitoring accounts in fiscal 2015, which is included in income from ancillary businesses above. ) Tj ET Q q 0 0 0 rg BT 525.26 136.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.25 Td (increase in management fee income from unconsolidated entities in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.27 124.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.27 124.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.23 124.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.23 124.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (period, was mainly due to management fees earned on the closing of homes at two of our Home Building Joint ) Tj ET Q q 0 0 0 rg BT 495.55 112.25 Td (V) Tj ET Q q 0 0 0 rg BT 501.67 112.25 Td (entures located ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (in New ) Tj ET Q q 0 0 0 rg BT 81.29 100.25 Td (Y) Tj ET Q q 0 0 0 rg BT 87.51 100.25 Td (ork City) Tj ET Q q 0 0 0 rg BT 119.92 100.25 Td (, which commenced closing homes in the fourth quarter of fiscal 2016.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 80.25 Td (Income Befor) Tj ET Q q 0 0 0 rg BT 107.86 80.25 Td (e Income ) Tj ET Q q 0 0 0 rg BT 148.77 80.25 Td (T) Tj ET Q q 0 0 0 rg BT 154.53 80.25 Td (axes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.25 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.11 60.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.09 60.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.90 60.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.50 60.25 Td (, we reported income before income taxes of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.26 60.25 Td ($109.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 60.25 Td (, as compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.25 Td ($1) Tj ET Q q 0 0 0 rg BT 59.63 48.25 Td (16.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.52 48.25 Td ( in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.02 48.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.00 48.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.81 48.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.41 48.25 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 31.60 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 83.98 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 89.73 742.25 Td (ax Pr) Tj ET Q q 0 0 0 rg BT 112.60 742.25 Td (ovision) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 722.25 Td (e recognized an income tax provision of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.64 722.25 Td ($39.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.53 722.25 Td ( in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.02 722.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.01 722.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.82 722.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.42 722.25 Td (. Based upon the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.25 Td (federal statutory rate of 35%, our federal tax provision would have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.73 710.25 Td ($38.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.62 710.25 Td (. ) Tj ET Q q 0 0 0 rg BT 399.44 710.25 Td (The dif) Tj ET Q q 0 0 0 rg BT 428.41 710.25 Td (ference between the tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.25 Td (provision recognized and the tax provision based on the federal statutory rate was mainly due to the provision for state income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 686.25 Td (taxes and interest accrued on anticipated tax assessments, partially of) Tj ET Q q 0 0 0 rg BT 326.39 686.25 Td (fset by tax benefits related to the utilization of domestic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.25 Td (production activities deductions and other dif) Tj ET Q q 0 0 0 rg BT 231.16 674.25 Td (ferences.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 654.25 Td (In the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.55 654.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.53 654.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.34 654.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.94 654.25 Td (, we recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.46 654.25 Td ($43.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.36 654.25 Td ( of income tax provision. Based upon the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 642.25 Td (federal statutory rate of 35%, our federal tax provision would have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.73 642.25 Td ($40.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.62 642.25 Td ( in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.11 642.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.10 642.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 630.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.60 630.25 Td (. ) Tj ET Q q 0 0 0 rg BT 123.42 630.25 Td (The dif) Tj ET Q q 0 0 0 rg BT 152.39 630.25 Td (ference between the tax provision recognized and the tax provision based on the federal statutory rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 618.25 Td (was due primarily to the provision for state income taxes and interest accrued on anticipated tax assessments, of) Tj ET Q q 0 0 0 rg BT 497.46 618.25 Td (fset by tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.25 Td (benefits related to the utilization of domestic production activities deductions and other permanent dif) Tj ET Q q 0 0 0 rg BT 457.20 606.25 Td (ferences. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.25 Td (The aggregate value of net contracts signed increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.57 566.25 Td ($156.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.46 566.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.29 566.25 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.62 566.25 Td (, in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.61 566.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.60 566.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.41 566.25 Td (January31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 554.25 Td (, as compared to the prior year period. In the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.49 554.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.47 554.25 Td (-month periods ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.18 554.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.77 554.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.21 554.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.21 554.25 Td (, the value of net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.25 Td (contracts signed was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.25 542.25 Td ($1.24 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.37 542.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.20 542.25 Td (1,522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.70 542.25 Td ( homes\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.07 542.25 Td ($1.09 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.19 542.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.02 542.25 Td (1,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.52 542.25 Td ( homes\), respectively) Tj ET Q q 0 0 0 rg BT 430.12 542.25 Td (. ) Tj ET Q q 0 0 0 rg BT 434.94 542.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.98 542.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.74 542.25 Td ( in the aggregate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.25 Td (value of net contracts signed in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.05 530.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.05 530.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.01 530.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.01 530.25 Td ( period, was the result of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.31 530.25 Td (22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.64 530.25 Td ( increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.25 Td (in the number of net contracts signed, of) Tj ET Q q 0 0 0 rg BT 211.44 518.25 Td (fset, in part, by a 6% decrease in the average value of each contract signed. ) Tj ET Q q 0 0 0 rg BT 513.90 518.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 506.25 Td (increase in the number of net contracts signed was the result of increased demand and to an increase in the number of selling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 494.25 Td (communities in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.31 494.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.31 494.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.26 494.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.26 494.25 Td ( period. ) Tj ET Q q 0 0 0 rg BT 361.13 494.25 Td (The decline in average price in the first quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.25 Td (fiscal 2017, as compared to the first quarter of fiscal 2017, was primarily due to the inclusion of the sale of 60 homes from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 470.25 Td (Coleman in the 2017 period at an average selling price of $341,000, a decrease in the number of contracts signed in our City ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.25 Td (Living division, and an increase in the number of multi-family product contracts, primarily in the North and Mid-Atlantic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.25 Td (regions, which generally are a lower priced product.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 426.25 Td (Backlog) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (The increase in the value of our backlog at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.98 406.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.58 406.25 Td (, as compared to the backlog at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.20 406.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.80 406.25 Td (, was primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (attributable to the 14% higher value of backlog at October 31, 2016, as compared to the backlog at October 31, 2015, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.33 382.25 Td ( increase in the value of net contracts signed in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.98 382.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.96 382.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.77 382.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.37 382.25 Td (, as compared to the value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (of net contracts signed in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.74 370.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.73 370.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.54 370.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.14 370.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.25 Td (The value of our backlog at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.73 350.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.33 350.25 Td ( increased 19% to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.20 350.25 Td ($4.35 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.31 350.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.14 350.25 Td (5,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.64 350.25 Td ( homes\), as compared to our backlog at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.25 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.60 338.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.93 338.25 Td ($3.66 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.04 338.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.87 338.25 Td (4,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.37 338.25 Td ( homes\). Our backlog at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.23 338.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.94 338.25 Td ( and 2015 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.93 338.25 Td ($3.98 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.04 338.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.88 338.25 Td (4,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.38 338.25 Td ( homes\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.25 Td (and $3.50 billion \(4,064 homes\), respectively) Tj ET Q q 0 0 0 rg BT 230.98 326.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.25 Td (For more information regarding results of operations by operating segment, see Segments in this MD&A.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 80.37 286.25 Td (AL) Tj ET Q q 0 0 0 rg BT 93.71 286.25 Td ( RESOURCES ) Tj ET Q q 0 0 0 rg BT 159.29 286.25 Td (AND LIQUIDITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.25 Td (Funding for our business has been, and continues to be, provided principally by cash flow from operating activities before ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.25 Td (inventory additions, unsecured bank borrowings, and the public debt and equity markets. ) Tj ET Q q 0 0 0 rg BT 407.42 254.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.92 254.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.52 254.25 Td (, we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.62 254.25 Td ($373.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 242.25 Td ( of cash and cash equivalents. ) Tj ET Q q 0 0 0 rg BT 199.69 242.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.19 242.25 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.89 242.25 Td (, we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.99 242.25 Td ($633.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.88 242.25 Td ( of cash and cash equivalents. Cash provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.25 Td (by operating activities during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.69 230.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.67 230.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.48 230.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.08 230.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.63 230.25 Td ($42.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.53 230.25 Td (. Cash provided by operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.25 Td (activities during the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.08 218.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.08 218.25 Td ( period was primarily related to net income before stock-based compensation, inventory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.25 Td (impairments, and depreciation and amortization; an increase in mortgage loans sold, net of mortgage loans originated; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.25 Td (decreases in restricted cash and investments; and an increase in customer deposits; of) Tj ET Q q 0 0 0 rg BT 390.82 194.25 Td (fset, in part, by an increase in inventory; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.25 Td (and decreases in accounts payable, accrued expenses, and income taxes payable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.25 Td (In the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.55 162.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.53 162.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.34 162.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.94 162.25 Td (, cash used in investing activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.13 162.25 Td ($156.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.03 162.25 Td (. Cash used in investing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.25 Td (activities was primarily related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.34 150.25 Td ($99.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.23 150.25 Td ( used to fund our investments in unconsolidated entities, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.98 150.25 Td ($85.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.87 150.25 Td ( to used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.25 Td (to acquire Coleman, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.24 138.25 Td ($6.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.14 138.25 Td ( for the purchase of property and equipment. ) Tj ET Q q 0 0 0 rg BT 379.73 138.25 Td (This was of) Tj ET Q q 0 0 0 rg BT 426.21 138.25 Td (fset, in part, by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.97 138.25 Td ($35.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.86 138.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.25 Td (cash received as returns on our investments in unconsolidated entities, foreclosed real estate, and distressed loans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 106.25 Td (e used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.41 106.25 Td ($145.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.30 106.25 Td ( of cash from financing activities in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.69 106.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.68 106.25 Td (-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.49 106.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.09 106.25 Td ( primarily for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (repayment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.53 94.25 Td ($156.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.42 94.25 Td ( of loans payable, net of repayments and the repurchase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.89 94.25 Td ($15.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.78 94.25 Td ( of our common stock, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 82.25 Td (fset, in part, by the proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.50 82.25 Td ($25.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.39 82.25 Td ( from our stock-based benefit plans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 62.25 Td (At January31, 2016, we had $336.2 million of cash and cash equivalents. ) Tj ET Q q 0 0 0 rg BT 346.88 62.25 Td (At October31, 2015, we had $919.0 million of cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 50.25 Td (and cash equivalents and $10.0 million of marketable securities. Cash used in operating activities during the three-month period ) 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 31.60 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (ended January31, 2016, was $23.2 million. Cash used in operating activities during the fiscal 2016 period was primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (related to the purchase of inventory and increases in restricted cash and receivables, prepaid expenses, and other assets, of) Tj ET Q q 0 0 0 rg BT 537.68 730.10 Td (fset, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (in part, by net income before stock-based compensation, inventory impairments, and depreciation and amortization; the sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (mortgage loans to outside investors, net of mortgage loans originated; an increase in customer deposits; an increase in accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (payable and accrued expenses; and an increase in income taxes payable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.10 Td (In the three-month period ended January31, 2016, cash provided by investing activities was $16.0 million. ) Tj ET Q q 0 0 0 rg BT 480.28 674.10 Td (The cash provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.10 Td (by investing activities was primarily related to $20.1 million of cash received as returns on our investments in unconsolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.10 Td (entities, foreclosed real estate, and distressed loans and $10.0 million of proceeds from the sale of marketable securities. ) Tj ET Q q 0 0 0 rg BT 532.99 650.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 638.10 Td (was of) Tj ET Q q 0 0 0 rg BT 76.20 638.10 Td (fset, in part, by $12.5 million used to fund our investments in unconsolidated entities, foreclosed real estate, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 626.10 Td (distressed loans, and $1.6 million for the purchase of property and equipment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 606.10 Td (e used $575.5 million of cash from financing activities in the three-month period ended January31, 2016 primarily for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 594.10 Td (repayment of $430.7 million of loans payable, net of new borrowings and the repurchase of $150.1 million of our common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 582.10 Td (stock, of) Tj ET Q q 0 0 0 rg BT 84.26 582.10 Td (fset, in part, by proceeds of $4.8 million from our stock-based benefit plans. Subsequent to January 31, 2016, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 570.10 Td (repurchased approximately 2.0 million additional shares of our common stock.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (In general, our cash flow from operating activities assumes that, as each home is delivered, we will purchase a home site to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (replace it. Because we own a supply of several years of home sites, we do not need to buy home sites immediately to replace ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (those that we deliver) Tj ET Q q 0 0 0 rg BT 132.48 526.10 Td (. In addition, we generally do not begin construction of our detached homes until we have a signed contract ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (with the home buyer) Tj ET Q q 0 0 0 rg BT 132.08 514.10 Td (, although in the past several years, due to the increase in the number of attached-home communities from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (which we were operating \(all of the units of which are generally not sold before the commencement of construction\), the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (number of speculative homes in our inventory increased significantly) Tj ET Q q 0 0 0 rg BT 326.49 490.10 Td (. Should our business remain at its current level or decline, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (we believe that our inventory levels would decrease as we complete and deliver the homes under construction but do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (commence construction of as many new homes, as we complete the improvements on the land we already own, and as we sell ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (and deliver the speculative homes that are currently in inventory) Tj ET Q q 0 0 0 rg BT 306.76 454.10 Td (, resulting in additional cash flow from operations. In addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (we might delay) Tj ET Q q 0 0 0 rg BT 111.00 442.10 Td (, decrease, or curtail our acquisition of additional land, as we did during the period from ) Tj ET Q q 0 0 0 rg BT 465.06 442.10 Td (April 2006 through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (January 2010, which would further reduce our inventory levels and cash needs. ) Tj ET Q q 0 0 0 rg BT 368.79 430.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.29 430.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.89 430.10 Td (, we owned or controlled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (through options approximately 47,800 home sites, of which we owned approximately 33,800. Of our owned home sites at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.60 406.10 Td (, significant improvements were completed on approximately 18,600 of them. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 386.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 386.10 Td (, the aggregate purchase price of land parcels under option and purchase agreements was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.10 Td ($1.44 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.11 374.10 Td ( \(including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.22 374.10 Td ($54.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.11 374.10 Td ( of land to be acquired from joint ventures in which we have invested\). Of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.62 374.10 Td ($1.44 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.10 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.11 362.10 Td ( of land purchase commitments, we paid or deposited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.17 362.10 Td ($70.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.06 362.10 Td (, and, if we acquire all of these land parcels, we will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.10 Td (be required to pay an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.40 350.10 Td ($1.37 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.51 350.10 Td (. ) Tj ET Q q 0 0 0 rg BT 235.33 350.10 Td (The purchases of these land parcels are scheduled to occur over the next several ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.10 Td (years. In addition, we expect to purchase approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.03 338.10 Td (3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.53 338.10 Td ( additional home sites over a number of years from several joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.10 Td (ventures in which we have interests. ) Tj ET Q q 0 0 0 rg BT 197.28 326.10 Td (W) Tj ET Q q 0 0 0 rg BT 205.91 326.10 Td (e have additional land parcels under option that have been excluded from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.10 Td (aforementioned aggregate purchase amounts since we do not believe that we will complete the purchase of these land parcels ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.10 Td (and no additional funds will be required from us to terminate these contracts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.17 282.10 Td (August 1, 2013, we entered into a $1.035 billion revolving credit facility \(the Credit Facility\) that was scheduled to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td (terminate on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.21 270.10 Td (August 1, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.60 270.10 Td (. On May 19, 2016, we entered into a new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.39 270.10 Td ($1.215 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.50 270.10 Td ( \(subsequently increased to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.58 270.10 Td ($1.295 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.10 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.11 258.10 Td (\), unsecured, five-year revolving credit facility \(the New Credit Facility\) and terminated the Credit Facility) Tj ET Q q 0 0 0 rg BT 511.97 258.10 Td (. Under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.10 Td (terms of the New Credit Facility) Tj ET Q q 0 0 0 rg BT 179.04 246.10 Td (, our maximum leverage ratio \(as defined in the credit agreement\) may not exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.74 246.10 Td (1.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.24 246.10 Td ( to 1.00, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.10 Td (and we are required to maintain a minimum tangible net worth \(as defined in the credit agreement\) of no less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 222.10 Td ($2.64 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.37 222.10 Td (. Under the terms of the New Credit Facility) Tj ET Q q 0 0 0 rg BT 337.62 222.10 Td (, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.34 222.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.94 222.10 Td (, our leverage ratio was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 210.10 Td (0.79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.76 210.10 Td ( to 1.00, and our tangible net worth was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.38 210.10 Td ($4.28 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.49 210.10 Td (. Based upon the minimum tangible net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.10 Td (worth requirement in the New Credit Facility) Tj ET Q q 0 0 0 rg BT 230.42 198.10 Td (, our ability to repurchase our common stock was limited to approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.73 198.10 Td ($2.34 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.10 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.11 186.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.27 186.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.87 186.10 Td (. ) Tj ET Q q 0 0 0 rg BT 173.32 186.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.82 186.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.42 186.10 Td (, we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.52 186.10 Td ($250.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.41 186.10 Td ( outstanding borrowings under our New Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.10 Td (Facility and had outstanding letters of credit of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.21 174.10 Td ($1) Tj ET Q q 0 0 0 rg BT 309.84 174.10 Td (12.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.73 174.10 Td ( under it. Subsequent to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.94 174.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.54 174.10 Td (, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.10 Td (borrowed an additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.25 162.10 Td ($125.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.14 162.10 Td ( under the New Credit Facility) Tj ET Q q 0 0 0 rg BT 325.41 162.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 142.10 Td (e believe that we will have adequate resources and suf) Tj ET Q q 0 0 0 rg BT 275.31 142.10 Td (ficient access to the capital markets and external financing sources to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (continue to fund our current operations and meet our contractual obligations. Due to the uncertainties in the economy and for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (home builders in general, we cannot be certain that we will be able to replace existing financing or find sources of additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (financing in the future.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 86.10 Td (OFF-BALANCE SHEET) Tj ET Q q 0 0 0 rg BT 157.89 86.10 Td ( ) Tj ET Q q 0 0 0 rg BT 159.84 86.10 Td (ARRANGEMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 66.10 Td (e have investments in Land Development Joint ) Tj ET Q q 0 0 0 rg BT 248.69 66.10 Td (V) Tj ET Q q 0 0 0 rg BT 254.80 66.10 Td (entures; Home Building Joint ) Tj ET Q q 0 0 0 rg BT 375.17 66.10 Td (V) Tj ET Q q 0 0 0 rg BT 381.28 66.10 Td (entures; Rental Property Joint ) Tj ET Q q 0 0 0 rg BT 502.75 66.10 Td (V) Tj ET Q q 0 0 0 rg BT 508.86 66.10 Td (entures; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 54.10 Td (Gibraltar Joint ) Tj ET Q q 0 0 0 rg BT 110.36 54.10 Td (V) Tj ET Q q 0 0 0 rg BT 116.47 54.10 Td (entures.) Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Our investments in these entities are accounted for using the equity method of accounting. ) Tj ET Q q 0 0 0 rg BT 413.33 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 421.97 742.10 Td (e are a party to several joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (ventures with unrelated parties to develop and sell land that is owned by the joint ventures. ) Tj ET Q q 0 0 0 rg BT 415.56 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 424.20 730.10 Td (e recognize our proportionate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (share of the earnings from the sale of home sites to other builders, including our joint venture partners. ) Tj ET Q q 0 0 0 rg BT 463.04 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 471.68 718.10 Td (e do not recognize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (earnings from the home sites we purchase from these ventures at the time of our purchase; instead, our cost basis in the home ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (sites is reduced by our share of the earnings realized by the joint venture from sales of those home sites to us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 674.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 674.10 Td (, we had investments in these entities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.01 674.10 Td ($601.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.90 674.10 Td ( and were committed to invest or advance up to an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.49 662.10 Td ($65.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.38 662.10 Td ( to these entities if they require additional funding. ) Tj ET Q q 0 0 0 rg BT 350.78 662.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.28 662.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.88 662.10 Td (, we had agreed to terms for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.10 Td (acquisition of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.21 650.10 Td (138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.21 650.10 Td ( home sites from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.65 650.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.65 650.10 Td ( Land Development Joint ) Tj ET Q q 0 0 0 rg BT 310.33 650.10 Td (V) Tj ET Q q 0 0 0 rg BT 316.45 650.10 Td (entures for an estimated aggregate purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.46 650.10 Td ($54.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 638.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 638.10 Td (. In addition, we expect to purchase approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.82 638.10 Td (3,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.32 638.10 Td ( additional home sites over a number of years from several ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 626.10 Td (joint ventures in which we have interests; the purchase price of these home sites will be determined at a future date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.10 Td (The unconsolidated entities in which we have investments generally finance their activities with a combination of partner ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 594.10 Td (equity and debt financing. In some instances, we and our partners have guaranteed debt of certain unconsolidated entities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 582.10 Td (These guarantees may include any or all of the following: \(i\) project completion guarantees, including any cost overruns; \(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 570.10 Td (repayment guarantees, generally covering a percentage of the outstanding loan; \(iii\) carry cost guarantees, which cover costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 558.10 Td (such as interest, real estate taxes, and insurance; \(iv\) an environmental indemnity provided to the lender that holds the lender ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 546.10 Td (harmless from and against losses arising from the dischar) Tj ET Q q 0 0 0 rg BT 279.21 546.10 Td (ge of hazardous materials from the property and non-compliance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 534.10 Td (applicable environmental laws; and \(v\) indemnification of the lender from bad boy acts of the unconsolidated entity) Tj ET Q q 0 0 0 rg BT 521.42 534.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (In some instances, the guarantees provided in connection with loans to an unconsolidated entity are joint and several. In these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (situations, we generally have a reimbursement agreement with our partner that provides that neither party is responsible for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (more than its proportionate share or agreed-upon share of the guarantee; however) Tj ET Q q 0 0 0 rg BT 375.30 490.10 Td (, if the joint venture partner does not have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (adequate financial resources to meet its obligations under the reimbursement agreement, we may be liable for more than our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (proportionate share. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 446.10 Td (e believe that, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.60 446.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.20 446.10 Td (, in the event we become legally obligated to perform under a guarantee of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 434.10 Td (obligation of an unconsolidated entity due to a triggering event, the collateral in such entity should be suf) Tj ET Q q 0 0 0 rg BT 470.83 434.10 Td (ficient to repay all or a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.10 Td (significant portion of the obligation. If it is not, we and our partners would need to contribute additional capital to the venture. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 410.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.10 410.10 Td (, we have guaranteed the debt of certain unconsolidated entities aggregating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.09 410.10 Td ($1.25 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.20 410.10 Td (, of which we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.10 Td (estimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.82 398.10 Td ($206.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.71 398.10 Td ( to be our maximum exposure related to repayment and carry cost guarantees. ) Tj ET Q q 0 0 0 rg BT 457.38 398.10 Td (At January 31, 2017, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.10 Td (unconsolidated entities had borrowed an aggregate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.31 386.10 Td ($747.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.21 386.10 Td (, of which we estimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.95 386.10 Td ($147.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.85 386.10 Td ( to be our maximum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.10 Td (exposure related to repayment and carry cost guarantees. ) Tj ET Q q 0 0 0 rg BT 279.44 374.10 Td (The terms of these guarantees generally range from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.68 374.10 Td (3 months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.63 374.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.41 374.10 Td (46 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.45 362.10 Td (. ) Tj ET Q q 0 0 0 rg BT 84.27 362.10 Td (These maximum exposure estimates do not take into account any recoveries from the underlying collateral or any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.10 Td (reimbursement from our partners.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (In addition, we have guaranteed approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.76 330.10 Td ($4.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.65 330.10 Td ( of ground lease payments and insurance deductibles for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.08 330.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.07 330.10 Td ( joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (ventures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (For more information regarding these joint ventures, see Note 3, Investments in Unconsolidated Entities, in the Notes to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Condensed Consolidated Financial Statements in this Form 10-Q.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 266.10 Td (CRITICAL) Tj ET Q q 0 0 0 rg BT 99.46 266.10 Td ( ) Tj ET Q q 0 0 0 rg BT 101.41 266.10 Td (ACCOUNTING POLICIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.10 Td (As disclosed in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.44 246.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.44 246.10 Td ( Form 10-K, our most critical accounting policies relate to inventory) Tj ET Q q 0 0 0 rg BT 422.33 246.10 Td (, income taxesvaluation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.10 Td (allowances, revenue and cost recognition, and warranty and self-insurance. Since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.37 234.10 Td (October31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.08 234.10 Td (, there have been no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.10 Td (material changes to those critical accounting policies.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (SEGMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 182.10 Td (e operate in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.78 182.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.78 182.10 Td ( segments: ) Tj ET Q q 0 0 0 rg BT 167.59 182.10 Td (T) Tj ET Q q 0 0 0 rg BT 173.35 182.10 Td (raditional Home Building and City Living. ) Tj ET Q q 0 0 0 rg BT 346.76 182.10 Td (W) Tj ET Q q 0 0 0 rg BT 355.40 182.10 Td (e conduct our ) Tj ET Q q 0 0 0 rg BT 412.14 182.10 Td (T) Tj ET Q q 0 0 0 rg BT 417.90 182.10 Td (raditional Home Building ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.10 Td (operations in five geographic areas around the United States: \(1\) the North, consisting of Connecticut, Illinois, Massachusetts, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.10 Td (Michigan, Minnesota, New Jersey) Tj ET Q q 0 0 0 rg BT 186.26 158.10 Td (, and New ) Tj ET Q q 0 0 0 rg BT 229.21 158.10 Td (Y) Tj ET Q q 0 0 0 rg BT 235.43 158.10 Td (ork; \(2\) the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.10 Td (V) Tj ET Q q 0 0 0 rg BT 56.62 146.10 Td (ir) Tj ET Q q 0 0 0 rg BT 62.55 146.10 Td (ginia; \(3\) the South, consisting of Florida, North Carolina, and ) Tj ET Q q 0 0 0 rg BT 314.83 146.10 Td (T) Tj ET Q q 0 0 0 rg BT 320.24 146.10 Td (exas; \(4\) the ) Tj ET Q q 0 0 0 rg BT 371.99 146.10 Td (W) Tj ET Q q 0 0 0 rg BT 380.63 146.10 Td (est, consisting of ) Tj ET Q q 0 0 0 rg BT 450.07 146.10 Td (Arizona, Colorado, Idaho, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.10 Td (Nevada, and ) Tj ET Q q 0 0 0 rg BT 102.29 134.10 Td (W) Tj ET Q q 0 0 0 rg BT 110.93 134.10 Td (ashington, and \(5\) California.) 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 31.60 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The tables below summarize information related to units delivered and revenues, net contracts signed, and income \(loss\) before ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (income taxes, by segment, for the periods indicated, and information related to backlog, by segment, as of the dates indicated.) 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600.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 600.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 600.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 600.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 600.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 600.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 600.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 600.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 600.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 600.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 600.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.50 600.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 574.60 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.50 574.60 42.00 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 521.6 m 388.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 535.6 m 430.5 535.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 523.6 m 430.5 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 521.6 m 430.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 535.6 m 475.5 535.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 523.6 m 475.5 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 521.6 m 475.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 535.6 m 520.5 535.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 523.6 m 520.5 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 521.6 m 520.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 535.6 m 562.5 535.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 523.6 m 562.5 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 521.6 m 562.5 521.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.85 690.17 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 668.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.55 676.17 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.35 666.22 Td (\($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.20 668.27 Td (Units Delivered) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.95 676.17 Td (A) Tj ET Q q 0 0 0 rg BT 455.43 676.17 Td (verage Delivered Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.75 666.22 Td (\($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.00 644.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.00 644.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.80 654.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.70 644.17 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.50 644.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.50 644.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.80 654.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.70 644.17 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.50 644.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 644.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.80 654.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.70 644.17 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 630.17 Td (Traditional Home Building:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 617.17 Td (North) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.00 617.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 617.17 Td (145.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 617.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 617.17 Td (120.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 617.17 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 617.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 617.17 Td (209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 617.17 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 617.17 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 617.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 617.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 617.17 Td (696.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 617.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 617.17 Td (671.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 617.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 617.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 604.17 Td (Mid-Atlantic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 604.17 Td (184.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 604.17 Td (169.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.30 604.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 604.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 604.17 Td (297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 604.17 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.30 604.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 604.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 604.17 Td (619.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 604.17 Td (608.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 604.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 604.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 591.17 Td (South) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 591.17 Td (142.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 591.17 Td (146.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.95 591.17 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.30 591.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 591.17 Td (190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 591.17 Td (198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.95 591.17 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.30 591.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 591.17 Td (748.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 591.17 Td (741.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 591.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 591.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 578.17 Td (West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 578.17 Td (211.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 578.17 Td (137.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 578.17 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 578.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 578.17 Td (335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 578.17 Td (202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 578.17 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 578.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 578.17 Td (630.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 578.17 Td (679.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 578.17 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 578.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 565.17 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 565.17 Td (219.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 565.17 Td (216.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.30 565.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 565.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 565.17 Td (155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 565.17 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.95 565.17 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.30 565.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.60 565.17 Td (1,417.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.60 565.17 Td (1,364.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 565.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 565.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 552.17 Td ( Traditional Home Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 552.17 Td (902.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 552.17 Td (791.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 552.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 552.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.10 552.17 Td (1,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.10 552.17 Td (1,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 552.17 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 552.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 552.17 Td (761.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 552.17 Td (777.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 552.17 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 552.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 539.17 Td (City Living) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.15 539.17 Td (17.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 539.17 Td (137.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.95 539.17 Td (\(87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.30 539.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.65 539.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.65 539.17 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.95 539.17 Td (\(91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.30 539.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.60 539.17 Td (4,484.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.60 539.17 Td (3,044.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 539.17 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 539.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 526.17 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.00 526.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 526.17 Td (920.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 526.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 526.17 Td (928.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.95 526.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.30 526.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.10 526.17 Td (1,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.10 526.17 Td (1,063) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 526.17 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 526.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 526.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 526.17 Td (773.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 526.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 526.17 Td (873.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 526.17 Td (\(11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 526.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 489.10 Td (Net Contracts Signed:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 404.60 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.50 404.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 404.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 404.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 404.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 404.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 404.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 404.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 404.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 404.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 404.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 404.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 404.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 404.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 404.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 404.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 404.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.50 404.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 378.60 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.50 378.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 378.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 378.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 378.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 378.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 378.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 378.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 378.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 378.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 378.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 378.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 378.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 378.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 378.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 378.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 378.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.50 378.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 352.60 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.50 352.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 352.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 352.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 352.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 352.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 352.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 352.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 352.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 352.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 352.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 352.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 352.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 352.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 352.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 352.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 352.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.50 352.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 326.60 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.50 326.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 326.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 326.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 326.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 326.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 326.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 326.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 326.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 326.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 326.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 326.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 326.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 326.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 326.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 326.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 326.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.50 326.60 38.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 464.6 m 220.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 464.6 m 224.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 464.6 m 266.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 464.6 m 270.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 464.6 m 310.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 464.6 m 314.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 464.6 m 349.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 464.6 m 353.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 464.6 m 388.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 464.6 m 392.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 464.6 m 430.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 464.6 m 434.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 464.6 m 475.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 464.6 m 479.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 464.6 m 520.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 464.6 m 524.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 464.6 m 562.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 464.6 m 220.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 442.6 m 220.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 464.6 m 224.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 442.6 m 224.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 464.6 m 266.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 442.6 m 266.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 464.6 m 270.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 442.6 m 270.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 464.6 m 310.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 442.6 m 310.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 464.6 m 314.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 464.6 m 349.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 442.6 m 349.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 464.6 m 353.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 442.6 m 353.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 464.6 m 388.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 442.6 m 388.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 464.6 m 392.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 442.6 m 392.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 464.6 m 430.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 442.6 m 430.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 464.6 m 434.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 464.6 m 475.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 442.6 m 475.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 464.6 m 479.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 442.6 m 479.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 464.6 m 520.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 442.6 m 520.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 464.6 m 524.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 442.6 m 524.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 464.6 m 562.5 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 442.6 m 562.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 442.6 m 220.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 417.6 m 220.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 442.6 m 224.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 442.6 m 266.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 417.6 m 266.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 442.6 m 270.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 442.6 m 310.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 417.6 m 310.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 442.6 m 349.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 417.6 m 349.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 442.6 m 353.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 442.6 m 388.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 417.6 m 388.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 442.6 m 392.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 442.6 m 430.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 417.6 m 430.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 442.6 m 475.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 417.6 m 475.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 442.6 m 479.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 442.6 m 520.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 417.6 m 520.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 442.6 m 524.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 442.6 m 562.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 417.6 m 562.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 339.6 m 430.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 339.6 m 475.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 339.6 m 220.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 339.6 m 266.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 339.6 m 310.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 339.6 m 349.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 339.6 m 388.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 339.6 m 520.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 339.6 m 562.5 339.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 313.6 m 220.5 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 301.6 m 220.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 299.6 m 220.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 313.6 m 266.5 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 301.6 m 266.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 299.6 m 266.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 313.6 m 310.5 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 301.6 m 310.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 299.6 m 310.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 313.6 m 349.5 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 301.6 m 349.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 299.6 m 349.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 313.6 m 388.5 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 301.6 m 388.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 299.6 m 388.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 313.6 m 430.5 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 301.6 m 430.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 299.6 m 430.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 313.6 m 475.5 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 301.6 m 475.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 299.6 m 475.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 313.6 m 520.5 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 301.6 m 520.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 299.6 m 520.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 313.6 m 562.5 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 301.6 m 562.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 299.6 m 562.5 299.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 469.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.85 469.17 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.75 455.17 Td (Net Contract ) Tj ET Q q 0 0 0 rg BT 259.44 455.17 Td (V) Tj ET Q q 0 0 0 rg BT 265.55 455.17 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.35 445.22 Td (\($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.50 447.27 Td (Net Contracted Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.70 455.17 Td (A) Tj ET Q q 0 0 0 rg BT 453.18 455.17 Td (verage Contracted Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.75 445.22 Td (\($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.00 422.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.00 422.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.80 432.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.70 422.27 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.50 422.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.50 422.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.80 432.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.70 422.27 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.50 422.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 422.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.80 432.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.70 422.27 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 408.17 Td (Traditional Home Building:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 395.17 Td (North) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.00 395.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 395.17 Td (171.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 395.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 395.17 Td (172.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.95 395.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.30 395.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 395.17 Td (276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 395.17 Td (244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 395.17 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 395.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 395.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 395.17 Td (622.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 395.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 395.17 Td (707.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 395.17 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 395.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 382.17 Td (Mid-Atlantic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 382.17 Td (236.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 382.17 Td (187.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 382.17 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 382.17 Td (380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 382.17 Td (300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 382.17 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 382.17 Td (622.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 382.17 Td (623.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 382.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 369.17 Td (South) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 369.17 Td (204.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 369.17 Td (166.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 369.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 369.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 369.17 Td (266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 369.17 Td (210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 369.17 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 369.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 369.17 Td (766.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 369.17 Td (794.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 369.17 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 369.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 356.17 Td (West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 356.17 Td (246.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 356.17 Td (200.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 356.17 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 356.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 356.17 Td (352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 356.17 Td (281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 356.17 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 356.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 356.17 Td (699.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 356.17 Td (712.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 356.17 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 356.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 343.17 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 343.17 Td (335.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 343.17 Td (253.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 343.17 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 343.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 343.17 Td (226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 343.17 Td (162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 343.17 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 343.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.60 343.17 Td (1,483.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.60 343.17 Td (1,561.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 343.17 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 343.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 330.17 Td (Traditional Home Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.60 330.17 Td (1,193.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 330.17 Td (979.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 330.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 330.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.10 330.17 Td (1,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.10 330.17 Td (1,197) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 330.17 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 330.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 330.17 Td (795.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 330.17 Td (818.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 330.17 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 330.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 317.17 Td (City Living) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.15 317.17 Td (49.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 317.17 Td (107.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.95 317.17 Td (\(54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.30 317.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 317.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.65 317.17 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.95 317.17 Td (\(58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.30 317.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.60 317.17 Td (2,243.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.60 317.17 Td (2,021.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 317.17 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 317.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 304.17 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.00 304.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.60 304.17 Td (1,243.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 304.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.60 304.17 Td (1,087.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.30 304.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 304.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.10 304.17 Td (1,522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.10 304.17 Td (1,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 304.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 304.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 304.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 304.17 Td (816.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 304.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 304.17 Td (869.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 304.17 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 304.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 267.10 Td (Backlog:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 182.60 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.50 182.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 182.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 182.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 182.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 182.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 182.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 182.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 182.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 182.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 182.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 182.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 182.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 182.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 182.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 182.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 182.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.50 182.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 156.60 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.50 156.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 156.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 156.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 156.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 156.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 156.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 156.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 156.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 156.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 156.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 156.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 156.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 156.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 156.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 156.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 156.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.50 156.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 130.60 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.50 130.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 130.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 130.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 130.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 130.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 130.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 130.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 130.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 130.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 130.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 130.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 130.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 130.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 130.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 130.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 130.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.50 130.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 104.60 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.50 104.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 104.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 104.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 104.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 104.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 104.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 104.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 104.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 104.60 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 104.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 104.60 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 104.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 104.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 104.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 104.60 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 104.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.50 104.60 38.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 242.60000000000002 m 220.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 242.60000000000002 m 224.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 242.60000000000002 m 266.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 242.60000000000002 m 270.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 242.60000000000002 m 310.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 242.60000000000002 m 314.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 242.60000000000002 m 349.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 242.60000000000002 m 353.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 242.60000000000002 m 388.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 242.60000000000002 m 392.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 242.60000000000002 m 220.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 220.60000000000002 m 220.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 242.60000000000002 m 224.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 220.60000000000002 m 224.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 242.60000000000002 m 266.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 220.60000000000002 m 266.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 242.60000000000002 m 270.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 220.60000000000002 m 270.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 242.60000000000002 m 310.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 220.60000000000002 m 310.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 242.60000000000002 m 314.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 242.60000000000002 m 349.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 220.60000000000002 m 349.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 242.60000000000002 m 353.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 220.60000000000002 m 353.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 242.60000000000002 m 388.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 220.60000000000002 m 388.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 242.60000000000002 m 392.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 220.60000000000002 m 392.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 242.60000000000002 m 430.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 220.60000000000002 m 430.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 242.60000000000002 m 434.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 242.60000000000002 m 475.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 220.60000000000002 m 475.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 242.60000000000002 m 479.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 220.60000000000002 m 479.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 242.60000000000002 m 520.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 220.60000000000002 m 520.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 242.60000000000002 m 524.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 220.60000000000002 m 524.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 242.60000000000002 m 562.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 220.60000000000002 m 562.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 220.60000000000002 m 220.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 195.60000000000002 m 220.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 220.60000000000002 m 224.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 220.60000000000002 m 266.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 195.60000000000002 m 266.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 220.60000000000002 m 270.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 220.60000000000002 m 310.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 195.60000000000002 m 310.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 220.60000000000002 m 349.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 195.60000000000002 m 349.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 220.60000000000002 m 353.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 220.60000000000002 m 388.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 195.60000000000002 m 388.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 220.60000000000002 m 392.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 220.60000000000002 m 430.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 195.60000000000002 m 430.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 220.60000000000002 m 475.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 195.60000000000002 m 475.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 220.60000000000002 m 479.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 220.60000000000002 m 520.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 195.60000000000002 m 520.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 220.60000000000002 m 524.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 220.60000000000002 m 562.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524.5 195.60000000000002 m 562.5 195.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178.5 117.60000000000002 m 220.5 117.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 117.60000000000002 m 266.5 117.60000000000002 l s 0 0 0 RG /GS0 gs 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BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 173.17 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 173.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.10 173.17 Td (1,044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 173.17 Td (954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.30 173.17 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 173.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 173.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 173.17 Td (688.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 173.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 173.17 Td (703.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 173.17 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 173.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 160.17 Td (Mid-Atlantic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 160.17 Td (662.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 160.17 Td (536.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 160.17 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 160.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.10 160.17 Td (1,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 160.17 Td (832) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 160.17 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 160.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 160.17 Td (619.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 160.17 Td (644.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 160.17 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 160.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 147.17 Td (South) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 147.17 Td (798.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 147.17 Td (689.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 147.17 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 147.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.10 147.17 Td (1,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 147.17 Td (836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 147.17 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 147.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 147.17 Td (770.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 147.17 Td (824.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 147.17 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 147.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 134.17 Td (West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 134.17 Td (840.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 134.17 Td (636.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 134.17 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 134.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.10 134.17 Td (1,165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 134.17 Td (895) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 134.17 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 134.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 134.17 Td (721.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 134.17 Td (711.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 134.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 134.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 121.17 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.10 121.17 Td (983.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.10 121.17 Td (933.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 121.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 121.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 121.17 Td (604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 121.17 Td (612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.95 121.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.30 121.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.60 121.17 Td (1,627.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.60 121.17 Td (1,526.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 121.17 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 121.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 108.17 Td (Traditional Home Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.60 108.17 Td (4,003.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.60 108.17 Td (3,466.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 108.17 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.65 108.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.10 108.17 Td (4,918) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.10 108.17 Td (4,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.30 108.17 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 108.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.10 108.17 Td (814.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 108.17 Td (839.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 108.17 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 108.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf 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301.00 31.60 Td (36) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 674.50 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 177.50 674.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 674.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 674.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 674.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 674.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 674.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 674.50 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 674.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 674.50 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 674.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 674.50 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 674.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 674.50 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 674.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 674.50 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 674.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 674.50 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 648.50 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 177.50 648.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 648.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 648.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 648.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 648.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 648.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 648.50 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 648.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 648.50 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 648.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 648.50 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 648.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 648.50 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 648.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 648.50 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 648.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 648.50 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 622.50 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 177.50 622.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 622.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 622.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 622.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 622.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 622.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 622.50 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 622.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 622.50 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 622.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 622.50 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 622.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 622.50 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 622.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 622.50 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 622.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 622.50 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 596.50 128.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 177.50 596.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 596.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 596.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 596.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 596.50 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 596.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 596.50 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 596.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 596.50 35.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 596.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 596.50 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 596.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 596.50 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 596.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 596.50 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 596.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 596.50 38.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 734.5 m 219.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 734.5 m 219.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 712.5 m 219.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 734.5 m 223.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 712.5 m 223.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 734.5 m 265.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 712.5 m 265.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 734.5 m 269.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 712.5 m 269.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 734.5 m 309.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 712.5 m 309.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309.5 734.5 m 313.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 734.5 m 348.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 712.5 m 348.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 734.5 m 352.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 712.5 m 352.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 734.5 m 387.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 712.5 m 387.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 734.5 m 391.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 712.5 m 391.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 734.5 m 429.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 712.5 m 429.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 734.5 m 433.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 734.5 m 474.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 712.5 m 474.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 734.5 m 478.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 712.5 m 478.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 734.5 m 519.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 712.5 m 519.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 734.5 m 523.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 712.5 m 523.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 734.5 m 561.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 712.5 m 561.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 712.5 m 219.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 687.5 m 219.5 687.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 712.5 m 223.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 712.5 m 265.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 687.5 m 265.5 687.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 712.5 m 269.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 712.5 m 309.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 687.5 m 309.5 687.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 712.5 m 348.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 687.5 m 348.5 687.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 712.5 m 352.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 712.5 m 387.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 687.5 m 387.5 687.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 712.5 m 391.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 712.5 m 429.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 687.5 m 429.5 687.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 712.5 m 474.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 687.5 m 474.5 687.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 712.5 m 478.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 712.5 m 519.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 687.5 m 519.5 687.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 712.5 m 523.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 712.5 m 561.5 712.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 687.5 m 561.5 687.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 609.5 m 219.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 609.5 m 265.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 609.5 m 309.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 609.5 m 348.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 609.5 m 387.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 609.5 m 429.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 609.5 m 474.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 609.5 m 519.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 609.5 m 561.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 609.5 m 219.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 609.5 m 265.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 609.5 m 309.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 609.5 m 348.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 609.5 m 387.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 609.5 m 474.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 609.5 m 519.5 609.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 583.5 m 219.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 571.5 m 219.5 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 569.5 m 219.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 583.5 m 265.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 571.5 m 265.5 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 569.5 m 265.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 583.5 m 309.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 571.5 m 309.5 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 569.5 m 309.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 583.5 m 348.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 571.5 m 348.5 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 569.5 m 348.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 583.5 m 387.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 571.5 m 387.5 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 569.5 m 387.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 583.5 m 429.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 571.5 m 429.5 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391.5 569.5 m 429.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 583.5 m 474.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 571.5 m 474.5 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 569.5 m 474.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 583.5 m 519.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 571.5 m 519.5 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 569.5 m 519.5 569.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 583.5 m 561.5 583.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 571.5 m 561.5 571.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 569.5 m 561.5 569.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.10 739.07 Td (At October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.75 725.07 Td (Backlog ) Tj ET Q q 0 0 0 rg BT 249.39 725.07 Td (V) Tj ET Q q 0 0 0 rg BT 255.51 725.07 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.35 715.12 Td (\($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.25 717.17 Td (Backlog Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 725.07 Td (A) Tj ET Q q 0 0 0 rg BT 457.48 725.07 Td (verage Backlog Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.75 715.12 Td (\($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.00 692.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 692.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.80 702.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.70 692.17 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.50 692.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.50 692.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.80 702.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.70 692.17 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.50 692.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.50 692.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 702.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.70 692.17 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 678.07 Td (Traditional Home Building:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 665.07 Td (North) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.00 665.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.10 665.07 Td (692.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.00 665.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.10 665.07 Td (619.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 665.07 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 665.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.60 665.07 Td (977) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.60 665.07 Td (890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.30 665.07 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 665.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 665.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 665.07 Td (709.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 665.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 665.07 Td (695.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 665.07 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 665.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 652.07 Td (Mid-Atlantic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.10 652.07 Td (610.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.10 652.07 Td (518.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 652.07 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 652.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.60 652.07 Td (986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.60 652.07 Td (811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.30 652.07 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 652.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 652.07 Td (618.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 652.07 Td (639.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.95 652.07 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 652.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 639.07 Td (South) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.10 639.07 Td (736.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.10 639.07 Td (669.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 639.07 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 639.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.60 639.07 Td (960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.60 639.07 Td (824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.30 639.07 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 639.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 639.07 Td (767.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 639.07 Td (812.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.95 639.07 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 639.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 626.07 Td (West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.10 626.07 Td (766.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.10 626.07 Td (573.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 626.07 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 626.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 626.07 Td (1,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.60 626.07 Td (816) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.30 626.07 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 626.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 626.07 Td (751.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 626.07 Td (702.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 626.07 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 626.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 613.07 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.10 613.07 Td (867.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.10 613.07 Td (897.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.95 613.07 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.30 613.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.60 613.07 Td (533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.60 613.07 Td (609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.95 613.07 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.30 613.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.60 613.07 Td (1,627.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.60 613.07 Td (1,474.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 613.07 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 613.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 600.07 Td (Traditional Home Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.60 600.07 Td (3,673.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.60 600.07 Td (3,278.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 600.07 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 600.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 600.07 Td (4,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.10 600.07 Td (3,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.30 600.07 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 600.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 600.07 Td (820.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 600.07 Td (830.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.95 600.07 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 600.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 587.07 Td (City Living) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.10 587.07 Td (310.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.10 587.07 Td (225.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 587.07 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 587.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.60 587.07 Td (209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.60 587.07 Td (114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.30 587.07 Td (83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 587.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.60 587.07 Td (1,486.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.60 587.07 Td (1,977.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.95 587.07 Td (\(25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 587.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 574.07 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.00 574.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.60 574.07 Td (3,984.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.00 574.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.60 574.07 Td (3,504.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 574.07 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 574.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.10 574.07 Td (4,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.10 574.07 Td (4,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.30 574.07 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 574.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.00 574.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 574.07 Td (850.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 574.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 574.07 Td (862.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.95 574.07 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 574.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 547.00 Td (Income \(Loss\) Befor) Tj ET Q q 0 0 0 rg BT 136.47 547.00 Td (e Income ) Tj ET Q q 0 0 0 rg BT 177.39 547.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.14 547.00 Td (axes \($ amounts in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 496.50 370.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 496.50 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.50 496.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 496.50 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 496.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 496.50 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 470.50 370.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 470.50 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.50 470.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 470.50 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 470.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 470.50 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 444.50 370.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 444.50 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.50 444.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 444.50 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 444.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 444.50 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 418.50 370.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 418.50 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.50 418.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 418.50 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 418.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 418.50 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 392.50 370.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 392.50 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.50 392.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 392.50 46.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 392.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 392.50 44.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 521.5 m 464.5 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464.5 521.5 m 468.5 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 521.5 m 514.5 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 521.5 m 518.5 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 521.5 m 562.5 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 496.5 m 464.5 496.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 496.5 m 514.5 496.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 521.5 m 562.5 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 496.5 m 562.5 496.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 418.5 m 464.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 418.5 m 514.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 418.5 m 562.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 418.5 m 464.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 418.5 m 514.5 418.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 379.5 m 464.5 379.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 367.5 m 464.5 367.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 365.5 m 464.5 365.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 379.5 m 514.5 379.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 367.5 m 514.5 367.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 365.5 m 514.5 365.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 379.5 m 562.5 379.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 367.5 m 562.5 367.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 365.5 m 562.5 365.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 526.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.85 526.17 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 501.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 501.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 501.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.80 511.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.70 501.17 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 487.07 Td (Traditional Home Building:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 474.07 Td (North) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 474.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 474.07 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 474.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 474.07 Td (8.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 474.07 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 474.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 461.07 Td (Mid-Atlantic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 461.07 Td (11.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.15 461.07 Td (17.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 461.07 Td (\(32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 461.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 448.07 Td (South) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 448.07 Td (13.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.15 448.07 Td (21.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 448.07 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 448.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 435.07 Td (West) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 435.07 Td (25.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.15 435.07 Td (19.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 435.07 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 435.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 422.07 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 422.07 Td (43.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.15 422.07 Td (43.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 422.07 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 422.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 409.07 Td (Traditional Home Building) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 409.07 Td (103.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 409.07 Td (109.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 409.07 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 409.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 396.07 Td (City Living) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 396.07 Td (43.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.15 396.07 Td (43.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 396.07 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 396.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 383.07 Td (Corporate and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 383.12 Td (\(36.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 383.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.80 383.12 Td (\(36.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.65 383.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 383.07 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 383.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 370.07 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 370.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 370.07 Td (109.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 370.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 370.07 Td (116.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 370.07 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 370.07 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.00 Td (Corporate and other is comprised principally of general corporate expenses such as the of) Tj ET Q q 0 0 0 rg BT 416.63 347.00 Td (fices of our executive of) Tj ET Q q 0 0 0 rg BT 513.62 347.00 Td (ficers; the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.00 Td (corporate finance, accounting, audit, tax, human resources, risk management, information technology) Tj ET Q q 0 0 0 rg BT 455.32 335.00 Td (, marketing, and legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.00 Td (groups; interest income; income from certain of our ancillary businesses, including Gibraltar; and income from a number of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.00 Td (unconsolidated entities.) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.93 742.25 Td (raditional Home Building) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (North) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 685.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 685.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 685.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 685.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 659.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 659.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 659.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 659.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 659.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 659.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 633.75 359.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 633.75 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 633.75 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 633.75 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 633.75 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 633.75 45.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 613.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 613.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 613.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 613.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 613.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 613.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 587.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 587.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 587.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 587.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 587.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 587.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 566.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 566.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 566.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 566.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 566.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 566.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 540.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 540.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 540.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 540.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 540.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 540.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 514.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 514.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 514.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 514.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 514.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 514.75 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 698.75 m 459.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 698.75 m 463.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 698.75 m 513.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 698.75 m 517.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 698.75 m 562.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 685.75 m 459.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 685.75 m 513.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 698.75 m 562.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 685.75 m 562.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 685.75 m 562.5 685.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.35 702.32 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.00 689.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 689.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.20 689.32 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 676.48 Td (Units Delivered and Revenues:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 663.32 Td (Revenues \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 663.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 663.32 Td (145.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 663.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 663.32 Td (120.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 663.32 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 663.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 650.32 Td (Units delivered) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 650.32 Td (209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 650.32 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 650.32 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 650.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 637.32 Td (Average delivered price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 637.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 637.32 Td (696.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 637.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 637.32 Td (671.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 637.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 637.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 617.48 Td (Net Contracts Signed:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 604.32 Td (Net contract value \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 604.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 604.32 Td (171.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 604.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 604.32 Td (172.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 604.32 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 604.32 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 591.32 Td (Net contracted units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 591.32 Td (276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 591.32 Td (244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 591.32 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 591.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 578.32 Td (Average contracted price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 578.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 578.32 Td (622.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 578.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 578.32 Td (707.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 578.32 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 578.32 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 557.48 Td (Cost of revenues as a percentage of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 557.32 Td (78.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 557.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 557.32 Td (78.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 557.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 531.48 Td (Income before income taxes \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 531.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 531.32 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 531.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 531.32 Td (8.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 531.32 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 531.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 505.48 Td (Number of selling communities at January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 505.32 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 505.32 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 505.32 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 505.32 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 482.25 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.38 482.25 Td ( increase in the number of homes delivered in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.46 482.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.46 482.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.42 482.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.42 482.25 Td ( period, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 470.25 Td (mainly due to increases in the number of homes closed in Illinois, New Jersey) Tj ET Q q 0 0 0 rg BT 361.50 470.25 Td (, and Massachusetts, partially of) Tj ET Q q 0 0 0 rg BT 490.18 470.25 Td (fset by a decrease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.25 Td (in the number of homes closed in New ) Tj ET Q q 0 0 0 rg BT 206.82 458.25 Td (Y) Tj ET Q q 0 0 0 rg BT 213.04 458.25 Td (ork. ) Tj ET Q q 0 0 0 rg BT 231.19 458.25 Td (The increase in the number of homes closed in Illinois and Massachusetts was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.25 Td (primarily due to a higher percentage of home closings from beginning backlog \(backlog conversion\) in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.35 446.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.35 446.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 434.25 Td (period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.45 434.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.45 434.25 Td ( period. In New Jersey) Tj ET Q q 0 0 0 rg BT 292.05 434.25 Td (, the increase was principally due to an increase in the number of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.25 Td (homes in backlog as of October 31, 2016, as compared to the number of homes in backlog at October 31, 2015. ) Tj ET Q q 0 0 0 rg BT 498.32 422.25 Td (The increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.25 Td (the average price of homes delivered in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.08 410.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.08 410.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.03 410.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.03 410.25 Td ( period, was primarily due to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.25 Td (shift in the number of homes delivered to more expensive areas and/or products and increased selling prices of the homes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.25 Td (delivered. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.25 Td (The increase in the number of net contracts signed in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.24 366.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.24 366.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.19 366.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.19 366.25 Td ( period, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.25 Td (principally attributable to an increase in demand in Connecticut, Michigan and New Jersey) Tj ET Q q 0 0 0 rg BT 412.85 354.25 Td (, of) Tj ET Q q 0 0 0 rg BT 426.00 354.25 Td (fset, in part, by a decrease in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.25 Td (number of selling communities in New Jersey) Tj ET Q q 0 0 0 rg BT 233.20 342.25 Td (. ) Tj ET Q q 0 0 0 rg BT 238.02 342.25 Td (The decrease in the average value of each contract signed in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.82 342.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.82 342.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.25 Td (period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.45 330.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.45 330.25 Td ( period, was mainly due to a shift in the number of contracts signed to less expensive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.25 Td (areas and/or products, particularly in Michigan where we saw a significant increase in townhome contracts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 298.25 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.38 298.25 Td ( increase in income before income taxes in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.51 298.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.51 298.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.46 298.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.46 298.25 Td ( period, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (principally attributable to higher earnings from increased revenues, of) Tj ET Q q 0 0 0 rg BT 329.44 286.25 Td (fset, in part, by higher SG&A) Tj ET Q q 0 0 0 rg BT 447.48 286.25 Td ( costs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 266.25 Td (Mid-Atlantic) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 229.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 229.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 229.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 229.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 229.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 229.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 203.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 203.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 203.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 203.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 203.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 203.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 177.75 359.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 177.75 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 177.75 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 177.75 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 177.75 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 177.75 45.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 157.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 157.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 157.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 157.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 157.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 157.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 131.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 131.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 131.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 131.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 131.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 131.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 110.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 110.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 110.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 110.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 110.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 110.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 84.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 84.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 84.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 84.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 84.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 84.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 58.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 58.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 58.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 58.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 58.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 58.75 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 242.75 m 459.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 242.75 m 463.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 242.75 m 513.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 242.75 m 517.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 242.75 m 562.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 229.75 m 459.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 229.75 m 513.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 242.75 m 562.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 229.75 m 562.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 229.75 m 562.5 229.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.35 246.32 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.00 233.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 233.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.20 233.32 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 220.48 Td (Units Delivered and Revenues:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 207.32 Td (Revenues \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 207.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 207.32 Td (184.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 207.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 207.32 Td (169.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 207.32 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 207.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 194.32 Td (Units delivered) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 194.32 Td (297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 194.32 Td (279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 194.32 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 194.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 181.32 Td (Average delivered price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 181.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 181.32 Td (619.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 181.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 181.32 Td (608.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 181.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 181.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 161.48 Td (Net Contracts Signed:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 148.32 Td (Net contract value \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 148.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 148.32 Td (236.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 148.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 148.32 Td (187.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 148.32 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 148.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 135.32 Td (Net contracted units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 135.32 Td (380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 135.32 Td (300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 135.32 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 135.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 122.32 Td (Average contracted price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 122.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 122.32 Td (622.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 122.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 122.32 Td (623.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 122.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 122.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 101.48 Td (Cost of revenues as a percentage of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 101.32 Td (80.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 101.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 101.32 Td (77.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 101.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 75.48 Td (Income before income taxes \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 75.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 75.32 Td (11.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 75.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 75.32 Td (17.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 75.32 Td (\(32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 75.32 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 49.48 Td (Number of selling communities at January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 49.32 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 49.32 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 49.32 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 49.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The increase in the number of homes delivered in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.63 742.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.63 742.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.58 742.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.58 742.10 Td ( period, was mainly due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (to an increase in the number of homes closed in Pennsylvania which was attributable to an increase in the number of homes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (backlog as of October 31, 2016, as compared to the number of homes in backlog at October 31, 2015. ) Tj ET Q q 0 0 0 rg BT 459.43 718.10 Td (The increase in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (number of net contracts signed was principally due to increases in demand and in selling communities in Pennsylvania and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Maryland.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.10 Td (The decrease in income before income taxes in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.34 674.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.34 674.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.29 674.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.29 674.10 Td ( period, was mainly due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 662.10 Td (higher inventory impairment char) Tj ET Q q 0 0 0 rg BT 184.50 662.10 Td (ges and SG&A) Tj ET Q q 0 0 0 rg BT 244.50 662.10 Td ( costs, of) Tj ET Q q 0 0 0 rg BT 280.15 662.10 Td (fset, in part, by higher earnings from increased revenues. In the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.61 662.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.60 662.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 650.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.92 650.10 Td (, inventory impairment char) Tj ET Q q 0 0 0 rg BT 288.37 650.10 Td (ges were $4.3 million, as compared to $9,000 in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.05 650.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.04 650.10 Td ( months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 638.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 638.10 Td (January31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.98 638.10 Td (. During the first quarter of fiscal 2017, during our review of operating communities for impairment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 626.10 Td (primarily due to a lack of improvement and/or a decrease in customer demand as a result of weaker than expected market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 614.10 Td (conditions, we determined that the pricing assumptions used in prior impairment reviews for one operating community located ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.10 Td (in Maryland needed to be reduced. ) Tj ET Q q 0 0 0 rg BT 190.78 602.10 Td (As a result of this reduction in expected sales prices, we determined that this community ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 590.10 Td (was impaired. ) Tj ET Q q 0 0 0 rg BT 108.04 590.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 157.38 590.10 Td (, the carrying value of this community was written down to its estimated fair value resulting in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 578.10 Td (char) Tj ET Q q 0 0 0 rg BT 67.03 578.10 Td (ge to income before taxes of $3.9 million. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 558.10 Td (South) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 521.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 521.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 521.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 521.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 521.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 521.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 495.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 495.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 495.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 495.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 495.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 495.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 469.60 359.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 469.60 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 469.60 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 469.60 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 469.60 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 469.60 45.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 449.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 449.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 449.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 449.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 449.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 449.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 423.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 423.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 423.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 423.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 423.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 423.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 402.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 402.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 402.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 402.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 402.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 402.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 376.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 376.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 376.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 376.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 376.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 376.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 350.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 350.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 350.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 350.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 350.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 350.60 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 534.6 m 459.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 534.6 m 463.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 534.6 m 513.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 534.6 m 517.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 534.6 m 562.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 521.6 m 459.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 521.6 m 513.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 534.6 m 562.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 521.6 m 562.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 521.6 m 562.5 521.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.35 538.17 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.00 525.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 525.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.20 525.17 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 512.33 Td (Units Delivered and Revenues:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 499.17 Td (Revenues \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 499.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 499.17 Td (142.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 499.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 499.17 Td (146.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 499.17 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 499.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 486.17 Td (Units delivered) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 486.17 Td (190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 486.17 Td (198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 486.17 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 486.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 473.17 Td (Average delivered price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 473.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 473.17 Td (748.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 473.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 473.17 Td (741.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 473.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 473.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 453.33 Td (Net Contracts Signed:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 440.17 Td (Net contract value \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 440.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 440.17 Td (204.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 440.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 440.17 Td (166.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 440.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 440.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 427.17 Td (Net contracted units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 427.17 Td (266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 427.17 Td (210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 427.17 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 427.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 414.17 Td (Average contracted price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 414.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 414.17 Td (766.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 414.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 414.17 Td (794.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 414.17 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 414.17 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 393.33 Td (Cost of revenues as a percentage of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 393.17 Td (78.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 393.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 393.17 Td (76.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 393.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 367.33 Td (Income before income taxes \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 367.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 367.17 Td (13.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 367.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 367.17 Td (21.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 367.17 Td (\(38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 367.17 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 341.33 Td (Number of selling communities at January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 341.17 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 341.17 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 341.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 341.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (The increase in the number of net contracts signed in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.24 318.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.24 318.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.19 318.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.19 318.10 Td ( period, was mainly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (due to increased demand in North Carolina and an increase in the number of selling communities in North Carolina and ) Tj ET Q q 0 0 0 rg BT 530.80 306.10 Td (T) Tj ET Q q 0 0 0 rg BT 536.21 306.10 Td (exas. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.10 Td (The decrease in the average value of each contract signed in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.80 294.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.80 294.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.75 294.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.75 294.10 Td ( period, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (mainly due to a shift in the number of contracts signed to less expensive areas and/or products. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (The decrease in income before income taxes in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.34 262.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.34 262.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.29 262.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.29 262.10 Td ( period, was principally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (due to higher SG&A) Tj ET Q q 0 0 0 rg BT 132.50 250.10 Td ( costs, higher cost of revenues as a percentage of revenues, and a $2.9 million decrease in earnings from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (lower land sales in ) Tj ET Q q 0 0 0 rg BT 127.02 238.10 Td (T) Tj ET Q q 0 0 0 rg BT 132.43 238.10 Td (exas. ) Tj ET Q q 0 0 0 rg BT 155.02 238.10 Td (The increase in cost of revenues, as a percentage of revenues, was primarily due to a shift in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (number of homes delivered to lower) Tj ET Q q 0 0 0 rg BT 195.03 226.10 Td (-mar) Tj ET Q q 0 0 0 rg BT 213.73 226.10 Td (gin products and/or locations.) Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (39) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 742.25 Td (est) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 705.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 705.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 705.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 705.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 705.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 705.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 679.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 679.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 679.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 679.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 679.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 679.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 653.75 359.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 653.75 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 653.75 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 653.75 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 653.75 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 653.75 45.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 633.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 633.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 633.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 633.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 633.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 633.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 607.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 607.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 607.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 607.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 607.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 607.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 586.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 586.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 586.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 586.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 560.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 560.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 560.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 560.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 534.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 534.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 534.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 534.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 534.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 534.75 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 718.75 m 459.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 718.75 m 463.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 718.75 m 513.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 718.75 m 517.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 718.75 m 562.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 705.75 m 459.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 705.75 m 513.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 718.75 m 562.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 705.75 m 562.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 705.75 m 562.5 705.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.35 722.32 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.00 709.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 709.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.20 709.32 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 696.48 Td (Units Delivered and Revenues:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 683.32 Td (Revenues \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 683.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 683.32 Td (211.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 683.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 683.32 Td (137.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 683.32 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 683.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 670.32 Td (Units delivered) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 670.32 Td (335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 670.32 Td (202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 670.32 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 670.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 657.32 Td (Average delivered price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 657.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 657.32 Td (630.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 657.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 657.32 Td (679.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 657.32 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 657.32 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 637.48 Td (Net Contracts Signed:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 624.32 Td (Net contract value \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 624.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 624.32 Td (246.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 624.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 624.32 Td (200.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 624.32 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 624.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 611.32 Td (Net contracted units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 611.32 Td (352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 611.32 Td (281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 611.32 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 611.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 598.32 Td (Average contracted price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 598.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 598.32 Td (699.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 598.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 598.32 Td (712.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 598.32 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 598.32 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 577.48 Td (Cost of revenues as a percentage of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 577.32 Td (76.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 577.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 577.32 Td (75.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 577.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 551.48 Td (Income before income taxes \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 551.32 Td (25.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 551.32 Td (19.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 551.32 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 551.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 525.48 Td (Number of selling communities at January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 525.32 Td (84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 525.32 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 525.32 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 525.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (The increase in the number of homes delivered in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.63 502.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.63 502.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.58 502.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.58 502.25 Td ( period, was mainly due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (to an increase in the number of homes in backlog at October 31, 2016, as compared to the number of homes in backlog at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (October 31, 2015 and the delivery of 74 homes in the period from our Coleman acquisition. ) Tj ET Q q 0 0 0 rg BT 419.18 478.25 Td (The decrease in the average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (delivered price of homes delivered was primarily due to our acquisition of Coleman, where the average price of homes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (delivered in the fiscal 2017 period was $296,100. Excluding the Coleman closings, the average price of homes delivered in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.16 442.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.16 442.25 Td ( period increased 7%, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.19 442.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.19 442.25 Td ( period. ) Tj ET Q q 0 0 0 rg BT 338.06 442.25 Td (The increase in the average price of homes delivered, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (excluding Coleman closings, was mainly due to a shift in the number of contracts signed to more expensive areas and/or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (products.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.25 Td (The increase in the value and number of net contracts signed in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.34 398.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.34 398.25 Td ( period, as compared the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.01 398.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.01 398.25 Td ( period, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.25 Td (principally due to the 60 contracts we signed during the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.10 386.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.10 386.25 Td ( period at Coleman communities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.25 Td (The increase in income before income taxes in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.68 366.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.68 366.25 Td ( period, as compared the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.35 366.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.35 366.25 Td ( period, was due mainly to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.25 Td (higher earnings from the increased revenues, partially of) Tj ET Q q 0 0 0 rg BT 275.84 354.25 Td (fset by higher SG&A) Tj ET Q q 0 0 0 rg BT 360.56 354.25 Td ( costs, higher cost of revenues, as a percentage of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.25 Td (revenues, and a $2.9 million recovery in the fiscal 2016 period of previously incurred char) Tj ET Q q 0 0 0 rg BT 411.37 342.25 Td (ges related to a Land Development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.25 Td (Joint ) Tj ET Q q 0 0 0 rg BT 71.77 330.25 Td (V) Tj ET Q q 0 0 0 rg BT 77.88 330.25 Td (enture. ) Tj ET Q q 0 0 0 rg BT 107.69 330.25 Td (The increase in cost of revenues, as a percentage of revenues, was primarily due to the impact of purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.25 Td (accounting for the homes sold from the Coleman acquisition inventory and a shift in the number of homes delivered to lower) Tj ET Q q 0 0 0 rg BT 549.68 318.25 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.25 Td (mar) Tj ET Q q 0 0 0 rg BT 65.37 306.25 Td (gin products and/or locations.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (California) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 249.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 249.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 249.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 249.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 249.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 249.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 223.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 223.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 223.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 223.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 223.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 223.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 197.75 359.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 197.75 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 197.75 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 197.75 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 197.75 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 197.75 45.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 177.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 177.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 177.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 177.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 177.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 177.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 151.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 151.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 151.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 151.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 151.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 151.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 130.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 130.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 130.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 130.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 130.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 130.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 104.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 104.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 104.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 104.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 104.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 104.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 78.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 78.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 78.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 78.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 78.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 78.75 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 262.75 m 459.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 262.75 m 463.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 262.75 m 513.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 262.75 m 517.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 262.75 m 562.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 249.75 m 459.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 249.75 m 513.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 262.75 m 562.5 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 249.75 m 562.5 249.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 249.75 m 562.5 249.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.35 266.32 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.00 253.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 253.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.20 253.32 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 240.48 Td (Units Delivered and Revenues:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 227.32 Td (Revenues \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 227.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 227.32 Td (219.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 227.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 227.32 Td (216.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 227.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 227.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 214.32 Td (Units delivered) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 214.32 Td (155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 214.32 Td (159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 214.32 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 214.32 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 201.32 Td (Average delivered price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 201.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.60 201.32 Td (1,417.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 201.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.60 201.32 Td (1,364.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 201.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 201.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 181.48 Td (Net Contracts Signed:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 168.32 Td (Net contract value \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 168.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 168.32 Td (335.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 168.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 168.32 Td (253.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 168.32 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 168.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 155.32 Td (Net contracted units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 155.32 Td (226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 155.32 Td (162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 155.32 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 155.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 142.32 Td (Average contracted price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 142.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.60 142.32 Td (1,483.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 142.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.60 142.32 Td (1,561.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 142.32 Td (\(5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 142.32 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 121.48 Td (Cost of revenues as a percentage of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 121.32 Td (71.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 121.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 121.32 Td (71.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 121.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 95.48 Td (Income before income taxes \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 95.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 95.32 Td (43.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 95.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 95.32 Td (43.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 95.32 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 95.32 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 69.48 Td (Number of selling communities at January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 69.32 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 69.32 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 69.32 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 69.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The increase in the average price of homes delivered in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.66 742.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.66 742.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.61 742.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.61 742.10 Td ( period, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (primarily due to a shift in the number of homes delivered to more expensive areas and/or products.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 710.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 710.10 Td (40%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.38 710.10 Td ( increase in the number of net contracts signed in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.07 710.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.07 710.10 Td ( period, as compared the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.75 710.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.75 710.10 Td ( period, was due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 698.10 Td (mainly to an increase in demand and an increase in the number of selling communities in our southern California market. ) Tj ET Q q 0 0 0 rg BT 537.18 698.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 686.10 Td (decrease in the average sales price of net contracts signed was principally due to a shift in the number of contracts signed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 674.10 Td (less expensive areas and/or products.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 654.10 Td (The decrease in income before income taxes in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.34 654.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.34 654.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.29 654.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.29 654.10 Td ( period, was due mainly to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 642.10 Td (higher SG&A) Tj ET Q q 0 0 0 rg BT 105.28 642.10 Td ( costs, of) Tj ET Q q 0 0 0 rg BT 140.93 642.10 Td (fset, in part, by higher earnings from our investment in unconsolidated entities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (City Living) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 585.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 585.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 585.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 585.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 585.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 585.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 559.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 559.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 559.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 559.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 559.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 559.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 533.60 359.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 533.60 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 533.60 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 533.60 50.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 533.60 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 533.60 45.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 513.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 513.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 513.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 513.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 513.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 513.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 487.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 487.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 487.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 487.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 487.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 487.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 466.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 466.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 466.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 466.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 466.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 466.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 440.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 440.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 440.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 440.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 440.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 440.60 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 414.60 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 414.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 414.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 414.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 414.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 414.60 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 598.6 m 459.5 598.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 598.6 m 463.5 598.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 598.6 m 513.5 598.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 598.6 m 517.5 598.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 598.6 m 562.5 598.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 585.6 m 459.5 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 585.6 m 513.5 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 598.6 m 562.5 598.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 585.6 m 562.5 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 585.6 m 562.5 585.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.35 602.17 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.00 589.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 589.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.20 589.17 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 576.33 Td (Units Delivered and Revenues:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 563.17 Td (Revenues \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 563.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 563.17 Td (17.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 563.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 563.17 Td (137.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 563.17 Td (\(87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 563.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 550.17 Td (Units delivered) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 550.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 550.17 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 550.17 Td (\(91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 550.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 537.17 Td (Average delivered price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 537.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.60 537.17 Td (4,484.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 537.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.60 537.17 Td (3,044.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 537.17 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 537.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 517.33 Td (Net Contracts Signed:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 504.17 Td (Net contract value \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 504.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 504.17 Td (49.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 504.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 504.17 Td (107.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 504.17 Td (\(54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 504.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 491.17 Td (Net contracted units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 491.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 491.17 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 491.17 Td (\(58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 491.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 478.17 Td (Average contracted price \($ in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 478.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.60 478.17 Td (2,243.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 478.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.60 478.17 Td (2,021.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 478.17 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 478.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 457.33 Td (Cost of revenues as a percentage of revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 457.17 Td (59.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 457.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 457.17 Td (60.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 457.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 431.33 Td (Income before income taxes \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 431.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 431.17 Td (43.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 431.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 431.17 Td (43.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.95 431.17 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 431.17 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 405.33 Td (Number of selling communities at January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 405.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 405.17 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 405.17 Td (\(29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 405.17 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (The decrease in the number of homes delivered in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.29 382.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.29 382.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.25 382.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.25 382.10 Td ( period, was principally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (due to a decrease in closings at 400 Park ) Tj ET Q q 0 0 0 rg BT 214.12 370.10 Td (A) Tj ET Q q 0 0 0 rg BT 220.60 370.10 Td (venue South where there are less available units and at 410 at Society Hill which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (sold out in fiscal 2016. ) Tj ET Q q 0 0 0 rg BT 143.70 358.10 Td (The increase in the average price of homes delivered in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.36 358.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.36 358.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 346.10 Td ( period, was primarily due to a shift in the number of homes delivered from the Philadelphia, Pennsylvania market to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (metro New ) Tj ET Q q 0 0 0 rg BT 96.84 334.10 Td (Y) Tj ET Q q 0 0 0 rg BT 103.06 334.10 Td (ork City market, where average selling prices were higher) Tj ET Q q 0 0 0 rg BT 334.36 334.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.10 Td (The decrease in the number of net contracts signed in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.90 314.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.90 314.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.85 314.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.85 314.10 Td ( period, was mainly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 302.10 Td (due to strong sales in the first quarter of fiscal 2016 at one of our buildings located in Hoboken, New Jersey) Tj ET Q q 0 0 0 rg BT 480.63 302.10 Td (, which opened in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.10 Td (the fourth quarter of fiscal 2015, which initially benefited from pent up demand.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.9333333333333333 0.15294117647058825 0.1411764705882353 rg BT 371.02 290.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 373.33 290.10 Td (The increase in the average sales price of net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td (contracts signed was principally due to a shift to more expensive areas and/or products.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.10 Td (The decrease in income before income taxes in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.34 258.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.34 258.10 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.29 258.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.29 258.10 Td ( period, was mainly due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.10 Td (lower earnings from decreased revenues, of) Tj ET Q q 0 0 0 rg BT 224.18 246.10 Td (fset, in part, by a $34.7 million increase in earnings from our investments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.10 Td (unconsolidated entities and $3.1 million recognized of previously deferred gains. In the three months ended January 31, 2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.10 Td (and 2016, we recognized $34.5 million in earnings from our investments in unconsolidated entities, as compared to a loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.10 Td ($0.2 million in the three months ended January 31, 2016. ) Tj ET Q q 0 0 0 rg BT 280.62 210.10 Td (The tables below provide information related to deliveries and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.10 Td (revenues and net contracts signed by our joint ventures, for the periods indicated, and the related backlog for the dates indicated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.10 Td (\($ amounts in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 135.60 336.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 135.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 135.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 135.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 135.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 135.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 135.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 135.60 42.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 160.60000000000002 m 426.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 160.60000000000002 m 430.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 160.60000000000002 m 470.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 160.60000000000002 m 474.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 160.60000000000002 m 516.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 160.60000000000002 m 520.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 160.60000000000002 m 562.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 160.60000000000002 m 426.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 135.60000000000002 m 426.5 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 135.60000000000002 m 470.5 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 135.60000000000002 m 516.5 135.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 160.60000000000002 m 562.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 135.60000000000002 m 562.5 135.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.85 165.27 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.00 151.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 141.17 Td (Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 151.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 141.17 Td (Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 151.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.50 141.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.00 151.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.50 141.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 126.17 Td (Deliveries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 126.17 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 126.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 126.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.10 126.17 Td (204.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 126.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 126.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 113.17 Td (Net contracts signed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 113.17 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 113.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 113.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 113.17 Td (30.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 113.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 113.17 Td (29.3) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 59.60 156.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.50 59.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 59.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 59.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 59.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 59.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 59.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 59.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 59.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 59.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 59.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 59.60 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 59.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 59.60 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 59.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 59.60 42.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 84.60000000000002 m 246.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246.5 84.60000000000002 m 250.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 84.60000000000002 m 290.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 84.60000000000002 m 294.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 84.60000000000002 m 336.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 84.60000000000002 m 340.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 84.60000000000002 m 382.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 84.60000000000002 m 426.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 84.60000000000002 m 430.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 84.60000000000002 m 470.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 84.60000000000002 m 474.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 84.60000000000002 m 516.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 84.60000000000002 m 520.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 84.60000000000002 m 562.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.5 59.60000000000002 m 246.5 59.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 59.60000000000002 m 290.5 59.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 84.60000000000002 m 336.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 59.60000000000002 m 336.5 59.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 84.60000000000002 m 382.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 59.60000000000002 m 382.5 59.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 59.60000000000002 m 426.5 59.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 59.60000000000002 m 470.5 59.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 84.60000000000002 m 516.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 59.60000000000002 m 516.5 59.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 84.60000000000002 m 562.5 84.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 59.60000000000002 m 562.5 59.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.70 89.27 Td (At January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.10 89.27 Td (At October 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.00 75.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.15 65.17 Td (Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.00 75.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 65.17 Td (Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 75.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.50 65.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 75.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 65.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.00 75.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 65.17 Td (Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 75.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.15 65.17 Td (Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 75.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.50 65.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.00 75.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.50 65.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 50.17 Td (Backlog) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.65 50.17 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 50.17 Td (129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.00 50.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.10 50.17 Td (233.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 50.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.10 50.17 Td (437.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 50.17 Td (114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 50.17 Td (121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 50.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.10 50.17 Td (408.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 50.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.10 50.17 Td (407.8) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (Corporate and Other) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 685.75 359.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 685.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 685.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 685.75 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 698.75 m 459.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 698.75 m 463.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 698.75 m 513.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 698.75 m 517.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 698.75 m 562.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 685.75 m 459.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 685.75 m 513.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 698.75 m 562.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 685.75 m 562.5 685.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.35 702.32 Td (Three months ended January 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.00 689.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 689.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.20 689.32 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 676.48 Td (Loss before income taxes \($ in millions\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 676.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.80 676.37 Td (\(36.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.65 676.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 676.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.80 676.37 Td (\(36.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.65 676.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 676.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 676.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 653.25 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.38 653.25 Td ( increase in the loss before income taxes in the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.36 653.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.36 653.25 Td ( period, as compared to the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.31 653.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.31 653.25 Td ( period, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.25 Td (principally attributable to higher SG&A) Tj ET Q q 0 0 0 rg BT 209.41 641.25 Td ( costs and a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.84 641.25 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.73 641.25 Td ( recognized in the fiscal 2016 period, from a bulk sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.25 Td (of security monitoring accounts by our home security monitoring business in fiscal 2015. ) Tj ET Q q 0 0 0 rg BT 409.20 629.25 Td (The increase in SG&A) Tj ET Q q 0 0 0 rg BT 500.01 629.25 Td ( costs was due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.25 Td (primarily to increased compensation costs due to our increased number of employees. ) Tj ET Q q 0 0 0 rg BT 395.55 617.25 Td (These increases to the loss before income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.25 Td (taxes were partially of) Tj ET Q q 0 0 0 rg BT 138.95 605.25 Td (fset by our recognition in the fiscal 2017 period of a $6.2 million gain related to the sale of 50% of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.25 Td (ownership interests in one of our Rental Property Joint ) Tj ET Q q 0 0 0 rg BT 271.17 593.25 Td (V) Tj ET Q q 0 0 0 rg BT 277.29 593.25 Td (entures located in the suburbs of Philadelphia, Pennsylvania. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 573.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.48 573.25 Td (vailable Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.54 573.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 553.25 Td (Our principal Internet address is www) Tj ET Q q 0 0 0 rg BT 202.36 553.25 Td (.tollbrothers.com, and our Investor Relations website is located at www) Tj ET Q q 0 0 0 rg BT 488.32 553.25 Td (.tollbrothers.com/) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 541.25 Td (investor_relations. ) Tj ET Q q 0 0 0 rg BT 126.47 541.25 Td (W) Tj ET Q q 0 0 0 rg BT 135.11 541.25 Td (e make our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 529.25 Td (and any amendments to those reports filed or furnished pursuant to Section 13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 520.15 529.25 Td (Act of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 517.25 Td (1934 available through our Investor Relations website, free of char) Tj ET Q q 0 0 0 rg BT 317.51 517.25 Td (ge, as soon as reasonably practicable after we electronically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.25 Td (file such material with, or furnish it to, the SEC. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 485.25 Td (e provide information about our business and financial performance, including our corporate profile, on our Investor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 473.25 Td (Relations website. ) Tj ET Q q 0 0 0 rg BT 125.27 473.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 175.17 473.25 Td (, we webcast our earnings calls and certain events we participate in with members of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 461.25 Td (investment community on our Investor Relations website. Further corporate governance information, including our code of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 449.25 Td (ethics, code of business conduct, corporate governance guidelines, and board committee charters, is also available on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.25 Td (Investor Relations website. ) Tj ET Q q 0 0 0 rg BT 160.91 437.25 Td (The content of our websites is not incorporated by reference into this Quarterly Report on Form 10-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.25 Td (Q or in any other report or document we file with the SEC, and any references to our websites are intended to be inactive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 413.25 Td (textual references only) Tj ET Q q 0 0 0 rg BT 140.42 413.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 393.25 Td (ITEM 3. QUANTIT) Tj ET Q q 0 0 0 rg BT 137.60 393.25 Td (A) Tj ET Q q 0 0 0 rg BT 144.08 393.25 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 170.48 393.25 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 233.36 393.25 Td (A) Tj ET Q q 0 0 0 rg BT 239.84 393.25 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 339.32 393.25 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 374.70 393.25 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 422.02 393.25 Td ( RISK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 373.25 Td (e are exposed to market risk primarily due to fluctuations in interest rates. ) Tj ET Q q 0 0 0 rg BT 356.14 373.25 Td (W) Tj ET Q q 0 0 0 rg BT 364.78 373.25 Td (e utilize both fixed-rate and variable-rate debt. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.25 Td (For fixed-rate debt, changes in interest rates generally af) Tj ET Q q 0 0 0 rg BT 275.56 361.25 Td (fect the fair market value of the debt instrument, but not our earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.25 Td (or cash flow) Tj ET Q q 0 0 0 rg BT 98.78 349.25 Td (. Conversely) Tj ET Q q 0 0 0 rg BT 148.68 349.25 Td (, for variable-rate debt, changes in interest rates generally do not impact the fair value of the debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.25 Td (instrument, but do af) Tj ET Q q 0 0 0 rg BT 133.14 337.25 Td (fect our earnings and cash flow) Tj ET Q q 0 0 0 rg BT 257.72 337.25 Td (. ) Tj ET Q q 0 0 0 rg BT 262.54 337.25 Td (W) Tj ET Q q 0 0 0 rg BT 271.18 337.25 Td (e do not have the obligation to prepay fixed-rate debt before maturity) Tj ET Q q 0 0 0 rg BT 547.37 337.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.25 Td (and, as a result, interest rate risk and changes in fair value should not have a significant impact on our fixed-rate debt until we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.25 Td (are required or elect to refinance it.) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The table below sets forth, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.57 742.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.17 742.10 Td (, our debt obligations by scheduled maturity) Tj ET Q q 0 0 0 rg BT 412.88 742.10 Td (, weighted-average interest rates, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (estimated fair value \(amounts in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 669.60 235.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 669.60 17.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 669.60 17.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 669.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 669.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 669.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 669.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 669.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 669.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 669.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 643.60 235.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 643.60 17.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 643.60 17.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 643.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 643.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 643.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 643.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 643.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 643.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 643.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 617.60 235.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 617.60 17.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 617.60 17.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 617.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 617.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 617.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 617.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 617.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 617.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 617.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 591.60 235.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 591.60 17.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 591.60 17.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 591.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 591.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 591.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 591.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 591.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 591.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 591.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 565.60 235.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 565.60 17.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 565.60 17.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.50 565.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 565.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.50 565.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 565.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 565.60 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 565.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.50 565.60 58.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 704.6 m 376.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 704.6 m 380.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 704.6 m 438.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 704.6 m 500.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 704.6 m 504.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 704.6 m 562.5 704.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 669.6 m 285.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 669.6 m 376.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 669.6 m 500.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 669.6 m 562.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 669.6 m 285.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 669.6 m 376.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 669.6 m 438.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 669.6 m 500.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504.5 669.6 m 562.5 669.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 578.6 m 376.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 578.6 m 500.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 566.6 m 376.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 564.6 m 376.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 566.6 m 500.5 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 564.6 m 500.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 553.6 m 376.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 551.6 m 376.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 553.6 m 500.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 551.6 m 500.5 551.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 709.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.05 709.27 Td (Fixed-rate debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.50 709.27 Td (Variable-rate debt \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.05 674.27 Td (Fiscal year of maturity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.10 674.27 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.25 694.27 Td (W) Tj ET Q q 0 0 0 rg BT 396.89 694.27 Td (eighted-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.45 684.27 Td (average) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.50 674.27 Td (interest rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.60 674.27 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.25 694.27 Td (W) Tj ET Q q 0 0 0 rg BT 520.89 694.27 Td (eighted-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.45 684.27 Td (average) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.50 674.27 Td (interest rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 660.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 660.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 660.17 Td (436,410) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.05 660.17 Td (8.49%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 660.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 660.17 Td (57,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.05 660.17 Td (2.78%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 647.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 647.17 Td (308,854) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.05 647.17 Td (0.72%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 647.17 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.05 647.17 Td (0.88%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.17 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 634.17 Td (370,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.05 634.17 Td (3.98%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 634.17 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.05 634.17 Td (0.88%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 621.17 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 621.17 Td (253,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.05 621.17 Td (6.72%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 621.17 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.05 621.17 Td (0.88%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 608.17 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.15 608.17 Td (1,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.05 608.17 Td (5.95%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 608.17 Td (750,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.05 608.17 Td (2.13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 595.17 Td (Thereafter \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 595.17 Td (1,453,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.05 595.17 Td (5.17%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 595.17 Td (13,210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.05 595.17 Td (0.79%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 582.17 Td (Discount and deferred issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.80 582.22 Td (\(11,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 582.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 582.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.80 582.22 Td (\(1,643) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 582.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.00 582.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 569.17 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 569.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 569.17 Td (2,813,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.05 569.17 Td (5.18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 569.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 569.17 Td (819,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.05 569.17 Td (2.15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.17 Td (Fair value at January 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 556.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 556.17 Td (2,930,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 556.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 556.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 556.17 Td (820,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.00 556.17 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 533.10 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 86.00 533.10 Td (Based upon the amount of variable-rate debt outstanding at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.10 533.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.70 533.10 Td (, and holding the variable-rate debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 521.10 Td (balance constant, each 1% increase in interest rates would increase the interest incurred by us by approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.72 521.10 Td ($8.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 509.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.89 509.10 Td ( per year) Tj ET Q q 0 0 0 rg BT 149.32 509.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 494.10 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 86.00 494.10 Td (The fixed-rate debt amount for fiscal 2018 includes $287.5 million principal amount of 0.5% Exchangeable Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 482.10 Td (Notes \(the 0.5% Exchangeable Senior Notes\). ) Tj ET Q q 0 0 0 rg BT 280.75 482.10 Td (The 0.5% Exchangeable Senior Notes are exchangeable into shares of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 470.10 Td (our common stock at an exchange rate of 20.3749 shares per $1,000 principal amount of notes, corresponding to an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 458.10 Td (initial exchange price of approximately $49.08 per share of common stock. Holders of the 0.5% Exchangeable Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 446.10 Td (Notes will have the right to require ) Tj ET Q q 0 0 0 rg BT 228.28 446.10 Td (T) Tj ET Q q 0 0 0 rg BT 233.69 446.10 Td (oll Brothers Finance Corp. to repurchase their notes for cash equal to 100% of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 434.10 Td (their principal amount, plus accrued but unpaid interest, on each of December15, 2017, September15, 2022, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 422.10 Td (September15, 2027. ) Tj ET Q q 0 0 0 rg BT 171.08 422.10 Td (W) Tj ET Q q 0 0 0 rg BT 179.72 422.10 Td (e will have the right to redeem the 0.5% Exchangeable Senior Notes on or after September15, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 410.10 Td (2017, for cash equal to 100% of their principal amount, plus accrued but unpaid interest.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 Td (ITEM 4. CONTROLS ) Tj ET Q q 0 0 0 rg BT 149.74 390.10 Td (AND PROCEDURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Any controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (that the objectives of the control system are met. Further) Tj ET Q q 0 0 0 rg BT 275.64 358.10 Td (, the design of a control system must reflect the fact that there are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (resource constraints, and the benefits of controls must be considered relative to costs. Because of the inherent limitations in all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any) Tj ET Q q 0 0 0 rg BT 548.94 334.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (within the Company have been detected. Because of the inherent limitations in a cost-ef) Tj ET Q q 0 0 0 rg BT 401.37 322.10 Td (fective control system, misstatements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (due to error or fraud may occur and not be detected; however) Tj ET Q q 0 0 0 rg BT 294.77 310.10 Td (, our disclosure controls and procedures are designed to provide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (reasonable assurance of achieving their objectives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.10 Td (Our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 145.62 278.10 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 258.17 278.10 Td (ficer) Tj ET Q q 0 0 0 rg BT 276.09 278.10 Td (, with the assistance of management, evaluated the ef) Tj ET Q q 0 0 0 rg BT 488.60 278.10 Td (fectiveness of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.10 Td (disclosure controls and procedures, as defined in Rules 13a-15\(e\) and 15d-15\(e\) under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 495.97 266.10 Td (Act of 1934, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.10 Td (amended, \(the Exchange ) Tj ET Q q 0 0 0 rg BT 154.95 254.10 Td (Act\), as of the end of the period covered by this report \(the Evaluation Date\). Based on that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.10 Td (evaluation, our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 190.05 242.10 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 302.60 242.10 Td (ficer concluded that, as of the Evaluation Date, our disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.10 Td (controls and procedures were ef) Tj ET Q q 0 0 0 rg BT 177.54 230.10 Td (fective to provide reasonable assurance that information required to be disclosed in our reports ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.10 Td (under the Exchange ) Tj ET Q q 0 0 0 rg BT 131.36 218.10 Td (Act is recorded, processed, summarized, and reported within the time periods specified in the Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.10 Td (and Exchange Commission) Tj ET Q q 0 0 0 rg BT 162.21 206.10 Td (s rules and forms, and that such information is accumulated and communicated to management, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.10 Td (including our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 183.67 194.10 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 296.23 194.10 Td (ficer) Tj ET Q q 0 0 0 rg BT 314.14 194.10 Td (, as appropriate to allow timely decisions regarding required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.10 Td (disclosure. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.10 Td (There has not been any change in our internal control over financial reporting \(as that term is defined in Rules 13a-15\(f\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.10 Td (15d-15\(f\) under the Exchange ) Tj ET Q q 0 0 0 rg BT 172.18 150.10 Td (Act\) during our quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.08 150.10 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.68 150.10 Td (, that has materially af) Tj ET Q q 0 0 0 rg BT 451.63 150.10 Td (fected, or is reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.10 Td (likely to materially af) Tj ET Q q 0 0 0 rg BT 136.18 138.10 Td (fect, our internal control over financial reporting.) 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 (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.95 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 233.32 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 247.41 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 253.90 742.25 Td ( II. OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 358.44 742.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 722.25 Td (ITEM 1. LEGAL) Tj ET Q q 0 0 0 rg BT 126.13 722.25 Td ( PROCEEDINGS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 700.25 Td (e are involved in various claims and litigation arising principally in the ordinary course of business. ) Tj ET Q q 0 0 0 rg BT 459.19 700.25 Td (W) Tj ET Q q 0 0 0 rg BT 467.83 700.25 Td (e believe that adequate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (provision for resolution of all current claims and pending litigation has been made for probable losses and that the disposition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (of these matters will not have a material adverse ef) Tj ET Q q 0 0 0 rg BT 253.34 676.25 Td (fect on our results of operations and liquidity or on our financial condition.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 656.25 Td (ITEM 1A. RISK F) Tj ET Q q 0 0 0 rg BT 131.21 656.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 152.14 656.25 Td (ORS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 636.25 Td (There have been no material changes in our risk factors as previously disclosed in Part I, Item 1A., Risk Factors, in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.64 636.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.64 636.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 624.25 Td (Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (ITEM 2. UNREGISTERED SALES OF) Tj ET Q q 0 0 0 rg BT 221.89 604.25 Td ( EQUITY) Tj ET Q q 0 0 0 rg BT 263.47 604.25 Td ( SECURITIES ) Tj ET Q q 0 0 0 rg BT 328.50 604.25 Td (AND USE OF) Tj ET Q q 0 0 0 rg BT 388.13 604.25 Td ( PROCEEDS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 584.25 Td (ISSUER PURCHASES OF) Tj ET Q q 0 0 0 rg BT 311.26 584.25 Td ( EQUITY) Tj ET Q q 0 0 0 rg BT 352.84 584.25 Td ( SECURITIES ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.25 Td (During the three-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.34 564.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.94 564.25 Td (, we repurchased the following shares of our common stock:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 475.75 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 475.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 475.75 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 475.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 475.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 475.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 475.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 475.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 475.75 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 449.75 206.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.50 449.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.50 449.75 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 449.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 449.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 449.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 449.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 449.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 449.75 79.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 488.75 m 256.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 488.75 m 328.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 488.75 m 395.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 488.75 m 479.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 488.75 m 562.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 436.75 m 328.5 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 436.75 m 479.5 436.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 424.75 m 328.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 422.75 m 328.5 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 424.75 m 479.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 422.75 m 479.5 422.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 493.42 Td (Period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.25 513.42 Td (Total number) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.05 503.42 Td (of shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.90 493.42 Td (purchased \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.90 513.42 Td (Average) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 503.42 Td (price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.45 493.42 Td (paid per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.85 533.42 Td (Total number of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.95 523.42 Td (shares purchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.75 513.42 Td (as part of publicly) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.50 503.42 Td (announced plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.60 493.42 Td (or programs \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 543.42 Td (Maximum) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.05 533.42 Td (number of shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.80 523.42 Td (that may yet be) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.55 513.42 Td (purchased under) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 503.42 Td (the plans or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 493.42 Td (programs \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 479.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.50 479.32 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 479.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 479.32 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 479.32 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 466.32 Td (November 1, 2016 to November 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 466.32 Td (552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 466.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 466.32 Td (27.30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 466.32 Td (552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 466.32 Td (15,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 453.32 Td (December 1, 2016 to December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 453.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 453.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 453.32 Td (31.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 453.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 453.32 Td (15,284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 440.32 Td (January 1, 2017 to January 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 440.32 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 440.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 440.32 Td (31.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 440.32 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 440.32 Td (15,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 427.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 427.32 Td (557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 427.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.15 427.32 Td (27.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 427.32 Td (557) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 406.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 86.00 406.25 Td (Our stock incentive plans permit us to withhold from the total number of shares that otherwise would be issued to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.25 Td (performance based restricted stock unit recipient or a restricted stock unit recipient upon distribution that number of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.25 Td (shares having a fair value at the time of distribution equal to the applicable income tax withholdings due and remit the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.25 Td (remaining shares to the recipient. During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.87 370.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.46 370.25 Td (, we withheld 152,219 of the shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.25 Td (subject to performance based restricted stock units and restricted stock units to cover $4.8 million of income tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.25 Td (withholdings and we issued the remaining 219,472 shares to the recipients. ) Tj ET Q q 0 0 0 rg BT 388.26 346.25 Td (The shares withheld are not included in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 334.25 Td (total number of shares purchased in the table above. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 316.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 316.25 Td (Our stock incentive plans also permit participants to exercise non-qualified stock options using a net exercise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 304.25 Td (method. In a net exercise, we generally withhold from the total number of shares that otherwise would be issued to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 292.25 Td (participant upon exercise of the stock option that number of shares having a fair market value at the time of exercise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 280.25 Td (equal to the option exercise price and applicable income tax withholdings, and remit the remaining shares to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 268.25 Td (participant. During the three-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.10 268.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.70 268.25 Td (, the net exercise method was employed to exercise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 256.25 Td (options to acquire 15,000 shares of our common stock; we withheld 14,472 of the shares subject to the options to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 244.25 Td (cover $477,000 of option exercise costs and income tax withholdings and issued the remaining 528 shares to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 232.25 Td (participants.The shares withheld in connection with the net exercise method are not included in the total number of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 220.25 Td (shares purchased in the table above. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 202.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 86.00 202.25 Td (On May 23, 2016, our Board of Directors authorized the repurchase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.91 202.25 Td (20 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.30 202.25 Td ( shares of our common stock in open ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 190.25 Td (market transactions or otherwise for general corporate purposes, including to obtain shares for the Company) Tj ET Q q 0 0 0 rg BT 521.70 190.25 Td (s equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.25 Td (award and other employee benefit plans. ) Tj ET Q q 0 0 0 rg BT 250.48 178.25 Td (The Board of Directors did not fix any expiration date for this repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.25 Td (program.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 148.25 Td (Except as set forth above, we have not repurchased any of our equity securities during the three-month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 136.25 Td (January31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.60 136.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 118.25 Td (On February21, 2017, our Board of Directors approved the initiation of quarterly cash dividends to shareholders. ) Tj ET Q q 0 0 0 rg BT 524.37 118.25 Td (The first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 106.25 Td (quarterly dividend of $0.08 per share will be paid on ) Tj ET Q q 0 0 0 rg BT 280.45 106.25 Td (April 28, 2017 to shareholders of record on the close of business on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 94.25 Td (April 14, 2017.) Tj ET Q endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (ITEM 6. EXHIBITS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 722.32 Td (4.1*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.00 722.32 Td (Fifteenth Supplemental Indenture dated as of January 31, 2017, to Indenture dated as of April 20, 2009 by and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.00 712.32 Td (among the parties listed on ScheduleA thereto, and The Bank of New York Mellon, as successor Trustee.**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 689.32 Td (4.2*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.00 689.32 Td (Thirteenth Supplemental Indenture dated as of January 31, 2017, to the Indenture dated as of February 7, 2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.00 679.32 Td (by and among the parties listed on ScheduleA thereto, and The Bank of New York Mellon, as successor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.00 669.32 Td (Trustee.**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 646.32 Td (4.3*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.00 646.32 Td (Twelfth Supplemental Indenture dated as of January 31, 2017, to the Indenture dated as of September 11, 2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.00 636.32 Td (by and among the parties listed on ScheduleA thereto, and The Bank of New York Mellon, as successor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.00 626.32 Td (Trustee.**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 603.32 Td (31.1*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.00 603.32 Td (Certification of Douglas C. 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